The FinTech Hub
Source: Live Mint The Reserve Bank of India (RBI) has recently stated that credit surge in India has more than doubled in the last five years. The total number of credit cards have reached a staggering 10.80 crore by December 2024, in comparison to 5.53 crore in December 2019 as detailed in a report by Press Trust…
Source: Live Mint Do you often use UPI for making your sundry payments – whether it is about paying your Uber driver, for online shopping, or to pay for the roadside chai? If that is the case, then you must have noted that your UPI app generates a transaction ID as you transfer the money….
Source: Live Mint In today’s financial ecosystem, using a credit card has become more of a norm than a choice. At the same time, making payments through UPI – by and large – has surpassed debit card payments by a wide margin. The value of UPI payments spiked from ₹17.15 lakh crore in Oct 2023…
Source: Live Mint IDFC FIRST Bank, in partnership with RuPay, has announced the launch of the UPI-enabled FD-backed secured credit card. Known as FIRST EARN, it is backed by fixed deposit, thus enabling everyone to avail it. It also offers cashback on UPI payments thus making the product rewarding for users. Additionally, fixed deposit creation…
Source: Live Mint Unified Payments Interface (UPI) transactions hit a record high of 16.73 billion in December 2024, a rise of 8 per cent from November data with 15.48 billion transactions, according to data released by the National Payments Corporation of India (NPCI). With the rising popularity of UPI, credit card users are now opting…
Source: Live Mint Banks that are part of unified payment interface ( UPI) functionality tend to lose access to URCS or Unified Real-time Clearing and Settlement if they enter the wrong password three times. In such instances, banks are compelled to reach out to the National Payments Corporation of India (NPCI) to reset the password…
Source: Live Mint Thanks to UPI One World, foreign nationals and non-resident Indians can now make hassle-free payments across India seamlessly. Whether you’re a first-time overseas visitor, an NRI returning to reconnect with home, a health tourist, a student or even if you’re catching up with long-distance friends, UPI One World simplifies your payment needs,…
Source: Live Mint India’s Unified Payments Interface (UPI) transactions rose to 16.73 billion for the month of December 2024, according to data collected from the National Payments Corporation of India (NPCI) website. This rise is killing the nation’s Toffee or candy business. The transactions rose 8 per cent month-on-month (MoM) to its December level, when…
Source: Live Mint NEFT, RTGS update: The Reserve Bank of India (RBI) will introduce the beneficiary account name look-up facility for the Real Time Gross Settlement (RTGS) System and National Electronic Funds Transfer (NEFT) System. The proposed facility will help rectify instances where the remitters transferred funds to the wrong beneficiary, thereby reducing the number…
Source: Live Mint In 1980, Central Bank of India launched the first credit card in India, while Andhra Bank rolled out a VISA-branded credit card a year later. So, credit cards have clearly been around us for a long time now. And why not? They enable users to buy merchandise on credit so that we…
