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RuPay Captures 16% of India’s Credit Card Market, Boosted by UPI Integration

By BPN News Desk March 2, 2025
Finance
RuPay, India’s indigenous payment network, has achieved a significant milestone by capturing approximately 16% of the country’s total credit card spending. Notably, nearly half of these transactions are facilitated through the Unified Payments Interface (UPI), highlighting the
Finance

UPI’s Remarkable Growth in India’s Digital Payments

By Editor - News Desk January 28, 2025
Since its inception in 2016, the Unified Payments Interface (UPI) has revolutionized India’s digital payment ecosystem, experiencing exponential growth over the past five years. In 2019, UPI accounted for 34% of the country’s digital transactions; by 2024, this figure had surged to an impressive 83%. In 2024 alone, India recorded 208.5 billion digital payment
Finance

Government Pushes for Geotagging of Banking Correspondents

By BPN News Desk January 15, 2025
The Ministry of Finance is exploring a proposal to implement geotagging for all banking correspondents (BCs) across the country. This initiative aims to enhance the efficiency of financial inclusion efforts, ensuring better access to banking services in underserved areas. Enhancing Financial Inclusion Geotagging involves attaching geographical information to the locations
Finance

Microfinance Institutions Urge RBI to Relax Regulatory Norms

By BPN News Desk January 10, 2025
Microfinance institutions (MFIs) in India are appealing to the Reserve Bank of India (RBI) to relax certain regulatory norms that they believe are hindering their operations and growth. This request comes amid challenges faced by the sector in extending credit to underserved populations. Key Concerns Raised by MFIs Stringent Capital Adequacy Requirements: MFIs argue that

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    Monsoon Stalls After Early Start, Likely to Resume by June 11

    June 5, 2025

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    India Halves Import Duty on Crude Edible Oils to Curb Inflation

    June 5, 2025

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    Adani Airports Secures $750 Million for Expansion and Debt Refinance

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    GST Council Plans to Scrap 12% Slab, Shift Items to 5% or 18%

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