The Reserve Bank of India (RBI) is proposing expanding the reach of the popular Unified Payments Interface (UPI) digital payments system by allowing credit to be offered via pre-approved bank lines. “This initiative will further encourage innovation,” RBI governor Shaktikanta Das said on Thursday during the announcement of the central bank’s monetary policy decision. UPI is an instant real-time payments system that allows users to transfer money across multiple banks without disclosing bank account details. Its popularity is seen to have reduced the usage of cash and debit cards for daily transactions. In March 2023, UPI recorded 8.65 billion transactions, amounting to 14.05 trillion rupees, its highest-ever since inception, data from the National Payments Corporation of India showed. In a bid to boost digital payments, the RBI recently allowed RuPay credit cards to be linked to UPI. This was to enable customers to link their credit cards and pay via UPI
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Medical inflation
Bill for regulatory panel needs serious discussion Aprivate member’s Bill introduced in the Rajya Sabha seeks setting up of a national commission to control medical inflation, an issue of immense public interest. CPI’s P Santhosh […]
Film
RELAX THIS SUMMER WATCHING WACO’S FILMS
By Mabel Pais Screening among Shorts RAGHAV PURI’S ‘ANIRUDH’ HRISHI BARDHAN’S ‘BIRDSONG’ MAHNOOR EUCEPH’S ‘EID MUBARAK’ And many more The Deep in the Heart Film Festival (DitHFF) of Waco, Texas presents its films and events […]
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Free run for bulldozers
Bypassing of due process a dangerous trend The no-holds-barred demolition of the house of Mohammad Javed, the alleged mastermind of Friday’s mob violence in Prayagraj, seems to be an instance of vindictive rather than administrative […]
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