Tag: NPCI

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IMF Lists UPI as World’s Largest Real-Time Payment System

Source:  PIB Subject:  Economy Context: The IMF has officially recognised India’s Unified Payments Interface (UPI) as the world’s largest real-time retail payment system by transaction volume. UPI accounts for 49% of all global real-time digital payments, far ahead of Brazil, Thailand and China. About IMF Lists UPI as World’s Largest Real-Time Payment System: What UPI …

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India Becomes Global Leader In Fast Payments – IMF Report

Syllabus: Economy Source:  DD News Context: India has become the global leader in real-time payments as UPI processed 18.39 billion transactions in June 2025, according to an IMF-supported report. About India Becomes Global Leader In Fast Payments – IMF Report: What the Report is? Jointly developed by the International Monetary Fund (IMF) and FIS Global, this …

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SEBI’s New Verified UPI Mechanism

Source:  IE Context: SEBI has announced a new verified UPI ID system for registered market intermediaries, effective from October 1, 2025, to curb rising cases of cyber fraud and impersonation in securities transactions. About SEBI’s New Verified UPI Mechanism: What It Is? A validated UPI payment framework for SEBI-registered intermediaries featuring exclusive UPI handles ending …

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UPI: Revolutionizing Digital Payment

Syllabus: Economy Source:  PIB  Context: Launched in 2016 by NPCI, India’s UPI has revolutionized digital payments, achieving record usage in October 2024 and showcasing India’s digital financial leadership. UPI and Its Unique Features: Round-the-Clock Transactions: Operates 24/7, including holidays, for seamless fund transfers. Single Interface: Integrates multiple bank accounts in one mobile application. Secure Authentication: …

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How India’s Digital Payment Revolution is Inspiring the World

GS Paper 3 Syllabus: Banking/ Financial Inclusion   Source: PIB, Forbes, PIB Context: In January this year, about eight billion (800 crores) transactions worth nearly $200 billion (Rs. 2 lakh crores approximately) were carried out on the Unified Payment Interface (UPI) What is Digital Payment System? A digital payment sometimes called an electronic payment, is …

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 22 February 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 11 February 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

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[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 7 January 2023

  InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to …

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UPI123Pay:

GS Paper 3: Topics Covered: Inclusive growth and issues arising out of it.   Context: The Reserve Bank of India has launched a new Unified Payments Interface (UPI) payments solution for feature phone users dubbed ‘UPI123Pay’.   What is UPI123Pay? UPI ‘123PAY’ is a three-step method to initiate and execute services for users which will …

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Nepal will be the first foreign country to adopt India’s Unified payments interface (UPI) system:

GS Paper 3: Topics Covered: Developments in Science and Technology.   Context: The National Payments Corporation of India (NPCI) has announced that the neighboring country of Nepal will be the first foreign country to adopt India’s UPI system.   What is UPI? Unified Payments Interface (UPI) is an instant real-time payment system, allowing users to …

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