RBI UPI RULES
Grey zone in Indian payment laws: Crypto goes shopping in rupee using QR-linked loophole
Unified payments interface is now being used for buying cryptocurrencies through applications like goat.cash. Consumers can conveniently convert their cryptocurrencies, such as USD Coins, to pay vendors for goods. This involves scanning QR codes and entering necessary details, which facilitates quick transactions. Intermediaries help complete the process by converting USDC to rupees for vendors. Additionally, stable coins often trade at a premium within the Indian market.
Lost money to a UPI scam? The first 3 days could decide how much you can recover
In the blink of an eye, UPI scams can wipe out your bank savings, but there's hope for victims. The Reserve Bank of India stands ready to safeguard you against unauthorized transactions. Discover essential actions to take the moment fraud strikes, understand how liability is assessed, and find out what steps to take if your bank turns down your claim.
Insurance agent deposits Rs 35 lakh cash collected from policyholders in his bank account, gets tax notice; he fights and wins in ITAT Jaipur
Policyholders gave Rs 35 lakh cash as insurance premiums which agent deposited in his bank a/c; Income Tax Dept sent agent notice for unexplained cash; he wins case in ITAT Jaipur.
New Rs 10, Rs 20 & Rs 50 notes to run short before Diwali? PIB Fact Check debunks viral RBI circular
A viral WhatsApp message claiming that new Rs 10, Rs 20 and Rs 50 notes may be in short supply ahead of Diwali has been debunked by PIB Fact Check. The agency clarified that the RBI has made no such announcement and urged people not to share unverified claims.
Good intentions, unintended consequences: The cost of regulation
Regulation is vital for protecting consumers and building trust, but unpredictable or poorly calibrated policy changes can disrupt business economics, valuations and investment.
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RBI steps in to support rupee as currency nears record low; tightens forex rules
The Reserve Bank of India has announced new measures aimed at stabilizing the rupee's value in foreign exchange markets. These measures include tightening foreign exchange derivative norms and creating a special window for oil marketing companies. By implementing a cash reserve requirement for large forex derivatives, the central bank seeks to curb speculative dollar demand. The impact of these interventions is expected to affect the rupee's value and forward premiums.
Compensation of Rs 100 to Rs 5,000 per day for delay by bank in processing your request in these 5 situations
From stuck credit card closure requests to lost property papers, RBI rules require banks to pay you for every day they're late. A customer earlier this year won Rs 3.21 lakh for a delayed credit card closure. Here are 5 situations where the clock ticks in your favour, with compensation ranging from Rs 100 to Rs 5,000 a day.
October 2026 rule changes: No PUC, no fuel, higher Mumbai tolls, UPI charges and 4 more updates
October 2026 brings seven rule and policy changes that could affect motorists, businesses and consumers across India. The updates include Delhi’s no-PUC, no-fuel rule, higher toll rates for commercial vehicles entering Mumbai, UPI charges on certain merchant payments, revised ATM limits for some bank customers, Aadhaar authentication for subsidised LPG and new NPS charges.
Bank holidays in October 2026: Gandhi Jayanti, Dussehra, Durga Puja, and more; check full list
In October 2026, Indian banks will observe several holidays coinciding with major festivals like Dussehra and Chath Puja. The Reserve Bank of India's holiday calendar outlines these closures, which vary by region due to local traditions. While physical branches might be closed, online banking services will still be operational, providing customers the convenience to manage their finances during the festive period.
Apple Pay India launch may change payments in iPhones: Expected date, banks supported, UPI access and features
Apple Pay is expected to launch in India next month with Axis Bank credit cards, ahead of wider bank support, Reuters reported. The service will focus on card based tap and pay payments through Face ID and Touch ID, separate from India's dominant UPI network, with HDFC Bank and ICICI Bank still finalising their own tie ups.
5 rule changes from October 1: SBI ATM charges, MDR on UPI, bulk FD rates, KYC for LPG subsidy and more
In October 2026, significant changes to banking and finance regulations will take effect, impacting numerous services. Furthermore, the Reserve Bank of India will introduce new disclosure protocols regarding bulk fixed deposits, and UPI transaction fees will be revised for amounts exceeding Rs 2,000 starting October 15.
Das Kapital formation: Bengal needs clear intent to build industry, not shallow politics
West Bengal debates industrial land assembly mechanisms like acquisition and land pooling. Attracting capital requires institutional credibility and confidence in stable rules. The government is examining land pooling and industrial park development. Large contiguous land parcels are essential for investor confidence and project execution. Genuine intent to build industry is needed, not just political rhetoric.
UPI MDR kicks in October 15: RBI DG says merchant fee on payments above Rs 2,000 won’t trigger cash surge
In a recent statement, RBI Deputy Governor Shirish Chandra Murmu clarified that adopting a Merchant Discount Rate won't necessarily encourage more cash transactions. He highlighted the intriguing trend where digital transactions grow while cash circulation also rises, asserting that cash fulfills dual purposes as a transaction method and a valuable resource.
Digital gold may come under RBI, Sebi oversight; physical backing proposed
Discussions are underway to tighten digital gold rules, requiring physical bullion backing for every unit. The government is considering joint oversight by the Reserve Bank of India and Sebi. Digital gold, managing approximately three billion dollars in assets, is seen as an unregulated segment. Stakeholders agree that bringing this popular product under regulatory supervision is urgently needed.
UPI charges from October 15: FAQs on who will pay 0.4% MDR and what consumers, small vendors & large merchants need to know
UPI Payment: UPI transactions of up to Rs 2,000 will continue to be free for users. A new Merchant Discount Rate (MDR) will be introduced for certain merchant transactions above Rs 2,000. The revised framework is aimed at supporting investments in UPI infrastructure, innovation and cybersecurity. Most person-to-merchant (P2M) transactions are expected to remain unaffected. The new provisions will come into effect from October 15, 2026.
UPI MDR explained for investors: How will new charges impact your mutual fund SIPs and stock investments?
From October 15, MDR will apply to select UPI person-to-merchant payments above Rs 2,000, but not to all such transactions. UPI AutoPay and mandates will be treated separately, while mutual funds and capital-market payments will attract a lower MDR. Importantly, the charge will be borne by merchants, not customers, raising questions over its impact on SIPs and stock investments.
GFF 2026: FM Sitharaman on India’s tech leap, demographic dividend, AI risks and road to global scale
Global Fintech Fest: Sitharaman said that India was experiencing its demographic dividend in real time, with the country’s young population increasingly translating its potential into economic momentum.
GFF 2026: India's fintech transformation a result of innovation, inclusion & trust coming together, says RBI's Sanjay Malhotra
Malhotra said fintech’s potential could translate into meaningful impact only when innovation reached people who were not already well served by the financial system. At the same time, such innovation needed to remain firmly anchored in trust, he added.
Falcon launches MerlinFX AI agents to automate banking transactions in real-time
Falcon has launched MerlinFX, embedding AI agents directly into banking transaction systems. These agents automate tasks like reconciliation and fraud monitoring in real-time. Two agents are already in production, with five more rolling out to clients. This move addresses rising transaction volumes across digital payments and cards. Banks now leverage AI within workflows, not just for analysis.
Credit card lost, and someone used it; who will cover the lost money - you or the bank?
What if a transaction takes place after you lose your card, and you don’t block it before that? Who has the liability then - you or the bank? There could be an instance where, even when you have reported your credit card as lost/missing, an unauthorised transaction takes place because of the bank’s fault. What then? Do such transactions have impact on your credit score? Find out in this article.
Cash no king, but don't stash it: India wants a digital economy, but cash still holds the power of choice
Despite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especially in rural areas and for large-value transactions. While digital payments offer convenience, they have also led to increased cyber fraud and financial exclusion, particularly for women. The article suggests the government's push for digitalization may stem from a desire for control and programmatic payment disbursement rather than genuine welfare improvement.
Independence Day 2026: The road to UPI — India’s payments revolution was centuries in the making
India’s payments ecosystem has evolved dramatically, from hundis and merchant networks that moved value across long distances to formal banking, electronic transfers and the digital infra behind UPI. Each technological leap solved the same fundamental challenge: enabling money to travel securely and efficiently without physically moving cash from one place to another.
Time for a raft of reforms to make fintech sector leaner, more inclusive and resilient to risks
India is set to reform its fintech sector. The focus is on innovation and competition. Reserve Bank of India may simplify regulations. It may allow Non-Banking Financial Companies to issue Unified Payments Interface credit lines. Revamping New Umbrella Entity framework is also on the cards. No-action letters may encourage innovation. Digital bank licensing is also a possibility.
RBI introduces delegated payments through UPI
UPI Payments: The Reserve Bank of India rolled out a feature in August allowing delegated UPI payments. Primary users can approve transactions for secondary users, like minors, within set limits. The RBI also increased the tax payment threshold via UPI to Rs. 5 lakh, enhancing convenience and transaction speed.
UPI rule change: Soon use money in PhonePe, Amazon Pay, any wallet to pay via Paytm, other UPI apps; check RBI new rule
UPI rule change for PPIs: Currently, money in your prepaid wallet (like PhonePe) can only be used for UPI transactions through the app offered by the wallet issuer itself. This limits your options — you can't use PhonePe money on Paytm or BHIM, for example. To address this, the Reserve Bank of India (RBI) has proposed allowing users to link their prepaid payment instrument such as wallets with any third-party UPI app. This means greater flexibility. What changes for UPI customers? How is this move going to help you?
JusPay launches software to make digital wallets mutually compatible
The Reserve Bank of India (RBI) said in May 2021 that all prepaid cards and wallets that are full-KYC compliant must be fully interoperable – mutually compatible – by March 31, 2022.
Third-party apps turn on UPI autopay mode
Autopay allows users to make recurring transactions below Rs 5,000 through UPI apps. Most of these currently take place through card-based mandates that are more sophisticated, and settlements more expensive.
How WhatsApp got UPI licence: SC seeks reply from NPCI
The Supreme Court on Monday asked National Payment Corporation of India (NPCI) to file an affidavit explaining how WhatsApp was granted licence to commence app-based UPI payment services after RBI informed the court that NPCI was the owner and operator of UPI system.
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