Reserve Bank of India Archives

India in need of simplifying user verification process to bolster digital payments

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26 July, 2024

India in need of simplifying user verification process to bolster digital payments

While India has witnessed a surge in digital payments, the country’s KYC procedure continues to be cumbersome, especially for the...

From street vendors to large stores, Indian merchants adopt digital payments: survey

Finance

Pradipta Mukherjee

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17 July, 2024

From street vendors to large stores, Indian merchants adopt digital payments: survey

India is seeing a spike in the adoption of digital payments among merchants operating small stores and consumers paying items...

India’s NPCI, QNB Group to introduce UPI payments in Qatar

Finance

Pradipta Mukherjee

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16 July, 2024

India’s NPCI, QNB Group to introduce UPI payments in Qatar

Utilizing UPI payments in Qatar through the QNB merchant network is expected to significantly benefit Indian tourists visiting the country.

India’s UPI digital payment makes foray into UAE

Finance

Pradipta Mukherjee

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9 July, 2024

India’s UPI digital payment makes foray into UAE

Indians traveling to the UAE will soon be able to utilize the local UPI in POS terminals across the Gulf...

India’s retail CBDC usage drops amid growing UPI popularity

Finance

Pradipta Mukherjee

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3 July, 2024

India’s retail CBDC usage drops amid growing UPI popularity

With more locals utilizing UPI, India is struggling to promote its CBDCs, with both retail and wholesale CBDCs taking a...

Dealings in digital assets not illegal under Indian law, High Court rules

Finance

Pradipta Mukherjee

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25 June, 2024

Dealings in digital assets not illegal under Indian law, High Court rules

While India moves to regulate the digital asset space, a High Court ruled that digital currencies are not qualified as...

India registers fastest growth in Asia Pacific e-commerce payments, report shows

Finance

Pradipta Mukherjee

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19 June, 2024

India registers fastest growth in Asia Pacific e-commerce payments, report shows

Driven by the success of its UPI, India is emerging as a significant player in adopting non-cash, alternative payments in...

Reserve Bank of India plans ‘intelligence platform’ to curb digital payments fraud

Finance

Pradipta Mukherjee

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15 June, 2024

Reserve Bank of India plans ‘intelligence platform’ to curb digital payments fraud

As more transactions are done online, the risk of fraudulent activities increases, forcing the Reserve Bank of India to set...

Indian banks offer incentives to lift e-rupee use as wholesale CBDC usage plunges

Finance

Pradipta Mukherjee

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6 June, 2024

Indian banks offer incentives to lift e-rupee use as wholesale CBDC usage plunges

Local banks are actively offering cashbacks and reward points to woo customers into using the wholesale CBDC following a significant...

India’s market watchdog suggests multiple regulator supervision for digital assets

Finance

Pradipta Mukherjee

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20 May, 2024

India’s market watchdog suggests multiple regulator supervision for digital assets

While the RBI looks to ban stablecoins after imposing the harshest taxation on digital asset trading to regulate the market,...

India eyes extension of CBDC pilots to money market instruments, securities tokenization

Finance

Pradipta Mukherjee

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9 May, 2024

India eyes extension of CBDC pilots to money market instruments, securities tokenization

Apart from piloting India's CBDC in commercial papers and certificates of deposits, the Reserve Bank of India is also looking...

India’s central bank allows non-banking payment operators to offer CBDC wallets

Business

Pradipta Mukherjee

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11 April, 2024

India’s central bank allows non-banking payment operators to offer CBDC wallets

India's central bank is doubling down on its CBDC initiatives, announcing plans to make the digital rupee more accessible to...

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