NPCI
SBI customers alert: Internet banking, YONO and other services to face outage on September 7
State Bank of India (SBI) has announced that its internet banking, YONO Lite, and related services will be temporarily unavailable on September 7, 2025, from 1:20 AM to 2:20 AM IST due to scheduled maintenance. During this period, UPI Lite and ATM services will remain operational. SBI advises customers to plan their online transactions accordingly to avoid any inconvenience.
UPI limit increased to Rs 10 lakh within 24 hours for these transactions
NPCI has increased the per-transaction and 24-hour aggregate UPI limits for specific categories, effective September 15, 2025. Capital markets, insurance, and government e-Market Place transactions now have a Rs 5 lakh per-transaction limit and a Rs 10 lakh daily limit. Credit card payments and collections will also see increased limits, enhancing convenience for high-value transactions with verified merchants.
NPCI raises UPI transaction limit to Rs 5 lakh for high-value payments
The relaxed transaction limit will apply to categories, including insurance, travel, jewellery, and credit card bill payments, among others.
India steady amid levy, GST kitty up 6.5% in August
India's economy showed resilience in August, with strong domestic GST collections and UPI transactions offsetting concerns about higher US tariffs and declining car sales. Manufacturing activity surged, and power consumption rose, indicating robust domestic demand. While overall GST collection saw modest growth, economists remain cautious about external headwinds and tariff-related uncertainties impacting future growth.
Monthly UPI transactions cross 20 billion for first time in August
According to data shared on social media by the Department of Financial Services, the total UPI transaction count touched 20.01 billion in August 2025. UPI recorded 20.01 billion transactions amounting to Rs. 24.85 lakh crore. The year-on-year (YoY) growth stood at 34% in transaction count and 21% in transaction amount.
UPI sets remarkable new volume milestone in August
Unified Payments Interface transactions have surpassed 20 billion in August. Data from the National Payments Corporation of India shows a rise in volume and value. Transaction amount registered a growth of 21 percent. Volume grew by 34 percent. UPI now accounts for 85 percent of India's digital transactions. It is live in seven countries, including France, marking its European entry.
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Paytm explains on Google Play Alert, No issues with Paytm UPI, Only Recurring Payments to be Updated to New UPI handles
Paytm has clarified that Google Play's notification regarding UPI handle changes was potentially misleading. The company assures users that regular UPI payments remain unaffected, with the update only impacting recurring transactions. Users need to switch their @paytm handle to a bank-specific one like @pthdfc before August 31, 2025, as part of Paytm's transition to a Third Party Application Provider.
Paytm clarifies no disruption to UPI payments following Google Play alert
Paytm clarifies Google Play's alert about UPI handle changes. There is no disruption to regular UPI payments. Only recurring payments need updates. Users must change their @paytm handle to a bank-linked handle. This change is due to NPCI's TPAP migration. The deadline for updating recurring mandates is August 31, 2025. Paytm reassures customers that all other UPI transactions remain unaffected.
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.
ET WLF 2025: ‘Beyond cards, beyond OTPs,’ says Rajat Taneja
Visa is engaging with Indian stakeholders to revive the New Umbrella Entity (NUE) framework and explore alternative settlement systems, aiming to enhance interoperability with UPI and expedite transaction settlements. Visa envisions a future where digital credentials, enhanced by biometrics and AI, streamline payments and reduce reliance on traditional methods like OTPs and physical cards.
Payments Council of India elects office bearers for 2025-27 term
Payments Council of India has re-appointed Vishwas Patel as chairperson. M N Srinivasu and Nalin Bansal are appointed as co-chairpersons. Their term will be for 2025-27. PCI supports digital payments growth. It aims to reduce cash usage and promote financial inclusion. The council works with regulators like RBI and the Finance Ministry.
HDFC Bank invests in BharatGPT creator CoRover
HDFC Bank has made its first investment in generative AI by funding Bengaluru-based CoRover, the developer of BharatGPT. This move highlights HDFC Bank's focus on India's linguistic diversity and AI innovation. The partnership aims to scale BharatGPT's reach, providing AI solutions in multiple Indian languages across critical sectors, especially in areas with limited internet access.
Subsidy outlay of Rs 437 crore for UPI, RuPay transactions may be revised upward: SBI economists
SBI economists say the Rs 437 crore subsidy for UPI and RuPay in FY26 may be increased, as UPI participants face costs up to Rs 5,000 crore. They raised concerns over the dominance of PhonePe and Google Pay, urging support for domestic fintech and better data reporting across more merchant categories.
UPI transactions surge in 2025, daily average value crosses Rs 90,000 crore in August: Report
UPI transactions in India have surged in 2025, reflecting a significant expansion in both value and volume. Average daily transaction values climbed steadily, reaching Rs 90,446 crore in August, while transaction volumes hit 675 million. Maharashtra leads state-wise UPI adoption, indicating a widespread shift towards digital payments across the nation.
Here’s why you should apply for a RuPay credit card
Learn about RuPay credit cards, their UPI integration, and how to apply for RuPay credit cards online. Discover the advantages of India's own payment network.
Credit on UPI; Amazon rushes into quick commerce
Banks are finally looking to disburse loans via UPI, with initial trials in progress. This and more in today's ETtech Morning Dispatch.
Banks are fast warming up to UPI credit line for small value loans
After delays, UPI credit lines may gain traction as banks explore offering small loans to new customers via UPI apps. Banks like ICICI and Karnataka Bank are considering scaling up the product through platforms like PhonePe and Paytm. Clarifications from the RBI regarding product functioning have paved the way for early tests, potentially boosting UPI's transaction volume and adoption.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
UPI powers half of world’s real-time transactions, says PM Modi
Prime Minister Modi announced on Independence Day that India's UPI handles 50% of global real-time transactions, calling it a 'wonder'. With 1,947 crore transactions processed in July 2025 alone, UPI is now operational in seven countries, including France, marking its European debut.
NPCI to stop UPI P2P 'collect requests' from October 1 to combat fraud
To combat financial fraud, the National Payments Corporation of India (NPCI) has directed banks and payment apps to discontinue peer-to-peer (P2P) 'collect requests' on UPI by October 1, 2025. This decision impacts major UPI apps like PhonePe, Google Pay, and Paytm. The move aims to enhance security by ensuring all P2P transactions are payer-initiated, reducing the risk of fraud.
BookMyShow-RuPay announces ‘Live Events Passport’ with exclusive access to Sunburn, Lollapalooza, Bandland & more
RuPay and BookMyShow collaborate for a 'Live Events Passport'. This partnership offers RuPay customers exclusive access to events like Sunburn and Lollapalooza India. Cardholders get early ticket access, priority seating, and VIP perks. The collaboration aims to enhance RuPay's brand engagement. It also targets digitally savvy consumers. This alliance aligns with RuPay's strategy to connect with high-engagement segments.
SBI hikes IMPS charges from August 15, 2025: See what PNB, Canara Bank are charging
State Bank of India is set to revise its IMPS transaction charges for retail customers starting August 15, 2025. Online transactions above Rs 25,000 will attract nominal fees, while small-value online transfers remain free. Salary package account holders will continue to enjoy waivers for online IMPS transfers, while branch channel charges remain unchanged.
ETtech Explainer: How the rise in online payment frauds pushed NPCI to kill ‘pull’ transactions
A pull transaction, which goes by “collect” or “request money” on some apps, is initiated by the recipient, who sends a payment request. The payer receives a notification asking for approval of the payment. This feature has sometimes led to confusion or enabled manipulation.
NPCI shuts UPI pulls; Nykaa Q1 shows growth
Happy Wednesday! To curb rising fraud, NPCI urges banks and fintechs to stop UPI pull transactions. This and more in today’s ETtech Morning Dispatch.
NPCI to push out pull transactions from November with eye on reducing UPI scams
NPCI is discontinuing recipient-initiated person-to-person digital payments, known as ‘pull’ transactions, via UPI from October 31. This decision aims to reduce the increasing incidents of online fraud, where users are tricked into authorising payments. While P2P pull transactions constitute a small percentage of total UPI transactions, their misuse has prompted this measure.
Groceries, supermarkets lead UPI merchant payments in July; debt collection tops by value
Among remitter banks, SBI led with 5.21 billion transactions, followed by HDFC Bank (1.54 billion), Bank of Baroda (1.33 billion), and Union Bank of India (1.2 billion). On the payment service provider side, Axis Bank processed the highest volume at 7.23 billion transactions with a 93.26% approval rate, followed by Yes Bank and ICICI Bank.
UPI services restored after brief outage caused by bank-side technical issues says NPCI
UPI services faced a significant nationwide disruption on Thursday due to internal technical issues at certain participating banks, as confirmed by NPCI. This outage resulted in widespread transaction failures, impacting payments, fund transfers, and app access for numerous users. Despite this temporary setback, UPI continues to exhibit strong growth, with July transactions reaching a record high of 19.47 billion.
UPI services down? Many users report outage while making payments online
UPI services experienced a significant nationwide disruption on Thursday, impacting numerous users' transactions. Downdetector reported nearly 200 incidents around 8:30 pm. This outage occurred despite UPI reaching a record high of 19.47 billion transactions in July, amounting to Rs 25.08 lakh crore, according to NPCI data.
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