UPI SERVICES
NPCI grants TPAP approval to Viyona Fintech
This milestone enables Viyona to offer Unified Payments Interface (UPI) services in collaboration with partner banks, further strengthening India's expanding digital payments ecosystem, Viyona Fintech said in a statement.
India, Israel to sign bilateral investment treaty this week
Israeli Finance Minister Bezalel Smotrich's upcoming visit to India aims to strengthen economic ties, with the signing of a bilateral investment treaty (BIT) expected. This BIT seeks to protect investors and boost confidence through assured treatment and dispute resolution. Discussions will also lay the groundwork for a free trade agreement (FTA) to further enhance trade between the two nations.
FDs fuel plastic dreams; PhysicsWallah revises DRHP
Happy Monday! Banks and fintechs launch low-limit secured credit cards to grow users. This and more in today's ETtech Morning Dispatch.
India reaffirms commitment to WTO-centred, fair trade system at SCO Trade Ministers' Meeting
India stressed the scope to leverage the Shanghai Cooperation Organisation's (SCO) collective strengths for shared prosperity at the SCO Trade Ministers' Meeting held in Vladivostok and highlighted the need for export diversification, reducing dependency, and building resilient supply chains, the Ministry of Commerce and Industry said in a statement Sunday.
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.
Centre issues draft standards to make everyday products accessible for people with disabilities
The government is drafting accessibility standards for everyday items. This includes kitchenware, furniture, and grooming products. The goal is barrier-free access for persons with disabilities. The standards cover 20 categories. They include braille, tactile features, and clear labeling. The framework follows the 'POUR' approach. Products must be Perceivable, Operable, Understandable, and Robust. The government will offer incentives for compliance.
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Bank holiday today: Are banks open or closed in your state on September 5, 2025 for Eid-e-Milad and Onam?
Is Today a Bank Holiday?: In September 2025, banks across several Indian states will be closed for Id-E-Milad and Thiruvonam, as per the RBI's holiday calendar. While digital banking offers convenient alternatives for many transactions, certain services like large cash handling and KYC updates still require in-person visits
Bank holiday for Onam, Eid-e-Milad: Are banks open or closed in your state tomorrow for these festivals?
Bank holiday: Banks in Kerala will be closed on September 4, 2025 and September 5, 2025, for Onam. Several other states will also observe bank closures on September 5, 2025 for Id-E-Milad and Thiruvonam. While branch services will be limited, digital banking options remain available for most transactions. Customers are advised to plan accordingly for any branch-dependent tasks.
Bank holiday today for Onam: Are banks open or closed today in your state for this festival? Check now
Bank Holidays Today: Onam, a harvest festival celebrated by the people of Kerala. Banks across various states will also be closed in September for Karma Puja, Id-E-Milad, and Durga Puja. Digital banking services will remain available, though some services require in-person visits.
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.
Account Aggregator ecosystem to unlock new frontiers in formal credit access: Finmin
The Account Aggregator (AA) ecosystem, launched in 2021, is rapidly expanding, fostering secure, consent-based financial data sharing. With over 2.2 billion accounts enabled and millions of users linked, it strengthens India's digital public infrastructure. Recognized during India's G20 presidency, AA is poised to boost formal credit access, particularly for MSMEs, contributing to India's Viksit Bharat vision.
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.
India to become world's third largest economy soon, says RBI Governor Sanjay Malhotra; hails PM Jan Dhan Yojana
RBI Governor Sanjay Malhotra stated that India is poised to become the world's third-largest economy, attributing this growth to the Pradhan Mantri Jan Dhan Yojana. He highlighted the scheme's success in opening 55 crore accounts, fostering financial inclusion and enabling citizens to participate in the nation's economic progress. India's recent GDP growth of 7.8% further supports this positive outlook.
Saturday bank holiday: Check if banks are open or closed today on August 30, 2025?
Indian banks will follow a specific schedule in August 2025. Branches will be open on the first, third, and fifth Saturdays. The second and fourth Saturdays are holidays. August 30, 2025, falls on a fifth Saturday. Check if banks are open or closed today. Several festivals will also lead to bank closures across different states.
Singapore PM to visit India next week, several MoUs likely to be signed
Singapore Prime Minister Lawrence Wong will visit India on September 2. Several MoUs are expected to be signed focusing on skill development, finance, and digital revolution. He will meet with Prime Minister Narendra Modi. The visit marks 60 years of diplomatic ties. Both countries will discuss trade, training, digitalisation, and healthcare.
India’s financial sector profits set to double by 2030; UBS sees NBFCs outpacing banks
India’s financial-services sector is set for robust expansion, with profits projected to nearly double by FY30. UBS sees NBFCs leading growth, driven by retail credit, wealth management, payments, and insurance, while banks lag amid margin pressures and weak corporate lending.
Reliance AGM 2025: Jio crosses 500 million customers, aims IPO by H1 2026, Mukesh Ambani says
Mukesh Ambani announced that Jio now has 500 million customers. He spoke at Reliance Industries' annual general meeting. Jio plans to file for an IPO in the first half of next year. Ambani highlighted Jio's role in ending digital poverty in India. He also mentioned Jio's contribution to India's digital infrastructure and 5G rollout.
India’s Q1 GDP growth at 7.8% shows stability, says CEA; calls tariffs an opportunity for reforms
India's GDP surged by 7.8% in Q1 FY26, marking the fastest expansion in five quarters, driven by strong consumption and investment. Despite a US tariff hike, the CEA sees an opportunity for domestic reforms and export diversification. Agriculture and services sectors boosted growth, while indicators like FMCG sales and PMI levels reflect positive economic momentum.
India, Africa to work to double bilateral trade by 2030: Piyush Goyal
Union Minister of Commerce and Industry Piyush Goyal stated that India and Africa will collaborate to double bilateral trade by 2030, with a focus on value addition, technology-driven farming, renewable energy, and healthcare. While addressing the valedictory session of the 20th CII India-Africa Business Conclave in New Delhi, Goyal stated, "Together, we can move from raw material exports to value-added production for global markets."
Jio Payments Bank to allow customers to invest idle deposits in overnight MFs
Jio Payments Bank plans to introduce 'Savings Pro,' an innovative savings account that auto-invests idle cash in overnight mutual funds for higher returns. The bank, serving over 25 lakh customers, aims to diversify revenue streams through various services and strategic tie-ups. Jio Financial Services focuses on unit economics and responsible growth, leveraging AI and analytics to enhance financial services.
Guarding the cyber pass
The UN's Global Mechanism for Cyberspace, a permanent forum born from 27 years of diplomacy, aims to foster responsible state behavior online. India, with its tech prowess and democratic values, is uniquely positioned to guide this initiative. By leveraging its digital transformation experience and commitment to inclusive governance, India can help bridge the digital divide and promote effective international cooperation.
India withstanding global trade shocks despite tariff pressure, but risks remain: FinMin Monthly Review
In July 2025, India's economy remained stable despite global trade challenges. Domestic demand and strong fundamentals supported growth. The government addressed tariff shocks with trade agreements like the India-UK pact. Economic activity was upbeat with record e-way bill generation and PMI growth. Inflation cooled, offering policy support. India's resilience was boosted by a sovereign rating upgrade and planned reforms.
Union Cabinet approves restructuring, extension of PM SVANidhi scheme for street vendors
The Union Cabinet has extended the PM SVANidhi scheme until March 31, 2030, with a Rs 7,332 crore outlay, benefiting 1.15 crore vendors. Loan limits are increased, and UPI-linked RuPay credit cards are introduced for timely repayment.
The ET Startup Awards 2025: Nominees for ‘Startup of the Year’ are here
Happy Wednesday! We at ETtech have been hard at work to bring you the 11th edition of The Economic Times Startup Awards (ETSA).
Navi plans to push ahead with credit on UPI: CEO Rajiv Naresh
Navi aims to leverage credit on UPI for growth in a saturated market. The company processes millions of UPI payments monthly. Navi wants to scale up its credit line on UPI, launched with Karnataka Bank. It also focuses on expanding its home loan business and direct-to-consumer insurance strategy. Navi plans to increase its assets under management through passive mutual funds.
The Economic Times Startup Awards 2025: Nominees for Best on Campus and Comeback Kid
We are excited to bring you the 11th edition of The Economic Times Startup Awards (ETSA). In the run-up to the coveted honours, we have the nominees for the Best on Campus and Comeback Kid categories for you today.
UPSC Recruitment 2025: Big opportunity with lecturer & prosecutor posts; Eligibility, salary, fees and how to apply
The Union Public Service Commission (UPSC) has announced a recruitment drive for 2025, seeking applications for Lecturer and Public Prosecutor positions. A total of 84 vacancies are available across various disciplines. Interested and eligible candidates can apply online through the official website, with the deadline for submission being September 11, 2025. Application fees vary based on category.
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