: The Finance Ministry on Wednesday termed as "false, baseless, and misleading" speculation that the Merchant Discount Rate (MDR)will be charged on UPI transactions.
The claims that the government is considering levying Goods and Services Tax (GST) on UPI transactions over Rs 2,000 are completely false, misleading, and without any basis, said the Ministry of Finance in a statement Friday.
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the 'Incentive Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant (P2M)' for the financial year 2024-25.
The Unified Payments Interface (UPI) has registered achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, the Finance Ministry said on Saturday.
The value of digital payments has surged to Rs 1,669 lakh crore in the first five months (April-August) of the current financial year 2024-25, according to an official statement by the Ministry of Finance.
Payments through Unified Payments Interface (UPI) reported a 45 per cent yearly growth as per the data made available by the National Payment Corporation of India (NPCI).
For the first time, the total net profit of the banking sector crossed Rs 3 lakh crore in FY24, with all bank groups achieving a return on assets (ROA) greater than 1 per cent.
Mumbai (Maharashtra) [India], July 15: Kotak Bank announces the latest enhancement of its Kotak811 Banking App, boasting a revamped user interface for a truly intuitive experience. The app is poised to transform UPI transactions and other essential banking features, opening the door to a wor
Marking a strong turnaround, popular fintech brand Paytm said it is seeing early signs of recovery and strong stabilisation for its Unified Payments Interface (UPI) business.
According to a press release from the company, the "JioFinance" app offers an integration of digital banking services, including UPI transactions, bill payments, and insurance advisory.
According to the report, the volume of UPI transactions surged to 65.77 billion from 42.09 billion in H2 2022, accompanied by a 44 per cent increase in transaction value, soaring from RS 69.36 trillion to RS 99.68 trillion during the same period.