RBI to extend UPI to feature-phone users
The Hindu
‘Move to deepen digital payments’
The UPI facility will soon be extended to feature phone users. At the moment, the unified payments interface (UPI) — the single largest retail payments system in the country in terms of volume of transactions for small-value payments — is available only for smartphones.
“To further deepen digital payments and make them more inclusive, ease transactions for consumers, facilitate greater participation of retail customers in various segments of financial markets and to enhance the capacity of service providers, it is proposed to launch UPI-based payment products for feature phone users, leveraging on innovative products from the RBI’s regulatory sandbox on retail payments,” the RBI said.
The regulator has also proposed to make the process flow for small-value transactions simpler through an ‘on-device’ wallet in UPI applications. It has also decided to enhance the transaction limit for payments through UPI for the Retail Direct Scheme for investment in G-secs and Initial Public Offering (IPO) applications from ₹2 lakh to ₹5 lakh. Ajay Chaurasia, Head of Product, RupeeRedee, a digital lending app, said, “This move will help RBI to reach out to underserved population or potential users located in low-connectivity areas by deploying cost-saving methods to provide increased access to digital payment methods.”
Mercedes-Benz India will increase vehicle prices by up to 2% in January to counter rising costs and currency pressures.
CCI is investigating if IndiGo violated competition norms amid significant flight disruptions and concerns over its dominant market position.
The Coal Controller Organisation is appointed to regulate and register proposed coal exchanges, enhancing market competition and oversight.
The rupee hits a record low amid U.S. trade stalemate and portfolio outflows, prompting potential RBI intervention.
November 2025 sees robust growth in India's auto industry, with record sales in passenger vehicles, two-wheelers, and three-wheelers.
Stock markets soar as Sensex and Nifty extend gains in early trade, driven by positive global trends and U.S. rate cuts.
Petroleum and Natural Gas Rules 2025 amended to enhance business ease, extend lease durations, and strengthen domestic exploration infrastructure.
Tata Hitachi strengthens its focus on India's construction market amid global tariffs and rupee depreciation, leveraging local growth opportunities.
Domestic household savings replace foreign institutional money, giving Indian markets stability but raising concerns about unequal participation and limited returns for new retail investors. Access asymmetry and unequal outcomes emerge as key challenges, making investor protection, lower fees, passive investing, and stronger governance crucial.
The Ministry of Petroleum and Natural Gas (MoPNG) should work closely with the Ministry of External Affairs (MEA), and other concerned government agencies, to strengthen diplomatic engagement with oil-producing countries, secure favourable investment terms and address tax and regulatory hurdles faced by public-sector enterprises (PSEs) abroad, the parliamentary committee on public undertakings (2025-26) stated in their latest report tabled Wednesday.
Why is the rupee falling? Is it falling worse than other currencies? Does the fall hurt or help the Indian economy? And finally, is this a cause for alarm? Here we discuss these questions.
There’s great momentum in India in terms of AI and agentic AI applications getting deployed, observed Satya Nadella, Chairman and Chief Executive Officer, Microsoft.
Prada partners with Indian organizations to create a limited-edition sandal collection inspired by traditional Kolhapuri Chappals.