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Unified Payments Interface or UPI, developed by National Payments Corporation of India (NPCI), has been a runaway success and is already operational in some countries, including Singapore and the UAE. Its monthly volume in the country crossed the 100-billion mark many months ago. RBI is in discussion with more central banks in other countries. Dismissing the criticism that NPCI, set up by RBI and other financial institutions, has become a monopoly, Shaktikanta Das said, it is the best creation.

Tightening The Reins: Indian Government Blocks Over 550 Illegal Betting and Gambling Apps  The Indian government has blocked over 581 applications, The Indian government has blocked 581 applications following inquiries by the Enforcement Directorate (ED) into an illicit betting app syndicate.

To stay ahead of the curve, card issuers and payment processors must embrace adaptability and sustained innovation.

According to information released by the National Payments Corporation of India (NPCI), the Unified Payments Interface (UPI) has surpassed the 100 billion dollar threshold.

In an end-of-the-year letter, Governor Shaktikanta Das also called on the Reserve Bank of India's staff to