Sebi plans to introduce a unique UPI address for registered market intermediaries to ensure secure payments and distinguish legitimate entities from fraudsters. The new UPI payment limit for capital market transactions is proposed to be Rs 5 lakh per day, and a special icon will help verify verified intermediaries.
Gujarat based GIFT-IFSC, a financial sector and special economic zone saw 60 FinTech registrations as per the Economic Survey 2025. GIFT IFSC has improved its FinTech rankings, climbing four places to rank 45. The innovation hub is giving them the advantage of regulatory sandboxes to test emerging technologies such as AI-driven financial services, embedded finance, …
Economic Survey 2025: FinTechs at GIFT IFSC gain momentum, 60 registered so far Read More »
Also, IFSCA has conducted 13 hackathons and received 152 applications from 14 jurisdictions under its FinTech Entity framework, it added.
PB Fintech reported an 88% YoY increase in Q3 profit, reaching Rs 71.54 crore, driven by a 48% rise in revenue and a 62% surge in insurance broker services. However, its credit business faced challenges due to the RBI’s crackdown on unsecured lending. The company’s shares rose 83.99% in the past year, outperforming its sector.
Mobile wallets are regaining traction in India. Global fintechs like Revolut and Tide are seeking licenses, while domestic players are entering the market. Transaction volumes are recovering after Paytm Payments Bank’s shutdown. New use cases, interoperability with UPI, and a focus on security are driving growth.
The app enables users to open savings accounts with YES Bank in minutes. It also allows to integrate all financial accounts into a single view through the Account Aggregator ecosystem, which has surpassed 100 million consents.
In transactions below Rs 500, P2M volumes surged from 291.54 crore in 2019 to Rs 9,112.72 crore in 2024, registering a CAGR of 99%.
MobiKwik has launched India’s first full-scale e-rupee (e₹) wallet in partnership with RBI and Yes Bank, marking a milestone in CBDC adoption. The e₹ wallet supports P2P and P2M transactions via UPI, with a ₹50,000 daily limit and ₹10,000 per transaction limit.
UPI P2M transactions have shown up to 100% growth from 2019 to 2024, significantly surpassing the P2P growth rate, as per RBI’s latest report. This trend highlights the rising use of UPI for small, medium, and high-value transactions in retail settings, reflecting enhanced consumer trust and broader acceptance in business payments.
INDIA-RBI-DIGITAL-Fintech firm Cred joins Indian central bank’s digital currency project
