upi
By Mohammed Kudrati Several posts on social media, stating that all transactions done through the Unified Payments Interface (UPI) platform would attract a 1.1% fee, are misleading. Recent changes as outlined by the National Payments Corporation of India - the operator of the platform - have outlined an interchange of up to 1.1% from April 1 on transactions done above ₹2000 through Prepaid Payment Instrument (PPI) done through UPI. PPIs include mobile wallets, digital wallets or prepaid cards like Pockets by ICICI Bank, Paytm Wallet and Amazon Pay. The interchange will be charged to the mercha...
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By Kirti Rawat Will UPI be free or not? Will there be charges on transactions? Will RBI demand money from UPI for payments? These were some of the novice and popular fake opinions and questions floating around the internet last week since RBI floated a consultation paper on the same. In this episode of Kambakaht Paisa, Abhinav Trivedi & team try to decode why charging UPI transactions with a minimal fee in the long run is economically right, consequences it might entail if they are charged now, and how UPI became one of the world's best fintech revolutions.
BOOM Live
By Kirti Rawat Will UPI be free or not? Will there be charges on transactions? Will RBI demand money from UPI for payments? These were some of the novice and popular fake opinions and questions floating around the internet last week since RBI floated a consultation paper on the same. In this episode of Kambakaht Paisa, Abhinav Trivedi & team try to decode why charging UPI transactions with a minimal fee in the long run is economically right, consequences it might entail if they are charged now, and how UPI became one of the world's best fintech revolutions.
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By Mohammed Kudrati The Reserve Bank of India on Friday released its annual report for the financial year 2021 - 2022. In this period, it has highlighted the performance of all areas regulated it: from monetary policy and regulation to money and markets. The reports highlights the three major events shaping the course of the last financial year: the 'delta' wave, or the second wave of the COVID-19 pandemic led by the delta variant of the coronavirus in India, the 'omicron' wave and the start of the military conflict in Ukraine. Here's five interesting data points from the report 1. CurrencyThe...
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