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NPCI cuts daily UPI transactions to 10 to stop incentive driven fake activity

NPCI cuts daily UPI transactions to 10 to stop incentive driven fake activity

NPCI, the body behind India’s UPI payments system, has tightened rules by capping daily transactions per account at 10. This is a drop from the earlier limit of 20, introduced via a circular dated October 21. The move targets artificial, incentive-driven transactions that can distort usage patterns on the platform.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share

PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share

PhonePe strengthened its lead in India’s UPI ecosystem in March, with transactions up 88% to 1,050 crore and overall UPI volume hitting record highs. NPCI data shows the month’s transaction value climbed to 29.53 lakh crore. Google Pay and Paytm saw slight market-share declines, while smaller players like Navi and super.money gained modest ground. Regulatory moves on PPIs and new UPI use cases also loom.

Summarised by Beize from a story on Inc42 on 24 Apr 2026

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RBI unveils draft PPI rules 2026 to reshape wallets and KYC limits for users and fintechs

RBI unveils draft PPI rules 2026 to reshape wallets and KYC limits for users and fintechs

The RBI has released a draft Master Direction on Prepaid Payment Instruments (PPIs) 2026, replacing the current 2021 framework. It tightens KYC and sets wallet usage caps, including limits on monthly debits and outstanding balances. Small PPIs can be issued with minimal data but must convert to full KYC within two years. The draft also increases escrow supervision and extends wallet use cases for international tourists.

Summarised by Beize from a story on Startup Talky on 24 Apr 2026
Visa to appoint Suresh Sethi as India head to push digital payments and partnerships further

Visa to appoint Suresh Sethi as India head to push digital payments and partnerships further

Visa is reportedly set to appoint Suresh Sethi, the former CEO of Protean eGov Technologies, as its new India country head, succeeding Sandeep Ghosh. The move comes as Visa steps up focus on digital payments and deeper regional partnerships. With Sethi’s background across banking and technology, the leadership change signals a renewed effort to accelerate growth in India’s fast-evolving payments market.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
PhonePe raises Rs 3000 crore at Rs 98000 crore valuation and plots data centers and new finance bets

PhonePe raises Rs 3000 crore at Rs 98000 crore valuation and plots data centers and new finance bets

PhonePe has raised $350 million (about Rs 3000 crore) led by General Atlantic, valuing the startup at $12 billion (around Rs 98,000 crore). The company says it will invest in infrastructure such as data centers and expand into financial services including insurance, wealth management, and lending. The move follows recent Flipkart-PhonePe ownership separation.

Summarised by Beize from a story on Trak on 24 Apr 2026
India’s duopoly drift concentrates power as two firms dominate aviation and beyond

India’s duopoly drift concentrates power as two firms dominate aviation and beyond

India’s market structure is quietly consolidating into duopolies, with two dominant players reaching close to 90% control across sectors such as aviation, food delivery, and digital payments. The shift can tilt incentives away from customer service toward defending market positions, raising risks for consumers and innovation. The government is stepping in to create space for new competitors.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI drafts new rules for prepaid payments to tighten security and refunds

RBI drafts new rules for prepaid payments to tighten security and refunds

The Reserve Bank of India has released a draft proposal to strengthen the Prepaid Payment Instruments framework, aiming to support long-term growth. The plan focuses on enhanced transaction security, and more explicit guidelines for refunds and handling customer grievances. The RBI will consider public feedback until May 22, 2026, before finalizing the changes.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
UPI Set to Launch in Israel as Modi and Netanyahu Sign Major Payments Deal

UPI Set to Launch in Israel as Modi and Netanyahu Sign Major Payments Deal

India has signed an agreement to bring its Unified Payments Interface UPI to Israel after Prime Minister Narendra Modi’s state visit. The move signals a major push to take India’s instant digital payments rails beyond borders, potentially enabling smoother money transfers and payments between consumers and merchants in both countries.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
UPI growth skips rich states as cash comfort wins Gujarat Karnataka Delhi

UPI growth skips rich states as cash comfort wins Gujarat Karnataka Delhi

A surprising gap is emerging: India’s wealthiest states are moving to cashless payments more slowly, even as UPI adoption accelerates in many others. States such as Tamil Nadu and Andhra have led digital-payment growth, while Gujarat, Karnataka, and Delhi lag. The paradox points to how prosperity can shape payment habits differently than expected.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Paytm founder urges CBDC driven reforms to fast track IPO settlements and cut delays

Paytm founder urges CBDC driven reforms to fast track IPO settlements and cut delays

Paytm founder Vijay Shekhar Sharma is calling for regulatory and technology reforms to streamline India’s IPO process. His push centers on using CBDC, the central bank backed digital rupee, for IPO settlements—potentially shortening transaction timelines and enabling real-time fund transfers instead of relying on slower settlement cycles.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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India life insurance AUM tops 1 trillion as digital policy buying surges

India life insurance AUM tops 1 trillion as digital policy buying surges

India’s life insurance sector has crossed $1 trillion in assets under management, driven by rising savings and a fast digital shift in how people buy policies. Supportive regulation, better technology, and changing customer behavior are moving purchases online, expanding choice and tightening pricing. As protection merges with savings, life cover is becoming a mainstream financial tool.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India e rupee retail pilot expands RBI tests what changes for everyday payments

India e rupee retail pilot expands RBI tests what changes for everyday payments

RBI’s retail CBDC, the e rupee, began as a pilot in 2022 and signaled a major shift in India’s digital payments journey. The trial is aimed at shaping how a government backed digital currency could work for everyday transactions, from payment convenience to settlement and usability, before any wider rollout decisions are made.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
New ITR forms for FY 2025-26 tighten disclosures on political donations and F&O trades

New ITR forms for FY 2025-26 tighten disclosures on political donations and F&O trades

India’s tax department has released updated ITR forms for FY 2025–26 with stricter disclosure norms, without changing the overall structure. The updates target transparency in areas like political donations, F&O trading, and digital payments. Alongside these tighter checks, taxpayers get small convenience updates such as a secondary address field to streamline personal details filing.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
ONDC Swadeshi ambitions hit a speed bump as Paytm’s role faces sharper scrutiny

ONDC Swadeshi ambitions hit a speed bump as Paytm’s role faces sharper scrutiny

ONDC’s ride has reportedly hit a speed bump, raising questions about how quickly the network can regain momentum. Analysts point to a tough mix of needs: more capital, active buyer-side app participation, stronger industry partnerships, and policy nudges to rebuild user interest. The focus now shifts to whether leadership tied to Paytm can revive traction and trust.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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RBI eases e mandate rules removing extra authentication up to Rs 15000 for recurring payments

RBI eases e mandate rules removing extra authentication up to Rs 15000 for recurring payments

The Reserve Bank of India has rolled out a new e-mandate framework from 2026 that relaxes Additional Factor Authentication (AFA) for recurring digital payments. Transactions will be authorised without extra authentication up to Rs 15,000 each. RBI also allows recurring payments such as insurance premiums and mutual fund subscriptions up to Rs 1 lakh without additional authentication.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India weighs UPI link with Alipay+ to make overseas payments feel domestic

India weighs UPI link with Alipay+ to make overseas payments feel domestic

India and the central bank are reportedly in talks with Ant International to integrate UPI with Alipay+ for smoother cross-border payments. The plan would allow Indian travelers abroad to use UPI at merchants that are connected to Alipay+, reducing friction and improving payment convenience overseas. Sources say this could mark a major step for international usability of UPI.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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