According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30% share of the volume of transactions processed via UPI.
The mandate, which was to take effect from the end of 2024, will now kick in at the end of December 2026, according to a statement from NPCI.
Google Pay and Walmart-backed PhonePe are the two most widely used apps in India to make UPI payments. Other players include fintech companies such as Paytm, Navi, Cred and Amazon Pay.
This story is from the January 01, 2025 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 01, 2025 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Trump comeback: Honda to go slow on new EVs
HONDA MOTOR WILL be cautious about starting production of new electric vehicles due to uncertainty about US President-elect Donald Trump's industrial policy, a senior executive of the Japanese automaker said on Tuesday.
Flying taxis are on the horizon
Taking Commuting To New Heights
Bid for 2036 Olympics takes pan-India route
Bhubaneswar, Bhopal, Pune to join Ahmedabad
Pritish Nandy dies at 73
VETERAN JOURNALIST, POET and filmmaker Pritish Nandy passed away in Mumbai on Wednesday, sources close to him said.
India seeks NRI participation in 'Viksit Bharat'
THE 18TH PRAVASI Bharatiya Divas (PBD) convention kicked off here on Wednesday, with external affairs minister S Jaishankar calling upon NRIs and Persons of Indian Origin to actively participate in the quest for a 'viksit Bharat' (developed India).
SC: Examine proposals to develop Sahara land
THE SUPREME COURT on Wednesday asked market regulator Sebi and the amicus curiae to examine two separate proposals of two firms for developing the Sahara Group's land in Mumbai to return investors' money.
Oil pares gains on dollar strength
OIL PRICES TRIMMED earlier gains on Wednesday as the dollar strengthened but continued to find support from a tightening of supplies from Russia and other OPEC members and a drop in US crude stocks.
Sebi issues guidelines for analysts & advisers
MARKETS REGULATOR SEBI on Wednesday said it has issued guidelines on the regulatory framework for research analysts and investment advisers to bolster investor protection and ensure transparency.
'Align AI and business goals for better results'
ENTERPRISES ARE increasingly recognising the value of multicloud architectures and the ability to capitalise on the unique strengths of various cloud platforms to enhance their operational capabilities, says Shailender Kumar, senior vice-president and regional managing director of Oracle India and Netsuite JAPAC. In this interview, he speaks to Sudhir Chowdhary on the emerging trends in cloud computing and how cloud providers are embedding AI capabilities into their services. Excerpts:
GCCs focus on skills-based hiring for growth
GCCs focus on skills-based hiring for growth
