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India"s payments ecosystem is focusing on migrating low-ticket transactions to UPI Lite, according to NPCI CEO Dilip Asbe. The Reserve Bank of India has also increased the transaction limit for UPI123Pay from Rs 5,000 to Rs 10,000 and raised the UPI Lite wallet limit to Rs 5,000, with a per-transaction cap of Rs 1,000.
Paytm's parent company, One 97 Communications, has received approval from the NPCI to onboard new UPI users, ending a nine-month embargo by the RBI. This development comes after the company reported a net profit of ₹930 crore in Q2FY25, largely due to a one-time gain from selling its movie ticketing business, although it would have otherwise faced a net loss of ₹415 crore. Despite a 5% rise in stock this year, Paytm has underperformed compared to Nifty's 12% returns.
Dilip Asbe
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India"s payments ecosystem shifts low-ticket transactions to UPI Lite strategy
Indian Rupee
State Bank of India
National Payments Corporation OF India
IND
Shaktikanta Das
Dilip Asbe
10:13 19.11.2024
Paytm gains NPCI approval for new UPI users amid mixed Q2 results
Indian Rupee
Reserve Bank OF India University/AOP/Society
One97 Communications Limited
National Payments Corporation OF India
Zomato Limited
IND
Vijay Shekhar Sharma
Dilip Asbe
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05:10 23.10.2024
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