India has decided to extend the deadline on capping the share of digital payment transactions by about two years to Dec 31, 2024, the National Payments Corporation of India (NPCI) said today.
The NPCI had said in late 2020 that payment firms will not be allowed to process more than 30% of the total volume of transactions on UPI from Jan 1.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The move comes as a breather to companies like Walmart Inc's PhonePe and Alphabet Inc's Google, which are among the leading digital money transfer apps in the country.
They are powered by the state-backed United Payments Interface (UPI) framework, which facilitates peer-to-peer money transfer online through mobile apps.
"Taking into account the present usage and future potential of UPI, and other relevant factors, the timelines for compliance of existing third party app providers who are exceeding the volume cap is extended by two years," NPCI said in a statement.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.