India’s Immediate Payment Service (IMPS) saw an increase of 12.5% in the total number of transactions between November 2019 and December 2019, according to data published by the National Payments Corporation of India, which owns and operates IMPS. The NPCI is the bank-owned private organisation that also runs the Unified Payments Interface (UPI). IMPS transaction volumes increased on a monthly basis to 256.5 million (256,470,000 transactions) from 228.1 million transactions (228,080,000 transactions), while the amount transacted grew on a month-on-month basis by 4% to Rs 210,934.23 crore – the highest was reported in October 2019. The average transaction amount has decreased by 8% on a monthly basis to Rs 8,224 per transaction. Month-wise details Bank Status: 56 commercial banks have signed up for IMPS.
- India’s Finance Ministry notifies new angel tax rules for valuing investments in startups September 27, 2023
- Delhi High Court upholds stay on government circulars mandating Aadhaar for school admission September 27, 2023
- Manipur Government Suspends Internet Yet Again After Details Of Continued Violence Surface Online September 27, 2023
- Paytm loan value increases 137 percent year-on-year, say August performance results September 27, 2023
- US government sues Amazon for illegally maintaining monpoly in online shopping September 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...