Between year-end holidays and inbox overload, a few fintech updates were bound to slip through. EnFin brings together the most important movements across payments, banking, and regulation, giving you a clear view of what shaped the fintech landscape over the past few weeks.
RBI Postpones Cheque Clearing Phase 2 Rollout
The Reserve Bank of India has postponed the January 3 rollout of Cheque Clearing Phase 2 until further notice. The decision was taken to allow banks and clearing houses more time to strengthen operational preparedness and system readiness. The delay signals a cautious approach to large-scale infrastructure changes where ecosystem-wide alignment is critical.
Originally posted by Business Standard
GDP Growth May Moderate as Inflation Nears Target
An RBI panel member indicated that India’s GDP growth could see moderation as inflation moves closer to the 4 percent target. The comment highlights the central bank’s ongoing challenge of sustaining growth momentum while maintaining price stability amid shifting global and domestic macroeconomic conditions.
Originally posted by The Indian Express
RBI Moves to Mandate Advance Disclosure of Forex Charges
The RBI has released a draft proposal requiring upfront disclosure of hidden charges on foreign exchange transactions. The move aims to improve transparency, protect consumers, and help individuals and businesses better understand the true cost of forex services before completing a transaction.
Originally posted by The Economic Times
New NPCI Portal Improves Visibility into UPI Autopay Mandates
The National Payments Corporation of India has introduced a new portal to help users track UPI Autopay mandates. The platform allows users to view, manage, and cancel active e-mandates, offering greater control and transparency over recurring digital payments.
Originally posted by The Times of India
NPCI Considers New Limits to Curb UPI Fraud Risks
NPCI is evaluating additional limits and safeguards on certain UPI features that have shown higher fraud risk. The proposed measures are aimed at strengthening transaction security and maintaining trust in India’s rapidly expanding digital payments ecosystem, without slowing overall adoption.
Originally posted by NDTV Profit
RBI Updates Transaction Account Norms
The Reserve Bank of India has issued new Transaction Account Directions that simplify how businesses operate current and transaction accounts. The updated framework eases earlier restrictions, consolidates multiple guidelines into one set of rules, and improves compliance clarity for banks and corporates alike.
Originally posted by Financial Express
Delhi Traffic Police to Accept Challan Payments via UPI
The Delhi Traffic Police will soon enable motorists to pay traffic challans using UPI apps. The move aims to reduce cash handling, speed up payments, and improve on-ground compliance while making the process more convenient for citizens.
Originally posted by The Hindu
UPI Volumes Surge as QR Code Adoption Expands
UPI transaction volumes rose 34 percent year-on-year in Q3, while India crossed 709 million QR codes nationwide, according to data from Worldline. The numbers reflect deeper digital payment penetration across small merchants and everyday consumer transactions.
Originally posted by CNBC TV18
Rupee Recovers After RBI Steps into Forex Markets
The Indian rupee rebounded sharply after suspected intervention by the RBI in the foreign exchange market, ending a five-day decline. The recovery helped ease pressure from global dollar strength and ongoing capital outflows, signaling active monitoring of currency volatility.
Originally posted by The Economic Times
India’s UPI Emerges as the World’s Largest Real-Time Payment System
India’s UPI has been identified by the International Monetary Fund as the world’s largest real-time payment system. Accounting for nearly half of global real-time payment transactions, UPI processed about 129.3 billion transactions annually, ahead of peers like Brazil and Thailand. The data highlights India’s scale and maturity in digital payments adoption.
Originally posted by Financial Express
Digital Gold Purchases via UPI See Sharp Decline
Digital gold contract purchases through UPI fell 47 percent in November as investor interest shifted toward equity markets following a strong rally. Lower volatility in gold prices also reduced short-term speculative activity, contributing to the drop in UPI-linked digital gold transactions.
Originally posted by Business Standard
PM Calls on Citizens to Claim Unclaimed Deposits Worth Over ₹1 Lakh Crore
Narendra Modi urged citizens to check and claim unclaimed funds lying across bank deposits, insurance policies, and mutual funds, collectively exceeding ₹1 lakh crore. The government plans to simplify access through digital platforms to help individuals recover idle or forgotten savings.
Originally posted by Financial Express
SEBI Simplifies Re-KYC for NRIs Through Digital Verification
The Securities and Exchange Board of India has eased re-KYC requirements for NRIs by removing the need for physical presence in India. NRIs can now complete re-KYC entirely from overseas through digital verification, while existing security and compliance checks remain in place.
Originally posted by The Hindu
RBI Pushes for Simpler NBFC Group Structures
The Reserve Bank of India has asked large business groups to simplify complex and layered NBFC structures. The regulator flagged concerns that intricate ownership patterns can obscure risk, weaken oversight, and reduce transparency across the financial system.
Originally posted by The Economic Times
UPI Volumes Ease After Festive Spike, Year-on-Year Growth Stays Strong
UPI transactions saw a marginal dip in November after the festive surge in October. Despite the sequential slowdown, overall monthly volumes remained 32 percent higher than last year, underlining the steady expansion of digital payments beyond seasonal peaks.
Originally posted by The Economic Times
RBI Reaffirms India’s Domestic Systemically Important Banks for 2025
The Reserve Bank of India has designated SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks for 2025. These banks are required to maintain higher capital buffers to strengthen financial stability and reduce systemic risk in the banking system.
Originally posted by The Hindu
Government Launches Credit Assessment Model for MSMEs
The Government of India has introduced a new Credit Assessment Model (CAM) to standardize and automate MSME loan evaluations. The data-led framework aims to speed up credit decisions, improve transparency, and expand access to formal finance for small businesses.
Originally posted by PIB
RBI Consolidates Regulations into 244 Master Directions
The RBI has released 244 Master Directions, replacing more than 9,000 existing circulars. The consolidation is intended to simplify regulatory interpretation, reduce compliance complexity, and make it easier for banks and financial institutions to align with regulatory requirements.
Originally posted by Moneycontrol
India’s UPI Expands Cross-Border Acceptance to Cambodia
India’s UPI network has been extended to Cambodia, enabling Indian travelers to make cross-border payments using familiar UPI apps. The move strengthens digital payment interoperability and reflects growing international interest in India’s real-time payments infrastructure.
Originally posted by Business Standard
That wraps up this month’s EnFin. Even when calendars slow down, fintech doesn’t. Regulatory shifts, digital adoption, and infrastructure changes continue to push the ecosystem forward, and we’ll keep tracking them through EnFin.
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