The fintech space has seen several important updates over the past few weeks. From UPI expanding its global reach to new regulatory moves by RBI and SEBI, the ecosystem continues to become more digital, connected and compliance-driven.
With EnFin, we bring these key developments together in one place, making it easier to understand what is changing across payments, banking, digital infrastructure and financial services.
New Labour Code Requires Job Role and Workplace Details in Appointment Letters
India’s new labour code rules may make appointment letters more detailed and transparent. Employers will need to mention the employee’s role, nature of appointment, wages, workplace, allowances, social security benefits and key service conditions. The change is especially important for informal and semi-organised sectors, where written employment terms are often unclear or missing.
Originally posted by The Economic Times
NPCI Plans Unified E-mandate Tracking Across All UPI Apps
NPCI is planning a unified e-mandate tracking feature across UPI apps. Users may soon be able to view all their UPI AutoPay mandates and subscriptions in one place, even if they were created on different apps. However, cancellation or changes may still need to happen through the original app where the mandate was created.
Originally posted by The Economic Times
SEBI Draft Ad Code May Bring Influencers, Anchors and Athletes Under Celebrity Endorsement Rules
SEBI’s draft advertising code may bring influencers, anchors, athletes and virtual avatars under celebrity endorsement rules. Influencers with over 5 lakh followers on a single platform may qualify as celebrities. The proposed code could apply to brokers, mutual funds, investment advisers, research analysts, PMS managers and online bond platforms, making financial advertising more accountable.
Originally posted by Moneycontrol
Centre Ratifies 8.25% EPF Interest Rate as EPFO 3.0 Plans UPI and ATM Withdrawals
The Centre has ratified an 8.25% EPF interest rate for FY2025-26. EPFO 3.0 is also expected to make provident fund access more digital, with proposed UPI and ATM-based withdrawal options. Once rolled out, subscribers may be able to view eligible balances and transfer money to their seeded bank accounts with less paperwork.
Originally posted by Livemint
The World Bank has approved $1.5 billion in financing to support India’s structural reforms and private sector-led job creation. The programme is expected to support reforms that improve business conditions, strengthen entrepreneurship and create employment opportunities for young Indians entering the workforce over the next two decades.
Originally posted by Moneycontrol
NPCI BHIM Appoints Gaurav Kochhar as Chief of Business to Accelerate Digital Payments Growth
NPCI BHIM Services Limited has appointed Gaurav Kochhar as Chief of Business. He will focus on merchant acquisition, business development, partner engagement and expanding BHIM’s digital payment offerings. Kochhar has over two decades of experience across banking, fintech and telecom, including leadership roles at ICICI Bank, HDFC Bank, Vodafone and Spice Communications.
Originally posted by ETBFSI
Delhi Traffic Police Joins NPCI Bharat Connect to Enable Digital E-challan Payments
Delhi Traffic Police has joined NPCI Bharat Connect, allowing citizens to search, view and pay e-challans through Bharat Connect-enabled apps. The integration brings traffic fine payments into the BBPS ecosystem, with SBI acting as the Biller Operating Unit. This makes civic payments more interoperable and easier to access digitally.
Originally posted by CNBC-TV18
SEBI Plans Simpler Rulebook for Stock Exchanges by Removing Obsolete Provisions
SEBI is planning to simplify the regulatory framework for stock exchanges and clearing corporations. The proposal aims to remove obsolete provisions, reduce compliance requirements and consolidate multiple circulars into simpler master circulars. This is part of SEBI’s broader ease-of-doing-business push for market infrastructure institutions.
Originally posted by The Economic Times
BHIM UPI Set to Offer Financial Products Beyond Payments
BHIM UPI is looking beyond payments and may offer a wider bouquet of financial products. The move could help BHIM build revenue streams beyond core UPI transactions, while strengthening its role in financial services distribution. It also signals how UPI apps may gradually evolve from payment utilities into broader digital finance platforms.
Originally posted by The Hindu
RBI Sets Final Rules to Curb Mis-selling Through Financial Product Incentives
RBI has issued final guidelines on marketing and sales incentives for financial products, effective January 1, 2027. Third-party incentives to employees of regulated entities will be prohibited, while banks and NBFCs can still incentivise their own staff. The move aims to reduce aggressive selling and ensure products are recommended based on customer suitability.
Originally posted by The Economic Times
NPCI Launches Drunix to Support Blockchain and Tokenization Infrastructure
NPCI has launched Drunix, an open-source blockchain platform built to support tokenization, digital assets and enterprise blockchain networks. Designed as an enhanced fork of Hyperledger Fabric, Drunix aims to help organisations experiment with scalable blockchain infrastructure. The launch also signals NPCI’s growing role in building digital infrastructure beyond core payment rails.
Originally posted by Business Standard
PhonePe and Google Pay’s Combined UPI Market Share Falls Below 80%
PhonePe and Google Pay’s combined UPI market share fell below 80% for the first time in May 2026, reaching 79%. Smaller apps such as BHIM, Navi and super.money have gained share. While the top two still dominate, the shift shows early signs of market diversification ahead of NPCI’s 30% market cap rule timeline.
Originally posted by Moneycontrol
NSE Files for ₹30,000 Crore IPO, Set to Become India’s Biggest Public Issue
The National Stock Exchange has filed draft papers for its long-awaited IPO, expected to be worth around ₹30,000 crore. The issue is likely to be a pure offer for sale, giving existing shareholders an exit route. If completed at this size, it could become India’s largest-ever public issue and a major capital markets milestone.
Originally posted by The Hindu
UPI has gone live at Galeries Lafayette Nice Massena in France, expanding its international acceptance. With this launch, UPI is now operational in nine countries, including Singapore, the UAE, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia and France. The rollout strengthens UPI’s position as India’s flagship digital payments infrastructure on the global stage.
Originally posted by NDTV
RBI Launches Mission SAKSHAM to Strengthen Urban Co-operative Banks
RBI has launched Mission SAKSHAM to build capacity across India’s urban co-operative banking sector. The initiative will focus on improving managerial capabilities, compliance culture and institutional resilience. Training will be delivered through in-person and e-learning formats, with content in regional languages wherever possible, helping strengthen governance across UCBs.
Originally posted by News On AIR
India, Nepal Launch UPI-NPI Linkage for Real-time Cross-border Remittances
India and Nepal have launched a direct UPI-NPI linkage for real-time cross-border remittances. Introduced by NPCI International and Nepal Clearing House, the service allows users to send money using mobile numbers or VPAs without sharing bank details. Currently available through select banks, the linkage is expected to make remittances faster, cheaper and more transparent for families across both countries.
Originally posted by The Economic Times
Banks Offer Up to 7% on Dollar Deposits for NRIs, OCIs and PIOs After RBI Measures
After RBI’s foreign-currency measures, banks are offering higher FCNR(B) deposit rates to NRIs, OCIs and PIOs, with some smaller lenders quoting around 7% on dollar deposits. The move comes as banks pass on benefits from RBI’s hedging support and look to attract foreign-currency inflows. For non-resident customers, dollar deposits now look more competitive than before.
Originally posted by Times of India
RBI Cancels Registration Certificates of 135 NBFCs
RBI has cancelled the registration certificates of 135 non-banking finance companies. Separately, 13 NBFCs have surrendered their licences due to reasons such as exiting the business, merger, dissolution or ceasing to be legal entities. The move reflects RBI’s continued clean-up of inactive or non-compliant financial entities and its focus on stronger oversight in the NBFC sector.
Originally posted by The Economic Times Legal
Banks Can Lend Only to SEBI-registered and Listed REITs, InvITs Under RBI Guidelines
RBI has allowed banks to lend to REITs and InvITs, but only under strict conditions. Banks can lend only to SEBI-registered and listed trusts with revenue-generating assets and positive operating cash flows. Exposure limits and leverage checks will also apply. The framework gives REITs and InvITs access to bank funding while keeping risk controls in place.
Originally posted by The Hindu BusinessLine
SEBI Proposes to Limit Salary Disclosure of AMC Top Employees
SEBI has proposed easing salary disclosure norms for asset management companies. Instead of individual, name-wise salary disclosures of top employees and high earners, AMCs may be allowed to disclose compensation on a consolidated basis. The proposal aims to balance transparency with employee privacy, while reducing the level of personal remuneration data available in public disclosures.
Originally posted by The Hindu
From UPI to PAN: Major Financial Changes Took Effect From June 1
Several financial changes came into effect from June 1, including stronger UPI verification for high-value payments, recipient name verification, cardless ATM withdrawal rules, PAN-related updates and advance tax deadlines. The changes show how digital transaction security, tax reporting and customer verification are becoming more structured across everyday financial activities.
Originally posted by NDTV Profit
UPI Goes Live in Cambodia; Indian Tourists Can Pay at 4.5 Million Merchant Outlets
UPI has gone live in Cambodia, allowing Indian travellers to make QR-based payments at over 4.5 million merchant outlets through KHQR, Cambodia’s national QR system. The rollout has been enabled by NPCI International and ACLEDA Bank. A future phase will allow Cambodian visitors to make payments at UPI QR-enabled merchants in India.
Originally posted by Mint
RBI Asks NPCI to Explore Raising UPI Transaction Limits for Select Use Cases
RBI has asked NPCI to explore increasing UPI transaction limits for select merchant payment use cases. Currently, most P2P and P2M payments are capped at ₹1 lakh, while some merchant categories allow up to ₹5 lakh. RBI clarified that the P2P limit will remain ₹1 lakh, and higher limits will need proper safeguards.
Originally posted by News On AIR
SEBI Introduces New Regulations for Sharing Real-time Price Data With Third Parties
SEBI has introduced rules for sharing real-time price data with third parties to prevent misuse. Market data can be shared for investor education and awareness, but without monetary incentives and with a one-day delay. Market infrastructure institutions and intermediaries must also conduct due diligence and include safeguards in data-sharing agreements.
Originally posted by News On AIR
UPI Hits Record High in May With ₹29.90 Lakh Crore Transactions
UPI recorded its highest-ever month in May, processing 23.2 billion transactions worth ₹29.90 lakh crore. This crossed April’s 22.35 billion transactions and ₹29.03 lakh crore value. The growth reflects deeper digital payment adoption across consumer spending, travel, seasonal purchases and everyday transactions.
Originally posted by Times of India
CBSE Activates Multiple Payment Gateways for Re-evaluation Applications
CBSE activated multiple bank payment gateways for Class 12 verification and re-evaluation applications, including SBI, Canara Bank, Bank of Baroda and Indian Bank. Students can pay through UPI, net banking, debit cards and credit cards, without needing accounts in those banks. Nearly 40,000 students had successfully submitted applications through the portal.
Originally posted by The Financial Express
SEBI Expresses Concern Over Decline in Number of Registered Investment Advisers
SEBI has raised concern over the declining number of registered investment advisers in India. The regulator has taken steps to ease eligibility, documentation and transition norms for advisers. SEBI also urged advisers to build responsible investing awareness and guide investors against fraud, cyber risks and unsafe payment practices.
Originally posted by News On AIR
RBI Plans to Expand Digital Rupee Use in Welfare Schemes and Cross-border Payments
RBI plans to expand the digital rupee across welfare payments and cross-border use cases. The central bank has already tested CBDC-linked welfare pilots in areas such as food subsidies and direct benefit transfers. It is also exploring overseas payment pilots with Singapore and the UAE, while participating in broader global CBDC initiatives.
Originally posted by Reuters
That wraps up this edition of EnFin. The latest updates show how fintech is moving ahead through steady progress across payments, regulation, cross-border transactions and financial infrastructure.
We will continue to track these changes and bring you the updates that matter.
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