A lot has happened across fintech in recent weeks. Payments are expanding, digital systems are becoming more advanced, and financial regulations continue to evolve. Through EnFin, we bring these developments together in one place so you can stay updated on what is shaping the ecosystem today.
UIDAI Moves From mAadhaar to New Aadhaar App With QR and Face Authentication
UIDAI is phasing out the mAadhaar app and moving users to a new Aadhaar app with QR-based sharing and face authentication. The update aims to make identity verification more secure, private, and convenient for users.
Originally posted by The Financial Express
ATM Interchange Fee May Be Linked to WPI Under NPCI Proposal
NPCI may review ATM interchange fees and link them to the Wholesale Price Index. The proposal comes as ATM operators face rising costs related to rentals, power, cash handling, and maintenance across India’s ATM network.
Originally posted by Business Standard
CDSL Receives SEBI Approval for Two Executive Director Appointments
CDSL has received SEBI approval to appoint Amit Mahajan and Nayana Ovalekar as Executive Directors. The appointments will cover critical operations, regulatory compliance, risk management, and investor grievance functions, subject to shareholder approval.
Originally posted by The Hindu Businessline
Co-op Bank Directors Must Take Three-Year Break After 10-Year Tenure
Co-operative bank directors who complete 10 continuous years on the board must now take a three-year cooling-off period before reappointment. The rule aims to strengthen governance, reduce concentration of control, and improve accountability in co-operative banks.
Originally posted by Business Standard
UPI P2M Limit Raised for Select Verified Merchant Categories
NPCI has increased the UPI person-to-merchant transaction limit for select verified categories, allowing payments of up to ₹10 lakh per day. The change supports high-value digital payments while keeping person-to-person transfer limits unchanged.
Originally posted by News On AIR
CBSE Payment Gateway System to Be Overhauled After Portal Issues
The Centre has directed an overhaul of CBSE’s payment gateway system after students and parents faced technical issues on the re-evaluation portal. The review aims to improve payment reliability, reduce failed transactions, and enable quicker refunds.
Originally posted by DD News
NPCI Plans Unified Soundbox for All UPI Payment Apps
NPCI is working on a common soundbox platform that can confirm payments across all UPI apps. The move could reduce the need for merchants to use separate devices for different payment providers and make payment confirmation simpler at retail outlets.
Originally posted by The Economic Times
BHIM App Looks to Improve Revenue With New Financial Services
BHIM is exploring new financial services and app features to support profitability while working with banks. The plan aims to expand BHIM beyond basic UPI payments and create more use cases for users within the digital payments ecosystem.
Originally posted by The Hindu Businessline
SEBI Proposes Salary-Linked SIP Deductions for Mutual Funds
SEBI has proposed allowing mutual fund SIPs to be deducted directly from salaries, similar to PF and NPS contributions. The move could make disciplined investing easier for employees and support wider participation in mutual funds.
Originally posted by Moneycontrol
Banks May Face Wider Disclosure Requirements Under RBI Push
Banks may need to disclose more detailed information on capital, liquidity, and risk under proposed Basel III-related norms. The move aims to improve transparency, strengthen market discipline, and give stakeholders a better view of bank resilience.
Originally posted by The Times of India
Credit Card Transactions Grow 2.6 Times in Four Years
Credit card transactions have risen 2.6 times over four years, reflecting stronger adoption for consumer spending and digital payments. The growth also points to changing payment habits as cards continue to play a key role alongside UPI.
Originally posted by The Economic Times
Debit Card Usage Falls as UPI Dominates Payments
Debit card usage has declined as UPI now accounts for 85% of payment volumes. The shift shows how real-time, mobile-first payments are changing consumer behaviour and reducing dependence on traditional card-based transactions.
Originally posted by Business Standard
Investment Fluctuation Reserve Requirement Removed for Banks
Banks will no longer be required to maintain an Investment Fluctuation Reserve. The change is expected to simplify compliance and give banks more flexibility in managing investment portfolios under the updated regulatory framework.
Originally posted by ET Legal World
RBI and MHA Cyber Wing Partner to Crack Down on Mule Accounts
A new partnership between RBI’s innovation hub and the Home Ministry’s cyber wing aims to identify and prevent mule accounts used in financial fraud. The collaboration will use AI-led monitoring to strengthen fraud detection and prevention.
Originally posted by Indian Express
Trinidad and Tobago Becomes First Caribbean Nation to Adopt UPI
Trinidad and Tobago has become the first Caribbean country to adopt India’s UPI platform. The move expands UPI’s global reach and supports easier digital payments for businesses, consumers, and cross-border transactions.
Originally posted by News on Air
SEBI Penalises Kishore Biyani and Former Future Retail Executives
SEBI has imposed penalties on Kishore Biyani and former Future Retail executives over disclosure and governance lapses. The action highlights continued regulatory focus on corporate governance and compliance standards in listed companies.
Originally posted by Moneycontrol
RBI and European Central Bank Renew Information-Sharing Agreement
The RBI and the European Central Bank have signed a revised agreement to strengthen information sharing and central banking cooperation. The pact is expected to support closer engagement on financial stability, supervision, and regulatory practices.
Originally posted by The Economic Times
Mumbai-Based Sarvodaya Co-operative Bank Loses Banking Licence
The banking licence of Mumbai-based Sarvodaya Co-operative Bank has been cancelled due to inadequate capital and earnings prospects. Depositors will be eligible for insurance coverage under existing deposit protection norms.
Originally posted by Moneycontrol
UPI Transactions Rise 25% to 22.35 Billion in April
UPI recorded 22.35 billion transactions in April, marking 25% growth year-on-year. The increase reflects continued expansion in digital payments adoption across consumers, merchants, and everyday transactions.
Originally posted by DD News
UPI Marks 10 Years as World’s Largest Real-Time Payments Platform
UPI has completed 10 years, emerging as the world’s largest real-time payments platform. Its growth reflects India’s rapid shift toward digital payments and its role in supporting everyday transactions, merchant payments, and financial inclusion at scale.
Originally posted by DD News
NPCI Looks at Agentic AI for Faster UPI Compliance and Fraud Checks
NPCI is exploring agentic AI to improve UPI compliance cycles and fraud monitoring. The move could help payment systems respond faster to risks, detect suspicious patterns, and strengthen operational efficiency across India’s real-time payments infrastructure.
Originally posted by Business Standard
30 Banks Join UDGAM Portal to Help Trace Unclaimed Deposits
Thirty banks have joined the RBI’s UDGAM portal, helping families and legal heirs trace unclaimed deposits more easily. The platform is aimed at improving access to dormant funds and simplifying the process of locating money across banks.
Originally posted by The Hindu
Inflation Target May Be Reviewed if Growth and Prices Remain Stable
The RBI has indicated that the 4% inflation target could be reviewed if price stability and strong growth continue. The statement reflects a broader discussion on balancing inflation control with India’s evolving growth priorities.
Originally posted by New Indian Express
SEBI Proposes ₹20,000 Crore AUM Threshold for Significant Indices
SEBI has proposed classifying indices with over ₹20,000 crore in assets under management as significant indices. The move aims to improve oversight of widely tracked benchmarks and strengthen governance around index-linked investment products.
Originally posted by The Hindu
Banks May Face Seven-Year Cap on Assets Acquired From Bad Loans
The RBI has proposed a seven-year limit for banks to hold non-financial assets acquired while resolving bad loans. The move aims to ensure timely disposal of such assets and keep banks focused on core financial activities.
Originally posted by Mint
NPCI Fast-Tracks UPI Meta Rollout Amid Rising Competition Concerns
NPCI is accelerating the rollout of UPI Meta as competition in digital payments intensifies. The move comes amid Apple Pay’s expected entry and concerns around market concentration among major UPI apps.
Originally posted by Moneycontrol
SEBI Approves Two NSE Executive Director Appointments
SEBI has approved the appointment of Sanjay Shorey and Viral Mody as Executive Directors at NSE. The approvals strengthen leadership across key exchange functions as market infrastructure and compliance requirements continue to evolve.
Originally posted by Business Standard
SEBI Forms Task Force to Address AI-Driven Cyber Threats
SEBI has set up a task force to study and respond to AI-driven cyber risks in financial markets. The initiative aims to strengthen market resilience as emerging technologies create new security and fraud challenges.
Originally posted by Reuters
Forex Dealer Rules Tightened With New Caps and Eligibility Norms
New rules have tightened eligibility, compliance, and operational requirements for forex dealers. The changes aim to strengthen oversight in currency markets and ensure that authorised dealers meet higher governance and risk management standards.
Originally posted by Zee News
Expected Credit Loss Norms Seen as Manageable for Banks
Fitch has said the RBI’s expected credit loss norms are likely to have a limited impact on Indian banks. Strong capital positions and provisioning buffers are expected to help banks absorb the transition smoothly.
Originally posted by CNBC TV18
Paytm Payments Bank Loses Banking Licence
The banking licence of Paytm Payments Bank has been cancelled, with the bank prohibited from carrying out banking business. The regulator clarified that the bank has enough liquidity to repay its deposit liabilities as operations are wound down.
Originally posted by News on Air
Saksham Roadmap Introduced for Cooperative Bank Stability
The Saksham roadmap has been introduced to strengthen urban cooperative banks through capacity building, better governance, and improved compliance. The initiative aims to support stability, resilience, and long-term growth across the cooperative banking sector.
Originally posted by Times of India
Eight Entities Penalised for Front-Running Trades
SEBI has imposed penalties on eight entities in a front-running case and ordered disgorgement of unlawful gains. The action reflects continued focus on market integrity, fair trading practices, and stronger enforcement against misuse of non-public information.
Originally posted by The Economic Times
Digital Wallet Rules Proposed to Improve Refunds and Grievance Handling
New draft rules for digital wallets propose faster refunds, stronger security, and improved grievance redressal. The changes aim to make prepaid payment instruments safer and more user-friendly for both domestic users and NRIs.
Originally posted by Mint
UPI Processes 241 Billion Transactions Worth ₹340 Lakh Crore in FY26
UPI processed over 241 billion transactions worth more than ₹340 lakh crore in FY26. The milestone reflects the platform’s growing scale and its central role in India’s digital payments ecosystem.
Originally posted by The Hindu
Regulators Step Up Efforts to Return Unclaimed Financial Assets
RBI, IRDAI, and SEBI have intensified efforts to help citizens reclaim unclaimed deposits, insurance proceeds, and investments. These measures include simplified procedures, digital platforms, and awareness campaigns to make claim settlement easier.
Originally posted by DD News
Bad Loan Recognition Rules Tightened to Match Global Norms
Bad loan recognition rules have been tightened to bring Indian banking practices closer to global standards. The changes are aimed at improving transparency, enabling earlier recognition of stress, and strengthening risk management across banks.
Originally posted by The Hindu
That brings this edition of EnFin to a close. Fintech continues to move forward through steady changes across payments, regulation, and financial infrastructure. We will keep tracking these developments and bringing together the updates that matter.
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