This edition of EnFin covers another active phase for India’s financial ecosystem. Digital payments continued to scale, public digital systems became stronger, and financial institutions explored new ways to expand services. Through EnFin, we bring these developments together so you can stay updated on what is shaping fintech, banking and digital finance.
UPI Completes 10 Years With Nearly 13,000-fold Rise in Transaction Volume
UPI completed 10 years with nearly a 13,000-fold rise in annual transaction volume, growing from 1.78 crore transactions in FY17 to over 24,162 crore in FY26. July 2026 also recorded its highest-ever monthly volume yet, at 2,366 crore transactions nationwide.
Originally posted by The Hindu
SEBI Launches Cyber Suraksha Portal to Build Cybersecurity Awareness in Markets
SEBI has launched the Cyber Suraksha Portal to strengthen cybersecurity awareness among market participants. The portal brings cyber hygiene content, advisories and learning material together, helping intermediaries, investors and institutions understand digital risks better as market activity becomes more technology-led.
Originally posted by Moneylife
Maharashtra Launches NIC-developed Maha e-HRMS for Digital Government HR Management
Maharashtra has launched Maha e-HRMS, a NIC-developed platform to digitise government HR management. The system is expected to manage employee records, service details and administrative workflows, helping departments reduce paperwork and create a more unified digital view of government staff data.
Originally posted by ET HRWorld
Smaller Public Sector Banks May Partner With Larger Peers to Grow Credit Card Business
Smaller public sector banks may partner with larger peers to expand their credit card business. These partnerships could help smaller PSBs use stronger technology, distribution and product capabilities, while targeting corporate customers, MSMEs, HNIs and new-to-bank customers across India too.
Originally posted by Business Standard
BPCL Plans E-commerce and Payment Gateway Push Beyond Fuel Business
BPCL is exploring e-commerce and a payment gateway as part of its non-fuel business push. The company plans to use its LPG and retail network to deliver groceries and daily-use products, positioning itself closer to quick-commerce and digital payments players.
Originally posted by The Economic Times
WhatsApp Pay Climbs UPI Charts With 167 Million Transactions
WhatsApp Pay processed 167.89 million UPI transactions worth ₹12,957.07 crore in July 2026, moving ahead of CRED and Amazon Pay. The jump came after NPCI removed onboarding limits, showing how payments inside daily-use apps can grow faster when access barriers reduce.
Originally posted by Business Today
Indians Living in Qatar Can Now Send Money Home Through UPI
Indians in Qatar can now send money to UPI-enabled bank accounts in India through PosTransfer. The service works at participating Qatar Post outlets, where users can transfer funds using the recipient’s UPI ID, with a cap of QAR 4,000 or ₹1 lakh.
Originally posted by ET TravelWorld
RBI Seeks NBFC Feedback on Revolving Credit Rules and Risk Controls
RBI has sought feedback from NBFCs on proposed rules for revolving credit facilities. The central bank also stressed stronger compliance, internal audits and risk controls as digital lending grows and repayment structures become more complex for regulated financial entities overall.
Originally posted by ETLegalWorld
Cash Makes a Comeback as MDR Debate Puts Digital Payment Costs Back in Focus
Cash usage is back in focus as the MDR debate around digital payments continues. Currency with the public reportedly rose to ₹41.8 lakh crore, raising questions on whether future payment costs could influence how consumers choose between cash and digital modes.
Originally posted by Livemint
RBI Says Cash Demand Is Harder to Predict as Digital Payments Grow
RBI said cash demand is becoming harder to predict as digital payments grow, but currency in circulation continues to rise. Cash remains widely used across rural, semi-urban and small business segments, making demand patterns less straightforward for policymakers and currency managers.
Originally posted by The Economic Times
Companies Rework Employee Perks to Balance Cost and Productivity
Companies are reviewing employee benefits as they balance costs with productivity. Accenture, SAP and HSBC have reportedly tightened policies around leave, internal travel and cab access, showing a more selective approach to workplace spending instead of broad cost-cutting across teams.
Originally posted by The Times of India
RBI to Introduce Polymer Notes That May Raise ATM Cassette Costs for Banks
RBI’s polymer note plan may require banks to replace or recalibrate ATM cassettes to handle the new material. The move aims to improve note durability, but banks may face upfront operational costs across cash loading, servicing and denomination management soon.
Originally posted by Livemint
UPI Will Remain Free for Consumers, Says Nirmala Sitharaman
Finance Minister Nirmala Sitharaman told the Rajya Sabha that UPI will remain free for consumers. The government said any future MDR question will be handled by the NPCI-led UPI and Services Steering Committee, not as a direct charge on users.
Originally posted by The Hindu
BRICS Nations Discuss Linking Payment Systems and Central Bank Digital Currencies
RBI Governor Sanjay Malhotra said BRICS nations are discussing ways to link payment systems and central bank digital currencies. The goal is to make cross-border payments faster, while supporting India’s wider digital rupee plans beyond domestic pilots and remittance corridors.
Originally posted by Reuters
UPI has become the world’s largest real-time payments platform by transaction volume. It now processes billions of transactions every month and has become central to everyday payments in India, strengthening the country’s push to take UPI to more global corridors.
Originally posted by News On AIR
Apple Pay May Launch in India in October, but UPI Support Could Be Delayed
Apple Pay may launch in India around October, according to reports, but UPI support could take longer. The service may initially work through tokenised Visa and Mastercard debit and credit cards on iPhones and Apple Watches, if the reported timeline holds.
Originally posted by The Economic Times
RBI Issues New Rules for Floating-rate Loan Interest Reset
RBI has proposed a new framework for floating-rate loans, expected from April 1, 2027 if finalised. Reset periods should generally not exceed three months, and the benchmark chosen for a loan should remain unchanged during the loan tenure for borrowers.
Originally posted by The Indian Express
Kerala HC Says No Motor Vehicle Tax on Proven Unroadworthy Vehicles
The Kerala High Court said motor vehicle tax cannot be collected on vehicles proven to be unroadworthy after an accident. The ruling gives relief to owners in genuine damage cases, even if they failed to inform authorities on time initially.
Originally posted by LiveLaw
RBI Governor Sanjay Malhotra said AI could transform lending the way UPI changed payments. He urged banks to adopt the technology responsibly, using India’s digital public infrastructure and regulated data systems for faster, more data-led credit decisions across lending overall.
Originally posted by Moneycontrol
NPCI-led Panel Yet to Decide on MDR Charges, Says Finance Minister
Finance Minister Nirmala Sitharaman said the NPCI-led UPI and Services Steering Committee has not decided on MDR charges yet. The government clarified that consumers and small merchants will not pay UPI charges, even if select categories are reviewed later by policy.
Originally posted by Deccan Herald
Finance Ministry Bill May Allow MDR on Select UPI and Digital Payments
The Finance Ministry introduced a bill to amend the Payment and Settlement Systems Act, 2007, which could allow MDR on select digital payment modes, including UPI. It does not introduce charges immediately, but gives the government future policy flexibility going ahead.
Originally posted by Moneycontrol
Telangana HC Says Capital Gains Tax Relief Can’t Be Denied Beyond Taxpayer’s Control
The Telangana High Court said capital gains tax relief cannot be denied if property construction or registration delays happen for reasons beyond the taxpayer’s control. The ruling offers relief in genuine Section 54F cases where investment intent is clear enough.
Originally posted by The Hindu
India to Get First Plastic Currency Notes Next Financial Year
India’s first plastic or polymer currency notes are expected next financial year. RBI Governor Sanjay Malhotra said the pilot will begin with ₹10 and ₹20 notes, which could improve durability and reduce counterfeiting risks in high-use denominations soon for India.
Originally posted by The Times of India
Bankers’ Books Evidence Bill Raises Questions Around Bank Record Access
The Bankers’ Books Evidence Bill, 2026 updates rules for physical, electronic, digital, virtual and cloud-based bank records. Moneylife raised concerns over investigative access to bank records without prior court oversight, though it noted the clause is not entirely new under law.
Originally posted by Moneylife
RBI Keeps Repo Rate Unchanged at 5.25%, Raises Growth Forecast
RBI kept the repo rate unchanged at 5.25% and retained a neutral stance. The central bank raised its FY27 real GDP growth forecast to 6.7% and lowered inflation projection to 5%, keeping borrower EMIs broadly stable for now for borrowers.
Originally posted by The Times of India
India Extends Manufacturing Tax Breaks Till 2041, Supporting Apple’s Local Production Push
India has proposed extending certain manufacturing tax exemptions for foreign companies till March 31, 2041. The move could support Apple and other electronics players using India-based contract manufacturers, giving them more tax certainty for long-term production plans in India over time.
Originally posted by Outlook Business
ESIC May Raise Wage Ceiling to ₹30,000 for Insurance Benefits
ESIC may raise the wage ceiling for insurance benefits from ₹21,000 to ₹30,000 per month. If approved, more workers could qualify for medical care, sickness benefit and maternity support under the Employees’ State Insurance framework in India and wider coverage.
Originally posted by The Hindu
That brings this edition of EnFin to a close. We’ll keep tracking the key fintech developments and bringing you the updates that matter.
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