{"id":12759,"date":"2025-04-02T15:20:19","date_gmt":"2025-04-02T09:50:19","guid":{"rendered":"https:\/\/www.enkash.com\/resources\/?p=12759"},"modified":"2025-04-02T15:44:00","modified_gmt":"2025-04-02T10:14:00","slug":"enfin-your-fresh-source-to-fintech-updates","status":"publish","type":"post","link":"https:\/\/www.enkash.com\/resources\/blog\/enfin-your-fresh-source-to-fintech-updates","title":{"rendered":"EnFin: Your Fresh Source To Fintech Updates"},"content":{"rendered":"<p>EnFin is your fresh source to know about the latest happenings in the fintech industry. If you are always on the move and want to grab a quick bite of the new developments across the industry, you can rely on it.<\/p>\n<p>Do not miss out on the latest developments, announcements, amendments, and changes that take place in the fintech industry.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NPCI-To-Phase-Out-Collect-Payments-Transactions-On-UPI\"><\/span><b>NPCI To Phase Out Collect Payments Transactions On UPI<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The National Payments Corporation of India (NPCI) has phased out the \u2018collect payments\u2019 feature on UPI to curb fraud. According to the new directive, the pull payments will be restricted to verified merchants only, whereas individual collection requests will be capped at Rs 2000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The aim behind this move is to reduce fraud and promote safer alternatives like QR code-based and direct push transactions. The organization\u2019s goal to enhance security across India\u2019s digital ecosystem is the reason behind this change.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"RBI-appoints-Indranil-Bhattacharyya-as-new-Executive-Director\"><\/span><b>RBI appoints Indranil Bhattacharyya as new Executive Director<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">RBI appoints Indranil Bhattacharyya as Executive Director, effective March 19, 2025. Previously an Adviser in the Monetary Policy Department, he will now oversee the Department of Economic and Policy Research.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bhattacharyya has served as an economic expert in the Technical Office of the Governor at Qatar Central Bank, Doha, from 2009-2014. With a postgraduate degree in Economics from Jawaharlal Nehru University, he has interests in monetary theory and policy, financial markets, market microstructure and fiscal policy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><em>Originally posted on Financial Express<\/em><\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%82%B974500-crore-disbursed-via-Account-Aggregator-in-H1-FY25\"><\/span><b>\u20b974,500 crore disbursed via Account Aggregator in H1 FY25<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Digital lenders, NBFCs, and banks disbursed Rs 74,500 crore via the Account Aggregator (AA) framework in H1 FY25, with the top eight lenders accounting for Rs 46,200 crore, according to industry alliance Sahamati.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The AA ecosystem is seeing penetration in the lending sector with an estimation of 10.52% of personal loans in the sector facilitated between April to September.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"SEBI-DigiLocker-to-reduce-unclaimed-financial-assets\"><\/span><b>SEBI, DigiLocker to reduce unclaimed financial assets<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Securities and Exchange Board of India (SEBI) partners with DigiLocker to manage unclaimed financial assets in the securities market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This aims to help investors access mutual fund statements, demat holdings, and CAS. Users can also auto-fetch CAS annually, alongside existing access to bank statements, insurance policies, and pension scheme details.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Know-the-new-proposed-UPI-tiered-pricing-and-its-impact\"><\/span><b>Know the new proposed UPI tiered pricing and its impact\u00a0\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Merchant Discount Rate (MDR) charges may be reinstated on UPI and RuPay debit card transactions for businesses with an annual turnover of above Rs 40 lakhs. This comes after payment aggregators raised the issue of sustaining digital payment infrastructure about increasing compliance costs under RBI\u2019s PA online rules.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesses with a turnover of less than Rs 40 lakhs will not have to pay any MDR for UPI transactions, enabling UPI as a low-cost digital payment option for them.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times BFSI<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"RBIs-New-PSL-Guidelines-Key-Changes\"><\/span><b>RBI\u2019s New PSL Guidelines: Key Changes<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Master Directions &#8211; RBI (Priority Sector Lending \u2013 Targets and Classification) Directions, 2025 take effect from April 1, 2025, replacing the 2020 circular. Key updates include district-based target adjustments, revised on-lending limits, higher caps for renewable energy and housing loans, inclusion of start-ups, COVID-19 relief provisions, and a new penalty structure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These updates aim to enhance credit access for key economic sectors while ensuring financial institutions fulfill their social responsibility goals. The new rules apply to commercial banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Local Area Banks (LABs), and Primary (Urban) Co-operative Banks (UCBs), excluding Salary Earners\u2019 Banks. RBI aims to create a more inclusive financial system that promotes sustainable economic growth by refining these PSL norms.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"PCI-Seeks-MDR-on-UPI-RuPay-for-Large-Merchants\"><\/span><b>PCI Seeks MDR on UPI, RuPay for Large Merchants<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Payments Council of India (PCI), with its 180 members, has urged the PMO to reintroduce a Merchant Discount Rate (MDR) for RuPay debit cards across all merchants and a reasonable 0.3% MDR for Unified Payments Interface (UPI) transactions, but only for large merchants.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is aligned with the existing MDR structures, which are 2% for credit cards and 0.9% for non-RuPay debit cards, as PCI stated. This will help in establishing sustainable digital payments.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Economic Times<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"NPCI-Launches-Bhim-30-with-New-Features\"><\/span><b>NPCI Launches Bhim 3.0 with New Features<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The National Payments Corporation of India (NPCI) has launched Bhim 3.0 with new features.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These features include split expenses for bill splitting, a task assistant for bill reminders, family mode for managing household expenses, and a spend analytics dashboard for expense tracking. The app also features Bhim Vega for seamless in-app payments. It aims to enhance customer retention and expand B2B payment solutions.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Mint<\/span><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"ATM-Withdrawals-Banking-Fees-to-Increase-from-May-1\"><\/span><b>ATM Withdrawals, Banking Fees to Increase from May 1<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Reserve Bank of India has announced an increase ATM cash withdrawal fee w.e.f from May 1, 2025. Banks can now charge a maximum of \u20b923 per transaction for cash withdrawals via ATM. This fee is applicable when the five free transaction limit at their bank ATM is over; three free transactions at other banks\u2019 ATMs in metropolitan cities and five in non-metropolitan cities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As soon as these limits are exceeded, customers will be charged \u20b923 per transaction for cash withdrawal. At present, the transaction fee is \u20b921 per transaction for cash withdrawals in case the limit is exceeded.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Originally posted on Mint<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EnFin is your fresh source to know about the latest happenings in the fintech industry. If [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":12760,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[639],"tags":[],"class_list":["post-12759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ilearn"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EnFin: Your Fresh Source To Fintech Updates<\/title>\n<meta name=\"description\" content=\"Get the latest fintech updates from this source and keep yourself abreast of the new happenings across the industry.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.enkash.com\/resources\/blog\/enfin-your-fresh-source-to-fintech-updates\" \/>\n<meta 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Enjoys thoughtful observations, sharing a point of view, and the occasional meme. Proud owner of an ever-growing collection of saved Instagram reels.","sameAs":["https:\/\/www.enkash.com\/"]}]}},"_links":{"self":[{"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/posts\/12759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/comments?post=12759"}],"version-history":[{"count":0,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/posts\/12759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/media\/12760"}],"wp:attachment":[{"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/media?parent=12759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/categories?post=12759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enkash.com\/resources\/wp-json\/wp\/v2\/tags?post=12759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}