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Assam inaugurates India first AI phygital Slice bank with paperless deposits and kiosk banking in Guwahati

Assam inaugurates India first AI phygital Slice bank with paperless deposits and kiosk banking in Guwahati

Assam Chief Minister Himanta Biswa Sarma inaugurated Slice Small Finance Bank’s India-first AI-powered “phygital” branch in Guwahati on GS Road. The next-generation banking setup blends physical trust with digital convenience using AI-enabled self-service kiosks, paperless cash deposits and withdrawals, and streamlined digital onboarding. The bank expects to expand access to responsible credit, savings and payments for individuals and small businesses, especially underserved communities, by pairing AI-driven convenience with trusted in-person support. Sarma said it reflects Assam’s readiness for technology-driven banking.

Summarised by Beize from a story on The Economic Times on 16 May 2026
Nearly half of Indian online orders still use COD, exposing a trust gap UPI hasn’t bridged yet

Nearly half of Indian online orders still use COD, exposing a trust gap UPI hasn’t bridged yet

Cash on delivery remains central to India’s e-commerce even as UPI records soar, with industry estimates putting COD at close to half of all online orders. The article argues the real driver isn’t payment convenience but trust: first-time buyers in Tier-2 and Tier-3 areas fear delivery delays, wrong items, or refund hassles, so COD lets them inspect before paying. Businesses are now using data-based risk models, partial prepay, and verification to limit losses while keeping access for cautious shoppers.

Summarised by Beize from a story on The Economic Times on 15 May 2026

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India plans Dhruva a username that could replace your physical address for deliveries and services

India plans Dhruva a username that could replace your physical address for deliveries and services

India is developing Dhruva, a username-based digital addressing system led by India Post. If approved by the finance ministry, it would let people receive parcels, food, and services without sharing physical addresses, boosting privacy. The platform is designed to standardize delivery addressing nationwide, drawing inspiration from Aadhaar and UPI for wide-scale adoption.

Summarised by Beize from a story on The Economic Times on 13 May 2026
India to deploy AI to stop money mule fraud and block suspicious bank accounts faster

India to deploy AI to stop money mule fraud and block suspicious bank accounts faster

India is set to use artificial intelligence to combat money mule banking and cyber fraud. Home Minister Amit Shah announced a partnership between the Indian Cyber Crime Coordination Centre and the Reserve Bank of India’s Innovation Hub, aimed at detecting and blocking suspicious accounts more quickly. The move is expected to strengthen consumer safety across UPI, online banking, and fintech platforms.

Summarised by Beize from a story on The Economic Times on 13 May 2026
MobiKwik Turns Profitable in Q4 as UPI Margins Rise and India Bans Uncertified CCTV Imports

MobiKwik Turns Profitable in Q4 as UPI Margins Rise and India Bans Uncertified CCTV Imports

MobiKwik delivered a profitable Q4, posting ₹4.4 crore profit despite revenue contraction. Better payments margins—driven by lower gateway costs and higher-margin merchant activity—helped offset the drag from surging zero-MDR UPI volume. The company is also reshaping its mix with ZIP EMI lending and expanding merchant QR and POS investments. Separately, India’s CCTV shake-up is pushing AI camera and chip startups to fill the China gap.

Summarised by Beize from a story on Inc42 on 13 May 2026
India digital gold leaders form new SRO to enforce 1 to 1 metal backing and audits

India digital gold leaders form new SRO to enforce 1 to 1 metal backing and audits

India’s major digital gold platforms have formed a new self-regulatory organisation, DPMACI, aiming to tighten transparency and consumer protection. The council plans strict operational guardrails, mandating digital holdings be backed by physical metal in a 1:1 ratio, with periodic third-party audits. It also says it is building an ombudsman framework to resolve complaints within fixed timelines—amid ongoing regulatory scrutiny.

Summarised by Beize from a story on Inc42 on 11 May 2026

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EPFO 3.0 Readies UPI and ATM PF Withdrawals by Late May 2026 With Instant Credit Limits

EPFO 3.0 Readies UPI and ATM PF Withdrawals by Late May 2026 With Instant Credit Limits

EPFO 3.0 is expected to let subscribers withdraw PF advances via UPI and ATMs by end of May 2026, cutting settlement delays from weeks to seconds. The upgrade is pitched as “instant” credit, but withdrawals through these digital channels will be capped at 50% and a 25% balance retention rule will still apply. EPFO says 95% of claims are already automated.

Summarised by Beize from a story on Republic on 8 May 2026
NPCI raises UPI income tax cap to ₹5 lakh per day

NPCI raises UPI income tax cap to ₹5 lakh per day

During peak tax season, NPCI has expanded the UPI payment limit for verified categories, including income tax, allowing transactions up to ₹5 lakh per day. While most users still face the standard ₹1 lakh daily UPI cap, the higher threshold aims to simplify digital tax compliance and reduce dependence on net banking for larger payments.

Summarised by Beize from a story on Republic on 8 May 2026
India urged to turn digital verification into trust based economy using Aadhaar and UPI

India urged to turn digital verification into trust based economy using Aadhaar and UPI

India’s economy is stuck in low trust and high friction, with complex KYC rules called out by Finance Minister Nirmala Sitharaman. The push now is to move to a trust based model that rewards responsible behavior. By using digital rails like Aadhaar and UPI, the country can cut verification costs, boost transparency, and build a clearer rules based system.

Summarised by Beize from a story on The Economic Times on 7 May 2026
Modi announces Vietnam deal on rare earths critical minerals and UPI payments

Modi announces Vietnam deal on rare earths critical minerals and UPI payments

Prime Minister Narendra Modi announced a major upgrade in India and Vietnam ties, spanning critical minerals, rare earths, and energy security. Thirteen MoUs were signed across areas like digital technologies, pharmaceuticals, and tourism, while an agreement aims to connect India’s UPI with Vietnam’s payment network. The move is framed as boosting economic and defence cooperation for regional stability.

Summarised by Beize from a story on The Economic Times on 6 May 2026

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UPI rivals want curbs on PhonePe Google Pay Paytm as NPCI delays key market cap

UPI rivals want curbs on PhonePe Google Pay Paytm as NPCI delays key market cap

Smaller third-party UPI players plan to lobby NPCI for new limits on market leaders like PhonePe, Google Pay and Paytm. Their proposals include curbing aggressive user acquisition, tightening monetization and opening merchant services, arguing the long-delayed 30% market share cap hasn’t been implemented. The push could reshape how apps compete for UPI users and merchants.

Summarised by Beize from a story on The Economic Times on 4 May 2026
India’s consumption holds steady despite West Asia war jitters proves demand is resilient

India’s consumption holds steady despite West Asia war jitters proves demand is resilient

India kicked off the new fiscal year with a broad-based consumption lift despite West Asia war tremors. April GST collections hit a record, passenger car sales rose sharply, and UPI-driven digital transactions expanded strongly. Together, these indicators point to resilient consumer and spending momentum, suggesting limited immediate fallout from the conflict—at least for now.

Summarised by Beize from a story on The Economic Times on 2 May 2026
UPI smashes new record with 24162 crore transactions worth Rs 314 lakh crore in FY26

UPI smashes new record with 24162 crore transactions worth Rs 314 lakh crore in FY26

UPI logged a landmark performance in FY26, clocking over 24,162 crore transactions worth Rs 314 lakh crore. The steep rise underlines how digital payments have moved beyond big cities into everyday use across regions. With UPI becoming a default choice for millions, India’s cashless ecosystem is expanding steadily and reshaping daily spending habits.

Summarised by Beize from a story on The Economic Times on 1 May 2026
UPI transactions slip 1.3% in April yet surge 25% year on year to 22.35 billion

UPI transactions slip 1.3% in April yet surge 25% year on year to 22.35 billion

UPI transactions dipped 1.3% month-on-month to 22.35 billion in April, down from 22.64 billion in March, according to NPCI data. The transaction value also eased to ₹29.03 lakh crore from ₹29.53 lakh crore. Yet on a year-on-year basis, transactions climbed 25% and value rose 21%. Average daily count and value both increased MoM as NPCI held talks with smaller ecosystem players.

Summarised by Beize from a story on Inc42 on 1 May 2026

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UPI Turns 10 With 66 Crore Daily Transactions as IMF Names It Global Leader

UPI Turns 10 With 66 Crore Daily Transactions as IMF Names It Global Leader

UPI marks its 10th year since launch in April 2016, growing from 2 crore to 24,162 crore transactions and handling a massive share of real-time payments worldwide. Finance Ministry data says 703 banks are now live and UPI processes around 66 crore transactions daily. The IMF has also described UPI as the world’s largest real-time payment system.

Summarised by Beize from a story on Republic on 1 May 2026
PayU bets on AI agentic commerce as UPI surges transform payments

PayU bets on AI agentic commerce as UPI surges transform payments

PayU is accelerating an AI-led payments strategy to support agentic commerce as UPI usage and digital transactions continue to climb. The company says it’s investing in automation alongside trust and compliance layers, enabling faster, high-frequency payments. AI use cases are expanding across merchant onboarding, risk management, and customer support as it scales operations.

Summarised by Beize from a story on The Economic Times on 30 Apr 2026
Novio raises Rs 100 crore Series A to expand UPI linked credit cards and AI credit advisory

Novio raises Rs 100 crore Series A to expand UPI linked credit cards and AI credit advisory

Fintech startup Novio has raised Rs 100 crore in a Series A led by Cornerstone Ventures, with support from several investors including Shepherd’s Hill Private Equity and Innoven Capital. The funding will expand its distribution into Tier II cities, accelerate product development, and build AI credit advisory features on its UPI-linked credit card platform. Novio claims it has crossed one lakh active cardholders.

Summarised by Beize from a story on YourStory on 30 Apr 2026
Amazon and Meta team up to challenge Google Pay and PhonePe UPI dominance in India

Amazon and Meta team up to challenge Google Pay and PhonePe UPI dominance in India

Amazon and Meta are joining rivals in a regulatory push to curb the dominance of Google Pay and PhonePe in India’s UPI instant payments market. Together they account for about 80% of transaction volume, and competing players are planning meetings with regulators to lobby for restrictions that could reshape how the payment system operates.

Summarised by Beize from a story on TechCrunch on 30 Apr 2026

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UPI challengers push NPCI for fair play as WhatsApp toughens scam defenses

UPI challengers push NPCI for fair play as WhatsApp toughens scam defenses

Smaller UPI players are set to meet NPCI, arguing that the rapid rise of leaders like PhonePe, Google Pay and Paytm needs a fairer framework. In the same tech update, WhatsApp reportedly tightens defenses against scams—raising pressure on platforms and payments ecosystems to improve safeguards while competition heats up.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
India Kenya explore trade settlement in local currencies and UPI payments to boost bilateral commerce

India Kenya explore trade settlement in local currencies and UPI payments to boost bilateral commerce

India and Kenya are exploring a shift toward settling bilateral trade in their own local currencies, cutting reliance on third currencies. The talks in Nairobi also covered digital payment rails such as UPI. During a joint trade committee meeting, both sides signed an agreement to exchange customs information and outlined steps to further grow fast rising bilateral trade.

Summarised by Beize from a story on The Economic Times on 29 Apr 2026
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