Earlier this year, the Reserve Bank of India imposed restrictions on Paytm Payments Bank Limited (PPBL), preventing it from adding new UPI users

Imported inflation, caused by a decline in the value of a country's currency, typically increases when the value of the Indian rupee falls against the US dollar

The Nifty fell below 25,000; largecap stocks faced profit booking at higher levels, but mid-and small-cap stocks continued to gain ground.

Thirteen NBFCs surrendered their certificate of registration (CoR) issued by the RBI and were hence cancelled.

The World Bank is confident that India's medium-term economic growth rate will remain strong at an average of 6.7% over the next two fiscal years.

Talks are ongoing with several countries to extend UPI's reach through QR codes and fast payment system linkages.

The bank plans to sell ₹10,000 crore of loan portfolios using a rare debt instrument.

The company has received Finance Ministry’s approval for downstream investment from its parent, making it eligible to seek a payments aggregator licence again.

The debt repayment and the return of the registration certificate to RBI are to avoid the mandatory listing of the company's shares on the stock exchange.

"Just like the Unified Payments Interface (UPI) changed the payments ecosystem, we expect ULI to transform the lending landscape," says the RBI Governor.