Enforcement Directorate has shut its FEMA probe into Myntra after RBI's April 20 compounding order. The Flipkart-owned fashion e-tailer paid Rs 2.88 lakh to settle Rs 45.88 crore in alleged FDI contraventions, drawn from a wider Rs 1,654 crore investigation into multi-brand retail FDI routing.

ET Small Business · 6/4/2026, 7:56:03 PM

The central bank shut its FEMA probe into fashion e-tailer Myntra after the Enforcement Directorate cleared compounding. Myntra paid a one-time ₹2.88 lakh fee to settle alleged contraventions tied to transactions worth ₹46 crore, drawing a line under a long-running regulatory overhang for the Walmart-backed platform.

Business Standard · Companies · 6/4/2026, 5:03:09 PM

RBI has compounded Myntra's FEMA violations tied to delayed APR filings worth Rs 42.85 crore and pending ODI commitments of Rs 3.03 crore on payment of a Rs 2.88 lakh one-time fee. The Enforcement Directorate has consequently closed its probe against the Flipkart-owned fashion etailer, removing a key regulatory overhang.

NDTV Profit · 6/4/2026, 3:14:55 PM

Enforcement Directorate has dropped its foreign exchange probe against Flipkart-owned Myntra after the fashion retailer paid ₹2.88 lakh to compound two FEMA violations covering roughly ₹46 crore in transactions, following RBI's April 20 compounding order.

The Hindu BusinessLine · 6/4/2026, 3:04:28 PM

Myntra closes a regulatory overhang as RBI accepts a one-time Rs 2.88 lakh compounding fee for delayed Annual Performance Reports and Rs 3.03 crore ODI commitment lapses. The Enforcement Directorate has wound up its July 2025 investigation into FDI contraventions exceeding Rs 1,654 crore.

ET Small Business · 6/4/2026, 12:22:59 PM

Government mandates DGFT authorisation for silver imports routed via banks, RBI-nominated agencies and IIBX qualified jewellers. Move follows 15% duty hike after April imports surged 157% YoY to $411M. Tanishq, Kalyan and other jewellery retailers face tighter sourcing as FY26 imports near $12B.

NDTV Profit · 6/2/2026, 5:15:28 PM

NPCI International and ACLEDA Bank have switched on UPI acceptance across Cambodia's 4.5 million KHQR merchant outlets, letting Indian travellers pay via UPI apps. Reciprocal access for Cambodian visitors at Indian UPI merchants is slated next, extending India's payments rails deeper into Southeast Asian retail.

Mint · Money · 6/2/2026, 3:39:58 PM

Import authorisation now required for silver grains, powder and other 99.9% purity forms, with dore imports restricted to refineries under actual-user licence. Move aims to curb trade deficit but squeezes jewellers and refiners reliant on open-route bullion inflows.

The Hindu BusinessLine · 6/2/2026, 3:36:23 PM

DGFT now mandates import authorisation for silver grains, powder and other 99.9% purity forms, closing a loophole used to bypass duties. Move pressures jewellery chains like Tanishq, Kalyan and Malabar that rely on imported silver inputs amid surging bullion shipments.

BL · Consumer & Economy · 6/2/2026, 3:35:58 PM

MobiKwik wants shareholders to greenlight rerouting ₹60.85 Cr to lending sub MDSPL and ₹33.65 Cr to its payments business, while extending ₹25.26 Cr deployment to FY27. Move follows RBI's in-principle PA-P nod for Zaakpay and signals a pivot deeper into regulated payments infrastructure.

Inc42 · 6/2/2026, 3:30:59 PM

RBI's proposed PPI rules cap P2P transfers at ₹25,000/month, cash loading at ₹10,000, and wallet balances at ₹2 lakh, pressuring fintechs that processed 695M transactions worth ₹22,448 crore. Industry, led by Paytm and Mobikwik with 110M active users, is lobbying for phased rollout.

The Hindu BusinessLine · 6/1/2026, 3:41:13 PM

Draft PPI framework caps wallet P2P transfers at ₹25,000/month, cash loading at ₹10,000, and balances at ₹2 lakh — squeezing fintechs that processed 695M transactions worth ₹22,448 crore. Paytm (110M users) and Mobikwik most exposed; industry pushing for phased rollout.

The Hindu BusinessLine · 6/1/2026, 2:53:04 PM

RBI data shows UPI processed Rs 29.90 lakh crore across 23.2 billion transactions in May 2026, cementing dominance over cash at retail checkouts. FY26 logged 24.16 billion transactions worth Rs 314.2 lakh crore, with merchant adoption at 67% across 710 districts and rollout extending to eight countries.

Financial Express · BrandWagon · 6/1/2026, 1:01:13 PM

23.2 billion transactions clocked in May, up 24% YoY in volume and 19% in value. Average ticket size slipped to ₹1,313, signaling deeper merchant penetration into everyday retail. Credit-on-UPI and cross-border acceptance across 7 countries emerge as next growth pools.

Mint · Money · 6/1/2026, 11:22:35 AM

Summer travel, IPL and seasonal consumer spending pushed UPI to its biggest month ever, eclipsing Rs 25.14 lakh crore in May 2024. Falling ticket sizes (Rs 1,313 vs Rs 1,848 in 2021) signal deeper everyday-spend penetration, while credit-on-UPI and cross-border rails open new retail growth pools.

Times of India · Business · 6/1/2026, 11:22:05 AM

India's UPI rails clocked 23.2 billion transactions worth Rs 29.9 lakh crore in May, up 24% in volume and 19% in value YoY. Falling average ticket size (Rs 1,313 vs Rs 1,848 in 2021) signals deeper everyday-retail penetration, with credit-on-UPI and cross-border rollout across eight countries as next levers.

ET Small Business · 6/1/2026, 7:32:33 AM

UPI clocked a record ₹29.9 lakh crore across 23.2 billion transactions in May, up 19% in value and 24% in volume YoY, lifted by summer travel and IPL spending. Average ticket size has fallen to ₹1,313 from ₹1,848 in 2021, as Credit-on-UPI and cross-border rails emerge as the next growth levers for Indian retail.

The Hindu BusinessLine · 6/1/2026, 7:21:23 AM

RBI and Monetary Authority of Singapore are connecting UPI with Singapore's PayNow to enable instant, low-cost cross-border fund transfers. Users can transact reciprocally without onboarding to the other system, with operationalisation targeted for July 2022.

Moneycontrol · News Web · 5/31/2026, 3:06:29 AM

A below-normal monsoon could lift retail inflation beyond the RBI's 5% comfort zone, hitting pulses and soyabean output across Madhya Pradesh and Maharashtra. Higher food costs risk denting rural demand, pressuring grocery and FMCG margins, and narrowing the central bank's room for rate cuts.

Moneycontrol · News Web · 5/29/2026, 9:24:33 PM

Reserve Bank Innovation Hub is building DPIP, an AI system that will assign real-time risk scores to every digital transaction across Indian banks and payment providers to detect fraud. Build timeline pegged at six months, with senior leadership hires underway.

Moneycontrol · Results · 5/29/2026, 9:24:07 PM

Reserve Bank Innovation Hub is anchoring DPIP, an AI platform to enable real-time fraud intelligence sharing across banks and payment participants. Bengaluru-based hub is recruiting senior product, engineering and data science leaders to lead the build-out — a signal that India's payments rails are getting a centralised fraud brain.

Moneycontrol · Results · 5/29/2026, 9:24:04 PM

RBI plans to scale its e-Rupee pilot — already at 8M users and 120M transactions worth ₹28,000 crore — into bilateral cross-border corridors with UAE and Singapore, programmable DBT for PDS subsidies, and domestic retail merchant payments through FY26.

Mint · Industry · 5/29/2026, 2:19:33 PM

RBI's FY26 report flags a paradox: retail digital payments surged 26.9% by volume and UPI grew 30%, but currency in circulation still rose 11.4%. Welfare transfers, GST and tax cuts fuelling spending, and a gold/silver rally — nearly half of core inflation in H2 — are keeping cash in play alongside digital rails.

NDTV Profit · 5/29/2026, 7:57:15 AM

Payments Council of India is drafting a safe harbour framework to protect licensed fintechs and PSOs from retrospective regulatory or tax action. The move follows the arrest of Fino Payments Bank's CEO over alleged GST evasion by merchant intermediaries, raising compliance anxiety across the sector.

Business Standard · Companies · 5/27/2026, 1:57:28 PM

RBI's in-principle Payment Aggregator-Physical licence lets MobiKwik chase offline merchants, stacking on April's NBFC win. Q4FY26 swung to Rs 4.4 cr profit from Rs 56 cr loss; revenue Rs 288.7 cr, up 7.8% YoY, even as FIRs cloud the Xtra P2P product.

YourStory · 5/26/2026, 4:38:27 PM

Approval clears MobiKwik to onboard physical merchants directly via Zaakpay, targeting kirana, fuel and organised retail. Fintech aims for 10x merchant business growth by FY28, scaling soundboxes and EDC deployments across its 4.92 million merchant base.

Business Standard · Companies · 5/26/2026, 1:55:28 PM

Payment companies have flagged concerns over RBI's draft PPI norms, opposing the Rs 25,000/month P2P cap and Rs 10,000 cash-load limit. Industry warns stricter rules without bank parity could drive customer exodus and force smaller wallet issuers to shut shop.

NDTV Profit · 5/26/2026, 10:50:17 AM

RBI's in-principle PA-Physical approval clears MobiKwik to onboard offline merchants directly, complementing Zaakpay's online PA licence and a recent NBFC nod. CEO Bipin Preet Singh is targeting a 10x merchant business by FY28. Shares rose 3.7% to ₹198.40 on the news.

Inc42 · Buzz · 5/26/2026, 10:23:40 AM

Post-merger with North East Small Finance Bank, Slice booked Rs 1,403 cr revenue in FY26 versus Rs 604 cr a year earlier, flipping a Rs 217 cr loss into Rs 48.4 cr profit. Q4 alone delivered Rs 399.7 cr income and Rs 20.4 cr profit, with CRAR at 19.1% and debt-equity at 0.14.

Entrackr · 5/26/2026, 8:24:54 AM

MobiKwik shares surged nearly 8% to Rs 205.60 after RBI granted in-principle approval for its Physical Payment Aggregator license. The clearance lets MobiKwik scale offline merchant payments across kirana, fuel outlets and organised retail, targeting 10x growth on its 4.9 million merchant base by FY28.

Business Today · Latest · 5/26/2026, 7:53:09 AM