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Unified Payments Interface
Unified Payments Interface, commonly known as UPI is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts using only a unique UPI ID. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Major Indian banks started making their UPI-enabled apps available to customers in August 2016 and the system is today supported by almost all Indian banks. As of 2025, the platform had over 500 million active users in India. In May 2025, 18.67 billion UPI transactions worth ₹ 25.14 trillion (approx. 293 billion USD) were processed by the UPI system, equivalent to almost 7,000 transactions on average every second. The widespre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment System
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible.Biago Bossone and Massimo Cirasino, "The Oversight of the Payment Systems: A Framework for the Development and Governance of Payment Systems in Emerging Economies"The World Bank, July 2001, p.7 A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions. This consists of a major service provided by banks and other financial institutions. Traditional payment systems include negotiable instruments such as drafts (e.g., cheques) and documentary credi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FedNow
FedNow is an instant payment service developed by the Federal Reserve for financial institutions in the United States, which allows individuals and businesses to send and receive money. The service launched on July 20, 2023. Financial institutions are able to build products on top of the FedNow platform. By 2025, over a thousand financial institutions were live on the service. Operation The FedNow Service began formal certification of participants in April 2023 and formally launched in July 2023. It operates on a 24-hour, 365-days-a-year basis, as opposed to the older FedACH system that is closed on weekends and holidays. FedNow charges financial institutions a transaction cost of $0.043 per transaction. The FedNow Service is one of many instant payment services that have been developed around the world to offer immediate or close-to-immediate interbank transfers of money. The Federal Reserve maintains a list of all financial institutions and fintech vendors that are certifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bengali Language
Bengali, also known by its endonym and exonym, endonym Bangla (, , ), is an Indo-Aryan languages, Indo-Aryan language belonging to the Indo-Iranian languages, Indo-Iranian branch of the Indo-European languages, Indo-European language family. It is native to the Bengal region (Bangladesh, India's West Bengal and Tripura) of South Asia. With over 242 million native speakers and another 43 million as second language speakers as of 2025, Bengali is the List of languages by number of native speakers, sixth most spoken native language and the List of languages by total number of speakers, seventh most spoken language by the total number of speakers in the world. Bengali is the Official language, official, National language, national, and most widely spoken language of Bangladesh, with 98% of Bangladeshis using Bengali as their first language. It is the second-most widely spoken scheduled languages of India, language in India. It is the official language of the Indian states of West ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kannada
Kannada () is a Dravidian language spoken predominantly in the state of Karnataka in southwestern India, and spoken by a minority of the population in all neighbouring states. It has 44 million native speakers, and is additionally a second or third language for 15 million speakers in Karnataka. It is the official and administrative language of Karnataka. It also has scheduled status in India and has been included among the country's designated classical languages.Kuiper (2011), p. 74R Zydenbos in Cushman S, Cavanagh C, Ramazani J, Rouzer P, ''The Princeton Encyclopedia of Poetry and Poetics: Fourth Edition'', p. 767, Princeton University Press, 2012, Kannada was the court language of a number of dynasties and empires of South India, Central India and the Deccan Plateau, namely the Kadamba dynasty, Western Ganga dynasty, Nolamba dynasty, Chalukya dynasty, Rashtrakutas, Western Chalukya Empire, Seuna dynasty, kingdom of Mysore, Nayakas of Keladi, Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malayalam
Malayalam (; , ) is a Dravidian languages, Dravidian language spoken in the Indian state of Kerala and the union territories of Lakshadweep and Puducherry (union territory), Puducherry (Mahé district) by the Malayali people. It is one of 22 Languages with official status in India, scheduled languages of India. Malayalam was designated a "Classical Languages of India, Classical Language of India" in 2013. Malayalam has official language status in Kerala, Lakshadweep and Puducherry (Mahé, Puducherry, Mahé), and is also the primary spoken language of Lakshadweep. Malayalam is spoken by 35.6 million people in India. Malayalam is also spoken by linguistic minorities in the neighbouring states; with a significant number of speakers in the Kodagu and Dakshina Kannada districts of Karnataka, and Kanyakumari district, Kanyakumari, Coimbatore district, Coimbatore and Nilgiris district, Nilgiris district of Tamil Nadu. It is also spoken by the Malayali diaspora, Malayali Diaspora wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tamil Language
Tamil (, , , also written as ''Tamizhil'' according to linguistic pronunciation) is a Dravidian language natively spoken by the Tamil people of South Asia. It is one of the longest-surviving classical languages in the world,. "Tamil is one of the two longest-surviving classical languages in India" (p. 7). attested since 300 BC, 300 BCE.: "...the most acceptable periodisation which has so far been suggested for the development of Tamil writing seems to me to be that of A Chidambaranatha Chettiar (1907–1967): 1. Sangam Literature – 200BC to AD 200; 2. Post Sangam literature – AD 200 – AD 600; 3. Early Medieval literature – AD 600 to AD 1200; 4. Later Medieval literature – AD 1200 to AD 1800; 5. Pre-Modern literature – AD 1800 to 1900" at p. 610 Tamil was the lingua franca for early maritime traders in South India, with Tamil inscriptions found outside of the Indian subcontinent, such as Indonesia, Thailand, and Egypt. The language has a well-documented history wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telugu Language
Telugu (; , ) is a Dravidian languages, Dravidian language native to the Indian states of Andhra Pradesh and Telangana, where it is also the official language. Spoken by about 96 million people (2022), Telugu is the most widely spoken member of the Dravidian language family, and one of the twenty-two Languages with legal status in India, scheduled languages of the Republic of India. It is one of the few languages that has primary official status in more than one States and union territories of India, Indian state, alongside Hindi and Bengali language, Bengali. Telugu is one of the languages designated as a Classical Languages of India, classical language by the Government of India. It is the 14th most spoken native language in the world.Statistics in Modern Standard Telugu is based on the dialect of erstwhile Krishna, Guntur, East Godavari and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hindi
Modern Standard Hindi (, ), commonly referred to as Hindi, is the Standard language, standardised variety of the Hindustani language written in the Devanagari script. It is an official language of India, official language of the Government of India, alongside English language, English, and is the ''lingua franca'' of North India. Hindi is considered a Sanskritisation (linguistics), Sanskritised Register (sociolinguistics), register of Hindustani. Hindustani itself developed from Old Hindi and was spoken in Delhi and neighbouring areas. It incorporated a significant number of Persian language, Persian loanwords. Hindi is an Languages with official status in India, official language in twelve states (Bihar, Gujarat , Mizoram , Maharashtra ,Chhattisgarh, Haryana, Himachal Pradesh, Jharkhand, Madhya Pradesh, Rajasthan, Uttar Pradesh, Uttarakhand), and six Union territory, union territories (Andaman and Nicobar Islands, Delhi, Chandigarh, Dadra and Nagar Haveli and Daman and Di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Discount Rate
A merchant account is a type of bank account that allows a seller, known as the merchant, to accept payments by debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, payment service provider, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement and can act as middle man between the merchant and the bank. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. A high-risk merchant account is a business account or merchant account that allows the business to accept online payments though they are considered to be of high-risk nature by the banks and credit card processors. They will typically pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (India)
The Ministry of Finance (IAST: ''Vitta Maṃtrālaya'') is a ministry within the Government of the Republic of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, currency regulation, banking service, centre and state finances, and the Union Budget. The Ministry of Finance is the apex controlling authority of ''four'' central civil services namely Indian Revenue Service, Indian Audit and Accounts Service, Indian Economic Service and Indian Civil Accounts Service. It is also the apex controlling authority of one of the central commerce services namely Indian Cost and Management Accounts Service. History Sir Ramasamy Chetty Kandasamy Shanmukham Chetty KCIE (17 October 1892 – 5 May 1953) was the first Finance Minister of independent India. He presented the first budget of independent India on 26 November 1947. Department of Econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
