Digital transactions have increased rapidly in the last few years in the country. Unified Payments Interface (UPI) Transactions made a record high of 19.47 billion in July. In terms of value, these transactions have been Rs 25.08 lakh crore last month. This is the second high after Rs 25.14 lakh crore in May.

The National Payments Corporation of India (NPCI) said that UPI holds 85 percent in digital transactions in the country. Recently, India became the fastest payment country in the world. Unified Payments Interface (UPI) has a major contribution in this achievement. In the country, the use of debit cards and credit cards and other means of payment is decreasing. The International Monetary Fund (IMF) said in a Fintech that the use of UPI has increased rapidly in the last few years. However, the use of some means of payment like debit cards and credit cards is decreasing. The IMF had said, “India has become the fastest payment country in the world.”

Inter-bank transactions can be done immediately through smartphones from the UPI developed by NPCI. The scope of UPI has also increased abroad. This payment service has been launched in Singapore, Bhutan, Nepal, Sri Lanka, United Arab Emirates, France and Mauritius. This provides the facility to make payments easily to Indians traveling abroad. UPI’s share in real-time digital payments at international level has also increased to about 50 percent.

Recently, the Central Government had reiterated its commitment to promote payments digitally through UPI. Along with this, the government had clarified that the proposal to impose Goods and Services Tax (GST) on transactions worth more than Rs 2,000 from UPI is not being considered. UPI transactions are placed in two categories-Person-to-Person (P2P) and Person-to-CRINT (P2M). NPCI plans to add 20 to 30 crore new users for UPI. Its retail users have more than 45 crores. NPCI has also prepared to increase UPI features.

The use of Unified Payments Interface (UPI) has increased rapidly in the last few years in the country. The central government is not considering re -implementing the merchant discount rate (MDR) on these transactions. The Finance Ministry has given this information. The ministry has said that UPI will remain a low cost platform for the digital payments.

Recently a media report states that the government has more value Upi Zero MDR is reviewed again on payments. This report said that MDR is being considered to apply on transactions worth more than Rs 3,000. A report by the NDTV Profit quoted sources who are aware of the case as saying that a proposal is being considered to allow MDR on more value UPI transactions.

A senior official had said that last week, a meeting between the Prime Minister’s Office, Department of Financial Services and Department of Economic Affairs was considered to change the policy. However, sources have said that the government has no plans to implement MDR on low -value transactions. The National Payments Corporation of India (NPCI), which operates UPI, plans to add 20 to 30 crore new users for UPI. Its retail users have exceeded 45 crores.

UPI’s popularity increases rapidly and India’s contribution to digital transactions in the world is also increasing. A recent PWC report reported that in the last 12 years, retail digital payments have increased by about 90 times. NPCI’s plan also includes increasing UPI features. In the second half of the previous year, the value of transactions was increased to Rs 198 lakh crore with the use of mobile phones. This is an increase of about 30 percent on a year-on-year basis. It has an increased stake of UPI transactions. NPCI extended the volume limit for these transactions for two years. Apart from this, it was allowed to provide UPI services for all users of WhatsApp.

Controversy continues between American President Donald Trump and Billionaire Elon Musk. Trump has said that he is considering cancellation of government contracts received by Musk’s companies. America is a major market for Musk’s companies. A dispute with Trump -led US government may have an impact on the billions of dollars of Spacex’s rocket company Spacex due to a dispute. Apart from this, his electric vehicle (EV) company can also create difficulties for Tesla.

“We will see everything. It is a lot of subsidy amount,” Trump told reporters. Along with this, Trump said that there is no plan to interact with Musk. Trump’s tax -related bill was opposed by Musk. Trump alleges that the major reason for opposing this bill of Musk is not getting tax benefits on the purchase of electric vehicles. The US transportation department regulates the design standard and this can affect Tesla’s new launch. The company’s driver-assistance software is also being investigated in the US. Market analysts say Tesla’s stock is suffering a major loss due to Musk’s politics.

However, after the dispute escalated, Musk had expressed a desire to reconcile, but Trump says that he does not have a plan to interact with Musk. Tesla and Spacex receive billions of dollars from the US government through contracts or subsidies. Spacex, involved in the world’s highest value startups, has received contracts worth over $ 22 billion from the US Space Agency NASA and Defense Department.

Musk had helped Trump a lot during the election. Musk was also given important responsibility in the US government. In March this year, Trump also bought Tesla’s electric car to support Musk. Tesla’s electric car Trump praised that he wanted to drive the car. Trump had reported that he has also bought the company’s cybertruck along with Tesla’s model S.

The segment of cryptocurrency has increased rapidly over the years. Bitcoin’s share in this market is more than 50 percent. However, the central government’s attitude towards cryptocurrency in India has been strict. The Supreme Court has also expressed apprehension about bitcoin. The Supreme Court has described trading in bitcoin as hawala business. Along with this, the court has also reprimanded the central government for not clarifying the situation regarding the regulation of virtual currency.

While hearing the bail plea of ​​Shailesh Babulal Bhatt, who was reportedly arrested for illegal trade of bitcoin, a bench of Justices Surya Kant and An Kotishwar Singh described trading in bitcoin as hawala business. The bench said that during the hearing of a case related to trading in bitcoin about two years ago, it had asked the government to give information about the policy related to the trading of virtual currency but he has not received any answer yet.

Senior Advocate Mukul Rohatgi, appearing for Bhat, said that after rejecting a circular of the Supreme Court’s Reserve Bank of India (RBI), trading in bitcoins in the country is not illegal and because of this his client’s arrest is wrong. Justice Surya Kant told Rohatgi that he does not know much about bitcoin personally but the court has told the government that if there is regulatory control about it then there will be no problem. Justice Surya Kant said, “I only understand that there are some real bitcoins and some forged bitcoins. Trading hawala in bitcoin in the country is like a better deal of business.”

Rohatgi said that bitcoin has a lot of value and abroad you can go to the car showroom and buy a car from just one bitcoin. He said that the value of bitcoin is about 82 lakh rupees. Rohatgi said that he himself does not understand much about this trade. Additional Solicitor General Aishwarya Bhati, appearing for the Enforcement Directorate (ED) and the Government of Gujarat, said that they want to file a detailed reply to the bail plea as it is not only about trade in bitcoins. The Supreme Court has given a period of 10 days to the state government and ED to give their reply. The next hearing of the case will be held on 19 May. Bhat has claimed that he was arrested by the police last year and he has been in custody since then.

The popularity of Unified Payments Interface (UPI) has increased rapidly over the years. Consciousness fees will have to be paid on paying the bill through credit and debit cards on Google Pay, which provides UPI payments facilities. Earlier, there was a service of three rupees for mobile recharge on Google Pay.

A media Report According to this, for the payment of bills like electricity, water and gas on this platform, besides Goods and Services Tax (GST), you will have to pay the consumers fees. This fee will be from 0.5 percent to 1 percent of the value of transaction. It is being called ‘processing fees’ for credit and debit card transactions. Other UPI platforms like Paytm and PhonePe also charge such fees. This fee on Paytm is between Rs 1 and Rs 40. This fee on PhonePe ranges from 0.5 percent to 1 percent of the value of transaction.

In January this year, about 17 billion UPI payments have been made in the country. The total value of these payments was about Rs 23.48 lakh crore. This is an increase of about one percent as compared to December last year. Transactions reached around 16.73 billion in December through UPI. In December, the total value of transactions through UPI was about Rs 23.25 lakh crore. In the previous month, this figure was about 21.55 lakh crore rupees. In December, the average value of these transactions per day was around Rs 74,990 crore.

Last year, NPCI launched the UPI One World Wallet Service for non-resident Indians (NRI) and the country’s visiting international travelers. This will provide the facility to access the UPI by accessing the UPI who do not have an Indian bank account. NPCI has started this with IDFC First Bank and Transcorp International Limited under the guidance of Service Reserve Bank of India (RBI). The NPCI had said that the visitors of the country will be able to make digital payments safely to merchants with UPI One World Wallet. For this, foreign travelers and NRI will need to download a prepaid payment instrument-UPI app.

American President Donald Trump bought Tesla’s model S on Wednesday. Tesla’s Chief, Elon Musk helped Trump a lot during the election. Musk has also been given significant responsibility in the US government. However, atmosphere has been being created in the US against Musk for the last few months. It has also affected the price of Tesla’s stock.

Trump’s decision to buy Tesla’s car is being seen as his support for this EV maker. Tesla’s electric car Trump praised that he wants to drive the car but he is not allowed. Tesla’s model S has a dual-motor all-wheel drive setup. Its front motor gives power of 275 HP and rear motor 503 HP. It has a 98 kwh battery, whose range in single charge is about 524 kilometers. Trump said that he has also bought the company’s cybertruck along with model S.

Tesla’s share price included in large EV companies has declined by 47 percent since Trump took over as President on 20 January. Trump said in a post on his social media platform Truth Social, “Republicans, Conservatives and all people of America I want to tell that Mask is doing excellent work to help our country but staunch leftist is trying to boycott Tesla by combining the left -leaflets illegally.”

American opposing Musk and Trump is doing negative posts against Tesla on social media. In India too, Tesla is preparing to start a business. The company’s first showroom in the country may open at Brandra Kurla Complex (BKC) in Mumbai. Recently, the company has taken a space of about 4,000 square feet in BKC’s Maker Maxity Building. For this, a securities deposit of about 2.11 crore rupees has been given. The fare for this space will be Rs 35.26 lakh per month. Last month, Musk had a meeting with Prime Minister Narendra Modi during his visit to America.