REGULATORY UPDATES
RBIProposesBRICSDigitalCurrenciesLinkageto ReduceDollarDependence
The Reserve Bank of India has proposed linking official digital currency of BRICS nations to enable smoother cross-border trade and tourismpayments.Theinitiativecanpotentially reduce reliance on the US dollar, especially amid rising geopolitical and currencysettlement uncertainties. The proposal is expectedtobediscussedontheagendaofthe BRICSSummit2026.
INDUSTRY UPDATES
RBISignalsEconomicOptimismwithStrongFY26 GrowthOutlook
In its January 2026 State of the Economy bulletin,theReserveBankofIndiaprojectedreal GDP growth of 7.4% for FY26, up from 6.4% previously. Despite continued global uncertainty, the projected growth can be attributed to the strong domestic demand, signalling sustained optimism in India’s economicgrowthtrajectory.
INDUSTRY UPDATES
RazorpaySecuresRBI’sPA-PLicense,Strengthening OmnichannelOfflinePayments
Razorpay has received the RBI’s Payment Aggregator–Physical(PA-P)license,authorising it to aggregate offline, in-store payments. The approval strengthens Razorpay’s omnichannel payments strategy and aligns with the RBI’s efforts to bring physical payment aggregation und
INDUSTRY UPDATES
ZETrecievedNPCITPAPApproval,EnablingRuPay CreditCardsonUPI
ZET,aCredit-focusedfintech,hasreceivedNPCI approval to operate as a Third-Party Application Provider (TPAP). The approval enables UPI payments via RuPay credit cards throughpartnershipswithRBLBankandJuspay, advancing the integration of credit products withintheUPIecosystem.
STRATEGIC PARTNERSHIP
Agoda–Mastercardpartnershipenhancestravel loyaltyredemptions
Agoda and Mastercard have partnered to enable real-time travel reward redemptions across Asia Pacific. By integrating Agoda’s travel inventory with Mastercard’s Global Redemption Suite, banks can offer instant, branded travel bookings, reflecting a shift toward more personalised, experience-led loyaltyprogrammes.
iServeU UPDATES
iServeUexpandsend-to-endUPIenablementfor banksandfintechs
Earlier,iServeUsupportedclientswithsoundbox onboarding, deployment, and operations while UPI switching remained client-managed. iServeUnowoffersend-to-endUPIenablement, including UPI onboarding, QR generation, merchant onboarding, and in-house soundbox integrationwithUPIcallbacks.
