NPCI in talks to remove ‘pull transactions’ on UPI to reduce digital frauds

Mumbai, (IANS): In an effort to curb rising digital frauds, the National Payments Corporation of India (NPCI) is reportedly in early discussions with banks to eliminate ‘pull transactions’ on the Unified Payments Interface (UPI).Most frauds are happening through the pull method, and NPCI is exploring the possibility of removing this feature altogether to reduce fraudulent activities.A 'pull transaction' happens when a merchant sends a payment request to a customer, while a 'push transaction' occurs when a customer directly makes the payment using a QR code or other methods.By removing 'pull transactions', fraud cases could decline, but some bankers fear that genuine transactions may also be affected, potentially lowering efficiency, according to a report by NDTV Profit.However, NPCI, which operates retail payment and settlement systems in India, has not commented on this development yet.The discussions are still at an early stage, and a final decision on implementation has not been made yet, the report said.This development comes at a time when UPI payments are gaining immense popularity in the country. In February alone, UPI transactions crossed 16 billion, with the total transaction value exceeding Rs 21 lakh crore.In 2024, UPI transactions surged nearly 46 per cent, reaching a record 172.2 billion, up from 117.7 billion in 2023.With the increasing number of digital transactions, incidents of cyber fraud have also risen. Fraudsters...

Read More........ → March 21, 2025

Changing jobs is a big move but it’s worth considering if your workplace is toxic

Rauschan_films/Shutterstock Timothy Colin Bednall, Swinburne University of Technology and Kathryn Page, Swinburne University of TechnologyReturning to work after a summer break can be jarring, especially for the many workers dissatisfied with their jobs. Almost half report high levels of job-related stress. Dissatisfaction can be tied to an unhealthy, even toxic workplace where negative behaviour and poor leadership harm employee wellbeing and productivity. Key indicators include bullying, harassment, lack of trust, poor communication and high job strain. The impact of toxic workplaces If you think your workplace is toxic, it is worth considering the impact it is having on your mental health. You might also consider how committed your organisation is to supporting its employees’ mental health. Toxicity can develop gradually through subtle patterns of micromanagement, exclusion, or eroding morale. These dynamics create a draining environment that undermines individual wellbeing and business success. As well as affecting employees’ mental health, there is growing evidence workplace stress may lead to serious physical health problems, such as cardiovascular disease. According to Safe Work Australia, mental health-related workers’ compensation claims have increased by over a third since 2017-2018. In 2021-2022, there were 11,700 accepted claims relating to mental health conditions. These cases proved highly costly for...

Read More........ → March 20, 2025