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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Banks face intermittent transaction declines; NPCI attributes disruption to financial year-end closure
The National Payments Corporation of India (NPCI), which operates the Unified Payments Interface (UPI), confirmed the development in a post on X.
“Today, due to the financial year closing, some of the banks are facing intermittent transaction declines. The UPI system is working fine, and we are working with the concerned banks for necessary redressal,” NPCI said.
This disruption marks the second such instance in less than a week, where users faced issues completing online transactions.
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UPI disruption impacts thousands of Indians
UPI faced a major disruption on the evening of March 26, 2025, with thousands of users unable to complete payments or fund transfers.
Digital payment platforms such as Google Pay, PhonePe, and others were affected, prompting users to flood social media with reports of failed transactions.
According to Downdetector, complaints surged past 23,000 after 7:00 PM on March 26, with many users expressing frustration over incomplete transactions.
The outage lasted for nearly an hour, during which users were unable to process payments or complete transfers, until the system began stabilizing.
In response to the issue, the National Payments Corporation of India (NPCI) issued a statement attributing the disruption to intermittent technical issues. While the UPI system itself was functioning well, NPCI clarified that the failures were linked to issues at certain banks, which had been caused by the closing of the financial year 2025 (FY25).
“Today, due to the financial year
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21.05 / 10:17
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Art
Booking
wellness
film
How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
21.05 / 10:17
markets
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
21.05 / 09:47
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21.05 / 09:47
markets
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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PI Industries’ weak core business keeps investors on edge
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21.05 / 09:47
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‘Should I Marry a Murderer?’ has left audiences stunned but what they saw wasn’t all that bizarre
Subscribe to enjoy similar stories.In the new Netflix documentary series Should I Marry a Murderer?, Caroline Muirhead, a Scottish forensic pathologist, falls in love with Sandy McKellar, a man who, after proposing, reveals to her that he and his brother have committed a homicide. What follows is baffling: Even after Muirhead turns him in to the police, she returns to his side.
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Secured credit cards: Unlocking credit and building a credit score for millions
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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