Tag: valued

  • UPI dominates as India records 88 bn payment transactions, valued at Rs 150 tn in 2022.

    UPI dominates as India records 88 bn payment transactions, valued at Rs 150 tn in 2022.

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    New Delhi: Led by Unified payments interface (UPI), payment modes like debit and credit cards, prepaid payment instruments – mobile and prepaid cards processed 87.92 billion transactions worth Rs 149.5 trillion in 2022, a report showed on Monday.

    The UPI Person-to-Merchant (P2M) and Person-to-Person (P2P) are the most preferred payment modes among consumers with a market share of 40 per cent and 44 per cent, respectively, in terms of transaction volume (UPI was 84 per cent in total).

    In 2022, UPI clocked over 74.05 billion transactions in volume and Rs 126 trillion in terms of value, according to the report by Worldline, a global leader in payment services.

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    The average ticket size (ATS) for UPI P2P transactions was Rs 2,753 and ATS for UPI P2M transactions was Rs 687 (by December 2022).

    However, in terms of value, UPI P2M accounted for 18 per cent share whereas UPI P2P accounted for 66 per cent of digital transactions, according to the report.

    Payment through credit and debit cards accounted for 7 per cent in volume and 14 per cent in value.

    “The adoption of multiple payment solutions is a boon in our journey to realise the dream of a less-cash India,” said Ramesh Narasimhan, CEO, Worldline India.

    For UPI, the transaction volume and value almost doubled since last year as it recorded a 91 per cent increase in volume and over 76 per cent increase in value in 2022 as compared to 2021.

    As of December 2022, the total number of POS terminals deployed by merchant acquiring banks crossed the 7.55 million mark – a 37 per cent YoY growth.

    The total number of credit and debit cards in circulation by the end of 2022 was 1.02 billion, the report showed.

    In 2022, credit cards volume and value stood at 2.76 billion and Rs 13.12 trillion respectively.

    The debit card transactions volume and value stood at 3.64 billion and Rs 7.4 trillion, respectively.

    By December 2022, the number of prepaid payment instruments was 16.23 billion. Out of which, 13.34 billion were wallets and 288.8 million were cards, said the report.

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    ( With inputs from www.siasat.com )

  • Delhi Police recovers heroin valued at Rs 50cr; arrests 8

    Delhi Police recovers heroin valued at Rs 50cr; arrests 8

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    New Delhi: The Delhi Police, in two separate operations, has arrested eight persons and busted two illegal labs involved in the preparation of heroin, an official said on Wednesday, adding heroin valued at Rs 50 crore was also recovered.

    The arrested individuals have been identified as Roohullah Noori a.k.a Akbar, Siddiq Ansari, Guddu Ansari, Ajay Kumar, Zahid, Rahul, a 17-and-a-half-years-old juvenile and another person whose name has been withheld.

    The operations were carried out by the Crime Branch of Delhi Police. The raids resulted in the recovery of a total of 8.56 kg heroin.

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    “A raid was conducted in Punjab’s Jafrabad area and three men, an Afghan national, Roohullah, Siddiq and Guddu, were nabbed. During searches, around half a kg heroin was recovered from Roohullah, 1.40 gm from Siddiq and 750 gm from Guddu,” Ravindra Singh Yadav, Special Commissioner of Police (Crime), said.

    “They used to convert raw materials into fine quality heroin using various manufacturing items and transported it to different locations in Delhi-NCR and Punjab as guided by the Afghan nationals who operate from Afghanistan,” the Special CP said while addressing a press conference.

    Further, during the investigation, various apparatus such as gas cylinders, filter paper, plain clothes, large vessels, a mixer grinder, and a weighing machine, and other articles used to extract fine quality heroin from the raw materials, were recovered.

    “They used to receive raw materials from one Ajay in Jafrabad. Later, Ajay, a resident of Badarpur in Delhi was apprehended and questioned,” the officer said.

    Ajay was working on the directions of Rehmatullah, who resides in Afghanistan, and received raw materials in hidden form in parcels sent by these people to his address.

    “Two mobile phones were recovered from his possession, and various incriminating pictures were also found,” the Special CP said.

    The person who came to take delivery of heroin from Siddiq at Kailash Nagar was identified as Raju (not real name), a resident of Punjab.

    “Later, Raju was also nabbed who disclosed that he was working on the directions of an Afghan national and received deliveries of heroin near Kailash Nagar in his car,” the Special CP said.

    Raju further delivered heroin to various people in Amritsar, Ludhiana, Chandigarh, among others.

    In another operation, two men were arrested while a juvenile was apprehended and five kg of heroin was recovered from their possession.

    Acting on specific intelligence, a raid was carried out and one Mohd. Zahid, a notorious drug dealer, was nabbed.

    At his instance, the police also busted a lab that was operating in a residential building in Vijay Park, Maujpur.

    During questioning, Zahid confessed to preparing the recovered heroin at his house with the help of crude/opium poppy top extract and chemicals.

    Later, the police apprehended a juvenile, a resident of Delhi, who confessed to receiving the illegal heroin on behalf of one Neha, a resident of Aruna Nagar, Majnu Ka Tilla, and giving it to the area’s receivers.

    “It was also learnt that one of the arrested individuals, Rahul, is the son of Asha, a notorious drug trafficker in Delhi, who is in judicial custody. Neha is currently absconding,” the officer said.

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    ( With inputs from www.siasat.com )