The record surge in online payments since the onset of the pandemic is testing the digital infrastructure of public sector banks beset by sharp spikes in failed transactions, data from the National Payments Corporation of India (NPCI) shows. Ten of the top 30 banks using the country’s unified payment interface ( UPI) network recorded failure rates of over 3% for the month of September, latest data showed, nine of these ten banks are state-owned. United Bank of India recorded the highest ..
