India moved from a cash-dominant, pre-GST, pre-UPI economy in January 2015 to one built on UPI (20bn+ monthly transactions by August 2025), nationwide GST (sin…
India's revised CPI series, base year 2012=100, takes effect from January 2015 — designed to better reflect real household spending. The JAM Trinity (Jan Dhan + Aadhaar…
NPCI launches the Unified Payments Interface, letting bank accounts talk to each other through mobile apps in seconds. Volumes start tiny — but the architecture is revol…
₹500 and ₹1,000 notes lose legal-tender status overnight on 8 November 2016 — roughly 86% of currency value in circulation. Cash queues form; digital payment alternative…
A patchwork of state and central taxes becomes one nationwide GST framework built on digital invoices and input-tax-credit chains, effective 1 July 2017.
IL&FS starts defaulting mid-2018, shaking confidence in non-bank lenders that fund housing, vehicles and small business. Credit growth slows before COVID even arrives.
India's lockdown begins 25 March 2020. The RBI cuts the repo rate by a cumulative 185 basis points across FY2019-20, including a 75-bps emergency cut, reaching a decade-…
Russia's invasion of Ukraine (Feb 2022) spikes global energy and food prices. The RBI raises the repo rate by a cumulative 250 basis points, from 4.00% to 6.50%, between…
Policy attention shifts to domestic manufacturing capacity — PLI schemes across electronics, semiconductors, batteries and pharma, alongside continued infrastructure bui…
NPCI records UPI crossing 20 billion transactions in a single month for the first time — worth roughly ₹24.85 lakh crore — the clearest marker of how differently money m…
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