The "construct of the DPDP Act" cannot be changed at this stage, though there may be some minor tweaks in the language of the Rules and formats in certain legitimate cases.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
'The introduction of a reasonable MDR for large merchant transactions will allow the industry to continue investing in innovation, cybersecurity, grievance redressal, and merchant support, ultimately ensuring that UPI continues to thrive.'
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
The entire construction of the Navi Mumbai airport project is expected to be completed in five phases.
'Binary fission will happen -- startups will lead to more startups.'
Nearly a dozen firms have shown interest in building the foundation model and LLMs, while others have proposed sector-specific SLMs.
It is the first airport in the country to have multi-modal connectivity. This includes a linkage to the project via road, rail, and a metro system.
Non-banking entities such as fintech firms will have to tap into use cases beyond peer-to-peer (P2P) and peer-to-merchant (P2M) transactions to scale up the presence of the retail version of the central bank digital currency (CBDC), which is also known as the e, said industry players. These use cases will enable programmable transactions across domains, including the government's direct benefit transfer (DBT) schemes, with subsidies restricted to specific purposes such as food coupons, hospital bills, fertilisers, pesticides, and cross-border remittances.
'It may take some time for them to get down to the details, such as the location and capacity.'
'We will start reaching out to researchers, academics, and experts on AI from top universities and companies from across the world.'
Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
'There is need for India-specific pricing.' 'Google, Microsoft and others also have different pricing.' 'It is important for OpenAI to think on these lines as the global pricing may not work in the Indian context.'
Currently there are 26 licensed players in the P2P lending sector but only 10-11 are actively operating.
Fintech firm BharatPe is targeting an initial public offering (IPO) in the next 18-24 months with the company expecting profitability at an earnings before interest, taxes, depreciation and ammotisation (Ebitda) level for FY25, chief executive officer (CEO) Nalin Negi said.
Widespread use of crypto assets, including stablecoins, can have a negative impact on the macroeconomic and financial stability of a country, the Reserve Bank of India (RBI) said on Monday. In its Financial Stability Report (FSR), the banking regulator highlighted that excessive use of crypto assets can reduce effectiveness of monetary policy, worsen fiscal risks, circumvent capital flow management measures, divert resources available for financing the real economy and threaten global financial stability.
In 2024, the National Payments Corporation of India (NPCI) approved 20 third-party Unified Payments Interface (UPI) applications, a record since UPI's launch in 2016. This surge reflects growing interest from financial technology (fintech) companies, driven by the integration of credit products like UPI-linked credit cards and pre-approved credit lines.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
The majority of crypto investors in the country have invested in mainstream virtual digital assets (VDAs) such as Bitcoins, altcoins like Dogecoin, Shiba Inu, and Ethereum, followed by non-fungible tokens (NFTs) and stablecoins, a compilation of year-end reports of crypto majors CoinDCX and CoinSwitch revealed. The crypto exchange platform CoinDCX reported that 14.6 per cent of total investments on its platform were allocated to Bitcoin, while CoinSwitch saw the share of the VDA at 7 per cent.
All the three companies that made their stock market debut on Wednesday delivered huge day-one gains for investors. Shares of digital payment major One Mobikwik Systems surged 90 per cent, while that of fashion retailer Vishal Mega Mart and pharma firm Sai Life Sciences gained around 40 per cent each. These stellar debuts came despite the benchmark indices logging continuous declines since their initial public offerings (IPOs) closed on Friday.
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