Indian banks and non-banking financial companies (NBFCs) are undertaking a comprehensive review and reset of their engagement terms with fintech firms, driven by the Reserve Bank of India's (RBI) draft Guidance on Regulatory Expectations for Data Governance and the stringent compliance requirements of the Digital Personal Data Protection (DPDP) Act, 2023, and its 2025 Rules.
Chief Economic Advisor V Anantha Nageswaran highlights the challenges of digital access, data governance, interoperability, and cyber security in India's digital public infrastructure (DPI), despite its world-class scale.
A new report reveals that enterprise AI investment in India has surged by 119 per cent, exceeding the global average. However, only 22 per cent of Indian organisations have established adequate governance frameworks, creating a significant gap between rapid deployment and safe, scalable AI adoption. This lack of governance impacts operational depth and raises concerns about transparency, regulation, and data privacy.
The Delhi government has signed a Memorandum of Understanding with EkStep Foundation to transform its administrative data into an AI-ready format. This initiative aims to improve governance, enhance public service delivery, and enable proactive, evidence-based decision-making by leveraging artificial intelligence.
The Securities and Exchange Board of India (Sebi) is set to undertake a comprehensive overhaul of the small and medium enterprise (SME) listing framework and tighten accountability around the use of artificial intelligence (AI) and machine learning (ML) in financial markets, Sebi Chairman Tuhin Kanta Pandey announced.
India's government has implemented stringent new regulations under the Telecommunications Act 2023, mandating that all communication infrastructure providers, including those utilising cloud-based networks, must store telecommunication data exclusively within the country, a move expected to significantly impact domestic data centre demand.
The CEO of the National Health Authority, Sunil Kumar Barnwal, highlighted BRICS nations' shared aspiration for connected, patient-centric, and resilient healthcare systems through digital health infrastructure and responsible AI. Discussions at the 16th BRICS Health Ministers' meeting focused on overcoming challenges like limited interoperability and workforce constraints, with countries like Brazil and Indonesia sharing successful digital health initiatives.
A data breach does not end when the headlines fade. For victims, stolen personal information can fuel fraud, identity theft and financial losses for years.
An innovation roadmap, a mechanism to double annual bilateral trade within next five years, and a joint artificial intelligence framework were among 13 outcomes to emerge from wide-ranging talks between Prime Minister Narendra Modi and President Emmanuel Macron on Sunday.
Sikkim has identified 40 high-hazard glacial lakes, with 16 at the highest risk of catastrophic outbursts. Following a devastating GLOF in 2023, the state is developing India's first dedicated GLOF Risk Mitigation Protocol, using advanced monitoring and interdisciplinary approaches to protect downstream settlements and serve as a model for other Himalayan regions.
A Public Interest Litigation has been filed in the Supreme Court challenging the Centre's decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000. The plea argues that the levy was introduced without adequate statutory safeguards, transparency, or public consultation, and questions its constitutional validity and potential adverse effects on merchants and consumers.
India's Ministry of Electronics and Information Technology (MeitY) has sought an explanation from WhatsApp regarding its username feature, citing concerns over potential cybercrime facilitation. Concurrently, the ministry is investigating reported data leak allegations involving Tata Electronics, a key supplier for Apple's iPhone components in India. MeitY is also exploring techno-legal solutions for VPNs to address challenges posed by unregistered providers operating from outside India.
The Karnataka government has formed a committee on responsible AI to develop a framework for the safe, ethical, and transparent adoption of AI across government systems and public services.
The Union Cabinet has approved a significant increase in the mandatory EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month, a move expected to bring over 51 lakh additional employees under mandatory social security coverage.
A new report by ADP reveals that one in two Indian companies plan to adopt AI-powered payroll systems within the next 12 months, driven by the need for automation in workforce management, compliance, and compensation decisions. However, firms are increasingly cautious about data protection risks, especially with the implementation of the Digital Personal Data Protection (DPDP) Act, 2023.
The NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
The Finance Ministry has clarified that the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000 was made independently, refuting claims of foreign influence. The ministry stated the policy aims to build a self-sustaining digital payments ecosystem, with MDR funding infrastructure and supporting small merchants.
The Indian government has introduced a 0.4% transaction fee on Unified Payments Interface (UPI) payments exceeding Rs 2,000 for merchants, effective October 15, marking the end of nearly six years of free service. Person-to-person transfers and small-value transactions below Rs 2,000 remain free. The new Merchant Discount Rate (MDR) is capped at Rs 300 for transactions above Rs 75,000, with differentiated rates for essential sectors and investments, and safeguards to prevent costs from being passed to consumers.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
The United States and the European Union have strongly criticised India's trade policies at the World Trade Organization review, highlighting concerns over high tariffs, quality-control orders (QCOs), and restrictions on digital trade and services, which they argue undermine India's economic openness.
India's newly formed Artificial Intelligence Governance and Economic Group (AIGEG) is set to advocate for a unified legal framework for AI companies, including developers of large language models and chatbot systems, alongside broader operational rules.
The Supreme Court has indicated that its judges may personally visit the National Testing Agency (NTA) to examine its upgraded facilities aimed at preventing recurring NEET paper leaks. This unusual move underscores the court's emphasis on institutional strengthening and permanent solutions. The NTA informed the bench that it has overhauled its system, while a high-powered panel is also working on structural reforms to ensure foolproof examination processes.
The Indian government has introduced a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant (P2M) transactions exceeding Rs 2,000, effective October 15. This move ends nearly six years of fully free UPI payments, though person-to-person (P2P) transfers and small P2M payments remain free. The charges aim to bolster investment in UPI infrastructure, with specific exemptions and caps for essential sectors.
The Securities and Exchange Board of India (Sebi) has proposed a new framework to manage strike prices for options contracts, aiming to ensure continuous availability of suitable contracts even during sharp intraday market swings. This move addresses concerns that extreme price movements can leave traders without appropriate options for hedging or positioning.
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
The political confidence required to place high-end Japanese aircraft and personnel on Indian soil is itself a data point.
It indicates a level of trust that would have been difficult to imagine when India-Japan defence ties were largely symbolic, explains Varun Arya.
GIS intelligence solutions provider Mirai Aerospace Systems and Software Solutions has signed an MoU with US-based GreenValley International Inc to strengthen India's geospatial and LiDAR remote sensing manufacturing base. The collaboration focuses on local assembly, manufacturing, technical support, and the development of AI-driven LiDAR applications, aiming to meet India's growing demand across various sectors.
Minister of State for Telecom Chandra Sekhar Pemmasani urged BRICS nations to collaborate on building institutional capacity and advocating for fair standards in international telecom and ICT bodies. He highlighted India's willingness to share its modular, open-source digital public infrastructure frameworks like Aadhaar and DigiLocker, emphasising their role in sustainable development and economic growth across the Global South.
India's mining sector is shifting from sustainability compliance to a data-driven model focused on long-term performance, driven by evolving ESG regulations and digital compliance, according to a Deloitte-ICC report.
The top 500 listed companies had 860 women directors or board members overall.
Phishing sites mimicked SBI, ICICI Bank and Axis Bank to steal card details and OTPs.
Quantum computing is set to redefine artificial intelligence, cybersecurity, and scientific discovery, promising unprecedented speeds and capabilities while also necessitating urgent development of quantum-safe security measures and strategic enterprise readiness, says Sunil Varghese.
The fiscal consolidation path and Rs 1 trillion stabilisation fund provide room to absorb mild shocks, but sustained oil-price increases pose risks.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for the defence of competition, policy autonomy, and the long-term sustainability of its payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI transactions, a move GTRI suggests should not be influenced by foreign trade complaints.
Economists highlight that resolving domestic policy bottlenecks, particularly through land reforms and improving the ease of doing business, will be critical for Prime Minister Narendra Modi's 'next-generation reforms' and India's economic transformation towards its 'Viksit Bharat' vision for 2047.
The Jammu Municipal Corporation has launched an integrated system combining AI-based road monitoring with cold emulsion pothole patching machines. This initiative aims to ensure timely and scientific repair of damaged roads across the city, leveraging modern technology to identify and fix defects efficiently, especially before the monsoon season. The AI system also detects other civic issues, promoting smart urban governance.
'The trigger for the flood was definitely natural, but the damage that it caused was human-made.'
Prime Minister Narendra Modi, in his Independence Day address, highlighted technology and innovation as central to India's goal of becoming a developed nation by 2047. He called for India to lead in emerging technologies like AI, quantum computing, and space, announcing a massive AI skilling initiative for one crore youth. Modi stressed the importance of becoming a global innovation hub, bolstering energy security with nuclear power, and strengthening cybersecurity.
'Improved law and order and transparent governance have helped change UP's investment image.'
