India must change approach and have better access to networks to fulfil its digitisation dream.
The Centre has taken a major step towards increasing efficiency in decision-making by empowering joint secretaries to report to secretaries directly, officials said on Wednesday.
Walmart-owned fintech firm PhonePe said it has crossed 500 million lifetime registered users on its platform. With this milestone, 1 in 3 Indians are now on PhonePe. The company said it is the first Indian internet company to have reached this scale globally. This milestone has been achieved in just over 7 years since the PhonePe UPI (Unified Payments Interface) payments launched in August 2016.
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
'We created war rooms -- from an IT perspective and also a customer war room -- to address any challenges that come up.'
'You can choose who you would like as your showstopper.' 'You have the freedom to create your own background -- sun, moon and the stars, which may sometimes not be possible in a physical show.'
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
Asserting that the world does not have much time to correct the mistakes of the last century, Prime Minister Narendra Modi on Friday announced a 'Green Credit Initiative' focused on creating carbon sinks through people's participation and also proposed to host the United Nations climate conference in 2028, or COP33, in India.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
The Universal Immunisation Programme is one of the largest vaccination projects in the world aimed at protecting children and pregnant mothers from preventable diseases. Under it, the government provides shots for 12 vaccine-preventable diseases, such as polio, diphtheria, tetanus, measles, and hepatitis B, for free.
The real risk is that the core assumption -- that the votes for a candidate sponsored by an alliance will at least equal the sum total of its parts -- proves to be facile, observes T N Ninan.
The commanders present in Delhi gathered at the South Block in Raisina Hills area, while many others joined the deliberations virtually.
According to officials, seven employees of the Yojna Bhawan having access to the basement have been detained for questioning.
The Bihar police will soon put to use Artificial intelligence technology to nab people involved in illegal liquor trade and other crimes, a senior police officer said on Friday.
Home Minister Amit Shah on Friday introduced three bills in Lok Sabha to replace the Indian Penal Code, Criminal Procedure Code and the Indian Evidence Act, asserting that the proposed laws will transform the country's criminal justice system and bring the spirit to protect the rights of citizen at the centre stage.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
The data protection bill introduced in Parliament on Thursday enables the government "to call for information" from data protection board, data collecting entities or intermediary, and safeguards the Centre from legal proceedings for "action taken in good faith" under the provisions of the legislation.
Prime Minister Modi's visit saw India and the US signing several major deals to boost cooperation in key areas such as defence, space and trade.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
The National Medical Commission in the Professional Conduct Regulations also bar doctors from endorsing any drug brand, medicine or equipment, or advertise them.
India and Saudi Arabia on Monday called on states to reject the use of terrorism against other countries and prevent access to weapons, including missiles and drones, to commit acts of terror.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
Anu Malik reveals how Baazigar revived his career.
The prime minister was briefed by Chief of Defence Staff Gen Anil Chauhan about the various discussions conducted at this year's Combined Commanders' conference.
Cheil India has a strong presence in the retail and shopper marketing space.
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The draft policy proposes the launch of a non-personal data based India datasets program and addresses the methods and rules to ensure that non-personal and anonymised data from both government and private entities are safely accessible by the research and innovation ecosystem.
A strong business update for the April-June quarter of the 2023-24 financial year Q1FY24 has led to a big jump of over 7 per cent in the share price of Bajaj Finance on Tuesday (July 4). The non-banking financial company's (NBFC's) new loan book grew 34 per cent with 9.9 million new loans booked in Q1FY24 from 7.2 million loans booked in Q1FY23. The company's total customer franchise rose to 72.98 million (as on June 30, 2023), compared to 60.30 million year-on-year (YoY) with the highest-ever quarterly increase of 3.84 million in Q1FY24. Assets under management (AUM) grew by 32 per cent to about Rs. 270,050 crore in Q1FY24 from Rs. 204,018 crore in Q1FY23.
Digital payments across the country registered a growth of nearly 29 per cent in a year through March 2022, as per the RBI's latest index that measures the adoption of online transactions. The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021. "The RBI-DPI index has demonstrated significant growth, representing the rapid adoption and deepening of digital payments across the country in recent years," the RBI said in a statement on Wednesday.
A new law that defines how companies should process users' data came into force with the President giving assent to the Digital Personal Data Protection (DPDP) Act passed by Parliament in the just-concluded monsoon session. The law arms individuals with greater control over their data while allowing companies to transfer users' data abroad for processing, except to nations and territories restricted by the Centre through notification. It also gives the government power to seek information from firms and issue directions to block content.
Days after rules were issued allowing linkage of Aadhaar with voters list to weed out duplicate entries, the Election Commission has warned of 'severe' disciplinary action against electoral registration officers for any leakages of physical forms filled by electors to share their Aadhaar details.
Open Network Digital Commerce (ONDC) has expanded its pilot to 15 more cities. This comes at a time when it plans to begin operations next month. Snapdeal has also signed the onboarding agreement with the network and will debut on it next month. On Monday, ONDC expanded to Noida, Faridabad, Lucknow, Bijnor, Bhopal, Chhindwara, Kolkata, Pune, Chennai, Kannur, Thrissur, Udipi, Kanchipura, Pollachi, Mannar and Ramnathpuram.
Not just unclaimed bank deposits, there are thousands of crores of rupees locked in unclaimed shares and insurance policies lying with many institutions across India.
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
No process can offer a panacea for ethnic conflict, but there are times at which a legal process could work to defuse violence, asserts Supreme Court lawyer Devvrat.
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