India's markets regulator Sebi has launched 'Demat 2.0', a pilot project for tokenisation of corporate bonds, enabling atomic settlement through integration with RBI's wholesale CBDC. This new market infrastructure uses Distributed Ledger Technology (DLT) to make bond issuance, trading, and settlement faster and more efficient. India is the first country to issue corporate bonds natively on a distributed ledger with central bank digital currency settlement. Additionally, RBI Governor announced new UPI innovations: 'Tap & Pay' for faster POS transactions and MyUPI, an AI-powered customer support solution.
UPI transactions saw a 27% volume increase and 20% value increase in the first half of the current fiscal year. Despite a slight moderation in September, the digital payment system is set to implement a 0.4% merchant discount rate on transactions over Rs 2,000, aiming for a sustainable revenue model. Small merchants and person-to-person payments remain exempt, and UPI's global presence continues to expand.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
Unified Payments Interface (UPI) transactions moderated slightly in June from a record high in May, reaching Rs 28.9 lakh crore. Despite a month-on-month decrease in volume, the daily average transactions hit a new high, indicating UPI's strong adoption for low-value payments. The platform also demonstrated significant annual growth and expanding international presence.
Mumbai and its metropolitan region are experiencing severe monsoon rains, leading to widespread waterlogging, transport disruptions, and the closure of schools and colleges. The India Meteorological Department (IMD) has issued an 'extremely heavy rainfall' alert, with some areas receiving nearly 200 mm of rain in 12 hours, prompting Chief Minister Devendra Fadnavis to urge residents to avoid non-essential travel.
UPI transactions in India reached record highs in May, driven by summer travel and the IPL, with transaction value hitting Rs 29.90 lakh crore and volume reaching 23.2 billion.
A 55-year-old man died after falling into an open manhole in Mumbai during heavy rains, leading to the Brihanmumbai Municipal Corporation (BMC) suspending four officials and initiating a homicide case against the responsible contractor for alleged negligence.
'Why not aspire for 8 or 9 or even 10 per cent?'
Unified Payments Interface (UPI) transactions reached a record high in March, driven by festivities and the financial year closure, according to the National Payments Corporation of India (NPCI).
'Travellers are considering safer and more stable destinations.'
The ONGC expert teams are arriving from Mumbai and Delhi to douse the gas well blaze in Mori in Dr B R Ambedkar Konaseema district of Andhra Pradesh, an official said on Tuesday.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
Indian automakers are reviving legacy nameplates to leverage brand recall and stand out in a crowded market, as classic badges like Sierra, Safari, Baleno and Scorpio return to attract buyers.
The gas well blaze near the Irusumanda village in Dr B R Ambedkar Konaseema district in Andhra Pradesh will be doused in a week's time, an official said on Tuesday, citing information from ONGC officials.
Mathura transformed into a fortress for Shri Krishna Janmashtami, with heavy security and traffic restrictions in place for the Krishna Mahotsav. Authorities have implemented strict measures, including social media monitoring and restricted items at the temple, to ensure the safety of devotees.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
By 10 am, Rakshit N Jagdale is already deep into the rhythm of the day, which promises to be a carousel of meetings, calls, and strategic decisions. As managing director of Amrut Distilleries, he balances ritual and ambition, tradition and transformation, like many other legacy players in India's alcoholic beverages sector who are staring at a rosy future.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
'The largest listenership for Vividh Bharati outside the country is in Spain.' 'The labourers who go there for the tomato-picking season feel cut off from their country and listen to Vividh Bharati to overcome their loneliness.'
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
The Broken News 2 is worth watching because of Jaideep and Shriya's fabulous acting, recommends Namrata Thakker.
As many as 44 flights to and from the Kempegowda International Airport in Bengaluru were cancelled owing to the Karnataka bandh over the Cauvery water sharing issue with Tamil Nadu, airport authorities said.
S&P Global Ratings on Tuesday said there will not be any significant direct financial spillover risks because of the problems being faced by the Adani group, though there can be some secondary impact such as banks undertaking extra due diligence while giving loans to corporate. S&P senior director (infrastructure & utilities ratings), Abhishek Dangra said as per external estimates, the exposure of the banking sector to Adani group companies is less than 1 per cent and also the credit ratings of the firms are not at 'distress level'.
Several activists of pro-Kannada organisations were also whisked away by the police at Town Hall, as they gathered there to stage a protest.
Holding company proposed with different businesses as divisions.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
The government on Monday proposed to levy Minimum Alternate Tax (MAT) of 18.5 per cent on the book profits of Special Economic Zone developers and units, which was termed as a 'setback' by the players.
'It's dull because this time the election is spread over such a long period.'
In the months of May, June and July, state and district level conventions of the SKM shall be held in every state/UT to galvanise and organise farmers and farm workers, it said.
'Maharashtra's asmita was crushed under Delhi's feet.' 'Marathi Manoos is definitely angry.'
Farmer leader Abhimanyu Kohar said the government has also made some corporate people members of the MSP panel.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
