In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
'In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.'
Slapped with a second hefty fine for anti-competitive practices, Google India on Wednesday said it remains committed to users and developers and is reviewing the antitrust body's order to evaluate next steps. The Competition Commission of India (CCI) on Tuesday slapped a Rs 936 crore fine on Google for "abusing" its dominant position on its Android mobile app store and ordered it not to prevent app developers from using third-party billing or payment processing services in India. That penalty came just days after a Rs 1,337.76 crore fine was imposed on it for abusing the dominant position of its Android smartphone operating system. Commenting on Tuesday's CCI order, a Google India spokesperson said Indian app developers have benefited from the technology, security, consumer protection, choice and flexibility that Android and Google Play provide.
India's internet subscriber base is 100-150 million, depending on whose estimates you take, and is growing at 20-30% a year.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
'Even if your phone goes missing for 15 minutes, be warned.' With e-wallets playing a larger role in transactions, these precautions are a must.
While most banks in India store all this data on Indian servers in their core banking systems, the current directive addresses new-age payment and fintech companies operating in the space
The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said.
The possibility of this is inextricably linked with the Unique ID project.
In an otherwise agriculture- and public health-focused Union Budget 2018-19, artificial intelligence, machine learning, blockchain technology, internet of things -- jargons that found little or no mention in the previous Budgets -- managed to make their presence felt.
India Post Payments Bank and Unique Identification Authority of India under an arrangement will allow postmen to update mobile numbers of Aadhaar cardholders. The service will be available through a network of 650 India Post Payments Bank, 1.46 lakh postmen and Gramin Dak Sevaks (GDS).
Customers can link their cards to banks' app and make payments after scanning a 'quick response' code.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
The app uses a traveller's mobile GPS to predict a train's delay.
Paytm, which recently hived off its e-commerce and payments bank businesses into separate companies, would use these fresh funds to bolster the two businesses
'Modi must see how we live, what we have to do to educate our children.'
His investment in Paytm is in his personal capacity.
India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over USD 1 billion to 51 as of end-August, a report said on Thursday. Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list. It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'.
Come April 23 and rail commuters can use a mobile phone App to obtain tickets in the unreserved category.
Meet Nilima Kalra, 79, Manju Roy, 80, Sumita Maan, 79, and Gurpreet Kaur, 75.
A court in New Delhi on Friday extended by three days the ED custody of four people arrested in a money laundering case against Chinese smart phone maker Vivo, including the managing director of Lava International mobile company and a Chinese national. The four accused were produced before Additional Sessions Judge Devender Kumar Jangala on completion of their three-day ED custody. On Friday, the agency moved four separate applications seeking extension of their custody by 10 days but the court granted it only three more days for custodial interrogation of the accused.
On government's last week's announcement of revamping of PSU banks, Fitch Ratings said the move is "credit positive, but risks remain".
Mobile internet penetration has grown thanks to affordable data costs, investments in content and evolution of monetisation avenues
'EV-charging is the next big opportunity after fuelling'
Google has said that it is pausing enforcement of Google Play billing system (GPBS) for developers in India. This comes after the Competition Commission of India (CCI) imposed a penalty of Rs 2,275 crore in two cases and an immediate cease-and-desist order of its policies of running the Android Mobile device and Play Store ecosystem. In a statement, the company said, "Following the CCI's recent ruling, we are pausing enforcement of the requirement for developers to use Google Play's billing system for the purchase of digital goods and services for transactions by users in India.
Vodafone can mitigate risks of money-laundering through M-Pesa by making sure the funds are being traced.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
This year, PhonePe is focussed on bringing more partners across categories, including travel, commute, food, hyper-local, retail and entertainment on the platform.
The government on Thursday imposed import restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers, and servers with immediate effect. The Directorate General of Foreign Trade (DGFT) in a notification said exemption from import licensing is provided up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return and product development purposes.
As many as 2,000 tourists stranded in Kasol area of Kullu district owing to incessant rainfall have been evacuated safely, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday.
In its second ruling against Google in less than a week, the Competition Commission on Tuesday slapped a penalty of Rs 936.44 crore on the internet major for abusing its dominant position with respect to its Play Store policies.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
For the last 15 years, Pitroda and Desai's team is working on the technology to pay through mobile phones. Pitroda already has 11 patents with him and some 20 patents related to this technology are pending for registration.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
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During his last visit to India, Khosla had said the focus of Khosla Labs would be to fund innovations around Aadhaar.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
Revenue intelligence officers have detected Rs 4,389 crore duty evasion by Chinese smartphone maker Oppo by misdeclaration of imports, the Finance Ministry said on Wednesday. The Chinese company deals in mobile brands -- Oppo, OnePlus and Realme. During an investigation of Oppo Mobiles India Private Limited, a subsidiary of Guangdong Oppo Mobile Telecommunications Corporation Ltd - China (Oppo China), the Directorate of Revenue Intelligence (DRI) has detected Customs duty evasion of around Rs 4,389 crore.
