India at the Forefront of Digital Revolution: RBI’s Patra
1 month, 3 weeks ago

India at the Forefront of Digital Revolution: RBI’s Patra

Deccan Chronicle  

Mumbai: India is at the forefront of the digital revolution and financial technology is speeding up digital payments, the Reserve Bank of India Deputy Governor Michael Debabrata Patra said on Wednesday. Patra in his inaugural address at the DEPR Conference on 'Digital Technology, Productivity and Economic Growth in India' said that the country is uniquely positioned to unlock new growth avenues and optimise existing ones with its digital public infrastructure, a vibrant information technology sector and a burgeoning youth population, including one of the largest AI talent bases he said. Patra said that micro-level evidence from surveys of Indian banks shows that while all of them have implemented mobile and internet banking, 75 per cent offer online account opening, digital KYC, and digitally enabled doorstep banking. Additionally, 60 per cent provide digital lending, 50 per cent offer payment aggregator services, 41 per cent use chatbots, 24 per cent have adopted open banking, and 10 per cent have integrated Internet of Things technology. Examples include monthly savings of 14,500 person-days, 25-30 per cent decline in customer acquisition costs, reduction of the use of 84 tons of paper, saving of four lakh litres of fuel in commutes to banks by customers, 40 per cent reduction in customer wait times at branches, 50 per cent reduction in the compliance monitoring time and shortening account opening time to less than a day.

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History of this topic

Govt improving direct benefit transfer
3 weeks, 3 days ago

Govt improving direct benefit transfer

Deccan Chronicle  

New Delhi: The finance ministry on Sunday said that the department of expenditure has been consistently improving direct benefit transfer or DBT linkages between beneficiaries and on boarding with external systems to facilitate greater ease of living. As part of its review for the year 2024, the DBT through the public financial management system supports digital India by enabling electronic …

Shaktikanta Das: Six major policy decisions in six years as RBI Governor
4 weeks, 2 days ago

Shaktikanta Das: Six major policy decisions in six years as RBI Governor

India TV News  

Outgoing Reserve Bank of India Governor Shakti Kant Das has guided the country’s monetary policy through turbulent times during his six-year tenure. The central bank also announced a monetary policy including a Targeted Long-Term Repo Operations of Rs 1 lakh crore aimed at supporting critical sectors like MSMEs and NBFCs. Indian digital currency revolution Under Das’s leadership, India made significant …

UoH Professor Highlights Advantages of Digital Payments
1 month, 1 week ago

UoH Professor Highlights Advantages of Digital Payments

Deccan Chronicle  

Anantapur: Prof. Debashish Acharya from the School of Economics, University of Hyderabad, highlighted the RBI’s digital currency ecosystem at a national seminar on Digital Transformation and the Future of India’s Economy, organised by the Indian Council for Social Science Research at the Central University of Andhra Pradesh. In his keynote, Acharya discussed the advantages of digital payments over traditional cash, …

Digital Infrastructure: The Secret Weapon for India's Economic Ascent
2 months, 2 weeks ago

Digital Infrastructure: The Secret Weapon for India's Economic Ascent

The Hindu  

Finance Minister Nirmala Sitharaman emphasizes the crucial role of digital infrastructure in propelling India's economic growth. She highlights the widespread adoption of digital infrastructure by the Indian people, which has facilitated access to essential services and empowered millions to benefit from various opportunities. The Minister emphasizes the transformative impact of the Digital Public Infrastructure (DPI), which has democratized access to …

Cybersecurity vital for progress: Shah
3 months, 4 weeks ago

Cybersecurity vital for progress: Shah

New Indian Express  

Highlighting the ‘1930’ national cyber helpline telephone number, the home minister said there is an urgent need to popularise this as part of a special campaign, which is going to be launched by I4C from Wednesday to spread awareness about cybercrimes. Shah also stressed effective counter-measures against cybercrimes while asserting that the country’s development was “impossible in current times” without …

India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re
4 months ago

India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re

Live Mint  

- India's digital payments industry is witnessing a huge surge, with transaction volumes growing by 42 per cent year-on-year in FY 2023-24, according to a new report by PwC. In FY 2023-24, UPI saw an impressive 57 per cent YoY growth in transaction volume, surpassing 131 billion transactions. Growth trends The report estimates that by FY 2028-29, UPI transactions could …

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
5 months ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

Reduce Big Currency Notes, Encourage Digital Payments, CM Tells Bankers
5 months, 4 weeks ago

Reduce Big Currency Notes, Encourage Digital Payments, CM Tells Bankers

Deccan Chronicle  

Vijayawada: Chief Minister Nara Chandrababu Naidu has called upon bankers to cooperate with the beneficiaries of subsidised loans, welfare schemes and developmental initiatives. Naidu advised bankers to reduce the dependence on, or circulation of, big currency notes of Rs 500 and Rs 200, and promote digital transactions. A loan plan with Rs 5,40,000 crore was released, showing allocations of Rs …

Tamil Nadu: 13 lakh more pay electricity bills online compared to 2023
7 months, 3 weeks ago

Tamil Nadu: 13 lakh more pay electricity bills online compared to 2023

New Indian Express  

CHENNAI: Year on year, the state is marking a sharp increase in the number of consumers making their electricity bill payment online, according to the data accessed by TNIE from Tamil Nadu Generation and Distribution Corporation. A senior Tangedco official told TNIE, “Out of the total 3.5 crore consumers, which include domestic users, commercial establishments, and industries, Tangedco collects payment …

Banks rely on AI as digital transactions grow, and methodology of frauds evolves
8 months ago

Banks rely on AI as digital transactions grow, and methodology of frauds evolves

Hindustan Times  

India’s digital transactions continue to see rapid growth, and that translates to big volumes. On April 24, the Reserve Bank of India barred Kotak Bank from issuing new credit cards for now, due to “the absence of a robust IT infrastructure and IT Risk Management framework.” It draws on a mix of factors, including reliability of the bank’s infrastructure alongside …

RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable
11 months ago

RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable

The Hindu  

“With India’s current account deficit declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. Moreover, with around 10.2% share in world telecommunications, computer and information services exports, India is a …

Pandemic to Prosperity: Finance Ministry's Report Says India's Digital Infra Empowers Citizens, Fuels Growth
11 months, 1 week ago

Pandemic to Prosperity: Finance Ministry's Report Says India's Digital Infra Empowers Citizens, Fuels Growth

News 18  

The Ministry of Finance’s recently released report, ‘The Indian Economy – A Review’, has lauded India’s digital transformation, highlighting the success of the Digital Public Infrastructure and its significant role in delivering services with a citizen-centric focus. The report noted that as the pandemic disrupted economic activities, the government responded swiftly, leveraging the strength of digital public infrastructure, commonly known …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar
1 year, 1 month ago

Digital economy to contribute 20% of India’s GDP by 2026: Union Minister Rajeev Chandrasekhar

India TV News  

Gandhinagar: Union minister Rajeev Chandrasekhar on Thursday said that the digital economy will contribute 20 per cent of India's gross domestic product by 2026. Rajeev Chandrasekhar on digital economy "In 2014, the digital economy was around 4.5 per cent of the GDP and today it is 11 per cent. India has now become fastest-growing digital economy The Union Minister asserted …

‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000
1 year, 1 month ago

‘Pay… Paid’: How India plans to put paid to frauds adding delay to first-time digital payments of over Rs 2,000

Firstpost  

In order to curb scams that use online transactions, the government of India is thinking of ways to add some friction bewteen first time transactions between two parties, if the amount is over Rs 2,000 The government of India is planning to add friction in the way first-time online transitions are done between two parties, in order to combat online …

World Bank Praises India's Digital Public Infrastructures
1 year, 4 months ago

World Bank Praises India's Digital Public Infrastructures

Deccan Chronicle  

New Delhi: Lauding India’s Digital Public Infrastructures approach, the World Bank has stated that India has achieved in just six years under the Narendra Modi-led government what would have otherwise taken about five decades. "In just six years, India has catapulted its financial inclusion rate from 25 per cent in 2008 to over 80 per cent of adults, according to …

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'
1 year, 4 months ago

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'

Hindustan Times  

The World Bank has lauded the transformative impact of Digital Public Infrastructures in India in the past decade under the Narendra Modi-led government. The document, prepared by the World Bank as part of the G20 Global Partnership for Financial Inclusion, highlighted the measures taken by the Modi government and the pivotal role of government policy and regulation in shaping the …

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:
1 year, 4 months ago

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:

ABP News  

In a recent keynote address at the G20 TechSprint Finale, Reserve Bank of India Governor Shaktikanta Das drew attention to the challenges surrounding cross-border payments, emphasising the issues of high costs and slow transaction speeds. Das indicated that the central bank digital currency — dubbed Digital Rupee — instant-settlement feature could offer a viable solution to these challenges. Despite advancements …

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM
1 year, 4 months ago

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM

The Hindu  

Finance Minister Nirmala Sitharaman on August 28 said Jan Dhan Yojana-led interventions and digital transformation have revolutionised financial inclusion in the country, as more than 50 crore people have been brought into the formal banking system with cumulative deposits surpassing ₹2 lakh crore. On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana, which is one of the biggest …

India ranks first in digital payments made globally: Report
1 year, 4 months ago

India ranks first in digital payments made globally: Report

Deccan Chronicle  

Hyderabad: Online banking and the shift to a cashless society started approximately three decades ago in India. This year, 91 billion digital payment transactions have been recorded and today India ranks first in the number of digital payments made globally. Backbase on Wednesday released the IDC Infobrief titled ‘Accelerating customer-centric transformation by balancing build and buy - A collaborative approach …

Rs 14,900-cr Push to Digital India Project
1 year, 4 months ago

Rs 14,900-cr Push to Digital India Project

Deccan Chronicle  

New Delhi: The government has approved an extension of the Digital India project, valued at over Rs 14,900 crore, spanning five years from 2021-2022 onwards. This development arrives amidst a context where the Digital India Programme faced a reduction in the budget estimate for the ongoing fiscal year in comparison to the revised estimate of the previous year. Whereas the …

Union Cabinet approves ₹14,903 cr for expansion of Digital India programme
1 year, 4 months ago

Union Cabinet approves ₹14,903 cr for expansion of Digital India programme

Hindustan Times  

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the expansion of the Digital India programme with an outlay of ₹14,903 crore. Union electronics and information technology minister Ashwini Vaishnaw said that it will boost the digital economy of India, drive digital access to services and support the country’s IT and electronics ecosystem. The minister said that …

India tops in digital payments, records 89.5 mn transactions, says MyGovInd
1 year, 6 months ago

India tops in digital payments, records 89.5 mn transactions, says MyGovInd

Live Mint  

India global rankings in digital payments for the year 2022, according to data from MyGovIndia. As per the data, India in the year 2022 accounting for 46 per cent of the global real-time payments, adding that the digital payment transactions in India is more than the other four leading countries combined. In digital payments, India has been witnessing new milestones, …

India tops world ranking in digital payments in 2022, leaves behind THESE countries including China
1 year, 6 months ago

India tops world ranking in digital payments in 2022, leaves behind THESE countries including China

India TV News  

Digital India: A latest data from MyGovIndia suggested that India has topped the list of five countries in digital payments, with 89.5 million digital transactions in the year 2022. As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the …

India expected to become 50% non-cash economy in consumption by 2026
1 year, 8 months ago

India expected to become 50% non-cash economy in consumption by 2026

Firstpost  

India is expected to become a 50 per cent non-cash economy in consumption in the next three years. According to a new report, the person-to-merchat digital transactions could reach over $1.5 trillion by the Financial Year 2026. Saurabh Trehan, Partner and Leader of the Financial Services practice, Bain & Company, said, “With the current technical and financial momentum, India is …

India’s digital public infrastructure, catching the next wave
1 year, 9 months ago

India’s digital public infrastructure, catching the next wave

The Hindu  

India’s digital public infrastructure, loosely the India Stack and more, is a marvel of our times, shaped in a unique partnership between governments, regulators, the private sector, selfless volunteers, startups, and academia/think tanks. Engendering sustained collective action at scale between so many disparate entities itself is magical and the outcomes are India’s answer to Web 3, perhaps even superior in …

RBI asks banks, NBFCs to promote digital payments
1 year, 10 months ago

RBI asks banks, NBFCs to promote digital payments

The Hindu  

The Reserve Bank of India has unveiled “Har Payment Digital” as part of Digital Payments Awareness Week 2023 to make every person in India a user of digital payments. Stating that payment systems in India have witnessed over 1000 crore transactions every month since December 2022, he said “This speaks volumes of the robustness of our payments ecosystem and acceptance …

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment
1 year, 10 months ago

Har Payment Digital: RBI launches mission to make every citizen a user of digital payment

India TV News  

Reserve Bank of India governor Shaktikanta Das launched the "Har Payment Digital" mission on Monday, as part of the Digital Payments Awareness Week 2023. Image Source : PIB TWITTERHar Payment Digital: RBI launches mission to make every citizen a user of digital payment The HPD mission will run until the period of Vision 2025, to convert non-users into users of …

Govt Saved $27 Bn In Schemes Using Direct Benefit Transfer, Says Economic Affairs Secretary
1 year, 10 months ago

Govt Saved $27 Bn In Schemes Using Direct Benefit Transfer, Says Economic Affairs Secretary

News 18  

India saved over USD 27 billion in key central government schemes through direct benefit transfer as it is swift and eliminates corruption, Ajay Seth, Secretary of Department of Economic Affairs said on Sunday. Delivering his keynote address at the second meeting of the Global Partnership for Financial Inclusion, Seth said Digital Public Infrastructure, created by India is inherently scalable, interoperable, …

Data | India shifted from cheques to online money transfers faster than Singapore, US and Canada
1 year, 10 months ago

Data | India shifted from cheques to online money transfers faster than Singapore, US and Canada

The Hindu  

On Tuesday, the cross-border connectivity between India’s Unified Payments Interface and Singapore’s PayNow was launched. Chart 3 This shows that India’s transition to credit transfers from cheques as a preferred mode of cashless payment was quicker than in many other countries. It shows cheques and credit transfers as a share of cashless payments for select countries in 2021. India’s cheque: …

Budget 2023: An Effort To Enable Environment for Inclusive Growth of Fintech, Payments Sector
1 year, 10 months ago

Budget 2023: An Effort To Enable Environment for Inclusive Growth of Fintech, Payments Sector

News 18  

Union Finance Minister Nirmala Sitharaman on February 1 presented the first Budget of ‘Amrit Kaal’, which envisions a prosperous and inclusive India, as we move towards 100 years of independence. Increase in outlay is also important to incentivise and compensate financial institutions and payment service providers as they absorb losses to create and maintain large infrastructure for the payment rails …

Digital transactions to soon exceed cash in India: PM Modi
1 year, 10 months ago

Digital transactions to soon exceed cash in India: PM Modi

Deccan Chronicle  

New Delhi: As people take to India’s real-time payment mechanism, the Unified Payments Interface, Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash payments in the country. Besides, the linkage will also help migrant workers, professionals, students and their families as well," Mr Modi said, while launching the service at a virtual event through …

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records
1 year, 11 months ago

'Net' Gains: Digital Transactions in India in 2022-23 Break All Records

News 18  

The number of digital transactions in India in this financial year is at a historic high, zooming past the last fiscal’s figure with still three months to go. The latest government data reveals that 9,192 crore digital transactions have been done in the country in this financial year till December 31, 2022. The total value of digital transactions in India …

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu
1 year, 11 months ago

Centre made cash transfer of ₹2.2 lakh crore under PM-KISAN scheme: FM Nirmala Sitharaman - The Hindu

The Hindu  

The government made cash transfer of ₹2.2 lakh crore under the PM-KISAN scheme, Finance Minister Nirmala Sitharaman said on February 1. Presenting the last full Union Budget 2023 of the second term of the BJP-led NDA government ahead of the general elections in 2024, she said the mission of the government is to achieve knowledge-driven economy. Institutional credit in agriculture …

Union budget 2023: FM Sitharaman lauds strides made in digital payments
1 year, 11 months ago

Union budget 2023: FM Sitharaman lauds strides made in digital payments

Hindustan Times  

The Indian economy has become more formalised as witnessed by a significant enhancement in digital payments, Union finance minister Nirmala Sitharaman on Wednesday said during her budgetary speech in the Parliament. She commended the enhancement in brought in digital payments over the years and noted that around 7,400 crore digital payments worth ₹126 lakh crore were made through UPI in …

Budget 2023: FM Sitharaman's past key budget announcements on banking
1 year, 11 months ago

Budget 2023: FM Sitharaman's past key budget announcements on banking

Hindustan Times  

Finance Minister Nirmala Sitharaman on February 1 will present the Union Budget for the fiscal year 2023-24. Budget 2019-20 In her first Union Budget as Finance minister, Nirmala Sitharaman announced to re-capitalise Public Sector Banks of ₹70,000 crore to boost credit which was part of previously announced ₹3 lakh crore capital infusion. Budget 2021-22 The budget of 2021-22 proposed setting …

Budget 2023 Expectations: These Initiatives Can Boost Fintech Sector
1 year, 11 months ago

Budget 2023 Expectations: These Initiatives Can Boost Fintech Sector

News 18  

India is fast developing a robust and vibrant ecosystem for the financial technology industry. The government has undertaken several initiatives to support the burgeoning fintech industry in recent times, and it is felt that the following measures in the upcoming Budget 2023 will provide further fillip to the fintech industry and upscale the Digital India initiative: Investments for the Development …

Digital currency to further bolster digital economy, make payment system more efficient: RBI
1 year, 11 months ago

Digital currency to further bolster digital economy, make payment system more efficient: RBI

India TV News  

RBI Executive Director Ajay Kumar Choudhary on Wednesday the digital currency will further bolster the digital economy, make the payment system more efficient and reduce the cost involved in physical cash management. Central Bank Digital Currency The RBI has already launched pilots of CBDC in wholesale and retail segments last year. He said the key motivation for exploring the issuance …

India records more digital payments than US, UK, Germany & France: Vaishnaw
1 year, 11 months ago

India records more digital payments than US, UK, Germany & France: Vaishnaw

Hindustan Times  

Union minister Ashwini Vaishnaw on Friday said India's digital payments transactions last year exceeded those of the combined digital payments of United States, United Kingdom, Germany and France, ANI reported. "In December 2022, the digital payments transactions amounted to $1.5 trillion annualised basis. If you compare total digital transactions in US, UK, Germany and France and combine them, India's figures …

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments
1 year, 11 months ago

Centre earmarks ₹2,600 crore as incentive for banks to promote digital payments

The Hindu  

The Union Cabinet approved an outlay of ₹2,600 crore to promote payments using RuPay cards and the Unified Payments Interface, Union Minister Bhupendra Yadav announced on Wednesday. Banks will be provided this incentive money to promote such digital payments, the Cabinet said in a press release. “The scheme will also promote UPI Lite and UPI 123PAY as economical and user-friendly …

Digital rupee not the magic bullet Central government is hoping for
2 years ago

Digital rupee not the magic bullet Central government is hoping for

The Hindu  

Published : Dec 29, 2022 10:30 IST In recent times, the financial world has been in a state of excitement after the Reserve Bank of India announced the launch of the pilot for a retail digital rupee on December 1. Crypto gamble It is to be noted that with the threat of cryptocurrency, which began with Bitcoin in 2009, now …

India's digital rupee fails to excite interest, bankers say
2 years, 1 month ago

India's digital rupee fails to excite interest, bankers say

The Hindu  

A month into India's pilot project for using an official digital rupee for inter-bank and institutional transactions, stakeholders are seeing no benefits, several bankers said. Indeed, the e-rupee, one of several central bank digital currencies being tried around the world, had a drawback, they said: each trade using it had to be settled individually, whereas trades in the established interbank …

Time is right for a digital rupee
2 years, 1 month ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

Six years since demonetisation, cash with public at record high of ₹30.88 lakh crore
2 years, 2 months ago

Six years since demonetisation, cash with public at record high of ₹30.88 lakh crore

The Hindu  

Currency with the public has jumped to a new high of ₹30.88 lakh crore as of October 21, illustrating that cash usage is still robust even six years after the demonetisation move. At ₹30.88 lakh crore, the currency with the public is 71.84% higher than the level for the fortnight ended November 4, 2016. As per the fortnightly data on …

How will digital rupee rollout impact physical currency?
2 years, 2 months ago

How will digital rupee rollout impact physical currency?

Firstpost  

The Reserve Bank of India has launched its pilot project on the Central Bank Digital Rupee starting, 1 November. Here’s what the experts told CNBC TV18 The Reserve Bank of India has launched its pilot project on the Central Bank Digital Rupee starting November 1. It is widely anticipated that the digital rupee ideated by RBI will be generated through …

Shift from phone banking to digital banking put India on sustained growth path: PM
2 years, 2 months ago

Shift from phone banking to digital banking put India on sustained growth path: PM

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi on Sunday attributed India's sustained economic growth to the efforts of the BJP government to replace pre-2014 'phone banking' with 'digital banking'. The economic progress of a country is directly linked to the strength of its banking system, he said after dedicating 75 Digital Banking Units to the nation. The banking sector has become …

IMF hails India’s digital cash transfer scheme as a ‘logistical marvel’
2 years, 2 months ago

IMF hails India’s digital cash transfer scheme as a ‘logistical marvel’

Op India  

On Wednesday, the International Monetary Fund said that India’s digital cash transfer scheme and several other social welfare programs are a ‘logistical marvel’. #WATCH | Paolo Mauro, Deputy Director of International Monetary Fund speaks on India’s digital cash transfer scheme, terms it to be a “logistical marvel, seeking to help people at low‑income levels, reaching hundreds of millions of people.” …

Explained: How RBI is using technology to operationalise e-rupee? 10 points
2 years, 3 months ago

Explained: How RBI is using technology to operationalise e-rupee? 10 points

Hindustan Times  

The Reserve bank of India on Friday came up with a concept note detailing plan of introducing its own digital currency - the Central Bank Digital Currency. RBI is planning to start the e-rupee project on a pilot basis The RBI in its 51-page concept note detailed various aspects including the technological measures to operationalise its electronic currency, its underlying …

There Is A Fintech Revolution Happening In India, And These Are The Factors Driving The Industry
2 years, 3 months ago

There Is A Fintech Revolution Happening In India, And These Are The Factors Driving The Industry

ABP News  

India has the highest adoption rate of any country in the world when it comes to financial technology, and this has ushered in a new age for the sector. Fintech's meteoric rise can be attributed to a confluence of factors, including technological advancements, altering social mores, and a regulatory climate that encourages innovation. The India stack and other forms of …

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