India’s digital rupee CBDC, officially stepped into its retail trial period in four cities — New Delhi, Mumbai, Bengaluru, and Bhubaneswar, on Thursday, December 1. The State Bank of India, ICICI Bank, Yes Bank, and IDFC First bank are the lenders that are participating in these trials, and upon completion,…
The Reserve Bank of India (RBI) is expanding the use cases of its digital rupee CBDC. Starting December 1, the testing for the Indian CBDC for retail purposes will kickstart in select regions in the country. Built on blockchain, the digital rupee is a virtual representation of India’s fiat currency…
Indian food aggregator Zomato said on Friday its co-founder, Mohit Gupta, had resigned. The news comes days after the online food delivery platform reported narrowing of its consolidated net loss to Rs. 250.8 crore for the second quarter ended September 2022. Meanwhile, the company’s consolidated net loss stood at Rs. 434.9 crore in…
India and Zimbabwe are set to face off against each other in the final round of Super 12 matches of the ICC Men’s T20 World Cup. As it stands, Zimbabwe has been eliminated from the tournament, whereas India sits at the top of Group 2 with 6 points. However, India…
Chinese smartphone maker Xiaomi is winding down its financial services business in India, according to a recent report, citing sources familiar with the matter. The company recently pulled its Mi Pay and Mi Credit apps in India from the local Play Store and its own app store, the report from TechCrunch…
The ED on Friday said it has frozen fresh deposits worth Rs. 78 crore following raids at the premises of payment gateway Razorpay and some banks as part of an ongoing money laundering probe against the alleged illegal operations of loan apps “controlled” by Chinese nationals. The searches were carried…
India, where rules and regulations around the crypto sector are still under drafting, is witnessing a big boom. Around 11 percent of the world’s total Web3 talent resides in India, the nation’s primary non-government tech trade body Nasscom said in a recent report. Titled ‘The India Web3 Startup Landscape, An…
With an objective to ensure connectivity to every corner of the country, the government has approved setting up of 25,000 new towers in the next 500 days with an investment of Rs. 26,000 crore, Union Minister for Communications, Electronics and Information Technology and Railways Ashwini Vaishnaw has said. Vaishnaw made…
Ride-hailing company Uber Technologies has asked its drivers in India to ensure backseat seatbelts in their vehicles are accessible to passengers and they work, days after a local business tycoon died in a crash involving his private car. The move comes amid a growing road-safety push in India, the world’s…
India recently secured the fourth position on the 2022 Global Crypto Adoption Index compiled by blockchain research firm Chainalysis. These ranks numbered all the countries based on their varied uses of different crypto-services and India outranked US and Russia on the scale that testified to the growing adoption of crypto…
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