Is India ready for the AI revolution? The rapid advancements in artificial intelligence, from generative AI tools to sophisticated machine learning algorithms, are transforming industries across the nation. From fintech's burgeoning use of AI-powered fraud detection to the agricultural sector's embrace of precision farming technologies, the impact is undeniable. This week saw a major breakthrough in indigenous 5G technology development, signaling India's growing prowess in the global tech landscape. But alongside this progress comes the crucial discussion surrounding data privacy, cybersecurity, and the ethical implications of AI deployment. How will India navigate these challenges and harness the transformative power of technology for inclusive growth? Explore the latest developments in Indian tech, from the rise of digital payments to the burgeoning startup ecosystem, and discover how innovation is shaping the nation's future. Stay informed with Abtak.com – your gateway to understanding the tech revolution reshaping India.
India's Unified Payments Interface (UPI) is revolutionizing the country's payment infrastructure by dominating low-value transactions and expanding internationally. With digital payments now making up 99.8% of transaction volume, UPI is becoming the default rail for retail payments, overshadowing traditional methods like debit cards and prepaid instruments. India's digital payment landscape has reached a pivotal stage of structural advancement, with the Unified Payments Interface (UPI) now serving as the backbone of the nation's retail payment system, a new CareEdge report reveals. Digital payments comprise 93% of payment value and an impressive 99.8% of transaction volume as of the first nine months of FY26. The report indicates a noticeable shift away from traditional payment methods such as debit cards and prepaid instruments, which are either stable or declining in use. UPI is replacing these for low-value transactions, while NEFT, IMPS, and NACH continue to be integral for high-value and bulk transactions. The data showcases NEFT's crucial role in mid-to-high-value transactions, with an average ticket size notably higher than that of UPI. As UPI's dominance rises from 73.6% in FY23 to 86% projected in FY26, it asserts itself as the default method for retail payments, overshadowing other systems, which now play a marginal role. The ecosystem is rapidly aligning with the UPI infrastructure, with room for expansion in coming years. UPI stands out as a global frontrunner, powering the world's largest real-time payment system. It handles 49% of global real-time payment volumes and is spreading its reach internationally, according to Tanvi Shah, Senior Director at CareEdge Advisory. Changing consumer habits, spurred by government and RBI digital initiatives, reveal a decline in physical payment tools. Credit cards still thrive for e-commerce and high-value purchases, yet debit cards and Prepaid Payment Instruments (PPIs) are losing traction to UPI in everyday transactions. The Payments Infrastructure Development Fund (PIDF) is boosting digital penetration, particularly targeting Tier-II and Tier-III cities. Meanwhile, IMPS is experiencing growth but remains behind UPI, which offers broader merchant acceptance. NACH transactions are vital for the economy, especially in bulk disbursements, despite a gradual decline in their relative share. UPI, including BHIM, is leading structural growth by increasing its value share, according to the report.
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Air India is also offering additional discounts through various payment offers, so you can enjoy even more savings. Air India has launched its limited-time Black Friday Sale, offering up to 20 percent off base fares for domestic flights and up to 12 percent off on international flights to destinations like the United States, Europe (including the UK), Australia, Southeast Asia, and South Asia. The sale is available exclusively on Air India's official website and mobile apps for iOS and Android. The sale runs from 00:01 IST on 29 November 2024 to 23:59 IST on 2 December 2024. The travel peri ...Read More >
New Delhi, Dec 14 (IANS) The Unified Payments Interface (UPI) has achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, 'showcasing its transformative impact on financial transactions' in India, the Finance Ministry said on Saturday. The Finance Ministry also said that UPI is now accepted in seven countries including France, UAE, Singapore, Sri Lanka, Mauritius, Bhutan and Nepal. The UPI system provides a cheaper and quicker alternative to the available channels of cross-border remittances. UPI has succeeded in increasing financial inclusion and promot ...Read More >
Guwahati, Jun 5 (PTI) The Assam Congress on Thursday demanded a CBI inquiry into alleged illegal stone mining in Karbi Anglong district in violation of a Supreme Court order. Addressing a press conference here, former Rajya Sabha member Ripun Bora also alleged that Karbi Anglong Autonomous Council Chief Executive Member Tuliram Ronghang was allowing illegal activities in the district in nexus with Chief Minister Himanta Biswa Sarma. "Large-scale illegal stone mining is taking place in the hills of Karbi Anglong in violation of the Supreme Court order. The SC had banned mining in and around K ...Read More >
Bengaluru : India's digital commerce landscape is undergoing a seismic transformation, driven by deep rural internet penetration, explosive growth in Direct-to-Consumer (D2C) brands, and the rapid adoption of Artificial Intelligence (AI) in the retail sector. According to the Made for Bharat, Powered by AI: The New Age of Commerce Report by Shiprocket and KPMG, with 886 million active internet users 55% from rural India and UPI accounting for 84% of all retail digital payments, Bharat is not just catching up; it's driving the change. The report was launched today at Shiprocket's flagship comme ...Read More >
BHUBANESWAR: Union minister of state (independent charge) for Science and Technology, Personnel, Public Grievances and Pensions Dr Jitendra Singh on Thursday said the Centre would soon roll out a new scheme focusing exclusively on agriculture and allied sectors in 100 districts across the country. Addressing the two-day national conference on good governance here, Dr Singh said, the first-of-its-kind Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY) draws inspiration from NITI Aayog's aspirational district programme and aims at enhancing adoption of crop diversification and sustainable agri ...Read More >
Ranchi (Jharkhand) [India], August 4 (ANI): The Jharkhand government declared a three-day state mourning, starting Monday, following the passing of the state's former Chief Minister and co-founder of Jharkhand Mukti Morcha, Shibu Soren. "In honour of the late Honourable former Chief Minister-cum-Rajya Sabha MP, the State Government has decided to observe 03 (three) days of state mourning from August 4 to August 6," the message from the Jharkhand government read. Also Read | Kerala Shocker: 47-Year-Old Man Dies by Suicide After Failing to Arrange Funds for Son's Engineering College Admission. ...Read More >
VISAKHAPATNAM: Energy Minister Gottipati Ravi Kumar inaugurated Andhra Pradesh's first Super ECBC (Energy Conservation Building Code) compliant building at Sagar Nagar in Visakhapatnam on Friday. Terming it a landmark in sustainable infrastructure, he emphasised the government's commitment to energy efficiency and green design in public facilities. The facility will serve as a national-level training hub for power sector staff. He urged power utilities to expedite 20 lakh rooftop solar connections, targeting 10,000 in each Assembly segment. He reaffirmed nine-hour uninterrupted power for agri ...Read More >
New Delhi, July 7 (SocialNews.XYZ) Fintech companies should leverage their strengths and innovation by not only extending financial services to the masses but also to develop robust solutions against fraud, hacking, and other cyber threats -- making greater use of emerging technologies like artificial intelligence (AI), a top government official said on Monday. With the country's digital payments ecosystem rapidly maturing, its influence has begun to extend beyond national borders, reaching Global South, said Nagaraju Maddirala, Secretary, Department of Financial Services (DFS). Addressing t ...Read More >
NEW DELHI: An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked here on Thursday, officials said. The agency has registered a police FIR about the incident that took place at a farmhouse that was raided by ED officials in the Bijwasan area of southwest Delhi that falls under the Kapashera police station. An Enforcement Officer (EO) suffered minor injuries during the attack. He is continuing with the searches after he was given first aid, officials said. The probe pertains to a case against the PYYPL app. The alleged accus ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and receiving money via mobile numbers or self-QR codes. Industry research indicates that there were over 24 crore feature pho ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. Also Read | How To Activate Your UAN Online? Step-by-Step Guide As EPFO Extends Activation Deadline to June 30, 2025. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and rece ...Read More >
Mumbai: The board of IndusInd Bank has shortlisted three candidates for the role of managing director and chief executive officer - Rajiv Anand, deputy managing director at Axis Bank; Rahul Shukla, group head of commercial and rural banking at HDFC Bank; and Anup Saha, managing director of Bajaj Finance. With the Reserve Bank of India's June 30 deadline nearing, the board is unlikely to consider more contenders, people aware of the development said. The RBI had asked the board to submit three names by the end of this month. IndusInd Bank chairman Sunil Mehta had earlier told analysts that th ...Read More >
NewsVoir Pune (Maharashtra) [India], July 7: For today's go-getters and ambitious entrepreneurs and businesses, accessing quick business finance just got a lot more rewarding. Bajaj Finance Limited has launched 'Loan Utsav', a limited-time festive campaign designed to empower business owners with loans up to Rs. 80 lakh -- and exciting rewards like cashback up to Rs. 3,000 and brand vouchers to go with it. The Loan Utsav offer is valid from June 20, 2025, to July 31, 2025, and is available exclusively through the Bajaj Finserv App. The rewards are limited to the first 200 successful business ...Read More >
Bank holidays in India vary from one region to another. They differ from one state to the next and are often influenced by local festivities, religious events, and regional festivals. Many people in India are unsure about bank holidays. Reserve Bank of India states banks are closed on the second and fourth SaturdaysWith a busy work schedule, many individuals push their bank related work to Saturday to visit the branch and finish transactions. However, it is always confusing to know if this Saturd ...Read More >
New Delhi: When you apply for a credit card, you usually check things like the features, rewards, and which bank is giving you the card. But did you know that there's a situation where the bank really doesn't matter much? It sounds odd, but it's true -- this happens with RuPay credit cards! RuPay cards, made by NPCI, can be connected to UPI. Once you link your RuPay credit card to UPI, you can make payments through UPI just like you would from your bank. The main difference? Instead of the money coming straight out of your account, the payment is charged to your credit card. Then, at the end ...Read More >
MUMBAI: Payment aggregators are feeling the pinch as ICICI Bank has now started charging them for processing purchases made using UPI,Fintechs that route transactions through the bank must now factor in new charges, intensifying the debate on the long-term viability of free digital payments. Payment aggregators with escrow accounts at ICICI will be charged two paise per Rs 100 processed, capped at Rs 6 per transaction. Those without such accounts will pay double - with a Rs 10 cap. Merchants who settle directly into ICICI Bank accounts will continue to receive UPI services at no cost.Firms suc ...Read More >
New Delhi: Delhi govt has prepared a plan under which Delhi Transport Corporation (DTC) bus drivers and conductors will receive regular training, with a focus on ethical values, customer service and safe driving, transport minister Pankaj Singh said on Friday. The move is for improving the public image of DTC buses.The minister mentioned that DTC bus drivers who fail to halt at designated stops or are found speeding will face strict departmental action.Several commuters have complained about the behaviour of DTC bus drivers. There have alleged that the buses often fail to stop at the designate ...Read More >
India is also undergoing a content revolution. In the past five years, short-form video platforms have witnessed a 3.6X surge in daily active users, positioning themselves as serious competitors to mainstream digital entertainment platforms. India's online commerce sector is set to skyrocket from $30 billion in 2020 to $300 billion by 2030, contributing to what is now being dubbed a $1 trillion digital consumer opportunity, according to a new report by Bessemer Venture Partners titled Click, Wat ...Read More >
Mumbai, Jun 28 (PTI) A 70-year-old doctor was cheated by cyber criminals of Rs 3 crore and kept under "digital arrest" for eight days after being accused of involvement in a non-existent money laundering scam, a Mumbai police official said on Saturday. In the month of May, the victim got a call from a person identifying himself as telecom department staffer Amit Kumar, who told her a SIM card had been bought with her personal details for use in criminal activities. "She then got a call from another person who identified himself as Crime Branch officer Samadhan Pawar. He told the victim that ...Read More >
New Delhi, June 28 (SocialNews.XYZ) The Ministry of Power has announced the launch of a task force to conceive the India Energy Stack, a pioneering initiative aimed at creating a unified, secure, and interoperable digital infrastructure for the country's energy sector. The India Energy Stack will play a vital role in integrating renewable energy, enhancing DISCOM efficiency, and delivering transparent, reliable, and future-ready power services, the official statement said. As India charts its path to becoming a $5 trillion economy and advances towards its Net Zero commitments, the power sect ...Read More >
DHARMAPURI: For the third time in the past two months, a wild leopard wandered into a private farmland near Valaithottam village near Palacode and hunted chicken raised by a local farmer. Locals are increasingly distressed and urged the forest department to take steps to relocate the leopard. Over the past few months, there have been several reports of leopard sightings in forest areas near Palacode, particularly in Valaithottam village, near the forest's fringe. There have been two instances when the leopard attacked farmlands, taking away a domestic dog and a chicken. On Saturday, the leop ...Read More >
New Delhi, July 11 (UNI) A latest note titled 'Growing Retail Digital Payments: The Value of Interoperability' presented by International Monetary Fund (IMF) highlighted India as a global leader in making fastest payments which is due to the adoption of UPIs or Unified Payment Interface by a wide number of masses. This report is authored by Alexandar Copestake, Divya Kirti, and Maria Soledad Martinez Peria. The global economic watchdog also stressed the transition from cash to card-based transactions to UPI or Unified Payments Interface since its launch in 2016. Unified Payments Interface is ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
Chief Economic Advisor V Anantha Nageswaran Chief Economic Advisor V Anantha Nageswaran on Wednesday said US tariffs-related challenges will dissipate in the next one or two quarters, and urged the private sector to do more as the country navigates through other longer-term challenges. He attributed the growth slowdown in FY25, which saw a deceleration to 6.5 per cent from FY24's 9.2 per cent, to tight credit conditions and liquidity issues. The right agriculture policies can add 25 per cent to ...Read More >
Hyderabad: Launched on June 1, 2017, T-Wallet holds the distinction of being India's first State-managed digital wallet. Introduced by the Telangana government, the platform was designed to facilitate smooth digital transactions for both government and private payments, transforming how citizens interact with digital financial services. Since its inception during the 2016 demonetization period, T-Wallet has registered 16 lakh users and processed over four crore transactions in its eight-year journey. The platform has steadily grown, becoming a key driver of digital payments across Telangana. ...Read More >
Bengaluru: They were all minors but wanted to make quick bucks to splurge on drugs, cigarettes and snacks. Setting eyes on lone victims, mainly pedestrians near bus stands or isolated streets, three Class IX students and one first-year PU student ganged up for pre-dawn robberies across East Bengaluru for over a year. However their luck ran out when they snatched the valuables of a woman on July 3. Caught by KR Puram police, they are now cooling their heels in jail.On the morning of July 3, a woman in her 50s was walking past Garden City College when two of the juveniles, riding a stolen gearle ...Read More >
Thiruvananthapuram (Kerala) [India], July 9 (ANI): Following the violent protest at Kerala University, a case has been registered against 27 activists of the ruling CPM's Students Federation of India (SFI), including its state secretary P S Sanjeev, who has been named the prime accused, police said. The case also names 1,000 identifiable protesters who have been accused of damaging public property, forcibly entering the university campus, and assaulting police and university staff, police said on Tuesday. Also Read | Nobel Peace Prize 2025: From Mahatma Gandhi to Jawaharlal Nehru, Check Full ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk and Arakashan Road. The Tazia procession will start from Ajmeri Gate and proceed through Pul Paharganj ...Read More >
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Choksi a notice asking him to pay the dues in 15 days. Failure to do so may result in freezing his asse ...Read More >