Digital Financial News

G20 task force on digital public infrastructure (DPI) has suggested that countries use plug-and-play models to deploy certain DPI while ensuring their sovereignty and data ownership, exhorting them to make their existing infrastructure universally applicable for common good. Releasing the task force's report on Monday, India's G20 sherpa Amitabh Kant said the country's fast-growing DPI has enabled it to achieve in nine years what would have taken it 50 years to realise without the DPI. India's push for interoperable DPI during its G20 presidency last year had faced resistance from developed countries, who feared it could undermine the growth of global private payments entities. The plug-and-play method mooted by the task force appears to be aimed at addressing this fear.

In a significant political and crypto development, former President Donald Trump is about to name his Vice President elect. This decision has sent waves through both sectors. As the MAGA movement accelerates, the MAGA VP ($MVP) token is positioned to become a significant player in this historic event.

Thailand’s prime minister has said that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy

Over the years I have started reading the inside pages of newspapers more carefully, given that the news that’s published on a front page is typically available on digital media much before it is published the next morning.

EU) are expected to hold the next round of talks for the proposed free trade agreement, which aims at boosting commerce and investments, in September, an official said. Joint Secretary in the Department of Commerce Darpan Jain said that the eighth round of talks was concluded on June 28. He said that discussions were held on all 21 chapters in the meeting and progress was made in number of areas such as government procurement, digital trade, technical barriers to trade, goods, and market access. «We plan to hold more inter-sessional meetings in July and August and we intend to have another round (of talks) in the last week of September,» Jain told reporters here.

health insurance companies in India, at least 33 have joined the National Health Claims Exchange (NHCX), a centralized platform developed by the government for the exchange of insurance claims-related information, ToI reported on July 15. This new system aims to expedite the insurance claims process and make it more transparent, with real-time access to claims settlement status by the Insurance Regulatory Development Authority of India (IRDAI). Citizens will also be able to monitor their insurance claim status through their mobile devices, the report (by Durgesh Nandan Jha) said. Currently, insurance claims are processed through multiple platforms, leading to delays. The implementation of NHCX will streamline this process. According to government sources, some companies have already started trialing the NHCX for claims processing, with an official launch expected soon. A senior official of the National Health Authority (NHA), which developed the centralized platform, elucidated, «Citizens will also be able to see the status of their insurance claim through the mobile.»

The growth of stablecoins has been a key trend in crypto this year. As the number of stablecoin holders increased by over 15% in 2024, nearing 100 million, several new projects with transformative technological features are entering the market.

The Russian Ministry of Finance is considering allowing qualified investors to trade digital currencies on licensed exchanges, such as the Moscow Exchange and St. Petersburg Exchange.

Tecnimont, together with sustainable technology solutions arm Nextchem, has been awarded an engineering design study (first phase of the front-end engineering design) for a green ammonia plant to be located in India. The contract was awarded by Sembcorp Green Hydrogen India. Tecnimont secured the contract through its Indian subsidiary Tecnimont Pvt Ltd (TCMPL). The study will leverage Nextchem’s digital tool ArcHy (Architecture of Hydrogen systems), to overcome the challenge of the intermittency of renewable power usage, resulting in capex and opex efficiency of the plant lifecycle, the company said in a statement.

NEW DELHI : Insurance approval delays during hospital admissions and discharges have long been a bane for patients, primarily due to fragmented front-end systems and manual intervention at hospitals. Imagine a unified platform where all hospitals, insurance companies, and stakeholders come together to digitize and streamline this process. Enter the National Health Claims Exchange (NHCX), an initiative developed by the National Health Authority (NHA), the Union health ministry, and the Insurance Regulatory and Development Authority of India (Irdai).

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Russia may finally be set to legalize Bitcoin (BTC) and altcoin mining after a State Duma committee approved a bill for a vote later this month.

airline has noticed this as a problem over the past few weeks and has started working on technological solutions to provide more informative and precise responses, to queries and complaints by travelllers, which would aim to address their concerns and anxiety about a delay, cancellation, or any other grievance. “In our evolution of implementing skai (AI chatbot) into various use cases, this is a use case we have just kind of started looking at, and over the next year we will make an attempt to help the humans responding on social media, get them augmented with artificial intelligence.

The cryptocurrency market, led by Bitcoin, has been characterized by extreme volatility and speculation.

According to the MSME Ministry's FY23 annual report, MSMEs play a crucial role by contributing approximately 30% to India's GDP. While the market is flourishing, MSMEs face business challenges such as financial planning, pricing strategy, legacy methods, and digitalization that affect their overall functioning. During these challenging times, they require expert guidance to address these issues, face them head-on, and move upwards and onwards. Seasoned business leaders can act as mentors and provide valuable insights into market trends, customer behavior, and competitive strategies.

Uber have approached the finance ministry, Goods and Services Tax Council and the Authority for Advance Rulings (AAR) seeking clarity on whether their business was liable to tax or not. The move follows a decision from the Karnataka AAR that held that Bengaluru-based direct-to-driver app Namma Yatri was not liable to pay GST. The AAR, in the case of Juspay Technologies that runs the Namma Yatri mobility platform, relied upon the dictionary meaning of the word «through» and held that the mere act of linking service providers with customers through a digital platform did not constitute a supply of service and thus not liable to tax. Section 9(5) of the Central Goods and Services Tax Act, 2017 specifies that liability of GST on certain services has to be discharged by an electronic commerce operator if the services are supplied 'through" its platform. The Karnataka AAR held that as Namma Yatri was merely connecting the auto driver and passenger and its role ended on such connection, the supply was happening independent of its online application and, accordingly, Section 9(5) did not apply on it.

GTPL Hathway is planning to invest ₹100 crore in its headend in the sky (HITS) service, which is slated to go live in Q1 FY26 with a capacity to provide up to 900 TV channels, a senior company official told ET. The company, which received a HITS licence from the Ministry of Information and Broadcasting (MIB) on Friday, will undertake its future subscriber expansion through HITS, the official added, requesting anonymity. NXT Digital, owned by Hinduja Group, is the sole provider of integrated services that include both HITS and cable TV services. HITS is a satellite-based platform that combines features of cable TV and DTH.

Raymond Lifestyle (RLL), the demerged entity of the ₹9,286-crore conglomerate Raymond, has appointed some top executives of India Inc as independent directors ahead of a possible listing next month. Vineet Nayar, former chief executive of HCL Technologies, GC Chaturvedi, former chairman of ICICI, Anisha Motwani, board member of Abbott, and Raymond director Dinesh Lal have been appointed as independent directors. The appointments were made earlier this month, people aware of the development told ET.

In this digital world, many investment opportunities are arising to generate passive income. From those available methods, cryptocurrencies and blockchain technology becoming a promising way to earn. Passive income is one of the robust ways to grow your assets with minimal effort.

procedures for exempted establishments and improving its own services has led 27 establishments to surrender their exemption under the Employees’ Provident Fund Organisation in the last two years, adding about 30,000 employees and Rs 1688.82 crore to the retirement fund body. As of 31st March 2023, there are 1002 exempted establishments managing the provident fund corpus of Rs 3,52,000 crore of 31,20,323 members. Establishments that wish to manage the provident fund (PF) corpus of their employees need to seek exemption under Section 17 of the EPF Act. This allows EPFO to permit them to manage their own PF Trust without making statutory contributions.

RBI ban on tech related loopholes, the newly appointed chief of Kotak Mahindra Bank, Ashok Vaswani in his maiden annual letter to shareholders has said that technology will be at the centre of the lender’s efforts to transform and scale further. Addressing the RBI order Vaswani added that the bank had much more to do to leverage technology. “It is evident that we have more to do… Changing customer expectations, the dramatic pace of business growth and the emerging risk landscape have meant that we have to move at a much faster pace,” Vaswani said. “We are absolutely committed to further enhancing our resources and commitments in this area and I am very confident that collectively, as a team – we will deliver and use this as an opportunity to leapfrog. It is also very clear that technology is going to be at the centre of our efforts to transform and hence, scale.” In April this year, the banking regulator had directed Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and banned it from issuing fresh credit cards.