Digital Financial News

The Brazilian Central Bank has uploaded a large collection of central bank digital currency (CBDC)-related documents to GitHub – as the nation edges closer to a digital real rollout.

DigiLocker. So could be Employees’ Provident Fund Organisation statements and Mahatma Gandhi National Rural Employment Guarantee Act job cards, as the government’s online document repository is up for a major expansion. “Documents of income tax returns, EPFO statements, and MGNREGA job cards will soon be available on DigiLocker… Making passports and voter IDs available is also a work in progress,” a government official told ET.

NGO challenging the constitutional and legislative validity of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023 in relation to online gaming. It went on to state that the Rules are beyond the legislative competence of the Union Government as the Constitution gives exclusive powers to states to legislate on ‘gambling and betting’.

DBS is the first foreign bank in China to embed the CBDC into its merchant payments portfolio, processing transactions and providing consolidated merchant reports with itemised e-CNY transactions via its business banking platform DBS Ideal.Ginger Cheng, CEO of DBS Bank (China), says: "We received strong interest from several clients for the solution since its launch, and we are pleased to have completed the first e-CNY collection for a client - a catering company in Shenzhen. By seamlessly integrating a CBDC collection and settlement method into our clients’ existing payment systems, this will help position their business for a digital future where consumers in China use e-CNY for their daily activities."e-CNY usage in China has grown steadily since its pilot launch in April 2020.

Google has confirmed that it is utilizing scraped web data to train its artificial intelligence (AI) systems, according to an update to its privacy policy. The search giant stated that its AI services, including Bard and Cloud AI, may be trained using publicly available data obtained from the web. Google spokesperson Christa Muldoon emphasized that the company incorporates privacy principles and safeguards into the development of its AI technologies, in line with its AI Principles.

The crypto derivatives exchange Bitget has launched a new crypto lending program that will let users stake their own coins in exchange for loans in another.

Havells India, with a target price of ₹1,453, representing a 12.7 per cent increase over the stock's closing price of ₹1,289.05 on July 5. Shares of Havells India gained over 1.5 per cent to touch an intra day high of ₹1,293.65, setting 0.9 per cent higher at ₹1,289.05 apiece during the trading session on Wednesday.

₹250 crore per instance for data breaches, which can be raised up to ₹500 crore by the Data Protection Board that will be constituted as an appellate body. The penalties will be decided on a case-to-case basis, depending on the severity, extent of harm or loss, scale and number of people impacted by the breach, and the clauses that have been specified in the bill. The bill is likely to be presented in the upcoming monsoon session of Parliament.

NEW DELHI : Demand for steel in India is expected to remain robust this financial year with consumption growing in double digits on the back of infrastructure development, rapid urbanization and supportive policy reforms, Tata Steel chairman Natarajan Chandrasekaran said at the company’s annual meeting of shareholders on Wednesday. “The Fiscal Year (FY) 22-23 witnessed some intense geo-political and economic volatility. This, in turn, has created constant disruptions in the global supply chains creating a bottleneck, with the global steel industry experiencing a ripple effect," Chandrasekaran said.

₹500 crore on persons and companies that fail to prevent data breaches including accidental disclosures, sharing, altering or destroying personal data. The Narendra Modi-led government had approved the draft of Digital Personal Data Protection (DPDP) Bill 2023.

NEW DELHI : Economists project that retail inflation will hover around 5% in the July-September and October-December quarter of the current financial year due to skyrocketing prices of food and some vegetables. In May, the consumer price index-based inflation eased to 4.25% from 4.70% in April. Cereals and pulses inflation, however, were high at 12.7% and 6.6%, respectively.

NEW DELHI : Exports by Indian sellers to Amazon marketplaces the world over are on track to surpass $8 billion in 2023, said a top executive at the company. The business update comes over a year after the global e-commerce marketplace had doubled targets to achieve $20 billion in cumulative e-commerce exports from India by 2025. The update is part of Amazon Global Selling, the retailer’s e-commerce exports program, that has grown to more than 1.25 lakh Indian exporters since its launch in 2015.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Adani Wilmar said on Wednesday its first-quarter sales slumped 15% as a sharp fall in edible oil prices eclipsed strong consumer demand for its products. Edible oil prices have fallen more than 50% in less than a year, hit by lower consumer demand in developed economies, easing of supply in the Black Sea region and strong production of oilseeds, the joint venture between Adani Group and Singapore's Wilmar Group said.

BharatPe on Wednesday said that it has roped in former Razorpay executive, Pankaj Goel, as its chief technology officer (CTO). Prior to joining BharatPe, Goel was the head of payments engineering at payments infrastructure provider Razorpay. As a part of his new role, Goel will be leading the technology function at BharatPe and spearhead innovation strategy across its group companies.

demand trends in the FMCG sector remained «stable» but the anticipated pickup in rural demand remained elusive in the June quarter, according to Marico. The company — which owns Saffola, Parachute, Hair & Care, among other brands — also said that consumer demand from rural India will recover for the rest of the year as inflation is moderating.

Now in its fourth edition, ETPWLA 2023 is India's most prestigious awards programme, recognising and honouring present-day and next-generation women leaders who embody excellence in business, entrepreneurship, innovation, and leadership. The list of shortlisted nominees for ETPWLA 2023 represent exceptional women leaders, trailblazers, and changemakers who have made a significant impact and achieved critical milestones in their respective fields over the past year.

Twitter is not the right place to seek information during an emergency, Dutch politicians and a prominent online group said on Wednesday, following an incident in which citizens were directed to the platform for updates during a large storm. «We find it problematic that the government depends on Twitter for sharing crucial information,» lawmaker Nico Drost's office said in emailed remarks to Reuters, citing accessibility, accountability and reliability issues.

New Delhi: Demand for steel in India is expected to remain robust over the current fiscal year with consumption growing in double digits on the back of infrastructure development, rapid urbanisation and supportive policy reforms, Tata Steel's Chairman, Natarajan Chandrasekaran said at an Annual General Meeting of the company.   “The Fiscal Year (FY) 22-23 witnessed some intense geo-political and economic volatility. This in turn has created constant disruptions in the global supply chains creating a bottleneck, with the global steel industry experiencing a ripple effect.

Bhutan, a South Asian kingdom nested in the Himalayan mountains, has recently revealed a secret that stunned the international financial market: the country has been quietly mining crypto for years without telling a soul - including its own citizens.

₹1,200 crore investment led by Multiples Private Equity (PE) along with its co-investors including International Finance Corporation (IFC) to expand access to capital for India’s micro, small and medium enterprises.  The deal comprises of a primary issuance of Rs 400 crore and provides a part exit to early investors, British International Investment (BII) and Lok Capital, the lender and Multiples PE said in a statement.  While Multiples PE, along with co-investor World Bank’s private investment arm IFC and others, will be infusing ₹1,050 crore; Avendus Future Leaders Fund also participated in the transaction investing Rs 150 crore.  Veritas proposes to use the fresh capital to enter new markets and strengthen its new product lines, including affordable housing loans.  “The fresh capital raised will provide significant runway for growth, help deepen our existing offerings and expand into the affordable housing space. We strongly believe these partnerships will further catalyse our mission to serve the underserved," said D. Arulmany, MD & CEO of Veritas.