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touchscreen MacBook began with a patent application in 2021, which included references to such technology. This was followed by another filing in 2023.

digital transactions are fairly seamless. Now, the Reserve Bank of India wants to expand the country’s unified payments interface, or UPI, to lending: The central bank’s governor has repeatedly promised that a “unified lending interface” will soon be rolled out. That carries great potential — and not a little risk. India’s model for financial interconnectedness is based around what it calls “digital public infrastructure.” The idea is simple: The government, or a closely regulated quasi-public entity, invests in, manages, and pays for the system through which digital transactions take place. Businesses can create apps that use this infrastructure; interoperability is built in, so those apps must compete on cost and quality rather than on the size of their network. Consumers can decide how much of their information they are willing to share with specific apps or for specific transactions, and theoretically the seller’s access to private data is neither permanent nor very deep. The Indian IT whizzes who designed the system insist it avoids the worst of the US model (which is fragmented, insecure, and expensive), European systems (which are overregulated, lecture to business, and stifle innovation) and the Chinese network (which does not privilege privacy or allow for accountability to civil society).

RBI is poised to roll out its next major financial innovation, a technology platform that enables 'frictionless credit'. The platform, proposed to be called Unified Lending Interface (ULI), aims to facilitate a seamless and consent-based flow of digital information, including land records, to lenders from multiple data service providers. This, Das added, would reduce the time required for credit appraisal, particularly for smaller and rural borrowers. Coincidentally, his statement comes at a time when the account aggregator (AA) framework — created by the market-led industry alliance Sahamati and launched three years ago by RBI — has logged a record 100 mn consents. AA is using a framework like ULI to shift away from collateral-based lending to one premised on cash flows, addressing the formal credit needs of millions of underserved Indians. In short, India is poised to roll out another initiative to democratise access to credit. In the last decade, India banked the unbanked, whereby 80% of adults today own a bank account. Now, by seeking to enable universal lending, RBI is breaking down barriers to provide financial resources to a broader spectrum of borrowers. The impending convergence of fintech and AI will only accelerate this trend of serving the underbanked.

AI startup OpenAI said on Thursday its chatbot ChatGPT now has more than 200 million weekly active users, double the number it had in the last fall season. ChatGPT, launched in 2022, can generate human-like responses based on user prompts and had 100 million weekly active users, OpenAI CEO Sam Altman had said in November. OpenAI said 92% of Fortune 500 companies are using its products and the use of its automated Application Programming Interface, or API, which allows software programs to talk to each other, has doubled since the launch of ChatGPT-4o mini in July.

secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility. In the UPI block mechanism, clients can trade in the secondary market based on blocked funds in their bank accounts, instead of transferring the funds upfront to the trading member. The facility is currently optional for investors, and not mandatory for Trading Members (TMs) to offer as a service to clients.

Over the course of human history, some technologies have had a more profound impact than others. Arguably, fire was the first ‘technology’ tamed by humans, which then led to agriculture, the printing press, electricity, computing, the internet and so on.

Infosys co-founder and chairman Nandan Nilekani on Wednesday said startups powered by India's digital public infrastructure are valued at $100 billion. Speaking at the annual Global Fintech Fest here, Nilekani said the very idea while building an Aadhar or unified payments interface (UPI) was to build the rails that could be used by the private sector or entrepreneurs to come out with innovative offerings. «The estimate is that the market value of startups on top of India's DPI is about $100 billion,» he added. He also said the future of finance will be a concept he and some people call "Finternet".

yaar," she replied. “Oh, get up and smell the coffee." Mairaa took a few seconds to register the smell of freshly brewed coffee and then woke up: “That’s nice," she said, taking a sip. “And why are you glued to your phone at 7am?" “I was reading this very interesting piece on livemint.com," said Vivaan, an engineer working with a software company.

New Delhi: The government plans to launch a dedicated portal for land acquisition for coal mining, said two people aware of the development, citing the biggest pain point in India’s push for the fossil fuel. The coal ministry portal will digitize records in the land acquisition process, including approvals for acquisitions and disbursal of compensation to the displaced. "The land acquisition process will be completely digitized now with the 'Coal Land Acquisition and Management Portal, CLAMP'.

Mint. Heph, which offers services ranging from front-end customer interfaces to back-end systems, goes live with its website on Monday, 26 August. Ankit Agrawal, founder and chief executive officer (CEO) of InsuranceDekho, said the new affiliate company has been bootstrapped.

On Monday, Reserve Bank of India governor Shaktikanta Das announced the launch of its Unified Lending Interface (ULI), a tech platform aimed at “frictionless credit", especially for those who find it hard to borrow. “Just as UPI transformed the payments ecosystem, we expect that ULI will play a similar role in transforming the lending space in India," he said.

settings won't host any soon. Windows Control Panel is being sent to the tech graveyard by Microsoft. Microsoft has officially announced that a new Settings app will replace the long-standing Windows Control Panel. The confirmation was found in a Windows System Configuration Tools support document. The document discusses the various ways users can personalize their graphical user interface experience, but it ends with a sombre note regarding the Control Panel that the Control Panel is in the process of being deprecated. The Settings app, which debuted in Windows 8 lacked many of the features of its predecessor, has taken its place. With Windows 10, things got better, and with Windows 11, Microsoft kept adding features to the app. While the Control Panel still exists for compatibility reasons and to provide access to some settings that have not yet migrated, users are encouraged to use the Settings app whenever possible, according to Microsoft.

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trigger the crash. However, experts have assured users that this issue does not pose any security threat.

Michael Graw is an experienced freelance finance and tech writer, specializing in cryptocurrencies, decentralized finance, and Web 3.0 since 2018. His work has been featured on various financial news...

Super.Money has officially launched its credit-first Unified Payments Interface (UPI) application for the public, following a successful beta phase that saw over 10 million transactions. The Bengaluru-based startup has completed testing its credit on UPI solution and has introduced a wait-list programme. Super Money’s first credit solution is a Rupay credit card that functions as an interest-bearing wallet on UPI rails, it said. The company is working with Utkarsh Small Finance Bank, IndusInd Bank and Axis Bank to offer various financial services. Prakash Sikaria, founder and CEO of Super.Money, told ET that the company aims to be among the top five players in India’s competitive UPI market. Currently, Walmart-owned PhonePe and GooglePay dominate the market, accounting for over 85% of the 14.4 billion UPI transactions recorded in July.

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Mint explains: BHIM, the payment application developed by NPCI, was among the first wave of apps launched (in December 2016) to facilitate digital payments using the Unified Payments Interface (UPI). BHIM allows users to send or receive money from a UPI payment addressee, or send money to non-UPI based accounts by scanning a QR code. For BHIM, the maximum transaction limit is ₹1 lakh per day for a single bank account linked to the app.

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Most banks and NBFC have maintained an LTV ratio of 60-65% despite regulatory requirement of 75% which gave them a cushion when gold prices fell after the import duty was lowered in the budget. “Early evidence of growth momentum is seen in the disbursements for June 2024, which were 12% higher than the average monthly disbursements in the preceding quarter,” said Ajit Velonie, Senior Director, Crisil Ratings.