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Indian banks collaborate to promote E-Rupee adoption

Banks

Several leading banks in India are joining forces to promote the use of the e-rupee, a central bank digital currency introduced by the Reserve Bank of India. In a bid to encourage wider adoption, these banks have introduced various incentives, including cashbacks and rewards, akin to those offered on credit and debit cards. The move […]

India’s HPCL adopts blockchain tech – Why?

India HPCL

Modernizing operations is crucial for businesses to thrive in a digitized world. Keeping pace, India’s petroleum giant, HPCL, has jumped on the blockchain bandwagon, redefining its operations. Here’s a critical look into why HPCL made this move and what it means for the world of oil and gas. Blockchain: Beyond the Buzz Blockchain technology, often […]

HPCL sets the bar high in India with blockchain purchase order verification

HPCL

Hindustan Petroleum (HPCL), one of India’s major state-run oil and gas companies, is set to streamline its purchase order verification process through the implementation of blockchain technology. In collaboration with blockchain software firm Zupple Labs, HPCL is introducing a blockchain system to facilitate the automated validation of purchase orders. This innovative approach seeks to enhance […]

India accused of US dollar-rupee trade manipulation

BRICS' India on the fastest track to growth

India stands accused of a bold move in the global financial arena. Reports suggest that the nation, a key BRICS member, dumped a colossal amount of US dollars in the market. The underlying objective? To prevent the Rupee, India’s native currency, from plummeting to an unfavorable position. This audacious play is causing quite a stir […]

UAE and India Forge Strategic Partnership for Sustainable Industrial Development

UAE

In a significant move towards bolstering their economic and technological ties, the United Arab Emirates (UAE) and India have inked a Memorandum of Understanding (MoU) covering seven critical areas aimed at fostering sustainable industrial development. The collaboration is set to drive joint investments, technology transfers, and the deployment of cutting-edge technologies across industries. The bilateral […]

Could India be the savior of the USD’s dominance?

Could India be the savior of the USD's dominance?

In the dynamic landscape of global finance, where the BRICS alliance is sharpening its talons, aiming at the soft underbelly of the US dollar’s supremacy, India emerges as a beacon of hope for the greenback. While the BRICS coalition might assume they have the unwavering support of all its members in their quest to topple […]

India takes charge: A global crypto database incoming to transform regulation

India increases crypto oversight with new plans to launch global crypto database

India is looking to create an extensive global database covering all crypto exchanges, including those operating on the dark web. This database aims to enhance the capacity for detecting cryptocurrency-related crimes. The launch of this initiative is projected to occur by the end of the current fiscal year, expected in March 2024. The effort is […]

India is a puzzle the U.S. and allies must solve

BRICS' India on the fastest track to growth

In the intricate web of international politics, India stands as a tantalizing enigma. With its booming economy, it’s perceived as the next big marketplace. Simultaneously, as Beijing’s influence surges, India’s strategic significance as a counterbalance to China hasn’t been lost on global powers like the U.S. But beneath this layer of geopolitical dynamics lies a […]

BRICS’ India on the fastest track to growth

BRICS' India on the fastest track to growth

In a rapidly shifting global economic landscape, India stands tall as the crown jewel of the BRICS alliance, racing toward an ambitious growth target. With BRICS experiencing an influx of new members, India isn’t just sitting back but is actively harnessing this windfall, further cementing its position as a global powerhouse. A Rising Power within […]

BRICS’ India makes strong moves to ditch dollar

BRICS' India makes strong moves to ditch dollar

When it comes to international economic power plays, one can never underestimate the steps nations take to maintain their sovereignty and growth. The BRICS nations, an alliance of Brazil, Russia, India, China, and South Africa, have long been viewed as an economic counterweight to the West’s dominance. But in recent times, it’s India’s brazen stance […]

Will India Become the Next AI Hub? Nvidia Collaborates with Reliance and Tata Group

AI Hub

Semiconductor giant Nvidia has forged partnerships with two Indian conglomerates, Reliance Industries and Tata Group. This collaborative effort aims to harness India’s immense talent pool and vast data resources to propel the country into a leading role in AI innovation and exportation. Nvidia, a renowned chipmaker and graphics powerhouse, is set to play a pivotal […]

India inches closer to finalizing cryptocurrency regulations after G20 summit

India Inches Closer to Finalizing Cryptocurrency Regulations After G20 Summit

India is nearing a pivotal decision on cryptocurrency regulations, following extensive discussions at the recent G20 summit. Ajay Seth, Secretary of the Department of Economic Affairs, announced that the country would finalize its stance in the coming months. This development comes on the heels of a G20-endorsed framework for assessing cryptocurrency risks, which has been […]

Tech Industry Cheers G20’s Comprehensive Vision for Digital Infrastructure and Responsible AI

Digital Infrastructure and Responsible AI

In a landmark declaration at the G20 New Delhi Summit, world leaders have come together to outline a forward-looking vision that hinges on the integration of technology, responsible artificial intelligence (AI), and robust digital public infrastructure (DPI). This declaration underscores the importance of international cooperation and governance to ensure the safety, security, trustworthiness, accountability, and […]

India leads G20 in active discussions for global crypto framework

India leads G20 in active discussions for global crypto framework

The G20 countries, under India’s presidency, are actively discussing the creation of a global framework for regulating cryptocurrencies. Indian Finance Minister Nirmala Sitharaman confirmed the ongoing discussions during the Global Fintech Fest on September 5, emphasizing the need for a unified approach to this emerging asset class. India’s role in shaping global crypto policy India […]

Prime Minister Modi and Nvidia CEO Discuss India’s AI Potential in High-Level Meeting

India's AI Potential

Indian Prime Minister Narendra Modi recently engaged in a significant meeting with Nvidia CEO Jensen Huang to explore India’s burgeoning potential in the field of artificial intelligence (AI). The high-level discussion brought to light India’s strides in AI technology and its capacity to harness this innovation for various sectors. In a post on a social […]

Crypto exchange OKX sets sights on India despite regulatory hurdles

Crypto Exchange OKX Sets Sights on India Despite Regulatory Hurdles

Crypto exchange OKX is gearing up to make a bold entry into the Indian market, aiming to hire local staff and explore Web3 applications. This move comes despite the prevailing regulatory uncertainties surrounding cryptocurrencies in the country. OKX’s strategy: Tapping into India’s developer community Haider Rafique, the Chief Marketing Officer of OKX, revealed the company’s […]

India’s digital finance leap: Aiming for the stars

Crypto regulation tightens in India as lawmaker makes this move

As Prime Minister Narendra Modi celebrated India’s remarkable strides in space with its moon landing, another massive leap was taking place closer to home: the finance sector. India is not just evolving, it’s rocketing ahead with audacious reforms that might just reshape the global financial landscape. From cash-reliant chaos to digital dynamo Decades ago, India’s […]

BRICS’ India thinks de-dollarization is not possible

BRICS' India thinks de dollarization is not possible

While global trade sees a flurry of currencies in motion, the idea of completely sidelining the U.S. dollar in favor of others, like the yuan, ruble, or rupee, remains a distant dream. Within the BRICS alliance, India stands firm in its belief that the mighty dollar’s dominance won’t wane anytime soon, despite the appeal of […]

Top Blockchain Dev Companies in India: Stronghold in Blockchain Innovation

EG 990 Top Blockchain Dev companies in Japan

Blockchain development Companies have become pivotal players in driving innovation across industries, harnessing the immense potential of blockchain technology. The transformative impact of blockchain dev companies, renowned for their decentralized and secure nature, is reshaping conventional business practices.  In this era of technological disruption, India has emerged as a dynamic hub for blockchain development. Its […]

China urging the BRICS coalition to evolve into a geopolitical challenger to G7

China urging the BRICS coalition to evolve into a geopolitical challenger to the G7 (1)

China is looking to propel the BRICS coalition of emerging economies into a substantial contender against the G7. Leaders from various developing nations will convene to discuss the most extensive expansion the forum has witnessed in over ten years.  President Cyril Ramaphosa of South Africa has extended invitations to over 60 heads of state and […]

India plans crypto integration in domestic web browsers for secure document signing

Indian banks asked 'to prepare for the future' with AI and blockchain

Indian Ministry of Electronics and Information Technology (MeitY) has unveiled its intention to integrate crypto tokens into an upcoming domestically developed web browser. This strategic move aims to facilitate the digital signing of documents, thereby enhancing secure transactions and digital interactions within the Indian market. The announcement, which coincides with the launch of the Indian […]

India’s Lower House greenlights landmark data protection bill for big tech and AI

India

In a significant move to revamp data compliance regulations for Big Tech, India’s lower house of parliament approved the Digital Personal Data Protection Bill 2023 on August 7. This legislation aims to ease data compliance restrictions for global tech giants such as Google, Meta (formerly Facebook), and Microsoft, as well as local businesses, in their […]

BlackRock introduces India to digital-first investment approach

BlackRock Inches Closer to Launching Bitcoin ETF as Ticker Appears on DTCC List

A groundbreaking step into India’s digital investment landscape is set to be taken by BlackRock, the international investment powerhouse. Partnering with Jio Financial Services (JFS), an affiliate of Reliance Industries, a firm that holds the title of India’s most valued, BlackRock seeks to revolutionize India’s asset management industry by establishing a “digital-first offering.” Expanding horizons: […]

India and UAE sign agreements for trade settlement in national currencies

India and UAE Sign Agreements for Trade Settlement in National Currencies and Strengthened Cooperation

India and the United Arab Emirates (UAE) have solidified their commitment to enhanced economic cooperation with the signing of agreements on trade settlement in national currencies. The Memoranda of Understanding (MoUs) aims to facilitate seamless cross-border transactions and payments between the two countries, promoting greater economic collaboration. Prime Minister Narendra Modi and the Reserve Bank […]

India poised to overtake US as second-largest economy, forecasts Goldman Sachs

India Poised to Overtake US as Second-Largest Economy, Forecasts Goldman Sachs

Goldman Sachs Research has projected that India’s economy is on track to surpass the United States and become the second-largest in the world, trailing only China within a few decades. According to the investment bank’s analysis, India is expected to claim the third position by 2075, with a gross domestic product (GDP) estimated to reach […]

How Can Foxconn’s Exit Be A Fortunate Turn of Events in Disguise For India?

foxconn

Taiwan’s Foxconn Technology has decided to end its partnership with India-focused resources conglomerate Vedanta to manufacture chips, dealing a blow to India’s ambitions of becoming a semiconductor manufacturing hub. The collaboration, valued at nearly $20 billion, aimed to establish a chip plant in Gujarat, the home state of Prime Minister Narendra Modi. Despite this setback, […]

India spearheads cross-border CBDC payment solutions

India spearheads cross-border CBDC payment solutions

Embracing the promise of the digital future, India is paving the way for transforming the landscape of cross-border payments. Through the ingenuity of the Reserve Bank of India (RBI), the nation is steadily making strides in implementing its Central Bank Digital Currency (CBDC), known as the “digital rupee“. India’s ambitious endeavors in the field are […]

Breaking: Indian Tax portal – AIS, now shows Digital Currency Transactions

India

Is crypto taxed in India? Yes, virtual digital assets, or crypto assets, are taxed in India after the Union Budget 2022. For the first time, the government officially termed digital assets, including crypto assets, under “Virtual Digital Assets.”  And now, the Indian Tax Portal, known as the Account Information System (AIS), has undergone a significant […]

Xapo bank makes waves in India, pioneering cryptocurrency banking services

SoftBank backed crypto bank Xapo to expand services in India

Gibraltar-based cryptocurrency bank, Xapo Bank, has set its sights on the vast Indian market, announcing plans to provide banking and cryptocurrency services in the country. With a population of over 1.3 billion, India presents an immense opportunity for Xapo Bank, backed by notable investors, including SoftBank, DST Global Partners, and Ribbit Capital. The move comes […]

PM Modi and OpenAI’s Altman Discuss ChatGPT and Beyond

PM Modi

TL;DR Breakdown OpenAI’s CEO, Sam Altman, recently had a meeting with Indian Prime Minister Narendra Modi, where they discussed various aspects of artificial intelligence (AI) and its implications. The impending Digital India Bill, which will replace the current Information Technology (IT) Act, would regulate AI in India, therefore the conference is important. Altman expressed his […]

JPMorgan uses blockchain for instant USD transfers to India

JPMorgan uses blockchain for 24 7 dollar transfers with Indian banks

In a daring leap into the future of finance, banking giant JPMorgan has announced an alliance with six prominent Indian banks to employ a cutting-edge blockchain platform that will facilitate swift interbank US dollar transfers. This bold initiative is slated to put India’s emerging global financial hub on the fast track to success. JPMorgan breaking […]

Indian banks to embrace AI and blockchain revolution

Indian banks asked 'to prepare for the future' with AI and blockchain

Mahesh Kumar Jain, the Deputy Governor of the Reserve Bank of India (RBI), has urged the country’s banking sector to embrace the transformative potential of artificial intelligence (AI) and blockchain technologies. This advice, underpinning the vital role of innovation in fostering sustainable growth and stability, came during a recent conference organized by the RBI for […]

India-Russia bond tested by Moscow’s growing ties with China

russia

India’s steadfast relationship with Russia is under pressure as Moscow’s growing ties with China raise national security concerns for New Delhi. While both India and Russia seek to deepen their economic ties, the changing geopolitical landscape is leading to increased scrutiny of their long-standing partnership. India’s concerns over Russia-China relations Despite India’s external affairs minister, […]

Is crypto the culprit? RBI governor links U.S. bank crisis to digital currency

The US. Bank Crisis Highlights Crypto Risks

The governor of India’s central bank, the Reserve Bank of India (RBI), has raised concerns about the risks posed by cryptocurrencies to the financial system, citing the recent U.S. banking crisis as an example. Speaking at the 17th K P Hormis Commemorative Lecture on Friday, RBI Governor Shaktikanta Das emphasized the need for robust regulators, […]

Crypto regulation tightens in India as lawmaker makes this move

Crypto regulation tightens in India as lawmaker makes this move

Crypto regulation in India is tightening as the finance ministry has notified that crypto or virtual asset businesses will now be under the ambit of the Prevention of Money Laundering Act, 2002 (PMLA). This means Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND) and follow the same […]

Indian retailers adopt the digital rupee in record numbers

India retailers adopt the digital rupee in record numbers

The Reserve Bank of India (RBI) recently made an announcement about the progress of its pilot program for digital currency. According to RBI Deputy Governor T. Rabi Sankar, CBDC (the RBI’s digital currency) has 50,000 users and is accepted at 5,000 shops. On December 1, 2022, five Indian cities began participating in a pilot program […]

Web3 goes to school in India: Algorand announces game-changing partnerships

Web3 goes to school in India Algorand announces game changing partnerships

The Algorand Foundation, the organization focused on growing the ecosystem for the world’s most advanced, secure, and reliable layer-1 blockchain, has recently announced broad-reaching partnerships in India. The Foundation is committed to promoting job opportunities and solutions that are tailored to India’s dynamic population as a result of the fact that India will soon overtake […]

Indian retail giant Reliance will be accepting CBDC digital rupee

digital rupee

One of the largest merchants in India has announced that it would enable consumers to make payments using digital versions of the Indian rupee called digital rupee. During the period in which it is being tested, the Central Bank Digital Currency (CBDC) will be accepted by a number of merchants, one of which will be […]

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