Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19897919" type="General" weightage="20" keywordseo="social-media" source="keywords">Social media</keyword> platforms like X (formerly Twitter) and Facebook have established safeguards to combat <keyword id="23571068" type="General" weightage="20" keywordseo="bot-accounts" source="keywords">bot accounts</keyword>, including policies and technical mechanisms. However, the effectiveness of these measures is increasingly being questioned as AI-driven bots evolve and find ways to bypass restrictions. <h2>AI bot evolution</h2>While <keyword id="21559036" type="General" weightage="100" keywordseo="AI-bots" source="keywords">AI bots</keyword> can serve legitimate purposes like marketing and customer service, some are designed to manipulate public discussions, incite hate speech, and spread <keyword id="19933162" type="General" weightage="20" keywordseo="misinformation" source="keywords">misinformation</keyword>. Research from the University of Notre Dame investigated the bot policies of platforms like LinkedIn, <keyword id="19932634" type="General" weightage="20" keywordseo="tiktok" source="keywords">TikTok</keyword>, and X, testing how well these platforms enforced their rules. The findings were troubling. "Despite what their policy says or the technical bot mechanisms they have, it was very easy to get a bot up and working on X. They aren't effectively enforcing their policies," said Paul Brenner, a Director at Notre Dame. Even interns, who had only a high school-level education and minimal training, were able to launch the test bots using technology that is readily available to the public, Brenner explained. Their bots were created using commonly-available AI tools such as <keyword id="19918823" type="General" weightage="20" keywordseo="OpenAI" source="keywords" meta.keywordsubtype="org" meta.entityname="OpenAI" meta.hostid="261" meta.entityid="OpenAI">OpenAI</keyword>'s GPT-4o and DALL-E 3, and the tests were run on LinkedIn, Mastodon, Reddit, TikTok, X, Facebook, Instagram and Threads. <div type="Article" hostid="261" msid="114283439" title="Security threats to AI models are giving rise to a new crop of startups" mstype="2" mssubtype="0"></div>As per the tests, none of these platforms had sufficient safeguards to keep the bots out. Researchers successfully published benign test posts from bots across all platforms, with X and Reddit posing minimal challenges. While <keyword id="19911549" type="General" weightage="20" keywordseo="meta" source="keywords">Meta</keyword> platforms proved somewhat more challenging due to stronger enforcement mechanisms, they ultimately could still be bypassed — even by relatively inexperienced folk. <h2>Why does it matter?</h2>In India — and the rest of the world, for that matter — the rise of AI-driven bots has significant implications for public discourse, particularly in the political arena. Research has indicated that a substantial portion of misinformation circulating during electoral periods can often be traced back to automated accounts. Many experts emphasise that the pervasive influence of these accounts can negatively shape public perception and discussion, and is often used to target certain sensitive groups and stoke communal tension. As platforms struggle to keep pace with the evolving tactics of malicious bots, the need for stronger regulations becomes increasingly evident. Considering that AI is evolving at a rapid pace that makes it supremely difficult to tell bots apart from real human accounts — even for the tech-savvy — Brenner argues for US legislation that mandates platforms to identify human versus bot accounts. Similar measures are needed in India, where the lack of accountability for social media platforms allows harmful bot activity to proliferate. <h2>What needs to be done?</h2>Addressing the bot problem requires a multitude of different solutions. For starters, enhanced technology, such as more sophisticated AI detection systems, could help platforms identify and mitigate bot activity more effectively. Recent advancements in machine learning are paving the way for tools that can better analyse user behavior and detect anomalies that indicate bot activity. <div type="Article" hostid="261" msid="114250696" title="AI labs are fragmenting because of ego clashes and commercial pressures. It&amp;#39;s about to drive a wave of new startups." mstype="2" mssubtype="0"></div>However, it is almost just as necessary to educate users about identifying bots and understanding online discourse. To platforms can implement user-friendly tools that highlight potentially automated accounts, empowering users to make more informed decisions about whom to engage with. Legislation could also play a pivotal role in shaping how social media platforms handle bot accounts. By requiring transparency about bot activity and holding companies accountable for enforcement, policymakers can create an environment where genuine discourse thrives and misinformation is curtailed. In India, the proposed <keyword id="19955205" type="General" weightage="20" keywordseo="Digital-India-Act" source="keywords">Digital India Act</keyword> could be an avenue for strengthening regulations around <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> and enhancing user safety. While platforms like X and Facebook have made strides in developing detection methods, the sophistication of AI-driven bots continues to outpace current safeguards. This situation requires urgent attention from both tech companies and policymakers to ensure a safer social media environment. The findings of this research has been published on a pre-print server and can be accessed <a href="https://arxiv.org/abs/2409.18931">here</a>.

Even high school interns were able to use common AI tools to bypass security and launch bots on X, Facebook and other social media: report

<ul><li>The idea of K-shaped recovery post-pandemic in India is flawed and prejudiced, says a report by <keyword id="20112035" type="General" weightage="20" keywordseo="sbi-research" source="keywords">SBI Research</keyword>.</li><li>Economist <keyword id="20112034" type="General" weightage="20" keywordseo="peter-atwatera" source="keywords">Peter Atwatera</keyword> defines K-shaped recovery as - stacked inequity on one side and stacked privilege on the other.</li><li>India’s lower income groups are migrating to higher income groups, and their consumption patterns are changing.</li><li>The number of ultra rich has gone up but their combined income has not increased greatly between FY14-FY21. </li></ul>India’s income inequality has been debated since times immemorial. After the pandemic, the term K-shaped recovery, which essentially means an uneven recovery riding on certain sectors, has come to the fore. However, SBI Research doesn't agree with the theory and says that the current economic ‘shift’ has more to do with India’s remarkable ascendance with changing consumer preferences in purchases, savings and more. “The oft repeated conundrum debating a K-shaped recovery post-pandemic seems at best flawed, prejudiced, ill-concocted and fanning interests of select quarters to whom India’s remarkable ascendance, signaling more the renaissance of the new global south, is quite unpalatable,” the report said. Economist Peter Atwatera popularised the term K-shaped recovery. He describes it as "stacked inequity on one side and stacked privilege on the other”. But that’s not what’s happening in India, instead there has been a swelling of the middle class and gradual shifting of income groups. Rise of the middle classes There has been a gradual shift in people from the lowest income group, SBI Research says. It cites the income tax return filing data which shows that 36.3% of people who were earning less than ₹3.5 lakh in FY14 have left the income group to migrate upwards as of FY21. “A comparison of disparity in income during FY14 and FY21 shows that there is a clear rightward shift in the income distribution curve signifying people in lower income brackets are increasing their income to converge towards their share in population,” the report says. Shifting incomes of 36.3% people earning &gt;₹3.5 lakh from FY14 to FY21 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of people </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shift to income group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹3.5-5 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5-10 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10-20 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20 lakh and upwards </td></tr></tbody></table>Source: SBI Research On the top end, the number of rich individuals increased substantially — but their combined income hasn’t gone up substantially. In fact, even at the top-end, wealth has been distributed fairly well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of individuals earning over ₹100 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Combined wealth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY14 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹29,290 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">136 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹34,301 crore </td></tr></tbody></table> In fact the percentage contribution of the ultra-rich in the total wealth has come down. In FY14, combined income of over ₹100 crore contributed to 1.64% of total income. As their number swelled to 136 in FY21, their share in total income fell to 0.77%. “Therefore, growth is seen in all income classes but it’s skewedness has been decreasing with convergence of income towards the middle from both top as well as bottom,” said SBI Research. <keyword id="19934037" type="General" weightage="20" keywordseo="iphones" source="keywords">iPhones</keyword> and India’s consumption story India has always been known as a price sensitive market, but that’s changing thanks to its ‘young’ demographics. The rise in income is shifting the goalpost for affordability, combined with change in lifestyle preferences. This is also fuelled by online marketplaces which evolved into ‘a wish fulfilling wand’, offering brands (and their alternatives) at hefty discounts, the report says. A very good case study to this theory is Apple’s keen interest in the market. Its CEO <keyword id="19954680" type="General" weightage="20" keywordseo="tim-cook" source="keywords">Tim Cook</keyword> labels it an ‘extraordinary market’. “An interesting case affirming India’s rising middle class in flux could be iPhone sales. The company has more than 50% share in the smartphone price category above ₹50,000, aiming to sell around 9 million iPhones this year, riding the premiumization wave enveloping the consumer psyche, a harbinger of good times on the roll,” the report says. Do duni chaar: Middle class adds more wheels The report believes that <keyword id="19907310" type="General" weightage="20" keywordseo="digital-india" source="keywords">Digital India</keyword> with its direct benefits transferred to beneficiaries’ accounts and ‘the multiverse of welfare schemes’ have changed the way Indians spend and consume. A new India’s rural economic growth cannot be measured by ‘old proxies’ like two-wheeler sales and more. The fall in 2-wheelers has long been associated with rural distress but that’s no more the case. It quotes FY19 data wherein two-wheeler sales hit a high of around 2.12 crore units – when agri GDP slouched to 2.1% and rainfall deficiency spiked. Like in the case of devices, here too, there is a premiumization trend – that’s making people buy more wheels as they buy their vehicles. That indicates a transition, the report says. “People are buying more expensive motorcycles and cars than what they’ve bought earlier. And, two wheelers are being considered as giffen goods with the rise of income, and people are substituting two wheelers for the four wheelers,” SBI Research says.

India’s post-pandemic rise not uneven but shows the rise of the middle class, says SBI report

No draft of the <keyword id="15735615" type="General" weightage="20" keywordseo="Digital-India-Bill" source="Orion">Digital India Bill</keyword> has been published for public feedback or comments and no notice of the same was given in respect of the bill for its introduction in the <keyword id="61449" type="General" weightage="20" keywordseo="Winter-Session" source="Orion">Winter Session</keyword> 2022-23, the Parliament was told on Friday. "The policies of the Government are aimed at ensuring an open, safe and trusted, and accountable internet for its users. To help achieve this aim, the Ministry of Electronics and Information Technology engages with and receives inputs from the public and stakeholders, including in respect of changes required to existing legislation and the need to introduce fresh legislation. Such engagement includes all aspects of law, including regulation of digital representation of users on various online platforms, Minister of State, Electronics and IT, Rajeev Chandrashekhar, told the Rajya Sabha in a written reply. Once the legislative proposal is formulated, in accordance with the government's policy on pre-legislative consultation, proposed legislation is published in the public domain and feedback/comments invited from the public before submitting a legislative proposal to the Cabinet, he said. Thereafter, in accordance with the procedure detailed in the Manual of Parliamentary Procedures as published by the Ministry of Parliamentary Affairs, the Ministry of Law and Justice is consulted on the same and, after approval of the Cabinet, notice of the motion for introduction of a Bill is given to the Secretariat of relevant House of Parliament, he added. "The said procedure for introduction of a Bill in Parliament and pre-legislative consultation policy for public feedback/comments is observed in respect of all legislative proposals of the government. No draft has been published of the Digital India Bill for public feedback/comments and no notice of the same was given in respect of the Digital India Bill for its introduction in the Winter Session, 2022-23," the Minister said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/desk-bombing-monk-mode-other-emerging-trends-at-the-workplace-as-per-linkedin/slidelist/98973217.cms">Desk-bombing, monk mode &amp; other emerging trends at the workplace</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/haircut-on-cases-resolved-through-ibc-not-very-encouraging-says-kotak-report/articleshow/98972743.cms">Haircut on cases resolved through IBC not very encouraging, says Kotak report</a>

No draft of Digital India Bill published for public feedback or comments

Businesses are recognising the rising importance of improving customer experience as there has been an exponential surge in demand from jobseekers for call centre and remote customer service jobs since pre-pandemic, says a survey. According to data from leading job site Indeed, there was an elevated demand for call centre and remote customer service jobs in the period from January 2020 - January 2021, with a sharp increase of 498.40 per cent in job postings and a tremendous increase in jobseeker interest. The uptick was largely owing to the pandemic necessitating more virtual customer service representatives, an exponentially rising demand for quick-commerce platforms and the growth of the app economy. Gig work also grew during this time frame owing to the emergence of work-from-home as a predominant model of work. However, job trends over the past year reveal a moderate drop in both job postings (by 73.50 per cent) and jobseeker interest (by 64.50 per cent clicks per million) as the economy opens up and on-site jobs resume. "Especially in a post-pandemic world, there is definitely a growing need for professionals who can manage customer interactions with empathy and efficiency, while also possessing the technical expertise to work with emerging technologies like AI and machine learning," said <keyword id="323873" type="General" weightage="80" keywordseo="sashi-kumar" source="Orion">Sashi Kumar</keyword>, Head of Sales, Indeed India. "It is also heartening to see that the country is a preferred destination for call centres and customer support outsourcing due to its large pool of skilled workers, lower operating costs, and proficiency in English," Kumar added. Bangalore leads job postings in this segment by a large margin, contributing to 19.14 per cent of total jobs. This is followed by Delhi (9.33 per cent), Mumbai (9.11 per cent), <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword> (8.33 per cent) and <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> (6.31 per cent). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-4-paise-to-close-at-82-02-against-us-dollar/articleshow/98543092.cms">Rupee gains 4 paise to close at 82.02 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/explained-how-digital-india-act-will-replace-old-it-regime-to-tame-big-tech-safeguard-users/articleshow/98542819.cms">Explained: How Digital India Act will replace old IT regime to tame Big Tech, safeguard users</a>

Demand for call center, remote customer service jobs see sharp uptick since pre-pandemic: Indeed

New Delhi, The current Information Technology (IT) Act, 2000 has several limitations, including the lack of comprehensive provisions on user rights, trust and safety. The proposed <keyword id="13582784" type="General" weightage="20" keywordseo="Digital-India-Act" source="Orion">Digital India Act</keyword> (<keyword id="986" type="General" weightage="80" keywordseo="dia" source="Orion">DIA</keyword>) will give a much-needed thrust to the current regulatory landscape in India to tame Big Tech and empower millions of citizens, the government has emphasized. The country needs Global Standard Cyber Laws to act as a catalyst and enabler for the $1 trillion <keyword id="50691" type="General" weightage="100" keywordseo="digital" source="Orion">digital</keyword> economy, according to <keyword id="205969" type="General" weightage="50" keywordseo="rajeev-chandrasekhar" source="Orion">Rajeev Chandrasekhar</keyword>, Minister of State for Electronics and IT. This is how the DIA will become a game-changer once it comes into practice. According to Chandrasekhar, only 5.5 million Indians were on the Internet and today, 850 million citizens are connected on the web, making the country the "largest digitally connected democracy". In his presentation to various stakeholders this week, the minister said that from one type of Internet intermediary in the year 2000 to multiple types of intermediaries today (e-commerce, digital media, social media, AI, OTT, gaming etc.), we are facing new complex forms of user harms -- catfishing, doxxing, cyber stalking, cyber trolling, gaslighting and phishing, etc. The proliferation of hate speech, disinformation and fake news are other serious concerns that the old IT regime cannot address. Hence, there is an urgent need for DIA rules which will "manage the complexities of the Internet and rapid expansion of the types of intermediaries". "The new digital law should be evolvable and consistent with changing market trends, disruption in technologies, development in international jurisprudence and global standards for qualitative service/products delivery framework," Chandrasekhar mentioned. Emphasizing the need for an open Internet, the minister said that it should offer Choice, Competition, Online Diversity, Fair Market Access, and Ease of Doing Business and Ease of Compliance for Startups. The proposed DIA will offer adjudicatory and appellate mechanisms for accountable and responsive digital operators; updated intermediary framework; obligations on significant digital operators through classification/ mandates; algorithmic transparency and periodic risk assessments by digital entities. The DIA will have a core Team in the IT Ministry (MeitY) -- Minister of State (MoS) IT, Additional Secretary, GC Cyberlaw, ASG, an outside legal expert and an industry expert. There will be a comparative study of all relevant global laws pertaining to the Internet and technology in other countries for the draft Digital bill. "There will be consultations with experts, general public, industry, media, academia, student community, Internet governance forums and consumer forums for the DIA," according to the minister. The aim is to fulfill Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s 'Digital India Goals 2026' and create a $1 trillion digital economy by 2025-26. "India will be a significant trusted player in the global value chains for digital products, devices, platforms and solutions," said Chandrasekhar. The draft Digital Personal Data Protection Bill would be among the initiatives under the broad DIA -- the others being National Data Governance Policy, amendments in the Indian Penal Code (IPC) related to cyber crimes and DIA rules. "The Indian laws should be able to handle the rapid expansion of social media intermediaries," said the minister. SEE ALSO: <a href="https://www.businessinsider.in/business/news/pristyn-care-has-reportedly-fired-300-employees/articleshow/98514449.cms">Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months</a> <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a>

Explained: How Digital India Act will replace old IT regime to tame Big Tech, safeguard users

As Indian startups face turbulence in the global funding winter, experts on Monday said they need to reserve cash, create a long-term goal and adopt a culture of customer feedback to survive in 2023. On the occasion of the 'National Startup Day', envisioned by Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> last year, industry experts said that the founders must continuously monitor the trends which are happening in the world. Indian startups fired more than 18,000 employees in 2022 amid a funding winter and macroeconomic uncertainty. "Investing in R&amp;D can be one of the finest ways to actually tackle disruption. Make sure that as a business, you keep some of your profits or your balance sheet reserves for investing into R&amp;D to actually learn more," Dr Ritesh Malik, Director, <keyword id="6365866" type="General" weightage="50" keywordseo="alliance" source="Orion">Alliance</keyword> for <keyword id="2947744" type="General" weightage="50" keywordseo="digital-india-foundation" source="Orion">Digital India Foundation</keyword>, or <keyword id="1429787" type="General" weightage="50" keywordseo="adif" source="Orion">ADIF</keyword>, told IANS. "If you feel that there is a platform like Instagram where the go-to-market strategy is more efficient, start learning Instagram and start promoting your products there," he added. According to <keyword id="6061635" type="General" weightage="80" keywordseo="tejas-khoday" source="Orion">Tejas Khoday</keyword>, Co-Founder and CEO of trading platform FYERS, this year is special as India has emerged to be the third largest startup ecosystem in the world. "While the past year was turbulent with IPOs of several well-known startups not doing too well, the ongoing funding winter and related layoffs, in the long run, all this will be a blip on the radar," he said. That said, this will help the ecosystem to mature and hopefully and we will see startups achieve a better balance between scale and profitability in 2023, Khoday noted. While interacting with over 150 startups, <keyword id="2238662" type="General" weightage="50" keywordseo="pm-modi" source="Orion">PM Modi</keyword> last year announced the commemoration of National Startup Day on January 16 every year. The Department for Promotion of Industry and Internal Trade and the <keyword id="6416832" type="General" weightage="50" keywordseo="ministry-of-commerce-and-industry" source="Orion">Ministry of Commerce and Industry</keyword> marked an entire week as <keyword id="16072714" type="General" weightage="50" keywordseo="national-startup-week" source="Orion">National Startup Week</keyword>, from January 10 to 16. According to Malik, startups must hear back from their customers. "The more you hear from your customers, the more you will be able to understand their changing needs. And the more your product becomes dynamic and you constantly change that product to the whims and fantasies of the customer," he noted. <keyword id="3337958" type="General" weightage="80" keywordseo="ravish-naresh" source="Orion">Ravish Naresh</keyword>, CEO and Co-founder of Khatabook, said that there is a stronger acknowledgment of Indian startups' role in solving core problems of emerging economies to bridge the socio-economic gaps. "This year, our primary aim is to turn profitable and scale up the digital lending offerings to meet the unmet credit demand of Indian MSME businesses. We are optimistic about the Indian economy and its opportunities for the startup ecosystem," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/logistics-startup-locad-raises-11-million-in-series-a-funding-led-by-reefknot-investments/articleshow/97020396.cms">Logistics startup Locad raises $11 million in Series A funding led by Reefknot Investments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/foreign-investors-pull-out-15000-crore-from-stocks-in-the-first-two-weeks-of-2023/articleshow/97019987.cms">Foreign investors pull out ₹15,000 crore from stocks in the first two weeks of 2023</a>

Indian startups need to conserve cash & listen to customers, say experts

<keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> has been at the forefront of the digital payments revolution in India, furthering the government’s <keyword id="2674514" type="General" weightage="20" keywordseo="digital-india-vision" source="Orion">Digital India vision</keyword>. And the widespread use of Paytm in India shows that many are embracing the convenience and ease of digital payments, even at important cultural events. This has resulted in some unique use cases for Paytm’s pioneered QR-based payment solution, some of which have gone viral recently. Many families are now turning to Paytm to send and receive money as shagun or gift money at weddings, eliminating the need to carry cash and also providing a sense of security to both the sender and receiver. It is evident that Paytm is playing a key role in redefining the way transactions are conducted in India. Last week, <keyword id="117026" type="General" weightage="20" keywordseo="union-railway-minister" source="Orion">Union Railway Minister</keyword> <keyword id="7796574" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> shared a video on Twitter that shows a guest at a wedding ceremony using Paytm to make a payment to a person playing the dhol. <div type="twitter" handle="AshwiniVaishnaw" handlename="Ashwini Vaishnaw" image="http://pbs.twimg.com/profile_images/1566298964458340352/4xOExtYX_normal.jpg" favoritecount="14491" retweetcount="1943" status="शादी में डिजिटल शगुन👍Digital India का विस्तार। 👏👏 https://t.co/KFeIn5XUY8" createdat="1670062715000" id="1598985038959300611"></div> It has gone viral, garnering over 14,000 likes and 3.4 lakh views. In the video, a guest can be seen swirling his phone around the groom's head in a customary manner before proceeding to scan the Paytm QR code and offering money to the drummer. “शादी में डिजिटल शगुन, Digital India का विस्तार", tweeted the union minister along with the video. The caption translates to, “Digital Shagun in marriage, expansion of Digital India.” The video has been widely shared and praised for showcasing the seamless integration of technology and tradition in modern India. In another example of such integration, a video shared by a Twitter user shows how devotees can use Paytm to offer digital donations at temples. <div type="twitter" handle="atriverma" handlename="atri verma" image="http://pbs.twimg.com/profile_images/1586918666427592704/du1FLgy-_normal.jpg" favoritecount="6" retweetcount="1" status="Itna #digital to Modi ji ne bhi nhi socha hoga 😂@vijayshekhar @Paytm https://t.co/nOSM7V8BFd" createdat="1669535730000" id="1596774704202715136"></div> The man in the video scans a Paytm QR to make an instant payment of 1 rupee after his prayer. Recently, another picture shared by an Instagram user shows a flower seller accepting payments with Paytm’s all-in-one QR. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The user captioned the image, “The story of India's digital payment revolution is incredible! hats off to whoever initiated the project and the team which executed this massive project!!!” What’s more special? Paytm added a unique and personal touch to the payment process. The QR code sticker used by the flower seller came with the Gayatri Mantra printed on it, providing personalization to the small business owner. Such viral videos and images are a testament to Paytm's efforts to make cashless transactions mainstream and accessible to everyone. It serves as a reminder of the convenience and ease of using Paytm for making payments and how the app is becoming an integral part of our daily lives. These are just a few examples of Paytm enabling digital payments as part of its mission to bring half a billion Indians to the mainstream economy. So, the next time you are at a wedding or at a temple, make sure to keep your Paytm app handy. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

From digital shagun at a wedding to digital donation — unique use cases for Paytm go viral on social media

<ul><li><keyword id="10591" type="General" weightage="100" keywordseo="samsung" source="Orion">Samsung</keyword> on Wednesday said it plans to hire thousands of engineers from IITs and top engineering institutes.</li><li>The new workforce will join Samsung R&amp;D Institute-Bangalore (SRI-B), Samsung R&amp;D Institute-Noida, Samsung R&amp;D Institute-Delhi and <keyword id="11946158" type="General" weightage="50" keywordseo="samsung-semiconductor-india-research" source="Orion">Samsung Semiconductor India Research</keyword> in Bengaluru next year.</li><li>The new hires will work on new-age technologies such as artificial intelligence, machine learning, image processing, the internet of things (IoT), and more.</li></ul>Samsung on Wednesday said it plans to hire nearly 1,000 engineers from IITs and top engineering institutes to work on cutting-edge technologies at its R&amp;D institutes across <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, at a time when Big Tech companies lay off thousands of employees across the globe. The new workforce will join Samsung R&amp;D Institute-Bangalore (SRI-B), Samsung R&amp;D Institute-Noida, Samsung R&amp;D Institute-Delhi and Samsung Semiconductor India Research in Bengaluru next year. The new hires will work on new-age technologies such as artificial intelligence, machine learning, image processing, internet of things (IoT), connectivity, cloud, big data, business intelligence, predictive analysis, system-on-a-chip (SoC) and storage solutions, among others. "Samsung's R&amp;D centres aim to hire new talent from India's top engineering institutes who will work on breakthrough innovations, technologies, products and designs, including India-centric innovations, that enrich people's lives. This will further our vision of <keyword id="3631601" type="General" weightage="50" keywordseo="powering-digital-india" source="Orion">Powering Digital India</keyword>," said <keyword id="1072012" type="General" weightage="50" keywordseo="sameer-wadhawan" source="Orion">Sameer Wadhawan</keyword>, Head, <keyword id="6393327" type="General" weightage="50" keywordseo="human-resources" source="Orion">Human Resources</keyword>, Samsung India. Samsung will recruit engineers from multiple streams such as computer science and allied branches. information technology, electronics, instrumentation, embedded systems and communication networks. In addition, the company will also hire from streams such as mathematics and computing and software engineering. This hiring season, Samsung R&amp;D centres will hire around 200 engineers from top IITs. They have also offered over 400 pre-placement offers to students at the IITs and other top institutions. Samsung research centres in India have filed over 7,500 patents in various areas to date. Several of these patents have been commercialised in Samsung flagship Galaxy smartphones, smartwatches, network equipment and digital applications, among others. SEE ALSO: <a href="https://www.businessinsider.in/science/news/this-bio-engineered-houseplant-claims-to-clean-the-air-as-efficiently-as-30-air-purifiers/articleshow/95507043.cms">This bio-engineered houseplant claims to clean the air as efficiently as 30 air purifiers</a> <a href="https://www.businessinsider.in/tech/news/jack-ma-the-billionaire-founder-of-alibaba-disappeared-from-public-view-in-2020-hes-been-living-in-tokyo-for-the-past-6-months-new-reports-say-/articleshow/95877724.cms">Jack Ma, the billionaire founder of Alibaba, disappeared from public view in 2020. He's been living in Tokyo for the past 6 months, new reports say.</a>

Samsung India will hire 1,000 engineers from top institutes for R&D units

<ul><li><keyword id="4052276" type="General" weightage="20" keywordseo="upi-transactions" source="Orion">UPI transactions</keyword> have crossed the 6 billion mark for the first time since 2016.</li><li><keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> recorded 6.28 billion transactions in July 2022.</li><li>The number of transactions has nearly doubled since July 2021.</li></ul>Unified Payments Interface (UPI) has become one of the biggest successes of the <keyword id="1929810" type="General" weightage="50" keywordseo="digital-india" source="Orion">Digital India</keyword> initiative and has made sending and receiving money a breeze. Then monthly UPI transactions have achieved a new record in July 2022. According to the data released by the <keyword id="6383340" type="General" weightage="50" keywordseo="national-payments-corporation-of-india" source="Orion">National Payments Corporation of India</keyword> (NPCI), UPI recorded over 6.28 billion transactions in July 2022, a new record since the service was launched in July 2016. <cmsannotation type="cmsannotation" annotationid="Transactions nearly double in a year" comment="subhead" text="Transactions nearly double in a year">Transactions nearly double in a year</cmsannotation> <div type="image" title="UPI transactions Jan 2021 to July 2022." msid="93297293" hostid="261" caption="&amp;lt;p&amp;gt;UPI transactions from January 2021 to July 2022.&amp;lt;/p&amp;gt;"></div> There has been a constant month-on-month increase in UPI transactions over the years and the number of transactions has nearly doubled since July 2021. In July 2021, the number of transactions recorded was 3.24 billion, which increased to 6.28 billion in July 2022. This means that over 200 transactions were done each day in July 2022. UPI recorded a 7.16% increase in transactions from June 2022 and over a 90% increase annually. UPI has become the preferred mode of payment for customers, for both small and big purchases. The presence of QR codes from different platforms with the merchants have made payments quite easy as all you need to do is scan the code and enter your PIN. In addition to merchant payments, a majority of peer-to-peer transactions are also being done using UPI. <cmsannotation type="cmsannotation" annotationid="Increase in banks" comment="subhead" text="Increase in banks">Increase in banks</cmsannotation> One of the reasons for the increasing transactions is the fact that there has been a considerable increase in the number of banks on the platform. In July 2021, 235 banks were live on the UPI platform and this number has increased to 338 in July 2022. The onboarding of over 100 banks has considerably increased the number of UPI transactions. <cmsannotation type="cmsannotation" annotationid="Increase in value" comment="subhead" text="Increase in value">Increase in value</cmsannotation> In addition to an increase in the number of transactions, there has been a constant increase in the value of transactions as well. During July 2022, the total value of UPI transactions was over ₹10.62 lakh crore. <cmsannotation type="cmsannotation" annotationid="UPI goes global" comment="subhead" text="UPI goes global">UPI goes global</cmsannotation> The NPCI International Payments Limited (NIPL), the international arm of NPCI has given a global push to UPI. It has partnered with domestic companies in countries like <a href="https://www.businessinsider.in/india/news/indian-travellers-in-uae-can-now-use-upi-for-payments/articleshow/90976283.cms">UAE</a>, <a href="https://www.businessinsider.in/finance/news/upi-and-rupay-cards-will-soon-be-accepted-in-france/articleshow/92247190.cms">France</a> Singapore, Bhutan and Nepal to enable Indians to make use of UPI when they travel. Earlier this year, the government also announced its plan to allow credit cards to be <a href="https://www.businessinsider.in/finance/news/sbi-cards-phonepe-google-pay-to-benefit-from-rbi-allowing-credit-cards-to-be-linked-to-upi/articleshow/92099285.cms">linked to UPI</a>, allowing users to use UPI to make payments with their credit cards. This will give a big boost to both credit cards and UPI. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/indian-policy-makers-are-not-happy-that-8-out-of-10-upi-transactions-are-being-done-through-phonepe-and-google-pay/articleshow/92804434.cms">Indian policy makers are not happy that 8 out of 10 UPI transactions are being done through PhonePe and Google Pay</a> <a href="https://www.businessinsider.in/finance/news/sbi-cards-phonepe-google-pay-to-benefit-from-rbi-allowing-credit-cards-to-be-linked-to-upi/articleshow/92099285.cms">SBI Cards, PhonePe, Google Pay to benefit from RBI allowing credit cards to be linked to UPI, say analysts</a> <a href="https://www.businessinsider.in/finance/news/upi-and-rupay-cards-will-soon-be-accepted-in-france/articleshow/92247190.cms">You will soon be able to use UPI in France in addition to UAE, Singapore</a>

Over 200 million UPI transactions were done each day in July 2022

<keyword id="11907269" type="General" weightage="100" keywordseo="digilocker" source="Orion">Digilocker</keyword> documents such as the <keyword id="61610" type="General" weightage="50" keywordseo="pan" source="Orion">PAN</keyword> card, driving licence, vehicle registration certificate can now be easily accessed via <keyword id="13324969" type="General" weightage="80" keywordseo="mygov-helpdesk" source="Orion">MyGov Helpdesk</keyword> on <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword>, <keyword id="2445183" type="General" weightage="80" keywordseo="mygov" source="Orion">MyGov</keyword> announced on Monday. Citizens will now be able to create and authenticate their own Digilocker account on WhatsApp and download documents such as PAN card; driving licence; CBSE Class X passing certificate; vehicle registration certificate (RC); insurance policy - two wheeler; Class X and Class XII marksheets; and insurance policy document (life and non-life available on Digilocker), MyGov said in a statement. According to MyGov, the move will make "the government services accessible, inclusive, transparent and simple". WhatsApp users across the country can use the chatbot by simply sending 'Namaste' or 'Hi' or 'Digilocker' to the WhatsApp number +91 9013151515. "Offering Digilocker services on the MyGov Helpdesk is a natural progression and a step towards providing citizens with simplified access to essential services via WhatsApp's easy and accessible platform. With almost 100 million+ people already registered on Digilocker and 5 billion+ documents issued till date, we are confident that the service on WhatsApp will digitally empower millions by helping them access authentic documents and information, right from within their phones," said Abhishek Singh, CEO MyGov in the statement. "Equipping the MyGov Helpdesk with Digilocker services that can be accessed directly via WhatsApp, we want to unlock technology's potential to extend the benefits of essential services to citizens at scale, and this is a significant step towards scaling up the <keyword id="1929810" type="General" weightage="50" keywordseo="digital-india" source="Orion">Digital India</keyword> vision and a digitally empowered country," added Shivnath Thukral, Director - Public Policy, WhatsApp. Since its launch in March 2020, the MyGov Helpdesk (earlier known as <keyword id="8935942" type="General" weightage="50" keywordseo="mygov-corona-helpdesk" source="Orion">MyGov Corona Helpdesk</keyword>) on WhatsApp has served as a critical instrument in fighting the Covid-19 pandemic by offering people authentic sources of Covid-related information, along with critical uses like vaccine appointment bookings and vaccine certificate downloads. So far, over 80 million people have reached out to the helpdesk, over 33 million vaccine certificates have been downloaded, and millions of vaccination appointments have been booked across the country. With new additions like Digilocker, the MyGov chatbot on WhatsApp aims to build a comprehensive administrative support system for citizens to access resources and essential services that are digitally inclusive. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/not-just-india-many-countries-are-protecting-their-wheat-to-keep-daily-bread-affordable/articleshow/91733019.cms">Not just India, many countries are protecting their wheat to keep daily bread, affordable</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/chidambaram-triggers-state-vs-center-revenue-debate-after-govts-excise-cut-on-fuel/articleshow/91732927.cms">Chidambaram triggers state vs center revenue debate after govt's excise cut on fuel</a>

DigiLocker documents PAN card and driving license now accessible to WhatsApp users via MyGov Helpdesk

More than eight in ten Indians with a bank account in Metro cities now use <keyword id="48346" type="General" weightage="20" keywordseo="mobile-banking" source="Orion">mobile banking</keyword> apps that saw a surge amid the Covid-19 pandemic, according to a new report. Mobile <keyword id="1880592" type="General" weightage="20" keywordseo="banking-app" source="Orion">banking app</keyword>s are the most popular <keyword id="6354778" type="General" weightage="20" keywordseo="banking" source="Orion">banking</keyword> channel in Asia, with 83 per cent of Metro Indian and 78 per cent of Metro Chinese online adults with a bank account using their mobile banking app at least monthly, according to global market research firm Forrester. "The pandemic has redefined how customers engage with banks and accelerated digital transformation in banking," the report added. ATM use is in decline as digital payments soar and the Covid-19 pandemic has driven consumers toward digital payments. Fintech and tech giants disrupt the industry by innovating with technology. "Tech titans Amazon, Ant Group, Apple, Google, Meta, Ping An, and Tencent are using digital technologies like mobile, cloud, application programming interfaces, real-time data, and flexible architecture to enable collaboration and together build broader platforms and ecosystem businesses," said the report. However, banks are struggling to transform fast. "Many banks now acknowledge that digital transformation is never-ending, with 35 per cent of global decision-makers at banks saying their organisation is expanding their digital transformation and 19 per cent saying they are currently transforming," the report mentioned. Security is also a concern, with 25 per cent of decision makers at banks saying that security is among the biggest obstacles to execute their digital transformation. As Covid-19 reshapes customer expectations and competition heats up, a growing number of banks have embraced end-to-end transformation, focusing more on improving their IT to promote agility and innovation, the report noted. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/india/news/this-is-what-indian-pm-narendra-modi-told-putin-during-the-phone-call/articleshow/89816592.cms">This is what Indian PM Narendra Modi told Putin during the phone call</a> <a href="https://www.businessinsider.in/finance/news/why-gold-price-and-crude-oil-are-inching-up-because-of-russias-war-on-ukraine/articleshow/89817724.cms">Here is why crude oil and gold prices are inching up because of Russia’s war on Ukraine</a> <a href="https://www.businessinsider.in/stock-market/news/russias-ukraine-war-may-give-indias-upcoming-ipos-some-cold-feet/articleshow/89810954.cms">Russia’s Ukraine invasion may give India’s upcoming IPOs some cold feet</a>

Eight in ten bank account holders in India's metros now use mobile banking apps

The low Earth orbit (<keyword id="91911" type="General" weightage="80" keywordseo="leo" source="Orion">LEO</keyword>) satellite communications company <keyword id="2686914" type="General" weightage="100" keywordseo="oneweb" source="Orion">OneWeb</keyword> on Thursday announced a six-year agreement with <keyword id="340671" type="General" weightage="80" keywordseo="hughes" source="Orion">Hughes</keyword> Network Systems to provide LEO connectivity services across India. Hughes is an innovator in satellite and multi-transport technologies and networks and part of Hughes Communications India (HCIPL), a joint venture between Hughes and <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>. As part of the agreement, OneWeb will connect towns, villages, and local and regional municipalities in hardest-to-reach areas, playing a critical role in bridging the digital divide. OneWeb will also invest in setting up enabling infrastructure such as Gateways and point of presence in India to light up the services, the company said in a statement. "This announcement marks a turning point for <keyword id="1929810" type="General" weightage="20" keywordseo="digital-india" source="Orion">Digital India</keyword>. Enterprise and government customers, including telecom service providers, banks, factories, schools, defense organisations, domestic airlines, and offshore vessel operators, are eagerly anticipating the arrival of new high performing satcom services," Partho Banerjee, president and managing director, HCIPL, said in the statement. Service offerings under this agreement are subject to all appropriate regulatory approvals and licenses, the companies said. "OneWeb's constellation will cover the length and breadth of India, from Ladakh to Kanyakumari and from Gujarat to the Northeast and bring secure solutions to enterprises, governments, telcos, airline companies and maritime customers," said Neil Masterson, CEO, OneWeb. OneWeb's most recent satellite launch on 27 December 2021 brought its total in-orbit satellites to 394, over 60 per cent of the planned 648 LEO satellite fleet. It plans to commence global service by the end of 2022 as demand continues from telecommunications providers, aviation and maritime markets, ISPs, and governments worldwide for its low-latency, high-speed connectivity services. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-and-hughes-form-joint-venture-will-offer-satellite-broadband-service-in-india/articleshow/88705316.cms">Airtel and Hughes form joint venture, will offer satellite broadband service in India</a> <a href="https://www.businessinsider.in/business/telecom/news/government-owning-vodafone-idea-is-just-half-the-task-the-other-half-is-to-find-the-money/articleshow/88836355.cms">Government owning Vodafone Idea is just half the task – the other half is to find the money</a> <a href="https://www.businessinsider.in/business/telecom/news/elon-musks-starlink-faces-its-first-setback-in-india-even-before-launch/articleshow/88702976.cms">Elon Musk’s Starlink faces its first setback in India even before launch</a>

Airtel's OneWeb and Hughes team up to bring satellite internet connectivity to India

The <keyword id="7656598" type="General" weightage="20" keywordseo="merchant-payments" source="Orion">Merchant Payments</keyword> Alliance of India (MPAI) and the Alliance of <keyword id="1929810" type="General" weightage="20" keywordseo="digital-india" source="Orion">Digital India</keyword> Foundation (ADIF) on Wednesday urged the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) to extend the card-on-file (CoF) tokenisation deadline of December 31 for merchants. Citing several operational challenges that will hinder the transition to the token-based payments ecosystem, the industry bodies voiced their concerns over industry readiness on the RBI directive on card-on-file tokenisation. MPAI and ADIF said that 'ecosystem readiness' is a sequential process of going live with stable API (application programming interface) documentation for tokenised transactions. The digital payments ecosystem is a long way from consumer-ready solutions and unless regulated entities are compliant, merchants will not be able to successfully process tokenised transactions, they said in the joint letter. "In the scenario that banks are lax on preparedness, the brunt of that will be borne by merchants in the form of loss of revenue - we are looking at revenues losses of anywhere between 20-40 per cent at the minimum should that be the case," said Sijo Kuruvilla George, Executive Director, ADIF. The RBI in September prohibited merchants from storing customer card details on their servers with effect from January 01, 2022, and mandated the adoption of CoF tokenization as an alternative to card storage. The industry bodies said that if implemented in the present state of readiness, the new RBI mandate could cause major disruptions and loss of revenue, especially for merchants. "This unpreparedness will impact recent digital payments adopters even deeply. The frequency and intensity of phishing attempts will go as entire card details are to be entered for each transaction, causing a significant increase in irreversible fraudulent transactions," said Vishal Mehta, Chair of Governing Council, MPAI. Based on the set of guidelines that have been mandated by the RBI, sensitive customer information is to be stored in the form of an encrypted 'token' to help secure transactions. These tokens then allow payments to be processed without disclosing the customer details or allowing the payment intermediaries to store customer data that could breach security and privacy. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/tiktok-scores-higher-traffic-ratings-than-google-to-become-the-most-popular-domain-in-2021/slidelist/88403667.cms">People looked up TikTok more than Google making the short videos app the most popular domain in 2021</a> <a href="https://www.businessinsider.in/tech/apps/news/upcoming-whatsapp-new-features-will-enhance-admin-control-in-groups-add-shortcut-for-quick-replies-and-more/articleshow/88387262.cms">Upcoming WhatsApp features: New admin controls, shortcuts for quick replies, message reactions and more</a>

You Searched For "digital india" and got 13 results

Even high school interns were able to use common AI tools to bypass security and launch bots on X, Facebook and other social media: report

Ankush Banerjee

India’s post-pandemic rise not uneven but shows the rise of the middle class, says SBI report

Katya Naidu

No draft of Digital India Bill published for public feedback or comments

IANS

Demand for call center, remote customer service jobs see sharp uptick since pre-pandemic: Indeed

PTI

Explained: How Digital India Act will replace old IT regime to tame Big Tech, safeguard users

IANS

Indian startups need to conserve cash & listen to customers, say experts

IANS

From digital shagun at a wedding to digital donation — unique use cases for Paytm go viral on social media

Insider Studios

Samsung India will hire 1,000 engineers from top institutes for R&D units

IANS

Over 200 million UPI transactions were done each day in July 2022

Sourabh Jain

DigiLocker documents PAN card and driving license now accessible to WhatsApp users via MyGov Helpdesk

IANS

Eight in ten bank account holders in India's metros now use mobile banking apps

IANS

Airtel's OneWeb and Hughes team up to bring satellite internet connectivity to India

IANS

Merchant bodies urge RBI to extend card-on-file tokenisation deadline citing operational challenges

IANS

Popular Keywords

Buying Guides