New Delhi, June 27 (IANS) What began as a simple payment platform 10 years ago now powers daily digital commerce across India as UPI transactions increased from just 2 crore in FY2016-17 to over 24,162 crore in FY 2025-26, an official fact-sheet said on Saturday.The JAM Trinity — Jan Dhan, Aadhaar, and mobile connectivity — revolutionised financial inclusion and welfare delivery in India. It brought millions into the formal banking system and enabled seamless access to government services.Ja…
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New Delhi, June 27 (IANS) India is emerging as a global leader in Digital Public Infrastructure (DPI), driven by scalable and citizen-centric digital governance platforms and the country has signed MoUs with 24 countries for cooperation on India Stack and DPI systems, covering digital identity, payments, data exchange, and service delivery (as of February 2026), an official fact-sheet said on Saturday.Over the past 11 years, India has built one of the world’s largest Digital Public Infrastruct…
New Delhi, June 25 (IANS) India’s asset and wealth management industry is projected to reach $1.7 trillion in assets under management by 2030, up from $0.9 trillion in 2024, implying a compound annual growth rate of 11.6 per cent, a report said on Thursday.The growth in asset and wealth management industry is driven by parallel growth in institutional capital pools and retail financialisation, the report from PwC said.It further highlighted that India’s rapid growth outlook sits within a broad…
Washington, June 25 (IANS) US lawmakers debating the future of the country’s payment system pointed to India’s Unified Payments Interface (UPI) as an example of how modern public payment infrastructure can drive private-sector innovation, as fintech firms urged Congress to overhaul regulations governing access to America’s payment network.The comparisons with India came during a hearing of the House Financial Services Committee’s Subcommittee on Financial Institutions on Wednesday (local time), …
New Delhi, June 24 (IANS) India is emerging as a third force in the global artificial intelligence (AI) race, seeking to position itself alongside the US and China while promoting a model that combines technological innovation with broader access and democratic participation, a report has said.The analysis by Pressenza highlighted that the country is increasingly viewing AI not only as a tool for development but also as a driver of productivity, industrial competitiveness, export growth and tech…
New Delhi, June 23 (IANS) India is emerging as a distinctive sovereign AI market, where regulation, innovation and national digital public infrastructure are closely linked, and 96 per cent of policymakers are advancing a strategy in this field, a report said on Tuesday.The report from Dell Technologies said 97.7 per cent of government leaders expressed confidence in agentic AI as an adoption accelerator, with 44.4 per cent believing it will play a major role well above the Asia Pacific average …
New Delhi, June 22 (IANS) India has emerged as a global digital powerhouse over the last 12 years, driven by rapid advancements in artificial intelligence (AI), semiconductors, quantum technologies, data centres and digital public infrastructure, according to an official fact-sheet released on Monday.The fact-sheet highlighted that India has transitioned from being largely a consumer of digital technologies to becoming a creator of globally scalable technology solutions, backed by strong policy …
New Delhi, June 20 (IANS) Recent wallet inactivity notifications from PhonePe have led to increased consumer interest in digital wallets and how they function. One of the key observations from these discussions is that many users continue to assume that their PhonePe account, UPI account, and PhonePe Wallet are the same. In reality, these are different payment instruments that operate independently and serve different purposes.As digital payments become increasingly common in everyday life, unde…
Paris, June 19 (IANS) Prime Minister Narendra Modi addressed a large gathering of the Indian community in Paris. Upon his arrival at the venue, the Prime Minister was given a warm and colorful welcome, “reflecting the deep affection of the diaspora for the motherland”, the Ministry of External Affairs (MEA) said in an official statement on Friday. The Indian community in France gathered in large numbers chanting slogans of “Modi, Modi” and “Bharat Mata Ki Jai”. “During his address at Paris, Prim…
Nice/New Delhi, June 14 (IANS) Prime Minister Narendra Modi and French President Emmanuel Macron on Sunday agreed to set up a high-level mechanism to double trade between the two countries within five years, and also shared concrete ideas to strengthen and diversify bilateral ties in the fields of economic growth, technology and talent mobility, according to a joint statement issued after the summit between the two leaders at Nice in France.“The two leaders called for early implementation of t…