#IndiaStack

[news365timesindia]

[ad_1] By Anjali Sharma WASHINGTON – India Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Saturday invited Mexican investors to explore opportunities in India’s Global In-House Capability Centers, aircraft leasing, ship leasing, and even foreign university setups at GIFT-IFSC, which is emerging as a global hub for reinsurance and sustainable finance. She took part in the India-Mexico Trade and Investment Summit, marked a significant step towards enhancing bilateral trade and investment ties between both countries, the Finance Ministry said in a post on social media X. Sitharaman urged private sector leaders from both nations to drive forward this growing partnership, particularly in sectors like pharmaceuticals, MedTech, and digital innovation, to strengthen the economic ties between India and Mexico. She highlighted the potential for a multi-sectoral partnership between India and Mexico, emphasized India’s growing strength in manufacturing, pharmaceuticals, and automotive sectors. Ms. Sitharaman recalled the elevation of India-Mexico relations from a ‘Privileged Partnership’ to a ‘Strategic Partnership’ during Prime Minister Narendra Modi’s 2016 visit to Mexico. She emphasized India’s political stability, a large skilled workforce, and growing infrastructure, said that joint efforts can focus on strengthening resilience through diversification, especially for critical components like semiconductors printed circuit boards PCBs, and other high-tech electronics. Finance Minister underscored India’s leadership in the digital economy, noting that India’s fintech sector has an adoption rate of 87 per cent, bolstered by initiatives like UPI and IndiaStack. She proposed that the India-Mexico partnership could leverage these advancements for cross-border collaborations, particularly in fintech and digital payments. Memorandum of Understanding was signed between CII and CCE, to foster greater business-to-business interactions and increasing Mexico’s sourcing of pharmaceuticals and medical devices from India. The Summit was to boost collaboration between the two nations in diverse sectors including IT, pharmaceuticals, healthcare, and automotive industries. It was organized by the Trade and Commerce Council of India, in collaboration with CII and the Indian Embassy in Mexico, the summit drew in over 250 business leaders and investors across various industries. The post Nirmala Sitharaman invites Mexican investors to explore India GICC opportunities appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[news365times]

[ad_1] By Anjali Sharma WASHINGTON – India Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, on Saturday invited Mexican investors to explore opportunities in India’s Global In-House Capability Centers, aircraft leasing, ship leasing, and even foreign university setups at GIFT-IFSC, which is emerging as a global hub for reinsurance and sustainable finance. She took part in the India-Mexico Trade and Investment Summit, marked a significant step towards enhancing bilateral trade and investment ties between both countries, the Finance Ministry said in a post on social media X. Sitharaman urged private sector leaders from both nations to drive forward this growing partnership, particularly in sectors like pharmaceuticals, MedTech, and digital innovation, to strengthen the economic ties between India and Mexico. She highlighted the potential for a multi-sectoral partnership between India and Mexico, emphasized India’s growing strength in manufacturing, pharmaceuticals, and automotive sectors. Ms. Sitharaman recalled the elevation of India-Mexico relations from a ‘Privileged Partnership’ to a ‘Strategic Partnership’ during Prime Minister Narendra Modi’s 2016 visit to Mexico. She emphasized India’s political stability, a large skilled workforce, and growing infrastructure, said that joint efforts can focus on strengthening resilience through diversification, especially for critical components like semiconductors printed circuit boards PCBs, and other high-tech electronics. Finance Minister underscored India’s leadership in the digital economy, noting that India’s fintech sector has an adoption rate of 87 per cent, bolstered by initiatives like UPI and IndiaStack. She proposed that the India-Mexico partnership could leverage these advancements for cross-border collaborations, particularly in fintech and digital payments. Memorandum of Understanding was signed between CII and CCE, to foster greater business-to-business interactions and increasing Mexico’s sourcing of pharmaceuticals and medical devices from India. The Summit was to boost collaboration between the two nations in diverse sectors including IT, pharmaceuticals, healthcare, and automotive industries. It was organized by the Trade and Commerce Council of India, in collaboration with CII and the Indian Embassy in Mexico, the summit drew in over 250 business leaders and investors across various industries. The post Nirmala Sitharaman invites Mexican investors to explore India GICC opportunities appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[surveycircle]

Tweeted

Participants needed for online survey! Topic: "Survey to assess the impact of Covid-19 on FinTech utilization" https://t.co/kaq7Ixjxbi via @SurveyCircle #fintech #upi #GovernmentOfIndia #goi #IndiaStack #regulators #india #survey #surveycircle https://t.co/sgMhoFbE0A

— Daily Research @SurveyCircle (@daily_research) Dec 30, 2022

[theblockchaincafe]

Maharashtra, India to consider blockchain technology for governance

Maharashtra, India’s richest state, is planning a regulating sandbox for evaluating blockchain technology solutions around several software. The state’s administration is using the technology in a tender to enhance productivity in their work. Based to records, the Maharashtra is thinking about to set up blockchain technology in the areas of motor vehicle registration, farming marketing, supply chain, and document management systems. The Maharashtra Information Technology Directorate may be the nodal agency accountable for the execution. The government has set aside IN ₹10 crores (about US $1.4 million) for the usage of blockchain technology and IN ₹4 crores (about US $560,000) has been accepted by the execution panel. A government official informed reporters that the state has previously finished its first blockchain pilot in the fields of health care, supply chains, documents, and secondary school certificates (SSC). A detailed statement has been ready to go in for considerable implement of blockchain technology in different government departments. A regulatory sandbox, which may be a common platform for implementing blockchain technology, may be ready during the next 5 to 6 calendar months.

Maharashtra, India to consider blockchain technology for governance

Blockchain has the potential to enhance transparency and accountability and boost the government’s delivery of services. A blockchain is developed by operating program and connecting many systems together. An business specialist stated that the technology may make simpler and accelerate upward the authentication of essential documents like proof of birth, family lineage, and rights of ownership as soon as they are registered. This is important when the present procedures are unpleasant and time-consuming. In 2017, Andhra Pradesh had become the very first state in the nation to start blockchain technology. The state also developed the biggest database of used cases for global start-ups to examine their solutions. It implemented blockchain technology to tackle cybersecurity concerns. Read Also: Govt of India Launched a blockchain-based e-marketplace for coffee growers Previous year, the central government introduced a blockchain project known as IndiaChain. The product has been developed by the country’s policy commission, the National Institution for Transforming India (NITI Aayog). Via this, the federal government designed to implement agreements faster, protect against fraud, and make sure the effective payment of subsidies for farmers. It also connected the IndiaChain project together with IndiaStack, which usually will be the recognition repository for the Aadhar project. The technology has assisted the authorities monitor taxes that will arrive through almost all close to India via a single and risk-free system network, an try to cut down duty evasions. The network system has been meant to become utilized for supply chain management, land records, identity management, education certificates, benefit and power distribution, cross-border finance, and EHRs (electronic health records). Read Also: SpankChain – porn-ecosystem built on the blockchain. Blockchain is likewise becoming widely used in the country’s banking field. Many banks in the nation have began to make investments seriously in the technology. Blockchain solutions are predicted to enhance functional productivity and visibility in banking businesses because it removes a number of regular operations. It also boosts banking experiences for clients by minimizing transfer duration through hrs to a few moments. According to the Blockchain Survey 2019, the usage of distributed ledger technology in India is quickly rising, along with opportunities in blockchain-based initiatives reaching more than US $20 billion around numerous market sectors. Read the full article

[biographyiq]

[analogvarun]

RBI toughens KYC norms for payments banks in India, stops KYC by reliance being undertaken by telecom companies as tug of war of KYC continues #fintech #indiaStack https://goo.gl/4sY1ra

[tntra]

Listen to the best FinTech podcast where Mr. Dilip Asbe, MD & CEO NPCI talks about the core foundational components of the FinTech revolution in India.

Listen at https://www.jiosaavn.com/shows/3-The-Holy-Grail-of-FinTech---IndiaStack-and-Beyond/ixJkz,T6p6s_

[fintechnama-blog]

api provider company

Banking, Payments & Utility APIs

Build bayments or banking app   using IndiaStack and launch it in a pheww!

​api provider company

[cryptobar79]

So sagt der ehemalige CTO von Coinbase, Balaji Srinivasan, dass Indien Krypto annehmen sollte Mit einer ehrgeizigen Jugend und einer aufstrebenden Tech-Szene könnte es ein Weg für Indien sein, die Chancen zu nutzen, die der Kryptoraum bietet. Er schlug vor, Kryptowährungen zu 'IndiaStack' hinzuzufügen, einer Reihe nationaler APIs für Zahlungen, Identität, KYC, elektronische Signatur und Dokumentenüberprüfung, die von Regierungsanwendungen verwendet werden, um Dienstleistungen für Milliarden von Indern zu vereinfachen. #india #neuschwanstein #Bitcoin #freiheit #cryptocurrency #Cardano #tag #love #peace #folow4folow #likeforlikes #handmade #maschine #digital #budapest #wien #halloween (hier: India) https://www.instagram.com/p/CNmAeZyF5F9/?igshid=199ilmsf3rseq

[theblockchaincafe]

Maharashtra, India to consider blockchain technology for governance

Maharashtra, India’s richest state, is planning a regulating sandbox for evaluating blockchain technology solutions around several software. The state’s administration is using the technology in a tender to enhance productivity in their work. Based to records, the Maharashtra is thinking about to set up blockchain technology in the areas of motor vehicle registration, farming marketing, supply chain, and document management systems. The Maharashtra Information Technology Directorate may be the nodal agency accountable for the execution. The government has set aside IN ₹10 crores (about US $1.4 million) for the usage of blockchain technology and IN ₹4 crores (about US $560,000) has been accepted by the execution panel. A government official informed reporters that the state has previously finished its first blockchain pilot in the fields of health care, supply chains, documents, and secondary school certificates (SSC). A detailed statement has been ready to go in for considerable implement of blockchain technology in different government departments. A regulatory sandbox, which may be a common platform for implementing blockchain technology, may be ready during the next 5 to 6 calendar months.

Maharashtra, India to consider blockchain technology for governance

Blockchain has the potential to enhance transparency and accountability and boost the government’s delivery of services. A blockchain is developed by operating program and connecting many systems together. An business specialist stated that the technology may make simpler and accelerate upward the authentication of essential documents like proof of birth, family lineage, and rights of ownership as soon as they are registered. This is important when the present procedures are unpleasant and time-consuming. In 2017, Andhra Pradesh had become the very first state in the nation to start blockchain technology. The state also developed the biggest database of used cases for global start-ups to examine their solutions. It implemented blockchain technology to tackle cybersecurity concerns. Read Also: Govt of India Launched a blockchain-based e-marketplace for coffee growers Previous year, the central government introduced a blockchain project known as IndiaChain. The product has been developed by the country’s policy commission, the National Institution for Transforming India (NITI Aayog). Via this, the federal government designed to implement agreements faster, protect against fraud, and make sure the effective payment of subsidies for farmers. It also connected the IndiaChain project together with IndiaStack, which usually will be the recognition repository for the Aadhar project. The technology has assisted the authorities monitor taxes that will arrive through almost all close to India via a single and risk-free system network, an try to cut down duty evasions. The network system has been meant to become utilized for supply chain management, land records, identity management, education certificates, benefit and power distribution, cross-border finance, and EHRs (electronic health records). Read Also: SpankChain – porn-ecosystem built on the blockchain. Blockchain is likewise becoming widely used in the country’s banking field. Many banks in the nation have began to make investments seriously in the technology. Blockchain solutions are predicted to enhance functional productivity and visibility in banking businesses because it removes a number of regular operations. It also boosts banking experiences for clients by minimizing transfer duration through hrs to a few moments. According to the Blockchain Survey 2019, the usage of distributed ledger technology in India is quickly rising, along with opportunities in blockchain-based initiatives reaching more than US $20 billion around numerous market sectors. Read the full article

[digitaldiets-blog]

The global FinTech ecosystem continues to grow at a rapid pace. Lot of new startups are being founded every month around the world. The US has been a leading destination in terms of the number of home-grown in Tech startups with a massive contribution toward global VC funding.

However, in recent years, India has come out of the shadows to emerge as one of the fastest-growing FinTech hubs. Between 2010 and 2015, India saw 1216 new FinTech startups founded in this period. The period between 2015 to June end 2020 has seen phenomenal growth in new startups across Payments, Lending, Wealth, and others.

India’s advancement as a FinTech nation is not a unforeseen. It happened with a four-point approach.

Firstly, solving for identity in the formof Aadhaar for formalization.

Secondly, getting everyone a bank account or equivalents (PMJDY) to store money.

Thirdly, building scalable platform(s) to move money (IMPS, UPI, BBPS, etc.).

And finally, allowing banks and FinTechs and wealth / insurance / lending players also to access platforms like UPI, GSTN & Digi Locker to innovate.

Government & Regulator Initiatives

FEBRUARY 2018: LAUNCH OF POLICY

JUNE 2018: MUMBAI FINTECH FESTIVAL

NOVEMBER 2018: SINGAPORE FINTECH FESTIVAL

DECEMBER 2018: ACCELERATOR 1.0

MARCH 2019: FINTEGRATE ZONE 2019

MAY 2019: FINTECH EDUCATION PLATFORM

JUNE 2019: FINTECH INVESTMENTS & DEALS

Maharashtra becomes the first Indian state to launch its own FinTech policy.

Launches a FinTech registry for identification and information collection on the FinTech ecosystem. Furthermore, it launches an API sandbox to facilitate the creation of new products in a secure environment.

Eight shortlisted startups from the MFH Registry were invited to showcase their solution at the festival.

Launches the inaugural version of its accelerator program in which 13 startups were selected from over 200+ applications.

Launches the Uday FinTech Education Platform and distribution of the second set of grants by Governor of Maharashtra.

Launches the FinTech Education Platform (FEP) that hosts e-learning modules for technical, functional, and miscellaneous skill sets.

FInD platform was launched for matchmaking between startups and investors.

Segment-wise OverviewNeoBanking:

Over the last decade, the Indian FinTech ecosystem has witnessed a plethora of innovations. The first wave of disruption in financial services was led by digital payment startups, followed by digital lending, wealth management, and InsurTech startups.

However, the second wave, or as we like to call it “FinTech 2.0,” is led by Neobanks that aim to redefine customer-centric consumer and business banking experiences. Problem statements being addressed include fully digitized account opening, free debit cards, instant payments, personal finance advisory, cash flow analysis & projections, GST-compliant invoicing, and accounting integration. As of publishing this report, there are about 15 neobanks in India, several of them under development or in beta stages.

Digital Lending

The maturing IndiaStack and growing API-based data availability have transformed every step of the credit value chain. Near end-to end digital lending has become a reality, with loan approval turnaround times as short as one day. Over 338 lending (consumer andSMEs) startups in India are leveraging on Aadhaar authentication, eKYC, and UPI platforms to offer quick background checks, credit scores, and instant loans to the urban, rural, and under-served populations.

WealthTech

IndiaStack has enabled Wealth Management processes with over 440 startups (personal finance management, robo-advisory, marketplaces, investment brokerage) that leverage it and build various innovative solutions. Startups leverage Aadhaar authentication, eKYC, and UPI for transactions and fees, and eSign for document signatures.

InsurTech

InsurTech landscape is quite nascent in India. The current insurance penetration is quite low, i.e., 2.76% in life insurance and 0.93% in non-life insurance compared to the global average of 6.5%. ‘Lack of customer trust’ remains the key challenge facing the InsurTech segment, and so far, industry players have found it as a hard nut to crack. The current InsurTech space in India is being dominated by few new-age insurers like Toffee, Digit, and Acko with their ability to attract and popularity among millennials.

Digital Payments

RBI’s Newest Proposal: A Gamechanger for India’s Retail Payments Sector The Reserve Bank of India (RBI) has proposed setting up of a new pan-India umbrella entity (NUE) for retail payment systems, which will be responsible for setting up, managing, and operating new payment systems, especially in the retail space, including ATMs, white label PoS, Aadhaar-based payments, and remittance services. The RBI has floated a framework for establishing the new entity and has invited comments on the draft framework by February 25, 2020. The new entity will also have to develop new payment methods, standards and technologies, and monitor related issues in India as well as abroad. The central bank said it would have to operate clearing and settlement systems and manage risks such as settlement credit. The proposed entity can either be a for-profit company or a non-profit organization, the RBI said.

[tntra]

Dear Listeners, the third episode of The Tntra Podcast is out now. In this FinTech leaders podcast episode we bring to you Mr. Dilip Asbe, MD & CEO of National Payments Corporation of India (NPCI),the umbrella organization for operating retail payments and settlement systems in India.

Checkout: https://www.stitcher.com/show/the-tntra-podcast/episode/3-the-holy-grail-of-fintech-indiastack-and-beyond-204514807

[fintechnama-blog]

api providers in india

Banking, Payments & Utility APIs

Build bayments or banking app using  ​IndiaStack and launch it in a pheww!

​api providers in india

[inventivaindia]

IndiaStack introduces account aggregator initiative to drive financial inclusion in a fair and equitable manner

IndiaStack introduces account aggregator initiative to drive financial inclusion in a fair and equitable manner

Since its launch in April 2016, the Unified Payments Interface (UPI) has taken the Indian payment ecosystem by storm. With nearly a billion transactions per month, it is undoubtedly shaping the transition to digital payments steadily.

To further support the objective of making financial products accessible to the next billion users in India, IndiaStack, the public digital infrastructure behind…

[entrackrme]

Indiastack members Sahil Kini and Nikhil Kumar have floated a fintech platform called Setu and raised seed fund of $3.5 million led by Lightspeed with participation of Bharat Innovation Fund.