Search videos: #digitaleconomy
Digital Public Infrastructure
India is planning to advocate for regulations on #digitalpublicinfrastructure and cryptocurrency. The country aims to establish norms in these areas to ensure the smooth functioning and security of digital systems. This move comes as India continues to experience significant growth in its digital economy.
The power of carefully designed Digital Public Infrastructure (DPI) is to provide transformational solutions. The potential for DPI to contribute positive change in the world has now become a major focus of India's G20 leadership.
Digital Public InfrastructureBy VARINDIA | 82 views
Digital inclusion
#Digital inclusion is all about providing equal access to all individuals. With the spread of digital, the delivery of everything including finance products has become seamless. This will benefit BFSI companies more than ever, as the scope of digital inclusion is widening with more people using smartphones, and getting access to technology. BFSI sector was among the first to adopt as well as impacted by the digital wave.
Digital inclusion has made banking transactions easier and faster. The banks have now become technology-driven and provide various new features such as online banking, mobile banking, online loan approvals and many more services to their clients. Digitalization powers stronger return on investment for banks. The speed of change in the BFSI, as well as digitalisation, has been very rapid. We have moved away a lot away from where we were and where we are today.
Today's Headline in News Hour
0:00 Intro
3:27 #NOTHING bags $96M Led by Highland Europe
4:12 #Siemens Energy reveals data breach following MOVEit data-theft attack
4:57 #Google to face extra fine of ₹383 cr as it fails to pay fine to Russia
5:37 #Apple's stock price hits high, market value reaches around $3 trillion
6:20 Scientists unveils a Real-life Transformer that flies, rolls & walks
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#varindia #news #newshour #technews #Transformer #Scientist #Apple #Russia #Google #databreach #Siemens #Europe #Highland #NOTHING #BFSI #iBy VARINDIA | 97 views
Democratising Ecommerce with PIPOnet: Reaching the Masses
Thompson P. Gnanam, Managing Director and Global Chief Executive Officer, 3i Infotech
Democratising ecommerce is a process of opening up the world of online retail to everyone, regardless of their socio-economic status or location. The PIPOnet platform is a revolutionary tool that makes this possible by creating a level playing field where small and medium-sized enterprises (SMEs) can compete with established retailers.
PIPO stands for "Pay in Person Only," which means that customers can place orders online but then pay in cash at a physical location. This feature is particularly useful in countries where online payments are not yet widely accepted or where people prefer to pay in cash.
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#varindia #thompson #PIPOnet #democratizingecommerce #ecommerceforall #inclusiveecommerce #technologyforall #digitalinclusion #onlinemarketplace #smallbusinesssupport #shoplocal #affordableshopping #accessibletechnology #ecommerceinnovation #communitycommerce #socialimpact #empoweringentrepreneurs #economicinclusion #digitaldividebridged #connectedconsumers #sustainableecommerce #innovativebusinessmodels
Democratising Ecommerce with PIPOnet: Reaching the MassesBy VARINDIA | 85 views
CHIP WAR
Semiconductors are essential tools in our national security arsenal, animating every major weapon and defence system as well as their command and control architecture, including GPS and space. Now Semiconductors have become a major geopolitical issue, especially in the U.S.-China rivalry.
Many PC processors, including those Apple uses, can currently only be made in Taiwan. Almost all of the graphics processing unit (GPU) chips that run artificial intelligence applications in data centres are made in Taiwan.
The battle to control this vital technology is at the forefront of U.S.-China competition, while dependence on Taiwan to produce the vast majority of the most complex chips has become a major focus for U.S. policymakers.
It is a question of trillion dollars who will win the chip war? Chip war is now a war more than the geopolitical conflict. What will be the implications in the future, who will win this war and who is going to be the scapegoat is the biggest unanswered question.
The U.S.A, Asian countries like Taiwan, China, South Korea and Japan are the largest semiconductor producers in the world. Taiwan, China, and South Korea’s companies account for 87% of the global market. At the same time, America always wants to halt China but China’s semiconductor industry continues to advance at the 9%, its annual sales might reach $114 billion by 2024.
Today, TSMC produces 90 percent of the world’s most advanced processor chips, while Taiwanese companies produce over a third of the new computing power the world adds each year. TSMC has risen to become the world’s largest chipmaker for two reasons.
Memory chips, which store data, are relatively simple and are traded like commodities. Logic chips, which run programs and act as the brains of a device, are more complex and expensive. And as the technology running devices — from rockets to refrigerators — is getting smarter and more connected, semiconductors areBy VARINDIA | 62 views
5G enabled IoT ecosystem
As per a report, India’s digital economy has the potential to reach $1 trillion by 2025, with 5G being the main catalyst that will fuel this growth. Leveraging dense networks of small cells, 5G, the next-generation wireless technology now portends to open new doors to a 5G-enabled IoT ecosystem that will pave the way for new growth engines for the Indian economy.
The rollout of #5G now enables private and captive 5G networks for non-public use which will work as a great enabler of digital transformation for businesses and industries across India. This will allow companies to operate exclusive networks for their sole use – for example an airport operator who will no longer be dependent on a public network.
High-bandwidth, ultra-fast, low-latency 5G-enabled industrial IoT applications will help connect billions of networks over the next five years. According to industry reports, by 2023 the number of IoT-connected devices is expected to grow to 43 billion, a threefold increase from 2018. Other sectors that will be significantly impacted by 5G include agriculture, education, healthcare, automotive, gaming, automation, and manufacturing, to name a few.
This “smart industry” that combines the physical world with digital technologies is poised to transform the entire value chain, from research and development to design, engineering and finally manufacturing. For India, the development of highly competitive manufacturing hubs is one of the greatest opportunities to keep pace with economic growth and contribute to its goal of a $1 trillion electronics manufacturing economy by 2025.
From a performance perspective, 5G can handle a workload of up to 1 million devices per square kilometer. Interestingly, the Gati Shakti Team from the Logistics Division of the Department of Promotion of Industry and Internal Trade of the Government of India recently issued a desk memorandum to all states requesting them to promptly map four categories of dataBy VARINDIA | 97 views
Demand for Crypto
The survey from KuCoin takes an in-depth look into the development of the #blockchain industry and crypto space in India. There is a surge in local demand for cryptos. Almost 40% of Indian crypto investors are under the age of 30.
Despite the local government’s stance on digital assets and the levying of a 30% tax on income received from digital assets, the Indian #crypto market is expected to reach $241 million by 2030. Spurred by the prospect, the Indian government has announced the launch of a digital rupee, further stimulating the local population’s interest in the #digitaleconomy.
The survey revealed that as of June 2022, roughly 115 million crypto investors in India either currently hold crypto or have traded crypto in the past six months, accounting for 15% of the Indian population aged 18 to 60 years.
The overall market downturn has also impacted sentiment, as reflected in the preference of an increased share of investors to keep the same amount of crypto rather than invest more in it. However, more than half of crypto investors still intend to increase their investments in crypto in the coming six months.
When it comes to the hurdles of crypto investment, a lack of sufficient knowledge of the crypto market is reflected by 41% of respondents who state that they are not sure which types of crypto investment products to choose, and 37% have difficulty managing the risk of their portfolios, and 27% have trouble predicting the market directions and values of crypto. 21% are not clear about how crypto works.
The ambiguity in government regulations has been a critical factor deterring potential investors. 33% report that government regulation is a concern when considering investing in crypto. The safety of investing in crypto is also a concern for many, as 26% worry about hackers being a threat, and 23% fear that they may not get their money back in case of security incidents.
The crypto space in India has bBy VARINDIA | 61 views
ONDC - the next UPI
The Centre launched Open Network for Digital Commerce (ONDC) in Delhi NCR, Bengaluru, Bhopal, Shillong and Coimbatore in a pilot phase in the month of April.
ONDC is a freely accessible government-backed platform that aims to democratise e-commerce by moving it from a platform-centric model to an open network for buying and selling of goods and services. ONDC is planned to be active in 75 locations by August, months after running pilots in seven cities.
The #digitaleconomy has been propelled by a pandemic, which has contributed to the Indian e-commerce sector's current hypergrowth. In order to avoid being infected during the pandemic, people were advised to conduct online transactions. Digital use increased along with the rise of online-only purchasing.
It is an initiative of the government to promote an open platform for all aspects of the exchange of goods and services through electronic networks. ONDC to become the next Unified Payments Interface (UPI), one of India's most successful digital products. Through this platform, consumers can potentially discover any seller, product or service by using any ONDC-compatible application or platform, thus increasing freedom of choice for consumers.
The open network concept extends beyond the retail sector, to any digital commerce domains including wholesale, mobility, food delivery, logistics, travel, urban services, etc. It is an opportunity for the startup entrepreneurs to take the UPI, a system that powers multiple bank accounts into a single mobile application, to the world in a "very big way".
With the usage of ONDC platform, consumers' freedom of choice will increase as a result of the platform's potential for enabling them to find any seller or service by utilising any ONDC-compatible platform or application. ONDC can support business owners engaged in e-commerce, B2B transactions, or direct consumer contact.
For instance, last weeBy VARINDIA | 32 views
India Marching ahead with Digitization
India's progress towards becoming a true #digitaleconomy , backed by progressive government policies, is encouraging domestic and #globaldatacentre operators to make huge investments in the country.
The shift towards cloud has pushed increased investments in hyper-scale data centers with the global data centre market investments expected to reach $200 billion per annum by 2025. India is also expected to get a share in this growth with investments in the country expected to reach $5 billion per annum by 2025. But to meet this rising demand, India will require a huge investment in data center and cloud infrastructure over the next three years.
Demand is likely to ramp up further due to the imminent rollout of #5G, increasing usage of IoT-enabled devices, data localization and cloud adoption. The businesses are looking to adopt cloud servers and surging cloud applications will make it imperative for businesses to have a reliable and secure IT infrastructure, where data can be stored and processed effectively.
#DataCenters are the backbone of a digital revolution. The Government of India's proposed Draft Data Center Policy aims to make India a 'Global Data Center Hub'. This will provide long-term funds for investments in the sector. State Governments have also been providing incentives to industry players for setting up data center parks.
The synergy of technology, legislation, demand, and investments is expected to usher in an era of high growth for India's DC industry in coming years. As India emerges as one of the fastest-growing data economies, India's adoption of cloud technologies will be imperative to tap into the global cloud market to help enterprises and the industry embrace this opportunity and further the Digital India agenda of Government of India.
As part of the policy framework, the Ministry is looking at reducing the number of clearances needed for setting up a data center. AccBy VARINDIA | 68 views
Digital Economy creating waves
#Digitaleconomy is the economic activity that is derived from billions of everyday online connections among people, businesses, devices, data, and processes.
For the first time, the 2030 forecast has projected that the digital economy could reach a value of $1 trillion by the end of the decade.
The Growth in the digital economy would see Southeast Asia help define the future of technology globally. Technology has been critical in helping Southeast Asians get through the COVID-19 pandemic.
A report states, the size of the digital economy is in terms of gross merchandise value or the sum of goods sold through customer-to-customer platforms. The report covers Indonesia, Malaysia, Philippines, Thailand, Vietnam, and Singapore, which together account for roughly 90% of Southeast Asia’s total population.
India and Southeast Asia have both grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes. Double-digit growth is forecast for all six countries this year with the Philippines leading the pack at a compounded annual rate of 93%. Last year, India emerged as the third-largest startup ecosystem in the world, after the USA and China. Southeast Asia, meanwhile, is on track to become a $1 trillion digital economy by 2030. The largest economy, Indonesia, could become twice the size of the regional market today.
The upbeat forecast for the region bodes well for countries that are gearing up to use digitalization as the linchpin for their economic recovery from the COVID-19 crisis. Lockdowns and mobility restrictions drove more people in the region to go online to buy food and other essentials, to pay their bills, to continue their studies or work, and even for entertainment. They include those that used such digital services for the first time.
Southeast Asians have embraced the digital lifestyle. Eight in 10 internet users in the region have made an online purchase at leasBy VARINDIA | 67 views
Digital economy to bring future growth, opportunity between India & the US
Describing the digital economy as a goose that lays golden eggs, the head of the US-India Business Council (USIBC) has called for the creation of structures, regulations and legal framework to ensure the continued vitality and growth of this key sector in the US and India. There is a sweeping revolution happening in India, and it is going to have an enormous positive impact on India, on America, and on the entire world. After centuries of disruption, India is returning to its historic stature as one of the largest, most dynamic and prosperous economies on earth.
The head of the US-India Business Council (USIBC), Atul Keshap said, optimism that US-India cooperation could help address some of the global economic challenges. We can have a dispositive impact in building a dependable, resilient, free world supply chain for all of the things that we must have the critical materials of fuelling and powering and supporting innovation things like semiconductors and rare earth. Keshap emphasised that the main imperative for India to attract continued investment from global companies and build stronger trade ties with the United States is to create an enabling and predictable policy landscape. An investor wants stability, predictability, transparency, ease of doing business, simple procedures, and a level playing field, and doesn't want an unfair advantage. Reaffirming the USIBC's vision of a $500 billion US-India trade partnership, Keshap highlighted the digital economy as a space for future growth and opportunity.
Today's Headline in NewsHours
0:00 Intro
2:00 Govt to privatise two public sector banks
2:32 #Fortinet Security Fabric surpasses 500 integrations
3:07 #Amazon witnesses 30% increase in smartphone business
3:47 #Samsung to discontinue low value feature phones business in India
4:22 Attackers using Predator spyware to record audio, hide apps and more
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Website:https://variBy VARINDIA | 91 views
Living in the fake world of Likes, turning out to be a Trillion-dollar business
There are billions of human beings using social media, there are also millions of robots, or bots, residing within. Bots help to propagate fake news and inflate the apparent popularity of fake news on social media. Social media platforms (Facebook, Twitter, Instagram, etc.) have become home to millions of social bots that spread fake news. There have been several reports on creating fake profiles in social media. There have been several police complaints on fake profiles. People with a massive following on social media nowadays get demigod status, and this has also become the latest tool to measure their importance, their popularity, and their influence. The truth behind this virtual reality may disappoint you, as the majority of followers of these stars and celebrities are fake and they are facilitated through certain companies. Under this social media scam, influential people buy a large number of fake followers to flaunt their popularity and star status. This is a business model to facilitate followers after charging money to promote a product or to speak in favour of any person. There were cases reported , the Mumbai Police has found over 200 high-profile people, including some Bollywood celebrities, sportspersons, and social media influencers, who allegedly paid money to get fake or ghost followers. The investigation has also revealed that these companies tamper with servers related to social media platforms to facilitate a surge in the number of likes, comments, and followers.
Artificial intelligence allows bots to simulate internet users’ behavior (e.g., posting patterns) which helps in the propagation of fake news. For instance, on Twitter, bots are capable of a number of social interactions that make them appear to be regular people. They respond to postings or questions from others based on scripts that they were programmed to use. They look for influential Twitter users (Twitter users who have lots of followers), and contact them by sending themBy VARINDIA | 120 views
What’s on the horizon for cybersecurity in the coming year ? | Trending News | Technology | New 2022
What’s on the horizon for cybersecurity in the coming year ? | Trending News | Technology | New 2022
#VARINDIA_News_Hour #VARINDIA #Breaking_News
The pandemic continues to affect the way we work, socialise, shop and conduct business but there will be massive focus on cybersecurity. The growing challenges into cyber terrorism across the globe are likely to start coming up with their own distinctive national laws on cybersecurity. Some of the early movers who have worked up and come up with dedicated laws on national cyber security include China, Vietnam, Singapore and Australia. The year 2022 is likely to see more nations coming up with their own distinctive national laws on cybersecurity. This assumes more significance because of the tremendous number of cyber-attacks that are taking place. In fact, the year 2022 will see the multiplying of the cyberattacks. Today, cyber-attacks are being engaged in by both state and non-state actors and there are an immense number of legal policy and regulatory issues pertaining to cyber-attacks. Tackling a cyber-attack becomes a distinctive problem. A cyberattack can be originated from one part of the world and targeted at computer systems and communication devices in another country in another part of the world. With the ever-increasing use of social media and mobile apps worldwide, come great opportunities for hackers to steal others’ identities and information.
Ransomware attacks will continue to keep on increasing. Every 11 seconds, one company, anywhere in the world becomes a victim of a Ransomware Attack and as time passes-by in the year 2022 this position is likely to get worse. Currently, the economic loss that the world is facing as a result of cybercrime and cybersecurity breaches is phenomenal and these particular loss figures will continue to keep on increasing. Hence, more nation-states in the year 2022 are likely to come up with new mechanisms so as to minimise the potential losses cBy VARINDIA | 92 views
Historic day for the Indian Digital journey: Union Budget 2022-23 | VARINDIA News Hour
Historic day for the Indian Digital journey: Union Budget 2022-23 | VARINDIA News Hour
#UnionBudget2022
The budget highlights the Governments' focus on digital inclusion and technology led provisioning of services to vulnerable sections. The budget shows the government wants RBI to promote digital currency, central Bank digital currency (CBDC) and kill all other currencies, just like China is doing. The government said RBI will launch digital rupee and announced a 30% tax on income from transfer of virtual digital assets. This is a very positive aspect. This is a progressive move that will give a big boost to India's digital economy. We believe digital literacy will be the key to realizing India's 5 trillion-dollar economy dream. To create a digital ecosystem for skilling and focus on digital inclusion through 5G and investment in technologies such as Artificial Intelligence and infrastructure, the government will continue strengthening the development of entrepreneurship, productivity, and quality of IT talent in the country, thereby scaling the adoption of new-age technologies across industries. Budget proposes to extend the existing tax benefits for startups by 1 more year – a promising and welcome move that will support the startup ecosystem in the country. The government’s funding support to sunrise sectors such as climate action, deep tech, digital economy and Agri tech is also welcoming.
Secondly, the Government has made a strong economic statement with its focus on public investments to spur growth. Forward looking and catering to an aspirational Digital India the budget once again lays its emphasis on technology with the launch of Digital Currency using blockchain, Digital University for education in different Indian languages, roll out of 5G and boost to Start-ups. At the same time, the government looks unlikely to offer any major relief measures to struggling consumers, focusing instead on beefing up spending on tBy VARINDIA | 97 views
PEGASUS – A WEAPON FOR A DIFFERENT WAR
Journalists and news organizations can do yeomen service to the world by opening our eyes to the wheeling dealing, which happens in the name of statecraft, diplomacy and internal security. They also give us a peep into the world’s underbelly, which is greasy and is kept intact in the name of security, territorial integrity, sovereignty and the ultimate power of the nation states not to divulge anything. All we need to understand is how tech is used for things it is not meant for and not made public. A recent news from the apex court of the country said, there is a strong indicator state used Pegasus for spying, pointing to the involvement of "the state, its intelligence and law enforcement agencies" in using Pegasus for unauthorised surveillance, at least two cybersecurity experts told the Supreme Court-appointed committee. A researcher reportedly analysed iPhones of seven people, of which two were found to be infected with Pegasus, Cyber experts told the Supreme Court panel. Pegasus can be very safely be termed as the most potent weapon, since the atom bomb. A year-long investigation including inputs from government officials, leaders of intelligence and law enforcement agencies, cyber weapon experts and lots others has clearly proven how Israel’s ability to approve or deny access to NSO’s cyberweapons has been entangled with its diplomacy. In a shocking news, Chief Executive Officer of NSO Group, Shalev Hulio, in an interview to Israeli Channel 12 said, strongly defended the company's operations, though he also conceded that some "mistakes" may have happened over the years. Our technology has over the years helped the interests and national security of the United States quite a bit," he claimed.
Pegasus used spear phishing to enter phones, utilising a message designed to entice the target to click on a malicious link. However, it evolved into “zero-click” attacks with the phones being infected without any action from the tarBy VARINDIA | 125 views
SaaS could be India's next big story to the world
Recent rapid changes in the business environments have resulted in greater complexity. In such a scenario, effective and constructive interactions between individuals and groups have been identified as key factors towards an organisation’s growth. Companies, whether small or big, have taken the plunge and gone digital. Companies have been launching digital transformation initiatives, new workplace access models or enhancing consumer experience etc. Remote working, digital economy, automation and supply chain enhancements have made accelerated spends in technology a reality and these trends are here to stay for the next decade. In coming years, technology enabled businesses and companies will drive larger value creation for all stakeholders. Beyond new application areas and emerging technologies like Cloud, Data and Analytics, Artificial Intelligence, Machine Learning, Quantum Computing and Industry 4.0 are rapidly expanding the horizon of opportunity. While India has emerged as a global leader in outsourced IT services and the industry is poised to grow to $350 billion in the next five years, the opportunity arising from many of the areas mentioned will be much larger and can easily be a $1 trillion market opportunity for Indian companies in the next decade.
The Global SaaS market is about $150 billion and growing at a CAGR of 23% and according to Nasscom, India’s market share in this is now only at high single digits. The Indian market for SaaS products is also growing rapidly and will grow 6 times by 2025 to touch $ 30 billion. With the strong growth opportunities in India many resourceful entrepreneurs are demonstrating that they can build a business with Indian customers and then start addressing global markets. With a strong momentum demonstrated, Indian SaaS companies are expected to garner a market share of 19% by 2025. There is rapid growth of 70% + in Indian SaaS, it is possible with the government that has played a key role in nurturing and buildiBy VARINDIA | 32 views
Growing adoption of collaboration platforms could bring potential risks
#IndianArmy #messagingapplication #CarlyleGroup
Collaboration Platforms posing risks
There has been a widespread adoption of collaboration platforms across industries to improve and personalize Customer Experience. Organizations are using these platforms in innovative ways to improve, personalize and hence deliver better Customer experience to a variety of customers across rural and urban areas. This has helped companies establish a better connection with a larger customer base and gives customers the flexibility to connect from anywhere, anytime and across any device/platform. Beyond connecting with customers, companies are also using collaboration platforms in a variety of ways to enable new ways of working, learning, service delivery, hosting events and empowering a hybrid workforce. In the post-pandemic world, collaboration and conferencing tools like Microsoft Teams, Slack, Zoom, etc. have replaced desk chatter, watercooler conversations and even email. As we approach the end of 2021, organizations across the globe have understood the importance of the hybrid work space and are preparing their teams for this new normal. As a semblance of normalcy resumed during the latter half of the year, we saw organizations adopt a mix of remote, hybrid and physical setups in different mixes as were best suited to their objectives.
Virtual Care and Telehealth are here to stay and the past couple of years have really highlighted the importance of virtual healthcare. Telehealth and video communications have made value-based care more accessible, convenient, and affordable. Various innovations and improvements have improved patient experience to a great extent. Providers today can consult with global experts and continue their medical education with virtual training, certification programs, and conferences. Most of the workers are on home networks, potentially using personal devices, or interacting — unwittingly or not — through unauthorized communicaBy VARINDIA | 144 views
Government is considering to regulate Data Center business in the country
#IAF #choppercrash #RajnathSingh
Data Centre regulations in India
India is witnessing a transition, from an emerging to a developed market economy and digital is slated to play a key role in this journey. With over a billion mobile phones and more than 700 million internet subscribers, India has also witnessed an exponential growth in digital-commerce, digital entertainment and use of social media. India’s mobile data consumption is already the highest in the world and is constantly increasing. #MeitY has drafted a Data Centre policy to benefit the developers as well as the allied ecosystem of the Data Centre sector. The policy intends to ensure sustainable and trusted Data Centre capacity within the country. The size of the digital population in India and the growth trajectory of the digital economy necessitates a strong growth of Data Centres, which has the potential to fulfil the growing demands of the country. Need for Data Centre infrastructure within the boundaries of the country is further necessitated by the data localization provisions of the proposed Data Protection Act and for protection of the digital sovereignty of the country in an increasingly connected world. India also offers advantages of having a favourable geographical location on the world map, availability of economic resources, established global connectivity through submarine cables, easy and cost-effective access power and readily available skilled manpower, enabling the nation to become a global Data Centre hub.
Businesses are consuming more data than ever before and this trend will only grow. But our tech-loving ways could cause lasting damage to the planet. As part of the policy framework, the Ministry is looking at reducing the number of clearances needed for setting up a data center. Accordingly, plans are on to discuss the matter with Central ministries and State governments for possible alignment on this subject. Data centers need about 40 clearances, which takesBy VARINDIA | 61 views
Hopes are e-Rupi to boost India’s fintech sector
#eRupi #digitalpayment #digitaleconomy
With the newly launched e-Rupi #digitalpayments platform, India has now taken its first step towards having its own digital currency. India’s consumer #digitaleconomy, which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030. Today, over 90 per cent of the orders fulfilled by online commerce get done by the new age logistics, an industry which has come up only in the last one decade and has solved the challenges through technology and customer centric mindset. Digital payments are becoming quite ubiquitous in India. The government has now come up with a plan for leveraging the digital infrastructure so that there is ‘leak-proof delivery’ of its welfare schemes. Now e-Rupi can be comparable to a prepaid voucher that is redeemable at specific centres. What is even more special about it, is that one does not need any credit or debit card, mobile app or internet banking to use it.
Developed by #NPCI in collaboration with the Department of Financial Services, Ministry of Health and Welfare and National Health Authority, e-Rupi seeks to connect beneficiaries and service providers digitally, making it a personal purpose-specific payments platform. The Indian economy has always been largely cash-dependent, while the government has been making efforts to digitise the economy, still much remains to be done. With this new platform, the government hopes to encourage as well as accelerate the adoption of digital payments and bring down the cash to GDP ratio. With more and more people overcoming their wariness about digital transactions, fintech, in turn, will be able to reach out to more consumers who had earlier been left out by the formal economy and financial services sector, especially in rural India. Going forward, the biggest advantages which we can foresee of e-Rupi is the penetration of digital transactions, which of course has been a fintech focus as well.By VARINDIA | 76 views
Digital economy is a critical tool for social inclusion
#DigitalEconomy #Intel #Google
Digital Economy - tool for Social Inclusion
In the recently held G20 Digital Ministers’ Meeting hosted at Trieste, Italy, the G20 ministers adopted a declaration for “Leveraging Digitalization for a Resilient, Strong, Sustainable and Inclusive Recovery”. It is noted to hear the Ministers agreed to work towards the enhanced cooperation on the pillars of Digital Economy and Digital Government. Minister of Electronics & Information Technology Ashwini Vaishnaw led the Indian delegation virtually and shared India’s success story of Digitalization how, Digital India is working out for digital inclusion and social empowerment, through digital technologies and public digital platforms such as AADHAAR, Direct Benefit Transfer (DBT) etc. “Providing digital identity Aadhaar to 1.29 billion users, opening bank accounts of 430 million poor people and linking both these to send the financial entitlements directly into bank accounts has eliminated leakages from the delivery system. Around 900 million citizens are receiving benefits of one or more schemes. This has not only empowered the common citizens but has also led to savings of over $24 billion in the last seven years.
Vaishnaw also highlighted the importance of digital inclusion during the pandemic for which India has been a strong proponent. He said that technology is for Digital Inclusion and not for creating digital divide and India has always been advocating that digital economy is an important tool for social inclusion. Minister of State Shri Rajeev Chandrasekhar shared India’s model for the availability of robust and secured digital infrastructure including digital platforms and connectivity under the Digital India programme. He spoke, Technology and Digitalization has been front and center in the toolkits of every government’s response to the COVID causing disruption of lives, livelihoods and economies. He suggested that G20 countries should collaborate onBy VARINDIA | 123 views
Digital Economy of India to touch $800 billion by 2030
#DigitalEconomy #WhatsApp #SupremeCourt
Digital Economy to touch $800 billion
India’s consumer digital economy which was pegged at $85-90 billion in CY 20, is expected to become a $800 billion market by 2030. The digital economy includes 60% of travel, 40% of non-grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30, as per the data of RedSeer. With this growth we could forecast the next wave of entrepreneurs will create innovations which will make the Indian model successful globally. During these difficult times, most of the enterprises faced the challenge that their current levels of cybersecurity are not enough to protect their endpoints and servers.
The year 2020 has started with COVID-19 and a pell-mell shift to remote work, and finished with the gut-punch of a major breach that put hundreds of organizations into frantic access-and-remediate mode. The consequences of the pandemic’s rapid shift to work-from-home — and the exponential adoption to cloud technology that it helped drive — include lesser visibility into the security ecosystem, lesser control of access points, and a larger, more varied attack surface for adversaries to target. Over the course of the pandemic, there has been an escalating number of cyberattacks designed to exploit vulnerable remote workers and people who are desperate for information about the virus and vaccine. About 52% of Indian organizations fell victim to a successful cybersecurity attack in the last 12 months. Of these successful breaches, 71% of organizations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate.
Today's Headline in NewsHours
0:00 Intro
2:05 #WhatsApp #messages have no evidential value says, #SupremeCourt
2:55 We want to be the best partner for our partners, says #SatyaNadella at #Inspire2021
3:49By VARINDIA | 90 views
Future of Work going to be Hybrid and Collaborative
Digital economy is triggered by the continued pandemic bringing an unprecedented opportunity for the technology companies and it brings the confluence of people, process and technology to reconstruct existing business models. Covid has proven instrumental in boosting the growth of the tech industry. Companies operating in the most demanding sectors like online education, payments, OTT, and tech-enabled staffing service are among the tech honourees on the business journal's fast 50 start-up lists. With the tech sector gaining traction, most tech companies are anticipated to increase headcount in 2021.
Covid has undoubtedly magnified the demand for technology. Simultaneously, this increased demand of technology has given rise to a greater demand for tech-skilled resources. An average Indian is now presented with a multitude of opportunities to pursue a lucrative tech career. With India right in the midst of experiencing a deadly second wave of coronavirus, it has become clear that remote work is here to stay and we should evaluate this time to evolve our hybrid workplaces to build capabilities for businesses to thrive. The hybrid workplace essentially gives employees and businesses the choice to explore further flexibility encouraging them to work wherever they feel most comfortable or productive. It has led to recreating the way we work and rethinking how work gets done, and where it gets done. According to a recent survey conducted by Citrix Systems, 52% employees prefer hybrid models for work post-pandemic.
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Future of Work going to be HybridBy VARINDIA | 103 views
Emergence of network economy is the newer model to scale
The digital economy refers to a broad range of economic activities that use digitized information and knowledge as key factors of production. That is transforming towards Network Economy. It includes the internet, cloud computing, big data, fintech, and other new digital technologies that are used to collect, store, analyze and share information digitally and transform social interactions. The digital economy also permeates all aspects of society, influencing the way people interact and bringing about broad sociological changes. All sectors of the economy have adopted ICT to enhance productivity, enlarge market reach, and reduce operational costs.
Changes have been seen in the customer’s demand, with the emergence of the network economy for cutting down the cost and increasing agility to accelerate the digital ecosystem. When we compare the global market Asia continues to benefit from this digital transformation the most. However, understanding the digital economy remains a challenge because of its complexity. Digital transformation is about not only big data and digital platforms but also how those advanced technologies can be utilized to maximize opportunities for innovation, new business models and processes, and smart products and services. Further, the digital economy is allowing regional businesses to move away from the local and into the global, in keeping with the long-term trends towards market liberalization and reduced trade barriers.
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Emergence of network economy is the newer model to scaleBy VARINDIA | 91 views
Can Every Business Think of Digital Business
Can Every Business Think of Digital Business
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India Is Driving Towards Self Reliant Digital Economy
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Capitalizing on agility to win the digital banking competition
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