wayr today India

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  • RBI Unveils Payments Vision 2028: Enhancing Cross-Border Transactions

    This article was generated by AI and cites original sources.

    India’s digital payments landscape is set to witness significant advancements with the Reserve Bank of India (RBI) unveiling its ‘Payments Vision 2028’. This strategic plan aims to enhance the global reach of India’s payment ecosystem by leveraging innovative technologies and regulatory frameworks.

    The RBI’s vision emphasizes inclusivity, resilience, and security within the digital payments sphere over the next three years. Key initiatives outlined in the document include a heightened focus on cross-border payment solutions, exploration of electronic cheques, and strengthening of digital payments security frameworks.

    One notable proposal is the establishment of a framework for interoperability in the Trade Receivables Discounting System (TReDS), showcasing the RBI’s commitment to enhancing existing systems and infrastructure.

    Moreover, the central bank plans to revamp the cross-border payments framework to improve efficiency and introduce a cyber key risk indicators (KRI) framework to bolster security in the digital payments landscape.

    Specifically addressing cross-border payments, the RBI aims to streamline the regulatory process for cross-border payment authorization and provide regulatory flexibility for small payment system providers, ultimately facilitating a conducive environment for business operations.

    With these strategic initiatives, the RBI is poised to drive transformative changes in India’s payment ecosystem, fostering innovation, security, and efficiency in cross-border transactions.

    Source: Inc42 Media

  • Fino Payments Bank Faces Steep Decline Amid Bearish Week for New-Age Tech Stocks

    This article was generated by AI and cites original sources.

    In a week marked by bearish sentiment in the Indian equities market, new-age tech stocks faced significant declines, with Fino Payments Bank emerging as a major loser. The market capitalization of 55 tech companies dropped from $119.46 billion to $116.31 billion, reflecting the overall negative trend.

    Among the 55 tech stocks tracked, 41 experienced losses ranging from 0.2% to nearly 16%, while 14 saw gains between 0.34% and over 5%. Fino Payments Bank, particularly affected by the recent arrest of its CEO, Rishi Gupta, plummeted by 15.81% to ₹127.

    Other notable decliners included BlueStone, EaseMyTrip, Yatra, ideaforge, Paytm, Lenskart, Fractal, and Shadowfax. Conversely, Macobs Technologies, the parent company of Menhood, witnessed a 5.19% increase, positioning it as the top gainer for the week.

    Despite the market turmoil, Ather Energy’s stock reached a new 52-week high before closing 1.69% higher. Notably, 11 tech stocks hit fresh lows, including Nazara, Swiggy, Amagi, MapmyIndia, and Fino Payments Bank.

    This volatile week underscores the challenges facing new-age tech companies and the impact of external factors on their performance.

    Source: Inc42 Media

  • Indian Cricketer Riyan Parag Invests in Industrial Tech Startup Proxgy

    This article was generated by AI and cites original sources.

    Indian cricketer Riyan Parag, who also captains the Rajasthan Royals, has recently invested ₹2 crore in Proxgy, a technology startup focused on industrial and frontline solutions. This investment joins the support from other backers like Ajinkya Rahane, Nikhil Kamath, Peyush Bansal, and Suhail Sameer.

    Proxgy, founded in 2020 by Pulkit Ahuja, develops IoT-led hardware and software solutions to enhance safety and efficiency for blue-collar workers. Their products integrate proprietary hardware, software, and an AI intelligence layer, catering to sectors that demand remote collaboration, training, and operational monitoring, especially in challenging work environments.

    The funding from Riyan Parag will further fuel the growth and expansion of Proxgy’s industrial technology offerings. The startup had previously secured funding from Ajinkya Rahane in its ongoing $3 million Series A round, as reported by Entrackr : Latest Posts.

    Source: Entrackr : Latest Posts

  • Kiran Mani Joins OpenAI to Lead APAC Expansion

    This article was generated by AI and cites original sources.

    Kiran Mani, former CEO of Digital at JioStar, has joined OpenAI as the Managing Director for the Asia Pacific (APAC) region. Mani will be based in Singapore and will report to Chief Strategy Officer Jason Kwon as OpenAI focuses on expanding its presence in India and the broader APAC market.

    During his tenure at JioStar, Mani played a pivotal role in managing the company’s digital business, including strategy development, product innovation, and platform management within the streaming ecosystem. With over two decades of experience in the technology and digital landscapes, Mani brings a wealth of expertise to OpenAI.

    Prior to JioStar, Mani held key positions at Google, serving as General Manager for Android and Google Play in Asia Pacific and Japan. He also previously worked at Microsoft and IBM.

    In his new role, Mani is expected to accelerate OpenAI’s growth across the APAC region, establish strategic alliances, and enhance the company’s footprint in APAC markets.

    Source: Entrackr : Latest Posts

  • Nokia Announces Significant Global Workforce Reduction

    This article was generated by AI and cites original sources.

    Nokia, the mobile network equipment manufacturer, has announced a substantial reduction in its global workforce, affecting over 14,000 roles worldwide. This move is part of a broader restructuring effort by the company, with the job cuts impacting approximately 20% of Nokia’s employees. The changes also extend to Nokia’s operations in India, indicating a significant impact on the company’s presence in the region.

    While the details of the restructuring plan have not been publicly disclosed, the scale of the job cuts suggests a significant shift in Nokia’s operational strategy. The company’s decision to trim its global workforce underscores the challenges and adjustments faced by technology companies in response to evolving market dynamics and competitive pressures.

    For industry observers, Nokia’s workforce reduction highlights the adaptability and resilience required in the tech sector to navigate changing landscapes and maintain competitiveness. The implications of such workforce changes on Nokia’s product development, innovation initiatives, and market positioning will be closely monitored.

    Source: Tech-Economic Times

  • Google Expands Live Translate with Headphones Feature to More Countries, Enhancing Cross-Language Communication

    This article was generated by AI and cites original sources.

    Google has recently announced the expansion of its Live Translate with Headphones feature to more countries across iOS and Android platforms, as reported by Tech-Economic Times. This technology, originally rolled out in December last year, incorporates Gemini’s translation capabilities into Google Translate, significantly enhancing the user experience. By December, the Translate app already supported over 70 languages, showcasing Google’s commitment to breaking down language barriers.

    Live Translate with Headphones enables users to have real-time translations directly streamed to their headphones, making conversations between individuals speaking different languages seamless and efficient. This feature has the potential to facilitate cross-language communication, whether for travelers, business professionals, or individuals seeking to connect globally.

    With this expansion, Google is making strides in advancing language translation technology, catering to a diverse global audience and fostering greater understanding and collaboration across borders. The integration of Gemini’s capabilities underscores Google’s dedication to providing solutions that simplify communication in an increasingly interconnected world.

    Source: Tech-Economic Times

  • India Extends Electric Vehicle Subsidies to Boost Adoption

    This article was generated by AI and cites original sources.

    The Ministry of Heavy Industries (MHI) in India has made significant revisions to the PM E-DRIVE initiative, extending subsidy timelines and increasing targets for electric vehicles, specifically electric two- and three-wheelers. Under the new guidelines, subsidies will now be tied to battery capacity, with electric two-wheelers (E2Ws) eligible for up to ₹5,000 per kWh, capped at ₹10,000 per vehicle. E2Ws registered by July 31, 2026, will be eligible for incentives, while electric three-wheelers (E3Ws) will continue to receive subsidies until March 31, 2028, as per an official notification. The government has also introduced price limits for vehicles to qualify for the scheme, excluding E2Ws above ₹1.5 Lakh and E3Ws above ₹2.5 Lakh.

    The adjustments aim to boost the adoption of electric vehicles and promote sustainable transportation. Additionally, subsidies for e-rickshaws and e-carts have been modified to ₹5,000 per kWh, capped at ₹25,000 initially, with a reduction to ₹2,500 per kWh, capped at ₹12,500 in the later phase. The government’s decision to decrease the allocation for e-rickshaws and e-carts to ₹50 Cr indicates a slower uptake in this segment. Notably, the L5 category of electric three-wheelers has already met its target and was closed on December 26, 2025, indicating progress in the adoption of electric vehicles.

    Source: Inc42 Media

  • Tech Firms Grapple with Data Verification and Compliance Costs Under New Privacy Regulations

    This article was generated by AI and cites original sources.

    As the implementation of the Data Protection and Data Privacy (DPDP) regime progresses, tech firms are facing significant challenges related to data verification and compliance costs, as reported by Tech-Economic Times. A recent survey reveals that nearly 30% of respondents anticipate these new expenses to exceed 10% of their turnover, raising concerns across the industry.

    Businesses are particularly concerned about the potential disruption to their operations. Tasks that were previously routine, such as security updates, the introduction of new products, and spam protection, now require explicit consent, adding layers of complexity to daily processes.

    As the tech landscape evolves to meet stringent data protection standards, organizations are forced to allocate substantial resources to ensure regulatory compliance. The burden of these expenses could have far-reaching implications on budget allocation and strategic planning within the industry.

    Source: Tech-Economic Times

  • Rentomojo Faces IPO Hurdle as Former COO Files NCLT Petition

    This article was generated by AI and cites original sources.

    Rentomojo, a rental startup, faces a challenge as its former COO, Ajay Nain, files a petition before the NCLT to halt the company’s planned IPO. Nain, alleging oppression and mismanagement, seeks to block the IPO, citing incomplete information during a past share sale transaction. He aims to restore his shareholding and remove certain board members.

    The petition also requests a halt on filing the draft red herring prospectus with SEBI. Rentomojo’s precautionary measures to prevent interim orders demonstrate the seriousness of the situation. The startup’s RM Employee Benefit Trust, holding a stake in the company, is central to the dispute.

    Nain’s actions highlight the complexities in startup governance and the potential impact of internal conflicts on crucial financial milestones like IPOs. This case sheds light on the importance of transparency and governance structures within tech companies, especially during significant corporate events.

    Source: Inc42 Media

  • S45’s AI-Powered Transformation of Investment Banking and IPO Processes in India

    This article was generated by AI and cites original sources.

    S45, an emerging player in India’s investment banking landscape, is leveraging AI technology to streamline IPO journeys and automate manual tasks, as reported by Inc42 Media. The startup’s AI-driven approach aims to enhance the traditional investment banking model, making capital markets more accessible and efficient.

    By automating labor-intensive processes like data organization and document preparation, S45 enables human professionals to focus on higher-level decision-making tasks. In just eight months of operation, S45 has successfully facilitated the IPOs of 26 companies on the SME board, raising over ₹1,120 Cr in capital.

    India has witnessed a significant increase in IPO activities, with record amounts raised through mainboard IPOs and SME IPOs. S45’s innovative use of AI technology not only accelerates companies’ IPO journeys but also addresses structural gaps in the existing capital market system. With a vision to democratize access to growth capital, S45 has attracted funding of $5 Mn from RTP Global to further develop its AI-native investment banking platform.

    As the number of listed companies in India continues to grow, S45’s approach to blending AI and finance is poised to reshape how investment banking services are delivered and IPO processes are managed, offering greater efficiency and accessibility for companies seeking to go public.

    Source: Inc42 Media