Page 3 - Digital Technology

iBUS Network and Infrastructure receives Rs 280 crore investment from IFC

This investment will bolster iBUS's plans for both domestic and international growth

Apollo Funds to buy IGT's gaming, digital business, Everi in $6.3 bn deal

The deal, subject to regulatory approvals and approval by Everi stockholders, is expected to be completed by the end of the third quarter of 2025

India's fintech industry projected to reach $420 bn by 2029 at CAGR of 31%

The Indian fintech industry is estimated to be around USD 110 billion in 2024 and its projected to reach about USD 420 billion by 2029, Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, National Payments Corporation of India, said. The sector, he said, is expected to continue to grow due to factors like favourable policies of the government. The government's push towards a digital economy, coupled with a young and tech-savvy population, is likely to propel the fintech sector to new heights, he added. "As of 2024, Indian FinTech Industry is estimated to be around USD 110 billion and by 2029, it is projected to reach an impressive number of around 420 billion at a cumulative annual growth rate of 31 per cent," industry chamber Assocham said in a statement, quoting Choudhary. It said the advent of the fintech ecosystem, driven by technology-linked innovation, has revolutionised traditional financial services and led to improvement in the efficiency of delivery of

OIa founder calls to create India's own AI stack, use DPI to build datasets

To be leaders on the AI front, Aggarwal elucidated that the country needs the government and the industry to adopt AI applications

India pushes for plug-and-play DPI models to keep sovereignty: Report

DPI of countries should be universally applicable, says India's G20 task force report

Tech platform ACESO plans to add 60 more channel partners in FY 2024-25

ACESO, a tech platform in insurance assignment business, is planning to add 60 more channel partners in the ongoing financial year. The company currently has 40 channel partners. "Currently, we have 40 channel partners and we want to add another about 60 more channel partner during this year," ACESO Founder Director Ketan B Mehta said. With this, the total number of partners would cross 100, he said, adding that they will help company grow business by connecting with policy holders and insurance agents. ACESO helps to monetise the endowment policies held by a life assured of LIC, to ensure financial benefits, along with continuation of risk cover till maturity, in cases where the policies are sought to be surrendered or lapsed. The company endeavours to achieve this objective through the assignment of endowment insurance policies of LIC to a registered Trust managed by SEBI registered Trustee viz. Beacon Trusteeship Ltd, Mehta said. He further said the company has recently launch

Microsoft informs its customers that Russian hackers spied on emails

The Russian government has never responded to the Microsoft hacking allegations

Apple, Meta platforms likely to face charges for violating EU digital law

The European Commission, which began investigating Apple, Meta, and Alphabet's Google in March under the Digital Markets Act (DMA), considers Apple and Meta to be priority cases

LG MyView review: Productivity-focused monitor with TV capability built-in

The LG MyView 27-inch is a well-rounded monitor that integrates essential connectivity options, a modest display, and smart features to cater to both professional and entertainment needs

Microsoft's UAE deal could transfer key US chips, AI technology abroad

US officials have said that AI systems could pose national security risks, for example by making it easier to engineer chemical, biological and nuclear weapons

India to showcase Ayushman Bharat digital mission at World Health Assembly

India will highlight its universal coverage through Ayushman Bharat, public health emergency preparedness and digital health transformations in the country at the World Health Assembly to be held in Geneva from May 27, official sources said on Wednesday. It will also showcase the Arogya Maitri Disaster Management Cube -- an indigenous portable hospital -- equipped with several innovative tools designed to enhance disaster response and medical support at the annual event organized by the World Health Organisation (WHO). The 77th session of the World Health Assembly (WHA) will be held in Geneva from May 27 to June 1. Indian delegation from the Ministry of Health and Family Welfare is being led by Union Health Secretary Apurva Chandra. Representatives from 194 countries will participate in the event to structure the global health ecosystem. The theme for this year's WHA is "All for Health, Health for All". The WHA comprises sessions in three main committees -- Plenary, Committee A and

Digital services firm UST to train over 25,000 employees in GenAI skills

Programme will 'upskill' more than 80 per cent of company's employees, it says

Data protection law needs clarity on risk threshold for breaches: Group

BSA, which represents the global software industry, wants companies to get at least 72 hours to report data breaches

Microsoft-backed cybersecurity firm Rubrik aims to raise $713 mn in IPO

Goldman Sachs, Barclays, Citigroup, and Wells Fargo are the lead underwriters for Rubrik's IPO

Digital infra solutions company iBUS raises $200 mn from govt's NIIF

Firm says it will use the funding to strengthen its market position and expand in new sectors

Musk launches X's 'Community Notes' programme in India: Here's how it works

The 'Community Notes' programme will allow contributors to participate in fact-checking tweets in order to create a more informed digital environment

EU probes Apple, Meta, Alphabet for 'non-compliance' under new digital law

According to the European Commission, some large online platforms act as "gatekeepers" in digital markets and the Digital Markets Act aims to ensure that these platforms behave in a fair way online

Robust regulations must to check digitalisation risks: RBI dy guv

Robust regulatory frameworks are needed to protect customers from misuse and fraud resulting from rapid digitalisation in financial services and proliferation of fintech platforms, RBI deputy governor Swaminathan J said while speaking at an event in Paris. Addressing the Global Money Week 2024 earlier this week, the deputy governor said the COVID-19 pandemic accelerated digitalisation in financial services, prompting a swift transition to online mode by service providers and customers, according to an RBI statement. Accompanying this surge in digitalisation was also the proliferation of fintech platforms, he said. Often operating outside the regulatory envelope and unconstrained by legacy systems that typically encumber traditional banks, fintech companies exhibit remarkable agility and adaptability in offering customised financial products, Swaminathan added. "These developments are indeed welcome. However, while they offer immense benefits such as accessibility and ...

Some public enterprises may be kept out of digital competition law

"It is an overarching section. Akin to the existing Law, Government has effectively kept room to make exemptions in a number of situations," said Sagardeep Rathi, Partner, Khaitan & Co

LTTS bags Rs 800 cr project from Maha govt to set up cybersecurity hub

L&T Technology Services on Friday said it has secured a USD 100 million (around Rs 800 crore) project from the Maharashtra government to establish a cybersecurity and digital threat analytics centre. The engineering services arm of infra major L&T has teamed up with KPMG Assurance and Consulting Services LLP as a forensics partner to provide advanced cyber security solutions for the state, enhancing public safety against cyber threats, according to a statement. The company said the contract is a first-of-its-kind programme in India, and a part of its initiative to develop digitally interconnected smart and safe cities through cyber security and digital forensic solutions consolidated under one umbrella. It said the project entails designing a sophisticated cybersecurity system and establishing a cyber security and cybercrime prevention centre to address cybercrime incidents and investigations by leveraging AI (Artificial Intelligence) and digital forensic tools. "It's an ...