Digital Economy
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Government e-Marketplace Achieves Record Sales Turnover, Surpasses Rs 4 Lakh Crore Mark in 2023-24
This achievement underscores the portal's distinctive digital capabilities, fostering enhanced efficiency, transparency, and seamlessness in public procurement, the ministry highlighted.
Import restrictions on PCs, tablets to ensure trusted hardware & systems: Centre
Minister of State for Electronics and IT, Rajeev Chandrasekhar, said that India is becoming one of the world's fastest growing markets for digital products including laptops and servers etc.
Cash use decline as UPI to drive India's e-com market to reach $150 bn in 2026
UPI recorded the biggest year-on-year growth of 74.1 per cent in transaction volume as of January 2023 and digital wallets grew from 5 per cent in 2019 to 35 per cent of POS value in 2022 stimulated by UPI, according to the '2023 Global Payments Report' by global financial technology leader FIS. With cash use declining from 71 per cent.
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value
According to the data by the National Payments Corporation of India (NPCI), the value of transactions hit nearly Rs 13 trillion in January. The volume of transactions was 7.8 billion, and value was Rs 12.8 trillion in December. This milestone proves that the country is now firmly on the path to becoming a digital-first economy.
Collapsed crypto exchange FTX claims $415 mn hacked
FTX CEO John J. Ray III said that about $323 million was hacked from its international exchange and $90 million from its US platform. "We are making important progress in our efforts to maximise recoveries, and it has taken a Herculean investigative effort from our team to uncover this preliminary information," he said.
UPI payments failed on NY Eve, shoppers hassled
People using UPI-based services faced trouble with sending and receiving payments on New Year Eve. Taking to the micro-blogging platform Twitter, several users reported the issue. While one user asked, "Is it only me facing UPI payment errors?", another said, "UPI payments down....last 1hour not working.According to downdetector.com, a website that monitors online outages, 53 per cent of people reported the issue with their UPI application, 37 per cent complained of issue during payments and 11 per cent reported that they faced trouble with funds transfer.
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