In a surprising move, Sachin Bansal, the founder and former CEO of Navi Group, has stepped down from his position as the company’s chief executive officer. But don’t worry—Bansal isn’t leaving Navi. Instead, he’s taking on a new, influential role as executive chairman. This shift in leadership is set to bring fresh changes to Navi Group, with two longtime team members stepping up to lead…
RBI and IIMA Ventures Join Forces to Empower Women Entrepreneurs with Tech Solutions
In an exciting development aimed at boosting women’s financial inclusion in India, the Reserve Bank Innovation Hub (RBIH) has partnered with IIM Ahmedabad’s incubator, IIMA Ventures, to launch the Swanari TechSprint 3.0. This new startup program is designed to foster innovative fintech solutions that address…
UPI Hits Record 16.73 Billion Transactions in December – What’s Driving the Growth?
In a remarkable feat for India’s digital payments system, Unified Payments Interface (UPI) transactions soared to an all-time high in December 2024. The total number of UPI transactions reached a staggering 16.73 billion, marking an 8.08% increase from the previous month’s 15.48 billion transactions.
This…
The Reserve Bank of India (RBI) has forecasted a robust 7.2% growth in the country’s real GDP for the fiscal year 2024-25, supported by a rise in both urban and rural demand. RBI Governor Shaktikanta Das announced this projection on Thursday, attributing the optimistic outlook to continued investment demand and rising consumption across sectors.
The RBI’s forecast breaks down the expected GDP…
Unexpectedly since its commencement, Unified Payments Interface or UPI has crossed Rs 4 trillion worth exchanges in a month. As per NPCI, the advanced installments framework has recorded 2.23 billion exchanges adding up to Rs 4,16,176.21 crore or Rs 4.16 trillion in December 2020.
This is a 1% hop in volume and a 6.4% flood in an incentive for UPI from November which had seen 2.21 billion…
