Author: News Desk

Unified Payments Interface (UPI) in India has set a new benchmark in digital transactions, processing nearly ₹81 lakh crore from April to July 2023. This remarkable figure represents a 37% increase year-over-year (YoY) and positions UPI ahead of major global digital payment platforms. Record-Breaking Transaction Numbers According to Paysecure, UPI has achieved a staggering 3,729.1 transactions per second, marking a 58% increase from the previous year’s 2,348 transactions per second. This surge in transaction volume has allowed UPI to surpass leading platforms such as China’s Alipay, PayPal, and Brazil’s PIX in transaction counts. In 2023 alone, UPI processed 117.6 billion…

The State Bank of India (SBI) has launched a revamped version of its FASTag, aimed at streamlining toll collection and reducing commuter wait times. This new design specifically targets Vehicle Class 4, which includes cars, jeeps, and vans, and is expected to significantly improve toll transaction efficiency. Benefits of the New FASTag Design The redesigned FASTag promises several advantages for commuters. One of the key improvements is faster toll payments. The new design facilitates quicker processing of toll transactions, which is set to reduce wait times at toll plazas and make the overall driving experience smoother and more efficient. Additionally,…

The Atal Pension Yojana (APY), launched by the Union government in 2015, aims to offer financial security to individuals in the unorganised sector upon retirement. This pension scheme is particularly beneficial for those who are not income taxpayers. It enables them to invest a modest amount regularly and receive a fixed pension upon retirement. Eligibility and Contributions The APY is available to Indian citizens aged 18 to 40 who do not pay income tax. Those who are already tax-payers have been ineligible since October 2022. Subscribers contribute a nominal premium regularly—monthly, quarterly, or half-yearly—until the age of 60. After reaching…

Navya Nanda, a name that resonates with luxury and influence, is the heiress to a vast fortune and a multifaceted career. At just 26, she stands out not only for her family legacy but also for her significant contributions to business and social causes. Heiress to a ₹7014 Crore Conglomerate Navya’s lineage places her at the helm of considerable wealth. Her father, Nikhil Nanda, is the Chairman and Managing Director of Escorts Kubota Limited, an Indian engineering conglomerate with a revenue of ₹7014 crore as of 2021. Nikhil holds a 36.59% stake in the company and earns an annual salary…

Sultan Hassanal Bolkiah’s Istana Nurul Iman, the Sultan’s primary residence, holds the title of the largest residential palace globally. Covering an immense 200,000 square metres, the palace is a marvel of luxury and scale. The palace boasts 1,788 rooms and 257 bathrooms, catering to both grand events and private needs. Its five swimming pools, grand banquet hall, and 110-car garages reflect a lifestyle of unparalleled opulence. The Istana Nurul Iman also includes a private zoo with Bengal tigers and various bird species, highlighting the Sultan’s affinity for lavish and unique features. The palace even houses an air-conditioned stable for 200…

Dubai’s beloved Global Village will reopen on October 16 for its 29th season, running until May 11. The park will be open daily from 4 p.m. to 2 a.m. Tuesdays are designated for women, families, and couples. Ticket Information While official ticket details for this season are yet to be announced, expect similar options to last year: weekday value tickets for Dhs25 and any-day tickets for Dhs30. Free admission is provided for children under three, senior citizens, and people of determination. Discounts are available through the app, with weekday tickets at Dhs22.50 and any-day tickets at Dhs27. What’s Included Tickets…

The Saudi Central Bank (SAMA) has officially partnered with Samsung to introduce Samsung Pay in Saudi Arabia by the fourth quarter of 2024. This agreement was finalised during the inaugural 24 Fintech conference held in Riyadh, marking a significant milestone in the Kingdom’s digital payments landscape. Advancing Digital Payments in Saudi Arabia This collaboration underscores SAMA’s dedication to enhancing digital payment systems in line with the Financial Sector Development Program, a pivotal component of Saudi Arabia’s Vision 2030. The initiative aligns with the broader goal of transitioning towards a less cash-reliant society by leveraging advanced digital payment solutions. Enhancing Digital…

India’s government is setting ambitious goals for its alcoholic and non-alcoholic beverages, targeting $1 billion in exports in the coming years. Currently ranked 40th globally in alcoholic beverage exports, India sees significant potential for growth. Major markets of interest include the UAE, Singapore, the Netherlands, Tanzania, Angola, Kenya, and Rwanda. Expanding Export Horizons The Commerce Ministry’s APEDA (Agricultural & Processed Food Products Export Development Authority) is spearheading efforts to boost Indian beverage exports as part of the ‘Make in India’ initiative. The aim is to elevate India’s position in the global market, leveraging the growing international demand for Indian spirits.…

Quick commerce platforms are renowned for their constant experimentation and adaptability, which keeps them relevant in a fast-evolving market. As these platforms solidify their presence in metropolitan areas, they are now setting their sights on Tier 2 cities to capture a broader consumer base. Blinkit Leads the Way Blinkit, led by Zomato, has recently expanded its footprint into Kochi. As announced by Albinder Dhindsa on LinkedIn, the first store in Kochi, located in Kaloor, will cater to areas including Kaloor Stadium, Palarivattom, and Jawahar Nagar. This launch, just before the Onam festival, marks a significant step in Blinkit’s strategy to…

Abu Dhabi (EAD) has introduced its inaugural sea cages aquaculture project, incorporating an advanced monitoring and data collection system powered by artificial intelligence. This groundbreaking approach, the first of its kind in the Middle East, will use environmental sensors to monitor marine water quality parameters, temperature, pH, salinity, dissolved oxygen, turbidity, and ammonia levels. Underwater and surface cameras will track fish behaviour and feeding efficiency, while a smart gateway, powered by solar panels, will facilitate data transmission. Project Overview The project features six floating sea cages designed to yield 100 tonnes of fish annually. It focuses on cultivating local high-value…