India logged 23.06 billion transactions amounting Rs 38.3 trillion in the third quarter this year, said Worldline India’s Digital Payments Report. The Unified Payments Interface (UPI) clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value. The volume and value of UPI transactions almost doubled since last year, with an increase of 88% in volume and over 71% in value in Q3 as compared to the same quarter last year. UPI person-to-merchant (P2M) and person-to-person (P2P) became the most chosen payment method among consumers, accounting for 42 per cent of
The digital transformation (DX) spending in India is expected to reach $85 billion by 2026, as Indian organisations aim to reduce costs by increasing efficiency, improving security, and enhancing customer experience through tech-enabled digital transformation, said an International Data Corporation (IDC) report on Tuesday. More than 95 per cent of Indian companies plan to increase DX spending or maintain at the same level in 2023, the report added. DX is about accepting the right technologies. It combines people, processes, and operations that give companies the ability to develop and r
India has climbed to the 48th position in the global aviation safety ranking by the International Civil Aviation Organization (ICAO), said the Directorate General of Civil Aviation (DGCA) on Saturday. Four years ago, the country was ranked at the 102nd position. In the latest ICAO ranking, Singapore is at the top, followed by the UAE and South Korea at the second and third positions, respectively, the officials said. China is at the 49th place, they added. Under its Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach, an ICAO Coordinated Validation Mission
The Indian Railways registered a 76 per cent increase in revenue from the passenger segment between April and November year on year to total approximate earnings of Rs 43,324 crore against Rs 24,631 crore achieved during the corresponding period last year. In a statement issued on Friday, the Indian Railways said, in the reserved passenger segment, the total approximate number of passengers booked was 53.65 crore between April 1 and November 30 against 48.60 crore during the year-ago period. It is an increase of 10%. The revenue generated in this segment during the period grew 50 per cent
Union Minister of State for Science & Technology, Dr. Jitendra Singh has said that India’s bio-economy has grown eight times in the last eight years from $10 billion in 2014 to over $80 billion in 2022. Dr Jitendra Singh Singh was addressing the International Conference on Emerging Trends in Biosciences and Chemical Technology in Shri Mata Vaishnodevi University, Katra, on Saturday. In his address, he said biotech start-ups have grown 100 times in the last eight years from around 52 to over 5,300. He said, a total of 1,128 biotech start-ups were set up in 2021 alone, indicating the r
Indian students have overtaken Chinese students as the largest group of foreign students studying in the United Kingdom. Students from India registered a huge jump of 273 per cent in visas granted over the past few years, said the UK Home Office data. The data collated by the Office for National Statistics (ONS) reveals that there were 1,27,731 (study visa) grants to main applicant Indian nationals in the year ending September 2022, an increase of 93,470 (273 per cent) compared to 2019 (34,261). The new Graduate Route visa introduced in July 2021 to allow international students the chan
Indian Railways' oldest living station, Mumbai’s Byculla has received UNESCO’s Asia Pacific Cultural Heritage Conservation award of merit for restoration work done in the last three years. The railway station commissioned in 1853 was recently renovated and restored to its almost original, Gothic, heritage architectural glory. Non-governmental organisation I Love Mumbai, headed by Shaina NC, and The Bajaj Group Charitable Trust carried out the restoration work of the Central Line railway station of the Mumbai Suburban Railway station. Renowned heritage conservation architect Abha Narain
The President of Egypt, General Abdel Fattah El-Sisi will be the Chief Guest for the Republic Day Parade in 2023. This is the first time that the President of the Arab Republic of Egypt will be the Chief Guest at our Republic Day, the Ministry of External Affairs (MEA) said in a press release, underlining the “warm and friendly relations” between the two countries based on civilizational and deep-rooted people-to-people ties. This year, India and Egypt are marking the 75 years of the establishment of diplomatic ties. The MEA in the release stated that India has invited Egypt as the
External Affairs Minister S Jaishankar visited the all-women Ima market in Imphal on Sunday. The market, also known as the Mothers’ Market, Ima Keithel, or Nupi Keithel, is said to be nearly 500 years old and is solely managed and run by women. Sharing the video and photos from his visit on Twitter, Jaishankar called the market a “great example of Nari Shakti powering economic growth." The minister is in Manipur for a three-day visit, which began on Saturday, to attend the ongoing Manipur Sangai Festival 2022. In Ima Keithel, around 5,000 women shopkeepers hold licenses. These licen
India is now the world’s second-largest gamer base with over 369 million gamers, says a report by games market intelligence platform Niko Partners. The country makes up 50.2 per cent of all gamers in the top 10 Asian countries' list, according to the data provided by the market research firm. Indian gamers spend 14 hours per week on average on mobile games. The report added that India is also the fastest growing market with a 5-year growth rate of 21 per cent for revenue, mentioned in the report The Asia-10 Games Market. Niko Partners projects the Asia-10 PC and mobile game market wil