NPCI to Decline UPI Transactions That Contain Special Characters in the Transaction ID

The National Payments Corporation of India (NPCI) issued a new notification earlier this month announcing new compliance guidelines. The new rules are aimed at all the members of the Unified Payments Interface (UPI), and state that any transaction identifier (ID) that contains special characters will be declined starting February 1. The notification is aimed at … Read more

Budget 2025: Tech in Focus With Framework for GCCs, New ‘Fund of Funds’ for startups, CoE for AI

New and emerging technologies were in focus in the Union Budget, as Finance Minister Nirmala Sitharaman announced a national framework for Global Capability Centres (GCCs), Rs 500-crore Centre of Excellence in AI for education, and said a deep tech ‘Fund of Funds’ will be explored to catalyse the next generation startups. A new Fund of … Read more

Finance Minister Proposes ID Cards for Gig Workers, UPI-Linked Credit Cards for Street Vendors

Finance Minister Nirmala Sitharaman, in her Budget speech today, announced that her government will provide ID cards to gig workers. Gig workers will also be provided access to healthcare via a social security scheme. She said her government will invest in street vendors and online and urban workers. Gig workers of online platforms to be … Read more

Government Axes Import Tax on Some Smartphone Parts in Boost to Apple, Xiaomi

The government has removed import duties on some components key to producing mobile phones, Finance Minister Nirmala Sitharaman announced in the annual budget on Saturday, in a boost for local production efforts and benefiting firms such as Apple and Xiaomi. India’s electronics production has more than doubled in the last six years to $115 billion … Read more

5 Things to Know About Key Technology-Related Announcements From the Union Budget 2025

Finance Minister Nirmala Sitharaman on Saturday announced several new measures and schemes as part of the Union Budget 2025. The second budget of the NDA government’s third term will expand broadband connectivity to government schools, and take efforts to boost manufacturing of solar cells, grid-scale batteries, and other products. The budget will also provide insurance … Read more

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