Archives for rbi
Only 20.8% of surveyed entities using or developing AI, with adoption skewed towards large banks.
The post RBI’s Prescription to Fin Sector Using AI: Trust is Non-Negotiable, Go People First appeared first on Analytics India Magazine.
Only 20.8% of surveyed entities using or developing AI, with adoption skewed towards large banks.
The post RBI’s Prescription to Fin Sector Using AI: Trust is Non-Negotiable, Go People First appeared first on Analytics India Magazine.
Mobile payments are one of the fastest-growing markets in India today. After the rise of the United Payment Interface for quick and easy online payments, India has been fast to adopt the technology. The mobile-first payment interface has gained 3 billion transactions since it launched in mid-2016. The payment system was built as a layer…
The post Multilingual Support Will Help Increase Adoption Of Mobile Payments In India, Says Gaurav Raina Of MPFI appeared first on Analytics India Magazine.
Despite high internet usage and smartphone penetration, India has lagged behind in implementing cybersecurity best practices. This includes the security of websites and government databases. The negative effects of this has been held off by the lack of intent for individuals to exploit the weaknesses. However, the field is quickly changing, with India becoming one…
The post RBI Increases Focus On Cybersecurity As India’s Digital Payment Craze Peaks appeared first on Analytics India Magazine.
Despite high internet usage and smartphone penetration, India has lagged behind in implementing cybersecurity best practices. This includes the security of websites and government databases. The negative effects of this has been held off by the lack of intent for individuals to exploit the weaknesses. However, the field is quickly changing, with India becoming one…
The post RBI Increases Focus On Cybersecurity As India’s Digital Payment Craze Peaks appeared first on Analytics India Magazine.
In the latest move in a back-and-forth between Indian regulators and foreign companies, the United States has allegedly told India that it is considering restricting the popular H-1B work visas for the country. This is a risky move for India’s position in the global labour market, as over 70% of all H-1B visa applicants are…
The post RBI’s Data Localization Sees Backlash From US, May Restrict H-1B Visas appeared first on Analytics India Magazine.
The Reserve Bank of India recently released a statement addressing the concerns of financial technology companies operating in the country. After enforcing stringent data localization norms on FinTechs operating in the country, the RBI has revised its stance. Upon a meeting of the Commerce Minister with heads of e-commerce and technology companies, the Government released…
The post RBI Relieves Pressure On Fintechs: Data Localization Bill Under Reconsideration appeared first on Analytics India Magazine.
For better or for worse, India’s data localisation norms have begun their last phase of implementation across the fintech market. Multinational payment giant Mastercard recently announced that they have started deleting the data of Indian citizens from overseas servers. This move comes after Mastercard began storing the data locally in October 2018. In its Pune…
The post Mastercard Begins RBI Data Localization Compliance By Deleting Indian Users Data appeared first on Analytics India Magazine.
The Reserve Bank of India (RBI) on May 15 released its latest vision statement that lays the foundation for the country’s payment and settlement ecosystem by emphasising on innovation, cybersecurity, and customer protection. The RBI’s Payment And Settlement Systems In India: Vision – 2019-2021, aims to transform India into a cash-lite economy and ensure that…
The post RBI’s Push Towards Digital Payments Can Make India A Cashless Economy By 2021 appeared first on Analytics India Magazine.
Former RBI Governor Raghuram Rajan Raises Concerns About AI & Automation Taking Away Skilled Jobs
Former Reserve Bank of India (RBI) governor, Raghuram Rajan, is among the list of high-profile people to raise concerns about the fear of job loss in the wake of increased dependency on automation and artificial intelligence (AI). Rajan, who served as the 23rd RBI Governor from 2013-2016, was delivering the keynote address at 2019 ECOSOC…
The post Former RBI Governor Raghuram Rajan Raises Concerns About AI & Automation Taking Away Skilled Jobs appeared first on Analytics India Magazine.