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Unified Payments Interface (UPI)

UPI Transactions Skyrocket, India Leads in Digital Payments

India's digital economy has witnessed a significant milestone with the National Payments Corporation of India (NPCI) reporting a record-breaking surge in Unified Payments Interface (UPI) transactions in August. The data revealed a 41% year-on-year growth, with UPI transactions reaching an all-time high of 14.96 billion. Sep 1, 2024
Car manufacturers offer up to Rs 20,000 discount under new scrapping policy Car manufacturers offer up to Rs 20,000 discount under new scrapping policy

India's New Vehicle Scrapping Policy to Boost Cleaner and Efficient Vehicles

India's Vehicle Scrapping Policy encourages the replacement of old vehicles with cleaner ones, offering substantial discounts on new purchases. Major car manufacturers are offering discounts of 1.5% of the ex-showroom price or Rs 20,000, while Mercedes Benz India offers a flat discount of Rs 25,000. The policy also includes benefits like scrap value from Registered Vehicle Scrapping Facilities and tax concessions. The initiative aims to promote cleaner, safer roads and combat pollution, requiring coordination between manufacturers, scrapping facilities, and the government. Aug 29, 2024
Prime Minister Narendra Modi

PMJDY: A Decade of Financial Inclusion in India

The Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme, launched in 2014, has integrated over 53.14 crore economically marginalized individuals into mainstream banking. The scheme has seen a 3.6-fold growth in accounts, providing access to formal banking services and promoting financial inclusion. The PMJDY scheme has also promoted gender equality and rural inclusion, with 67% of accounts opened in rural or semi-urban areas and 55% by women. The success of PMJDY in promoting financial inclusion in India is comparable to similar initiatives globally, like M-Pesa in Kenya and Grameen Bank in Bangladesh. Aug 28, 2024
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