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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The architect of Aadhaar and UPI is working on a blockchain platform for the RBI’s proposed digital currency.
Editor's note: The Indian Software Product Industry Roundtable, or iSPIRT, has ambitious plans for the Reserve Bank of India’s digital currency project. The technology think tank wants to build a blockchain platform for the central bank’s digital currency. The platform that the Bengaluru-based organization is working on is called Bharat Distributed Ledger—or BADAL—and it is likely to present the plan to the RBI. The idea is to build a ready-to-use blockchain infrastructure that can be integrated with India Stack. Since its inception in 2013, iSPIRT has played an active role in building key digital platforms for the government. In 2016, it launched India Stack as part of the government’s Startup India initiative. India Stack is a set of free, open-source application programming interfaces, or APIs, developed by iSPIRT. These APIs include services that enable companies and regulators to verify a person’s identity against the Aadhaar database. This forms the basis of most digital transactions in India, including Aadhaar, the Unified Payments Interface, the Open Network for Digital Commerce and the Central Know Your Customer repository. In a blog post published in January, …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
