BUSINESS
Over 100 countries exploring their own digital sovereign currencies
Over 100 countries, including India, are exploring or piloting Central Bank Digital Currencies (CBDCs), a digital form of a country's sovereign currency. Among the G20 countries, 19 are exploring a CBDC, with 16 already in the development or pilot stage. They include South Korea, Japan, India and Russia, according to The Atlantic Council's Geoeconomic Centre.
Indian e-rupee to boost digital payments sans bank accounts
The rollout of the e-rupee has been one of the most sought-after developments, since its announcement in the FY23 Union budget. Jaya Vaidhyanathan, CEO of BCT Digital, said that the RBI's commencement of the pilot of the digital rupee marks appreciable progress in the journey toward digital payments.
Digital currency to cut RBI's cash management costs, drive financial inclusion
A key reason that is considered to have triggered the move towards the digital rupee was reducing the cost associated with physical cash management. An RBI concept note says that the cost of cash management in India has continued to be significant. The total expenditure incurred on security printing during April 1, 2021 to March 31, 2022 was Rs 4,984.80 crore as against Rs 4,012.10 crore in the previous year (July 1, 2020 to March 31, 2021).
Ready to deal in digital rupee? Find out what exactly it is
The RBI had further announced that within a month of this pilot project of digital rupee (eRs), a similar project for the retail segment would also be launched in closed user groups comprising customers and merchants. Details regarding this would be made public soon, it had added.
Twitter to let users post long-form tweets, help creators monetise: Musk
In a series of tweets, the new Twitter CEO said that more details about these features will be revealed in the next two weeks. "Twitter will soon add the ability to attach long-form text to tweets, ending the absurdity of notepad screenshots," Musk told his over 114 million followers.
Apple settles lawsuit against ex-employee who stole trade secrets
"Apple and Lancaster have reached an agreement to resolve this matter, which includes a monetary payment by Lancaster to Apple and the dismissal of the claims in this case," read the settlement order in the US District Court for the Northern District of California.
Markets to gain further ground
BSESENSEX gained 990.51 points or 1.65 per cent to close at 60,950.36 points while NIFTY gained 331.35 points or 1.86 per cent to close at 18,117.15 points. The broader indices saw BSE100, BSE200 and BSE500 gain 1.91 per cent, 1.97 per cent and 1.93 per cent respectively. BSEMIDCAP gained 2.39 per cent while BSESMALLCAP gained 1.46 per cent respectively.
Elon Musk tests $8 Twitter Blue with verification on iOS
The applications latest update on App Store mentioned that the users have to pay for the new plan to get verified on the platform "just like the celebrities, companies, and politicians you already follow." Esther Crawford, product manager at Twitter confirmed the plan is not live yet but some users "may see us making updates because we are testing and pushing changes in real time."
Kirloskar Ferrous to merge Indian Seamless Metal with itself
The ISMT is an integrated specialised seamless tube manufacturer in India. As per the scheme of arrangement and merger, Kirloskar Ferrous will allot 17 fully paid-up equity shares of Rs 5 each, to the shareholders of ISMT for every 100 fully paid-up equity shares of Rs 5 each held by the shareholders (except Kirloskar Ferrous).
Jack Dorsey sorry for mass layoffs at Twitter, says grew company too quickly
"Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment. I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that," Jack Dorsey posted.
Don't Miss
Advertisement