Browsing: India

India’s payments authority NPCI and fintech firm Razorpay are collaborating with OpenAl. They are piloting Al-driven payments on ChatGPT. This initiative will allow users to make purchases using India’s Unified Payments Interface. The pilot aims to explore expanding UPI for Al agents to complete transactions securely. Banking partners include Axis Bank and Airtel Payments Bank. Bigbasket is an early participant.

According to an official statement on Monday, Indian Council of Agricultural Research (ICAR) has launched a second edition of the BrazilIndia Cross-Incubation Programme in Agritech (Maitri 2.0) here

Company has raised $50 million in its expanded Series C funding round with fresh participation from UAE-headquartered CE-Invests, Singapore-based Panthera Growth Partners, and Japan’s SMBC Asia Rising

Amazon has completed the acquisition of Axio (formerly Capital Float), one of India’s leading digital lending and checkout finance providers, after securing regulatory approval from the Reserve Bank of India (RBI).

The companies have come to an understanding whereby Merck will offer its full suite of products and services, including high-purity electronic materials, advanced gas and chemical delivery systems, turnkey fab infrastructure services, and its Material Intelligence solutions powered by AI, for Tata Electronics’ upcoming Fab in Dholera, Gujarat.

Saudi Arabia and South Africa with high production of dates and agriculture produce respectively are seen banking on Indian innovation in food tech to achieve food security in their nations and boost production.

Ministry of Defence said the launch validated all operational and technical parameters and was conducted under the aegis of the Strategic Forces Command

Pacts were signed on areas including on connectivity, digitalisation, healthcare and medicine, skills development and advanced technology, an official statement said.

Existing investor Xponentia Capital also participated in the funding round. The new round of fundraise should be enough for the company to grow for the next 12-18 months without the need for a fresh equity round, said Yogi Sadana, founder of Zype.

RBI Governor Sanjay Malhotra indicated the possibility of further interest rate cuts this year, citing a significant drop in inflation and steady economic growth. With inflation expected to remain below 3.7%, the MPC will consider both inflation and growth before making future decisions.