Banks May Take 3 Years For Tech Merger

Banks may take 2-3 years to standardise core technology, products and customer applications after the government proposed to merge some prominent public sector lenders last week, analysts said. “The integration process would take 24-36 months. Website, mobile apps, IVR —…

Mukesh Ambani Sets Out To Dominate Digital India

For all the publicity blitz accompanying Mukesh Ambani’s $30bn charge into the digital economy, the details of his long-term strategy remain a closely guarded secret. Mr Ambani’s Reliance Jio venture has upended India’s telecom sector, devastating the profits of incumbent operators…

India Has Added Two New Tech Unicorns In Just The Last Month

2019 is turning out to be great for Indian internet ventures. It’s not even mid-way into the year, and the country has already seen two internet firms achieve unicorn valuations, and at least one more is close to the milestone.…

Who Wins And Who Loses If India’s Draft eCommerce Rules Are Implemented

In proposing to tighten the rules around e-commerce, India is both offering respite and ruffling feathers in equal measure. The draft e-commerce policy released by the Modi government on Feb. 23 is poised to shake up the country’s nearly $40 billion (around Rs2.8 lakh crore) online…

E-commerce Policy Draft: DPIIT Digs Heels On Data Localisation

Following the ‘data is oil’ argument often used by businesses, the latest e-commerce policy draft focuses on different aspects of data localisation, while also seeking to establish data as an economic resource, said experts. The government has made its intent to regulate…

Visa, Mastercard, Amex In Breach As Deadline For Data Localisation Passes

As the deadline for payment companies to comply with the Reserve Bank of India’s (RBI) data localisation rule ran out, major payment network players, including Visa and Mastercard, were in breach. While there was no official word on the status…

Digging Deeper – Data localisation: RBI deadline ends

The RBI's deadline of 15 October for all payment system operators to comply with the central bank’s data localisation norms just went by. Companies like Visa, American Express, Facebook, PayPal, Mastercard, Google and WhatsApp are required, as per the Reserve…

Visa, Mastercard, Amex In Breach As Deadline For Data Localisation Passes

As the deadline for payment companies to comply with the Reserve Bank of India’s (RBI) data localisation rule ran out, major payment network players, including Visa and Mastercard, were in breach. While there was no official word on the status…

RBI Unlikely To Extend Oct 15 Deadline On Data Localisation

The Reserve Bank of India is unlikely to extend the October 15 deadline for the payments ecosystem players to set up a facility to store transaction-related data in India. Those players that do not comply with the central bank’s April…