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The Digital Personal Data Protection Act, 2023 (also known as DPDP Act or DPDPA-2023) is an act of the Parliament of India to provide for the processing of digital personal data in a manner that recognises both the right of individuals to protect their personal data and the need to process such personal data for lawful purposes and for matters connected therewith or incidental thereto. [1]
With UPI representing 62% of digital payment transactions in FY 2022–2023, it has been the primary driver of the overall development of digital payment transactions in India. [105] In January 2024, the value of UPI transactions reached ₹18.41 trillion, a slight increase of 1% from ₹18.23 trillion in December 2023. From 12.02 billion in ...
The features include allowing digital rupee transactions when a customer is offline and linking the e-rupee to India's popular Unified Payments Interface (UPI), three
As of 2023 there are 907.4 million internet users in India (64% of the population), a 35% increase since 2018. [3] 63% payments still being made in cash. E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes.
There were 2.2 billion UPI transactions in October with Google, WhatsApp, Walmart and Amazon fueling India's digital payment space. But the usage of cash has witnessed an "abnormal rise."
The Reserve Bank of India started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions ...
As of 2023, Namma Yatri has over 1.7 lakh drivers on board and 40 lakh riders who had reserved 20 million rides using the application. [156] On 18 December 2023, the Hyderabad Auto & Taxi Drivers Association announced the release of a new ride-hailing app supported by ONDC protocols.
The Digital Rupee (e₹) [6] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [7] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [8] Digital Rupee is using blockchain distributed-ledger technology. [9]