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  • Daily Indian Funding Roundup & Key News – 11 July 2025: Cookd Raises ₹16 Cr; Flipkart ESOP Buyback, HUL’s New CEO & More

    From Cookd’s pre-Series A funding to Flipkart’s ESOP buyback and regulatory updates in transport, here’s your quick roundup of the most important funding deals and business highlights for 11 July 2025.

    Daily Indian Funding Digest – 11 July 2025

    Company Amount Raised Lead Investor(s) Purpose
    Cookd ₹16 crore Spring Marketing Capital Expand in South India and enhance product line
    Gramik ₹17 crore Samman Global Ventures, others Strengthen rural distribution and scale to new areas

    Cookd raises INR 16 crore in pre-Series A round

    Cookd, a Chennai-based food brand, raised INR 16 crore in a pre-Series A round. Spring Marketing Capital led the round, joined by Eternal Capital, PeerCheque, and Sunicon Ventures.

    The company plans to use the funds to expand across Tamil Nadu and Kerala. It will also invest in new products like spice blends, cooking pastes, and biryani kits.

    Cookd has built a strong D2C presence with retail and quick-commerce partnerships. Its content marketing strategy has garnered over 6 million social media followers.

    Gramik secures INR 17 crore to boost rural agritech

    Gramik, a rural agritech startup, raised INR 17 crore in a bridge round. The round saw participation from Samman Global Ventures, Money Creeper Investment, and industry veterans like Balram Yadav and Irfan Alam.

    Gramik helps village-level entrepreneurs (VLEs) supply agri-inputs and advisory services to small farmers. It currently operates in 12 districts with 1,200+ VLEs.

    The fresh capital will support its expansion across Uttar Pradesh, Maharashtra, and Jammu. Gramik aims to reach over 3,000 VLEs and 1 million farmers before its planned INR 56 crore Series A.

    Key News Highlights for 11 July 2025

    Flipkart launches $50 million ESOP buyback initiative

    Flipkart has initiated a $50 million employee stock-option buyback, enabling around 7,000–7,500 current and former staff to sell up to 5% of their vested shares. This marks the company’s largest such liquidity effort and forms part of its strategy to reward and retain talent ahead of a potential IPO.

    Shiprocket introduces Shunya.ai to optimise supply chains

    Logistics firm Shiprocket has unveiled Shunya.ai, a sovereign multimodal AI assistant designed to streamline MSME supply chains. The tool utilises conversational AI (text/voice) to help sellers with courier selection, tracking, ETA estimates and customer alerts, all within its dashboard or API ecosystem. Built and hosted entirely in India, it aligns with data-localisation norms and positions AI as a strategic asset ahead of Shiprocket’s IPO aspirations.

    Awfis enters furniture manufacturing to reduce costs

    Co-working operator Awfis has expanded its business into furniture manufacturing and B2B sales. Following shareholder approval, the new arm will supply ergonomic work furniture for both its own centres and external businesses. This vertical integration is expected to reduce capital expenditure and open fresh revenue channels.

    PhonePe & Google Pay dominate UPI in June

    In June 2025, UPI transactions reached 18.4 billion worth INR 24.04 lakh crore. PhonePe led with 8.55 billion transactions (46.5% volume share, INR 11.99 lakh crore value), followed by Google Pay with 6.54 billion transactions (35.6% volume, INR 8.41 lakh crore value). Paytm held the third slot with 6.9% share (1.27 billion transactions). Together, PhonePe and Google Pay made up over 82% of UPI volume.

    Maharashtra reviews private bus aggregator operations

    Maharashtra’s transport ministry is initiating a regulatory review of private bus aggregators, such as Uber Shuttle and other app-based intercity services to ensure compliance with Motor Vehicles norms. This follows earlier scrutiny of bike taxi services and signals potential new licensing and safety regulations.

    Priya Nair appointed HUL’s first woman CEO & MD

    Hindustan Unilever Ltd (HUL) has named Priya Nair as Managing Director and Chief Executive Officer, effective 1 August 2025—the first woman to hold the position. Currently president of Unilever’s Beauty & Wellbeing division, Nair succeeds Rohit Jawa, who is stepping down after two years. Her appointment has received positive market reaction.

    Daily Indian Funding Roundup & Key News – 10 July 2025
    From Clean Fanatics’ funding to ED’s raid on Probo and action against celebs, here’s your roundup of key funding and business news on 10 July 2025.
    StartupTalkyStartupTalky News

  • One App, Many Rides: Metro & Bus Tickets Now on Namma Yatri and Tummoc

    In order to provide smooth first- and last-mile connectivity for commuters, the Bengaluru Metropolitan Transport Corporation (BMTC) and Bangalore Metro Rail Corporation Ltd. (BMRCL) have now opened up their transport data, enabling two apps, Namma Yatri and Tummoc. For more than ten years, this requirement has been in place.

    Users of both apps may now purchase a single ticket that covers the full trip and organise their entire travel thanks to new capabilities. For example, a commuter can use either application to plan their route and purchase a single ticket for the full trip if they are required to use all three forms of transportation (autorickshaw, bus, and metro).

    The apps create a synchronised travel schedule by using real-time data from buses and metro trains that run along the commuter’s route. Although real timing may be impacted by variables like traffic, this ideally enables commuters to access each public transport option right after disembarking from the previous one.

    Why it got Delayed?

    The fact that BMTC and BMRCL had not made their data publicly available was a barrier to the development of this function. However, this has since been resolved via the General Transit Feed Specification (GTFS), a widely accepted open data standard for public transportation that contains stop, route, and schedule information.

    BMTC has been supplying the platform with static data thus far, but it intends to start sharing real-time data shortly. At the moment, Namma Yatri provides trip planning that combines metro lines with auto-rickshaw services.

    Tummoc has begun the services, but Namma Yatri has not yet gone live. Along with comparable capabilities, Tummoc lets users monitor how much carbon emissions they reduce by opting for public transit rather than driving a private vehicle.

    After winning the Enroute: A Mobility-as-a-Service (MaaS) Challenge, which was organised by WRI, Mercedes-Benz Research and Development India (MBRDI), and Villgro, Tummoc and Namma Yatri collaborated to develop these functionalities and were awarded a INR 30 lakh grant in August 2024.

    In Bengaluru, Every Minute is Important-Kharge

    Minister of Electronics, IT, BT, Rural Development, and Panchayat Raj Priyank M. Kharge underlined the significance of these measures in tackling last-mile connection problems. In Bengaluru, travel is measured in hours rather than kilometres. “We recognise the issue and are dedicated to finding a solution,” he stated.

    With a 12% growth rate last year, Bengaluru is among the cities with the fastest rates of urbanisation in the world. “The city loses an estimated INR 20,000 crore annually as a result of lost time in traffic, which has a direct impact on production. Projections show we will grow by 8.5% annually over the next decade,” he added.

    He asserted that, in contrast, Delhi and Mumbai reportedly lose INR 60,000 crore and INR 40,000 crore yearly, respectively. Kharge added that the government wants to see 70% of the city’s population use public transit by 2030, compared to the current percentage of less than 50%.

    In light of this, he stated that the introduction of these integrated elements is a big step in promoting the broader use of public transit.

  • After Bike Taxis, Maharashtra Govt Turns the Heat on Bus Aggregators

    The Maharashtra government is once again targeting ride-hailing services like Uber, and this time for its bus service.

    Pratap Sarnaik, the transport minister of Maharashtra, reportedly vowed a crackdown on Uber Shuttle and other aggregator bus operators for failing to obtain a government permit for the service, a week after he pretended to be a rider and discovered violations in Mumbai’s bike taxi prohibition.

    According to a media outlet, the minister stated that severe measures would also be implemented against senior RTO officials who are in charge of “not taking action” against aggregator buses and bike taxis that are operating unlawfully in the city. In addition to Uber Shuttle, Cityflo, an aggregator bus operator, was also under governmental scrutiny for failing to get a permit.

    “When I questioned RTO representatives, they informed me that they had sent notices to the bus aggregators and were awaiting a response. However, they ought to carry out raids, punish them, or terminate the services,” Sarnaik stated.

    In the interest of commuters, he also emphasised the necessity of a policy for bus aggregators. He went on to say that in order to benefit a greater number of commuters, the government must create a policy for bus aggregators. However, permitting unlawful app-based bus operations has to be stopped.

    Uber Shuttle May Disappear from the App

    Following the news, Uber Shuttle services might be suspended and removed from the app, according to a media story that quoted sources. Many aggregator-controlled buses may stop operating out of concern for RTO action, according to a different article published by the daily on 10 July.

    According to the report, more than 450 buses are run by bus aggregators like Cityflo, Uber Shuttle, and others in Mumbai. Rapido was found breaking Maharashtra’s bike taxi prohibition last week by the transport minister.

    To confirm a senior official’s assertion that the app and illicit bike taxi services are non-operational, Sarnaik made a reservation for a bike taxi on Rapido in Mumbai on July 3 using a different identity.

    In contrast to the assertion, a bike taxi driver arrived quickly to collect the minister from the designated pickup location. The driver was counselled by the minister upon his arrival over the unlawful service, but he was not prosecuted.

    Tug of War Between Maharashtra Government and Rapido

    The controversy around bike taxis began in January 2023 when Maharashtra outlawed them and ordered the platforms to apply for a licence to operate there. Rapido then applied for a licence to provide bike taxi services in the state from the local transport department but was turned down.

    Following the department’s denial of the authorisation to function as a bike taxi aggregator, the ride-hailing app filed a challenge against the notification in the Bombay High Court. After learning that Rapido was operating without a permit, the HC also dismissed the aggregator’s request and ordered the business to halt its bike taxi services.

    A proposal to let bike taxis operate in the state was accepted by the Maharashtra Cabinet in April. According to Sarnaik, the new policy, which intends to encourage EVs, will only permit electric bike taxis to operate on public highways.

    The Maharashtra government published a gazette notice formalising the state’s bike taxi operating regulations following the July 3 incident. Aggregator platforms are required by the Maharashtra Bike Taxi Rules, 2025 notice to obtain a valid licence prior to providing bike-taxi services.

  • Hiring Giants Lay Off 1,300: Glassdoor and Indeed Trim Workforce

    According to multiple media sources, Recruit Holdings, the Japanese parent company of Indeed and Glassdoor, plans to lay off about 1,300 employees. This accounts for approximately 6% of the workforce in the HR technology segment of the organisation.

    The layoffs, which are mostly in the US, impact a number of departments across many nations and functions, including growth, people and sustainability teams, and research and development. Although Recruit did not specifically explain the reasoning behind these cuts, it is consistent with CEO Hisayuki “Deko” Idekoba’s remarks, which highlighted the revolutionary potential of AI.

    According to him, AI is transforming the world, and the company needs to adjust by making sure its product offers employers and job seekers genuinely amazing experiences.

    This change is similar to a pattern observed in other significant IT firms, such as Microsoft and Meta, which have also announced layoffs in order to prioritise AI efforts in the face of economic difficulties.

    Major Structural Overhauling in Recruit Holdings

    According to reports, Recruit Holdings will incorporate Glassdoor’s activities into Indeed as part of this organisational reorganisation. Christian Sutherland-Wong, the CEO of Glassdoor, will leave the company as a result of this integration on October 1.

    Furthermore, Ayano Senaha, the COO of Recruit, will take over as Indeed’s chief people and sustainability officer when LaFawn Davis steps down on September 1. In 2012, Recruit started working with Indeed, and in 2018, it acquired Glassdoor.

    These adjustments are a component of a larger initiative to streamline operations and concentrate on key business domains. This scenario fits into a larger pattern in the tech sector, where many businesses will lay off employees in 2025 as they deal with economic challenges and AI-driven restructuring.

    Notably, major layoffs have also been reported by other companies, including Automattic and TikTok. Even as they cut staff in other departments, businesses are putting more and more emphasis on AI positions. This change emphasises how crucial AI is becoming to determining the nature of work in the future.

    More than 1,00,000 Job Cuts in Tech Sector in 2025

    In 2025 alone, the tech industry’s current wave of layoffs has resulted in over 100,000 job losses worldwide. As they prioritise AI integration and adjust to shifting market conditions, major companies like IBM, Intel, and Microsoft continue to reduce their workforces.

    Microsoft, for example, just announced 9,100 layoffs that will impact its Xbox and gaming operations, among other departments. These layoffs serve as a reminder of the continuous difficulties businesses have in the quickly changing tech sector.

    Additionally, IBM has been laying off some 8,000 workers, primarily from its human resources division. This comes after an internal shift towards automation, where jobs that were formerly handled by human staff are progressively being replaced by AI systems.

    This change demonstrates how AI is increasingly affecting employment positions and the strategic realignments that tech businesses are undergoing. AI integration is changing the nature of work and the skills needed in the tech sector.

  • Breaking Barriers: Priya Nair Becomes First Woman CEO & MD of Hindustan Unilever

    In a landmark move in its 92-year history, Hindustan Unilever Ltd. (HUL) has appointed Priya Nair as its next managing director. On July 31, 2025, Rohit Jawa will step down, and she will succeed him.

    The appointment of Nair will take effect on August 1, 2025. This action makes Priya Nair the first female CEO and MD of HUL. In addition, she will continue to serve as a member of the Unilever Leadership Executive (ULE) and is expected to join the HUL Board, provided that the requisite approvals are obtained.

    At Unilever, one of the company’s fastest-growing international businesses, she presently holds the position of President, Beauty & Wellbeing.

    Professional Journey of Nair

    Since joining HUL in 1995, Nair has held a number of executive positions in the personal care, beauty, and home care sectors. Among her first positions were those of Consumer Insights Manager and Brand Manager for important brands like Comfort, Rin, and Dove.

    She started off as the laundry company’s marketing manager before rising to oversee client development, deodorants, and oral care. Prior to taking on leadership positions as Executive Director and CCVP for Homecare and later Beauty & Personal Care in South Asia, she was the General Manager for Customer Development for HUL’s western area.

    Nair rose in the world as a result of her impressive record in India. She joined Unilever’s Beauty & Wellbeing division in 2022 as Global Chief Marketing Officer, and in 2023 she was promoted to division president.

    From Classrooms to Career: The Journey Through Education

    Priya Nair graduated from Sydenham College of Commerce and Economics in 1987 with a Bachelor of Commerce (BCom) in Accounts & Statistics. From 1992 to 1994, she pursued an MBA in Marketing at the Symbiosis Institute of Business Management in Pune.

    She later enrolled in the Business Administration and Management program at Harvard Business School. Hindustan Unilever Chairman Nitin Paranjpe commended her performance history.

    “Priya’s career at HUL and Unilever has been exceptional. With her extensive knowledge of the Indian market and stellar performance history, I have no doubt that Priya will propel HUL to new heights,” he said in a corporate statement. Currently residing in London, Priya Nair is married and has a daughter.

    Rohit Jawa, who has been HUL’s CEO and MD since 2023, is succeeded by Nair. The company saw volume-led development under Jawa’s direction, navigating a difficult market characterised by a sluggish rebound in discretionary categories and dampened urban demand. According to HUL’s exchange filing, Jawa is leaving to pursue other options in both his personal and professional life.

  • Amazon Brings Lightning-Fast 10-Minute Delivery to Select Delhi Areas

    Following its initial debut in Bengaluru, Amazon has expanded its 10-minute delivery service, Amazon Now, to a few parts of Delhi. The business was excited about the favourable comments made by clients.

    This action demonstrates Amazon’s dedication to the quickly expanding quick-commerce market in India, where rivals Zepto and Blinkit have already seen notable success. Amazon Now offers a carefully curated selection of everyday necessities that are quickly delivered to satisfy customers’ urgent needs.

    According to an Amazon’ spokesperson, the company has always prioritised providing customers with a large selection together with quick and easy shipping.

    Amazon is thrilled with the first customer response and favourable feedback, especially from Prime members, as it launches its 10-minute delivery service, Amazon Now, in a few pin codes in Bengaluru and Delhi.

    Strategic Expansion to Explore New Markets

    In the upcoming months, the business intends to significantly develop this service. While attending to urgent customer requirements, Amazon Now upholds the company’s standards for safety, quality, and dependability, the spokesman continued.

    In December 2024, this service made its debut in Bengaluru, and in June, it was brought to Delhi. India’s quick-commerce industry is expanding quickly.

    Recent estimates indicate that during the Financial Year 2024–2025, Indians spent INR 64,000 crore on websites such as Blinkit and Instamart. Compared to INR 30,000 crore in the prior fiscal year, this amount more than doubled.

    Growing Nexus of India’s Rapid Commerce Sector

    According to research, the gross order value of the Indian rapid commerce (Q-commerce) market is expected to develop exponentially, nearly tripling from an anticipated INR 64,000 crore in FY25 to about INR 2 lakh crore by FY28.

    According to a report by CareEdge Advisory, a subsidiary of CareEdge Ratings, the Q-commerce market in India is expected to have grown at a startling CAGR of 142% between FY22 and FY25, reaching approximately INR 64,000 crore in FY25.

    This growth was fuelled by a lower base, hyperlocal infrastructure, and changing consumer preferences. Compared to the government, the Q-commerce market’s fee-based revenue has increased at a far quicker rate. With a noteworthy compound annual growth rate (CAGR) of 26–27% from FY25 to FY28, the fee-based revenue, which was INR 450 crore in FY22, increased to an estimated INR 10,500 crore in FY25 and is expected to reach INR 34,500 crore by FY28.

    According to the research, this dramatic rise is the result of major companies raising platform fees, which raises revenue realisation and significantly raises GOV overall. Even if the Q-commerce sector only accounts for about 1% of India’s enormous grocery market, it is precisely what makes it so fascinating.

    With its quick delivery service, Amazon entered this market, demonstrating its calculated attempts to take a piece of this growing industry. The company’s emphasis on offering dependable and speedy service is in line with Indian customers’ growing need for quick-commerce solutions.

  • India Becomes World Leader in Fast Payments — Speed Beats All

    According to an IMF statement, the rapid expansion of UPI has allowed India to surpass all other nations in terms of payment speed, while the use of traditional payment methods, such as credit and debit cards, is decreasing.

    The NPCI created the Unified Payments Interface, a real-time and instantaneous payment system, to enable mobile phone interbank transactions.

    According to the IMF’s Fintech Note, “Growing Retail Digital Payments: The Value of Interoperability,” UPI has expanded rapidly since its inception in 2016, while some stand-ins for cash usage have started to fall.

    India Now Processes 18 Billion Transactions Per Month

    “India currently pays more quickly than any other nation. Cash usage proxies have decreased concurrently,” the note stated. Using granular data spanning the universe of transactions on India’s UPI, an interoperable platform that has grown to become the largest retail quick payment system globally by volume, the note provides evidence in line with this methodology.

    According to the fintech report, UPI has expanded rapidly since its 2016 inception, although other indicators of cash usage have started to fall. In India, UPI currently handles over 18 billion transactions monthly and is the most popular electronic retail payment method.

    Fintech Notes provide policymakers with useful guidance on significant topics from IMF staff members. According to the report, interoperable payment systems like UPI offer an alternative to closed-loop systems and may encourage the use of digital payments. Users of various payment providers can make payments with ease thanks to these platforms.

    Digital Payments Outrun Cash Withdrawals

    The report went on to say that it is challenging to estimate cash usage since, particularly in the informal sector, cash transactions might take place anonymously and may not be documented in any ledger. “But we can estimate cash usage with the value of automated teller machine (ATM) withdrawals in each district,” the note continued. “A very similar picture emerges when we compare the effect of integration on transaction values to cash withdrawals,” it added.

    According to the note, areas that experience higher rises in de facto interoperability see a significant and sustained increase in the total number of digital payments compared to cash withdrawals following integration.

    According to this data, interoperability can help promote the shift away from cash and the use of digital payments. Maria Soledad Martinez Peria, Divya Kirti, and Alexander Copestake wrote the fintech note.

    The authors added that regulators should keep an eye out for the rise of dominant private providers and be ready to intervene to preserve a completely open, interoperable, and competitive system as the interoperable platform develops and additional providers join.

    According to the note, the system operator should ensure that its design decisions support the interoperable ecosystem’s health at every stage of development by consulting with existing and prospective private sector partners.

  • Daily Indian Funding Roundup & Key News – 10 July 2025: Clean Fanatics, Arteria Raise Funds; ED Raids Probo & More

    On 10 July 2025, Clean Fanatics and Arteria Technologies raised major funding to grow their business. Partners Group announced an INR 1,950 crore deal to acquire a majority stake in Infinity Fincorp. Meanwhile, the Enforcement Directorate raided Probo and seized assets.

    Here’s your quick roundup for funding and key business news for the day.

    Daily Indian Funding Digest – 10 July 2025

    Company Sector Round Amount Lead Investor(s) Use of Funds
    Clean Fanatics Home services platform Seed ₹17 crore (~ $2 m) Inflection Point Ventures + angels Team expansion, tech infrastructure, new verticals
    Arteria Technologies Supply‑chain SaaS & fintech Series B ₹100 crore (~ $11.7 m) ICICI Venture (IVen Amplifi Fund) AI‑product development, team hire, geographic expansion

    Clean Fanatics Raises $2 Million in Seed Round

    Bengaluru-based premium home services startup, Clean Fanatics, has raised $2 million in seed funding led by Inflection Point Ventures. The funds will be used to strengthen the team, enhance technology infrastructure, and expand into new verticals like civil renovation. With over 2,500 homes serviced monthly and strong user ratings, the company is poised to scale operations quickly.

    Arteria Technologies Secures INR 100 Crore in Series B

    Arteria Technologies, a supply chain SaaS and embedded fintech platform, has raised INR 100 crore in Series B funding from ICICI Venture’s IVen Amplifi Fund. The company plans to use the funds for hiring, expanding AI-driven offerings, and growing its presence across geographies. Arteria serves 100+ enterprises and aims to digitise complex B2B supply chains with embedded financial tools.

    Key News Highlights for 10 July 2025

    ED Raids Probo, Freezes INR 284.5 crore in Assets

    The Enforcement Directorate (ED) conducted raids on Probo, an opinion-trading platform, seizing and freezing assets worth approximately INR 284.5 crore. The probe, invoking the Prevention of Money Laundering Act (PMLA), alleges that Probo operated as an illegal gambling platform rather than a skill-based venture. In response, Probo has stated it is fully cooperating with authorities and remains confident in its compliance.

    ED Books 29 Celebs Including Vijay Deverakonda & Prakash Raj in Betting-App Probe

    The Enforcement Directorate has filed a money-laundering case under PMLA against 29 celebrities, including Vijay Deverakonda, Prakash Raj, and Rana Daggubati, for allegedly promoting illegal betting applications. The action stems from FIRs registered by the Cyberabad police in Telangana.

    Partners Group to Acquire Majority Stake in Infinity Fincorp for INR 1,950 crore

    Swiss private equity firm Partners Group is set to acquire a majority stake in Mumbai‑based NBFC Infinity Fincorp for INR 1,950 crore. The deal comprises a primary infusion of INR 600 crore and the purchase of existing shares, including those held by Jungle Ventures and Indium IV (Mauritius) Holdings. The funds will be used to expand branches, improve technology, and enhance customer onboarding.

    Flipkart Ventures Unveils ‘Leap Ahead 4.0’ Accelerator

    Flipkart Ventures has launched the fourth edition of its accelerator, Leap Ahead 4.0, offering equity investments of up to $500,000 and structured mentorship from Flipkart leadership. The initiative targets early-stage startups working on innovations across India’s digital economy.

    Pocket FM Sues Kuku FM

    Audio content platform Pocket FM has initiated legal proceedings in the Delhi High Court against rival Kuku FM, alleging the latter copied five audio series. Pocket FM is seeking INR 85.7 crore in damages and a permanent injunction on the use of its content formats. Kuku FM has dismissed the case as a “motivated charge.”

    X CEO Linda Yaccarino Resigns

    Linda Yaccarino, who has served as CEO of X (formerly Twitter) since May 2023, announced her resignation on 9 July 2025. She leaves after two years at the helm, overseeing the platform during challenging times, including controversies and advertiser scrutiny.

    Daily Indian Funding Roundup & Key News – 9 July 2025: Zepto Eyes $500M Raise, Starlink Gets India Nod & More
    Startups led the way on 9 July 2025, with Zepto reportedly raising $500 million. Here’s your quick roundup of the day’s key funding and business news.
    StartupTalkyStartupTalky News

  • UPI Heads to Africa: NPCI Signs Landmark Deal with Namibia’s Central Bank

    In order to create a real-time payments platform similar to the Unified Payments Interface (UPI), the Namibian central bank and the National Payments Corporation of India (NPCI) have inked a licensing deal.

    According to Dammu Ravi, secretary in the external affairs ministry, during a press briefing on the outcomes of Prime Minister Narendra Modi’s visit to the African nation, NPCI and the Namibian central bank have signed a licensing agreement to implement UPI in Namibia for real-time payments, making it the first country of its kind in the world.

    Namibia would be able to create a real-time payment system thanks to the agreement. Notably, more than a year ago, the Bank of Namibia and NPCI International Payments Limited (NIPL), the organisation’s international arm, originally inked a deal to create a digital payments system.

    India Agrees for Transfer-of-Technology

    As part of the collaboration, the NPCI committed to providing the Bank of Namibia with technology and other knowledge to aid in the creation of a digital payments system. In an effort to boost UPI use globally, the NPCI has inked agreements with a number of nations.

    The NIPL and Trinidad and Tobago’s ministry of digital transformation collaborated on the same project in September of last year. Before that, it was negotiating with South American and African nations to assist them in developing digital payment systems such as the UPI.

    The UAE’s Network International and the NPCI joined in July 2024 to enable Indian tourists to use UPI at a number of locations throughout the Gulf country. As a result, a number of nations, including France, the United Arab Emirates, Bhutan, Nepal, and Singapore, now accept UPI payments.

    UPI Expanding its Nexus

    The NPCI is still working to expand UPI in order to reach its daily goal of one billion transactions.

    In order to facilitate UPI payments through smart devices such as wearables, connected cars, and smart applications, the payments body is developing an Internet of Things version of the real-time payment system.

    Last month, there were 18.40 billion UPI transactions, totalling INR 24.04 lakh crore. For India’s fintech infrastructure, the recent collaboration with Namibia is undoubtedly a significant victory.

    The UPI system, which has been praised for being accessible to all societal levels in India, is now beginning its global expansion and creating opportunities for other countries to follow.

    Johannes Gawaxab, the governor of Namibia’s central bank, had earlier underlined that the goal of implementing UPI is to guarantee the deployment of a safe and effective national payment system in Namibia in addition to promoting financial inclusion and reducing reliance on cash.

  • ED Targets Celebs: Vijay Deverakonda, Prakash Raj Among 27 Booked in Betting App Scam

    Based on a First Information Report (FIR) submitted by the Cyberabad police in Hyderabad, Telangana, the Enforcement Directorate (ED) has opened an investigation against 29 celebrities in relation to a purported betting application fraud.

    Prominent actors Vijay Deverakonda, Rana Daggubati, Manchu Lakshmi, Prakash Raj, Nidhi Agarwal, Ananya Nagalla, and television host Srimukhi are among those named in the case. The ED is presently looking into the digital trail and financial activities connected to the mentioned people. Investigations are still in progress.

    25 people, including Rana Daggubati, Prakash Raj, Manchu Lakshmi, and Nidhi Agarwal, were charged by the Miyapur Police in Cyberabad on March 19 for allegedly endorsing betting applications.

    What FIR States?

    Sections 318(4) and 112, read with Section 49 of the Bharat Nyay Sanhita, Section 4 of the Telangana State Gaming Act (TSGA), and Section 66-D of the Information Technology Act, were the charges against the actors and media influencers, according to the First Information Report (FIR) that a media group sought.

    These clauses address internet deception, unlawful gambling marketing, and fraudulent activities. According to the FIR, Nidhi Agarwal with Jeet Win, Vijay Deverakonda with A23, Manchu Lakshmi with Yolo 247, Praneetha with Fairplay, and Rana Daggubati and Prakash Raj were linked to the promotion of Junglee Rummy.

    According to the accusations, the influencers and actresses used internet pop-up ads to promote these betting sites, possibly inciting people to gamble illegally.

    Responses from Celebs

    In a post on X, Prakash Raj clarified his stance by stating that he had supported a gaming app in 2016 but had pulled out in 2017 after determining it was improper.

    He claimed that since then, he has not advertised any gaming apps and that he would react if the cops came up to him.

    Rana Daggubati, meanwhile, claimed that his support for a skill-based gaming platform expired in 2017 and was limited to areas that were legally allowed. Citing the Supreme Court’s ruling that separates skill-based games from gambling, his legal team made sure that everything was in line.

    ED Tightening Screws on Gaming Apps

    In relation to the marketing of prohibited betting sites like 1xBet, FairPlay, Parimatch, and Lotus365, the ED previously questioned actors Sonu Sood and Urvashi Rautela, as well as former cricket players Harbhajan Singh, Yuvraj Singh, and Suresh Raina, last month.

    A money laundering scheme connected to illicit gaming and betting applications through Kirana outlets was also discovered by the federal government last year.

    According to reports, the owners of the Kirana stores thought they operated under the RBI’s domestic money transfer (DMT) program and were ignorant of their involvement in unlawful gaming.