UPI recorded 1.34 Bn transactions price INR 2.6 Lakh Cr in June 2020
TikTok’s Indian clone Mitron app has reached 17 Mn downloads and has raised seed funding spherical
DuckDuckGo, he privacy-oriented search engine, appears to have been blocked by some telcos in India
As per information launched by the Nationwide Funds Company Of India (NPCI), Unified Funds Interface (UPI) recorded 1.34 Bn transactions price INR 2,61,835 Cr in June 2020. UPI had recorded over 1.23 Bn transactions price INR 2.18 Lakh Cr final month. As compared, UPI transactions tanked to 990 Mn transactions in April, towards 1.25 Bn in March. The worth of transactions additionally fell reaching INR 1.51 Lakh Cr in April, towards INR 2.06 Lakh Cr in March 2020.
A number of the different transaction particulars shared by NPCI embrace:
- NETC FASTag registered 81.92 Mn transactions price INR 1,511 Cr in June 2020, in comparison with 55.17 Mn transactions price INR 1,142 Cr in Might 2020.
- IMPS recorded 198.68 Mn transactions price INR 2.06 Lakh Cr in June 2020, as towards 166.68 Mn transactions price INR 1.69 Lakh Cr in Might 2020.
The pandemic and the resultant lockdown affected the digital funds trade as all tour, journey and “non-essential” actions stopped. As the federal government determined to revive the economic system regularly, customers have discovered methods to return to their spending habits. The present UPI numbers are thus far the very best transaction the quick cost system has famous.
TikTok Responds To India Ban
Additional two days after ban on 59 Chinese language apps in India, together with TikTok, the corporate mentioned it has encountered an unlucky problem within the nation and is working with stakeholders to handle their issues, chief govt Kevin Mayer mentioned in a video townhall to staff in India. “TikTok continues to comply with all data privacy and security requirements under Indian law and places the highest importance on user privacy and integrity,” mentioned Mayer.
Within the aftermath of the ban, Indian options of TikTok and different social media platforms have seen better adoption. Sharechat mentioned it has been getting half 1,000,000 new customers an hour because the Indian authorities introduced a ban on 59 Chinese language apps. The apps which were banned embrace Bytedance-owned Helo, which was a direct competitor of Sharechat in India.
In keeping with Sharechat, the regional social media platform obtained 15 Mn new customers in 36 hours. With TikTok going offline, Chingari’s viewership nearly doubled to 370Ok customers per minute from the 187Ok customers previous to that.
Mitron Raises Seed Spherical
Two days after ByteDance-owned TikTok was banned in India, Indian brief video platform Mitron has raised an undisclosed quantity of seed funding. The funding has been led by 3one4 Capital and a LetsVenture syndicate checklist led by Arun Tadanki.
The corporate mentioned it would use the funds to speed up its product improvement roadmap, have interaction extra deeply with a large community of Indian content material creators who’re sharing movies on the app, and rent expertise to scale the tech infrastructure and put together for bigger person base with deeper engagement.
Based in 2020 by Shivank Agarwal and Ankit Khandelwal, Mitron app is a short-form social video app that permits customers to create, add, view, and share entertaining brief movies. The corporate has recorded 17 Mn downloads in a span of some weeks since launch.
On the similar time, with buyers leaping into the fray in a bid to spice up Indian gamers, it appears fascinating instances for corporations to fill the vacuum created after the ban. Buyers like Balaji S Srinivasan, Nexus Enterprise Companions’ Pratik Poddar and Accel India’s Prayank Swaroop have taken a lead calling Indian innovators to get in contact with them. However not everybody has been so optimistic about this India Inc takeover.
DuckDuckGo Banned In India?
DuckDuckGo, the privacy-oriented search engine, appears to have been blocked in India by sure telecom corporations. The event was noticed after a number of customers over the Web identified that they had been unable to entry the web site on their PCs and smartphones through Airtel and Reliance Jio cellular networks. The block can also be reported on Airtel broadband connections.
Nonetheless, neither the federal government nor telecom operators like Airtel and Reliance Jio have clarified the explanations for blocking DuckDuckGo in India. In the meantime, DuckDuckGo acknowledged person reviews concerning the situation and famous that the disruption was not from its finish. The search engine additionally mentioned that it was working with ISPs to grasp why it was not accessible to some customers.
LimeRoad Knowledge Leak & Extra
Round 1.29 Mn buyer data of ecommerce platform LimeRoad had been posted on the Darkish Net on the market, US-based cybersecurity agency Cyble mentioned. Nonetheless, the net market has denied the report. Calling allegations “baseless”, LimeRoad’s cofounder Suchi Mukherjee mentioned, “As of now, only 44 numbers are available for the sample, of which very few can match our users’ numbers. We have no reason to believe anything other than that this is a random selection.”
Google introduced the highest three groups qualifying for ‘Build for Digital India – Student Developers Solve for India’ program. The highest three qualifying groups are The Third Eye (pupil crew from MIT world Peace College, Maharashtra) for Good Cities & Infrastructure; Anukai Options (pupil crew from Chitkara College, Punjab) for Good Cities & Infrastructure and ISpeakFree.LY (pupil crew from Vishwakarma Institute of Know-how, Maharashtra) for Accessibility & Incapacity.