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India’s move to diversify its digital payment system presents a massive opportunity for technology giants such as Amazon, Facebook and Google, who are keen to tap the country s rapidly expanding market.
The Reserve Bank of India (RBI), the country’s central bank, invited companies last year to apply to establish alternatives to the retail digital payment network run by the government-operated National Payments Corporation of India (NPCI).
The move is expected to reduce the country s dependence on one network and mitigate risks. It can also help companies looking to gain a foothold in India’s burgeoning digital payments industry, analysts say.
Need to do more: Bid to resolve Rs 5-lakh crore pain point for MSMEs sees tardy progress
Synopsis
Costs for MSMEs to do business is rising in all sorts of ways. Unpaid dues are central to their woes.
For the financially starved MSME sector, securing outstanding payments from various businesses remains a challenging task-an issue that often affects their very survival.
Whenever an MSME does not receive payments for the goods or services rendered within the stipulated times, it certainly affects them in several ways. Besides crippling their liquidity, it brings down their motivation and also leads to a significant erosion of their trust in
Indians Still Use Tik Tok App After Ban, Here s How Jan 28, 2021, 11:26 IST
Following the dispute between India and China, the central government banned many of the Chinese apps. The list was long and exceeded over 60 apps. Among the list was also an audience favorite app, Tik Tok that became famous in India. Many people even became tiktok sensations.
The famous video sharing platform was banned in India on 29 June, 2020. The ban left many people devastated. But even after the app has officially been taken off the app stores, Indians are still using it. They found a way out of the ban.