DRI seizes dry dates worth ₹9 cr illegally imported from Pak
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Business Standard
2 hours ago
- Business Standard
The cost of free: UPI's exponential growth strains limits of subsidies
Industry players add that while other monetisation-friendly avenues are emerging for UPI, those require to be developed further to offset the impact of free transactions Ajinkya Kawale Subrata Panda Mumbai/New Delhi Listen to This Article India's most successful digital payments story — the Unified Payments Interface (UPI) — is free for consumers but far from costless. As Reserve Bank of India (RBI) Governor Sanjay Malhotra recently reminded, someone is footing the bill, and for now, it is the government. That raises a pressing question: how long can subsidies sustain UPI's explosive growth? The government wants transaction volumes to expand tenfold, but industry participants, including fintechs and banks, say the UPI ecosystem may be nearing a tipping point where technology and operational costs are difficult to absorb. Several executives argue that UPI still has the potential
Time of India
7 hours ago
- Time of India
Online Gaming Bill, 2025 : Encourages legitimate gaming & safeguards against predatory gambling
India's digital revolution in the last 11 years has transformed our country. From UPI payment system to 5G connectivity and the semiconductor ecosystem, Digital India is empowering crores under the leadership of Prime Minister Narendra Modi. But with these advances come new threats, especially in the online gaming industry, whose unbridled expansion has promoted addiction, financial devastation and even death. The Promotion and Regulation of Online Gaming Bill, 2025, brought on August 20, 2025 is a bold and much-needed measure to utilize the potential of gaming while protecting society from its dangers. The timeliness of this bill cannot be overemphasized. Predatory online money gaming applications, usually based in offshore tax havens, have targeted vulnerable Indians, particularly our young, with deceptive plans and hollow promises of instant wealth. The fallout is catastrophic: A man in Bandipora lost Rs 1.5 crore, leaving his family homeless; in Mysuru, a father and two sons took their lives after devastating gaming losses. Karnataka saw 32 suicides of gamers in merely 31 months which was a public health emergency. These websites don't only hurt people; they facilitate financial fraud, money laundering and even terror financing, putting the nation's security at risk. The 2025 Bill acts upon these threats with fineness and restraint. It prohibits online money games encompassing betting, gambling, fantasy sports and lotteries with stringent punishment: 3-5 years imprisonment and Rs 1-2 crore fines for operators, advertisers and facilitators of finance. The Online Gaming Authority, vested with power under the Information Technology Act, 2000, will block unlawful sites and enforce compliance. The important point is that this is not an assault on gaming itself. The Bill is a champion of e-sports as a legitimate sport, setting up training academies and incentives, and encouraging social and educational games that promote skill-building and cultural values through the Ministries of Electronics & IT and Information & Broadcasting. This bill is a protector of India's youth, who constitute more than 65 per cent of our population. Through age verification, limiting expenditure, and grievance redressal systems, it safeguards families from the psychological as well as economic burden of addiction. Data localisation and synchronization with the Financial Intelligence Unit stamp out illicit trade, bringing digital gambling laws into line with physical-world legalities such as those in the Bharatiya Nyaya Sanhita, 2023. Such provisions establish a secure digital community, technology working for people, not predators. Key provisions of the Promotion and Regulation of Online Gaming Bill, 2025 1. Promotion and recognition of e-sports -e-sports recognised as a legitimate form of competitive sport in India. -Ministry of Sports to frame guidelines and standards for conduct of e-sports events. -Establishment of training academies, research centres, and technology platforms for advancement of e-sports. 2. Promotion of social and educational games -Central Government empowered to recognise, categorise, and register online social games. -Facilitation of platforms for development and distribution of safe, age-appropriate social and educational games. -Awareness programmes on the positive role of social games in recreation, skill-development and digital literacy. -Support for cultural and educational gaming content aligned with Indian values. 3. Prohibition of harmful online money games -Complete ban on offering, operating, or facilitating online money games, irrespective of whether based on skill, chance, or both. -Ban on advertising and promotion of money games across all forms of media. -Ban on financial transactions linked to online money games; banks and payment systems barred from processing such payments. -Empowerment to block access to unlawful gaming platforms under the Information Technology Act, 2000. 4. Establishment of an online gaming authority -Central Government to establish a national-level Authority or designate any existing Authority or Authorities or any agency for oversight. From an economic perspective, the Bill is the driving force for wholesome growth. India's gaming industry, set to expand to Rs 25,000 crore by 2028, has the potential to create more than 2 lakh jobs. By offering a transparent regulatory environment, the Bill promotes ethical investment and innovation, especially in tier II and III cities, making India a gaming export leader in the world. It's a reflection of Modi government's 'Minimum Government, Maximum Governance' ethos, with an extension of digital payments and data protection reforms to create a safe, innovation-led Digital India. The Promotion and Regulation of Online Gaming Bill, 2025 is not policy—it's a matter of conscience to safeguard our children and ensure our country's future. In checking exploitation while fostering ingenuity, it ensures gaming as a force for good without falling prey to addiction and trap laid by gambling platforms. India will not let exploitative platforms harm its citizens. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
Business Standard
9 hours ago
- Business Standard
AssetPlus Brings Faster SIP Payments with UPI AutoPay
VMPL Chennai (Tamil Nadu) [India], August 20: AssetPlus, India's leading digital platform for Mutual Fund Distributors (MFDs), today announced the launch of UPI AutoPay for Systematic Investment Plans (SIPs) through an integration with the Bombay Stock Exchange (BSE). This new capability allows investors to authorise recurring payments directly from their preferred UPI app, marking a significant leap towards faster, more convenient, and more transparent SIP mandate registration. For years, SIP mandates have relied on net banking-based eMandates or paper-based authorisations. Processes that often delayed investments, saw high failure rates, and required multiple steps that discouraged retail investors from completing their registrations. The introduction of UPI AutoPay changes this narrative entirely. With UPI AutoPay, clients can approve a SIP mandate in minutes, using nothing more than their Virtual Payment Address (VPA) and UPI PIN. Once a distributor initiates the process from the AssetPlus Partner Dashboard, the client receives a secure link via the AssetPlus client app and email. This link takes them to a simple interface to enter their UPI ID. The UPI app, be it Google Pay, PhonePe, Paytm, or others, then prompts them to approve the request. A token of ₹1 debit is made to confirm the mandate's activation, which is refunded promptly, ensuring that the client is fully informed and in control. "Our goal at AssetPlus has always been to remove friction from the investment process," said Awanish Raj, Co-founder and CTO, AssetPlus. "UPI AutoPay aligns perfectly with that vision, transforming what was once a multi-day, cumbersome process into a secure, mobile-first experience that can be completed in a matter of minutes." The feature sets a default limit of ₹15,000 per SIP, covering the vast majority of retail investments without requiring repeated PIN authorisations. For higher-value SIPs, traditional net banking mandates remain an option. Importantly, UPI AutoPay allows clients to pause or cancel their mandates directly from their payment app, giving them unprecedented visibility and control over their recurring payments. This development also reflects India's ongoing evolution towards a fully digital financial ecosystem. The National Payments Corporation of India (NPCI) has been actively promoting UPI-based recurring payments for everything from subscriptions to loan repayments. By bringing this capability to SIPs, AssetPlus is ensuring that mutual fund investing keeps pace with the broader digital payments revolution. "Technology should empower, not overwhelm," added Vishranth Suresh, Co-founder and CEO, AssetPlus. "For our MFD partners, this means fewer failed mandates, quicker SIP activations, and a smoother onboarding experience for clients. For investors, it's about trust, transparency, and the freedom to invest on their terms." With this integration, AssetPlus reaffirms its commitment to building tools that bridge the gap between financial products and the everyday investor, simplifying the journey to wealth creation while strengthening the capabilities of distributors across India. About AssetPlus AssetPlus is India's leading digital platform empowering over 15,000 Mutual Fund Distributors (MFDs) with cutting-edge technology, seamless investment solutions, and comprehensive support. Founded with a vision to simplify and expand mutual fund distribution, AssetPlus has more than 3.5 lakh SIPs registered to date, an Assets Under Management (AUM) of over ₹5,000 crore, and recognition as one of the largest SIP platforms in India. Becoming a trusted partner for distributors nationwide, AssetPlus combines innovation, regulatory excellence, and deep industry expertise to empower both distributors and investors to thrive in a digital-first economy. For more information, visit Media Contact: Anjali Nair PR Manager anjali.n@
