UPI transactions jump to 482.36 M; Morgan Stanley bets big on Indian startups

Friday November 02, 2018 , 3 min Read

Using the physical attributes of an individual, the Style-At-Iz platform recommends styles and can even connect you to a style guru! Founder Swati Padamraj's aim is to make people look good every day, regardless of their income bracket. Style-At-Iz is a machine learning platform has been trained on the attributes of thousands of individuals through Swati's design practice. To simplify it, people log in and input their body type after which the platform figures out the inventory of a retailer, and begins suggesting different styles. With a B2B model designed to help retailers connect with their customers better, it charges based on the number of customers that interact on the platform.

Swati Padamraj, founder of AtIz Fashion House

The National Payments Corporation of India (NPCI), which is the umbrella organisation for retail payments in the country, on Thursday said that the total number of Unified Payments Interface (UPI) transactions in the country stood at 482.36 million in October. This is an 18.8 percent increase from September, when the total number of UPI transactions were at 405.87 million, marking this the slowest increase in transactions on the UPI network since August.

When the current government took over in 2014, there were many moves to ban porn sites – with limited success. In 2015, 857 porn sites were indeed banned, but it didn’t make much of a dent in this industry, and so the order was rescinded. In the latest crackdown on online porn in India earlier this week, internet service providers (ISPs) were told to ban 827 such websites, including the popular PornHub and XVideos. Users are already using turnarounds like VPNs (virtual private networks) and some are even turning to YouTube to find racy videos before they are removed from the site.

In what can be termed a setback to online pharma players, The Madras High Court on Wednesday passed an interim injunction restraining the sale of medicines through the online mode, with immediate effect. The injunction was granted on a petition filed by the Tamil Nadu Chemists and Druggists Association. It claimed that online pharma sellers were selling drugs in violation of the Drugs and Cosmetics Rules, 1945. Physical retailers wanted a ban on online sales till the centre created a legal framework permitting online sales.

With a degree from Standford and a legacy as the son of Chief Minister Chandrababu Naidu, Nara Lokesh has a lot to offer. The Minister for IT and Communication, Panchayat Raj and Rural Development of Andhra Pradesh speaks about growing up under his father's shadow, and outlines his plans to achieve the goals of the state. "Beyond IT and fintech, Andhra Pradesh is looking to become India’s happiest state," he says.

Morgan Stanley, the global financial services powerhouse has begun its engagement with the startup ecosystem in India. The key platform of Morgan Stanley CTO Innovation Summit, which connects with the startups in the United States, was held for the first time for Asia in Bengaluru recently. Bobby Gilja, MD and CIO for Corporate and Funding Technology, and Chakra Mantena, MD and Head of Technology India of Morgan Stanley, say they seek long-term partnerships with startups in India with their technology solutions and also help these young firms to break into large enterprise customers.