Reading Time: 9 mins The Supreme Court, on March 2020, had struck down RBI’s controversial circular that prohibited any central bank regulated entities from providing banking services to anyone dealing with virtual or cryptocurrencies. This ruling allows banks to handle cryptocurrency transactions. Though this may threaten the country’s financial system, it does provide an opportunity for the government and the central bank to form regulatory frameworks and laws that, while allowing the use of cryptocurrencies, can ensure preventive measures that can counter private cryptocurrencies.
Reading Time: 7 mins Recently, the Union Ministry of Science and Technology has informed about the progress of the National Supercomputing Mission. India has produced just three supercomputers since 2015, less than one per year on average, under the National Supercomputing Mission. This is in stark contrast to China, which in the last six months had added 8 more supercomputers, increasing the number to 227. The Indian Government is planning to install three more supercomputers by April 2020 and 11 new systems will likely be set up in different IITs, NITs, National Labs and IISERs across the country by December this year. The main reason behind India’s slow progress is the lack of funds during the initial years. Now, the project has gathered momentum due to the government’s support and its realisation of the technology’s potential in addressing problems faced by mankind.
Reading Time: 4 mins FASTag is made mandatory for all vehicles, private and commercial, from January 15, 2020. According to the FASTag transactions data released on January 1, 2020, by National Payments Corporation of India, about 6.4 crore FASTag transactions, worth Rs.1,256 crore, were processed in December against 3.4 crore transactions worth Rs.774 crore in November. Paytm Payments Bank issued over 40% of all FASTags in December. Currently, the government is taking the necessary steps to promote it.
Reading Time: 6 mins The government has set the target of achieving 100% Electric vehicles by 2030. Manufacturing and putting the electric cars on road is the vision to make India pollution free along with saving billions of dollars in fuel cost and creating new job opportunities. However, there are also criticisms that India is not yet ready for electric vehicles which we will discuss in this article with a suitable way forward.
Reading Time: 9 mins Fifty years ago, smartphones would have been the ultimate computing wizardry. Just as classical computers were almost unimaginable to previous generations, we’re now facing the birth of an entirely new type of computation, that is, quantum computing. The country which is able to control the future of quantum technology can become an “Information Superpower” and …
Reading Time: 7 mins
Blockchain technology, also known as the decentralised, distributed ledger technology, has gained popularity in India in the last 2 years. According to studies, in the next 5 years, Blockchain has the potential to add value to the tune of USD 5 billion across all sectors in India.
Various banks in India have been increasingly adopting this technology. Utilising this distributed ledger technology, a group of India’s 11 largest banks including ICICI Bank, Kotak Mahindra Bank, HDFC Bank, Yes Bank, Standard Chartered Bank, RBL Bank, South Indian Bank, and Axis Bank have launched the 1st ever blockchain-linked loan system in the country. This not only guarantees transparency in loan disbursement but also eliminates any communication challenge among the different banks.
Reading Time: 3 mins Recently the Prime Minister has launched the indigenously-developed National Common Mobility Card (NCMC).Dubbed as ‘One Nation One Card’, the inter-operable transport card would enable the holders to pay for their travel expenses (bus, metro, railways), toll taxes, parking charges, retail shopping and even withdraw money across the country.This type of system already exists in various developed countries like UK, Singapore, etc. and now it will be used in India too.
Reading Time: 4 mins Recently, Hyperloop Transportation Technologies (HTT) unveiled its first full-scale passenger capsule. It will travel from Los Angeles to Las Vegas (434 km) in just 20 minutes. In this article, we will discuss what, why, when and how of Hyperloop technology and its implementation status in India.