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TLDR: RBI’s NUE framework led to concerns among payments industry, BigBasket to offer one-hour delivery, free TV shows on YouTube, and more

Payments industry raises concerns over RBI’s draft NUE framework

In their responses to the Reserve Bank of India’s (RBI) draft framework on new umbrella entities (NUEs) for retail payments, entities in the payments sector took issue with the central bank’s move to initiate a licensing process for NUEs before establishing a system of licensing for retail payment systems, according to a Financial Express report. Several other entities said it was a bad idea to exclude foreign players from holding controlling stakes in licensed NUEs, the report said.

  • The RBI had proposed letting other umbrella entities besides the NPCI grab a piece of India’s burgeoning payments market in order to reduce concentration risks and promote competition.
  • Consortiums led by Reliance, Tata, and Paytm were among many others.
  • But the RBI decided to put issuing NUE licenses on hold and set up a five-member committee to study applications and submit recommendations. 

Read: New Umbrella Entity: Everything You Need To Know About NPCI’s Potential Rival(s)

BigBasket offers one-hour delivery services of 8,000 products

E-grocery store BigBasket is ready to launch BB Express, a one-hour delivery service with 7,500-8000 products, according to an Economic Times report. The service is set to go live next month and will be driven by the company’s 62 large-scale dark storefronts. Bike will be used for most of the deliveries, the report said.

Infosys to buy digital marketing agency for €50 million

IT firm Infosys is looking to buy oddity, a digital marketing agency located in Germany, for 50 million euros (about ₹419 crores), as per TNIE. “With oddity’s digital commerce and marketing knowledge as well as its metaverse-ready set-up, it is the perfect complement to Infosys’ prowess in technological transformation,” Infosys President Ravi Kumar S was quoted as saying.

Jio’s Asteria Aerospace launches software platform for drones

Jio Platforms’ division Asteria Aerospace has launched a cloud-based software platform called SkyDeck for providing Drone-as-a-Service (DaaS) solution for several industrial verticals, NDTV reported.

YouTube will provide free, ad-supported TV shows

YouTube will soon begin broadcasting free, ad-supported TV series, putting it in direct competition with the expanding number of free streaming services on the market, as per TechCrunch. The company announced that it will initially provide over 4,000 free TV episodes to its US subscribers, including “Hell’s Kitchen,” “Andromeda,” “Heartland,” and others.

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Splitting fares feature is currently unavailable on Uber

Uber plans to temporarily disable the option to split fares next month, as per The Verge. The company is now rewriting how riders share prices, and a new, enhanced version is expected to be released in the coming months, the report added.

Technology Alliance working on making passwords obsolete

The Technology Alliance, which has more than 250 members, has been working since 2013 to eliminate the need for passwords by developing a new, more secure industry standard for online authentication, Mint reported.

Sony Entertainment to purchase Canadian Gaming company

Sony Interactive Entertainment has announced its plans to purchase Haven Entertainment Studios, a Canadian game production company, according to an Economic Times report.

Sandbox, Alphabet’s Quantum Tech group to become a separate company

Sandbox, Alphabet’s quantum technology group, will be turning itself into a separate company with Jack Hidary as its CEO, as per CNBC.

Microsoft’s source code stolen by Lapsus$ hackers with ‘limited’ access

Microsoft confirmed Lapsus$ hacking group’s DEV-0537 penetrated “a single account” and acquired the source code for various Microsoft products, The Verge reported. In an archive containing approximately 37GB of data, the group claimed to have a file containing partial source code for Bing and Cortana, as per the report.

US Antitrust authorities demand Activision and Microsoft for data

The US Federal Trade Commission has requested further information from Activision Blizzard and Microsoft in connection with the antitrust probe of the acquisition, Reuters reported.

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A wandering soul finding solace in the tidbits of life and the little things it has to offer. Follow me on Twitter @realpal21

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