UPI Transactions Up By 40% In October
There has been a significant surge in consumer spending in India during the festive season, as people splurged on various items like smartphones and TVs, propelling the country's economic growth. E-commerce platforms such as Amazon.in and Flipkart.com saw nearly a 20 per cent surge in sales in the first week of the festive period compared to last year. Additionally, digital payments through Unified Payments Interface (UPI) increased by 40 per cent in October compared to a year earlier.
Experts attribute this trend to easing inflation and increasing wages, particularly in rural areas. Notably, the latest figures from the central bank show that consumer confidence reached a four-year high in September. Despite interest rate hikes throughout the year, there is a strong demand for bank loans, nearing a 12-year high.
Spotify's Vineeta Dixit Is Now At IAMAI
Spotify's Vineeta Dixit, Regional Director (APAC), has assumed the role of the chairperson at IAMAI's Public Policy Committee, with Sandeep Aggarwal and Senthil Kumar appointed as co-chairs. They succeed the previous leaders from Reliance Jio, Amazon, Paytm, and Koo following elections for the committee's leadership.
Since its establishment in 2004, the IAMAI, a non-profit organization, serves as the industry body representing the digital services sector. With a membership of over 550 Indian and multinational corporations, it encompasses established companies across various digital sectors and includes startups within its network.
Microsoft Rolls Out New Windows 11 Update
Microsoft has started the rollout of the latest update for its Windows 11 PC operating system, introducing several new features. A key highlight of the new update, identified as Windows 11, version 23H2, involves the renaming of Microsoft Teams to Chat. John Cable, VP of programme management for Windows servicing and delivery, stated in a Tuesday blog post that "Chat is now Microsoft Teams (free) and is pinned by default to the taskbar."
He further explained, "When you click to launch Microsoft Teams, you will discover a mini communications experience that makes it possible to chat, call, meet, and create a space for community groups to come together, organize, and share ideas in just a click or two." Additionally, the Windows 11 2023 update introduces enhancements to app management. System components in Windows 11 are now labeled as "system" and are categorized into a new section within settings.
UK-Based Software Firm Trademarked The Name Threads Over A Decade Ago
UK-based software company has issued a 30-day ultimatum to Facebook parent Meta to stop using the name Threads in the UK, citing its ownership of the trademark. The British software company, Threads Software Limited, in communication through its legal representatives, has formally notified the the Facebook parent. If Meta fails to discontinue the use of the name Threads, a touted rival to X, formerly Twitter, Threads Software Limited intends to pursue a legal injunction through the courts.