IIT Madras to collaborate with MPFI to boost digital money transactions in India ANI | Updated: May 10, 2021 16:35 IST
Chennai (Tamil Nadu) [India], May 10 (ANI): Indian Institute of Technology (IIT) Madras researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions in multiple vernacular languages to enable larger adoption of digital money transactions in the country. At present, there are more than 100 million active Unified Payments Interface (UPI) users every month in India, as per the Indian government s statistics. These initiatives are being taken up by MPFI towards bringing 500 million active users by 2025, read an official statement.
May 15, 2021
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“The sharp spike in coronavirus cases across the country has led to a shortage of beds and oxygen, causing untold hardships to the patients. These initiatives are in line with our commitment to augment the efforts of the government to help our country tide over these unprecedented times.” said Prof. Ajit K. Chaturvedi, Director, IIT Roorkee.
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India’s technological prowess has come to the fore at a time when the country’s government has struggled to make much of an impact.
Within days of the country opening up its vaccination drive for all adults, a host of techies and tech startups have stepped up to solve issues relating to CoWin, the government platform for booking vaccine appointments. From launching websites that generate emails when vaccine slots open up to sending notifications via instant messaging apps, Indian techies are working overtime to make the vaccination drive runs smoothly.
Team of researchers working on voice-based solutions in regional languages Researchers at the Indian Institute of Technology (IIT-Madras) are working on voice-based solutions in regional languages to boost digital money transactions.
The researchers are collaborating with the Mobile Payment Forum of India (MPFI) to develop such solutions in several regional languages.
The forum aims to identify innovation in human behaviour and adoption; technology with regard to design and safeguard; and policy that would provide a data-centric view.
Gaurav Raina, faculty in the Department of Electrical Engineering, said digital and mobile payments were efficient and mitigate the risk against COVID-19 infection. The researchers will offer their expertise in machine learning and artificial intelligence as applied to digital payment space by making back-end technology more robust and secure and creating a useful digital data history and footprint.
Prof Ram Mohan is an Associate Professor in Business Policy Area since 2017 at IIM Ahmedabad. Prior to this he was Associate Professor at Department of Policy Studies, TERI University from 2015 to 2017. He served at Regulatory and Governance Division:
TERI, New Delhi from 2004 to 2012 and served as Research Faculty at Centre for Law, Technology and Development, National University of Juridical Sciences (NUJS), Kolkata from 2001 to 2003. Apart from this he was a practicing Advocate at Trivandrum District Court, Kerala from 1997-1999.
Known for his flair for research and writing, Prof Ram Mohan has been keen on research. His research interests have been in the areas of Commerical and Business Law, Studies on Judiciary, Law, Strategy and Organizations, Business and Professional negligence, Energy and Infrastructure law, Restatement of Indian Contract Law.