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FY23 results for Myntra, ZestMoney, Curefoods, Unacademy, Sugar Cosmetics, and Kapiva presented a mixed picture on Wednesday, with surging revenues being mostly offset by wider losses. This and more in today's ETtech Top 5.
RBI Digital Currency: Union Bank of India aims to adopt Reserve Bank of India's digital rupee for employee benefit schemes, encouraging CBDC wallet transactions among staff members. Initially, the bank plans to credit specific allowances directly to the digital wallet, yet encounters resistance from some employees, prompting a protest from the All India Union Bank Employees Federation. They advocate for management to consult staff before enforcing this initiative.
The RBI had in December 2022 started the retail pilot of its digital currency.
ICICI Bank has announced that their digital rupee (e) app 'Digital Rupee by ICICI Bank' now allows millions of clients to pay to any retailer QR code. The Bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable.
ICICI Bank's introduction of UPI interoperability on its digital rupee app expands the usage of digital rupee and provides flexibility to customers