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Apple suppliers created 50,000 jobs📱; UPI transactions of Rs125 Lakh Cr📈; RBI plans to expand digital rupee🪙
Apple suppliers have created 50,000 direct jobs, Indians made 7,404 crore transactions worth Rs 125 lakh cr, RBI plans to expand applications of CBDC, Funding Deals and more.
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Apple suppliers have created 50,000 direct jobs in India since Aug 2021📱
Apple's contract manufacturers and component suppliers have together created nearly 50,000 direct jobs in India since the production-linked incentive (PLI) scheme for smartphones came into effect in August 2021, government officials said.
Apart from the direct jobs, nearly 100,000 indirect jobs may also have been created by the Apple manufacturing ecosystem in the country, they said, citing data submitted by the companies.
Foxconn, Wistron and Pegatron are the contract manufacturers for Apple's iPhones in India. The component suppliers include Sunwoda, Avary, Foxlink and Salcomp.
Experts believe that Apple, through its contract manufacturers, may have become the largest provider of blue-collar jobs in India's fast-growing electronics sector.
UPI transactions hit record 782 crores in December📈
The number of transactions on the Unified Payments Interface (UPI) platform registered a new high in December when they hit 782 crores. The total value of these transactions also hit a new high at Rs 12. 8 lakh crore.
This represented a 7% growth in the number of transactions from November when 730 crore UPI transactions took place, and an 8% increase in the value of transactions, which stood at Rs 11.9 lakh crore in November.
In the whole of 2022, Indians made 7,404 crore transactions worth Rs 125 lakh crore.
Neobanking platform Jupiter has raised Rs 25 crore debt from Alteria Capital.
RBI plans to expand applications of digital rupee in future pilots🪙
The Reserve Bank of India is considering expanding the use cases of the digital rupee after it completes the ongoing pilot project of its central bank digital currency (CBDC). The regulator is also looking to add more banks to the e-rupee project.
The RBI launched a pilot for the retail version of the CBDC on December 1, 2022, testing use cases such as person-to-person (P2P) and person-to-merchant (P2M) transactions in a closed user group.
“Based on the learnings from the current pilot, other features and applications of e-rupee token and architecture may be tested in future pilots," the central bank said as part of its financial stability report. "The first phase has begun with four banks, and more banks will join this pilot subsequently.”
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