UPI Growth: Is India's Digital Payment Future at Risk?

OpenAI has introduced Codex CLI, a new AI coding agent that can perform programming tasks on a user's terminal. This tool brings the capabilities of advanced AI directly to users, allowing for easier management of coding projects. Codex CLI works with macOS and Linux, while Windows support is still being developed. It offers different modes for editing code, such as Auto Edit and Full Auto, allowing users to choose how much control they want. OpenAI emphasizes privacy, ensuring that users' code remains secure. To encourage developers, they are also offering $1 million in API grants.

Microsoft’s latest Cyber Signals report reveals a worrying rise in AI-assisted scams targeting job seekers and online shoppers. Over the past year, the company has stopped $4 billion in fraud attempts, with scammers using advanced AI techniques to create fake job listings and e-commerce sites. They often impersonate real companies, making it hard for individuals to spot deceitful offers. The report emphasizes the importance of vigilance against scams, urging job seekers to avoid sharing personal information, be cautious of job payments, and communicate through official channels. For online shoppers, it advises against hasty purchases and highlights the need to verify advertisements and reviews.

Gold prices have surged to new heights as concerns over the trade war have caused market chaos. Recently, gold rose by 0.4% to $3,357.78 per ounce, following a significant gain of 3.5% the previous day. This rise is attributed to a declining dollar and warnings from Federal Reserve Chief Jerome Powell, who dampened expectations of quick economic relief. With tensions from the trade war and fears of a global recession, gold has increased almost 28% this year, making it a safe haven for investors. Analysts note that uncertainty around tariffs and potential interest rate drops have created the perfect conditions for gold to thrive.

The Indian stock market faced a decline on April 17, with major sectors like IT, telecom, and metals seeing the most losses. The BSE Sensex dropped by 186.94 points, closing at 76,857.35, while the NSE Nifty fell by 61.85 points to 23,375.35. This downturn was influenced by cautious remarks from US Federal Reserve Chair Jerome Powell regarding interest rates. Most Sensex stocks were in the red, with Tata Steel and TCS suffering significant losses. However, there was a positive note as IndusInd Bank saw a rise of over 7%. Overall, foreign investors remained active buyers in the market.

The stock market in India will be closed for three days starting from Good Friday, April 18, 2025. This means no trading will happen in equities, derivatives, currencies, and commodities during this period. The market is typically closed on Saturdays and Sundays as well. Traders can expect activities to resume on Monday, April 21. Good Friday is significant as it commemorates the crucifixion of Jesus Christ and falls during Holy Week, leading up to Easter. After this holiday, the next market closure will be on May 1, 2025, for Maharashtra Day.

BluSmart, a popular electric cab service, is facing a potential shutdown, which has prompted ex-Google MD Parminder Singh to voice his concerns on social media. Singh shared that his elderly parents in Delhi rely heavily on BluSmart for their daily transportation needs, even opting not to own a car because of its convenience. He expressed that the news of its possible closure would break their hearts. Singh's heartfelt posts resonated with many users, leading him to offer his help in finding a solution to save the service. The situation highlights the importance of a strong business model for services that many people depend on.

Infosys, a leading IT company, reported a net profit of ₹7,033 crore for the March quarter, which is an 11.7% drop from last year. Despite this decline, the company exceeded its revenue guidance for the fiscal year, with revenues rising to ₹40,925 crore, up 7.9% from the previous year. For the full financial year, profits increased by 1.8% to ₹26,713 crore, while overall revenues climbed to ₹1,62,990 crore. The CEO highlighted the company's strong focus on client needs and its robust financial performance, along with a record cash flow of $4.1 billion. Additionally, Infosys plans to pay a final dividend of ₹22, marking a 13.2% increase from last year.

The World Trade Organization (WTO) has issued a warning about the impact of U.S. tariffs on global trade growth, revising its forecast for global commercial services trade growth down to just 4% for 2025. This decline is raising concerns about reduced demand, particularly from the U.S., as economic uncertainty looms. Federal Reserve Chair Jerome Powell highlighted that businesses and households are feeling anxious about the future due to significant policy changes, which may lead to higher unemployment and inflation. For countries like India, which is a major exporter of services, the WTO's downgraded forecast poses challenges, particularly for companies like TCS and Wipro that depend on global markets.

Will Jacks shone brightly in the IPL as he led the Mumbai Indians to a crucial victory against Sunrisers Hyderabad at Wankhede Stadium. Chasing 163 runs, MI achieved the target in just 18.1 overs, marking their third win of the season. Jacks made significant contributions with both bat and ball, taking two important wickets and scoring 36 runs. His all-round performance earned him the 'Player of the Match' award. Despite a shaky start to the tournament, Jacks expressed relief and confidence after this win, helping MI climb to seventh in the points table while SRH faced their fifth defeat.

Banks in India will be closed on several designated holidays in April, including the fourth Saturday, April 21, for Gauri Puja. In total, there are 13 holidays this month, starting with April 1 for year-end accounts and featuring celebrations like Mahavir Jayanti and Ambedkar Jayanti. Local holidays vary, with closures for regional New Year celebrations in different states. While banks are closed, ATMs and online banking will still operate for daily transactions unless notified otherwise. It’s important to check with your local bank for specific holiday schedules to plan ahead.

Google is gradually replacing its Assistant with the new AI chatbot, Gemini, on Android devices. In this shift, smartphone makers like Motorola and Samsung are looking to introduce Perplexity as a new default digital assistant. Reports suggest that Motorola plans to offer Perplexity as a preloaded option on its upcoming Razr phones, along with a unique user interface. Additionally, Samsung is considering investing more in Perplexity, which could increase its valuation to $18 billion. This comes after the AI startup raised between $500 million and $1 billion recently.

The world of artificial intelligence (AI) is rapidly evolving, with companies like OpenAI and Google unveiling impressive new models that enhance usability and problem-solving abilities. OpenAI recently launched its GPT-4.5 model along with the o3 and o4-Mini, which excel in coding, math, and visual tasks. These new models aim to create a comprehensive AI ecosystem, allowing for intuitive interactions. Industry leaders note that these advancements are not just about improved performance but also about making AI more accessible and capable of complex reasoning. As competition heats up, these innovations promise to change how we use AI in our daily lives.

The ongoing US-China trade war is causing uncertainty for India's leading IT companies, TCS and Wipro, regarding their annual salary increases. This reflects how global economic tensions can impact even the services sector. The World Trade Organization predicts a lower growth rate for global services trade, which is concerning for India, a major player in commercial services exports. With a strong growth in 2024, the forecast has dampened due to trade war effects, particularly on travel and investment services. This situation highlights the delicate balance between global trade dynamics and domestic economic conditions.

A significant legal clash between Hindustan Unilever Ltd (HUL) and Honasa Consumer Ltd has concluded with a peaceful resolution. The Delhi high court ordered HUL to modify a controversial advertisement for its Lakmé sunscreen, which Honasa claimed unfairly targeted its products. HUL must remove certain claims and adjust packaging colors in the ad. The dispute centered on the claim that the Lakmé sunscreen labeled as an “online bestseller” actually provided lower sun protection than advertised. This case highlights the fierce competition in India's growing sun care market, where consumer understanding of SPF remains low, posing both opportunities and risks for brands.

Gensol Engineering Ltd's shares dropped sharply by 5%, reaching a yearly low, after SEBI accused its promoters of misusing company funds. The stock fell to ₹123.65 on the Bombay Stock Exchange, matching its 52-week low. SEBI's investigation revealed that Gensol had raised ₹975 crore for electric vehicle purchases but diverted funds for personal expenses, including a luxury apartment in Gurugram. Promoter brothers Anmol and Puneet Singh Jaggi have been barred from company directorships, and a forensic audit has been initiated. Credit rating agency ICRA also downgraded Gensol's rating due to concerns over its governance and liquidity.

The ongoing trade talks between India and the US are based on clear data and facts, as stated by Indian officials. The US's new 26% tariffs on India focus mainly on goods and overlook the growing services trade, where the US has an edge. In the past few years, American service exports to India have significantly increased, reaching $40.26 billion in 2024. Furthermore, experts argue that the trade figures can be misleading, with claims of a $100 billion trade deficit by the US not aligning with Indian data showing it under $45 billion. The rise of American companies in India, particularly in digital advertising, highlights the complexities of this trade relationship.

Inflation in India has reached a multi-year low, leading to expectations that the Reserve Bank of India (RBI) might cut interest rates by 50 basis points in June and August. A report from SBI Research suggests total cuts could surpass 100 basis points due to a shaky economic environment. The GDP growth forecast for 2026 is estimated at 6.3 percent, hinting at a slowdown. The RBI recently lowered the repo rate from 6.25 percent to 6 percent, marking two consecutive cuts. Lowering interest rates can boost economic growth and make loans more affordable, which is vital for consumers and businesses alike.

Gold prices have soared to a record high of ₹95,435 per 10 grams on the Multi Commodity Exchange, driven by a weakening dollar and rising global uncertainties. This marks the first time gold has crossed the ₹95,000 mark, reflecting a 2.12% increase from the previous close. Silver also saw significant gains, reaching ₹96,965 per kg. Experts attribute this surge to ongoing geopolitical tensions and economic instability, particularly due to US President Donald Trump's trade policies. Investors are flocking to gold as a safe investment, pushing predictions for future prices even higher.