Business
India Post Launches UPI-UPU Global Remittance Service For Faster, Cheaper Money Transfers
New Delhi: In a major push for cheaper and faster cross-border remittances, India Post has teamed up with NPCI International Payments Ltd. (NIPL) and the Universal Postal Union (UPU) to launch a new digital initiative linking India’s Unified Payments Interface (UPI) with the UPU’s Interconnection Platform. The system was unveiled at the 28th Universal Postal Congress in Dubai by Union Communications Minister Jyotiraditya Scindia.
The integration aims to slash remittance costs and transfer times, giving millions of overseas Indian workers, small traders and e-commerce operators a faster and more convenient way to move money. Leveraging India’s home-grown UPI network, the project extends the country’s successful digital payments model to an international stage, boosting financial inclusion worldwide.
Under the new system, funds sent from abroad can be picked up at designated post offices using a valid ID and reference number. If the recipient holds an India Post Payments Bank (IPPB) account, the money can be credited directly—removing the need to visit a branch. This makes remittances simpler and safer for users with limited access to traditional banks.
Beyond personal remittances, the initiative is expected to benefit exporters, small businesses and e-commerce firms engaged in frequent overseas transactions. By connecting with the UPU’s network of over 190 countries, the system improves accessibility and reliability, reducing friction in global trade.
India Post already offers international transfer services through partners like MoneyGram and Western Union. The new UPI-UPU link complements these options by offering a low-cost, digital-first alternative to traditional money transfers—positioning India Post as a direct competitor to established players.
This initiative reflects India’s growing leadership in digital payment innovation and aligns with global trends favouring tech-driven financial services. By undercutting fees and cutting transfer times, it could significantly disrupt a market long dominated by legacy remittance companies, opening the door to a more inclusive and efficient cross-border payments ecosystem.
Business
Ads for British beef and milk banned following Chris Packham complaint
Two ads promoting British beef and milk have been banned after television presenter and environmental campaigner Chris Packham complained that they misled consumers about the products’ carbon footprints.
Both ads for the Agriculture and Horticulture Development Board’s (AHDB) Let’s Eat Balanced campaign used the carbon footprint of British beef and milk to promote the products, firstly stating: “British beef not only tastes great, but has a carbon footprint that’s half the global average*.”
The asterisk linked to text that stated: “Full lifecycle emissions of CO2 eq (carbon dioxide equivalent) per kg of beef.”
The ad for milk stated: “British milk not only tastes good, but is also produced to world-class standards, and has a carbon footprint a third lower than the global average.”
Packham complained to the Advertising Standards Authority (ASA) that the ads, and specifically the carbon footprint claims, were misleading as they did not reflect the full environmental impact of British meat and dairy.
The AHDB said the ads’ mention of carbon emissions would be understood in relation to the environmental impact of beef and milk that occurred between the “cradle-to-retail” stages.
But the ASA said the average consumer “being reasonably well-informed, observant and circumspect” would understand the claims to apply beyond the retail stage and include actions such as cooking and wastage.
The ASA said: “While we acknowledged the potential difficulties in producing post-retail emissions data, the claims in the ads suggested those emissions were included and we therefore expected the evidence provided to also include them.
“We therefore concluded that the evidence presented was insufficient to support the full life-cycle claims in the ads, which was how the average consumer was likely to interpret them.
“We reminded AHDB that environmental claims should be based on the full life cycle unless the ad stated otherwise.”
AHDB’s director of communications and market development, Will Jackson, said: “Let’s Eat Balanced is doing what it was designed to do, providing clear, factual, evidence-led information about British food, nutrition and farming standards.
“Since the investigation began, we have conducted independent consumer research which found that the majority of respondents interpreted these adverts as relating to the production phase only, from farm to retail.
“This research provides important insight into consumer understanding and supports our belief that consumers were not misled by the information we shared in these two specific adverts.”
Business
Gen Z pros embrace ‘portfolio careers’ as side hustles surge – The Times of India
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing preference among younger professionals for flexibility, autonomy and diversified sources of income. “We’re also seeing the rise of the ‘portfolio era’, with more professionals creating multiple income streams and redefining what a career can look like. This shift is making entrepreneurship more accessible than ever before,” said LinkedIn India country manager Kumaresh Pattabiraman.Rather than depending on a single full-time role, many professionals are simultaneously building businesses, freelancing, consulting, creating online content and monetising specialised skills through digital platforms. The trend comes amid a broader rise in entrepreneurial activity in India. LinkedIn recorded a 104% year-on-year increase in members adding “Founder” to their profiles – the highest growth among all global markets.AI is also emerging as a major enabler of this shift. The report found that 85% of Gen Z entrepreneurs consider AI and digital tools important to their business operations.
Business
Elon Musk said control of OpenAI should go to his children, Sam Altman tells jury
Sam Altman said Elon Musk tried many times for total control of OpenAI, which he’s now suing.
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