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Govt to come out with a legal framework to ensure data privacy: Piyush Goyal

YourStoryYourStory · 1y ago
Govt to come out with a legal framework to ensure data privacy: Piyush Goyal
Medial

India's Commerce and Industry Minister Piyush Goyal spoke at the UK-India Technology Futures Conference, emphasizing the need for a legal framework to ensure data privacy and promote free data flow. Goyal highlighted the potential for collaboration between India and the UK in various technology sectors, including AI, telemedicine, climate modeling, precision agriculture, and more. He also discussed the intersection of the digital world and sustainability issues, pointing out India's significant efforts to develop a large-scale interconnected grid with a mix of traditional and renewable energy sources. Goyal invited global investors to take advantage of India's unmatched opportunities in technology and innovation.

RBI opens interoperable tokenisation for all: No edge for Apple and Google

EntrackrEntrackr · 2m ago
RBI opens interoperable tokenisation for all: No edge for Apple and Google
Medial

The Reserve Bank of India (RBI) has fired a shot across the bow of global tech giants by mandating that tokenisation and authentication services must be offered on an open, interoperable basis. In its newly issued Authentication Mechanisms for Digital Payment Transactions Directions, 2025, the regulator has directed that if a device or operating system enables tokenisation, the feature must be accessible to all apps and payment providers in that ecosystem, not just to the company that owns it. This move has significant implications for players like Apple Pay and Google Pay, which globally enjoy a competitive edge by locking core features such as NFC chips, secure elements, or tokenisation frameworks within their own apps. On the iPhone, for example, only Apple Pay can use the device’s NFC chip and tokenisation infrastructure, effectively sidelining third-party apps and giving Apple a gatekeeper role in mobile payments. This strategy has helped Apple capture a premium share of digital transactions in markets like the US and Europe, where regulators are still grappling with the anti-competitive impact. RBI’s mandate disrupts this model. By insisting on open access, the regulator is emphasizing that if tokenisation is available on a device in India, then PhonePe, Paytm, or an SBI app must be allowed to use it on equal terms. This could transform the competitive dynamics of India’s payments ecosystem, preventing big tech companies from ringfencing critical infrastructure and ensuring that Indian fintechs are not locked out of advanced authentication technologies. Tokenization, which replaces sensitive card numbers with randomly generated “tokens” during transactions, has become the global standard for securing payments. While Apple and Google have leveraged it to build dominance in their respective ecosystems, RBI’s framework ensures that no single player can monopolise tokenisation in India. In effect, India is one of the few large markets to pre-emptively curb walled gardens in digital payments, a regulatory stance that could give local fintechs a level playing field while forcing global giants to open up their closed ecosystems if they want to operate in the country.

Entvin AI raises $500K from Y Combinator

EntrackrEntrackr · 8m ago
Entvin AI raises $500K from Y Combinator
Medial

Entvin AI raises $500K from Y Combinator Entvin AI, which offers AI solutions for the pharmaceutical and life sciences sectors, has officially launched out of beta and raised $500K in its maiden funding round from Y Combinator. The fresh funds will be used to expand its AI capabilities and accelerate customer acquisition among mid-to-large pharmaceutical companies globally, Entvin AI said in a press release. Co-founded in 2022 by Sanskar Jain, Hemant Phalak, and Rishabh Arya, Entvin aims to eliminate the hassles of the time-consuming, resource-intensive, and complex FDA drug approval process. The company has developed an AI platform to streamline these challenges. Entvin notes that the FDA drug approval process often takes years and costs millions; any inefficiency can significantly impact a company's bottom line and delay potentially life-saving treatments from reaching patients. The platform addresses this critical challenge head-on with a specialized AI solution designed for regulatory teams. Entvin's AI platform directly tackles this bottleneck by automating document drafting, compliance verification, and regulatory monitoring tasks. Its technical architecture leverages large language models specifically fine-tuned for regulatory documentation and FDA compliance requirements. Early users report significant efficiency gains, with some teams reclaiming hundreds of hours previously spent on manual regulatory work. The platform actively identifies compliance gaps, automates repetitive documentation tasks, and provides regulatory teams with actionable insights in real time. This enables life sciences companies to navigate the approval process with unprecedented efficiency while maintaining trust, reliability, and seamless integration. Entvin reports early success with enterprise pilot customers, demonstrating that its AI solution can save hundreds of hours for regulatory and scientific teams while improving compliance accuracy—an essential factor in an industry where regulatory missteps can cost millions.

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