According to a report, the Adani Group, known for its ventures from ports to power, is considering applying for a license to operate on UPI, India’s public digital payments network. Additionally, the company, led by billionaire Gautam Adani, is in discussions with banks to launch a co-branded credit card.
The group is also exploring the possibility of offering online shopping services through ONDC, India’s government-supported public e-commerce platform. This move aligns with India’s digital initiatives, with ONDC and UPI being part of the country’s digital infrastructure.
Once finalized, Adani could expand its offerings through Adani One, a platform launched in 2022 that currently provides services like flight and hotel bookings.
Nitin Sethi, Senior Vice-President and Chief Digital Officer of Consumer Businesses at Adani Group, highlighted the importance of digital transformation in a LinkedIn post in December 2022, emphasizing the group’s commitment to evolving alongside traditional businesses.
The resurgence of the Adani Group comes after facing challenges in 2023, including allegations of corporate misdoings. Despite these hurdles, the group remains resilient and aims to continue its digital expansion.
Recent allegations from Financial Times, based on documents from OCCRP, have accused the Adani Group of fraud related to coal sales in 2013. The group has strongly refuted these claims, maintaining its stance against all allegations.
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