Hello there! In today's edition, we bring you exclusive coverage from our inaugural India Fintech Conclave, where the biggest names from India’s fintech and banking industry gathered to exchange ideas, insights and strategies. 

From regulators to industry leaders, investors to policymakers, all came together with a common goal - to chart a course towards making India the forefront of fintech innovation and leadership.

Here’s a quick rundown on everything that was discussed at the event.

Programming note: Wishing all our readers a Happy Holi. There will be no edition of MCTech3 on March 8 and we’ll be back in your inbox on March 9!

• The Digital Personal Data Protection (DPDP) Bill and the upcoming Digital India Act will cause "behavioural changes" in how platforms interact with consumers and citizens, says junior IT minister Rajeev Chandrasekhar.

• The minister also said MeitY is exploring a verification process to prevent the proliferation of harmful loan apps on Google Play or Apple App Store. This move comes about a month after about 94 lending apps were banned on MeitY’s directions for alleged Chinese links. Chandrasekhar, however, noted that these apps were taken down because they violated Indian laws and not because of their Chinese connections. (P.S. Chandrasekhar also spoke about why BJP will retain power in Karnataka)

• RBI has formed a committee for the regulation of fintechs, said executive director Ajay Kumar Choudhary. Regulating and introducing innovation in fintechs is always a challenge and true balance between innovation and regulation comes from within the fintechs, he said. 

• The RBI executive director also said that the Central Bank Digital Currency (CBDC) will take a new shape once the private sector finds more use cases.

• UPI is set to achieve 1 billion daily transactions by 2025, said NPCI CEO Dilip Asbe. He believes that UPI has not achieved its potential as yet.

• How to build products when you are operating in a heavily regulated environment? Zerodha founder Nithin Kamath and CTO Kailash Nadh gave a bird’s eye view into their ethos and their founding principles while building their tech stack. Kamath also spoke about Zerodha’s profitability journey and when the company will consider an IPO. 

You can catch all the real-time updates from India Fintech Conclave in our liveblog.

• Meta, the parent company of Facebook and Instagram, is planning another round of layoffs and will lay off thousands of workers as soon as this week. In November, Meta had laid off 11,000 employees, marking the company's first major round of job cuts.

• How Bengaluru Airport's brand-new glitzy, grandiose Terminal 2 won over Apple supplier Foxconn. In a letter to Karnataka CM Basavaraj Bommai on March 6, Foxconn (Hon Hai Technology Group) expressed its keenness to set up an electronics manufacturing unit in Bengaluru as part of its ‘Project Elephant’.

• Celebrities and social media influencers, who are endorsing products and services on social media platforms, must use words like advertisement, sponsored, collaboration or paid promotion in their endorsements, the Department of Consumer Affairs said.

• Twitter suffered yet another major outage yesterday. This time, users could not access links to articles from external websites. Twitter’s developer portal and Tweetdeck was also impacted in the outage.

• United States Citizenship and Immigration Services (USCIS) has announced the phased expansion of premium processing for certain F-1 students seeking Optional Practical Training (OPT) or Science, Technology, Engineering, and Mathematics (STEM) OPT extensions.