| | JUNE 20248On completion of one hundred years of S.N. Bose's research on quantum, which was recognized by the eminent scientist Albert Einstein, advisory and technological ventures promotion firm Innogress is now promoting a Quantum Technology Park called 'GKQCTP'. A hundred years ago, on June 4th, 1924, the renowned Indian physicist and scientist, Late Satyendra Nath Bose, sent his quantum formulations to the German scientist Albert Einstein. Without delay, Einstein recognized it as a significant discovery in quantum mechanics. In his 1924 paper, Bose documented his findings and named it "Planck's Law and the Hypothesis of Light Quanta." He then sent it to Albert Einstein, who promptly applied Bose's formula to a wide range of phenomena. Bose's theoretical paper became one of the most important findings in quantum theory.In commemoration of the hundredth anniversary of SN Bose's groundbreaking research on Quantum, which was acknowledged by the renowned scientist Albert Einstein, Innogress, a firm dedicated to promoting tech ventures, has decided to use 'Bose Qubits' as the brand name for the Quantum Bits (Qubits) developed, engineered, manufactured, and deployed at its proposed Quantum Technology Park 'GKQCTP' and Quantum Data Center 'IQDC' in India. This marks the first branding initiative for Made In India in the Quantum Tech sector.Sumant Parimal, Founding Partner of Innogress, mentioned that this year marks the centenary of the Bose-Einstein joint research on Quantum science. He expressed great pride in the work of the late SN Bose, an Indian scientist who taught physics at Calcutta University and Dhaka University over a hundred years ago. Bose's work on Quantum science laid the foundation for modern-day Quantum Technology, which encompasses everything from Quantum Computing to Quantum Sensing and Quantum Communication using Qubits.Parimal stated that in honour of this great Indian scientist, who collaborated with Albert Einstein in advancing quantum science, Innogress has resolved to adopt the name Bose Qubits for the qubits to be developed, engineered, manufactured, and hosted at the upcoming Quantum Technology Park-GKQCTP and Quantum Data Center-IQDC. Cashfree Payments, a prominent payment and API banking company has appointed Abhaya Hota, former Managing Director and CEO of the National Payments Corporation of India (NPCI), as an independent director. Hota, a seasoned expert in the Indian banking and payments sector, has dedicated nearly three decades to the Reserve Bank of India. During his tenure at NPCI, he played a pivotal role in the development and implementation of key payment systems and policies, including the introduction of MICR technology for cheque clearing, the Unified Payments Interface (UPI), and RuPay credit cards, India's proprietary card scheme.In addition to his new role at Cashfree Payments, Hota serves as an independent director at the Federal Bank, NSE Clearing, Protean e-Gov Technologies, and the RBI Innovation Hub. Commenting on his new position, Hota expressed enthusiasm about joining Cashfree Payments and supporting its mission to enhance India's digital payments ecosystem.Cashfree Payments, licensed by the RBI as a payment aggregator, processes transactions exceeding $80 billion annually and is relied upon by over 600,000 businesses for digital payment solutions. Since obtaining the payment aggregator license in December 2023, the company has experienced significant growth, with transaction volumes increasing by nearly 30 percent. CEO and co-founder Akash Sinha highlighted this growth, noting that merchant leads have nearly doubled from December to March, with current leads around 35,000­36,000 per month and expectations to reach 50,000 by June. The company has also introduced innovative products such as FlowWise, KYC Link, and Risk Shield, further strengthening its market position. Additionally, Cashfree Payments is expanding internationally, particularly in the UAE, through its acquired partner, Telr. INNOGRESS INTRODUCES 'BOSE QUBITS' FOR QUANTUM TECHNOLOGYCASHFREE PAYMENTS NAMES ABHAYA HOTA AS THE INDEPENDENT DIRECTORIN FOCUSIN FOCUS
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