Niti Aayog wants separate regulator for medical devices; UPI clocks 1bn transaction: Report

Government think tank NITI Aayog does not want to bring medical devices under the Central Drugs Standard Control Organisation (CDSCO). UPI crosses 1bn transaction in October.

Niti Aayog proposes separate autonomous body for medical devices

The National Institution for Transforming India or the NITI Aayog wants a separate regulator for medical devices, the Economic Times reports.

The government think tank has dismissed the Ministry of Health and Family Welfare’s proposal to bring medical devices under the Central Drugs Standard Control Organisation (CDSCO).

Niti Aayog argued that the CDSCO does not have the required expertise. It has also moved a draft Bill proposing the medical devices to be governed by a separate regulator, the report said.

Earlier this month, the ministry had issued a draft notification saying that all medical devices would come under the category of drugs from December 1 and would be regulated under the Drugs & Cosmetics Act, it added.

The Indian medical device market is expected to grow to $50 billion by 2025.

UPI hits 1bn transactions in October

Unified Payments Interface, operated by the National Payments Corporation of India, has clocked 1 billion transactions in October, reports the Economic Times.

UPI  has also crossed 100 million users, making it the fastest adoption of any payments system, the report said.

The payments body is planning to enable UPI-based transactions in Singapore and the United Arab Emirates.

The platform enables users to send money from their account to any account without entering bank details by using an email-like handle or scanning a quick response (QR) code.