indian express — صفحه 6 از 25 — ✅ خرید وی پی ان ❇ ip ثایت vPn آی پی اختصاصی ◐

ژوئن 26, 2022

RBI eyes BNPL norms, to rope in fintechs amid concerns over cards by non-bank PPI issuers to extend short-term loans

After slapping curbs on non-bank buy now pay later (BNPL) companies, the Reserve Bank of India (RBI) is likely to come out with guidelines for the BNPL segment which was using pre-paid instruments (PPIs) to extend short-term, interest-free loans to customers for online purchases.
“This novel method shall be examined, and issuance of appropriate guidelines on payments involving BNPL shall be explored,” the central bank said in its Payments Vision 2025 document. The RBI had last week communicated to non-bank PPI issuers — or BNPL companies — to stop issuing cards where the funds are loaded through a credit line from NBFCs, sending jitters in the segment.
According to banking observers, the Reserve Bank is not happy with fintech companies using PPIs as a credit instrument, circumventing the regulatory oversight. The banking regulator is in discussion with fintech players to find a way out and bring the segment under a regulatory framework so that PPIs are used as a payment instrument and not as a credit avenue.

While BNPL services have developed into a new payment mode alongside the existing payment modes like cards, UPI and net banking, it has remained outside the direct RBI regulation. This channel, facilitated by a few payment aggregators, leverages the existing nodal account (escrow account after authorisation) to route payments between a BNPL customer and a merchant. “We welcome RBI’s move on barring wallet and PPIs top up from the credit lines. This will bring more transparency in the fintech lending space. We believe the main purpose of a PPI licence is to act as a payment instrument and not as a credit instrument,” said Nipun Jain, CEO, RapiPay Fintech Ltd.
The latest regulation is probably coming from recent developments wherein newer business models of credit-based payment products were built by companies using PPI as a vehicle, analysts said. The RBI has raised concerns on funding of these PPI instruments through a credit line from an NBFC, Kotak Securities said in a report.

ExplainedHow does a BNPL company operate?A customer who holds a BNPL card or account can make a purchase at a participating retailer and opt for the ‘Buy now, pay later’ option. After the purchase, the customer can repay the BNPL firm in a series of interest-free EMIs – unlike credit cards which carry a high interest rate of 42 per cent — spread over 3 months or as a lumpsum amount. If it remains unpaid, interest will be charged. The BNPL company will pay the merchant immediately. However, for a purchase of Rs 500, instead of settling the full Rs 500, they would pay something like Rs 470 or Rs 450 and pocket the difference. The merchant agrees to give a discount to the BNPL firm.

The RBI’s working group on digital lending had recently proposed restricting balance sheet lending by digital lending apps (DLAs) only to regulated entities of the central bank or entities registered under any other law for specifically undertaking lending business, enacting a separate legislation to prevent illegal digital lending activities and treating BNPL as part of balance sheet lending, and prohibition on unregulated entities from offering first loss default guarantee (FLDG).
Another major factor that worries the RBI could be the high delinquency levels in the BNPL segment. In the case of 60 days past due (DPD) credit, delinquencies in the BNPL segment are 18.9 per cent whereas non-BNPL show 10.1 per cent delinquencies, according to TransUnion Cibil data.
BNPL is India’s fastest-growing online payment method with a significant impact on banks, large merchants and card schemes. Due to its hassle-free on-boarding experience, extension of credit facility, low-cost structure for the customer and facilitating easy repayments, BNPL is growing popular among young income earners.
Some of the popular BNPL companies are LazyPay, Simpl, ZestMoney, Amazon Pay Later, Ola Money Postpaid, Paytm Postpaid, Flexmoney, Slice, UNI and EPayLater.
🚨 Limited Time Offer | Express Premium with ad-lite for just Rs 2/ day 👉🏽 Click here to subscribe 🚨
“Regulatory clarity for big tech and fintechs as well as BNPL will really help entities plan long term and invest even more in fintech in India,” said Avinash Godkhindi, MD and CEO, Zaggle.
The RBI ban on credit lines from NBFCs is likely to hit fintech companies in the BNPL segment. BNPL companies are active on Zomato, Swiggy and other e-commerce sites.
For customers around the globe, e-commerce payment preferences continue to shift away from cash and credit cards towards digital wallets and BNPL. In its report ‘Digital Payments in India: A US$10 Trillion Opportunity’, BCG said the digital payment market In India will be $10 trillion in the next five years (by 2026), with non-cash contributions comprising 65 per cent of all payments and two out of three transactions will be digital in the next five years.

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘444470064056909’);
fbq(‘track’, ‘PageView’);
.

ژوئن 25, 2022

Citing fiscal strains, Expenditure Department advises against PMGKAY extension

It is not advisable to continue the Pradhan Mantri Garia Kalyan Anna Yoajana (PMGKAY) beyond its present extension (till September) both on “grounds of food security and on fiscal grounds” given that it is as it is “far beyond the need of non-pandemic times”, the Department of Expenditure under the Ministry of Finance has stated. Huge increase in fertiliser subsidy burden (both urea & non-urea), re-introduction of subsidy on cooking gas, reduction of excise duty on petrol, diesel and customs duty on various products have created a serious fiscal situation, it said.
“The budgeted fiscal deficit at 6.40 % of GDP was itself extremely high by historical standards, and deterioration therein poses a risk of serious adverse consequences. It is vital that major subsidy increases/tax reductions are not done. In particular, it is not advisable to continue the PMGKAY beyond its present extension, both on grounds of food security and on fiscal grounds. As it is, each family is getting 50 kg of grains, 25 kg at a nominal price of Rs.2/Rs.3, and 25 kg free. This is far beyond the need at a non-pandemic time,” the Expenditure Department said.
In March, the government extended the PMGKAY scheme for another six months till September 2022. The government has spent approximately Rs 2.60 lakh crore till March and another Rs 80,000 crore will be spent till September 2022, taking the total expenditure for PM-GKAY to nearly Rs 3.40 lakh crore. The scheme covers nearly 80 crore beneficiaries providing 5kg of foodgrains per month for free under this scheme. The additional free grains are over and above the normal quota provided under the NFSA at a subsidised rate of Rs 2-3 per kg.
🚨 Limited Time Offer | Express Premium with ad-lite for just Rs 2/ day 👉🏽 Click here to subscribe 🚨
The Budget had pegged the fiscal deficit at 6.4 per cent of the GDP or Rs 16.61 lakh crore. In April, the first month of the current fiscal, the deficit stood at Rs 74,846 crore – or 4.5 per cent of the full-year target. In 2021-22, the deficit was 6.71 per cent or Rs 15.86 lakh crore, lower than the revised estimates of 6.9 per cent on better tax revenue mop up.
Fertiliser subsidy is estimated to rise to Rs 2.15 lakh crore from the budgeted level of Rs 1.05 lakh crore for 2022-23, having already seen an outgo of Rs 60,939.23 crore for the first six months of this fiscal. The government’s finances are also strained after the recent excise duty cuts, which are estimated to cost Rs 1 lakh crore. The cooking gas subsidy to the poor is estimated to cost the government Rs 6,100 crore, while the revenue loss from the recalibration in customs duty on iron and steel and plastic is expected to be Rs 10,000-15,000 crore.

ژوئن 24, 2022

Myanmar’s Suu Kyi moved to solitary confinement in jail: Military

Myanmar military authorities have transferred deposed leader Aung San Suu Kyi to a prison in the capital from an undisclosed location where she had been held since she and her government were ousted in a coup last year, a military spokesman said.
The Nobel laureate, who turned 77 on Sunday, had been moved to the jail in Naypyitaw on Wednesday after court rulings against her, military spokesman Zaw Min Tun said.
“She was transferred to prison under the law and is being kept in solitary confinement,” he said in a statement.
Suu Kyi has been charged with about 20 criminal offences carrying a combined maximum jail term of nearly 190 years since she was toppled by the military in February 2021, including multiple counts of corruption. She denies all charges.
The پروکسی’s Burmese-language service cited sources as saying Suu Kyi was being held in a separate building inside the prison in Naypyitaw.
A source familiar with her cases told Reuters on Wednesday that all legal proceedings against Suu Kyi would be moved to a courtroom in the jail.
Junta leader Min Aung Hlaing had previously allowed Suu Kyi to remain in detention at an undisclosed location, despite convictions for incitement and several minor offences.
Reuters could not reach Suu Kyi or her representatives for comment. Her lawyers have been barred from speaking about her cases. A spokesperson for the junta did not respond to requests for additional comment.
Suu Kyi, the daughter of Myanmar’s independence hero, was first put under house arrest in 1989 after huge protests against decades of military rule. In 1991, she won the Nobel Peace Prize for campaigning for democracy but was only fully released from house arrest in 2010.
She swept a 2015 election, held as part of tentative military reforms that were brought to a halt by last year’s coup.
Western countries have called the charges against Suu Kyi and her convictions a sham and demanded her release. The military says she is being given due process by an independent judiciary.
TRIAL IN PRISON
Myanmar Witness, a non-governmental group that documents human rights, issued satellite imagery of what it said were recently constructed buildings next to the main prison compound in Naypyitaw.
The Mizzima news portal also showed a photograph of a one-storey building in the jail that it said was being used in connection with Suu Kyi.
Reuters could not independently confirm whether any of the buildings were being used for the trial or to house Suu Kyi or other detained members of her National League for Democracy party.
Australian economist Sean Turnell, previously an adviser to Suu Kyi, who has been charged with violating a state secrets law, had also been moved to the Naypyitaw jail, media reports said. Suu Kyi also faces charges over breaches of the secrets law.
Australia’s foreign minister, Penny Wong, in a statement on June 10, said Canberra rejected the court decision to prosecute Turnell.
🚨 Limited Time Offer | Express Premium with ad-lite for just Rs 2/ day 👉🏽 Click here to subscribe 🚨
U.S.-funded Radio Free Asia cited sources saying the trial of Suu Kyi and Turnell started on Thursday in the jail.
Authorities had reinforced prison fences and tightened security since Suu Kyi had been moved there, RFA reported.
Suu Kyi had not been allowed to bring the household staff who had accompanied up during her detention and had decided not to bring her dog, Taekido, پروکسی Burmese reported.
Suu Kyi’s court proceedings have taken place behind closed doors with only limited information reported by state media.
It is not clear how much Suu Kyi knows of the crisis in her country, which has been in chaos since the coup, with the military struggling to consolidate power and facing increasing opposition from insurgents.

ژوئن 24, 2022

‘This is insane’: Tweet complaining about YouTube ads goes viral

With more than 2.5 billion active users, YouTube is one of the most popular social media websites in the world. While people across the world rely on the video-sharing platform for entertainment, and even work, it comes with its own share of problems.
Earlier this week, an innocuous nine-word tweet about the platform’s frequent advertisement breaks went viral.

On Wednesday, a user who goes by the handle “@wydccalamity” tweeted, “Youtube having THREE ads before a video is insane”. This tweet went viral as it resonated with YouTube users around the world and soon garnered over 3 lakh likes and over 23,000 retweets.

Youtube having THREE ads before a video is insane
— 𝐚-𝐚𝐫𝐨𝐧 (@wydccalamity) June 22, 2022
YouTube, which earns most of its revenue from advertisements, replied to the criticism and commented, “hey there – this may happen w/ a certain type of ad format called bumper ads (since they’re super short, only up to 6 secs). but we appreciate your honest feedback & will be sure to share it w/ the appropriate team!”

hey there – this may happen w/ a certain type of ad format called bumper ads (since they’re super short, only up to 6 secs). but we appreciate your honest feedback & will be sure to share it w/ the appropriate team!
— TeamYouTube (@TeamYouTube) June 23, 2022
However, this response failed to impress netizens who pointed out that many back-to-back ads that are ‘un-skippable’ are longer in duration. Echoing this argument, a Twitter user responded, “totally false…your bumper ads are 25 seconds long..in some cases..35 seconds…do not lie here saying your bumper ads are only 6 secs long”.
totally false…your bumper ads are 25 seconds long..in some cases..35 seconds…do not lie here saying your bumper ads are only 6 secs long
— mayank (@mayankwa786) June 23, 2022

While you are at it, can you stop putting condoms ad, which can’t be skipped and ain’t age appropriate. Watching them while waiting for baby shark to play is ‘difficult’
— Ram Naresh (@RamNareshAK) June 23, 2022

That doesn’t even matter. You didn’t jump to this “ad format” for customer convenience, you did it so you could get a shit ton of more money from 3 entirely separate companies in the same 30 second time slot. Don’t lie, we see right through you. Admit it and we’ll consider.
— 🧡🤍💗💐 (@Ivrboyhwa) June 23, 2022

hey is it just me but your ads seem to be 2 volumes higher than the video? they always give me earrapes and while 3 ads r annoying enough you had to blast my ears too with them????
— k.k. disco (slebew) (@xiaolongbao___o) June 23, 2022

You guys just have to give in and buy YouTube Premium. It makes going through YouTube videos along with listening to videos and music so much more easier. I was hesitant for a long time on gettin it but my whole experience has been improved by a huge margin afterwards.
— StageCraftBeast / Zach (@StageCraftBeast) June 23, 2022

They should make it 10 if they like, I’m still not going premium. 😌
— A.Kalabari.Queen (@oprite) June 24, 2022

I’m still not paying for the ad free one. I’ll be here complaining when they go to 8 ads before a clip 😂😂
— Antonella212 (Instagram) (@NYorNothing) June 22, 2022

People also raised the issue of age-appropriate advertisements and replied to YouTube, “While you are at it, can you stop putting condoms ad, which can’t be skipped and ain’t age appropriate. Watching them while waiting for baby shark to play is ‘difficult’”.

ژوئن 24, 2022

Rs 30 for 90 mins: Co-working space for freelancers, working mothers

Until recently, Kolkata-based Pooja Maitra, a media professional and a mother of a four-year-old girl, had a nickname for her car: mobile office. She would often use it to work in after dropping off her daughter at school while waiting to pick her up.
For all its ills—the car would get excruciatingly hot and it was not easy to charge the laptop—it helped Maitra juggle her career and family. Sometimes, she would choose to sit at a cafe, but working out of these was expensive.
This changed when she discovered Happy Works, a co-working space introduced by the West Bengal Housing Infrastructure Development Corporation or HIDCO, a public sector undertaking, in the city’s New Town area.
The Happy Works space essentially comprises working pods, which provide a comfortable setting for people to work — at minimal rates. The charge is Rs 30 for the first hour-and-a-half (90 minutes), after which one would have to pay Rs 20 for each additional hour. Many customers also book the pods on a monthly basis by paying a one-time charge at the beginning of the month.
🚨 Limited Time Offer | Express Premium with ad-lite for just Rs 2/ day 👉🏽 Click here to subscribe 🚨
These pods have been set up at three locations in New Town and are increasingly attracting freelancers, upcoming entrepreneurs and, of course, working mothers. Most of the people using these pods had let go of their rented offices during the pandemic. “I am so happy that the government has come up with something like this,” said user Sukanya Guha. She, too, is the mother of a five-year-old and is working to establish her startup, a recruitment firm.
The working pods, painted in vibrant yellow, have been set up on an 800-plus sq ft area. There are about 20 working desks; each one is numbered and comes with a bookshelf.
It is an air-conditioned space with free high-speed Wi-Fi. People also have the option of working from the rooftop in winters.
For many customers, especially young mothers, working from home isn’t always the most convenient option. For one, many families do not take women’s careers seriously enough. Moreover, it is tough to focus on the constant demands from family members.
The working pods are open on all seven days, from 9 am-8 pm.
“Working pods are the coolest thing in our city today,” said Maitra, who is now a regular user.

Beyond the obvious convenience, customers also enjoy working with a diverse set of people, exchanging ideas and socialising.
“I come monthly to hold meetings and meet my teammates. Earlier I used to book In Kolkata, govt sets up co-working spaces, charges Rs 30 for 90 mins
hotels for such meetings but now I book the conference room of these working pods. They charge me Rs 200 an hour,” said 44-year-old Abhinav Biswas, who heads the eastern zone of a start-up that works on women’s hygiene.
The first of the three working pods was inaugurated in August 2021 by state minister Firhad Hakim and Chairman and Managing Director of HIDCO, Debasis Sen.
“These pods are gaining popularity with each passing day not only because they are very affordable—just Rs 20 an hour—but also because they are very conveniently located,” said Sen. “The idea behind charging some money for these pods was just to recover the wifi and electricity expenses, not to gain profit.”
These working pods have now been handed over to self-help groups. Around 20-25 women take turns running the three working pods in Newtown.
In the next phase, HIDCO is working towards setting up a larger co-working space with an option of co-living as well.