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The guidelines issued by the <keyword id="6354335" type="CITY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (<keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword>) for prepaid payment instrument (PPI) licence holders are not going well with the mobile wallet companies. Reportedly, the <keyword id="6368227" type="UNKNOWN" weightage="20" keywordseo="Mobile-wallets">mobile wallets</keyword> have raised several concerns over RBI’s proposed guidelines. One of the issues that these companies have is of the know your customer (KYC) norms. "Some clarifications were sought on certain clauses, while PPIs discussed issues around KYC, especially since it could be an overkill for small transactions," one of those at the meeting told ET. The <keyword id="4128581" type="UNKNOWN" weightage="20" keywordseo="payment-council-of-india">Payment Council of India</keyword> and the Internet and <keyword id="592650" type="ORGANIZATION" weightage="20" keywordseo="Mobile-Association-of-India">Mobile Association of India</keyword> (IAMAI) had organised a meeting in which they gave out feedback on the proposed norms. As per RBI’s draft guidelines, the PPIs will have to move to full KYC details within 60 days of the PPI licence being issued. Presently, e-wallets and other such prepaid payment instruments can only hold up to Rs 20,000 per user with minimum KYC. "In the feedback given to RBI, the main request is that minimum KYC be retained or that the deadline for implementing full KYC be extended to 18-24 months, since by then telecom companies would have done Aadhaar linking of mobile numbers. That will help mobile wallets do full KYC for all customers," one industry member told ET, adding “The other ask is that RBI should publish the interoperability guidelines for wallets.” Some of these concerns, especially full KYC compliance, were raised at the meeting, according to those present. PPIs are currently seeing monthly transactions of Rs 6,000 crore, of which about Rs 4,000 crore is from money transfers while corporate solutions such as smart cards for expense management constitute about Rs 500 crore, ET quoted people with knowledge of the matter.

Mobile wallets are not happy with RBI’s latest draft guidelines. Here’s why

<ul><li>On 16 October, the Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) issued a set of guidelines pertaining to the transfer of money between different mobile wallets such as <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>, Oxigen and MobiKwik. </li><li>The quick and seamless transfer between mobile wallets will make them a natural substitute for bank accounts and lead to a spurt in digital payment transactions. </li><li>As of right now, e-wallets function as closed-loop systems, which means that funds aren’t allowed to be transferred between mobile wallets run by different companies.</li></ul>On 16 October, the Reserve Bank of India (RBI) issued <a href="https://rbi.org.in/Scripts/NotificationUser.aspx?Id=11393&amp;Mode=0">a set of guidelines</a> pertaining to the transfer of money between different mobile wallets such as Paytm, Oxigen and MobiKwik, which are formally categorised as “pre-paid instruments”. As of right now, e-wallets function as closed-loop systems, which means that funds aren’t allowed to be transferred between mobile wallets run by different companies. The quick and seamless transfer between mobile wallets will make them a natural substitute for bank accounts. It will also enable issuers of mobile wallets and customers to clear and settle transactions using one platform instead of multiple payment systems. The rules allow for the transfer of money between one mobile wallet to another, and from a mobile wallet to a bank account and vice versa through the <keyword id="2736678" type="COMPANY" weightage="20" keywordseo="Unified-payments-interface">Unified Payments Interface</keyword> (UPI), the instant payment transfer system developed by the National Payments Corporation of India for transferring funds between bank accounts through mobile apps. The system is regulated by the RBI. The process of “interoperability” will be implemented in a phased manner. The first phase - to be completed within the next six months - will involve the transfer between different mobile wallets while the second will involve the transfer between mobile wallets and accounts registered with scheduled commercial banks. The third and final stage will involve the issuance of stand-alone payment cards by mobile wallet providers. All mobile wallet accounts that are in compliance with KYC norms will be eligible for money transfers. There will be no minimum net worth requirement. In addition to addressing the <keyword id="772857" type="PERSON" weightage="20" keywordseo="interoperability">interoperability</keyword> of e-wallets, the guidelines also comprise avenues for customers to escalate grievances. The move by India’s central bank is aimed at facilitating a spurt in digital payment transactions, which are already growing at a commendable rate, which is surprising given the plethora of know-your-customer (KYC) requirements that digital payments firms have been faced with since March. For example, in August 2018, the number of <keyword id="6356915" type="UNKNOWN" weightage="20" keywordseo="e-wallet">e-wallet</keyword> transactions reached a total volume of <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/43CT_111020184D60CBF5ACBA43AF9E703986EAAF71AD.PDF">₹155.7 billion</a> - a record high.

The RBI's new guidelines will allow you to transfer funds between different mobile wallets

<ul><li>Launches 3 unique ads on digital platforms for raising awareness on direct bank transfers using mobile number.</li><li>Showcases easy of Money Transfers from Paytm app at Zero charge, without the need for Wallet KYC.</li></ul>Paytm has launched 3 new ads on social media, as part of its new #MoneyTransferHuaEasy campaign to raise awareness of how instant money transfer through the Paytm app remains a quick, safe and easy way to directly send and receive money into one's Bank accounts. The films, targeted at millenials, highlight how by simply choosing the recipient's Mobile number, users can transfer money directly from their bank a/c at zero charge. Without the need for wallet KYC. The films feature internet sensations <keyword id="8944292" type="PERSON" weightage="20" keywordseo="saloni-gaur">Saloni Gaur</keyword>, Danish Sait and Paytm's very own, and the guy best known for Trivago's ads, <keyword id="193898" type="PERSON" weightage="20" keywordseo="Abhinav-Kumar">Abhinav Kumar</keyword>. <div type="Youtube" id="oNUwQ7Zirfo" title="Money Transfer hua Easy! ft. Abhinav Kumar" thumbUrl="https://i.ytimg.com/vi/oNUwQ7Zirfo/mqdefault.jpg"></div> Prior to this, the company had launched multiple TV ads that had struck a chord with millions of Indians. While the public interest in the entire campaign has remained massive, certain scenes from the earlier ads have become especially popular due to the portrayal of episodes from everyday lives. These included a scene from an Indian wedding ceremony where the groom transfers money to his sister-in-law’s bank account by just using mobile number and in return, gets back his shoes from her, had a take on the popular Indian marriage tradition. Another scene of a young female tenant paying her rent through the Paytm app, to her landlord's shy son, also got major positive reviews. <div type="Youtube" id="e2hjxPf0T4E" title="Money Transfer hua Easy! ft. Saloni Gaur" thumbUrl="https://i.ytimg.com/vi/e2hjxPf0T4E/mqdefault.jpg"></div> With the latest series of films, the company has now released 6 large scale entertaining films as part of its initiative to highlight the ease of making digital payments without the need of completing their Wallet KYC. Apart from the obvious benefits, users are also assured of sturdy security architecture, the best success rate for transactions in the industry and a chance to win assured cashbacks. <div type="Youtube" id="6b0jFDTNGs0" title="Money Transfer hua Easy! ft. Danish Sait" thumbUrl="https://i.ytimg.com/vi/6b0jFDTNGs0/mqdefault.jpg"></div> Abhinav Kumar, Vice President at Paytm said, "Paytm remains committed to expanding the reach of affordable and easy to use technology, to every citizen. We believe that digital payments solutions are not only a great enabler in addressing daily challenges but also helps improve the quality of lives of our fellow countrymen. Consumers now have the option of instantly making payments directly from their Bank accounts, by simply entering the recipient’s mobile number on the Paytm App. No other steps such as Wallet KYC are required, while transaction charges are also absent. The new marketing campaign reflects that and is geared around taking forward this message to the consumers, making them aware of the digital payments options they have. It also aims to further promote our mission to increase seamless digital transactions across the country."

Trivago’s Abhinav Kumar features in his first Paytm ad

<ul><li><keyword id="4009819" type="PERSON" weightage="20" keywordseo="Amazon-Pay">Amazon Pay</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> <keyword id="418872" type="PERSON" weightage="20" keywordseo="digital-wallet">digital wallet</keyword> in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>, is rolling out user verification (KYC) for its customers.</li><li>Reportedly submitting biometrics using <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> credentials is a faster process for verification than other physical documents. </li><li>But concerns related to Aadhaar aren’t about its convenience, but about its security.</li></ul>Amazon Pay is the next digital wallet to roll out physical customer verification — but there’s a catch. If you use your <keyword id="6356006" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-card">Aadhaar card</keyword> for verification, the process is a lot quicker than if you other methods of verification — passport, drivers license, voter ID, or bank statements. It’s not really Amazon’s fault because the biometric verification through Aadhar is simple matter of verifying your fingerprint through a fingerprint reader. But, with other physical documents, the company needs people on the ground to verify the authenticity of the documents. Simply put, the verification through Aadhaar is a lot cheaper for Amazon as compared to using other documents for physical verification. Amazon Pay and other digital wallets have to enforce user verification in line with the Reserve Bank of India’s new policy on data localisation. Not an Amazon-specific problem India’s central bank, the Reserve Bank of India, rolled out its data localisation policy rendering 95% of mobile wallets in the country vulnerable to being shut down. The directive of the policy makes it mandatory for all digital wallets to have biometrics or physical customer verification in place. Even PayTM nudged its users into adopting KYC in order to continue using their wallets. If your PayTM account isn’t verified, you can still receive payments from other users and make payments at retail outlets using the QR-code but you can’t send out money to other users directly. Other digital wallets like MobiKwik have shifted to diversifying themselves because they haven’t been able to push their customers towards KYC norms with RBI’s February deadline coming up. The case with Aadhaar India’s top court has already ruled that private companies can’t make it ‘mandatory’ for Aadhaar to be the only method of user verification. But that doesn’t negate it as an option. The issue that people are facing with Aadhaar isn’t whether or not it’s convenient, but whether or not it’s safe. The series of data breaches associated with the Aadhaar system didn’t happen through actual government database, but through third-party organisations that were using Aadhaar information as user identification. A <a href="https://timesofindia.indiatimes.com/india/80-people-concerned-about-aadhaar-data-security-study/articleshow/64382747.cms">study </a>by Velocity MR estimates that as many as 80% of respondents in India are concerned about data security when it comes to giving out their Aadhaar card information anywhere. It’s not just about identity theft but information being leaked that leads to customers being spammed over text and email — or even phished. This is probably why Amazon is looking to roll out its own Unified Payments Interface (<keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="upi">UPI</keyword>) because, in that case, KYC isn’t mandatory for setting up an account. The verification done by the respective banks is enough. See also: <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a> <a href="https://www.businessinsider.in/indian-government-portal-leaks-8-9mn-aadhaar-details-again/articleshow/63924186.cms">Indian government portal leaks 8.9mn Aadhaar details, again</a> <a href="https://www.businessinsider.in/supreme-court-clarifies-that-aadhar-isnt-mandatory-for-a-new-sim-connection/articleshow/63928188.cms">Supreme Court clarifies that Aadhar isn’t mandatory for a new SIM connection</a>

This is why Amazon wants your Aadhaar number

<keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>, the mobile payments and commerce firm headquartered in Noida is looking at the coming year with hopeful eyes. As per reports, it is expecting its 110 million wallet users to add about $500 million in their wallets in 2016, which means a tenfold rise from 2015. 
 "In 2015, we saw wallets become mainstream. Next year, as more and more businesses push marketing dollar spends to cashbacks and wallets, the recharge value and frequency will steadily increase," Paytm founder <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> told ET. 
 
This projected figure doesn’t count cashbacks that the company offers its customers when they do e-commerce transactions via Paytm. 
Sharma is expecting to see startups offering a lot of extras including loans and insurances built on top of wallets next year, which would help them competing with credit cards, if not replacing them. 
 
As per existing norms set by the RBI, Paytm has to restrict its customers to Rs 10,000 wallet recharge per month on a mobile number and email ID verification. In order to do transactions above this amount, customers need to adhere to full Know Your Customer (KYC) norms, the process of which is like opening a bank account. 
 Paytm, which was started in 2010, is backed by China's giant <keyword id="163405" type="CITY" weightage="100" keywordseo="Alibaba-Group">Alibaba Group</keyword> and affiliate <keyword id="2702533" type="UNKNOWN" weightage="100" keywordseo="Ant-Financial">Ant Financial</keyword>, and faces competition from <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword>, <keyword id="6377963" type="UNKNOWN" weightage="100" keywordseo="Freecharge">FreeCharge</keyword>, <keyword id="545632" type="UNKNOWN" weightage="100" keywordseo="Airtel-Money">Airtel Money</keyword> and <keyword id="1493568" type="UNKNOWN" weightage="100" keywordseo="PayU">PayU</keyword>, all big names in the e-wallet business. 
 
<a href="http://economictimes.indiatimes.com/photo/48155124.cms">Image source</a>

Santa’s come visiting Paytm! Its wallet size expected to increase tenfold in 2016

In India, as of 2011, only 35% Indians had bank accounts. As of this month, Indian government’s effort under <keyword id="2493931" type="PERSON" weightage="20" keywordseo="Pradhan-Mantri-Jan-Dhan-Yojna">Pradhan Mantri Jan Dhan Yojna</keyword> led to 306 million JDY accounts opening since its launch in 2014. The mission to provide no-frills, no-minimum-balance bank accounts to every adult including the ones below the poverty line has been remarkably successful, to say the least. The premise of PMJDY was to lower bank transactions costs so that millions of Indians who lacked access to financial services could finally be financially included. The launch of another new service coupled with the increase in mobile data usage could prove to be a highway to not only get more Indians financially secure but also encourage savings and digital adoption. The watershed moment? <keyword id="3236791" type="ORGANIZATION" weightage="60" keywordseo="Paytm-payments-bank">Paytm Payments bank</keyword> has finally launched as India’s mobile-first bank with zero charges on all online transactions and no minimum balance requirement. <keyword id="6357120" type="PERSON" weightage="20" keywordseo="PayTM">Paytm</keyword> <keyword id="2324069" type="ORGANIZATION" weightage="20" keywordseo="Payments-Bank">Payments bank</keyword> will be a part of the popular Paytm wallet app. <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, CEO, Paytm said during the launch that the entire wallet business is currently contribution positive and by financial year 2018 he expects the Payments Bank business to facilitate one lakh transactions. Sharma still owns majority stake in the new bank, and the remaining share is owned by One97 Communications Ltd. Business Insider spoke to <keyword id="2807104" type="PERSON" weightage="60" keywordseo="Renu-Satti">Renu Satti</keyword>, CEO, Paytm Payments Bank who reaffirmed the company’s commitment to serving the large un-served and under-served population “We are committed to offering the most transparent, safe and trusted banking to masses and aim at onboarding 500 million people on the platform in the next three years." How does it compare Paytm Payments Bank has planned an investment of $500 million in KYC (Know Your Customer) operations and is setting up KYC centers across India to complete KYC for customers and make them eligible for a Payments Bank account. The bank will have 31 branches all over India by the end of this year. The bank also plans on opening ATM branches and 'people' branches for cash disbursements. The Payments bank is offering benefits like zero-balance account, free IMPS, NEFT, RTGS, and <keyword id="6358921" type="ORGANIZATION" weightage="20" keywordseo="UPI">UPI</keyword> transactions. Paytm Payments Bank account holders will also be eligible to earn an interest of 4 per cent on savings every month and offered a free insurance cover of up to Rs 2 lakh in case of death or permanent disability according to the company’s terms and conditions.The account holders of Paytm Payments Bank will get a free digital debit card after signing up but they can also ask for a physical Rupay card, which will cost Rs 100 excluding delivery charges. It also has some limitations like it can't offer financial products of their own as a business entity, but it can act as a business correspondent and partner with other financial institutions and banks to offer loans, fixed deposits, insurances and mutual funds. Paytm Payments bank is also providing customers with a physical cheque book and Passbook on request but <keyword id="2939236" type="PERSON" weightage="20" keywordseo="Satti">Satti</keyword> says that they will always be digital-first, “We have created a customer-centric product which will be easy to adopt on mobile. While we don’t want to limit our customers, we will ensure everything is available on the app itself.” Satti maintains that the bank will be soon start lending to create better access to easy loans and the Paytm Payments Bank aims to be EBITDA profitable in the next two years. “A great product should be easily adoptable and we want to make banking easy for the masses. We will also be launching loyalty programs to onboard the people who are already a part of the formal banking system," she signs off. Here are the charges the new digital bank will levy: ATM Transactions Non-metro Locations: 5 free every month; post that Rs 20/transaction Balance check: Rs 5/transaction Metro Locations: 3 free every month; post that: Rs 20/transaction Mini statement, Balance check: Rs 5/transaction Annual subscription for physical RuPay Debit Card: Rs 100 annually Cheque book (10 leaves): Rs 100 and delivery charges Charges on Paytm Wallet Paytm Wallet to <keyword id="6024275" type="ORGANIZATION" weightage="20" keywordseo="bank-transfer">Bank Transfer</keyword> - Basic Customer 3 per cent Paytm Wallet to Bank Transfer - KYC Customer 3 per cent

India’s first mobile bank with zero-fee online transactions and no minimum balance is on your Paytm app

<ul><li>Only 48% of urban merchants accept digital payments, according to a report. </li><li>Beyond awareness, infrastructure is still one of the biggest challenges faced by merchants. </li><li>Digital payments today accounts to just 10% of all transactions in India. </li></ul>Digital payments in India took off in a massive way right after demonetization, with the likes of Paytm leveraging the government move to become a household name. However, a new study now reveals that more than half of the shops in Indian cities want to stay away from digital payments. Awareness is not enough get Indians to use digital payments as only 48% of merchants accept digital payments, according to a report done by CUTS international. Expensive and unreliable infrastructure, unaware customers, lack of interoperability, transaction failures and charges are reasons why merchants don't prefer digital payments in India. Digital payments is still considered to have a big opportunity in India and even the likes of giants like Google didn’t want to shy away from it. Google had launched its first ever digital payments app Tez which is now called Google Pay in September 2017. However, even <a href="https://www.medianama.com/2018/09/223-google-pay-india-25m-maus/">Google Pay </a>which managed to have 25 million monthly active users, has only 1.2 million businesses on the platform in India. Cash is still king in India and digital payments today holds a mere <a href="https://economictimes.indiatimes.com/news/economy/finance/rbi-should-offer-digi-payment-licences-on-tap-says-industry/articleshow/67906710.cms">10% </a>of all transactions in the country. Recognising that, the Payments Council of India recently submitted recommendations to the newly-formed panel by the government for digital payments. The panel is headed by industry veteran Nandan Nilekani. The PCI suggested seamless <a href="https://yourstory.com/2019/02/india-rbi-digital-payments-council">access</a> to payments infrastructure and formation of a KYC bureau among multiple other things. While right after demonetization going cashless meant digital payments saw a huge spike in numbers, in 2018 the conversation rate actually fell. According to <a href="https://www.business-standard.com/article/current-affairs/upi-s-value-grew-700-in-2018-while-total-digital-payments-fell-1-119011300209_1.html">data</a> from the Reserve Bank of India, there was a one percent fall in digital payments in November 2018 when compared to November 2017. Regulations, too, form a major role in the adoption of digital payments in India. While the current government has been encouraging of India’s shift to digitization and has been promoting a <keyword id="3870560" type="PERSON" weightage="20" keywordseo="Cashless-India">cashless India</keyword>, mandates like compulsory KYC had halted the operations of many payment wallets. “More than 95% of the mobile wallets in the country could stop being operational by March,” said a senior executive with a New Delhi-based payments company to <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-kyc-deadline-may-punch-a-hole-in-wallet-companies-plans/articleshow/67430125.cms">ET. </a> See Also: <a href="https://www.businessinsider.in/rbi-wary-of-financial-fraud-by-anydesk/articleshow/68043224.cms">India’s central bank tells digital wallets to avoid this app linked to compromising confidential user data</a> <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a> <a href="https://www.businessinsider.in/risky-business-indian-smartphone-users-have-a-whopping-50-apps-on-a-single-device-and-theyre-not-even-using-half-of-them/articleshow/67059536.cms">Risky business: Indian smartphone users have a whopping 50 apps on a single device, and they're not even using half of them</a>

Did you know: More than half the shops in Indian cities don't accept digital payments

Automobile major <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword> has initiated a new end-to-end solution for scrapping of old <keyword id="36810" type="ORGANIZATION" weightage="20" keywordseo="vehicles">vehicles</keyword>. The company has signed an MoU with <keyword id="45224" type="DOMAIN" weightage="20" keywordseo="Mahindra">Mahindra</keyword> MSTC Recycling Private Ltd (MMRPL) towards offering its customers first of its kind end-to-end solution for scrapping of vehicles. At present, MMRPL is engaged in the business of acquiring used or end of life vehicles to dismantle and scrap it under the brand name of CERO. "Any customer intending to purchase a new Mahindra vehicle by scrapping or exchanging the old vehicle which is more than 15 years can do so at any Mahindra dealership. "These services would provide utmost convenience to the customer without the need to look for a vehicle scrapping agency or dealer," a company statement said. Last month, <keyword id="61316" type="COMPANY" weightage="20" keywordseo="Road-transport">Road Transport</keyword> and Highways Minister <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> announced a new vehicle scrappage policy aimed at creating an eco-system to eliminate old and polluting vehicles. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a> <a href="https://www.businessinsider.in/tech/news/how-to-check-if-your-phone-number-was-leaked-in-facebook-data-breach/articleshow/81946319.cms">How to check if your phone number was leaked in Facebook data breach of 533 million users</a> <a href="https://www.businessinsider.in/finance/news/rbi-forecast-shows-that-narendra-modi-administration-is-facing-its-worst-inflation-period-so-far/articleshow/81946820.cms">RBI forecast shows that Narendra Modi administration is facing its worst inflation period so far</a>

Mahindra & Mahindra initiates new end-to-end solution for old vehicle scrappage

<keyword id="6363239" type="COMPANY" weightage="20" keywordseo="luxury">Luxury</keyword> car maker <keyword id="25952" type="COMPANY" weightage="20" keywordseo="Mercedes-Benz">Mercedes-Benz</keyword> on Wednesday reported a year-on-year sales growth of 34 per cent in Q1 of 2021. The company sold 3,193 units in the January-March 2021 period, hinting at a strong <keyword id="6358025" type="UNKNOWN" weightage="20" keywordseo="recovery">recovery</keyword> ahead. It said the healthy performance came on the <keyword id="6484914" type="UNKNOWN" weightage="20" keywordseo="back">back</keyword> of strong sales during January and February which remained at pre-Covid level, and also due to the recovery in March sales. "2021 has begun on a strong note for us as we look for substantial sales recovery this year. The Q1 2021 sales momentum combined with the growing availability of <keyword id="11061977" type="UNKNOWN" weightage="20" keywordseo="volume-models">volume models</keyword>, will create a strong base for further recovery in coming quarters," Mercedes-Benz India Managing Director &amp; CEO <keyword id="6690549" type="PERSON" weightage="20" keywordseo="Martin-Schwenk">Martin Schwenk</keyword> said. "With a solid order bank for most of our volume models extending into months, we are very confident of driving growth back in the coming months. We hence start Q2 with a positive outlook buoyed by the growing availability of our newly introduced models, combined with the market debut of some of the most awaited products that will redefine the luxury segment completely." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-shares-list-at-2-discount/articleshow/81944700.cms">Barbeque Nation bears the brunt of an uncertain future – shares list at 2% discount</a> <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

Mercedes-Benz India YoY sales growth up 34% in Q1 CY21

Swedish music streaming service <keyword id="685487" type="LOCATION" weightage="20" keywordseo="Spotify">Spotify</keyword> on Wednesday announced a slate of new podcasts from <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, including four new Spotify <keyword id="2119317" type="PERSON" weightage="20" keywordseo="Originals">Originals</keyword> and one exclusive podcast partnership. The Originals include <keyword id="11059435" type="UNKNOWN" weightage="20" keywordseo="tamil-talk-show">Tamil talk show</keyword> "The RJ Balaji Podcast", <keyword id="6357660" type="PERSON" weightage="20" keywordseo="hindi">Hindi</keyword> comedy podcast "Andar Ki Baat by Amit Tandon", psychological horror show "Darr Ka Raaz with Dr. Phobia" and true crime series "Crime Kahaniyan". The company has also signed an exclusive deal for multiple children's podcasts produced by gaathastory. "Over the last year, we've seen an increased shift toward audio across demographics in India. In a video-saturated world, podcasts are a medium that nurture imagination, and can accompany <keyword id="674406" type="PERSON" weightage="20" keywordseo="Listeners">listeners</keyword> no matter where they are, or what they are doing," <keyword id="1901642" type="PERSON" weightage="20" keywordseo="Amarjit-SIngh-Batra">Amarjit Singh Batra</keyword>, Managing Director - India, Spotify, said in a statement. "We are continuing our effort to bring relevant, relatable local content with a focus on storytelling, crime, and talk shows with talented creators and hosts," Batra added. This diverse content acquisition aligns with the brand's strategy to cater to as many listeners in India as possible through relevant, relatable and exciting audio content, the company said. Globally, Spotify has more than 2.2 million podcasts on the platform. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-shares-list-at-2-discount/articleshow/81944700.cms">Barbeque Nation bears the brunt of an uncertain future – shares list at 2% discount</a> <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

Spotify announces new podcasts for Indian listeners including four new Originals and one exclusive podcast partnership

A <keyword id="42907" type="PERSON" weightage="20" keywordseo="trial">trial</keyword> of the <keyword id="9605255" type="COMPANY" weightage="20" keywordseo="oxford-astrazeneca">Oxford-AstraZeneca</keyword> Covid-19 <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> on children in the UK has been paused even as the country's medicines regulator probes a possible link of the vaccine with <keyword id="10973345" type="UNKNOWN" weightage="20" keywordseo="rare-blood-clots">rare blood clots</keyword> in adults, the media reported. The trial, which started in February, is evaluating whether the vaccine generates a strong immune response in those aged between 6 and 17. While the trial has been paused, Professor Andrew Pollard from the University of Oxford ruled out safety concerns with the trial itself, the BBC reported on Wednesday. What the scientists are waiting for is more information, said the report. "Whilst there are no safety concerns in the paediatric clinical trial, we await additional information from the MHRA (Medicines and Healthcare products Regulatory Agency) on its review of rare cases of thrombosis/thrombocytopaenia that have been reported in adults, before giving any further vaccinations in the trial," Pollard was quoted as saying by the BBC. The suspension of the trial of the vaccine comes after a European Medicines Agency (EMA) official, speaking in a personal capacity, said there could be a link between the coronavirus vaccine developed by <keyword id="6409874" type="DOMAIN" weightage="20" keywordseo="astrazeneca">AstraZeneca</keyword> and very rare cases of blood clots in adults, although it remains unclear what the connection is and the possible causes are likewise still unknown. Meanwhile, UK Prime Minister <keyword id="6380867" type="PERSON" weightage="20" keywordseo="boris-johnson">Boris Johnson</keyword> said that Britain should continue rolling out the AstraZeneca vaccine despite concerns about occasional reported cases of blood clots. He said that the current advice of the country's medicines regulator, is to "keep going out there, get your jab, get your second jab" and "we need to keep that going". The vaccines are already "starting to have a beneficial effect on the trajectory of the disease", said Johnson, noting the falling number of cases and deaths in the country. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-shares-list-at-2-discount/articleshow/81944700.cms">Barbeque Nation bears the brunt of an uncertain future – shares list at 2% discount</a> <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

AstraZeneca's UK vaccine trial on kids comes to a halt

A successful doctor couple in their 60s, who live in the posh Gomti Nagar locality in Lucknow, received both doses of <keyword id="8764262" type="PERSON" weightage="20" keywordseo="covid">Covid</keyword> <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> last month. Re-energised, they resumed private practice at their clinic. But to their horror, both of them have now been found Covid positive. A family member told on condition of anonymity that even she and her kid are now Covid positive as she visited her parents in the last few days. They are not alone as news emerged from Lucknow that at least 40 doctors of King George's Medical University (KGMU), including Vice Chancellor Lt Gen (retd) Vipin Puri, have tested positive for novel coronavirus, despite most of them taking both the doses of the vaccine. Alarmingly, this is the second time since last August that Vice Chancellor Puri has been infected by the virus, indicating that re-infection is also happening. He was administered the second dose of vaccine on March 25. As India doubles down on vaccination, such reports are worrisome as they may desist people from going for the jab. Satish Kaul, <keyword id="59888" type="COMPANY" weightage="20" keywordseo="HoD">HOD</keyword> and Director, internal medicine, Narayana Hospital, Gurugram, said that the vaccine basically provides protection from the severity of the <keyword id="6361612" type="UNKNOWN" weightage="20" keywordseo="disease">disease</keyword>. "It saves us from getting chronically sick; it potentially saves us from ICU, ventilator and oxygen support and helps weaken the mechanism of the disease in human body," Kaul told. "Hence, vaccine beneficiaries are supposed to continue wearing <keyword id="9418" type="PERSON" weightage="20" keywordseo="masks">masks</keyword>, maintain social distancing and observe Covid-appropriate behaviour even after getting vaccinated. Also, after taking the second dose, be extra cautious for at least two weeks and follow all precautionary measures," he advised. WHO spokesperson Margaret Harris said during a <keyword id="6355833" type="COMPANY" weightage="20" keywordseo="united-nations">United Nations</keyword> news briefing on Tuesday that at this stage, "we would not like to see <keyword id="11054922" type="UNKNOWN" weightage="20" keywordseo="vaccination-passports">vaccination passports</keyword> as a requirement for entry or exit because we are not sure at this stage that the vaccine prevents transmissions". Vaccine passports are the digital proof that a person is fully vaccinated before starting any travel. A few options for vaccine passports exist for Americans and other countries and regions are also working on such digital travel documents. According to Neha Gupta, infectious diseases specialist at Medanta-The Medicity Gurgaon, vaccination doesn't guarantee 100 per cent immunity against novel coronavirus. "However, the vaccine decreases the severity of the disease. It's important to continue Covid-appropriate precautions like wearing fitted mask, hand hygiene and social distancing," she told. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-shares-list-at-2-discount/articleshow/81944700.cms">Barbeque Nation bears the brunt of an uncertain future – shares list at 2% discount</a> <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

You Searched For "kyc for mobile wallets" and got 12 results

Mobile wallets are not happy with RBI’s latest draft guidelines. Here’s why

BI India Bureau

The RBI's new guidelines will allow you to transfer funds between different mobile wallets

Dilsher Dhillon

Trivago’s Abhinav Kumar features in his first Paytm ad

BI India Partner

This is why Amazon wants your Aadhaar number

Prabhjote Gill

Santa’s come visiting Paytm! Its wallet size expected to increase tenfold in 2016

BI India Bureau

India’s first mobile bank with zero-fee online transactions and no minimum balance is on your Paytm app

Tanya Dubey

Did you know: More than half the shops in Indian cities don't accept digital payments

Sanchita Dash

Mahindra & Mahindra initiates new end-to-end solution for old vehicle scrappage

IANS

Mercedes-Benz India YoY sales growth up 34% in Q1 CY21

IANS

Spotify announces new podcasts for Indian listeners including four new Originals and one exclusive podcast partnership

IANS

AstraZeneca's UK vaccine trial on kids comes to a halt

IANS

Doctor couple tests positive after receiving two doses of COVID-19 vaccine in Lucknow

IANS

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