Beef possession not a criminal offence, rules Bombay HC

Mangaluru, Jun 3: A banner that read "Veer Savarkar Flyover Pumpwell" surfaced on the sidewall of the Pumpwell flyover in Mangaluru on Tuesday night.

It is suspected that activists of Bajrang Dal put up the controversial banner. Though it was removed later, it sparked debates on social media and photos of it went viral.

The development comes amid the controversy over the naming of a flyover at Yelahanka in Bengaluru after Savarkar.

A Hindutva ideologue, Savarkar has tendered apology to British imperialists and pledged to support them following his arrest during India’s freedom movement.

Even more than three years after demonetisation and all-out efforts to make most transactions through electronic, cash is still king, as it thrives in a digital India, said fintech start-up Paytm founder Vijay Sekhar Sharma.

"While cashless economy is not possible in India, less cash economy will be in the future. Less cash is the only solution, not the elimination of cash," Sharma told IANS in an interview after unveiling an all-in-one payment gateway on Tuesday.

Asserting that it would take 5-10 years for India to make the transition to digital payments from the traditional mode of cash, Sharma, 41, said the e-payment industry benefitted more from the November 8, 2016 note ban and withdrawal of old Rs 1,000 and Rs 500 denominations.

"I think it (demonetisation) helped the industry despite lack of specific help. But the world has changed since then. It is about the scale of distribution of merchants that is what is propelling digital payments," said Sharma.

Most of the cash not only came back into circulation, but also remains as the mode of payment for the majority due to its convenience for the people used to such transactions.

Expounding Paytm's zero service charge, Sharma said the strategy is sustainable as it leads to acquiring more customers and merchants, enabling newer business opportunities.

Paytm also does not levy a service charge to small merchants for its payments services, unlike organised players like Uber.

"Though there is a monetisation model, the merchants who are small shopkeepers, become our financial services customers as they open a bank account, which is profitable."

Paytm secured a Payments Bank license from the Reserve Bank of India to offer a savings bank account, Rupay debit card and money transfer services.

"We are banking on payment services acquiring customers and merchants who avail banking, lending, insurance, wealth and software services like billing software and business ledger software services eventually," Sharma noted.

The mobile first bank services include zero balance and zero digital transaction charge accounts.

"Basically, payments, cloud, commerce and financial services are a cohort we follow. So, payments is our customer as well as merchant acquisition. If it breaks even, we are happy because other line items make more money, he affirmed.

Noting that in a market like India, one cannot price services at a premium unlike in a developed country like the US, the billionaire businessman said a consumer in a developing country would not be able to afford such a hefty charge.

Forbes ranked Sharma as India's youngest billionaire in 2017, with a net worth of $2.1 billion.

While several countries operate on the model of higher service charges, Sharma said newer business models have to be discovered in India, as customer lifecycle value is accounted for more stages than in other nations.

Asked about an upscale retailer like Zara not giving a wallet payment option during its recent end of season sale in Bengaluru, Sharma said Paytm was addressing such hiccups with its all-in-one payment solutions.

"It's an opportunity, because if the retailer has our all-in-one point of sale machine, where in they enter the amount, it shows both the Quick Response code (QR) and card payment options," he observed.

Sharma compared older swiping payment machine to feature phones and modern ones to feature-rich smartphones.

"If you notice, they look like feature phones and the modern day card machine is more a smartphone like. You can add the smatphone components, which can add the features," reiterated Sharma.

Though Paytm's all-in-one QR point of sale machine integrates the billing system, its chief executive said it was not ideal to have an independent QR feature.

Paytm has 16 million strong merchant user base, which Sharma aims to raise to 26 million base in the next one year.

Sharma has launched in this tech city an all-in-one payment gateway and Paytm Business Payments solution, which enable digital payments through multiple methods for small and medium enterprises (SMEs) and an Android point of sale machine.

With the new gateway solution, collecting digital payments through multiple methods can be achieved seamlessly while Paytm Business Payments solution enables automated vendor payments, including employee salaries and customer refunds among others.

The One97 Communications-owned Paytm aims to help SMEs streamline and digitise their business activities using its new solutions, which enhance the overall efficiency of both accepting and making payments.

Paytm has a data bank of over 200 million saved cards and bank accounts, a feature which enables partner apps to shorten transaction times and propel faster conversions while using the all-in-one payment gateway.

Complementing the two solutions, Sharma also launched an all-in-one Android point of sale machine, which can accept payments through all forms such as cards, wallets, UPI apps and even cash.

The device has a QR code that supports all contact and contactless payments, coming with integrated billing software customized solutions for different sectors such as catering, ticketing, parking and others.

The handheld Android device is equipped with an in-built printer, scanner and can also generate bills.

Valued at $16 billion, Paytm is not alone in the fiercely competitive Indian fintech space where a dozen players like PhonePe, MobiKwik, Kotak 811 and deep pocketed international giants Google Pay and Amazon Pay are in the fray.

Ballari, Jan 5: Thousands of Muslims, joined by the members of various organisations, on Saturday staged a massive protest in the town condemning the provocative speech by Bellary MLA G Somashekar Reddy.

The police caned the agitators after they tried to lay siege to the house of BJP legislator.

The protesters holding national flag took out a rally from Kaul Bazaar, which passed through the major streets, and culminated at Gadagi Channappa Circle. They raised slogans against the BJP and burnt the effigy of Somashekar Reddy.

The protest sent the traffic haywire Gadagi Channappa Circle and the cascading effect of it was seen across the town. SP C K Babu told the agitators that the MLA has been booked for making provocative speech and pleaded them to hold a protest at Municipal College grounds. But the agitators were in no mood to relent.

Inspector General (Bellary Range) I G Nanjundaswamy has rushed to the town to oversee security. The BJP MLA on Friday made inciting remarks against minorities during his speech at a pro-CAA rally in the town.

FIR against Reddy

The Gandhinagar police in the town on Saturday registered an FIR against MLA Somashekar Reddy, for making a provocative speech, under IPC Sections 153 A (promoting enmity between two religions), 295A (insulting religious beliefs) and 505B.

During his speech at a pro-CAA rally on Friday, Reddy had said, "Hindus are 80% of the population while minorities are 17%. What will happen to you if we hit back? Hence, you should be very careful about your moves and steps."

The legislator came down heavily on those staging protests against CAA in Ballari. "We won't keep quiet if another protest is staged against the CAA. Each Hindu is like Shivaji. Nobody will be alive if all Hindus come out to streets holding swords," he had said.