MPs among hundreds detained to avert BJP’s Mangaluru Chalo

Bengaluru, Jan 16: Amping up the online payment experience for consumers, Razorpay, the leading full-stack financial services company, today launched a new product, Instant Refunds for businesses.

This new feature activates refunds and credits the customer's source account across payment methods such as credit card, net banking, and UPI within a minute of initiation.

India is one of the fastest-growing online retail markets today. About 71 per cent of internet users in the country purchase products online. Today, the refund process has two major pain points for both the end customer and the business.

First, a delay of five-seven business days for the customer in receiving the money because of multiple intermediaries like the acquiring bank, issuing bank and the networks (VISA/MasterCard/Rupay).

Second, the lack of transparency during the entire refund process for both the customer and the business. This long cycle of processing refunds is a significant problem with every popular payment method in the industry.

By issuing refunds instantly, Razorpay will help businesses retain their customers, build trust through an improved hassle-free payment experience and provide complete transparency on refunds to both the business and the end-user.

This new feature will also reduce the dependence on manpower as every refund issue on an average leads to ten service emails or calls from customer support teams.

"Instant Refunds are the new normal and central to great customer experience. A lot of consumers fail to use online payment methods as they feel getting refunds through an online platform is a very time-consuming task; hence they prefer CoD as the best alternative. Given the technological advancements being made in the fin-tech ecosystem, its fair for customers to expect refunds as fast as possible. A solution like Instant Refunds will not only help build consumer confidence in digital payments but also reduce losses for e-commerce companies where CoD has become an expensive option with more than 50 per cent online transactions made through cash", said Shashank Kumar, CTO & Co-founder of Razorpay.

"Our Instant Refunds feature ensures that the refund is processed at a 3600x faster pace than the normal expected time of five-seven business days. The team is focused on creating new technologies designed to make the entire payment lifecycle hassle-free. We believe this new feature will make customers experience a notch higher, help brands create a competitive advantage, and even make them more profitable", he added.

Razorpay's growth has been uphill, particularly in the last two years. With a 500 per cent growth in 2019, the company has been witnessing a healthy growth rate of 35 per cent month-on-month.

The company also recently launched its corporate credit cards for its partner businesses, RazorpayX current accounts, support for freelancers and homepreneurs, and acquired Opfin, a payroll and HR management software company.

Currently powering payments for over 800,000 businesses including the likes of Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony, and Oyo, the team plans to increase this count to 1,400,000 by this year. The full-stack financial solutions company expects a 4x growth in its revenue by the end of the next fiscal year.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

Bengaluru, Jan 21: Braving the biting cold, chief minister BS Yediyurappa took time out of his busy schedule to go around Davos on Monday.

Clad in a long coat over a suit, scarf and leather gloves, Yediyurappa, with secretary S Selvakumar in tow, took in the sights of well-laid bylanes, quaint houses and snow-covered pine trees. He also rode a cable car at Persenn.

A cook from Andhra Pradesh, who works at an Indian restaurant in Davos, served the CM shavige uppittu and khara pongal for breakfast. Yediyurappa had chapatis and rice for dinner.

Meanwhile, Karnataka is likely to have a ‘Centre for Internet of Ethical Things’, perhaps, the world’s first, which will seek to ensure ethical practices in trade and businesses, besides addressing issues like misuse of artificial intelligence, a concern that has been bothering business leaders across the globe.

At the World Economic Forum in Davos, Yediyurappa signed an informal agreement with Murat Sonmez, the forum’s managing director, on Monday. "Investors around the globe are worried about unethical practices in business and a centre is the need of the hour," Sonmez was quoted as saying in a press release. "If the Karnataka government is serious about securing investment, it should set up the centre immediately."

Yediyurappa immediately responded to the suggestion by prompting Sonmez to write down an informal agreement on a sheet of paper which both signed. "This centre will go a long way in Karnataka’s history of industrial development," Sonmez was quoted as saying in a release by the Karnataka delegation.

At the inauguration of Karnataka’s pavilion, Yediyurappa promised all support to investors. "We are happy to be here and look forward to engage you on various development agenda," he said adding that he was keen to partner on certain strategic research that can help Karnataka become a major player on the global stage. "With Karnataka emerging as a leading industrial state in India, we can make it a major player on the global stage," he said.

Industries minister Jagadish Shettar, chief secretary TM Vijaya Bhasker and industries secretary Ramana Reddy were also signatories to the informal agreement.

Washington, Apr 29: A US government panel on Tuesday called for India to be put on a religious freedom blacklist over a "drastic" downturn under Prime Minister Narendra Modi, triggering a sharp rebuttal from New Delhi.

The US Commission on International Religious Freedom recommends but does not set policy, and there is virtually no chance the State Department will follow its lead on India, an increasingly close US ally.

In an annual report, the bipartisan panel narrowly agreed that India should join the ranks of "countries of particular concern" that would be subject to sanctions if they do not improve their records.

"In 2019, religious freedom conditions in India experienced a drastic turn downward, with religious minorities under increasing assault," the report said.

It called on the United States to impose punitive measures, including visa bans, on Indian officials believed responsible and grant funding to civil society groups that monitor hate speech.

The commission said that Modi's Hindu nationalist government, which won a convincing election victory last year, "allowed violence against minorities and their houses of worship to continue with impunity, and also engaged in and tolerated hate speech and incitement to violence."

It pointed to comments by Home Minister Amit Shah, who notoriously referred to mostly Muslim migrants as "termites," and to a citizenship law that has triggered nationwide protests.

It also highlighted the revocation of the autonomy of Kashmir, which was India's only Muslim-majority state, and allegations that Delhi police turned a blind eye to mobs who attacked Muslim neighborhoods in February this year.

Coronavirus state-wise India update: Total number of confirmed cases, deaths on April 29

The Indian government, long irritated by the commission's comments, quickly rejected the report.

"Its biased and tendentious comments against India are not new. But on this occasion, its misrepresentation has reached new levels," foreign ministry spokesman Anurag Srivastava said.

"We regard it as an organization of particular concern and will treat it accordingly," he said in a statement.

The State Department designates nine "countries of particular concern" on religious freedom -- China, Eritrea, Iran, Myanmar, North Korea, Pakistan, Saudi Arabia, Tajikistan and Turkmenistan.

The commission asked that all nine countries remain on the list. In addition to India, it sought the inclusion of four more -- Nigeria, Russia, Syria and Vietnam.

Pakistan, India's historic rival, was added by the State Department in 2018 after years of appeals by the commission.

In its latest report, the commission said that Pakistan "continued to trend negatively," voicing alarm at forced conversions of Hindus and other minorities, abuse of blasphemy prosecutions and a ban on the Ahmadi sect calling itself Muslim.

India's citizenship law fast-tracks naturalization for minorities from neighbouring countries -- but not if they are Muslim.

Modi's government says it is not targeting Muslims but rather providing refuge to persecuted people and should be commended.

But critics consider it a watershed move by Modi to define the world's largest democracy as a Hindu nation and chip away at independent India's founding principle of secularism.

Tony Perkins, the commission's chair, called the law a "tipping point" and voiced concern about a registry in the northeastern state of Assam, under which 1.9 million people failed to produce documentation to prove that they were Indian citizens before 1971 when mostly Muslim migrants flowed in during Bangladesh's bloody war of independence.

"The intentions of the national leaders are to bring this about throughout the entire country," Perkins told an online news conference.

"You could potentially have 100 million people, mostly Muslims, left stateless because of their religion. That would be, obviously, an international issue," said Perkins, a Christian activist known for his opposition to gay rights who is close to President Donald Trump's administration.

Three of the nine commissioners dissented -- including another prominent Christian conservative, Gary Bauer, who voiced alarm about India's direction but said the ally could not be likened to non-democracies such as China.

"I am deeply concerned that this public denunciation risks exactly the opposite outcome than the one we all desire," Bauer said.

Trump, who called for a ban on Muslim immigration to the US when he ran for president, hailed Modi on a February visit to New Delhi.