Young scientists from Puttur make it big internationally

Mangaluru, May 22: Following requests from Kannadiga entrepreneurs in Kingdom of Saudi Arabia and persistant efforts of former deputy chairperson of the NRI Forum of Karnataka government Dr Arathi Krishna, the government of India has finally approved the repatriation of stranded Indian expatriate workers amidst prolonged covid-19 lockdown through chartered flights arranged by their employing companies particularly in Gulf region and elsewhere. 

The government has also issued a Standard Operation Protocol (SOP) to be followed to be followed by those who hire the flights. The government's nod will not only allow repatriation of larger number of citizens, who are on wait-lists, but also allows private airlines to get their aircraft, crew, and operational staff actively working again in preparation for resumption of scheduled flights. 

Zakaria Jokatte, CEO of Al-Muzain Est. and K S Sheik, Director of Operations at Expertise Contracting Co. Ltd - both Mangalurean entrepreneurs in Saudi Arabia - were among those who had sought permission to hire chartered flights for the immediate repatriation of their hundreds of employees. 

The NRI entrepreneurs in Gulf have thanked Dr Arathi Krishna for continuously persuading the authorities concerned to issue green signal for the operation of chartered flight at a time when there were only a few scheduled flights under Vande Bharat Mission. 

Welcoming the move Dr Arathi Krishna told coastaldigst.com that Indians stranded in any foreign country can utilize this facility. "Initially, I was approached by Mr Zakaria and Mr Sheik who wanted chartered flights to help their employees fly back to India. I asked them to write to the Indian Ambassador in Saudi Araia Mr Ausaf Sayeed. Then I requested the ambassador to forward the request to Joint Secretary Dr Nagendra Prasad, who is in charge of gulf division in the Ministry of External Affairs, and then to Secretary on charge of Gulf and then I requested Secretary of Economic Relations Mr T S Tirumurti who was also in charge of Gulf to follow this up," she said. 

"There were similar requests for chartered flights from African countries too. Then I persisted officers constantly to take it up to the Foreign Secretary Harsh Vardhan Shringla and Civil Aviation Minister Hardeep Singh Puri and now all the people requesting this from Saudi Arabia have got confirmation from the ministry and communicated by embassy to those who had requested for the chartered flights," she said.

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.

Kasaragod, May 25: An autorickshaw driver from Belur in Kasaragod was admitted for surgery to a hospital after being hit on the head by a falling jackfruit. He was tested positive for the coronavirus. It is not clear how he contracted the viral infection.

“While he was trying to pluck a jackfruit off a tree, one of them fell on him, injuring his spine. His hands and legs were weakened too. His condition required surgery. Our protocol dictates that we subject everyone who require immediate surgery to the covid test, just to be sure. That’s when he tested positive,” said Dr K Sudeep, superintendent of the Pariyaram Medical College in Kannur.

“He had symptoms of Covid-19. But he has no recent travel history or contact with any infected person. We’re not sure if he got it through one of his passengers in the rickshaw. He had visited the district hospital once so he could have got it from there. Anyway, we are examining it and preparing the route maps,” he added.

His family will be quarantined and health workers have begun to trace his immediate primary contacts.

Though there have been a number of cases in Kerala where a person’s source of infection could not be correctly ascertained, such people have gone on to recover without spreading the infection to others.

The Kerala government is conducting testing of high-risk persons on the frontlines, such as police officials, grocery vendors and health workers, as part of its sentinel surveillance programme, but maintains that there’s little evidence of a community spread in the state.