PM Modi to launch APIX, a banking technology for 2 billion people without bank accounts

Agencies
November 13, 2018

Singapore, Nov 13: Prime Minister Narendra Modi will address some 30,000 people at the world's largest gathering of financial technology companies in Singapore this week and launch a banking solution for two billion people without bank accounts worldwide.

Prime Minister Modi will be in Singapore from November 14 to 15 to attend a series of summits, including the East Asian summit and ASEAN meetings.

He is scheduled to speak at the Fintech Festival which has the largest gathering of global Fintech companies and delegates ranging from the industry leaders to smaller start-ups.

He will address 30,000 people at the festival, the biggest event of its kind in the world, the organisers said.

India with 400 exhibitors is the largest contingent at the event.

Modi will launch APIX, a banking technology designed to reach two billion people worldwide who are still without bank accounts.

Designed by software experts based in Hyderabad, Colombo and London, APIX is a sophisticated technology by Boston-headquartered Virtusa, especially for smaller banks, Tier 3 and 4, to reach out to people in the remote regions.

The Prime Minister will be launching the technology at the invitation of Monetary Authority of Singapore, the International Finance Corp of the World Bank and the ASEAN Banking Association, said Nikhil Menon, Virtusa's senior vice president and Asia regional head.

APIX will support banks to reach out to those without bank accounts in 23 countries including the 10 ASEAN members as well as major markets such as India, and small nations including Fiji, said Menon.

Supporting Modi's presence at the festival is India Pavilion of 18 companies.

Eight of these companies are from Mumbai. The Pavilion is organised by the state-owned Maharashtra Information Technology Corp Ltd (MahaIT).

Mumbai Fintechs at the festival are seeking opportunities in the global markets, said MahaIT Fintech Officer Suniti Nanda.

"Mumbai, as a financial hub, is also a gateway for international fintech companies to enter the Indian market," Nanda said, adding that the festival gives opportunities both to understand global market requirements and present the potential of large-scale Indian consumers.

Malaysian fintechs have expressed interest in joining Indian fintechs to venture into India, according to Tushar Shankar, co-founder of Mumbai-based PhiCommerce which is presenting PayPhi, a three-year old cashless system of making payments.

PayPhi is a socio-economic platform enabling the simple villager to dweller in metro to make payment, he said.

The Malaysians want to tap the online buying power for Indian consumers, he said.

"We are also participating in the festival to get deeper understanding of the global market," said Shankar.

He also highlighted that India has been drawing global fintechs' interest as it has emerged as one of the largest system-based payment markets.

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Agencies
July 28,2020

New Delhi, Jul 28: Chief Minister Ashok Gehlot had "unconstitutionally" merged six MLAs of the Bahujan Samaj Party (BSP) with the Congress in Rajasthan, he did the same in his earlier tenure too, for which we wanted to teach him and his party a lesson, said BSP chief Mayawati on Tuesday.

The BSP chief added that her party could have gone to courts earlier but decided to wait for the "right opportunity".

"In Rajasthan, after elections results, BSP gave unconditional support of all its 6 MLAs to Congress. Unfortunately, Chief Minister Ashok Gehlot, out of his malicious intent and to damage BSP, merged them with Congress unconstitutionally. He did the same even during his earlier tenure," Mayawati said here.

"BSP could have gone to the court earlier too but we were looking for the time to teach Congress party and CM Ashok Gehlot a lesson. Now we have decided to go to the Court. We will not let this matter alone. We will go even to the Supreme Court," she added.

The BSP chief further reiterated that the party has asked the six MLAs to vote against the Congress government led by Ashok Gehlot if a trust vote takes place on the floor of the Rajasthan Assembly, failing which "their party membership will be cancelled".
She further said that the merger of BSP MLAs with Congress was immoral and went against the mandate given by voters in Rajasthan.
"Ulta-chor kotwal ko daante (the thief accuses the cop of wrongs) they (Congress) themselves indulge in wrongdoing and then accuse us," she further said.
On Sunday, the BSP issued a whip to six MLAs, asking them to vote against Congress in case of a no-confidence motion or any proceedings to be held during the Rajasthan Assembly session.

National General Secretary of BSP Satish Chandra Mishra, while speaking to news agecncy said, "Notices have been issued to the six MLAs separately as well as collectively, pointing out that since BSP is a National Party, there cannot be any merger at the state level at the instance of six MLAs unless there is a merger of BSP at the national level. If they violate it, they will be disqualified.

Notices have been issued to all six MLAs- - R Gudha, Lakhan Singh, Deep Chand, JS Awana, Sandeep Kumar and Wajib Ali, who are elected to the Rajasthan Assembly."
However, later on Monday, Lakhan Singh, hit back saying he and the five others had already joined the Congress.

"We six MLAs have already joined the Congress. BSP remembered us after nine months. They have issued this whip, after a message from the BJP. On this basis they are going to court", said Karauli MLA Lakhan Singh.

Rajasthan government is in turmoil after simmering differences between Deputy Chief Minister Sachin Pilot and Gehlot came out in the open. Pilot was removed as the Deputy Chief Minister and the state unit chief of Congress.

The Congress has accused the BJP of indulging in horse-trading to bring down the Gehlot government. The BJP has rejected the allegations.

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News Network
January 28,2020

Panaji, Jan 28: Bureaucrat-turned-activist Kannan Gopinathan on Tuesday said even some "RSS people" are convinced the Citizenship Amendment Act is a bad law but are keeping quiet as the NDA government at the Centre is their own baby.

Speaking in Panaji, he further said the Narendra Modi government was behaving like a "drunken teenager" which needs to be questioned or else it will end up destroying homes.

"I was detained twice in UP, kept the whole day, because they (government) do not want the questioning (of CAA). I have met so many RSS people, they also understand this...if you have this conversation, they also understand the government has done something (wrong) and they have been asked to support it," he claimed.

He said the line of thought among these RSS people (he met) was "just support it (CAA)" as they don't want an altercation because the "government is their baby".

"He (government) is not a normal baby, he is a drunken teenager. He should be asked questions because when he starts destroying, he does not destroy somebody else's home but your own home," Gopinathan said.

He also hit out at those who have been claiming that the people protesting against the CAA are unaware about the law and have not even read it.

Gopinathan claimed if one had asked supportive MPs about the CAA on the day it was passed in Parliament, several of them would not have been able to speak on it as "they would not have known what was passed, because they were not given time (to go through the bill)".

He said, earlier, such legislation was passed after several rounds of consultation but "now, by night, it becomes an Act", adding (now) "everything is a surgical strike".

Gopinathan, in a possible reference to the National Register of Citizens exercise carried out in Assam, also claimed "thousands of people are in detention centres".

"It is your fundamental right to peacefully assemble without arms, Article 19 (1) (D) (of the Constitution)," he said at a function organised by a group opposed to CAA.

Gopinathan said people "always felt they were in a democracy" because they never tried to fly, when in reality "you are in a cage".

"The moment you want to fly you realise you are in a cage," he said, adding that "we have to question, we have to ask ourselves where are we going".

"When you don't allow a person to speak against an incorrect legislation, then what is democracy? What is freedom of expression?" Gopinathan questioned.

Gopinathan, a 2012 batch AGMUT cadre Indian Administrative Service officer, was the secretary, Power Department of the Union Territories of Daman and Diu, and Dadra and Nagar Haveli when he resigned on August 21 last year.

At the time, he had claimed the people of Jammu and Kashmir were being denied freedom of expression following abrogation of Article 370 by the Centre.

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News Network
May 2,2020

New Delhi, May 2: With 2,293 new cases in the last 24 hours, the highest number of cases in a single day, India's COVID-19 tally reached 37,336 on Saturday, including 1,218 deaths, according to the Ministry of Health and Family Welfare.
As many as 71 deaths were reported in the last 24 hours.

Out of the total number, 9,951 people have been cured/discharged/migrated.

In the state of Maharashtra, the number of coronavirus positive cases has crossed the 10,000-mark with at least 485 deaths.

The positive cases in Maharashtra has reached 11,506, including 1,879 discharged cases.

After Maharashtra, Gujarat has the most number of COVID-19 cases (4,721). The state has reported 236 deaths, while 735 people have been discharged.

The Centre on Friday extended the ongoing nationwide lockdown for two more weeks with effect from May 4 till May 17 while allowing different sets of relaxations in red, orange and green zones.

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