WhatsApp sets up system to store payments-related data locally

Agencies
October 9, 2018

New Delhi, Oct 9: Messaging platform WhatsApp Tuesday said it has set up a system in India that stores payments-related data locally in the country to comply with RBI regulations.

The Reserve Bank of India (RBI), in a circular dated April 6, had said all system providers shall ensure that the entire data relating to payment systems operated by them are stored in a system only in India.

It had given time till October 15 to comply with the mandate.

"In India, almost one million people are testing WhatsApp payments to send money to each other in a simple and secure way. In response to India's payments data circular, we've built a system that stores payments-related data locally in India," a WhatsApp spokesperson said.

The spokesperson added that the company hopes to expand the feature across India soon, so that it can "contribute to the country's financial inclusion goals".

RBI, in its April order, had said it is important to have "unfettered supervisory access to data stored with these system providers as also with their service providers/intermediaries/third party vendors and other entities in the payment ecosystem" to ensure better monitoring of payment service operators.

RBI further said data should include the full end-to-end transaction details, information collected/carried/ processed as part of the message/payment instruction.

Comments

Sandesh
 - 
Tuesday, 9 Oct 2018

Whatsapp not at all safe. It may be another trick from centre. During demonetisation, Paytm made huge benefit with feku

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News Network
June 26,2020

Udupi, June 26: BJP leader K Raghavendra Kini has been appointed as the new Chairman of Udupi Urban Development Authority (UUDA) by Government of Karnataka.

A well-known businessman, Raghavendra Kini is also serving as the president of Kunjibettu Consumers’ Multipurpose Co-operative Union.

Along with him, the State Government has appointed Suma Naika, Praveen Kumar Shetty and Kishor Kumar as members of the Authority.

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How to apply t…
 - 
Friday, 24 Jul 2020

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News Network
May 26,2020

Bengaluru, May 26: The state government today hinted that places of religious worship belonging to Hindus will be allowed to reopen from June 1, keeping social distancing and other norms in place.

In principle, the government has decided to open temples coming under the Muzrai department after Lockdown 4.0 ends on May 31. The decision was taken at a meeting chaired by Chief Minister BS Yediyurappa.

“Movement of people on air and rail has started. We have been receiving repeated pleas from devotees that temples should be opened. When this was discussed with the CM during a review of the Muzrai department, it was decided that temples can start from June 1,” Muzrai Minister Kota Srinivas Poojary told reporters. 

Poojary said all day-to-day activities will be allowed in temples. “But religious fairs and ceremonies will not be permitted,” he said. 

Mosques and churches

Asked whether his government will allow opening of mosques and churches too from June 1, he replied that they don't come under his Muzrai dept.

Howvever, government sources said this may apply to mosques, churches and other places of religious worship as well. However, this decision will be subject to whether or not the Centre will allow places of religious worship to be open for the public after Lockdown 4.0, an official said. 

All places of religious worship have been closed for the public ever since Karnataka enforced a state-wide lockdown on March 24 to contain COVID-19. 

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News Network
February 5,2020

Bengaluru, Feb 5: Despite installing a BJP government in Karnataka through disguised operation Kamala, the Prime Minister Narendra Modi-led union government has continued its step motherly attitude towards this south Indian state.

Under the new formula adopted to share central taxes among states Karnataka will be the worst-affected. Though the 15th Finance Commission has recommended a special grant of Rs 5,495 crore for the state for 2020-21, the Centre appears reluctant to pay up and instead has asked for the proposal to be reviewed.

During the Union budget, the report of the 14th Finance Commission headed by NK Singh for 2020-21 was tabled in Lok Sabha. It shows besides Karnataka, Telangana, Mizoram and Kerala saw their central tax share decrease, while Uttar Pradesh, Bihar and Maharashtra were top gainers.

Karnataka's share has decreased from 4.7% provided by the previous finance commission, to 3.6%. Acknowledging there is a steep decline in Karnataka's share from 2019-20, the finance commission has recommended a special grant of Rs 5,495 crore for the state.

Its share in 2019-20 was Rs 36,675 crore, but under the new formula, Karnataka will get only Rs 31,180 crore in 2020-21 from the divisible pool of Rs 8.5 lakh crore - a decline of 22.5%.

Also, the decrease for Karnataka comes on the back of a shortfall in 2019-20. While the state was entitled to Rs 39,806 crore from the divisible pool, it got only Rs 36,675 crore as the Centre suffered a tax revenue shortfall of Rs 1.5 lakh crore.

What is more disheartening though is the Centre's refusal to pay the special grant. Instead, the Union finance ministry has asked the finance commission to reconsider the recommendation. This has prompted the state to take up the issue with the Centre.

"The decline in central taxes devolution comes at a time when the state is going through a tough financial situation. Steps are being taken to ensure Karnataka gets justice," said chief secretary TM Vijay Bhaskar.

Officials said besides corrective measures for 2020-21, the focus will be on ensuring a fair share in subsequent years. However, Karnataka has little chance of getting its dues as the Centre is known to be prudent when distributing tax proceeds among states.

"The Centre has certain views on devolution. We have done our duty by submitting the interim report. It's up to the states to convince the Centre," said Ravi Kota, joint secretary of 15th Finance Commission.

Under the new formula, the commission changed the weightage for some of the six criteria it considers - population, area, forest cover, income distance, demographic performance and tax effort.

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