Demonetisation: Paytm wallet will merge with coming payments bank

December 5, 2016

New Delhi, Dec 5: The Alibaba-backed digital payments and commerce platform Paytm is transferring its wallet business into the newly created entity for its planned payments bank. This is a mandatory step being followed by the company to fulfil the rules laid out by the Reserve Bank of India. Paytm , which is run by One 97 Communications, has two key businesses--payments business and commerce marketplace. The Paytm founder Vijay Shekhar Sharma, so far, has got an in-principal approval from the country's central bank for launching a payments bank which is under the name of Sharma. For the commerce business, the company has created another entity--Paytm E-commerce Private Limited.

paytmPaytm spokesperson confirmed the development. "As per the directions of the Reserve Bank of India (RBI), the company would transfer its wallet business to the newly incorporated Paytm Payments Bank Limited (PPBL) after receipt of necessary approvals.The transfer will be complete once payment bank licence is obtained," the spokesperson said in an emailed response. The company said the transfer of its wallet business into the payments bank entity is being done with the consent of all shareholders and the board. "The structure was a part of our payment bank application itself when we applied for it in 2014," the statement said.

As per the RBI guidelines, Sharma will have to hold a majority stake of 51%, in the payments bank entity. He has put Rs 112 crore as of now in the entity. Chinese e-commerce giant Alibaba is the largest shareholder in Paytm's holding company One97 Communications with about 40% stake in the parent company.

To be sure, Paytm's payment bank launch has been getting delayed since middle of this year with the company announcing a beta version of payments bank by Diwali this year. "We are working with Fidelity, Infosys and Oracle to deploy a scale-able platform that will be able to meet with the requirements of the bank when it launches. There are no timelines.," the spokesperson said. Telecom major Airtel has already launched their payments bank in Rajasthan. The Noida-based company is also in middle of fresh fund raise to the tune of $250-300 million out of which $60 million has already come into the company's account from Taiwan's Mediatek.

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Agencies
January 7,2020

Washington, Jan 7: Facebook will ban deepfake videos ahead of the US elections but the new policy will still allow heavily edited clips so long as they are parody or satire, the social media giant said Tuesday.

Deepfake videos are hyper-realistic doctored clips made using artificial intelligence or programs that have been designed to accurately fake real human movements.

In a blog published following a Washington Post report, Facebook said it would begin removing clips that were edited--beyond for clarity and quality--in ways that "aren't apparent to an average person" and could mislead people.

Clips would be removed if they were "the product of artificial intelligence or machine learning that merges, replaces or superimposes content onto a video, making it appear to be authentic," the statement from Facebook vice-president Monika Bickert said.

However, the statement added: "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words."

US media noted the new guidelines would not cover videos such as the 2019 viral clip -- which was not a deepfake -- of House Speaker Nancy Pelosi that appeared to show her slurring her words.

Facebook also gave no indication on the number of people assigned to identify and take down the offending videos, but said videos failing to meet its usual guidelines would be removed, and those flagged clips would be reviewed by teams of third-party fact-checkers -- among them AFP.

The news agency has been paid by the social media giant to fact-check posts across 30 countries and 10 languages as part of a program starting in December 2016, and including more than 60 organisations.

Content labeled "false" is not always removed from newsfeeds but is downgraded so fewer people see it -- alongside a warning explaining why the post is misleading.

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Agencies
June 13,2020

The Brazilian government said that the Amazon rainforest witnessed deforestation of a record 829 sq km in May, the highest monthly level since 2015.

On Friday, the National Institute for Space Research (INPE) said that deforestation in the Amazon increased by 91 sq km compared to the same period last year, reports Xinhua news agency.

Between January and April, destruction of the forest by illegal loggers and ranchers rose 55 per cent, or a total of 1,202 sq km was wiped out, it said.

The Real-time Deforestation Detection system, a federal project created to monitor human activity in the Amazon, alerted authorities to the increase in the rate of destruction of the rainforest.

A recent study by the Amazon Environmental Research Institute (IPAM) warned that deforestation in 2020 could reach 11,900 sq km if the pace of May, June, and July follows the historical average.

Deforestation in the region has soared since President Jair Bolsonaro took office last year, according to conservation groups.

He has argued that more farming and mining in protected areas of the forest were the only way to lift the region out of poverty.

Bolsonaro's environmental policies have been widely condemned but he has rejected the criticism, saying Brazil remains an example for conservation.

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Agencies
February 25,2020

Tokyo, Feb 25: Japan's Chitetsu Watanabe, recognized at 112 years as the oldest man in the world, has passed away 11 days after he received the Guinness World Record certificate, his family said on Tuesday.

Watanabe died on Sunday night, Efe news reported.

He received the official certificate on February 12 at a nursing home in Joetsu in Niigata prefecture, where he resided.

Soon after being certified as the oldest man, he began to experience a lack of appetite and respiratory problems, the wife of his eldest son told public broadcaster NHK.

Born on March 5, 1907 in a family of farmers, Watanabe moved at the age of 20 to Taiwan, where he worked at a sugar refinery for 18 years before returning to Japan after the end of World War II.

A fan of calligraphy, custard and ice cream, Watanabe told the Guinness team that the key to his long life was laughter.

He was recognized as the oldest male in the world following the deaths in 2019 of German Gustav Gerneth (in October), aged 114 years, and Japan's Masazo Nonaka (in January), at the age of 113, three months older than the German.

It remains to be seen who will be recognized after the death of Watanabe, the only male on the list drawn up by the Gerontology Research Group of the 30 oldest people in the world.

Japan has among the highest life expectancy in the world and the number of centenarians in the country has crossed 71,000, according to the latest government figures.

Since 2000, the number of centenarians censored has quintupled, raising concern for the economic outlook and future workforce of the country - where the birthrate is on a downward trend.

Out of these, 88 per cent are women.

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