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
July 10,2020

Bengaluru, Jul 10: Former Karnataka Chief Minister and Congress leader Siddaramaiah on Thursday condemned the decision of the HRD Ministry to drop chapters on citizenship, secularism and federalism from Class 11 political science syllabus, stating that this will "deprive a generation of students from understanding the important pillars of Indian democracy".

"I strongly condemn the decision of @HRDMinistry to drop chapters on citizenship, secularism and federalism. This will deprive a generation of students from understanding the important pillars of Indian democracy. #Stop Saffronisation Of Education," Siddaramaiah tweeted.

The Congress leader further alleged that BJP does not believe in the principles of citizenship, secularism and federalism.

"Chapters on citizenship, secularism and federalism are dropped from Class 11 Pol Science. syllabus. Does this explain something? Yes, it explains that @BJP4India doesn't believe in these principles and validates its past behaviour," he said in another tweet.

Earlier in the day, Union Human Resource Development (HRD) Minister Ramesh Pokhriyal Nishank rejected criticism over alleged conspiracy in CBSE's decision to reduce the syllabus of schools due to COVID-19 outbreak and urged the critics to "leave politics out of education".

"There has been a lot of uninformed commentary on the exclusion of some topics from #CBSESyllabus. The problem with these comments is that they resort to sensationalism by connecting topics selectively to portray a false narrative," the Union Minister tweeted.

"It is our humble request:#Education is our sacred duty towards our children. Let us leave politics out of education and make our politics more educated," he added.

The CBSE has revised the syllabus for the classes IX to XII during the academic session 2020-21 in the wake of the situation created by COVID-19.

In a circular issued to all the heads of the institutions affiliated to it, the CBSE had said that the revision of syllabi has been done due to the extraordinary situation prevailing in the country and different parts of the world.

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News Network
January 10,2020

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

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coastaldigest.com news network
June 30,2020

Udupi, Jun 30: The novel coronavirus has claimed another life in the coastal district. The throat swabs of a 48-year-old man who breathed his last two days ago tested positive today. 

With this, the covid-19 death toll in the district rose to 3.

The man, who was a native of Kalthodu in Byndoor, had returned from Mumbai on June 2. He breathed his last on June 28 at his residence. 

The deceased’s swabs were collected on the same day. The report came today. He was reportedly suffering from some illnesses.

The funeral of the deceased was held as per protocol. The swab samples of primary contacts of the deceased were also taken.

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