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Airtel Payments Bank Rolls out a Pilot of its Banking Services in Rajasthan, will offer Interest Rate of 7.25 Percent per annum on Deposits in Savings Accounts

Anyone (non-Airtel customers also) with an Aadhaar card can open a Savings Account

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Airtel promo, Source: Airtel.com

New Delhi/Jaipur, November 23, 2016: Aimed at testing systems and processes ahead of a full-scale pan-India launch, Airtel Payments Bank has rolled out a pilot of its banking services in Rajasthan, a company statement said here on Wednesday.

Airtel Payments Bank is a subsidiary of Bharti Airtel. The bank will offer interest rate of 7.25 per cent per annum on deposits in savings accounts.

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The company said customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic banking services.

“With this, Airtel Bank becomes the first payments bank in the country to go live. Airtel Bank will commence the pilot with banking points at 10,000 Airtel retail outlets (in Rajasthan),” the statement added.

Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail… Click To Tweet

At a time when the country is grappling with the demonetisation drive, the company said a wide network of merchants (sellers/shops) across Rajasthan will accept digital payments from Airtel Payments Bank from day one. It will offer customers the convenience of cashless purchase of goods and services through their mobile phones in a quick and secure manner.

“Airtel Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem,” the statement added.

On April 11, 2016, Airtel Payments Bank (which began operations in 2011 as Airtel M-Commerce Services) received a payments bank licence from the Reserve Bank of India. Kotak Mahindra Bank has acquired 19.90 percent stake in Airtel Payments Bank for around Rs 98.8 crore in February 2016.

“Airtel Payments Bank will play an important role in taking banking services to the last mile in a quick and efficient manner and benefit millions of unbanked citizens of this country. With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India,” said Shashi Arora, MD & CEO, Airtel Payments Bank.

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The payment banks will cater to the needs of small savings accounts, remittance services, low income households, small businesses and other unorganised sector entities.

“This initiative, perfectly in sync with Prime Minister’s vision for financial inclusion and Digital India, will be a boon to residents in far flung areas who are yet to have access to formal banking. I look forward to Airtel reaching every corner of Rajasthan,” said Rajasthan Chief Minister Vasundhara Raje.

Airtel Payments’ Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app.

Highlights about the bank:

** Anyone (non-Airtel customers also) with an Aadhaar card can open a Savings Account

** Customer’s Airtel mobile number will be his/her bank account number

** Personal Accidental Insurance of Rs 1 lakh with every Savings Account

** Customer can open an account by visiting a designated Airtel retail outlet in his/her neighbourhood

** Airtel Bank does not offer ATM/Debit Card facility, at present. Customers can deposit withdraw cash at any of the designated Airtel retail outlets

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** Airtel Bank is a paperless bank. Customers can check their account balance, access other services using Airtel Money app, Unstructured Supplementary Service Data (USSD) or Interactive voice response over their mobile phones

** Customers can access money transfer services using the Airtel Money app or through USSD by dialing *400#. Money transfers from one Airtel number to another Airtel number within the bank will be free. (IANS)

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Crimes Against Women Perpetrate in Every two Minutes: NCRB Analysis

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Crimes against women in India
Father, left and mother, center of the Indian student victim who was fatally gang raped on this day three years back on a moving bus in the Indian capital join others at a candle lit vigil in New Delhi, India, Wednesday, Dec. 16, 2015. VOA
  • Any kind of physical or mental harm towards women is deemed as  “crime against women”
  • Domestic violence is the most dominant crime against women
  • Andhra Pradesh state is the highest to report crimes against women in the period of ten years

Sep 20, 2017: A report released by the National Crime Records Bureau (NCRB) suggests that crimes against women have increased violently in the last ten years with an estimated figure of  2.24 million crimes. The figure is also suggestive of the fact: 26 crimes against women are reported every hour, or one complaint every two minutes, reports IndiaSpend analysis.

The most dominant crime against women with 909,713 cases reported in last decade was ‘cruelty by husbands and relatives’ under section 498‐A of Indian Penal Code (IPC).

‘Assault on women’ booked under section 354 of IPC is the second-most-reported crime against women with 470,556 crimes.

‘Kidnapping and abduction of women’ are the third-most-reported crime with 315,074 crimes, followed by ‘rape’ (243,051), ‘insult to modesty of women’ (104,151) and ‘dowry death’ (80,833).

The NCRB report also listed three heads, namely commit rape (4,234), abetment of suicide of women (3,734) and protection of women from domestic violence (426) under which cases of crime against women have been reported in 2014.

Andhra Pradesh has reported the most crimes against women (263,839) over the past 10 years.

Andhra Pradesh state is the highest (263,839) to report crimes against women in the period of ten years. Crimes reported for insult (35,733) ranks first followed by cruelty by husband relatives (117,458), assault on women with intent to outrage her modesty (51,376) and dowry-related deaths (5,364).

West Bengal (239,760) is second most crime against women state followed by Uttar Pradesh (236,456), Rajasthan (188,928) and Madhya Pradesh (175,593).

Abduction increased up to three folds over the recent years,  with Uttar Pradesh being the worst affected state. Cases rose from 15,750 cases in 2005 to 57,311 cases in 2014.

Prepared by Naina Mishra of Newsgram. Twitter @Nainamishr94


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New Rs 200 notes: It may take ATMs three months to dispense Rs 200

Will all the 2.25 lakh ATM machines across India would be recalibrated?

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Wait for 3 more months as ATM recalibration is not yet done
Wait for 3 more months as ATM recalibration is not yet done. Wikimeida
  • Reserve Bank of India (RBI) did issue a statement saying that the supply of the new Rs 200 notes would soon be ramped up
  • The entire process of recalibration can be completed within 90 days without affecting the regular functionality of ATMs to a large extent
  • The ATM companies said that they were expecting to receive official communication on recalibration of ATMs soon
New Delhi, September 4, 2017: While the RBI launched the new Rs 200 notes a week ago, it may take up to three months for ATMs to start dispensing the new denomination currency “new Rs 200 note” as it will involve a huge exercise of recalibration.

What are ATM companies saying about when will the new Rs 200 notes come into the market?

Some banks have even asked the ATM companies to begin testing the new Rs 200 notes for recalibration of the machines, though they have not got supplies of the new Rs 200 notes/ currency. Only last year, the banks were involved in the recalibration of ATM machines after the demonetization of high-value currency notes in November.
ATM manufacturing companies said that they have not received any directive from the RBI regarding the recalibration of ATMs for the new Rs 200 note. They disclosed that some banks have at an informal level have asked them to start testing of the new note since it is of a different size.

 

When will the supply of the new Rs 200 notes see an increase?

Reserve Bank of India (RBI) did issue a statement saying that the supply of the new Rs 200 notes would soon be ramped up but has not given any time-frame by which it will be available in adequate numbers.

 It is yet to be seen whether all the 2.25 lakh ATM machines across India would be recalibrated for dispensing the new Rs 200 notes.

 

 avi B Goyal, Chairman, and Managing Director, AGS Transact Technologies Limited, which claims to have an installed base of 60,000 ATMs, told IANS, “The process of recalibration will begin once we receive the directive from the RBI. The size of the new Rs 200 notes are different from the existing ones and so, once we receive the new Rs 200 notes, we will have to understand its dimensions and accordingly reconfigure the ATM cassettes. Next, we will have to check if the supply of new Rs 200 notes is good enough to run the cassettes at full capacity.”

 “The entire process of recalibration can be completed within 90 days without affecting the regular functionality of ATMs to a large extent. In fact, the ATMs will continue to be fully operational during recalibration and will continue to supply Rs 100, Rs 500 and Rs 2,000 denominations,” he said.

 

Among the other companies operating in the sector are NCR Corporation, which has over 1,08,000 machines, and BTI Payments, which has 4,500 cash dispensers. NCR Corporation said that while some banks have reached out to them to start testing of the new Rs 200 notes, they were yet to receive the supply to begin the process.

 “Banks have started getting in touch with us for testing the same “new Rs 200 notes”. They will let us know which machines they wish to configure for new rs 200 notes, which will require physical visits to ATMs. However, the new Rs 200 notes are still to be provided to us by the respective banks so that the testing can begin,” Anand Garollu, General Manager (Services), NCR Corporation said.

K. Srinivas, Managing Director, and CEO of BTI Payments, a RBI-licensed firm that operates cash dispensers not owned and managed by banks, said, “Recalibration will begin as and when we receive adequate quantity of new Rs 200 notes. We are looking to roll this out as quickly as possible.”

 He said that the industry was expecting new Rs 200 notes to be available over a period of time across various geographies.

 “The recalibration can be done progressively as and when the new denomination note starts to become available. Unlike the last time around (during demonetization), when we had to recalibrate all machines in one go,” Srinivas added.

 The ATM companies said that they were expecting to receive official communication on recalibration of ATMs soon. However, emails to RBI in this regard did not elicit any reply, they said.

 “The production of these “new Rs 200 notes” is being ramped up by the currency printing presses and over time, as more notes are printed, it will be distributed across the country through the banking channels and will be available for the public in adequate quantity,” the RBI had said in a statement.

 Currently, new Rs 200 notes are available only through select RBI offices and some banks.

While State Bank of India and Punjab National Bank are reported to have received the new Rs 200 notes, Eknath Baliga, Manager, KYC-Antimoney Laundering Cell, Corporation Bank, Mangalore, told IANS that none of its branches across the country had received the new Rs 200 notes so far.

The new Rs 200 notes are currently being printed only by RBI presses. Security Printing and Minting Corporation of India (SPMCIL) sources told IANS that the company has not received any indent so far for the printing of new Rs 200 notes. India’s two currency presses are owned by RBI and two by SPMCIL, which is a government-owned company.

 How ATM recalibration happens:

Usually, an ATM holds four cassettes — three of which can continue to be used for Rs 100, Rs 500, Rs 2,000, and the fourth cassette can be used for the new Rs 200 notes. On an average, each cassette has a capacity to hold 2,000-2,500 notes depending upon the quality of cash issued by banks. However, there are many ATMs that only have either two or three cassettes.

The number of slots in the ATM can be configured as per the bank’s preference. The banks decide which denomination needs to be configured in a machine on the basis of the customer profile in the area where the ATM is located and the number of transactions on that machine.

The banks need to make requisite changes at their ATM switch before the rollout of the physical recalibration at the ATMs in the field.

The recalibration of a new denomination takes 30-45 minutes per ATM. The process of recalibration is not very difficult but is time-consuming given an engineer has to visit every ATM and configure it to dispense the requisite denomination.

The introduction of the Rs 200 note has been welcomed as it would ease the currency circulation in the market as people prefer lower denomination cash withdrawals from ATMs. Rs 200 would also be more convenient for rural consumers. (IANS)

 

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Hello Foodies ! You Can Spot These 8 Street Foods at Every Nook and Corner in India

Here is a list of delicious street food items, now available everywhere in India

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Delicious Street Food
Delicious Street Food in India. Wikimedia

Sep 02, 2017: Street foods in India is the new trend amongst foodies these days and are indeed delectable to savor. Previously, it was known that street food confined to a particular region. However, nowadays, a south Indian food can be found even in the north of the country and here is why you don’t need to go all the way to Assam to eat momos.

Many street food items have become quite popular throughout. Let’s have a look at these street food items.

Here is a list of delicious street food items, now available everywhere:

Vada Pao

Street Foods
Vada Pao in Delhi. Wikimedia

Vada Pao is the Indian style burger, quite famous in Maharastra. Fried potato dumplings are stuffed inside pao and are coupled with green chili and spicy chutney that add flavor to this Maharashtrian dish.

Chaat

Street Foods
Papri Chaat. Wikimedia

The sweet, tangy, and spicy taste of Aloo tikki, Gol Gappa, bhelpuri, Sevpuri, will tempt you. This is a mouth-watering street food from Uttar Pradesh. It adds extra taste to your buds when garnished with curd and chutney.

Momos

Street Foods
Cabbage Momos. Wikimedia

The white colored steamed snack of North East is getting popular amongst Indians these days. It makes an awesome combo when served with spicy red chutney and hot momos.

Also Read: “Regionality is What Sets Indian Food Apart” from the Cuisines Across the World, says MasterChef Australia Judge Gary Mehigan 

Poha Jalebi

Street Foods
Poha the staple breakfast of India, with Jalebi. Wikimedia

Sweet jalebis served with salty poha is a trademark street food of Madhya Pradesh. Now the combination is a hit amongst people of the country.

Idli Sambhar

Street Foods
Idli-Sambhar-Coconut chutney. Wikimedia

Idli Sambhar is the most popular street food of Tamil Nadu in India. It is a delicious combo of idli, sambhar and coconut chutney.

Chole Bhatura

Street Foods
Chole bhature. Wikimedia

Chole Bhature, a favorite dish of every Indian is chiefly a treat of Punjab.  It is served with green chilies, onions, and chutney.

Dhokla

Street Foods
Gujarati Dhokla (Khaman Dhokla). Wikimedia

The sweet-sour Dhoklas are a specialty of Gujarat state. It is a famous street food baked from the fermented batter of gram flour. This treat is also served with chutney and green chilies.

Pyaz ki Kachori

Street Foods
Rajasthani Pyaz ki Kachori. Wikimedia

Pyaz ki Kachori was originated in Jodhpur city of Rajasthan. The dish is now relished all over India. These crispy and flaky kachoris with onion masala, garnished with sweet tamarind chutney will throb your heart.


NewsGram is a Chicago-based non-profit media organization. We depend upon support from our readers to maintain our objective reporting. Show your support by Donating to NewsGram. Donations to NewsGram are tax-exempt.