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Amid Cash Crunch Pan-India, Small Vendors Unzip e-Wallets in Odisha to keep their Businesses going

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Bhubaneswar, Nov 20, 2016: At a time when the whole nation is facing cash crunch following the demonetisation of high denomination currency notes, the small vendors in the capital city of Odisha have adopted the smart ways of payment.

They are accepting payment through mobile and online payment services to ease the problems of common people and keep their businesses going.

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Take the case of Raju, who runs a tea shop in the Unit-II area of the capital city. He is not bothered by the demonetisation as he has set up a private ‘e-wallet’ on the popular payment platform Paytm.

“I was worried after the central government announced demonetisation of Rs 500 and Rs 1,000 notes that led to cash crunch of small notes. Then, I installed a Paytm mobile app on my phone and asked my customers to pay through my mobile wallet,” said Raju.

The street vendors and grocery shops are also accepting money from the customers through e-wallets.

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“Even though the business has suffered following the demonetisation, we are receiving money through e-wallets. It has been a great help to us at the time of cash crunch,” said Tapas Panda, a shop owner in Niladri Vihar area of Bhubaneswar.

Taking advantage of the cash crunch, the mobile wallet companies are visiting the shops and persuading them to install their apps for better money transactions.

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Meanwhile, the city people are facing a new problem. With ATMs and banks now giving away new Rs 2,000 notes, people are witnessing a clamour for change as the banks are dispensing limited number of fresh Rs 500 notes.

“I purchased grocery items of Rs 450 from a shopkeeper and handed him a Rs 2,000 note. But he refused to give back the balance change, saying he has limited Rs 100 notes. He insisted that I spend over Rs 800 to get smaller denomination notes,” said Ranjan Sahu, a resident. (IANS)

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Here’s How to Boost up Businesses in Times of Evolving Tech

The lab will develop science-backed hiring apps and tools that can measure diverse traits and abilities

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Team, Scrum Methodology
The performance-conducive transparency and actual visibility of the team ensure great team performances. Pixabay

Focusing on the science behind what makes some start-ups thrive and others fail, Australian researchers have unveiled a new lab that will use cutting edge neuroscience to advise how businesses can thrive in a world of constant technological change.

The “Future Minds Lab”, launched at the University of New South Wales (UNSW) Sydney this week, will include a team of 20 scientists, designers and psychologists to study the fundamental brain science and psychology behind innovation.

The team will work with industry partners to produce products and services to improve the way institutions and businesses approach different forms of innovation.

“Using fundamental research and development, our team is creating products and programmes to ensure workplaces and businesses are more resilient and better equipped to adapt to constant technological change,” Joel Pearson, Professor at the varsity, said in a statement.

“By using cutting edge neuroscience, we can discover what makes successful founders, teams and companies,” Pearson explained.

Business
Think about what you want to get from your employees. Pixabay

The lab, a 300-square metre custom built centre with virtual reality rooms, testing stations, brain stimulation devices, neuroimaging tech and research offices, will be used to develop products such as customised cognitive tests for start-ups and psychological interventions and online education programmes.

“Using technology such as gamified objective tests and mobile brain measurement, we will be able to develop tests that measure traits and abilities like creativity, resilience…” the Professor said.

Also Read- Tech Giant Apple Hits Back at Spotify For Antitrust Complaint: Report

The lab will develop science-backed hiring apps and tools that can measure diverse traits and abilities. These tools will leverage the latest Machine Learning (ML) algorithms to assess job candidates’ fit for specific roles and organisations.

“Workshops will be delivered to start-up founders that aim to increase their resilience and stress management techniques, decrease burnout, and help founders enhance their mental fitness,” Pearson noted. (IANS)