Misa Bharti’s accountant Rajesh Agarwal arrested by ED in money laundering case

Misa Bharti's accountant Rajesh Agarwal arrested by ED in money laundering case
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Misa Bharti’s accountant Rajesh Agarwal arrested by ED in money laundering case

The execution direction (DE) stopped the public accountant Rajash Agarwal Ms. Bharti Ms. Lalu Prasad in a money laundering case and produce in a Delhi court today.
Last week, top BJP leader Sushil Kumar Modi had claimed that Bharti had laundered money through a tank company to buy a farm in the Bijwasan New Delhi region at playoff prices.
Bihar leader of the BJP had said that Misa Bharti turned his black money to white by a suspicious operation of purchase and sale of shares in his company, Mishail Packers and printers Pvt Ltd The company was founded with an investment of Rs 1 lakh in 2002 and registered The official bungalow Lalu Yadav 25, Tughlaq Road, New Delhi. It was closed in 2005-06.
Mody said that Bharti had sold the shares of his company’s nominal value of 10 rupees each in a Holdings of Viral Shalini Jain at Rs 100 per share in October 2008, which would have led to his Rs 1.20 crore. Eleven months later, he bought all the shares at the rate of Rs 10 Jain, according to Modi, showing documents to support his claim.
Later in 2008-2009, he bought a farm in the Bijwasan New Delhi region at Rs 1.41 million rupees with an estimated current value would be around Rs 50 million rupees, Modi added.
Stressing that Misa Bharti became the owner of Rs 50 million rupees simply invest Rs a lakh, Modi asked “Why would anyone buy shares of a private company at Rs 100 per share charged to the nominal face rate Rs 10 Each one – why should the buyer sell the same shares again at Rs 10 after buying it at Rs. 100? ”
Sushil Modi had also alleged that Bharti had abused the management of former officer of bungalows Lalu Yadav – 25, Tughlaq Road – because his business address as such provision can not be used for commercial purposes.
Modi also claimed that both son Lalu, Tejashwi Prime Minister Prasad Yadav and Health Minister, Tej Pratap Yadav, had amassed Benami properties worth more than a thousand Rs through several shell companies in Bihar.
LALU rubbishes RAID REPORTS
Lalu has already rejected reports from the department of income tax incursions at 22 sites in Delhi and adjacent areas.
“Tell me what incursions he has carried out,” he told reporters in Patna a few days after the raids were conducted on 16 May
Attacking the government led by Narendra Modi at the Center, the chief RJD predicted his “before falling at the end of the five-year period.”
“I am an astrologer and prediction is that the government of Narendra Modi will not complete its five-year term,” said the head of Bihar Minister of age.

Airtel, Vodafone, Idea caused Rs 400 crore loss to govt: Reliance Jio

Airtel, Vodafone, Idea caused Rs 400 crore loss to govt: Reliance Jio
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Airtel, Vodafone, Idea caused Rs 400 crore loss to govt: Reliance Jio

NEW DELHI: Reliance Jio has filed a complaint with the Ministry of Telecommunications claiming that it is up to Bharti Airtel, Vodafone and Idea have not submitted license fees required in March, resulting in a potential loss of Rs 400 million rupees for the government.
The company led by Mukesh Ambani claimed that Airtel, Vodafone India and Idea Cellular, in total violation of license rules “willingly and willingly pay the license fee in advance for the last quarter” from 2016-17 on the basis of The estimated gross adjusted income (AGR), which was much lower than “the condition of the license to pay the license fee at least the fees paid for the third quarter.”
According to the complaint, Airtel paid around Rs 950 crore as license fees from January-March 2017. The amount Jio claims, was Rs 150 crore less than Rs 1 crore 099.5 license fees paid by Airtel October to December 2017.
According to the rules, a telecommunications operator is required to pay license fees for the January-March period on the basis of expected revenues, but should not be less than the fees paid for the third quarter of the same year.
Similarly, Jio said, Vodafone paid Rs 550 crore, which was Rs 200 crore less compared to Rs 746.8 crore paid license fees in the third quarter. The idea has paid Rs 60 million rupees less expenses than Rs 609.4 rupees paid in the previous quarter, according to Reliance Jio.
“He said telecommunications service providers in place Law (TSP) caused potential financial losses of more than Rs 400 crore in government action and in any case resulted in a deficit of this amount in the year Fiscal 2016-17, “Jio claimed.
IBOC denied the allegation indicating that there would be no loss to the government since the AGR will be open to the state in the following quarter. “These accusations are both malicious and ironic, unfounded, if what we hear is the case of the media.” IBOC does not receive this kind of communication, “said the association’s CEO, Rajan S Mathews.
The Association of Cellular Operators of India (IBOC) asked the Department of Telecommunications (DoT) to allow associated companies to pay license fees for the fourth quarter based on the AGR estimates instead of the estimated AGR increase for the period And the actual license fees paid in the third quarter due to alleged financial conditions for telecom operators.
Jio said that the point “did not adhere correctly” at the request of the IBOC, but learned that the ministry is considering the IBOC application, “which is certainly a flagrant violation of the license conditions and any relief would amount to rewarding a crime partly “.

Tejashwi resignation row: Expect Congress to intervene, says JD(U)

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With the RJD, it is clear that Bihar Deputy CM Tejashwi Prasad Yadav will not resign for a corruption case filed against him, his alliance partner JD (T) is likely to have a call on the issue after the national party executive meeting In Delhi.

During his trip to Delhi, Bihar’s chief minister and leader of JD (T) Nitish Kumar is likely to meet Congress Speaker Sonia Gandhi. JD (T), as we have learned, hopes that Congress will satisfy RJD to soften its position.

National spokesman JD (T) C K Tyagi told The Indian Express: “We are preparing for the national leadership of the party meeting in New Delhi from July 22nd to 23rd.

As our agenda is already decided, the current political issues will also be taken into account. Nitish Kumar could also meet with AICC President Sonia Gandhi.

We hope that the Congress will intervene in Bihar, since it is our ally. ”

He said that the Great Alliance was better under the leadership and image of Nitish Kumar. “There must be a serious attempt by all the actors of the Great Alliance to find a solution to the dead end.

It is not a question of Nitishji compromising his moral authority, “Tyagi said, indicating a final call after the meeting if the RJD is not moving. So far, Congress has supported the RJD against CBI and ED incursions.

While the JD (T) has not expressly requested Tejashwi’s resignation, its leaders emphasized Nitish’s commitment to integrity and responsibility.

Addressing a meeting of party workers, Nitish said on the resignation of his government A B Vajpayee for moral reasons after the Gaisal accident in 1999.

He also recalled the resignations of BJP leader L K Advani and Sharad Yadav JD (T) in the hawala scam.

Meanwhile, the RJD has strengthened its position on the issue. The RJD MP, Virendra Kumar, said he would listen only to party leader Lalu Prasad. “We have 80 members and it is our leader Lalu Prasad.

What the JD (U) says or wants to convey is not important to us. We decided not to meet the demand for the Tejashwiji’s resignation. He was a victim of the BJP conspiracy. ”

Another high ranking RJD leader told The Indian Express that some of the party leaders are in favor of replacing Abdul Bari Siddiqui Tejashwi by either Lalu Yadav Tej Pratap son, but added, “n ‘there is not a single leader who has the Courage to say Lalu Prasad. “

‘Mind Boggling’ Reform That Will Reshape India’s $2 Trillion Economy

'Mind Boggling' Reform That Will Reshape India's $2 Trillion Economy
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‘Mind Boggling’ Reform That Will Reshape India’s $2 Trillion Economy

The government of Prime Minister Narendra Modi must radically revitalize the third Asian economy with the largest fiscal reform since independence in 1947.

After finding common ground among the 29 states of India, the Finance Ministry issued detailed tariffs for tax on incoming goods and services on Friday, representing more than 1,200 items – steel sugar and motorcycles – five tax installments Between zero and 28 percent. With this, India is almost ready to implement a tax code that unifies more than a dozen separate samples, creating a single market with a population in the United States, Europe, Brazil, Mexico and Japan together.

“This is a fiscal revolution in many ways, since the structure of indirect taxes in India was hopelessly chaotic,” said Raghbendra Jha, director of the economics department at the National University of Australia. “It’s incredible, the magnitude of the reform takes place.”

The general tax reform will gradually reform India’s commercial landscape, making increasingly important global growth economy an easier place to do business and is likely to increase government revenues by expanding the fiscal network in the economy Of the largely informal private sector of $ 2 trillion. This means that India could spend more on infrastructure and training programs needed for a workforce that increases by 1 million people per month, laying the foundations for long-term growth.

With tax experts praising at moderate and generally lower-than-expected rates, it seems likely that Modi can implement this reform without a politically damaging increase in inflation. However, some economists and analysts consider that a July 1 deadline as unrealistic, increasing the likelihood that less than 10 months after demonetization, India’s economy could still be invested as companies and as it will only strive to Comply with the new tax code.

Getting chaotic work

Business groups, fearing a chaotic application, have pressed the government to deploy on 1 September. They argue that companies – especially small and medium-sized enterprises that contribute to more than 30 percent of India’s GDP – need more time because they are struggling to meet the requirements imposed on the new system.

“To expect that rates will be posted on May 18, 19 and everyone can connect and run with it before July 1 is very distant,” said Dinesh Kanabar, CEO of Dhruva Asesores LLP, based in Mumbai and ex Deputy Director of KPMG in India.

However, forecasts of the lower rates mean that there can be little or very little and inflation lower than in other countries that have implemented GST, he added.

It was expected that government earnings rates compared to real rates, which could lead to huge inflation “said Kanabar. What we see today is very different. The rates are moderate and, in most cases, the rates are higher or lower. ”

The tax reform, however, is far from perfect, as it would have had a single rate, Jha said. Instead, there are four different rates and multiple exceptions. Air conditioners, refrigerators and makeup will be taxed at 28 percent, for example, while toothpaste landed at 18 percent and fruit juice 12 percent.
Airline tickets attract a GST rate of 5 percent, but business class tickets will be taxed at 12 percent, said Finance Secretary Hasmukh Adia. Basic foods such as cereals, fresh vegetables and milk are not taxed, while Finance Minister Arun Jaitley said education and health services remain exempt.

Politics of Gagné

For Modi and his Bharatiya Janata Party, GST detailed index of the publication is a great political victory. This is the culmination of months of political discussions of relative calm with the state governments that try to shape their new fiscal code in their favor.

“The process of accepting the GST rate for individual articles has been made very gentle by the fact that the overall GST negotiations for India was a tortuous political process between national and state legislative assemblies that had a decade” Said Rajiv Biswas, chief economist for Asia and Pacific IHS Markit.

Tejas Express With on Board Wi-Fi, Infotainment System Set to Flag Off

Tejas Express With on Board Wi-Fi, Infotainment System Set to Flag Off
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Tejas Express With on Board Wi-Fi, Infotainment System Set to Flag Off

 

Texas Express, slated to begin Monday afternoon, will come with many modern technologies on board, such as Wi-Fi, information and entertainment system, LED TV, CCTV, etc. At a top speed of 200 km / h, the new Tejas Express is faster than Shatabdi Express, it has fire and graffiti detection facilities, smoke detection. The doors of the 13 coaches, including executive coach, are centralized.

“Tomorrow will be a historic day for Indian Railways when Texas Express, which has modern equipment such as information and entertainment detectors on board, wireless, CCTV, fire and smoke, tea distributor / coffee, etc. Its first race Of Mumbai, “said DK Sharma, general manager of the central train. Sharma, who inspected the train at Chhatrapati Shivaji Terminus, Bombay (CSTM) compared to Texas Express “airplane that moves on the ground.”

“I would say traveling through this premium now offer a better experience of flying in a plane. This train would pass through the lush vegetation of the Konkan ribbon, giving a panoramic view of the sea, mountains and valleys, which You will enjoy the trip and not just the destination (Goa), “he said.

When asked about reports that there were some badly damaged Texas Express windows, even before its release, the official said, “We have taken note of this and that is not a problem now.”

Texas route and schedule express
Giving details of the route and schedule of trains, Sharma said he would run between Mumbai and Karmali (Goa) five days a week during the non-monsoon period and three days a week during the monsoon s’ stopping at Dadar, Thane, Panvel, Ratnagiri and Kudal stations.

“Train No. 22119 Texas Superfast Express will leave at 5 am CST Tuesday, Wednesday, Friday, Saturday and Sunday May 24 and arrive in Karmali at 1:30 pm on the same day.

Train No. 22120 Texas Express Superfast will leave Karmali at 14:30 on Tuesday, Wednesday, Friday, Saturday and Sunday, May 23 and will arrive at the CCT at 9:00 pm, “he said.
This train will have an AC steering chair with a capacity of 56 seats and 12 chairs AC seats with a capacity for 78 people in each car, Sharma said.

Reservations for Texas express tickets
CR Chief Commercial Officer Shailendra Kumar welcomed the “positive response” by passengers when booking early train tickets.

Kumar, who accompanied Sharma during the train inspection, added: “Ticket bookings started a few minutes to open this morning in the first four hours, 207 passengers have booked tickets for the remote control and a car seat 10 The executive. ”

Comparing the details of the tariffs, Kumar said that the rate in business class Texas Express has been set at Rs. 2680 with food and Rs. 2525 without food, and for chair AC chairs, the price was set at Rs 1280 with food and Rs. 1155 without food.

Kumar also reported that railroads had planned optional catering services on board.

“If a passenger does not allow food services at the time of booking the ticket and decided to purchase meals on board, an additional amount of Rs.50 per service, in addition to the prescribed restoration fee will be charged under virtue subject To availability, “he added.

RBI outlines broad plans on $150 billion bank bad loan resolution

RBI outlines broad plans on $150 billion bank bad loan resolution
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RBI outlines broad plans on $150 billion bank bad loan resolution

Mumbai: The Reserve Bank of India (RBI) on Monday outlined the outline of a plan to solve the problem of $ 150 billion of bad debt that plagues banks.

The move comes two weeks after the Indian government changed the rules, giving the central bank more power to deal with deteriorating loans.

Among plans announced Monday night, the RBI said it revised and revised the current guidelines for the restructuring of stressed loans. He is also working on a framework to help “facilitate objective and coherent decision making” for cases that may be subject to insolvency courts.

In order to prevent borrowers from seeking credit ratings, the RBI said that it “explored the possibility that the assessment scores are determined by the Reserve Bank itself and paid for by a fund created from the banks And the Reserve Bank “.

The RBI did not explain how the new system would work, but some have tentatively welcomed the move as a positive step.

“So far we have ignored a company if its rating was made by a rating agency considers less. But now, the RBI’s criteria in the assignment of ratings should help us to better clarify how we evaluate the odds,” said a major treasury Of a private sector bank.

The slowdown in economic growth and, in some cases, impaired lending practices were attributed to deteriorated loans higher, more than 20 majority-owned government banks that have the most poor resources.

The resolution of the problem loans problem is the centerpiece of the economic policy of the government of Prime Minister Narendra Modi and has issued an executive mandate earlier this month to change the rules of the country’s banking regulatory law.

In the expected increase in bankruptcy under the Bankruptcy and Insolvency Code, the RBI said it had already requested information from banks on the current state of their large stressed assets. The regulator said he plans to form a separate panel, which consists mainly of independent members, to advise on this.

The central bank said in the near future will also meet with stakeholders, including banks, asset reconstruction companies, rating agencies, and private equity firms, among others, for their cooperation and coordination.

In addition, the RBI said it would expand a follow-up committee to guide banks in restructuring the deteriorating loans.

In addition to the new members, the scope of the panel will be expanded to go beyond the limited mandate of the cases currently handled, the regulator said.

Tata Sons hires Saurabh Agrawal as group CFO

Tata Sons hires Saurabh Agrawal as group CFO
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Tata Sons hires Saurabh Agrawal as group CFO

Tata Group President N Chandrasekaran said on Monday a key recruitment holding company Tata Sons veteran banker Saurabh Agrawal as CFO.

Agrawal, who will be joining in July, is currently the director of strategy with Aditya Birla Group. As CFO Group to Tata Sons, which will focus on the recovery of certain companies with losses on the track. Agrawal played a key role in managing the merger operation Idea-Vodafone, and merger-Grasim Aditya Birla Nuvo for the Birla entity. This will be the second major appointment of Chandrasekaran, following that of Ankur Verma, former managing director of investment banking for Bank of America Merrill Lynch, who joined the Tata Group in March.

Prior to Birla’s work, Agrawal led Standard Chartered Bank corporate finance in India and South Asia. He also served as director of investment banking for DSP Merrill Lynch, where he worked with Chandrasekaran on Tata’s Initial Public Offering in 2004, along with other acquisitions.
“Agrawal brings extensive knowledge of the capital markets and experience in different sectors of this critical leadership role in the Tata Group.His experience will help us to manage rigor and synergy in capital allocation decisions, investment management , As well as the consolidation and optimization of the group’s business portfolio, “said Chandrasekaran.

“I am honored to be part of the Tata Group. This is an exciting time for the group under the leadership of Chandrasekaran,” said Agrawal, IIT Roorkee graduate, graduated from IIM Calcutta.

One of the complaints was that Tata Group patriarch Ratan Tata against former Tata Sons chairman Cyrus Mistry was that he had not appointed the group’s chief financial officer after the release of Ishaat Hussain as Tata Sons CFO in 2012.

The financial director of the group is important and is considered a second link between Tata Sons and its subsidiaries, after the president. Hussain, for example, joined the Tata Sons board as chief executive in July 1999 and also was director of several companies, including Tata Tata Industries, Tata Steel and Voltas. He was also the President of Voltas and Tata Sky.

Group initiates said Agrawal quit because at least three entities – Tata Teleservices, the Mundra project to Tata Power and operations in the UK – Tata Steel need immediate attention.

In addition to making entities that are not profitable and allocate capital through the companies, Chandra and the group’s chief financial officer will also ensure that Tata Sons gives enough dividends to Tata Trust, which holds a 66% stake in ‘ business. One of the reasons given by Tata for the removal of Mistry was that he was not able to do so.

Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%

Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%
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Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%

The Sensex fell nearly 200 points and then moved Nifty 9400 due to weak pharmaceutical capital, consumer goods, banking, real estate and energy. Pharmaceutical stocks were among the most affected by trade so far with top-tier pharma stocks like Sun Pharma, Cipla and Aurobindo Pharma, ranging from 3 to 5 percent each. Analysts say the Nifty is likely to trade in the range of 9400 to 9500 and on the rise and any leaks on either side of the ridge will determine the trend of the future index.

12:34: The width of the market is still very bearish, while 2122 stocks fall, while stocks of 409 advance on the BSE.
12:05: shares of gas company owned GAIL India, have fallen more than 6 percent to Rs 365.50 on Tuesday after reporting after Monday market hours, 69% of its profit. For the quarter from January to March due to the value of its investment in the Dabhol power plant. Gail India reported a gain of Rs. Rs 260 million for 4Q against Rs. 832 crore profit for the same period the previous year. Analysts surveyed by NDTV Profit had estimated that the net profit of Rs. 1,113 crore.

11:30: Real estate stocks reflect the selling pressure. The BSE index of real estate fell by 2.32 percent; HDIL was the top loser of this space, up to 5.47% Rs. 84.75. DLF, Unitech, Oberoi Realty, Indiabulls Real Estate, Phoenix Ltd and Sobha Ltd. were also among the losers, behind 1 to 3.65% each.

11:11: Videocon Industries was the top loser of small space cap 20 percent at Rs 64.80. Tanla Solutions Dhunseri Petrochem Limited, Indo Count Industries, Den Networks, Mirza International and Sharda Cropchem were also among the losers, front To 7.8 to 15% each.

10:50 Shares of Sun Pharma extend losses, fell 7 percent to reach a 52 week low of Rs 589 ..

10h30: the width of the market was extremely bearish, since 1969 shares declined, while only 269 advanced to the Bombay Stock Exchange.

10:16 am Sun Pharma shares fall 6 percent to reach a new 52-week high Rs. 601 after its US-based subsidiary, Taro Pharma has reported lower than expected earnings.

10:06: Sales pressure visible through the table excludes some IT stocks.

9:59 am: Adani companies was the top loser of the average space, 7% to Rs 112.60 .. Reliance Communications, Bank of India, Indian Bank, Adani Power, Havells India, GMR Infra, minimum required limit, Infra and Jindal Steel were also among the losers, down from 4.6 to 7% each.

09:45: GAIL India was one of the best Nifty losers, a 5.2 percent to Rs 369.85 after the company unveiled the market hours reported on Monday a 69% fall in net income in the fourth. Quarter after realizing the value of its investment in the Dabhol power plant.

Net income for the January-March quarter of the last fiscal year was Rs. Rs 260.16 million or Rs. 1.54 per share, compared to Rs. Rs 832.13 million or Rs. 4.92 per share, net profit for the same period last year.

9:41: The shares of the PSU banks extended their movement yesterday. The sub-index of the PSU PSSE NSE-Nifty bank index fell 1.73 percent; Bank of India was the best loser in this space 5% to Rs. 150. Oriental Bank of Commerce, Bank of Allahabad, Union Bank, Punjab National Bank, Andhra Bank, Baroda Bank and IDBI bank were among the laggards.

9:31 am: Broad markets posted a lower performance analysis. The indices of the mid-body and the small BSE lid fell by more than 1.5% each.

09:24: In the Nifty stock basket, 37 was reduced, while the advanced 14. Sun Pharma was the loser at the top Nifty, 5% at Rs. 607. GAIL India, Aurobindo Pharma, Cipla, Baroda Bank, Indiabulls Housing Finance, State Bank of India, Harbors Adani, Tata Power and Ambuja Cements were also among the losers, down 1.6 to 4.7 percent each.

09:20: Stock markets decline after a positive start. Sensex drops 56 points at 30515 and Nifty slides 24 9415.

Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster

Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster
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Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster

The new redmi 4 Xiaomi borrows greatly from last year’s redmi 3S (Prime) in almost all major departments, however, when first seen and carried out in the car, is a whole new ball game . This is refining the jagged edges of the original classic, a trait that only the best in the company could deepen.

Xiaomi already had a fantastic phone on redmi 3S (Prime), after all. Not surprisingly, it has sold more than 40 lakh phone units in India in just 9 months. There was so much he could add to his successor as to justify an update. Look.

Design and quality of construction
Redmi 4 closely resembles redmi. Note 4. Only smaller. Okay, the redmi 4 is for someone who prefers a smaller phone. An accuracy of 5 inches. Because it takes a lot to the aesthetic of the Redmi Design Note 4, the 4 Redmi invariably shares both its inevitable and disadvantages.
It is a spectator, the redmi 4. There is absolutely no way in this. As a Redmi 4 note, the Redmi 4 also comes with a matt black (and gold) that gives it a sleek look and feel challenging for its most affordable price. It looks like an expensive phone, which is not cheap.

The first redmi 3S comes with a full metal body: a first for any smartphone in and around its product category. With redmi 4 Xiaomi added a 2.5D curved glass with rounded edges and polished antenna lines, into the mix. Xiaomi has stuck with the correct formula “if it is not broken, do not fix it” here. Which is good because there was not much to complain about the Redmi 3S Primer design anyway. At the same time, additions such as acoustic fan 2.5D curved glass and the bottom of the trigger upper fan that redmi 4 did not end up being a 3S redmi recycled Prime. Like the first redmi 3S, the crack redmi 4 on a large 4100 mAh battery inside, and like the first redmi 3S, the redmi 4 also practically feel the same, no matter how it holds it. An all-metal construction, however, comes at a price. Things are bound to be a bit slippery at times. But in the case of redmi 3S, a strip of chrome in the front (and chaflanes) contributed a lot to balance the equation and improve the take, the redmi 4 – because it is much simpler compared – it is not the all metal smartphone More ergonomic (the prize) as his predecessor was back in the day. The Redmi 3S Prime is still almost the King in the North in this sense.

The redmi 4 is refining the jagged edges of redmi 3S, a feature that only the best in the company could deepen

Going up the redmi 4 – just like the redmi 3S – has always opened fingerprint scanner (it works fine most of the time, unless you have fat or sweat fingers) and physical capacitive keys in before ( Always) is not backlit. The power button and the rocker are straight, while the two-SIM card slot is on the left. Overall, the Redmi 4 is a well-designed smartphone that shouts prime from every corner and corner, just like its predecessor. In any case, it is even better than the first redmi 3S.

to exhibit
The redmi 4, like redmi 3S Prime, comes with a 5 “IPS 720p LCD. Brightness levels are more or less adequate and adaptive brightness functions as it should. The colors are rich and vibrant – a bit hot by default – but there is a manual correction mode on the inside that achieves better results, albeit slightly. There is also a built-in playback mode that changes color to a warmer finish of the spectrum for night reading.

Paytm Payments Bank Launched: Here’s What It Means for You

Paytm Payments Bank Launched: Here's What It Means for You
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Paytm Payments Bank Launched: Here’s What It Means for You

 

Tuesday Paytm announced the launch of its payment bank in India with a public notice in newspapers and a blog. This comes after months of delays, but according to the notice, the company’s Paytm portfolio is transferred to the newly formed entity, Paytm Payments Bank Ltd (PPBL). Paytm was ready to begin operations throughout the past year Independence Day.

In 2015, the RBI has granted approval, in principle, the founder Vijay Shekhar Sharma to set up a payment bank with 10 other people. So far, apart from Paytm only Airtel got its bank payment execution.

All Paytm portfolio accounts will be automatically transferred to new bank payments. If you do not want to continue with the bank, you need to unsubscribe by sending an email to or visiting [email protected] paytm.com/care to withdraw and change your balance by transferring your bank account.
Your account will remain a PPBL account portfolio, not a bank account. Inactive accounts for six months and that have a balance of zero will be transferred to PPBL there are no options. In addition to the wallet account, you can also open a Paytm bank payment or checking account. Although both have the same connection, it is necessary to open a separate bank account.
Paytm accounts are being deployed in beta for employees and associates. Other people may also request an invitation to become account holders at the bank. These accounts have a limit of Rs. 1 lakh per customer, and they are different portfolios as they can offer debit and interest cards.
For a Paytm bank account, you must visit the Paytm Bank page and click Request an Invitation. To do this you will need to log in to your Paytm account, and once you do, you automatically register your interest in being an account holder.
If the transfer of more than Rs. 25,000 in your Paytm bank account, you will receive a refund of Rs. 250 (1%), up to four times.
There is no minimum balance in the bank account. In addition, online transactions (such as IMPS, NEFT, RTGS) will have no charge.
One big difference between a portfolio and a paying bank is that it can offer an interest. Paytm pay 4% per year. This is below the 7.5% interest payment offered by the Airtel bank, and in line with what is obtained from the Axis, ICICI and HDFC.
On the other hand, unlike the portfolios, payment banks can offer debit cards (but not credit). According to the Paytm website, physical services such as a check book, debit cards and projects will be available from Paytm bank payments at a low price. Interestingly, Airtel offers no physical debit card, virtual, but to use online.
The bank will issue a Paytm Rupay debit card, which will be free but will be charged Rs 100 + shipping costs at annual rates. A lost card replacement will also be Rs. 100 + delivery. A checkbook of 10 sheets also cost Rs. 100 + shipping costs.
Paytm does not have its own ATMs. However, the debit card can be used free of charge five times in a non-meter or three times in the meter subway stop. Then there will be an Rs. 20 Cost of withdrawing cash, while other operations, such as check balances, will cost Rs. 5.