Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Brands

Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Smartphone Brands

After a long three year stint of being the best smartphone company in India, Xiaomi has now been defeated by none other than Samsung. 

India is the world’s second largest market when it comes to smartphones, and Samsung has now emerged as the leading company in this market.

Read on to find out all the details!

Samsung Beats Xiaomi To Become #1 Smartphone Company In Indian Smartphone Market

A marketing research firm Counterpoint has revealed that Samsung is to be credited for 24% market share, whereas, Xiaomi has lost its position due to a market share of 23%. Both the numbers are for the Q3 of 2020, which ended in September.

Same time last year, i.e., in Q3 2019, Samsung garnered 20% of the smartphone market whereas Xiaomi captured 26%. 

The report suggests that Samsung’s “strong performance was the result of multiple strategies, including effective supply chain and touching various price points through new launches.” 

However, another research firm, Canalys had reported last week that Xiaomi is still on the number one position with about 26.1% of the market share in Q3 2020, while that of Samsung was 20.4%.

As per Counterpoint’s research, the volume of units shipped by Samsung in Q3 2020 saw a hike of 32% year-over-year. Also, Samsung has benefited greatly by option for online sales and online launches of multiple affordable smartphones and handsets in the past few months.

Indian Smartphone Market Revived Drastically In Q3 September 2020: Counterpoint

However, both these firms have agreed that the Indian smartphone market has rebounded drastically during this quarter. 

Prachir Singh, senior research analyst, Counterpoint has said, ““The Indian smartphone market is on a recovery path as the lockdown restrictions have been relaxed. The market has shown a consistent growth for the last few months.” 

As per Counterpoint’s research, there were more than 53 million smartphone units that were shipped in Q3 2020, which marks a 9% year-over-year growth. Whereas, Canalys reported this figure to be about 50 million.

As per the findings of the research, the top 5 smartphone brands in India are:

#1: Samsung

#2: Xiaomi

#3 Vivo

#4: Realme

#5: Oppo

The post Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Brands first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/2HDu3gZ

Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Brands

Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Smartphone Brands

After a long three year stint of being the best smartphone company in India, Xiaomi has now been defeated by none other than Samsung. 

India is the world’s second largest market when it comes to smartphones, and Samsung has now emerged as the leading company in this market.

Read on to find out all the details!

Samsung Beats Xiaomi To Become #1 Smartphone Company In Indian Smartphone Market

A marketing research firm Counterpoint has revealed that Samsung is to be credited for 24% market share, whereas, Xiaomi has lost its position due to a market share of 23%. Both the numbers are for the Q3 of 2020, which ended in September.

Same time last year, i.e., in Q3 2019, Samsung garnered 20% of the smartphone market whereas Xiaomi captured 26%. 

The report suggests that Samsung’s “strong performance was the result of multiple strategies, including effective supply chain and touching various price points through new launches.” 

However, another research firm, Canalys had reported last week that Xiaomi is still on the number one position with about 26.1% of the market share in Q3 2020, while that of Samsung was 20.4%.

As per Counterpoint’s research, the volume of units shipped by Samsung in Q3 2020 saw a hike of 32% year-over-year. Also, Samsung has benefited greatly by option for online sales and online launches of multiple affordable smartphones and handsets in the past few months.

Indian Smartphone Market Revived Drastically In Q3 September 2020: Counterpoint

However, both these firms have agreed that the Indian smartphone market has rebounded drastically during this quarter. 

Prachir Singh, senior research analyst, Counterpoint has said, ““The Indian smartphone market is on a recovery path as the lockdown restrictions have been relaxed. The market has shown a consistent growth for the last few months.” 

As per Counterpoint’s research, there were more than 53 million smartphone units that were shipped in Q3 2020, which marks a 9% year-over-year growth. Whereas, Canalys reported this figure to be about 50 million.

As per the findings of the research, the top 5 smartphone brands in India are:

#1: Samsung

#2: Xiaomi

#3 Vivo

#4: Realme

#5: Oppo

The post Samsung Finally Beats Xiaomi To Become #1 Smartphone Brand In India: Here Are Top 5 Brands first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/2HDu3gZ

Salary Hike For 2.8 Lakh Cognizant Employees! Increment Will be Higher Than 2019

Cognizant to implement merit-based salary hikes and promotions for its employees in Q4.

We have been keeping you updated about IT companies declaring to roll-out salary hikes for all their employees, as IT businesses too have started to gain momentum, after a terrible Q2 performance due to the global pandemic.

Up until now, salary hikes for employees, starting from October 1 in most of the IT giants, were reported for all major IT giants as well as Tier-II IT companies in India, except Cognizant.

Now, the American multinational IT services provider Cognizant has announced that it will too start implementing merit-based salary hikes and promotions in the fourth quarter of this financial year, thus joining its competitors Infosys, TCS and Wipro, among others.

Cognizant’s Q3 Results Better than Expected

With ‘Work-from-Home’ becoming the new normal, companies from all sizes and backgrounds have heavily depended on secure and synced IT services.

Now, as markets reopen and the economy revives, IT businesses have started to gain momentum, thus rolling out phase-wise salary hikes for their employees.

Cognizant has announced to implement merit-based hikes and promotions in the upcoming quarter.

This is a result of the company’s excellent performance in the third quarter, outperforming analysts’ expectations. Its revenue guidance closed at $16.7 billion.

“Against a challenging demand environment, we continued to strengthen our portfolio, execute our digital strategy and increase competitiveness. We are creating 2020 bonuses at higher levels than 2019. We’re also implementing targeted merit-based increases and promotions in the fourth quarter.”, says Brian Humphries, Cognizant CEO.

Cognizant’s Q3 Performance

Let’s have a look at Cognizant’s performance in the third quarter:

• Revenue for Q3: $4.2 billion, including a 250 basis points contribution from acquisitions.
• However, due to retreat of content related services, a negative impact of 130 basis points was observed.
• While its healthcare services boomed by 4.2%, financial services fell by 2.2%.
• Thanks to higher incentive-based compensation, Cognizant’s operating margins came in at 14.2%. It is also a result of acquisitions and $43 million from its Fit For Growth restructuring plan.

The post Salary Hike For 2.8 Lakh Cognizant Employees! Increment Will be Higher Than 2019 first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/35QnSOq

Salary Hike For 2.8 Lakh Cognizant Employees! Increment Will be Higher Than 2019

Cognizant to implement merit-based salary hikes and promotions for its employees in Q4.

We have been keeping you updated about IT companies declaring to roll-out salary hikes for all their employees, as IT businesses too have started to gain momentum, after a terrible Q2 performance due to the global pandemic.

Up until now, salary hikes for employees, starting from October 1 in most of the IT giants, were reported for all major IT giants as well as Tier-II IT companies in India, except Cognizant.

Now, the American multinational IT services provider Cognizant has announced that it will too start implementing merit-based salary hikes and promotions in the fourth quarter of this financial year, thus joining its competitors Infosys, TCS and Wipro, among others.

Cognizant’s Q3 Results Better than Expected

With ‘Work-from-Home’ becoming the new normal, companies from all sizes and backgrounds have heavily depended on secure and synced IT services.

Now, as markets reopen and the economy revives, IT businesses have started to gain momentum, thus rolling out phase-wise salary hikes for their employees.

Cognizant has announced to implement merit-based hikes and promotions in the upcoming quarter.

This is a result of the company’s excellent performance in the third quarter, outperforming analysts’ expectations. Its revenue guidance closed at $16.7 billion.

“Against a challenging demand environment, we continued to strengthen our portfolio, execute our digital strategy and increase competitiveness. We are creating 2020 bonuses at higher levels than 2019. We’re also implementing targeted merit-based increases and promotions in the fourth quarter.”, says Brian Humphries, Cognizant CEO.

Cognizant’s Q3 Performance

Let’s have a look at Cognizant’s performance in the third quarter:

• Revenue for Q3: $4.2 billion, including a 250 basis points contribution from acquisitions.
• However, due to retreat of content related services, a negative impact of 130 basis points was observed.
• While its healthcare services boomed by 4.2%, financial services fell by 2.2%.
• Thanks to higher incentive-based compensation, Cognizant’s operating margins came in at 14.2%. It is also a result of acquisitions and $43 million from its Fit For Growth restructuring plan.

The post Salary Hike For 2.8 Lakh Cognizant Employees! Increment Will be Higher Than 2019 first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/35QnSOq

Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know

Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know

The good news for sleeper travelers, it’s their turn to enjoy the luxury bestowed by national transporter, Indian Railways.

As the new line of economy AC coaches is being prepared to replace the ordinary sleeper class for the upcoming trains which are designed to run at 130kmph.

New Line Of Coaches

As per the reports, a new prototype of the 3-tier “economy AC class” coach is being prepared at the Rail Coach Factory (RCF) in Kapurthala currently. 

“This will be a first-of-its-kind coach – an economy AC coach with luxury features of the upper class,” said Ravinder Gupta, the GM of RCF to TOI.

According to Mr. Gupta, the prototype will be ready by early next year, “subject to approvals from the Railway Board.”

Currently, interior designers are working on the interior design of the coaches.

Before having that experience, let’s go through the interesting facts about this new development of the Railway industry.

12 Interesting Facts You Should Know

1. In addition to that, they plan to provide an AC vent for each berth. 
2. In case you like to read while traveling then you can enjoy the reading light too.
3. On the other hand, if you like to watch movies or even indulge in social media, then no need to worry since every berth will have its own charging point for nightlong chats without being worried about draining the batteries.
4. The coach will have 83 berths, as against 72 in the current AC-3 and sleeper class coaches. 
5. Despite the increase in quantity, they will not feel cramped like the Garib Rath coaches rolled out in 2005. 
6.  The new economy AC coach will be inspired by the German LHB (Linke-Hofmann-Busch) platform that Indian Railways use now.
7. For the first time for mainline coaches of Indian Railways, the electrical controls have been slung under the carriage for creating the extra space for 11 extra berths.
8. These changes would be an upgrade from the non-AC sleeper class, that too without a significant reduction in space per passenger. 
9. The new smart design helps to create a feeling of roominess. They took inspiration from aircraft and car designs, will have personalized niches to create a de-cluttered feel.
10. Considering the hygiene measures, the coaches will have foot-operated water taps and soap dispensers in the toilet, forearm door handles, etc, to reduce touching of common surfaces. 
11. Additionally, the coaches will have better insulation to avoid heat loss and improved suspension for the additional load of passengers. 
12. The new coaches would be disabled-friendly with wider doors for easy wheelchair access to berths at the end and one disabled-friendly toilet per coach. 

The post Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/2HFQqT0

Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock

Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock

Amidst the ongoing Presidential elections in the US, the Trump administration has yet again lashed out another ‘proposed rule’, targeted towards crippling the entry and job opportunities for H-1B visa holders.

In the new rule proposed on October 28, 2020, USCIS will now grant visa petitions to applicants based on their salary levels, instead of H-1B visa lottery, in times when the agency receives more petitions than allowed under the annual limit.

This clearly indicates that the process of getting a visa petition in the US for foreign applicants will now be more complex.

What is this New Rule?

Currently, in cases when the U.S. Citizenship and Immigration Services (USCIS) receives an exceeding number of petitions than the annual limit, the ‘H-1B visa lottery’ procedure is used.

This grants 65,000 petitions to foreign citizens under the annual limit, while an additional 20,000 petitions to individuals having an advanced degree from a U.S. university.

However, according to the new rule proposed, after the USCIS receives registrations before the start of a fiscal year, if this number exceeds the H-1B limit allowed, the following applicants will be awarded petitions not based on a lottery system but on the basis of their salaries, from high to low.

“USCIS will rank and select the petitions received on the basis of the highest Occupational Employment Statistics (OES) wage level that the proffered wage equals or exceeds for the relevant Standard Occupational Classification (SOC) code in the area of intended employment, beginning with OES wage level IV and proceeding in descending order with OES wage levels III, II, and I.”, reads the proposal.

The same selection method will be used for the 20,000+ registration limit for H-1B advanced degree applicants as well.

How will This Process Affect Applicants?

Since ‘salary dependency’ wasn’t included in the selection of H-1B visa process until now, this new rule if implemented will make the process highly complicated.

The elimination of the lottery process will surely impact international students, IT professionals, physicians and others holding lesser experience, as they might not even land a visa.

The proposed rule also adds that if there are more number of petitions at a particular wage/salary level than the numeral limitation, USCIS will randomly select from these petitions to satisfy the numerical limit.

Proposed Rule Bad News for Employers Too

Practically, this new rule will not only affect foreign applicants adversely, it will also affect the US employers.

H-1B visa status is typically the only way to employ an international student long-term in the United States.

Allotting petitions only to highly paid applicants, the employers wouldn’t be able to hire a lesser experienced foreign employee as it wouldn’t be fair to pay them the same salary, as an experienced employee.

In this case, the employers will have to hire local employees. The proposed rule equates salary alone with value.

Mark Regets, an economist and senior fellow at the NFAP says,

“The four wage levels from the Department of Labor only tell us who is more highly paid within an occupation. It tells us nothing about the value to society between occupations.

Is a pediatrician or cancer researcher in his or her first year of work less valuable to America than a financial analyst with 7 years of experience? It appears unlikely a first-year pediatrician or cancer researcher, or a nurse, would obtain an H-1B petition under the proposed rule.”

The proposed regulation is open for a 30-day comment period. With the new POTUS elected soon, the fate of this ruling lies on the election. 

The post Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3myr0p1

UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More

UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More

After the immense success of the Unified Payments Surface, the NPCI is planning to introduce the online transaction platform to other parts of Asia as well.

The digital mode of payments have been widely preferred in India, and UPI has been the most popular among all platforms. 

NPCI To Export UPI System To Other Asian Countries; Will Start With Myanmar

Considering the rise in the preference for digital payment methods and UPI especially, the National Payments Corporation of India (NPCI) is now looking at exporting opportunities of the payment platform to other Asian countries.

We all know about NPCI International (NIPL), which is the subsidiary recently set up by NPCI. 

As per two people who are close to the development, NIPL, along with Euronet, a Kansas based company have together submitted a joint proposal to the Central Bank of Myanmar (CBM). The proposal is about developing Real-Time Retail Payments System and QR-code Generation and Repository System

These sources have revealed that “The CBM project has received grants from the World Bank, and a successful implementation of NPCI’s expertise could give a serious boost to its international aspirations.”

UPI To Face Tough Competition From MasterCard And Visa

However, there is a possibility that this bid might face tough competition from the global payment giants such as MasterCard and Visa who are also interested in the project. However, if the build is successful this will be the first of many international projects that NPCI is aiming for in the Asian market. 

There are several economies such as Malaysia UAE and Singapore who are looking forward to mass digitization in the future and are also looking for interoperable networks that are similar to the UPI platform.

In August, we reported that the UPI platform was all set to overtake Visa and Mastercard in the next 1000 days. As per reports given by the Reserve Bank of India, the volume of UPI transactions has increased by 13 times during FY18 and FY20. in the same time span, the value of transactions conducted over UPI has increased by as much as 20 times.

We’ll keep you informed as we get more updates!

The post UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3jGtDDp

Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know

Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know

The good news for sleeper travelers, it’s their turn to enjoy the luxury bestowed by national transporter, Indian Railways.

As the new line of economy AC coaches is being prepared to replace the ordinary sleeper class for the upcoming trains which are designed to run at 130kmph.

New Line Of Coaches

As per the reports, a new prototype of the 3-tier “economy AC class” coach is being prepared at the Rail Coach Factory (RCF) in Kapurthala currently. 

“This will be a first-of-its-kind coach – an economy AC coach with luxury features of the upper class,” said Ravinder Gupta, the GM of RCF to TOI.

According to Mr. Gupta, the prototype will be ready by early next year, “subject to approvals from the Railway Board.”

Currently, interior designers are working on the interior design of the coaches.

Before having that experience, let’s go through the interesting facts about this new development of the Railway industry.

12 Interesting Facts You Should Know

1. In addition to that, they plan to provide an AC vent for each berth. 
2. In case you like to read while traveling then you can enjoy the reading light too.
3. On the other hand, if you like to watch movies or even indulge in social media, then no need to worry since every berth will have its own charging point for nightlong chats without being worried about draining the batteries.
4. The coach will have 83 berths, as against 72 in the current AC-3 and sleeper class coaches. 
5. Despite the increase in quantity, they will not feel cramped like the Garib Rath coaches rolled out in 2005. 
6.  The new economy AC coach will be inspired by the German LHB (Linke-Hofmann-Busch) platform that Indian Railways use now.
7. For the first time for mainline coaches of Indian Railways, the electrical controls have been slung under the carriage for creating the extra space for 11 extra berths.
8. These changes would be an upgrade from the non-AC sleeper class, that too without a significant reduction in space per passenger. 
9. The new smart design helps to create a feeling of roominess. They took inspiration from aircraft and car designs, will have personalized niches to create a de-cluttered feel.
10. Considering the hygiene measures, the coaches will have foot-operated water taps and soap dispensers in the toilet, forearm door handles, etc, to reduce touching of common surfaces. 
11. Additionally, the coaches will have better insulation to avoid heat loss and improved suspension for the additional load of passengers. 
12. The new coaches would be disabled-friendly with wider doors for easy wheelchair access to berths at the end and one disabled-friendly toilet per coach. 

The post Sleeper Coaches Changed Into Economy AC Coaches: 12 Interesting Facts You Should Know first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/2HFQqT0

Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock

Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock

Amidst the ongoing Presidential elections in the US, the Trump administration has yet again lashed out another ‘proposed rule’, targeted towards crippling the entry and job opportunities for H-1B visa holders.

In the new rule proposed on October 28, 2020, USCIS will now grant visa petitions to applicants based on their salary levels, instead of H-1B visa lottery, in times when the agency receives more petitions than allowed under the annual limit.

This clearly indicates that the process of getting a visa petition in the US for foreign applicants will now be more complex.

What is this New Rule?

Currently, in cases when the U.S. Citizenship and Immigration Services (USCIS) receives an exceeding number of petitions than the annual limit, the ‘H-1B visa lottery’ procedure is used.

This grants 65,000 petitions to foreign citizens under the annual limit, while an additional 20,000 petitions to individuals having an advanced degree from a U.S. university.

However, according to the new rule proposed, after the USCIS receives registrations before the start of a fiscal year, if this number exceeds the H-1B limit allowed, the following applicants will be awarded petitions not based on a lottery system but on the basis of their salaries, from high to low.

“USCIS will rank and select the petitions received on the basis of the highest Occupational Employment Statistics (OES) wage level that the proffered wage equals or exceeds for the relevant Standard Occupational Classification (SOC) code in the area of intended employment, beginning with OES wage level IV and proceeding in descending order with OES wage levels III, II, and I.”, reads the proposal.

The same selection method will be used for the 20,000+ registration limit for H-1B advanced degree applicants as well.

How will This Process Affect Applicants?

Since ‘salary dependency’ wasn’t included in the selection of H-1B visa process until now, this new rule if implemented will make the process highly complicated.

The elimination of the lottery process will surely impact international students, IT professionals, physicians and others holding lesser experience, as they might not even land a visa.

The proposed rule also adds that if there are more number of petitions at a particular wage/salary level than the numeral limitation, USCIS will randomly select from these petitions to satisfy the numerical limit.

Proposed Rule Bad News for Employers Too

Practically, this new rule will not only affect foreign applicants adversely, it will also affect the US employers.

H-1B visa status is typically the only way to employ an international student long-term in the United States.

Allotting petitions only to highly paid applicants, the employers wouldn’t be able to hire a lesser experienced foreign employee as it wouldn’t be fair to pay them the same salary, as an experienced employee.

In this case, the employers will have to hire local employees. The proposed rule equates salary alone with value.

Mark Regets, an economist and senior fellow at the NFAP says,

“The four wage levels from the Department of Labor only tell us who is more highly paid within an occupation. It tells us nothing about the value to society between occupations.

Is a pediatrician or cancer researcher in his or her first year of work less valuable to America than a financial analyst with 7 years of experience? It appears unlikely a first-year pediatrician or cancer researcher, or a nurse, would obtain an H-1B petition under the proposed rule.”

The proposed regulation is open for a 30-day comment period. With the new POTUS elected soon, the fate of this ruling lies on the election. 

The post Trump May End H1B Visa Lottery: Highest Salaried Applicant Will Get H1B Visa First; Indian Students, IT Employees In Shock first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3myr0p1

UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More

UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More

After the immense success of the Unified Payments Surface, the NPCI is planning to introduce the online transaction platform to other parts of Asia as well.

The digital mode of payments have been widely preferred in India, and UPI has been the most popular among all platforms. 

NPCI To Export UPI System To Other Asian Countries; Will Start With Myanmar

Considering the rise in the preference for digital payment methods and UPI especially, the National Payments Corporation of India (NPCI) is now looking at exporting opportunities of the payment platform to other Asian countries.

We all know about NPCI International (NIPL), which is the subsidiary recently set up by NPCI. 

As per two people who are close to the development, NIPL, along with Euronet, a Kansas based company have together submitted a joint proposal to the Central Bank of Myanmar (CBM). The proposal is about developing Real-Time Retail Payments System and QR-code Generation and Repository System

These sources have revealed that “The CBM project has received grants from the World Bank, and a successful implementation of NPCI’s expertise could give a serious boost to its international aspirations.”

UPI To Face Tough Competition From MasterCard And Visa

However, there is a possibility that this bid might face tough competition from the global payment giants such as MasterCard and Visa who are also interested in the project. However, if the build is successful this will be the first of many international projects that NPCI is aiming for in the Asian market. 

There are several economies such as Malaysia UAE and Singapore who are looking forward to mass digitization in the future and are also looking for interoperable networks that are similar to the UPI platform.

In August, we reported that the UPI platform was all set to overtake Visa and Mastercard in the next 1000 days. As per reports given by the Reserve Bank of India, the volume of UPI transactions has increased by 13 times during FY18 and FY20. in the same time span, the value of transactions conducted over UPI has increased by as much as 20 times.

We’ll keep you informed as we get more updates!

The post UPI’s Success Will Be Replicated Across Asia: NPCI Plans Expansion In Malaysia, UAE, Singapore & More first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3jGtDDp

Privatization Of IDBI Bank Starts Soon, Govt Will Sell Its 47.11% Stake To Private Firms; IDBI Bank Earned Rs 326 Cr In Q2-2020

Privatization Of IDBI Bank Starts Soon, Govt Will Sell Its 47.11% Stake To Private Firms; IDBI Bank Earned Rs 326 Cr In Q2-2020

The Government of India is planning on selling the stakes in the Industrial Development Bank of India (IDBI) which was established in 1964.

With the plans in the initial phase, the exact manner of the transaction is likely to be finalized later.

Read on to know more…

IDBI Stake Sale To Begin By The End of FY2020-2021!

In the Union Budget 2020-21, Finance Minister Nirmala Sitharaman had announced that the government intends to sell its balance holding in IDBI Bank to private, retail, and institutional investors through the stock exchange.

Sources with knowledge in the matter said that in the next few weeks, the Ministry of Finance is likely to seek Cabinet approval for selling its stake in IDBI Bank. 

Currently, the Govt has a 47.11% stake in IDBI Bank. The sale might take place in two to three tranches.

However, this being the first step, the transaction could take place towards the end of FY2020-2021 or at the start of the next fiscal year.

A person familiar with the development said, “As of now, work has begun on the initial proposal.”

Under the Centre’s disinvestment program, this transaction would help raise funds. The target of the divestment program for FY2020-21 is Rs 2.1 lakh crore from stake sale proceedings. 

The bank had noted a whopping net profit of Rs 324 crore for the quarter that ended on September 30 as opposed to the net loss of Rs 3,459 crore. 

Along with a huge profit, IDBI’s asset quality has also improved with gross non-performing assets at 25.08% of gross advances as of September 30, 2020, versus 29.43% the previous year.

LIC’s Role In Divestment of IDBI!

The state-owned Life Insurance Corporation (LIC) of India also owns a 51% stake in the bank. 

LIC has also been noted of the sale proposal although it’s not clear whether the insurance body will divest its stake in the bank as of now. 

The insurer might divest when the valuations look attractive. 

The post Privatization Of IDBI Bank Starts Soon, Govt Will Sell Its 47.11% Stake To Private Firms; IDBI Bank Earned Rs 326 Cr In Q2-2020 first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/31TzXS0

All Borrowers In India Will Get Back Interest On Interest Charged During Lockdown By November 5th

All Borrowers In India Will Get Back Interest On Interest Charged During Lockdown By November 5th; Which Loans Are Eligible?

Amidst the ongoing reports on the RBI loan moratorium, we informed you that the Supreme Court directed the government to implement the interest on interest waiver on loans worth upto Rs 2 crore, by November 2.

The finance ministry has come out with a new notification, highlighting that that all the eligible borrowers will be credited the interest on interest on outstanding loans during the 6 month moratorium period, on or before November 5.

The ministry has also announced that once the amounts are credited to all those eligible, the financial institutions can claim for reimbursement from the Central Government.   

Interest on Interest Credited by Nov 5

The government had submitted an EMI Moratorium affidavit to the apex court earlier this month, as per which relief would be provided to borrowers who availed personal loans worth up to Rs 2 crore during the six month moratorium period from March to August.

The Government has now announced via a notification that all the suitable borrowers, who availed the loan moratorium fully or partially, along with the ones who paid their EMIs on time, shall be credited with the ‘interest on interest’ or compound interest amount, charged during the six-month loan moratorium period.

All the nationalised banks, financial institutions and lending institutions are directed by the government to credit the suitable borrowers’ accounts by November 5.

After doing so, the financial institution can file for reimbursement from the Central government, by December 15.

Eligible Sectors/Borrowers for ‘Compound Interest’ Credit

Under this scheme introduced by the government, the eligible borrowers being credited the compound interest between March 1, 2020 to August 31, 2020 are the following sectors and individuals.

• Small and Medium Enterprises (SMEs)
• Education
• Auto
• Consumer
• Business
• Education, and
• Borrowers who have taken personal loans worth up to Rs 2 crore.

Even those individuals who have delayed their credit card repayment due to the moratorium period, will avail this relief package.

In fact, those borrowers who did not avail the EMI deferment during the moratorium period, shall be able to avail the package too.

It is likely to cost the government Rs 6,500 crore.

This relief package will be beneficial to borrowers whose loan accounts were not NPAs as of February 29, 2020. 

The post All Borrowers In India Will Get Back Interest On Interest Charged During Lockdown By November 5th first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3kIYrou

WhiteHat Jr Ads Are Banned By Advertising Body: 5 Ads To Be Removed Because They Are Misleading

WhiteHat Jr Ads Are Banned By Advertising Body: 5 Ads To Be Removed Because They Are Misleading

We all have watched the Whitehat Jr advertisements, where kids are encouraged to learn to code and be the next Mark Zuckerbergs of their generations. There have been multiple memes, jokes, and some criticism on these ads as well.

But now, the advertisements have been asked to be pulled down by the advertising council of India.

What’s the reason behind this demand by the advertising council? What is wrong with Whitehat’s advertisements? Read on to find out!

ASCI Asks WhiteHat Jr To Withdraw Advertisements For Dubious and Unsubstantiated Claims

The Advertising Standard Council of India (ASCI) has asked the kid’s coding startup owned by Byju to pull down their advertisements. The ASCI is the self regulatory body of advertisements. As per reports, the claims made by the advertisers are dubious and unsubstantiated.

As much as 15 complaints have been registered against seven advertisements of WhiteHat Jr. Manisha Kapoor, secretary general of ASCI said, “ASCI has processed 15 complaints against seven advertisements of WhiteHat Jr.” 

She has also confirmed that five of these advertisements were in potential violation of the code of the ASCI. As per Kapoor, the advertiser has agreed to withdraw the advertisements instantly when asked for a response by the ASCI. she said, “The advertiser also has assured ASCI of their cooperation to adhere to the ASCI code going forward.”

“One such advertisement was taken up suo motu by ASCI as well,” says Kapoor. 

WhiteHat Jr Taking Credit For Apps Developed By Children?

For two advertisements, no violation was identified by the ASCI, and hence, complaints against the two advertisements weren’t upheld. As per reports, one of these advertisements could be in potential violation of The Emblems and Name (Prevention of Improper use) Act. Also, Kapoor has said that the government has directed the complainant to approach for this potential violation.

Also, WhiteHat Jr’s claims on social media are being criticized too. Kapoor said, “In recent times, some advertisements have come under scrutiny on social media, and ASCI has been tagged.” However, on contacting WhiteHat Jr, she was told that some of the advertisements were quite old and have already been withdrawn.

Some advertisements by WhiteHat Jr include claims such as “It’s taking him to Silicon Valley, where he will meet top scientists, engineers,” and “This (will) shape their future destiny as tech creators.” 

Additionally, many of the apps actually developed by the kids are up and running on Play Stores, but haven’t been credited to the children who made them. Instead, the credit goes to WhiteHat Jr. 

The post WhiteHat Jr Ads Are Banned By Advertising Body: 5 Ads To Be Removed Because They Are Misleading first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/2TO0hsp

Realme C17 For Rs 9,999? 90Hz Display, Quad Camera, 18W Fast Charging, India Launch In Diwali

Realme C17 price in India? Realme C17 specs? Realme C17 has already been launched in Bangladesh, and the new Realme C device could be coming to India during Diwali. Realme C17 a few days back in Bangladesh but it might bring it to India soon. As per some leaks, Realme C17 Pro could be in development as well.

Realme C17 For Rs 9,999? 90Hz Display, Quad Camera, 18W Fast Charging, India launch In Diwali

Realme C17 India launch is said to happen soon, maybe by Diwali.

Realme C17 has already been unveiled in Bangladesh. The company will be refreshing the Realme C series phones with a Qualcomm processor. The company will soon unveil Qualcomm Edition Realme C smartphones in India. 

Here’s what you need to know about Realme C17.

Realme C17 Specs: Realme C17 Features, Full Specs

Coming to specifications, Realme C17 comes with a 6.5-inch HD+ 720p display offering 90Hz refresh rate. The high refresh rate on a budget Realme phone shows the company’s dedication to the budget category. Realme C17 is powered by an octa-core Qualcomm Snapdragon 460 processor paired with 6GB of RAM and 128GB of internal storage.

The storage on Realme C17 can be further expanded with an external microSD card of up to 256GB. Realme C17 runs on the latest Android 10 based Realme UI.

In terms of optics, Realme C17 comes with a quad camera system. The four camera setup includes a 13-megapixel main camera along with an 8-megapixel ultrawide camera, a 2-megapixel black-and-white camera, and a 2-megapixel macro camera. 

For selfies, there’s an 8-megapixel camera on the front of Realme C17 with a fingerprint sensor at the back. The device has a USB-C port along with a 3.5mm headphone jack. Realme C17 is backed by a sizable 5,000mAh battery which supports 18W fast charging. On a single charge, Realme C17 can easily run for more than a day.

Realme C17 Price In India, Realme C17 Price In India Flipkart

Realme C17 prices are out. The device has been launched in Bangladesh for BDT 15,990 (around Rs 13,900 in India). Realme C17 price in India is going to be more aggressive. Realme C15 in India costs Rs 9,999 for the base variant, so it will either start at the same level or in the next segment.

Realme C17 price in India is expected to start at Rs 10,999 for the base model given the company’s aggressive pricing strategy in the country. Realme India is yet to confirm the development.

Realme C17 India Launch: During Diwali? Realme C17 Pro Coming?

Tipped by Mukul Sharma on Twitter, Realme C17 India launch may happen in a few days. While the company is yet to confirm, Realme C17 launch in India will happen after Diwali, probably sometime in November or early December. Realme may unveil an exclusive for the festive season.

Realme will soon launch Realme C smartphones Qualcomm Edition starting with Realme C15.

The post Realme C17 For Rs 9,999? 90Hz Display, Quad Camera, 18W Fast Charging, India Launch In Diwali first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/37OAqsp

IIT Genius Arrested For Creating App To Book Train Tickets Faster Than IRCTC App; Police Says He Broke Laws

IIT Genius Arrested For Creating App To Book Train Tickets Faster Than IRCTC App; Police Says He Broke Laws

An IITian, who intended to build a railway ticket booking app to make booking easier for passengers has been arrested.

There are countless apps that act as an alternative to the IRCTC’s railway ticket booking app, and the IITians app is not an exception to this. Read on to find out why he was arrested right here!

IITian Arrested For Developing Apps To Book Railway Tickets

A pass out of IIT Kharagpur, Tirupur native S Yuvarajaa created the ‘Super Tatkal’ and ‘Super Tatkal Pro’ railway ticket booking apps. However, despite these apps not being the only ones to offer railway ticket booking options, he is the only one to be arrested for designing such an app.

As per reports, the accusation on S Yuvarajaa is that he created an online platform that will allow customers to book railway tickets and pay through a coin based system which bypasses the IRCTC ticket booking system. 

Apparently, he created both the apps for Android systems in 2016 and they were an immediate hit. However, these apps were removed from Google and are unavailable for download as well. 

As per reports, he was tracked down by the Cyber Cell of Railway Protection Force (RPF) in Chennai with the help of server source code, application source code, end-users list and his bank statements.

Southern Railway principal chief security commissioner Birendra Kumar said, “He created a software to book tickets faster and he was not even an authorised agent of IRCTC.”

As per some rail officials, these online ticket booking apps built by S Yuvarajaa were fast, and therefore it isn’t fair to people who were trying to book tickets through the IRCTC’s official website.

Twitter User, Friend Of Accused Claims False Allegations

However, a Twitter user who claims he is a friend of the accused has said, “A classmate of mine in college has been arrested by police for creating an app that auto-filled ticket booking webpages of @RailMinIndia. It didn’t even auto-fill captchas and obviously payment happened to railways directly and yet he is being accused of creating ‘fake app’ and swindling money per police statements to media (who have written stories based on it as if it is the gospel truth). :-( Even mild innovation is a crime in India. This is the reality of @_DigitalIndia Indian govt keeps talking about.”

We wonder what the truth is! If we get any updates, we will keep you informed!

The post IIT Genius Arrested For Creating App To Book Train Tickets Faster Than IRCTC App; Police Says He Broke Laws first appeared on Trak.in . Trak.in Mobile Apps: Android | iOS.

from Trak.in – Indian Business of Tech, Mobile & Startups https://ift.tt/3jFyCnQ