<ul><li><keyword id="2645087" type="General" weightage="20" keywordseo="rategain" source="Orion">RateGain</keyword> intended to raise ₹1,335 crore through this public issue.</li><li>RateGain is seeking a valuation of $600 million at the upper end of the price band.</li><li>It is a SaaS platform, which solely focuses on the travel and hospitality segment.</li></ul>The allotment status of Rategain’s initial public offering (IPO) is likely to be announced today, December 14. The issue has been subscribed 17 times in the three days of its public issue between December 7 to December 9, 2021. The issue reserved for non-institutional buyers — like companies and high networth individuals — has been subscribed over 42 times. The company received bids for 30 crore equity shares versus the issue size of 1.7 crore shares up for sale. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.42 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-Institutional Buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42.04 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.08 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.37 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.41 </td></tr></tbody><tbody></tbody></table> The company intended to raise ₹1,335 crore through this public issue. The price range of RateGain’s IPO has been set at ₹405-₹425. The minimum lot size is 35 shares, meaning a retail investor would have to shell out ₹14,875 to buy one lot. The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at ₹37 on December 13. The company will likely list on the<a href="https://www.businessinsider.in/business/news/rategains-ipo-opens-today-grey-market-premium-at-85/articleshow/88126120.cms"> stock exchange on December 17</a>. Here is how to check RateGain’s IPO allotment status on the stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘RateGain’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘RateGain’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit</li></ul>Once you hit 'submit, the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. RateGain — founded in 2004 by Bhanu Chopra — solely focuses on software stack for travel and hospitality segment. The company’s softwares covers an entire set of data points including pricing, rating, ranking, availability, room description, cancellation policy, discounting and packages, among other things. It has over 1,434 customers — across the hotel, hospitality and online travel agency (OTA) segment — spread across 110 countries. It’s clientele includes Lemon Tree, InterContinental Hotels Group, Kessler Collection, GroupOn and Sabre GLBL. RateGain is seeking a valuation of ₹4,537 crore (about $600 million) at the upper end of the price band. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms" data-type="tilCustomLink">After giving up on 90-minute delivery five years ago due to lack of profitability, Grofers is now chasing 10-minute delivery</a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a>

RateGain’s IPO allotment status would be announced today — GMP at ₹37

<ul><li>Today is the second day to subscribe to footwear retailer Metro Brands, which will close its IPO on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹25 in the grey market while the price band is at ₹485 to ₹500.</li></ul>Today, December 13, is the second day to subscribe to marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India. The initial public offering (IPO) has been subscribed just 27% on the first day of the bidding process. Meanwhile, the grey market premium of the company’s shares has been falling since the last couple of days from ₹80 to now at ₹25 per share. The company was performing well <a href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">until COVID-19 </a>hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic. However, most analysts suggest subscribing to the issue because of the growth opportunities in the footwear segment along with the company’s strong financial track record. <div type="image" title="metro cagr" height="900" width="1200" msid="88253021" hostid="261"></div> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody><tbody></tbody></table> Analysts at Hem Securities recommend subscribing to the issue because of the experienced management team at Metro Brands and its strong track record of growth, profitability and financial discipline. Metro Brands operate 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Categories and players in India’s footwear industry <div type="image" title="ventura peer pyramid" height="900" width="1200" msid="88253050" hostid="261"></div> “Due to [the] pandemic, the industry has opened up much more growth opportunities like transition from large unorganised segments to organised players, many acquisition prospects, e-commerce expansion etc. We expect Metro Brands to continue the growth momentum, given above set-up in addition to tying up with third party brands like FitFlops. We recommend “Subscribe for long term,” said analysts at Nirmal Bang Securities. A report by Choice Broking firm says that Metro Brands is one of the largest footwear retailers with around 3-4% market share in the organised market space. “It has reported strong financial performance with robust cash flow generation. The company is [sic] consistently paying dividend [sic] since FY2000. Thus considering the above observations, we assign a “Subscribe for long Term” rating for the issue,” said the report. <div type="image" title="metro ope marging" height="900" width="1200" msid="88253088" hostid="261"></div> Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-backed-grofers-rebrands-to-blinkit-as-focus-shifts-to-10-minutes-delivery/articleshow/88251384.cms">Grofers puts on a new name, Blinkit, to show how the focus of its business is changing</a>

The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say

<a href="https://www.businessinsider.com/category/master-your-crypto"></a><div type="image" title="Jocelyn Cheng, the CEO of Luno Expeditions." height="1011" width="2023" msid="93909158" hostid="261"></div><ul class="summary-list"><li>Many of the most practical uses for crypto are in emerging markets, according to Jocelyn Cheng.</li><li>Cheng says crypto can reduce the costs of remittances and open up access to loans in those markets.</li></ul>The crypto crash has significantly chopped down the value of assets such as bitcoin and ethereum, but some investors say it's also presented opportunities to back companies at the forefront of emerging trends in the Web3 space.Jocelyn Cheng, the London-based CEO of Luno Expeditions, believes many of those opportunities lie beyond the US. Her firm, the venture arm of Luno, a crypto-investing company, has invested in 30 Web3 and fintech companies in 15 countries, including Nigeria, Kenya, and Pakistan.Several of Luno's portfolio companies, including Kotani Pay, a crypto-payments startup, focus on customers in emerging markets such as Africa, South Asia, and Latin America. Insider spoke with Cheng about where she thinks crypto applications are poised to grow globally.This interview has been condensed and slightly edited for length and clarity.What areas within crypto are most exciting to you right now?We continue to see a lot of interest in stablecoins. There was a <a href="https://markets.businessinsider.com/news/currencies/terra-terrausd-luna-ust-stablecoin-plunge-do-kwon-death-spiral-2022-5?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="nofollow noopener sponsored">very public stablecoin blow-up</a>, but the core utility for emerging markets is still there. They've become popular because not only are they good on-ramps from fiat currency to crypto, but also because by definition, they are linked to a stable asset such as the US dollar.They're able to help weather price volatility, especially for emerging-market investors. Historically, to have access to US dollars, they'd have to incur significant fees. With stablecoins, the benefit is that it really makes access to the US dollar much more affordable.What's the use case for stablecoins for the average person in an emerging market?I'll give you a personal example, if it's OK. Many years ago, I was living in Tanzania and I was renting an apartment. I had a US-dollar account in the US, and they demanded my rent in US dollars in cash. But because I was in Tanzania, I had to go to the ATM and — out of my US-dollars account — withdraw Tanzanian shillings.That was the only option. I had to pay ATM fees, foreign-transaction fees, out-of-network fees, and I had to take those Tanzanian shillings and take them to a local FX dealer just to exchange them back into US dollars to hand to my landlord. My landlord then took that US-dollar cash and had to do basically the same in reverse to deposit it in their local account.We think that the benefit of having stablecoins is being able to make that process more streamlined. We've invested in companies like Caliza, which is a B2B company that offers fintech companies the infrastructure to offer synthetic-US-dollar accounts using stablecoins. A customer can deposit local currency, where it's converted to a stablecoin like USDC, held by a custodian that provides direct access to US banking.Are there any other opportunities you see for crypto in emerging markets?There is a huge opportunity for crypto to provide better international-payment rails. Remittances are the source of income for 800 million people globally. I think crypto has a really important ability to make remittances faster and cheaper.In the traditional method, it can take up to five days, and on average, it can cost 7% for a $200 transfer. On the other hand, crypto allows the transfer of money within minutes from one wallet to another. User-to-user fees would depend only on the blockchain's transaction fees.In some of the pilots that we've seen for using crypto as a remittance rail, we've seen that transaction fees are really reduced. There's a company in our portfolio called Kotani Pay, which has been testing cross-border payments of gig workers in Kenya. Using crypto, they've cut down transaction fees by 93%.We've also seen other companies a little bit more advanced than our early-stage focus. Other companies like Coins.ph and Aza Finance work in emerging markets and use crypto rails for remittances. They offer a much lower cost: 1% to 4%, rather than the 7% global average, and it also takes minutes to settle rather than five days.What are the specific benefits that crypto offers over other technologies?It streamlines the whole flow. If you're looking for instant settlement or very quick settlement, it avoids the need for the provider to have enormous cash reserves in destination countries.Ultimately, there is a need for a last-mile payout for the recipient. There is a need to, for example, integrate with mobile money or, in some cases, 7-Eleven — wherever that last-mile pickup point is for the recipients. So it is critical to integrate with non-crypto systems as well, but crypto provides a faster and cheaper rail for the cross-country part.This is one of the things that we're really excited about, working with Kotani Pay, the company I mentioned earlier. They don't need internet access in order to connect to blockchain. That's important because in Africa, something like 50% of people still use feature phones. So a user doesn't actually need to see crypto in order for them to get the benefits of crypto.Kotani Pay connects blockchain protocols to local-payment channels by using USSD services, which are the dominant channels for mobile-money payments. So clients with access to those local-payment channels can transfer money using feature phones.Do you think most people will end up interacting directly with crypto, or will it just be in the background even as more people start to use these services?I think, for sure, we will see more and more people interacting directly with crypto globally. But I think we can also design for a world in which people have the benefits of crypto but don't need to know what an NFT is or what the private keys to their wallet are.One thing that we think is quite interesting, but still very nascent, is to have crypto — more specifically <a href="https://www.businessinsider.com/personal-finance/what-is-defi" target="_blank" rel="nofollow noopener sponsored">DeFi</a> — provide a more efficient capital source for funding in emerging markets.We are seeing some early stories come out: For example, Goldfinch, which is not a portfolio company but is one that we're very interested in. It has enabled borrowing by more than a million people in businesses across India, Mexico, Southeast Asia, and Nigeria, and has more than $100 million in active loans.Goldfinch works with existing lending businesses who handle the loan origination and services, so there's no real behavior change needed from the borrower's end. But then those lending businesses are able to tap into global credit pools using DeFi, draw down stablecoins from the pool, and deploy them on the ground in their local markets.This article is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized investment, legal, or other business and professional advice. Before taking any action, you should always consult with your own financial, legal, tax, investment, or other professional for advice on matters that affect you and/or your business.

Why VC Jocelyn Cheng, the CEO of Luno Expeditions, believes the next big opportunities for crypto are in Kenya, Nigeria, and other emerging markets

<keyword id="2473706" type="PERSON" weightage="20" keywordseo="Pradhan-Mantri-Jan-Dhan-Yojana">Pradhan Mantri Jan Dhan Yojana</keyword> (PMJDY) was launched in India in August 2014. This is a National Mission for achieving financial inclusion and making a range of financial services like savings, deposits, banking, credit, remittance, insurance and pension easy and accessible to all sections of the masses. PMJDY aims to deliver financial services at an affordable cost to the low-income segments of the public and reduce poverty in India. An individual can open an account under the PMJDY scheme with any one of the banks in the country or with a Business Correspondent (Bank Mitr) outlet. People can open a zero balance account under this scheme and must maintain a particular minimum balance if they want to get a cheque book. The account holders are given RuPay debit cards under this scheme which they can use across any ATM in the country for withdrawal of cash. Here is how you can check your <keyword id="9064496" type="UNKNOWN" weightage="20" keywordseo="jan-dhan-yojana-account-balance">Jan Dhan Yojana account balance</keyword>. The National Payments Corporation of India (NPCI) has innovated the *99# service for the banking customers in India. This service can be used for mobile banking by anyone who has a bank account with any bank. The minimum requirement is that the individual must have a mobile phone – smart phone or even a basic phone. The handset must be GSM enabled. Users of CDMA handsets cannot use this facility. About *99# service *99# is a mobile banking service. Based on USSD (Unstructured Supplementary Service Data). Through *99# service, the NPCI has brought together the telecom service providers and banks to provide a range of services to the banking customers in India. to gain access to financial and non-financial services, the individuals need to have mobile banking activated on his or her account and use the registered phone number to dial the code *99# and then follow the simple steps to access the range of services allowed on their account. Balance check using *99# service To check the <keyword id="9064495" type="UNKNOWN" weightage="20" keywordseo="jan-dhan-yojana-account">Jan Dhan Yojana account</keyword> balance using this facility, you must have your mobile number linked with your account. Also your mobile banking must be active. Your phone must be a GSM handset. The registered phone number must be on and active on your phone. If all these conditions are met, you can get started with the *99# service. Follow the steps given below to know your <keyword id="6392137" type="UNKNOWN" weightage="20" keywordseo="Jan-Dhan-Yojana">Jan Dhan Yojana</keyword> account balance using this service. <ul><li>Dial *99# from your handset.</li><li>You will receive a welcome message on your phone. You will be prompted to enter any one of the following details:</li><li>The first 3 letters of your bank’s short name.</li><li>The first 4 letters of your bank’s IFSC code.</li><li>You must first check and know the right short name or IFSC code of your bank before using this service. </li><li>Once you enter any one of these details and hit OK, you will find a list of services offered under this facility. The first option that starts with the serial number 1 is balance enquiry. </li><li>If you need to check the balance in your Jan Dhan Yojana account, press ‘1’ and then press submit. </li><li>Following a confirmation screen, you will see the balance of your account displayed on the phone screen.</li></ul>Source: <a href="https://pmjandhanyojana.co.in/99-banking-services-statement-funds-transfer/">https://pmjandhanyojana.co.in/99-banking-services-statement-funds-transfer/</a> See Also - <a href="https://www.businessinsider.in/steps-to-check-account-balance-in-sbi/articleshow/69607243.cms">How to check account balance of SBI</a>

How to check Pradhan antri jan dhan yojana account balance

New Delhi, Apr 21 () After constantly rising for the past several months, the volume, as well as value, of transactions through UPI payment system dropped in March due to the 21-day nationwide lockdown imposed to combat the coronavirus infection. Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows one to instantly transfer money to any bank account. According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February. The value of UPI transactions too came down to Rs 2.06 lakh crore during March, from Rs 2.23 lakh crore in February. The number and value of transactions through the UPI had been constantly growing, barring marginal decline in some months. The 21-lockdown imposed by the government with effect from March 25 to fight coronavirus seems to have adversely impacted the transactions through UPI. The real impact, however, will be known once the transactions data for April is known. The lockdown has been extended till May 3, though with some concessions. The NPCI data on IMPS (Immediate Payment Service) revealed the number of transactions fell to 21.68 crore in March from 24.78 crore in the previous month. There was also a decline in the value of transactions during March to Rs 2.01 lakh crore from 2.14 lakh crore in February. IMPS provides real-time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, ATM, SMS, Branch and USSD (*99#). The 24X7 IMPS empowers customers to transfer money instantly through banks and RBI authorised Prepaid Payment Instrument Issuers (PPI) across India through mobile phone, internet banking and ATM. Meanwhile, an RBI data revealed that value of Real Time Gross Settlement (RTGS) transactions shot up to Rs 120.47 lakh crore in March, up 34 per cent over February. The total value of RTGS transactions in February was 89.9 lakh crore. NKD MRMR

UPI transactions drop in March, RTGS shoots up due to lockdown

The uncertainty of COVID-19 has taken a toll on people, but as always, music has come to the rescue. People turned to <keyword id="685487" type="General" weightage="20" keywordseo="spotify" source="Orion">Spotify</keyword> — the world’s biggest music platform with 381 million plus active users — to get them in the mood, away from the screen, closer to friends, and take on parenting amid the uncertainty of the pandemic. A <a href="https://liveshareeast3.seismic.com/i/5zKKuoQjpM579PJOr5oxJ5ea7PLUSSIGNVPnzelwrXmlXPLUSSIGNwOqW2FsPLUSSIGNAAxPLUSSIGN7DTL95tPLUSSIGNWFe2AlpJNoADxzSFseV1f13xwe______VlKolYAj___TPLUSSIGNNUIbyZFtPHTJDdeTHvzCoPHJMYHo7t">new report</a> by the music giant highlights not only how listening patterns have changed over the past rollercoaster of a year, but also how advertisers and creators are finding new ways to forge connections with the users — like the fact that podcasts are gaining momentum across age groups. The total time spent listening to podcasts by moms, dads and new parents grew by 83%. Meanwhile, among those between the ages of 15 to 44 years, there was a 34% jump in users. 61% of Gen Zs and millennials globally said they feel empowered to build a “better” normal. Here are the top five trends that Spotify saw jump this year with listeners opening up to new experiences, new gadgets, and new environments: <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:4pt;">1. Music helps us combat too much screen time</h2>Looking to rebuild and rebalance, audiences sought ways to rise above the digital clutter. Many turned to sound, with 79% of global audiences agreeing that they embraced digital audio as a tool to combat screen fatigue.2 Spotify was a haven for consumers as they leaned into (and on) sound, with overall minutes played on the platform increasing by +22% from 2020 to 2021 for users aged 15 to 443. And 69% of Gen Z and millennial Spotify users agreed that audio acted as a soundtrack to their daily lives.4 <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;">2. Music helps us bridge the distance</h2>In the face of challenging circumstances to stay connected to loved ones, listeners increasingly used sound to bridge the gap by sharing moments and culture, maintaining their digital connections over the distance. For example, 59% of Gen Z and millennial Spotify users globally said they’ve shared more content with friends as a way of staying in touch.6 More than 2.1 billion tracks, shows, albums, and artists were shared via Spotify in 2021, and there were more than 22 million collaborative Spotify playlists created in the last year.7 <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:4pt;">3. Music helped us maintain calm at home</h2>As the pace of our households slowed, audio brought us together through communal listening. Smart speakers — which served as the centerpiece, serving up everything from dance party mixes to songs from “Cocomelon” — rose in popularity among Spotify users globally in 2021, with total listening time through smart speakers growing by 29% YoY.8 Speaking of “Cocomelon,” we saw this trend growing specifically among parents, with 63% saying they’ve been listening to music and podcasts through smart speakers.9 <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;">4. It’s not just about the music…</h2>While audiences' worlds remained in flux, sound allowed them to embrace new experiences: 68% of Gen Z and millennial Spotify users said that they discovered more content that they like than ever before.11 They turned to podcasts, in particular, with the number of distinct podcast users aged 15-44 on Spotify growing by +34% YoY - largely in part to an influx of audience segments like Moms, Dads, and New Parents. <h2 style="line-height:1.38;margin-top:0pt;margin-bottom:4pt;">5. Spotify helped listeners get into the groove</h2>There’s no denying it: 2021 was a roller-coaster year, and sound was a powerful tool for creating the right vibe for the moment. Top Playlists on Spotify covered a wide range of moods, with relaxing (Deep Sleep, Peaceful Piano), energetic (Mood Booster, Top Hits), nostalgic (All Out 80), and vibey (lo-fi beats, Soft Pop Hits) playlists all rounding out the Top 20 most-streamed playlists on Spotify in 2021.14 To work with Spotify and leverage more such insights and trends, reach out to us at <a href="mailto:spotify-advertising-india@spotify.com">spotify-advertising-india@spotify.com</a>. <h4 style="line-height:1.38;margin-top:0pt;margin-bottom:0pt;">Explore all of the 5 trends uncovered in Spotify Wrapped for Advertisers by <a href="https://liveshareeast3.seismic.com/i/5zKKuoQjpM579PJOr5oxJ5ea7PLUSSIGNVPnzelwrXmlXPLUSSIGNwOqW2FsPLUSSIGNAAxPLUSSIGN7DTL95tPLUSSIGNWFe2AlpJNoADxzSFseV1f13xwe______VlKolYAj___TPLUSSIGNNUIbyZFtPHTJDdeTHvzCoPHJMYHo7t">downloading the guide here.</a></h4> Disclaimer: This is a sponsored post in partnership with Spotify. Sources: ¹Spotify Culture Next Global Survey, among 9,000 respondents 15-40, Apr’21 ²Spotify x IPG, Digital Audio Expansiveness,’21 ³Spotify First Party Global Data, Jan-Oct’21 vs. Jan-Oct’20 ⁴Spotify First Party Global Data, Jan-Oct’21 vs. Jan-Oct’20 ⁵Spotify Culture Next Global survey, among 9,000 respondents, 15-40, Apr’21 6Spotify First Party Data, India, Jan-Oct’21 vs. Jan-Oct’20 7Spotify First Party Data, India, Jan-Oct’21 vs. Jan-Oct’20 8Spotify Culture Next Global Survey, among 9,000 respondents, 15-40, Apr’21 9Spotify First Party Global Data, Jan-Oct’21 10Spotify First Party Global Data, Jan-Oct’21 vs. Jan-Oct’20 11Spotify First Party Global Data, Jan-Oct’21 vs. Jan-Oct’20 12Spotify Culture Next Global Survey, among 9,000 respondents, 15-40, Apr’21 13Spotify First Party Global Data, Jan-Oct’21 14Spotify First Party Global Data, Jan-Oct’21 vs. Jan-Oct’20 SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-backed-grofers-rebrands-to-blinkit-as-focus-shifts-to-10-minutes-delivery/articleshow/88251384.cms">Grofers puts on a new name, Blinkit, to show how the focus of its business is changing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a>

New parents, GenZ and millennials turned to Spotify in 2021, as they strived to shorten distances, get away from the screen and get into the groove

The Chief Ministers' panel on digital payments has asked government to roll out from December 25 a more user friendly version of USSD or *99#, which is used on feature mobile phones for making cashless payments as cash crunch due to demonetisation continues, as per an agency news report. 
 
"Upgraded version of USSD (Unstructured Supplementary Service Data) should be rolled out by December 25, 2016," suggested the panel on adoption of digital payments in its recommendation submitted to the Finance Ministry. 
 
According to an official statement today, the panel, whose convener is Andhra Pradesh Chief Minister Chandrababu Naidu, has suggested that the procedure for simplified Know Your Customer (KYC) using Aadhaar needs to be adopted. 
 
The second meeting of the committee was held on Friday at NITI Aayog. 
 
The meeting followed the deliberations held by Naidu, Vice Chairman of NITI Aayog Arvind Panagariya with the Governor and senior management of RBI and CMDs of major private and public sector banks on Thursday in Mumbai. 
 
The Maharashtra government informed the meeting that it was introducing an Aadhaar Bill in the legislative assembly to give legal status to the use of Aadhaar number for various purposes. 
 
It also informed that it had launched a major campaign to promote digital transactions. 
 
Madhya Pradesh reported that it had initiated a major programme to digitise the transactions in state-owned mundies. 
 
Odisha pointed out that the state was deficient in financial infrastructure including bank branches, bank correspondent, Internpenetration and mobile phones. 
 
While noting that RBI and banks are largely supportive of the measures to promote digital transactions, the panel suggested steps including easing the digital payment operations at the level of merchant. 
 
It said that UIDAI would shortly roll out the common Android-based Aadhaar Enabled Payment System (AEPS) application developed in collaboration with TCS that can be downloaded by the merchants. 
 
In order to use this application for carrying out cashless transactions, merchants will need a smartphone and a fingerprint scanner. 
 
Transactions on this application can be done without any card or PIN. The application would be made available to all banks and the banks would encourage merchants in their vicinity to adopt this application, it said. 
 
The panel suggested that RBI should allow authentication through iris scanner and One Time Password (OTP) for AEPS and there should be no charge on AEPS transactions.

​ Chief Ministers' panel demands more user friendly version of cashless transactions

Since <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=digital+payments&amp;sortorder=effectivedate">digital payments</a> have surged as more and more Indians are paying through online methods and <keyword id="6358031" type="UNKNOWN" weightage="20" keywordseo="digital-wallets">digital wallets</keyword>. 
 However, whenever we talk about online transactions, we cannot ignore <keyword id="137092" type="UNKNOWN" weightage="20" keywordseo="cyber-security">cyber security</keyword> and cyber crimes. 
 
Worldwide, there have been many cases of cyber crimes where hackers invaded security and made transactions. 
 From the Indian context, <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="Digital-Payments">digital payments</keyword> are also prone to such risks. A study conducted by the Centre for Software and IT Management (CSITM) at <keyword id="421693" type="ORGANIZATION" weightage="20" keywordseo="Indian-Institute-of-Management-Bangalore">Indian Institute of Management Bangalore</keyword> focuses on the risks associated with Indian mobile phone based payment systems. 
 
The <a href="http://www.iimb.ernet.in/sites/default/files/iimb-csitm-security-issues-in-mobile-payment.pdf">study</a> found out many popular apps such as <a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate">Paytm</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=freecharge&amp;sortorder=effectivedate">Freecharge</a>, <keyword id="1461878" type="PERSON" weightage="20" keywordseo="Bhim">BHIM</keyword>, etc were not secure. 
 The experiments were conducted with five popular mobile payment systems, in four broad categories – wallets (<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">PayTM</keyword>, <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">FreeCharge</keyword>), direct link with user’s bank (BHIM), specific bank’s app for account holders (iMobile by ICICI Bank), and basic USSD service (dialing *99#). 
 
Prof. Rahul De, Chairperson, CSITM, and faculty in the Decision Sciences and Information Systems area at IIM Bangalore said the study found serious privacy concerns with all the services studied. For instance, while in many apps like Freecharge, the wallets are not directly linked to third party vendors (such as Uber or BigBasket), apps such as PayTM allow for automatic linkage with the vendors, and the vendors can automatically deduct amounts without the explicit consent of the user. 
 
As per the study, a recurring security concern was that many of the apps such as Paytm, Freecharge do not automatically log the users out, and anyone having access to the phone can make financial transactions through these apps. 
 
This risk is highest if the user loses or misplaces her/his mobile phone, and higher still if the phone is unlocked or unprotected. However, apps such as iMobile, BHIM have auto-logout/ session time-out features. 
 
“We also observed inadequate management of the transactions and no evidence of systematic analysis of transaction patterns. The lack of these features is a potential security violation. However, even while we were conducting the study, we observed that the features of the apps and services were constantly evolving and changing,” said Prof De.

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