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<ul><li>The Reserve Bank of <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> (RBI) today said that it will soon start a pilot project to enable easier access to coins.</li><li>The RBI is looking at coin dispensing vending machines that work with UPI.</li></ul>While it’s quite easy to withdraw money in India, coins and ‘change’ remain challenging. On Wednesday, Reserve Bank of India (RBI) governor Shaktikanta Das said they intend to make it easy. Das said that RBI would soon start a pilot project to test QR Code-based <keyword id="398164" type="General" weightage="20" keywordseo="coin-vending-machines" source="Orion">coin vending machines</keyword> (QCVM) in the country. Instead of inputting a currency note, users can use UPI to get coins. The coin vending machines will be tested in 12 cities across the country as part of the project. Based on the learnings of the pilot, the central bank will issue guidelines to banks to promote the distribution of coins using these machines. Coin vending machines are not a new concept in India. While there are many such machines, they require consumers to input a cash note. Soiled notes and the lack of exact denominations required by the vending machine have become another challenge for users. While many new-age food vending machines across the country allow UPI to access various products, a coin vending machine would be a new addition. As this turns into a reality, cold drinks, and candies won’t be the only things one can get from vending machines. These machines will make it easier for people to access coins without having to wait in line at the banks – which is the only official way to bring change. The central bank has embarked on many digital <a href="https://www.businessinsider.in/finance/news/cbdc-trial-a-landmark-moment-in-the-history-of-money-shaktikanta-das/articleshow/95250548.cms">pilot projects</a> in the last few months. The most prominent of them is that of <a href="https://www.businessinsider.in/finance/news/what-is-digital-rupee-and-how-to-use-it/slidelist/95906083.cms">eRupee</a>, India’s digital currency. The pilot is currently limited to SBI, ICICI Bank, IDFC First Bank, and Yes Bank. The digital payment method complementing UPI will make it easier for customers to send money to vendors and lower transaction costs. These rupees can also be exchanged for physical money, and eRupees will be in the same denominations as physical money. The RBI also said on Wednesday that the government would soon allow inbound travelers to use UPI to make payments easier. Initially, the facility will be available to travelers from G20 countries arriving at select international airports. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/after-chinese-apps-the-indian-government-cracks-down-on-indian-betting-and-quick-loan-appsheres-why/articleshow/97690062.cms">After Chinese apps, the Indian government cracks down on Indian betting and quick loan apps—here’s why</a> <a href="https://www.businessinsider.in/business/news/swiggy-cracks-down-on-password-sharing-allows-users-to-use-same-account-on-only-two-devices/articleshow/97548345.cms">Swiggy cracks down on password sharing, allows users to use same account on only two devices</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-s23-plus-and-s23-ultra-price-availability-india/articleshow/97544314.cms">Samsung Galaxy S23, S23 Plus, and S23 Ultra priced starting at ₹74,999 in India</a>

Cold drinks, candy & now 'change': India to test coin vending machines that use UPI

<ul><li>92-year-old <keyword id="1860467" type="General" weightage="20" keywordseo="Lachman-Das-Mittal" source="Orion">Lachman Das Mittal</keyword> is <keyword id="3658" type="General" weightage="20" keywordseo="India" source="Orion">India</keyword>’s oldest billionaire with a net worth of $2.5 billion as per Forbes. </li><li>Mittal is the founder and chairman of <keyword id="813" type="General" weightage="80" keywordseo="sonalika" source="Orion">Sonalika</keyword> Group, India's third-largest tractor maker by market share and India’s largest tractor export brand. </li><li>The billionaire is a former LIC employee who holds a master’s degree in arts in English and Urdu languages.</li></ul>The founder of Sonalika Group, 92-year-old Lachman Das Mittal is now India’s oldest billionaire. As per the Forbes 2023 list, 99-year-old <a href="https://www.businessinsider.in/thelife/personalities/news/the-life-and-times-of-keshub-mahindra-indias-oldest-billionaire/slidelist/99428483.cms">Keshub</a> Mahindra, the former chairman of Mahindra &amp; Mahindra group was the oldest billionaire. Unfortunately, Mahindra passed away on April 12. India now has four nonagenarians among the country’s 169 billionaires, as per the list. Mittal is the founder chairman of Sonalika Group, India's third-largest tractor maker by market share. As per <a href="https://www.forbes.com/profile/lachhman-das-mittal/?list=billionaires&amp;sh=3708547e32d5">Forbes</a>, he has a net worth of $2.5 billion. He first entered the Forbes Billionaire list in 2013. <cmsannotation type="cmsannotation" annotationid="After his retirement…" comment="subhead2" text="After his retirement…">After his retirement…</cmsannotation> The 92-year-old started his business a little over three decades ago at the age of 60, after retiring from the state-owned Life Insurance Corporation (LIC) as a deputy zonal manager. The billionaire shows up to the office every day, even after his sons and grandsons look over the company’s operations. “We are not just sitting in some air-conditioned room and running the business…I and my boys know every inch of a tractor,” <a href="https://www.forbesindia.com/article/india-rich-list-2015/lachhman-das-mittal-tractor-master/41355/1">shared </a>the patriarch with Forbes. Born in August 1931 in Hoshiarpur, Mittal’s professional journey started as a LIC agent. After obtaining a Master’s in Arts degree in English and Urdu language from Punjab University, Mittal started working with LIC in 1955. Mittal, who obtained a gold medal during his post-graduation, was diligent at work, gaining knowledge about the different types of investments. Gradually, he started saving to pay off past debts and for securing his future. Though he wasn’t born with money, he managed to save enough to start a side venture in 1969 — building farm machinery under the name Sonalika. Unfortunately, the venture left him bankrupt. In an attempt to offset his losses, he tried to obtain a Maruti dealership but was rejected. <cmsannotation type="cmsannotation" annotationid="Poetry on wheels" comment="subhead2" text="Poetry on wheels">Poetry on wheels</cmsannotation> Undeterred, he forged on. Inspired by Japanese machines that separated hay and wheat, he built threshers, gaining <a href="https://www.news18.com/business/meet-lachhman-das-mittal-who-launched-sonalika-group-at-the-age-of-60-7510003.html">nationwide acclaim </a>for his product in just eight years. After <a href="https://www.forbesindia.com/article/india-rich-list-2015/lachhman-das-mittal-tractor-master/41355/1">retiring from his job in 1990</a>, he spent years writing and reading poetry in classical Urdu and working on Sonalika to build a tractor. The idea to build tractors actually came to him through his customers, who were eager to see a tractor from Sonalika. To carry out the requisite research and study to launch tractors, Mittal needed financing. Consequently, he secured a loan of ₹22 crore from his trusted dealers. Six years after he retired, in 1996, Sonalika Tractors was incorporated. Today, it’s the country’s largest exporter of tractors, associated with more than 14 lakh customers across 140 countries around the world. Mittal, who’s a fan of Bollywood movies and a coin collector, said while recounting his journey with Business Standard, "Once I applied for a dealership of Maruti Udyog but was rejected. Today, I give out dealerships." <cmsannotation type="cmsannotation" annotationid="Building his pot of gold" comment="subhead2" text="Building his pot of gold">Building his pot of gold</cmsannotation> Sonalika, which means ‘lines of gold’ in Hindi, is named after a popular line of wheat seeds that fuelled the Green Revolution in India, leading to greater production. The Sonalika Tractors were definitely Mittal’s pot of gold. Japanese firm Yanmar has a 30% stake in Sonalika Tractors. Today, the brand has an employee strength of over 10,000 and was <a href="https://www.sonalika.com/about-us.html">chosen </a>by the Indian government to contribute towards the Niti-Aayog project to double the farmer’s income in the country. Sonalika has been clocking over 1 lakh tractor sales consistently for six years (FY18 – FY23). It also recorded the highest annual growth of 41.6% in the domestic market during the pandemic (FY21) — significantly higher than the overall industry growth of 26.7%. The company has five manufacturing facilities across the globe, including the <a href="https://www.youtube.com/watch?v=rX-tPTIwVok&amp;ab_channel=ETAuto">world’s largest tractor-manufacturing facility </a>at Hoshiarpur in Punjab. Mittal’s elder son Amrit Sagar is the company’s vice-chairman, while his third son, Deepak is the managing director. Mittal’s second son is a doctor in New York. Interestingly, his daughter, Usha Sangawan, is LIC’s first female managing director. SEE ALSO:

India’s oldest billionaire started his business after retiring from LIC

<ul><li>It seems that Indians are losing interest in using <keyword id="6403406" type="UNKNOWN" weightage="20" keywordseo="coins">coins</keyword> - not only because of their weight but also the move towards cashless transactions. </li><li>Amid an oversupply of coins, <keyword id="6388684" type="UNKNOWN" weightage="20" keywordseo="storage">storage</keyword> costs are getting unfeasible as the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> is running out of space to keep them. </li><li>As a result, the RBI is looking to outsource the distribution of coins to a private player and even export base coins to countries like Brazil and Sri Lanka. </li></ul>It seems that Indians are losing interest in using coins - not only because of their weight but also the move towards cashless transactions - leaving the Reserve Bank of India with a significant storage and distribution problem. Banks around the country are also reluctant <a href="https://www.hindustantimes.com/india-news/coin-problem-hits-depositors-in-several-states/story-gbFII8zmCg1QK5BipvNdrN.html">to accept coins</a> owing to the fact that they have to allocate personnel to count them, as opposed to money counting machines for notes. India’s central bank reportedly has more coins than it knows what to do with - around 9 billion coins as of late 2018 - according to the <a href="https://indianexpress.com/article/business/banking-and-finance/to-end-the-glut-of-coins-govt-mulls-privatisation-of-distribution-exports-5674569/">Indian Express,</a> and storage costs are getting unfeasible as the RBI is running out of space to keep them. Interestingly, the available space for coins fell significantly as the RBI started accumulating <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/coin-production-hit-by-storage-problem-as-demonetised-notes-fill-rbi-vaults/articleshow/62452740.cms?from=mdr">demonetised notes</a>. As a result of the storage crunch, the RBI is looking to outsource the distribution of coins to a private player and even export base coins to countries like Brazil and Sri Lanka. As far as <keyword id="6369532" type="UNKNOWN" weightage="20" keywordseo="Privatisation">privatisation</keyword> of distribution goes, the government is reportedly assessing ways to increase the usage of coins in India and companies that can make the transportation and distribution of coins more cost-efficient. The central bank is also dramatically reducing the number of coins it orders from the Security Printing &amp; Minting Corporation of India Ltd (SPMCIL), a state-owned mint. It has only ordered 3.4 billion coins, which is reportedly <a href="https://indianexpress.com/article/business/banking-and-finance/to-end-the-glut-of-coins-govt-mulls-privatisation-of-distribution-exports-5674569/">a third </a>of the SPMCIL’s production capacity. Somewhat contradictorily, last month the government announced the introduction <a href="https://timesofindia.indiatimes.com/business/india-business/government-announces-new-rs-20-coin-things-to-know/articleshow/68298122.cms">of a ₹20 coin</a>, a full ten years after the ₹10 coin was released. The 12-edged coin will likely be expensive to produce. While the RBI has traditionally encouraged the use of coins instead of small-value bank notes owing to the durability of coins, it’s reduced order from SPMCIL shows that it is changing with the times. SEE ALSO: <a href="https://www.businessinsider.in/heres-why-the-rbi-bought-gold-for-the-first-time-since-2009/articleshow/65669182.cms">Here’s why the RBI bought gold for the first time since 2009</a> <a href="https://www.businessinsider.in/indias-central-bank-just-gave-the-countrys-small-businesses-a-one-time-breather-from-some-of-their-bad-loans-but-with-a-few-conditions/articleshow/67346902.cms">India’s central bank just gave the country’s small businesses a one-time breather from some of their bad loans — but with a few conditions</a>

The RBI has a coin distribution problem - and it might be thinking about outsourcing the job to someone else

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<keyword id="12685643" type="General" weightage="20" keywordseo="is-crypto-legal-in-india" source="Orion">Is crypto legal in India</keyword>? Is it illegal? Is it in a grey area? Cryptocurrencies might be popular in India, but even the most learned of us are often unclear about these three questions. If we were to buy a bunch of cryptocurrency on an exchange in India, would we be breaking the law? How will the income from that trade be taxed? <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> So far, the legality of cryptocurrencies in India have been more or less grey. The country actually has a burgeoning blockchain market that dates back at least five years. However, the legal tussles over cryptocurrencies began in 2018. It has so far involved billion dollar companies, government officials and ministers, courts, and of course, crores of investors. <ol><li>Is ‘all’ crypto activity banned in India? Let’s get one thing straight, cryptocurrencies are not banned in India. Actually, they have never ever been banned in India. The confusion behind this comes from a couple of moves by the Reserve Bank of India (RBI) in 2018. It all started with an official directive the RBI issued to banks and financial institutions. Within the notification, the central bank told these institutions to stop doing business with cryptocurrency exchanges — note, RBI’s ruling applies to banks and institutions, it said nothing about people owning cryptos.The ruling was struck down in 2020 by the Supreme Court, which actually began the onslaught of crypto exchanges in India. But just as things were looking up, in May this year, the RBI sent an informal note to banks asking them to be wary of crypto exchanges.Which, in turn, led banks to withdraw services from crypto exchanges overnight, and platforms had to stop taking deposits in Indian Rupee temporarily. Things were resolved in less than a month, but some banks remain wary and do not allow people to deposit money in crypto exchanges.</li><li><keyword id="12685645" type="General" weightage="20" keywordseo="is-crypto-trading-legal-in-india" source="Orion">Is crypto trading legal in India</keyword>? It’s easy to jot down trading of crypto to be a legal grey area, but experts will actually tell you that there’s no law in the country that bans cryptos or says that trading such digital assets is illegal. Currently, the government is working on a bill that will regulate crypto trading, and it will bring rules on how cryptocurrency exchanges like WazirX are supposed to operate in the country, how income from such currencies will be taxed and other aspects.Even the RBI hasn’t said cryptos are illegal, though the bank has concerns. "When the RBI, after due internal deliberation, says that there are serious concerns on macro economic and financial stability, there are deeper issues, which need much deeper discussions and much more well informed discussions," RBI Governor Shaktikanta Das said at an event recently.</li><li><keyword id="12685644" type="General" weightage="20" keywordseo="is-crypto-mining-legal-in-india" source="Orion">Is crypto mining legal in India</keyword>? Printing a note is illegal, because only the government of a country is allowed to print legal tender. Cryptocurrencies, on the other hand, aren’t legal tender, which is why one can mine for them — however, it is unregulated at the moment.Unlike China, India hasn’t created any regulation that bans people from mining cryptocurrency. In fact, given that public cryptos are mined using your own computing equipment, it doesn’t interfere with any laws at the moment.</li><li><keyword id="12685642" type="General" weightage="20" keywordseo="is-bitcoin-legal-in-india" source="Orion">Is Bitcoin legal in India</keyword>? If you’re asking whether Bitcoin is “legal tender” in India, the answer to that is no. Which means that you cannot use Bitcoin to buy things in place of the Indian Rupee. The government doesn’t recognize the asset as legal tender, much like the rules in the US, UK and most other countries worldwide.Someone asked this very question of the Finance Minister, Nirmala Sitharaman, at the Parliament earlier this week. To which, she replied, “No, sir”, informing the floor that there is no proposal for recognising Bitcoin as legal tender.</li><li>Do you have to pay taxes on crypto in India? You have to pay tax on any kind of income of profit in India, and income from trading in crypto assets is no different.At the moment, there is no specific guidance in the Income Tax Act for taxing income from crypto trading. However, many experts recommend that profits from cryptos should be reported in the income tax return (ITR) as capital gains.“The income earned by crypto exchanges and other crypto service providing platforms is liable to tax under the head Business or Profession under Chapter-IV of the Income-tax Act, 1961. Applicability of tax rate will depend on status and category of taxpayer,” Sitharaman explained during the ongoing session of Parliament on November 30.</li><li>Is blockchain technology legal in India? Absolutely. Blockchain technology is as legal as artificial intelligence (AI), machine learning (ML) or any other form of emerging technology. In fact, the Andhra Pradesh government had built a blockchain-based platform for managing land records two years ago, while the RBI is working on a central bank digital currency (CBDC) that will also be based on blockchain technology. The Maharashtra government has also been evaluating the use of blockchains for e-governance, while car-maker MG Motors has built a blockchain platform for the Digital Passport feature of the MG Astor.</li><li>How is blockchain technology different from cryptocurrencies? Blockchains are actually the underlying platforms that are powered by cryptocurrencies. In essence, a blockchain is just a database that is immutable and extremely secure. Meanwhile, the records of cryptocurrency transactions, or other forms of transactions and records are maintained on blockchains.</li><li>Would a ban on cryptocurrency hamper blockchain technology in India? To a certain extent, yes. In order for developers to build applications on a blockchain, they need to pay transaction fees. And these transaction fees, or ‘gas fees’ need to be paid in the respective token of that blockchain. For instance, if someone is building on the Ethereum blockchain, their transactions would be validated using Ether and on the Cardano blockchain, it would be the ADA token.Banning an entire cryptocurrency, or payments in a particular cryptocurrency, would mean not being able to build on the platform as well — at least not from within the Indian banking sector.</li><li>Is India working on its own CBDC? As mentioned before, the RBI is working on a CBDC that will be based on a private blockchain platform. While being a public good, its governance will be in the hands of a centralised entity — the central bank.In fact, the listing of the <keyword id="10822352" type="General" weightage="20" keywordseo="crypto-bill" source="Orion">crypto bill</keyword> in the Parliament’s agenda for the winter session, which sparked rumours of a ban again, also mentioned that the bill would lay the framework for a CBDC in the country.The RBI is still formulating how such a platform will work, and it’s likely going to be absolutely different from cryptocurrencies. RBI will have full control over the platform and for consumers, it will be no different from using digital payments right now.</li><li>What do we know about India’s crypto bill so far? The crypto bill is unlikely to ban cryptocurrencies but regulate them. According to a report by NDTV, India’s crypto exchanges will come under the umbrella of the Securities and Exchange Board of India (SEBI). Citizens of India will be required to keep their cryptocurrencies with Indian exchanges only — the proposed laws reportedly disallow people from keeping their investment on global exchanges or in private wallets. Once the bill is approved, people will get a certain amount of time to shift their funds after which, they could be penalised within the range of ₹5 crore to ₹20 crore. According to Sitharaman, the government is closely monitoring the risks that cryptocurrencies present. Likely for that reason, India plans to amend its Prevention of Money Laundering Act (PMLA) to make provisions for cryptocurrency activity. Even Prime Minister Narendra Modi highlighted the volatile nature of digital tokens in November, calling on global cooperation from democratic nations to regulate the sector and protect the youth. </li></ol>Disclaimer: This is a sponsored post in partnership with WazirX. Do your own research (DYOR) before deciding to invest in any asset, cryptocurrency or otherwise. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/facebook-and-microsoft-arent-the-only-ones-creating-a-metaverse-here-are-five-popular-coins-looking-to-create-digital-worlds/articleshow/87931051.cms">Facebook and Microsoft aren’t the only ones creating a metaverse — here are five popular coins looking to create digital worlds</a> <a href="https://www.businessinsider.in/cryptocurrency/news/what-is-bitcoin-golden-cross-and-death-cross/articleshow/87796591.cms">Bitcoin investors love the golden cross and death cross — here’s why they matter but there are other factors to keep in mind</a>

Crypto FAQs answered — everything you need to know about crypto regulations, trading, taxes and CBDC in India

<ul><li>Dyson recently launched its most advanced vacuum cleaner V15 Detect, in India.</li><li>It is priced at ₹62,900, which makes it an expensive piece of tech, but it's also one of a kind.</li><li>It's a good investment, but you must be sure of your cleaning requirement as it has some caveats. Is it for you? Read the full review to find out.</li></ul>Dyson has launched another high-tech and high-priced vacuum cleaner in India. The latest machine is called <keyword id="14550029" type="General" weightage="20" keywordseo="dyson-v15" source="Orion">Dyson V15</keyword> Detect and is touted as the most powerful and intelligent cordless vacuum cleaner to date; it better be as it's priced at a whopping ₹62,900, which makes it one of the most expensive cordless vacuum cleaners in the country. The vacuum cleaner is the most popular product from the company for its visually distinctive design, and it's been among the favorites of many ever since it debuted in India. Having used the previous models of the machine, I can say the functionality is also as good as the design. Although, I am not sure of its durability in Indian homes as I've never used them for more than a month or two. <div type="image" title="Dyson V15 1" msid="93143385" hostid="261" sizebytes="277760" caption="&amp;lt;p&amp;gt;The Dyson V15 Detect still looks the same, but doesn&amp;#39;t feel old.&amp;lt;/p&amp;gt;"></div>The V15 Detect has been with me for around a month, and so far, it's been a great experience using it. It is said to have 1.5 times more suction and 54% more bin capacity than the Dyson V12 Detect Slim. This means the suction is more powerful and can now store more debris in the bin. Why is the price so high? The price is not surprising for those aware of Dyson's products. As per the company, they usually carry a premium price tag for their design, service, and innovative technology. In addition, it has some great-sounding tech built inside, like a laser on the cleaning head to highlight microscopic dust particles, a sensor to track evidence of cleaning by gauging particle data, self-adjusting suction intensity, and a digital motor apart. All this in a good-looking cordless vacuum experience without compromising suction power. So I decided to test all of these features and see whether it does what it promises, and if yes, is it worth the premium? Design and build: Same futuristic laser blaster design <div type="image" title="Dyson V15 2" msid="93143451" hostid="261" sizebytes="190122" caption="&amp;lt;p&amp;gt;The bin on the V15 Detect is larger than its predecessor.&amp;lt;/p&amp;gt;"></div>As I mentioned, the design is similar to the V11 Absolute Pro, with a slightly larger 0.75-liter bin and handheld unit weighing 3.1kg. Unfortunately, the weight takes away the ease of use; although I didn't have an issue, someone like my 55-year-old mother would not be able to run it for a long stretch. <div type="image" title="Dyson V15 Detect" height="900" width="1200" msid="93143692" hostid="261" sizebytes="2066023"></div>The increased weight is also because it has got some significant upgrades on the inside over its predecessor. The most prominent one is the 230W motor which is more powerful than the V11. Further, an acoustic piezo sensor tells the amount and type of dust particles it picks on an LCD and the remaining battery run time. I couldn't verify the particle data, but the battery stats are reliable so far. The particle stats essentially tell how dirty the floor is before and after cleaning. <div type="image" title="Dyson V15" msid="93143588" hostid="261" sizebytes="1669657" caption="&amp;lt;p&amp;gt;The click and attach mechanism for attachments is still the same as seen on V11 range.&amp;lt;/p&amp;gt;"></div>The attachment mechanism remains the same. It has a simple click of a button to detach and insert to attach extensions and attachments. I really like this element of the Dyson design. Removing or adding parts to their products is a very satisfying experience and can quickly be done by anyone as it doesn't ask for added power or precision. That said, I faced some issues while opening the bin flap of its predecessor, which seems to be fixed on this one and is no longer flimsy. Although, it's still the exact push-to-eject mechanism as before. <div type="image" title="Dyson V15 5" msid="93143776" hostid="261" sizebytes="1530850" caption="&amp;lt;p&amp;gt;The dust sticks to the bin&amp;#39;s surface, which is why regular cleaning is a must.&amp;lt;/p&amp;gt;"></div>The quality of the material is consistent across the vacuum and its attachments. It also has a detachable battery. That means you can invest in a spare battery and double the output. I miss a design feature on this machine: a lock switch for the power trigger. Right now, I must keep one finger on the button while using it. While not having a lock may avoid accidents, it's also tiring for some. So much so that I felt the need for it in just 15 minutes of cleaning. That's also because it's heavy. I'll have no discomfort putting one finger busy for long if this was a lighter machine. Attachments: Made to reach anywhere but not to scratch hard stains Unboxing Dyson's products is an inviting process, and repackaging them is a nightmare. Anyhow, it comes neatly packed in a box that has eight attachments. <div type="image" title="Dyson V15 5" msid="93143945" hostid="261" sizebytes="80914" caption="&amp;lt;p&amp;gt;Dyson V15 Detect&amp;#39;s packaing is neat.&amp;lt;/p&amp;gt;"></div>There are two main cleaning heads of all. The first is the Laser Slim Fluffy cleaner head with a soft brush bar meant to clean hard floors without damaging them. Note that this is the only one with the green laser and the one I used the most at my home, where there's a mix of marble and tile flooring. The laser projects a green beam in front of the cleaning head, exposing the microscopic dust particles on the floor. This particular feature is an addition to those obsessed with cleaning. I had a similar individual at my home, and trust me, they did not let the vacuum cleaner rest unless it died. Despite getting the floor cleaned with conventional 'jhadu and pochha' (broom and mop) in the afternoon, this laser showed a floor full of fine dust after a few hours. What's better is that you can clean floors even in the dark. Imagine someone with a habit of compulsive cleaning having this at home - they're going to have one arm more muscular than the other. Jokes aside, this feature not just wants you to clean more but also shows how dirty the floors are even when not visible to the naked eye. <div type="image" title="Dyson V15 6" msid="93144434" hostid="261" sizebytes="1757057" caption="&amp;lt;p&amp;gt;The fluffy laser cleaner head is very effective on hard floor.&amp;lt;/p&amp;gt;"></div>The other cleaning head is the High-Torque, which is noisier and more powerful against bigger particles, hair, and rigid surfaces. It also has a layer of polycarbonate teeth which also scratches and collects soiled dust. A miniature version of this cleaning head, the Hair Screw Tool, is designed for smaller tasks that the High-Torque can't reach. But I noticed a few scratches on its bottom after cleaning my wooden cupboard, which is a letdown. <div type="image" title="Dyson V15 7" msid="93144459" hostid="261" sizebytes="1298159" caption="&amp;lt;p&amp;gt;In a weird incident, the Hair Screw Tool got scratched after I used it on wood.&amp;lt;/p&amp;gt;"></div>Both the cleaning heads are movable, so you don't have to lift and change the cleaning path. Instead, you can tilt it to either side to turn the head in different directions. In addition, it comes with four more attachments that allow it to reach tight spaces like gaps between sofas, keyboards, cars, under the bed, and similar. <div type="image" title="Dyson V15 Detect comes with seven attachments, each for different purposes." msid="93144498" hostid="261" sizebytes="90400"></div>Lastly, you get a wall mount to make a stand for the machine and a storage clip that lets you attach two accessories to the extension tube’s barrel. <div type="image" title="Dyson V15 8" msid="93144559" hostid="261" sizebytes="1974179" caption="&amp;lt;p&amp;gt;You get a storage clip that lets you attach two accessories to the extension tube’s barrel.&amp;lt;/p&amp;gt;"></div>These attachments cover most of the cleaning needs. But it can't mop, and that's a need in typical Indian households. It also fails to remove dry stains on the floor. So be clear that this tool can remove dust from every corner of your house but not wipe the floor. Maintenance: Easy to keep clean and working The Dyson V15 Detect doesn't really need a lot of maintenance, but there are a few things you need to clean periodically. Dirt compartment- It is easy to clean; you just have to empty it and then wash it once in a while so that it doesn't collect debris in the corners. You might need to use a brush or a cloth to clean it. Laser Slim Fluffy cleaner head roll- It comes with a soft brush roll made of a material that will need regular cold water. The laser sensor will also need cleaning if you use it regularly. High Torque brush roll- You can detach the brush rolls by removing the side cover using a coin. Then slide out the brush roll to clear debris or hair without damaging the bristles. HEPA filter- The HEPA filter is found on the top of the handheld unit, right below the LCD. It can be removed by twisting the purple head anti-clockwise. Like the fluffy brush roll, this must be washed under cold water when the machine indicates it. Make sure to put it back after drying it, and it's fixed properly. Performance: It sucks so well that it blows away every other cordless alternative This is where the Dyson V15 Detect shuts down the alternates and wins even at a higher price. After using it, I can confidently say that its only competition in terms of performance is a Dyson vacuum cleaner. The Indian market is still short of its alternatives; an advantage Dyson is leveraging. I shifted to a new house in the first week of July, and guess who did most of the cleaning? This machine. I got a chance to use it on hard floors, small carpets, sofas, mattresses, car, and cupboards, and I'm pretty impressed with how quickly and easily it cleans all types of places and surfaces. The cleaning heads do a brilliant job. Especially the laser head is great at picking up microscopic dust. Pass it through the floor once, and it's all gone. Check the image below. <div type="image" title="Dyson V15 9" msid="93144617" hostid="261" sizebytes="1558591" caption="&amp;lt;p&amp;gt;Vacuumed area vs normal floor condition hidden from human eye. &amp;lt;/p&amp;gt;"></div>Even the intensity of suction changing with the floor and dust type is impressively accurate. You get to feel the heaviness and release while sweeping through the floor. Overall, it is the best vacuum cleaner for cleaning efficiency and ease. But as I mentioned, it doesn't mop, and it doesn't scrub stains off the surfaces. Charging and battery life The first bummer after paying almost ₹63K for a vacuum cleaner is that it takes five hours to charge from 0-100%. That's a common issue with cordless vacuum cleaners. And with all that suction power, it only cleans for an hour in the best possible case. Put it on a thick carpet, which will come down to 40 minutes on 'Eco' mode. <div type="image" title="Dyson V15 10" msid="93144682" hostid="261" sizebytes="1582781" caption="&amp;lt;p&amp;gt;LCD displays the suction modes. Auto is best for most requirements.&amp;lt;/p&amp;gt;"></div>It has three modes- Eco, Auto, and Boost. Eco mode is the most power efficient and provides light suction, which is suitable for tile and marble floors. Auto mode adjusts the suction power as needed to give you a balance of cleaning and battery efficiency. And Boost mode uses the full force of the machine and offers lesser battery backup. With a mixed-use on a marble floor, mattresses, and others, I got around 43 minutes in Eco mode, 19 minutes in Auto mode, and 11 minutes in Boost mode. If you have a big house requiring over an hour of cleaning, buying an additional battery is best. Should you buy it? The high price of this vacuum cleaner strikes off a large chunk of the customer base for a market like India. However, that doesn't take away the utility of this machine and makes it a superb vacuum cleaner for those who want to make cleaning easy and need one solution for most cleaning needs. Its powerful suction and ability to detect and remove microscopic dust are unmatched. Additionally, pet owners will find this extremely useful to pull their hair from carpets, sofas, and other surfaces. Don't buy it if you're expecting to mop and if you have a large house, as it dies in under an hour and takes close to five hours to charge. Unless, of course, you are okay with investing in an extra battery. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/rapido-ceo-unicorn-india-invest-in-windo-that-is-helping-small-businesses-take-their-business-online/articleshow/93139058.cms">Rapido CEO, Unicorn India Ventures invest in social commerce startup Windo</a>w <a href="https://www.businessinsider.in/finance/banks/news/unclaimed-deposits-after-10-years-will-be-transferred-to-education-and-awareness-fund-as-per-rbi/articleshow/93137699.cms">RBI wants depositors to act on unclaimed deposits</a>

Dyson V15 Detect review: The best just got better, but at a premium

<ul><li><keyword id="179697" type="COMPANY" weightage="20" keywordseo="Norton">Norton</keyword> is monetising the cryptocurrency boom by letting users mine <keyword id="2810876" type="PERSON" weightage="20" keywordseo="ethereum">Ethereum</keyword> via its antivirus software</li><li>The new feature, called Norton Crypto, will be available only to a small group of customers initially.</li><li>It’ll leverage a pool of many miners who contribute whatever computing power they can offer.</li><li>All accumulated coins will be stored in a cloud-based wallet called Norton Crypto Wallet until you transfer them out.</li></ul>On an average day, antivirus companies want you to stay away from services or products that are too complex, decentralised, or untraceable. Antivirus software is a defence mechanism that protects users from surreptitious viruses, malware, phishing links, and attacks. So, it's natural to assume that cybersecurity companies are now focused on tackling a fresh wave of mining programs that discreetly try to mine coins on a gullible users' machine. However, Norton has a better idea. Instead of constantly fighting off lurking harmful programs, why not create an exceptional application to make it easier and safer for the average Joe to mine <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a>? One of the world's best-known antivirus software makers is adding cryptocurrency mining to its products in a surprise move. <keyword id="896849" type="PERSON" weightage="20" keywordseo="Norton-360">Norton 360</keyword> antivirus will let users mine Ethereum, the world's second most valuable cryptocurrency, on laptops or computers. The new feature, called Norton Crypto, will be available only to a small group of customers starting today, gradually expanding it to all Norton 360 users in the coming months. Although mining <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Ethereum</a> isn't a simple task and requires high-end computing hardware to increase the chances of receiving a coin, Norton is confident pooling will help improve the odds. Screenshots of the software reveal a system that'll leverage a pool of many miners who contribute whatever computing power they can offer. All users will share the reward based on their contribution. <div type="image" title="Norton Crypto" msid="83230844" hostid="261"></div> A Norton spokesperson told <a href="https://www.theverge.com/tldr/2021/6/2/22465862/norton-360-crypto-mining-ethereum-coinbase">The Verge</a> that once cryptocurrency has been earned, it will be possible to "pull money into Coinbase," a crypto exchange based out of the US. All accumulated coins will be stored in a cloud-based wallet called Norton Crypto Wallet until you make the transfer. "For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security to run coin mining and allowing unvetted code on their machines that could be skimming from their earnings or even planting ransomware," Norton said in a statement. However, experts aren't entirely convinced with Norton's grand plans. It's already tough to mine Ethereum, and despite best-in-class GPUs, the returns aren't as attractive as they used to be. The industry is also experiencing a rough patch as countries like China’s <a href="https://www.businessinsider.in/cryptocurrency/news/chinas-inner-mongolia-region-proposed-punishments-for-companies-and-individuals-involved-in-crypto-mining/articleshow/83034373.cms">clamp down on crypto mining</a>. The energy requirement for mining is also a concern, as most of it is generated by harmful fossil fuels. According to <a href="https://www.trgdatacenters.com/most-environment-friendly-cryptocurrencies/">TRG Datacenters</a>, Ethereum is the second most energy-intensive blockchain that requires 62.56 Kilowatt-hour (kWh) power per transaction. In comparison, Ripple (XRP) requires just 0.0079 kWh. Norton did not comment about worries regarding <keyword id="6289215" type="UNKNOWN" weightage="20" keywordseo="Crypto-Mining">crypto mining</keyword> and the environment. It's also worth noting that cryptocurrency earnings are taxable in many countries, including the US. The additional income generated by the easy-to-use software could give you some paperwork nightmares later on. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/gdp-growth-projection-revised-by-rbi-to-9-5-leaves-rates-unchanged/articleshow/83226348.cms">RBI leaves rates unchanged as it lowers GDP growth projection to 9.5%, targets 5.1% inflation</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-app-is-adding-a-new-feature-to-help-you-replace-snapchat-completely/articleshow/83226216.cms">WhatsApp rips off another Snapchat feature — this time Disappearing Mode</a> <a href="https://www.businessinsider.in/tech/apps/news/google-camera-app-is-expected-to-receive-an-update-that-lets-you-capture-the-night-sky-in-motion/articleshow/83228479.cms">Google Camera update might add the ability to capture the night sky in time-lapse</a>

Norton 360 now offers crypto mining — users can mine Ethereum using its antivirus software

<ul><li><keyword id="12512340" type="General" weightage="20" keywordseo="Jaswantiben-Jamnadas-Popat" source="Orion">Jaswantiben Jamnadas Popat</keyword> was conferred the Padma Shri award on Tuesday.</li><li>She is one of the founders of Shri Mahila Griha Udyog Lijjat Papad.</li><li>Jaswantiben began her journey with an investment of ₹80 along with six of her friends.</li></ul>On March 15, 1959, Jaswantiben along with six of her friends met on a terrace in Girgaum, Maharashtra and started making papads, using a sum of ₹80, which were <a href="http://www.lijjat.com/Organisation/TheBeginning.aspx">borrowed</a> from Chhaganlal Karamshi Parekh, a social worker. Today, the brand is called Lijjat Papad, and it has grown to be a ₹1,600 crore business with 81 branches and employs over 45,000 women across the country, all of whom are considered co-owners in the enterprise. Recognising her journey, the Indian government gave the Padma Shri award, the fourth highest civilian award in the country, to the 91-year old entrepreneur. While most people may not recognise her by name, it is unlikely that you are unfamiliar with her product. If you are someone who watched television during the 90s, you will probably remember the popular Lijjat Papad jingle with a hand puppet bunny chomping on crispy papad. <div type="Youtube" id="lSYMX6PmT34" title="Lijjat Papad Commercial - Doordarshan Ad/ Commercial from the 80's &amp; 90's - pOphOrn" thumbUrl="https://i.ytimg.com/vi/lSYMX6PmT34/mqdefault.jpg"></div> <cmsannotation type="cmsannotation" annotationid="A humble beginning" comment="subhead" text="A humble beginning">A humble beginning</cmsannotation> Jaswantiben, who hails from Mumbai’s now affluent Girgaum area, began her journey as an entrepreneur to contribute towards her family’s income. While she did not have any knowledge about running a business, her hard work and courage allowed her to start this venture. She started making papads with Parvatiben Ramdas Thodani, Ujamben Narandas Kundalia, Banuben. N. Tanna, Laguben Amritlal Gokani, Jayaben V. Vithalani, and Chutadben Amish Gawadem. “Making papads does not require education, which is why we started Lijjat,” Jasnatiben says in an <a href="https://www.youtube.com/watch?v=xSz27aGjqog">interview</a>. “Everyone here is a partner and does not work for any other person, which was one of the factors that enabled women to join at the beginning,” she adds. <div type="image" title="Lijjat Papad" msid="87648084" hostid="261" caption="&amp;lt;p&amp;gt;Lijjat Papad&amp;#39;s logo.&amp;lt;/p&amp;gt;"></div> “We do not require anyone to pay money, we do not check their caste or religion or do any background checks while adding a partner, where else will you find such a partnership business,” asks Jaswantiben. The group first made a batch of four packets of papads, which were sold to a businessman. Soon after that, the group increased from seven members to twenty-five and later the group registered as Shri Mahila Griha Udyog Lijjat Papad and in 1962, it was renamed to Lijjat Papad. The papads are sold across the country and even exported to countries like the United States, Singapore, United Kingdom, Thailand and Netherlands among others. Not just papads, now Lijjat also sells masalas, atta, chapati and even detergent. The organisation has also had its share of failures, such as cottage leather, match sticks and incense sticks, which had to be shut down. “The credit of Lijjat Papad goes to every woman working here. This recognition is the fruit of their hard work,” Jaswantiben said while speaking to <a href="https://www.shethepeople.tv/top-stories/inspiration/jaswantiben-jamnadas-popat-lijjat-papad/">SheThePeople</a> after being awarded the Padma Shri. Jaswantiben-led Lijjat Papad believes in the principle of self-reliance and does not accept any donations or contributions. To ensure that the members do not lose out on employment, the company does not use machines and till date rolls the papads using hands despite making over 4.5 billion papads each year. <cmsannotation type="cmsannotation" annotationid="Equal profits" comment="subhead" text="Equal profits">Equal profits</cmsannotation> Every woman that joins Lijjat is called a Lijjat Ben (Sister) and is given equal share in the profits. Jyoti Naik, the former president of Lijjat Papad during an <a href="https://www.rediff.com/money/2005/apr/15spec.htm">interview</a> had revealed that Lijjat’s committee consisting of 21 members decides how profits are to be distributed. “Even a ben who has recently joined gets the same share as others who have been with us longer,” she said. The profits are usually distributed by purchasing gold coins -- either 5 grams or 10 grams, depending on the profit. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/sanjiv-goenka-makes-a-billion-dollar-comeback-to-the-worlds-biggest-t20-stage/articleshow/87277384.cms">Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage</a> <a href="https://www.businessinsider.in/thelife/personalities/news/nethra-kumanan-the-first-woman-sailor-from-india-to-qualify-for-the-olympics/articleshow/81984720.cms">Meet Nethra Kumanan — the first woman sailor from India to qualify for the Olympics with a love for Bharatnatyam</a> <a href="https://www.businessinsider.in/thelife/personalities/freshworks-ceo-girish-mathrubootham-shares-someone-said-i-will-be-nothing-but-a-rickshaw-puller/articleshow/86507840.cms">WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat</a>

The 91-year old woman behind India’s most famous papad brand gets the fourth highest civilian honour ⁠— she started with ₹80

The ongoing 54th <keyword id="904527" type="UNKNOWN" weightage="100" keywordseo="Pedicon">PEDICON</keyword>, annual conference of paediatricians, alleged reports of a pharmaceutical company offering freebies including gold coins are doing rounds. However, the <keyword id="49468" type="ORGANIZATION" weightage="20" keywordseo="Medical-Council-of-India">Medical Council of India</keyword> (MCI) prohibits pharmaceutical companies from offering incentives and freebies to doctors. 
 A flyer mentioned a 'Sankranti bonanza' was distributed at the event. It mentions that doctors ordering 100TCV (vaccine against typhoid) plus 100ROTA (vaccine against rota virus) can choose between a 'digital baby weighing machine' or 'stethoscope Class III' as free gifts," a doctor attending the 54th PEDICON conference told <keyword id="6405564" type="COMPANY" weightage="20" keywordseo="The-Times-Of-India">The Times of India</keyword>. 
 The flyer carried no mention of any brands. The chief organiser of the event has denied any such ‘freebies’. Talking to TOI, Dr <keyword id="72164" type="PERSON" weightage="20" keywordseo="Karunakara">Karunakara</keyword> said, “There’s no such thing. There are never any incentives for vaccines," he said. If someone buys vaccines in bulk, they may get a reduction in the overall price.” 
 Not just this edition, even during last year’s PEDICON, a similar incident happened when Hyderabad based <keyword id="149108" type="COMPANY" weightage="20" keywordseo="Bharat-Biotech">Bharat Biotech</keyword> had offered an iPhone 5S for every order of 200 vaccines of typhoid and rota.

Doctors attending Bengaluru’s PEDICON offered freebies by Pharma companies?

A CMS-managed ATM at Turner Road, Bandra, in <keyword id="6358070" type="COMPANY" weightage="20" keywordseo="Mumbai">Mumbai</keyword> gives you the liberty to buy movie tickets, pay bills or book a flight without your debit or credit card being involved. The machine helps you to pay via registered mobile (OTP) and Aadhar platform for domestic remittances and currency deposit. 
 
ATM machines will no longer be working just as cash dispensers. You can pay your electricity or gas bills or buy gold coins while displaying current marketprices. The new machines will become the onestop-shop for all payments. 
 The ATM machine makers like <keyword id="845122" type="COMPANY" weightage="20" keywordseo="Diebold">Diebold</keyword> and NCR are lookin g at the ATM machines with multifunction capabilities like cash recycling, foreign exchange, loan repayment, cheque encashment and <keyword id="19032" type="PERSON" weightage="20" keywordseo="Bill">bill</keyword> payment for utilities, mobile recharge and DTH top-ups. 
 
At AGS' innovation centre in Mumbai, intelligent ATMs have been designed with a gold coin dispensing facility; with the gold coin being issued along with a certificate of authenticity . 
 
"We've put in elaborate security measures in place, including firewalls, server clamping, ATM shutdown, to ensure our ATMs are 100% secure,"Ravi Goyal, chairman &amp; MD, AGS told ET. 
 
Even an account can be opened with the help of the modern age ATM machines using a selfservice module. The device offers a video conferencing facility and enables scrutiny of mandatory KYC documents. 
 Instants loans with a cap of Rs 50,000 can also be approved at the new ATMs. "Cross-selling of products like granting of loans is something that is very easily doable and our ATMs have the capability. It's the underwriting and credit checks that needs to be in place from the banks' end," said <keyword id="79017" type="PERSON" weightage="20" keywordseo="Chandrasekhar">Chandrasekhar</keyword>, presi dent-services, Electronic Payment and Services. 
 “Bill payment for utility companies like Adani Gas, BSES Rajdhani Power, Central Power Distribution, Eastern Power Distribution, <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword>, via ATMs is something that <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword> is looking at,” an <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> official told ET. 
 
ATM makers are already running pilot projects and are also in talks with India banks. India's regulatory framework does not permit the dispensation of forex except at select exchange outlets and at designated bank branches in India.

Next time you want to book a flight, visit your nearest ATM<o:p></o:p>

<keyword id="19899404" type="General" weightage="100" keywordseo="Bitcoin" source="keywords">Bitcoin</keyword>'s recent surge to record-breaking highs has left many scratching their heads in awe. Within the first two weeks of March, the cryptocurrency defied gravity, surging 30% and reaching an all-time high of $73,000 or ₹60.5 Lakhs on March 13. The surge was thanks to two major factors as per experts: US SEC’s approval of spot Bitcoin ETFs and the upcoming <keyword id="8466625" type="General" weightage="20" keywordseo="Bitcoin-halving" source="Orion">Bitcoin halving</keyword>. By April 19 or 20, the Bitcoin <keyword id="20204648" type="General" weightage="20" keywordseo="halving" source="keywords">halving</keyword> is expected to occur in order to reinforce this inherent scarcity. Here’s what the latter means for investors. Read Also: <a href="https://www.businessinsider.in/cryptocurrency/article/bitcoins-bizarre-hike-renewed-enthusiasm-last-quarter-what-does-the-future-hold-for-investors/articleshow/109306609.cms" data-type="tilCustomLink">Bitcoin’s bizarre hike renewed enthusiasm last quarter! What does the future hold for investors?</a> What sets Bitcoin apart from traditional assets like stocks and bonds is its decentralized nature and finite supply. Scheduled to occur approximately every four years, Bitcoin halving involves reducing the reward miners receive for validating transactions by half — a mechanism that is hard-coded into Bitcoin's protocol. And this has inevitably led to a rally in prices in the past. “Historically, Bitcoin had a bull run after every halving. Though the correlation between Bitcoin halving and price is not always immediate as seen in the last three halvings, this year we’re already seeing a run-up in prices. After the first halving, in Nov 2012, the price jumped from $12 to $1207 within a year. From $647 around the second halving in 2016, Bitcoin surged to $20,000 by Dec 2017. In the third halving of May 2020, we saw the price go from $8500 to $11,950 in 100 days and $65,000 by Nov 2021,” explains Balaji Srihari, Business Head at CoinSwitch. <div type="image" title="Bitcoin Halvings" msid="109310509" hostid="261" sizebytes="104185" caption="&amp;lt;p&amp;gt;Source: CoinSwitch Research&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="So, what is Bitcoin halving?" comment="subhead" text="So, what is Bitcoin halving?">So, what is Bitcoin halving?</cmsannotation> Launched in 2009 by the enigmatic Satoshi Nakamoto, the virtual asset is often referred to as "digital gold" with an ability to retain value in a world fraught with economic uncertainty. Bitcoin’s appeal lies in its scarcity and the belief that it offers a hedge against inflation and manipulation from any authority in power. As governments across the world conducted unprecedented quantitative easing post-pandemic, it only helped reassure this belief among many ‘unconventional’ investors. While the supply of most other currencies has been dramatically going up in the global economy over the last few decades, the halving events in Bitcoin’s protocol are designed to curtail its supply until the complete stop to its supply eventually. How exactly does it happen? Imagine you have a magical machine that can create gold coins, but there's a rule: every four years, this machine automatically reduces the number of gold coins it produces by half. This means that if it originally produced 10 coins per hour, after four years, it will only produce 5 coins per hour. Now, replace the gold coins with Bitcoin, and you've got the basic idea of Bitcoin halving! In the Bitcoin network, there are miners — computers that validate and secure transactions by solving complex mathematical problems. As a reward for their efforts, miners receive new Bitcoins. But, just like our magical machine, there's a rule built into the Bitcoin protocol that every four years, the number of new Bitcoins created as a reward for mining is cut in half. This is what is known in the industry as "Bitcoin halving." <cmsannotation type="cmsannotation" annotationid="So, why does Bitcoin halving matter?" comment="subhead" text="So, why does Bitcoin halving matter?">So, why does Bitcoin halving matter?</cmsannotation> Going back to the basics of economics, it's all about supply and demand. When the supply of new Bitcoins is reduced (halved), but demand for Bitcoin remains constant or increases, basic economic principles suggest that the price of Bitcoin may rise. This is because there are fewer new Bitcoins entering the market, making existing Bitcoins more valuable. Bitcoin halving events are significant because they affect the rate at which new Bitcoins are created, ultimately influencing the supply side of the Bitcoin market. This event is programmed into the Bitcoin protocol and occurs roughly every four years until the maximum supply of 21 million Bitcoins is reached by the year 2140. But, while the event makes Bitcoins scarcer and potentially more valuable, it is an expected event, a part of a four-year cycle. So, with this added layer of predictability, will it have any significant impact post-halving? Yes, say industry experts. “The indicators this time around, are all pointing to another upward rally. This year, Bitcoin also has other tailwinds. After gaining approval in January 2024, Bitcoin ETFs in the US such as the one offered by Blackrock and Fidelity have been buying up over 10,000 BTC per day creating a massive demand-supply gap,” Srihari told Business Insider India. Rajagopal Menon, VP at WazirX, says, “If historical patterns were to be followed, the prices of BTC might not undergo a significant surge before two months post-halving. However, Bitcoin has already defied that by reaching its all-time high before halving, for the first time ever. The next financial year will be quite promising for crypto with Bitcoin halving ensuring a surge in prices, with demand-supply dynamics being a key lever. India will witness a greater adoption rate for virtual digital assets with increased liquidity in the market.” “The 2024 halving is distinct due to the introduction of spot Bitcoin ETFs in the US, changing investment flows, and an evolving market structure… This synergy between ETF adoption and evolving market structures lays a robust foundation for Bitcoin's continued rise. While Bitcoin has always held the spotlight as the most popular crypto, the event will have broader implications for the entire ecosystem,” writes Sumit Gupta, Co-founder of CoinDCX in an <a href="https://economictimes.indiatimes.com/markets/stocks/news/why-is-bitcoin-halving-2024-different-from-previous-ones-what-investors-must-know/articleshow/109264343.cms">Economic Times column</a>. <cmsannotation type="cmsannotation" annotationid="Scepticism continues" comment="subhead" text="Scepticism continues">Scepticism continues</cmsannotation> Bitcoin's journey from fringe fascination to mainstream asset hasn't been without its challenges. Sceptics argue that its volatile nature makes it unsuitable for serious investors, while regulatory concerns loom large over its future. And past performance is not indicative of future results, the historical correlation between Bitcoin halving events and price appreciation has not gone unnoticed by investors. As April’s halving event approaches, speculation is rife about its potential impact on Bitcoin's price trajectory and is likely to have already been factored in. The past rallies post-halving also coincided with larger macroeconomic trends like the European debt crisis in 2012, the crypto world seeing the initial coin offering (ICO) boom in 2016, and the COVID-19 pandemic and unprecedented quantitative easing that followed in 2020. All these events contributed to heightened interest in Bitcoin during respective years. While Bitcoin's price may experience short-term volatility around the time of the halving, its long-term trajectory is influenced by a multitude of factors, including market sentiment, adoption trends, regulatory developments, geopolitical conflicts, and macroeconomic conditions. In a recent survey conducted by the Deutsche Bank, more than half (52%) of the 3,600 respondents expressed belief that cryptocurrencies will become an “important asset class and method of payment transactions” in the future. This is a significant change compared to the September 2023 survey when less than 40% of the respondents expressed a similar belief. However, 33% of the respondents expect Bitcoin to fall to $20,000 — less than one-third of the current levels — while only 10% believe that the prices will cross $75,000 by the end of this year. In conclusion, Bitcoin's recent ascent to all-time highs underscores its growing relevance in today's financial landscape but it remains a risky asset class. As cryptocurrency continues to capture the imagination of investors worldwide, it's essential to approach it with a blend of optimism and caution. Understanding and considering the implications of crucial events like the upcoming halving is important while making any investment decisions. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies

E-commerce giant <keyword id="6357395" type="General" weightage="100" keywordseo="ebay" source="Orion">eBay</keyword> has announced to lay off around 500 workers, about 4 per cent of its staff globally, citing the macroeconomic situation. <keyword id="5680247" type="General" weightage="50" keywordseo="jamie-iannone" source="Orion">Jamie Iannone</keyword>, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC). Iannone said that actions taken are designed to strengthen the company's ability to deliver better end-to-end experiences for its customers and to support more innovation and scale across the platform. "This shift gives us additional space to invest and create new roles in high-potential areas -- new technologies, customer innovations and key markets -- and to continue to adapt and flex with the changing macro, e-commerce and technology landscape. We're also simplifying our structure to make decisions more effectively and with more speed," he said in the note. He further added that the move will allow eBay to focus on "where we can make the biggest impact", including expanding the company's categories of focus. Meanwhile, video communication app <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> is also laying off about 1,300 people, or 15 per cent of its workforce, its CEO <keyword id="9011175" type="General" weightage="50" keywordseo="eric-yuan" source="Orion">Eric Yuan</keyword> has announced. <keyword id="62260" type="General" weightage="50" keywordseo="yuan" source="Orion">Yuan</keyword> also said that he is reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/moto-e13-launched-in-india-price-launch-offer-and-specs/articleshow/97721974.cms">Moto e13 with Android 13 (Go Edition) launched in India starting at ₹6,999</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-is-launching-a-upi-based-coin-vending-machine-pilot/articleshow/97720261.cms">Cold drinks, candy &amp; now 'change': India to test coin vending machines that use UPI</a>

E-commerce giant eBay to layoff 500 employees

<ul><li>You can now use your credit card to make <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> payments.</li><li>The feature is currently available only to RuPay credit cards of selected banks.</li><li>In this post, we show you how to use your credit card to make UPI payments on the BHIM app.</li></ul>The Reserve Bank of India in 2022<a href="https://www.businessinsider.in/finance/news/rupay-credit-cards-will-soon-be-linked-to-upi-says-rbi-governor-shaktikanta-das/articleshow/92074759.cms"> announced</a> that it will soon allow users to link their RuPay credit cards to the Unified Payments Interface (UPI), allowing people to use their credit cards to make UPI payments. While UPI initially only allowed users to make payments using their bank accounts, the new feature allows you to make payments using your credit card, just by scanning the merchant’s QR code, without having to carry your card with you everywhere. <cmsannotation type="cmsannotation" annotationid="How to use credit card to make UPI payments" comment="subhead" text="How to use credit card to make UPI payments">How to use credit card to make UPI payments</cmsannotation> <ul><li>To begin, download the BHIM app on your<a href="https://play.google.com/store/apps/details?id=in.org.npci.upiapp&amp;hl=en_IN&amp;gl=US"> Android</a> or<a href="https://apps.apple.com/in/app/bhim-making-india-cashless/id1200315258"> iOS</a> smartphone.</li><li>Sign up or login on the app.</li><li>Now, click on the ‘Bank Accounts’ section on the top.</li><li>Then, click on the plus button on the bottom right corner.</li><li>Now, click on “Credit Card”.</li><li>Select your credit card issuing bank.</li><li>The app will show you the eligible credit cards from the particular bank.</li><li>Enter the required details and your card will be added.</li></ul>At present, you can only add credit cards of these banks – <ul><li>HDFC Bank</li><li>Indian Bank</li><li>Punjab National Bank</li><li>Union Bank</li></ul><cmsannotation type="cmsannotation" annotationid="Things to remember" comment="subhead" text="Things to remember">Things to remember</cmsannotation> <cmsannotation type="cmsannotation" annotationid="UPI PIN" comment="subhead2" text="UPI PIN">UPI PIN</cmsannotation> To use your credit card on the BHIM app, you will have to set a 4-digit or a 6-digit UPI PIN. You can set the PIN or change it, right from the app. <cmsannotation type="cmsannotation" annotationid="Merchant accounts" comment="subhead2" text="Merchant accounts">Merchant accounts</cmsannotation> While you can add credit cards on the BHIM app, you can only use them for merchant payments. This means that you will only be able to use your credit if you are scanning a merchant’s QR code and it will not work with normal accounts. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/you-can-now-get-verified-on-facebook-and-instagram-for-12-per-month/slidelist/98085218.cms">You can now get verified on Facebook and Instagram for $12 per month</a> <a href="https://www.businessinsider.in/tech/news/twitter-blue-launched-in-india-pricing-what-it-offers-and-should-you-subscribe/articleshow/97756303.cms">Twitter Blue launched in India – pricing, what it offers, and should you subscribe?</a> <a href="https://www.businessinsider.in/finance/news/india-is-launching-a-upi-based-coin-vending-machine-pilot/articleshow/97720261.cms">Cold drinks, candy &amp; now 'change': India to test coin vending machines that use UPI</a>

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Cold drinks, candy & now 'change': India to test coin vending machines that use UPI

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Fervent Bitcoin trading approaches fresh supply crunch; Here’s what this week’s ‘halving’ event implies

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E-commerce giant eBay to layoff 500 employees

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How to use credit card to make UPI payments

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