Dear {{contact.first_name}}, SabPaisa is Back With Plenty of Interesting and Useful Information
May 17, 2021 1:04 pm
SABPAISA NEWSLETTER
Edition 67
Dear Hitesh,
SabPaisa is back with yet another letter that consists of the interesting news about this week, directly in your inbox. Want to know about the latest expectations on raising the health insurance premiums by 10-15% and more.
Let’s get you started!
IN THIS NEWSLETTER YOU WILL FIND,
NEWS FROM INDIA: India became the second worst-hit country by the fatal Second Wave of Corona Virus; How UPI transactions doubled in a year to 2.7 billion; a 15% hike in health insurance premiums is expected in the next quarter.
TECHNOLOGY BYTES: Know how Android 12’s App Hibernation feature will automatically help clear storage space; Learn how Europe seeks to limit the use of AI in society; Cryptocurrency: Could India become a tech powerhouse for innovation if it lands a pro-crypto policy?
FROM ACROSS THE WORLD: Google Misled Consumers About Data Collection, Says Australian Watchdog; NASA successfully flies small helicopter on Mars; IMF, World Bank begin a push to swap debt relief for green projects.
SABPAISA UPDATES:
i) SabPaisa Mentions
ii) SabPaisa Product Updates
iii) SabPaisa Recruitment Updates
Click here to receive more interesting news like this
NEWS FROM INDIA
India becomes the second worst-hit nation by the fatal second wave of coronavirus.
India overtook Brazil as the second worst-infected country behind the United States after data showed that Covid-19 cases continued to surge. Since the beginning of April, India has reported more than 1.37 million cases, bringing the country’s total number of infections since last January to over 13.5 million; cases began rising since February after reaching a peak in September.
UPI transactions have doubled in a year to 2.7 billion.
Transaction volumes over the Unified Payments Interface (UPI) more than doubled over a year, touching 2.73 billion in March 2021 compared to 1.25 billion a year ago. The March numbers are also a 20% jump from February’s 2.29 billion. Transactions value crossed ₹5 trillion in March, up 18% from February. March represents strong growth in UPI volumes, which had slowed to 1-3% growth between November 2020 and February 2021. As the pandemic set in and consumers started opting for digital payments, UPI transactions grew in double digits through the lockdown months.
A 15% hike in health insurance premiums is expected in the next quarter.
The daily surge in COVID-19 cases continues in the country, with India crossing the 2-lakh mark on Thursday. Hospitalization due to coronavirus, and hence health insurance claims, is also on the rise. While insurance companies have not hiked the premiums on health plans as yet, there are high chances that it may happen soon. Industry players see a hike in the 10-15 percent range in health insurance premiums by the next quarter.
As per PolicyX.com's Health Insurance Price Index, launched recently, no hike was witnessed in health insurance premiums during the first quarter of the calendar year 2021.
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TECHNOLOGY BYTES
Android 12’s App Hibernation feature will automatically help clear storage space.
Android 12, which is Google’s next major software update, will bring a new feature called App Hibernation. It is basically an improved version of the “auto revoke permissions” feature which was introduced with Android 11 last year. It can automatically change app permissions if an app remains untouched for more than two months. Now, the new Android 12 feature will help clear up storage space by removing temporary files, as per a report by XDA Developers.
The new App Hibernation feature was spotted on a leaked build of Android 12. The cited source has shared some screenshots as well. They show that when an app is not touched for a few months, then certain “permissions are removed to protect your data,” “notifications are stopped to save battery,” and “temporary files are removed to free up space.”
Europe seeks to limit the use of AI in society.
The use of facial recognition for surveillance, or algorithms that manipulate human behavior, will be banned under proposed EU regulations on artificial intelligence.
The wide-ranging proposals, which were leaked ahead of their official publication, also promised tough new rules for what they deem high-risk AI. That includes algorithms used by the police and in recruitment. Experts said the rules were vague and contained loopholes. The use of AI in the military is exempt, as are systems used by authorities in order to safeguard public security.
Cryptocurrency: Could India become a tech powerhouse for innovation if it lands a pro-crypto policy?
India happens to be at a sweet spot of driving growth and innovation by landing a robust Digital Currency Bill this year. In spite of the several rumors on a potential ban on crypto in India, there are multiple use cases that could be considered by the policymakers who understand the true potential of leveraging crypto and its impact on our economy.
Keeping in mind that our nation’s success in the past three decades has come from ITeS-based solutions, if India is aiming to reach a $5 trillion economy, we cannot ignore the $1.7 trillion market that exists for cryptocurrencies. A forward-looking crypto policy can have a significant impact on improving our overall financial infrastructure, help safeguard national security, deter financial frauds, strengthen our monetary policy, attract international capital, create more job opportunities, and retain our tech talent to accelerate technological development, thereby driving the nation towards becoming a global powerhouse.
FROM ACROSS THE WORLD
Google Misled Consumers about Data Collection, Says Australian Watchdog.
Australia's federal court found Alphabet's Google misled some consumers about personal location data collected through Android mobile devices, the country's competition regulator said on Friday.
The Australian Competition and Consumer Commission (ACCC) said it is seeking declarations and penalties from Google, though it did not specify an amount.
"This is an important victory for consumers, especially anyone concerned about their privacy online, as the Court's decision sends a strong message to Google and others that big businesses must not mislead their customers,” ACCC Chair Rod Sims said in a statement.
NASA successfully flies small helicopters on Mars.
The American space agency has successfully flown a small helicopter on Mars. The drone, called Ingenuity, was airborne for less than a minute, but Nasa is celebrating what represents the first powered, controlled flight by an aircraft on another world. Confirmation came via a satellite at Mars which relayed the chopper's data back to Earth. The space agency is promising more adventurous flights in the days ahead.
IMF, World Bank begin to push to swap debt relief for green projects.
The idea of forgiving debt held by poor countries in exchange for "green" investments gained ground this week during the spring meetings of the IMF and
World Bank, with concrete proposals expected in time for a global climate summit this fall. Low-income countries face a double crisis -- they are under pressure to pay down their debt while also confronting environmental problems, director of the International Monetary Fund, said this week, adding that it thus "makes sense" for the world to pursue so-called "green debt swaps."
Read More.
SABPAISA UPDATES
SABPAISA MENTIONS:
our founder & MD, Mr. Kumar Manish spoke to Ms.Madhumita from Karo Startup in an interview about how he came up with the idea of a company such asSabPaisa. He further shared how his experience as a banker helped him lay the foundation of the firm.
SABPAISA PRODUCT UPDATES:
· Product Subscription Paisa has been stabilized for better performance.
SABPAISA BUSINESS UPDATE
· In the last financial year, SabPasia has seen a growth in retail penetration of 400x in terms of transactions and 800x in GMV.
SABPAISA RECRUITMENT UPDATE:
SabPaisa has a dynamic and passionate team, our mission is to work towards digital transformation and provide hassle-free seamless transactions.
We’re looking for teammates who are galvanized by this challenge, who are deeply thoughtful and empathetic, and who believe that words still mean something.
We are hiring for the position of:
· Angular JS Developer:
We are looking for a passionate Angular JS Developer who can ensure high performance of an application across all platforms, including desktop and mobile having experience in AGILE development, integration of UI layer with backend API, NodeJS, and ExpressJS.
· Java Developer
We are looking for a JAVA developer who has the ability to understand business requirements and translate them into technical requirements and who can design applications around natural user interfaces.
· QA Automation & Manual Testing
We are looking for someone who can initiate, design, implement and supervise the production of test documents, Test Automation preferably in scripting language Shell/Perl/Python on Unix.
· DevOps
This position welcomes the Development Operation Engineer who can take the responsibility for ensuring the readiness and stability of our systems. Maintain and support, build and test environments. Manage concurrent releases and build a plan for releases in DEV, QA, Sanity, Production environments
· Business Development Manager (BDM)
We are looking for someone who can identify the reseller base and onboard them, manage Merchant Acquisition through various channels.
Organize merchant engagement activities and generate leads through such events. Identify and attend events related to aggregation of payments, Ed-tech, and other related events to generate leads. Identify government business and liaise with Public Sector Banks with an appropriate value proposition to acquire government business.
To know more regarding SabPaisa recruitment - https://sabpaisa.in/hiring/
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Warm Regards,
SabPaisa Family
Our mailing address is:
SRS Live Technologies Pvt Ltd | B-1/E-3, Mohan Cooperative Industrial Estate, New – Delhi 110044
P.S: We are coming out with something interesting next week. Keep checking your inbox for more.
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