Skip to main content

Indian Entrepreneur To Leave Canada Over Bureaucratic Troubles, Post Viral

An Indian-origin entrepreneur running an artificial intelligence (AI)-powered Foodtech platform in Canada has gone viral after announcing his plans to leave the country. Maulik Pandya, the CEO and founder of Eatance, took to LinkedIn to announce his decision after enduring a bureaucratic nightmare where he faced a "new trap from the Canadian system" almost every day. "We are leaving Canada. We made this decision through tears. We are dissolving our beautiful nest we built with love as family of four with two wonderful daughters," wrote Pandya. "We did not come to this lightly. We have spent many sleepless nights, cried and watched our mental health and physical health fade," he added. Pandya said his family's journey in Canada was cut short owing to the bureaucratic hurdles that led to issues regarding her daughter's education and the company's future. Pandya said he kept losing money while paying taxes, creating jobs and contributing to th...
Post a Comment

All You Need To Know About UPI Changes Effective From August 1

The National Payments Corporation of India (NPCI) is set to implement a set of changes to the Unified Payments Interface (UPI) from August 1, 2025. The changes, including balance check and transaction status, are aimed at making the interface stable and efficient. In a circular dated April 26, 2025, NPCI stated that they are working to reduce the response time of UPI transactions to improve the performance. It added that the adjustments will benefit remitter banks, beneficiary banks and Payment Service Providers (PSPs), such as PhonePe, Google Pay and Paytm.

Later on May 21, 2025, NPCI noted: "PSP banks and/or acquiring banks shall ensure all the API requests (in terms of velocity and TPS - transactions per second limitations) sent to UPI are monitored and moderated in terms of appropriate usage (customer-initiated and PSP system-initiated)."

Also Read | How India's UPI Is Revolutionising Global Digital Payments, Explained Simply

Here are the key changes:

Daily Balance Check Limit: The users can check their account balance only 50 times a day per UPI app. If they use multiple apps, the limit applies to each app separately.

Transaction Status Check Limit: They can check the status of a pending transaction only three times, with a minimum gap of 90 seconds between each check.

AutoPay Timings: AutoPay transactions will be processed in specific time slots: Before 10 AM, Between 1 PM and 5 PM and After 9:30 PM.

Linked Bank Account View Limit: The users can view their linked bank accounts only 25 times a day.

Payment Reversal Cap: They can raise a maximum of 10 payment reversal requests in 30 days, with a cap of 5 per sender.

Beneficiary Name Display: The recipient's registered bank name will be visible before confirming payment, reducing errors and fraud.

Stricter Rules for Banks and UPI Apps: NPCI will monitor API usage, and non-compliant banks and apps may face penalties or restricted access.

"Members are requested to take note of this compliance requirement and communicate it to relevant stakeholders and their respective partners for implementation by 31st July 2025," the circular added.

Also Read | PayPal Partners With NPCI, Others to Build Cross-Border Payments Platform Focused on Interoperability

IMF praises India's UPI

Recently, the International Monetary Fund (IMF) praised India, saying that the nation makes faster payments than any other country with the quick growth of UPI. The usage of other instruments, including debit and credit cards, is on the decline.

"India now makes faster payments than any other country. At the same time, proxies for cash usage have fallen," the note said.

"Since its launch in 2016, UPI has grown quickly, while some proxies for cash usage have begun to decline. UPI now processes more than 18 billion transactions per month and dominates other electronic retail payments in India," the fintech note said.



from NDTV News- Special https://ift.tt/cGpLIRl
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

US Teen Who Slapped Teacher In Classroom Faces Kidnapping, Assault Charges

A US high school student, who attacked two teachers in school premises, has been hit indicted on assault and kidnapping charges, according to a report in Fox News. The outlet said that the attacks took place at Parkland High School in Winston-Salem, North Carolina. A video of 17-year-old Aquavis Hickman hitting one of the teachers in the classroom in April had gone viral on social media, leading to a barrage of comments. Hickman is being tried as an adult and his case has been moved from a juvenile court to a superior court. Watch the video: NEW: North Carolina high school student who went viral for hitting his teacher has been smacked with felony charges & is being charged as an adult. This is how it's done. 17-year-old Aquavis Hickman has been indicted on assault and kidnapping charges for two separate… pic.twitter.com/JOsO0bFiKX — Collin Rugg (@CollinRugg) May 5, 2024 "A grand jury was convened last week, last Monday, comprised of members of this community and...
Post a Comment
Read more

US Reopens Lake Michigan Airspace After Closure Over "National Defense"

US officials restricted the airspace over Lake Michigan on Sunday citing a potential new threat to national security but soon reopened the skies, as the United States and Canada respond to multiple air intrusions. The Federal Aviation Administration (FAA) announced "temporary flight restrictions" over one of the Great Lakes along the US-Canada border, designating it as "national defense airspace," one day after a similar closure over Montana led to the scrambling of US fighter jets. The Montana closure was ordered over a "radar anomaly," but no object was discovered. Similarly, the Lake Michigan restrictions were lifted shortly after they were announced, apparently with no threat detected. "The FAA briefly closed some airspace over Lake Michigan to support Department of Defense activities. The airspace has been reopened," the agency said in a statement to AFP. Sunday's action over Lake Michigan marked the latest move to address a series ...
Post a Comment
Read more

Watch: Anupam Kher Takes Satish Kaushik's Daughter Out For Lunch

Anupam Kher may be a busy actor but he always makes sure to take time out for his late friend and actor Satish Kaushik's daughter Vanshika. The two recently dined together at the 10-year-old's favourite hotel, the JW Marriot in Mumbai.  Sharing a video from the lunch outing, Vanshika Kaushik wrote, "Papa and I came often to Marriott for breakfasts and lunch's. Wonderful to repeat the routine with my favourite Anupam uncle. And how can we not make a reel together? Bullet for u (heart emoji) with the one and only #Anupam Kher".  Watch the clip below:  View this post on Instagram A post shared by vanshika kaushik (@vanshika_kaesthetics) In the short video, Anupam Kher is seen making goofy faces with Vanshika.  The 10-year-old shared the clip just a few hours ago, and since then it has accumulated more than 530,000 views and over 35,000 likes. In the comment section, internet users praised the actor for keeping his pr...
Post a Comment
Read more