Shaikh Inside

Pay UPI-Based Feature To Roll Out As Early As Next Month: Report : Shaikh Inside WhatsApp is said to be partnering with the likes of SBI, ICICI Bank, HDFC Bank and Axis Bank for its payment feature. It’s been long rumored that  WhatsApp is working on adding a payment feature . However, the precise launch day has remained a mystery. Although there’s no official word on the precise launch date, a report online claims that the feature could be rolled out as early as next month. In the past few months,  traces of the WhatsApp Pay feature  have been spotted in beta versions of the app. ET  quotes ‘people aware of the developments’ who reiterate this, and also say that the feature could be rolled out by the end of next month. “The platform is already in beta stage (testing) with one of its partner banks. We expect the product to go live for consumers by the end of February, depending on how the trials work out,” the publication’s source says. Fo...

Why You Can’t Withdraw the Rs 200 Note From an ATM Anytime Soon : Shaikh Inside As of 4 January 2017, the Reserve Bank of India has ordered banks to recalibrate all 2.2 lakh ATMs across the country to ensure the dispensation of the new, yellow Rs 200 notes. Even though the new note was introduced in the market in August 2017, it remains somewhat of a novelty and  available only with banks  because of its size! Its dimensions (66 mm x 146 mm) are different from the existing currency in circulation, including the new Rs 500 and Rs 2000, due to which ATMs have to be recalibrated. After demonetisation in November 2016, banks went through a complete overhaul of all ATMs, having had to recalibrate the trays which hold and dispense notes inside the machine to fit the new dimensions of the Rs 500 and Rs 2000 note. This led to months of despair and disruption as people were unable to access their money easily and instead had to endure long lines in banks to withdraw ...