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Market observers say the challenge of India’s sophisticated payments architecture, a raging political debate around ownership of digital data, coupled with the social messenger’s global experiences such as in Brazil could be the reasons. Within a few days of WhatsApp’s payment service going live, the central bank of Brazil had taken it down owing to an uncertain regulatory climate.
A WhatsApp spokesperson confirmed the development. “That’s correct,” the spokesperson said, responding to ET’s mailed query on whether the slow start was a conscious decision to enhance customer experience before gaining scale.
Expect 5-fold jump in NPS fund management fee; slabs to be introduced
Currently, there are seven pension fund managers - Aditya Birla Sun Life Pension Management, HDFC Pension Management Company, UTI Retirement Solutions, SBI Pension Funds Private, ICICI Prudential Pension Funds Management, Kotak Mahindra Pension Fund and LIC Pension Fund
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The National Pension System (NPS), under the supervision of pension regulator PFRDA, is growing and improving. Expanding the gambit of the pension fund industry for NPS subscribers, the regulator will soon issue licences to more pension fund managers to manage NPS funds. At the same time, the pension fund management fee is being revised to make the NPS fund management business viable and attract serious players.
WhatsApp to offer sachet-sized health cover - The Financial Express financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
WhatsApp to roll out health insurance, micro-pension products in India soon
WhatsApp to roll out health insurance, micro-pension products in India soon
WhatsApp is planning to roll out health insurance and micro-pension products in India by the end of this year. The Facebook-owned platform noted that it has been working in collaboration with credible financial institutions and partners on pilots of micro-pension, micro-insurance, and others.
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(Picture: Reuters)
HIGHLIGHTS
WhatsApp is planning to partner with SBI General, HDFC Pensions and pinBox solutions to roll out products for health insurance and micro-pensions for users.
The company will also add new features and tools to the WhatsApp Business app to help small businesses.
Source: WhatsApp
WhatsApp India will soon launch sachet-sized health insurance and micro-pension products with the backing of SBI General Insurance Company and HDFC Pension Management Company, respectively, said Abhijit Bose, Head of WhatsApp India during Facebook’s Fuel for India 2020 virtual conference. “During COVID-19 the ability for people to get immediate and targeted health and life insurance can protect families’ financial security from emergency expenses. We hope that these projects will make it much easier for micro-pensions and health insurance to be scaled hopefully to every Indian regardless of location and income,” he said.
The messaging platform will soon allow consumers purchase affordable sachet-sized health insurance policies micro-pension products, through WhatsApp and its financial services partners, Bose said. Beyond the secure messaging service, WhatsApp strategy in India is based on other four pillars namely, digitising small businesses, easier