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Mobile wallet players laud RBI move to raise spend limits

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Digital wallet companies, RBI, mobile wallets, Chief Executive Freecharge Govind Rajan, Funds transfer, Upasana Taku, co-founder MobiKwik, Rs 20,000 for users and to Rs 50,000 for merchant bank transfers

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New Delhi: Digital wallet companies on Wednesday welcomed the RBI’s decision to increase the limits on mobile wallets spend to Rs 20,000 for users and to Rs 50,000 for merchant bank transfers in view of the cash crunch following demonetisation of high-value currency. “RBI’s steps will accelerate the adoption of mobile wallets in the country and ease the challenges being faced by the common man and shopkeepers due to cash crunch,” Upasana Taku, co-founder MobiKwik, said in a statement.

“We have heard the challenges regarding wallet limit, first hand from our users, especially sellers, and some of those would exhaust their Rs 10,000 limit within a week and then struggle with the woes of dealing in cash in these times,” she added. Doubling the limit for wallet users, the Reserve Bank of India on Tuesday said: “The limit of semi-closed Prepaid Payment Instrument (PPI) that can be issued has now been enhanced from Rs 10,000 to Rs 20,000.

“Funds transfer from such PPIs is permitted only to the merchant’s own linked bank account and upto an amount of Rs 50,000 per month, without any limit per transaction.” Chief Executive Freecharge Govind Rajan said in a statement: “This doubling of limits will have an immensely beneficial impact for users and small merchants.

“Given the quantum jump in digital wallets usage in recent days, this increase in limits makes it easier for both users and merchants to shift more of their cash transactions to digital wallets.” RBI has announced these measures till the end of the current calender year.

 

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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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