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Now Paytm Money users can track all their mutual fund investments on its app; claims over 1 million customers

Paytm Money claimed of registering over 1 million users within six months of launch.

Popular online payment platform Paytm has said that its users would now be able to track the performance of their mutual fund investments on its subsidiary portal Paytm Money for free.

Investors would have to upload their Consolidated Account Statement (CAS) generated via Karvy Fintech on Paytm Money to track their all investments in their portfolio on the Paytm Money app, the company said in a statement.

Paytm Money claimed of registering over 1 million users within six months of launch.

Mutual fund investors putting their money via multiple channels including asset management companies, banks, advisors and distributors don’t get to look at the performance of their investments cohesively under a single platform.

Investors who haven’t invested via Paytm Money app can also track their daily portfolio performance irrespective of their channel or the mode of investment.

“We received many requests & feedback from Paytm Money users to be able to import their external investments to our platform. This assists an investor in keeping track of all investments in one place, further helping in their investment decisions,” said Paytm Money whole-time director Pravin Jadhav.

Paytm Money claimed to have partnered with 34 asset management companies covering over 94% AUM of the mutual fund industry.

Paytm’s mutual fund arm operates from Bengaluru and has a team of over 250 members Paytm Money, which aims to become a full-stack investment and wealth management services company, offer users mutual fund investments starting with Rs 100 via systematic investment plan or lump sum mode.

Recently at the World Economic Forum in Davos, Paytm’s chief financial officer said that the company is looking at expanding to 1-2 more developed markets this year. He told Reuters that the company has already found its footing in Canada and Japan while many of its commerce and financial services businesses have started to generate revenue and profits.

The company is also reportedly planning to expand into lending and credit cards services.

[“source=financialexpress”]

iPhone Slow: Apple Apologises Over Handling of Issue,

HIGHLIGHTS

Apple will offer battery replacements for $29, down from $79
Apple apologised over its handling of the issue
Will issue iOS update with greater battery life transparency

Facing lawsuits and consumer outrage after it said it slowed older iPhones with flagging batteries, Apple is slashing prices for battery replacements and will change its software to show users whether their phone battery is good.

In a posting on its website Thursday, Apple apologised over its handling of the battery issue and said it would make a number of changes for customers “to recognise their loyalty and to regain the trust of anyone who may have doubted Apple’s intentions.”

Apple made the move to address concerns about the quality and durability of its products at a time when it is charging $999 (roughly Rs. 64,000) for its newest flagship model, the iPhone X.

The company said it would cut the price of an out-of-warranty battery replacement from $79 (roughly Rs. 5,000) to $29 (roughly Rs. 1,850) for an iPhone 6 or later, starting next month. In India, the cost of out-of-warranty battery replacement was approximately Rs. 6,500 inclusive of taxes, as per industry sources. Apple has confirmed that the new price starting next month will be Rs. 2,000, exclusive of taxes. The company also will update its iOS operating system to let users see whether their battery is in poor health and is affecting the phone’s performance.

“We know that some of you feel Apple has let you down,” Apple said in its posting. “We apologise.”

On December 20, Apple acknowledged that iPhone software has the effect of slowing down some phones with battery problems. Apple said the problem was that aging lithium batteries delivered power unevenly, which could cause iPhones to shutdown unexpectedly to protect the delicate circuits inside.

That disclosure played on a common belief among consumers that Apple purposely slows down older phones to encourage customers to buy newer iPhone models. While no credible evidence has ever emerged that Apple engaged in such conduct, the battery disclosure struck a nerve on social media and elsewhere.

Apple on Thursday denied that it has ever done anything to intentionally shorten the life of a product.

At least eight lawsuits have been filed in California, New York, and Illinois alleging that the company defrauded users by slowing devices down without warning them. The company also faces a legal complaint in France, where so-called “planned obsolesce” is against the law.

[“Source-gadgets.ndtv”]

Apple, Epson Face French Legal Complaints Over Allegedly Shortening Life of Products

HIGHLIGHTS

A French consumer association filed preliminary, legal complaints
Apple is already facing lawsuits in the US
Planned obsolescence is illegal in France

Smartphone maker Apple and Japanese printer company Epson are facing legal complaints in France over allegedly speeding up the ageing process of their products to stimulate demand.

A French consumer association called “HOP” – standing for “Stop Planned Obsolescence” – filed preliminary, legal complaints in court against the two groups over the charges.

HOP said it filed its complaint against Apple in Paris on Wednesday. A prosecutor opened an investigation into Epson last month, a judicial source said on Thursday, following a complaint filed in September by HOP in a court in the Paris suburb of Nanterre.

Laetitia Vasseur, co-founder of HOP, told Reuters the aim of both complaints was to apply the French consumer law, which was modified in 2015 to include the notion of planned obsolescence.

Apple is already facing lawsuits in the United States over accusations of having defrauded iPhone users by slowing down devices without warning to compensate for poor battery performance.

These lawsuits came after Apple said last week that operating system updates released since “last year” for the iPhone 6, iPhone 6s, iPhone SE and iPhone 7 included a feature “to smooth out” power supply from batteries that are cold, old or low on charge.

Phones without the adjustment would shut down abruptly because of a precaution designed to prevent components from getting fried, Apple said.

Under French law, companies risk fines of up to 5 percent of their annual sales for deliberately shortening the life of their products to spur demand to replace them.

A spokeswoman for Epson France said Epson denied the charges made against it by the HOP association. She added that Epson was working with authorities on the matter and that the quality of its products was of the utmost importance for the company.

Officials for Apple France could not be immediately reached for comment.

[“Source-gadgets.ndtv”]

Biocon shares gain over 2% on launch of cancer drug KRABEVA in India

Biocon share price gained 2.5 percent intraday Thursday after the biopharmaceuticals firm has launched KRABEVA, a biosimilar Bevacizumab, in India.

The drug is used for the treatment of patients with metastatic colorectal cancer and other types of lung, kidney, cervical, ovarian and brain cancers, in India.

“We believe KRABEVA will be an important addition to oncology portfolio of novel biologics as well as biosimilars, which are making a significant impact in the realm of cancer care in India,” Arun Chandavarkar, CEO and joint MD, Biocon said.

KRABEVA is the second key oncologic biosimilar product from Biocon’s global biosimilars portfolio to be launched in India, in order to address the unmet patient need for affordable biological therapies.

The product is being offered to patients at an MRP of Rs 24,000 for 100 mg / 4 ml vials and Rs 39,990 for 400 mg / 16 ml vials.

KRABEVA is being launched post successful completion of phase III clinical trials and approval of company’s marketing authorisation application by the Drug Controller General of India.

At 11:02 hours IST, the stock price was quoting at Rs 418.50, up Rs 9.90, or 2.42 percent on the BSE.

source:-.moneycontrol.