Why Is the Indian Rupee Falling Against the US Dollar? Will It Fall Any Further in FY23?
On Thursday, the rupee dropped to a new all-time low of 77.72 against the US dollar. On January 12, 2022, the local currency was trading at 73.77 to the dollar. The drop is due to outflows of foreign investments and the US Federal Reserve's tight monetary policies. On Thursday, foreign institutional investors were net sellers in the stock market. According to stock market statistics, they sold shares for Rs 4,899.92 crore. The dollar index, which measures the strength of the US currency against a basket of six currencies, is currently trading at 102.86, while crude oil is at $111.59 a barrel.
Meta Files for Five Patents and Hints at Launching Crypto-Supported Payments Platform.
The parent company of Facebook has submitted five patent applications with the United States Patent and Trademark Office. Meta is looking for licenses to operate as an "online social networking service for investors that allows for financial trading and digital currency exchange." New social networking platforms, computer software, e-commerce services, telecom services for digital asset holders, and a metaverse-focused advertising platform might all be introduced by the company.
In April 2022, India Climbs Two Places in the Speedtest Global Index for Mobile Broadband Speed: Ookla
In April 2022, India climbed two places in the global list for median mobile Internet speeds. In April, India's median mobile download speed improved to 14.19Mbps, up from 13.67Mbps in March. In India, median fixed broadband speeds have decreased slightly, while median mobile download speeds have improved. The index's top performers were the Middle Eastern country of UAE and the island nation of Singapore.
Prime Minister Narendra Modi said on Tuesday at the TRAI's silver jubilee celebration that India will put out a 6G communications network before the end of the decade. Indian telecommunications providers are now working to launch a 5G network.
Mastercard Will Eventually Allow Users to Pay Just by Smiling.
The new biometric service from Mastercard will allow customers to make payments simply by smiling. Users can simply check the bill and make payment by smiling into a camera. This will not only speed up transactions but also give users the option of how they wish to pay. Only five supermarkets in Sao Paolo, Brazil, presently accept Mastercard, but the initiative will be expanded globally.
Customers who visit these supermarkets can use the Payface app to register their face and payment details, and once registered, they can simply smile to pay at the checkout without using a card or mobile device.
No More Cancellations? Uber's New Policy Aims to Enhance Rider Satisfaction.
Drop locations or online payment (card or UPI) suggested by customers but judged unpleasant by drivers are the most common causes of ride cancellations. If drivers must travel a great distance to pick up riders, Uber has introduced additional earnings. Long pick-up profits will be separately shown on the fare receipt for drivers to see. Uber drivers couldn't tell if a ride was 'cash only' or 'online' until recently. The service now displays the manner of payment (cash or online), allowing drivers to select a cash-only ride if that is what they require. The corporation has also started paying drivers on a daily basis.
