Table of Contents
Is Paytm loss making?
The report states that Paytm has been a cash-burning machine, spinning off several businesses with no visibility on achieving profitability. The analysts mention that the company has drawn in equity capital of ₹19,000 crore since its inception, of which nearly 70\% (₹13,200 crore) has gone towards funding losses.
What are the major obstacles in India becoming a cashless economy?
India faces many challenges in setting up a cashless economy like lack of digital and banking infrastructure, cyber security and financial literacy, high cash dependency etc. Finance Minister, in 2016 budget speech, talked about the idea of making India a cashless society.
Why Paytm is in loss Quora?
Why is Paytm running in loss? – Quora. Because their business model was initially based on generating number of users rather than generating profit. They used predatory pricing model & gave excessive discounts from investor’s money.
Is zomato a loss?
Zomato, the online food delivery platform, on November 10 announced its July-September quarter results for the financial year 2021-22. The company reported a net loss of Rs 430 crore on a consolidated basis compared to a loss of Rs 230 crore in the same period of last year, an increase of 87 percent.
What problems a cashless society may cause?
1. Security and privacy concerns with new technology. An increasing worry for many consumers is the data and cybersecurity issues of cashless payments aren’t well monitored (by a central bank).
What are the problems of cashless economy?
The main disadvantage of a cashless society consists of privacy issues and hacking of accounts. Prevailing poverty; backwardness and illiteracy; a large unorganized sector cannot switch to cashless economy so easily.
Is zomato a loss making company?
Food delivery aggregator Zomato reported a consolidated loss of ₹356.2 crore during the quarter ended June 30, 2021. The Deepinder Goyal-led company had posted a loss of ₹99.8 crore in the year-ago period.
What are the benefits of the cashless payment system?
You will no longer need to carry wads of cash, plastic cards, or even queue up for ATM withdrawals. It’s also a safer and easier spending option when you are travelling. “The benefits are enormous if you leave out the low-income group, which will face a huge challenge,” says Kartik Jhaveri, Director, Transcend Consulting.
How to save money with digital payments in India?
For instance, 0.75\% discount on digital purchase of fuel means that the petrol price in Delhi at Rs 63.47 per litre can be brought down to Rs 62.99/l with digital payment. Similarly, saving on rail tickets, highway toll, or purchase of insurance can help cut your costs.
What is the tax on digital transactions in India?
Service tax: Waiver of service tax of 15\% on digital transactions up to `2,000. Fuel: 0.75\% discount on digital purchase of fuel through credit/debit cards, e-wallets or mobile wallets. Rail tickets: 0.5\% discount on monthly and seasonal suburban railway tickets from 1 January 2017.