Is paytm stealing interest from our money?
Yes.I grappled with the same question and tried to do some research on the same. The following is a brief round-up of what I found:1) Paytm Wallets are Semi Closed Payment Accounts What are theses you ask?There are 3 types of online wallets:1) Closed WalletThis type of wallet is offered by websites such as Flipkart or Jabong who give you credits in case of refund/cancellations. The credits can be used to purchase other items. RBI applies no regulations on these wallets.2) Open WalletSimilar to the one offered by Vodafone as M-Pesa. One can perform online purchase and also transfer money to each other through these wallets. These wallets can only be issued by banks; M-Pesa is operated in collaboration with ICICI Bank. These wallets have to be KYC compliant as per RBI guidelines.3) Semi Closed WalletExamples: Paytm, PayU, Mobikwik etcThese are accounts which have a maximum limit of Rs. 1,00,000 that can be maintained in user wallets. These funds can be used perform transactions. Edit: The normal account limit is Rs.10,000 and the account can be upgraded to the 1L limit after completing KYC formalities.2) Wallet money kept in Escrow AccountsThe funds deposited by users in Mobile Wallets can be diverted into an Escrow account maintained by a financial institution. The interest earned is derived as per a formula arrived at by an agreement between the Wallet service provider and the bank. The interest earned could be close to 6%.Check the terms and conditions page of Paytm and you will see terms related to the use of Semi Closed accounts.Refer to the following links for detailed explanation of the above given points: (largely the source of the condensed gyaan given above)Financial Express Article: E-wallets: Money on the moveMint Article: MoneyRBI Note showing Paytm as a Semi Closed Wallet operator: Reserve Bank of IndiaRBI Guidelines on payment services, refer clause 2.5: Reserve Bank of IndiaGlad to help.PS @Paytm : I will expect a discount/cashback every time I transact with you, now that I know you earn interest on my money. :P :D Thanks.
Qualities in a lawyer?
I was thinking about pursuing the career of being a lawyer, but im not 100% Here's some qualities that I have. Are these interests and qualities good for a lawyer? -Love debating -LOVE history and politics -Likes working alone /small groups -Persuasive/never give in to other side -Likes writing
Do All religions believe in Original Sin?
Not at all!Islam completely reject and denies the concept of original sin.In this concept Adam and Eve made a sin and this sin was inherited in their descendant, and human`s nature became guilty by their father`s sin. Jesus Christ was send and by his crucifixion, God forgave human`s original sin.Name of Adam has been mention 25 times in different chapters of Holy Quran, but there are many differences between Islamic and Christian viewpoint about this concept:1. Adam denied an advisory command of God and made a sin, but he repent and God forgave him. His position towards God Didn’t changed. He was servant of God before and after falling to the earth:“فَتَلَقَّىٰ آدَمُ مِن رَّبِّهِ كَلِمَاتٍ فَتَابَ عَلَيْهِ”“Then Adam received from his Lord [some] words, and He accepted his repentance” The Holy Quran 2:372. Adam`s sin (which was forgave by God) was not inherited to his children. Children are not responsible for their parent`s sins and actions:“مَّنِ اهْتَدَىٰ فَإِنَّمَا يَهْتَدِي لِنَفْسِهِ ۖ وَمَن ضَلَّ فَإِنَّمَا يَضِلُّ عَلَيْهَا ۚ وَلَا تَزِرُ وَازِرَةٌ وِزْرَ أُخْرَىٰ”“Whoever is guided is guided only for [the good of] his own soul, and whoever goes astray, goes astray only to its detriment. No bearer shall bear another’s burden” The Holy Quran 17:15