Latest news with #Nagaraj
Mint
3 days ago
- Business
- Mint
Nirmala Sitharaman urges fintechs to tap rural markets, strengthen cybersecurity
Finance Minister Nirmala Sitharaman on Wednesday urged the fintech industry to shift its focus beyond urban markets and lead the next wave of innovation in rural and agricultural sectors, calling it both a business opportunity and a developmental imperative. Speaking at the Digital Payments Awards 2025, Sitharaman called for a sharper push to integrate micro, small, and medium enterprises (MSMEs) with account aggregator frameworks and emphasized the need for tailored financial products for farmers and rural consumers. 'Every fintech firm should view rural India as a fertile ground, not just as a social responsibility, but as an opportunity to create new markets,' she said, adding that consumer demand in rural areas has shown strong and sustained revival. Drawing parallels with the fast-moving consumer goods sector, the minister highlighted how deep rural penetration has become a core growth strategy for many leading brands, a model she said fintech should replicate. Sitharaman also flagged key risks looming over India's expanding digital economy, urging startups and payment firms to invest more aggressively in digital literacy and cybersecurity. 'Literacy has to be improved upon. Cybersecurity is a case in which I had interaction with a few startups and fintech companies,' she said, warning against growing threats such as deepfakes and digital fraud. 'We need a set of fintech companies which are constantly working on giving solutions for the newer challenges which are arising,' she added. The minister recounted recent discussions with startups and fintech leaders, underlining the importance of ensuring that ordinary users are not 'digitally arrested at home' by malicious actors or deceptive platforms. Financial services secretary M. Nagaraju outlined the next phase of India's digital payments journey, stressing the need to deepen adoption across sectors and geographies, particularly in underserved regions. 'Our priorities must include deepening digital payment adoption across sectors and geographies,' Nagaraj said at the event. At the same time, we must strengthen cybersecurity and fraud prevention frameworks, and promote digital and financial literacy at the grassroots, he added. The remarks come as India's UPI-led digital payments infrastructure, hailed globally for its scale and efficiency, enters a new chapter of expansion, pushing beyond urban centres and into rural economies. In March 2024, the Union cabinet approved a ₹ 1,500 crore incentive scheme to promote small-ticket transactions on the BHIM-UPI platform, particularly among small merchants to spur usage in semi-urban and rural India, by expanding infrastructure through tools such as UPI 123PAY for feature phones. It has also rolled out newer solutions like UPI Lite and LiteX for faster and more reliable payments in low-connectivity environments. Lauding the role of digital companies in the cashless transition, Nagaraj said their contributions were about more than just facilitating transactions. 'Your work is not just about enabling payments, it is about enabling possibilities,' he said. 'You are helping build a financial system that is more modern, inclusive, and globally admired," he added. In recent years, India has emerged as a global leader in digital payments, with monthly UPI transactions crossing 14 billion in 2025. However, challenges remain, particularly around digital literacy, user safety, and ecosystem resilience.
The Hindu
3 days ago
- Business
- The Hindu
Tomato price crash forces farmers to dump produce
A sharp crash in tomato prices has left farmers in and around Mysuru distraught, forcing many to dump the produce on roadsides and at the APMC Yard, on Wednesday. Though there was movement of tomatoes by way of bulk purchase for some time, the prices fluctuated and began to hover around ₹12 to ₹15 per kg. If purchased in bulk or wholesale, farmers were prepared to sell it at as low as ₹8 per kg. But with supply exceeding demand, the prices crashed and many of the cultivators were forced to dump the produce and return home sustaining a loss. Bardanapura Nagaraj, a farmer and district secretary of Raitha Mitra, a farmer producers company, said that the cost of cultivation ranges between ₹60,000 and ₹1 lakh per acre, depending on the method and input costs. But farmers were finding it uneconomical to even harvest and transport their produce, and many were not even harvesting the crop so as to save on labour charges and thus cut their loss, said Mr. Nagaraj. He said farmers faced the vagaries of nature on one hand and market rate fluctuation on the other and their lives had become miserable. Lack of cold storage infrastructure for perishable commodities such as tomatoes only worsened the situation, he added. Tomatoes from the Mysuru region are usually transported to distant markets, including Nashik in Maharashtra, as well as to Kerala and Tamil Nadu. ''However, over the past few days, demand from Tamil Nadu has dipped sharply due to an abundant local harvest and sufficient supply, leading to a glut in the Mysuru markets and a consequent crash in prices'', said Mr. Nagaraj. Apart from the imperatives of establishing cold storage facilities to store perishable commodities, farmers have also raised the demand from the government to encourage industries for value addition to fruits and vegetables in the region. 'We need to encourage the food processing industry, especially tomato-based units like sauce manufacturing units, in and around Mysuru. If such facilities are established here, they can support tomato growers not just in Mysuru but also in neighbouring districts,' said Mr. Nagaraj. While such facilities in Bengaluru will benefit farmers in Kolar, establishing units in Mysuru would aid growers in at least five surrounding districts whose economy is mostly agrarian. Another farmer Surendra echoed the concerns and called for policy intervention, demanding the introduction of a Minimum Support Price (MSP) for tomatoes. This would help shield farmers from supply-demand fluctuation , he added. The recent rains will have no immediate impact on crops, but excess rainfall will reduce the yield of crop in various growth stages in the days ahead, say the farmers. There are concerns that without policy-initiatives translated into action, farmers will continue to bear the brunt of crop loss due to vagaries of nature followed by price crash due to supply-demand mismatch, forcing them into deeper financial distress.
Time of India
4 days ago
- Time of India
Teen leads murder bid on stepfather; seven arrested in Trichy
Trichy: A 17-year-old boy who allegedly plotted to kill his stepfather over his mother's remarriage was among seven people arrested by Trichy police on Monday for attempted murder. The group, including three minors, attacked the man with weapons at his house on Sunday night. S Nagaraj, 40, of Thiruvalluvar Nagar near Ariyamangalam, was seriously injured and is being treated at Trichy General Hospital. Nagaraj married Koodara Selvi, 40, two years ago. Police said her son from her first marriage, upset over the marriage, gathered six others and barged into the house to assault Nagaraj before fleeing. Based on Selvi's complaint, police arrested her son, two other boys aged 17 and 16, and four others: P Moris Robert, 21, G Gunasekaran, 19, M Riyaz Khan, 20, and S Kishore, 19. Ariyamangalam police booked them under sections of the BNS, including 109 (attempt to murder), 191-2 (rioting), 296-b (abuse), 329-3 (criminal trespass), and 118-1 (voluntarily causing hurt). The juveniles were sent to an observation home, while the adults were remanded in judicial custody. An investigation is on.
The Hindu
5 days ago
- Politics
- The Hindu
Vatal Nagaraj stages protest against A.P.'s ban on Tothapuri mangoes from State
Social activist and leader of the Kannada Chaluvali Vatal Paksha Vatal Nagaraj staged a demonstration in Mysuru on Monday, opposing the Andhra Pradesh government's decision to ban the entry of Tothapuri mangoes from Karnataka. Karnataka is among the top mango-producing States in the country, and the Tothapuri variety is widely supplied to neighbouring States, including Andhra Pradesh. The unexpected ban has caused concern among growers and traders, prompting appeals to the State government for swift intervention. Chief Minister Siddaramaiah has urged his Andhra Pradesh counterpart to revoke the ban. During the protest, Mr. Nagaraj and his supporters raised slogans condemning the ban and demanded its immediate withdrawal. They carried Tothapuri mangoes to highlight the plight of farmers affected by the decision. Speaking to reporters, Mr. Nagaraj said the ban had badly impacted mango growers, and it should be lifted without delay to protect the livelihoods of farmers. He urged the Chief Minister to conduct a survey to determine the current population of Kannadigas in the State. 'With a large influx of people from other States for jobs, real estate, and business, Kannadigas are being outnumbered. It's important to document the native population and take steps to safeguard the Kannada language and identity,' he said. Responding to questions, Mr. Nagaraj voiced his support for Chief Minister Siddaramaiah. 'I do not have a soft corner for him, but under the present circumstances, I believe there is no better alternative. He should continue as Chief Minister and, if given a chance, serve another term,' he said.
The Hindu
13-06-2025
- Politics
- The Hindu
Chikkamagaluru DC instructs officials to investigate atrocity cases on people belonging to SC/ST
Chikkamagaluru Deputy Commissioner Meena Nagaraj has instructed officials to investigate the cases of atrocities on people belonging to Scheduled Castes and Scheduled Tribes and file a chargesheet within the stipulated time. Ms. Nagaraj was speaking at a meeting of the district-level SC/ST awareness committee held in Chikkamagaluru on Friday. The officials should not delay in releasing the compensation amount to the victims of atrocity cases and act as per the provisions under the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act, she said. Referring to the demand of Ashraya sites for the beneficiaries at Bannur Gram Panchayat in N.R. Pura taluk, Ms. Nagaraj said that she gave suitable instructions to the officials concerned. She wanted to know why the officers did not act, and directed the N.R. Pura tahsildar to allot sites at the earliest. She instructed the tahsildar of Kadur taluk to take action with regard to the sanction of land for a burial ground at Ambedkar Nagar in the town. Zilla Panchayat CEO H.S. Keerthana, Additional Superintendent of Police C.T. Jayakumar and others were present.
