Paytm to build 'New Retail' vertical
Mumbai, July 28 : Digital payments company Paytm on Saturday said that it will build a "New Retail" model to equip shopkeepers with technology, logistics and marketing capabilities.
According to One97 Communications, that owns the brand Paytm, under the new model, "consumers will soon be able to discover nearby pharmacies, groceries and other shops to place an order and get instant deliveries".
"Paytm is also building P2P logistics with a rider network spread across the country which will be utilised for intra-city deliveries," the company said in a statement.
"The company has already partnered with a large network of local shops, restaurants, pharmacies and groceries for accepting payments and will soon extend 'New Retail' services to them."
Paytm Founder and CEO Vijay Shekhar Sharma said that local ordering is expected to become one third of Paytm orders and GMV (Gross Merchandise Value) by 2020.
As per the statement, Renu Satti will lead the charge as COO of this new initative.
"In the past, she has built businesses ground up that include marketplace, movie ticketing and most recently Paytm Payments Bank. Renu Satti has already resigned from Paytm Paymnets Bank CEO position and the Bank will soon be recruiting a new CEO," the statement said.
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MP boat tragedy: Death toll climbs to 13; body of last missing person recovered
Jabalpur (PTI): The bodies of a five-year-old boy and his uncle were recovered from Bargi Dam in Madhya Pradesh's Jabalpur district on Sunday morning, raising the death toll in the cruise boat tragedy to 13, police said.
The boat, around 20 years old and operated by the state tourism department, capsized during a storm on Thursday evening.
"The bodies of Mayuram (5) and his uncle Kamraj (around 50), an employee of the Ordnance Factory in Khamaria, were found floating and were fished out of the dam," Bargi Sub Divisional Officer of Police Anjul Ayank Mishra told PTI over the phone.
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All 13 missing persons identified have now been accounted for, he said, adding the bodies were sent to a government hospital for postmortem.
Teams comprising around 20 Army divers airlifted from Agra, along with personnel from the National Disaster Response Force, State Disaster Response Force and local divers, were involved in the search operation, the police said.
Of the 41 identified passengers on board the vessel, 28 were rescued after the incident, according to the police.
The CCTV footage near the boarding point showed 43 people heading towards the boat, though the identities of 41 passengers have been confirmed so far, they said.
The state government on Friday ordered a probe into the incident and dismissed three crew members. It also banned the operation of similar vessels in the state.
