The coronavirus outbreak has not only brought about a global health threat but is also crippling the economy. Several organisations, factories, and businesses are unable to operate normally, forced to cut down their costs by deducting salaries and/or reducing their employee strength. 

According to media reports, 27 million workers within 20-30 lost their jobs in April 2020 amidst national lockdown. 

Paytm job

Paytm is looking to hire more than 1,000 tech and non-tech roles and 50 key senior-level hires. [Image Credit: Shutterstock]

Also ReadHiring in India picks up pace during April to June: LinkedIn

However, Noida-based fintech unicorn Paytm is looking to hire people for 1,000 positions within the next two to three months. Apart from this, the company is also looking to bring in over 50 key senior-level hires for vice president and above positions for tech and business roles.

Speaking with YourStory, Rohit Thakur, Chief Human Resource Officer, Paytm, says, “The ongoing global pandemic has not impacted our hiring plans and we have continued with our interviews, as well as inductions of new joinees through WFH mode even during the lockdown. We believe the hiring process would be complete in the next two to three months.”Growth and expansion amidst crisis

According to Rohit, Paytm and its other group businesses — lending, insurance, wealth management, and offline payments — have been expanding operations, creating the need to hire people for both tech and non-tech roles. 

“This team expansion would play an essential role in launching innovative financial services and technology to fuel Paytm’s growth journey and digitally serve the residents of the country in the troubled times of COVID 2019,” he adds. 

Paytm is not only building solutions to survive and sustain its business amidst the pandemic but is also aiming to empower the citizens to deal with the crisis. Riding on the accelerated digitisation wave, the fintech unicorn claims to have grown by 35 percent combining offline and online transactions, while its Gross Transaction Value (GTV) has grown by 50 percent over the last few months. 

The company’s offline merchant transactions and P2P transactions have increased by 122 percent and 50 percent, respectively amidst the pandemic situation. 

The fear of contacting COVID-19 through currency notes has forced people to shift to online transactions. Transactions through Paytm Payments Gateway have also increased, especially for gaming, OTT, and essential services. 

Paytm, jobs, hiring

Paytm and its other group businesses have been expanding operations thus creating the need to hire people. [Image Credit: Shutterstock]

Also ReadHow Paytm’s Rs 250 Cr ESOP policy will help the fintech giant drive growthEnsuring wellbeing, financial security of employees

To ensure the physical and mental wellbeing and financial security of the employees, the fintech unicorn made efforts to not opt for salary cuts or layoffs. This also ensured that employees gave their undivided attention towards innovating new solutions rather than worrying about their jobs.

“We have cut down on a lot of overhead costs, streamlined our operations and real estate, and managed to save on resources in other areas. We have ensured that all levels and categories of staff remain safe, motivated, and energised as earlier with minimal impact,” says Rohit.

The company is giving up leases of 19 facilities across the country that can help Paytm save over Rs 40 crore yearly in rent, maintenance, and other operating expenses. According to Paytm, this money will be utilised for tech development, employee, and other initiatives. 

Further, to maintain the productivity of the employees, senior managers and team leads try to stay connected with teammates and support them in completing their daily tasks. The company has also joined hands with professionals to organise mental health webinars, online yoga classes, and other workshops to ensure the health of its employees.

“Every week our founder [Vijay Shekhar Sharma] addresses a video-townhall meet with a large number of colleagues to keep everyone informed about all the latest developments in the company. Throughout the week, the HR touches base with various teams to hear out their concerns and address any work-related issues that they might have,” he adds.

When asked about the appraisal plans, Rohit reveals that Paytm is looking to opt for an ESOP-based appraisal plan, which will be applicable for all the new joinees and existing employees, who were given ESOPs 2019 onwards. This new process has been linked with individual goals, which are reviewed and approved by the HoD or business head.

“Linking it to the performance of our colleagues helps us get the best out of them and also sets the benchmark for goal setting. We follow a point-based performance structure that is transparent and done purely on the basis of achieving the set goals and targets. The higher the points scored in each assessment, the more percentage of ESOPs the employee gets allocated,” he says.

New business opportunities 

Paytm has launched several new products and services such as Paytm Postpaid, Scan to Order, contactless ticketing service, COVID-19 insurance, Recharge Saathi programme, credit shell for flight tickets, and free cancellation of bus tickets, among others. 

“Early on, we understood that social distancing norms and safety measures would have a lasting impact on the movement of migrant workers across the country. Things that they were able to do earlier, including standing in a queue to pay utility bills, going for shopping, and even touching currency notes would become difficult. Keeping all these things in mind, our team worked dedicatedly to revamp the Paytm app UI with a ‘Stay at home essential payments’ section to include Mobile and DTH Recharge, electricity, water, gas, credit card, and insurance premium payment among others,” Rohit says.

This offering led to over 50 percent increase in mobile recharges, 60 percent increase in DTH payments, and over 200 percent increase in broadband bill payments, claims the company.

To cater to the growing need for contactless services, the fintech unicorn launched the ‘Scan to Order’ feature to promote safe dining and hygienic food ordering experience. It also developed a unique QR to be displayed at restaurants, which can be scanned by users to browse the menu and place orders using their mobile phones. 

Paytm also launched a contactless ticketing service for state-run local transport buses, which will benefit state transport corporations such as DTC, BEST, Punjab Roadways, CTU, OSRTC, and KSRTC, among others.

“We are already in talks with 20 state transport departments to ensure that citizens are able to travel safely within cities following all social distancing norms. We are targeting to enable a contactless ticket-buying experience in over 20,000 state-run busses in the first phase of going live with this service,” adds Rohit.

He adds that a deep understanding of user needs, along with the capability to develop innovative solutions helped the company find new opportunities during these turbulent times.

(Edited by Saheli Sen Gupta)

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Early retirement packages are being offered to more employees as a result of coronavirus, but workers need to negotiate the best packages carefully, including health insurance and other non-financial benefits.

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Manhattan DA Cyrus Vance Jr. urged a judge to dismiss President Donald Trump’s latest effort to prevent prosecutors from getting the president’s tax returns and other records from his accountants.

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This is a preview of The Chatbots in Insurance Playbook from Business Insider Intelligence.
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How_AI_Based_Chatbots_Learn_To_Execute_Human_Like_Interactions_February_2020Incumbent insurers are using chatbots to transform from passively engaging customers to putting customer engagement at the forefront of their business models.

The insurance sector has been far behind other sectors of financial services when it comes to delivering on customer engagement — but today, insurers are tapping advances in chatbot technology to deliver frequent and individualized customer interactions. Advancements in automation, machine learning (ML), and natural language processing (NLP) have enabled conversational assistants to deliver customer engagement that’s so on par with live agents that the bots can supplant staff entirely.

And within the insurance realm, chatbot tech has the potential to reshape everything from product recommendation to admin to claims processing.See the rest of the story at Business Insider

See Also:

PayPal rolled out QR code payments as contactless options become more popular amid the pandemicEurozone citizens deposited $47 billion into savings accounts in MarchCitigroup, HSBC, and other Asian banks accelerate digital upgrades amid the pandemic

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A newsletter reader asked a question that I receive frequently. Here is a (slightly edited) copy of her message:

“I’d love to know how you handle the thousands of .JPG images of genealogy document scans and how to attach sources to them. I tried copying my .JPGs into Word, adding a title and source as text boxes. It was easy enough, but Word degraded the .JPG image so much that writing from earlier documents was almost unreadable. I’m trying it now in PowerPoint files with much better luck. I maintain .JPG integrity, can add titles and sources, and have multiple pages. I can copy the .JPG into other formats or convert the file into a .PDF. I would still love to know what you use before I get too involved in this format.”

I did answer her in email, but I thought I would also share my answer here in case others might have the same questions:

You can find dozens of methods of storing and labeling files. In fact, there are several sophisticated document management systems available for Windows, Macintosh, and Linux that are designed just for that purpose. These programs are popular in corporations that need to keep track of thousands, perhaps millions, of documents. However, most of these programs cost more money than I care to spend. Also, with most of these software solutions, you are “locked into” the producing company’s methodologies more-or-less forever. Converting from one company’s (older) solution to a newer solution provided by a different company can be a complex procedure.

My needs are a bit simpler. I have about 30,000 pictures and documents stored on my hard drives and find that I can locate most any of them within seconds, should I need to. My method is free and is very flexible. I also believe I could easily convert it to a different system in the future, should I ever decide to do that.

First, let me emphasize that I don’t believe there is any “perfect way” to file any kind of document or image. As long as the method you choose works for you, it is a good method. However, I do find it helps to be consistent. My method certainly is simplistic, but it works well for me. It may or may not work for someone else who has more demanding requirements.

First, I don’t focus only on images. I use the same filing system for ALL my documents, including newsletter articles, checkbook records, tax records, receipts, insurance papers, the electric bill in yesterday’s mail, pictures taken with my cell phone’s camera, scanned images, and most other items I create. I mix images and word documents and text files and more all together, grouping them by topic, not by file type.

I am not afraid to use subdirectories of subdirectories of subdirectories, sometimes going four, five, or more levels deep into the file tree. In my mind, this is similar to using physical filing cabinets in which every filing cabinet, and drawer has a number or a name. Use of logical file and folder names leads to an easily-retraced path to the document needed at the moment.

I put a lot of effort into folder and file names, trying to make them as descriptive as possible. For instance, here are some of my folder names:

NOTE: These examples work for Macintosh or Linux file names, Windows users could use the same names except that the slashes have to go in the opposite direction (\).

/Dropbox/genealogy/reunions/1958 Eastman family reunion/

/Dropbox/genealogy/Eastman/1842 deed for Washington Harvey Eastman/

/Dropbox/genealogy/1880 U.S. census records/

/Dropbox/genealogy/1880 U.S. census records/Maine/Bangor/

/Dropbox/genealogy/conferences/2019 RootsTech/

/Dropbox/Income Taxes/2019/Federal/

/Dropbox/Income Taxes/2019/State/

/Dropbox/Income Taxes/2018/Receipts/

/Dropbox/automobiles/2012 Mini-Cooper/

/Dropbox/automobiles/2014 Corvette/

/Dropbox/Insurance/Life Insurance/

/Dropbox/Insurance/Automobile Insurance/

/Dropbox/appliances/Samsung television/

/Dropbox/vacations/2010 genealogy cruise/

I generally try to make file names equally descriptive, and I don’t hesitate to make long file names. Here are some examples of file names, including the directory path to each file:

/Dropbox/genealogy/1880 U.S. census records/Maine/Corinth/Page 24.JPG

/Dropbox/Income Taxes/2016/Federal/Complete return.PDF

/Dropbox/appliances/Samsung television/owners manual.PDF

/Dropbox/automobiles/2014 Corvette/Title.PDF

You can see the pattern in the above examples.

I also try to digitize every scrap of paper in my possession. My goal is to keep no paper documents at all. Once a file has been scanned, I usually destroy the original unless it is something of unique value. Telephone bills received in the mail, my own hand-written notes from research trips, and similar documents that have no special value to me are destroyed as soon as I scan them. However, I do save all old original documents or anything else that I think is valuable to me or possibly to someone else. If it is an original wedding certificate or something similar, I either save it myself or give it away to someone else who cares about that document.

So far, I have achieved about 95% success with the digitization efforts, but I still must keep a few things on paper, such as automobile titles, drivers license, my passport, birth certificates, and similar documents.

One group of files that requires specialized file names is in my Receipts folder. These are digitized items that I save for income tax documents. I try to add the date of the expense and the dollar amount in the file title, such as:

/Dropbox/Income Taxes/2018/Receipts/2018-07-12-$124.95-Southwest Airlines ticket to Denver.PDF

/Dropbox/Income Taxes/2018/Receipts/2018-08-18-$34.10-Prescription for Metoprolol

By writing the date in YYYY-MM-DD format, such as 2018-08-18, the files always display in the Finder on a Mac or Windows Explorer on Windows in chronological order. I also add the dollar amount in the file name as I find that speeds things up at tax time, when I only need to see the amount and payee of each receipt and do not need to look at each receipt’s image. Of course, the complete images of all receipts are still available in case of an IRS audit.

NOTE: The Internal Revenue Service does not care about seeing ORIGINAL receipts. In case of an audit or other requests, the Internal Revenue Service PREFERS electronic copies or, if no other choice is available, photocopies. The tax examiners do not want to wrestle with hundreds of pieces of different-size pieces of paper. Looking at PDF files or JPG files is much more convenient for the tax examiner. Details may be found at:

Dollar signs in file names work well on Macintosh but not so well on Windows. On a Windows system, the $ in a file name represents a hidden or administrative share. I would suggest that Windows users avoid dollar signs. However, even Windows users can write the file names without the dollar sign, such as:

/Dropbox/Income Taxes/2018/Receipts/2018-07-12-124.95-Southwest Airlines ticket to Denver.PDF

I don’t use dates in many other file names, only in items where dates are very important, such as receipts that I save for tax purposes. I do sometimes add dates to file names of photographs in order to record the date each photo was taken.

Nothing is ever perfect. In a few cases, I might store duplicate copies of files. However, I try to minimize duplicates whenever possible.

I typically leave the images in whatever format that they were created in, be it .JPG or .PDF or some other file type. Common image file formats can always be converted later to most any other format if you have a specific need for a particular file format.

Some people question how to add descriptive metadata to a digital image. I never do that. I don’t see much need to combine images and notes about that image into one file. I have a simplistic method for storing notes about images. When I wish to save notes about a particular image, I use simple text (.TXT) files to contain my notes and then store the notes in the same folder as the image and with duplicate file names of the images. However, the file name extension is not duplicated.

For instance, I might store an image of an 1880 census record as a .JPG file and the notes about that image stored as a text file with (nearly) the same name and filed in the same folder:

The image might be saved as:

/Dropbox/genealogy/1880 U.S. census records/Maine/Corinth/Page 24.JPG

and the accompanying text notes are then stored as:

/Dropbox/genealogy/1880 U.S. census records/Maine/Corinth/Page 24.TXT

The two file names are identical except that the image is a .JPG file extension while my notes have a .TXT file extension. I prefer to use ASCII text notes (.TXT) although I could use Word documents (.DOCX) or any other word processing format. I think that .TXT files will still be around long after .DOCX files have been replaced by something newer, so I prefer .TXT files. However, that’s based solely on guesswork and my personal preferences. You may prefer a different format.

NOTE: Anyone can create .TXT files with Windows NotePad or Macintosh TextEdit. However, more sophisticated (and free) text editors are available from several places. I prefer BBEdit on the Macintosh and NoteTab on Windows. You may find a different product that works better for you.

I do use software tools to quickly find any document I wish to retrieve. Every Macintosh has Spotlight installed while later versions of Windows systems have a loosely similar Search program that can be invoked by clicking on START and then on SEARCH. In both cases, the files on the hard drive have already had every word indexed, and you can quickly locate any words or phrases in a file by typing the words or phrase into the search box. If I am looking for any files about Bangor, Maine, I open the search box and type: “Bangor Maine.” That should locate all files that contain those two words inside the file(s) or as part of the file names.

NOTE: These programs are great for looking inside text files, word processing files, spreadsheets, and other text-oriented files; however, they won’t find those words inside a picture.

An excellent tutorial for searching text files on a Macintosh may be found at:

Of course, I back up every single file in multiple places. On my Macintosh, I use a free program that ships with every Mac, called Time Machine. It backs up every file on the Mac’s hard drive to an 8-terabyte USB hard drive that I plugged into a USB port on the computer. It not only saves present files, but it also saves every version of every file that existed in the past. If I accidentally deleted a file last year, Time Machine still has a backup copy of that old file available.

Time Machine stores everything until the USB hard drive fills up. As your backup drive begins to fill up to its capacity, Time Machine intelligently deletes the oldest backups to make room for newer ones (and will alert you if the “Notify after old backups are deleted” option is selected in Time Machine preferences). So far, my 8-terabyte external USB hard drive hasn’t filled up; so, I have copies of all files for the past five+ years since I purchased the Mac and the external USB disk drive. There are a few limitations about old files. Details may be found on Apple’s support site at

In addition, all my documents and images are stored in a Dropbox folder or in a folder used by some other service that saves files in a private and secure area of the cloud.

NOTE: You can find an excellent article that compares several of the more popular cloud-based file storage services at:

I don’t save all files in Dropbox. Instead, I only save the documents and images that are important to me. The result is that all the specified documents and images are copied to’s web servers in the cloud for off-site storage. (I do pay for extra file space on Dropbox. I consider this to be a cheap investment to protect my files. In fact, paying for 50 gigabytes of space on Dropbox is cheaper than buying a hard drive and is more reliable and more secure as well.)

If I ever need to retrieve one or more of my files, even when traveling and away from my computer, I can retrieve them at any time by opening a web browser on anyone’s computer by going to and logging in with my user name and password. I can even retrieve files to my cell phone or tablet computer via wireless networking. Dropbox also copies every one of those documents and images to my laptop’s hard drive the next time I power on the laptop and connect to the Internet. Therefore, I always have an additional backup copy on the laptop.

Today’s cloud-based backup services generally provide more security than simply storing the same things on your computer’s hard drive, where it is accessible to hackers around the world as well as to babysitters, carpenters, plumbers, delivery men, and other visitors to your home. I once had a laptop stolen from the trunk of my automobile, so the thief obtained easy access to all the files on my laptop. Off-site storage in the cloud is much more secure than that. (I also now use encryption on my new laptop.)

If you are concerned about the security of your files while stored on Dropbox’s servers, read the section about security on the Dropbox web site at: Amongst other things, that web page states:

“Dropbox protects files in transit between our apps and our servers, and at rest. Each file is split into discrete blocks, which are encrypted using a strong cipher.”

Of course, Dropbox has many competitors these days and almost all of them have somewhat similar security policies. However, I would always read the security policy of any service before signing up for it in order to make sure I am comfortable with the company’s security policy. In addition, I manually encrypt a few of my more sensitive documents before moving them to my Dropbox folder.

In short, I trust cloud file storage services, such as Dropbox. Some other people who do not understand encryption are not as trusting. You need to make up your own mind about security.

Finally, I also back up all documents and images to still another cloud-based backup service: Amazon S3. If I wished, I could create even more backups to flash drives, portable hard drives, CD-ROM or DVD-ROM images, or whatever I wish. One can never have too many backups! A fire, flood, tornado, hard drive crash, or burst water pipe will never destroy all my files. I worked hard to create them, and I want to make sure they are available to me forever.

In summation, I find that grouping images and documents within logical and easy-to-remember folder names works for me. I probably have 30,000 or so images and documents filed that way. Again, this “system” might not work for others, but it works well for me.

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