Bhavesh Gupta

Budget 2024: Govt should focus on big ticket divestments, fiscal deficit maybe reduced, says CareEdge Ratings According to a report by CareEdge Ratings, fiscal consolidation and consequently lower borrowing is expected from Union Budget 2024 focus on capex is further expected to continue as government likely to retain its interim budget’s target of capex. Also, the report said that the government should focus on big ticket divestments. Story by Anushka Sengupta CareEdge Group #BudgetDay #PublicFinance #FiscalPolicy #GovernmentSpending #India https://lnkd.in/gNMQDfN3

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Watch the interview of Rishi Gupta, MD & CEO, Fino Payments Bank, as he discusses the impressive CASA revenue growth during Q4 FY'24 on CNBCTV18. For more insights, watch the full video. #FinoPaymentsBank #FikarNot #FinoBanker #DigitalBanking #SecureBanking #HarDinFino #FinoPay #Revenue #CASA #CNBCTV18

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🚦 Working in NBFCs vs. Traditional Banks 🛞 People often wonder how working in a full-fledged bank differs from a Non-Banking Financial Company (NBFC). The reality is that NBFCs present unique challenges and require a distinct skill set. But first, let's understand how the landscape for NBFCs in India is evolving. With Moody's projecting moderate profitability over the next 12-18 months due to rising funding costs, it’s clear that the sector is facing some headwinds. Key Challenges: ⛔ Higher Borrowing Costs: RBI's increase in risk weights for consumer credit has made borrowing pricier, squeezing margins. ⛔ Regulatory Pressure: Emphasis on secured over unsecured lending could impact net interest margins. Bright Spots: ✅ Strong Credit Demand: Despite higher costs, robust economic growth (projected at 6.6% for fiscal 2025) fuels demand for loans, especially in infrastructure and SME sectors. ✅ Innovative Financing: Larger NBFCs are leveraging diverse funding sources and adopting FinTech solutions to stay competitive. So what does it entail for anyone who is going to start working for an NBFC or plans to? 1️⃣ Focus on Underserved Markets: NBFCs often cater to segments that mainstream banks might not serve, requiring professionals to be adept at risk assessment and innovative lending practices. 2️⃣ Regulatory Adaptation: Professionals must stay updated with regulatory changes and be proactive in adapting strategies to comply with new norms. 3️⃣ Versatility in Funding: Knowledge of various funding mechanisms, including retail deposits and external borrowings, is crucial for managing higher costs and maintaining profitability. 4️⃣ Product Offerings: NBFCs often specialize in certain types of loans such as personal loans, vehicle loans, and microfinance. They may offer more customized and innovative financial products tailored to specific customer needs. 5️⃣ Risk and Compliance: NBFCs typically face higher credit risk due to their focus on higher-risk segments. This necessitates robust risk assessment and management practices. For finance professionals eyeing the NBFC space, it's about embracing these changes and focusing on innovative lending practices, staying abreast of regulatory shifts, understanding the different products they have to offer, assessing the risks involved, and comprehending diverse funding mechanisms. It's a dynamic sector, promising both challenges and exciting opportunities. #NBFCs #Finance #CareerAdvice #RBI #FinTech #Innovation #Banking Feel free to share your thoughts in the comments below!

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It always brings a child like glee on my face when I hear Amitabh Bachchan's voice on the sound box. Miss it now. But what’s reassuring is knowing that every UPI payment is helping build a credit history for merchants, so that they can have equal financial opportunities in the future. Here's how. ACI Worldwide studied 40 countries on digital payments and has concluded that there is an empirical link between Digital payments on GDP through financial inclusion. Here's a synopsis of the study : 1. Economic Impact: In 2023, digital payments contributed $164B to GDP across 40 countries, equivalent to the labor of 12M workers. By 2028, this is forecast to grow to $286B. 2. Financial Inclusion: By 2028, digital payments are expected to bring around 167M previously unbanked individuals into the financial system, with Pakistan, India, Philippines, Nigeria leading this transformation. 3. Digital payments growth presents substantial profit opportunities for banks, in countries like Pakistan, Nigeria, Philippines, Turkey, India among the top markets. As a consumer, we are familiar with the convenience of digital payments. Zoom it out on a macro level- digital payments enhance market efficiency by reducing transaction times from days to seconds, with the same convenience as cash but, with the added benefit of traceability. With the digital ledger trail even small/micro merchants can gain access to credit, an opportunity that is not available with cash transactions. What is required is that banks and lenders design and extend credit to micro-level merchants (who have been underserved), based on the transaction history of their payments. Some lenders like PayTm are already doing it, but we require banks and more lenders to make credit accessible so that the MSMEs are able to thrive and achieve greater financial prosperity. That would be a far more bigger economic impact of digital payments on the countries. #UPI #digitalpayments

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#TechWithMC | Paytm appoints ex-IRS officer Rajeev Agarwal as independent director 🌟 He chairs Trust Mutual Fund and serves on boards of ACC Ltd., Star Health Insurance, UGRO Capital, & MK Ventures Capital. Know more about it here⤵️ #Paytm #RajeevAgarwal #StarHealthInsurance #UGROCaptial 

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Hi All Need to raise a point here with the RBI for clarification .Recently it's seen that many customers have raised chargeback complaints via the online portal RBI BO for transactions which are more than 360 days in case of MICRO ATM(AEPS) withdrawal they have done. Now the BO rule says they can raise till one year but the condition is after getting the revert from RE or if they did not get revert within 30 days from the date of complaint . They can't raise it on BO directly without raising it with RE first . But these complaints are raised by the BO to the Acquirer banks and the Acquirer banks forwards it saying they need customer declaration to reject the same or else it will be debited to the Corporate BC. How fair is this the compliance team just does a postman job to forward and put pressure as they are anyway at the upper hand to debit the amount , do they even understand how much days it will take to earn that amount the poor BC succumbs to the pressure and pays from his pocket denting his revenue which is already the lowest . There are clear guidelines from NPCI saying first 90 days for raising chargeback and then 60 days post 90 for good faith . So what this guideline means if this is what the BO RBI team escalates . This is a common issue to all the FI BC's can we have a clear guideline or the present one is misinterpreted due clarity issues and the pressure is on . Would like the authorities of NPCI /RBI followed with other fintech leaders to explain and guide on such practices .Specially from the Acquirer banks who just don't want to understand the guidelines . These impact the revenue and there is a leakage in the system which over time can erode revenues with the very low margins the Corporate BC's earn in this business. National Payments Corporation Of India (NPCI) Reserve Bank of India (RBI)

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🚀 Exciting Times Ahead in Banking & NBFCs! 🏦💻 Gone are the days when a commerce degree ruled the banking sector! 🎓 With the rapid digital transformation, the demand for IT experts in banks and NBFCs is skyrocketing. 💼💻 Remember the scene in "Three Idiots" where they joked about an IT guy in a bank? Well, fast forward to today, and IT professionals are the backbone of these institutions! 💪 In the next 10 years, we'll see a significant shift: more IT personnel than commerce graduates will be driving innovation and efficiency in banking. 📈 From HR to Finance to Audit, every department now relies on IT expertise to thrive in the digital age. 🔍💻 Commerce graduates, take note: to stay relevant in the banking sector, consider expanding your skill set with IT expertise or honing your sales skills. 🔄💼 Curious about the role of IT in audit? In today's regulatory landscape, auditors increasingly require IT experts to ensure compliance, data integrity, and cybersecurity. 🛡️💼 Embrace the future of banking with software expertise. Explore opportunities in the dynamic world of banking and NBFCs! 🌐 #Banking #NBFCs #DigitalTransformation #ITInnovation #Audit #SoftwareSkills #SalesSkills 🚀🏦💻

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Draft Directions on Due Diligence of AePS Touchpoint Operators August 19, 2024 Reserve Bank of India (RBI) has issued draft directions on due diligence of Aadhaar Enabled Payment System (AePS) touchpoint operators. What is Aadhaar Enabled Payment System (AePS)? Aadhaar Enabled Payment System (AePS) is a payment system in which transactions are enabled through Aadhaar number and biometrics / OTP authentication. AePS is operated by National Payment Corporation of India (NPCI). AePS facilitate interoperable financial transactions through the Business Correspondent (BC) / Bank Mitra of any bank, using the Aadhaar authentication. AePS enables basic banking services, viz., cash withdrawal, balance enquiry, mini statement, cash deposit, fund transfer, etc. AePS plays a prominent role in enabling financial inclusion. Read more https://lnkd.in/dg8Qap2k #rbi #rbipolicy #bank #banks #bankingregulation #bankingregulations #payment #payments #aadhaar #aeps #paymentsystem #paymentsystems #npci #businesscorrespondent #financialinclusion #biometric #otp #touchpoint #aadhaarenabled #onboarding

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An excellent step forward, as India navigates the evolving landscape of digital finance and collaborative initiatives by RBI signaling a commitment to transformative potential of CBDC #Fintech #CBDC #Digitaltransformation

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Amid RBI's tightening regulations, Payment Aggregators need a strategic pivot to maintain growth and security. Prioritizing strict oversight and security in these shifts is key to building trust and sustaining business momentum. As a Payment Aggregator, If you're seeking to enhance your monitoring capabilities and align with the new regulations, contact us! Our experts at BANKiQ are ready to assist you with tailored FRM and FRC solutions. https://lnkd.in/g7qANg5s  #BANKiQ #RBI #PaymentAggregators #PA #FRC #FRM #FraudRiskManagement #TimesofIndia #FraudRiskMonitoring

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The energetic and vibrant team that helped Axis Pension Fund and Axis Bank POP NPS business grow exponentially. We completed FY24 on high note. Some of the remarkable achievements are: - Axis Pension Fund closed FY24 with an AUM of ₹2197 Cr, registering growth of 1047% - Axis Pension Fund market share improved from 0.2% to 1.2% over the year. - In new Subscriber sourcing, market share of Axis Pension Fund improved from 1.3% to 9% over the year. - Axis Pension Fund became the 4th largest PFM in new Subscriber sourcing in FY24, 2 points jump from last year ranking. - Axis Bank POP market share in new Retail NPS business improved from 2.1% to 14.6% over the year. - Axis Bank POP market share in new Corporate sourcing improved from 7% to 10.5% over the year. - Axis Bank is the 5th largest POP now in Retail NPS business We are thankful to all the Stakeholders for showing faith in us. Axis Mutual Fund Axis Capital Ltd. Axis Finance Limited Axis Securities Limited Freecharge Axis Trustee Services Limited Axis Bank Foundation Pension Fund Regulatory and Development Authority National Pension System Trust Protean eGov Technologies KFin Technologies Ltd. Computer Age Management Services Limited ET Money Paytm Money Zerodha Harvard Business Review #india #economy #market #management #humanresources #macroeconomics NJ Group IIFL (India Infoline Group) StockHolding Corporation of India Limited Prudent Broking Services Pvt. Ltd.

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It is with a heavy heart and mixed emotions that I share some significant news today about Minko In FY2023-24, our B2B BNPL/Supply Chain Financing Product at Minko was acquired by a prominent fintech company operating in a similar domain in India for an undisclosed amount. Due to a non-disclosure agreement, we can't reveal the name of the acquiring company, but we are proud to announce this milestone. Our delay in announcing this news stems from our recent involvement in the wind-down processes at Minko, including the transition and knowledge transfer phase for our product. This announcement marks the end of an exciting and transformative journey of us in the B2B BNPL/ Supply Chain Financing Product for small businesses in India. Our story is one of the vision, innovation, and relentless pursuit of creating groundbreaking solutions for the underserved markets. We started Minko with an ambition to revolutionise financial inclusion for small businesses with access to seamless credit. With your unwavering support, we were able to turn our vision into reality, developing a product that significantly impacted many lives and businesses. Your belief in us has been the cornerstone of our progress, taking us from a mere idea to a tangible solution that facilitated seamless credit for thousands of small businesses. Yet, the recent regulatory challenges in the fintech sector, particularly for those without specific regulatory licenses, have presented significant hurdles. We acknowledge that this news may evoke feelings of loss and uncertainty, and we share these sentiments. However, it is in these challenging times that our resilience and determination shine through. These circumstances have led us to make the difficult decision to wind down our beloved startup and transfer the product stack we've built over the years. We take immense pride in knowing that our product stack will continue to thrive under new ownership. We are confident that it will continue to process significant transactions and further financial inclusion in India. It is our hope that this legacy will continue to empower small businesses and foster growth in the sector. To each and every supporter, customer, investor, team member, partner, and stakeholder, we extend our deepest gratitude. Your trust and support have been invaluable, and we are forever grateful for the faith you placed in us. You have been an integral part of our journey, and we couldn't have reached this point without you. As for me and my Co-founder Sanmati Shendure, we are taking this moment to reflect and pursue our personal interests. Rest assured, our entrepreneurial spirit remains undiminished. We will be back, sooner or later, with a new mission and initiatives driven by the same passion to build something significant for a cause. Thank you for being a part of our journey. 🙏

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🚀 Fintech Lending in India Soars to New Heights in FY2023-24! 🚀 India's Fintech sector is making waves with total lending skyrocketing to ₹1,46,517 Crores in FY2023-24, marking a 49% surge from ₹92,267 Crores in FY2022-23 and a 21% jump from ₹76,396 Crores in FY2021-22. 📈 💼 Total Loan Volumes: 10 Crores in FY2023-24, up 35% from 7.1 Crores in FY2022-23. The 90+ Delinquency levels in the fintech sector have significantly improved, dropping to 4.04% as of March '23 from 4.70% in March '22. 📉 This positive trend reflects the industry's robust risk management and commitment to financial health. 🔹 Loan Distribution: Personal Loans: 72% Consumer Loans: 15% Business Loans: 6% Others: 7% 📊 Key Highlights: ▶ Average Ticket Size: Business Loans - ₹4,72,842/-, Personal Loan - ₹11,360 ▶ Top Borrower Age Group: 30-40 Years (40% of disbursements) ▶ Top 5 States: Account for 50% of disbursements (FY2022-23) #Fintech #India #Lending #Growth #Finance #Business #Economy #DigitalTransformation

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BharatPe was an underdog in the crowded offline payments space in 2019 but thanks to Karan Khanna, we managed to onboard lakhs of merchants rapidly. Merchants had many options for UPI accepting payments, so we kept merchants engaged by offering cashbacks on an ad hoc basis. These bumped up our transactions but their effect was short-lived and transactions dropped when the cashback stopped. It became clear that we needed an organised loyalty program to drive sustainable engagement. Enter BharatPe Runs, which quickly became a hit among our merchants. Our own currency to reward their loyalty was a success because of: 1. Inclusivity: We rewarded everyone, from paan-waalas and sabzi-waalas to big retail stores. 2. Gamification: The currency had a gamified nature, rewarding all merchant activities in the BharatPe app—from taking loans to buying insurance, and of course, accepting payments. The chase for milestones was the ultimate hook. 3. Recall & Gratitude: This 'earn and burn' model fostered a deep sense of gratitude as well as brand recall. Merchants appreciated us when they earned Runs and loved us even more when they redeemed Runs for goodies. BharatPe Runs laid the foundation for my journey in the world of Loyalty and Rewards. Pawan Pathak, Gagandeep Arora, Abhishek Sharma, Subhasis Beura, Abhishek Shah, Arjun Juneja #Loyalty #BharatPe #Rewards #UPI #Cashback

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Would really like to get a data on What percentage of kirana/traders /retailers ' payments would have moved to QR based payments in Tier 2/3 Cities or Rural India. Any report, data will be helpful

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