'PPIs Interoperability' | RBI's Fintech Implications | VARINDIA News Hour
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Prepaid instruments are designed to hold funds as a store of value funded by an individual or business for a specific purpose. PPIs are typically issued to consumers or businesses by platforms looking to facilitate digital transactions through swipes i.e., POS machines, online i.e., Payment Gateway, UPI payments i.e., Scan n Pay, or for payments to other customers i.e., Wallets. RBI mandated interoperability for full-KYC prepaid instruments and for all payment acceptance infrastructure by 31st March 2022. Interoperability refers to the ability of computer systems or software to exchange and make use of information. This would imply the exchange of information and the seamless transfer of funds between PPIs. The move towards mandatory interoperability is being seen as consumer friendly as it will allow customers of mobile wallets to transfer funds from one wallet to another. Further, as a confidence-boosting measure, and to bring uniformity across PPI issuers, it is now proposed to allow cash withdrawals for full-KYC PPIs of non-bank PPI issuers. In the past, the RBI’s policies have inadvertently affected the popularity of PPIs. With the rollout of UPI and the imposition of strict obligations to ensure KYC compliance in 2017, PPIs witnessed a loss of appeal in providing wallet services. The customer base began migrating towards the use of UPI, which provided zero-cost transfers directly from bank accounts, bypassing the service fee which was charged on such transactions by PPIs.
Secondly, the RBI proposed to gradually allow the payment system operators to obtain direct membership in the Central Payment System. This would enable them to additionally transact through Real-Time Gross Settlement and National Electronic Funds Transfer without the interference of traditional banks. Beneficiaries would not only.
'PPIs Interoperability' | RBI's Fintech Implications | VARINDIA News Hour
#VARINDIA_News_Hour #VARINDIA #Breaking_News
Prepaid instruments are designed to hold funds as a store of value funded by an individual or business for a specific purpose. PPIs are typically issued to consumers or businesses by platforms looking to facilitate digital transactions through swipes i.e., POS machines, online i.e., Payment Gateway, UPI payments i.e., Scan n Pay, or for payments to other customers i.e., Wallets. RBI mandated interoperability for full-KYC prepaid instruments and for all payment acceptance infrastructure by 31st March 2022. Interoperability refers to the ability of computer systems or software to exchange and make use of information. This would imply the exchange of information and the seamless transfer of funds between PPIs. The move towards mandatory interoperability is being seen as consumer friendly as it will allow customers of mobile wallets to transfer funds from one wallet to another. Further, as a confidence-boosting measure, and to bring uniformity across PPI issuers, it is now proposed to allow cash withdrawals for full-KYC PPIs of non-bank PPI issuers. In the past, the RBI’s policies have inadvertently affected the popularity of PPIs. With the rollout of UPI and the imposition of strict obligations to ensure KYC compliance in 2017, PPIs witnessed a loss of appeal in providing wallet services. The customer base began migrating towards the use of UPI, which provided zero-cost transfers directly from bank accounts, bypassing the service fee which was charged on such transactions by PPIs.
Secondly, the RBI proposed to gradually allow the payment system operators to obtain direct membership in the Central Payment System. This would enable them to additionally transact through Real-Time Gross Settlement and National Electronic Funds Transfer without the interference of traditional banks. Beneficiaries would not only
Technology video | 225 views
Newer opportunities of investment | fintech companies | Digital Payments | VARINDIA News Hour
India is amongst the fastest growing Fintech markets in the world. The Indian Fintech ecosystem sees a wide range of subsegments including Payments, Lending, Wealth Technology (WealthTech), Personal Finance Management, Insurance Technology (InsurTech), Regulation Technology (RegTech) etc. India remains one of the largest markets where the structural enablers to set up and incubate fintech have come together strongly and at an apt time. Combination of steady economic growth with low penetration of financial services and availability of supporting infrastructure such as internet data access, smartphones along with utility infrastructure including Aadhaar based authentication and India Stack capabilities are likely to provide the required impetus to India's FinTech sector. The FinTech market has continued to help expand access to financial services during the pandemic, especially, the emerging market has seen strong growth in all types of digital financial services. The digital payments landscape has also grown rapidly over the last decade. India has globally positioned itself as a benchmark in digital payments owing to its resilient payment infrastructure, market practices and proliferation of digital payments across various segments which include both retail and merchants.
Fintech has helped reduce the cost of providing services, making it reachable to more people while reducing the need for face-to-face interactions, which is highly essential for keeping the economic activity during the pandemic going. As the pandemic situation is getting better, many fintechs are under stress on a number of fronts. But, as the broader economy shifts from “respond” to “recover”, new opportunities may be created for some fintechs. A key question is how fintechs may leverage their unique assets and skills to seize new opportunities in the future. It could be an opportun
Technology video | 239 views
भारत आज विश्व के Fastest Growing FinTech Markets में से एक है।
FinTech में भारत की ताकत GIFT IFSC के विजन से जुड़ी हुई हैं, जिसके कारण ये स्थान FinTech का एक उभरता हुआ केंद्र बन रहा है।
- पीएम @narendramodi
पूरा वीडियो देखें: https://youtube.com/watch?v=cWg_uIFEy4s
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भारत आज विश्व के Fastest Growing FinTech Markets में से एक है | PM Modi | FinTech
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Fintech Market brings huge opportunity For Startups | Financial Technology | VARINDIA Explained
Fintech is a term used to describe the companies operating in the financial technology sector. Rising popularity for digital payments, increased investments in technology-based solutions, supportive government regulations, increased adoption of IOT devices are expected to positively influence the Global FinTech Market in the coming years. Rising innovations like mobile wallets, mobile banking, secure payment gateways, digitized money, paperless lending, etc., and adoption of e-commerce platforms across the economies, coupled with rising smartphone penetration have paved the way for increasing FinTech transactions. India has undoubtedly emerged as one of the fastest-growing FinTech hotspots in recent years. However, concerns related to data security, lack of mobile and technology expertise may hamper the FinTech market during the forecast period. Analysts say that we are still at the earliest stages of true FinTech as the future impact of cloud computing, IoT, artificial intelligence, and blockchain cannot even be estimated yet. Each year, tech companies are digging deeper into the financial services value chain and also creating new market structures in underbanked developing countries. Pure FinTech players are now sharing the market with some banks which provide new, digital-friendly banking services and integrate digital payments, microfinancing, and robo-advisor services into existing bank accounts.
Digital banking will play a crucial role in the growth of the global fintech market in the coming years. With the global adoption rate of nearly 25%, this market brings various opportunities for fintech companies. Apart from the credit financing, there are several ways the SMEs can be benefited, like using APIs and distributed accounting technologies to achieve process efficiency. According to a report from Boston Consulting Group and FICCI, India is well-
Technology video | 203 views
Historic day for the Indian Digital journey: Union Budget 2022-23 | VARINDIA News Hour
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The budget highlights the Governments' focus on digital inclusion and technology led provisioning of services to vulnerable sections. The budget shows the government wants RBI to promote digital currency, central Bank digital currency (CBDC) and kill all other currencies, just like China is doing. The government said RBI will launch digital rupee and announced a 30% tax on income from transfer of virtual digital assets. This is a very positive aspect. This is a progressive move that will give a big boost to India's digital economy. We believe digital literacy will be the key to realizing India's 5 trillion-dollar economy dream. To create a digital ecosystem for skilling and focus on digital inclusion through 5G and investment in technologies such as Artificial Intelligence and infrastructure, the government will continue strengthening the development of entrepreneurship, productivity, and quality of IT talent in the country, thereby scaling the adoption of new-age technologies across industries. Budget proposes to extend the existing tax benefits for startups by 1 more year – a promising and welcome move that will support the startup ecosystem in the country. The government’s funding support to sunrise sectors such as climate action, deep tech, digital economy and Agri tech is also welcoming.
Secondly, the Government has made a strong economic statement with its focus on public investments to spur growth. Forward looking and catering to an aspirational Digital India the budget once again lays its emphasis on technology with the launch of Digital Currency using blockchain, Digital University for education in different Indian languages, roll out of 5G and boost to Start-ups. At the same time, the government looks unlikely to offer any major relief measures to struggling consumers, focusing instead on beefing up spending on t
Technology video | 170 views
Criminals escalating SIM swap attacks to steal millions of dollars: FBI | VARINDIA News Hour
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#Ransomware continues to be an ongoing problem with protecting users’ data, there is a cell phone scam the public needs to be aware of as well. The FBI says criminals have escalated SIM card swap attacks to hijack victims’ phone numbers and steal millions of dollars from fiat and virtual currency accounts. “Both people and companies have become conditioned to being able to verify identity through simple questions like social security number or mother’s maiden name. Unfortunately, this falls apart completely when data breaches affecting millions of people routinely occur. Now information that was previously assumed to be relatively private is in the hands of malicious parties who can leverage it to easily impersonate their victims.” SIM swapping is a scam in which malicious parties target cell phone carriers to gain access to victims’ bank accounts, virtual currency accounts and additional sensitive information by using social engineering, insider threat or phishing techniques. Social engineering involves a criminal to impersonate the victim’s mobile number by tricking the cell phone carrier into switching the victim’s mobile number to a SIM card that is in the criminal’s possession, allowing the malicious party to access the victim’s calls, texts and other data, but this is only one of the three methods used to steal funds from victims.
FBI encourages mobile users to first contact their mobile carriers immediately to regain control of their phone number, then accessing their online accounts to change their passwords that protect their sensitive data. Insider threat takes place when a criminal actor pays off a mobile carrier employee to switch the victim’s SIM to a card currently in the criminal’s possession. Malicious parties can also employ phishing techniques to access victims’ sensitive data, and ste
Technology video | 244 views
Your Gmail account may not stop the attacks the way you think | Hacked | VARINDIA News Hour
There are millions of enterprises that have been integrated into the Google ecosystem with Android, Gmail, Search, Docs, Maps, YouTube, and many more products that the search giant has to offer. Google's G Suite brings much-needed convenience and organization to the enterprise cloud. But, can a Google Drive account be hacked? All of these things are controlled using one Gmail account. Due to such high-level integration, it becomes mandatory to keep your Gmail account secure and protected, because if it is compromised, then your whole Google ecosystem will be at risk. A report says, about 92% of startups are using Gmail; 60% of mid-sized businesses use it as well. More than 5 million businesses use Gmail. So far, Gmail has established itself as the popular email service for businesses of all sizes. Now the cyber attackers are not only targeting email, but the entire Google Workspace, including popular apps like Docs and Slides. Without full-suite security, your Google Workspace is at risk. When Avanan, acquired by Check Point Software, published an attack brief about the Google Docs comment exploit. The attack occurs when a threat actor adds a comment to a Google Doc (or any part of the Google Workspace). The target is mentioned with an @ sign. By doing so, an email is automatically sent to that person’s inbox. In that email, which comes from Google, the full comment, including the bad links and text, is included. Further, the email address isn’t shown, just the attackers’ name, making this ripe for impersonators.
The researchers say, Google is about the middle of the road when it comes to preventing phishing emails from reaching the inbox: But the question is, can a ransomware use the entire G-Suite as a weapon, and how to stop the attacks that Gmail and others miss. Although Google scans for known malware uploaded to Drive, it has no way to identify Ze
Technology video | 180 views
Diversity, Equality, and Inclusion | A Reality | Modern Business | VARINDIA News Hour
Diversity, Equality, and Inclusion (DEI) are the cornerstones of a thriving modern business. A diversified, inclusive workplace that provides equal opportunity to all is bound to cultivate an innovative and supportive culture, which will go a long way to make that organization successful. It sounds like a simple enough formula; make your organization a DEI workplace, and your challenges will melt, and your opportunities will grow. Then why don't all organizations make their companies a DEI workplace? Because it is easier said than done. Pandemic changed the way we think and function in almost all spheres of life. Businesses have gone through tremendous stress in maintaining the pre-pandemic status quo. With pandemic-induced remote working becoming the new way of working, it opened new opportunities for organizations that hitherto were not possible from the DEI perspective. Remote work has helped many organizations to take advantage of their diversified talents. Post pandemic, organizations can now tap into the talent pool of people who otherwise might have travel constraints or people who would have hesitated to work in the backdrop of societal taboos, given their personal and life choices, etc.
In fact, the pandemic has opened new doors for both organizations and individuals and has contributed to the overall cause of achieving DEI goals. Whether it is pandemic or not, change in the landscape of working or not, DEI at the workplace will not happen by just having the earnest intent or a well-written mission statement—it requires a conscious choice. An organization's leadership must have the will and commitment to make their workplace a DEI workplace and, most importantly, a concrete plan of action. For an organization to become a DEI workplace, a solid strategy is a good starting point. However, how well the organization communicates the strategy and t
Technology video | 166 views
Space economy worth $1.25tn by 2030 | NSR | Global Space Economy | VARINDIA News Hour
There has been a significant year-on-year (YOY) rise in both business sentiment towards cryptocurrency and the number of mentions these coins gained in company filings. A positive outlook towards Crypto and blockchain is finally in black and white now! 1st February 2022 has made a mark in the history of #Crypto. India is finally on the path to legitimising the crypto sector. This progressive stance from the Government has validated the industry to a large extent. The Government is definitely not thinking of a ban anymore! The finance minister has indicated that Crypto falls under the 'virtual digital assets' bucket and is a special asset class. We stand by the minister’s words that Crypto is not a currency. On the other hand, a digital currency, governed by the RBI, is also on the cards. It's a piece of phenomenal news that India is launching a blockchain-powered Digital Rupee soon. This move will pave the way for crypto adoption and put India in the front seat of innovation and adoption to web 3.0. There is some good news and some news of a slightly inconvenient nature. At the same time, Finance Secretary TV Somanathan said, “people investing in private crypto should understand that it does not have the authorisation of the government”. All cryptocurrency, non-fungible tokens and similar digital assets will be taxed at a flat 30% rate. And if you intend to use your stash of crypto coins to make a transaction, that’ll attract a 1% tax deducted at source (TDS) too.
Most of the Indian crypto investors have been self-reporting crypto-related income in their income tax returns so far. Now, with the introduction of sections 115BBH (Tax on income from virtual digital assets) and 194S (Payment on transfer of a virtual digital asset), clarity on taxation and Government validation is received. While this is a concise interpretation of the law as it is,
Technology video | 180 views
Data Modernisation are set to drive digital transformation for enterprises | VARINDIA News Hour
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The modern business environment is evolving rapidly and organizations are increasingly adopting new approaches to keep in pace with changing customer expectations. The digital realm is bursting with new trends emerging every year and businesses bracing themselves to tap opportunities by leveraging the latest technologies. Data modernization is one such technology driving change and transforming the way data is managed and accessed. Data modernization refers to the process of moving siloed data from legacy databases to modern databases. It opens limitless possibilities and endows enterprises with cost-saving benefits along with greater scope to employ artificial intelligence, machine learning and analytics algorithms. Data modernization is no longer optional but vital for business success. Businesses that were once averse to new technologies are now jumping on the bandwagon simply because everything revolves around data. It’s not about the quantity of data you possess, rather it’s how businesses can leverage this data to their advantage and data modernization is a firm step in that direction. There is no dearth of reasons for enterprises to adopt data modernization.
Technologies like the internet of things and smart devices have emerged as important data generators. A large number of organizations are involved in IoT and multi-channel marketing, subsequently increasing the number of data sources in hand. However, Business challenges today vastly differ from what it was a few years ago. The inexorable increase in data generation has presented businesses with as many challenges as opportunities. The majority of the organization’s members rely heavily on data to make smarter decisions and there has emerged a need for a ubiquitous, shared language to easily access data. Data modernization is the way forwar
Technology video | 237 views
IND vs SA | World Cup T20 2024 | Match Preview and Stats | Fantasy 11 | Crictracker
Welcome to the exhilarating showdown between India vs South Africa in the World Cup T20 2024 season! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.
Join us as the India, led by their charismatic captain, face off against the South Africa, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.
Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of World Cup T20 2024. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.
IND vs SA | World Cup T20 2024 | Final | Match Preview and Stats | Fantasy 11 | Crictracker
Sports video | 9081 views
IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Welcome to the exhilarating showdown between India vs Zimbawe in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.
Join us as the India, led by their charismatic captain, face off against the Zimbawe, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.
Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.
IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Sports video | 991 views
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IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Welcome to the exhilarating showdown between India vs Bangladesh in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.
Join us as the India, led by their charismatic captain, face off against the Bangladesh, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.
Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.
IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Sports video | 1714 views
IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.
Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.
Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.
IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker
Sports video | 1336 views
IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker
Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.
Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.
Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 Final. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.
IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker
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মানুহৰ জীৱনৰ ধৰ্ম আৰু কৰ্ম কিহৰ দ্বাৰা পৰিচালিত হয়?
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Neel Akash live music show 2024 Rongali Bihu || Asin Ayang mane ki? ||
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