Abhay Johorey

#VM_view - from the writer’s desk - sample chapter - why government borrowing is not a concern (Not a promotional content but inputs on how market generally behaves at events) Budget has just gone by a fortnight ago and we are staring at a recession in US suddenly Before I’m trolled with charge of promoting the content let me make it clear - the selective group of readers for whom the book was written have already read it and I’m left with no more copies to distribute. If anyone wants now only Amazon ebook is there Since there is limited fictional content on markets - though the legendary mortgage banker has written a few (I guess 9) in backdrop of retail banking - I try to share the snippets mainly to promote market and make people aware that a lot goes in policy formulation - even beyond what we can imagine Read through what was going through minds of policy makers at onset of new millennium, on July 20, Y2K and then at the time of Lehman As I say I don’t need to promote, if you read the chapter you will do the needful on my behalf Enjoy the Sunday read Regards VM https://lnkd.in/dHMg6GNC

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#MCExclusive | 🚨 In a second attempt to knock on the Reserve Bank of India's (RBI) doors for permission to enter the small-ticket loans business, the Payments Council of India, along with payments banks, is likely to make a representation to the RBI on this matter. Read for more information ⬇️ #Paytm #RBI | Hamsini Karthik

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As banks become wary of extending loans to non-banking finance companies, top-rated private and government owned NBFCs have tapped the external commercial borrowing market for raising funds, senior bankers say. Via businessline https://lnkd.in/dJyp-kbp

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The real problem here is that there is very little authentication on consent. I have repeatedly said that AA and it's mode of consent is non-existent or weat at best. Risk and fraud is not to be taken lightly, just because someone has access to OTP does not mean that the framework is fraud free. technology is a double edge sword, it also exposes citizens to fraud, we have to be cognizant and diligent about it. additionally do these account aggregators have the necessary security stance to handle fraud and risk?

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Bankward integration for fintechs if RBI is willing ! Evolution of FintechBanking ! convergence of balance sheet , banking regulations and financial technology is good for the consumer ..

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The new RBI regulations requiring all credit card bill payments to be processed through the Bharat Bill Payment System (BBPS) have significant implications for fintech companies like CRED, PhonePe, and Paytm. 1. Revenue Impact: Fintech companies may see a decline in transaction volumes as they can no longer process credit card bill payments for major banks unless they become BBPS-compliant.This could lead to reduced revenue from service fees and commissions associated with these transactions. 2. Customer Retention: Users accustomed to paying their credit card bills through these platforms might shift to using direct bank channels, potentially leading to a loss of customers. Fintechs will need to find new ways to retain these users and maintain engagement on their platforms. 3. Integration Costs: To continue offering credit card payment services, fintech companies will need to integrate with BBPS. This process could involve significant technical and operational adjustments, increasing their operational costs. 4. Market Adaptation: Fintech companies may need to innovate and diversify their service offerings to adapt to the regulatory changes. This could include expanding into other areas of financial services, enhancing rewards programs, or developing new features that do not rely on credit payments. 5. Regulatory Compliance: Fintechs will need to ensure compliance with the new regulatory environment, which could involve ongoing investments in technology and legal frameworks to align with RBI guidelines. Overall, while the transition presents challenges, it also offers fintech companies an opportunity to innovate and potentially develop new services that align with the evolving digital payments landscape in India. https://lnkd.in/d42xfggd

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The new RBI regulations requiring all credit card bill payments to be processed through the Bharat Bill Payment System (BBPS) have significant implications for fintech companies like CRED, PhonePe, and Paytm. 1. Revenue Impact: Fintech companies may see a decline in transaction volumes as they can no longer process credit card bill payments for major banks unless they become BBPS-compliant.This could lead to reduced revenue from service fees and commissions associated with these transactions. 2. Customer Retention: Users accustomed to paying their credit card bills through these platforms might shift to using direct bank channels, potentially leading to a loss of customers. Fintechs will need to find new ways to retain these users and maintain engagement on their platforms. 3. Integration Costs: To continue offering credit card payment services, fintech companies will need to integrate with BBPS. This process could involve significant technical and operational adjustments, increasing their operational costs. 4. Market Adaptation: Fintech companies may need to innovate and diversify their service offerings to adapt to the regulatory changes. This could include expanding into other areas of financial services, enhancing rewards programs, or developing new features that do not rely on credit payments. 5. Regulatory Compliance: Fintechs will need to ensure compliance with the new regulatory environment, which could involve ongoing investments in technology and legal frameworks to align with RBI guidelines. Overall, while the transition presents challenges, it also offers fintech companies an opportunity to innovate and potentially develop new services that align with the evolving digital payments landscape in India. https://lnkd.in/d42xfggd

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🛡 Bhaskar Rao: Leading the Charge in Banking Security with Vision, Innovation, and Experience. 🛡 Unlock the future of secure banking with Bhaskar Rao, CISO of The Bharat Co-operative Bank (Mumbai) Ltd. a seasoned expert with over 19 years in the banking industry. Bhaskar will be speaking at Dine with AlphaSec 2024, where he’ll share his remarkable insights on driving innovation in cybersecurity, safeguarding critical digital infrastructures, and leading large-scale projects with precision. His expertise in technology implementation, Data Centre management, and building secure digital channels has redefined how banks operate in today’s fast-paced digital world. What sets Bhaskar apart is his ability to seamlessly blend cutting-edge security measures with operational efficiency, ensuring that banks remain resilient in the face of emerging cyber threats. Don’t miss this exclusive opportunity to hear from a leader who’s shaping the future of banking security. 🗓 Save the Date: 25th October 2024 📍 Location: Courtyard by Marriott, Mumbai 🌐 More Details: dinewithalphasec.com iValue Group #DinewithAlphasec #TechnophilesIndia #Cybersecurity #BFSISecurity #Cloudsecurity #Applicationsecurity #RiskManagement #BankingSecurity #DigitalTransformation #SecureBanking #Security #InnovatingSecurity #FutureOfBanking #CyberResilience #TechLeadership #SecureTheFuture #BankingInnovation #CyberDefense #DataProtection

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India Faces 800+ #DigitalFrauds Daily! Fraudsters are outsmarting us with new tactics, staying one step ahead. It's time to shift gears & upgrade our defense! Presenting HDFC Bank #VigilAunty's new campaign that tackles the emotional manipulation used by fraudsters, exploiting #fear, #urgency, and #greed. Through 4 powerful films, we shine a spotlight on: 1. #Impersonation 2. ⁠#InvestmentScams 3. ⁠#IdentityTheft 4. ⁠#DigitalArrests The larger message! Trends may change, but if we don’t let emotions cloud our judgment, we can protect ourselves from fraud. This isn’t just a campaign—it’s a movement to safeguard the nation. We’re proud to lead the way. Cheers to @Apoorv Singh Karki and Team FCB Kinnect for pulling off this concept. Fab job team Guraman Kaur Chahal , Russian Bose, Richa Dholi , Abhilasha Mathur

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Banks are just not spending enough on technology...RBI Deputy Governor Mr. Swaminathan. But is that the only cause behind the malaise banks' technology ? This article from Economic Times delves further into it...its quite clear that banks themselves have been left behind in banking technologies. One of the things that they also need to get rid of the "vendor" mindset, and get into the "partner" mindset when they work with fintechs to build better customer experiences. https://lnkd.in/gAMyw3Se #fintech #banking

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The Old is the Gold and the CONSAM telephony….. If this works as a matter of shrewd observation, all small business enterprises in India will be better in communication technology, if compared to rest of this blue world.

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TFM presents Fin-Idea exploration meetup closed-door brainstorming session focused on what's new in fintech & can be built? Date: Dec 07th (Saturday) Time: 10 AM onwards Location: Delhi NCR (exact location will be shared with selected folks only) Participant profiles (& restrict to 10-12 participants): - BFSI professionals (leaving their current roles), - Seasoned ex founders, looking to re-start As we are approaching the end of 2024, one question we’re hearing more frequently is: 'What’s new on the FinTech front (actual fintech-fintech)? & while looking back at this year, I’d say 2024 has been a year for secured/ mortgage lending and majority deals happened in that domain. This initiative is designed to bring right mix of folks - BFSI Professionals, seasoned ex-founders and thought leaders in one room, with the shared passion for creating the next big fintech idea. Stay tuned for insights and highlights from this gathering — we believe it’s going to be a game-changer! Please fill form here (if you qualify above criteria): https://lnkd.in/gUrvP3CF #finTech #fintechyatra #innovation #brainstormingsession

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Learning from the Epics - Series 37: 𝘜𝘯𝘭𝘦𝘢𝘴𝘩𝘪𝘯𝘨 𝘛𝘳𝘶𝘦 𝘗𝘰𝘵𝘦𝘯𝘵𝘪𝘢𝘭 𝘰𝘧 𝘛𝘦𝘢𝘮𝘴 In the epic tale, a team of Vanaras—Hanuman, Angad, Jambavan, Nala, and Neel—embarks on a crucial mission to locate Devi Seeta. Their journey takes a pivotal turn when they meet Sampati (Jatayu’s elder brother), who reveals Seeta's location in Lanka. Initially, Hanuman is hesitatant to leap across the ocean. It is Jambavan, the wise mentor, who recognizes Hanuman's latent abilities and instills the confidence he needs. This awareness of his strengths empowers Hanuman to make the leap, ultimately leading to Seeta’s rescue and the victory in war. In modern times, it is imperative that leaders make efforts to assess and recognize the unique strengths of their team members. This understanding fosters a culture where individuals feel valued and empowered and Receive a boost in their confidence. By doing so, leaders can help team tap into their inherent capabilities, leading to more innovative solutions and effective teamwork. When team members leverage their strengths, they can contribute more effectively to achieving larger organizational goals.

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FincFriends , the captive non-banking financial company (NBFC) of digital lending platform RupeeRedee, has announced the appointment of Sunil Kumar Dinodiya as its Chief Information Security Officer (CISO). Read more: https://lnkd.in/gtjaMv4U #SunilKumarDinodiya #NBFC #CISO #Appointment 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐔𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬: https://bit.ly/3R9MbPM DM for queries at [email protected]

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#BankBazaar CEO Adhil Shetty discusses the National Cybercrime Reporting Portal, kinds of cases that have been reported, and more. Alex Mathew Watch more in this week's episode of 'Big Decisions': https://bit.ly/4dtyeEE

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Axis Bank has announced the appointment of Ashish Mehra as the Head of Sales for Supply Chain Finance (SCF), Working Capital (WC), Two-Wheeler, Commercial Vehicle (CV), and Construction Equipment (CE) divisions. With over 20 years of expertise in banking, retail assets, and policy frameworks, Mehra brings a wealth of experience to his new role, where he will oversee sales strategies for dealer channel financing and working capital solutions. Mehra has been with Axis Bank for over 13 years, most recently serving as Senior Vice President. In this capacity, he managed commercial vehicle and construction equipment portfolios, contributing significantly to the bank’s growth. Earlier, he held leadership roles at Dhanlaxmi Bank and Reliance Capital, focusing on sales management and financial solutions. Known for his skills in credit analysis, financial strategy, and retail banking, Mehra’s appointment underscores Axis Bank’s commitment to strengthening its market position in the asset financing and working capital domains. #AshishMehra #AxisBank #BankingIndustry #SalesLeadership #SCF #WorkingCapital #RetailBanking #TwoWheelerFinance #CVFinance #BankingCareers #TechNews #Technology #Innovation  

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The Reserve Bank of India (RBI) has released guidelines for the Aadhaar Enabled Payment System (AePS) to prevent fraud and improve security: A. Single acquiring bank. - Each AePS touchpoint operator can only be onboarded by one acquiring bank. This is to simplify oversight and ensure accountability. B. KYC update.- Operators who have not performed any financial transactions for six months must update their KYC (Know Your Customer) details before resuming operations. C. Transaction limits.- Transaction limits for AePS touchpoint operators will be set based on their risk profile. D. Transaction consistency.- AePS transactions must be consistent with the operator's location of operation and risk profile. E. Continuous monitoring- Acquiring banks must continuously monitor the activities of AePS touchpoint operators.

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IT Governance in Banks has been in the news over the recent past after a series of regulatory actions against lenders by the RBI. My piece here just provides an overview of the issues / challenges on this front. Comments welcome, as always.

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