Sunil Shah

India’s economic landscape is at an interesting moment. With the country poised to contribute significantly to global growth over the next decade, it’s clear that India is more than just an emerging market—it’s becoming a powerhouse of innovation, digital transformation, and rising wealth. In our latest ‘Beyond Markets’ podcast, Rishabh Saksena, Head of Investment Specialists Julius Baer Asia, chats with Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Companies Limited about India’s impressive growth, upcoming challenges, and the key risks investors should watch out for. Tune into the latest edition of our Beyond Markets podcast here: https://lnkd.in/df85TgZS #juliusbaer #beyondmarkets #indiagrowth

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🌟 Excited to share Part 2 of my conversation on the future of Global Capability Centers in India! 🎙️ Now streaming on Apple Podcasts, Spotify, and more (search ‘McKinsey Future of Asia’). Two powerful takeaways from our chat: 1️⃣ To empower the next-gen leaders, GCC heads must shift from cascading CONTENT to help shape CONTEXT. 2️⃣ GCC leaders must transcend the waiting game, no longer relying on being-told but instead charting our own trajectories. It's been an honor discussing these crucial topics with McKinsey's top minds and fellow GCC leaders in India - I am grateful for the bond we have started to create together - Indy Banerjee Fabrice Desmarescaux Debasis Panda. The future of GCCs in India is brimming with potential, and I'm thrilled to be part of this journey. Tune in to Part 2 now, and catch up on Part 1 if you missed it. Let's pave the way forward together! 🚀 #FutureofGCCs #LeadershipDevelopment #GCCs #Innovation

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Innovation in India is often driven by resourcefulness, creating solutions for large-scale challenges with limited resources—think frugal innovation and social impact. The USA, on the other hand, focuses heavily on cutting-edge technology, with vast investments in R&D and a culture that fosters disruptive ideas. Both approaches are unique, contributing significantly to global advancements, yet they highlight different strengths: India's agility and grassroots problem-solving versus the USA's technological prowess and investment-heavy innovation ecosystem. #Innovation #IndiaVsUSA #TechCulture #FrugalInnovation

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I was delighted to catch up with Vibhooti Chaturvedi, Regional Director, Head of South Asia for Avaloq recently. The conversation touched upon the findings of the Avaloq Wealth Insights Survey 2024, highlighting key trends among affluent to ultra-high-net-worth investors and wealth management professionals in Asia and the Middle East. It also explored Avaloq’s recommendations for the wealth management industry, insights into AI’s evolving role in the sector, and actionable strategies to address emerging challenges and opportunities. Watch the full video interview here: https://lnkd.in/g7hvadvR #WealthManagement #WealthSolutions #WealthInsights #AI #Digital #Technology

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Tips for all technocrats from across technical institutes in India preparing for #SmartIndiaHackathon2024 Use The MOM Test Theory in action. If you have no idea what is MOM Test, Its book written by Rob Fitzpatrick; I know current GenZ (who find more engagement in 1 min ig reel) are not used to read books, still if anyone is interested, this book is available on amazon (highly recommended). You can also read gist about this book in this medium article https://lnkd.in/g5q69wy7 Coming back to putting MOM Test in action while preparing #SIH2024 Follow the steps: ##1. Questions to Understand the Problem (99% teams directly jumps upon solution without swimming into problem statement's vast ocean. Fun Fact: Understanding problem statement constitutes 90% of solution part)   - Articulate few basics to complex and yet simple, silly straight-forward questions  - Sometimes simplest or silliest of question, give great insight to understand problem ##2. Questions to Gauge Existing Solutions   - What tools or systems currently exist to address this problem?   - Why dissatisfaction for existing form of solution? - Keep the why coming... #3. Questions to Identify Potential Willingness to Pay (This will answer financial viability)   - How much time and resources do one currently invest for existing solution?   - Can potential solution reduce cost or time? If it is then by what percentage?   - If you were at the other side i.e. of potential user/buyer of the solution will you pay for the solution (Empathize with the user) ##4. Questions to Uncover Specific Needs or Pains   - How important is <pick up most important part of problem statement>   - What are the consequences if the efficiency of your solution is low?   - Go through user journey of ideated/proposed solution OR journey in existing scenario of problem statement - Come up with 3-4 profile of different user persona (user persona would be the one who will use the solution or facing the given problem statement) These questions will help you gathering valuable insights on the problem, existing solutions, and potential demand for the proposed solution. Abhay Jere MoE's Innovation Cell Yogesh Brahmankar Pradeep Dhage #SIH2024 #SmartIndiaHackathon2024

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As one of the sponsors of FIBAC 2024, Standard Chartered Bank was at the forefront of critical conversations shaping the future of India’s banking sector. The two-day conference in Mumbai gathered top industry leaders, policymakers and regulators to explore innovative solutions for India’s economic growth and transformation. Shaktikanta Das, Governor, RBI, set the tone for the event with his address that successfully facilitated meaningful discussions on the banking sector's evolving role in India’s journey towards becoming a ‘Viksit Bharat’. In a panel discussion on 'Banking for Viksit Bharat,' Zarin Daruwala, CEO of India & South Asia, shared her insights on tackling INR liquidity pressures and emphasised the importance of sustainable finance practices in driving long-term growth. Sanjay Gurjar, Co-Head of Banking and Coverage, India & South Asia, talked about the banking sector’s readiness to navigate the complex landscape of climate-related risks and evolving regulations. With participation from industry leaders, FIBAC 2024 served as an influential platform for collaboration, reinforcing the crucial role of the banking industry in supporting India’s resilient and progressive economic landscape. #StandardChartered #FIBAC #ViksitBharat #SustainableFinance #Banking

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Digital transactions on ONDC will be collateral for credit providers, says T Koshy T Koshy, MD & CEO of Open Network For Digital Commerce (ONDC), shares how digital transaction history will serve as collateral, simplifying loan processes. He also discusses ONDC's journey, key milestones in merchant participation, transaction growth, and how ONDC's network model is transforming digital commerce. In conversation with: Amol Dethe #DigitalTransactions #ONDC #CreditCollateral #DigitalCommerce #NetworkModel #Fintech #TandC #ETBFSI #BFSI Watch here: https://lnkd.in/eqb8uJae

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🌟 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗟𝗲𝗻𝗱𝗶𝗻𝗴 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮: 𝗧𝗵𝗲 𝗗𝗮𝘄𝗻 𝗼𝗳 𝗮 𝗡𝗲𝘄 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗣𝗮𝗿𝗮𝗱𝗶𝗴𝗺 🌟 Digital lending is emerging as a critical component, fundamentally reshaping how financial services are delivered and consumed. This shift isn’t just a trend, but a pivotal transformation that is redefining the banking landscape in India. In the latest Cedar-IBSi India Journal September Edition, Nikhil Gokhale, Director - Research & Digital Properties at IBS Intelligence, explores this digital transformation of India’s banking sector. Discover the key insights and future trends driving this revolution in the Indian financial ecosystem. 🔗Subscribe to Read more: https://lnkd.in/dKGQZ7r3 #CedarIBSi #DigitalLending #IndiaBanking #FinTech #BankingInnovation #DigitalTransformation #IndiaFinTech Robin Amlôt | Amit Jain | Ojas Kulkarni

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Retail banking has come a long way. However, corporate banking needs to catch up quickly. While this space has grabbed the attention of banks in the last few years, corporate clients end up integrating with each bank separately which is time consuming, complex and costly. In my recent article for Express Computer, I discuss how corporate banking can witness greater automation, standardization, and a much better customer experience across use cases like #payments, #tradefinance and #treasury. However, this needs a unified industry-wide approach. Read more: Seamless banking for corporates via #APIs: Opportunities and challenges https://lnkd.in/dHeDxaw8

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🌟 During a recent Finextra TV interview, Narendra Mistry, CPTO for Universal Banking at Finastra, highlighted the need for banks to swiftly adapt to evolving technology and customer expectations. 🔎 He emphasized the importance of efficient core banking systems that foster innovation at scale and pace, while also navigating AI and data with a strategic focus on mindset and business services. Although lean systems, such as those used by neo and digital-only banks, are beneficial, long-term growth necessitates a clear vision, a robust organizational culture, and a wide range of capabilities. For established banks with existing infrastructures, symbiosis – deploying next-gen solutions alongside current ones – can facilitate the delivery of exceptional experiences, competitive advantage, and smooth transitions when needed. Watch the full interview here: FinextraTV: https://okt.to/mCxzh2

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The bulk of cash-in cash-out (CICO) operators across the country rely on Aadhaar enabled Payments System or AePS for enabling transactions. In response to concerns of fraud perpetrated over AePS, on 31st July 2024, RBI issued (draft) directions to all banks and to the NPCI for onboarding and ongoing due diligence of AEPS touchpoint operators. This is very welcome. However, the RBI has also reiterated an older 2010 prohibition disallowing CSPs from offering services of multiple acquiring banks at his/her location. Our field research indicates that this could result in loss of convenience for the last mile cash-reliant customer. Banks' server failure/downtime is a recurring issue for AePS - As a workaround, CSPs acquire licenses from multiple providers at a time and use them when a particular bank server is down. This 'multi-homing' practice that has been observed by our researchers on the ground for many years now and has been corroborated by other stakeholders we have spoken to. By multi-homing, CSPs ensure continuous availability of AePS withdrawal services to customers who approach them. The prohibition may help prevent organised fraud, but for CSPs who genuinely want to service customers and make a viable business of it, they can quite easily find a workaround to this rule - after all, it's in their interests to maintain a reputable, reliable & sustainable business. We humbly submit that the RBI may consider alternative approaches - Non-exclusivity may be enabled by requiring banks and the NPCI to adopt a graded, risk-based approach. Operators who have been regularly active, have a long history of undertaking CICO transactions in the exact location, operators who do not appear in the NPCI blacklist, who do not have a history of customer complaints, can be assessed for this permission, by the acquiring banks as well as by NPCI itself, and network managers, depending on where the data for each layer rests. Those CSPs with higher risk score may be disallowed from accessing the AePS servers through any bank other than the one which shows more prominent activity for. The score can be updated on a convenient cadence to allow for genuine operators to expand their business and customer-convenience offerings. Can we prioritise convenience for the last-mile consumer and use technology fully to solve for monitoring and safety? - perhaps there is a DPI to be built? Seeking comments and feedback Dilip Modi sameer nagpal Reserve Bank of India (RBI) National Payments Corporation Of India (NPCI) Ram Rastogi 🇮🇳 Kuldeep Pawar Spice Money Sub-K IMPACT Solutions Ltd Sasidhar Thumuluri BUSINESS CORRESPONDENT FEDERATION OF INDIA #uninterruptedCICO #customerconvenience #customerservice We submitted our response to the RBI, available at https://lnkd.in/dNfKmMGs Dvara Research

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Session Highlights: Puneet Narang, Head – Corporate Bank Technology, India; CIO, Contextual Banking & Banking as a Service (BaaS), Deutsche Bank at the #BFSITechConclave 2024 | 10th May 2024 | #Pune | Presented by Syndrome NewEdge Topic: Beyond Borders - Exploring the Digital Horizons of Banking Tech [1] Cryptocurrency had a zero value initially and now the large scale high volume transactions gave much value to these digital currencies. This laid the foundation for reshaping the future of the BFSI sector. [2] Though AI is the most talked about tech today, but what's going to define the future of banking are CBDCs (Central Bank Digital Currencies) [3] CBDCs are traceable. Further, as these will be led by central banks it will be highly regulated. [4] Digital currency is programmable. It can be programmed through a code to regulate its usage and behaviour. [5] CBDCs has the ability to create a social impact as it can be programmed to prevent its misuse. Nivedan Prakash | Srikanth RP | Harshal Desai | Adarsh Som | Vishnu Gupta | Aaratrika Talukdar | Atreyee Chakraborty | Mansi Singh | Sayantan Mondal | Bidhi Rajput | PRABHAS JHA | Durgaprasad Talithaya | Deepak Patel | Ashish Damania | Aparna Tawade | Praveen Kumar.S | Sunil Kumar | Debnarayan Dutta | Nikhil Rajput | Saksham Sharma | Muhurta Shinde | Vikram Vora

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🎉 Celebrating a decade of building digital trust ! 🎉 Today marks a significant milestone for TrustMore®️HQ — Our 10th anniversary! This decade-long journey has been extraordinary, marked by challenges, growth, and notable achievements. Me and Subhrangshu Kumar Neogi envisioned creating a new category in Transaction Banking with our digital escrow solutions. Our mission was to address critical issues facing businesses, such as: - 70 million businesses in India striving for impact - Over 5 billion invoices issued monthly - More than 66% (3.3 billion) invoices are delayed - Over 3% (150 million) invoices receive no payment - Delays in invoice payments leads to GST and TDS defaults - Lengthy and financially burdensome litigation processes in India - How to build “digital trust” for India ? In our journey of building Trustmore, we achieved several significant firsts in the Indian market: - Launched India’s first instant digital escrow solution - Surpassed ₹20,000 crore in Total Payment Volume (TPV) - Secured our pioneering license in the Gift City for cross border transactions - Generated a demand of ₹100,000 crore in this segment - On track to serve over “1 million businesses” where payment collection automatically credited on due dates. - Awarded “Best Escrow Platform in Asia” - Introduced India’s first escrow account via WhatsApp As we step into our 10th year, our dedication to innovation, excellence, and delivering top-notch services remains steadfast. We look forward to the future with enthusiasm, ready to embrace new opportunities and continue our journey of success. This achievement wouldn’t have been possible without the unwavering support of our dedicated team, loyal customers, valued partners, and investors. We are proud to be the oldest, first authorised and largest distributor of digital trust. Thank you for being a crucial part of our story. Here’s to many more years of growth and success together! Here’s to more Trust, Transparency and simplicity in financial transactions #10YearsStrong #Anniversary #Grateful #LookingForward

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S Anand unveils the dawn of a new era in finance through his insightful views on the rise of open banking opportunities & challenges for Financial Institutions in SugerMint Through vivid explanations, he paints a picture of how open banking is reshaping the way consumers interact with financial institutions, ensuring greater control and flexibility over their financial lives. Read more to find out the implications of open banking in today's rapidly evolving financial world #PaySprint #openbanking #Sugermint #OpenbankingAPIs #APIsolution #financialmanagement #apiprovider #bankingapi #apibanking #apiservices #bankingservices #digitalbanking #paymentsolution #digitalpayments #digitalindia

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Powerful insights from latest ABSL summit 💪💪💪

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It’s the “year of elections” and brutal for incumbents, from the UK to India and now Japan. Each one is different yet common threads include post-pandemic competence and inflation. Will the BIG ONE in the U.S. next week break trend? And let’s not overlook a series of Canadian provinces that are daring to test the mood. Expect a new chapter of economic policies and restraint. The age of “build back better” is gone. “Manage the here and now better” is here.  https://lnkd.in/gXrK3XKe

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Psychological safety, an interesting and enriching perspective

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NPCI elevates BHIM with Strategic Spin-Off; Lalitha Nataraj takes helm as CEO The National Payments Corporation Of India (NPCI) is taking significant steps to bolster the domestic digital payments ecosystem by spinning off its Bharat Interface for Money (#BHIM) app into a separate subsidiary with a renewed focus on expanding its reach as a payments application. This strategic move is aimed at reducing the concentration risk in the Unified Payments Interface (#UPI) market, currently dominated by foreign players like Walmart-backed PhonePe and Google Pay, which together account for 85% of UPI transactions in India. This decision has received backing from both the government and the Reserve Bank of India (RBI) as both have been pushing to promote the app. Lalitha Nataraj, with previous experience at IDFC FIRST Bank and ICICI Bank, has been appointed as the CEO of the new entity. BHIM’s share in the market remains minimal, with just 22.72 million transactions conducted via the app in June. This accounted for just 0.16 per cent of the overall UPI volumes. Therefore, the NPCI is taking up this decision in an attempt to reduce the reliance on foreign players in the market and strengthen the domestic brand. Notably, BHIM was launched earlier in 2016 by PM Narendra Modi. The app will continue to operate under the NPCI brand, but it will see some operational changes. Once the app becomes a separate entity, it will have individual balance sheets, financial statements, and other structures I wholeheartedly congratulate Lalitha Nataraj on her new role as CEO of BHIM's standalone subsidiary. Her extensive experience and leadership will undoubtedly drive BHIM towards greater heights, reinforcing its pivotal role in India’s digital payments landscape. Ram Rastogi 🇮🇳 Indian Bank Association Reserve Bank Innovation Hub (RBIH) NPCI International Payments Limited (NIPL) Network People Services Technologies Ltd. (NPST- Banking and Payment Solutions) NPCI Bharat BillPay Ltd. Department of Finance Dilip Modi Praveena Rai Dilip Asbe Business Correspondent Federation of India (BCFI)

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