Abhishek Kumar

How did UPI played crucial role during the COVID-19 pandemic and processed over 100 billion transaction? Unified Payments Interface (UPI) has revolutionized digital transactions in India, making them instant, accessible, and secure. But how exactly does this massive system work? Let's decode it. 𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗼𝗻𝗲𝗻𝘁𝘀 𝗼𝗳 𝗨𝗣𝗜: 👨‍💻 𝗨𝘀𝗲𝗿: Initiates and receives payments through a UPI app (Gpay, PhonePe, etc.) 💰 𝗣𝗦𝗣: Connects UPI apps to NPCI and may offer additional services. 💼 𝗡𝗣𝗖𝗜: Operates the central switch, routing payments and managing communication. 🏦 𝗜𝘀𝘀𝘂𝗲𝗿 𝗕𝗮𝗻𝗸: Holds the user's funds and debits the account upon authorization. 🏦 𝗕𝗲𝗻𝗲𝗳𝗶𝗰𝗶𝗮𝗿𝘆 𝗕𝗮𝗻𝗸: Credits the recipient's account upon receiving the payment. 𝗧𝗵𝗲 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗙𝗹𝗼𝘄: 📋 𝗥𝗲𝗴𝗶𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 [𝟭] Initiate Registration, Payer create Virtual Payment Address (VPA) via their PSP. [𝟮] VPA creation request is sent to the VPA Management Service [𝟯] VPA is created & Payer is registered. 💲 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 [𝟰] Enter the amount and Payee's UPI ID or scan their QR code in payer's PSP app. 💁🏼 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻  [𝟱] Payer's PSP authorize the payment using MPIN and sends a payment request to the NPCI UPI Network 🚦 𝗣𝗮𝘆𝗲𝗲 𝗩𝗮𝗹𝗶𝗱𝗮𝘁𝗶𝗼𝗻 [𝟲] NPCI UPI Network requests payee details from the Payee PSP. [𝟳] Payee PSP validates the details and responds to the NPCI UPI Network. 💰 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗶𝗻𝗴 [𝟴] NPCI UPI Network sends a debit request to the Issuer Bank. [𝟵] Issuer Bank responds to the NPCI UPI Network with the bank response. [𝟭𝟬] NPCI UPI Network sends a credit request to the Beneficiary Bank. [𝟭𝟭] Beneficiary Bank responds to the NPCI UPI Network with the bank response. 💱 𝗖𝗼𝗺𝗽𝗹𝗲𝘁𝗶𝗼𝗻 𝗼𝗳 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 [𝟭𝟮] NPCI UPI Network sends a payment credit/debit response to the Payee/Payer PSP respectively. 🔔 𝗡𝗼𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 [𝟭𝟯] Payee and the Payer receive notifications about the successful transaction. UPI's innovative design and robust infrastructure have made it a game-changer for digital payments in India. 🔔 Follow Rajiv Ranjan to get more system design & architecture content. ♻ Repost to help others find it. #softwarearchitecture #systemdesign #softwareengineering #upi #digitalpayment

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#startups | #payments | #ecommerce | #zomato : Why did Zomato surrender its Payment Aggregator and withdraw its application for PPI License? Zomato does not see itself having a significant competitive advantage against incumbents in the payments space. Business in payments isn't viable for Zomato at this stage.

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All the ESOP holders out there! Know more about ESOP LIQUIDATION 💰 Follow Vega Equity - ESOP & Captable Mgt. page to get updated and unveil more options

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🚨 MakeMyTrip has hit a $9 billion market capitalisation, with share price going up 3x in the last 12 months 🛫 🏨 India's largest online travel firm was listed on Nasdaq in 2010. On Wednesday, it reported a record net profit of $172 million 💰 A chronology of its share price August 2010: IPO at $14 per share December 2022: Hits $28 - 2x since IPO in over 12 years January 2023: Declares first net profit May 2024: Share price reaches $85 - 3x in the last 12 months #onlinetravel #makemytrip #ota #profit #valuation #cashflow #nasdaq https://lnkd.in/dNCrtuBD

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In times of crisis, the true culture of an organization comes to the forefront. It’s a period when leadership is tested, and the values we stand for are put into action. As leaders, we must own our role in guiding our teams with empathy, resilience, and clarity. When we prioritize our people and their well-being, we build a stronger, more united organization that can weather any storm. Let’s lead with integrity and compassion, ensuring our culture shines brightest when it’s needed the most. #Leadership #OrganizationalCulture #CrisisManagement #EmployeeEngagement #EmpathyInLeadership

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📉 The Fall of BYJU'S: A Cautionary Tale for Indian Parents As Byju's valuation plummets from a staggering $22 billion to virtually zero (ref in the comments section), it becomes imperative to examine the practices that have led to such a downfall. Unfortunately, these are not just corporate missteps but issues that deeply affect individual lives, particularly those of unsuspecting parents in Tier 2 and Tier 3 towns. One such case involves my relative, who has been entangled in an ordeal with Byju's that perfectly encapsulates the company's current troubles. Despite raising a cancellation request in April'24, Byju's has continued to charge them for both April and May (June they could not deduct because my relative did not put enough money in it). The BYJU'S support staff, which should be a beacon of assistance, has been unresponsive and unhelpful. This negligence has forced my relative to consider closing their primary bank account, a drastic step that disrupts their everyday transactions and financial stability. As per their support staff - they can not assure whether this deduction will stop or not even when the cancellation request has been raised, hence they are left with no choice but to close their primary bank account. Even after closing the bank account, my relative is still being relentlessly chased by Byju's recovery department to pay the subscription fees/emi. The tone and persistence of these recovery agents resemble that of extortionists, putting immense mental pressure on my relative. This aggressive and harassing behavior is unacceptable and further underscores the company's operational failures. Support Ticket # - 5910087 Such practices are not just administrative lapses but a betrayal of trust. Byju's was once seen as a revolutionary force in education, promising quality learning to children across India. However, the company's inability to handle basic customer service issues speaks volumes about its operational failures. Parents, particularly in Tier 2 and Tier 3 cities, invest in educational services like Byju's with the hope of securing a better future for their children. It is disheartening to see these very families being taken advantage of and left in distress. This erosion of trust is perhaps one of the fundamental reasons behind Byju's precipitous decline in valuation. 🛑 Parents, please exercise caution when dealing with Byju's. Always read the fine print and ensure you understand the terms and conditions before committing to any service. Your vigilance is the first line of defense against such malpractices. #Byjus #CustomerService #Education #EthicsInBusiness #Trust #IndianParents

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A cautionary tale for e-grocery startups in India! ... Remember PepperTap? The online grocery delivery app that promised to save us from those fear of queues and limited parking? They were like a knight in shining armor...until they weren't. ️ So, what went wrong? Here's the lowdown: - Discounting themselves to death: PepperTap tried to win us over with deals we couldn't refuse. But these discounts ate into their profits, making it hard to stay afloat. - LESSON: Discounts are great for customers, but there needs to be a sustainable business model behind them. - Scaling too fast, failing too hard: They expanded like crazy before they were ready. This led to tech glitches and a messy user experience. Think of Items disappearing from your cart like magic (the bad kind). - LESSON: Slow and steady wins the race, especially when it comes to building a solid tech infrastructure. - Misunderstanding the Indian market ‍‍‍: PepperTap forgot that for many Indians, grocery shopping is a social activity. We bump into neighbors, pick up fresh produce, and enjoy the whole experience. Turns out, not everyone wanted groceries delivered to their doorstep. - LESSON: Understanding your target market is crucial. Don't underestimate the power of tradition (and fresh air)! - High costs, low returns: Outsourcing inventory management and logistics added up quickly. Delivery fees, especially in smaller cities, were just too high for budget-conscious customers. - LESSON: There's no shortcut to efficiency. Building a strong internal system or finding the right partners is key. PepperTap's story is a valuable lesson for anyone venturing into the e-grocery space in India. Here's to learning from the past and building a grocery shopping experience that Indians truly love! #egrocery #startupindia #PepperTap #failureresilience #learningfrommistakes

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Why should you join a growth company or a startup instead of a company that just gives you a regular 7-10% appraisal every year? If you had joined Nvidia as a Sr. Software engineer (IC4) 5 years back, just the value of the equity you would have received would be ~ 56 Crores today. 42L stocks/year (levels.fyi) * 4 years * 33.5x (growth over 5 years) Now imagine how long would it take you to make this money if you had joined a stable company that would consistently give you 7-10% appraisal every year.

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Google leases a ~650,000 sq ft office space in Bangalore for ~$500,000/mo to expand its presence in India! Context: Google has leased a new office space at Alembic City in Bangalore for a monthly rent of $0.74 per sq ft for 3 years as part of its expansion strategy. In 2022, Google renewed a rental pact for 600,000 sq ft office space in Hyderabad. In the same deal, they leased a 1.3 million sq ft office in Bangalore. This is the tech firm’s proactive strategy of leasing both traditional and flexible office spaces in major Indian cities to strengthen its presence. Today, Google has a presence of 9.3 million sq ft of real estate footprint in 5 cities across India! Since 2020, Google’s office space portfolio in India has increased by 3.5 million sq ft. Google is also investing big in India to manufacture Pixel smartphones as well as drones at facilities of Foxconn. Google will launch the Pixel 8 model in India soon. …. Please re-share this post so it helps more people! 🙏 Finally, if you’re an immigrant in America, join 15,000+ who get my weekly newsletter packed with breaking news & free resources like this: https://lnkd.in/gKtUGU-r :) #unshackled #immigration #USA #india #Google #jobs

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Are you a Voter or a Vote Bank? As India is going through the general elections, the air is thick with debates – much like trying to dodge your manager on a Friday evening. But amidst the noise of assumptions, logical fallacies, and the infamous 'WhatsApp University,' how do we make informed decisions? Let's start with some common debate pointers vs what data says: 1: Fuel price and inflation skyrocketed just in the last 10 years. Here are some common indicators: Average CPI Inflation: 2004-2009: 9.1% 2009-2014: 9.4% 2014-2019: 3.4% 2019-2024: 5.9% Average food inflation: 2004-2009: 12.3% 2009-2014: 11.9% 2014-2019: 0.7% 2014-2024: 7.1% Lets also look at Petrol Price: 2004: INR 35 2014: INR 72 (>100% up) 2024: INR 100 (~40% up) 2. Economy grew faster in the last 10 years: Let's look at some of the indicators: GDP growth rate: 2004-2014: 6.8% (including 2008-09 global recession) 2014-2024: 5.7% (including black swan events like Covid) GDP per capita: 2004-2014: 50% rise using inflation adjustment, 204% increase at absolute value 2014-2024: 43.6% rise using inflation adjustment, 114% increase at absolute value USD to INR: 2004-2014: INR 43 to INR 60 (~39% drop) 2014-2024: INR 60 to INR 83 (~39% drop) Debt to GDP Ratio: 2014: 67% 2024: 82% Non performing assets: 2014:INR 5 Lakh Crore, Write-off: INR 32000 crore 2024: INR 20 Lakh Crore, Write-off: INR 14.56 lakh crore Foreign Direct Investment: 2005-2014: ~USD 280 Bn 2014-2023: ~USD 596 Bn Forex Reserve: 2004-05: USD 141 Bn (22% of GDP) 2014-15: USD 341 Bn (16.3% of GDP) 2024: USD 642 Bn (17.4% of GDP) All this data has been collected from available sources of Govt. of India, RBI, IMF, World Bank, and media reports of credible media houses. There are more indicators, more perspectives, and more arguments. These data points and trends will definitely help you cut through the noise of debates and be more aware. Data and analytics can be a strong tool to make comparisons of different governments on quantifiable topics. It can equally be used to disguise you from the real fact. My attempt is in no way to hide/disguise but to reveal the truth to the best of my knowledge. You can add your perspective in the comments to enrich it. Why I wrote this post: I generally have an inclination in reading and learning about socio-economic and political affairs in my leisure time. In my professional work, I do data and AI day in and day out. So I thought of using some of my off-hours to do comparisons of governments between 2004-2014 vs. 2014-2024 to make decisions like a voter rather than a vote bank. I will deep dive into other governance parameters to compare 2004-2014 vs. 2014-2024 in the next 30 days. All these will be purely based on numbers, no opinions, no arguments. PS: Nothing in for or against any ideology or party. It will be just my thoughts and analysis in my leisure time. You can share your views in the comments. You can correct the data in comments. #India

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😱 Scary. Har kisi ko jaldi Hai!!💰 Dream11, a sports betting app focused on short-term money gains through sheer gambling, boasts nearly 200 million users. In stark contrast, the number of mutual fund investors in India stands at only 40 million. This disparity sheds light on a concerning trend: many people are swayed by the allure of quick money, often overlooking the importance of long-term wealth creation. While the thrill of instant gratification can be tempting, it's crucial to recognize the value of steady, disciplined investment strategies that mutual funds offer. Let's encourage more conversations about financial literacy and the benefits of informed, long-term investing. Wealth creation isn't about quick wins; it's about building a secure and prosperous future. #FinancialLiteracy #WealthCreation #Investing #MutualFunds #money #investment #FinancialAwareness #InvestmentStrategies #LongTermGrowth

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If you are into investments/markets, and aren't aware about what's happening with Nvidia, you are surely living under a rock A CAGR of 75%+ in last 10 years 400%+ in last 5 years 100%+ in last 3 years 200%+ in last 1 year These are not some numbers you can say "wow" and just move on. These are really mind shattering numbers. And this is not like a BSE listed operator driven company. It has been built on a serious 20 year+ long vision by the founder. And it's now the most valuable company of the world. Where Google, Amazon and Apple have been racing for #1 position for ages, imagine a player comes from 100th+ position and in 2-3 years just surpasses everyone to be leading. Just like Aamir Khan in Jo Jeeta Wahi Sikandar 🤣 I've been reading and hearing a lot of stories of employees who are retiring by age of 35/40, even younger. They have minted millions through ESOPs already. A trouble sign for the company if all great talent retires and leaves early. Drawbacks of success hehehe. I had first heard about Nvidia in 2006 during my Computer Science Engineering when batchmates interest in gaming, wanted to buy Nvidia graphics card for their systems. Little was I aware then that it will become this behemoth. It's an investment miss from my side, just like so many companies in hindsight 😂 But what amazing stories to hear from friends and their friends who have bought 4-5 houses in tier 1 and 2 cities in last 1 year and many more assets 😄 Incredible story. Power of ESOPs if in the right company.

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📢 Rental Challenges in Bangalore: Rent prices in Bangalore are on the rise, with an average increase of nearly 30% since 2022. For example, rents in areas near tech parks have surged by over 35%. Meanwhile, salary increments have dipped to 9.7%, exacerbating the affordability crisis. With disposable incomes shrinking and rental expenses soaring, many residents are feeling the financial strain. #BangaloreRentals #AffordabilityCrisis #RealEstate #RealEstateNews #IndiaRealEstate #Bengaluru #NewProjects #VVpropnews #Venandventures #Propnewsbyvenandventures #bangalorereality #Propertynews #BangaloreLiving #RentingStruggles

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