Ankit Ratan

Thanks Bismah and Inc42 Media for the insightful coverage and deep dive into the vital role of operator VCs! Bismah's thoughtful analysis underscores the growing need for operator VCs in today's startup landscape. As an operator VC , I've witnessed firsthand how founders increasingly value more than just capital. They seek partners who bring operational expertise, strategic guidance, and an extensive network to the table. These elements are crucial for driving sustainable growth and navigating the complexities of scaling a business. At GrowthCap Ventures , we understand the unique challenges faced by early-stage startups, which is why we prioritize offering not just funding, but also hands-on support and access to our extensive network. Together, we're empowering founders to realize their vision and build transformative businesses. #OperatorVC #StartupEcosystem #Gratitude

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The Reserve Bank of India (#RBI) has launched three major initiatives: the PRAVAAH portal, the Retail Direct Mobile App, and a FinTech Repository. - *#PRAVAAH Portal**: This portal facilitates online applications for various regulatory approvals, improving the efficiency of the RBI’s approval processes. It currently includes 60 application forms covering different regulatory and supervisory departments, along with a general-purpose form for unique requests. - *#Retail Direct Mobile App**: This app provides retail investors with seamless access to the retail direct platform, simplifying transactions in government securities (G-Secs). - *#FinTech Repository**: This repository collects comprehensive information on the Indian FinTech sector, aiding regulatory understanding and policy formulation. It captures details about FinTech entities, their activities, and technology usage, and invites contributions from both regulated and unregulated entities. - #EmTech Repository**: Launched alongside, this repository focuses on RBI-regulated entities such as banks and NBFCs, documenting their adoption of emerging technologies like #AI, #ML, #cloud computing, #DLT, and #quantum computing. The RBI encourages active contributions from #FinTechs and #regulated entities to these repositories.

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Our team at NiVa did a ground level survey with appx 800+ merchants across Pune , Delhi-NCR and Bangalore for various payment apps and in one of our insights about various payments apps we can see Paytm winning with huge margins across various metrics After reviewing the data , it's clear that Paytm is leading across all categories compared to other digital payment platforms like PhonePe, Cred, Google Pay, and Bharatpe. Fast Payments: Paytm has the highest bar with 85.7%, indicating it is the most preferred option for fast payments. Less Fraud: Paytm also tops the chart with 82.9% for being perceived as the most secure and fraud-resistant payment method. Service: In terms of customer service and support 88.6% , Paytm is ranked the highest by users. Less Fees: Paytm is considered the most affordable option with 48.6% with the lowest transaction fees. Multiple Payment Options: Paytm offers the widest range of payment choices with 88.6%, catering to diverse user preferences. The data unambiguously shows that Paytm outperforms its competitors across all the factors analyzed, including speed, security, service, affordability, and payment flexibility. It emerges as the dominant player in the digital payments space based on this comprehensive user preference study. This remarkable dominance holds valuable lessons for other players, including the up-and-coming NiVa platform. Firstly, prioritizing user experience is paramount – Paytm's seamless interface and rapid payment processing have struck a chord with consumers. Secondly, engendering trust through robust security measures and fraud prevention is non-negotiable in the fintech realm. Furthermore, Paytm's commitment to customer support and reasonable pricing has cultivated loyalty, underscoring the importance of putting users first. Lastly, offering a diverse range of payment options caters to varied preferences, expanding the user base. As NiVa aims to carve its niche, emulating Paytm's user-centric approach, technological prowess, and innovation in areas like security and payment diversity could be game-changers. In the fiercely competitive digital payments arena, learning from the industry leader may pave the way for NiVa's success. Vijay Shekhar Sharma Kudos to you and your team at PayTm !! #paytmkaro #fintech

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Exciting news from the Reserve Bank of India (RBI)! The RBI is setting up the Digital India Trust Agency (#DIGITA) to combat cyber fraud and regulate illegal digital lending apps. This initiative aims to verify digital lending apps, ensuring they meet stringent standards to protect consumers from fraudulent activities. Key Highlights: Verification of digital lending apps to ensure compliance with legal and ethical standards. Maintenance of a public register of verified apps for consumer safety. Collaboration with the IT Ministry and Google to enforce stricter app store policies. At Jukshio, we are at the forefront of AI-powered fraud detection and KYC solutions. Our expertise can significantly support DIGITA’s mission by providing: - Automated KYC Verification: Ensures rapid and accurate onboarding of legitimate apps. - Real-Time Fraud Detection: Identifies and mitigates fraudulent activities swiftly. - Dynamic Risk Profiling: Continuously adapts to emerging threats in the digital lending landscape. Together, we can create a safer and more transparent digital lending environment in India. Let's work towards safeguarding consumers and enhancing trust in digital financial services. #CyberSecurity #DigitalLending #FinTech #KYC #FraudPrevention #RBI #Jukshio

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A grand gathering for India's trade community at Global Trade Review (GTR) 2024 Mumbai yesterday. Focused discussions around: -  Challenges and innovating solutions in facilitating trade and payments in India. - GIFT City ecosystem offering a gateway for global capital and financial services within India. - Trade Finance products, Open accounts, digitisation and end-to-end trade solutions. - Receivables and factoring solutions. - Supply chain finance in India - ESG initiatives and compliances. And lots more. As India evolves to reach higher ground with robust demand by new business in the services industry as well as rising manufacturing output and new orders, the technology, financial and regulatory ecosystem is being significantly overhauled and enhanced. Great effort by Global Trade Review (GTR), banks, fintechs and coporates in highlighting the current development and future growth strategies. Bank of America Barclays Standard Chartered Sumitomo Mitsui Banking Corporation – SMBC Group Emirates NBD First Abu Dhabi Bank (FAB) Citi HDFC Bank ICICI Bank YES BANK QNB Group RMB - Rand Merchant Bank Manish Bharucha Jai Shah Prem Thampi #tradefinance #tradetech #gtr2024 #globaltrade #exportimport #banktech #regtech #tradecompliance #supplychain #digitaltrade

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National Payments Corporation Of India (NPCI) Guidelines on Merchant Acquisition for BHIM Aadhaar Pay Here's a breakdown of the key points: - Banks Responsible for BHIM Aadhaar Pay Merchants - Banks are fully responsible for onboarding and managing merchants for BHIM Aadhaar Pay (digital payments using Aadhaar biometrics). - This includes direct onboarding or via approved aggregators/partners. Key Bank Requirements - Defined policies for merchant acquisition. - Agreements with all involved parties (merchant, aggregator, etc). - Thorough merchant underwriting processes. - Ongoing merchant portfolio monitoring and risk mitigation. - Merchant training on BHIM Aadhaar Pay. - Oversight and governance for third-party agents involved. Additional Rules - Assigning the correct Merchant Category Code (MCC) based on the nature of the business. Specific MCCs related to cash services are not allowed for BHIM Aadhaar Pay. - Cash withdrawal transactions are strictly prohibited on BHIM Aadhaar Pay. - Banks must ensure compliance with Aadhaar regulations and NPCI guidelines. A copy of the full NPCI Guidelines with Annexure A is attached to this post for reference. #paymenttech #innovation #npci #fintech #banking

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Co-lead a workshop (with Sumathi my business partner and Komal lath of Tute Consult) on branding and communication and why/how its' strategic & important for the portfolio companies of an early stage growth focused PE fund in Mumbai this noon. very interactive session. lots of takeaways. one of the biggest benefits of doing such workshops with founders and CXOs of growth companies is that you get to first hand understand their pain points and priorities. which makes you realize there is a long road ahead laden with great opportunity for those in PR & comms if we take off our hats and look at it from their perspective.

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The RBI has introduced new digital lending guidelines aimed at ensuring transparency, protecting customer interests, and preventing malpractices in digital lending. These guidelines require digital lenders to follow stricter protocols regarding customer data privacy, fair lending practices, and grievance redressal mechanisms.   The RBI has increased the risk weights for unsecured personal loans to ensure that lenders maintain adequate capital buffers. This measure aims to enhance the financial stability of lending institutions but also imposes additional compliance costs on fintech firms that primarily offer unsecured loans.   The rising cost of compliance is a significant concern for smaller non-banking financial companies. For many of these smaller players, compliance costs have doubled, creating financial pressure. However, some NBFCs report that their business growth has balanced out the increased compliance expenses, maintaining operational sustainability for now.  

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Congrats to Zingly.ai, Gaurav Passi and the entire team on their launch. We are proud to be investors from Day 1. This is once in a decade style opportunity. It's 2024, and You and I, as customers, still continue to struggle with 1-800 numbers, ineffective AI Chatbots and spelling our names, account numbers and other info over and over again ... It's time to change all that. Zingly lets a business's customers drive the experience they want as they want it (quick answer from AI or a real conversation with human agents or a hybrid), how they want it (text, audio, video), and from any device without having to repeat info over and over again - all from a single personalized Zingly Room. Sounds obvious! But the best ideas are the simple obvious ones! #FutureOfCX #AIRevolution #CustomerExperience #Startups #Entrepreneurship #VentureCapital https://lnkd.in/gV9mk7je

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TRUECALLER'S "TAKE THE RIGHT CALL": A MASTERCLASS IN RURAL EXPANSION 📞🌾 In 2015, Truecaller, a popular caller ID app, had over 80 million users in India, mainly in urban areas. Their #service, known for blocking spam calls, was less relevant in rural regions due to lesser #smartphone usage. The #telecom sector, however, was on the brink of a revolution with the due arrival of Jio, promising a surge in rural smartphone users 📱🚀. #Truecaller surely needed a fresh strategy to seize this opportunity. ++++The Challenge: Redefining Value in Rural India 🌄++++ Spam calls were then primarily an urban concern. Truecaller had to rework on its #valueproposition for a rural audience which did not have this as a concern for which Truecaller would have been a solution. ++++Here comes ‘Take the Right Call!’ 📞✨++++ This innovative campaign, featuring actor Nawazuddin Siddiqui, marked a significant strategic shift. Here's how it expertly leveraged the 6Ms of #marketing: #Market: Truecaller targeted Tier 2 and Tier 3 cities in India, aiming to expand their reach beyond urban centers 🌆➡️🏘️. #Mission: They #repositioned themselves as a "Call Identification Application," emphasizing the benefits of identifying unknown callers, not just blocking #spam 📲✅. #Money: Truecaller invested strategically, reportedly allocating ₹6-8 crore to a multi-channel #campaign (TV, radio, digital) to maximize exposure in rural markets 💰📺📻💻. #Message: The core message, "Don't miss important calls!" struck a chord with rural audiences. Using Nawauddin's relatable story, they showcased Truecaller as a tool for seizing #opportunities, not merely for spam prevention 📞➡️💼. #Medium: A well-planned media mix was crucial. Television #commercials aired on Hindi movie, music, and news channels for broad appeal. Radio spots further extended the reach with targeted digital campaigns ensuring deeper engagement 📺📻🌐. The campaign even capitalized on the popular India-Sri Lanka #cricket series for wider #viewership 🏏📣. #Measurement: Not much of data is available for how good the campaign did but Truecaller likely saw a surge in #appdownloads, user #engagement, and #brand #sentiment which were clear indicator of the campaign's success. Likely increased number of downloads and activity in Tier 2/3 regions indicated effective expansion 📈📊. The campaign too ensured Truecaller a golden victory in #EffieAwards as well as exchange4media awards. By leveraging the 6Ms and adapting their value proposition, Truecaller's ‘Take the Right Call’ campaign became a #masterclass in rural market #expansion, paving the way for their sustained #growth in the country. Sourav Borah Rajat Sharma Sanjay Verma Indian Institute of Management Ahmedabad IIM Ahmedabad - Armed Forces Programme (AFP 23)

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The proposed licensing regime for POS operators by the RBI aims to enhance regulatory oversight and address concerns regarding cash loans, data storage practices, and fund management in the offline payments ecosystem. This move underscores the importance of ensuring a secure and level playing field for all players in the financial services sector

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Launch of PRAVAAH, RBI Retail Direct Mobile Application and FinTech Repository Reserve Bank of India launched 3 major initiatives ,namely the PRAVAAH portal, the Retail Direct Mobile App and a FinTech Repository These three initiatives were earlier announced as part of RBI’s bi-monthly Statement on Development and Regulatory Policies in April 2023, April 2024 and December 2023 respectively. 1) The PRAVAAH portal will make it convenient for any individual or entity to apply online for various regulatory approvals in a seamless manner. This portal will also enhance the efficiency of various processes related to granting of regulatory approvals and clearances by the Reserve Bank. 2) The Retail Direct Mobile App will provide retail investors a seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs). 3) The Fintech Repository will contain information on Indian FinTech Sector for a better understanding of the sector from a regulatory perspective and facilitate in designing appropriate policy approaches. Reserve Bank Innovation Hub (RBIH); IFTAS - Indian Financial Technology & Allied Services

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State Licensing vs Bank Sponsorship Which is better? There is no right answer. At Onbo by Stilt Inc., we were state licensed, and after our acquisition, we led integrations with bank sponsors for lending and banking products. Here's how the 2 approaches compare: 𝗟𝗮𝘂𝗻𝗰𝗵 State Licensing: It’s easy to launch. Some states have a simple application process and almost no costs. Depending on your product, you can even launch without a license. Bank Sponsorship: Have high setup costs + takes time and resources. Requires significant work at launch. 𝗖𝗼𝘀𝘁𝘀 State Licensing: There are no material operating costs, no monthly minimums, and a lower cost structure. Bank Sponsorship: Has higher setup costs, monthly minimums, oversight costs, frequent audits, etc. 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 State Licensing: States have different usury limits and requirements. e.g. no origination fees, max X% APR resulting in a non-standardized product. No option to offer products like credit cards. Bank Sponsorship: Standardized product across all 50 states. Product parameters could be limited by the bank's charter location. e.g. NJ has max 30% APR. 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 State Licensing: Depending on the state, limited compliance requirements are specific to your product. A few federal regulators like the CFPB also have oversight. Bank Sponsorship: Higher compliance requirements including oversight from OCC, FDIC, etc. 𝗖𝗹𝗼𝘀𝗲𝗱-𝗲𝗻𝗱 𝗮𝗻𝗱 𝗥𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀 State Licensing: Multiple states haven’t contemplated revolving credit products. Sometimes, the rates and usury limits could be different for these products. Bank Sponsorship: Revolving products operate within the same framework as the closed-end products. Simpler to expand the product suite. 𝗦𝗲𝗿𝘃𝗶𝗰𝗶𝗻𝗴 𝗮𝗻𝗱 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝗼𝗻𝘀 State Licensing: No servicing licenses are needed because the lender is the servicer. Bank Sponsorship: Require additional servicing licenses in 40+ states unless the bank is the master servicer. 𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 State Licensing: States have clear annual reporting requirements either through NMLS or through their own portal. Bank Sponsorship: Bank sponsors require monthly, quarterly, and annual reporting as a part of their monitoring and oversight program. 𝗗𝗲𝗯𝘁 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝗶𝗲𝘀 State Licensing: No limitations on raising debt facilities. No reporting is required unless it's a part of annual audits. Bank Sponsorship: Bank sponsors will want a say in approving the documents and participation in the loan facilities. 𝗔𝘂𝗱𝗶𝘁 𝗖𝗼𝘀𝘁𝘀 State Licensing: Most states audit annually or at a predefined schedule. Generally, the costs are either zero or not onerous. Bank Sponsorship: Bank sponsors have significant auditing requirements across multiple areas including but not limited to fair lending, compliance auditing, and financial audits. Read more stuff like this: https://lnkd.in/gzM_4Ye5

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RBI Takes Bold Step: Fintech Self-Regulation Comes of Age in India The Reserve Bank of India (RBI) just dropped a bombshell for the fintech world – final guidelines for self-regulatory organizations (SROs). This is HUGE news, especially with the explosive growth of fintech in India sparking concerns about customer protection, data privacy, and cybersecurity. What's the Big Deal? Industry-Led Standards: Fintechs now have the power to create their own rulebook. This means standards tailored to the unique needs and challenges of the sector. Enhanced Transparency and Accountability: SROs will be responsible for monitoring and enforcing these standards, ensuring that everyone plays by the rules. Building Trust: By taking ownership of regulation, fintechs can build trust with customers and regulators alike. Why Now? The timing couldn't be more perfect. With the surging demand for digital payments and lending, the need for a robust regulatory framework is paramount. The RBI's move is a clear signal that they're committed to fostering innovation while safeguarding consumer interests. My Take This is a watershed moment for fintech in India. It marks a shift towards a more collaborative and proactive approach to regulation. While it's still early days, I'm optimistic about the potential impact of SROs. For fintechs: This is your chance to shape the future of your industry. Embrace this opportunity to demonstrate your commitment to responsible innovation. For consumers: This could mean better protection, more transparency, and a more vibrant fintech ecosystem. What's Next? I'm eager to see how the industry responds to these guidelines. Will multiple SROs emerge? How will they address the diverse needs of the sector? Only time will tell, but one thing's for sure: the fintech landscape in India is about to get a whole lot more interesting. #RBI #Fintech #SelfRegulation #India #Innovation #CustomerProtection #DataPrivacy #Cybersecurity #LinkedInNews BharatPe Google CRED FinTech

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At Rio we are building a credit card but building any product requires deep user understanding. So who really are the existing credit card users in India? We break it down into four cohorts, The Convenience Users, Short Term Limit Users, The EMI Converter and The Revolver. The Convenience Seekers are consumers who prioritize convenience and often use their credit card for large purchases, and always paying their balances in full each month to avoid interest charges. Cashback or rewards cards are what attracts them towards choice of cards. They may never need anything related to “credit” in the card.  The Short term limit users need the credit card for paying their non discretionary/everyday purchases for managing their cash flows effectively. They mostly pay their balances full in each month, but depend on the Credit limit to ease out monthly payments. They may occasionally not be able to pay their balances fully. This forms the largest part of the “Transactors” Base (i.e - Those who repay Credit Card bills on time).  The EMI Converters are consumers who want to have an affordability for bigger-ticket purchases. For them, splitting their purchases into manageable monthly instalments, and credit cards with low or no-cost EMI options become their go-to choice. Finally, the Revolvers are consumers who tend to carry a balance on their credit card quite often, and depend on cards which may have lower fees or charges. For credit cards, a one-size-fits-all approach rarely exists. So which credit card consumer do you see most around you?    www.rio.money #creditcards

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With a large chunk of India's per capita boost coming in from Tier 2 and Tier 3 non-urban clusters, the need to unblock affordability is more acute now than ever. Fit in the fact that the per capita income would still continue to stay below 5L per annum well upto 2030 and #emi as a lucrative growth lever becomes even more clear. The average online shopper would continue to be price and affordability sensitive. This is also reflected at how Amazon continues to leverage #emi as a dominant feature on it's PDP and checkout pages both. Sometimes the price callout itself being the EMI offered! This is where we at Snapmint step in. ✔️ Approval rates that enable true affordability ✔️ Credit penetration at thin credit zones ✔️ Increase AOV and overall GMV ✔️ Superlative EMI checkout experience ✔️ Reassuring post purchase support for your shoppers Click to know more: www.snapmint.com Abhineet Sawa Ram Prasad #d2c #ecommerce #upi #gmv #aov

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🚨 Early product-market fit (PMF) in the Indian market can be deceptive, according to Norwest Venture Partners’ Niren Shah, an early investor in Swiggy and Five-Star Business Finance Limited. "We have seen people achieve early PMF. However, they have to change the pricing when they try to build some margin. While doing so, they end up changing consumer segments...you move away from your initial PMF and need to rebuild," according to Shah. Shah has been investing in India for the last two decades. Over the last 5-6 years, Norwest has started focusing on late-stage investments. A large part of Norwest's portfolio is also traditional businesses in areas like healthcare and financial services. The firm has invested close to $500 million in India over the last two years, during the funding winter. Long interview with Shah on why he now prefers mid- to late-stage businesses, how Norwest has pursued non-tech deals and the state of Indian unicorns https://lnkd.in/gVfk5Dyz

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The Reserve Bank of India (RBI) has released preliminary guidelines for payment aggregators (PAs) aimed at enhancing digital trust, fostering ethical practices, and ensuring a fair competition environment for both online and offline payment service providers. Key points: - Entities that are not banks and provide point of sale (POS) services are required to inform the RBI within 60 days and submit their applications by May 2025 to seek approval for ongoing operations. - A minimum net worth of INR 25 Cr is mandatory for obtaining a PA license. - The RBI has specified the Know Your Customer (#KYC) procedures for PAs to handle merchant KYC. - A shared Escrow account can be utilized for both PA-O and PA-P activities. - More stringent customer due diligence measures will be enforced to ensure that only eligible merchants are brought onboard. - The rights of data storage are limited to card issuers and card networks only. What will be the impact of new guidelines on speed of onboarding and cost implications for payment aggregators? Do leave a comment! #RBI #PaymentAggregator #PA #PointofSale #onlinepayment #Offlinepayment https://buff.ly/3Js6DYc

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