The document discusses the National Payments Corporation of India (NPCI), an umbrella organization established to operate retail payment systems in India. It was incorporated in 2008 with the objectives of consolidating existing payment systems and facilitating affordable payment mechanisms. NPCI operates various national payment systems, including the National Financial Switch for ATM transactions, RuPay for domestic debit and credit cards, Immediate Payment Service (IMPS) for mobile fund transfers, the Cheque Truncation System (CTS) and National Automated Clearing House (NACH) for bulk transactions. The organization aims to provide standardized and interoperable payments infrastructure across the country.
Presentation given by A.V.V. Prasad, Additional commissioner (Admin, IT & Smart Cards), Govt. of Andhra Pradesh on August 3rd, 2011 at eWorld Forum (www.eworldforum.net) in the session ICT in Financial Inclusion, Taxation, Excise and Finance
- The document discusses Reserve Bank of India's efforts to promote financial inclusion through the Business Correspondent (BC) model, which allows banks to provide services in unbanked rural areas through retail agents.
- It summarizes a case study on the implementation of the BC model by State Bank of India and Syndicate Bank in Khajipet Mandal, Andhra Pradesh, finding that both banks have seen growing enrollments and transactions through BCs over time, though SBI has higher enrollments despite starting operations later.
- Key aspects of the BC model discussed include selection criteria for BCs, products offered, liquidity management, and monitoring systems employed by the two banks.
To watch full video click on the link below-
https://youtu.be/RRgkQ7lSdqM
NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking Association (IBA) is an umbrella organization for operating retail payments and settlement systems in India.
It functions under provision of Payment and Settlement Systems Act, 2007.
It is a not-for-profit organization set up under the provisions of Section 25 of Companies Act, 1956 (amended as Sec 8 of Companies Act 2013).
Facilitates easy access to online payment services with variety of banking products and services.
Products offered by NPCI
IMPS (Immediate Payment Service) is an instant payment inter-bank electronic funds transfer system in India. Unlike NEFT and RTGS, the service is available 24*7 throughout the year.
NFS (National Financial Switch) is the largest network of shared ATMs in India facilitating convenience banking.
AePS (Aadhaar-enabled Payment Service) is a bank led model that allows financial transaction at PoS of any bank using the Aadhaar authentication through the retail merchant.
CTS (Cheque Truncation System) facilitates uses of digital signature or encryption methods to prevent manipulation of data during transition of cheque clearance.
UPI (Unique Payments Interface) is a system that makes multiple bank accounts to be accessed from a single mobile application using mobile no. or UPI id as unique transaction address.
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Subscribe to DevTech Finance
The document proposes a 4-phase plan for banks to improve access to banking services for rural residents in Bihar, India without significant new infrastructure investment. Phase 1 involves distributing ID cards and setting up a local headquarters. Phase 2 rolls out infrastructure like converting public call offices and ration centers into banking access points. Phase 3 integrates villages by promoting the services. Phase 4 focuses on expansion and making the system scalable by adding services like insurance and introducing mobile and internet banking.
National Payments Corporation of India (NPCI) is a not-for-profit organization established in 2008 to consolidate and integrate various retail payment systems in India and enable interoperable digital financial transactions. It aims to provide standardized and uniform payment systems. NPCI owns and operates core retail payment systems used by banks such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), RuPay, National Financial Switch (NFS) and Bharat Bill Payment System. NPCI is promoted by the Reserve Bank of India and owned by major Indian banks. It works to develop infrastructure and facilitate innovation in payments and settlement systems to drive greater financial inclusion in
This presentation gives an overview about how is India progressing into making UN's Vision 2020 goal (of financial inclusion) a reality.
It's a technology breakthrough India has been achieved in combat to score financial data security in 21st century and independence from reliance over other nations to provide multilateral system of payments in India.
Common Service Centers (CSCs) are access points for delivering e-governance services to rural areas in India, including government, private, and social services. CSCs aim to contribute to a digitally and financially inclusive society. Services offered through CSCs include banking, insurance, passport, education, healthcare, bill payment, and more. There are over 100,000 CSCs across India managed by Village Level Entrepreneurs that provide these important services to rural citizens.
The document discusses the National Payments Corporation of India (NPCI), an umbrella organization established to operate retail payment systems in India. It was incorporated in 2008 with the objectives of consolidating existing payment systems and facilitating affordable payment mechanisms. NPCI operates various national payment systems, including the National Financial Switch for ATM transactions, RuPay for domestic debit and credit cards, Immediate Payment Service (IMPS) for mobile fund transfers, the Cheque Truncation System (CTS) and National Automated Clearing House (NACH) for bulk transactions. The organization aims to provide standardized and interoperable payments infrastructure across the country.
Presentation given by A.V.V. Prasad, Additional commissioner (Admin, IT & Smart Cards), Govt. of Andhra Pradesh on August 3rd, 2011 at eWorld Forum (www.eworldforum.net) in the session ICT in Financial Inclusion, Taxation, Excise and Finance
- The document discusses Reserve Bank of India's efforts to promote financial inclusion through the Business Correspondent (BC) model, which allows banks to provide services in unbanked rural areas through retail agents.
- It summarizes a case study on the implementation of the BC model by State Bank of India and Syndicate Bank in Khajipet Mandal, Andhra Pradesh, finding that both banks have seen growing enrollments and transactions through BCs over time, though SBI has higher enrollments despite starting operations later.
- Key aspects of the BC model discussed include selection criteria for BCs, products offered, liquidity management, and monitoring systems employed by the two banks.
To watch full video click on the link below-
https://youtu.be/RRgkQ7lSdqM
NPCI, an initiative of the Reserve Bank of India (RBI) and Indian Banking Association (IBA) is an umbrella organization for operating retail payments and settlement systems in India.
It functions under provision of Payment and Settlement Systems Act, 2007.
It is a not-for-profit organization set up under the provisions of Section 25 of Companies Act, 1956 (amended as Sec 8 of Companies Act 2013).
Facilitates easy access to online payment services with variety of banking products and services.
Products offered by NPCI
IMPS (Immediate Payment Service) is an instant payment inter-bank electronic funds transfer system in India. Unlike NEFT and RTGS, the service is available 24*7 throughout the year.
NFS (National Financial Switch) is the largest network of shared ATMs in India facilitating convenience banking.
AePS (Aadhaar-enabled Payment Service) is a bank led model that allows financial transaction at PoS of any bank using the Aadhaar authentication through the retail merchant.
CTS (Cheque Truncation System) facilitates uses of digital signature or encryption methods to prevent manipulation of data during transition of cheque clearance.
UPI (Unique Payments Interface) is a system that makes multiple bank accounts to be accessed from a single mobile application using mobile no. or UPI id as unique transaction address.
Thank you for Watching
Subscribe to DevTech Finance
The document proposes a 4-phase plan for banks to improve access to banking services for rural residents in Bihar, India without significant new infrastructure investment. Phase 1 involves distributing ID cards and setting up a local headquarters. Phase 2 rolls out infrastructure like converting public call offices and ration centers into banking access points. Phase 3 integrates villages by promoting the services. Phase 4 focuses on expansion and making the system scalable by adding services like insurance and introducing mobile and internet banking.
National Payments Corporation of India (NPCI) is a not-for-profit organization established in 2008 to consolidate and integrate various retail payment systems in India and enable interoperable digital financial transactions. It aims to provide standardized and uniform payment systems. NPCI owns and operates core retail payment systems used by banks such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), RuPay, National Financial Switch (NFS) and Bharat Bill Payment System. NPCI is promoted by the Reserve Bank of India and owned by major Indian banks. It works to develop infrastructure and facilitate innovation in payments and settlement systems to drive greater financial inclusion in
This presentation gives an overview about how is India progressing into making UN's Vision 2020 goal (of financial inclusion) a reality.
It's a technology breakthrough India has been achieved in combat to score financial data security in 21st century and independence from reliance over other nations to provide multilateral system of payments in India.
Common Service Centers (CSCs) are access points for delivering e-governance services to rural areas in India, including government, private, and social services. CSCs aim to contribute to a digitally and financially inclusive society. Services offered through CSCs include banking, insurance, passport, education, healthcare, bill payment, and more. There are over 100,000 CSCs across India managed by Village Level Entrepreneurs that provide these important services to rural citizens.
The Reserve Bank of India set up the Khan Commission in 2004 to address financial inclusion. The commission's recommendations were incorporated into the bank's 2005-06 policy review. The RBI exhorted banks to make basic "no-frills" accounts available with low or no minimum balances and charges to increase access for more people. Initiatives like no-frills accounts, relaxed KYC norms, business correspondents, use of technology, adoption of EBT, and general credit cards were implemented to promote greater financial inclusion in India. However, illiteracy, low incomes, and lack of bank branches in rural areas continue to pose challenges.
Payments banks is a new model of banks conceptualized by the Reserve Bank of India (RBI) . These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks.
Payments banks can issue services like ATM cards, debit cards, net-banking and mobile-banking.
These banks will aim at providing high volume-low value transactions in deposits and Payments / remittance services in a secured technology-enabled environment.
For quick service click: https://enterslice.com/payments-banks-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
Email: info@enterslice.com
Website: www.enterslice.com
Payment banks have the potential to revolutionize retail banking in India by increasing competition and expanding access to financial services. Licensed payment banks, including those run by telecom companies and India Post, can perform many regular banking functions but are restricted from lending. This model is expected to drive down costs, transform welfare programs through partnerships with Aadhaar and mobile technology, increase cashless transactions, reduce black money, and provide the government with cheaper borrowing. Payment banks may also attract customers through higher deposit interest rates, discounts, and free services in the initial phase as competition in the banking sector intensifies.
The Reserve Bank of India has proposed major reforms in banking sector with issue of guidelines for setting up “Small and Payment Banks” which will cater to marginalized sections of the Society, including migrant laborers, for collecting deposits and remitting funds.
These banks will provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation. The payments banks will offer a limited range of products such as acceptance of demand deposits and remittances of funds. They will have a widespread network of access points particularly in remote areas, either through their own branch network or through Business Correspondents (BCs)/agents or through networks provided by others.
Payment banks in India were introduced to increase financial inclusion and provide basic banking services to underserved populations. The Reserve Bank of India issued guidelines in 2014 allowing for licensing of payment banks. Payment banks can accept deposits up to Rs. 100,000 but cannot issue loans or credit cards. They must invest customer funds in low-risk government securities and provide remittance, debit card, and digital payment services. Eleven entities received licenses in 2015 to operate as payment banks with the goal of serving small businesses, migrants, and low-income households across India through innovative technology and business correspondent models.
This document provides an outline of topics related to payment banks in India. It defines payment banks as stripped-down commercial banks that aim to reach customers through mobile phones rather than branches. The key objectives of payment banks are to increase financial inclusion for underbanked groups. Payment banks can accept deposits up to 1 lakh rupees per customer, issue debit cards, and charge fees for services, but cannot engage in lending. Major players setting up payment banks in India include Airtel and Paytm.
White paper payment banks - changing landscape of retail bankingRSM India
The RBI has recently decided to grant in-principle approval to 11 applicants for setting up ‘Payment Banks.’ This move is to enhance financial inclusion by providing access to small saving accounts and payments, migrant labour work force, small businesses in unorganized sectors, etc. The payment banks are expected to use high technology platform to provide services at low cost, thereby redefining the retail banking landscape.
We are pleased to attach our White Paper: ‘Payment Banks – Changing Landscape of Retail Banking’ and trust you will find the same useful.
Prepaid Wallet License in India. Semi Closed Wallet, Closed Wallet Like Paytm etc. With Case studies.
For quick service click: https://enterslice.com/prepaid-wallet-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
Email: info@enterslice.com
Website: www.enterslice.com
This ppt you could find RBI's move for setting-up payment banks-India Post which received a license will be a big competitor for other banks,SBI-RIL tie-up for payment bank,RBI's next move on small-finance banks,,creation of around 25,000jobs in Indian economy due to new banks
Role of New Payment banks and Small banks - Part - 6Resurgent India
RBI as a part of its push for financial inclusion, recently granted ‘in-principle’ licenses for 11 payment banks and 10 small finance banks. Apart from this, the two new universal banks- Bandhan Bank Ltd and IDFC Bank Ltd which were awarded banking licenses by the RBI recently have already begun commercial operations.
The document discusses payment banks in India. Payment banks will help further financial inclusion by providing small savings accounts and payment/remittance services. They can accept deposits up to Rs. 1 lakh and enable digital payments and money transfers through mobile phones. Eleven firms have been granted licenses to start payment banks, including telecom and retail companies. Payment banks have the potential to transform financial services access for underserved populations by leveraging technology and existing customer bases.
The document discusses payment banks in India. Payment banks are a new type of bank allowed by the Reserve Bank of India to promote financial inclusion through basic banking services delivered mainly via mobile phones. In 2015, 11 entities received in-principle approval to start payment banks, including telecom and retail companies. Payment banks have restrictions on services but can accept deposits up to Rs. 1 lakh per account. They are expected to increase access to banking, lower costs, and change how ordinary Indians use banking.
This document provides recommendations for accelerating direct benefit transfer (DBT) and financial inclusion in India. Key recommendations include: 1) appointing dedicated officers for financial inclusion at rural bank branches; 2) using Aadhaar as the platform to lead DBT and financial inclusion efforts; 3) having customer service providers (CSPs) based in each village to act as business correspondents. Additional recommendations focus on using technology to enable transactions, ensuring interoperability across banks and agents, and leveraging Aadhaar for identity verification and account opening to facilitate financial inclusion.
National e-Transaction Count - I P S Sethi, Sr Technical Director, National I...eGov Magazine
The document discusses eTaal, an electronic transaction aggregation and analysis portal developed by the Government of India to measure and monitor e-governance performance. It summarizes eTaal's objectives of providing a consolidated view of e-transactions, describes its technical architecture and governance structure. The document also outlines features being incorporated in the new eTaal 2.0 version such as a weighted average system, e-service directory, local language interface, state portals and a mobile app to analyze transaction quality alongside quantity.
This document provides an overview of Axis Bank, one of India's largest private sector banks. It was established in 1993 and began operations in 1994. The bank was jointly promoted by several large public sector financial institutions. It has grown significantly over the past two decades and as of 2015 had over 2500 branches across India and several international offices. The document provides details on Axis Bank's business activities, subsidiaries, and financial performance to give context and background on the organization.
Presentation given by A.V.V. Prasad, Additional commissioner (Admin, IT & Smart Cards), Govt. of Andhra Pradesh on August 3rd, 2011 at eWorld Forum (www.eworldforum.net) in the session ICT in Financial Inclusion, Taxation, Excise and Finance
The Reserve Bank of India set up the Khan Commission in 2004 to address financial inclusion. The commission's recommendations were incorporated into the bank's 2005-06 policy review. The RBI exhorted banks to make basic "no-frills" accounts available with low or no minimum balances and charges to increase access for more people. Initiatives like no-frills accounts, relaxed KYC norms, business correspondents, use of technology, adoption of EBT, and general credit cards were implemented to promote greater financial inclusion in India. However, illiteracy, low incomes, and lack of bank branches in rural areas continue to pose challenges.
Payments banks is a new model of banks conceptualized by the Reserve Bank of India (RBI) . These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks.
Payments banks can issue services like ATM cards, debit cards, net-banking and mobile-banking.
These banks will aim at providing high volume-low value transactions in deposits and Payments / remittance services in a secured technology-enabled environment.
For quick service click: https://enterslice.com/payments-banks-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
Email: info@enterslice.com
Website: www.enterslice.com
Payment banks have the potential to revolutionize retail banking in India by increasing competition and expanding access to financial services. Licensed payment banks, including those run by telecom companies and India Post, can perform many regular banking functions but are restricted from lending. This model is expected to drive down costs, transform welfare programs through partnerships with Aadhaar and mobile technology, increase cashless transactions, reduce black money, and provide the government with cheaper borrowing. Payment banks may also attract customers through higher deposit interest rates, discounts, and free services in the initial phase as competition in the banking sector intensifies.
The Reserve Bank of India has proposed major reforms in banking sector with issue of guidelines for setting up “Small and Payment Banks” which will cater to marginalized sections of the Society, including migrant laborers, for collecting deposits and remitting funds.
These banks will provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation. The payments banks will offer a limited range of products such as acceptance of demand deposits and remittances of funds. They will have a widespread network of access points particularly in remote areas, either through their own branch network or through Business Correspondents (BCs)/agents or through networks provided by others.
Payment banks in India were introduced to increase financial inclusion and provide basic banking services to underserved populations. The Reserve Bank of India issued guidelines in 2014 allowing for licensing of payment banks. Payment banks can accept deposits up to Rs. 100,000 but cannot issue loans or credit cards. They must invest customer funds in low-risk government securities and provide remittance, debit card, and digital payment services. Eleven entities received licenses in 2015 to operate as payment banks with the goal of serving small businesses, migrants, and low-income households across India through innovative technology and business correspondent models.
This document provides an outline of topics related to payment banks in India. It defines payment banks as stripped-down commercial banks that aim to reach customers through mobile phones rather than branches. The key objectives of payment banks are to increase financial inclusion for underbanked groups. Payment banks can accept deposits up to 1 lakh rupees per customer, issue debit cards, and charge fees for services, but cannot engage in lending. Major players setting up payment banks in India include Airtel and Paytm.
White paper payment banks - changing landscape of retail bankingRSM India
The RBI has recently decided to grant in-principle approval to 11 applicants for setting up ‘Payment Banks.’ This move is to enhance financial inclusion by providing access to small saving accounts and payments, migrant labour work force, small businesses in unorganized sectors, etc. The payment banks are expected to use high technology platform to provide services at low cost, thereby redefining the retail banking landscape.
We are pleased to attach our White Paper: ‘Payment Banks – Changing Landscape of Retail Banking’ and trust you will find the same useful.
Prepaid Wallet License in India. Semi Closed Wallet, Closed Wallet Like Paytm etc. With Case studies.
For quick service click: https://enterslice.com/prepaid-wallet-license
GET FREE CONSULTANCY
Helpline: +91 9069142028
Email: info@enterslice.com
Website: www.enterslice.com
This ppt you could find RBI's move for setting-up payment banks-India Post which received a license will be a big competitor for other banks,SBI-RIL tie-up for payment bank,RBI's next move on small-finance banks,,creation of around 25,000jobs in Indian economy due to new banks
Role of New Payment banks and Small banks - Part - 6Resurgent India
RBI as a part of its push for financial inclusion, recently granted ‘in-principle’ licenses for 11 payment banks and 10 small finance banks. Apart from this, the two new universal banks- Bandhan Bank Ltd and IDFC Bank Ltd which were awarded banking licenses by the RBI recently have already begun commercial operations.
The document discusses payment banks in India. Payment banks will help further financial inclusion by providing small savings accounts and payment/remittance services. They can accept deposits up to Rs. 1 lakh and enable digital payments and money transfers through mobile phones. Eleven firms have been granted licenses to start payment banks, including telecom and retail companies. Payment banks have the potential to transform financial services access for underserved populations by leveraging technology and existing customer bases.
The document discusses payment banks in India. Payment banks are a new type of bank allowed by the Reserve Bank of India to promote financial inclusion through basic banking services delivered mainly via mobile phones. In 2015, 11 entities received in-principle approval to start payment banks, including telecom and retail companies. Payment banks have restrictions on services but can accept deposits up to Rs. 1 lakh per account. They are expected to increase access to banking, lower costs, and change how ordinary Indians use banking.
This document provides recommendations for accelerating direct benefit transfer (DBT) and financial inclusion in India. Key recommendations include: 1) appointing dedicated officers for financial inclusion at rural bank branches; 2) using Aadhaar as the platform to lead DBT and financial inclusion efforts; 3) having customer service providers (CSPs) based in each village to act as business correspondents. Additional recommendations focus on using technology to enable transactions, ensuring interoperability across banks and agents, and leveraging Aadhaar for identity verification and account opening to facilitate financial inclusion.
National e-Transaction Count - I P S Sethi, Sr Technical Director, National I...eGov Magazine
The document discusses eTaal, an electronic transaction aggregation and analysis portal developed by the Government of India to measure and monitor e-governance performance. It summarizes eTaal's objectives of providing a consolidated view of e-transactions, describes its technical architecture and governance structure. The document also outlines features being incorporated in the new eTaal 2.0 version such as a weighted average system, e-service directory, local language interface, state portals and a mobile app to analyze transaction quality alongside quantity.
This document provides an overview of Axis Bank, one of India's largest private sector banks. It was established in 1993 and began operations in 1994. The bank was jointly promoted by several large public sector financial institutions. It has grown significantly over the past two decades and as of 2015 had over 2500 branches across India and several international offices. The document provides details on Axis Bank's business activities, subsidiaries, and financial performance to give context and background on the organization.
Presentation given by A.V.V. Prasad, Additional commissioner (Admin, IT & Smart Cards), Govt. of Andhra Pradesh on August 3rd, 2011 at eWorld Forum (www.eworldforum.net) in the session ICT in Financial Inclusion, Taxation, Excise and Finance
Common Service Centers (CSCs) are access points for delivering electronic services to rural villages in India. They are strategically important for Digital India as they enable access to services, digital infrastructure, and digital literacy. CSCs deliver a wide range of government, private, and social services including banking, insurance, education courses, bill payment, healthcare services via telemedicine, and more. They aim to boost digital and financial inclusion across India.
Marketing strategies for rural banking servicesSachin7443
This document discusses marketing strategies for rural banking services in India. It notes that rural banking started with the establishment of the banking sector in India and mainly focused on the agricultural sector. There are over 14475 rural banks in India, with over 2126 located in remote rural areas. The document recommends that banks provide more financial inclusion and use of microcredit/self-help groups. It also suggests using new technologies, alternative distribution channels, and improving service levels in rural areas. The government is asked to establish an authority for rural banking and a strategic action plan for remittance facilities between banks and post offices. Banks should expand their reach through partnerships and kiosk banking, educate customers, be cost-effective through low-cost AT
Digital Banking for PSU banks in IndiaRohan Bharaj
This documents highlights the importance of Digital banking for PSU banks in India. In this digitally enhanced age, it is of utmost importance for PSU banks to be up to date with the latest technology.
This document provides an overview of Andhra Pradesh's smart card project for rural development. The objectives are to increase banking access for the poor, ensure timely benefits delivery, and achieve total financial inclusion. Banks set up the infrastructure using service providers and business correspondents. Over 142 lakh beneficiaries have been enrolled across 22 districts, with payments starting in over 19,000 villages. The roles of various stakeholders like banks, government departments, and business correspondents are also outlined.
The document outlines a smart card program in India that aims to promote financial inclusion. It discusses objectives to expand banking access to rural poor, ensure timely benefits delivery, and reduce fraud. A multi-phase approach is described involving enrolling beneficiaries, issuing smart cards, appointing business correspondents, and enabling payments and services at the village level using biometric authentication. Implementation progress highlights over 100 million cards issued and over $2 billion in payments processed across 23 districts.
The document summarizes the Mahiti-Shakti Nagarik Sashaktikaran project, which implemented 80 community information kiosks across Panchmahals district of Gujarat to provide citizens access to government information and services. The kiosks leverage existing infrastructure like STD/PCOs and dairies to provide a single window for forms, schemes, maps and other resources. Training and workshops helped kiosk operators sustain the self-sufficient model, which has processed over 19,000 transactions. The project aims to empower citizens through transparency, right to information and demystifying government offices.
The document outlines a digital payment awareness campaign with the objectives of enrolling 25 lakh merchants and 1 crore citizens across India's 250,000 panchayats. It discusses promoting digital payments through common service centers and various stakeholders. The benefits of a cashless economy are described, along with an implementation roadmap including training programs and support cells. Various digital payment methods like UPI, IMPS, wallets, and Aadhaar payments are explained in detail.
Role of Technology in driving Financial Inclusion 2016 - Part - 5Resurgent India
The banking sector has made rapid strides largely because of the rapid advancement of technology. Automated teller machines, internet and mobile banking, payment wallets, and other advancements have made significant improvements to consumer experience and have also helped banks widen their reach.
Recent initiatives of the government in financial inclusionMohit Jane
Recently there are too many steps taken to initiate the Financial Inclusion in India. Such steps helpful to inculcate every other single person via electronic means.
Bank correspondent system through venture capital participation b.v.raghunandanSVS College
The document discusses the emergence of venture capital (VC) participation in business correspondents (BCs) in India. It notes that while non-VC models faced issues like lack of business skills and low commissions, VCs can help address these by acting as an interface between banks and BCs, providing technology, capital, and oversight of BCs. It provides the example of SEED, a Delhi-based VC that partnered with 19 banks as a BC, opening over 15 lakh accounts through a workforce of 3500 employees. VCs generate revenue through account opening fees, transaction commissions, and commissions on product sales. However, recent microfinance troubles and RBI regulations pose ongoing challenges.
Case Study On The Growing Saga of E - Payment SystemVARUN KESAVAN
Every country has a financial system of its own that serves as backbone of its entire development. A financial system is a set of institutional arrangements through which financial surplus in the economy is mobilized from surplus units and transferred to deficit spenders. The financial system of any country consists of banking and non banking financial institutes, these institutes are providing various types of financial services to the customers. In the financial services, financial clearing and fund transfer service is most important service than other services. Payment systems improve financial intelligibility, stimulating business growth and consumption .The success of the banking system has depends upon the efficient and quality of clearing system of the industry. If we overlook the worldwide this system has changing drastically with technological advancements. Last few years evident that, Information and Communication Technology (ICT) have become a mean for improvement of financial system worldwide. In India, most of banks and financial institutions are offering ICT based financial products and services to improve their business efficiency and speed of services e.g. called e - banking, internet banking, electronic fund transfer, electronic clearing, mobile banking etc.
The document discusses financial sector reforms and e-banking in India. It outlines the development of payment systems and their importance to modern financial systems. E-banking enables strategic benefits like enhancing knowledge, improving customer service, strengthening governance, and ensuring efficiency. Information technology plays a key role in the banking sector by providing information and infrastructure. Key aspects of IT in banking include balancing costs, control, and customer service. Emerging payment systems in India range from basic checks and drafts to sophisticated electronic funds transfers in real-time. Popular e-banking products discussed are NEFT, RTGS, ATMs, mobile banking, and electronic clearing services. Adoption of e-banking brings overall benefits but India still has progress
The document discusses rural banking in India and the need to address it for sustainable growth. It notes that over 500 million Indians still lack bank accounts and that rural areas represent about 50% of India's GDP. While banking networks have expanded, rural banking still faces challenges of regulation designed for urban areas and high staffing needs for distribution in rural contexts. Microfinance and self-help groups are discussed as approaches to expanding rural access to financial services.
The Reserve Bank of India plays a key role in developing and regulating payment systems in India. It has established the Board for Regulation and Supervision of Payment and Settlement Systems, which sets policies and standards. The Payment and Settlement Systems Act of 2007 requires central bank authorization for any entity operating a payment system. The Reserve Bank has authorized various systems and introduced initiatives to promote electronic payments like NEFT, RTGS, and pre-paid payment instruments, while still supporting paper-based payments given their continued importance. It aims to develop safe, efficient payment options suitable for India's large geographic scale and banking network.
The document provides statistics and information on the fintech landscape in Indonesia. Some key points:
- Indonesia has a population of 261 million people, with 143 million using the internet and 130 million active social media users. Mobile penetration is high at 415 million subscriptions.
- Total fintech investment in 2017 was $176 million and the fintech market transaction value is projected to reach $22 billion in 2018, growing at an annual rate of 16.3%.
- The largest fintech sectors are payments (38%), lending (31%) and personal finance (8%). The regulatory environment involves oversight by the Central Bank of Indonesia, Indonesia Financial Services Authority and Ministry of Communication and Informatics.
Presentation given by Ranbir Das, Vice President- UID Initiatives, SREI SAHAJ e-Village Limited, India on August 1st, 2011 at eWorld Forum (www.eworldforum.net) in the session Telecentres: Effective Approaches and Best Practices
Financial Crime and Investigation- Finacial FraudsJayakumar PP
Financial Fraud and crime investigation to law enforcement agencies. This document will give complete picture on online payment methods in India, various payment schemes. precautionary measures while doing digital and online payments. Different types of financial frauds reported. How to mitigate financial frauds. Tips for investigating officers. Including Credit card and debit card and its scams. Cover various sections related with IPC and Information Technology section for taking action against fraudsters. Modus of operand for Financial Fraud. Internet and cyber space evolution. Internet connectivity evolution. IoT and its ecosystem.
Blockchain technology and logistics managementJayakumar PP
Basic understanding of Blockchain Technology. Give special focus to the application of blockchain in Logistics Management and Supply chain. It covers the following topics
Introduction to the blockchain, The current situation in the logistics industry, The Blockchain technology - the paradigm shifter in logistics, Block Chian Technology - Explain technology aspects and features, Basics on Blockchain security, Blockchain capabilities and its advantages to the logistics industry, Value-added to the industry, Implementation challenges, Finally with the conclusion and one best practice with ship chain company.
The document summarizes the Akshaya project in Kerala, India, which aimed to bridge the digital divide and bring IT access to rural communities. It discusses how the project was launched in 2002 in Malappuram district inspired by PURA, with the goal of making at least one person per family electronically literate. By 2004, Akshaya achieved this goal and expanded statewide. It established local e-centers run by entrepreneurs to provide services like bill payment, tax filing, and e-learning opportunities. Over time, Akshaya grew to become one of the world's largest telecenter networks and helped advance e-governance initiatives across Kerala.
This document provides an overview of cyber space and the opportunities and threats it presents. It discusses the evolution of cyber space and the internet. It defines internet of things (IoT) and provides examples of how IoT is used in daily life like e-governance services, social media, and mobile apps. It also outlines some of the threats in cyber space like cyber crimes, financial fraud, hacking, and piracy. It emphasizes that awareness is the best tool to avoid becoming a victim of cyber crimes.
Project planning is essential for software projects. It involves estimating the work, resources, and time required. Key planning activities include defining problems and requirements, developing solution strategies, and planning development processes. Requirements planning is especially important - it helps eliminate defects by gaining user involvement, understanding critical needs, and considering non-functional requirements. Empirical studies show most firms plan feasibility and costs, though risk management practices vary. Thorough early planning is needed to estimate schedules, efforts, people and resources needed for a project's success.
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https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
2. About “AKSHAYA”
Launched in 2002 as an e-Literacy initiative set up by Kerala State IT
Mission and spread out across the state by 2007
Transformed itself as ICT Citizen Service Delivery chain by end of the
decade
2621 Akshaya e-Centres across Kerala - 87% in rural areas
Monitoring and handholding provided by offices at state and district
levels
Delivering G2C and B2C online services to the citizens - focus on
segments who cannot afford to access online services by themselves
3. About “AKSHAYA”
PPP Model - entrepreneurs (ACEs) selected through recruitment
process to run Akshaya e-Centres at locations proposed by LSGI
Creating rural economic development and employment opportunities
Joined with with CSC SPV - the initiative of GoI for online service
delivery to add further to the bundle of services – 200 plus services
Opening up online service delivery to rural masses - thereby empowering
Governments and Business Enterprises to make more services
available through Internet
UID Enrolment Agency with proven record for quality - one of the best in
the country – 700 + UID Stations, 1.75 Crore enrollments.
4. Objectives of Service delivery through Akshaya
To bring out ICT access to all geographical and economic
segments of the population to lead the society towards
• improved quality of life
• accessibility to information - from govt and market without
exploitation or corruption and at minimum cost
• transparency in governance
• overall socio-economic growth
Akshaya made government more accessible to the people as it’s friendly face
5. Infrastructure and reach of Akshaya
• Limited the no. of Akshaya centres per LSGI - Min. distance
of 2km between two centres
• Three tier process for selection of ACEs - coordinated by
LSGI, District Administration and KSITM
• Minimum specification 300 sq. ft. space, 3 computers, high
speed internet, peripherals like printer, scanner, webcam etc
• Monitoring and handholding at state & district levels
• Transparent tariff/commissions system designed for services
6. Connecting to the Financial Inclusion Mission..
Department of Financial Services issued
guidelines to all the Public Sector Banks on 20th
December, 2012 regarding engagement of CSCs
as BCAs
2013 April - Akshaya joined the mission as a
natural choice for the banking sector of the state -
entered into SLA with 13 leading Banks for
opening Banking Kiosks at Akshaya e-Centres
Target - no frills bank accounts for citizens who are not yet part of banking
. With the launch of Pradhan Mantri Jan-Dhan Yojna (PMJDY) in August, 2014, the CSCs as
Bank Mitras / Banking Correspondent Agent (BCA) at the Gram Panchayat level have
now become the extended arm of the Banks. These BCAs have a vital role in successful
implementation of Financial Inclusion and PMJDY.
7. Objectives of Financial Inclusion
Delivering banking outside branches, to doorstep of citizens
Enabling transactions through bank and make it preferred over cash
transactions
Enabling common man for transparent DBT of grants, subsidies and
scholarships
Making fair cost credit accessible to the poor and check exploitation of private
moneylenders
Making savings & investment opportunities accessible to poor and giving
financial awareness
8. Kiosk Banking vs. Traditional Banking
More accessible to citizen - more no. of points of presence than bank branches
Akshaya centres are more approachable for low volume transactors and the service
aligns well with the general objectives of Akshaya Project
Reduces footfall at bank branches
Secure transactions by fingerprint authentication of customer (AEPS) as well as
operator - even for account opening
No need of passbook or even account number for banking transactions
Micro-ATMs for card based transactions
Account opening also paperless via e-KYC
Administrative costs saved for banking transactions
At bank branch Rs. 60/- whereas at kiosks its a maximum of Rs. 25 per transaction
9. Banking Kiosks - for sustainable business
Even as more and more government and business transactions switch to the
online track, the common service centre model in Kerala would be saturated
faster than other states - owing to excellent penetration of Broadband and
Mobile Internet which enables citizens to avail online services on their own
Anticipating this slow down in near future it was important for Akshaya to
explore new avenues of service beyond e-Governance
Financial Services industry is experiencing a boom like never before as a result
of FI initiatives and increasing financial awareness of citizens
With financial businesses trying to increase their Points of Presence at lower
costs; banking and insurance correspondence was seen as a key component
for establishing a long term sustainable business model for Akshaya
10. Over the hurdles - challenges dealt with..
Finding ACEs with aptitude for banking and imparting them necessary skills
Orientation training and IIBF Certification provided to ACEs with the support of Lead Banks
Lack of support / Inertia from banking personnel at grass root level
FI orientation and meetings b/w Akshaya and Bank Managers to create awareness of RBI and
GoI policies towards establishment of banking kiosk
Akshaya made a part of State Level Banking Committee
Lack of public acceptance being a third party handling banking
Block Level Banking Committees coordinating public meetings to introduce Kiosks
Recognized signages and unique Kiosk Codes supplied
Hesitation of target population to enter banking system
11. Paper to Plot: Implementation
Banks create necessary software infrastructure - portals & specifications
ACEs are selected on the basis of their interest and directed towards training
and certification at district level by Lead Bank and Akshaya District Office
Kiosk Code, User Credentials and Settlement account provided by the banks to
the kiosk operators (ACEs)
Hardware and software requirements at kiosk implemented by ACEs under the
guidelines and assistance from Banks
Target population of 1.25 Cr. - Unorganized labourers, MNREGA workers,
beneficiaries of social welfare schemes
12. Monitoring & Control Mechanisms
Commissions at fixed rates paid by bank through account on a monthly basis
Constant monitoring and technical support provided by exclusive FI wing of
Akshaya with points of contact at state and district levels - resolution of basic
technical issues faced by KOs undertaken by Akshaya Dist Offices
Akshaya District Office, Lead Bank, DLBC and BLBCs work together for proper
implementation and resolving issues at local level
Seamless liaison between State HQs of the Banks and Akshaya Project Office
on policy level decisions and overall monitoring of the project
13. Banking Products tailored for the common man
Zero balance savings account - limited to individuals
who do not have a/c
AEPS based transactions upto Rs. 10000
Fund transfer (NEFT) upto Rs. 10,000
IMPS upto Rs.10,000
Loan repayments
RD Accounts
Insurance and Pension Enrolment and Remittances
Card transactions with micro-ATM/Pinpad
14. Association with Banks
SBT and SBI together account for
over 70% kiosks
Both the banks together account for
84% of transactions and 65% of
total accounts opened for Kiosks
Over 95% Aadhaar Enabled
Payments made through State
Bank Kiosks
Canara, KGB, PNB, Federal, Vijaya,
South Indian among others
16. Success of Banking Service Delivery
Many localities that did not have bank branches in nearby vicinity were able to
access banking services closer by - eg. Mankulam (Idukki dist-W. Ghats)
2 lakh lakh SB accounts opened through Kiosks
RD account penetration increased
PMJDY - Over one lakh accounts opened through Akshaya Banking Kiosks
PMSBY, APY - high penetration with the help of Akshaya Kiosks
25 Cr. worth transactions completed
5 Cr. worth deposits generated from rural areas
Avg Rs. 4000 earned by Kiosks as commission
17. Future of Banking Kiosks
Enhance transaction volumes through kiosks
Revision of transaction/Balance limits for kiosk opened accounts to
accommodate more customers and improve business volume
Add more banking products to the offerings including those outside current
target group - thus to enhance business viability for Kiosk Operators
IMPS and micro-ATM already enabled
Credit processing at subsidized rates to sectors like farming through kiosks
Establish banking kiosks at all Akshaya Centres by arranging financial as well
as skill acquisition assistance
Promotion and distribution of other govt pension and insurance schemes