About
As a career banker with 29 years of experience (1980-2009) and a pivotal role as Head of…
Services
Articles by Ram
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Gold Loans in India: Current Status, Growth, Challenges, and Regulatory Reforms
Gold Loans in India: Current Status, Growth, Challenges, and Regulatory Reforms
Gold loans have become a significant segment of India’s secured lending market, driven by a cultural attachment to gold…
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TRAI eases 'SMS Whitelisting Norms' to Reduce Disruptions: A Crucial step for 'Seamless Digital Payments'
TRAI eases 'SMS Whitelisting Norms' to Reduce Disruptions: A Crucial step for 'Seamless Digital Payments'
The Telecom Regulatory Authority of India (TRAI) has taken a vital step to address service disruptions in SMS-based…
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The Future of AI in India: Revolutionizing Industry, Society, and Economy
The Future of AI in India: Revolutionizing Industry, Society, and Economy
Artificial Intelligence (AI) is positioned to be a transformative force across multiple sectors globally, and India…
4 Comments
Contributions
Experience
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Education
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Courses attended
• Indian Institute of Management Luchnow , 2006, MDP for Senior Bankers,
• Indian Institute of Management Lucknow , 2002, Program on Leadership for Bankers,
• XLRI, 2000, Management Development Program on Relationship Marketing,
• NatWest Bank, 1998, Training course for Overseas Bankers,
• Tata Management Training Centre, 1997, Program on Managerial Effectiveness. -
Licenses & Certifications
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Qualified Online Proficiency Self Assessment Test for Independent Directors
Indian Institute of Corporate Affairs
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Projects
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Unified Payment Interface (UPI)
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It is an improvised version of IMPS on messaging platform ISO 20020 with various add an facility like Tokenisation ( Virtual Address ) , Pull Transactions , Device Finger Printing as a 3rd Factor of Authenitication , e-mandate and Invoice in a Box.
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National Unified USSD Platform (NUUP)
- Present
National Unified USDD Platform (NUUP) :
NUUP is another service innovations of NPCI dedicated to the Nation by our Prime Minister , Mr. Narendra Modi on 28th August 2014 , as a common mobile banking platform on USSD channel for offering basic banking services including real time ,24*7 remittance service-IMPS to 75 million account holders being opened under ,”Prime Minister ‘s Jan Dhan Yojana” (PMJDY) in the remotest part of the country. This project is envisaged as one of…National Unified USDD Platform (NUUP) :
NUUP is another service innovations of NPCI dedicated to the Nation by our Prime Minister , Mr. Narendra Modi on 28th August 2014 , as a common mobile banking platform on USSD channel for offering basic banking services including real time ,24*7 remittance service-IMPS to 75 million account holders being opened under ,”Prime Minister ‘s Jan Dhan Yojana” (PMJDY) in the remotest part of the country. This project is envisaged as one of largest Financial Inclusion undertaken in the world.
NUUP has eventually established connectivity with all Telcos and have a common USSD short code *99#. All customers of participating banks/PPIs can just dial *99# and get an interactive menu of respective banks/PPIs or common menu depending on the NPCI arrangement with bank/PPIs ) to complete basic banking transactions.
Given that USSD alleviates the need for application download and is more secure than SMS , this is set to revolutionise and democratise the mobile based remittance/payments in India and larger sections of the Indian population across the country would benefit from that.
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Immediate Payment Service (IMPS)-Unleashing Power of One Billion Consumers in India
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IMPS ( Immediate Payment Service ) is a 24X7, real time, cost effective, channel independent ,ubiquitous payment platform , known to be the best grounded innovation in payment technologies with visionary architecture, facilitating integration and inter-operability between customers of 71 leading banks and 8 telco led mobile wallets -m-Pesa, Airtel Money , m-Rupee and other non-telco led wallets like Oxicash, G Cash, ITZ Cash etc. in India.
By bringing Telcos to the IMPS platform…IMPS ( Immediate Payment Service ) is a 24X7, real time, cost effective, channel independent ,ubiquitous payment platform , known to be the best grounded innovation in payment technologies with visionary architecture, facilitating integration and inter-operability between customers of 71 leading banks and 8 telco led mobile wallets -m-Pesa, Airtel Money , m-Rupee and other non-telco led wallets like Oxicash, G Cash, ITZ Cash etc. in India.
By bringing Telcos to the IMPS platform, NPCI has created yet another grounded service innovation — ‘co-creation’. This entails the collaborative model that allows large section of unbanked population to reap the benefit of direct benefit transfers in a very cost effective manner.
IMPS is getting wide acceptance in India in remittances , merchant payments in semi urban and rural areas where POS terminals are not cost effective and cash management services of corporates too.
World’s largest Financial Inclusion Program –PMJDY - Jan Dhan Yojana of Government of India rides of USSD based B2C payment platform –NUUP of NPCI.
In terms of numbers, from one million transactions a month in September 2013, IMPS traversed a long way with a 6 x growth in last 12 months , crossing another milestone of 6.50 million transactions last month.
Set to touch many other milestones in days to come!
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Honors & Awards
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Most Influential Payments Professional
World Payments Congress
Basis survey done by World Payments Congress , this coveted award is bestowed .
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Most Influential Digital Media Professional of India
World Payment Congress
Basis survey done, World Payment Congress selects Most Influential Person in various fields including Digital Payments .
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Coveted Membership of Chairman's Club
Chairman -State Bank of India
Coveted membership is awarded by Chairman ,SBI every year to their Top 15 Best Performing SBI Officials in 20,000 plus branches .
Languages
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English, Hindi
Full professional proficiency
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French
Elementary proficiency
Organizations
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BUSINESS CORRESPONDENT FEDERATION OF INDIA (BCFI)
Advisor to the Board
- PresentBusiness Correspondent Federation of India (BCFI) is an association of 60 Corporate BC (CBC) members at national level, servicing through over 2 million Customer Service Points (CSPs) in remotest corner of Bharat. BCFI came into being with the intent of promoting responsible finance by the delivery of services to the not so privileged masses through the critical last mile route. Over past two years, while continuing to serve bank customers, CSPs were exposed to huge risk of pandemic. Despite…
Business Correspondent Federation of India (BCFI) is an association of 60 Corporate BC (CBC) members at national level, servicing through over 2 million Customer Service Points (CSPs) in remotest corner of Bharat. BCFI came into being with the intent of promoting responsible finance by the delivery of services to the not so privileged masses through the critical last mile route. Over past two years, while continuing to serve bank customers, CSPs were exposed to huge risk of pandemic. Despite this risk, in these difficult times, the services in last miles have continued unhindered and the BCs have been recognized by Department of Financial Services as COVID Warriors. Governor RBI and Finance Minister made positive announcements in media about the role of BCs in such difficult times. BCFI is a not-for-profit organisation . Advisor to the Board of BCFI is an honorary position. https://bcfi.org.in/
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Fintech Association for Consumer Empowerment
Chairman
- PresentFinTech Association for Consumer Empowerment (FACE) is a not-for-profit organisation to voice the common concerns of Consumer Lending FinTech companies with regulators, media, listing or distribution platforms (like Google Play Store) and other external stakeholders. The association, which got registered in September 2020, comprises of industry leaders in the FinTech Lending space, and looks to be the bridge between the lending entities & consumers on one hand, and banks/NBFCs, regulatory…
FinTech Association for Consumer Empowerment (FACE) is a not-for-profit organisation to voice the common concerns of Consumer Lending FinTech companies with regulators, media, listing or distribution platforms (like Google Play Store) and other external stakeholders. The association, which got registered in September 2020, comprises of industry leaders in the FinTech Lending space, and looks to be the bridge between the lending entities & consumers on one hand, and banks/NBFCs, regulatory bodies, government, media houses & listing platforms on the other. The members of FACE comprise of the founders of the leading Indian digital lending platforms KreditBee, EarlySalary, Kissht, CashE, and LoanTap. Chairman -Governance Council at FACE is an honorary position.
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Svamaan Financial Services Pvt. Ltd.
Microfinance is reshaping rural India, and NBFC-MFIs are at the forefront of this transformation. Svamaan, a proud contributor in the NBFC-MFI sector, is enabling financial inclusion and advancing India's journey towards economic growth. Source: Microfinance Industry Network (MFIN) #svamaan #microfinance #womeninmicrofinance #women #growth #empowerment #finance #ruralempowerment #microloans #ruralindia #financialempowerment #financialinclusion #microfinancing
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Dr Ritesh Jain
Despite the rapid growth in the payments sector, the RBI's reluctance to allow small-ticket loans—due to concerns about low deposits, high NPAs, and limited credit card penetration—still restricts access to credit for new-to-credit consumers, leaving many financially underserved. It is time for the RBI to reconsider allowing payments banks to enter the small-ticket loans market. With a track record of profitability, this step could drive broader financial inclusion and serve as a pathway for payments banks to become small finance banks, ultimately providing much-needed credit to those who need it most. Payments Council of India Reserve Bank of India (RBI) Fino Payment Bank Rishi Gupta India Post Payments Bank Jio Payments Bank Ltd. Airtel Payments Bank Anubrata
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Mehul Mistry
https://lnkd.in/dbtKmxwC Credit Line on UPI(CLoU) with Interchange Fee of 1.2% on Interest Free Credit is likely to set off a revolution with small ticket size loan market in the form of BNPL. Below are some of the reasons why CLOU has potential to takeoff now - 1. Issuer bank will now earn Interchange fee of 1.2% for Interest free credit period upto 30/40 days. 2. Payer PSP bank and UPI app/TPAP will earn fee of ~5 bps per transaction from the issuer. 3. Acquiring bank can charge MDR for accepting CLOU from large merchants and even small merchants only where ticket size is above 2k. This will ensure that all UPI acquirer will not decline CLOU transactions. 4. Small merchants can continue to avail CLOU acceptance services from acquirers without any charges upto 2k txn value. 5. For customers -preapproved Credit line customers, they can link their Credit Line to any of their preferred TPAP/PSP app. and make payment from the Credit Line conveniently, hassle free without any additional charges. 6. Lastly, for Issuers and acquirers the Infra cost of Issuing and accepting CLOU get reduced drastically and most importantly the cost of acquiring small ticket size loan customer and collection via UPI mandate becomes viable riding on CLOU network powered by NPCI. Overall a win win situation for all parties involved in the CLOU transaction. #NPCI Nalin Bansal Dilip Asbe Ramki Gaddipati ePayLater sivaram kowta Ramanathan RV Ajay Pandey Aurko Bhattacharya Prakash Sikaria Prashanth Ranganathan Sayali Karanjkar
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Cashfree Payments
Microfinance in India is a highly digital sector, with ~100% of loans being disbursed digitally. While the loan repayments are not completely online yet, MFIs are headed towards that direction. More than 30% of the borrowers use their smartphones to repay micro loans, and this is bound to go up in the coming years. MFIs need to take steps to make loan repayments easy and accessible. With Cashfree Payments BBPS-Biller solution, you can collect partial or full loan repayments across all digital channels, with a host of benefits - ✅ Automatic real-time reconciliation ✅ Customer notifications ✅ 2X faster loan collection journey ✅ 24*7 customer support ...and more. MFIs like Bound Parivar, Mere Apne Nidhi and Jeevan Dhara are already leveraging BBPS to solidify their digital collection process. Sign up for a free demo to know how BBPS-Biller solution can help your business👉 https://lnkd.in/g2qDexf3 #BBPS #Bills #BillsCollection #Loan #Repayments #MFI
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ET Edge Insights
Nitin Chugh, Deputy Managing Director & Head of Digital Banking & Transformation, State Bank of India believes that the evolving relationship between digital banking and FinTech is reshaping India’s financial milieu, facilitating remarkable innovation and change Read more #ETInsights #SBI #FinTech #Change #DigitalBanking #Transformation
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All Bout Corps
🚀 Dvara KGFS Raises $10 Million in Debt Funding from BlueOrchard Microfinance Fund!!!! 🚀 Dvara Kshetriya Gramin Financial Services (Dvara KGFS), a leading financial services provider focused on rural India, has successfully secured $10 million in debt funding from the BlueOrchard Microfinance Fund, a prominent global impact investor. This funding was obtained through the issuance of listed non-convertible foreign currency bonds via the External Commercial Borrowings (ECB) route, and these bonds are now listed on the India International Exchange in GIFT City, Gujarat. L V L N Murty, Managing Director & CEO of Dvara KGFS, shared the company’s growth plans: “We aim to grow by 40% in the current financial year, and exploring various avenues for raising liquidity is crucial to ensuring a well-diversified resource profile. Partnering with like-minded foreign funds in the impact space will be key to expanding our reach and empowering more underserved communities with access to critical financial services.” This strategic initiative not only strengthens Dvara KGFS’s financial stability but also enhances its presence in the international debt market, offering sustainable access to lower-cost debt. Shilpa Bhatter, CFO of Dvara KGFS, emphasized the importance of this development: “Listing our debt on the India International Exchange increases our visibility in the rapidly evolving international debt market, securing sustainable access to lower-cost debt and enabling us to maximize our impact on rural communities.” Earlier this month, SME lending platform Lendingkart also raised $10 million via external commercial borrowing from a BlueOrchard fund listed on the India International Exchange, highlighting a growing trend among Indian financial services firms leveraging international markets for funding. Last year, Dvara KGFS raised $14.4 million through listed non-convertible debentures (NCDs) from the Singapore-based Impact Investment Exchange. This continuous flow of investments demonstrates the confidence global investors have in Dvara KGFS’s mission and operational model. Dvara KGFS operates over 400 branches across 110 districts in 10 states, serving more than 2.41 million customers in rural India through an omni-channel approach. The company’s dedication to providing essential financial services to underserved communities is evident through its strategic growth and partnerships. #DvaraKGFS #BlueOrchard #Funding #FundingAlert #FundraiserAlert #DebtFunding #ImpactInvesting #FinancialInclusion #RuralIndia #Microfinance #ECB #SustainableFinance #GlobalInvestors #FinancialServices #Empowerment #CommunityDevelopment #OmniChannel #AllBoutCorps
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