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Arti Singh

@artijourno

18 Nov

RBI has released a report on digital lending through online platforms and mobile apps. Interesting datapoints and reccommendations on digital lending and neobanks too. Let me start with #Isaiditfirst line :) [Thanks to a kind soul for sharing this with me 🙂]

I have been reporting about how foreign lending players are entering India and borrowing NBFC licences. There are many NBFCs which were offering their NBFC as a service. I have been writing about this model since ET Prime days. One gfx that explains it better:

Now, coming back to the RBI paper. Some stats on digital lending.

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Arti Singh

@artijourno

15 Sep 20

@MorningContext

First the banks were reluctant to be on UPI; then after realizing there's some name and fame involved, they welcomed UPI with open arms; now they want to stay away from the economically unviable UPI. Read the cost and conflicts of UPI @MorningContext. themorningcontext.com/how-upi-has-tu…

Ever since CBDT asked banks to refund the fee that they started charging their customers for UPI #payments (post MDR ban), banks has been complaining that consumers are abusing the system, thanks to cashbacks.

“Volume wise, UPI accounts for close to 48% of total digital payments volume, while value wise, it is just 2%. This only shows that a lot of Rs 510 kind of txn is happening may be just to get some cashback from UPI app – which is total misuse of the system, says bank official.

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Arti Singh

@artijourno

28 May 20

This story is about Minance and its founder Anurag Bhatia - and all it was doing in the name of a fintech startup.
Few more tidbits 👇prime.economictimes.indiatimes.com/news/76048321/…

Minance did not have an IA licence until Feb 2019. "But, Anurag used to tell investment managers that if somebody asks, tell them we have the licence," an employee said.

By 2018 end, Minance was "close to a 40-member team and new systems being bought, new salespersons joining got brand new MacBook Pro and investment managers got MacBook Air." In 2019 Jan, moved to a new office space close to Rs 3 lakh monthly rental from Rs 1 lakh/rental.

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Arti Singh

@artijourno

24 Jan 20

Since #zeroMDR is the talk of the town now, here are some thoughts on how these decisions are impacting NPCI:

- IBA has asked NPCI to scrap switching fees. The argument seems fair because if banks/fintech cos are not earning anything, they would definitely mind paying any fee to NPCI or any entity

- In the name of promotion, the govt is actually killing UPI, Rupay. UPI no longer needs promotion. A case in point: Razorpay's PG biz saw UPI (as payment mode) contributing 38% to total txns as compared to Debit/Credit Cards (46%) in 2019. In 2020, UPI will overtake cards

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