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B – Banking

B – Banking #AtoZChallenge #BlogchatterA2Z

Banking is the institution that has taken the biggest toll with respect to its credibility during the last five years. With the government dumping most of the reports that are produced by either the government agencies themselves or come out as a part of PILs / RTIs, the integrity becomes questionable.

The only time when during the tenure of five years, the RBI has become so weak losing two governors in the process. But a common man cannot ask questions to the government.

Some positives:

The thing that goes in the favor of the government is the Insolvency and Bankruptcy Code introduced in 2016, was passed in parliament to address the issue of NPAs. The code allows either the creditor or the borrower to approach the National Company Law Tribunal (NCLT) to initiate insolvency proceedings

The other big plus is the much-publicized Pradhan Mantri Jan Dhan Yojna (PMJDY) which was a renaming of the ‘Basic Savings Bank Deposit Accounts (BSBDA) scheme of the previous UPA government. In 2012, the ‘no-frills account’ was renamed as ‘Basic Savings Bank Deposit Accounts (BSBDA).

Let’s get straight to some facts and data.

The present government has been very vocal in listing out that they have inherited most of the NPAs from the previous regime and they are the ones who have kept a check on it.

As per an Economic Times report, Gross non-performing assets on public sector banks surged to Rs 7.8 lakh crore as of December 2018 from Rs 2.4 lakh crore in June 2014. Private sector banks have too witnessed a substantial increase in bad loans in the last four years. I don’t need to say much on this, it is for everyone to decide.

Moving on to the other issue of bank accounts. An astonishing amount of about 32 crore bank accounts were opened in the PMJDY. At least 18 crore accounts were opened in rural and semi-urban centers while more than 13 crore accounts opened in urban metro centers.

The opening of bank accounts is one thing but their actual contribution to the inclusion of unprivileged in the mainstream is another.

The accounts opened under the PMJDY are zero balance account, that means banks cannot levy any charges for not maintaining the MAB. The other benefits include insurance cover of Rs. 30000 and overdraft facilities and many individuals who already have bank accounts may have had accounts created for them, lured by these facilities.

“Our preliminary estimation shows that around 25 percent of accounts are a repeat or multiple accounts opened by people already holding accounts in different banks,” said G S Sandhu, secretary for financial services in the ministry of finance.

According to a paper published in May 2017 by Manuela Kristin Günther from the Overseas Development Institute, 90% of Indian households have at least one bank account as opposed to the government’s claim of over 99%. Of these, the paper pointed out that 79% of the households with Jan Dhan accounts also have a regular bank account.

On top of this, even a statement from the current finance minister says that about 22-25% of these are lying empty.

On average a bank account costs Rs. 125 to the bank to maintain that account. Apart from charges related to non-maintenance of MAB, SBI had an annual maintenance fee of Rs 125-300 for debit cards depending on the category of the card.

Nobody questions how much it is costing the government to maintain these accounts and whether these accounts are actually serving the purpose they were supposed to.

In the past four years, 25 banks – including public and private sector banks have collectively collected 11500 cr for not maintaining MAB, which is more than the total money owed by Vijaya Mallya.

To be honest, it usually the poor and the lower middle class who is unable to maintain the minimum account balance. When you want to encourage people to use more of mainstream banking then you should incentivize it rather than penalizing. What happened to the ‘cashless economy’ after demonetization? As per RBI, the cash in circulation is even more than what it was pre-demo. PMJDY is heading in the same direction

A single account opened in United Bank of India, under the Pradhan Mantri Jan Dhan Yojana (PMJDY), or the ‘no frills’ or Basic Savings Bank Deposit Account (BSBDA) had a whopping Rs 93.82 crore deposited.

These accounts have become an easy place to launder money and without proper checks and the government shelving reports after reports the NPAs and Black Money is not going anywhere.

 

For all those who are fed up with the policies,

For all those who hate fines,

For all those who hate NPAs,

And

For all those who are in Banking…

It’s not a goodbye,

But it’s a GOOD BYE

Manas ‘Sameer’ Mukul

This is the second post for the #AtoZChallenge #BlogchatterA2Z. My theme in Politics Category is ‘IPL – Indian Parliamentary League’, where I would be covering some relevant issues with the General Elections 2019 through the course of 26 posts.

‘B – Banking’

Read the previous post here

A – Anti-National

Please do visit tomorrow for the next post with letter ‘C’

I am also taking part in the #AtoZChallenge #BlogchatterA2Z using another theme – ‘Dubai – City of Gold‘. If you love travel head over to the Travel Theme and share your feedback.

 

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2nd India Affiliate Summit

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2nd India Affiliate Summit

India Affiliate Summit 2016

India Affiliate Summit 2016

The second edition of the annual gathering of affiliates marketing leaders in India – 2nd India Affiliate Summit (IAS16) – hosted by – IAMAIInternet and Mobile Association of India in association with vcommision was held on 1st and 2nd day of September of 2016 at the Leela hotel, Ambience Mall, Gurgaon.

The event gives a unique platform to marketers to discuss the innovations and dissect the implications of Affiliate Marketing. This has been an enriching initiative by IAMAI to bring Affiliate aka Performance Marketing industry together, providing educational sessions on the latest industry issues along with networking opportunities for affiliate marketers.

The India Affiliate Summit 2016 is designed to revolutionize the Affiliate marketplace in India. Spread across 2 days of networking & innovation, the Summit is segregated to provide you the opportunities to hobnob with fellow Affiliates & Brands alike, with the Affiliate Street being the main attraction. The Affiliate Street gave marketers a chance to immerse, converse and disperse insights on performance-based marketing.

Affiliate Street

Affiliate Street

IAMAI itself highlights on its India Affiliate summit website as to why one should attend the summit. Apart from lead talks, keynotes and group discussions, a lot of emphasis was laid on networking as well which was significant from the fact that the during the course of two days there were designated slots for networking.

Why to attend IAS 16

Why to attend IAS 16

The top affiliate marketing leaders addressed a variety of topics including;

  • Demystifying new age Affiliate Marketing
  • Cracking the Affiliate Marketing Code
  • Synergizing Brand building and Affiliate Marketing
  • Importance of data quality and Campaign Optimization
  • Means or the End: Last Click vs Multi Click attribution
  • Reality Check: Pitfalls of Affiliate Marketing
  • Mobile Affiliate Marketing: World of Apps, Pops, re-directs & advertising
  • Ordering its way to growth: Affiliate for ecommerce/food tech
  • Anatomy of perfect Affiliate Marketing
  • Navigating the Affiliate Marketing Ecosystem: Lessons learned and helpful hints
  • Into the crystal ball: New age drivers for Affiliate Marketing
How Shoutmeloud increased its revenue by 200% within an year

How Shoutmeloud increased its revenue by 200% within an year

In between the plenary session a lot of Lead talks were also there. One that stands out, me being from a blogging community, was of Harsh Agarwal, founder shoutmeloud.com. He spoke on how shoutmeloud increased its revenue by 200% within one year. Some of the other big names which were present at the summit were:

  • Parul Bhargava – CEO of vCommission
  • Aasheesh Marina – Search Quality at Google
  • Aashish Bhatnagar – Head of Mobile & Affiliate Marketing Shopclues
  • Abhilash Premanand – Mobile Marketing & Digital Marketing Specialist at BankBazaar.com
  • Amit Sharma – Head of Digital Marketing & E-commerce at Max Life Insurance
  • Ankur Singla – Founder and CEO of Helpchat and OneDirect
  • Anshul Srivastava – Head of Digital Marketing at BigBreaks.com
  • Anurag Gupta – Founder and MD at DGM India
  • Ashwiny Thapliyal – Regional Head of Sales India & Southeast Asia at TUNE
  • Swati Bhargava – Co-Founder at Cashkaro

To summarize the couple of days of India Affiliate summit; It focused on how Affiliate Marketing can help businesses and brands, how you can grow your business, networking with more than 1500 attendees and more than 70 delegates, what are the keys trends and what all things will hold the key to future as far as Performance Marketing is concerned.

I would like to take this as an opportunity to thank IAMAI and Blogadda for making it possible for me to attend the event on both the days.

Manas ‘Sameer’ Mukul

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10th India Digital Summit

10th INDIA DIGITAL SUMMIT – IAMAI

India Digital Summit

India Digital Summit

The biggest annual gathering of Digital leaders in India – 10th India Digital Summit (IDS) hosted by – IAMAIInternet and Mobile Association of India was held on 9th and 10th day of February of 2016 in the heart of our national capital, New Delhi, at the Lalit hotel. The event was a unique opportunity which saw many huge names, the smartest minds in market from the Digital and Marketing Ecosystem along with some new ones that have started surfacing and started knocking on the doors of success.

Continuing with the current government initiative of ‘Start-up India Stand-up India’, the event covered a vast range of topics aligning with the government’s agenda and with the current technological and digital space in the country. The top CEO’s and CMO’s addressed a variety of topics including;

  • Smart Cities Mission: A step towards Smart India
  • First Steps to Entrepreneurship – launching of a start-up
  • How health tech is on a roll?
  • Why Food tech industry is moving towards a new ceiling?
  • What the state of internet in rural India?
  • What is the future of Internet?
  • Education Tech – the revolution has added a new dimension to the education industry
  • Financial Inclusion – Advancing financial inclusion in India
  • How to scale up start up: Analyze, Attract, Implement and Grow
  • Travel Tech – The road ahead
  • What’s the state of Internet and women in India: technology to aid for gender parity
  • Mobile touch points across brand marketing
  • Marketing automation: Transforming the way the marketers work
  • How India is moving towards a cashless economy
  • Apps Development innovation required in India
  • Building a killer team – Ways to Attract, Hire and retain the right people
  • How is the technology giving a leap to financial institutions
  • The power of content marketing to drive Digital Media Campaigns
Deep Kalra, MakeMyTrip with Amarjeet Singh, OLX

Deep Kalra, MakeMyTrip with Amarjeet Singh, OLX

The Lalit provided the perfect setting for the event where the complete Hotel was covered in the flavours of India Digital Summit. There were four major halls where the leadership talks and discussions were taking place and a designated Exhibitors section. This time IAMAI – IDS gave an exciting opportunity to young budding entrepreneurs to come and present and pitch their ideas and start-ups in front of a panel of investors and market leaders.

Chairman TRAI at the 10th IDS

Chairman TRAI at the 10th IDS

The Exhibitors section had stalls of the major sponsors explaining their key offerings but the buzz was majorly generated by the ‘Startup Zone’ which was again a glorious opportunity for some start-up to set up their stalls and explain to visitors what their offerings were. It was great even for the new technology curious visitors as they were complimented with food and tea coupons depending upon the passes they were holding.

The Summit commenced with a welcome address by Kunal Shah, Founder & CEO, FreeCharge & Chairman IAMAI. It was followed by many speakers in different auditoriums including Umang Bedi, MD Adobe, Shri Ram Sewak Sharma, Chairman TRAI, Dinesh Agarwal, Founder & CEO Indiamart, and Deep Kalra, Founder MakeMyTrip. The first day concluded with the CEO’s dinner which posed as a terrific opportunity to connect and network with the key figures in the business.

Dinesh Agarwal of Indiamart at 10th IDS

Dinesh Agarwal of Indiamart at 10th IDS

Second day witnessed equally huge names from the digital ecosystem. Murugavel Janakiraman, founder and CEO CONSIM and Shri Rajeev Chandrasekhar, MP Rajya Sabha got the day underway. Nandan Nilekani graced the occasion with his presence and strategic inputs on how he is shaping the future AADHAAR and its inclusion in every aspect of life and hence economy. The day also saw the likes of Dippak Khurana, CEO Vserv, Amit Jain, CEO Cardekho, Kirthiga Reddy, MD Facebook India, Vijay Shekhar Sharma, Founder Paytm, and Rajan Anandan, VP & MD Google SE Asia & India. The valedictory address was given by Shri Jayant Sinha, MoS Finance government of India.

Nandan Nilekani at 10th IDS

Nandan Nilekani at 10th IDS

The second day concluded with the 6th edition of the India Digital awards which definitely glamorized the event along with recognizing the hard work of the techies for their contribution in the Digital universe.

Excerpts from the 10th IDS:

“Every Entrepreneur is a Social Entrepreneur in India. Popularity shouldn’t be a metric for success. Entrepreneurs should create value so that the VCs chase them. Our Favourite sport is jumping to conclusions. Great Entrepreneurship should not be like coaching classes, don’t always look for mentors.” – Kunal Shah, Founder & CEO, FreeCharge & Chairman IAMAI.

Nandan Nilekani with his mission on AADHAAR

Nandan Nilekani with his mission on AADHAAR

“Adobe is changing the world through digital experiences. The real differentiator is Customer Experience for products and services. Every Experience should be consistent and continuous. Experience is the new brand and customer journey is the new product.” – Umang Bedi, MD Adobe.

“Software should be made available to everyone as commodities for us to grow. Digital India vision can only be achieved if there would be connectivity all across infrastructure and internet.” – Shri Ram Sewak Sharma, Chairman TRAI.

Dippak Khurana of Vserv at 10th IDS

Dippak Khurana of Vserv at 10th IDS

“Scaling up is very individual and intuitive. Accelerators and Alliances are two very different things. It’s about repeat usage (churn) not new usage. Don’t try to provide solutions to everyone, be focused. It’s not about the ideas… It’s about the execution and Execution is a series of small ideas.” – Dinesh Agarwal, Founder & CEO, IndiaMart

“It’s totally about perseverance with your startup. Don’t have a plan B when you embark on your journey of a Start-Up. MakeMyTrip’s success is because of its TEAM. Please be aware of competition but don’t obsess over them. Competition is equally important…If u don’t have competition that means you are in the wrong space”. – Deep Kalra, Founder MakeMyTrip.

Irfan Khan Ceo Blogmint at 10th IDS

Irfan Khan Ceo Blogmint at 10th IDS

“Language support is very crucial for Internet in rural India. Affordable smart devices and affordable data is the key to take the Internet to rural India. We need the REASON for the person to come on Internet in rural India. Problem is content generation in regional language and because the content is in alien language there is very low discoverability Ambiguity is a key issue when it comes to translation. There should be standardization in taxes across country to support Internet in rural India. Consistency in network, spectrum n infra require for proper Internet in rural.” – Internet for Rural India.

Blogmint at work

Blogmint at work

“Constantly remind people of your mission and right Co-Founder is critical.” – Dippak Khurana, Founder & CEO VServ.

Chaaipani stall at StartUp zone

Chaaipani stall at StartUp zone

To summarize the couple of days of Digital summit; It focused on how digital transformation can help and give a tremendous boost to the Indian Economy both in urban as well as rural India,  which was in coherence with the current government’s initiative of ‘Start-up India Stand-up India’.

I would like to take this as an opportunity to thank IAMAI and Blogmint for making it possible for me to attend the event on both the days.

FlockChat at StartUp zone

FlockChat at StartUp zone

Selfie with Umang bedi, Adobe MD

Selfie with Umang bedi, Adobe MD

Manas ‘Sameer’ Mukul

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The VILLGRO Fellowship

The Villgro Fellowship

Rich-Poor Reality

Rich-Poor Reality

I remember giving a presentation on 11th five-year plan during an academic session as a part of MBA curriculum and I don’t know how but I stumbled upon this pic while searching for an appropriate title slide and used it. I used this pic mainly because it is self-explanatory but how it subtly signifies that the governments have failed over the years to bridge the gap between the poor and the rich. Though for the past several plans one of their underlining objectives was ‘Inclusive Growth’ – Growth of every stratum of the society simultaneously…The rich getting richer but the poor also getting better. But instead of continuous efforts and so called plans I personally believe that we have come to a stage that the middle class has virtually diminished and has gone nearly extinct. The reason for this is that the rich is getting richer while at the same time the poor is getting poorer. Hence one of most prevailing questions arise how can we change this…how can we make the state of poor in our country from the current suffocating one to at least survivable.

Statistically speaking where majority of the poor population resides in our country…it’s mainly in the rural lands. There may be many ways but one of the ways that I believe is by starting more and more rural organizations where we can employ a lot of locals as well as the end beneficiaries at large should also be them. I know that there are many NGOs and government organizations working towards achieving the same but still the work isn’t reflecting in the number of success stories that we should ideally hear. I recently heard a bunch of guys coming up with an initiative of rural BPO and I thought that it was a great move. Neither everyone can be a farmer nor is every land that is rural, futile and fertile enough to bear crops.

There are more and more visionaries who are coming up with social enterprises whose main objective doesn’t lie in creating wealth for just them. They are surrounded by a more holy motive of betterment of the poor and how they can be empowered, how they can become the controller of their destinies than mere the rain gods.

But sadly to say the infrastructure, in every regard, I don’t think is that conducive and encouraging, where we can say that the environment is suited for such entrepreneurs and such enterprises. Most of them struggle with a lot of issues and one such issue is how to move ahead with such an enterprise and such a motive. Since there is not much that has already happened in this area…there are very few mentors and experts in the same field and category. But wouldn’t it be a boon for everyone who wants to dedicate his business and life to such a cause that he gets a platform to showcase his/her enterprise and on top of that get mentors and if possible investors for their mission. Someone to understand their idea and make it kind of their own and incubate it and take it forward like a corporate company.

The Villgro Fellowship

The Villgro Fellowship

Villgro is one such non-profit institution, which is giving a platform for social entrepreneurs and enterprises with innovative and technical ideas, whose underlying theme should be the betterment of society as a whole especially the underprivileged and the poor. They have come up with an awesome Fellowship program where they encourage people from all walks of society to be a part of it and showcase their innovative idea. They will provide total support and whatever guidance is required right from the incubation stage of the idea and project. They will nurture your idea like their own and in return teach you also the key aspects of running a social enterprise so that after the fellowship you can on your own run it in a sustainable manner which achieves its objectives and goals with which you wanted to start on the first place.

Fellow success stories

Fellow success stories

On the other hand in return you will learn a lot, since the program is designed in such a manner that you will get a lot of exposure through the other fellows, which will be a mix of international students with similar passion and such ideas. There is no dearth of recognition also, Villgro has won a lot of awards and appreciation for coming up with such a foundation that instead becomes foundations for other organizations and hence the credibility about Villgro and its Fellowship program automatically follows.

In the end I would like to mention a line from their website…’Change starts with ideas…when ideas become reality, they transform lives’. So, if you have an idea which you believe can change a lot of lives…Villgro is the place to go.

For more info please check out these links about the fellowship:

150318-Fellowship Posts-Rachana

 

Manas ‘Sameer’ Mukul