Ankit Chawla

Understanding the 1st Law of Power: Never Outshine the Master

11Apr

By AnkitNo Comments

Blog

Understanding the 1st Law of Power: Never Outshine the Master

In the intricate dance of power dynamics and human interactions, understanding the laws that govern our social landscape is crucial. Power, in all its forms, has been a subject of fascination for centuries. From ancient empires to modern-day corporate structures, the dynamics of power and its acquisition have shaped the course of history. In this blog, we will delve into the First Law of Power, as outlined by renowned author Robert Greene in his book "The 48 Laws of Power." We will explore historical examples that illustrate this law and draw parallels with the contemporary corporate world, shedding light on the timeless nature of power dynamics. The First Law: Never Outshine the Master The First Law of Power, as stated by Robert Greene, emphasizes the importance of never outshining th...

Hidden Fees and Deceptive Tactics: UPI Users Beware!

11Apr

By Ankit1 Comment

Fintech, Finance

Hidden Fees and Deceptive Tactics: UPI Users Beware!

Digital payments especially UPI have seamlessly integrated into the daily lives of millions of Indians. From paying street vendors to making local store purchases, recharging phones, and booking tickets, UPI (Unified Payments Interface) apps have become an integral part of our financial transactions. However, beneath the convenience lies a web of manipulative practices that exploit unsuspecting users. The Dark Patterns Unveiled : UPI payments The Central Consumer Protection Authority (CCPA) has identified 13 types of dark patterns employed by UPI payment apps. These patterns are designed to mislead users, violate consumer rights, and maximize profits for the platforms. Let’s delve into these deceptive tactics: False Urgency: Creating a sense of urgency to prompt hast...

Breaking Records: Zomato and PB Fintech Among 6 Stocks Touching New 52-Week Highs

11Apr

By AnkitNo Comments

BFSI, Business, Payments

Breaking Records: Zomato and PB Fintech Among 6 Stocks Touching New 52-Week Highs

In the ever-changing landscape of the stock market, it's always exciting to witness certain stocks reaching new heights. Last Friday, Zomato and PB Fintech were among the six stocks that achieved new 52-week highs. This article delves into the significance of these milestones and provides an overview of the performance of these companies. Zomato's Remarkable Surge: Zomato, the popular online food delivery platform, has witnessed a meteoric rise, with its stock hitting a new 52-week high of Rs 191.8. Over the past year, Zomato's stock has experienced an impressive growth of 270%, reflecting the market's confidence in its business model and growth prospects. The company's ability to adapt to changing consumer preferences and capitalize on the burgeoning food delivery market has contributed...

10Apr

By AnkitNo Comments

Fintech, Payments

Detailed Review of Mobikwik Payments App

MobiKwik payments app is a digital wallet and payments app that offers various services. Whether you’re looking to recharge your mobile phone, pay utility bills, invest wisely, or even secure insurance coverage, MobiKwik has you covered. Mobikwik Payments App: Download from PlayStore Payment Options: Wallet: MobiKwik allows you to load money into your wallet and use it for transactions. UPI: You can link your bank account and use UPI for seamless money transfers. Credit and Debit Cards: MobiKwik supports card-based payments. Recharge and Bill Payments: Recharge prepaid mobile numbers (Jio, Vodafone, Idea, Airtel, etc.). Pay utility bills (electricity, water, gas) directly through the app. Online Shopping and Food Orders: Make online payments on s...

Freo’s Financial Revolution: Freo’s Revenue z FY24, attains profitability

10Apr

By Ankit1 Comment

Banking, Digital Lending, Finance, Fintech, Payments, Startups

Freo’s Financial Revolution: Freo’s Revenue z FY24, attains profitability

Digital banking Platform Freo, operated by Mwyn Tech, has achieved remarkable growth and profitability. Freo reported gross revenue of Rs 350 crore in FY24. The company has been profitable for the last four months since December 2023. Let’s delve into the key highlights: Impressive Revenue Growth: Freo’s gross revenues have surged 5Xover the past five years, reaching the significant milestone of Rs 350 crore. The company’s contribution margins also soared, from 16% in Q4 FY23 to over 40% in Q4 FY24. Diversified revenue streams: Fee-based revenue now accounts for over 45% of total revenue, alongside the 55% from interest-bearing products. User Base Expansion: Freo’s user base grew from 15 million in FY22 to an impressive 25 million by the end of F...

Banking Trojans: The Malware Undercover Agents

10Apr

By Ankit1 Comment

Banking, Fintech, Payments

Banking Trojans: The Malware Undercover Agents

In the ever-evolving landscape of cybersecurity, banking trojans stand out as a formidable adversary. These malicious programs, often disguised as legitimate software, infiltrate systems with the intent to steal sensitive information, particularly from online banking users. In this article, we delve into the world of trojans, exploring their origins, tactics, and the ongoing battle to defend against them. What Is a Trojan? A trojan is a type of malware that masquerades as a benign or useful program. Just like the legendary Trojan horse from ancient Greek mythology, these digital counterparts deceive users by appearing harmless while harboring malicious intent. Banking trojan, in particular, follow this pattern—they pose as something beneficial but have a hidden agenda. ...

India’s UPI Revolution: A Trillion-Rupee Success Story

10Apr

By Ankit1 Comment

Fintech

India’s UPI Revolution: A Trillion-Rupee Success Story

In an era where digital transactions are becoming the norm, India’s Unified Payments Interface has emerged as a giant, overshadowing other payment methods with a staggering transaction value of Rs 99.68 trillion in the third quarter, as per the latest report by Worldline. Also Read: Revolutionizing Digital Payments: RBI’s New Rule on UPI Payments from PPI Wallets via Third-Party Apps and the Impact on Payment Service Providers UPI: The Colossus of Digital Payments in India The ‘India Digital Payments Report’ for H2 2023 by Worldline paints a vivid picture of UPI’s dominance. The transaction volume has seen a monumental increase from 8.03 billion transactions in January 2023 to 12.02 billion by December 2023. This surge is mirrored in the transaction value, whi...

RBI’s Vigilance Drive: Unauthorised Forex Trading Platforms Under Scrutiny, Banks Called to Action

10Apr

By AnkitNo Comments

Fintech, Banking, Finance, Regtech, Wealthtech

RBI’s Vigilance Drive: Unauthorised Forex Trading Platforms Under Scrutiny, Banks Called to Action

The Reserve Bank of India (RBI) has intensified its efforts to combat unauthorised forex trading platforms, emphasizing the need for heightened vigilance among banks. Governor Shaktikanta Das has raised concerns about banking channels being exploited for funding these platforms, prompting the RBI to take decisive action. Framework for Authorisation of Electronic Forex Trading Platforms The RBI has implemented a robust framework for the authorisation of electronic trading platforms since 2018. This framework ensures strict compliance with regulations and is currently being updated to keep pace with technological advancements that have revolutionized financial markets. Cautionary Advice and Alert List: In response to complaints of cheating and fraud associated with unauthorised trading p...

RBI Imposes Penalty on The Uttarakhand Grameen Bank for Regulatory Non-Compliance

9Apr

By AnkitNo Comments

Banking, Finance, NBFC

RBI Imposes Penalty on The Uttarakhand Grameen Bank for Regulatory Non-Compliance

Dehradoon. The Reserve Bank of India (RBI) has recently wielded its regulatory authority by imposing a monetary penalty of ₹5.00 lakh on The Uttarakhand Grameen Bank located in Dehradun. The penalty comes as a result of the bank's failure to adhere to the provisions outlined in the Banking Regulation Act, 1949. This move by the RBI underscores the importance of regulatory compliance within the banking sector. The penalty, issued on March 27, 2024, stems from the bank's contravention of section 26A(2) in conjunction with section 51 of the BR Act. The statutory inspection of the bank, conducted by the National Bank for Agriculture and Rural Development (NABARD), highlighted non-compliance with statutory provisions, prompting the RBI to initiate necessary action. During the inspection, ...

RBI’s Regulatory Moves: Personal Loan Growth Slows Down

8Apr

By Ankit4 Comments

Digital Lending, Fintech, NBFC, Startups

RBI’s Regulatory Moves: Personal Loan Growth Slows Down

The FinTech sector isn’t the only one feeling the impact of regulatory actions. Banks are now treading carefully in the realm of personal loans, thanks to the Reserve Bank of India’s (RBI) recent moves. Let’s delve into the details and understand how this cautious approach is affecting borrowers and lenders alike. Moderated Growth in Personal Loans According to RBI data, the year-on-year growth of unsecured personal loans has taken a step back. In February, it moderated to 23.1%, down from 24.4% in January and 27.6% in December 2023. This shift reflects banks’ response to the RBI’s concerns about the rapid expansion of personal loans. But what prompted this change? Let’s explore: The RBI’s Action Plan In November of last year, the RBI decided to tighten t...