Ankit Chawla

The Machiavellian Mindset: Strategy Lessons for the Modern Business Leader, Chapter-1

3Apr

By AnkitNo Comments

Blog, Business

The Machiavellian Mindset: Strategy Lessons for the Modern Business Leader, Chapter-1

"The Prince" is a political treatise written by Niccolò Machiavelli in the early 16th century. The Machiavellian Mindset is derived from the same. It is considered one of the most influential works in political philosophy and has had a lasting impact on various fields, including politics, leadership, and strategic thinking. Machiavelli wrote "The Prince" with the intention of offering practical advice to rulers on how to acquire, maintain, and expand their power. The book is structured as a series of letters addressed to Lorenzo de' Medici, the ruler of Florence at the time. Machiavelli draws on historical examples and his own observations to provide insights into effective governance. Niccolò Machiavelli's "The Prince" offers valuable insights into decision-making that can be applied to...

Lentra’s Operational Streamlining: Impact of Recent Layoffs, 2024

3Apr

By Ankit1 Comment

Fintech

Lentra’s Operational Streamlining: Impact of Recent Layoffs, 2024

Pune-based fintech SaaS startup Lentra recently undertook a major restructuring process, resulting in layoffs across various departments. The decision was aimed at optimizing operations and adapting to changing market dynamics. According to sources, the number of employees impacted by this restructuring could be as high as 70-80, although this figure remains unverified. Background In June of last year, Lentra secured $27 million (approximately INR 223 crore) in its extended Series B funding round. The funding was led by MUFG Bank and Dharana Capital, positioning Lentra as a promising player in the finance SaaS industry. The Restructuring at Lentra Cofounder and President Ankur Handa attributed the layoffs to the startup’s commitment to streamlining operations. A...

UPI Transactions Surge: India Digital Payments Report H2 2023

3Apr

By Ankit2 Comments

Fintech, Payments

UPI Transactions Surge: India Digital Payments Report H2 2023

The digital payments landscape in India has witnessed significant shifts in the latter half of 2023. According to a recent report by global payment services leader Worldline, Unified Payments Interface (UPI) transactions have surged by an impressive 56% year-on-year (YoY) during the second half of last year (H2 2023). Let’s delve into the key findings: 1. UPI Transactions Surge: In H2 2023, the volume of UPI transactions reached 65.77 billion, a substantial increase from 42.09 billion in H2 2022. The value of UPI transactions also soared, rising by 44% from Rs 69.36 trillion to Rs 99.68 trillion during the same period. Notably, PhonePe, Google Pay, and Paytmemerged as dominant UPI app players, accounting for ...

Generative AI: 6 Unique Ways It’s Revolutionizing SEO Marketing

2Apr

By Ankit1 Comment

AI

Generative AI: 6 Unique Ways It’s Revolutionizing SEO Marketing

The landscape of search engine optimization (SEO) is undergoing a seismic transformation, and at the heart of this revolution lies generative AI. As marketers grapple with the ever-evolving algorithms and user expectations, generative AI emerges as a potent ally. In this article, we delve into how generative AI is reshaping SEO marketing efforts and explore its implications for the future. 1. The SEO Arms Race: A Historical Perspective For decades, SEO professionals have engaged in an unending battle with search engines. The goal? To secure top rankings and visibility for their clients’ websites. But this contest has intensified over time, with each side deploying increasingly sophisticated tactics. Enter generative AI—a formidable weapon that has tipped the scales. 2....

Coordinating Financial Inclusion: The Lead Bank Scheme and Its Objectives, 2024

2Apr

By Ankit1 Comment

Fintech

Coordinating Financial Inclusion: The Lead Bank Scheme and Its Objectives, 2024

Lead Bank Scheme (LBS): The Lead Bank Scheme (LBS) was established in December 1969 by the Reserve Bank of India (RBI) to address the lack of banking services and credit facilities in rural areas. The scheme aimed to coordinate the activities of banks and other developmental agencies to promote financial inclusion and rural development. It assigned a specific bank in each district as the "Lead Bank" responsible for spearheading the development efforts in that area. Historical Background: The LBS was introduced based on the recommendations of the Gadgil Study Group and the Nariman Committee. The Gadgil Study Group, headed by Prof. D. R. Gadgil, emphasized the need for commercial banks to increase their presence in rural areas and develop a rural orientation. The Nariman...

1Apr

By Ankit2 Comments

Fintech, Global BFSI, Insurtech, Lending, Payments, Regtech, Wealthtech

Global Fintech Newsletter, March 2024, by NewNerve

Here’s a summary of some notable Fintech news from March 2024: Visa and Mastercard Settlement: US merchants reached a landmark settlement with Visa and Mastercard to lower swipe fees. The credit interchange rates will be capped for the next five years, resulting in an estimated $29.79 billion in savings for US merchants. Robinhood’s Leadership Change: Baiju Bhatt, co-founder and chief creative officer of Robinhood, stepped down after ten years at the company to “pursue other entrepreneurial interests.” Vlad Tenev, CEO and fellow co-founder, praised Bhatt’s pivotal role in opening access to markets for millions of new investors. Co-operative Bank Job Cuts: The UK’s Co-operative Bank is set to cut around 400 jobs (12% of its workforce) as part of a cost reduction progra...

Accel’s Atoms 3.0: Empowering India’s AI Startups for Industry 5.0 Transformation

1Apr

By AnkitNo Comments

AI, IndiaAI, Startups

Accel’s Atoms 3.0: Empowering India’s AI Startups for Industry 5.0 Transformation

In a significant development for the Indian startup ecosystem, Accel, one of the country's leading venture capital firms, has chosen eight startups that are dedicated to developing cutting-edge artificial intelligence (AI) and Industry 5.0 solutions. These startups have been selected under Accel's prestigious accelerator program, Atoms 3.0. This move not only highlights Accel's commitment to fostering innovation but also showcases the growing prominence of AI and Industry 5.0 in India's business landscape. The Rise of AI and Industry 5.0 AI has emerged as a transformative technology with the potential to revolutionize various industries. It encompasses a range of applications, including machine learning, natural language processing, computer vision, and robotics. In recent years, the ado...

Understanding RBI’s New Credit Card Rules: Refunds and Bill Adjustments

31Mar

By AnkitNo Comments

Banking, Fintech, Payments

Understanding RBI’s New Credit Card Rules: Refunds and Bill Adjustments

The Reserve Bank of India (RBI) recently introduced changes to credit card regulations, impacting how refunds and failed transactions are handled. As a credit card user, it’s essential to grasp these modifications. Let’s break it down in simple terms. 1. Credit Card Refunds Explained What Is a Credit Card Refund? After making a purchase with your credit card, you might find yourself dissatisfied with the product or service. In such cases, you can cancel the transaction and request a refund. The merchant from whom you made the purchase will refund the money to you. How Does a Refund Work? Merchant Refund: Typically, the merchant credits the refund back to your original mode of payment. If you paid using your credit card, the refund will be credited to that card. Impact on...

Credit Line on UPI: 5 Opportunities Shaping the Future of Finance

30Mar

By AnkitNo Comments

BFSI, NBFC, Payments

Credit Line on UPI: 5 Opportunities Shaping the Future of Finance

The emergence of Credit Line on UPI represents a significant leap forward in the financial landscape. This pioneering financial offering promises to reshape the lending landscape, providing individuals and businesses with seamless access to pre-sanctioned credit lines from banks, coupled with the convenience of UPI. Since its introduction in September last year, fintechs have been quick to capitalize on this breakthrough. As this transformative wave continues to gain momentum, we anticipate the following disruptions taking shape, bringing in a new era of financial accessibility and innovation. 1. UPI In-store EMI: Redefining Consumption Finance In the realm of financial innovation with Credit Line on UPI, UPI In-store EMI stands out as a groundbreaking B2B2C strategy. By first targeting ...

350,000 Daily Smishing Attacks: The Silent Threat via SMS

30Mar

By AnkitNo Comments

BFSI, Banking, Payments

350,000 Daily Smishing Attacks: The Silent Threat via SMS

Did you know that SMS click-through rates are a staggering 20%, compared to email’s 3-5%? This disparity has made SMS a prime target for smishing attacks, with an average of 350,000 incidents occurring daily1. But what exactly is smishing, and why are these attacks so prevalent? What Is Smishing? Smishing refers to phishing attacks that utilize SMS as their medium. In these attacks, cybercriminals pose as legitimate organizations and trick people into giving away confidential and sensitive information. The term “smishing” combines “SMS” (short message service) and “phishing.” How Do Smishing Attacks Work? Impersonation: Attackers send fraudulent SMS messages that appear to come from organizations individuals are already associated with, such as their bank, uni...