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| Fintech Convergence Council Elects New Leadership |
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Harshvardhan Lunia,
Chair, FCC, and Founder & CEO, Lendingkart Technologies |
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Jitendra Gupta,
Co-Chair, FCC, and Founder, Jupiter |
The Fintech Convergence Council (FCC) of IAMAI appointed its new governing council, following elections. Harshvardhan Lunia, Founder & CEO, Lendingkart Technologies Private Limited, is the new Chairman of the FCC, and Jitendra Gupta, Founder, Jupiter is the new Co-chair. Elections were also held to elect new chairs and co-chairs for the six committees, which function under the FCC. Following is the list of new chair and co-chair in each of the committees:
Committee |
Chair |
Co-chair |
Digital Lending |
Harshvardhan Lunia, Founder & CEO, Lendingkart Technologies Pvt. Ltd. |
Hemant Gala, CEO, PhonePe Credit Services Pvt. Ltd. |
Investment |
Prabhakar Tiwari, Chief Growth Officer, Angel One |
Ujjwal Jain, CEO, PhonePe Wealth Broking Pvt. Ltd. |
Insurtech |
Chiranth Patil, Co-Founder & Director, Riskcovry Insurtech Platform |
Pranshu Diwan, Chief Business Officer- Insurance, Paytm Insurance Broking Pvt. Ltd. |
Regtech |
Ankit Ratan, CEO & Co-Founder, Signzy Technologies Pvt. Ltd. |
Jay Dembani, Head of Products, Hyperverge |
Digital Financial Service Providers |
Sujith Narayanan, Co-Founder & CEO, Fi Money (Epifi Technologies) |
Jitendra Gupta, Founder, Jupiter |
P2P Lending |
Achal Mittal, CEO, NDX P2P Pvt. Ltd. (Liquiloans) |
Rajat Gandhi, Co-Founder & CEO, Faircent |
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| FCC Lending Committee Discusses Grievance Redressal Mechanism |
| IAMAI's FCC Lending Committee held a meeting on November 23, 2023, to set up a framework for the grievance redressal mechanism (GRM) ensuring consumer protection and to maintain the trust in digital financial services. This meeting was called in alignment to the RBI- Digital Lending Guidelines, dated September 2, 2022. Over 70 industry members attended the meeting. |
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| FCC Meeting on DPDP's Impact on Digital Lending Industry |
| IAMAI's Fintech Convergence Council held a virtual meeting, on November 20, 2023, with relevant industry players for digital lending to understand the impact of DPDP on the industry. Over 110 professionals joined the meeting. |
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| Digital Entertainment Committee Submission to TRAI On Broadcasting Policy
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| In September 2023, the Telecom Regulatory Authority of India (TRAI) released a pre-consultation paper seeking inputs for formulating the National Broadcasting Policy (NBP). IAMAI's Digital Entertainment Committee made a submission to the TRAI highlighting that the NBP must acknowledge the distinction between different services having differentiated regulation and legislation. The submission also suggested that the NBP should outline policy principles and avoid prescriptive measures, as the broadcasting sector involves diverse stakeholders operating in a rapidly changing technological environment. Prescriptive measures or strategies will prevent the NBP from being a future-proof policy that can guide the broadcasting sector through 2047 and beyond. |
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| Healthtech Committee Submission on NMC RMP (Professional Conduct) Draft Regulations |
| The Healthtech Committee of IAMAI made a submission to Dr Vipul Aggarwal, Secretary, National Medical Commission, and Ms V Hekali Zhimomi, Additional Secretary, Ministry of Health & Family Welfare, Government of India on the National Medical Commission's Registered Medical Practitioners (Professional Conduct) Draft Regulations, 2023. The submission suggested that Registered Medical Practitioners (RMP) should be permitted to prescribe branded medicines in accordance with their professional opinion and specify if substitution is permitted thereby leaving the choice to the patient. Requirement of displaying the unique registration ID should only be limited to medical documents such as prescription and medical notes, and not on money receipts given to patients. The submission pointed out that the requirement to obtain a license for each state should not be applicable to RMPs providing teleconsultation to patients across the country. It also suggested that it should not be mandatory for any RMP to sign digitally generated e-prescriptions. |
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| IAMAI Submission to West Bengal Govt on Use on Non-Transport 2-Wheelers |
The Internet and Mobile Association of India (IAMAI) made a submission to the transport department, Government of West Bengal on the mechanism suggested by the transport department on the use of non-transport two-wheelers for commercial purposes in the state. IAMAI requested the Department not to mandate commercial registration of non-transport two-wheelers as doing so would disrupt the supply of gig workers willing to on-board and participate in the platform economy.
The IAMAI submission requested that in case the Department sees merit in introducing a licensing regime, platforms desirous of applying for bulk authorisation for gig workers may be allowed to do so, while simultaneously allowing individuals wishing to participate in the gig economy by leveraging their vehicles to apply directly to the competent authority for authorisation. The submission suggested that such a system should be made online to streamline processes, ensure transparency and further ease of management for all stakeholders. IAMAI also recommended a slew of other changes to the mechanism proposed by the Department, including permitting authorised gig workers to participate across multiple platforms.
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| 19th Edition of MarCon Held in Mumbai |
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| Shri Vikram Sahay, Joint Secretary, Ministry of Information & Broadcasting, Govt. of India addressing MarCon 2023 |
The Internet and Mobile Association of India (IAMAI) organised the 19th edition of the Marketing Conclave (MarCon), on of India's largest conferences on marketing and advertising, on November 22, 2023, in Mumbai. It was co-powered by Whistle Feed. Shri Vikram Sahay, Joint Secretary, Ministry of Information and Broadcasting, Government of India delivered the keynote address at the conclave. Vivek Malhotra, Chairman, IAMAI Digital Advertising Council and Group CMO, India Today Group, delivered the opening remarks.
MarCon 2023 explored, through 30 sessions, across four tracks, the theme of "Tomorrow's Canvas: Tech and the Art of Marketing". The conference brought together on one platform more than 65 industry captains and subject stalwarts. Over 350 agencies, 500 leading brands and 1500 delegates took part in the conclave.
Other key speakers at the conference were Ajay Dang, President & Head Marketing Ultratech Cement; Milind Pathak, Chief Business Officer Route Mobile Limited; Tushar Vyas, President GroupM; Srikanth Bureddy, Co-Founder Whistle Feed; Arun Srinivas, Director & Head - Ads Business Meta; Vednarayan Sirdeshpande, Director-Consumer Digital Mondelez International; Soumitra Dhankar, Sr. Solution Consulting Manager Adobe; G Shainesh, Prof Marketing IIM B; Prasad Shejale, Founder & CEO Logicserve Digital; Ranjana Mangla, Sr. Vice President & Head of Ad Revenue Sony Pictures Network India; Taher Framewala, Deputy General Manager - Digital Commerce Tata Motors; Apoorva Maheshwari, Head of Marketing Bestseller India, and Samyukta Ganesh Iyer, Vice President and Head of Marketing Kaya Limited
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| Digital Advertising Council Launches Bhashik Report |
IAMAI's Digital Advertising Council launched The Bhashik Report on 22nd November at the 19th Marketing Conclave held in Mumbai. The Report (https://www.thebhashikreport.in ) comprises a glossary of terms to be used for explaining notice & consent in Indic Language. The key objectives of the report are to educate users about data use and privacy over time, communicate value exchange clearly to obtain informed consent, establish transparency around the purpose of data use to build trust and reassure users by bringing in familiarity.
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| Results of Digital Native Brands Awards Declared |
IAMAI's prestigious Digital Native Brands Awards (DNBA) were given away at a gala ceremony on November 22, 2023, in Mumbai. Given away in 19 categories, the Awards celebrate and honour businesses and brands that have harnessed the power of digital technology, epitomize the spirit of digital entrepreneurship, and leverage technology as a core driver of their success.
Winners of the two top categories of the 2nd edition of DNBA were Manish Chowdhary, WOW Skin Science, who bagged the Best Digital Native Brand Entrepreneur Award, and Ghazal Alagh, Honasa Consumer Pvt Ltd (Mamaearth), who received the DNB Woman Entrepreneur of The Year Award.
This year there were over 150 entries for the DNBA, which were adjudicated by a jury, comprising respected industry leaders such as Aloke Bajpai, Amitabh Bishnoi, Atul Mehra, Badrinath Mishra, Karun Arya, Krishna Kumar, Pooja Sahgal, Siddharth Pai, Vipin V and Vinay Bhartia.
Winners in other categories of the 2nd DNB Awards are:
- Best Brand Building/Brand Identity Initiative by DNB Brand: Dream11
- Best Payment Innovation for DNB: PayU Payments
- Best Brand Extension/Product Diversification by DNB Brand: One 97 Communications Ltd [Paytm]
- Best Technology Innovation for DNB: Smytten [Smytten Pulse]
- Best Consumer Experience: Fibe [EarlySalary]
- Best use of Digital Marketing/Social Media: Facebook, Linkedin and Instagram : Tata Neu [Tata Digital Private Limited]
- Best Content Marketing Strategy for DNB: Assembly
- Best Use of WhatsApp Marketing: Netcore Cloud for IGP
- Best Customer Loyalty Initiative of The Year by DNB Brand: Tata Neu [Tata Digital Private Limited]
- Best Use of Email Marketing: Netcore Cloud for MakeMyTrip
- Best Influencer Marketing Campaign: Tata Neu [Tata Digital Private Limited]
- DNB Product Innovation Award: Chalo Mobility
- Best Integrated Marketing Campaign: BrandLoom Consulting LLP
- DNB Product Innovation Award: Coffeeza
- Best Omnichannel Strategy: Pee Safe
- Best Supply chain and logistics Partner for DNB: Shiprocket
- Best Lending Innovation for DNB: Velocity [White Wizard Technologies]
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| Roundtable on Marketing Automation for Better CX and Efficiency |
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| Participants of the IAMAI Roundtable on Marketing Automation for Better CX and Efficiency |
The Digital Advertising Council of IAMAI, in collaboration with MessageBird organised a roundtable discussion on November 22, 2023, on 'Transform Customer 360 with Marketing Automation for Better CX and Efficiency'. Leading experts from the industry discussed in depth the prevalent use of CRM over CDP in Indian businesses. They underlined the comparatively higher costs of CRM for its functionalities. The conversation among the experts explored tools facilitating customer-business connections, the customer lifecycle, and the contemporary challenges faced by marketers. They highlighted the potential of integrating AI into daily operations for data analysis, emphasizing a shift from merely managing and pushing data.
Key speakers at the roundtable were Rajeeb Dash, Head - Sales & Marketing, Adani Realty; Chaya Baradhwaaj, Founder & MD, BC Webwise; Jaya Bhatia, VP Sales, BC Webwise; Rikki Agarwal, Co-founder, Blink Digital; Brijesh Munyal, Jt. Managing Director, Ethinos; Bhavisha Jogi, Director, EY; Avinash Tharani, AVP, Jio Ads; Zenon Soans, Sr. Manager, Jio Ads; Ashish Tewari, AVP Digital Marketing, Lodha Group; Vishal Mangaonkar, Head of Digital Marketing, Noble Hygiene; Sharmila Sandeep, Head Marketing, Saint Gobain; Ankesh Kumar, Global Director Marketing, Schneider Electric; Asjad Khan, Digital Business Lead, Sriram; Sunny Amlani, Head - Marketing, USDC Projects Pvt. Ltd.; Anju Chauhan, SVP Marketing, Yes Bank; Lerin Zacharia, Director Marketing, Yokohama and Vinay Bhartia, Head South Asia, MessageBird
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| FCC Webinar on OCEN's Role in Lending's Digital Transformation |
| The Fintech Convergence Council (FCC) of IAMAI collaborated with the Open Credit Enablement Network (OCEN) lead Sagar Parekh for a webinar on 'Open Credit Enablement Network with the Digital Lending Industry' on November 21, 2023. Over 130 industry professionals participated in the webinar. The discussions provided insights into the crucial role of OCEN in reshaping lending for MSMEs. |
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