Samachar

SAMACHAR - SEPTEMBER, 2024

Digital Native Brand Leader's Meet 2024

Delegates at a session in the Digital Native Brand Leaders' Meet 2024

The Digital Native Brand Committee of the Internet and Mobile Association of India organized the Digital Native Brand Leaders Meet, an exclusive residential offsite designed for Digital Native Brand (DNB) founders and leaders, from September 13 to 15, 2024, at Marriott Resort and Spa, Goa.

The Meet fostered synergy across the digital ecosystem, offering a unique opportunity for peer-to-peer sessions that facilitated both formal and informal interactions. Participants had the chance to cultivate valuable interpersonal relationships and engage in meaningful discussions on pressing business issues.

The Meet was powered by ValueLeaf, Platinum Partner was Gokwik, Silver Partner - Zippee, and Knowledge Partner - Grant Thornton.

Submission on Draft Digital Communications Policy

The Internet and Mobile Association of India (IAMAI) made a submission to the National Telecommunications Institute for Policy Research, Innovation and Training (NTIPRIT) regarding the upcoming Draft Digital Communications Policy, which will serve as a roadmap for the development of India's digital communications sector in the coming years. IAMAI highlighted key reforms, such as the rationalization of regulatory levies and the USOF, as well as the exemption of bank guarantees for TSP, which would contribute to making India's digital communications sector financially sustainable and viable.

The submission also emphasized the need for open access to renewable energy for telecom networks to help the industry become more environmentally friendly, the allowance of 5G services in and around airports, and the need for government departments and agencies to cover the cost of disseminating messages and using automated Out-Bound Dialers, as telecom networks are both traffic- and cost-sensitive.

Letter to NCT of Delhi Transport Minister on Challenges of DMVADSP Scheme

IAMAI, on behalf of its members of the aggregator industry, submitted a letter to the Honourable Minister of Transport, Government of NCT of Delhi, highlighting challenges with the Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme, 2023.

In its letter, IAMAI raised concerns about multiple technical issues with the portal where aggregators are required to declare their fleets, make payments, and upload drivers' licenses. IAMAI also pointed out that the refusal to grant a two-month extension for onboarding fleets has led to the immediate application of electric vehicle (EV) mandates on the entire fleets of aggregators, delivery service providers, and e-commerce players. Additionally, the submission requested the provision for registering low-speed vehicles, as they are more financially affordable for gig workers and well-suited for food and hyperlocal deliveries.

IEC Members Meet Honourable Union Minister of State Shri Jayant Chaudhary

Members of the India Edtech Consortium (IEC), operating under the aegis of IAMAI, met with Shri Jayant Chaudhary, Honourable Union Minister of State (Independent Charge) for Skill Development and Entrepreneurship, and Union Minister of State for Education, on September 3, 2024. The delegation discussed the government's robust skilling agenda, with the Minister urging members to collaborate with the government to accelerate efforts and create new opportunities for the workforce in emerging sectors.

Submission on Draft Alternative Factors of Authentication

The Payments Council of India (PCI) made a submission to the Reserve Bank of India on the Draft Alternative Factors of Authentication, highlighting the industry's key concerns and seeking clarifications regarding authentication categories, customer consent, and tokenization.

PCI hosts Delegation from the Bank of Tanzania

The PCI hosted a delegation from the Bank of Tanzania in September, with the support of two members, PayU and Mswipe. The delegation was briefed on current practices in the Indian market regarding cloud cybersecurity, data management, data localization, and risk management.

Submission to RBI on Government Revenue Payments Chargeback Process

PCI’s Card Networks Committee made a submission to the Reserve Bank of India (RBI) regarding the Government Revenue Payments Chargeback Process, in response to feedback from the RBI. The submission emphasized the need for provisions to facilitate a smoother chargeback system and highlighted the importance of customer protection and awareness in the payment process.

Submission on Payment Aggregator - Cross Border Bottlenecks

PCI's International Remittance and Trade Committee made a submission to the RBI addressing the requirements for multiple ECA and ICA accounts, as well as the definition of e-commerce, among other factors that are creating bottlenecks for PA-CB entities.

PCI Interaction with the Ministry of Commerce and SEPC

PCI organized an interaction between its International Remittance and Trade Committee, the Union Ministry of Commerce, and the Service Export Promotion Council (SEPC) on September 25, 2024. Key issues discussed at the meeting included challenges related to KYC, FTP, improved coordination between various government stakeholders, and strategies to democratize and scale up Indian services exports. The suggested solutions and challenges were acknowledged and appreciated by the stakeholders present at the meeting.

Representation to RBI Requesting Amendment to BC Guidelines

The Fintech Convergence Council (FCC), on behalf of its Digital Financial Service Providers (DFSP) Committee, submitted a representation to the Reserve Bank of India (RBI) requesting an amendment to the Business Correspondent (BC) Guidelines. The current guidelines do not include provisions for a "digital BC." The representation requested that the RBI update the guidelines (dated September 29, 2010) to reflect the evolving needs of customers in the digital financial services sector.

On September 23, 2024, the RBI clarified that an amendment to the BC Guidelines to include a "digital BC" may not be imminent, as the concept of a banking outlet is currently based on the physical presence of the service provider (BC/Bank staff).

FCC Regtech Committee Quarterly Meeting

FCC's Regtech Committee held its quarterly meeting on September 19, 2024. The discussion focused on several key areas, including challenges and bottlenecks related to eKYC Setu, potential solutions for the standardization of Merchant KYC, and validating/identifying mule accounts. Topics such as PEPs, fraud databases, and name screening were also discussed.

FCC-NSE Creative Awareness Campaign

The FCC, in collaboration with the NSE, is organizing a campaign to spread awareness among small retail investors, enabling them to make informed investment decisions. This campaign went live on April 15, 2024. Several member participants, including Paytm Money, ICICI Securities, Fintoo, and Stockgrowth, took part in it.

The campaign is currently in its sixth round of creative initiatives. The message for September was: "Investing under influence? Letting influencers dictate your investment decisions is a serious mistake."

Marketing Masters' Meet 2024

The Digital Advertising Committee of the Internet and Mobile Association of India organized the Marketing Masters Meet 2024 from September 20 to 22, 2024, at Kumarakom Lake Resort, Kerala. The Meet brought together over 25 marketing leaders for an enriching offsite networking experience focused on enhancing digital customer experiences.

Marketing Masters' Meet participants at a sunset cruise

Participants engaged in collaborative discussions and interactive workshops, emphasizing innovative strategies for measuring and optimizing engagement. The offsite fostered creativity, far away from traditional office routines, allowing industry experts from renowned companies such as Mahindra Holidays & Resorts, Pepperfry, Reliance Ajio, Tata Motors, and Vivo India to share insights and forge valuable connections.

Participants engrossed in a session

Among those who addressed the Meet wee Siddharth Bajaj, Chief Marketing Officer, Dr Batra's^® Healthcare; Abhishek Gupta, Chief Marketing Officer, Edelweiss Life Insurance; Sudha Shankar, Sr. Director - Marketing, Epsilon India; Prashant Choudhury, Head Marketing, Fino Payments Bank; Rishabh Verma, Chief Marketing Officer, Havmor Ice Cream; Sudarshan M, Sr. Director - Acquisition, Head Digital Works; Puneet Kusumbia, VP Marketing, Heritage Foods; Anand Ashok Ghodke, Chief Manager - Marketing, Hindustan Petroleum; Nishant Nayyar, VP & Head of Marketing, Kaya; Neha Khullar, Head Marketing, Kenstar; Ishan Bose, Chief Marketing Officer, KreditBee; Pratik Mazumder, Chief Marketing Officer, Mahindra Holidays & Resorts; Mukesh Ghuraiya, Chief Marketing Officer, Modi Naturals; Sandeep Walunj, Executive Director & Group Chief Marketing Officer, Motilal Oswal Financial Services; Mahip Dwivedi, VP - Marketing, Growth & Alliance, Pepperfry; Manesha Kulkarni Colaco, Sr. VP & Head Marketing, Prudential India Health; Pawandip Singh, Chief Marketing Officer, Rapido; Arpan Biswas, Chief Marketing Officer, Reliance Ajio; Ajay Chaurasia, VP - Marketing, RupeeRedee; Ajay Dusane, Chief Growth Officer, Samco Securities; Deepak Mahnot, Chief Marketing Officer, Soch Apparels; Shubhranshu Singh, Chief Marketing Officer, Tata Motors; Lakshman Velayutham, Chief Marketing Officer, Ujjivan Small Finance Bank, and Mayank Prabhakar, General Manager & Head of Digital Marketing, vivo India.

Main partners of the Meet were Affinity, AnyMind (POKKT), MCanvas, Scatter and Think Result.

Webinar on Opportunities in GIFT City, IFSC

The Fintech Convergence Council (FCC) organized a webinar on the "Opportunities in GIFT City, IFSC" on September 12, 2024. It was addressed by Mr. Avan Badshaw, Partner, EY, Mr. Amit Bothra Partner, EY, and Mr. Jugal Kajaria, Director of the Department of Tax & Regulatory Services.

More than 50 industry professionals participated in the webinar.

Webinar on ONDC's Credit Facility: Accelerating Financial Access in the Fintech Ecosystem

The FCC hosted a webinar on "ONDC's Credit Facility: Accelerating Financial Access in the Fintech Ecosystem" on September 26, 2024. The session was addressed by Mr. Hrushikesh Mehta, Senior Vice President - Financial Services, Mr. Antriksh P, Product Lead, Mr. Mohit Monga, Vice President - Products, and Kapish Kaushal, Vice President - Financial Services, from the ONDC team.

Topics covered included an introduction to ONDC Financial Services, unsecured credit, purchase finance, B2B credit, and credit cards. The event saw participation from over 80 industry professionals.