RBI Governor Shaktikanta Das launched UPI Circle and Bharat BillPay for Business at GFF 2024  UPI Circle allows delegation of payments to trusted secondary users, capped at INR 15,000 monthly  BBPS...

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- RBI Governor Shaktikanta Das launched UPI Circle and Bharat BillPay for Business at GFF 2024
- UPI Circle allows delegation of payments to trusted secondary users, capped at INR 15,000 monthly
- BBPS for Business streamlines B2B payments, offering services like invoice management and AR/AP dashboards
- EnKash and OPEN partner with NPCI to launch B2B invoice payments on BBPS for Business platform
- RBI approves FACE as self-regulatory organisation for fintech sector 

 Source: [Inc42](https://inc42.com/buzz/global-fintech-fest-2024-rbi-governor-launches-upi-circle-bharat-billpay-for-business/)

RBI Governor Unveils UPI Circle and BBPS for Business at Global Fintech Festival

Journalist

RBI Governor Unveils UPI Circle and BBPS for Business at Global Fintech Festival- Grapevine

- The UPI Circle-Delegate Payments feature allows primary UPI account holders to delegate transaction rights to secondary users, enhancing shared financial management.
- This feature is particularly useful for families, joint account holders, and businesses, enabling shared access to a single UPI-linked bank account.
- Full delegation allows secondary users to make payments independently, while partial delegation requires primary user approval for transactions.
- The linking process involves scanning a QR code or selecting contacts from the phone, with security measures like passcodes or biometric authentication.
- Key beneficiaries include family members, employees, and rural users, promoting financial inclusion and convenience. 

 Source: [Times of India](https://timesofindia.indiatimes.com/technology/tech-news/upi-circle-what-is-it-features-functionality-and-other-details-of-this-new-feature/articleshow/112690036.cms)

UPI Circle: Revolutionizing Shared Digital Payments in India

- PayGlocal, a Bengaluru-based cross-border payments startup, has received the online payment aggregator licence from the RBI.
- The startup, focused on international payments, has also applied for a cross-border payments licence.
- PayGlocal received in-principle approval for the payment aggregator licence in November last year.
- Founded in 2021, PayGlocal allows merchants to accept payments from customers outside India in their local currency.
- The startup has raised over $17 Mn from investors like Tiger Global and Peak XV Partners. 

 Source: [Inc42](https://inc42.com/buzz/peak-xv-backed-payglocal-receives-rbi-nod-to-operate-as-online-merchant-payments-firm/)

PayGlocal Gets RBI Nod to Operate as Online Merchant Payments Firm

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Does anyone have any insights on how RBI plans to remove the gpay and phonepe duopoly? Saw some news here and there, any insider information?

UPI duopoly RBI plan

Product Owner

Authorization will enable the payment companies to onboard new merchants onto its platform for processing online payments. 

Folks at these companies, how big is this? How is the company reacting?

Last year, the central bank asked Razorpay, Cashfree, PayU, and Paytm, which hold in-principal approvals for payment aggregator licence, to stop on-boarding new merchants till they get the final licence.

RBI lifts ban on Razorpay, Cashfree; allows onboarding new merchants

Product Manager

Welcome to Fintech India's Private Community

Don't know whether we should be happy or sad after hearing this

The National Payments Corporation of India (NPCI), a special unit of the Reserve Bank of India, plans to extend the deadline for introducing a 30% cap on the market share of individual UPI ecosystem participants, the sources said. 

The NPCI had initially planned to enforce the market share cap in January 2021, but postponed the deadline to January 1, 2025. TechCrunch had previously reported that the regulator was moving towards extending the deadline further after concluding that there is no practical solution to address the issue.

source: techcrunch

India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to two years, India is likely to once again extend the deadline for market share caps on UPI in a move that is expected to benefit Google Pay and PhonePe.

India weighs delaying caps on UPI market share in win for PhonePe, Google Pay | TechCrunch

What do you think about NPCI affecting Fintech?

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RBI is a big bully, everybody knows that. RBI has bullied the likes of HDFC, ICICI and a lot of fintech startups. All it wants is that these folks are compliant with the rules.

RBI is one of the most stringent Central banks in the world. This also ensures a lot of financial stability in the country, sometimes overdoing the regulations.

Once you fix the systems and comply with RBI, business is back to usual. This has been the trend in all the notices that have been sent across to all the different companies. Paytm should be no different.

Paytm has a book value of 205. In case the stock hits a few more lower circuits, in the words of Ashneer Grover, it'll be a "Screaming buy".

Every good opportunity comes with a lot of risk. The primary risk here is that Paytm doesn't get its act straight and RBI at the end of February imposes the actions that are mentioned in the circular.
 Next line in such a case. Well the money is lost but if they fix the necessary things within time then it's going to be a jackpot.

Catching falling knives is never easy, and it's bound to hurt you, but hey, "Risk He Toh Ishq He".

Next lower circuit is ~487rs 
The one after it is ~390rs.

I think anything under 500 is great price without the RBI impact. If it hits the circuit tomorrow, I'll start buying on Monday. If it doesn't, well, salary is already credited, so it's time for some risky investment.

Going to buy Paytm Stock

Software Engineer

Will Vijay Shekhar Sharma be able to revive the company in next 6 months or Paytm will lose its existence among upi customers ???

Paytm and it's downfall

The distribution of deposits in scheduled commercial banks(SCBs) across the Indian economy reaffirms that India is fundamentally an ascending world country.

1. Households make up the majority of deposits, a whopping 61.95%, close to ₹11,792,507 crores in SCBs.

It appears that Indian Households are poised as significant potential consumers. It will be interesting to see how startups position themselves towards B2C services and product offerings that appeal to this sector.

2. There is also a significant gender split, with deposits from women roughly being a fifth of the total (20.49%), close to ₹3,900,593 crores. 

This represents a sizeable yet underutilised female demographic, a growth opportunity waiting to be tapped for startups. 
Women centric consumption will become a macro trend as a second order effect. Think maternity care, female hygiene, beauty, women-centric fashion and more.

3. Importantly, the majority of deposits are held in urban and metropolitan centres, cumulating to around 76% of all deposits (around ₹15,270,500 crores). 

It was always obvious that the highest revenue opportunity is in the Indian Metro scene. There exists mainstream relevance and aspiration for folks outside of these spaces. The road to higher likelihood of growth and profitability leads through the Indian Metro.

4. Large deposits for the Non-Financial Corporations at around ₹32,611,52 crores or 17.13% presents an uncanny duality.

On one hand, these corporations are likely competition for startups. But? On the other hand, they can also be viewed as potential clients. 
B2B startups that offer valuable services to these corporations, such as SaaS solutions, stand to gain from this.

5. The Financial Corporations section, represents 5.84% of total deposits (₹1,111,565 crores)

It creates an opportunity for FinTech startups seeking to disrupt or foster partnerships.

Link to RBI data: https://dbie.rbi.org.in/DBIE/dbie.rbi?site=BsrPublications#!21

The Indian Growth Story [2023 Update]

https://m.economictimes.com/tech/technology/non-chinese-lending-apps-including-payus-lazypay-kissht-blocked-on-meitys-order/articleshow/97656552.cms

How safe is it to work in a fintech when RBI/govt goes on banning spree

What will happen to these startups who allow gold investments now? 😂

The end of Jar

Software Developer

PAYTM Payments Bank essentially asked to shut shop. 

Afaik here are the few implications
1. Stock market will react in a bad way to them
2. Worst affected are going to be FasTag users who bought from PayTM.
3. No deposits / credits allowed in any account. Withdrawal is allowed. 
4. UPI not allowed after Feb

Paytm gets a shock from RBI

That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.

Growth Manager

Do you guys agree with the list? Anymore candidates

Dead 11

Oyo was the only Indian startup who had defined a  India specific problem, had a solution and had money to scale. What went wrong? What a pity. 
  
 In comparison Airbnb made it big...

Project Manager

question: do we need another app do payments?

Flipkart enters the UPI race

Is there anyone from Paytm who knows what's going on ?

RBI vs Paytm discussion post

What other apps is there in the market that I can use for small upi payment as I don't want to mess up my bank statement with small upi transactions.

Alternative to Paytm payments bank

RBI guidelines regarding lending has started hitting hard on fintechs. Phonepe was about to pivot its business model to lending to turn profitable.

I had paytm bank account till now and used it like an expense account connecting it to all upi ids etc. 
looking for an alternative now . 
Looked at fi money and jupiter and they seemed good . I liked the pots/jars concept of these and also they give good insights of expenses . Fi money can also connect to other bank accounts and give more insights on expenses . 
Any thoughts?  How good are these ?

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