Mr. @Formatterr, CEO of @finarkein, and panelists Mr. Rajit Bhattacharya (CEO, @DataSutram), Mr. Anil Yadav (Head of Data Engineering, @hdfcsec), and Mr. Saurabh Maheshwari (SVP, Financial Crime Intelligence and Head DTM, @AxisBank), discuss the transformative potential of Open Finance and the power of collaboration in the fight against fraud.
Good to see a Technology Service Provider in the AA ecosystem getting funded.
Finarkein Analytics funding: Finarkein Analytics raises $4.75 million in funding from Nexus Venture Partners, others https://t.co/Bce0vUfjAM @finarkein
📢 @finarkein, a data products company, has raised $4.75M in a Pre-Series A round led by @NexusVP. The round also saw participation from existing investors @IIFL_Finance's Fintech Fund, @eximiusvc, and angels.
"The new ReBIT schema presents a fundamental shift in the data landscape for the insurance industry, influencing data processing, risk assessment, and product positioning."
The Reserve Bank Information Technology Pvt Ltd (ReBIT) has unveiled two different insurance schemas for Life and General Insurance, departing from the traditional one-size-fits-all approach.
The new schema entails significant revisions within Profile, Summary, and Transaction data types, introducing, preserving, and omitting. The evolution of these schemas signals a dynamic shift in the insurance landscape.
Delve deeper into the specifics of these changes in our latest blog. Special thanks to Sahamati volunteer Mr. Akash Agarwal for his invaluable contribution to shaping this blog.
Read the blog and the schema change mapping here: https://t.co/kNJGAzFZ8v
#accountaggregator #ReBIT #SchemaChanges #insurance #data
Everyone has heard of UPI.
But did you know that India just launched another piece of fintech infrastructure that is showing similar blazing growth?
One that has the potential to completely change the country's financial landscape in the same way that UPI did?
Learn more 👇
ok frenz, the electoral bonds hearing is coming up in Supreme Court tomorrow and it is going to be one of THE most crucial judgments that the SC has ever delivered.
If you are someone who doesn't know why, this is an oversimplified thread for you. 👀
I was lucky to be present recently in an event where @Formatterr (Mr. Nikhil Kurhe) Co-Founder & CEO Finarkein Analytics had a fireside chat with @JeetMarwadi on the 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐀𝐠𝐠𝐫𝐞𝐠𝐚𝐭𝐨𝐫 𝐟𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤 𝐚𝐧𝐝 𝐡𝐨𝐰 𝐢𝐭 𝐢𝐦𝐩𝐚𝐜𝐭𝐬 𝐭𝐡𝐞 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 at large.
In the beginning itself, Nikhil gave a punchline: “𝐓𝐫𝐮𝐬𝐭 𝐢𝐬 𝐩𝐚𝐫𝐚𝐦𝐨𝐮𝐧𝐭 𝐢𝐧 𝐟𝐢𝐧𝐚𝐧𝐜𝐞”.
Being an expert in data analysis, Nikhil explained the nitty-gritty of what this framework is all about, how it works, how it is useful for digitally prepared #India, etc.
Having such good command over knowledge and amazing communication skills, Mr. Nikhil is a highly sought-after person in the data analysis industry.
Nikhil and Jeet briefly discussed about the various #Indiangovernment protocols like #Aadharinitiative, #AyushmaanBharat, #NPCI, #Sahamati etc. They analyzed together where the personal data is shared. Eg: Lending, Insurance etc.
With this useful fireside chat, I have drawn the conclusion that we need to position meaningfully in this new #digital era of India. There is room for every genuine #entrepreneur, as we Indians are more value conscious than being price sensitive.
𝐓𝐡𝐚𝐧𝐤𝐬 @1FinanceHQ & 𝐌𝐫. 𝐍𝐢𝐤𝐡𝐢𝐥 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐬𝐞𝐬𝐬𝐢𝐨𝐧!
@kevalb26@anoojrmehta@join2manish@nehanagarr@KirtanShahCFP@BahlKanan@CADeepakBhati@mugdhakalra@financewsharan@shinjini9 Pushkar Chugh CFP @vivekrege
#Appreciationpost
#1finance #GFPSUMMIT2023 #worldfinancialplanningday #finance #planning #personalfinance #wealth #wealthcreation #entrepreneurship #business #socialmedia #linkedinpost #Mumbai #kamleshbarariya
What is iSPIRT? Read this thread to understand who we are
TL;DR : iSPIRT is a non-profit tech think tank whose volunteers did pioneering work on India Stack, UPI, Digilocker. Our goal is encouraging 🇮🇳 entrepreneurs build world class tech – make India a product nation!
More👇🏽
BREAKING: We have partnered with @OpenAI to launch WHOOP Coach today, the most advanced generative AI feature to ever be released by a wearable.
Members can now ask @whoop anything about their data - and receive instant feedback.
Only 0.3% of Indians go to the gym.
— Streets not built for walking, and air quality is low
— Most food is unhealthy: fried, processed, low protein
— Social events are centered around food and drink
— Culturally, "life" > fitness
This drastically reduces our lifespan.
1/5
The greatest man you've never heard of died this week on Wednesday, September 6th.
Marcel Boiteux built the French nuclear fleet as head of national utility EdF, making superb, far-sighted decisions against powerful entrenched interests.
Decisions such as abandoning the poorly-performing French gas reactors for outstanding Westinghouse technology.
And insisting on ruthless standardization that allowed true learning-by-doing, with his teams completing several reactors a year for more than a decade.
His fleet provides 70% of French electricity, and but for the sabotage by his weak, stupid successors inside and outside French government, it should be making half again as much electricity as the 56 reactors do today.
Boiteux's reactor fleet (plus a few more units after his retirement) cost about $150 billion. Compare this to Germany spending about $500 billion on their mess of an "energy transition" which requires them to keep almost all of their coal and gas plants in service.
As a young man Marcel Boiteux refused to accept France's defeat and at age 21 in 1942 as an elite university student he escaped Nazi-occupied France while escorting downed Allied pilots over the Pyrenees mountains to safety in Spain.
Brass. Balls.
This episode revealed the pattern for the rest of his life.
After the war, he studied economics and wrote *the* foundational paper in electricity economics, on how to price electricity service in a way that covered system costs while being fair and sustainable.
He completely understood liberal economics, and knew it did not apply to electricity grids and service. He built cheap power for all, then after his retirement watched as a bunch of pathetic hack economists broke the grid with idiotic "markets" that are failing all over the world.
He rapidly rose in public service after university graduation, and after appointment to the head of Electricité de France, successfully built the most astonishing energy system in the history of the world, proving for all time that a country could truly rely on its own fleet of standardized nuclear reactors producing low-cost emissions-free energy.
Anti-nuclear terrorists exploded a bomb outside the door of his family home in 1977 but he kept building.
It must have been torture for this truly great man to watch twenty years of silly, unserious leaders damage and begin to destroy his beloved EDF and its fleet of reactors, leading France straight into its worst energy crisis since the oil crisis of 1973 that triggered Boiteux's nuclear fleet construction in the first place.
But he didn't come up with the idea of a nuclear fleet powering a total electrification of the economy because an oil crisis hit. He was too prophetic to be a mere reactionary. Rather, he declared the slogan "All nuclear, all electric" months before the OPEC embargo hit in 1973.
Marcel Boiteux died this week at the age of 101.
Congratulations to the entire @g20org team for New Delhi Leader's Declaration released today.
iSPIRT is especially proud to see the common definition of Digital Public Infrastructure in the Declaration and the concrete next steps.
#G20India
🚨OCEN 4.0 is ready for prime time 📈
Watch how Open Credit Enablement Network (OCEN) revolutionizes short-tenor Cash-Flow lending @StratNewsGlobal#OCEN4 promises to be a win-win for lenders and MSMEs in need of credit at affordable interest rates
https://t.co/kCpLwKlEf8
🛠️Excited about OCEN 4.0? Learn about the amazing opportunity it opens up with the Borrower’s Agent (BA) role. Understand what this role does, how it creates value for all network participants in our third open house on OCEN 4 👇🏽
https://t.co/Sm1N9kVc0m
For people who get as excited as me to read the latest updates in the #DPI space (especially from a governance and inclusion lens)
Achieving global consensus on 'why a DPI approach' will be a major win for @g20org@India_Stack
a)https://t.co/Cim7r2U6iI.
b)https://t.co/KVmyvx1Xbq
🌐 A Governance Open House was co-hosted by Sahamati & @Vidhi_India , where luminaries from India's digital ecosystem converged to deliberate for a robust governance framework in the #AccountAggregator (AA) ecosystem.
Esteemed speakers graced the occasion, enriching the discourse with their expert insights:
🔹 @NandanNilekani , pioneer of India's digital public infrastructure, shared his invaluable perspective on India's journey in digital public infrastructure governance.
🔹 @rahulmatthan , Partner at Trilegal, elucidated the evolution of the Digital Personal Data Protection Act and its profound implications for the AA ecosystem.
🔹 @arghyasengupta and @ManjushreeRM , from @Vidhi_India , shed light on the 'N.U.D.G.E.' report, outlining the need for a comprehensive governance model in the AA Network.
🔹 @pramodkvarma , the architect of Aadhar, India Stack, and Beckn Protocol, emphasized the essence of network trust and the importance of interoperability beyond just technological considerations.
🔹 Shri R Gandhi , former Deputy Governor of the Reserve Bank of India, offered a deep dive into governance models in the financial ecosystem.
💡 The 'Nurturing a User-Driven Governance Entity (N.U.D.G.E.) for the Account Aggregator Ecosystem’ report published by the Vidhi Centre for a Legal Policy charts a path forward for consent-based financial data sharing in India. It served as a timely kickstarter to the conversations around governance of the AA ecosystem.
The roundtable discussion was the pinnacle of the event, centering on the pressing need to nurture a user-driven governance entity for the AA ecosystem, aligning closely with the insights presented in the Vidhi report. The urgency stemming from the impending Digital Personal Data Protection Act 2023 further underscored the gravity of the discussions.
As we embrace the future of digital public infrastructures, and as governance becomes paramount, these deliberations will serve as a compass, guiding us toward a responsible, user-centric, and secure digital landscape.
Check out the N.U.D.G.E. Report from the given link https://t.co/uD0ppUuXLc
#DigitalGovernance #AccountAggregator #DataProtection #Governance
Congratulations @isro! #Chandrayaan3
As India’s space exploration enters a new phase at 6.04pm today a new phase of data & AI exploration has silently begun with Digital Personal Data Protection law & DEPA training cycle
India has begun its winning journey in AI exploration
Only less than 11% MSMEs access formal credit. Based on UK Sinha MSME Report, OCEN was announced in mid-2021. Now, after many field pilots, it is ready for primetime.
OCEN 4.0 will revolutionize short-tenor Cash-Flow lending in coming years, unlocking credit for many more MSMEs