In case you have been considering taking a loan, it is important that you remind yourself that Loan Against Property is always the smart thing to do for they are better in some ways than the regular types of loan. One of the foremost elements of such loan is that they are a form of secure role wherein the bank is easily willing to lend you a handsome sum of money based on the property that you have mortgaged or used as collateral.
Let’s get at acquainting you with the several associated benefits of applying for a Loan Against Property.
Element of security
As has been mentioned earlier, there is better chance of getting your Loan Against Property approved as it is secured as opposed to unsecured loan. This means that the factor of risk associated with default in payment due to any unforeseen situation is less. Chances of money recovery is less difficult for the bank or the finance providing institution. These loans are also better if you are looking to improve your credit score but you must ensure that the title of your property is clear and you are able to provide proof of ownership of it.
Cheaper as well as multipurpose option
These loans, by virtue of being secured, have lesser rates of interest, thus expense, and so are most suitable to meet your emergent financial issues. In addition to this, Loan Against Property is fitted to suit all your varied needs that fall within legal domain. There are very less restrictions as to how the money must be used like in case of student loans. But usually the reasons vary within the range of huge education or medical treatment expenses as also when you are looking to set up your own business or venturing into elaborate travel plans.
Flexibility of routine
It must also be understood that there is a certain degree of flexibility that is provided to the borrower in case of Loan Against Property. Some of these flexible systems are as follows:
Duration to pay off loan is usually longer
Tenure of paying off the loan may be extended to twenty years when the loan amount is higher.
Longer LAP tenure ensures that you are able to pay smaller EMIs befitting your income.
If a slightly larger outstanding amount as a result of longer term of loan is not problematic for you, this is the most suitable option.
Difference in property
You must also be made aware that it is possible for you to apply for a Loan Against Property on any type of property that you may own. As long as you have valid documents to prove your ownership of the property, it could be either residential or commercial property type. You may also apply for a loan with a piece of land that belongs to you or if it is undergoing construction. The factors most at play for lenders are usually the value of the property in the market and whether or not it has complete legal clearances.
ACT Fibernet, India’s largest fiber broadband ISP [Internet Service Provider], launched its new brand identity with the unveiling of the logo and tagline ‘Feel the Advantage’. The re-branding initiative is a strategic component of ACT Fibernet to becoming the most admired in-home entertainment and interactive internet services provider in India.
The new brand identity represents ACT Fibernet’s differentiated approach towards offering innovative customer centric solutions that will enhance user experience and provide maximum value.
In 2019, ACT Fibernet will expand its products, service offerings and partnerships across various categories, namely – ACT Advantage Entertainment, ACT Advantage Gaming, ACT Advantage Speed, ACT Advantage Service, ACT Advantage Smart Cities, and ACT Advantage community.
As part of the activity, ACT Fibernet will partner with content provider like ZEE5 and Sony Liv amongst others to strengthen its content offerings. Being the preferred choice of every gaming enthusiast, ACT Fibernet is working with popular gaming cafes, gaming OEMs and gaming publishers to provide the highest quality gaming experience to users.
Within the next six months, ACT Fibernet plans to launch its broadband services in multiple cities across North & West India, thereby expanding its footprint in the country. The company will also be launching a 24*7 call center and a unified call center number to address customers queries in real time.
In support to the government’s mission towards building a digital India and smart cities mission, ACT Fibernet aims to complete 5000+ wi-fi hotspots across Bengaluru, Hyderabad, Chennai, Vishakhapatnam and others. Further, ACT Fibernet is jointly working with the state government of Chennai, Hyderabad, Bengaluru to enable free wi-fi connectivity in public libraries and schools.
Speaking on the launch Bala Malladi, CEO, Atria Convergence Technologies Ltd. said
We have always believed in providing our customers the best solutions through our products and services. Today, consumer needs and usage behavior is continuously evolving. Newer technologies are constantly being adopted and becoming mass-scale by the day, be it streaming or gaming or smart homes. It is therefore our responsibility to work in conjunction with the rapidly evolving customer’s expectations and find feasible ways to serve them. We strongly believe that our new brand identity reflects this value and commitment we have towards our customers.
Moving forward, we will be launching new products and services that our consumer’s desire. We are confident that with our pioneering fibernet connection, hyper fast speeds, new offerings and industry’s best customer service in place, we will successfully transform our customer’s experience enabling them to do and accomplish more. With ACT you can Feel the Advantage.
The new logo represents the brands ethos– Sharp, futuristic, innovative, exciting, creative and modern. The tagline ‘Feel the Advantage‘is simple but powerful expression of the brand’s mission, values and commitment.
About ACT Fibernet
ACT Fibernet is India’s largest fiber-focused wired broadband ISP as on September 30, 2017 [in terms of number of fiber broadband internet subscribers from residential homes] [Source: India Broadband Market Overview – 2017 dated February 19, 2018, prepared by Media Partners Asia]. Headquartered in Bengaluru. ACT Fibernet has operations in 15 Indian cities as on December 31, 2017 with approximately 1.28 million customers.
A Systematic Investment Plan [SIP] is one of the ways of investing in a mutual fund, and it has become one of the most popular investment tools in the last few years. With an SIP investment, the investor has multiple flexible options. An experienced expert does all the hard work , making sure that your money is safely invested to make sure that your money grows systematically without too much risk. If you decide to invest in an SIP, you should first understand the options you have. You can use four kinds of SIP investment options. Study them well to know which plan matches your needs the best.
Types of SIPs
Here are the details about the four kinds of SIPs.
This form of SIP investment works exactly how it sounds. You can use the top-up facility with this system by increasing the amount of investment on a regular basis, following the interval allowed by the particular plan. The benefit of this plan is that you can decide on how much to invest in the SIP depending on the performance of the mutual fund. This way, you can make sure that you get the best out of a well-performing fund. The better the returns, the more you can invest in the next cycle to increase your income systematically.
This type is an upgraded version of the previous one. The flexible SIP investment allows you to not only increase but also decrease the amount of money you are investing in. You can use this plan to invest according to your income. You can also skip paying into the SIP if you do not have enough money flow during a particular investment cycle. You can then again invest more than the previous cycle when you have the capital. This flexibility allows you to invest and gain profits according to your financial state in any particular time period.
A perpetual SIP is an investment plan without an investment time limit. Just like any other investment plan, SIP too comes with the option to invest your money for a particular amount of time. It can be anything from a year to a decade or even more. However, with a perpetual SIP, you do not have to set an end date. This way, you will have the complete freedom to withdraw your funds at any given moment.
You can redeem the funds when you meet a particular economic target or when you think that the SIP is not performing as well as you had expected. You must remember that the SIPs with a fixed period of time can help you have more economic discipline, but it is always better to have your options open.
With this plan, you can set a particular date or financial event, like an improved index level, when the SIP starts. However, this plan requires you to have in-depth knowledge of the financial market to eliminate the risks of losing money.
The concept of a shared office has witnessed unprecedented growth over the last few years and has literally revolutionized the way the world and Indians work. Co-working spaces, as they are better known, are helping people find flexible, productive workspace options.
Globally as well as in India, the growth of this concept can largely be attributed to a start-up ecosystem, whose preference for co-working space is due to multitude of reasons. It includes lower rentals, savings on operational costs and a more flexible work environment. At present, India has about 300 co-working spaces spread over 15 million square feet. The demand will continue to rise across the country so much that about 13 million people are expected to work in co-working spaces by 2020.
It is interesting to note how the rise of co-working spaces is influencing normal office design today. Numerous surveys have established that millennials are set to form nearly half of the global workforce by end of this decade. As a result, all new office spaces, co-working or not, need to address the requirements of this new workforce. For the millennials, offices are no longer restricted to the confines of an uninspiring cubicle or a desk. A design language is slowly evolving to create workplaces which can enhance creativity, use technology to network and make the workers feel empowered.
Let us now try to understand how co-working spaces are redefining office design in the 21st century
The workplace has changed and changed for good. All offices today need a decent community space near their entry which was unheard of earlier. The idea is that employees will mingle in this space and also conduct informal meetings all day long. The standard brief today to an office designer is that the office look-and-feel should appeal to the millennial and there should enough space for collaboration. Standing meeting rooms are getting common. Phone booths and nooks are a space requirement which cannot be ignored today while planning spaces in an office.
People are bored of the grid ceiling. Designers have realized that it is possible to have offices without ceiling. All the services running above the ceiling are now seen and used as significant design elements. The added height is always an advantage. Designer metal ceilings, wooden rafters, fabric elements, acoustical materials are now used to accentuate specific areas in the office. Biophilic elements are also being introduced in the ceiling.
The nylon carpet tile, which was the default flooring option in an office is slowly giving way to raw tiles, wooden planks or even bare concrete finish. Carpets and rugs are being limited to only meeting spaces and cabins. Luxury Vinyl Tiles and any material which brings warmth in the office are being explored.
Solid walls are giving way to transparent walls. Glass is the preferred material for all partitions unless we need solid wall for functional reasons. Screens, metal frames and even fabrics are being used to define semi-formal spaces. The long boring corridors are livened up with eclectic artwork, theme based installations and graphics.
The cubicle is dead and the linear workstation is the new way to work. This is now a reality because the nature of work in offices is also changing. Using a smaller module for your worktable is opening up spaces which can be used creatively to enhance the workspace experience for employers. Hot desks and agile workspace are now part of the new office furniture idiom.
As the grid ceiling makes way for open ceiling, the 2*2 light fixtures also is making way for decorative office lights. Designers are going berserk selecting various types of decorative light fixtures to literally decorate their offices.
Most of the corporates today have already decided to have at least 30% of their seats in collaborative spaces. This means, there is a sudden need for designer loose furniture in these spaces which are functional and aesthetic in nature.
Functionally, there are differences between a co-working space and a company owned corporate office. However, the popularity of this disruptive design among the millennials cannot be denied which is in turn influencing mainstream designers to adapt it for their corporate clients. As a design trend it is here to stay and thrive.
However, the end users need to note that following a new trend does not mean we ignore the fundamentals of circulation and engineering. We still need to make sure our offices are energy efficient and functionally aligned to employee wellness. Sound, light and temperature can affect the performance of an employee if not designed well. With that word of caution let us remain positive about the new direction in office space design thanks to the advent of co-working concept.
Robotech Private Limited has been selected by Startup Grind, powered by Google for Startups, as one of the top 60 startups inducted into the 2019 Accelerate Program. Additionally, Robotech will be a featured startup for the 2019 Startup Grind Global Conference held February 12th through February 13th in Redwood City, California.
India’s real flag-bearer of 21st-century education, Robotech, recently launched an online peer-to-peer learning platform named My STEM Time, comprising a plethora of STEM-based educational videos.
This ground-breaking program imparts among the learners the most desired skills of the current scenario. These skills revolve around automation systems, AI, IOT, Drones, 3D Printing, Advanced Microcontrollers, Robotics, Programming languages, and other technologies in demand. Through My STEM Time, the users [mentors and students] work in synergy to create an ecosystem where hands-on learning is accessible to everyone.
Expressing enthusiastic views over the selection for Startup Grind’s Accelerate Program, Nishant Jain, MD, Robotech Pvt Ltd said
Robotech’s year of expertise in hands-on educational practices, teacher training programs, and PAN India-spread tinkering labs have empowered it to design this [My STEM Time] portal that caters to the future’s technological needs. We expect the Startup Grind’s Accelerate Program to be instrumental in the evolution of such ed-tech offerings by Robotech.
Apart from this online platform, Robotech has forayed into numerous other programs to prepare the learners for the next industrial revolution. These offerings include tinkering labs, STEM competitions, assessments, STEM educator program, and educational kits.
About Startup Grind
Startup Grind is the largest independent startup community, actively educating, inspiring, and connecting 2,000,000 founders in more than 600 chapters globally. Founded in Silicon Valley, it nurtures startup ecosystems in 130+ countries through events, media, and partnerships with organizations such as Google for Startups. Startup Grind also hosts two flagship conferences annually — the Global Conference and Europe Conference. To date, Startup Grind has helped millions of entrepreneurs find mentorship, connect to partners and hires, pursue funding, and reach new users.
Project management plays a vital role in proper planning and executing a project and to successfully accomplish a goal within a given time frame. In India, the project management jobs in project-oriented industries is expected to reach 21.7 million in 2027, according to Project Management Institute [PMI]. We should create and monitor project methodology standards, provide advice and create an environment to support our project managers.
As per a recent analysis by PMI, project managers contribute to a nation’s productivity, which supports GDP that in turn contributes to the standard of living. It is estimated that the GDP at risk due to the project management talent shortage is US $23.4 billion in India.
Our customers are spending significant services amount on consulting, implementation and system integration. Hence, going forward, our constant engagements would be on how to improve the customer service and satisfaction, enhance employee productivity and shorten project timelines. We should start building assets that can help us align for this and proactively suggest best practices based on what we have learnt from projects with other clients. We need to package our existing thought process that can help bridge gaps between expectations and reality. We need to ensure that our project management capability helps minimize the risks, control costs, improve speed to market and make substantial improvements in our margins.
Let’s delve into some of the best practices that we should implement to enhance the project effectiveness.
Project Governance – There must be a common governance structure and framework at the beginning of each project, outlining day-to-day operations with short term and long-term goals clearly laid out, and certain parties must be tasked with the responsibility of ensuring completion of the said goals. This includes pre-determined points at which the progress is evaluated and decisions about next steps are made. These decisions should be duly recorded and thoroughly communicated down the chain of command, if they are to be effective.
Monitor project management quality – Quality assurance in project management involves regulating and managing the services that the project delivers, ensuring that the quality and consistency is retained. The aspect of quality control incorporates a process of monitoring specific project results to check if they are met or not. The project management team should be aware of the following concepts:
Prevention [keeping errors out of the process] and inspection [keeping errors out of the hands of the customers]
Special cases [unusual events] and random causes [normal process variation]
Advice project managers on risk management – The risk control phase includes risk management plan which supports to address a risk, based on suitable cost-effective control strategies. Here, the focus is to proactively minimize the risks before it occurs or to reactively recover it from the loss and restore the normal process state. Apart from being advised, the project managers also need to evaluate risks and find out ways to mitigate it. They also must identify potential risks in a timely manner.
Analytics/Metrics development – Analytics in project management provides continual improvement process. It also helps project managers to make tactical decisions, thereby improving project success rate. Project management analytics ensures that the projects are completed on time and according to specifications. Project metrics measures the success of the project. Some of the key metrics that can be used in project management:
a. Operational Excellence Metrics – It is at the core of every project and must be tracked and reported on for every iteration.
b. Business Value Metrics – These are used to determine the business value of a project like Return on Investment that indicates the bottom line of the return on any investment; Earned Business Value which is used to track the value of the requirements being delivered; Net Present Value which is used in capital budgeting and investment planning, to analyze the profitability of projected investment and Internal Rate of Return which is used to evaluate the attractiveness of a project.
c. Human capital – This represents the skills, knowledge, and values of the development teams and their readiness to do their jobs.
Project templates – Project template provides patterns to project deliverables, serving to increase understanding, save time and improve the quality of project outcomes. Project templates need to serve as per customer preferences as different audience have different needs. It acts as a repository for the work products created during project life cycle. Providing your project team with options for what deliverables they use and how they use them provides a fit-to-purpose approach to project deliverables that will improve your project team efficiency.
Best practices to be implemented post project go-live– Post implementation reviews should assess how successful the system is in terms of functionality, performance, and cost versus benefits, as well as assess the effectiveness of the overall project life-cycle and areas of further development. Project managers can gain through historical views of similar projects which will show comparative efforts, cost and resource usage, that in turn provides a wealth of information to guide future projects.
About the Author
Vineet Kumar is the Lead Consultant BI & Analytics, 3i Infotech. You can find more about him here.
When planning your financials, it is important to keep tax in your mind. This will not only help you plan your financials well, but also save your hard-earned money wherever you can and also enjoy some benefits. Tax planning strategies will allow you to claim exemptions, deductions and rebates under different IT provisions and Acts. Hence, it is important to learn all that you can or consult an expert to understand better.
ULIP plans that are offered by many life insurance companies are one of the best ways you could save on tax. Besides, they also come with a lot of benefits that can prove to be extremely beneficial to you and your family. Depending on your tax bracket, ULIPs can actually help you save up to INR 45,000 or more, every year.
What is a ULIP?
The full form of ULIP is Unit Linked Insurance Plans. ULIP is a combination type of investment where the policyholder is allowed to pay a premium amount either monthly or annually. With this type of policy, a small part of your premium will go to secure life insurance, while the rest of your money is invested in debt or equity schemes.
With a ULIP investment, you have the option of selecting the type of fund you would want your premium to be invested in. A policyholder would keep on investing throughout the term of the policy – that would be 5, 10 or 15 years. A more conservative investor could go in for a debt option, while the aggressive ones could pick equity plans.
Types of ULIPs
There are different types of ULIP investments that you can make.
Equity funds – With this type of fund, the premium that you pay is invested in equity. This kind of investment is subject to higher risk factors.
Balanced funds – The premium you make with this type of ULIP is that it is balanced between the equity market and the debt in order to minimize the risk.
Debt funds – With this type of ULIP, the premium would be invested in debt funds. This comes with lower risk, but also offers lower returns too.
End Use of Funds
You could use your ULIP investment funds in the following ways:
Retirement planning – If you’re looking to invest for your retirement days while you are still working, ULIPs are a good way to go to save up for your future.
Child Education – ULIPs are also a good way to save for long-term goals like children’s education or other unforeseen circumstances.
Wealth Creation – If your intention is just to make an investment to build a good corpus so that you could use it for your future financial plans then ULIPs are a great way to save for that.
Save Tax Under Sections 80C & 80CC
Just like all your other life insurance investments, the amount that you also invest in a ULIP plan can help you save on your tax. The two provisions of the income tax Act that would be applicable for a ULIP are Section 80C and Section 80CC.
According to these tax provisions, there would be an exemption of up to Rs.1, 50,000 under Section 80C and Section 80CC. This also means that you could invest in a higher amount, but the total deduction would be capped at Rs.1, 50,000 per annum. However, the important thing to keep in mind is that your yearly premium should be less than 10% of the sum that is offered by the ULIP plan.
Another thing with regards to ULIPs is that in order to claim for deductions, your ULIP plan must be active for at least two years. Also, if you happen to stop your ULIP plan during the second year, all benefits that were availed in the first year would be withdrawn. So ensure that you have long-term investments and you continue to make payments towards the premium amount for the entire term.
Other Benefits of ULIP
Some of the other benefits of ULIP investments are:
Life Cover – ULIPs come with life cover as well as investment. It gives security to a taxpayer’s family in case of emergency like the untimely death of a taxpayer.
Long Term Goals – In case you have long-term goals like marriage, buying a house or a new car and suchlike, then ULIP is the perfect investment option for you. Since the money in ULIPs are compounded, the net returns that you get would be more.
Flexibility of Portfolio Switch – ULIPs are designed in such a way that they give you the freedom to switch your portfolio based on your risk and knowledge of the market.
Other Things to Consider as an Investor
Following are some of the important things to consider before you invest in a ULIP plan:
1. Personal financial goals – ULIP investments are one of the best options available in the market today if your financial goal is to save money for your retirement or other life goals. ULIP returns are also good if you make the right investment choice.
2. Compare ULIP offerings– Once you have decided on your financial goals and zeroed in on the ULIP that will help you achieve it, your next step would be to compare all the different ULIP offerings in the market. You could check out things like ULIP performance, background expenses and premium payments. You should also investigate the funds that your ULIP would invest in to check on the ULIP returns to see if they are beneficial or not.
3. Risk factor – The risk factor with a ULIP plan is a bit high as compared to other type of schemes and plans.
4. Investment – This is another important factor to consider when you go in for a ULIP plan. ULIPs come with a 5-year lock-in period, so if a ULIP is given up within the first three years, then your insurance cover would also stop immediately. And, the value would only be paid after three years.
So do a thorough research and sign up only once you have a better understanding of the product.
The Payments Council of India [PCI] which constitutes more than 100 members across representing various regulated industry players in the payments and settlements systems made a presentation to the RBI Committee on Deepening of Digital Payments [CDDP] headed by Nandan Nilekani at their office in Mumbai.
Mr. Naveen Surya, Chairman Emeritus, PCI, Mr. Vishwas Patel, Chairman, PCI and Director Infibeam Avenues Ltd, Mr. Loney Antony, Co-Chair, PCI and Managing Director, Hitachi Payment Services and Mr. Gaurav Chopra, Executive Director, PCI met RBI and presented its key recommendations for driving financial inclusion through payments.
In its report the council has recommended a medium to long term strategy for accelerating the growth of digital payments in India backed by a regulatory regime which is conducive to enhancing parity between cash and digital payments, offering seamless access to payments and settlements infrastructure [RTGS], formation of a KYC bureau, promoting economic viability through tax incentives and exemptions, stimulating competition and offering customer choice while safeguarding transactional security and providing a level playing field to new entrants.
Considering cash is the most competitive and attractive payment option, the council has suggested that all the digital platforms especially PPIs should be allowed to seamlessly issue and allow payments and remittance transactions below INR 50,000/- with minimum KYC [mobile verified] which will enhance parity between cash and digital transactions.
Currently only Prepaid Payment Instruments [PPIs] have been partially allowed direct access to payment transactions through card networks and UPI; the council has suggested all payment entities should be given seamless access to all payment infrastructure and settlements systems. Interoperability to PPIs which is currently only allowed to merchants and remittances at the domestic level should be extended to foreign merchants and foreign inward remittances.
Other Key suggestions made by PCI
Allowing cash out from PPIs through ATMs and agent networks for domestic remittances of unbanked population
Leveraging Electronic Benefit Transfer [EBT] and Direct Benefit Transfer [DBT] processing through PPIs as an efficient and economical solutions
Conversion of all PPIs to full KYC accounts within 12 months from issuance not to be time bound but the conversion should be based on the value and additional features availed by the customers
The council has suggested the non-bank merchant acquirers to be allowed to take direct membership with card networks to acquire merchants under their own BIN. Also settlements being an important function, the council has recommended a seamless access for non-bank entities to key payment systems like RTGS, and NEFT among others.
The council has suggested NBFCs to be allowed the issuance of credit card [physical or digital form factor]. PCI believes the credit card is one of the most critical instruments for the growth of digital payments in India. While approximately 40 million credit cards have been issued so far the credit bureau hosts 400 million+ consumer records, clearly indicating to the untapped market base. The council is therefore betting big on the credit card issuance framework by NBFCs to be play a catalyst for the growth of digital payments across the economy.
The monthly retail payments currently are aggregated at approximately USD $275 billion and we are eyeing for USD $500 billion in the next two years. This clearly indicates our country is on the verge of becoming a digital superpower.
However cash still reigns supreme and to digitize the cash use in the country we need to build a robust digital payments ecosystem besides enhancing customer faith in the industry. It was a great opportunity for us to present our recommendations to CDDP and we are confident that Mr. Nilekani who has played a critical role in building India’s digital story will help us transform the sector preparing it for the next phase of growth.
Vishwas Patel, Chairman, PCI on behalf of the council suggested considering a KYC bureau for the entire payments system owing to technological challenges in the central KYC registry system [cKYC]. He has recommended access to eKYC or digital KYC framework and an inter-operable KYC infrastructure as urgent and critical to improve customer acquisition cost across payment services besides avoiding cost duplication.
He also stated that ‘Government support in form of GST tax exemption in services like Domestic Remittance, Import duty on PoS etc. is key to drive investment and penetration in the middle and bottom of the customer pyramid.‘
The council has recommended the capital and net owned funds [NoF] should be proportionate to business as it is critical from compliance cost perspective. Besides they have suggested the payment service providers [PSPs] to be allowed to seamlessly cross sell third party financial products like credit, insurance [medical/accident] among others which will nurture sustenance of the business model while offering convenience to customers.
According to Loney Antony, Co-Chair, PCI and Managing Director, Hitachi Payment Services
All viable and profitable payment initiatives should be fully opened up to the market on a continuous basis to drive competition and innovation via ‘on tap licensing policy’ rather than a onetime ‘window’ approach. Besides all payment entities should have the option to move up or down the value chain provided financial net worth criterion is being met with.
Also in the absence of a Regulatory Sandbox an appropriate framework should run continuous pilots on new ideas and concepts under the industry and regulator’s supervision to foster innovation.
The council strongly recommends offering end customers the choice of deciding the level of KYC for payment transactions basis his frequency, convenience and risk appetite. They have also proposed for an independent security standard/ certification to establish online payment systems as ‘Safe to Pay’ based on fulfillment of the safety and security requirements, so as to give customers the trust to transact online in a safe and secure manner besides a framework for sharing of fraud related data [negative list of individuals] by PSPs to an independent body for better vigilance and controls.
The board of payment and settlements system to be strengthened with a full-time independent payment expert was another important suggestion.
About Payments Council of India [PCI]
Payments Council of India [PCI] is a part of Internet and Mobile Association of India and represents more than 100 players in the payments and settlement systems. Its objective is to address and help resolve various industry level issues and barriers which require discussion and action. The important stakeholders are prepaid payment issuers, payments banks, merchant aggregators and acquirers, payments networks, BBPOUs, UPI facilitators and International Remittances facilitators.