APN News

  • Wednesday, January, 2022| Today's Market | Current Time: 10:16:48
  • Mandar Agashe— , Founder and Vice President, Sarvatra Technologies

    “With the waiver of charges on payment modes like RTGS and NEFT, RBI is clearly nudging the banks towards increasing digital payments. This move will specially benefit the small traders who deal in small value transactions and operates  on small margins and for whom every penny counts. So this is actually a great move for the masses and will go a long way in encouraging digitization of payments and enhancing financial inclusion. Moreover RTGS and NEFT are much cheaper modes than other payment mechanisms like Cheques in terms of the cost involved in managing end to end transactions until settlement. This move will therefore benefit banks and the entire ecosystem by encouraging more volumes.”

    Raman Kumar— Chairman and Founder of CASHe

    “The interest rates are amongst the highest in the emerging economies. The reduction in repo rate by 25 bps will directly bring down the rate of EMI which means consumers can now avail home, auto and other loans at much cheaper rates. This will encourage lending and credit thereby boosting the overall economic growth.  This is the third straight interest-rate cut which will  largely ease liquidity and nurture the investment cycle. This will also revitalize consumption, enhance demand and exports besides resolving the ongoing liquidity issues in the financial sector.

    Besides, the waiver on RTGS and NEFT charges will further promote digital transactions. We are looking forward to a strong growth momentum in the coming fiscal which will be backed by robust investments by the government.”

    Sarvatra Technologies, India’s leading payments and banking solutions provider.is a company based out of Pune. The company has played crucial role in developing bring co-operative banks on digital platform. It is also leading when it comes to implementing and managing various payment platforms like UPI, AEPS, IMPS etc. for leading banks and payment companies. UPI platform on ICICI Bank, WhatsApp, Google Tez etc has been developed and Sarvatra Technologies.

    With 650 crore loans disbursed till date, 23 lakh app downloads, 2 lakh loyal customers and 75% repeat users, CASHe is today the country’s fastest growing digital only lending platform focussed on improving the financial worth of young urban professionals with transparent and simple short term financial products. Established in 2016 CASHe today owns the biggest loan book at this point in time.

    Gaurav Chopra, Founder & CEO, IndiaLends

     “RBI’s decision to reduce repo rate by 25 basis points to 5.75%, augurs well with the retail lending sector. Amidst global uncertainty, subdued domestic industrial activity & CPI within RBI’s comfort zone of 4% within a band of + or – 2%, this anticipated reduction is a welcome move.

    This rate cut will cause a rise in the overall investment demand and improve credit environment of the economy. The reduction will give an extra room for the retail loans to become cheaper as this will cause the current cost for lenders to go down along with a possible chance of tenure reduction for old customers. If the eventual lending rates get lower, we can expect a slight motivation from end consumers to borrow more. Additionally, the decision to eliminate charges on fund transfers through RTGS and NEFT routes will provide the necessary impetus to digital fund movements.”

    Vinay Bagri, Co-founder & CEO, NiYO

    Views on On-tap licensing of small finance banks

    “RBI’s decision to accept small finance bank applications on-tap is a much anticipated and welcome move as the current SFBs have been doing a commendable job on achieving the goal of financial inclusion.  As a financial inclusion platform for the blue collared workforce in the country, NiYO wholeheartedly welcomes the move. RBI should also look at a new category of license for new age digital banks or ‘Neo-Banks’, which operate as a differentiated banking platform solving a particular part of the financial inclusion problem in a robust and efficient manner.”

    Views on Foreign Exchange Trading Platform for Retail Participants

    “Opening an electronic forex trading platform for retail participants with a fair and transparent price discovery mechanism is going to be a huge relief for the retail forex payments market, where traditionally customers had to pay hefty fees and charges. This decision is in line with NiYO’s belief in democratizing the foreign exchange payments mechanism for over 25 million Indians travelling abroad every year, with an easy, convenient and secure way to pay outside India, with no forex mark-up.”