Policy Brief: RBI issues draft guidelines for ‘on tap’ licensing of Small Finance Banks in the Private Sector

Context On 13 September, the Reserve Bank of India (RBI) issued draft guidelines for ‘on tap’ licensing of small finance banks in the private sector. The move comes after a review of the performance of the existing small finance banks, which were granted in-principle approval in 2015.  RBI had issued the Guidelines for Licensing of “Small Finance Banks” in the Private Sector on November 27, 2014. It was notified in these guidelines that after gaining experience in dealing with these banks, the Reserve Bank would consider ‘on tap’ licensing of these banks. With an aim to encourage competition, RBI announced in its Second Bi-monthly Monetary Policy Statement, 2019-20 dated June 06, 2019 that it would put out draft guidelines for ‘on tap’ licensing of such banks. The Central Bank has placed t...

Policy Update: Bharat Bill Payment System – Expansion of biller categories

The Reserve Bank of India (RBI) has expanded the scope of Bharat Bill Payment System (BBPS) by permitting all categories of billers (except prepaid recharges) who provide for repetitive bill payments on a voluntary basis. BBPS, an interoperable platform for recurring bill payments, currently covers five segments viz., direct-to-home (DTH); electricity; gas; telecom; and water bills. With the new move, repetitive bill payments such as school fees, insurance premiums and municipal taxes may also get included within the ambit of BBPS. “As announced in para 3 of the Statement on Developmental and Regulatory Policies released with the Third Bimonthly Monetary Policy Statement 2019-20 of August 07, 2019, it has been decided to expand the scope and coverage of BBPS to include all categories of bi...

Redefining The Healthcare Landscape Today With Digital Technologies: A Sneak Peek Into LHIF

  This piece has been authored by Raghuram Janapareddy, Director, Lifesciences & Healthcare, NASSCOM Center of Excellence   The LifeSciences & Healthcare Innovation Forum (LHIF) is NASSCOM’s flagship initiative to enable India’s healthcare ecosystem, and a federated platform to unify the biggest players in the sector for technology adoption, implementation and proliferation in healthcare today. The Indian healthcare industry is a behemoth – it is expected to reach $280 billion by next year, and $382 billion by 2022. The industry is growing and evolving due to a variety of reasons that include the rising population, range of illnesses and conditions that need immediate attention; versatility & experience of medical professionals in India; growth of pharmaceuticals, med...

Request for proposals for Pre-Budget Memorandum 2020-21

Based on inputs received from members for Union Budget 2019-20, we have been able to highlight and address some of the major concern areas of IT-BPM industry. Copy of our last year’s Pre-Budget Memorandum submitted is attached for your reference. It’s again time to give you a heads-up for pre-budget engagements for the year 2020-21. In this regard, we have started the process of preparing NASSCOM’s Pre-Budget Memorandum 2020-21 (PBM) to be submitted to Ministry of Finance. Based on our last year’s submission, we plan to structure this year’s PBM with the theme to sustain global competitiveness of Indian IT-BPM sector. The major heads of the documents are as follows: Exports promotion Incentivizing R&D in India Incentivizing talent and skilling Measures to support Startups and MSMEs Enc...

Additive Manufacturing in India

For years, additive manufacturing and 3D printing have been put to work in India for concept modeling, design validation, prototyping, and some tooling. Organizations in the U.S., Germany, and other countries are pushing hard to adopt AM for production applications, with India showing similar interest. Additive manufacturing is the subject of a session at the 11th NASSCOM Design & Engineering Summit on September 26-27, 2019 in Bangalore. I’m excited about participating in this important event. In 2018, additive manufacturing in India was dominated by growing interest in metal AM systems, according to Mukesh Agarwala, managing director of 3D Product Development (3DPD) of Bangalore, India’s largest additive manufacturing service provider. Agarwala contributes a summary on additive manufa...

Leveraging Immersive Technologies for India’s Industry

The promise of Virtual Reality is not new. For decades science-fiction writers have been imagining alternate and digital realities. We’ve seen it in film as well, with “The Matrix” being a well-known example. Over the past seven years, the Virtual Reality industry has gone from fiction to reality. The industry has seen an exponential growth in its technological development, and is expanding beyond “just” VR. With developments in related industries such as Augmented Reality, Mixed Reality, AI and computer vision, the domain of VR has evolved into the broader domain of “Immersive” technologies. It has developed from niche to an industry where Immersive technologies are reaching companies and consumers at an ever-increasing pace. As Facebook-founder Zuckerberg recently shared with shareholder...

Whitepaper: The State of Education and Digital Disruption for the Future

Technology has the power to transform the current global educational landscape. While Ed-Tech is still in it’s nascent stages of development, schools and educational institutions stand at the crossroads of opportunity if they implement this. Connectivity represents the future, and the riding the connectivity wave is what will set apart the disruptive from the forgotten. As tech continues to advance, it will have a significant impact on the people’s thought process, outlook and actionable steps. Learning, thus, needs to become more sophisticated, engaging and adaptive. Limiting it just to the classroom defeats the purpose of a digitally led world. Digital transformation is the present, not the future, and the sooner enterprises realise this, the faster they will achieve organizational excell...

Innovate2Transform: Cloudnine Group of Hospitals Bringing Technology & Innovation To Healthcare

Rohit MA, cofounder and managing director of Cloudnine Group of Hospitals speaks to NASSCOM CoE IoT DSAI on bringing technology and innovation to healthcare in a variety of ways. “Patience is key. Longevity and Sustainability is Critical To Healthcare Startups To Evaluate Themselves.” Rohit MA, Cofounder & Managing Director, Cloudnine Group of Hospitals    You can listen to the entire interview here – https://www.youtube.com/watch?v=0kNgCr4R0dc&t=41s   This is part of our ongoing series Innovate2Transform, where we bring to you the leaders of the industry talk about the latest in innovation, technology and trends in their industry sectors.  If you want to contribute, write to sindhuja@nasscom.in.  For more updates, follow NASSCOM CoE IoT-DSAI on LinkedIn...

Flying to New Horizons with Immersive Technology

With increasing complexity, high-risk business environment and intense competition, aviation is constantly on the lookout for technological enhancements to maintain cost efficiency, improve safety, increase employee productivity, and above all, deliver enriched customer experiences. This is an imperative for all industry stakeholders, including aircraft manufacturers, airline companies and enablers of supporting infrastructure such as airports, logistics, etc. Unsurprisingly, the aviation industry is one of the early adopters of immersive technologies – AR (Augmented Reality), VR (Virtual Reality) and MR (Mixed Reality) and is leveraging it for a very wide range of applications to reinvigorate the end user experience. Value of “Experience” The journey to reinvigorate user experience starts...

Transforming Sports to a Science with Technology

The best part about living in India? The diversity. There’s so much to look up to, in so many different languages, cultures, ethnicities, cuisines…I could go on, but you get the picture. What’s better than this diversity? Something that binds us all together. And what better example to take than Cricket. I can bet everyone was hooked on to their televisions two nights ago, because there’s nothing nearly as exciting as an India vs Pakistan match! Gone are the days where hundreds of people crowded together, waiting to catch a glimpse of the match. Hotstar and other streaming services have acted as saviours, and people can now watch sports on the go. Technology intervention has acted as a boon for the sports industry, and streaming services is just one piece of the pie. A step ahead of Moneyb...