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Nalin Bansal, Chief Relationship Management at the National <keyword id="20242630" type="General" weightage="20" keywordseo="payments" source="keywords">Payments</keyword> Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), speaking at the Global Fintech Festival 2024 on Wednesday, emphasized that only 25 per cent of payment users are <keyword id="19900675" type="General" weightage="20" keywordseo="women" source="keywords">women</keyword>, with even lower penetration in semi-urban and rural areas. "While we've achieved significant scale in <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword>, penetration remains a challenge, with only 25% of payment users being women, and even fewer in semi-urban and rural areas. Many women's mobile numbers are not linked to their bank accounts, hindering their participation," Bansal said. He added, "Yet, data shows women are 50% less prone to fraud and are highly loyal and engaged users. As an ecosystem, we must prioritize personalized, assisted services and continuous engagement across all channels. UPI123 has made strides, especially for initiatives like Ujjwala, and prepaid instruments hold promise as a 'secret purse' for women. Building trust is crucial, and it is our collective responsibility to foster it." Women are more likely to adopt <keyword id="20853683" type="General" weightage="100" keywordseo="digital-financial-services" source="keywords">digital financial services</keyword> when introduced by local agents or <keyword id="22950816" type="General" weightage="20" keywordseo="community-influencers" source="keywords">community influencers</keyword>, particularly women who can help them overcome social and technological barriers. Women who make at least five <keyword id="19971375" type="General" weightage="20" keywordseo="transactions" source="keywords">transactions</keyword> in the first week of onboarding are twice as likely to continue using <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>. This highlights the need for financial service providers to rethink in-app nudges and sales metrics to encourage consistent usage. 93 per cent of women surveyed expressed the need for ongoing support during the first three months of using digital payments, particularly for grievance redressal during failed transactions. Kalpana Ajayan, Regional Head - South Asia, Women's World Banking, said, "We recognize that digital payments can serve as a powerful tool for women, enabling them to manage their finances more effectively, access a broader range of services, and ultimately secure a better future for themselves and their families." She added, "By addressing the specific barriers that women face in adopting digital payments, we open up a new frontier for growth. This initiative is about much more than inclusion--it's about positioning women as key drivers in the digital financial ecosystem." The NPCI's UPI platform has already revolutionized India's payment landscape, with UPI transactions soaring from Rs 920 million (USD 11.08 million) in FY 2017-18 to Rs 83750 million (USD 1.01 billion) in FY 2022-23, reflecting a staggering CAGR of 147 per cent. The value of UPI transactions reached INR 80.79 trillion (USD 96,287) across approximately 55.66 billion transactions in the first four months of FY 2024-25. Of the 536 million women aged 15 years and older in India, 37 per cent report using mobile internet, making the addressable market for UPI solutions among women around 200 million strong.

Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> on Tuesday proposed relaxing net-worth, qualification and experience requirements for <keyword id="22695845" type="General" weightage="20" keywordseo="investment-advisers-and" source="keywords">investment advisers and</keyword> research analysts, a move aimed at curbing the activities of unregulated <keyword id="22205854" type="General" weightage="20" keywordseo="financial-influencers" source="keywords">financial influencers</keyword>. The proposals will simplify and reduce registration requirements and compliance costs for <keyword id="21253972" type="General" weightage="20" keywordseo="investment-advisers" source="keywords">Investment Advisers</keyword> (IAs) and Research Analysts (RAs) registered with Sebi, the regulator said. In its consultation paper, Sebi has proposed to relax minimum qualification from post-graduate to graduate degree and remove the experience requirement for registration as investment advisers and research analysts. Currently, IAs and RAs are required to obtain the prescribed certifications from NISM at the time of registration. They are required to obtain the same base certifications before expiry of validity of such certifications. Additionally, the regulator has proposed to abolish the requirement of maintaining minimum net worth by IAs and RAs. Instead, it has proposed that IAs/RAs should maintain a deposit with the stock exchange, based on the number of clients. For up to 150 clients, investment advisers or research analysts will have to maintain a deposit of Rs 1 lakh, for 150 to 300 clients, they need to maintain Rs 2 lakh, for 300 to 1,000 clients, the deposit requirement will be Rs 5 lakh and for over 1,000 clients, the requirement will be Rs 10 lakh. Also, Sebi has proposed allowing individuals or partnership firms to register as both IA and RA and allow individuals or partnership firms engaged in non-securities businesses to register as IA/RA. Sebi noted that the Indian securities market has seen a significant increase in domestic investors due to market growth and technical advancements. However, the number of registered Investment Advisers and Research Analysts remains low compared to the large investor base, especially when compared to countries like the United States. "This is leading to proliferation of the unregistered entities acting as IAs and RAs," it added. To ensure investors can make informed decisions and to support the growth in wealth creation, a larger number of registered IAs and RAs is needed, the Sebi said. Recently, Sebi board approved a series of measures on restricting the play of fin-influencers, which focus mainly on policing the segment through their tie-ups with the entities regulated by Sebi. Also, senior Sebi officials in the recent past have said that challenges to get registered as an investment advisor are among the reasons for growth in the problematic fin-influencers segment. The registered investment advisors have said that getting and maintaining the registration is an onerous task due to which their numbers are low. The <keyword id="19901204" type="General" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (Sebi) has sought public comments till August 26 on the proposals.

Sebi proposes relaxing norms for investment advisers and analysts, floats consultation paper

<ul class="summary-list"><li>There's a new card from OTH Network that influencers are swiping to redeem products and services.</li><li>The influencer-focused fintech platform uses AI to match brands and creators.</li></ul>There's a hot new card influencers are swiping at restaurants and retailers to redeem products and services.The card is offered by OTH ("on the house") Network, an <a target="_blank" class="" href="https://www.businessinsider.com/influencer-fintech-channelmeter-launches-youtuber-early-payment-app-2020-7">influencer-focused fintech platform</a> that uses artificial intelligence to monitor content created for brands and match creators with marketing deals. Influencers use the OTH Network app to gather offers from local businesses. Then, after creating <a target="_blank" class="" href="https://www.businessinsider.com/how-to-reach-out-to-brands-influencer-collaboration-post-email">sponsored content</a>, they can spend the payment added to their account in person at the business.The closed platform has a waiting list, which influencers must apply for by filling out questions like <a target="_blank" class="" href="https://www.businessinsider.com/how-much-influencers-charge-sponsored-posts-ai-other-takeaways-data-2024-5">follower count, content category</a>, and location. Once accepted, the creator will receive a black and gold card (like a loyalty card) to use in person to redeem products and services.For example, Sushi Bar in Miami, Flowrbombr Skincare in Los Angeles, and Footnanny Nail Spa in Beverly Hills have all partnered with OTH for <a target="_blank" class="" href="https://www.businessinsider.com/influencer-marketing-is-booming-as-brands-take-creators-more-seriously-2024-7">influencer campaigns</a>.Cofounders Maximiliaan Van Kuyk and Ketan Rahangdale started the company in 2020 and, in September, raised <a target="_blank" class="" href="https://www.businessinsider.com/creator-economy-startups-raised-vc-money-in-bear-market-2023-11">VC funding</a> from Innovate Ventures, according to Pitchbook.In some ways, OTH is part of a familiar practice in the <a target="_blank" class="" href="https://www.businessinsider.com/top-ways-to-make-money-as-content-creator">influencer world</a>: gifting. Brands will often send influencers free products or services with the hope or expectation that they will post about it on social media. But OTH is putting a new twist on this practice by looking to streamline the process using an AI-powered app and giving it an exclusive feel with a physical card."We see influencers opening up like 10 packages a day and putting it on social," Van Kuyk said, referring to traditional influencer gifting practices. "But it's super inorganic."Van Kuyk told Business Insider that the platform currently has over 3,000 creators and over 90,000 global creator applications. In the US, it's available to creators in cities including Miami, LA, Chicago, Las Vegas, and New York, with plans to expand. The company started in hospitality and then expanded into wellness, beauty, and fashion."We are being extremely diligent on only letting in the top creators in cities we are operating in," Van Kuyk said.Influencers who use the platform include Roz Model (15 million Instagram followers), Montana Tucker (3.2 million Instagram followers), Kat Graham (9.7 million Instagram followers), and Matt Staffanina (3.7 million Instagram followers).Creators must have at least 10,000 Instagram followers to be considered, and for now, OTH rarely accepts creators <a target="_blank" class="" href="https://www.businessinsider.com/micro-influencer-campaigns-decline-marketers-turn-to-big-stars-2024-10">under 100,000 followers</a>, Van Kuyk said. But he added that the platform plans to expand into micro influencer categories."We have made some exceptions to that, just because some merchants enjoy that, but for the most part that's where we've been focusing," he said. "We 100% acknowledge that space and we will be moving into that space over time. Maybe we will release a micro influencer strategy product that will be a little bit separate and have different rules around it. But, as a startup, we have to stay focused on what our strengths are."<h2 id="7bd36f65-955d-4320-957f-3b0cd78e7e3d">How OTH Network structures its partnerships</h2>Typically, influencers on the platform are asked to create two pieces of content, like an Instagram story or reel, or TikTok, that features themselves and the restaurant or product. They upload the content to the OTH app, and the platform's AI technology checks the quality of the content.Once the content is approved, the influencer can post it, and the business can then use that content on their own marketing channels.Van Kuyk said the platform makes money by charging the merchants, but declined to expand on its business model and fee structure.Using AI and other third-party systems, OTH checks its applicants for bots, fake followers, and overall engagement. Brands care about a creator's audience, brand safety, and if the creator fits the right aesthetic, Van Kuyk said.Once accepted, the influencer is asked to jump on a call, which is part of an interview process with the company's creator team.OTH is not partnered with a bank. Instead, the card works more like a reimbursement or loyalty card, and each business uses the app to tap the card and redeem the influencer's credit."That is a direction that we're planning on going in, to actually have that be a real Visa or Mastercard that the influencers are banking with," Van Kuyk said. "We have a serious tech team in-house that is constantly building and upgrading these things. It's not just an agency with an app in front of it."

Influencers are swiping a new black card at restaurants, spas, and fitness studios

The <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on the cusp of substantial growth, driven by rising per-gram gold rates and increasing customer demand. Currently, the market is predominantly controlled by the <keyword id="21485305" type="General" weightage="20" keywordseo="unorganized-sector" source="keywords">unorganized sector</keyword>, which holds a 63 % share, while <keyword id="22789155" type="General" weightage="20" keywordseo="organized-players" source="keywords">organized players</keyword>, including banks and Non-Banking Financial Companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>), account for the remaining 37 %, according to a recent <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="83" meta.entityid="PwC">PwC</keyword> report. Indian households are estimated to possess approximately 25,000 tonnes of gold, valued at around Rs 126 lakh crore. Despite this vast wealth, the existing gold loan market through organized channels is valued at just Rs 7.1 lakh crore. With the market penetration of gold loans in India currently at only 5.6%, there is considerable untapped potential within <keyword id="22902023" type="General" weightage="20" keywordseo="household-gold-holdings" source="keywords">household gold holdings</keyword>. Although not all gold is available for pledging--due to factors such as religious significance, emotional value, or lack of financial need--there remains substantial opportunity for growth in the gold loan sector. The gold loan market in India has historically been dominated by the unorganized sector. However, in recent years, organised players, particularly NBFCs, have begun to gain market share. Banks, too, have been making inroads, especially through retail gold loans and a continued focus on agricultural gold loans. This shift is expected to continue as organised players leverage their formal lending structures, transparency, and customer trust to capture a larger share of the market. Shaji Varghese, CEO, Muthoot FinCorp Limited, "Gold loan assets have been growing steadily and the potential to grow further is high since a major part of the country's gold loan market is still in the unorganized sector. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have been rising over the years. There is also a paradigm shift on how buying gold is perceived today. Traditionally gold was purchased for historical, cultural and societal reasons and while that continues, people have started buying gold as an investment and also as a convenient option to raise funds for financial requirements." India remains one of the world's largest consumers of gold, with total demand reaching 747 tonnes in 2023. However, this represented a 3% decrease compared to the previous year, primarily due to the surge in gold prices, which dampened demand for gold jewellery. The price of gold in India increased from Rs 55,375 to Rs 66,532 per 10 grams (22 carats) between November 2023 and May 2024, prompting a shift towards lightweight or lower-carat jewellery items. Globally, the demand for gold grew by 3 % in 2023, with China emerging as the largest market. The global market's expansion presents opportunities for Indian gold loan financiers to explore new avenues for growth beyond domestic borders. Gold's relationship with the US dollar is a key factor influencing gold prices in India. A weakening rupee often leads to an increase in gold prices, as gold is priced in USD internationally. This dynamic drives higher imports and increases the cost of gold in rupees, further fuelling demand as investors seek a safe haven against currency fluctuations. V.P. Nandakumar, Managing Director and Chief Executive Officer, Manappuram Finance Ltd, "Of late, the sharp increase in gold prices has imparted some stability to the gold loan book of most players and we do not expect gold prices to come down due to geo-political factors, the accumulation of gold by central banks as well as the lasting allure of the yellow metal." The securitisation of gold through various financial instruments offers new avenues for gold loan players to diversify their offerings. By using gold-based security as collateral, established players can introduce new loan products that leverage the intrinsic value of physical gold.

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Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

ANI

Sebi proposes relaxing norms for investment advisers and analysts, floats consultation paper

PTI

Influencers are swiping a new black card at restaurants, spas, and fitness studios

Amanda Perelli

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

ANI

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