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Author: Abhishek R. Sharma

The New UPI Rule (expected soon) and What You Can Do?

Posted on by Abhishek R. Sharma

Digital Safety: The New UPI Rule (expected soon) and What You Can Do?

– I would like to share some good news about an upcoming UPI rule that promises to reinforce Bharat’s (India) digital transactions’ security.
– As we witness the tremendous growth in digital transactions, touching the trillion mark, there has unfortunately been a parallel surge in digital fraud, especially within UPI transactions. (Source: Media reports)

The good news is that change is on the horizon!

🛡️ The new UPI rule (which is yet to be notified or expected soon by the regulatory authorities) empowers us to cancel or reverse the first transaction with a new payee within 4 hours.

🛡️This significant step will play a pivotal role in curbing fraudulent activities and protecting genuine customers from deceitful transactions.

💳 Your safety in the digital space is a top priority, and this rule is a giant leap towards achieving that.

I encourage you to spread the word and help create awareness about this crucial development. Together, we can make a difference! 🌐

🛡️How can you support?

Like: If you appreciate this step towards enhanced security.
Share: Let’s ensure everyone in our network is informed and protected.
Subscribe: Stay updated on more such important developments.
Here’s a short video explaining the new UPI rule and its benefits: [https://lnkd.in/gy9bkygm]

🛡️Your support means the world to me! Let’s make our digital world safer, one share at a time. 💙

DigitalSecurity UPI FraudPrevention CyberSafety StayInformed
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I’m Abhishek. 😊
Posts 3-4 times a week on Financial Services, Mindfulness or Research/Sports.
Purpose to help Upskill ✍ & Enable You, Us to the fullest.
Stay connected 🤝 . Like, Repost & Collaborate.
UpskillwithAbhishek

What is Account Aggregator Network? RBI Framework to Access & Share Financial Information

Posted on by Abhishek R. Sharma

What should be your product strategy II Hear it from Product expert II Reshu Bansal II IIM Bangalore

Posted on by Abhishek R. Sharma

Unleashing Success: A Conversation with Reshu Bansal on Crafting Winning Product Strategies for Growth 🚀 | Upskill with Abhishek

I’m thrilled to share my recent conversation with Reshu Bansal, a phenomenal leader in product and strategy. In our discussion, Reshu, an IIM Bengaluru alumni and a dedicated meditator, shared incredible insights on crafting winning product strategies for scaling growth.

🌐 Key Highlights:

Insights from a seasoned product strategist
IIM Bengaluru excellence in action
The intersection of meditation and success

🎥 YouTube Interview: Upskill with Abhishek – https://youtu.be/zdijmAnWYGg

🎙️ Podcast on Spotify: Upskill with Abhishek Podcast – https://podcasters.spotify.com/pod/show/upskill-with-abhishek/episodes/Unleashing-Success-A-Conversation-with-Reshu-Bansal-on-Crafting-Winning-Product-Strategies-for-Growth-e2cdt27

🎥 Watch now to elevate your understanding of strategic growth!

🔗 Subscribe, Like, and Share if you can upscale your skills!

Discover the secrets behind Reshu’s success in creating impactful strategies. Don’t forget to like, share, and subscribe if you find the conversation valuable!

Your support means the world to me. Let’s learn, grow, and upscale together! 🚀

#UpskillWithAbhishek #ProductStrategy #LeadershipInsights #SubscribeNow #SuccessStories

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I’m Abhishek. 😊
Posts 3-4 times a week on Financial Services, Mindfulness or Research/Sports.
Purpose to help #Upskill ✍ & #Enable #You, #Us to the fullest.
Stay connected 🤝 . Like, Repost & Collaborate.
#UpskillwithAbhishek

Supreme Court: Money laundering threatens nation’s financial system

Posted on by Abhishek R. Sharma

Earlier this week, the Supreme Court of India (Bharat) denied bail to a person involved in a money laundering case. Economic offenses, such as money laundering, can harm the country’s financial health. Complex plans and large amounts of public money are involved in these crimes.

According to the court, technology and artificial intelligence make it difficult for investigators to understand these crimes. The court said that investigators should be careful not to falsely accuse innocent people.

Even though the person seeking bail argued the investigation was complete, the court disagreed, saying there was enough evidence of his involvement. The court stated that economic offenses require a special approach when considering bail.

Listed below are 10 key takeaways about money laundering as a threat to a nation’s financial system:

💡 Prevention of Money Laundering Act (PMLA): This law holds people accountable for hiding, owning, getting, or using money from criminal activities.

💡 Serious Offenses: Economic offenses like money laundering are serious crimes.

💡 Threat to Economy: These crimes pose a threat to the country’s financial health.

💡 Complex Investigations: Advanced technology makes it challenging to understand these crimes.

💡 AI Challenge: Money laundering is even more challenging with the advancement of technology and Artificial Intelligence.

💡 Enforcement Directorate: Investigates economic offenses in India (Bharat) need to keep upskilling when it comes to new typologies of money laundering

💡 Careful Investigations: Investigators must be careful to avoid wrongly accusing innocent people.

💡 Avoiding Escapes: Guilty individuals don’t escape punishment.

💡 No Bail: Bail for the one involved in a money laundering case to be treated differently

💡 Different Rules: Economic offenses need a special approach when considering bail.

#aml #amlcompliance #amlcft #amltraining #complianceofficer

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I’m Abhishek. 😊

Posts 3-4 times a week on Financial Services, Mindfulness or Research/Sports.

Purpose to help #Upskill ✍ & #Enable #You, #Us to the fullest.

Stay connected 🤝 . Like, Repost & Collaborate.

#UpskillwithAbhishek

UPI ID will be deactivated II UPI Scam II UPI Fraud II Mobile SIM II नए UPI फ्रॉड से सावधान रहें II

Posted on by Abhishek R. Sharma

What’s Inside the Mind of a Terrorist. 🌐🤯

Posted on by Abhishek R. Sharma

Dear Upskillers! 👋✨

#HappySunday…

I recently had an incredible conversation with the brilliant Vipul, an expert in Financial Crime, with a focus on Anti-Money Laundering, Anti-fraud, and Cybercrime. 🕵️‍♂️💼 We delved deep into topics like FATF, India Plenary, the dynamic between India and Pakistan, and even ventured “Inside the Mind of a Terrorist.” 🌐🤯

This insightful dialogue also covered invaluable advice for AML professionals, the nuances of KYC MASTER DIRECTION, and the intricacies of PMLA. 💼💡

🎥 Watch the conversation unfold here.

If you’re keen on staying ahead in the world of financial crime prevention, this discussion is a must-watch! 🚀

👍 Don’t forget to hit the like button if you find it informative, share with your network, and subscribe for more deep dives into critical topics! 📈

Let’s build a community that thrives on knowledge and collaboration. Together, let’s #UpskillWithAbhishek! 💪🧠

See you in the comments section! 🗣️👇
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I’m Abhishek. 😊
Posts 3-4 times a week on Financial Services, Mindfulness or Research/Sports.
Purpose to help #Upskill ✍ & #Enable #You, #Us to the fullest.
Stay connected 🤝 . Like, Repost & Collaborate.
#UpskillwithAbhishek

🏏 “Roar with Pride, Team Bharat (India)! 🚀

Posted on by Abhishek R. Sharma

A billion dreams come true as the sun sets over the magnificent Narendra Modi Stadium in Ahmedabad, as the ICC Cricket World Cup finals 2023 begin between Bharat (India) and Australia (Astra-aalaya).

Your journey through challenges, triumphs, and moments exemplifies true sportsmanship, Team India. The world is watching, but more importantly, a nation believes in you all. You stand at the pinnacle of the cricketing world, ready to make your name in history. #TheBillionDreams.

My 6 points as India is set to play Australia, Today on Nov 19, 2023 – The ICC Cricket World Cup Finale.

💎 The warrior within each of you is driven by determination, skill, and a never-ending love of the game. Keep in mind the countless hours of practice, the sacrifices you have made, and the dreams you have aspired for. Let the warrior within you guide you to victory.

💎 Unity in Diversity, Strength in Togetherness – Team India, you represent the diverse tapestry of our nation—a symbol of unity in diversity. Let the spirit of togetherness be your strength in the cauldron of the Narendra Modi Stadium. Together, you are an unstoppable force.

💎 The Power of Belief – Believe in your skills, the team, and the dream that has brought you to this grand stage. The power of belief transcends boundaries and propels ordinary moments into extraordinary feats. As you step onto the field, carry with you the unwavering belief that victory is not a destination but a journey you are destined to complete.

💎 The Nation Stands as #One – From the bustling streets of Mumbai to the serene landscapes of Kashmir, from the vibrant colors of Rajasthan to the tranquil backwaters of Kerala—every corner of Bharat stands as one with Team India. You are not just players but ambassadors of our collective hopes and aspirations. #TheBillionDreams.

💎 Play with Passion, Play for Glory – Let the echo of every cheer fuel your spirit, and let the passion within each player ignite the flame of glory. This is your moment, Team India. Bring back the World Cup. Play as #Champions.

💎 Throughout your journey on the field, keep in mind that greatness is not just about winning, but also about the journey, the resilience, and the indomitable spirit that defines true champions. Make the most of the moment, play with your hearts, and strive for greatness.

📣 Team Bharat (India), the stage is yours, #TheBillionDreams, the nation is with you, and write the history again. Go out there, play with fire in your belly, and bring home the glory that is rightfully yours.

Jai Hind!
#teamindia #CricketWorldCup2023 #BharatRises #TheBillionDreams

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I’m Abhishek. 😊
Posts 3-4 times a week on Financial Services, Mindfulness or Research/Sports.
Purpose to help #Upskill ✍ & #Enable #You, #Us to the fullest.
Stay connected 🤝 . Like, Repost & Collaborate.
#UpskillwithAbhishek

Digital lending requires more consideration…

Posted on by Abhishek R. Sharma

When you lend money digitally, more things need to be taken care of…

– The RBI’s clear stipulations on digital lending, communicated after a series of engagements last year, have been instrumental in shaping the future of lending
– The objective was to ensure Fair Practices are followed in digital lending
– Keeping in mind the #fakemobileapplications #fakeloanapps racket
– Keeping in mind the #KYC, #onboarding process incl. #creditrisk, these stipulations were the cornerstone in the regulated lending space
– Very specifics were called out such as sharing Key Facts Statements with the Borrower (KFS)

Yesterday, a renowned retail lender in Bharat (India) was asked to stop sanction and disbursal of loans under its two lending products, with immediate effect.

Why so?

– due to the non-adherence of the company to the extant provisions of Digital lending guidelines of the Reserve Bank of India,
– particularly non-issuance of Key Fact Statements to the borrowers
(Source, RBI)

The Compliances…
– Do we take compliance seriously?
– Compliance professionals are your assets and enablers
– There is the cost of non-compliance. Do you get this?
– Is your compliance independent? Do they have the ability to say “No”?
– Or “Chalta hai” (Oh! it happens) attitude still holds the ground.
– Let compliance do its job.

The RBI is amongst the best financial services Central Banks in the world which enables and fosters innovation not at the cost of non-compliance.

Having worked in this #regulatoryaffairs and #regulatorycompliance domain since 2005, I can sense the #purpose for #beingcompliant.

What’s your take?

#chiefcomplianceofficer #chieffinancialofficer #chiefoperatingofficer #chiefinformationofficer #complianceofficer #compliancemanagement #compliance #complianceregulations #rbi #rbipolicy
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I’m Abhishek. 😊
Posts 3-4 times a week on Financial Services, Mindfulness or Research.
Purpose to help #Upskill ✍ & #Enable #You, #Us to the fullest.
Stay connected 🤝 . Like, Repost & Collaborate.
*Views are personal based on work experience. Thanks
#UpskillwithAbhishek

Rediscovering Bharat: Unveiling Vedic Wisdom for the Modern World | Interview with Kalyan | Upskill with Abhishek!

Posted on by Abhishek R. Sharma

Hey friends!

🚀 Just had an incredible chat with Kalyan, the visionary behind Rediscovering Bharat, on Upskill with Abhishek. 🎙️

We delved into Bharat’s rich culture, Vedic wisdom, and yogic teachings for the modern world.

🤩 Check out the interview [https://youtu.be/ETuiwhbIL5I] to discover the beauty of Bharat’s heritage and Kalyan’s inspiring vision.

🕊️ Let’s spread the wisdom!

👍 Like, share, and comment to support this cultural exploration.

🙏 Let’s create a ripple of awareness together!

🌐 #RediscoveringBharat #UpskillWithAbhishek #BharatCulture

🙌 Thanks a bunch!
#Gratetul
🌈 #UpskillWithAbhishek

NBFCs versus banks, credit-to-GDP ratio?

Posted on by Abhishek R. Sharma
  • From 2012 to 2017, non-banking financial companies (NBFCs) grew rapidly, and their share of credit (Credit to GDP ratio) increased from 8.6% to 11.5% by 2018.
  • During the same period, traditional banks saw a decrease in their share of credit from 59.1% to 51.2%.
  • The growth of NBFCs in providing credit surpassed that of banks, with the gap between them widening until 2018

#UpskillwithAbhishek