Sunday, June 25, 2017

India's Payments Banks - Will they Change India's Banking Sector?

Payments banks are predicted to change our country's poor banking system in coming days. As majority of payment bank licensee, approved by Reserve Bank of India are directly or indirectly related to Telecom industries, it can be assumed that India's telecom industry can be a partner in changing the banking landscape or banking system can be revamped by telecom majors-owned, stripped down version of conventional banks, which are in turn known as Payments Bank.

As per RBI norms, Payments banks have to focus on providing basic financial services, including social security and utility bill payments, remittance functions, and can mobilise deposits of up to Rs 1 lakh.

Payments banks differ from traditional banks, as they don't offer any credit card or loans. Also you can keep maximum of 1 lakh rupees in the payments bank account. Experts believe payments banks are not replacement of traditional banks but they can be the bridge between people without banking facilities and digital banking system, paving a way towards Digital India. Payments banks will be better than the e-wallet systems (Citrus Pay, Ezetap, Freecharge, Mobikwik, Citi MasterPass, Ola Money, Jio Money, HDFC PayZapp, ICICI Pockets, JusPay Safe, PayUMoney, LIME, MoneyonMobile, MomoeXpress, Mswipe, Oxigen, PayMate, State Bank Buddy, Vodafone M-Pesa, mRupee, ItzCash etc) which almost offers the same except interest, ATM cards and some other facilities like pure banking services like ATM usage, cheque book use etc. Interestingly e-wallet business got an escalation after demonetization (banning of old Rs 500 and 1000 rupees notes), though many think digital wallet business model is not viable.

Sunday, June 18, 2017

Migration to Blink-based Opera 15+ from Opera 12+ (Presto based) [Updated Regularly]

Story was first published on 18th March, 2014

I am a long time Opera desktop user (on Android I use Dolphin) and when the company moved on to Blink from its own Presto I did not move on as Opera desktop version was a downgrade of features.

However next update to Opera Presto is yet to come, and company's dev team is not caring about Presto-powered version anymore. So I am starting the migration to Opera Blink today.

This is a long process, and I will update here, as soon as I made some movement.

Jump into the water

Installed Opera 18.0.1284.63, installation was straight forward and there is no issues. When you first use it, you have to learn few new things:

Open a new tab, you will find 3 options - Speed Dial, Stash and Discover. We know about Speed Dial.

Stash means where you can dump pages to read on later. [on Opera 12 I use Tab Vault, another extension]

Discover is a Flipboard-like stuff which can show you news on different categories and that's too country-specific. This feature was debuted on Opera for Android and now it is available on desktop too. I don't find it's much useful. (Update: It's now Personal News, or feed reader inbuilt)