As per industry estimate, India has over 676 million smartphone users, over 1.2 billion telecom subscribers (wireless + wireline) and 825 million internet subscribers of which approximately 39% belong to the rural areas (as on March 2021).
Further, total number of transactions related to digital payments, a key enabler for expansion of digital markets, has increased from 2,071 crore in FY 2017-18 to 5,554 crore in FY 2020-21. As on date, more than 5179 crore transactions have been reported in the current financial year.
Furthermore, India now hosts the 3rd largest ecosystem for startups globally; 59,593 startups have been recognized by DPIIT across 57 unique industries, of which 1,860 startups belong to the FinTech sector. As of December 2021, India has over 17 Fintech companies, which have gained ‘Unicorn Status’ with a valuation of over USD 1 billion.
As regards to investment inflow in the Fintech sector, no such data is maintained centrally.
Government has taken several measures to increase investment inflows in Fintech sector.The Pradhan Mantri Jan Dhan Yojana (PMJDY) has been targeted at increasing financial inclusion in India by helping in new bank account enrollment of beneficiaries for direct benefits transfer and accessibility to a host of financial services applications. This has enabled Fintech startups to build technology products to penetrate the large consumer base in India.
Aadhar, the unique biometric identification system, allows the public to access government digital services thereby improving the availability and transparency for social payments including financial assistance to those in need.
Unified Payments Interface is single platform that merges various banking services and features under one umbrella and has been built as a scalable payments platform supporting digital payments in India.
Jan DhanYojana, Aadhar and Mobile (JAM trinity) alongwith Unified Payments Interface have been instrumental in bringing in transparency, integrity and timely delivery of financial benefits and services to the public.
Key initiatives undertaken by the Government for the Fintech ecosystem in India are listed below:
Jan Dhan Yojana: has been targeted at increasing financial inclusion in India by helping in new bank account enrollment of beneficiaries for direct benefits transfer and accessibility to a host of financial services applications. This has enabled Fintech startups to build technology products to penetrate the large consumer base in India
India Stack: is a societal initiative aimed at building public digital infrastructure to promote public and private digital initiatives including accelerated adoption of technology in finance
Aadhar: the unique biometric identification system, has allowed Aadhar Enabled Payment System and Aadhar Payment Bridge System:
Aadhar Enabled Payment System allows individuals to conduct financial transactions on a Micro-ATM by furnishing their Aadhaar number and verifying it with the help of their fingerprint/iris scan
Aadhar Payment Bridge System allows ease in bulk and recurring Government benefits and subsidy payments, facilitating operations from Aadhaar-linked bank accounts, using the biometric authentication
Development and roll-out of authentication solutions including Digital KYC, video-based customer identification process, and digital signature on documents has created various safeguards and a hassle-free system for Fintech startups and customers to leverage the technology-enabled solutions in the sector
A central repository, Central KYC, has been developed for reducing the hassle of undergoing multiple KYCs for different financial institutions. This allows the KYC process of consumers to be conducted only once unless there are any changes in consumer details
KYC and customer on boarding costs have been reduced significantly enabling expansion of financial services to rural India and opening their accounts
Unified Payments Interface has been built as a scalable payments platform supporting digital payments in India
License for Payments Banks has further helped in enhancing the financial inclusion drive in the country by allowing the setting-up of payments banks and expanding the access to payments/remittance services. In a bid to promote digital payments banks in the country, RBI has announced an increase to the maximum end of day balance for payment banks to Rs. 2 lakh
National Automated Clearing House System has been successfully used for making bulk transactions
Bharat Bill Payment System has helped in enhancing consumer convenience to pay bills across utilities and other segments and has been expanded to include all categories of billers who raise recurring bills (except prepaid recharges) as eligible participants, voluntarily
RBI has also developed a Payments Infrastructure Development Fund (PIDF) scheme to subsidise deployment of payment acceptance infrastructure in tier-3 to tier-6 centres
The RBI has created a regulatory framework around Peer-to-Peer (P2P) lending by recognising P2P lenders as Non-Banking Financial Companies (NBFCs), thus providing alternative credit access to the unbanked
IRDAI has undertaken various initiatives towards boosting the insurance penetration, such as permitting insurers to conduct video-based KYC, launching standardized insurance products and allowing insurers to offer rewards for low-risk behaviour
Government institutions such as the Health ministry and the NITI Aayog are also supporting the transformation in the insurance industry through the National Digital Health Mission (NDHM), the Digital Information Security in Healthcare Act (DISHA) and the National Health Stack
Amongst the wide variety of buy shipping containers out there, your freight forwarder recommended a High Cube container. And as if the already existing varieties weren’t enough to make you pull your hair out, this new addition got you perplexed. Well, we know what you’re thinking. Thus, we are here to give you a quick, but in-depth rundown on all about high cube containers.
It is a distant relative of the family of universal 20 ft and 40 ft standard shipping containers but just a taller one. The only reason the conventional maritime containers are tweaked from the standard measurements is to accommodate freight and cargo of abrupt shapes and sizes and taller height.
Did you know that the high cubes are the most popular choices these days because of their ability to offer extra space? But how would you know if an HQ container is a right fit for you or not? If you have already got a professional opinion on this, well and good. In case you are looking for someone to guide you through this problem. Well, there’s no need to be all jittery about this. We, at BOXXPORT, are here to help.
A Brief Overview: The High Cube
High cube containers are referred to as those standard-sized containers with a height of 9’6”. They resemble standard containers when viewed from the top and bottom. But since they are a tad bit higher, when viewed from front and back, they look like a cube instead of a cuboid-shaped standard metal shipping container. Thus, the name got its origin. The high cube containers can be popularly referred to as High cube, Hi-Cube, HC, or HQ.
A large chunk of these freight containers is built from durable substances such as steel or aluminum. They are utilized to ship nearly all varieties of goods just like standard cargo containers. But, the main function is to carry heavy and large cargo, generally those taller than 2.7 m or so.
Numerous lashing rings are installed on the front top end rail, bottom cross member, and also on corner posts of high cube containers. These rings can bear a maximum weight of 1000 kg. Some HQ containers may even possess recesses on the floor. These recesses serve two objectives-they help to focus the containers on a chassis and also allow these containers to lie lower. Thus, giving them a taller structure.
Dimensions of 20 & 40 HQ Containers
Containers are manufactured in compliance with the standard dimensions decided by the ISO. This makes them convenient to be stacked efficiently. High cube containers are alike to the 40ft standard containers in length and breadth but have the height difference of 1 foot offers the consumers an additional ~344 cubic feet apace for shipment of goods. Well, the extra height also implies that these HQ containers are heavier than the conventional ones. Also, their extra height is not preferred for inland transportation especially when undergoing through tunnels, bridges, etc.
Some types of window treatments best suitable for studio apartments include:
Blinds and shades.
Shutters and panels.
Drapes and valences.
Window treatments can take up the most space in a studio apartment, but if it is just to provide some extra privacy or aesthetic purposes that might not be too much of an issue. If you want something more temporary than curtains in Sydney, blinds are perfect because they come with countless different options for materials, colours, patterns etc. Honeycomb Blinds in Sydney for example, offer great insulation properties and are a very popular type. Shades also work very well in small spaces as they do not cover up all the natural light coming into your room, which is important when decorating a small place like this.
Shutters add another layer of character to any space giving you even more privacy as well as a beautiful design element to your home. Speaking of making the most out of, we also recommend having some fun with pops of colour here and there in order to keep it from looking too drab or dull. If you are not one who likes bright colours throughout their entire house, this idea might be best saved for choosing just a few accent pieces like pillows, lamps, etc.
There are many options of window treatments out there, and you will surely be able to find something stylish yet functional for your studio apartment. Roller blinds in Sydney are also very popular because they are quite economical and versatile. However, the best way forward is to get the advice of a professional company or supplier of blinds and shutters, since they will be able to help you not only make the right choice, but also help install them for a perfect finish.
Creating a marketing plan for your business is crucial. Without one, it would be difficult for a business to generate revenue and successfully make a profit. It’s essential you devise a plan that will clearly define the value of your products or services, with the end result benefiting your customers.
Gathering What Counts
There are four major areas that you must have information about before creating a marketing plan: business resume`, target market, product message, and ‘how-to’ get the message to prospective customers (advertising).
Business Resume: Clarity is the objective of a business resume`. Within the text, list the strengths of your product or service. Think of it as molding your knowledge. After all, would you write a marketing plan about something you know nothing about?
Target Market: Five simple questions will assist you in identifying your target market. Who are they? What is their age? What is the average income? What is their status? Do they have children? It’s important that you evaluate your target market to determine ‘what’ product or service would sell the best.
Product Message: A product message is a ‘direct call to action.’ This message must create value in the minds of everyone, that hears it, and for every feature, you offer a direct benefit to the customer must be demonstrated.
Advertising: Advertising is an appealing and compelling invitation to buy your product or service. It is an investment that should never be an expense. Finding the right advertisement takes trial and error, what marketers` refer to as “test” advertising. First time out of the box and you can’t expect immediate results.
Every business needs an outline of how they plan to approach the market. Make certain that you address the following questions in the process.
1. What medium is the most popular among your target market? (TV or Radio)
2. What is the percentage of participants in watching or listening to these mediums?
3. Do they read the local paper or magazine?
4. Should you consider direct mail?
Think of writing a marketing plan as breaking down the important elements and charting a path to success. These strategies will be of great assistance when faced with possibility of failure. Business owners need to step into the world of marketing with confidence and knowing where to begin writing your marketing plan is a start.