Indian women motorcyclists on full throttle

Hello,

It seems like Paytm is finally catching a break.

One97 Communications, parent company of the fintech giant, saw its shares ending the day  ~8% higher after the management highlighted the “large” growth opportunities for its payments business in India. 

At its analyst meeting yesterday, the company said it was focused on increasing efficiencies, hitting EBITDA breakeven by September 2023, and growing its lending business via Paytm Postpaid and credit cards. As a result, some brokerages are now rating the company’s stock as “buy”.

Meanwhile, the National Payments Corporation of India (NPCI) has extended its deadline on imposing a market cap of 30% on the volume of UPI transactions by third-party providers by another two years. 

Lastly, here’s some good news to start your weekend with… The four-day work week works! 

And there’s data to back it up.

In today’s newsletter, we will talk about 

• Indian women motorcyclists on full throttle 
• More digital lending rules from RBI?
• Say hello to a new virtual model 

Here’s your trivia for today: Which village in the Netherlands has no roads?

Travel

Indian women motorcyclists on full throttle 

Ten years ago, the biking scene for women solo motorcyclists was non-existent. Today, Indian women are increasingly embracing the moto culture. YS Life spoke to a few pioneers in this field. 

The long road:

• Sameera Dahiya has covered 16,300 kilometres, with 28 states and its capitals, six Union Territories, and 100-plus major cities, in just 24 days and 9 hours.
• Candida Louis has completed a solo bike journey from Bengaluru to Sydney and, recently, did a four-month ride across Europe.
• Organisations dedicated to women bikers include Bikernis, Lady Riders of India, Hop On Gurls, and WIMA (Women’s India Motorcycle Association). 

Social Media

Say hello to a new virtual model 

TopSocial India, the agency behind the launch of India's first virtual influencer model Kyra, has rolled out a new model Sravya to focus on the South Indian market. 

Hello, world:

• Sravya will have a polyglot persona and be able to converse with her audiences in several languages, including Telugu, Tamil, Malayalam, and Kannada. 
• She will play the role of Kyra's manager and is set to have her own Instagram page. TopSocial released Kyra earlier this year. 
• Himanshu Goel, Business Head of TopSocial India, says the company plans to release five more virtual influencer models. 

Fintech

More digital lending rules from RBI?

The Reserve Bank of India’s (RBI) guidelines around digital lending, which kicked in earlier this week, have upended the fintech sector, forcing those dealing with credit to re-evaluate, or even materially alter their operations, to be in compliance with the law of the land.

The central bank isn’t done yet as, according to a YourStory source, more regulations are in the pipeline.

Reading the fine print:

• RBI could announce new rules on the underwriting front, mainly to regulate the way some Buy Now, Pay Later (BNPL) startups currently issue loans.
• Sources say that the follow-up notification could also provide clarity on the specific language RBI wants startups to use in their communication with users, so users know what they’re signing up for and how their data will be used.
• Following the rules that came into effect on December 1, companies like Uni Cards, Slice, and PostPe—all of which were extending loans via—had to abandon their 1/3rd pay-later business models and pivot to an essentially credit card-like format.

News & updates

• Off course: The Chinese Grand Prix will not take place in 2023 given the “ongoing difficulties stemming from Covid-19 situation”. Formula 1 is assessing alternative options to replace the slot on the calendar and will provide an update in due course.
• Hefty buildup: The world's poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said on Thursday, warning that the growing burden is increasing the risk of defaults.
• On payroll: The US economy added more jobs than expected in November in a sign that demand for new workers remains strong despite the Federal Reserve’s efforts to cool the economy. Non-farm payrolls rose by 263,000 last month, compared with an expected 200,000.

Which village in the Netherlands has no roads?

Answer: Giethoorn, which is made up of underground paths and canals.

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