50p 2017

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Payments and Investments: The Banks Hate It But Other People Give Better Returns

Submitted by Deepak Shenoy (@deepakshenoy) on Tuesday, 17 January 2017

Section: Crisp talk Technical level: Intermediate

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Abstract

When you want to pay for an investment of any sort - from a fixed deposit to a PPF to a mutual fund - the idea is: Give them a cheque. But there’s a lot more brewing in there - you can now buy products online, use NEFT/RTGS or even use UPI. Paying to invest means a substantially lower fee (no mutual fund will pay 2% to take your money to invest) and a transaction that can both identify you (are you who you say you are?) and process the payment fast. A quick review of that ecosystem.

Secondly, you can now use your investments to pay. Bitcoin is an example, but now you can use mutual funds with an ATM card and so on. Developments in this space threaten banks as payment monopolies, we explore how.

Outline

  • How do you pay for investments?
  • The old bias for cheques: because they are free.
  • Other ways to invest: Online, ECS/NACH, Electronic Transfers and UPI
  • Why credit cards are a no-no for investing in India
  • Investing to pay: Get a better return than a savings account, while making payments with a card
  • Where This Will Go.

Speaker bio

Deepak Shenoy co-founded Capitalmind, where he analyzes markets and macroeconomics for customers in India. He lives in Bangalore, and enjoys his weekends with his kids.

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