eChallan - One Nation One Challan. Please onboard BBPS AsaP

 

Semi Inspiration 01) My LinkedIn Article dt. February 13, 2016 @ https://www.linkedin.com/pulse/inr1000-crores-market-innovations-traffic-violation-fines-nayakanti INR1,000 crores market – Innovations in Traffic Violation Fines collections in India

Semi Inspiration 02) This scrolling on: https://echallan.parivahan.gov.in/

Important Notice: We have come across a fake website https://echallanparivahan.in which is being used to misguide common citizen and fraudulently collect online payment for fake traffic violation cases. The site has a similar URL and look and feel as our own portal https://echallan.parivahan.gov.in. You are request to take further preventive action, wide circulation and if possible, filing of FIR.

 

So how do you pay a Traffic Fine Challan (eChallan).

The old-fashioned way i.e Cash

The new-fashioned way i.e Card/Net Banking

OR

Would you a completely new way i.e BBPS (Bharat Bill Payment Service)

Wait, eChallan is yet to onboard BBPS.

Integration of eChallan with BBPS will be a boon to pay the Traffic Fine violations.

This will reduce the tensions of fine payers and the respective State Traffic personnel.

Fetch n Pay is the best option. Each Traffic Fine Challan contains a Unique Identifier Number, which can be inputted in the input screen to retrieve the Challan.

Nothing else would be required. Individual States need not worry about any IT integration from their sides.

One major Benefit - No fear of payment of eChallan on fake portals.

Prior to eChallan rollout, different States have different mechanisms to collect the traffic fine challans.

The introduction of eChallan changed all that.

            20 States in India have onboarded eChallan to issue and collect traffic fines via eChallan Module. The tagline of eChallan is “One Nation One Challan”.

            The traffic rules violator has multiple payment options to pay the his/her traffic fine.            

            As per July 2019 updates, eChallan system has been implemented so far include Bihar, Chandigarh, Delhi, Gujarat, Haryana, Himachal Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, Jammu & Kashmir, Punjab and Puducherry.

If you have violated traffic rule knowingly or unknowingly, you can check the traffic challan online and make payment. Ministry of Road Transport and Highways (MoRTH), Government of India has initiated online solution for E-challan- Digital Traffic/Transport Enforcement.

Normally the e-challan notice is sent by SMS to mobile phone of the person. The notice in physical format may also be served at the registered address.

The challan status can be checked online to pay the amount. In case of non-compliance of the e-challan notice it may get forwarded to the court.

            Vahan ‐ The Integrated Solution for Vehicle Registration

VAHAN is a highly flexible and comprehensive system that takes care of all the burdensome activities of Vehicle Registration, leaving the Transport Department to deal with more important business issues.

The software enables the processes at RTO/DTO/MLO/SDM involving Vehicle Registration, Fitness, Taxes, Permits & Enforcement to get computerized.

The State Transport Department is governed by both Central Motor Vehicle Regulation (CMVR) and state specific Motor Vehicle Regulation (State MVR).

Consequently, Vahan was conceptualized as a product that would capture the functionalities as mandated by CMVR as well as state MVRs.

Generally, you need to pay the challan within 60 days from the date of issue of the notice. Any non-compliance of the e-challan notices may result in the challan getting forwarded to the court

Vehicles owners can visit the online portal and check if a challan has been issued in concern to their vehicle. They simply have to fill in their respective vehicle registration numbers and then pay the fine by filling the e-form supplied.

The system is integrated across the Regional Transport Offices (RTO) with the help of the Vahan and Sarthi databases

References:

A)     E-Challan - Digital Traffic/Transport Enforcement Solution. An Initiative of MoRTH, Government of India

B)     Goa: Cyber crooks run fraudulent e-challan website to collect fine for traffic violations

C)     E- Challan: Check Traffic Challan Status and Pay Fines Online

D)     Have you violated traffic rule? Here's how to check and pay your e-challan online

 

Bill Pay Wishlist Features – Who will offer me first?

 

            So how do pay your utility bills? The new-fashioned way i.e Digitally via BBPs or the Old-fashioned way i.e Cash or Cheques.

            Like taxes, one cannot escape bill payments.

            The majority of the banks offer 'Bill Pay Module', to their customers. Most of the Banks have tie-ups with Bill Aggregators to process the bill pay services. With the popularity of BBPS (Bharat Bill Payment Services) growing day by day, ‘Bill Pay’, providers can just add BBPS Module on their Net Banking/Mobile Banking.

            Banks and Bill Pay providers can customize the features to be offered to their customers. These features are the differentiators for customers to choose a particular Bill Pay Service Provider.

Bill Pay is a convenient online service that allows registered customers to pay for one’s electricity, telephone (landline and mobile), gas, mutual funds and insurance subscriptions or even taxes in India from the comfort of your home or office at any time of the day or night.

All the customer needs to do is Register a Biller under the Bill Pay Link and choose how he/she would like to pay for this bill.

Depending on the payment solutions offered by the Biller, customers can choose between:

·         One-time Bill Payment – As the name indicates, this is an option to pay a bill only once/

·         AutoPay – As the name indicates, this is where the bill details are saved, and on the presentment of the bill, the bill is paid by debit to the customer’s linked account. This account can be a credit card too.

·         Confirm and Pay – As the name indicates, under this mode on bill presentment, the bill appears on the account holders' net banking/mobile banking app. The account holder can view the bill and confirm /decline the payment.

The above options are almost offered by all the Bill Pay service providers be it a bank or other portals.

            Till date, Bill Pay modules do not offer any in-depth personalization to encourage account holders to migrate all their bill payments to their respective modules.

            New Age Apps i.e Paytm, Amazon Pay, Google Pay, PhonePe, Mobikwik, Freecharge etc  offer cashbacks on bill payments. As the offers keep changing, I am not adding any links to the Apps Pages here.

Please note BBPS enabled billers are the preferred channel. If a biller is on BBPS, the portal/app chooses the BBPS mode only, rather than bill aggregator mode.

            Customers prefer to search for the best possible offers, before paying their bills.  This decreases the stickiness quotient for Bill Pay modules.

            BBPS has revolutionized the Bill Payments infrastructure in India. As more and more billers onboard BBPS, its popularity will still increase.  

            What is my Wishlist from Bill Pay Module providers?

All utility bills have two mandatory dates i.e

Mandatory Date 01) --- Bill Generation Date

Mandatory Date 02) --- Bill Due Date

Normally, the gap between bill generation date and bill due date is 15 days.  Payment after Due Date attracts Late Payment charges

My Wishlist’s revolves around the gap between bill generation date and bill due date.

Eg

Sr No	Utility Provider	Bill Generation Date	Bill Due Date
01)	Electricity	05/07/2020	20/07/2020
02)	Water	10/07/2020	25/07/2020
03)	Landline	01/07/2020	15/07/2020
04)	Mobile Post-paid	12/07/2020	22/07/2020
05)	Credit Card	25/07/2020	10/08/2020
06)	Etc – Insurance Premium, Demat Account Bill

 

Wishlist 01) Virtual Utility Bill Accounts – Ability to create virtual utility bill accounts linked to my main bank account. Daily/Weekly  Auto transfer of my Last Bill Amount divided into Day/Week wise.  

Wishlist 02) Early payment bonus – Bill Date is 05/07/2020, Bill Due Date is 20/07/2020. If bill is paid on 07/07/2020 bonus for early payment.

Wishlist 03) Review and Pay – 3 Days before Bill Due date, the bill amount to be debited from my linked bank account / credit card and bill paid. This is a bit different from the ‘Auto Pay’, feature. Under ‘Auto Pay’, the bill is paid as soon as the bill is generated and presented for payment.  

Wishlist 04) Detailed Analysis of Bill – Electricity Bill. Comparison between last 3 months bill, usage pattern, etc. Yes, this is possible with IOT

Wishlist 05) Tips to reduce Bill Amount – Electricity Bill --- Minimise use of Geyser etc to reduce the bill amount.

A detailed explanation of each Wishlist will follow in upcoming posts

So, which Neo Bank/Existing Bank/FinTech App/BBPS App will offer the above Wishlist?

And, if you have any wishes please add them in the comment’s column.

 

 

Semi-Inspiration 1 for this Post:

 

Semi-Inspiration 2 for this Post: Upcoming Workshop on ‘Bill Pay as a Service’.

 

References: Citibank services page @ https://www.online.citibank.co.in/citi-nri/services-paybills.htm

 

           

Retail ARCs (Asset Reconstruction Companies) – Please onboard BBPS

          The typical products offered in the Indian retail banking segment are housing loans, consumption loans for purchase of durables, auto loans, credit cards and educational loans. The loans are marketed under attractive brand names to differentiate the products offered by different banks and NFBCs.

          Retail Loans too can turn bad and the primary lenders may prefer to sell these bad loans to ARCs specialised in the Retail loans recovery.

The primary objective of ARCs is to recover the bad loans outstanding’s from the borrowers. This means each Loan Account will have a unique identifier and the borrower has to be quote this unique identifier while paying the Loan outstanding amount.

Hence, it is apt that the ARCs onboard BBPS under ‘Loan Repayment’ Biller Category.

5 Advantages to ARCs on onboarding BBPs

Advantage 01) Pan-India collection network within no extra hassle

Advantage 02) The borrower is assured that the repayment amount is going to the correct institution / loan account

Advantage 03) Instant receipt to the borrower instead of provisional receipts and associated recon issue.

Advantage 04) The recovery agent need not collect cash/cheques and hand over to the linked office for further processing

Advantage 05) Contactless payment option 24*7, 365 days a year

 ARCs can opt for the Free Format amount Option instead of Fetch n Pay. The borrower only has to input the unique identifier and the borrower name is displayed. The borrower can remit the decided  amount only.  

What are ARCs?

 An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets from banks and financial institutions so that the latter can clean up their balance sheets. Or in other words, ARCs are in the business of buying bad loans from banks.

 ARCs clean up the balance sheets of banks when the latter sells these to the ARCs. Instead of going after companies, Banks can sell their BAD LOAN to Asset Reconstruction Companies.

These companies buy the bad loan at discount rates. This means an asset reconstruction company will pay the agreed amount to the bank.

Asset Reconstruction Companies (ARCs) have been created to bring about a system for recovering Non-Performing Assets (NPAs) from the books of secured lenders and unlocking the value of Non-Performing Assets (NPA).

Reserve Bank of India (RBI) provides license for ARCs and ARCs are empowered by the SARFAESI Act.

          ARCs handle both corporate loans as well as retail loans.

 

 

List of Asset Reconstruction Companies (ARCs) registered with RBI (As on February 29, 2020)

 

S No Name of the company

1       CFM Asset Reconstruction Private Limited

2       Rare Asset Reconstruction Limited (Erstwhile Rare Asset Reconstruction Private Limited)

3       ANA ARC Private Limited

4       Omkara Assets Reconstruction Private Limited

5       MAXIMUS ARC Limited

6       Pridhvi Asset Reconstruction and Securitisation Company Ltd.

7       Aditya Birla ARC Limited

8       Ambit Flowers Asset Reconstruction Private Limited

9       ARCION Revitalization Private Limited

10     ASREC (India) Limited

11     Asset Reconstruction Company (India) Limited 

12     Edelweiss Asset Reconstruction Company Limited

13     India Resurgence ARC Private Limited

14     India SME Asset Reconstruction Company Limited

15     Indiabulls Asset Reconstruction Private Limited

16     Invent Assets Securitisation & Reconstruction Pvt. Ltd.

17     JM Financial Asset Reconstruction Company Limited (Erstwhile JM Financial Asset Reconstruction Company Private Limited)

18     Lone Star India Asset Reconstruction Private Limited

19     Pegasus Assets Reconstruction Pvt. Ltd.

20     Phoenix ARC Private Limited

21     Reliance Asset Reconstruction Company Limited 

22     Suraksha Asset Reconstruction Private Limited

23     International Asset Reconstruction Company Pvt. Ltd. 

24     Alchemist Asset Reconstruction Company Limited  (Erstwhile Dhir & Dhir Asset Reconstruction & Securitization Company Limited)

25     Assets Care & Reconstruction Enterprise Ltd.  (Erstwhile Assets Care Enterprise Ltd.)    

26     Encore Assets Reconstruction Company Private Limited

27     Prudent ARC Limited

28     UV Asset Reconstruction Company Limited

References:  

RBI Circular - Fair Practices Code for Asset Reconstruction Companies @ https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11937&Mode=0

 

RBI Draft Report - Draft Comprehensive Framework for Sale of loan exposures dt. June8th, 2020

 

 

HSBC India joins BBPS Platform

 

HSBC India vide a News Release on July 13th, 2020 announced to the public at large that its customers now can pay real-time bill payments via BBPS (Bharat Bill Payment Systems).

This facility is available to its customers on Net Banking and Mobile Banking Applications.

This allows customers to add and pay their bills in real-time and set up a schedule of payments or recurring bill payments.

The BBPS Module is integrated into the upgraded Digital Secure Access platform, for an enhanced and secure digital banking experience for customers.

These services allow HSBC Bank's customers to register online in a simplified manner and save their device / browser for enhanced security, amongst others.

HSBC Personal banking customers can read the process flow here, before proceeding to register the biller of their choice.

This integration will enable HSBC customers to pay their bills  from their bank accounts, instead of relying on old fashioned way i.e Cash or Cheque.

So, if you are a HSBC customer what are you waiting for, log into your HSBC Bank account and do the first bill payment.

HSBC serves its customers in India through three global businesses:

1. Retail Banking and Wealth Management

2. Commercial Banking

3. Global Banking and Markets

The Bank offers a wide range of services and products to resident as well as non-resident Indian customers based in various countries across the globe through its Retail Banking and Wealth Management wing.

BBPS targets are HSBCs Retail Banking and Wealth Management customers, rather than Commercial Banking and Global Banking and Markets customers.

 Of course, if any employees of corporates serviced by Commercial Banking and Global Banking and Markets hold HSBC Retail Banking customers, they can experience the Joy of BBPS.

 

Image courtesy: HSBC

FAQs for AatmaNirbhar Bharat App Innovation Challenge

 

Q.No.01) Where should the Application be submitted?

Ans.01) The application should be submitted on https://innovate.mygov.in/app-challenge/#tab1

Q.No.02) Is it mandatory to have a mygov.in account?

Ans.02) Yes, it is mandatory to have a mygov.in account. Applicants can create a new account or also log with their Social Accounts i.e. Facebook, Google, Twitter, LinkedIn or Github.

Q.No.03) What is the last date for submission?

Ans.03) The last date for submission is 17.30 hrs, July 18^th 2020

Q.No.04) Is there any participation fees?

Ans.04) No, there is no participation fees.

Q.No.05) Can I participate as an Individual?

Ans.05) Yes one can participate as an Individual.

Q.No.06) Is a working prototype necessary?

Ans.06) A working prototype is preferred, though not mandatory in the initial phases.

Q.No.07) How to contact the organisers, if required?

Ans.07) Participants can touch base with the organising team via mail at: connect@mygov.nic.in

Please note Any correspondence with participant will be done through an email provided by the participant at time of filling the application form. Organizers are not liable in case of email delivery failures.

Q.No.08) What are the broad categories for which Applications can be submitted?

Ans.08) The AatmaNirbhar Bharat App Innovation Challenge invites applications for the following 8 broad categories:

 

1.      Office Productivity & Work from Home

2.      Social Networking

3.      E-Learning

4.      Entertainment

5.      Health & Wellness

6.      Business including Agritech and Fintech

7.      News

8.      Games

Q.No.09) Will there be sub-categories within the main categories?

Ans.09) Yes, there will be sub-categories within the main categories. Jury will take the decision to create sub categories. The number of sub-categories will depend on the number of applications received and the concepts around the applications.

Q.No.10) What are documents to be submitted along with the Application?

Ans.10) Personal Bio Data – PDF Document not exceeding 2 MB

Application Concept – 5000 characters.

If Application is ready for use:

·         Application Link

·         Application User Manual – PDF Doc within 4mb

·         Application available on _ Android, iOS, Windows, Web Browser

·         Additional supporting document if any - PDF within 2MB(Explaining how the solution is Robust, Scalable, Secure, Data Integrity Policy and UI UX features)

·         Number of downloads

·         Servers (Web/Data/Cloud) Location - Select India / Outside India

·         Number of Monthly Active Users

·         Privacy Policy - PDF within 2MB

·         Permissions sought in app

If Application is NOT Ready for use:

·         Development phase/doc - PDF within 2MB

·         Source code url (GitHub/Other)

·         Expected date of completion

Q.No.11) Can I edit the submitted Application?

Ans.11) No, once the application is submitted, editing is not permitted.

 

Q.No.12) Can Multiple entries be submitted?

Ans.12) Yes, multiple entries can be submitted.

Q.No.13) Will I receive a conformation SMS/Email on successful submission of the Application?

Ans.13) On successful submission of the application, you will receive a Pop-Up message. Participants will not receive any SMS/email

 

 

Semi-Inspiration for this Blog Post:

https://www.linkedin.com/feed/update/urn:li:activity:6685118400269713408/

 

Disclaimer: This is only an attempt to increase the number of submissions. I am solely responsible for any errors in the FAQs.