A Master Course on Indian Fintech Ecosystem

Discover how the Indian fintech ecosystem uses technology to automate financial services, drive embedded finance, and disrupt traditional banks through regulators, digital ecosystems, and customer demand.

Analyze how RBI’s regulatory sandbox and innovation hub catalyze India’s fintech growth, enabling retail and cross-border payments, MSME lending, and digital fraud prevention, with startups and investors.

Explore how India Stack uses a public-private API framework to enable financial and social inclusion, anchored by Jam Trinity and four layers: consent, paperless, cashless, and presents list.

Explore the four India Stack layers—consent, cashless, paperless, and presence less—and how they enable digital payments, KYC, and digital infrastructure like UPI, Digilocker, and Aadhaar authentication.

India Stack enables Rajni, a street vendor persona, to access intraday loans by securely sharing data through a consented credit marketplace, with paperless contracts and digital payments.

Explore how India Stack helps Rajni secure a loan through Aadhaar-based KYC, Digilocker documents, and consent architecture, with an account aggregator and UPI-backed repayments.

Explore how Aadhaar's biometric-based, UIDAI-regulated system with the Central Identities Data Repository and Cydia enables consent-driven e-KYC, quick digital onboarding, and secure government and financial services.

Explore how Aadhaar authentication and e-KYC differ, showing how authentication returns a yes or no with secured data, while e-KYC shares selected details to prefill forms and verify legitimacy.

Learn the roles of Aadhaar institutions—authentication service agency (ASA), authentication user agency (AUA), sub-KUA, and KYC service agency (KSA)—and how they enable secure, consent-based authentication and e-kyc.

Understand Aadhaar biometric match logic, including one-to-one and one-to-many matches, and the secure, consent-driven KYC and authentication flows driven by UIDAI, KSA, and ESA within the Indian fintech ecosystem.

Trace how the Aadhaar authentication flow moves from the user’s biometric device through authentication user agencies to RSA and the CI server, enabling KYC and consent with service-provider interactions.

Explains how PCI DSS secures cardholder data through six goals and twelve requirements. Outline includes secure networks, data protection, vulnerability management, access controls, monitoring, testing, and information security policy.

Explore MDR, the merchant discount rate for digital transactions, and how MCCs classify merchants to influence MDR and rewards across acquirers, issuers, and Visa, MasterCard, Rupay.

Identify POS transaction types, including sale, void, refund, pre authorization, and cash at pos. Trace the merchant onboarding from discovery and KYC to terminal mapping and live deployment.

Learn how card schemes enable payments through open and closed models, and how issuer, acquirer, merchant, and network roles drive card present and card not present transactions.

Differentiate chargebacks from refunds and show how customers initiate disputes via their issuer bank while merchants process refunds, noting friendly fraud and card-not-present risk.

Distinguish card present from card not present transactions and on-us and off-us flows. Learn how issuing and acquiring banks, card schemes, and gateways shape settlement, pricing, and chargeback risk.

Explain the three factors of authentication (something you know, something you have, and someone who you are) and show how two-factor authentication improves security in digital payments.

Understand how merchant settlement flows from authorization to payout, detailing how the acquirer bank, card scheme, and issuer settle net amounts after interchange fees.

Explore how unified payments interface (UPI) powers interoperable, bank-to-bank digital payments in India. Enable two-factor authentication, UPI ID and QR code transfers, pull and push payments, autopay.

Nach in India, a NPCI product, unifies direct debit and direct credit on a single interbank platform, enabling Aadhaar-based transfers and online mandates with a dispute management system.

Explore the features of the NACH system, the ISO 20022–based gold standard for financial messaging, including mandate management, ACK/NACK processing, and secure, scalable file transfers.

Explore how NFC standardizes and digitizes mandates, creates an audit trail, enables direct corporate access, and reduces costs, while speeding same-day processing with ISO 20,022 messaging and a file gateway.

Learn how a mandate management system uses a membership model. It enables creation, amendment, and cancellation of mandates with a unique reference, and consent via internet banking, upi, or pos.

Explore ISO 20022 messaging codes for direct debit, a gold standard for financial transactions, including mandate creation, amendment, and cancellation. See pane 009–012 and codes 052–054 enable cross-institution messaging.

Explore the five key participants in India's NACH ecosystem—the originator (corporate), sponsor bank, destination bank, PCI, and NPCI—and how they interact to execute mandates.

Explain how a NACH mandate flows from customer to corporate through sponsor banks and NPCI, including consent creation, verification, and settlement for debit and credit transactions.

Explore NACH transaction status files in the Indian fintech ecosystem, covering accepted, rejected, and partial processing, with async and negative acknowledgement flows, reject codes, and documented reasons.

Explore the NACH file flow, including input, inward, return, and response files, the four-eyes maker-checker process, and digital signatures for host-to-host and manual uploads.

Initiate a NACH debit by submitting a debit instruction file through the sponsor bank, validated by NPCI, with a mandate reference. Destination banks return status and approval codes for settlement.

Explain how NACH credit transactions flow from sponsor bank to destination bank, debiting the sponsor settlement, crediting customer accounts, using the Umar number, with rejections returned to sponsor.

Understand how nach settlement works across settlement accounts with the rbi, 156/306 character file formats for nfc transfers, and the sponsor bank with a sub-membership model for real-time transfers.

Learn how the Aadhaar payment bridge system links Aadhaar numbers to bank accounts through NPCI mappings to enable direct benefit transfers, with bank liability for errors.

Explore how the Aadhaar payment system routes subsidies to the latest seeded bank account, handles mismatches, and shows how customers can select banks for payments versus defaults for social transfers.

Explore india's national electronic toll collection using Fastag, an interoperable RFID-based system by NPCI that deducts tolls from prepaid wallets as vehicles pass toll plazas across states.

Explain the NETC flow in India, detailing how FASTag RFID data moves from toll plazas through acquirers and NPCI mapper to issuer banks, with validation, debit, and settlement.

Examine the governance of electronic toll collection, built on four pillars: automated vehicle identification, automated vehicle classification, transaction processing, and violation enforcement, enabled by RFID and number plate recognition.

Identify the issuer as the bank or wallet that links the payment instrument to the RFID tag in electronic toll collection, checks the tag against blacklist, and debits the balance.

Identify the acquirer's role in electronic toll collection, including sponsor bank and payments switch, and describe settlement to toll plazas and how banks affect service disruption and fees.