[BES171] E-Payment Challenges & Reforms: MDR, PoS, KYC, Interoperability; Suggestions by Ratan Watal, Chandrababu Naidu, Yojana 2017 with Mains Answer writing Practice

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India Yearbook
  1. BES171/E-Payment #1: MDR, PoS, Interoperability, BharatQR, Ratan Watal, C.Naidu Committee
  2. BES171/E-Payment #2: Budget penalties on Cash, Lucky Grahak, Paygov, NTRP, DipYAN,
  3. BES171/E-Payment #3: Mains Answer writing Practice on Digital Payment

Prologue: from now on, from now on, all Powerpoint available at http://mrunal.org/powerpoint

BES171/E-Payment #1: MDR, PoS, Interoperability, BharatQR, Ratan Watal, C.Naidu & Budget provisions

  • In earlier parts, we learned the MCQ, objective type theory and current affairs for digital payment systems and mobile banking.
  • Now let’s move to analytical and descriptive aspects for UPSC mains and interviews
  • As such, Government of India had constituted Ratan Watal Committee and then Chandrababu Naidu Committee to suggests ways to increase digital payments in India. Later, even economic survey of India and Yojana February 2017 also suggested measures make India a less cash economy.
  • In this session, we’ll look at those challenges and reforms, including the provisions made in the latest budget.
  • On the technical side, challenges include 1) merchant discount rate (MDR) and KYC norms for buying PoS terminals vs latest BharatQR code. 2) interoperability i.e. ability to move money from one platform to another and 3) scams and regulatory structure.
  • As recommended by Ratan Watal, the latest budget mentioned setting up a separate payment regulatory board (PRB) under RBI to take over the functions of erstwhile BPSS for monitoring digital payments.
  • In this episode, we’ll take a look at all three of them- including their challenges and reforms.

BES171/E-Payment #1: MDR, PoS, Interoperability, BharatQR, Ratan Watal, C.Naidu & Budget provisions
Youtube Link: http://youtu.be/ryNXnY8Sje0

BES171/E-Payment #2: Budget Tax incentives, Lucky Grahak, Paygov, NTRP, DipYAN,

  • Continuing from the previous episode, here we’ll finish with the remaining three challenges to adoption f digital payment system in India viz 1) Government itself is not role model, 2) lack of financial literacy 3) even those who’re aware, not changing their behavior.
  • While Government of India launched two portals for e-transactions 1) paygov 2) Non-tax reciept portal BharatKosh, and launched Digital financial literacy campaign under HRD ministry, but overall, Government itself is not a role model when it comes to adoption of digital payment in internal functioning.
  • Ratan Watal Committee suggested a new fund “DIPYAN” from the savings of digitization and use it for further promotion of digital payments.
  • Chandrababu naidu suggested income tax relief for families using digital payments. Budget also used certain ‘carrot-and-stick’ approaches to make households, firms and political parties to use banking routes more than cash methods, this includes section 269ST, 217DA and other amendments in Finance bill 2017.
  • NITI Ayog and NPCi also offering lottery schemes such as lucky grahak yojana for adoption of e-payment methods but is this sustainable in long run? Economic survey has some interesting conclusions. We’ll see all this in the present episode.

BES171/E-Payment #2: Budget Tax incentives, Lucky Grahak, Paygov, NTRP, DipYAN,
Youtube Link: http://youtu.be/44HrMNxWyxs

BES171/E-Payment #3: Mains Answer writing Practice on Digital Payment Mock Questions

  • Answer following questions in 200 words each, and then start the video for model answer framework and common mistakes:
  • Examine the challenges against usage of digital payment in India, and suggest remedies. (200 words)
  • Discuss the significance of following, in making India a “cashless economy: (i) “interoperability (ii) “blockchain technology. (200 words)

BES171/E-Payment #3: Mains Answer writing Practice on Digital Payment Mock Questions
Youtube Link: http://youtu.be/_4n46Nwvs_M
from now on, from now on, all Powerpoint available at http://mrunal.org/powerpoint
Next lecture: we’ll start with evolution and classification of banking and financial intermediaries in India, including latest budget provisions and current affairs including Indian Postal Payment Bank (IPPB).

Mrunal recommends

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So far 42 Comments posted

  1. Suraj Mishra

    Thank You, Sir! It’s helpful with PowerPoint here only. You always care for us. Love.

  2. Ruhi

    Mrunal Sir,
    Please tell if A Person is a Beginner shall he /she needs to start from BES171 series or he/she needs to study your previous lectures L1 to L10 also

    Please reply

    1. RISHABH

      You Should First Cover Basics of Economy. Then Directly Move to the Latest Series. If You want to Clarify your Doubts then go to Previous Lectures Otherwise Ignore them. Thank You

  3. Wellwisher

    A beginner will have to start with the basics. Go through L0-L10.

  4. Ash

    Bes171 is enough… Mrunal has already said what he is teaching now is revision of all previous lectures and I have seen his previous lectures he is covering up those with new information in present so u can directly continue with bes171 series

  5. parveen

    thank you Mrunal sir, you are the only one because of him I am confident in this part of my preparation


    Thank u sir
    very useful for all types of aspirants, mainly civil service preparation candidates like me

  7. Amit

    Thank You sir, Jai Hind, Jai Bhim , Lal Salam

  8. Aamir

    guys plz reply. Validity of OBC certificate??

  9. Ashish pandey

    Sir, is bar pratik nayak sir ki koi lecture series aaegii kya??

  10. Sravan k.warrier

    Sir I have previous unsolved test series, so shall I practice that papers for this year prelims

  11. Ashish Pandey

    Sir, whenever i try to pay for my application fee of exams like upsc , uppcs etc i am redirected to sbi portal where they only accept mastercard, visa and maestro card not RUPAY. even cse 2017 notification eplicitily mention to pay only via mastercard, visa debitcard.
    Sir if RUPAY’s father is NPCI and their stakeholders are banks like sbi. Why they dont accept RUPAY cards.

  12. Darshan

    please provide epfo AO answer key ASAP

  13. sanjay

    Sir ppt BSE nii download ho rhi h please koi baataye kse hogi.

  14. D.VALA

    Sir,when will these lecture series be completed? Approx. time..?

  15. Himanshu Rajput

    Hi Mrunal,

    You have been doing some great work!

    Just waitng for the next part of the series to be uploaded. And kindly let us know in how much time the whole series would be finished. Eagerly waiting for your reply.

    Thank you

  16. DC

    Sir, can we gt 2 knw how much more days it wl take before uploading the next videos in this series??

  17. abhinav

    kya kahin per uppcs ki jobs ka work profile detail mil sakta hain

  18. mahesh shankar valvi

    wish you happy holi sir thanks for all videos

  19. Prashant Raj

    Sir, how much time it will take to cover this complete series of BES 171 , all 6 pillars .

  20. jokeratupsc

    Dear Mrunal sir,

    PLease upload your next lectures, eagerly waiting, btw, Pratik sir kaha hai, please request pratik sir to start his lectures which he has planned, please, please, upload your next lectures!!


    1. BATMAN

      Yes. Especially Ancient & Medieval History

  21. Wall Street Bull

    Please upload next budget lectures Sir. Earnestly waiting for them.

  22. Suraj Mishra

    Dear Sir,

    Hope you are doing well and everything is fine. Prayers for you and your family’s well-being.

    1. BATMAN

      Hey. Anything serious? What happened to Mrunal bhai?

    2. Wall Street Bull

      What happened to sir? Is he okay?

  23. Malkhe

    Hello Sir, I am waiting for next video on economy. Hope you would be preparing. please upload soon. Thank you so much Sir. You are unsung Hero of the country

  24. Brijesh

    Dear Mrunal Sir,
    You are not aware how eagerly thousands of students like me wait for your Economy classes and how much dependent people are on your extremely high quality classes. However the frequency of updation of classes on youtube this year has gone down this year affecting the flow of preparation. Requesting you to kindly look into it asap. Thanks a lot for all your efforts.

  25. Nitin

    Sir, Please do post your next lecture, because U r the only person whom I know can teach the complex economy in easiest way. Eagerly waiting Thank You Sir

  26. mayank

    dear sir,
    please upload next lecture …….you had uploaded last ppt two weeks ago……..

  27. DC

    ya wts d issue Suraj Mishra, do u have any idea??

  28. Deepak Sharma

    Dear mrunal sir

    pl upload complete series before rbi grade b 2107 examination . your video series is a boon for many of us.

  29. Anshul

    Eagerly waiting for coming lectures


    Sir Ji,

    Only 3 months left…Please upload upcoming lectures as soon as possible….Kripa ho jaegi hm gareebo pe..

  31. Irfan

    Sir when you’ll upload the next video sir

  32. Swapnil

    Thank you mrunal sir your lecture series is very useful Please upload next videos and it’s ppt sir

  33. Naman Goyal

    Sir, When will be the next pillars of BES171 come up?

  34. Shah Jahan

    Guys…I think we should continue our preparation with old videos by updating ourselves.Because right now sir is busy with mock interview preparation. So without losing time in waiting we should continue.

  35. B@B@


    We understand that you must be having some reason for not coming up with new lectures. But can you suggest us waht to prepare as homework? so that we can reduce our last minute burden.

  36. swapna

    Sir kindly upload next videos of BES171 series

  37. Dnyaneshwar Rathod

    Thank you mrunal sir,your BES171 series is very helpfull for us and pls new lecture……..video
    ham vidharb rural area se(MH) se hai
    Sir pls help us

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