DIRTY Truth Behind Indian Banking & Financial Services - Mobikwik's Upasana Taku | FO125 Raj Shamani

Sep 20, 2023

Upasana Taku, Chairperson, Co-founder, and COO of MobiKwik, talks about democratizing financial services in India. She shares insights into her personal journey and experience at HSBC and PayPal. The podcast explores the challenges in the Indian banking and financial services sector and the rise of fintech in India. It also discusses the underutilization of women in the workforce and the importance of finding the right investor and negotiation skills in entrepreneurship.

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Introduction

00:00 • 3min

Education and Entrepreneurship

02:51 • 15min

Building Relationships and Personal Conversations in the Workplace

17:42 • 14min

Product Creation and Cost Analysis

31:27 • 2min

The Importance of Contextual Feeling in Therapy

33:11 • 3min

Finance Industry Challenges and the Need for Agility

36:22 • 5min

The Launch of a Degree Program and Association with Democratized Fields

41:26 • 2min

Exploring Hybrid All Spending and Registered Investment Work

43:32 • 2min

The Significance of Family, Education, and Payment Revolution

45:20 • 2min

The Growth and Importance of Fintech

46:52 • 8min

The Underutilization of Women in the Workforce

55:11 • 11min

Finding the Right Investor and the Art of Negotiation

01:05:48 • 11min

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In today’s episode, Raj is in talks with Upasana Taku, Chairperson, Co-founder, and COO of MobiKwik. They talk about the remarkable journey of fintech in India and Upasana's incredible rise in the industry.

Upasana passionately explains that MobiKwik's existence is rooted in the need to democratize financial services in India. She emphasizes the challenges faced by millions of Indians, particularly those earning modest incomes, in accessing basic financial services. MobiKwik's mission is to bridge this gap and make financial services accessible to all. The podcast also delves into Upasana's personal journey, from her humble beginnings to her education at Stanford. Her experience at Stanford, a renowned hub of entrepreneurship, played a pivotal role in shaping her entrepreneurial spirit. She shares insights into her professional journey, including her time at HSBC and PayPal, providing a unique glimpse into launching PayPal in various countries and India's productive work environment.

The discussion then turns to the differences between rural and urban India and how India must aim to address the financial challenges faced by people in both areas. Upasana highlights the importance of catering to both essential and aspirational financial needs, creating an inclusive financial ecosystem.Join Raj Shamani and Upasana Taku in this illuminating podcast episode that uncovers the past, present, and future of fintech in India, offering a unique perspective on the immense opportunities and challenges within the industry existing different for men & women. Make sure you watch the podcast till the end!

Follow Upasana Taku On

Linkedin: https://in.linkedin.com/in/upasana
Instagram: https://www.instagram.com/upasanataku/

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Timestamps:

00:00 - Introduction
03:08 - How did she get into Stanford University?
07:00 - How did she bag a scholarship?
10:55 - Education at Stanford
11:40 - Salary of a Stanford Graduate
12:32 - Her jobs at HSBC & PayPal
15:50 - Why PayPal won?
17:37 - India's degrading work culture
20:09 - Her Experience in Israel
22:41 - How did she start working in India?
24:30 - Why does MobiKwik exist?
26:53 - Difference between Urban & Rural India
30:44 - Why are banks not giving loans?
33:52 - How does MobiKwik grant loans?
36:26 - Biggest finance problems in india
42:07 - How to trust financial platforms?
45:45 - US Vs India in financial sector
48:15 - How will India become the 3rd largest power?
53:21 - Why shouldn’t we follow the West blindly?
55:50 - Is India under utilising women workforce?
1:04:09 - Denied funding for being a woman?
1:06:40 - Art of negotiation
1:10:28 - Rejected for a feature by a famous magazine?
1:15:08 - Conclusion

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Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.

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