Opinion Piece: Let me share a truth with the Hindus: In Modi's 12 years in power, GDP growth has been almost zero

[Faceless]

There is no such thing as "no wallet." The money simply goes into Modi's wallet instead. Every transaction, instead of passing through Paytm, now goes through Modi's intermediaries to the banks. The world isn't that full of fools — and this kind of government propaganda is utterly meaningless.

I was considering replying to you seriously then I saw this and @mythbuster rightly pointed out you are a troll and are doing this misinformation and propoganda knowing.
I would urge @CallSignMaverick @Vikramaditya1 to not respond to this moron anymore

 

[retaxis]

Chinese favorite leaders are Modi and Trump. No one has done more for China than Trump creating chaos and fighting within their own union and dragging his country into a laughing stock. Modi does absolutely nothing but yap yap yap while the average indian living conditions has not improved and have become super reliant on chinese tech and US internet infrastructure and apps. So we hope Trump and Modi can be leaders forever.

 

[mythbuster]

I was considering replying to you seriously then I saw this and @mythbuster rightly pointed out you are a troll and are doing this misinformation and propoganda knowing.
I would urge @CallSignMaverick @Vikramaditya1 to not respond to this moron anymore

He is not a moron , he's drawing circles around you dimwits .

 

[Nan Yang]

This is just too funny lol
Thank you

The explanation came from Goggle which is run by an Indian.

 

[peagle]

you got an answer from the chinese about Jack Ma . you decided thats the right answer for UPI.

what's the confusion ? you have decided correctly. seeing your flags i.e.

Frankly, you don't have a banking system worth a UPI, not in Pakistan, not in UK. you are good at snarky remarks on PDF living in UK . keep doing that.

PS : Modiji is coming back in 2029. You can cry, cope, get angry, get furious and what not..ban me..LoL..

Hindus are happy with BJP.

Ohhh i love meeting dumbos, don't worry i'm not calling you one, you're father of Einstein.

Before i start, can you please tell me why do all indians think that truth and facts are decide by either geography or religion?

Why are you people so obsessed with religion? Even your crap is holy.

Ok....
Pakistan,
UK,
Modi-she

Pakistan,
I agree, the banking system stinks. But how does that change the fact india is living on Chinese imported system. Three indians have replied to my post, when i posted no opinion. Still not one has provided a sensible answer.

UK,
I see Indians everyday begging to live here, so whatever you may think of your system, you'd kill each other for a chance to live in the UK. So what's with the attitude?
I've seen a many Indians saying for years they don't care about British nationality, we're going to go back to india BS. When the nationality comes, they give out mithai/sweets like it's a great achievement and even go out to celebrate

Modi-she,
This is the part that really gets to me, array paglay/I am fool Pakistanis love modi-she more then any indian alive.
I swear to all thing i hold dear to my heart, i'd cut off each of my fingers one by one if a higher power could guarantee modi-she a victory at every election.
After him, i wish a million billion times that bandar/monkey from UP becomes a prime minister of india.

 

[Nan Yang]

Wallets are outdated. Paytm existed long before Alibaba came in with funds. All they did was give it enough money for marketing through offering cashback offers. Banking rules are strict in India, so wallets are more like an unofficial savings Bank without any government scrutiny or interest payments which eventually lead to regulators pushing hard for reform. Introduction of inter-intra bank IMPS rendered Paytm even more useless why do you need an intermediate wallet when you have a bank account that pays interest.

This answer is from Goggle.

How important was Alibaba or Alipay contribution to Paytm

Alibaba and Alipay (Ant Financial) were critically important to Paytm's early survival, strategic scaling, and transformation into a dominant digital financial powerhouse. [1, 2, 3]

Capital and Valuation Injection

• • Massive Funding: Ant Financial invested roughly $500 million for a 25% stake in 2015, followed by hundreds of millions more, eventually giving Alibaba/Ant a ~40% stake. [1, 2, 3]
  • Unicorn Status: This financial backing immediately catapulted Paytm into India's unicorn club and provided the capital needed for aggressive customer acquisition. [1]
  • Scale and Survival: The cash infusion allowed Paytm to heavily subsidize marketing, build tech infrastructure, and survive cash-burning mobile wars. [1]

Operational and Technical Expertise

• • Risk Management: Alibaba deployed risk-profiling engineers from China to Paytm’s Noida office to reduce fraudulent transactions.
  • Fraud Reduction: Expert interventions helped drop suspect transaction rates from 0.12% down to 0.04%.
  • Corporate Maturity: Founder Vijay Shekhar Sharma noted that Alibaba shifted Paytm's culture from a chaotic startup mindset to a disciplined, large-scale enterprise structure. [1]

Product Blueprint and Strategy

• • The Super-App Model: Paytm closely replicated Alipay’s playbook, using utility bill payments (gas, electricity) to drive daily active app usage. [1, 2]
  • E-commerce Expansion: Alibaba’s direct investment in Paytm E-Commerce ($177M in 2017) helped mirror the ecosystem synergy seen between Alipay and Alibaba in China. [1, 2]

If you'd like, I can detail:

• How Paytm's post-2020 decoupling from Chinese ownership unfolded
• The impact of regulatory shifts on Paytm's partnership with Ant Financial

 

[peagle]

The explanation came from Goggle which is run by an Indian.

So you think Google is funny?

Wait, please explain the logic because this is just beyond stupid.

There's an indian, who's been given a job. For which he really should be grateful.

But, You think everything that happens on google, any activity, including a search is due to him?
You need your head examined

 

[Malcolm Reynolds]

Ohhh i love meeting dumbos, don't worry i'm not calling you one, you're father of Einstein.

Before i start, can you please tell me why do all indians think that truth and facts are decide by either geography or religion?

Why are you people so obsessed with religion? Even your crap is holy.

Ok....
Pakistan,
UK,
Modi-she

Pakistan,
I agree, the banking system stinks. But how does that change the fact india is living on Chinese imported system. Three indians have replied to my post, when i posted no opinion. Still not one has provided a sensible answer.

UK,
I see Indians everyday begging to live here, so whatever you may think of your system, you'd kill each other for a chance to live in the UK. So what's with the attitude?
I've seen a many Indians saying for years they don't care about British nationality, we're going to go back to india BS. When the nationality comes, they give out mithai/sweets like it's a great achievement and even go out to celebrate

Modi-she,
This is the part that really gets to me, array paglay/I am fool Pakistanis love modi-she more then any indian alive.
I swear to all thing i hold dear to my heart, i'd cut off each of my fingers one by one if a higher power could guarantee modi-she a victory at every election.
After him, i wish a million billion times that bandar/monkey from UP becomes a prime minister of india.

whatt ?

you decided Jack Ma has not built UPI then ?

 

[Nan Yang]

Chinese favorite leaders are Modi and Trump. No one has done more for China than Trump creating chaos and fighting within their own union and dragging his country into a laughing stock. Modi does absolutely nothing but yap yap yap while the average indian living conditions has not improved and have become super reliant on chinese tech and US internet infrastructure and apps. So we hope Trump and Modi can be leaders forever.

Zelensky also done a lot for China.

 

[Nan Yang]

Wait, please explain the logic because this is just beyond stupid.

There's an indian, who's been given a job. For which he really should be grateful.

But, You think everything that happens on google, any activity, including a search is due to him?
You need your head examined

Just saying Goggle CEO is an Indian. That's all.

Have a nice day

 

[CallSignMaverick]

"I see Indians every day on social media showing off Lamborghinis and Rolls-Royces"

 

[Vikramaditya1]

Jack Ma is an undisputed pioneer and driving force in the global wave of mobile payment adoption. No matter how you try to argue otherwise, it is useless. After Jack Ma came to India, India miraculously had its own mobile payment system. There are not that many miraculous coincidences — unless, of course, you want to claim that UPI started the global mobile payment revolution. But that kind of propaganda is nothing more than a cover .

You gonna tell me Jackie chan invented kung fu.
PayPal was the first to use wallets or rather popularized mobile wallets. Jackma and Paytm investment was irrelevant. The only reason mobile payment was popularised is because of government policy on banking penetration improvement. What has Paytm or Jackma got to do with government making bank accounts mandatory or secondly government recalled 500 and 1000 currencies forcing people to use digital payments for almost 3 months by that time mobile internet penetration has reached every corner in India. It's all well timed, not some Jack Ma investing in Paytm causing this all. That's what you like to believe.

 

[Vikramaditya1]

What you are describing is the function.
What he is describing is how it functions and the origin. It seems to make sense.

Maybe you didn't understand what it is. The underlying technology is quite simple and have existed long before this in 2010, it's called IMPS (Immediate Payment Service), but this was only possible through internet banking through a PC. What the government did was create another IMPS for mobile phones and made the process quite simple using phone numbers linked to bank accounts instead of Bank account number. It is not a new technology, the Chinese contribution to all this will be cheap xiaomi phones with cameras. I give them that, because of them the masses could buy some 6k 4G phone with 8MP camera.

 

[Nan Yang]

Maybe you didn't understand what it is. The underlying technology is quite simple and have existed long before this in 2010, it's called IMPS (Immediate Payment Service), but this was only possible through internet banking through a PC. What the government did was create another IMPS for mobile phones and made the process quite simple using phone numbers linked to bank accounts instead of Bank account number. It is not a new technology, the Chinese contribution to all this will be cheap xiaomi phones with cameras. I give them that, because of them the masses could buy some 6k 4G phone with 8MP camera.

Quote.... By Goggle.
Problems & Vulnerabilities

1. Infrastructure Outages & Glitches

• Intermittent Downtime: Major commercial banks frequently experience short, unpredictable outages where "IMPS services are temporarily unavailable due to technical issues". [1, 2]
• Transaction Timeouts: High network traffic leads to timed-out requests. This leaves funds "in limbo"—debited from the sender but not credited to the receiver—causing user panic and severe reconciliation burdens for banks. [1, 2, 3]

2. Liquidity and Settlement Risks

• Asymmetric Settlement Loads: IMPS uses a Deferred Net Settlement (DNS) model. Transactions clear immediately for consumers, but banks settle net balances with each other in periodic batches. [1]
• Liquidity Shortages: If a mid-sized bank suffers an unexpected surge in outward IMPS requests, it can run out of intraday liquidity in its central bank account. This risk delays settlements and threatens minor systemic shocks. [1]

3. Security and Operational Risks

• No Chargeback Mechanism: IMPS transactions are instant and irreversible. If a user accidentally enters one wrong digit in an account number or IFSC code, the funds are permanently sent to the wrong person with virtually no automated recourse. [1, 2]
• Systemic Credit Software Flaws: Technical bugs can be catastrophic. For example, a severe glitch in a government-owned bank's IMPS routing software accidentally credited massive, erroneous funds to accounts without actually receiving the money from the originating banks, forcing a temporary total shutdown of the service. [1]

---

 

[peagle]

Maybe you didn't understand what it is. The underlying technology is quite simple and have existed long before this in 2010, it's called IMPS (Immediate Payment Service), but this was only possible through internet banking through a PC. What the government did was create another IMPS for mobile phones and made the process quite simple using phone numbers linked to bank accounts instead of Bank account number. It is not a new technology, the Chinese contribution to all this will be cheap xiaomi phones with cameras. I give them that, because of them the masses could buy some 6k 4G phone with 8MP camera.

Try not getting your panties in a twist and a discussion can go a lot easier. I did not ask for your explanation, you offered it, it was on you to provide a clear explanation.

I have already mentioned i couldn't care less, as i don't hold much value in these little evolutions. In my view the best thing you guys have done is in the increasing formalising of the economy, in which these payment systems have played a role. Much of your economic growth is largely due to the formalising of economic activity more then anything else.

But, like i said, i couldn't care less. Two people have a differing opinion, i will go by what makes sense. Like you people, My logic isn't based on geography or religion, but logic.

Now if the other guy wants to add anything i will read it. The impression i get is that the Chinese laid the framework and india built on that. A solution does not have to be a carbon copy, you merely have to apply the lessons to different solutions. It doesn't mean the original contribution has lost it's value. That's my impression so far.

But i'm keen to learn, since it's so important to both of you, i can spend few more minutes on the topic.