NPCI Tokenisation system will support RuPay cards

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Mumbai, Oct 20 | In line with the recently issued guidelines by the Reserve Bank of India (RBI) to secure customers’ financial data, National Payments Corporation of India (NPCI) on Wednesday launched NPCI Tokenisation system (NTS) to support tokenisation of RuPay cards as an alternative to storing card details with merchants.

The NTS will further enhance the safety of customers and provide a seamless shopping experience to consumers.

“We are confident that NPCI Tokenisation System (NTS) for tokenization of RuPay cards will instil further trust in the millions of RuPay cardholders to carry out their day-to-day transactions securely,” Kunal Kalawatia, Chief of Products, National Payments Corporation of India, said in a statement.

“We believe that this unique Card-on-File (CoF) Tokenisation solution will not only safeguard customers’ confidential data but will also further strengthen the overall digital payments environment,” Kalawatia added.

Based on the set of guidelines that have been mandated by the RBI, sensitive customer information is to be stored in the form of an encrypted ‘token’ to help secure transactions.

These tokens then allow payments to be processed without disclosing the customer details or allowing the payment intermediaries to store customer data that could breach security and privacy.

NPCI’s Token Reference On File (TROF) service will help millions of RuPay cardholders, maintain the security of their financial data. The card details of the customers will be completely safe & secure at the RuPay Network Secure vault.

With NTS, acquiring banks, aggregators, merchants and others can get themselves certified with NPCI and can play the role of Token Requestor to help save the Token reference number (Token Reference On File) against all card numbers saved.

Recently, digital payments firm Visa launched CoF tokenisation services in India. Visa’s card tokenisation service is currently available with ecommerce platforms such as Grofers, Bigbasket and MakeMyTrip.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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