Starting with leadership in mobile payments to building credit underwriting and insurance cross sell, Bipin has enjoyed building new products as well as getting distribution muscle to 100 million customers

The historic announcement by Prime Minister Narendra Modi to discontinue Rs.500 and Rs.1000 currency notes will go down history as the harbinger of digital revolution. With over one billion mobile phone users and having the second-largest online population in the world (after China), India already has the groundwork for an explosive growth in other technologies like the mobile internet, digital payments, cloud computing and the internet of things.

McKinsey estimates these technologies to deliver an annual economic impact of $500 billion to $1 trillion per year by 2025. That would represent 20-30 percent of India's incremental economic growth between 2012 and 2025. However, as most digital transformation across industries and countries continues to unfold, the people dimension of these transformations has emerged as the key to unlocking value and ensuring the sustainability of the changes.

Take the case of digital payments sector in India. It is estimated to grow to $500 billion by 2020, up from roughly $50 billion last year. Driving this growth would rest on the

budding talents, technologists, the academia and fintech experts. Premier academic institutions such as the IITs and the NITs, besides the Indian Institute of Science, Bangalore can practically make a big contribution in this respect, starting specialized branches in keeping with the industry requirements.

The next level of growth would come from future technologies which graduates from these institutes can churn out, new concepts and scalable ideas which would deliver additional value to consumers. In this game, whoever does the best job of getting best recall, and delivering best user experience, will win the race.

The value of digital transaction post demonetization has jumped 80 percent ie., INR 1800 Cr backed by Government

A lot of movement is already visible in the fintech space as wallet majors are tying up with banks and NBFCs to offer a host of financial product and services, including loans and insurance. Innovation in delivery of services born out of this alliance would rest on developing cutting edge technology. Expansion in the offline world would also to a great extent depend on ease of doing transactions as well as the ease of doing payment on online sites for rail or air ticket. All of these calls for creation of a pool of talent who can help realise these objectives.

The new age payment gateway with robust security features can only support such large volumes of transactions. This can be delivered by the rich pool of talent, with upgraded security features and safety features to thwart cyber crime. RBI's recent guidelines on interoperability between digital wallets bring with them a host of opportunities for innovations in the payment space, and the coming times would stand testimony to this.

Helping the rural populace, with limited access to internet and broadband connectivity, derive the benefits of digital payment is a challenge that talents in hand can help address. The challenge is to help farmers get access to more buyers, enabling them to run a more profitable business and paving the way to a cashless agricultural sector.

A cashless India is a dream of the Narendra Modi Government, and this can be met by the talent who can drive innovation.