MAM
Weekend Unwind with: Hotstuff Medialabs chief creative officer Terence D’souza
Mumbai: With another weekend upon us, IndianTelevision.com rolls over to the next edition of fun snippets that peek into the mind of a corporate executive. This week, sharing his musings with us we have the chief creative officer of Hotstuff Medialabs, Terence D’souza.
An advertising professional, creative director, filmmaker, writer, musician, and brand strategist- all rolled into one, Terence pursued a career in finance before realising his true calling was in advertising. He then switched over from Auditing to Copywriting in 2012, by joining Hotstuff. Here, he channelled his finance acumen into transforming communication for most BFSI brands, and was instrumental in introducing off-beat jingles and genres of communicating financial information through his campaigns. He specialised in investor education drives, working very closely with the mutual fund industry and more than 50+ brands, including ICICI Prudential MF, Edelweiss MF, Kotak Life Insurance, SBI Life Insurance, Axis, SUD Life, HDFC Ergo, HDFC Life, IIFL Group and UTI Mutual Fund to name a few.
So here goes…
– Your mantra for life
Choose happiness. Everything else will follow.
-A book you are currently reading / plan to read
The Silmarillion by JRR Tolkien. (Hope to finish it before the Rings of Power starts streaming on Prime).
-Your fitness mantra, especially during the pandemic
I choose sports over the gym, and play Badminton- Properly, I mean, with the right technique on courts. It helps me be more agile.
-Your comfort food
Dal, rice, and rava fried fish- especially when it rains.
-When the chips are down a quote/ philosophy that keeps you going
The poem Invictus by William Henley, especially the last verse which goes, “It matters not how strait the gate, how charged with punishments the scroll, I am the Master of my fate, I am the Captain of my Soul.”
-Your guilty pleasure
Loud and ultra-macho action movies from the 80s.
-When was the last time you tried something new?
Tried mint flavoured coffee for the first time a week ago. Felt like I was brushing my teeth with coffee.
-A life lesson you learnt the hard way
If you don’t protect your work as you would your own children, someone else will raise them.
-What gets you excited about life?
The fact that an entire generation of kids is being introduced to 80s music and pop-culture once more, gives me hope.
-What’s on top of your bucket list?
Winning an Oscar for Best Director.
-If you could give one piece of advice to your younger self, what would it be?
Travel more, by yourself. You will discover a side of you that is beautiful.
-One thing you would most like to change about the world
Only educated citizens with a proper psych evaluation and certified cognitive skills should be given a license to vote in every election.
-An activity that keeps you motivated / charged during tough times
Talking to the ones closest to me, and realising that no matter how bad it gets, I am still the hero of their story and they believe I can win.
-What lifts your spirits when life gets you down?
I get by with a little help from my friends.
-Your go-to stress buster
Sunday jam sessions with my band Kehkasha. It’s my anesthesia.
MAM
10 years of UPI: India’s payments system hits 21.7 billion transactions a month
From queues to QR codes, digital push drives inclusion and real-time ease
NEW DELHI: India’s digital payments story has come a long way from queues at bank counters to instant QR code scans, with the Unified Payments Interface now processing a staggering 21.7 billion transactions in a single month, underlining its position as the world’s leading real-time payments system.
Not too long ago, routine transactions meant paperwork, waiting periods and, for many, complete exclusion from the formal financial system. Today, that landscape has been fundamentally reshaped by a digital ecosystem built on scale, simplicity and accessibility.
The shift gained momentum in the early 2000s when the Reserve Bank of India introduced systems such as RTGS and IMPS. While these laid the groundwork for faster payments, their reach remained limited to those already within the banking fold.
A decisive breakthrough came with the JAM trinity, combining the Pradhan Mantri Jan Dhan Yojana, Aadhaar and widespread mobile connectivity. This framework expanded financial access, enabled direct benefit transfers and familiarised millions with digital transactions.
“The JAM Trinity catapulted our banking to a different level altogether,” said Nirmala Sitharaman, highlighting its transformative impact.
Launched in 2016 by the National Payments Corporation of India, UPI simplified money transfers by removing the need for complex bank details. With just a mobile number or UPI ID, users can send and receive money instantly, round the clock.
Its scale has expanded rapidly, with participating banks growing from just over 200 in 2021 to nearly 700 by early 2026. Today, UPI accounts for 81 percent of India’s retail digital transactions and nearly half of global real-time payment volumes, according to global institutions such as the International Monetary Fund and the World Bank.
Beyond convenience, the platform has driven deeper financial inclusion. From street vendors and autorickshaw drivers to rural traders and domestic workers, millions now participate in the formal economy through instant, low-cost transactions. The system has also opened doors to credit, insurance and savings products for previously underserved segments.
New features such as UPI Lite, AutoPay and credit integration are further expanding its scope, turning it into a broader financial platform rather than just a payments tool. At the same time, enhanced security measures like two-factor authentication have strengthened user trust and reduced fraud risks.
India’s payments innovation is also gaining global traction, with UPI-linked systems now operational in multiple countries, enabling seamless cross-border transactions and boosting remittances.
What began as a solution for financial inclusion has evolved into a global benchmark for digital payments. As India continues to move from queues to QR codes, UPI stands as a powerful example of how technology can simplify everyday life while driving economic participation at scale.
