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India’s move to diversify its digital payment system presents a massive opportunity for technology giants such as Amazon, Facebook and Google, who are keen to tap the country s rapidly expanding market.
The Reserve Bank of India (RBI), the country’s central bank, invited companies last year to apply to establish alternatives to the retail digital payment network run by the government-operated National Payments Corporation of India (NPCI).
The move is expected to reduce the country s dependence on one network and mitigate risks. It can also help companies looking to gain a foothold in India’s burgeoning digital payments industry, analysts say.
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The MD of IN10 Media talks about the new launch, the distribution plans and the road ahead.
It is fair to say that the last time a large media network launched a Hindi pay general entertainment channel (GEC) in India, it bombed. Discovery Jeet was rolled out by infotainment giant Discovery Network in 2018. The goal was to attain scale. The channel shut down last year (2020).
Owned by Mahindra Group chairman Anand Mahindra and the Pittie Group, IN10 Media Network has jumped into the crowded sea of experienced and established giants. The network has launched a GEC, called Ishara, which will now compete with the likes of Star Plus, Zee TV, Colors Sony TV, &TV, Star Bharat, etc. The goal is to have a market share in the biggest genre.