Why is Paytm India's Top Startup?

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Paytm was launched in 2010 as an Indian start up. The original service of Paytm was to help users to make their bill payments and recharge mobile phones, while earning reward point. In this post we will see the reason why Paytm is considerd the top indian startup and get more details about this startup. What is Paytm? Paytm was founded by Vijay Shekhar Sharma, in Noida with an initial investment of $2 million. Paytm's parent company One97 Communications which is also owned by Vijay Shekhar Sharma was started in 2000 and operates into multiple fields. Who owns Paytm? Paytm has been backed by Jack Maa's Alibaba and Ratan Tata of the infamous TATA Group. Although partially owned by Chinese company Alibaba, Paytm remains an Indian company with majority of stake holders being Indians (primarily Ratan Tata and Vijay Shekhar Sharma himself.  What got Paytm the required boost? Paytm added a lot of features in 2013 and moved from a mobile and DTH recharge service to an online payment pl
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Glass Half Empty or Half Filled

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O.P. Bhatt
State Bank of India (SBI) is India’s largest and oldest bank with 2 Lakhs employees and 20,000 branches across India. Appointed in 2006, O.P. Bhatt former chairman of the bank was aware of the immense creative potential of SBI’s large employee base and was eager to find ways to unleash it.

Dr. Prasad Kaipa
The problem faced by him was, since SBI is partially owned by the Government of India, which in turn is run by risk-averse bureaucrats who vet every hiring and firing decisions. As Dr. Prasad Kaipa, a CEO coach who has advised Bhatt, points out “it was clear to Bhatt from the start that he could neither ‘get the right people on the bus not get the wrong people off the bus”.

Rather than feeling that his glass was half empty, he decided to do the most with what he has. He used his superior communication skill to develop an internal communication targeted towards staff. He wanted his employees to feel proud of SBI’s distinguished 200 year old history. It was done through an in-house training program called Parivarthan. He instilled a new sense of commitment into SBI staff across all levels and departments.

In time, the programme began to bear fruit. SBI employees felt more empowered, demonstrated greater creativity, and took customer service to new heights. Across the country, employees began to devise bold and ingenious solutions to problems they had always faced but felt the desire or had the support to address them.

Mr. Sivakumar, the local business head of SBI operations in Hyderabad launched within five months a SMS based customer complains thus building a loyal customer base receptive to the banks future marketing and promotions initiatives.

Four years later, SBI increased its market share from 16.5 percent to 19 percent. It doubled its stock price and boosting customer satisfaction, and all this in a mature and highly competitive market. In the same period SBI also won many international awards for its performance.

As Bhatt’s story shows. Jugaad innovators don’t find opportunity in spite of adversity, for them adversity itself is the opportunity. For them the glass is always half full.

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