Page 42 - Banking Finance June 2017

INTERVIEW

at EPS delves into Research & Development of various in- industry followed by EPS ranking 10th among the 13 Biggest
house products and services, making it the backbone of EPS' funded Start-ups of India by YourStory magazine in July 2016.
operations.Being a contributor in the R&D space, EPS forays EPS has been earlier recognised by some major publications
into either develop products to serve the local market or help like Silicon India, Consultant Review, ERP insights, CEO
the company deliver new innovative generation of products
magazine etc, to name a few. The company has also
and services faster to the markets across the BFSI sector. received awards from the global ATM industry body, ATMIA,
EPS has also ventured into in-house R&D to enable ATM Hughes Communications etc. EPS has bagged industry
Electronic Journal(EJ) pulling services with superior recognitions as 'India's Most Trusted Brand Award' by IBC
transaction uptime and successfully developed a robust EJ InfoMedia,'Best ATM Managed Services Provider' at the
software solution EPSmartX for Windows OS based ATMs. Payment & Cards Summit, and 'Best ATM Service Provider'
The range of simultaneous R&D projects taken into at the 3rd Annual Financial Inclusion & Payments Summit
consideration are e-surveillance services, cash replenishment and many more.
services, Digital Banking services, reconciliation support and About Mr. Mani Mamallan
security services, thus making EPS a Technology Solutions
Provider for all banks. Founder, Chairman & Managing Director of Electronic Pay-
ment and Services (P) Ltd., is well known for his in-depth
knowledge, innovation and ingenuity in the retail technol-
Any other development you would like to share. ogy banking space, including the microfinance domain.
Among several accolades and achievements received, the This year, Mani has been honoured as one among the Top
most recent was when EPS was honoured as "Best ATM 35 FinTech Entrepreneurs 2017 by The Smart CEO maga-
Managed Service Provider" in the Smart Money Awards in zine. In conjunction, he is the first Indian to be nominated
March 2017. This was preceded by our Founder, Mr. Mani as an International ATM Industry Champion in April 2016
Mamallan being featured among Top 35 FinTech by the global ATM Industry Association (ATMIA) with over
Entrepreneurs by The Smart CEO Magazine in February 7500 members in 65 countries.
2017. With over three decades of experience in Banking, Organi-
Also last year, EPS received an international award as the zation Development, Payment Systems and ATM
Fastest Growing Indian Company Excellence Award for Outsourcing & Shared Networks, Mani is known as The
Outstanding Achievements on Global Business Opportunities Architect behind Indian ATM Systems and was honored
with the Entrepreneur of the Year 2015 award by Silicon
at the 8th International Achievers Summit 2016 in Thailand.
India in December 2015.
This acclaimed global appreciation was lauded across

Aadhaar not mandatory for PAN in North east, J&K
Residents of Assam, Jammu & Kashmir, Meghalaya, Non-Resident Indians, foreigners or any citizen above 80 years of
age have been exempted from mandatory quoting of Aadhaar while filing income tax returns or to obtain a perma-
nent account number (PAN). There is a pending suit in the Apex Court challenging the mandatory use of Aadhaar for
PAN or to file tax returns.

Demonetisation effect: 9.1 million new taxpayers

As an impact of demonetization, 9.1 million new taxpayers were added in 2016-17. It amounts to 80% increase over
the typical yearly rise and it is expected to significantly boost the government's tax revenue. India had 55.9 million
individual taxpayers at the end of 2015-16 as not everyone who pays tax files returns. Many assessees are salaried
employees whose tax is deducted and paid by the employers. Launching a new website on 'Operation Clean Money',
a programme to bring illegal wealth on the books, Finance Minister Mr. Jaitley mentioned that demonetization had
given a push towards digitization and led to an increase in the number of assessees and tax revenues.

42 | 2017 | JUNE | BANKING FINANCE

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