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[NEW] spent the last few weeks reading earnings presentations and transcripts of 23 of India's most important financial services companies.
The result: 160+ slides, 100+ insights from 23 financial firms, compiled into a simple report.
Here's a quick snapshot of what I found:
Osborne Saldanha retweeted
@nikmilanovic unpacks Money20/20’s product launches and security questions.
@newsient follows the capital behind business finance and trading infrastructure.
@os7borne connects Asia’s record IPO with expanding payment networks.
The announcements, and why they matter. 👇
My view on this @ashleevance piece
it's not a silver bullet but AI agents are the best solution for regulatory/tax compliance. yes, yes, typical VC shpiel.
no person is ever going to get it right, including CAs. these things are changing all the time - notifications, form templates, old regime, new regime, etc. etc. it's easy to get wrong.
agents are the ideal solution because agents thrive on complex interfaces. I'd go so far to say that agents will be the default interface where complexity is high.
The EDF (Export Declaration Form) rules are now in effect, and it seems like RBI and banks have conspired to create a new hell. Or actually 5 hells.
I consult for an American company. Raised October invoice. Received the Inward remittance. And bang! Mail from @HDFC_Bank detailing everything needed before the payment can be processed.
Let me tell you what the 5 hells are:
1. The hell of confusion – RBI clarified last month that the EDF rules do not apply to individuals. But looks like they haven’t told the banks. And CAs also don’t seem to know. There’s no official communication on who is exempt. Last I checked, I was an individual. No company, no LLP. But HDFC still wants me to file the EDF to credit my payment.
2. The hell of complexity – See the attached pic of the form the bank has sent in excel. It has 5 sheets. To be filled and submitted. Some abstruse acronyms like “AD” - no clue what it means. Some fields are mandatory. Some fields are to be filled by the bank. No idea which is what. And it needs a physical signature. Which leads to...
3. The hell of paperwork - They also sent a pdf with a bunch of request letters. I’m supposed to choose the right letter, print, sign, scan and submit. Creating more paper today is incredibly silly. And, I suppose, someone in the bank will have to upload all this somewhere. Reminds me of those hand-filled immigration forms. Pointless.
4. The hell of repetition – At least for me, most of the details are constant. One client, one payment. If it’s a one-time exercise, fine. I’ll grit my teeth and get it done. But no. These details have to be given month after month. Else… no payment will be credited.
5. The hell of unpreparedness – It would have been simple enough for RBI or HDFC to create an online portal for this. With dropdowns, saved formats, contextual help, etc. to at least make this easy. But that would be too convenient, no? So, they’ve chosen to dump the entire burden on the taxpayer.
I have no opinion or understanding of why this is needed. Maybe it is critical information. Okay! But why make the process so confusing and painful?
And poor communication has meant that the banks have just passed on the pain to the exporter, and even CAs can’t help.
Basically RBI & HDFC feel I should consult less, and comply more. Maybe my client will also agree :)
Let’s go!
xitter.cf/os7borne/status/203413…
So long, Arc. It was good till it lasted
We've decided to sunset Arc on December 22, 2026.
That's not an easy sentence to write. We spent years building Arc and celebrating each and every release along the way: we have so much pride and love for what we made alongside the Arc community.
Our priority is to deliver best-in-class security for our members. Keeping a browser secure takes constant, dedicated work that is only increasing in the age of AI. Dia was built from the ground up to meet today’s security standards, so that's where our engineering and security teams will focus moving forward.
We've worked to make switching to @diabrowser as easy as possible for Arc members. Here's how:
· Your passwords, bookmarks, extensions and history come over to Dia seamlessly.
· Spaces, Folders, and Tab Groups are in Dia and import over with your data intact.
· Dia now surpasses Arc benchmarks in stability, speed, and security.
· The browser features you use in Arc are free in Dia, and the AI is optional.
Thank you for using Arc, for pushing us to make it better, and for building alongside us. The team that made Arc is the same team behind Dia, and some of our most ambitious work is just ahead. We'd love for you to be there with us when it lands.
Consulting firms need to stop asking guesstimate style questions.
Nowadays it should be evals.
Draft an eval to select the right coffee bean
Draft an eval to select the best bathing towel
Draft an eval to compare products and recommend the best value for money
I know of this happening inside large global banks/financial firms too. Their default is MS365 and copilot comes bundled. But the tech team gets to bring enterprise context with guardrails and rules for copilot, which every CISO loves.
Aside from being given AI usage targets, employees are actually preferring copilot compared to, sometimes, even the enterprises own AI tool. Most of them now swear by copilot.
I used to be a Microsoft Copilot hater. Then I had to learn it for real, inside a major law firm.
Nobody on X talks about Copilot. But a lot of lawyers will meet AI there first.
I started working with Ice Miller recently, a Copilot (M365 + Agent Builder) firm, through our joint AI lab with my law students at IU Maurer, and I had to actually learn it.
Three things are changing my mind a bit:
1. Its “weakness” is the feature. Copilot is less creative and pushes back on unconventional ideas - this use to bother me a lot and still does. But then I realized it does exactly what you tell it. I used to see that as a flaw. Now I see steerability: it drifts less, so you get more control and more accuracy. For a law firm, that’s not a bug. But it does demand high performance prompting - still rare in lawyers.
2. Clippy’s ghost is actually useful. Hit a guardrail and it doesn’t just refuse. It tells you what to do next. Ask for current research with web search off, and it doesn’t explain its knowledge cutoff. It tells you to turn web search on. That’s small, but most lawyers are still beginners, and it teaches as it goes.
3. The integration is the point. Not just searching your inbox. Scheduled agents in Outlook that brief you, flag things and prep you, set up for a specific matter or case, across Outlook, SharePoint and Teams. That’s all about showing up where lawyers already work instead of porting things into a frontier model.
One gripe: “agent” and “skill” don’t mean in Copilot what they mean elsewhere. In Agent Builder, I’ve found a skill file is almost redundant next to explicit custom instructions. Microsoft is reportedly changing that.
Today my students, who live in Claude, ChatGPT and Grok, start building inside a firm’s Copilot stack. That’s the real job: not picking the favorite model, but making the firm’s model work for them.
Osborne Saldanha retweeted
the silliest way to lose a lot of money in 2026 is to hold onto stupid priors for dear life
the second silliest is to make “safe” bets behind prestige vs. first principles evaluation of tech/business. if a company has fancy pedigree but is just losing…don’t fight the tape
Osborne Saldanha retweeted
Consider this 100% if you’re a smart generalist looking to shake things up before 2026 is over.
Imagine being the bridge between TON and top founders, understanding what their businesses are all about, working with zero micromanagement, and having a 24x7 creative outlet.
🚨 We're hiring: Guest & Network Operations at The Offline Network.
The Offline Network (@OfflineOnAir) is India's live tech + startup signal. We've hosted 400+ founders, investors and operators across 150+ streams, with guests from InMobi, Pixxel, upGrad, Peak XV Partners and many more.
Now we're looking for someone to help run the engine behind the show.
You'll have the keys to the kingdom. You'll help decide which founders we bring on, whose stories we share, and which conversations we put in front of India's tech ecosystem.
It's a high-ownership role spanning guest sourcing, outreach, scheduling, WhatsApp community management, network operations and occasional special projects.
We're looking for someone curious, ridiculously organised, great with people and genuinely excited about startups and technology.
You don't need an impressive résumé. But you do need initiative, good judgment and the ability to make things happen.
Immediate opening. Details on how to apply are in the creative.
Know someone who'd be great? Tag them or send this their way.
Check out the black board in the image.
osborne.vc/blog/human-connec…
Recommend reading @dens final words on closing down FourSquare. I still am a DAU for swarm, mostly because of my fondness for FSQ.
I would check in to places and look forward to the authentic reviews by other users. I still get excited when I steal mayor crowns from people.
teendrama.substack.com/p/som…
made my first apple pay transaction today. felt weird initially, but was smooth. might end up spending more than i did via UPI.
every time i think i'm a high agency person, i meet someone who makes me feel like i'm not high agency enough. humbling.
btw, the focussed/other folder (inspired by Outlook app), uses @typesafeai Jev to classify my emails into the folders.





























