Launched in 2014, PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 830 posts, we featured an art festival, cartoon gallery. world music festival, telecom expo, millets fair, climate change expo, wildlife conference, startup festival, Diwali rangoli, and jazz festival.

Bengaluru’s Museum of Art and Photography (MAP) wrapped up its 2024 calendar of activities with the weekend festival, Art is Life: New Beginnings. See our coverage of two years of exhibitions at MAP here.

The museum and its galleries now constitute an established hub of creativity for the bustling city, with engaging experiences across music, photography, sculpture, paintings, textiles, ceramics, and other visual arts. Community and educational activities include storytelling, workshops, expert talks, and curated walkthroughs.

“Bengaluru has embraced MAP in ways I could never have imagined. We’ve learned so much along the way as we work to take the institution to the next level,” said MAP founder Abhishek Poddar, in a conversation with actor and Rangashankara founder Arundhati Nag.

Unveiled to the public on February 18, 2023, MAP aims to ignite creativity and connect people through innovative experiences and meaningful dialogue. The focus is not just on tradition and heritage, but on contemporary forms of engagement such as digital platforms.

In this photo essay, we feature some highlights from the 2024 festival as well as crafts and artworks from the exhibitions The Forgotten Souvenir (mica paintings by Indian artists during colonial times), Visible/Invisible (representation of women in art) and Chay Reds, Ferrous Black (stories of Indian trade textiles in Sri Lanka).

There were workshops on traditional block printing (by Tharangini Studio), crochet (by Crafty), and film poster design (by Anand Tharaney). Digital tools helped create new experiences for visualising MAP’s textile collection by projection onto a giant mirrored surface.

The early days of music technology were captured in a vinyl listening session by Arumugam Murugan, transporting audiences to a different era. Other sessions addressed AI and art (by Tara Kelton) and immersive sound (Farah Mulla and Fidrat Yildiz).

There was a screening of the award-winning film Madhyantara, and a discussion with filmmaker Dinesh Shenoy. Some of Bengaluru’s oldest photo studios shared anecdotes and images capturing the transformation of the city.

A particularly engaging panel addressed the various microcultures in Bengaluru with diverse hobbyist groups. Speakers from the Bangalore Astronomy Club, Playful Pursuits, Bang Birds, and Karnataka Quiz Association shared highlights and tips from their journeys in community building and knowledge exchange.

MAP has forged a range of art connections with like-minded museums around the world. The festival featured two screenings of Museums Without Borders, a digital collaboration with the National Museum of Asian Art and the Cleveland Museum of Art.

Karnataka’s rich cultural heritage was showcased through folk performances of Yakshagana, Somana Kunita, and Kamsale. The festival’s climax was a concert by award-winning multi-lingual singer Rekha Bharadwaj, who drew a packed house despite the heavy rains outside.

One of the endearing aspects of the festival was the animating presence of sign language interpreters from ASLI (Association of Sign Language Interpreters). They even interpreted music performances in sign language, drawing wide appreciation from the entire audience and highlighting the importance of hearing, which most people take so much for granted.

“This year, we focused on creating spaces for connection, dialogue, and joy. The overwhelming response has reaffirmed our belief that art truly belongs to everyone,” Poddar signs off.

Now, what have you done today to pause in your busy schedule and harness your creative side for a better world?

(All photographs were taken by Madanmohan Rao on location at MAP.)

Launched in 2014, PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 830 posts, we featured an art festival, cartoon gallery. world music festival, telecom expo, millets fair, climate change expo, wildlife conference, startup festival, Diwali rangoli, and jazz festival.

The India Art Festival (IAF) wrapped up its fourth Bengaluru edition this month at the Palace Grounds. See our coverage of the previous two editions of IAF Bengaluru here.

Founded in 2011 as a business platform for the arts community, IAF’s four-city tour now includes Mumbai and Bengaluru in late 2024, with Mumbai and Hyderabad in early 2025. The art fairs in each city offer opportunities for emerging artists as well as galleries.

“Footfalls at our fourth Bengaluru edition were around 16,000. The artists and galleries reported good sales as well. The overall feedback for our curated show has been very encouraging,” IAF founder and managing director Rajendra Patil tells YourStory.

One of the highlights this year was a special showcase titled Shaping Horizons: Karnataka’s Iconic Innovators. Curated by Prof. KS Appajaiah, it featured the works of 30 distinguished artists such as SG Vasudev, Gurudas Shenoy, MS Murthy, Sudha Manohar, Hemavathi Umamaheswar, and others.

There were also live painting sessions by renowned artists P Gnana, Manjegowda, and Eby Joseph. The music showcase featured performances by Subramanya Hegade (sitar), Prasanna Ballal (mandolin), Shrinidhi Katti (flute), and Sandeep M (tabla).

Exhibiting galleries based in Bengaluru were Space Edge, Sara Arakkal Galerie, Shiny Colours Art Gallery, ReIGNITE EdTech, Akanksha Art Gallery, iArt Gallery, ASR Art Studio, and Gallery Charvi.

“Art teaches you to slow down and appreciate the little joys of life. It tells you that despite everything going wrong, there is still hope,” explains Bengaluru-based artist Susan Mary Halfhide, who is also a designer and hospitality professional.

She had painted more than a hundred pet portraits before she started exploring subjects closer to her heart. She began exhibiting at IAF only recently, in Hyderabad and Bengaluru.

“My work was recently shortlisted and displayed at the second IWS Olympiart this December in Delhi,” she proudly says. Her artworks are usually priced from Rs 30,000 to Rs 1.5 lakh.

Artist Isha Valentine explains that art is driven by experiences that compel artists to create. “It doesn’t necessarily need to invoke a positive emotion but a compelling one,” she says.

As a professional artist, she has created over a hundred artworks, mostly themed on nature. With a background in literature and design, she has exhibited at the past three editions of IAF Bengaluru.

“I also exhibited in group shows in Mumbai and Pune, and internationally in Melbourne and Venice,” Valentine adds. Her artworks are priced from Rs 5,000 to Rs 3.5 lakh.

For Ria Aboobakar, an artist and HR expert, art is a way of expression and connection with the world. “Art is about capturing emotions, telling stories, and exploring the beauty and complexity of life,” she says.

“My journey has been a continuous learning experience. I’ve created more than 200 artworks over the last 30 years, and have had solo exhibitions at Sublime Galleria, World Art Dubai, and IAF,” she proudly adds. Her artworks typically range in price from Rs 20,000 up to Rs 2 lakh.

Coimbatore-based artist Sathya Gowthaman is deeply influenced by the carvings in Tamil Nadu’s Dravidian temples, especially Chola bronzes. She has exhibited at art fairs in India, Dubai and Singapore, with artworks priced from Rs 12,500 to Rs 3 lakh.

“Art helps in educating people about their past, reflecting on traditions, and uniting cultures. It helps artists as well as viewers relax and get over their stress. Art can also be used as a vehicle for social change,” she explains.

For Hyderabad-based artist Annarapu Narender, art is the creative expression of emotions and capturing of mood nuances. It is a reflection of the soul and a powerful tool to evoke and connect feelings.

“Art plays a critical role in society, especially in today’s uncertain and conflict-ridden world. It serves as a medium for dialogue, a source of solace, and a bridge between diverse cultures,” he affirms.

“Art inspires empathy, challenges perspectives, and reminds us of our shared humanity,” Narender signs off.

Now what have you done today to pause in your busy schedule and harness your creative side for a better world?

(All photographs were taken by Madanmohan Rao on location at IAF Bengaluru.)

The Indian fintech space has grown into one of the world’s largest ecosystems, bringing numerous innovations that have made payments and financial services accessible to millions. 

However, these advancements have also come with considerable challenges. Internet and card-based banking frauds quadrupled in FY24, according to an annual report from the Reserve Bank of India (RBI).

The RBI’s supervisory returns reveal a staggering 29,082 instances of credit/debit card and internet-based fraud in the financial year 2023-2024—an alarming 334% increase compared to the previous fiscal year, which reported 6,699 such instances. Clearly, measures to address these issues were urgently needed.

Regulatory crackdowns and their impact

In January, Paytm Payments Bank faced significant regulatory action when it was barred from onboarding new customers and forced to halt all banking services due to non-compliance with Know Your Customer (KYC) norms. 

The move had a dramatic impact on Paytm’s stock, which plummeted immediately and bottomed out at nearly Rs 317 per share over the following months.

“It created great urgency among fintech players to get their systems in line,” said a fintech investor on the condition of anonymity. “It was a reminder that compliance is non-negotiable, no matter how big you are or how many customers will be affected.”

The RBI’s directive also forced Paytm Payments Bank to cease onboarding new UPI customers and freeze key payment services, significantly impacting its market position. However, in October, the company received approval from the National Payments Corporation of India to resume UPI registrations, regaining a crucial growth lever.

Since then, Paytm has made a full recovery from January’s regulatory setbacks. Its shares, on December 27, were trading at over Rs 990 per share, erasing the losses triggered by the RBI’s sanctions earlier this year. 

Peer-to-peer lending under scrutiny

Paytm was not the only company to face regulatory action. The RBI revised its framework for non-banking financial companies facilitating peer-to-peer lending (NBFC-P2P) to curb malpractice and enhance transparency in the sector.

The updated regulations prohibit NBFC-P2Ps from assuming any credit risk, either directly or indirectly. Previously, platforms were not allowed to provide credit enhancement or guarantees, but the revised guidelines go further, ensuring that lenders bear the full risk of principal and interest loss.

Startups like LenDenClub and IndiaP2P quickly adapted to the new regulations by introducing updated features and processes. However, other players have struggled to adjust. Cred and BharatPe, for example, have put all new P2P investments on hold.

Investors, too, have felt the impact. MobiKwik Xtra, a P2P lending service managed by NBFC-P2P Lendbox, previously promised anytime withdrawals. However, following the RBI’s crackdown, Lendbox halted all secondary sales, forcing some investors to wait until 2026 to access their funds.

“This year has been nothing short of transformative for the P2P lending industry,” said Bhavin Patel, Founder & CEO, LenDenClub.

“Regulatory reforms like these are crucial—they may seem challenging in the short term, but they pave the way for long-term innovation and growth. These changes are a win for everyone—platforms, lenders, and borrowers. However, a few of the points are truly restrictive and discouraging innovation,” Patel added.

Lending practices under fire

In October, the RBI took action against DMI Finance and Navi Finserv due to concerns over their pricing policies. Sources indicate that Navi’s interest rates, which were as high as 35%, were a key point of contention.

Many digital lenders criticised the move, questioning why NBFCs were being targeted while credit card companies charging similar or higher interest rates were left untouched. They argued that interest rates and fees are already required to be fully disclosed to customers under an RBI mandate issued in February.

The RBI lifted restrictions on Navi Finserv earlier this month, allowing the NBFC to resume loan sanctioning and disbursal activities.

“In the evolving regulatory environment, it will be important for fintechs to balance innovation, put in place robust risk management strategies and adhere to regulatory guidelines, thereby helping customers build trust in digital financial solutions,” said Akshay Mehrotra, Co-founder & CEO, Fibe, a fintech firm.

Self-governance

While some critics argue that RBI’s approach is too heavy handed, it has also paved the way for more self-governance.

In May 2024, the RBI introduced a framework for establishing self-regulatory organisations in the fintech sector. The initiative aims to balance innovation with safeguards for customer protection, data privacy, and cyber security while promoting self-governance among fintech entities. 

Self-regulatory organisations are envisioned to set industry standards, ensure compliance with laws, and act as neutral bodies to resolve disputes within the fintech community. By fostering a culture of accountability and collaboration, the framework encourages fintech firms to voluntarily align with ethical and operational best practices.

On August 28, the RBI announced that the Fintech Association for Consumer Empowerment had been recognised as the first self-regulating organisation in the Indian fintech sector.

“This growth [of the fintech sector] is bolstered by various regulatory initiatives, with the Fintech self-regulatory organisation playing a pivotal role in shaping the sector. It will promote a culture of collaboration between the regulator and industry players and help improve self-regulation and compliance within the industry,” said Mehrotra.

“Besides, it will further create a more transparent ecosystem, ensuring consumer protection. As we move forward, three pillars—self-regulation, risk management, and customer education—will remain central to building a more inclusive, resilient, and innovative digital financial ecosystem.”