Tuesday, October 27, 2026
Home Blog Page 514

Sebi amends mutual fund rules

0

The definition of “associate” has been removed from the mutual fund regulations by Sebi to apply to sponsors who make investments on behalf of insurance policy beneficiaries. The Securities and Exchange Board of India (Sebi) announced in a notification that the new rules would take effect on September 3. 

The proposal was approved last month by the board of the regulator.

“The definition of associate shall not be applicable to such sponsors, which invest in various companies on behalf of the beneficiaries of insurance policies or such other schemes,” the regulator said.

Under the rules, associate includes a person who directly or indirectly, by himself, or in combination with relatives, exercises control over the Asset Management Company (AMC) or the trustee, among others. 

At present, there are 43 mutual fund houses, which together manage assets worth nearly Rs 38 lakh crore.

Northern Arc Capital bags US $25 million from Proparco

0

Northern Arc Capital announced that it had completed a transaction with Proparco for an External Commercial Borrowing of USD 25 million. 

Northern Arc will use the proceeds to support women business owners and MSMEs, especially in the next billion people. The funds obtained will be applied to giving these clients both direct and indirect differentiated credit solutions. 

The project qualifies for the 2X Challenge, a worldwide gender finance effort to which Proparco has contributed since its launch in 2018 because of the major impacts it has had on women entrepreneurs. The Project also addresses 3 SDGs: SDG 8 (Decent Work and Economic Growth), SDG 5 (Gender Equality) and SDG 10 (Reduced Inequality).

For almost 21,000 microborrowers and MSMEs in India, the Proparco grant will boost access to lending. According to estimates, the project will assist in the retention of 34,000 jobs.

“We are excited to partner with Proparco to cater to the diverse financial requirements of the next billion and emerging segments. The usage of proceeds will be towards enabling the next billion customers access financial services directly through digital channels as well as serving them through partnerships,” said Ashish Mehrotra, MD & CEO of Northern Arc Capital.

Over the past three years, Northern Arc has raised money from a variety of reputable international investors, including USDFC, ADB, FMO, Calvert Impact Capital, and JICA.

“Northern Arc’s mission to enable access to finance for the underbanked in an efficient, scalable and reliable way is in line with Proparco’s Financial Inclusion strategy in India. Northern Arc’s role as a bridge between originators serving financially excluded customer segments and debt capital market with the use of technology creates multiplier impacts.” said Ms Diane Jegam, Regional Director – South Asia, Proparco.

Walmart to cut hundreds of corporate jobs 

0

“We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” Walmart spokesperson Anne Hatfield said.

The Wall Street Journal reported on Wednesday that Walmart Inc. is restructuring its organizational structure and cutting hundreds of corporate roles. 

According to the WSJ, 200 jobs will be lost. It also stated that the retailer notified employees at its corporate offices and headquarters in Bentonville, Arkansas, of its reorganization plan. 

As global economic growth slows due to increasing interest rates, inflation, and a European energy crisis, some companies, including Tesla Inc, Netflix Inc, and Coinbase Global Inc, have also started laying off employees and delaying hiring.

The company is making investments and adding employees in the technology, health, and wellness, as well as eCommerce industries, she added.

In response to rising food and gasoline prices, the American retailer last week lowered its profit forecast, claiming that price reductions were necessary to reduce stocks.

Consumer spending for clothing, home goods, appliances, and kitchenware has reduced due to rising food and gasoline prices, leaving businesses with mountains of unsold inventory.

Radisson Blu Hotel & Spa Nashik unveils its dining outlets

0

Radisson Blu Hotel & Spa Nashik has unveiled its culinary masterpieces, including highly curated menus and food pop-ups. The distinctive restaurants have been thoughtfully designed for a sought-after culinary experience. 

The Smoked Vine, the hotel’s multi-cuisine and interactive theme restaurant, The Tuscan Room, the fine dining Italian restaurant, and Le Bistro, the Parisian-themed café, are the three different food and beverage spaces featured by the hotel.

Commenting on the launch, Gopinath Gopalan, General Manager of Radisson Blu Hotel & Spa Nashik says, “Nashik is known as the wine capital of India and is also a prominent tourist hub known for spiritual and scenic spaces. Radisson Blu Hotel & Spa Nashik promises to present a unique culinary experience within its luxury landscape. Our team of Chefs have created menus and offerings that are experimental with a focus on organic ingredients.”

The Smoked Vine serves a fusion of international foods, including Asian woks, Robatayaki grills, Vinewood-fired pizzas, and a diverse dessert menu. Long glass windows that overlook lush foliage and a live interactive kitchen give the restaurant a lively atmosphere. The Smoked Vine is well-known for its Sunday brunch and offers a lavish buffet. 

The Tuscan Room is an experiential Italian cantina that serves modern Italian delicacies made with the finest ingredients sourced from Italy and is influenced by the country’s long-standing traditions and culinary culture. There are wine cellars stacked with Tuscan wines from Antinori, Masseto, and Tenuta San Guido in the opulent interior and artistically decorated restaurant.

With freshly brewed teas, coffee, and savoury foods, the Parisian Café, Le Bistro is a patisserie and delicatessen. For visitors looking for a take-away alternative, the freshly baked goods and handcrafted cakes are perfect. For talks over a cup of coffee, Le Bistro’s Alfresco area is the perfect setting.

Y Combinator reduces its startup batch size by 40%  

0

As venture capital funding dried up due to the global economic slowdown, Silicon Valley-based startup accelerator Y Combinator reportedly reduced its summer startup batch by 40%.

According to The Information, Y Combinator has “cut the number of startups it is funding and training this summer by about half compared to its winter programme”. 

The Y Combinator’s Summer 2022 cohort now has nearly 250 companies, down 40% from the previous class which had 414 startups.

“The downsizing also follows mounting criticism that Y Combinator had grown too large, damaging its reputation for churning out Silicon Valley’s best startups,” the report said late on Tuesday. 

Y Combinator’s head of communications, Lindsay Amos, confirmed the reduction over text message, saying that the batch is still large “relative to the last five years of batches.”

“The S22 batch is significantly smaller than our most recent batches. This was intentional,” according to the company. 

In May, the accelerator had advised its portfolio founders to “plan for the worst.” 

In an internal email to its founders, the company stated that “you can often pick up significant market share in an economic downturn by just staying alive”. 

A recession that is approaching and a funds shortage will only make the situation worse. 

Numerous major venture capital firms, including Sequoia Capital, Lightspeed Venture Partners, Craft Ventures, and Y Combinator, have sent memos and footnotes to their portfolio companies and startups with advice on how to survive the current crisis. 

The worst has yet to come for the tech sector, which has experienced a large stock sell-off, as more than 32,000 tech professionals were laid off in the US up to July of this year, including at Big Tech companies like Microsoft and Meta (previously Facebook).

Citigroup to 500 hires for new wealth unit

0

According to an interview with the global head of the new wealth division, Citigroup Inc. plans to hire 500 people over the next three years. 

The bank started the unit, known as Wealth at Work, last year and tapped longtime private-banking executive Naz Vahid to oversee its development. Vahid has spent years leading the private bank’s law-firm group, which counts 50,000 lawyers and 1,000 firms as clients.

“We acquire clients when they have more debt than money,” Vahid said. “We get them when they’re early in their careers, when they’re not yet wealth clients, and they’re extremely busy individuals,” she said, adding, “We get them young, and we keep them.”

Vahid’s division is a critical unit of Chief Executive Officer Jane Fraser’s plans to remake Citi into a wealth-management powerhouse. The business generated $353 million in revenue in the first six months of the year — a 3% jump from a year earlier — and was the only one of Citigroup’s wealth operations that posted an increase for the period.

upGrad buys Noida-based test prep provider Exampur 

0

Higher edtech platform upGrad announced that it had acquired Exampur, a company that provides test preparation for government jobs, for an undisclosed sum. 

Exampur, a learning platform based in Noida, aims to make Rs 70 crore (almost $7.5 million) in revenue this fiscal year. 

Over 10 million students use the site, which was co-founded in 2018 by Vivek Kumar and Vardan Gandhi.

“We’ve created an integrated learning portfolio for our learners, and within that matrix, we see test-prep as a high potential growth driver,” said Gaurav Kumar, President, Corporate Development, upGrad. 

“I’m confident that their day-on-day live delivery capabilities with 200+ teachers through its channel are set to redefine vernacular learning for a larger base of youth,” Kumar added. 

Exampur provides more than 200 test-prep courses for state-level government jobs, with the majority of the information being given through its YouTube channels for the UPSC, SSC, defence, banking, and teaching positions. 

With an average viewership of 2.5 million students, Exampur has a cumulative subscriber base of over 12 million and is still expanding.

90% of paid users of Exampur are from tier 2, 3 and 4 markets.

“We want our learners to walk that extra mile to understand the key to cracking such competitive exams, and this is where we have created a hybrid learning model through our digital presence,” said Kumar and Gandhi. 

Exampur also offers online test series, free quizzes and live scholarship tests.

Professionals with super-niche skills high in demand: Report

0

Skills like Data Analytics, Java Technologies, Cloud Infra Technologies, Full Stack Technologies, and UI & UX Data are among the top skills with the most intent of hire, according to a report by Quess Corp.

The company Quess was founded in Bengaluru in 2007 to provide business solutions. The data is derived from the algorithm that links and matches all applicants to open positions for April-June 2022 in the company’s application tracking system. 

According to the report, Hyderabad (30%) and Bengaluru (40%) have the most demand for data analytics, while Pune (40%) and Bengaluru (40%) have the highest demand for Java technologies (25%).

On the other hand, the report revealed that Cloud Infra Technologies was most popular in Bengaluru (60%) and Chennai (15%) among the top digital skills, followed by Full Stack Technologies across Bengaluru (72%) and Pune (14%), and UI & UX across Pune (52%) and Bengaluru (24%).

Vijay Sivaram, the CEO of Quess IT Staffing, said, “While there are seeming headwinds in the tech hiring market, certain skills continue to be high in demand such as Full Stack and Data Analytics roles. As organisations continue in their digital and cloud transformation journeys, we are witnessing a hiring uptick in the same. Startup hiring is in moderation, however, on the other hand, India continues to see growth in captives, particularly in tech and R&D.”

In terms of city-wise hiring demand, Hyderabad had maximum demand of 34%, followed by Bengaluru (33%), Mumbai (12%), Pune (9%) and Chennai (5%).

According to the report, other cities including Ahmedabad, Kolkata, Bhubaneshwar, and Jaipur have also seen a growth in demand for digital skills.

The report indicated that the top five industries reflecting voluminous demand curves include Products (22%), Automotive & Engineering (11%), BFSI (11%), Telecom (11%), and Consulting (9%).

How does a traditional advertisement transform into a modern brand story – the changing face of advertising

0

A story with surprising plot twists leaves a lasting impression on the audience, and they are never the same after hearing it. It contains emotions, which are a vital piece of storytelling, and they are interwoven into a story to connect the mind and heart so that the audience remembers them.

Storytelling has been used as a powerful technique for instilling positive values, culture, and principles and fostering positive perspectives. It applies to people’s personal and professional lives since it shapes and strengthens their opinions and values, allowing them to live extraordinary lives. 

Stories are inextricably linked to people’s daily lives. It helps individuals in locating truths and connecting them to their surroundings. Traditional advertising mainly focuses on delivering commercial messages to mass audiences. However, in recent years, business leaders have been widely using storytelling to influence, teach, and inspire their employees and customers. Customers can have a deeper understanding of the experiences shared and remember the facts when there is an emotional connection in a story.

So let’s delve into how brand storytelling works much better than traditional advertising.

Making a brand memorable: Most organizations have learned that focusing on offering more unique products and services is no longer adequate. They acknowledge that the market is vast, and they want to stand out. 

Storytelling is one of many strategic techniques that makes a brand more memorable than traditional advertising. Because stories can’t be mimicked, articulating the brand’s story, filled with history, struggles, victories, and morals, makes the brand unique. It’s not about the product’s features, facts, or figures, which might be lost in today’s digital era when people are exposed to a massive amount of content daily.

The brand story streamlines facts while emphasizing triggering an emotional response. According to research conducted by Headstream, a leading UK content marketing agency, individuals who like a brand story are 55% more likely to buy the product in the future, 44% more inclined to share the story, and 15% more likely to buy the product instantly.

In the 1990s, De Beers’ advertising with the memorable slogan “A Diamond is Forever” made such an impression that no wedding would be perfect without a diamond ring. The brand also closely connected diamonds to individuals through commercials, as a diamond is the ultimate symbol of everlasting love. De Beers’ advertising enriched brand popularity while making the brand more memorable than facts.

Creating an emotional connection: Surprises are a significant element of emotional storytelling, and they are always featured in successful brand stories. Traditional advertising mostly displayed facts, statistics, and information about the products or services. On the other hand, the brand story always drives action to trigger a response from the audience.

Knowing an audience’s pain points and coming up with a solution is an important message in brand stories that makes them powerful. This is how the emotional connection between the brand and its customers is developed. However, this magical moment will only happen if brands consider what their audiences genuinely require from them.

John Lewis, a UK-based department store chain, is renowned for creating emotional and engaging ads. For example, John Lewis’s 90-second spot, ‘Monty the Penguin ‘released in 2014, tells the story of a friendship between a little boy, Sam, and his penguin friend, Monty. The story in that advertisement expressed a deep sense of love, which was emotional. 

In the first 24 hours after its release, the advertisement was viewed over 7 million times online, and a soft toy version was soon available for purchase in stores. Over the holiday season, John Lewis witnessed a 4.8% profit gain and sold over 48,000 stuffed Monty and Mabel’s, Monty’s girlfriend.

Making a brand more human: Compared to traditional advertising, brand stories stand out since they humanize the brand rather than address it as a product. The stories show how the brand continues to improve people’s lives and adds value to them and society. 

To put it another way, a successful brand must be a value-based business. This signifies that the brand performs its responsibilities to fully understand the company’s impact on both humans and the environments in which it exists and to do all possible to mitigate it.

IKEA, a home furnishings brand from Sweden, engages with partners, coworkers, and consumers to address concerns such as unsustainable consumption, climate change, and rising inequality. It promises to utilize exclusively renewable or recycled materials, evaluate resources holistically, and be climate positive by 2030. 

IKEA claims that 99.5% of the wood used in its products is certified by the Forest Stewardship Council® (FSC®) or recycled. In addition, the brand is dedicated to developing products and services that encourage and enable individuals to adopt healthy lifestyle transformations, buy in a more circular pattern, and live better lives overall.

Storytelling is not a recent idea, even though it is rarely used nowadays. However, the new concept of “Conscious Consumerism,” which entails shopping in ways that one believes have a good social, environmental, or economic impact, is gaining popularity, and brand ethics are becoming more critical. 

Nowadays, every brand must be transparent with its consumers. Storytelling makes the brand more realistic and engaging, allows the audience to connect with a sense of belonging, encourages brands to prove that they care about their consumers, and, ultimately, helps them to reach out to an audience they may not have achieved before.

Chargebee’s SaaS suite seeks to help clients earn more 

0

Software-as-a-Service company Chargebee has released a bunch of products aimed at helping companies mine more revenue from their subscribers, amid signs of pricing pressure faced by high-growth companies and demand softening in the US economy.

Brightback, numberz, and RevLock were three purchases Chargebee acquired in the past 18 months that it turned around for its customer retention suite. These acquisitions were made in the subscription and cash flow management arena.

In response to concerns about the US economy slowing down and venture investors frowning at valuations previously agreed upon and startups agreeing to raise capital at lower valuations, businesses have started settling down on their client acquisition costs. The product helps businesses focus on keeping the customers they already have, at a time when both businesses and consumers are being forced to evaluate everything in their portfolios and make difficult decisions, cofounder and COO Rajaraman Santhanam said.

“We all know it’s very difficult now to acquire new customers as opposed to keeping existing customers. Our new products help companies retain their customer base and keep the cash flow going,” he said.

Business-to-business SaaS companies, according to entrepreneurs, are in a stronger position than consumer-facing Internet companies, which have had to spend a lot more money on customer acquisition. However, all companies may need to take a fresh look at their fundamentals shortly, according to Siva Rajamani, CEO of sales automation platform Everstage.

“Companies will have to re-look at their marketing spends closely in the near term as they wait and watch how American businesses decide on their spending.” However, Indian SaaS entrepreneurs say the bet is still strong on the country’s SaaS ecosystem on its robust fundamentals — high margins and software products that are sold through Internet-based marketing channels.