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Flipkart Wholesale, the digital B2B marketplace of the Walmart-owned company, on Tuesday announced a new credit programme to help kiranas manage their working capital requirements and grow their business. Flipkart Wholesale Through these new offerings, kiranas (neighbourhood mom-and-pop stores) can avail credit at zero cost through end-to-end digital onboarding in partnership with IDFC FIRST Bank and other fintech institutions, it added. The credit line will range from Rs 5,000 to Rs 2 lakh with an interest-free period of up to 14 days. Adarsh Menon, senior vice-president and head of Flipkart Wholesale, said the key goal for the company is to make business easier for kiranas and retailers and boost their growth journey. Flipkart Wholesale serves over 1.5 million members across the country that include kiranas\/retailers, HoReCa (hotels, restaurants and cafeterias) and OI (offices and institutions). This traditional trade is now evolving in terms of retail formats and business models. The partnership with Flipkart gives the bank an opportunity to enable kiranas to access formal credit and scale up business, he added.
GroupM The mandate includes paid search, display, video, OTT, programmatic and e-commerce duties. The account will be handled out of m\/SIX With our proficiency and our DNA The dairy FMCG space has seen phenomenal growth and evolution and with our business growth and consumer-centric approach, we will ensure to deliver successful brand and business results for Parag Milk Foods. We look forward to partnering with the brand in this exciting journey, According to Akshali Shah, senior vice president, strategy, sales and marketing, Parag Milk Foods, the Indian dairy industry is growing consistently and is transforming at a great pace. In the new normal, every brand needs to adopt a different approach to brand building and innovation, which is why we see m\/SIX as a strategic partner that understands our brand and our vision to further meet our marketing goals. We are confident that the m\/SIX team will continue to drive our brand to newer heights, m\/SIX is a media agency with over 40 offices worldwide, and is backed by WPP, the communications agency network. m\/SIX specialises in driving business growth in the modern media landscape and helps clients transition from a world of certainty to a new world of adaptability. Its clients include Emami, Whitehat Jr., Valvoline, Veeba Foods, KRBL Limited, Tata Mutual Fund, Revv Cars, Lovely Professional University, SonyLiv, Nilon Read Also: Chimpz Inc bags social media mandate for The Derma Co. Follow us on Twitter,Instagram,LinkedIn,Facebook
Sharda University has announced a range of women-empowerment schemes as a tribute to the founding mother Sharda Devi Gupta on her second death anniversary in the prayer meet organized on Wednesday, September 1. On this occasion, Chancellor PK Gupta started The same scheme has created further new opportunities for the education and upliftment of girls, so that women can be empowered with better opportunities in education. Apart from education we are also providing different skills and rights to our students, doctors and nursing staff and provide day to day training to them for the upliftment of their own personality and for society too. He said that Sharda University is the first private university in Greater Noida to get approval for a Girls battalion i.e., 31 UP Girls Bn (SW) NCC, providing girls with an exclusive opportunity to pick up leadership skills and challenge themselves for enduring physical activities and adventure. On this occasion Pro Chancellor YK Gupta said we are expanding our treatment in smaller towns near Noida and Greater Noida and avail free health checkup camp facility and education at cheapest cost to those families who cannot afford education for girls.
DIGITALISATION OF INDIA Subsequently, internet banking was approved in India, followed by the National Electronic Fund Transfer (NEFT), Real-Time Gross Settlement (RTGS), Immediate Payment System (IMPS), etc. In 2017, GST was introduced with an ancillary motive of formalising the economy. In recent times, India has started adapting to the Unified Payments Interface system. Very soon, the B2C invoicing for businesses with a turnover of more than Rs 500 crore will have dynamic QR codes for customers to pay at a click of a button directly. Long story short, digital transformation is sweeping boldly across the economy, taking us from Cygnet Infotech is doing its bit in helping businesses on their digital journey. Its solutions approach digital transformation holistically; they are simple, fast and future-proof. Even during the pandemic, we were able to retain clients and added several new clients. Its offerings range from IT services, technology products, and tax technology solutions. Cygnet Infotech This allows companies to manage their invoices without errors and supports tax data analysis, audit assessment, vendor digitisation, tax compliance tracking, and establish a systematic modern legacy system. The company also provides solutions such as digital transformation, product engineering, robotic process automation, test automation, digital e-signing solutions, and more since its inception. Many industries like pharmaceuticals, manufacturing, banking, etc. were able to ensure their document compliances are handled online through such electronic signing solutions, Cygnet Infotech There is robust encryption, secure data transmission, the ability to identify the signer, link the signer to the document, capture an irrefutable audit trail, blockchain, and protect the paper to protect tampering in the software. E-signatures ensure more secure, fraud-proof, and convenient than wet ink signatures. Almost two-decade-old now, this fast-growing firm has clients across 35 countries, works with Fortune 500 enterprise corporations, medium-sized businesses, fast-paced startups, and government organisations. As the company enters its 21st year, Cygnet Infotech has rejuvenated its logo, refreshed its brand fundamentals like brand promise and purpose, structured its sub-brands and endorsed brands. This exercise aimed to ensure that the brand remains most relevant to all Cygnet Infotech stakeholders, including clients, partners, current and future employees, and others.
Indians passport holders with tourist visa now allowed in UAE, but with riders: Here are the travel requirements Following curb in travel restrictions in the United Arab Emirates, Indian passport holders with tourist visas can enter its jurisdiction albeit with riders. The relaxations are applicable to several South-East Asian and African nations including India like Pakistan, Sri Lanka, Nepal, Uganda. Who can currently enter UAE from India Earlier only Indian citizens with valid residency permits are allowed to come to UAE, apart from transiting passengers. Now even tourist visa holders will be able to visit the country if they haven Conditions for travellers to UAE The requirements will vary for every emirate apart from the 14-day requirement. For travellers to Dubai, one will need an RT-PCR negative print copy of the report with a sample collected not before 48 hours of travel. A valid approval of the city Travellers might also be subjected to rapid antigen testing on arrival or within six hours of landing at the airport. Other countries that are opening up for travellers from India Apart from UAE, several other countries are opening doors for travellers from India or with Indian passports after closing border in the backdrop of the second wave of Covid-19. The UK has moved India from the Other European nations like Spain, Germany and France also have opened their borders for Indian travellers. Canada, on the other hand, is yet to allow direct flights to and from India but passengers can still travel indirectly through connecting flights provided that have negative RT-PCR report conducted not in India before they start their journey to the country.
Walmart-owned Flipkart on Thursday said it has strengthened its supply chain network in Karnataka with the addition of three new facilities ahead of the upcoming festive season, a move that is expected to help create over 14,000 job opportunities. The new fulfilment centres (warehouses) will help create deeper capabilities to support thousands of sellers, MSMEs, small farmers from the state to cater to the growing customer demand, create more employment opportunities while enabling faster deliveries for consumers, a statement said. These new facilities will serve sellers of large appliances, furniture, mobile phones, apparel and electronics and are located in Kolar, Hubli and Anekal, it added. Flipkart has nine supply chain facilities, including fulfilment and sortation hubs in Karnataka spread across nearly 23 lakh square feet area and has created more than 26,000 direct and indirect job opportunities. Fulfilment centres are specialised facilities where products are received from sellers across the region, processed and packed and then sent to sortation centres and delivery hubs for delivery to customers. The new facilities, collectively spread across nearly 7 lakh sq ft, have a storage capacity of 15.6 lakh cubic feet and will help more than 10,500 sellers. The expansion will further contribute to the state economy and create additional 14,000 direct and indirect job opportunities, as the sellers get national market access for their products, the statement said. The supply chain infrastructure expansion in the state including North Karnataka, will spur economic activity and create large scale entrepreneurship and employment opportunities in the state and we assure Flipkart of the full support of the government in its endeavour,? Pralhad Joshi, Union Minister Parliamentary Affairs, said while inaugurating the facilities virtually. Rajneesh Kumar, Chief Corporate Affairs Officer at Flipkart Group, said the companys endeavour is to create value for all its stakeholders as it onboards lakhs of MSMEs and small sellers. In this journey, we have invested in a tech-enabled supply chain network that is helping create thousands of direct job opportunities across the country, and also aiding indirect job opportunities in ancillary industries, he added.
By Siddharth Pai I am in New York City, meeting with founders of firms from the The range of firms working on hyper-focused B2C technology niches is astounding. Today I met with a firm that is trying to create a market in specialised chefs and wait-staff at city restaurants that are beginning to open their doors again. New York, as we all know, is a melting pot. Just a short walk takes one past restaurants that serve cuisine from Peru, Brazil, India, Mexico, Greece, France, Italy, Thailand, China, Malaysia The pandemic put many of these establishments out of business. As the US begins to return to normal, many of the specialised staff who once worked at these restaurants are still free agents. They are now open to Such hyper-specialised niches will only grow. Two, technology has drastically reduced the transaction costs for individual buyers and sellers, and allows them to directly work with one another. Earlier, both sides had no alternative but to go through a monolithic firm of the type that Coase described. Start-ups in India don Many Indian tech entrepreneurs have instead focused on Many entrepreneurs are focusing on creating multilingual While this is laudable, and while some such firms have even received significant funding, in my opinion theirs is not a business model that will last. Apart from the fact that plug-ins are already available to behemoths such as Google During the middle of the pandemic last year, an artificial intelligence lab in San Francisco called OpenAI revealed a technology that has been in the making for some time. This new system, called Generative Pre-trained Transformer 3 (GPT-3), learnt the nuances of natural language over several months It analysed thousands of digital books, and nearly a trillion words posted on the internet. GPT-3 is the output of several years of work done by the world Meanwhile, at Google, a system called Bert (short for Bidirectional Encoder Representations from Transformers) was also trained on a large selection of online words. It can guess missing words in millions of sentences, such as But GPT-3, which learnt language from a far larger set of online text than previous models, opens up many more possibilities. For most of today Unlike these, GPT-3 and Bert can be primed for specific tasks using just a few examples, as opposed to the thousands of examples and several hours of additional training required by its Computer scientists call this The real surprise from GPT-3 is that Systems Architects have been able to provide just a few simple instructions to let it even write its own computer programs. At a basic level, computer programs are English-like commands given to a computer in a logical sequence such that the commands produce a certain outcome after a computer acts on them. As such, GPT-3 Using these maps, GPT-3 can perform tasks it was not originally built to do. So far, OpenAI has shared GPT-3 with a small number of testers, since many kinks, including biases and profanities, need to be sorted out. That said, OpenAI scientists have claimed that As such new-age methods become more generally available, I would daresay that the smart way around the inevitable would be for such firms to focus their vernacular use cases on hyper-specialised marketplaces such as those that are springing up here in New York. The author is Technology consultant and venture capitalist (By invitation from New York)
Key takeaway: Voltas announced the Voltbek JV back in 2016-17 with a Rs 5-billion investment outlay. We viewed it as a material value creator only over four-five years, and now believe we are close to the turning point. Our ests factor Voltbek reaching PBT break-even by FY25E; we raise our FY22E-24E EPS by 2-5% to reflect reduced losses. Recent underperformance given weak 1Q AC sales is an opportunity to buy the stock, which should recover as festive season sales pick-up October onwards. Voltas Lounge just launched 5% and 3% market share in washing machine, and refrigerators and 30% share in dishwashers from naught in three years. Management has gradually leveraged its brand equity as a market leader in air-conditioners (ACs) to promote Voltbek. Combined effort is intensifying with Voltas launching its exclusive online website Independence Day special offers across both Voltas and Voltbek products were introduced which included cashback, easy finance schemes and extended warranty offers. Higher shelf space share with the product spread should help market share gains ahead as well. 153% revenue CAGR in FY19-21; 47% in our FY21-25E estimates: Refrigerators, washing machines, microwave ovens and dishwashers are the four major product lines for Voltbek. Addressable market size is approximately Rs 340-350 billion, with refrigerators and washing machines accounting for the bulk at 80%. Top three players (LG, Samsung and Whirlpool) have close to 80% share in refrigerators and 60-65% in washing machines, with the balance split between five and eight players. We have factored Voltbek5-6% among cross branding, promotional schemes, and rising dealerships. Management is aiming for 10% market share by FY25E. Voltbek is primarily an assembling unit and is gradually moving up the manufacturing value chain. Hence, we maintain relatively low gross margin estimates of 11-13% vs normal industry margins of over 18-20%. Dealer checks pointing to AC sales picking up: States have been easing lockdown restrictions as COVID-19 cases are receding. Onam sales have been strong, with dealers looking forward to Diwali driven festive sales October onwards. Pricing has been relatively stable, with limited promotional offers. Our 2QFY22E cooling segment sales estimate is up 20% YoY, which compares with 19% rise YoY in 1QFY22. Valuations\/risks: If Voltas can outperform peers in its segment and gain share, the stock should see premium valuations sustain. We believe Voltas is a good recovery play on both consumption and investment themes in India, with a strong B\/S to back it. Our revised PT of Rs 1,200 values the company at 45x PE FY23E (38% premium to 5-year average of 32.5x) and reflects the EPS revision. Downside risks: domestic AC demand collapses or national level lockdown comes through.
Finance Minister Nirmala Sitharaman on Monday announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways. She also said the asset monetisation does not involve selling of land and it is about monetising brownfield assets. Projects have been identified across sectors, with roads, railways and power being the top segments. NMP estimates aggregate monetisation potential of Rs 6 lakh crores through core assets of central government over the four-year period from FY 2022 to FY 2025, she said. Ownership of assets will remain with the government and there will be a mandatory hand-back. Asset monetisation will unlock resources and lead to value unlocking, she said. Union Budget 2021-22 had identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a National Monetisation Pipeline of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP. The aggregate asset pipeline under NMP over the four-year period is indicatively valued at Rs 6 lakh crore. The estimated value corresponds to 14 per cent of the proposed outlay for Centre under the National Infrastructure Pipeline (Rs 43 lakh crore). The end objective of this initiative is to enable infrastructure creation through monetisation wherein the public and private sector collaborate, each excelling in their core areas of competence, so as to deliver socio-economic growth and quality of life to the countrys citizens, she added.
Discus thrower Yogesh Kathuniya clinched a silver medal in the mens F56 event in the Paralympics here on Monday as athletics remained Indias happy hunting ground at the Games. The 24-year-old, a B.Com graduate from New Delhis Kirorimal College, sent the disc to a best distance of 44.38m in his sixth and last attempt to clinch the silver. On Sunday, India had picked up a silver (high jump) and a bronze (discus throw), which is on hold due to a protest. Son of an Army man, Kathuniya suffered a paralytic attack at the age of eight which left him with coordination impairments in his limbs. Brazils defending champion, reigning world champion and world record holder Claudiney Batista dos Santos won the gold with a best throw of 45.59m while Leonardo Diaz Aldana (43.36m) of Cuba took the bronze. In F56 classification, athletes have full arm and trunk muscle power. Pelvic stability is provided by some to full ability to press the knees together. He won a bronze medal in the 2019 World Para Athletics Championships in Dubai with a best throw of 42.51m which also booked him a Tokyo berth. It was during his time at the KMC that his potential was noticed by several coaches and he soon came under the tutelage of Satyapal Singh at the Jawaharlal Nehuru Stadium. A few years later, he came under the guidance of coach Naval Singh. He created a world record in F36 category in his first ever international competition in 2018 at the Para-athletics Grand Prix in Berlin.