Next two months, the open-source aggregator platform known as the Open Network for Digital Commerce (ONDC) will be launching insurance and mutual fund products. They will also be partnering with MasterCard for credit card processing.
Customers with and without salaries will be able to get unsecured credit through ONDC’s six-minute digital loans.
According to T Koshy, CEO of ONDC, “We have deployed a Marine app, one insurer and two more are coming.” “Even with health insurance, we’re in the game, but our partner isn’t licensed. The vehicle insurance is expected to be finalised within the following month. Plus, MF is scheduled to launch next month. We aim to complete 100-200 transactions before anything else,” he added further.
Although a debut date has not been announced, the aggregator platform is also planning to add credit card functionality to its existing range of services.
Loan in 6 Minutes
Accessible in as little as six minutes, ONDC’s new digital and paperless loans were launched on Thursday. Three lenders and nine buyer apps (often called LSPs) are part of the new offering.
Zyapaar, Indipe, Paynearby, Easypay, Paisabazaar, Tata Digital, Invoicepe, Cliniq360, and Indipe are among the buyer applications. Karnataka Bank, Aditya Birla Finance, and DMI Finance are among the lenders.
Economic Survey 2024
Since its launch in 2022, the number of transactions on the ONDC has soared above 68 million, according to the Economic Survey 2024. The number of transactions increased by 12% month-on-month to 9.95 million as of June 2024. According to Koshy, 12 million transactions were processed by ONDC in July.
To further emphasise that the ONDC network democratises access for all merchants and “prevents market concentration,” Koshy chimed in. He went on to say that the network ensures that every customer can receive the lowest price on any product or service.
According to Koshy, small businesses eventually go out of business because platforms favour big suppliers and customers. This phenomenon is known as the network effect.
About ONDC
Open Network for Digital Commerce (ONDC), a Section 8 company, was established on the 31st of December 2021. It is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry of the Government of India. The objective of this initiative is to develop a facilitative model that revolutionises digital commerce and increase the penetration of retail eCommerce in India.
A step towards the democratisation of digital commerce, ONDC symbolises a shift away from a platform-centric model, in which a small number of eCommerce companies control the industry, and towards an open, interoperable platform in which buyers and sellers can connect regardless of the platforms they are using. It is intended to move eCommerce away from walled gardens, which are ecosystems that are closed, compartmentalised, and highly stratified, and towards an environment that is more accessible and encourages competition, inclusivity, and innovation for businesses.
Intercity Legends, a Zomato service that brought famous food items from 10 Indian towns to customers all throughout the nation, will be shutting operations immediately. The service was momentarily halted and then reinstated in July with some adjustments to make orders more viable, but now it has been stopped.
According to a tweet by Zomato CEO Deepinder Goyal on social media site X (formerly Twitter), the company has chosen to immediately terminate the Zomato Legends service after two years of testing and failing to achieve product market fit.
Update on Zomato Legends – after two years of trying, not finding product market fit, we have decided to shut down the service with immediate effect.
It Is Not the First Time That Firm Opted for Shutdown
At a time when Zomato is branching into a variety of other competing sectors in order to increase revenue and consolidate its position in the market, Intercity Legends has been shut down. In the beginning, when Intercity Legends was first released in 2022, there was no minimum order threshold. However, in order to increase profitability, a minimum order value of INR 5,000 was implemented. Zomato determined that the initiative did not make any sense from a financial standpoint.
This is yet another service that Zomato has terminated; in the past, the company has also terminated previous trial programmes. The logistics service known as Xtreme, which was situated in Gurugram and enabled merchants to send and receive small packages, was cancelled by the corporation since it did not produce the results that were desired.
Zomato Legends at the Time of Launch
At the time when the intercity service was initially introduced, the corporation had a positive outlook on the offering. It is said that a jewel can be found in every nook and cranny of India.
“The sky is the limit to how big Intercity Legends can become,” the business had stated in a blog. “With over a hundred airports and a rich spread of the most iconic dishes that India has to offer, the number of possibilities is virtually limitless.”
In the meantime, Zomato is devoting resources and attention to other areas of the company. The meal delivery giant Zomato announced on August 21 that it will purchase Paytm’s entertainment and ticketing business for a total of INR 2,048 crore in an all-cash transaction. This comes as the food delivery giant hopes to grow its footprint in the ‘going-out’ market, while the troubled fintech major seeks to concentrate on its core financial services offerings with the acquisition.
Zomato on the Financial Front
In terms of revenue, Zomato has grown substantially. In the first quarter of the fiscal year 2024-25 (Q1FY25), the company’s consolidated profit increased significantly from the previous quarter’s INR 175 crore to INR 253 crore. Zomato achieved its first ever profit in the same period last year (Q1FY24), albeit a small one of INR 2 crore.
Zomato’s operational revenue also increased significantly, increasing from INR 2,416 crore in Q1FY24 to INR 4,206 crore in Q1FY25, a 74% year-on-year rise. The prior quarter’s reported revenue for the company was INR 3,562 crore. Although revenue increased to INR 3,636 crore in Q1FY24 and INR 2,612 crore in Q1FY24, overall expenditures increased to INR 4,203 crore in Q1FY25.
Lendingkart, a retail lending platform based in Gurugram, has teamed up with Tata Capital Limited, the financial services arm of the Tata Group, to provide unsecured business loans to MSMEs all over the nation.
The goal of the agreement is to make it easier for micro, small, and medium-sized enterprises (MSMEs) to get the financing they need by utilising Lendingkart’s digital platform.
Loans for businesses, working capital, micro, small, and medium enterprises (MSME), women-owned businesses, and individuals are all available through Lendingkart, which was established in 2014 by Harshvardhan Lunia and Mukul Sachan.
Function of Lendingkart’s Software as a Service Solution
A significant component of this partnership will be the Software as a Service (SaaS) platform known as “2gthr,” which is offered by Lendingkart. It is possible to handle the complete customer process with the assistance of the platform, which includes beginning the process of loan applications, promptly approving them, disbursing funds, and managing collections.
Using this platform, Lendingkart intends to improve access to credit for micro, small, and medium-sized enterprises (MSMEs), making it possible for even underserved firms to take advantage of the loans that are made available through this cooperation.
Meeting the Urgent Funding Requirements of Msmes
The cooperation intends to address the crucial financial needs of micro, small, and medium-sized enterprises (MSMEs), a sector that frequently fails to gain access to credit.
Harshvardhan Lunia, the founder and chief executive officer of Lendingkart, emphasised the significance of the relationship by adding, “Our objective is to increase credit penetration and make financing more accessible and easier for micro, small, and medium-sized enterprises. Through the formation of this cooperation, we will be able to solve the important finance requirements of enterprises that are not being adequately served and achieve higher operational benefits.”
Through this cooperation, it is anticipated that Lendingkart’s technology skills will be combined with Tata Capital’s wide network in order to increase the number of firms that can be reached.
Tata’s Emphasis on the Empowerment of MSMEs
Vivek Chopra, Chief Operating Officer of Retail Finance at Tata Capital Limited, stated that the relationship between Tata Capital and Lendingkart exemplifies the company’s commitment to the expansion of collaborative arrangements. Small and medium-sized enterprises (MSMEs) will be able to capitalise on emerging possibilities and promote thorough company expansion thanks to this strategic plan.
The network of Tata Capital, which has over 750 branches across India, is anticipated to play a significant role in making these loans available to micro, small, and medium-sized enterprises (MSMEs) nation-wide.
In this exclusive interaction with StartupTalky, Ms. Payal Nambiar, Founder and Director of B-Square Solutions, shares her journey and insights into the IT industry. She explains how B-Square’s innovative solutions, like the Pothera ERP, are making a big impact in the tech world. Nambiar talks about how the company uses advanced technologies like AI and Blockchain, highlights key successes, and reflects on her experiences as a woman entrepreneur in tech. Her perspective offers a valuable look at what’s next for technology and leadership in today’s fast-paced IT world.
StartupTalky: Can you briefly describe B-Square’s core offerings and what sets them apart in the IT industry?
Ms. Nambiar: B-Square is a leading twenty-year-old software company that has established itself as a trusted partner for businesses across a wide range of industries. At the core of our offerings is a suite of innovative and cutting-edge IT solutions designed to streamline operations, enhance productivity, and drive digital transformation. Our product portfolio includes Pothera ERP, CRM, SCM, CMMS, Wogan Carwash Management Software, Clinic Management Software, and many more customised applications serving different verticals.
Our flagship product Pothera ERP is the productivity powerhouse. This cutting-edge solution streamlines workflows optimizes every aspect of the business, and unlocks unparalleled levels of productivity for manufacturing, and trading in a diverse range of industries. We utilize and integrate the latest technology, such as AI and cloud computing within our software, making it scalable and efficient. Moreover, our customer-centric approach, including seamless integration, quick implementation, and continuous support, ensures that our every solution is aligned with the client’s unique needs.
B-Square takes the time to deeply understand the unique challenges and requirements of each client, allowing them to develop tailored solutions that address their specific needs.
Our team of highly skilled and experienced professionals combines technical expertise with a deep understanding of industry best practices, ensuring that our clients receive the most effective and efficient solutions. Whether it is developing custom software, implementing enterprise-level systems, or providing managed IT services, B-Square consistently exceeds expectations and delivers tangible results.
StartupTalky: What inspired you to start B-Square, and how has your vision evolved over the years?
Ms. Nambiar: B-Square was founded in 2001 on the belief that technology should empower businesses, not complicate them. When we started out, our vision was to create intuitive, user-friendly software solutions that would help small and medium-sized enterprises streamline their operations and drive growth.
Over the years, our commitment to this vision has only grown stronger. We’ve witnessed firsthand how the right technology can transform a business, freeing up time and resources to focus on core objectives. That’s why we’ve dedicated ourselves to developing innovative products that address the real-world challenges faced by our clients.
As B-Square has evolved, so has our understanding of the needs of the modern business landscape. We’ve expanded our suite of offerings to encompass a wide range of solutions, from cloud-based accounting tools to powerful data analytics platforms. But at the heart of it all remains our unwavering focus on creating technology that makes a tangible difference in the lives of our customers.
Looking ahead, we’re excited to continue pushing the boundaries of what’s possible in the world of business software. With a talented team of developers, designers, and industry experts, we’re poised to deliver even more transformative solutions that will help our clients achieve their goals and unlock new levels of success.
StartupTalky: How does B-Square approach innovation in its products and services?
Ms. Nambiar: We embrace a proactive approach to innovation by continuously integrating the latest technologies, such as Artificial Intelligence, Blockchain, and Cloud Computing. Our software is designed to offer impeccable results with adaptability, scalability, and responsiveness in accordance with the current industry requirements and daily customer usage. We offer a unique and comprehensive User Interface that adapts to customer experiences making it more user-friendly. We provide customer services based on their feedback and respective needs.
Our approach to innovation is multifaceted and deeply rooted in our company culture. We foster an environment that encourages our talented team to think outside the box, challenge the status quo, and explore bold new ideas. We believe that innovation is not a one-time event, but a continuous process that requires a willingness to take calculated risks and learn from both successes and failures.
One of the key pillars of our innovation strategy is our commitment to staying at the forefront of technological advancements. We closely monitor industry trends and emerging technologies, and we invest heavily in research and development to ensure that our products and services remain cutting-edge and relevant. Our team of skilled engineers and developers is constantly experimenting with new tools, frameworks, and methodologies, always seeking ways to optimize our offerings and deliver even greater value to our customers.
But innovation at our company is not just about technology – it’s also about the way we approach problem-solving and the customer experience. We place a strong emphasis on user-centric design, gathering feedback from our customers and incorporating their insights into the development of our products. This collaborative approach allows us to create solutions that truly resonate with our target audience and address their pain points in innovative and impactful ways.
StartupTalky: What are some key features of the software solutions you offer, and how do they benefit businesses?
Ms. Nambiar: We have integrated our Pothera ERP software with some of the best-in-class technologies that offer comprehensive control over operations while enhancing efficiency, accuracy, and compliance. Our Quality Management System ensures high standards and Multi-currency Support to facilitate international transactions. We have integrated Automated E-Invoicing and QR code API to streamline financial processes and reduce manual errors. Synchronization across multiple plants and companies is a value-additional feature that would ease the coordination processes between various units seamlessly.
Some minute features like Sub Contracting and UDF are added to enable customization, while E-mail and WhatsApp integrations enhance communication. To enhance security, we have added powerful and granular authorization processes that provide secure access and our fully paperless system promotes sustainability. These features make Pothera ERP a versatile and robust solution for businesses.
Our software solutions are designed to revolutionize the way businesses operate. With a suite of powerful features, we empower our clients to streamline their workflows, boost productivity, and drive tangible results.
With our preconfigured enterprise application, one can rapidly deploy a powerful system that connects multiple plants and companies across geographies, seamlessly handling multi-currency transactions and supporting multiple companies with different charts of accounts.
One of the key benefits of our software is its fully paperless system with multi-level approvals, ensuring efficient and secure workflows. Our configurable notifications and alerts via email keep the users informed, while the ability to attach documents in various formats simplifies collaboration and record-keeping.
Customization is at the heart of our solutions, with user-defined fields that can be tailored to specific business requirements. Flexibility and scalability are also hallmarks of our offerings, allowing users to easily adapt to changing business scenarios and support the entire enterprise.
Integrated business intelligence tools provide clients with powerful insights, empowering them to make data-driven decisions that propel their business forward. Our cloud-based platform offers the convenience of any-time, anywhere access, while features like e-invoicing and a comprehensive dashboard keep entrepreneur in control of their operations.
But we don’t stop there. Our software also boasts robust data management capabilities, allowing users to centralize and contextualize their information for deeper insights. Intuitive dashboards and reporting tools provide real-time visibility into key performance indicators, empowering customers to make informed, data-driven decisions.
Underpinning it all is our commitment to security and compliance. We understand the importance of safeguarding sensitive data, which is why our solutions are built with the highest standards of encryption and access control in mind.
Ultimately, our solutions suite is more than just a tool – it’s a strategic partner that can help businesses thrive in today’s competitive landscape.
StartupTalky: What tools and technologies do you use to manage and enhance operations?
Ms. Nambiar: At B-Square we leverage advanced technologies, including cloud computing, AI, and Blockchain to enhance operations. With our Cloud-Based infrastructure, we offer scalability, data accessibility, and seamless integration. Our products are powered by AI to offer real-time analytics to optimize processes and enhance decision-making. We have enhanced security and trustworthiness in operations through Blockchain technology.
At B-Square, we leverage a powerful suite of advanced technologies to enhance and streamline our operations. Chief among these is our robust cloud-based infrastructure, which provides unparalleled scalability, data accessibility, and seamless integration across our entire ecosystem.
Underpinning our cloud platform is the transformative power of artificial intelligence. Our products and services are imbued with AI-driven capabilities that deliver real-time analytics, enabling us to optimize processes and empower data-driven decision-making like never before.
But we don’t stop there. To fortify the security and trustworthiness that are the bedrock of our operations, we have also integrated cutting-edge blockchain technology. This innovative solution safeguards the integrity of our data and transactions, giving our clients the confidence they need to focus on growth.
By harnessing the full potential of cloud computing, AI, and blockchain, B-Square is redefining the standards of operational excellence. This powerful trifecta of technologies empowers us to deliver unparalleled efficiency, agility, and peace of mind to our valued customers.
StartupTalky: How do you ensure the security and trustworthiness of your software solutions?
Ms. Nambiar: To secure user data we have prioritized the security by incorporating blockchain security which is said to offer a modernistic and highest level of security within any website or application. Our application offers a decentralized and immutable ledger system for data protection. We keep a regular check on the security infrastructure with encryption, regular vulnerability assessments, and access controls. We continuously monitor and ensure resilience against emerging cyber threats.
StartupTalky: What are your expectations for the IT industry in the coming years, and what latest trends do you think will shape its future?
Ms. Nambiar: The IT industry is on the cusp of a transformative era, driven by a confluence of exponential technologies. We anticipate a future where AI, machine learning, and automation will redefine business processes across sectors. The convergence of the physical and digital realms, often termed as the Internet of Things (IoT), will create unprecedented opportunities. Cybersecurity will remain paramount, as the digital landscape expands. Additionally, we foresee a surge in demand for data-driven insights and cloud-based solutions. These trends will reshape industries, create new business models, and demand a highly skilled workforce.
The coming years will be marked by rapid advancements in emerging technologies that will reshape the landscape.
We expect artificial intelligence and machine learning to take center stage, transforming how businesses operate and deliver value to customers. The integration of AI-powered solutions will become the norm, automating tasks, enhancing decision-making, and driving innovation across various sectors.
Furthermore, the proliferation of the Internet of Things (IoT) will continue to gain momentum, enabling seamless connectivity and data-driven insights. Businesses that harness the power of IoT will gain a competitive edge, optimizing operations and delivering personalized experiences.
Cybersecurity will also be a top priority, as the threat landscape evolves. Robust, multilayered security measures will be crucial to protect against sophisticated cyber attacks and safeguard sensitive data.
We are also witnessing the rise of cloud computing and the increasing adoption of hybrid and multi-cloud strategies. Businesses will leverage the scalability, flexibility, and cost-effectiveness of cloud infrastructure to drive digital transformation.
As a software company, we are poised to lead the charge in these emerging trends, providing innovative solutions that empower our clients to thrive in the dynamic IT landscape of the future.
StartupTalky: Can you share some key milestones or successes that B-Square has achieved since its inception?
Ms. Nambiar: B-Square has been at the forefront of technological innovation since its inception. We take immense pride in our journey of delivering cutting-edge solutions. Some of our key milestones include the implementation of our Pothera ERP Solution to Tirupathi Enterprises. Recently B-Square expanded its geographical footprint into Africa where B-Square’s Pothera ERP was chosen as the preferred ERP Solutions Provider for Surya Group, a large conglomerate with diverse business interests.
These achievements are a testament to our team’s dedication and our commitment to staying ahead of the curve.
StartupTalky: How do you and your team stay ahead of technology trends and incorporate new advancements into your solutions?
Ms. Nambiar: Innovation is at the core of B-Square’s DNA. We foster a culture of curiosity and experimentation. Our team comprises a diverse group of experts who continuously research and analyze the latest technological advancements. We believe in a collaborative approach, engaging with industry leaders, attending conferences, and participating in hackathons to stay updated. This knowledge is then infused into our product development process, ensuring that our solutions are always aligned with the evolving market needs.
StartupTalky: What motivates you to lead as a women entrepreneur in tech, and what challenges have you overcome in this role?
Ms. Nambiar: Leading a tech company as a woman is both challenging and rewarding. I am driven by the desire to inspire and empower other women in STEM. Breaking down stereotypes and creating opportunities for women in leadership is a personal mission. While the journey has had its challenges, such as overcoming gender biases and balancing work-life commitments, I believe in the power of resilience and perseverance. I have learned to leverage my unique perspective to build a strong and inclusive team.
StartupTalky: How do you envision the future of B-Square and its role in the IT industry in the next 5 years?
Ms. Nambiar: B-Square has a bold vision for the future. We aim to be a leading provider of innovative technology solutions that transform businesses and society. In the next five years, we see ourselves as a key player in driving digital transformation. We will continue to invest in research and development, expand our product portfolio, and strengthen our global footprint. Our focus will be on leveraging emerging technologies to create sustainable and scalable solutions that address the evolving needs of our clients.
StartupTalky: What advice would you give to aspiring entrepreneurs looking to start their own tech company?
Ms. Nambiar: For aspiring entrepreneurs, I would emphasize the importance of passion, perseverance, and a strong vision. The tech industry is highly competitive, but with the right mindset, anything is achievable. Building a solid team, understanding your target market, and focusing on delivering value is crucial. Never be afraid to fail; failures often lead to valuable lessons. Continuous learning and adaptation are key to success.
Zerodha, the most prominent broker in India, has recently implemented a new privacy mode option on its website. This feature allows customers to protect sensitive information such as details, profit and loss (P&L), and other sensitive elements.
As a result of the fact that constantly seeing real-time changes in the profit and loss statement can frequently be distracting and may be enticing to overtrade, Zerodha claims that the feature will assist investors in avoiding overtrading.
To help people against heavy losses
“At Zerodha, our primary objective has always been to assist individuals in improving their financial situation”. In a blog post, the broker stated that this can take the shape of warnings and nudges that assist customers in increasing their chances of winning when trading, as well as the development of features that can assist in preventing excessive trading.
The urge to engage in an excessive number of trades, particularly when things are not going as planned, might result in an endless cycle of trading losses. It developed Kill Switch, which enables users to instantly shut one or more segments on Kite, so compelling investors to take a break. This was done with the intention of assisting users in avoiding the risks associated with overtrading.
Traders are able to get a comprehensive view of their charges throughout the day, which enables them to make more informed trading decisions and encourages them to be more mindful of their trading activity. Zerodha introduced the virtual contract note on Kite as the next step, which displays charges for all of the orders that were placed during the day period.
Major benefits of the feature
It is now possible for users of Kite to effortlessly conceal all of these figures thanks to the privacy mode, which enables them to concentrate on a trading strategy without becoming distracted by the day-to-day swings of their accounts.
It is also helpful for users to have this functionality in circumstances where they are presenting their device to friends or family members and want to conceal important financial information.
Already accessible on the Kite online, the privacy mode will soon be made available on the Kite mobile app as well. In order to engage this feature, investors can activate it by clicking on the user ID on Kite and selecting the toggle button for the privacy mode.
In the past, Zerodha has introduced to its trading platform, Kite, features that are similar to those that are helpful to investors. The first of them was the Kill Switch, which gave users the ability to instantly disable one or more trading segments on Kite. This was done to encourage users to take a break from trading and to prevent them from making rash choices. Based on this, Zerodha produced the Virtual Contract Note, which gave traders a comprehensive view of the charges for all orders submitted throughout the day along with a detailed breakdown of expenses. This was created to provide traders with a comprehensive picture of the charges.
Cayman Islands: The inaugural season of the Max60 Caribbean League 2024 powered by Badshahcric witnesses twists and turns with every game. The league kicked off on a thrilling note on the 18th of August and has been on an upward trajectory since then. The 12th match witnessed a classic showdown between the Badshahcric-sponsored Caribbean Tigers and the Grand Cayman Jaguars. The Tigers emerged victorious in the matchup by 48 runs and a total of 150 runs.
Tigers Establishes Dominance with Bat and Ball
The Caribbean Tigers tactfully opted to bat first after winning the toss and played fiercely sporting their jersey sponsored by Badshahcric. The decision to bat first was proven wise after their masterclass in the picturesque Cayman Islands. The openers determined the course of the game by setting a strong foundation for the rest of the batting lineup to follow.
The previous game’s top batters such as George Munsey and Josh Brown proved their batting prowess and consistency again with hard knocks scoring 52 and 50 runs respectively. They took the chance and wasted no time and balls in the game to set up a competitive total for the Tigers. Nick Hobson, who came in one down, supported the batters in maintaining the run rate by scoring 20 runs from a mere 8 balls. However, Icon players such as Chris Lynn faded out and could only manage to squeeze out 3 runs.
On the other hand, the Grand Cayman Jaguars couldn’t catch up to the Tigers and couldn’t prevail by beating their total. The likes of Sikandar Raza and Saif Zaib tried their best to spiking the scores up but the Tigers’ bowling side did their part exceptionally. Suranga Lakmal nicked off 3 wickets ending the Jaguars’ reign followed by Michael Leask and Andrew Tye with 2 and 1 wickets respectively.
Badshahcric Fuels Up the Max60 Thrill
The atmosphere of the Caribbean T10 League, Max60 is electrified with the onboarding of the online betting giant, Badshahcric. The fast-paced, thrilling, and high-octane cricket leagues have all the opportunity to be etched into the minds of global cricket fans. The inaugural season of the Max60 has kickstarted with flying colors and excitement.
Badshahcric establishes its presence in the league by backing two of the best franchises of the league, Boca Raton Trailblazers and Caribbean Tigers. Being the jersey sponsor of the aforementioned teams, Badshahcric has extended its commitments toward online gaming and cricket beyond global standards. Fostering new and upcoming talents across the world and guiding them to the global arena has been the vision engraved in the Badshahcric journey throughout. Max60 has provided a platform to make the vision come true for Badshahcric as the league is propelling forward with full power.
This article has been contributed by Vasudha Jajoo Pahwa, Vice President of Corporate Affairs at Bry-Air, Pahwa Group.
Corporate affairs hold a lot of significance for any organization. Looking at the dynamic and highly competitive business landscape, organizations are always on the lookout for effective corporate affairs strategy to create an impactful reputation in the industry. Forming a vital link between the company and the internal and external stakeholders is crucial for forging a strong relationship with the stakeholders and is also responsible for maintaining consistent and cohesive messaging across the platforms.
Corporate affairs have a far-reaching influence on the existence of the company, as it navigates the potential risks that could harm the reputation and operations of the company beforehand and devise appropriate strategies to uphold the integrity of the company.
Gauging the crucial role corporate affairs plays in an organization, devising a comprehensive corporate affairs strategy can go a long way in driving optimal results.
Alignment with Company Values
Corporate affairs function extends beyond just managing internal and external communications within the company. At Bry-Air, marketing and HR activities are also part of corporate affairs. It’s important to emphasize that maintaining consistent communication across all functions and ensuring that all departments are aligned with the company’s mission and vision is crucial. This alignment is a key responsibility of corporate affairs professionals.
Another significant aspect is how the company is portrayed in the media and the management of relationships with stakeholders. While marketing plays a role in this, the focus should be on the broader scope of corporate communication, which includes both internal and external aspects. Internally, it’s about ensuring employees understand the company’s mission, vision, and holistic goals. Externally, we communicate the same to our stakeholders, business partners, and customers to keep them informed about the company’s ventures and direction.
Enhanced Visibility Among Audiences
It’s also important to highlight the innovations spearheaded by the company. Especially in a B2B segment, making the audience cognizant of the new technologies and unique offerings is crucial. The communication efforts should revolve around keeping the audience informed about these developments. Corporate affairs ultimately serve as a platform to communicate important narratives about the company. The messaging needs to convey these critical points effectively.
Integration of Advanced Tools
In today’s digital world, the success of communication depends on two factors: the quality of the data one possesses and the channels being used. As the world becomes more digital, it’s imperative to utilize world-class tools, such as HubSpot, to manage the data and communications. There should be an incessant focus on managing SEO, running campaigns across social media and Google, and creating targeted email campaigns that give an insight into the problems that are being solved by the company.
Highlighting the Problem-Solving Aspect in Media
The positioning of the organization in public relations should always reflect the problem-solving approach. It’s not just about claiming that the products or services are the best, but about taking a more human-centered approach, emphasizing the larger mission of the company. For instance, we are solely driven by our mission to make life better for both people and machines. Since air is omnipresent and integral to our environment, our work in air treatment contributes to improving everything around us. This is also depicted in our communication, which revolves around the problems we are committed to solving, both for our internal teams and external customers.
Focus on HR Roles
Corporate affairs should proactively touch on the HR aspect, emphasizing the importance of employee engagement. As a company, it should value employees and stakeholders with policies focused on sustainability and employee well-being. Prioritizing a diverse workforce with the commitment to rendering a safe and inclusive place to work, particularly for women, can foster a progressive work culture within the organization. For instance, we at Bry-Air have female staff working on our shop floors. These points, which are also highlighted in our sustainability report, can be framed within the broader context of corporate communication.
Having elaborated on the various aspects of corporate affairs, it also bodes well for ensuring the legal and regulatory compliance of the company. Therefore, overseeing diverse facets of the organization, corporate affairs is essential for ensuring alignment across internal and external stakeholders.
In their most recent attempt to secure the approval of the competition watchdog for the merger of Star India and Viacom18, Reliance Industries Ltd (RIL) and Walt Disney are reportedly considering proposing a two-year freeze on advertising rate cards to the Competition Commission of India (CCI).
With an eye towards closing by October, RIL and Disney have been looking for methods to allay the regulator’s fears regarding the merger’s possible effects on India’s media and entertainment (M&E) sector.
The Step Will Bring Marginal Loss to the Merger
Ad revenue loss from the ad rate freeze is unlikely to be significant, and media agency officials find RIL and Disney’s plan intriguing because it could aid the Star-Viacom18 merger in obtaining CCI clearance.
The Indian Premier League (IPL) and other properties have taken a major hit from the recent advertising slump, but some executives are arguing that the combined business will suffer little harm from the planned rate freeze.
Due to the departure of modern sponsors and reluctance among established brands to make costly bets on cricket, Star Sports and JioCinema have scarcely filled their ad inventory, so they would be content to maintain the current ad pricing.
Given that the merged entity’s market share would easily surpass the 40% mark in several markets, RIL and Disney are proposing a number of measures, including a tariff freeze and the closure of certain weaker channels in Hindi and regional markets.
CCI Keeping a Close Eye on the Developments
In its investigation into the proposed INR 70,000 crore merger between Viacom18 and Star India, the CCI is raising concerns about possible antitrust violations and challenging the companies’ monopolies in the television and online video markets.
It is looking into whether the planned merger will give Star-Viacom18 an unbeatable competitive advantage by consolidating important cricket rights.
In India, cricket crosses demographics like age, income, and language to become the most watched show overall. Its premium ad prices are unmatched by any other genre.
According to an expert in the field, the merging company’s negotiating power with advertising would be its greatest strength because of its market domination.
Claiming that the Star-Viacom18 merger would not substantially affect competition in the M&E market, RIL and Disney applied for clearance from the CCI in May.
The Merger’s Deal
To establish a media conglomerate with more than one hundred television channels and two streaming platforms, Disney+ Hotstar and JioCinema, RIL and Disney signed arrangements in February to merge Star and Viacom18. This will result in the creation of a media superpower. JioCinema seems to be the only streaming platform that the merged firm is likely to keep.
At the end of the joint venture, Bodhi Tree Systems, an organisation that is sponsored by Uday Shankar and James Murdoch, will keep the remaining interest. RIL will manage the joint venture with a 56% stake, followed by Disney with a 37% stake. On an annual basis, the combined entity would generate approximately INR 25,000 crore in revenue.
Shankar will have the position of vice chairperson, while Nita Ambani would serve as chairman of the combined firm.
A new feature called “Credit Line on UPI” has been introduced on PhonePe’s platform. This feature gives customers the ability to link their pre-approved credit lines to UPI, which enables them to make payments without any hassle. Users now have the ability to control their monthly costs using short-term financing while simultaneously making purchases from millions of different retailers thanks to this unique alternative.
The Reserve Bank of India (RBI) made the decision to broaden the scope of the Unified Payments Interface (UPI) to include pre-approved credit limits, which will result in an increase in the usefulness of UPI applications. Because users may now link their credit lines to UPI on PhonePe, they are able to make payments in a manner that is both more flexible and more efficient.
Win-Win Situation for Both Consumers and Merchants
Additionally, retailers who are using the PhonePe Payment Gateway (PG) are able to provide their clients with an additional payment option throughout the checkout process. This option is available to both consumers and merchants.
Both friction and cart abandonment are reduced as a result of this, which ultimately leads to an increase in sales. Simply integrating with PhonePe PG is all that is required for merchants to add ‘Credit Line on UPI’ as a payment option in order to make this offering available.
How does UPI’s Credit Line Work?
The ‘pre-sanctioned credit line at banks through UPI’ is an innovative financial solution that is aimed to alter the landscape of lending, as stated on the website of the National Payments Corporation of India (NPCI). With the use of this product, people and businesses are able to have access to pre-approved credit lines from financial institutions. Through the facilitation of the supply of low-ticket, high-volume retail loans, it promotes economic growth and enhances financial inclusion.
By utilising cutting-edge technology such as data analytics and artificial intelligence, financial institutions are able to recognise prospects for credit lines for clients and merchants who are engaged in major UPI-based digital payments.
According to the website of the National Payments Corporation of India (NPCI), “Since the customer is going to use UPI, which involves the customer being always connected and available in real time, the banks are able to begin with low-ticket credit lines and work their way up based on consumer behaviour and repayment patterns from there.”
How Can One Use UPI to Access His Credit Line?
Through the use of the same UPI wires that millions of Indians are already familiar with, the credit line on UPI operates. To access it, users can do the following:
1. Users are able to link their Credit Line on UPI by selecting the bank from whom they obtained the Credit Line and clicking on the profile area located in the upper left corner of the home page of the PhonePe app.
2. When the user clicks on the bank, the Credit Line that is related with their enrolled telephone number will be connected on UPI.
3. Once the user has successfully linked it, they will be needed to set a UPI PIN.
Following the completion of this step, the Credit Line option will be displayed as a payment instrument on the payment page while the user is in the process of making a payment.
Recently, Karnataka Bank and Navi Technologies, a business that provides financial services, made an announcement on the launch of a credit line on UPI. Karnataka Bank will be one of the early users of this next-generation credit product as a result of the private sector lender’s strategic agreement with Navi, which will allow them to extend credit lines to customers.
Launching the PW School of Startups (SOS) under the PW Foundation, the edtech platform Physics Wallah (PW) has taken a giant leap forward in its goal to make education accessible to all students in India.
By focussing on the development of entrepreneurial skills, PW SOS aims to close the gap between more conventional forms of education and the ever-changing startup ecosystem. In order to help budding entrepreneurs turn their ideas into profitable businesses, the initiative offers a wide range of resources, including affordable programmes, hands-on training, strategic mentoring, and access to funding.
The introduction of PW SOS coincides with a period of great success for India’s startup scene. India ranked seventh out of 49 nations in the Global Entrepreneurship Monitor India Report 2022/23, with 75.5% of Indians perceiving good local business chances. In addition, the country’s third-largest startup ecosystem is in India, where over 78% of the youth feel it quite straightforward to start a firm. Half of the 10 lakh employment created by Indian startups by 2023 were from areas outside of Tier 2 cities, which meant they were responding to issues on a local level in areas like healthcare, education, and agriculture.
Preparing Participants for Entrepreneurial Challenges
In order to meet the obstacles of entrepreneurship, PW SOS provides its members with practical skills, real-world experience, and a community of support, according to the official announcement. The institution’s mission is to support the startup community in its pursuit of innovation, creativity, and long-term success. Those that take part are able to tap into a wealth of possibilities and resources that are essential to the success of entrepreneurs.
Prateek Maheshwari, Co-Founder of Physics Wallah, highlighted, “Our goal with PW SOS is to connect budding entrepreneurs with mentors who have built successful businesses and scaled them. On top of that, we have set aside $11.9 million (INR 100 Cr) to back 100 companies for the next 60 months.”
Programmes Offered
Aarambh, Prarambh, and Hopes Alive are the three separate programmes that PW SOS provides, and they are all designed to help entrepreneurs at different points in their journeys. Aarambh is an offline programme that runs for five days and aims to help students, young professionals, and college students accelerate their growth by providing them with tools, networks, and advice from experts. The five-month Prarambh programme focusses on budgeting and business model development; it is aimed for college students, early professionals, small family company owners, and social impact enthusiasts. As a 5-month hybrid programme, Hopes Alive provides seed-funded and bootstrapped businesses with access to capital, mentorship, and networking opportunities.
It is PW SOS’s intention to register one hundred in Prarambh and one thousand in Aarambh within the next twelve months.
“Companies in Tier 2 and Tier 3 cities have great business ideas, but they don’t have someone to help them out or a community to lean on,” according to Alakh Pandey, CEO and Founder of Physics Wallah.
Prithvi Durai
