On October 10, Canara HSBC Life Insurance Company will make its first public offering. On October 14, the initial public offering (IPO), which would be an offer-for-sale (OFS) of 23.75 crore shares, will close. A day before the debut, the company will provide anchor investors a portion of the IPO shares.
Soon, the price range that has been approved by regulators to start the public offering will be revealed. Promoters Canara Bank and HSBC Insurance will sell off a portion of their holdings under the OFS, while investor PNB will also sell its shares.
Financial Dynamics of Canara HSBC Life Insurance
From INR 91.2 crore in fiscal 2023 to Rs 117 crore in fiscal 2025, the profit after tax grew at a compound annual growth rate (CAGR) of 13.26%. It was INR 23.4 crore in the three months that ended in June 2025. Additionally, as of FY25, the embedded value had grown from INR 4272 crore at the end of FY23 to Rs 6111 crore. With a solvency ratio of 200.42% as of June 2025, beyond the required threshold of 150%, Canara HSBC is financially well-capitalised.
As evidence of its broad reach and the trust that clients have in us for their life insurance needs, the company has so far covered 10.51 million lives. The issue’s book running lead managers are SBI Capital Markets, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial, and Motilal Oswal Investment Advisors.
About Canara HSBC Life Insurance and its Operations
Promoted by Canara Bank, HSBC Insurance (Asia-Pacific) Holdings, a part of the Hongkong and Shanghai Banking Corporation Ltd (HSBC) group, and Punjab National Bank (PNB), another state-owned lender, Canara HSBC Life Insurance Company is a three-way partnership.
As of March 31, 2024, the business ranked third among led life insurers promoted by the public sector in terms of assets under management (AUM). Canara HSBC Life Insurance Company was founded in 2007 and has since developed into a major bank-led private participant in the Indian life insurance market.
According to the number of lives covered for Fiscal 2024, it is the second-largest public sector bank-led life insurer in India. According to the insurer’s DRHP, the company’s Annualised Premium Equivalent (APE) has continuously increased, reflecting efforts to broaden its offerings and boost its market presence.
Quick Shots
•IPO Dates: Opens on October 10, 2025; closes on
October 14, 2025.
•Offer Type: Offer-for-sale (OFS) of 23.75 crore
shares.
•Anchor Investors: Allocated shares a day before the
IPO debut.
•Price Range: To be announced soon after regulatory
approval.
•Promoters Selling Shares: Canara Bank, HSBC
Insurance, and PNB.
Virat Kohli, the iconic Indian cricketer and former captain of the Indian cricket team, has taken the brand endorsement world by storm. With exceptional talent and a magnetic personality, Kohli is the top choice for numerous renowned brands. Notably, he was the only cricketer on Forbes magazine’s list of the top 100 highest-paid athletes in 2020. His substantial earnings of approximately Rs 203 crore ($24 million) from brand endorsements set records in both the Bollywood and sports industries.
In this article, let’s explore Virat Kohli’s brand endorsements list and the influential role he plays as a trusted brand ambassador.
As a highly sought-after brand ambassador, Virat Kohli has forged partnerships with numerous top brands, solidifying his position as one of the most influential figures in the world of brand endorsements. Let’s take a closer look at some of the notable brands that have been fortunate to have Virat Kohli as their brand ambassador:
Myntra
Virat Kohli Brand Ambassador of Myntra | Virat Kohli Advertisement
Virat Kohli’s association with Myntra, the leading online fashion and lifestyle platform, has added to the brand’s star-studded list of ambassadors. In line with their “Be Extraordinary Every Day” campaign, Myntra recognizes Kohli’s extraordinary persona and his ability to inspire others to push boundaries. As a brand ambassador, Kohli epitomizes the spirit of exceptionalism and encourages individuals to embrace their uniqueness. With his infectious energy and passion, he embodies the essence of Myntra’s mission to empower individuals to express themselves through fashion, making him a perfect fit for the brand’s vision.
In 2019, Myntra announced that it had appointed celebrity couple Virat Kohli and Anushka Sharma as its first brand ambassadors.
Duroflex
Virat Kohli Brand Ambassador of Duroflex
Duroflex, a leading sleep solutions brand, partnered with cricketer Virat Kohli as its brand ambassador in May 2023 and launched the “Great Sleep, Great Health” campaign. This collaboration aims to emphasize the significance of quality sleep in maintaining overall well-being. As the face of Duroflex, Kohli will advocate for the importance of restful sleep and the role it plays in promoting a healthy lifestyle. Together, Duroflex and Kohli strive to inspire individuals to prioritize quality sleep for enhanced physical and mental health.
Puma
Virat Kohli Brand Ambassador of Puma
In a significant move back in February 2017, Puma, the renowned sports apparel brand, made an endorsement deal with Virat Kohli. The cricketer signed an eight-year, INR 110 crore contract with Puma, making it a major collaboration. He also launched the One8 brand with Puma in 2017. This partnership helped Puma grow in the market and showed their trust in Kohli’s talent and dedication. As a brand ambassador, Virat Kohli represented the spirit of sports, matching Puma’s focus on performance and style.
In April 2025, Kohli reportedly chose not to renew his contract with Puma, turning down an INR 300 crore offer. He decided to focus on building his own brand and expanding into entrepreneurship.
Audi India
Virat Kohli Brand Ambassador of Audi India
Audi, the prestigious automotive brand, partnered with Virat Kohli, the Indian cricket sensation, as its esteemed brand ambassador in 2015. Later in 2021, Audi extended its association with Virat Kohli as the brand ambassador. This collaboration signifies the seamless alignment between Kohli’s charismatic persona and Audi’s pursuit of luxury and performance. With his magnetic presence and relentless pursuit of excellence, Kohli epitomizes the values that Audi stands for, further strengthening their position in the Indian market.
HSBC
Virat Kohli Brand Ambassador of HSBC
HSBC, a leading global banking and financial services organization, appointed cricketer Virat Kohli as its brand ambassador in April 2023, aligning with the shared values of excellence, integrity, and determination. This collaboration emphasizes HSBC’s commitment to providing trusted and innovative banking solutions that resonate with the aspirations of individuals and businesses. Additionally, HSBC has launched the campaign ‘My Account Starts Today’, featuring Virat Kohli, which aims to highlight the bank’s ‘opening up a world of opportunity’ proposition.
Luxor, a well-known brand in the world of writing instruments, recently welcomed cricketer Virat Kohli as its brand ambassador in March 2023. With his remarkable talent and inspiring persona, Kohli perfectly embodies the essence of Luxor’s commitment to offering top-notch writing instruments that enable individuals to articulate their thoughts and ideas with utmost precision. This partnership not only strengthens Luxor’s brand image but also resonates with Kohli’s ability to motivate and inspire countless individuals.
Noise
Noise – Brand Ambassador Virat Kohli
Noise, one of the leading Indian tech brands, recently welcomed Virat Kohli as its brand ambassador in December 2022. Kohli’s association with Noise exemplifies the brand’s commitment to innovation and cutting-edge technology. With this collaboration, Noise aims to empower individuals to push their limits and unleash their full potential. Kohli’s dynamic persona and unmatched drive make him an ideal fit for Noise’s vision of delivering smart and stylish products to tech-savvy consumers.
“I always believe in working with brands that I resonate with. Excited to join the passionate team of Noisemakers as I partner with Noise”, said Virat Kohli.
Toothsi, the renowned dental care brand, has found the perfect duo to endorse its products: Virat Kohli and Anushka Sharma. This power couple’s association with Toothsi brings together their influence and charm to promote oral health and hygiene. With Kohli’s magnetic persona and Anushka’s graceful presence, Toothsi aims to educate and inspire individuals to take care of their smiles. As brand ambassadors, Virat and Anushka exemplify the importance of dental wellness and the confidence that comes with a healthy smile.
Blue Tribe
Virat Kohli Brand Ambassador of Blue Tribe
Virat Kohli and Anushka Sharma became ambassadors and investors for Blue Tribe in February 2022. The brand focuses on plant-based meat and promotes healthier, eco-friendly food choices. They seemed to be the perfect fit to encourage people to switch to healthier and eco-friendly alternatives without compromising on taste. With this collaboration, Virat and Anushka aim to inspire conscious eating habits and support the growing trend of sustainable living.
O’cean Beverages, a brand under Ball Corporation, partnered with Virat Kohli to promote its products. The company provides hydration and energy drinks, and with Kohli being a fitness icon, his endorsement has attracted strong attention from Indian consumers, boosting the brand’s growth
Hero MotoCorp
Virat Kohli Brand Ambassador of Hero MotoCorp
In 2018, Virat Kohli joined Hero MotoCorp as a brand ambassador. It is one of the world’s largest two-wheeler companies. Through this partnership, Virat promotes Hero MotoCorp’s focus on performance, style, and trust. Virat’s energetic image has helped the brand connect with India’s youth better.
Rage Coffee
Virat Kohli Brand Ambassador of Rage Coffee
Virat Kohli partnered with Rage Coffee in 2020 as an investor and brand ambassador. Rage Coffee offers premium, flavoured coffee blends. Kohli’s investment reflects his passion for quality and healthy living. The partnership aims to bring a unique coffee experience to younger people who care about taste and wellness.
Virat Kohli has been with Amaze India since it started in 2018. Amaze India is one of the best inverter battery brands. In 2021, the brand extended its endorsement deal with Kohli for three more years. In 2024, Amaze launched the “Hamesha #ReadyToPerform” campaign. This campaign shows the brand’s focus on providing reliable power. With Kohli as the face of the brand, Amaze highlights its promise of always being ready to deliver, just like Kohli’s consistent performance in cricket.
Star Sports
In 2023, Star Sports roped in Virat Kohli as the brand ambassador for their IPL ad campaign”Shor On, Game On”. As the official TV broadcaster for the TATA IPL, Star Sports released a promotional video featuring Kohli with the slogan “Har Ghar Banega Stadium” (Every Home Will Become a Stadium). This collaboration aims to ignite the excitement of cricket fans nationwide, highlighting the IPL’s ability to bring the stadium-like experience directly into people’s homes.
Blue Star
Virat Kohli – Brand Ambassador of Blue Star
Blue Star, an Indian multinational home appliance company, found a perfect match in Virat Kohli in 2019. Kohli’s association with Blue Star brings a breath of fresh air to the brand, symbolizing its commitment to excellence and innovation. As a brand ambassador, Kohli embodies the spirit of passion and relentless pursuit of excellence, aligning perfectly with Blue Star’s drive for innovation and customer satisfaction. With this partnership, Blue Star aimed to enhance its brand image and reach a wider audience.
Virat Kohli Brand Ambassador of Mobile Premier League
In March 2019, MPL (Mobile Premier League) entered into a successful endorsement partnership with Virat Kohli, appointing him as MPL’s brand ambassador. The deal was said to be worth around Rs 12 crore. The partnership turned out to be a success and was further renewed in January 2020, solidifying their shared vision. In April 2023, MPL launched a dynamic campaign, “Darr Ko Hatao, Bada Khel Jao,” featuring Virat Kohli, that exemplifies MPL’s unwavering commitment to providing a secure gaming environment. With Virat Kohli’s endorsement, MPL continues to inspire gaming enthusiasts nationwide, inviting them to join the MPL community.
MRF Tyre
Virat Kohli Brand Ambassador of MRF Tyre | Virat Kohli Brand Endorsements
In 2015, MRF Tyres, the prominent tyre manufacturing company, signed Virat Kohli as their brand ambassador for a three-year period. During this time, Kohli reportedly received a substantial sum of Rs 8 crore per year for his association with the brand. Recognizing his immense value and impact, MRF Tyres renewed the deal in 2017 with a staggering investment of Rs 100 crore for a period of eight years. As part of this renewed agreement, Kohli is said to earn a remarkable Rs 12.5 crore per annum. This long-standing partnership highlights the mutual trust and success shared between Kohli and MRF Tyres in promoting excellence and performance.
Phillips India
Virat Kohli – Brand Ambassador of Phillips India
Virat Kohli’s partnership with Philips as their brand ambassador for male grooming products has been a testament to their shared commitment to excellence. The collaboration between Kohli, a symbol of style and confidence, and Philips, a leading brand in grooming solutions, has been impactful. In 2022, Philips India launched the #TenOnTenYou campaign featuring Kohli, aiming to shed light on societal judgments and empower millennials to embrace their true selves. With Kohli’s endorsement, Philips continues to inspire men to look their best, embracing their personal grooming rituals with confidence.
Digit Insurance
Virat Kohli Brand Ambassador of Digit Insurance | Virat Kohli Brand Ambassador List
Digit Insurance, a leading insurance company, has appointed Indian cricketer Virat Kohli as its brand ambassador. Virat is also an investor in the company. The partnership between Digit Insurance and Kohli signifies not only his endorsement of the brand but also his confidence in its services and vision. As an investor, Kohli’s association with Digit Insurance goes beyond a typical brand ambassador role, showcasing his belief in the company’s growth potential. With Kohli’s influential presence and strong reputation, Digit Insurance aims to enhance its brand visibility and connect with a wider audience by offering reliable and customer-centric insurance solutions.
Virat Kohli Brand Ambassador of Wrogn | Virat Kohli Brand Ambassador List
Wrogn, the trendy fashion brand, has joined forces with none other than Virat Kohli, who not only serves as its brand ambassador but is also the co-creator of the brand. This exciting collaboration brings together Kohli’s passion for fashion and his unique sense of style. With his involvement in the apparel line, Wrogn showcases a perfect blend of edginess and sophistication. Kohli’s creative vision and personal touch infuse the brand with a distinct identity that resonates with youth.
Manyavar
Virat Kohli Brand Ambassador of Manyavar
In 2016, Manyavar, the renowned ethnic wear brand, appointed Virat Kohli as its brand ambassador. Virat’s association with Manyavar has exemplified elegance and style, capturing the essence of Indian traditions. He became the face of Manyavar, embodying the brand’s commitment to celebrating festivities with their exquisite collection of traditional attire. The brand released a notable campaign, ‘Aadha-Aadha’ featuring Virat, which beautifully highlighted the significance of sharing in a marriage, starting from the expenses of the wedding function. This campaign struck a chord with audiences, emphasizing the values of togetherness and mutual support.
Virat Kohli’s association with Great Learning, the leading edtech company, as their brand ambassador created a significant buzz. With this association, Great Learning aimed to leverage Kohli’s influential persona to inspire individuals to embark on a journey of continuous learning and upskilling. As a brand ambassador, he epitomizes the spirit of growth and excellence, reflecting the values and aspirations of Great Learning’s target audience. Virat’s strong work ethic and relentless pursuit of excellence make him an inspiring figure for those seeking personal and professional development.
In 2020, the company launched the “Power Ahead” campaign with Virat Kohli. The campaign focuses on showing the importance of higher education and lifelong learning.
Too Yumm
Virat Kohli – Brand Ambassador of Too Yumm
In a noteworthy partnership, Too Yumm! roped in Virat Kohli as their brand ambassador. The association aimed to promote healthier snacking options and a balanced lifestyle. With Kohli’s influential persona and dedication to fitness, he perfectly resonated with the brand’s values. As the face of Too Yumm!, Kohli encouraged consumers to make mindful snack choices without compromising on taste. This collaboration successfully inspired individuals to adopt healthier habits and enjoy guilt-free snacking experiences.
Himalaya, the well-known wellness and personal care brand, enlisted the charismatic cricketers Virat Kohli and Rishabh Pant as its brand ambassadors in 2019. This collaboration showcased the perfect synergy between the cricketers’ influential personas and Himalaya’s commitment to natural and effective products. Virat and Rishabh’s association with Himalaya amplified the brand’s message of holistic well-being and the benefits of using natural ingredients in personal care. Their endorsement brought immense credibility to Himalaya and resonated with consumers who admired the cricketers’ dedication to fitness and healthy lifestyles.
Volini, the trusted pain relief brand manufactured by Sun Pharma, founded a powerful ally in Virat Kohli as its brand ambassador. With its introduction to the market in 2015, Volini quickly gained recognition as a go-to solution for joint, musculoskeletal, and lower back pain. In 2018, the brand expanded its offerings with the introduction of Volini Maxx, catering to the evolving needs of consumers. Recognizing Kohli’s enduring influence and his commitment to fitness, Sun Pharma Consumer Healthcare signed a significant endorsement deal with him in 2018.
Boost, the popular Indian energy drink has found a perfect brand ambassador in cricket superstar Virat Kohli. Kohli, who is known for his dedication and physical prowess on the field, embodies Boost’s message of sustained energy and focus. Their long-standing partnership has not only helped Kohli fuel his athletic journey but has also boosted the brand’s immense popularity and relatable fitness goals. From commercials showcasing Kohli’s intense workout routines to social media campaigns fueled by his winning spirit, their synergy has propelled Boost to the forefront of India’s energy drink market, making them a dynamic duo not only on the field but also in the hearts of millions.
Vivo
Virat Kohli Brand Ambassador of Vivo
Vivo, a Chinese technology giant, is well-known for its innovative and stylish smartphones. In 2018, Vivo made Virat Kohli, an iconic Indian batsman, its brand ambassador. This move was a strategic one as Kohli’s immense popularity among the youth aligns perfectly with Vivo’s target audience. It has helped the brand to improve its image and sales in the Indian market. The partnership between Vivo and Kohli has blended cutting-edge technology with the passion for cricket, leaving an undeniable impact on India’s mobile landscape.
In 2015, Uber, the tech giant that transformed on-demand transportation, found an ideal brand ambassador in cricketing superstar Virat Kohli. Kohli’s reputation as an unstoppable go-getter aligned perfectly with Uber’s emphasis on speed and efficiency, making him an ideal fit for the Indian market. The partnership went beyond the world of cricket, with campaigns emphasizing the ease and dependability of Uber, often showcasing Kohli’s trademark determination behind the wheel. This powerful combination not only raised Uber’s brand recognition but also established it as the go-to app for transportation, leaving an indelible mark on the Indian mobility landscape.
MuveAcoustics
Virat Kohli Brand Ambassador of MuveAcoustics
In 2017, Zeeva, an electronics company based in Hong Kong, launched MuveAcoustics, a lifestyle audio brand that targeted urban India, and paired it with the popular cricketing superstar Virat Kohli. His youthful energy and dedication to performance perfectly matched MuveAcoustics’ sleek headphones and speakers, creating a powerful synergy. Kohli’s massive social media following amplified the brand’s message, while his own passion for music added authenticity, helping MuveAcoustics to become a leading player in the Indian audio market.
Wellman
Virat Kohli Brand Ambassador of Wellman
In 2019, the UK-based brand Wellman, which is known for promoting men’s health and vitality, collaborated with the Indian cricket superstar Virat Kohli. This partnership was ideal since Kohli’s relentless commitment to physical and mental fitness aligns perfectly with Wellman’s scientifically proven supplements. Together, they encourage men to live their lives to the fullest by empowering them with the perfect combination of power and balance. Kohli’s massive fan base and Wellman’s trusted reputation have redefined men’s wellness in India, showcasing that success is achievable through both strength and equilibrium.
American Tourister
Virat Kohli Brand Ambassador of American Tourister
American Tourister, a luggage brand known for its durability and association with adventure, found the ideal travel partner in Indian cricket captain Virat Kohli in 2016. Kohli’s energetic and determined personality perfectly aligned with the brand’s core values, making him an exceptional ambassador. Together, they have launched several successful campaigns, including the “#I’mReady” campaign, which showcased Kohli’s globetrotting lifestyle, and the recent “#UndeniableLeave” campaign, which encouraged taking a break from travel. With Kohli’s influence and American Tourister’s innovative luggage solutions, they have fueled the wanderlust of millions, cementing their position as the most dynamic duo in the travel industry.
Avas Living
Virat Kohli Brand Ambassador of Avas Living
Located in Alibaug, Avas Living is a luxury community that offers a new definition of wellness living. It is no wonder that cricketing superstar Virat Kohli has partnered with Avas Living in 2022 to become its brand ambassador. Kohli, known for his dedication to fitness and holistic well-being, chose Avas Living as his dream home retreat. This partnership combines Kohli’s passion for wellness with Avas’ focus on sustainable luxury, technology-driven living, and a strong community vibe. It is attracting health-conscious high net-worth individuals who are seeking a haven of serenity and a touch of cricket royalty.
Ocean Beverages
Virat Kohli Brand Ambassador of Ocean Beverages
Ocean Beverages, focused on crafting innovative and sustainable hydration solutions, found the perfect wave of energy in partnering with cricket superstar Virat Kohli. Kohli’s dedication to fitness and performance mirrors Ocean’s commitment to natural ingredients and eco-friendly practices. Their collaboration, particularly on the Sustainable Edition O’cean Energy Drink with its recycled aluminium cans, resonates with health-conscious consumers seeking both refreshment and responsibility. This dynamic duo is making ripples in the beverage industry, proving that conscious choices can be both powerful and delicious.
Essilor
Virat Kohli Brand Ambassador of Essilor
French eyewear company Essilor, known for its innovative lenses such as Crizal and Varilux, teamed up with Indian cricket superstar Virat Kohli in 2017. This collaboration was based on the shared values of precision, peak performance, and visual clarity. Through this partnership, Essilor’s brand gained more visibility among India’s cricket-loving population and helped raise awareness about the importance of eye health. Kohli himself became an advocate for this cause. The partnership between Essilor and Kohli brings together excellence in sports and optical expertise, empowering millions to see the world with clarity.
Batwrap, the Australian cricket gear innovator, has found the perfect partner in the batting powerhouse Virat Kohli. The partnership was inked in 2023 and is set to redefine cricket aesthetics and performance. Kohli is known for his aggressive batting and style, which perfectly embodies Batwrap’s mission to transform old bats and personalize new ones with cutting-edge, lightweight materials. The “Virat Kohli Electric Blue” collection, born from this union, allows cricketers to unleash their inner champion with a unique blend of power and panache.
Livspace
Virat Kohli Brand Ambassador of Livspace
Livspace, the leading home design company in India, has teamed up with cricket superstar Virat Kohli, creating a perfect match. Kohli’s vibrant personality and commitment to family align with Livspace’s mission of transforming homes into joyful havens. The “Livspace your space” campaign, featuring Virat and his wife Anushka Sharma, brings a fun twist to interior design, demonstrating how Livspace empowers homeowners to personalize their living spaces. This partnership seamlessly blends cricket’s energy with the comfort of home, making Livspace the perfect choice for anyone looking to #OwnTheirSpace.
Shyam Steel
Shyam Steel Anushka Sharma and Virat Kohli Advertisement
Virat Kohli and Anushka Sharma teamed up with Shyam Steel as brand ambassadors. Shyam Steel is one of the leading TMT bar producers in India. Their campaign, “Hamesha Ke Liye Strong,” highlighted the strength and durability of Shyam Steel’s products. The partnership aimed to promote quality in construction materials, reaching a larger audience with the star power of Virat and Anushka.
Royal Challenge
Royal Challenge – Virat Kohli Brand Ambassador List
Virat Kohli represents Royal Challenge as a brand ambassador. In 2024, the brand launched the “Choosebold 2.0” campaign, featuring Virat, Smriti Mandhana, and Vidyut Jammwal. This campaign celebrates individuals who make bold choices in life. With Virat leading the way, it encourages others to embrace boldness in their personal and professional lives.
Muthoot FinCorp
Virat Kohli Brand Ambassador of Muthoot FinCorp
In April 2022, Muthoot FinCorp launched a campaign “Mera Gold Loan, Mera Interest” campaign with Virat Kohli. He appeared in three TV commercials, promoting the brand’s financial services. The campaign aimed to build trust and showcase Muthoot FinCorp as a reliable choice for financial solutions.
Herbalife Nutrition
Herbalife Nutrition – Virat Kohli Brand Ambassador List
In 2021, Herbalife Nutrition renewed its partnership with Virat Kohli. The brand promotes wellness and a healthy lifestyle, which aligns with Kohli’s passion for fitness. With his endorsement, Kohli helps encourage people to live healthier, contributing to the brand’s growth.
Hyperice
Virat Kohli Brand Ambassador of Hyperice
In 2021, Virat Kohli became an athlete investor and global brand ambassador for Hyperice. The brand is known for its recovery products that help improve performance. With Kohli on board, Hyperice promotes better recovery for athletes and fitness lovers, just like Kohli takes care of his own fitness.
Vize
Virat Kohli Brand Ambassador of Vize
In 2020, Virat Kohli became the brand ambassador for Vize, a health and fitness brand. Vize offers high-quality supplements to help people stay fit and active. Through this collaboration, the brand aimed to inspire individuals to take charge of their health and make fitness a priority in their daily lives.
Conclusion
Virat Kohli’s influence as a brand ambassador is undeniable. His association with various renowned companies across industries showcases his versatility and appeal to a wide range of audiences. From sports brands to lifestyle products, Kohli has successfully collaborated with top-notch brands, reinforcing their brand values and reaching new heights of success.
As of 2024, according to Mint, Virat Kohli’s net worth is estimated to be Rs 1050 crore ($123 million).
Virat Kohli is brand ambassador of how many companies?
Virat Kohli is brand ambassador for several renowned brands, including Puma, Myntra, Blue Star, MPL, Digit Insurance, Toothsi, Blue Tribe, Hero MotoCorp, Royal Challenges, Amaze India, and many others.
Which startups are funded by Virat Kohli?
Startups funded by Virat Kohli are:
Rage Coffee
Blue Tribe
Sport Convo
Universal Sportsbiz
Digit Insurance
Chisel Fitness
Hyperice
How much does Puma pay Virat Kohli?
Virat Kohli signed an eight-year endorsement deal with Puma in February 2017, worth INR 110 crore. Under this agreement, he earned an annual payment of INR 12-14 crore. However, in April 2025, Kohli chose not to renew his contract with Puma after it ended. He reportedly rejected an INR 300 crore offer, deciding to focus on building his own brand instead.
180 currencies are recognized as legal tender around the world today. Foreign exchange is the process of changing one currency into another for various reasons, usually for commerce, trading, or tourism. It is one of the most actively traded markets in the world, with an average daily trading volume of $6.6 trillion.
The vast majority of currency conversion is undertaken to earn a profit. A foreign exchange company also known as a foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies.
The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. The conversion rates for almost all currencies are constantly floating as they are driven by the supply and demand market forces.
Factors Affecting Currency Value
The value of any particular currency is determined by market forces related to trade, investment, tourism, and geopolitical risk.
Foreign exchange is handled globally between banks and all transactions fall under the auspice of the Bank for International Settlements (BIS).
The factors include various economic, political, and even psychological conditions.
The economic factors include a government’s economic policies, trade balances, inflation, and economic growth outlook.
Another important factor of demand occurs when a foreign company seeks to do business with another in a specific country.
Citigroup Incorporation is also known as Citi is a financial service corporation started in 1998. It is an American-based multinational company focusing on financial services and is headquartered in New York. Citigroup is given the tag of being the third largest banking institution group in the US and also forms an integral part of the big four banking institutions of the US.
The formation of Citigroup Incorporation was quite dramatic with the merger of two big firms named Citicorp and Travelers Group. Citicorp was a banking giant whereas Travelers Group was a big financial corporation. Citigroup mainly focuses on providing the best financial services to its clients.
The services given by Citigroup, in general, include facilities like providing financial services to different people falling in the organization of government, corporate, institution, etc. They also strive to provide simple yet effective financial solutions to their clients.
Pros of Citigroup Inc forex:
Includes more than one brand for its clients to select from for forex trading.
The platform allows international trading of foreign currency with its wide working area.
Allows forex trading at $0 commission to its clients.
2. HSBC Holdings Plc
Founded: 1865
Headquarters: London
HSBC website
HSBC is acknowledged as the largest bank in Europe initiated in the year 1865. It is a multinational universal bank along with a financial holding British company. It is headquartered in London. The letters HSBC belong to the initials of its origin by the Hongkong and Shanghai Banking Corporation.
HSBC is one of the biggest banking service-providing companies with more than 64 countries covered and around 40 million customers served. The company mainly focuses on providing banking and financial services along with inventing new methods to make banking easy. It also allows different financial services like trading, private and investment banking, capital market, etc.
Pros of HSBC Holdings Plc forex:
Direct access to all facilities is provided rather than the involvement of any third-party service providers.
The process is made transparent and clear by the platform for easy use.
Can be accessed from multiple regions.
3. State Street Corporation
Founded: 1792
Headquarters: Boston
State Street Corporation website
State Street Corporation is counted among the oldest operating banking companies in the US. It was initiated in the year 1792 and is headquartered in Boston. State Street Corporation is counted as a financial service provider and a bank holding company.
State Street Corporation is ranked 15th among the largest banks in the United States. The firm is responsible for providing services like cash management, services revolving around international exchanges, financial assets management, and also provides investment advisory services.
Pros of State Street Corporation forex:
It provides fully automatic service that is 100% transparent for its customers.
The service is available in almost all major regions across the world.
Initiated in the year 1869, Deutsche Bank AG is a Germany-based financial service providing firm. It has its headquarters located in Frankfurt, Germany. The firm mainly works in the field of providing investment banking services along with other financial services to its clients worldwide.
Deutsche Bank AG is considered the largest financial service-providing firm in Germany and is also included in the list of largest banks in the world. The firm focuses on four different aspects of banking services including the investment bank, corporate bank, private bank, and asset management.
The firm helps government and private organizations along with small and medium-sized businesses by providing them with the needed services in the banking field to provide ethical and sustainable services to all.
Pros of Deutsche Bank AG forex:
The forex process is completely seamless and transparent with quick actions.
Provides competitive rates on the foreign exchange currency.
Provides swift transfer of funds through its platform.
5. JPMorgan Chase & Co.
Founded: 2000
Headquarters: New York City
JPMorgan Chase & Co. website
Initiated in the year 2000, JPMorgan Chase & Co. is the largest multi-financial bank in the world at the present year. JPMorgan Chase & Co. is an America-based multinational company focused on providing services related to investment banking services and financial banking services with its headquarters located in New York City.
JPMorgan Chase & Co. forms an integral part of the large four banks of America and is currently in the fifth position of the largest banks in the world for its assets. The firm mainly focuses on providing services like asset management, investment management, private equity, etc. The services provided by them are mainly targeted at individuals and businesses.
Pros of JPMorgan Chase & Co. Forex:
Services are provided worldwide.
Has different customizable options for easy understanding of the tools and news.
Provides access to the largest committee of currency pairs.
6. Barclays PLC
Founded: 1960
Headquarters: London
Barclays PLC website
Barclays PLC was introduced in the year 1960 as the universal multinational bank based in Germany. It has its headquarters located in London and is known to provide services worldwide.
Barclays is operated as two different units termed Barclays UK and Barclays international. The firm mainly focuses on providing services like retail banking, credit services, investment banking, wealth management, etc.
Pros of Barclays PLC forex:
Provides detailed market insight to their clients.
Has an excellent customer support system.
Includes different tools for foreign exchange risk management.
7. XTX Markets Limited
Founded: 2015
Headquarters: London
XTX Markets Limited website
XTX Markets Limited was introduced in 2015 as an algorithmic trading company with its headquarters located in London. XTX Markets Limited is a non-banking firm that still comes under the list of top liquidity providers for the foreign exchange market.
The services provided by XTX Markets Limited mainly focus on equities, foreign exchange, commodities, fixed income, derivatives, etc.
Pros of XTX Markets Limited forex:
The platform is multilingual and supports 26+ languages.
Provides fair and efficient services.
The platform is counted amongst the top 3 forex liquidity providers.
8. Goldman Sachs Group, Inc.
Founded: 1869
Headquarters: New York City
Goldman Sachs Group, Inc. website
Founded in 1869, Goldman Sachs is an America-based investment and financial service providing the firm with its headquarters located in New York City. The firm is quite famous for its investment in budding startups.
Goldman Sachs Group, Inc. comes second in the list of investment banks across the world due to its revenue. And is also included in the list of Fortune 500. The firm mainly provides services like asset management, commercial banking, investment banking, etc.
Pros of Goldman Sachs Group, Inc. forex:
Has a range of tools that helps its clients with a better estimation of trading platforms.
Has a demo account for the clients to work and experience the service of Goldman Sachs to try before.
They serve worldwide.
Currency composition of world FX
9. Standard Chartered Group
Founded: 1853
Headquarters: London
Standard Chartered Group website
Standard Chartered Group was established in 1853 with its headquarters in London. It is a universal bank known to operate a large chain of units. Standard Chartered is a Britain-based multinational company providing financial and investment services.
Standard Chartered Group is known to own a network of more than 1200 branches and outlets in different parts of the world. They cover more than 70+ countries. The firm mainly works in the field of providing services to corporate and institutional services only.
Pros of Standard Chartered Group forex:
They provide excellent guidance to their clients for a better understanding of the terms and strategies.
The platform is widely spread across the globe and can give access to multiple currencies.
Their help support is quite reliable.
10. UBS AG
Founded: 1998
Headquarters: Zurich
UBS AG website
Introduced in 1998, UBS AG is the largest Swiss banking instruction, also co-headquartered in Zurich and Basel. It is a multinational and Switzerland-based financial service providing company also focusing on investment banking.
UBS AG is the third largest bank in Europe. It focuses on providing services to private and government organizations. The services provided by UBS AG fall in the category of global wealth management, personal and corporate banking, investment banking, etc.
Pros of UBS AG forex:
They provide a worldwide network with a global franchising platform to sort out their client’s needs.
The platform keeps on updating from time to time to meet up the demands of the real world.
They provide excellent customer support along with the required guide to the platform.
11. BNP Paribas Group
Founded: 2000
Headquarters: France
BNP Paribas Group website
Founded in 2000, BNP Paribas Group was formed by the merger of two different firms named National Bank of Paris and Paribas. The initials BNP came from the National Bank of Paris and Paribas came from other parts of the merger. It is a French company with its headquarters in France.
BNP Paribas is counted among the top 10 largest banks in the world and is placed second as the largest bank group in Europe. It provides services focused on the category of commercial, personal banking, and services. It also provides services for corporate and institutional banking. It also works to provide investment and financial services.
Allows access to more than 130 currencies for the FX.
Provides optimal tools to make the process more efficient.
12. Royal Bank of Scotland Plc
Founded: 1724
Headquarters: Edinburgh
Royal Bank of Scotland Plc website
Introduced in 1724, Royal Bank of Scotland Plc is a major player in the field of the retail and commercial banking sector in Scotland. Its headquarters are in Edinburgh. Royal Bank owns more than 700 branches across the country of Scotland and a few branches spread out in the major towns and cities covering England and Wales.
Royal Bank of Scotland Plc works to provide services to trusts, charities, private companies, etc. Its services include online banking, investments, saving accounts, fund transfer, etc. The firm operates by the means of a large networked server including different branches, outlets, online communication, etc.
Pros of Royal Bank of Scotland Plc forex:
They provide services concerning more than 60+ currencies from across the world.
Customized solutions are provided by them to fulfill the needs of their clients.
Provides help with advanced tools to manage the account and get more insight to risk management terms.
13. Saxo Bank
Founded: 1992
Headquarters: Denmark
Saxo Bank website
Introduced as a brokerage firm in 1992, now called Saxo Bank is a Danish firm giving out services like investment and online trading. It is headquartered in Denmark and the firm operates as an online broker platform.
Saxo Bank is in connection with more than 180 countries and provides services like investment banking solutions, online platforms for trading and investment, etc. The firm is widely spread in different parts of the world.
Pros of Saxo Bank forex:
Saxo Bank is acknowledged as the best forex broker and has an online trading platform from multiple sources.
Has great tools to help their customers get their needs completed.
Multiple currencies are supported by the platform.
Conclusion
The word “Forex” stands for the combination of two words foreign exchange. Forex means changing the currency of one country into another. This method requires different terms and rules to follow than the normal currency exchange. Foreign Exchange of currencies is done because of many reasons but not many platforms are trusted for the process. The above article contains a list of foreign exchange companies with their features.
FAQs
What are the top 10 currencies in the world?
The top 10 currencies in the world are Kuwaiti Dinar, Bahrain Dinar, Oman Riyal, Jordan Dinar, Pound Sterling, Cayman Island Dollar, European Euro, Swiss Franc, US Dollar, and Canadian Dollar.
What is the foreign exchange market?
A foreign exchange market is a trading place where the currencies of multiple countries are bought and sold at different rates just like the stock market.
Which currency has the lowest value?
The least valued currency can keep changing concerning changes in currency value. However, at present time Iranian Rial is considered the lowest valued currency.
What is forex earning?
Forex earning means the profit earned by selling goods and products in the global marketplace. It can also mean the simple exchange of only currencies in the global market as per the demand and supply rule.
Money is the basic set of resources everyone needs. While there are two methods to make money, one is through hard, slow and honest work and the other is by duping people fast, people tend to choose the second. In this world where everyone wants to afford things fast it has been increasingly seen that people are trying to find shortcuts to everything. This, of course, is not the right thing to do. You cannot get rich tomorrow, by any means.
It is true that you need money to be stable and all. People all over the world try hard to amass as much as they will be needing in future. However, some notorious humans try to dupe the rules and regulations that are made to safeguard the integrity of the nation. They try to avoid taxes illegally, try to amass much money that is either illegally earned or hidden and transported by any means. This article talks about that issue, which has money as the epicentre.
The conflict of money laundering in this world. We will first develop a little understanding of what money laundering is and then we will discuss what has been the cases that had the largest impact on the world. This article will end with precautionary measures. Read on to learn something about the loophole called money laundering.
Money laundering can be defined as some window dressing that is done to the ‘money’, to make it appear as if it was legitimately earned. It is to ensure that illegally earned money (Or even black money) looks white and pure and looks legitimately earned. It is done with some tweaks to prevent any issues that might happen in any future transactions. Thus, Money laundering makes the illegally acquired money look as if it has been obtained genuinely.
This method can be used for more than one purpose like it can be used to change or hide the nature, location, source, situation and even the movement of criminal activity. It makes the proceeds that are earned from illegal activities look legitimate and legal.
In simpler terms, laundering is the process by which hides or converts illegally earned income. It helps criminals get away with getting their money a clean and clear image. The process of money laundering is a huge criminal behind all that is wrong in the world. It provides a safe and secure passage for all the proceeds that one can earn with bad works. Any activity that is illegal, wrong and criminal is effectively hidden by the means of money laundering.
It can be drug trafficking, or even as much heinous as terrorist funding, laundering makes it look legitimate and legal. Thus, the process of money laundering is something that converts the money (from any criminal activity) to money from a legitimate source, thereby maintaining the credibility of the money earned.
Laundering is a serious crime and is done in probably every country in the world. Not only is it illegal but it is also immoral. It is such a serious problem that it encompasses both the white-collar and the street-level criminals. The roots of this business run deep in many parts of the world.
How Does Money Laundering Work?
The process of money laundering is super important for tricksters and all the criminal organisations all over the world. It is their only way on which they can rely to get their illegal money in a legitimate manner.
They are so reliant on this method that they are even ready to pay a lot of money in return for laundering money for them. This is how much they are ready to launder their illegal money. This process is not often easy, it has to be done with precise work of hands.
Anything wrong here or there can demolish the whole organisation. To avoid any errors and issues, there are different phases through which it happens. There can be many illegal ways to launder money but some points in the process are always the same and constant. We here will discuss those three common touchpoints which are common in most money laundering cases –
There are three predictive points and those are –
Placement
This is mostly the first step in a money laundering process. The first is always the entry of illegal money into the system. As soon as illegal money is placed in a tight spot, it becomes necessary to layer it with a protective genuine financial system or to cover them in legal ways.
Layering
Layering refers to the layering that is needed to cover the fingerprints on the notes, not exactly but similarly to a criminal investigation. Layering is layering the money with various transactions and accounting or bookkeeping tricks. Any accounting loophole that can hide the source of the unaccounted money, is useful here. Not to mention that it is done by experts having good knowledge and bad intentions.
Integration
The cash that is laundered through layering it with multiple accounts and transactions are now withdrawn. It is withdrawn in order to return the proceeds to the original criminal that will look like legitimately earned money. This is the integration of money in one place.
All these three methods are the most commonly seen and mostly seen/abbreviated steps in the money laundering process. But it is here to note that there can be more steps than just these three. There can be more layers and more routes by which money is integrated.
Common Methods of Money Laundering Used by Criminals
Exports
There can be Exports that are faked multiple times, in fact, it is one of the common ways criminals do this. A fake export can look like the money is legitimate and is travelling to some other country or province in some official manner. It was very frequently used in Europe in recent years.
Stock Markets
Another unsaid method is via investing the money out. Stock Markets are the major regulator of money supply and the money can be hidden behind this big money machine. Anyone can purchase shares, stakes to bonds from stock market brokers in any part of the world. Noting that the Stock market has a ubiquitous approach in all its workings, more money can be transported and invested in these money markets. Stock markets capitalise on the transaction and make it look legitimate.
Expensive Paintings
If you are a Hollywood fan, then this method would be quite familiar to you. It is evident in movies that gangsters buy some expensive art to cover the money that they have. Thus, Antiques and paintings that are ridiculously expensive can be used too. Hide money or even turn the illegal black money into legitimate white money.
Electronic Means
Then comes the smart modern way of pulling out money laundering. That is, by Electronic means. It has become increasingly easy to transfer money to each other’s wallets. This has not to mention also eased the hard work of money launderers. Now you can just transfer money with a click of a button or a few taps. Electronic means provides a wonderful and magical opportunity to exchange money without revealing its true identity or form.
If you are a modern thief, this trick would come in really handy. Criminals can convert real money to untraceable digital money, which is super hard to trace. That illegal or black money can also be stored in a cloud of games and rewards. It can be distributed through auctions and sales through gambling websites.
Cryptocurrency
If you move ahead in technology and money transactions, you will hit a block. That block is no other than the blockchain. As the world of cryptocurrency rises, so do the concerns of money management all over the world. It is forecasted that it will become extremely easy to get away with black money in the form of cryptocurrencies. What can be worse? They are not even regulated with one organisation, it is power in the hands of people and what if they fail to manage the power. Although there are proper ledgers at place working overnight to record all the transactions, it still can be hard to track individuals involved in the theft.
Up till now, we have all learnt that money laundering is a complex process and can include many forms and types. This calls for some real study on scams that the world has witnessed already. Let us now discuss which tricksters (read criminals) were able to dupe the national security laws of money laundering. This is the history that saw some of the biggest cases of money laundering in the world –
HSBC
HSBC was one of the top firms that showed signs of money laundering. The organisation was tried by the senate. It came under the limelight in the year 2012 when the United States Senate triggered a search in its operations.
On further investigations, it was found that they were breaking AML laws. AML here is Anti-money laundering laws. It was found that the entity HSBC was found to be guilty of the following frauds and illegal activities.
Firstly, they offered banking services to clients hailing from Saudi Arabia, even after knowing the fact that the clients had contacts with terrorists. HSBC sanctioned money transactions from Iran and North Korea without raising any sort of ticket that signifies any issue with those transactions.
HSBC let a subsidy of them having relations with a Mexican counterpart go, even when that counterpart had ties with drug trafficking. HSBC ignored all the risky factors and let the relationship with such a threat of an organisation go without any issue.
The reports say that an estimate of about 881 million Dollars was laundered in summation. This was a huge amount and the entity was banned from any workings for the foreseeable future. HSBC was a reminder that every entity has to be regulated so that it runs according to the lines seated by AML laws. HSBC was fined $1.9 billion dollars for laundering money.
BCCI (Bank of Credit and Commerce International)
The name BCCI is an acronym for Bank of Credit and Commerce International. It is a name now long forgotten. It was however not the same in history. In the mid 19s, BCCI was the seventh-largest private bank in the world. In the mid-1980s the bank was found to be involved in some really serious business of money laundering and even drug smuggling.
BCCI was found with sums of money that were in billions in criminal profits. The name that is forgotten now is estimated to have hidden and laundered a sum of almost 23 billion dollars. This much money was laundered and the bank made a name for itself in the black market of thieves and money launderers.
It is reported that the bank was too picky of its clients, it had relations with some really big names in the industry. BCCI has been reported with relations with Saddam Hussain (Former military dictator of Panama Manuel Noriega) and Palestinian terrorist leader Abu Nidal. By 1990 BCCI was entangled in its own corporate structure and ran into obscurity. That was when the time came for its investigation.
The US Senate report says that Price Waterhouse started an investigation on this matter. The credit and commerce bank shut down its operations even before the investigations were completed.
Even after an early shutdown, the bank owed hefty amounts of fines due to the AML (Anti-money laundering) laws it broke. It was also reported that the CIA (Central Intelligence Agency) user accounts listed on the BCCI, to fund Afghan Mujahideen during their war with Russia (The soviet union) in the 1980s. On the land of money laundering accusations, the Bank of Credit and Commerce transferred about 20 billion dollars in money laundering
Nauru
Nauru Island
Nauru is the name of a tiny pacific island. It is about 1100 miles away from the coast of New Guinea. The place might be small and dingy but it is quite an epicentre of money laundering. This small land has been the go-to place for the highest-profile of criminals and gangsters. In the late 1990s, Russian criminal gang lords laundered about 70 billion dollars through banks that were registered in Nauru. Those banks were mostly called ‘Shell’ banks.
Shell banks are the banks that exist only on paper and nowhere else in real life. They cannot be traced on a map, nor do they have any physical office/branch in real life. Nauru even allowed those banks to record transactions without naming the people behind those transactions. This was done to incentivise more and more transactions. The small land of the Nauru coast of Australia turned into a shell corporation heaven for the Russian mafia. The place is now only known for being a money-laundering favourable place after being a natural resource hotspot.
After the US treasury found out about the illegal money business going on in Nauru, they imposed heavy sanctions on that land. Only to surprise, it was found that the penalties were even more than the penalties imposed on Iran (Another laundering place).
With factors like those of Shell Banks, and recording money transactions without account names, cooked all this hassle. All of the factors above made Nauru a safe place for money launderers. The island has been blacklisted and all the shell banks that were once there, are deregistered on the spot. Since 2001, Nauru has taken steps to clean up its act and has accepted financial aid from Australia.
Standard Chartered
Standard Chartered is one of the biggest banks in the world. This humongous financial institution was accused of helping out the Iranian government to launder an amount of about 265 billion dollars. This huge amount was reported to be laundered as there were not enough/sufficient checks at places. This lack of governance of checks and looks made this big money to be transported illegally.
When it was investigated and regulated by concerned authorities, the organisation paid about 350 million dollars in fines in 2012. Standard Chartered also paid 350 million dollars again in fines and settlements in 2014 for not improving their AML (Anti-money laundering) face and compliance with the assigned rules. After that, they improved their AML sector within the organisation and since then, it has been on a check.
Pablo Escobar
All the Pablo fans out there, do you know how big that criminal was. Pablo Escobar, the most successful criminal ever known to known history. He was so rich and had money in such amounts that it is said once, he spent 1000 dollars in a consecutive week on rubber bands which were used to hold up the bundles of cash that he had. Not to mention, his business was drugging and although the business was illegal, he was a master of the trade.
He was so good at the drugs business, it is reported that he once in time-controlled about 80 per cent of the world’s drugs business (Cocaine trade). With such a hold over the most profitable business, he had loads of money. And because of that, he was forced to make more ways to launder his money to look legitimate. He was so into money laundering that probably the epicentre of his business was just that, ‘Cash Laundering’.
The recipe that he followed in getting all the money back to himself was simple. He paid bankers some bribe to which they returned the favour by turning his black cash into legitimate money. In 1989, reports say that his personal fortune was worth about 9 billion dollars, which made him the seventh richest person in the world at that time. He died in a gunfight in 1993 with Colombian authorities.
Wachovia
It is now a part of Wells Fargo, Wachovia was among the biggest banks in the United States in the 2010s. The bank was found to have allowed drug cartels in Mexico to launder close to US$390 billion through its branches during 2004-2007. The drug cartels had one job specific to money laundering. They laundered money (Proceeds) that came from selling drugs in the United States to the other side of the Mexican Border. Then, they used money exchangers to deposit the money into their bank accounts in Mexico.
“Wachovia’s blatant disregard for our banking laws gave international cocaine cartels a virtual carte blanche to finance their operations,” said Jeffrey Sloman, the federal prosecutor. Yet the total fine was less than 2% of the bank’s $12.3bn profit for 2009. On 24 March 2010, Wells Fargo stock traded at $30.86 – up 1% on the week of the court settlement.
At the Mexico border, the requirements were not clear and regulated which added to the money laundering situation. The regulatory requirements with regard to the source of funds were not on par with current standards. Later on, the money that was transported to Mexico was roped in back to Wachovia’s accounts in the US. The total money laundered by this bank amounted to 390 billion dollars.
Now you must be thinking about what happens if the situation is not controlled, and that is a legit question. If money laundering is not stopped, it can raise havoc. How? Let us find out –
When some money is unaccounted for and lies around in society, it can be used for any purpose. The intentions can be constructive as well as destructive. Depending on the purpose, it can create a ruckus for the society we live in.
As we all know, money can be used as an incentive for many things, it can be an incentive for good things, hardworking and it can also be an incentive for bad things for society. In that situation, the social and political cost of such money can be severe.
In addition to that factor of thought, money laundering can weaken society as a whole. It can lower the boundaries of social and collective ethical standards. In developed countries, it can be efficient and effectively used in terrorism and any sort of destructive activity or behaviour.
On the other hand, if unaccounted money or money laundering is in an underdeveloped country then it can be serious damage to the progress of the country and the integrity of such a nation. For example, those examples can be disastrous in the second most populous nation, India.
What are the Precautions for Money Laundering?
There can be precautions as well for this money laundering influence. These precautions can lead to a safer environment for all, the government and the citizens. Let us discuss some of the precautions that are advised by experts and are worth a read –
Tax Evasion
First of all, the process of one laundering starts from the intention of tax evasion. At the heart of the issue is hiding the income to save some pennies of taxes. This has to be completely stopped. Tax evasion has to be stopped in all steps of production to consumption. This will help make people aware of the monitoring. This will also reduce significant money movements from one place to another.
Local governments should be held accountable for the money management of an area. They have to be fully authorised as well to do their duties on full throttle. For this purpose, the government and the media can work hand in hand to be more effective in maintaining the secrecy of sensitive topics.
Reducing Tax-free Earnings
The private sector has to be regulated as well. Cartels should be prevented and any sort of underground economy should come to an end. This can be done by reducing the tax-free earnings as much as possible in nature. This can be hard for developing countries, as they rely on taxes for development but they can do small changes as well.
AML(Anti-money laundering)
Businesses can protect themselves by strictly accounting for all the transactions as well as adhering to the AML(Anti-money laundering) norms. For which they can use the AML software available in the market such as Sanction scanner and many others available throughout the internet.
AML (Anti-money laundering) Initiatives
Throughout the article, we have mentioned something called AML, we did mention it but what it is actually? Anti-money laundering is a set of initiatives that rose to global prominence in the year 1989. They were formed by a group of companies and countries who were concerned about the issue. It is an entailing part of the Financial Action Task Force (FATF). The mission of which is to prevent and control the money transactions that are unrecorded and benefit from money laundering all around the world. In October 2001, following the 9/11 terrorist attacks, FATF expanded its mandate to include combating terrorist financing.
Another important organisation that controls the fight against money laundering is the IMF or the International monetary fund. Just like the FATF, the IMF also runs on a mission of preventing money laundering as they assert influence on countries and corporations to act according to the accepted international standards.
Laws like these are effective and work in a manner that prevents market manipulation, trade in illegal goods, corruption on public funds and even tax evasion on a global level (large scale).
Laundering is a serious crime and is done in probably every country in the world. Not only is it illegal but it is also immoral. It is such a serious problem that it encompasses both the white-collar and the street-level criminals. The roots of this business run deep in many parts of the world. With this rooted problem, it can be a serious hindrance to the development of countries and even corporations at a smaller level.
There are many international corporations like the FATF (Financial Action Task Force) and IMF (International monetary fund) trying to influence these numbers. Reading the history of money laundering, it is threatening that it can happen today too. In this world where we talk about decentralised currency as the new currency. It is going to be hard to prevent such happenings in today’s world. It does not just harm corporations and societies but even the society and constituents of society.
FAQ
How does money laundering cash work?
The money that needs to be laundered is carried into foreign bank accounts in small amounts and then is transferred back to where it came from.
What is the most common way to launder money?
The most common ways to launder money is investing in gold, investing in stocks or transferring money to foreign bank accounts.
Is laundering money illegal?
Yes, Money laundering is illegal as the laundered money can be used for illegal activities.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by HSBC-backed Serai.
The global textile market size is anticipated to reach USD 1412.5 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028. Disrupting the supply chain solutions in this domain, HSBC-backed company Serai has built a digital B2B platform that allows verified apparel buyers, brands, suppliers, and manufacturers to easily search for and connect with each other.
Serai is the non-banking extension of HSBC’s global physical network and hence is a fully owned subsidiary of HSBC. While the company is a part of HSBC Group, it is not a financial institution and acts outside the bank. It has over 10,000 companies on its B2B platform from over 100 countries including India, Bangladesh, the US, UK, and Australia. The number of companies on the platform has grown at 98% QOQ. In 2021, Serai also launched a Traceability solution that allows global apparel brands and manufacturers to trace and map their global supply chain from raw material to finished product
StartupTalky interviewed Mr. Vivek Ramachandran (CEO of Serai) to know the growth story and roadmap of Serai. He also shared insights on how Serai started, its business model, expansion plans, marketing strategies adopted & more…
Serai – Company Highlights
Company Name
Serai
Headquarters
Hong Kong
Owner
HSBC
CEO
Vivek Ramachandran
Founding Team
Andrew Dennison (COO), Kar-Lyn Tan (Head of Product Partnerships), Patrick Balling (Partnerships Director), Vivek Ramachandran (CEO)
Founded in 2019, Serai is the digital B2B platform by HSBC that makes global trade easier for apparel businesses. As a member, you can build new relationships and strengthen existing ones. Companies can share information about their business, products, and services to create a trusted ecosystem across the supply chain.
Through a single platform, members can access industry business solutions and exchange complex information from multiple data sources to gain visibility into their supply chain.
Serai Platform
Serai’s digital B2B platform allows verified apparel buyers, brands, suppliers, and manufacturers to easily search for and connect with each other. Companies can create a profile to showcase their products, services, facilities, and credentials. Serai helps companies reduce time and money spent on sourcing high-quality suppliers. With Covid making international travel almost impossible, Serai makes it easy for brands and buyers to build relationships with suppliers and manufacturers globally.
This year (2021), Serai also launched a Traceability solution that allows global apparel brands and manufacturers to trace and map their global supply chain from raw material to finished product. They can easily collect and manage data from their supply chain partners. Having all this information in one place can help them drive operational efficiencies, manage underlying risks and eventually achieve greater transparency and trust in their extended supply chain.
Serai’s vision is to build technology that can help to shape the future of trade.
Its B2B network aims to simplify global trade by enabling apparel businesses to showcase their products and services, connect and build stronger relationships. Its supply chain solutions help consolidate fragmented supply chain data, providing large apparel companies with the right data and insights so that they can make more informed decisions.
“It’s all about taking the complexities out of global trade. Beginning with a focus on the apparel industry, Serai’s goal is for every company, regardless of industry, to have a profile on its platform” says Vivek Ramachandran, CEO @ Serai
Serai – Industry Details
Serai currently focuses on the apparel, textile, and fabrics industries. The global textile market size is anticipated to reach USD 1412.5 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028. The Asia Pacific is also set to rebound faster from Covid, with China, Japan, and India dominating the top five apparel markets in the world.
The apparel industry has always been quite traditional and opaque. Businesses have always relied on sourcing garments and fabrics in person. However, travel restrictions brought about by Covid-19 have forced businesses to digitize. The team has seen a huge change in mindset where apparel companies are more open to exploring new ways of forming connections and doing business.
On the other hand, there is also rising pressure from regulatory bodies, consumers, and NGOs for the apparel industry to be more transparent about where their products come from. They see large brands and manufacturers exploring technology that helps them track their supply chains from end-to-end, and gain visibility into where their products come from. These have been positive changes and the team sees the industry continuing to head on this trajectory.
“In the next five years, we also imagine that data will play a bigger part in driving more informed decision-making. For example, the insights could help them understand their consumers better and build a more targeted product mix” Vivek added.
Supply chain data on areas such as consumption of water, energy, and greenhouse gas, or man-hours spent throughout the various stages in the supply chain, can help companies increase operational efficiencies or be more sustainable.
Serai’s digital B2B platform allows verified apparel buyers, brands, suppliers, and manufacturers to easily search for and connect with each other. Companies can create a profile to showcase their products, services, facilities, and credentials. Serai helps companies reduce time and money spent on sourcing high-quality suppliers. With Covid making international travel almost impossible, the Serai B2B network makes it easy for brands and buyers to build relationships with suppliers and manufacturers globally.
This year, Serai also launched a Traceability solution that allows global apparel brands and manufacturers to trace and map their global supply chain from raw material to finished product. They will be able to easily collect and manage data from their supply chain partners. Having all this information in one place can help them drive operational efficiencies, manage underlying risks and eventually achieve greater transparency and trust in their extended supply chain.
Serai Traceability
Pivot from the Initial Offering & Why
While its mission has always been to simplify global trade through technology, Serai’s target audiences have evolved for its B2B digital platform.
While it has apparel businesses of all sizes on the platform, Serai has seen more usage from small and medium-sized companies. They may not have the sourcing network that a larger, more established brand would have, and so, have seen a lot of value from a platform like Serai’s. Hence, many of the features that Serai introduced recently are focused on helping them further. For example, Serai launched a request for quotation (RFQ) feature where brands and buyers can upload specific requests for manufacturers and suppliers to respond directly to.
Serai’s Traceability solution is another example of something it built in response to industry requirements. It was initially developed to help a global manufacturer client to trace their supply chain from material to shelf, but having seen such a positive response from the industry at large, the team @ Serai continue to build on the core offering, adding more modules aimed at helping apparel companies achieve supply chain sustainability.
Serai – Founding Team and How it Started
HSBC was founded in 1865 with one key objective – facilitating international trade. Ever since HSBC has used its global network to connect customers to opportunities around the world. However, despite tech-driven improvements in most areas of business, international trade remains as complex today as it was more than 150 years ago.
To simplify trade, HSBC needed to look beyond banking. Serai was born from this insight and a big idea – a data-powered platform to help businesses grow and connect globally.
The idea for Serai came out of a ‘Dragon’s Den’-style competition organized by HSBC UK. Vivek Ramachandran, current Chief Executive Officer of Serai, led a team of four in pitching the idea of a digital platform aimed at simplifying trade. At that time, he was the Global Head of Growth & Innovation for HSBC Commercial Banking where part of his role was driving the adoption of new technologies.
Serai team
While HSBC’s key objective has always been to facilitate global trade, this would be the first time the bank would invest in a non-financial project. The HSBC executives saw great potential in a platform like Serai to disrupt the otherwise traditional industry of apparel.
The rest of the founding team comprises – Andrew Dennison, Chief Operations Officer; Kar-Lyn Tan, Head of Product Partnerships; and Patrick Balling, Partnerships Director at Serai. They were all working at HSBC UK in various capacities at that time.
In two years, Serai has grown to about 60 people in its headquarters in Hong Kong in various departments such as Growth & Marketing, Product, Technology, and Data Analytics. Serai was founded on the values of Simplicity, Empathy, Transparency, Boldness, Partnership which remain integral in everything Serai does.
Serai Office
Serai – Name, Tagline and Logo
Serai comes from the word Caravanserai, which was inns along the Silk Road. Merchants between East and West would rest, trade goods, exchange knowledge, and build relationships at these inns. The Serai of that time was an entry to international trade. Inspired by these ancient hubs, it aspires to build a digital equivalent for today.
Serai’s logo symbol is inspired by the aerial view of the ancient Serai. The central squared hole resembles that of an ancient Chinese coin, reflecting its Hong Kong origin.
Serai Logo
Its tagline, ‘Your Advantage in Apparel Trade’, clearly represents what Serai wants to deliver to its clients.
Serai – Business Model and Revenue Model
Serai is the digital B2B platform. Creating a profile on Serai is free. However, businesses can pay for premium services such as being promoted as a featured business on its platform or gaining access to data and analytics to help them further grow. Serai’s supply chain solutions, such as Traceability, also come at an added cost.
At Serai, the team has always taken an integrated approach to its marketing strategy. While it is a global company, Serai believes it’s incredibly important to localize its marketing for its target markets. This is especially pertinent for a diverse region like the Asia Pacific, where one has to cater to various languages, cultures, and audience preferences.
When we first started, our primary objective was to build brand awareness so we engaged the main trade and business media globally to get media coverage” says, Vivek Ramachandran, CEO @ Serai.
The company also saw success through digital marketing campaigns via channels such as Facebook, LinkedIn, and Google which has helped in customer acquisition.
Partnerships are also key to Serai’s growth strategy. The company has established good relationships with local trade associations in its focus markets, working with them to run initiatives and marketing programs that support the manufacturers and brands in the apparel industry. Another focus area has been to develop partnerships with other like-minded technology and data providers, and sustainability-focused organizations to collaborate on developing solutions that support its users to learn and understand their potential and existing supply chain partners.
Serai’s marketing mix continues to be a mixture of digital and offline activities aimed at increasing brand awareness and customer acquisition including paid ads on major social media and search platforms, events and media engagement. With all these initiatives, though, it’s important to ensure they are integrated and convey similar messaging. This has helped the company build a strong brand identity.
Events have played a huge part in increasing its brand awareness. The company has taken part in major industry conferences and organized its own webinars. In India, for example – the company ran a webinar on how Indian apparel businesses can grow through digitization earlier this year. Serai is currently looking at participating in upcoming trade conferences in India.
Naturally, the marketing team has grown over the last two years so there are teams dedicated to areas such as content, digital marketing, events, PR, and partnerships. It has ramped up content creation, with topics localized for focus markets. Partnerships with major industry associations such as the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Apparel Export Promotion Council (AEPC) in India have also helped the company reach a wider audience.
The apparel industry is one that is very traditional and opaque. The team realized at the beginning that a lot of companies rely on traditional methods of sourcing and connecting with companies. There was a low digital quotient across the industry.
“We’ve seen this slowly change, though, with more companies embracing digitization. We had to do a lot of education on the importance of having a strong digital presence” Vivek Ramachandran added.
This included working closely with many of its MSME clients in helping them create strong digital profiles on Serai’s platform and making meaningful connections to help grow their business. There is definitely an appetite for them to improve which is heartening.
Serai – Current State and Expansion Plans
Serai is headquartered in Hong Kong, with a team of about 60 employees – a number that is rapidly growing as Serai continues to build its Technology, Data, and Product teams.
There are over 10,000 companies on Serai from over 100 countries including India, Bangladesh, the US, UK, and Australia. Out of this, Serai has registered over 4600 are Indian companies on its platform. These include leading Indian manufacturers such as Pearl Global, Shivalik Prints, Radnik Exports, and Indian Designs. The number of companies on the platform has grown at 98% QOQ.
Serai’s expansion strategy is aligned with market demand. Most of its business is centered around countries that are major apparel hubs. Being headquartered in Hong Kong, it was a natural focus in the beginning. While it still is, the company has branched out to Bangladesh and India as there are two major manufacturing hubs in Asia. India will continue to remain a huge focus over the next year. Over in the West, it has focused on the US and the UK as many major apparel brands are based there.
“We will continue to monitor trends in trade corridors as we prioritize market expansion” Vivek added.
The team is also continuously building new features for its solutions. For the B2B digital platform, it is adding features that encourage more interaction between its member companies, making it easier for them to network and trade with each other.
Serai would also be launching a supply chain Visibility solution soon which allows apparel businesses to visualize, analyze and verify information on their supply chain in one place. With supply chain sustainability and transparency being huge priorities for the industry, this is an area that would be a key focus in terms of product development.
Serai has built great partnerships with industry associations such as the BGMEA and AEPC, with whom it has collaborated to help apparel companies in Bangladesh and India grow respectively. However, the company’s greatest achievement would be the rapid and tremendous growth it has seen of companies joining and building relationships with each other on the platform. Serai was established to simplify trade and the team is doing that slowly but surely. Serai has seen various success stories over the last few months of apparel MSMEs who have established new business partnerships with companies all over the world.
Serai – FAQs
What is Serai?
Serai is the digital B2B platform by HSBC that makes global trade easier for apparel businesses. As a member, you can build new relationships and strengthen existing ones. Companies can share information about their business, products, and services to create a trusted ecosystem across the supply chain.
Who founded Serai?
Vivek Ramachandran, the current CEO of Serai, led a team of four in pitching the idea of a digital platform aimed at simplifying trade. The rest of the founding team comprises – Andrew Dennison, Kar-Lyn Tan, and Patrick Balling.
What is Serai’s business model?
Serai is the digital B2B platform. Creating a profile on Serai is free. However, businesses can pay for premium services such as being promoted as a featured business on its platform or gaining access to data and analytics to help them further grow. Serai’s supply chain solutions, such as Traceability, also come at an added cost.
What is Serai’s tagline?
Serai’s tagline, ‘Your Advantage in Apparel Trade’, clearly represents what Serai wants to deliver to its clients.
Is Serai free?
Creating a profile on Serai is free. However, businesses can pay for premium services such as being promoted as a featured business on its platform or gaining access to data and analytics to help them further grow.
What is Supply Chain Traceability solution?
Serai launched a Traceability solutionthat allows global apparel brands and manufacturers to trace and map their global supply chain from raw material to finished product. They can easily collect and manage data from their supply chain partners.
