Archive: August 26, 2022

BharatPe expands footprint to 400 cities across India

India, August 2021: BharatPe, India’s leading fintech company for merchants, today announced that it has expanded its footprint to 400 towns and cities across India. The expansion is in line with the company’s commitment to driving financial inclusion across Bharat by enabling wider adoption of digital payments as well as addressing the credit gap for SMEs and offline retailers. The company also shared that it has recorded consistent growth in payments TPV and has recently achieved the milestone of US$ 20 bn in annualized TPV.

Last year, BharatPe had announced that it aims to scale its presence to 300 cities by March 2023. The company has aggressively expanded to tier-2, 3 and 4 towns and cities since then, as it believed in the opportunity that tier-2 and beyond towns and cities of the country had to offer. The company has rolled out its UPI QR payment acceptance service and loans to merchant partners in the new cities in the first phase. BharatPe also plans to top up these services with other fintech products like BharatSwipe in the second phase over the coming months.

Commenting on the company’s expansion, Nishant Jain, Chief Business Officer, BharatPe, said, “In line with our endeavour to drive financial inclusion amongst the unbanked and the underserved merchants of Bharat, BharatPe has been expanding its reach and taking UPI QR to tier-2, 3 and 4 towns and cities of the country since 2020. Last year, we had set a target of expanding our footprint to 300 cities by March 2023. I am happy to share that we have not only been able to achieve this milestone much ahead of time, but also surpassed it by a mile. This is a great motivation for a brand like ours that is built on the ethos of empowering MSMEs, offline merchants and kirana store owners of the country who we believe are the key growth drivers of the economy.”

Added Nishant, “We stay committed to building Digital India and are working aggressively to take digital payments to the merchants of Bharat. We are seeing steady growth in digital payments. Our annualised TPV in payments has reached US$ 20 billion recently, up from US$18.5 bn in June end. With the wide expansion across the length and breadth of Bharat, I am confident that we will witness continued growth and will easily surpass our target of US$ 30 bn in payments by March 2023. I am a firm believer of the fact that the next stage of growth for our business will be driven by tier-2, 3 and 4 towns and cities and hence, we will continue to focus on enabling credit for merchants in these areas as well as build new-age fintech products that can further empower their growth story.”

BharatPe has been on an exponential growth trajectory and recently closed one of its highest growth quarters. It facilitated over INR 3600 Cr in loans in Q1, FY23; recording a staggering growth of 112% over the last quarter (Q4, FY22). The company facilitated disbursals to over 1.2 lac merchants in Q1, FY23, up from 66,000 merchants in the last quarter of FY22. BharatPe also hit an all-time high of US$ 18.5 bn in annualized TPV in the quarter. The company also recorded consistent growth in its other business lines including card acceptance POS businesses (BharatSwipe) and its Investment Platform for merchants (growth of over 30% vs. the last quarter).

Deepak Fertilisers And Petrochemicals Corporation Limited takes home the honours at ISM-CPO Awards 2022

Pune, August 2022: Deepak Fertilisers And Petrochemicals Corporation Limited (DFPCL) took home the honours at the coveted Institute for Supply Management – Chief Procurement Officer (ISM-CPO) Awards 2022. More than 85 organizations across Manufacturing, Technology and Banking services were vying for the honours across 15 categories at the Awards that are regarded as the highest honour in the Procurement domain. DFPCL won the Award in three categories – ‘Excellence in Supply Chain Initiative’, ‘Outstanding Cross Functional Collaboration’ and ‘Excellence in Use of Technology’.

Commenting on the win, DFPCL Executive Vice President Mr. Arun Bhanumurthy – Strategy & Transformation, said, “It is a matter of great pride to receive these awards from Institute of Supply Management, one of the highest honours in the procurement domain. The awards are testament to our commitment to developing future focused solutions that drive value for our stakeholders across the board making us their ‘Partner of Choice’. Awards and recognitions like this only fuel our desire to further raise the bar in everything we do, setting new industry benchmarks in the process.”

DFPCL won the ‘Excellence in Supply Chain Initiative’ Award for showcasing an end-to-end demand led supply chain that positively impacted the entire cycle by driving excellence in demand forecasting, logistics and supply chain risk. The company won the Runners-up in the ‘Outstanding Cross Functional Collaboration’ category for showcasing its Project Galaxy that facilitated internal collaboration, setting the stage for organization success through a collaborative approach. DFPCL were also Runners-up in the Excellence in Use of Technology category where it showcased the effective use of latest tools and technology as an enabler that could successfully influence outcomes across functions, teams and geographies within the Organization.

The Institute for Supply Chain Management (ISM) is the world’s first and biggest non-profit professional supply management organization. Founded in 1915, ISM has over 50,000 members across 100 countries. CPO Awards have gained industry-wide acclaim and have evolved into one of the finest distinctions in procurement.

Woot Factor Brand Architects executes the LIT Credit Card launch of The AU Small Finance Bank

Woot Factor Brand Architect, Woot Factor Brand Architects – an experiential, strategic communication and an event company., successfully conceptualized and executed the launch of AU Small Finance Bank LIT (Live-It-Today) credit card at the Trident, BKC, Mumbai on 22nd June 2022, alongside Sanjay Aggrawal, MD & CEO, AU Small Finance Bank, Mayank Markande, SBU head, AU Small Finance Bank, Uttam Tibrewal, Executive Director, AU Small Finance Bank and Rishi Dhariwal, Group head Liability, AU Small Finance Bank.

The LIT Credit Card, the newly launched product from AU Small Finance Bank, is aimed at Gen Z and Millennials. Its primary selling point is that each cardholder can customise the credit card features as per their ever-changing lifestyle requirements instead of predefined features.

The Woot Factor Brand Architects team brought the launch to life with an interactive LIT and CUSTOMIZE concept.

Amit Relan, Co-Producer, Woot Factor Brand Architects said, “It was great to partner with AU Small Finance Bank and manage the esteemed launch of LIT credit cards. We at Woot Factor Brand Architects strongly believe in experiential concepts that enable our clientele to connect with stakeholders in a more meaningful manner. An event is nothing but a meeting point with the brand and we have always strived to deliver the most ‘appetizing’ experiences stay with people. We are grateful for the opportunity to unveil one of their big ticket products and look forward to a sustained and long term association with them.”

At the pre-event engagement activity, the Woot Factor Brand Architect team designed and built a 3 feet tall mock-up of AU’s LIT credit card with self-illuminating side lights adhering to the concept. Participants could glue magnetic cards with the features of the recently introduced card printed on them to the mock-up. The event was thoroughly loved by the participants, who even took pictures with the enormous LIT credit card installation. Alongside, they also set up a mash machine that guests could use to create and play their own music, turning into an in-the-moment DJ.

The LED drummers created a magical pre launch environment by revealing the keywords Live It Today following which the MD and CEO revealed the card on stage. The credit card director accompanied him for the same.

The Right Tax Structure for Online Gaming Industry can boost tax revenues: ASSOCHAM & EY Report

25th August 2022, New Delhi: According to a joint report by ASSOCHAM & EY, titled ‘GST on Online Skill-Based Gaming’, GST Council’s Group of Ministers (GoMs) are examining the GST on online gaming. One of the considerations by GoM is recommending a levy of 28% Goods and Services Tax (GST) on the complete contest entry amount including the prize pool, which can have an adverse effect on the industry. Levy of GST on the contest entry amount would increase the tax burden on the nascent industry by 10 to 20 times. The industry currently pays GST at the rate of 18% on the platform fee or the Gross Gaming Revenue (GGR) earned directly by the gaming operators.

The report estimates that the industry contributes more than Rs 2,200 crores of GST in 2022 and the winnings from online games are subject to Income Tax, which also contribute a significant amount to the exchequer.

The report has also listed out the unique features that set online skill-based gaming apart from games of chance. It entails technology solutions that are provided by operators to enable user-interface as well as build a gaming ecosystem and act as facilitators. The fee charged is a fixed consideration and is not dependent on outcome. Its success is also dependent on the superior knowledge of the user and engagement with the game, making skill the predominant element.

The report notes that the proposed levy of tax at 28% from 18%, along with 30% income tax on winnings, takes the rate of taxation on online gaming between 45-50%. With the GST tax proposal leading to higher taxation, it could lead to a decline in active users and discourage domestic gaming industries.

According to recent industry estimates, there are 500 gaming companies in the country, which have provided employment to thousands of people and have also seen an inflow of Foreign Direct Investment (FDI) worth US$2.7 billion. However, they are likely to be impacted by high taxations and would open doors for offshore operators. The report states: “This sector could also help in facilitating the GoI’s vision for the Animation, Visual Effects, Gaming and Comic (AVGC) sector and encourage the domestic players rather than driving users to foreign companies/ offshore platforms; thereby enhancing government’s revenue collection.”

Speaking about the report, Deepak Sood, Secretary General ASSOCHAM said, “The ASSOCHAM-EY report on the impact of GST on online skill-based gaming is quite revelatory. The growth of the online gaming industry comes as no surprise as it’s largely youth-driven and has been fuelled by the increasing usage of internet and smartphones, especially during the pandemic. India is expected to become one of the world’s leading markets in the gaming industry, which also bodes well in terms of a robust Digital Economy GDP as well as an employment-generator. Therefore, any step that the government takes to strengthen the sector through an optimal tax structure is welcome.”

The report asserts that the right tax structure can have a positive impact on the industry and drive tax revenues. “The crystallisation of the GST valuation mechanism could be a catalyst in enabling ease of doing business and spur growth of this rising sector,” it concludes.

Urology Problems in Men

By: Dr S K Pal, Urologist, Apollo Spectra Delhi, Nehru Enclave

As men become older, their health needs to be evaluated from time to time. Did you know? Men’s prostate gland changes over time, affecting their urinary and sexual functions. It is the need of the hour to consult a urologist and take charge of your health. Ignoring your health can land you in trouble.

Men often neglect their urinary health. It isn’t the manliest topic to discuss. Whether you’re going for an annual checkup or for a specific reason, it is always necessary to make your health a priority as you age. There are no major symptoms to alarm. Thus, an annual checkup with a urologist is the only way to help to spot various long-term issues in men that can rob their peace of mind. These are some of the urological problems that men need to be aware of.

Know about these common urological issues in men 

• Kidney stones: Are seen when the chemicals present in the urine crystalize and turn into stones. These stones will be small in the beginning and can become larger later. The symptoms of kidney stones are episodes of severe excruciating pain in the loin or passage of blood in the urine. Pain is often associated with nausea and vomiting. When the stones drop down into the urinary tube (ureter), patient feels a constant desire to pass urine and has to go often. Risk factors for kidney stones are very low consumption of water, dehydration, frequent urinary tract infections, blocking in the urinary tract, or having a family history.

• Erectile Dysfunction: It is also one of the common reasons for which men visit urologists. Here, men are not able to maintain an erect penis, sufficient for satisfying sexual intercourse. Erectile dysfunction can stem from stress, aging, low testosterone, prescription medications, or medical conditions like diabetes. It is managed with an oral medication that increases the blood flow to the penis. However, injections in the penis, testosterone replacement therapy, or a surgical procedure can be of help for selected specific individuals.

• Enlarged Prostate: Benign prostatic hyperplasia (BPH), or an enlarged prostate, is seen when the cells in your prostate gland multiply and begin to grow in size when the age advances. Prostate surrounds the beginning of urinary tube (Urethra) all around. If an enlarging prostate starts growing inside , it occupies the interior of the urinary tube and starts blocking the free flow of urine. With an enlarged prostate, you are likely to experience symptoms such as poor, dribbling, non projectile, interrupted flow of urine, frequent urination at night , or the sensation of incomplete emptying of bladder. Your treating doctor will decide about the right kind of treatment for you to help you tackle this condition, before the urine starts flowing back into the kidneys causing serious kidney damage and need for dialysis.

• Prostate Cancer: Strikes when the prostate cells begin to multiply uncontrollably. Early detection can be helpful in successful treatment. Are you aware? This type of cancer can be challenging to detect in the early stages because of the absence of any symptoms whatsoever. A very simple and widely available blood test named -Prostate-Specific Antigen (PSA), done annually after the age of 40 in men , can be helpful in detecting this cancer at an early stage and initiating right treatment at right time to obtain cure from this cancer.

IIM Shillong Organizes International Marketing Conference 2022 (IMarC2022)

26th August 2022, Shillong. The Indian Institute of Management, Shillong formally concluded its 2nd Edition of the virtual International Marketing Conference (IMarC) 2022 today. The two-day conference was preceded by a two-day workshop, that gave the research scholars a great opportunity to connect with and learn from some of the greatest researchers in the world.

Prof DP Goyal, Director, IIM Shillong opened the session, and Prof. Subhadip Roy, IIM Ahmedabad delivered the keynote address in the inaugural ceremony held on August 24th, 2022. The Chief Guest on the 2nd day of the conference, Prof. Nripendra Rana, Professor, College of Business and Economics, Qatar University delivered the Valedictory Speech.

Speaking at the event Prof. Subhadip Roy said, “Developing countries like India are emerging as major contributors to the global industry’s rapid growth. In this situation, the factors that affect inclusive marketing are of particular interest to academics, researchers, and marketers.”

Prof. Roy continued to explain that “the Conceptual, quantitative and qualitative survey-based, qualitative experimental, and quantitative secondary data, that should all be used in research. The goal of this study is to integrate ideas from information systems and marketing research into a framework of varied economics, society, and culture.”

The conference was a participatory event. Students and scholars from all throughout the nation delivered papers during the conference. There was discussion on a wide range of subjects like Inclusive Marketing, Contextual Research, The Efficacy of Customer Relationship Management, Digital Marketing, Brand Orientation, Contemporary Research in Marketing and many more.

Prof. DP Goyal, Director IIM Shillong said, “the conference aims to explore what has driven productivity, economic integration, migration, employment, and living standards. We must prioritize each person’s needs while adopting an all-inclusive strategy. Whether we simply need to grow or diversify should be clear to us”.

In order to comprehend the bigger problem that the service is aiming to address, he proceeded to stress the importance of contextual research and observation.

“While elaborating on the importance of research and the three “I”s of innovation, inclusion, and integration he explained that consumers, practitioners, and other stakeholders should be aware of the standards for the research”, he further said.

Mr. Sushant Kumar from IIM Raipur won the IMarC 2022 Best Paper Award for the paper titled “We trust you! Role of non-coercive power of shaping trust in channel relationship”.

In addition to extending a warm welcome, Prof. Nripendra Rana, College of Business and Economics at Qatar University, expressed gratitude for the opportunity to participate in the educational conference that examined the many facets of the contemporary and multidimensional era.

Prof. Rana continued by saying that one should never stop working because every task completed would eventually be recorded in a journal.

This conference intended to bring together research scholars and academicians to examine unique viewpoints that can assess the processes that will support futuristic ideas with an ethical and inclusive lens in order to continue highlighting the need for equality and relevance.

Are social media creators more influential than celebrities

The creative economy is booming with new ways for creators to influence their followers authentically.

We are all aware that social media has become ubiquitous in the twenty-first century. Since the introduction of several open platforms like Instagram and YouTube, there have been a large number of social media influencers. These influencers provide interesting material for their viewers while constantly grabbing attention. According to the largest living generation of consumers, social media creators, not superstars, influence our culture and determine trends.

Pushppal Singh Bhatia from That Couple Though; one of the popular social media account holders from Jalandhar, Punjab, adds, “We have to develop a thick skin and dedication to our compassion to get outreach and an audience to rely on our work. A lot of celebrities are not able to indulge and provide attention to their followers.” His better half in real & social media life, Ravneet Kaur, added, “Effective influencers have high levels of engagement rather than a large number of followers. Influencers participate in conversations, answer questions, and provide in-depth perspectives, unlike the majority of celebrities.”

The 78 million-strong generation known as millennials trust and relate to social media producers more than celebrities from movies, television, sports, or music. While conventional superstars may have more name recognition among the general public, they lack the trust of younger viewers that social media innovators have. Thanks to the ongoing development of new technology, we have developed into a society where information is at our fingertips. Anyone seeking it can find everything from cooking to DIY (do-it-yourself) crafts to fashion. Some “micro-celebrities” have emerged as a result of a large number of social media users and content producers. There is a reason why they are referred to as “influencers.” They have a sizable following that they can sway with their primarily video-based material. Influencers then continually expand their audiences thanks to the sharing of their material by their current admirers. Sharing is therefore the main factor driving the success of many new influencers.

The typical celebrity’s days are clearly numbered. The online star is quickly gaining clout. Marketers and those attempting to ride a celebrity’s status cannot ignore this. If they do, they will eventually slip into nothingness. And with both established and developing businesses, attempting to draw attention to their products, the ability to use these platforms, reduce marketing costs, and attract huge audiences is critical.

Influencers on social media occupy a space between celebs and friends. They are viewed as aspirational figures as well as people with whom the customer has developed a relationship via regular engagement. Social media artists form ties with their followers based on common interests, interactions, and responses to the material that they generate on channels they own. This is just not doable with traditional media celebrities. Although conventional celebrities have historically had a significant impact on pop culture trends in our society, new social media stars have recently been able to attract a larger audience and exert a stronger influence on pop culture than traditional celebrities. It is demonstrated by their capacity to establish communities where consumers experience greater levels of involvement, transparency, and relatability, leading to a stronger sense of connection to the influencer.

Influencers are quickly becoming the new generation’s celebrities. Most influencers are wealthier and more famous than many celebrities. Celebrities are pushed by the production companies for whom they work, whereas influencers are generally self-made and generate their own following. As an audience, this gives us a sense of belonging. As a result, we prefer to back our favorite influencers.

Barracuda threat report reveals spike in ransomware to more than 1.2 million per month

India, August 26, 2022: Barracuda, a trusted partner and leading provider of cloud-first security solutions, today released its fourth-annual threat research report on ransomware. The new report looks at ransomware attack patterns that occurred between August 2021 and July 2022.

A closer look at ransomware trends 

For the 106 highly publicised attacks analysed by the researchers, the dominant targets are still five key industries: education (15%), municipalities (12%), healthcare (12%), infrastructure (8%), and financial (6%):

The number of ransomware attacks increased year-over-year across each of these five industry verticals, and attacks against other industries more than doubled compared to last year’s report.

While attacks on municipalities increased only slightly, Barracuda analysis over the past 12 months showed that ransomware attacks on educational institutions more than doubled, and attacks on the healthcare and financial verticals tripled.

This year, Barracuda researchers dug in deeper on the highly publicized attacks to see which other industries are starting to be targeted. Service providers were hit the most, and ransomware attacks on automobile, hospitality, media, retail, software, and technology organizations all increased as well.

Most ransomware attacks don’t make headlines, though. Many victims choose not to disclose when they get hit, and the attacks are often sophisticated and extremely hard to handle for small businesses. To get a closer look at how ransomware is affecting small businesses, the report details three examples that researchers have seen through Barracuda SOC-as-a-Service, the anatomy of each attack, and the solutions that can help stop these attacks.

Parag Khurana, Country Manager, Barracuda Networks India, said, “Ransomware attackers remain defiant and continue to operate their business with extended extortion attempts. As ransomware and other cyberthreats continue to evolve, the need for adequate security solutions has never been greater. Many cybercriminals target small businesses to gain access to larger organisations. As a result, it is essential for security providers to create products that are easy to use and implement, regardless of a company’s size. Additionally, sophisticated security technologies should be available as services, so businesses of all sizes can protect themselves against these ever-changing threats. By making security solutions more accessible and user-friendly, the entire industry can help to better defend against ransomware and other cyberattacks.” 

To safeguard their network against this type of attack, businesses should implement execution prevention by disabling macro scripts from Microsoft Office files transmitted via email. They should also carry out a robust network segmentation to help reduce the spread of ransomware if it does get into the system. Additionally, they should identify and remove any unused or unauthorised software, particularly on remote desktops or remote monitoring, as they could be signs of compromise. Organisations should also secure their web applications from malicious hackers and bad bots by enabling web application and API protection services, including distributed denial of service (DDoS) protection.

Flag-off session for 15-day summer educational trip to AIT, Bangkok held at UGI, Greater Noida-Day 2

A flag-off session pertaining to the 15-day summer educational trip to the prestigious Asian Institute of Technology (AIT), Bangkok was held at UCER Seminar hall, on date 25th August, 2022.

The trip will set to Bangkok on September 1, 2022.

As many as 70 shortlisted meritorious students from all the colleges of UGI alongwith their parents attended the session.

Significantly, these students were selected among the 700 students of UGI who had applied for this foreign trip.

The exercise began with the registration of these students and foreign exchange under the supervision of UGI.

UCER Principal Dr. Anil Yadav presented the objective of the trip and briefed about the New Heights of Foreign Exposure at AIT, Bangkok.

Mr. Daya Shankar Srivastava also Shared Some Experience with Students about AIT, Bangkok Such as ‘What to Do and Not to Do’ at AIT, Bangkok and Dr. Meenu Sahni from UGI, Greater Noida who will be leading the students’ group.

Dr. Meenu Sahni briefed students about the important guidelines and shared the entire plan chalked out for this trip.

Speaking on the occasion, Chairman, UGI Shri G G Gulati Sir expressed about the Importance of Discipline in the Life of Students and extended his best wishes to the students. he advised students to be humble, polite and disciplined under the Guidelines of UGI and AIT Bangkok and to focus on learning new things including the Culture of the Thailand with open mind.

Master of Ceremony (MoC) Dr. Meenu Sahni conducted the session. Director UCE Dr. A Sajeevan Rao, Principal Pharmacy Dr. Surendra Lalwani and Faculty Members Mr. Deepak Singh Bhadauria, Mr. P.K Sharma, Mr Deelip Kumar were Present on the Occasion.

Re Sustainability urges netizens to have a sustainable nimarjan this Ganesh Chaturthi

India, August 2022: Re Sustainability (formerly known as Ramky Enviro Engineers) partners with BIG FM for the 15 th edition of the award-winning Green Ganesha initiative, #ReBIGGreenGanesha, to provide eco-friendly Ganeshas, lending the country folks an eco-friendly alternative to celebrate the auspicious festival. Close to 15000 Ganesha idols made of eco-friendly materials are distributed across 5 cities every year.

Re Sustainability, the leading environmental management company, inching one step closer to their Sustainable Development Goals (SDGs), will hand out and promote the usage of eco-friendly Ganesh idols across various Gated Communities in tier 1 cities including Hyderabad, Mumbai, Bangalore, Kolkata and Chennai. These clay Ganesha idols are enclosed in a coconut pit containing seeds that biodegrade. While the receivers can perform the #nimarjan at home, in a flower pot, giving birth to a new life, a new plant. The company will have a canter going around the town from 25 August to 31 August. This program is well in line with one of the brand’s most essential pillars, #sustainability.

The annual program will accelerate engaging games on radio amplified through on-air and digital channels. These efforts to promote environmentally responsible celebrations have reached out to the masses and equipped them with awareness and information about environmental protection. #ReBIGGreenGanesha will do its part in replacing non-biodegradable options that create pollution. Their sustained efforts have been largely driven to protect the water bodies with activities like lake restoration and beach cleaning. It simply means ‘no festive compromising and no remains of the idols washed back ashore.

Mr. Shantaraju, Chairman, Re Sustainability, said, “This initiative is aligned to the core of our business model i.e environment protection and the ESG mandate. Re Sustainability will continue to develop environment-friendly alternatives, accelerating the wheels of circular economy. As we engage in our annual ritual on Ganesh Chaturthi, we encourage netizens to have eco-friendly celebrations with their loved ones, in the true spirit of the festival.” 

Mr. Goutham Reddy, Managing Director of Re Sustainability, said, “As Re Sustainability moves towards a sustainable future, we are significantly looking to preserve our water bodies. Re BIG Green Ganesha as a program is specifically designed to help curb water pollution. We look forward to celebrations with our ‘Green Heroes’ while we move a step towards sustainability & eco-friendly methods of living & celebrating.” 

Mr. Masood Mallick, CEO, Re Sustainability, said, “It is a priority to help educate and empower every citizen of the country with the concept of sustainable living. This year, we are back with our flagship campaign for Ganesh Chaturthi, aiming to promote sustainable celebrations across the country. Supporting the Swacch Bharat Abhiyan, we wish to keep the cities clean and maintain their green decorum through the many initiatives being taken by companies and the Government to spread awareness towards environment indemnities.” 

Re Sustainability has carved a niche for itself in the environmental protection sector by promoting the circular economy with its holistic services. The company, which established India’s first biomedical waste facility, now plans to enter the electronic waste sector. It has largely been responsible for revolutionizing waste management processes by investing in state-of-the-art technology, advanced systems and green initiatives. Re Sustainability’s BIG Green Ganesha demonstrates the importance of eco-friendly celebrations in their sincere attempt to minimize environmental damage.