The Most Promising Digital Transformation Partner in BFSI by Business Connect

Vol-4 | Special Edi on | July 2022 | 499/-

Best Finance Books of All Time Things to Consider When Buying

Car Insurance Know These Wise Things Before Buying A

Health Insurance Policy Is Major

Global Recession Knocking the Door?

Surajit Roy

Managing Director & CEO

IDBI Intech Ltd.

Where business outcomes are delivered via relevant and futureready tech solutions… 1

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

BUSINESS REVOLUTION

THE RISE OF INTEGRATED TECHNOLOGIES Innovations have paved the way for many feats over the past two years, proving that they are the key to transformational growth. Companies are not adhering to this as a “one-timeinvestment” but rather a sustainable approach to win in today’s transforming market. It’s helping them re-strategize themselves to meet customer needs with a profit. By adhering to the needs of fundamental transformation, businesses have adopted new digital avenues, thus, driving organization-wide value. This also led to the development of disruptive verticals, like EdTech, FinTech, HealthTech, etc. In other words, tech-neologism has become the growling engine of change. It’s propelling disruptive concepts, technology, and activities in the field of digital innovation to prepare businesses for a more revolutionized future. COVID-19 served as the impetus for this baffling technological torrent. There is no need to introduce the enormous disruption of the business space, which has compelled every vertical to reinvent its operations. Power has also dramatically shifted from technology behemoths to the masses. The ubiquity of the internet in our lives has sped up the formation of integrated verticals. The growing tech-neologism trend hasn’t excluded the Indian Subcontinent either. The ability to easily configure adaptable procedures has greatly benefited industries including education, banking and finance, healthcare, and others. Leading this development is FinTech. The vertical is rejuvenating the financial industry by advancing payment, data-based decision making, customer support, hyper-personalized AI-powered services to identify client habits, etc. IDBI Intech Ltd., the cover star of our captivating edition “The Most Promising Digital Transformation Partner in BFSI,” is a well-known FinTech pioneer advancing crucial digital transformation across the financial realm. Its reliable, cost-effective, and adaptable services are renowned throughout the globe for assuring sustainability and safety in a dynamic market. “Success in the digital age requires constant innovation.” And it is seen from the continuously growing integrated verticals. In addition to reinventing corporate growth, they have paved the way for a fascinating and successful career path for young aspirants. In conclusion, the world is changing drastically, and there is uncertainty everywhere. Even though neologism concepts may seem esoteric, they are essential for succeeding in a changing market.

Indranil Roy Indranil@businessconnectindia.in

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Business Head ASHISH KUMAR

Creative Director ASHUTOSH OJHA

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www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

COVER STORY

10 Page No.

IDBI INTECH LTD.

Where business outcomes are delivered via relevant and future-ready tech solutions…

SUCCESS STORY Shapoorji Pallonji Chairman Pallonji Mistry

EURO EXIM BANK LTD A Renowned International Banking Financial Institution

Growth Best Finance Books of All Time

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www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Financial Technology and Digital Payments Transforming The Digital Economy Landscape

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AUXILO FINSERVE Quality Education Made Accessible

Trending Is Major Global Recession Knocking the Door?

78 BARGACH FINANCE PVT. LTD.

Bargach Finance Pvt. Ltd A Leading Financial Service Provider With A Purpose

KK RAHUL Credible Financial Services JOHRI A prestigious trademark in the investment industry

Chairman, Bargach Finance

A LEADING FINANCIAL SERVICE PROVIDER WITH A PURPOSE

f we look and compare the lifestyle of city dwellers with people in Rural and Semi-Urban India, we can spot a humongous difference. Lack of basic amenities like sanitation, drainage system, clean drinking water, wall plastering, cemented floor, maintained roofs, etc. are the common issues with which people are constantly struggling in rural and semi-urban India even in this era of incredible advancement. The primary reason behind the above-mentioned issue is the lack of funds to provide a better and healthy lifestyle. Bargach Finance Pvt. Ltd. came into existence to provide a funding solution to financially excluded customers for this concern.

head office in Kolkata, West Bengal and offers small-ticket loans of INR 50,000, INR 75,000, INR 1,00,000 for a tenure of 2 years. Bargach has applied for an NBFC-ND license from the RBI.

Sighting the kind of affirmative response they have got from their clients, they have planned their expansion in the states of Odisha, Madhya Pradesh, Chhattisgarh and Tripura in the next 3 years.

Rahul Johri is the Chairman of Bargach Finance Pvt. Ltd. Under his vision and entrepreneurial skills, the Company is making rapid progress. The leadership team also comprises of Prasanta Kumar Sahu (Director) and Sumit Hans (Chief Operating Officer)

HOW DID IT START?

In these crucial times, Health and Hygiene are the attention-seeking topics, which are directly linked to the availability of clean water, Sanitation facility and Quality homes and this has directly affected the lives of women and kids living in Rural and Semi-urban locations. Government organizations and NGOs have been dedicatedly working towards the goal of providing these facilities, but due to the lack of availability of funds with most of the people and poor understanding of how a lack of these basic needs can cause a risk to their life; this remains a dream for them.

Health Orange Retail Finance India Loans are provided for Home Improvement, Drinking Water and Know These Wise Things Before A Credible Partner to Rely Sanitation to women customers in rural and semi-urban locations, hav-on for Growth and Success Buying A Health Insurance Policy Bargach Finance Private Limited (Bargach) is registered as a Private Limited Company under the Companies Act 2013. The Company has its

ing a similar socio-economic profile, through seven branches spread in West Bengal, managed by Branch Heads and Relationship Officers.

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The Digital Fifth Stimulating the Revolutionary Waves of Digital Transformation in Financial Space Considering these alarming issues, the leadership team at Bargach Finance pondered towards providing these basic needs and facilities. However, having a commercial sense was important to remain focused and for creating a long-term venture. Foreseeing a high demand/ opportunity, they started gathering expertise to build a sustainable business model. What ignited the final step towards the formation of their venture was the market opportunity in the sector since there is limited number of organizations, which have similar product ranges as theirs. With their remarkable ideas, services and solutions-oriented approach, they have helped in improving the living standards of society and overcoming the hygiene problems in the interior parts of our country.

“We are into educating the women of rural society about health and sanitation before they become our customers and also on how to address this problem through our loan products “

AN EDGE OVER THE PEERS

It’s vital to be competent in today’s era by being unique in the entrepreneurial space.

They do not have peers in the same field of business as other lenders do not have these products in their product basket. Also, there is a huge gap in demand and supply, which is unnoticed by peers.

In their field of operations, they have other organizations giving out loans for income generations, home loans, car loans, etc. With their distinctive motive and concern, they stand out to be a unique organization that mass-market people can look up to for their very basic needs.

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The essential need for a company is to adapt to the latest changes towards catering to the indispensable requirements of the clientele. The best way to adapt to a dynamic market is to improve skills along with the capability to overcome situations without violating any operational guidelines. For the adaptation of the market trends, they have to connect with the customer since this is just not about extending loans but also understanding their needs and educating them about the solution and benefit of using the same. Taking a look at the above-mentioned statement, they decided to recruit team members experienced in serving people in rural and semi-urban locations. Since they operate in the rural parts of India, the need that was inferred from the clients is an improvement in their living standards and solving problems related to hygiene, which mainly occurs due to lack of proper drinking water and sanitation needs that are addressed by their loan products. Rahul Johri, Chairman of Bargach Finance says,

Through in-depth research and market penetration, they have gained an edge over their peers. Their loan products are the key and the daily/ routine interaction with their clients has helped their vision to build a sustainable business. A dynamic set of field operatives can be approached by the customers whenever there is a query and they are always happy to provide clarity on the product offering.

ACHIEVEMENTS AND MILESTONES

The incredible and noble objective of the organization along with sincere efforts has resulted in visible achievements and accolades. Some of the major milestones for the

company has been partnering with V- Financial Services two renowned financial institutions to start A one-stop platform foroperation. cost They have been successful in servicing more than 275 efficient and unbiased financial satisfied customers in 3 months. The Company has placed extra focus, even services guidance in the present uncertain times, on staying in touch with stakeholders such as clients, employees and lenders.

UP2Date Heading

Prasanta Kumar Sahu (Director) says, “The greatest of all achievements is to know people from the isolated places of our country and know their problems, understand them as their very own and help them build their dream with our financial boost. The satisfaction that comes around knowing that we could be the reason for so many smiles is exquisite. We have been able to nourish so many lives whom we could not have helped as individuals but through this idea/initiative, it has become possible.”

Content

FOR THE FUTURE

At Bargach Finance, they envision a multitude of expansion plans covering new geographies and product lines. Like all growing organizations, they also have defined business plans with 3-year objectives. They do want to spread across the nation with their motive of helping the ones in dire need of their support to uphold a healthy and hygienic lifestyle.

RAHUL JOHRI SUMS UP BY SAYING

“We have just begun with our operations and are already getting encouraging response from our team as well as customers who have been motivating us to look at a larger picture for the organization’s future. However, such a large expansion is going to take 3-5 years since we are learning day-by-day by gathering experiences. We plan to touch half a million households through our ideas by 2024’’

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www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

COVER STORY

The Most Promising

DIGITAL TRANSFORMATION Partner in BFSI

IDBI Intech Ltd. Where business outcomes are delivered via relevant and future-ready tech solutions… Kajal Dobhal|Business Connect

BUSINESS CONNECT: AS ONE OF THE LEADING PLAYERS IN THE DIGITAL TRANSFORMATION OF THE BANKING AND FINANCE SECTOR, IDBI INTECH NEEDS NO INTRODUCTION AT ALL. PLEASE COMMENT ON ITS PHENOMENAL JOURNEY TO THE PRESENT DATE SINCE ITS INCEPTION.

Our differentiators are our core values of integrity, intelligence and ingenuity. These define our customer value creation and help us create digital transformations and customer satisfaction. Some of our key offerings, globally, are in the domain of : • Combating Financial Crime/Anti-Money Laundering • Payment Reconciliation and Settlement: • Corporate Liquidity Management • Sentiment Analytics – AI-backed Customer intelligence • Enterprise Risk Management • API Banking, Webservices • Blockchain and RPA for seamless processes

Surajit Roy: IDBI Intech Ltd is a Technology-led Digital Business Transformation Organization in the Banking & Financial Services Domain.

Our incredible journey began decades back as a subsidiary IT company of IDBI Bank. Since then, our Business Portfolio has grown to include products and services across a wide Spectrum touching upon Customer Journeys, Customer Experience, Financial Crime, Payments & Regulatory Compliance, eGovernance and Enterprise Risk Management. Our products complemented by our Integrated Digital Transformation Services portfolio help Organizations transform into a Digital Enterprise Leveraging Disruptive Technologies and ensuring Consistent relevance and also being ahead of the competition curve.

BUSINESS CONNECT: KINDLY WALK US THROUGH YOUR DISRUPTIVE TECHNOLOGIES THAT HAVE BEEN DRIVEN BY INNOVATION, AGILITY AND A START-UP APPROACH.

Surajit Roy: Intech aims to be in the leader’s quadrant as a technology-led business transformation organization. Our products are built using open-source and have insightful analytics with Artificial Intelligence and Machine Learning, API Banking & web services and Blockchain technologies for process reconciliations & online KYC for Customer Onboarding and Robotic Process Automation.

A sound speed-to-value strategy with an agile, innovation-oriented startup mindset. Our work culture helps maintain a balance in terms of technological innovation, employee satisfaction and creating business value. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Surajit Roy

Managing Director & CEO

IDBI Intech has earned customer trust and conviction in providing transformational digital solutions for Combatting Financial Crimes i.e. Anti Money Laundering, Early Warning Signal, Trade-Based Money Laundering, Real-Time Monitoring systems etc. which are platform agnostic, highly scalable enabling real-time monitoring, enriched with AI ML. Our Anti Money Laundering system has the capability of processing 18.25 billion transactions annually for a leading Bank with one of the largest customers base. The rapid evolution of digital transformation has led to the development of an Enterprise Risk Management solution by IDBI Intech for the Banking & Insurance sector built on open source software using Artificial Intelligence and analytics on a cloud database. We also have a digital solution for EnterpriseWide Payments Reconciliation which is PCI DSS certified and is built on AI ML for efficient, error-free transactions reconciliation from multiple payments channels. It has the capability to process 5.5billion transactions with maximum accuracy and precision for another leading Bank.

We have also developed and executed seamlessly several digital products such as the Corporate Liquidity Management System. The is architecture highly scalable, robust, resilient and at the same time offers hybrid functionalities. The functions are supported by intuitive UI/UX providing ease of configuration from the front end, interactive dashboards, and heatmaps enriching the customer experience. Intech has also built Instant Customer Onboarding solutions leading to disruptive business growth for Banking customers, we have launched digital banking on a social media platform for superior customer experience and the innovation story goes on.

BUSINESS CONNECT: BEING A FULLY-OWNED SUBSIDIARY OF IDBI, HOW HAS THE COMPANY MADE JUSTICE TO THE PARENT GROUP’S MISSION, VISION AND BUSINESS GOALS?

Surajit Roy: IDBI Intech being the IT subsidiary of IDBI Bank has maintained the IT platform for the Bank for nearly 2 decades. Intech delivers superior digital journey’s to the Bank for its business growth, and operational excellence with rapid process digitalization to ensure 11

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superior customer experience and an increase in customer base. Intech is the IT backbone of the Bank for all its strategic and operational level IT interventions, to name a few, Intech has delivered several digital journeys to the parent Bank viz. digital customer onboarding, social media banking, digital Corporate Liquidity Management/ Government Liquidity Management, Anti Money Laundering and Enterprise wise Payments Reconciliation, Payments middleware and more.

BUSINESS CONNECT: KINDLY WALK US THROUGH YOUR DIVERSE CLIENTELE. ALSO, MENTION YOUR PARTNERSHIPS AND ALLIANCES.

BUSINESS CONNECT: ‘THE FRICTIONLESS USER JOURNEY’ IS WHAT YOUR MOTTO STATES IN TERMS OF DELIVERING VALUE TO THE CLIENTELE. PLEASE JUSTIFY THE STATEMENT.

Surajit Roy: IDBI Intech is deeply entrenched in the BFSI sector, being a homegrown IT company of IDBI Bank our product line is incubated in a banking environment. Intech works closely with other large public sector and private Banks, Insurance companies and NBFCs.

Surajit Roy: IDBI Intech is a global player in technologyled business transformation by integrating disruptive technologies to ensure customer delight and profitable business growth. We build digital solutions to meet evolving needs of the customer, create disruptive business growth, enhance operational excellence and add significant value in their entire lifecycle. Our Innovative Digital outcomes connect user needs, emotions and behaviour with service design, features and strategy with speed which translates into superior business value for the customer.

We have strategic alliances with OEMs that enable us to provide value-added services to our customers. We have tied up with global entities that provide database solutions, hardware support, global watch list and automated processes.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Our domain experts act as advisors to help our customers envision their solution, help build the product and seamlessly execute it. Our digital products are built to be platform-agnostic, highly scalable, cost-effective and built on new-age open source software and supported by Artificial Intelligence & Machine Learning, web services to enhance decision making for strategic business areas such as growth, customer experience, regulator & compliance, combatting financial crime and payments etc,

BUSINESS CONNECT: WHAT DIGITAL SOLUTIONS HAVE BEEN INTRODUCED BY YOU IN THE BFSI SECTOR?

Surajit Roy: Our digital solutions have been across a wide range of critical domains in the Financial Services sector. We have the leading products for Combatting Financial Crime (with all Key modules for Anti Money Laundering integrated with a global watchlist, Early Warning signal, Real-Time Monitoring of transactions, Trade-Based Money Laundering etc; Enterprise Risk Management, Fraud Risk Management, Fraud Analytics. Our Enterprise-wide multi-channel payments reconciliation solution comes with global security certification PCI DSS. Digital customer onboarding, Social media banking, API Banking, Customer Intelligence – an application leveraging AI for customer analytics for product campaigns, Customer cross-selling / Upselling Application to facilitate Analytics to cross-sell /upsell Banking products based on customer segmentation; Automated Regulatory Reporting; customised payments middleware, RPA for digitizing manual processes, Blockchain in payments and many more. Please visit our website for more details and a demo of our product, at www.idbiintech.com

BUSINESS CONNECT: DO YOU BELIEVE R&D IS SIGNIFICANT FOR THE GROWTH OF IDBI INTECH? IF YES, PROVIDE US WITH A BRIEF OF IT.

Surajit Roy: Non-linear business expansion is directly proportional to our out-of-the-box digital product creation. The continuous process of innovation and upgrades of products and services are the key drivers for Intech’s disruptive business growth. Our R&D strategies are aligned with changes in business models of customers, consumer preferences, regulations & compliance needs in the Financial Services sector. Our product

and services teams collaborate at speed for the adoption of new technology such as cloud-enabled data platforms; enterprise data management; open and interoperable API-driven architectures; data warehouses, and data storage, to name a few. We use cloud services to tap into value-added resources to advance our R&D and innovation work, including analytics, and AI/ML services (cloud machine learning). By boosting innovation, the company is experiencing accelerated growth and an energetic & enthusiastic work environment. To promote innovation, IWt is necessary to adopt low-code programs and platforms along with prototyping tools. Robotic Process Automation is crucial for operational excellence to assist in managing a greater volume of repetitive tasks such as building Machine Learning chatbots for responding to customer queries seamlessly for Banking services. Digital Transformation Enablers are an established mechanism to digitize functional aspects for a seamless workflow. This helps organisations to yield maximum benefit from superior customer experience, and increase customer onboarding thus driving disruptive growth, risk monitoring and management, combatting financial crime etc. AI-Backed Development – AI is used to enhance the ease and efficiency of development. This assistance in faster development by using AI enables faster innovation and delivery. Ongoing innovation and agile execution speed up the delivery of software changes.

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BUSINESS CONNECT: WHAT ARE THE INSIGHTS OF THE LEADERSHIP TEAM INTO TECHNOLOGY AND ITS INCESSANT ADVANCEMENTS?

Surajit Roy: Intech possesses the necessary business, technology and ecosystem expertise to integrate disruptive technologies to transform customers’ digital journeys. The product and services stack is constantly upgraded and made market ready to seamlessly fit into customers’ technology architecture. Making incremental enhancements in the customer’s value chain will boost speed to market with new products and services; increase responsiveness to customer requests; better manage insight-based marketing campaigns and yield highly personalised and relevant products and services to the target audience.

BUSINESS CONNECT: HOW WOULD YOU EVALUATE THE IMPACT SCALE OF IDBI INTECH?

Surajit Roy: IDBI Intech’s positioning on the niche domain-based products & services portfolio caters to key building blocks of a financial services landscape. Intech’s products and services have been creating value in the business lifecycle of our customers, especially in the critical domain of regulatory compliance, Risk, Anti Money Laundering, and Business process digitization for faster customer onboarding and seamless experience in their journeys. Our repeat business propositions from customers and growing nos. of customers is a testament to the immense value Intech has been creating in the BFSI segment. We have been reinventing our classic business models by bringing something new to the market. We integrate disruptive technologies to stay connected with customers and make sure we are delivering the solutions they want and need.

innovations, resilience and adaptability. Ensuring dignity, value for talent, and providing all employees with a level playing field to perform with a free mind, is part of our company culture. This propagates open honest conversations and nurtures creativity & innovation, collaboration and resilience in our system. Our leaders reach out to teams. They also ensure that teams are heard, respected, valued, and retained. We believe a confident and expansive workforce leads to great Customer Service and Delight. We espouse the virtues of self-awareness and this enables us to see and address bottlenecks. As we provide a diverse, equitable, and inclusive work environment company always has access to a variety of perspectives, skill sets, and experiences. Our employees, as human capital, feel included and engaged and go the extra mile for the organization. This higher engagement has a ripple effect on profitability, innovations, team morale, and retention.

We are investing in state-of-the-art technologies such as AI, ML, Blockchain, API and microservices and delivering products and services which have been felicitated across the BFSI domain.

BUSINESS CONNECT: DOES THE LEADERSHIP TEAM IN THE ORGANISATION BELIEVE IN DIVERSITY AND INCLUSION? IF YES, HOW IS IT FOSTERED HERE?

BUSINESS CONNECT: WHAT KIND OF WORK CULTURE EXISTS IN YOUR ORGANIZATION?

Surajit Roy: We have an agile, innovation-driven, startup mindset. Our values of integrity, intelligence and ingenuity are our foundations of collective culture. We believe in upskilling our employees, who are our human capital. We

Surajit Roy: For Intech Diversity and Inclusion is a critical value which is important for business growth, www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

believe in having long-standing relationships with our esteemed customers and also having the trust of our valued employees. We believe in encouraging a positive, dynamic, inclusive and performance-driven work culture to nurture employees, grow them, and build a passionate and committed workforce. We understand the voice of our employees and know what we could do to further create an environment where employees feel fulfilled and heard.

BUSINESS CONNECT: PLEASE HIGHLIGHT THE ACHIEVEMENTS AND ACCOLADES ATTAINED BY THE COMPANY SO FAR.

Surajit Roy: Our Brand and products have been felicitated by various industry platforms. We are happy to make a mention of the same: • Most Trusted Brand on CNBC TV18 platform for IDBI Intech • Prestigious Brand by ET Edge • MD & CEO was Featured in Forbes – Business Icon 2021 and Fortune India – Business Leaders 2021 and CIO View – Most Successful Business Leader to Follow in 2021. He was recognised as Promising Business Leaders of Asia 2020-21 & 2021 -22 by ET Edge and as Inspiring CEO 2021 & 2022 by ET Edge • ET DataCon Awards 2022 for IDBI Intech • Recognized Among ET Best Brands Recognized as ET Iconic

• • •

Brands FCBTA Award for i-AML for Best SaaS Technoviti Award for iQuick and i-Mobot Technoviti Award for Enterprise Risk Management

BUSINESS CONNECT: PLEASE SHINE SOME LIGHT ON THE FUTURE ENDEAVOURS OF THE COMPANY.

Surajit Roy: IDBI Intech is a global player in technology-led business transformation by integrating disruptive technologies to ensure customer delight and profitable business growth. We envision our products and services as a catalyst for the digital business transformation of clients. Ours is a continuous improvement and continuous delivery approach for agile execution of new and upgraded products for evolving customer needs.

We also believe in creating future leaders who will act as change agents in the corporate and social milieu in the times to come. As part of this initiative, we have launched Utkarsh, our corporateacademia mentoring programme where our domain and technofunctional experts mentor college students to bridge the gap between industry and academics by training students in the latest technologies and banking system and preparing them to understand the functions, technology and opportunities.

BUSINESS CONNECT: LASTLY, IS THERE A MESSAGE YOU WOULD LIKE TO GIVE TO OUR READERS?

Surajit Roy: We believe that success is to create enablers for others to grow. This thought, having a multiplier effect, is the key to delivering supreme technology-led business outcomes to customers across industries and geographies and establishing good business relationships that are integral to success. Our foundation is strong, which stands high on prioritizing the customers and making them win through robust pillars of innovation, agility, strong work culture and cohesiveness. We believe that the challenges we face today are doors that open to greater opportunities tomorrow.

A DELIGHTED CUSTOMER AND A HAPPY WORKFORCE IS OUR STRENGTH.

(IDBI Intech specialises in Regulatory and Compliance solutions in Financial Crime. Please visit our website for more information www.idbiintech.com).

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

CHAIRMAN

SHAPOORJI PALLONJI

CHAIRMAN

PALLONJI MISTRY

EARLY LIFE:

Pallonji Mistry was born to a wealthy businessman in 1929 in a Parsi family from Gujrat. Having finished high school, he went to attend college in England and obtained a degree in civil engineering. He came back to India after finishing graduation and took over the family business. His father passed away in 1954. At a very young age he joined his family’s construction company under the supervision of his father Shapoorji Pallonji Mistry. After his father’s death, he took over the reins of SP in 1975. To expand his empire, he started acquiring strategic stakes in other companies like Sterling & Wilson, Forbes Gokak and Afcons infrastructure and United Motors.

SUCCESS STORY Pallonji Mistry, one of India’s most venerable and super successful entrepreneurs, was the India-born Irish business tycoon. The chairman of Shapoorji Pallonji (SP) group which runs a sprawling construction business for more than 150 years, Mr. Mistry was also the country’s oldest billionaire. The single largest shareholder (18.4%) of TATA Sons, Mistry was a low-profile philanthropist. In 2016, he was awarded Padma Bhushan award for his contribution in Indian industry. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

SUCCESS STORY

Pallonji Shapoorji Mistry

Soon, he started being perceived as a savvy and successful businessman and got his first major projectthe construction of the Taj Hotel in Mumbai. He got this project finished even before schedule and under the budget and went on to complete many other significant projects in his career such as the construction of the Gateway of India and the Mumbai Stock Exchange. The fortune which he inherited from his father multiplied by him manyfold and took SP beyond the shores of India.

THE SHAPOORJI PALLONJI (SP) GROUP:

The Shapoorji Pallonji Group was established in 1865 and it got the credit for some iconic constructions like the Reserve Bank of India in Mumbai, the Presidential office in Ghana, and the Palace of HM Sultan Qaboos bin Said al Said in Muscat which was finished in 1975. With this, SP became the first Indian construction company to have completed a project abroad. The company also opened the doors for other Indian companies. SP consolidated its presence in the Middle East as construction of Muscat palace became a launchpad for it. With time the group forayed into Africa where they constructed some landmark projects such as the National Assembly of Gambia and the Ebene IT Park in Mauritius.

PALLONJI MISTRY’S NET WORTH:

As per Bloomberg Billionaires Index the total net worth of Mistry is almost $ 29 billion which makes him one of the wealthiest people in India and in Europe. His wealth was estimated to be $9.7 billion (Rs.53,350 crore) by Forbes that declared him wealthiest person of Parsi descent as well as richest Irishman in the world. A large part of this wealth comes from his shareholding in the Tata Group.

Pallonji’s father constructed factories for Tata Motors and Tata Steels. The Tatas didn’t have money to pay so they gave him shares instead.

His Work Style:

Pallonji is an absolute perfectionist with an eye for detail. He aspires to perfection, even if it increases costs beyond budgetary constraints. Currently working on eight projects for the company, the contractor claims Pallonji has a straightforward philosophy: “”Since both of our names are attached to it, we should make sure that this is the best,” said the other. Before we begin working on a job, he always says that.” Contractor and SPG have worked together on a number of projects, including The Sarala Birla Academy, a boarding school for boys in Bangalore; the “Empress City” township project in Nagpur; and the 60-story Imperial Towers in Mumbai, the tallest skyscraper in India. The billionaire Pallonji Mistry was not very social and always maintained a low profile. This is why people don’t know much about his personal life.

Personal Life:

Mistry was married to an Irish woman named Pat Parin Dubash. He had two sons and two daughters. His eldest son Shapoor Mistry is in charge of the Shapoorji Pallonji group, and his youngest son Cyrus Mistry formerly held the position of chairman of the Tata group for some time. Laila is the older of Mistry’s two daughters, and Aloo is wed to Noel Tata, Ratan’s half-brother. Pallonji surrendered his Indian citizenship in 2003 and became an Irish citizen because of his Irish wife. However, he didn’t leave India and stayed up in his sea facing Walkeshwar bungalow in Mumbai. His family was passionate about horses which could be the reason for their interest in Ireland. Mistry had a 10,000 square foot house and a 200-acre stud farm in Pune, India.

Recalls Deepak Parekh, Chairman of HDFC

PALLONJI MISTRY LEFT THIS WORLD ON 28th June 2022 at the age of 93 FINAL WORDS:

The billionaire Pallonji Mistry was not only a successful businessman but also an enigmatic personality. He built a business empire that covers many industries and his company played a significant role in shaping India’s economy. Mistry was a real gem of Indian industries and the SP group established by him will continue to be a major force in future as well. 19

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

EURO EXIM BANK LTD A RENOWNED INTERNATIONAL BANKING FINANCIAL INSTITUTION

Kajal Dobhal|Business Connect

GRAHAM BRIGHT | Head, Compliance & Operations Financial Institutions play a pivotal role in managing the financial and monetary issues of corporates, businesses, individuals, etc. Regulating and monitoring the transactions, financial institutions are instrumental in shaping the economy of the nation. Euro Exim Bank Ltd.is one of the renowned and top-notch financial institutions, established in 2015. Euro Exim Bank is a young and innovative international financial institution. They are headquartered in St. Lucia, in the West Indies, with a Representative Office in London and a network of affiliates, agents and partners in key locations, serving import and export businesses around the globe, facilitating the trade finance. In today’s rapidly growing international markets, with the Belt & Road Initiative and expanding global hubs, trade finance continues to play a strategic role in cross-border flow and movement of goods and services valued at trillions of dollars annually. They specialize in connecting corporate buyers and sellers, enabling businesses to economically and efficiently import goods and services. Moreover, they assist companies to fulfil their trade aspirations through financial instrument issuance and relay via SWIFT to correspondent institutions. Their international teams of experts have years of Trade Finance and SWIFT experience of complex instruments and transacting via an extensive network of contacts and counterparties covering emerging markets, Africa, Asia, the Middle East and South America.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

GRAHAM BRIGHT

Head, Compliance & Operations

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

They started as a small payment provider in the UK (SPI), however, due to diminishing margins and the crowded competitive nature of the business, it was clear that designation was no longer suitable to the company growth model. Spotting a gap in the market, the company applied for an international regulated banking license in St. Lucia, under the strict auspices of the Financial Services Regulatory Authority (FSRA). This enabled them to provide the full range of banking services, with a focus on specialist trade finance.

KAUSHIK PUNJANI | DIRECTOR

They are now empowered to provide not only Letters of Credit, Standby Letters of Credit, but also regulated Bank Guarantees and Performance Bonds from their St. Lucia Head Office. Additionally, they are looking at extending their platforms with foreign exchange service, issuance of pre-paid cards and introduction of tradeable digital assets.

HELPING YOU STAY AHEAD OF THE GAME Let’s walk through how Euro Exim helps you to stay ahead, which requires constant vigilance. In the financial sector, successful firms find, service and retain sustainable clients, deliver trusted collaborate products with professional specialist staff, and above all provide innovative and low-risk solutions that free client cashflow. Their wide range of clients operate in countries where there is demand, but access to fiat currency, knowledge of complex processes, lack of investment in infrastructure hamper them from being competitive and agile. Their approach, designed to mitigate risk remains dependent on strong KYC and indemnity processes, allowing clients through appropriate collateral requirements to trade more competitively and efficiently, placing them ahead of cash-strapped competitors.

KEEPING UP THE PACE Within weeks, they have seen unprecedented global challenges with disrupted labour forces, supply chain shortages, pressure on health services, restricted travel and total country lockdowns. Add to this uncertainty access to consistent sources of economic cost-effective supplies, dramatically falling oil prices and zero output in powerhouse economies.

With the outbreak of Coronavirus, an unfortunate consequence, in addition to the closure of factories, worldwide panic, stock market freefall and growing mortality rates, comes the expectation that banks will exercise margin calls and recall loans more aggressively, tighten their hold on cash where possible and restrict credit, especially in uncertain trade environments. Our approach to helping buyers with more appropriate flexible collateral will help to rebuild supply chains, reestablish trade lines and assist in maintaining cash flow in these difficult times facilitating commerce as production eventually resumes.

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Internally, they have implemented new technology such as a blockchain architecture and AI solutions inside their trading platforms. Also, they introduced Ripple xCurrent and On-Demand Liquidity services, positioning them to meet and exceed buyers’ demand for alternative payment mechanisms and the ability to procure products and raw materials from new supply sources such as emerging markets. Externally, their brand has grown significantly over the past five years, finding the market niche serving small and mid-tier companies and by carefully managing their exposure. They have grown exponentially and 24

their strategic goal is to become the largest trade finance provider globally. They are recognised internationally as a major player, with a growing number of experts and sales resources in multiple locations. Brand awareness has also increased through being proud sponsorship of key trade events, as contributors to global publications and recognized as award-winning thoughtleaders collecting multiple accolades for their technology, service provision and executive innovation. This strategy has been instrumental in building their reputation, supported by their future-ready blockchain-enabled platform for instrument issuance and Ripple-powered frictionless payments and liquidity.

COPING WITH THE TECHNOLOGY In this new era of Technical dominance, Euro Exim Bank has actively embraced technology and attended a multitude of industry events to understand the impacts and benefits of technology. As a result of careful and strategically planned implementations, they have been nominated for awards based on their workflow product and how they have integrated technology and process with other platforms. Blockchain is one of the latest innovations to captivate the trade industry, and accordingly, they have implemented and enabled a full blockchain capability into their trade platform. However, no customers have specifically requested a blockchain-enabled transaction. Neither has anyone declined services that did not include AI, machine learning or DLT, which begs the question, are these technologies truly gamechanging necessity or still hype? Time will tell.

suppliers in other countries in Africa and across the globe but did not wish to continually buy USD or other fluctuating currencies from a local bank. This affected cash flow and access to liquidity where their order size would be relatively small. Euro Exim Bank’s RippleNet solution helped the client with immediate payments in local currency through xCurrent, and further access to ODL (On-Demand Liquidity) offering unlimited low-cost liquidity using the XRP digital asset for settlement with certainty and immutability of transfer and settlement. By remaining specialists in their outlook, service delivery and sector of business, they continue to build their reputation, customer base, geographic spread with their brand well recognized as a leading supplier.

AN EDGE OVER THE PEERS To win the trust of the clientele and empower the market, it is quintessential to offer something distinctive. On the same notion, Euro Exim Bank tries to deliver the services that justify its uniqueness. The cornerstones on which the foundation of Euro Exim Bank is built are trust, leadership, experience, personal relationships, country expertise, speed of response, cost-effective instruments and above all continued contact and information sharing.

THE CLIENTELE At Euro Exim Bank, they deal exclusively with registered corporates, with clients based in the active markets of China, India, UAE, Malaysia, Africa, Indonesia, Thailand and Vietnam, importing goods from all over the globe, transacting such diverse products as non-perishable ethically sourced frozen foods, vehicles, scrap, and raw metals, pulses, grain, nuts, garments, sewing machines, plastic piping, plumbing accessories, ceramics, etc. They uphold and maintain strong policies on AML, KYC, PEPs and global sanction list checking regarding companies, individual identity, directors, prohibited and dual-use goods. Who do they deal with? As an example, supporting local business in local currency transactions Euro Exim Bank worked with a supermarket group in Kenya needed to pay 25

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Message To The Business Connect Readers

“

Building a business takes years, and relies on solid foundations. In the current uncertain economic climate, firms must be realistic in profit and investment outlook, exercise pragmatic management, hire professionals, release the unproductive, listen and learn constantly from peers and competition, understand value and contribution, not just expenditure, and ultimately work out what customers want and keep delivering it.

GRAHAM BRIGHT

Head, Compliance & Operations

Our expansion journey is based on these solid principles, and we aim to be the long-term pre-eminent provider of sustainable trade finance services globally.

“

Moreover, clients appreciate speaking with representatives by name and meeting locally, which contributes to the escalation and expansion of the business. They are at industry events regularly in key trade locations, where their opinions and experience are valued by the trade community and meeting face to face is vitally important.

ENSURING QUALITY IS INSTRUMENTAL

Delivering quality comes first for any entrepreneurial concern. One can’t compromise on the standards of quality. Therefore, at Euro Exim Bank the assurance of quality in solutions and services is the fulcrum. Firstly, they exercise quality control – in the framework of their products and services ensuring that their legal and compliance teams work with management and sales in the design and approval of instruments. The complexity of trade deals, linked with regulatory, KYC and due diligence mandates, means that every instrument they issue must meet the standards with accountability, transparency, visibility and authority. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Secondly, they follow strict quality assurance guidelines - where quality is built into the production process. Staff check throughout the issuance process using sophisticated workflow tools, from the first sight of a client proforma invoice to ultimate issuance of Letters of Credit, Standby Letters of Credit, Performance Bonds or Bank Guarantees, guarding against any misinterpretation or misalignment of policy. They also create quality into their IT systems and trade platform, with continuous review and responding to market requirements as regulation, liability, sanctions, company information and circumstances change. Their service level agreements also reflect active monitoring of individual country legal and compliance nuances, ensuring they provide the most appropriate, effective, cost-effective solutions to their clients.

STORY OF STRUGGLE

Challenges are the part of everyone’s journey, but to sail through them or sink into it depends on the person’s perspective. As similar to many companies, at the outset, as with many trade finance players, Euro Exim bank were heavily paper-based, relying on manual processes with duplicated efforts and tedious error-prone data entry. They needed automation to resolve these issues if they were serious about being a long-term participant. Their management looked for commercial applications able to suit their way of working rather than adapting all their processes to a particular product. Given their size, they decided to build, maintain and refine their architecture - allowing them to ignore legacy offerings and to benefit from a platform embedded with the latest developments such as DLT, blockchain enablement, AI and fast API linkages. By creating a solid IT architecture that allowed rapid implementation and integration of other services such as cash management, payments and compliance, their self-sufficiency paid off in terms of speed to implement, integrate, train, control costs for parameterization, provide immediate audit and create intuitive user interfaces. Key learnings from the detours in the path were to fully understand the market, find and train the right people, taking time with defining strategy and product design, doing solid research and taking a measured approach to all investments and looking at the real benefit of developments in regulation, compliance and IT. 27

From the story of struggle, let’s celebrate the company’s achievements and accolades.

ACHIEVEMENTS AND ACCOLADES They have been recognized for several major industry awards in prestigious magazines such as UK Parliamentary Review, International Finance, The European, CIO Review, World Business Review, European Business Magazine, The CEO Story CFI - with awards in 2018 and 2019, Silicon Review, Mirror Review, and featured in the world financial press. The thirst for technology led them to be an early adopter for RippleNet services, namely blockchain-enabled real-time seamless payments (xCurrent) and ODL - OnDemand Liquidity. They were the first regulated bank to use these innovative digital asset-based services, which raised their profile and awareness significantly. They are always investigating new applications and delivery mechanisms that make economic sense for them in IT culminating in their nomination for the award of ‘One of the 10 Best Fintech Solution Providers to Watch Out for’ in 2020.

FUTURISTIC APPROACHES

The Company envisions a multitude of plans to execute in the future. Their plans include rapid sales team growth, more country coverage, technical enhancements to speed up instrument issuance processes, and accessing more clients in opportunistic emerging markets. They are continually hearing of challenging barriers to trade for clients, left without costeffective access to fiat currency, with no access to loans and instrument issuance services, as major banks pull out of trade services and even leave the local market. Euro Exim Bank is well-positioned and ready to work with smaller currently disadvantaged companies, finding trade initiation solutions enabling them to rightfully and economically competitive in the wider international arena. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Travel

Best

HOUSEBOAT

Destinations in India

India is a land of never-ending wonders, with each corner of the country boasting its own unique sights and attractions. From stunning beaches to picturesque hill stations, there’s something for everyone in India - and even if you’re not the camping type, some of these places offer amazing hotel packages as well. So, whether you’re looking for an escape from the city or a chance to explore an amazing new destination, here are 10 best houseboat destinations in India! 1. BACKWATERS HOUSEBOAT, KERALA Kerala is one of the most popular houseboat destinations in India, and there are many different reasons why people love visiting this region. The main reason is Kerala’s best houseboat. The Backwaters Houseboat is located in Kerala’s backwaters, which are a series of interconnected lakes and canals. These waters are home to many different types of wildlife, including elephants and crocodiles. The Backwaters Houseboat offers guests a unique experience that is not found anywhere else in India. This houseboat is surrounded by lush vegetation, and it provides guests with breath taking views of the backwaters. The Backwaters Houseboat also has several other amenities that make it an ideal place to stay for a vacation. It has a pool, a spa, and a fitness room, which makes it easy for guests to stay fit while they are on their vacation.

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2. DAL LAKE HOUSEBOAT, SRINAGAR Dal Lake Houseboat is one of the best houseboats destinations in India. It is located on Dal Lake, which is one of the best houseboats in Kashmir. The houseboat has a total of 12 bedrooms, each with its own bathroom. There are also three dining rooms and two living rooms. The houseboat also has a fitness centre, a spa, and a solarium. The houseboat offers a variety of activities such as fishing, swimming, kayaking, and sailing. The houseboat also provides free Wi-Fi and cable TV. Here are the top 10 houseboats in srinagar • Sukoon Houseboat • Mascot Houseboats • The Mughal Palace Houseboat • Royal Houseboats • Akbar Heritage Houseboats • Peacock Houseboats • Naaz Kashmir Houseboat • New Jacquline Heritage Houseboats • WelcomHeritage Gurkha Houseboats • Chicago Group of Houseboats 3. HOUSEBOAT CRUISE, GOA One of the best houseboat destinations in India is Goa. This state is known for its beautiful beaches and crystal-clear waters. There are several houseboat cruises companies that offer tours of Goa’s waterways. The best way to enjoy a houseboat cruise is to relax and enjoy the sights and sounds of the river. You can watch the fishermen work in the boats, or listen to the sounds of the waves crashing against the shore. You can also visit some of the local villages while on a houseboat cruise. There are many beautiful houseboat destinations located in Goa, but Mangalore CBD is probably the most popular.

If you are looking for a relaxing and beautiful vacation, Udupi Houseboat is a great option. This houseboat offers guests a unique experience of cruising on the Kaveri River. The houseboat has a capacity of 26 guests and includes an outdoor area with a pool and a Jacuzzi. Guests can enjoy refreshments while they cruise along the river and take in the beauty of the surroundings.

Mangalore CBD is a bustling city that has been transformed into a modern metropolis. The CBD has many shopping opportunities, as well as plenty of restaurants and cafes. You can also find several interesting attractions, such as the Gateway of India and the Mahalakshmi temple.

5. CHUNNAMBAR HOUSEBOAT, PONDICHERRY If you’re looking for a romantic getaway in Pondicherry, consider a trip on a houseboat. Chunnambar Houseboat is located in the beautiful Chunnambar Lake and offers stunning views of the sunset. You’ll also enjoy the tranquillity and privacy that comes with cruising on your own private lake.

If you are looking for a relaxing holiday that includes some sightseeing and shopping, then Goa is definitely the place for you. Houseboats offer a unique way to experience this beautiful state, while also giving you plenty of space to relax and enjoy your stay. 4. UDUPI HOUSEBOAT, KARNATAKA Udupi is a beautiful and serene town in Karnataka, India. It is known for its beaches, palaces, and houseboats. One of the best places to enjoy the sights and sounds of Udupi Houseboat is in Udupi Lake. There are many different types of houseboats that you can charter in Udupi Lake. Some of the most popular houseboat destinations include Kudle Udyogipeetha, Kasavanthapura, and Someshwara Temple.

Other great houseboat destinations in Pondicherry include Kumarakom and Angadikulam. Kumarakom is perfect for water sports enthusiasts, while Angadikulam is known for its secluded coves and crystal-clear waters. 6. KONASEEMA HOUSEBOAT, ANDHRA PRADESH Konaseema Houseboat is a beautiful houseboat located in the scenic Konaseema area of Andhra Pradesh. This location is perfect for travellers who want to explore the many attractions and villages that lie within reach. Konaseema Houseboat is perfect for travellers who want to experience all that this beautiful region has to offer. The houseboat offers stunning views of the Krishna River, and

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guests can enjoy plenty of activities such as swimming, fishing, and hiking.

If you are looking for a luxurious and relaxing holiday, Pournami Houseboats is the perfect destination for you.

If you are looking for a relaxing vacation or an exciting exploration of local culture, Konaseema Houseboat is the perfect destination.

10. ASSAM Assam is one of the most popular houseboat destinations in India. There are many great spots to stay in Assam, including Kamrup and Sivasagar.

7. TARKARLI HOUSEBOAT, MAHARASHTRA Tarkarli Houseboat is a beautiful place to stay in Maharashtra. It is located on the Tarkarli Lake and offers stunning views of the surrounding countryside. The houseboat can accommodate up to 14 people and has all the amenities you need including a kitchen, a dining room, and a living room. The houseboat is also equipped with a Jacuzzi, a sauna, and a swimming pool. You can enjoy all of these features while you relax and take in the stunning views of the lake.

Kamrup is a beautiful island located near Assam’s capital, Guwahati. There are many great houseboat options here, such as the Kumarakom Lake Resort and the Kamrup Tourist Home. Both of these options offer excellent views of the lake and the surrounding hills. Sivasagar is another great option for staying in Assam. This city is known for its peaceful atmosphere and beautiful beaches. The best part about staying in Sivasagar is that it is close to many great attractions, such as the Kaziranga National Park and Bodoland National Park. Houseboat hire in Assam can be enjoyed at several locations around the province. Some of the best places to hire a houseboat include Tezpur, Goalpara, Dhubri, Nagaon, Barpeta, Darrang and Sibsagar. There are also several private operators who offer houseboat rental services.

If you are looking for an idyllic houseboat destination in India, look no further than Tarkarli Houseboat. 8. SUNDARBAN HOUSEBOAT, KOLKATA Sundarban Houseboat is a beautiful houseboat that offers stunning views of the Sundarbans. The houseboat is situated in Kolkata, and it can be reached by ferry or train. The houseboat offers a variety of activities, including fishing, swimming, and kayaking. It is also perfect for couples who want to explore the city without having to worry about crowds. The houseboat is a great place to relax and unwind after a long day of exploring Kolkata. 9. POURNAMI HOUSEBOATS, ALAPPUZHA, KERALA Pournami Houseboats is one of the best houseboat destinations in India. The company has a fleet of luxurious and comfortable houseboats that are perfect for a relaxing holiday. It offers a wide range of amenities and services including a private balcony, a Jacuzzi, and a personal butler service. The houseboats are also equipped with all the latest technology such as Wi-Fi and flat-screen TVs. The houseboat is located in Alappuzha, Kerala which is known for its backwaters.

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Financial Technology and Digital Payments Kriti Anand | Business Connect

Transforming The Digital Economy Landscape

COMPANY OVERVIEW e-finance is a leading fully-integrated developer of digital payments infrastructures with deep roots across the Egyptian fintech space. It offers a comprehensive suite of digital services that covers the entire payments value chain, from a premier network development and operations services, smart card production and management, to e-commerce platforms for a multitude of sectors, and supported by a robust network architecture. e-finance has cemented itself as an integral part of the Egyptian government’s push for digitization, and has propelled the nationwide forward-looking strategy by developing integrated platforms that are leading Egypt’s digital revolution. The company is skillfully assisting the platforms aiming to develop the ICT sector, boost competitiveness, and attract foreign investment. Established in 2005 to build, operate, and manage the Egyptian Government’s financial payments hub, e-finance has grown to become the “Digital Partner of Choice” for digital transformation in Egypt. The company has made it a mission to invest in people and technology to develop advanced solutions for Egypt and beyond. e-finance’s vision is enabling digital solutions to benefit economies and citizens.

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Ibrahim Sarhan

Chairman & CEO, Financial Technology and Digital Payments

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Government Financial Network

A DIGITAL PARTNER OF CHOICE

governmental financial payments electronically through the government Point of Sale (POS) network. The company leverages over 16,000 Gov-POS distributed across the nation

e-finance is a fintech pioneer and an architect of the financial digital space. The company has successfully built a solid foundation to provide industry-leading digital payments solutions across the nation through the establishment and continued development of the government financial network that forms the backbone of the Egyptian government’s financial digital transformation strategy.

To meet the needs of the evolving digital economy and align with the nation’s financial inclusion strategy, e-finance successfully worked with the Ministry of Social Solidarity to digitize the nation’s subsidy programs over a diverse array of channels.

The company’s revolutionary financial network brings accessibility to multiple initiatives across Egypt’s digital space, offering hassle-free solutions and services that bring efficiency and ease of use in traditionally complex transactions.

•

e-finance’s flagship Government Financial Network processes an annual aggregate of c. 500 million transactions for c. EGP 1.6 trillion between government payments and collections, positioning it as an essential driver for Egypt’s digital transformation. Through the network e-finance managed to digitize the following: •

Wages and Salaries for Government Employees

•

Supplier Payments

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Taxes

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Customs

e-finance’s Government E-Payments Solutions is the backbone of the nation’s payments network, managing endto-end processes between key governmental and financial institutions, suppliers operating on national projects as well as providing digital payment channels for banked and unbanked citizens. e-finance’s holistic and user-centric philosophy has driven them to establish a platform for Egyptians to execute their

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Takaful and Karama: Egypt’s First Conditional Cash Subsidy Program benefiting 3.1mn households with 25mn Takaful and Karama transactions per year.

Companionship program: Egypt’s Subsidy Program for people with special needs, benefiting over 5mn people. e-finance collaborated with the Ministry of Agriculture and Land Reclamation and the Agriculture Bank of Egypt to provide a set of tablets that are used to register agricultural farmland holdings. The company has also provided over 1,600 POS to process fertilizer sales in various agricultural cooperatives across Egypt governorates. e-finance also has over 5,000 digitally integrated fuel stations across the nation thanks to the company’s contract with the Egyptian General Petroleum Corporation, which covers the entire spectrum of fuel monitoring and control for Liquified Petroleum Gas (LPG) repositories.

TECHNOLOGICAL ADVANCEMENTS e-finance’s expansive digital payments services are supported by a state-of-the-art and secure network architecture that is anchored by a team of highly skilled engineers and support agents. As a fintech pioneer for Egypt’s digital transformation, e-finance is committed to ensuring a best-in-class experience for the company’s clients across the nation: Providing first-class nationwide contact center services: e-finance outsources a 24/7 contact center service to complete its fully integrated end-to-end offering for its clients across a wide span of industries and sectors. •

Government Bodies

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Commercial Banks and Financial Institutions

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Civil Society Organizations

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Retail

•

Construction

As Egypt continues developing its digital and financial inclusion strategy and accelerates its transformation to a fully digitized economy, e-finance ensures that the Contact Center is equipped with a cutting-edge tech infrastructure that meets the international standard to best serve its expansive client base. The center has over 800 seats and serves around 1.8 Million monthly calls. Cloud Services: Revolutionary cloud-based services that empower the users of e-finance. The company’s expansive e-payment infrastructure is supported by a leading robust network architecture that ensures the continuity and sustainability of its digital payment channels and platforms.

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Fintech: e-finance firmly believes in driving innovation. Egypt is uniquely positioned to become the leading fintech hub in the region driven and e-finance is focusing on capitalizing on the country’s favorable dynamics and establishing a fintech accelerator that will support aspiring new players in the financial services sector.

By leveraging its strategic partnerships with leading technology and internet service providers, e-finance extends unique and innovative cloud-based services, guarantees exceptional data security and service continuity for its clients and arms them with cutting-edge data analytics capabilities. Operational Support: Extending exceptional front-line support to their wide and growing client base, e-finance offers clients 24/7 desk support services. Its field support service is supported by a stellar team of more than 350 technical support agents that provide a wide range of field, operational and technical support services to its customers, across Egypt’s 27 governorates.

GROWTH STRATEGY The growth strategy of e-finance is underpinned by four key pillars that leverage the company’s well-established core competencies and value propositions to enable digital solutions that will benefit economies and citizens alike. Their goal is to maximize and unlock value for all stakeholders, and bring them ever closer to accomplishing Egypt’s vision for a digital future. The strategy pillars for growth, expansion and realizing e-finance’s goals include: Solutions: Building tailored, scalable solutions for essential services by offering electronic payroll and pension payment programs, social programs, the government’s GFMIS and petroleum payment portals.

FUTURE PROSPECTS OF E-FINANCE e-finance has cemented itself as an integral partner in the Egyptian government’s push for digitization and has propelled the nationwide strategy forward by developing integrated platforms that are leading Egypt’s digital revolution, aiming to develop the ICT sector, boost competitiveness, and attract foreign investment.

Platforms: Enabling third parties to connect and transact by leveraging its expansive network of platforms, channels, and outlets on behalf of government and private sector clients. Services: e-finance’s digital services line of business is core to its business model because it aims to maximize the value generated from e-finance’s platforms and solutions by continuously developing and utilizing best-in-class data analytics, cybersecurity and data hosting.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Growth

Best Finance Books of All Time One of the most crucial aspects of our life is finance. Some people with average income manage to save fortunes while some others with higher salaries end up broke. What’s the secret? Here, we have curated a list of the best finance books of all time which give you the answer to this critical question. Read on!

1. RICH DAD AND POOR DAD | ROBERT KIYOSAKI

In the book, Kiyosaki explains what he learnt from his father and his friend’s father, who is referred to as the “rich dad” in the title, as a child. These lessons explain to parents why schools won’t teach your kids what they need to know about personal finance, how you don’t need to make a lot of money to get rich, what assets and liabilities are, and how you can become wealthy without making a lot of money. Robert has developed a reputation for honesty, irreverence, and bravery with viewpoints that frequently go against popular thinking. He is well known across the world for being an ardent supporter of financial education.

2. THINK AND GROW RICH | AUTHOR NAPOLEON HILL

A number of millionaires and benefactors were interviewed by author Napoleon Hill in the 1930s, beginning with steel tycoon Andrew Carnegie. The outcome was a self-help book that has consistently been at the top of sales lists and promotes the idea that, as long as you’re prepared to share your fortune, having plenty of money is a good thing.

3. I WILL TEACH YOU TO BE RICH | AUTHOR RAMIT SETHI:

Not spending any money at all does not equate to being wealthy. This book demonstrates that, as long as your money is invested and distributed appropriately, you may spend it without feeling guilty. It discusses how to cope with all of the typical financial difficulties, including paying off student loans, setting aside money each month, and even negotiating your way out of late fines. This book includes revised perspectives on technology, money, and psychology as well as some success tales of readers who have really become wealthy as a result of reading this book.

4. THE MILLIONAIRE NEXT DOOR| AUTHOR THOMAS J. STANLEY

For decades, Stanley and his co-author William Danko researched people with average earnings and substantial wealth. You may prevent becoming an under-accumulator of wealth (UAW) by reading this book. Most individuals could save half of what they earn. This book explains why it will ultimately be worthwhile to make that effort. Money buys clothes, but clothes don’t purchase anything! This is why you should always buy automobiles, take trips, and so on with profits and never with principal. That is the most highlighted principle of this book: make profits, then enjoy them, but don’t waste the principal amount.

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THE PSYCHOLOGY OF MONEY | AUTHOR MORGAN HOUSEL

This book offers a fascinating look at the psychology of money and how your ego, preconceptions, and even pride may influence your financial decisions. This isn’t the ideal method to manage your financial portfolio, as you might think. Morgan Housel’s “The Psychology of Money” offers readers strategies for overcoming these prejudices through 19 short tales that all have the same theme. Housel has worked as a columnist for The Wall Street Journal and is a partner with The Collaborative Fund.

6. YOUR MONEY OR YOUR LIFE | AUTHOR VICKI ROBIN AND JOE DOMINGUEZ

Your Money or Your Life is a book that every college student interested in achieving financial independence should read. This book challenges readers to sit back and consider their long-term objectives and the amount of money required to achieve them. This straightforward nine-step approach will teach you how to: • Organize your finances and pay off your education loans. • Slow down the treadmill of spending and working. • Consider your values before spending money. • While saving money, protect the environment In this book, the author emphasises how crucial it is to manage and strike a balance between one’s financial and spiritual energies.

THE INTELLIGENT INVESTOR | AUTHOR BENJAMIN GRAHAM JASON ZWEIG

This is the best investment book ever published, according to Warren Buffett- one of the richest people in the world. It is based on courses Warren Buffett took when he was a young student and was taught by Benjamin Graham. Value investors seek out firms with strong fundamentals and acquire their shares at a discount. They simply have to wait after that. Their true value will eventually be revealed. The epitome of a classic.

8. THE TOTAL MONEY MAKEOVER | AUTHOR DAVE RAMSEY

Your personal financial situation is greatly influenced by how you handle your debt. Need some assistance there? Go through “The Total Money Makeover” by Dave Ramsey. Without sugarcoating it, this New York Times best-seller teaches how to get out of debt and improve your financial situation by avoiding traps like rent-to-own, cash advances, and credit card usage. Additionally, it provides sound guidance on creating an emergency fund, setting aside money for retirement and college, and using Dave Ramsey’s renowned “Snowball Method” to successfully pay off debt.

9. BROKE MILLENNIALS |AUTHOR ERIN LOWRY

When it comes to personal money, the sooner you start learning, the better. That’s why personal finance expert Erin Lowry’s book Broke Millennial is a great place to start. Erin’s goal with Broke Millennial is to assist those who are just starting out in their professions and making plans for the future. This book’s friendly tone and practical advice make it an excellent starting point for learning about anything from investment to retirement planning.

10. THE AUTOMATIC MILLIONAIRE | AUTHOR DAVID BACH

The first chapter of “The Automatic Millionaire” by author David Bach features the captivating tale of a typical American couple whose annual income never gets more than $55,000. Yet they are able to acquire two homes without any debt, send two children to college, and retire at 55 with more than $1 million in savings.

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www.yield4finance.co.uk

Yield 4 Finance Stimulates your business’s global reach Kajal Dobhal|Business Connect

or flagging a name in global marketplace and get ahead of the international competitors, traders are turning towards trade finance solution providers who can assist them to navigate through the unbanked territories where tight regulations, sanctions, and limitations place several impediments in business operations. The trade finance instruments offered by such institutions can allow effortless access and complex knowledge to deal with a number of bottlenecks in business growth, across the international market. In this emulous landscape, Yield 4 Finance has emerge out to be an expert who is considerate of complex trade transactions to impart optimal solution for client’s business expansion. As this fascinating edition features some reliable financial consultants, we have earnestly depicted the success story of this phenomenal company on the cover page acknowledging it’s exclusiveness.

As we sat down for a virtual coffee session with the FounderChairman – Sanjeev Chadha, he enlightened us with some unique business insights and intuitive discernment in the cordial conversation.

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SANJEEV CHADHA Chairman

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of industries, which majorly contributed in acquiring valuable experience and professional acumen to efficiently manage an international enterprise. The iconic dignitary possesses two decades of extensive experience in refined management, operations, and success track record that allowed him to set some robust linchpins for his brain child. His incredible discernment to approach the business operations has carved an eminent position for Yield group in the respective field. Engineer by profession whereas entrepreneur by passion, Sanjeev began his career excursion as a technical assistant. But the flames of entrepreneurship kept kindling in his heart, prompting him to franchise and develop a management certification and audition company named International Certification Limited (ICL) from a Swiss company. This vary first business venture by him witnessed exponential growth and later, was acquired by Moody International. He also takes immense pride to have commenced a few group of colleges and software enterprises under the service parasol of ICL. But owing to some unforeseen circumstances, he has to call off everything and start an entrepreneurial excursion from scratch all over again. The Founder intervened the lands of Dubai where a myriad of opportunities thrives here and there. He launched an outstanding business of trade finance there.

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“I learned everything about it and coupled with skilful salesmanship, I was soon meeting more than twenty clients in my small hotel apartment in Bur Dubai. Backed by strong principals and firm inclination to closing deals, I never looked back and soon progressed to buying my own office properties in Dubai and India, and even having locations in London and Spain,” reveals the magnate Undeniably, the extraordinary inception story of Yield 4 Finance is the end result of sheer dedication and determination and above all, the Founder’s indomitable spirit to go back to the drawing board and paint the picture of his thumping success, which is quite exquisite.

VIPUL CHADHA

Managing Director

COMPANY OVERVIEW

As a unicorn enterprise with exceptional service portfolio, Yield 4 Finance has made a reputed name in financial consultancy domain. Basically, they are involved in issuance financial trade instruments such as Documentary Letter of Credit (DLC), Bank Guarantees (BG), Standby Letter of Credit(SBLC), and other swift messages to enable the clients in effortless dealing with their trade counterparts. Such exceptional instruments allow the end-users to grab cross-border opportunities alongside establishing a global presence. Yield 4 Finance facilitates ‘no-strain’ cash flow as it issues instruments from its niche space and banks without collateral and cash margin requirement. With an exclusive mission to deliver customer-centric financial services to the targeted audience, they aim to carve a reputation of being a NO.1 trusted trade finance solution provider in the upcoming years. The clientele of the company comprises of businesses, primarily traders and contractors as they ceaselessly use bank instruments in their regular course of trade.

AN INTRIGUING INCEPTION STORY

Yield 4 Finance commenced its operations after Sanjeev established strategic alliance with several exemplary pioneers in the respective space. He is a seasoned entrepreneur who has ventured into a myriad www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

WHERE SIMPLICITY IS THE UNIQUE FACTOR

Agile and simple are the terms frequently used by them to describe the company’s distinguished business model. From procedures to documentary requirements, the Yield 4 Finance ensures a seamless business workflow even amidst the strict regulation and compliance across the banking sector. This simple yet sophisticated business model was established keeping abreast of the market needs especially acknowledging the volatile trading circumstances.

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“We effectively recognize the needs of our clients who can fuel their business aspirations and guide them into adherent practices alongside working with the relevant instruments. Our foremost priority is to perform with agility and customerfriendly manner as an alternative to bureaucratic and tedious conventional ways well-reckoned to many,” elucidates the Founder

The company has envisioned to revamp the finance space by catering comprehensive solutions at reasonable cost to its adored clientele. Just like their unique business model, the core values proposed by them are also quite exemplary, that include integrity and dependability spurring their growth factor. The Founder claims that such unique values have been the guiding light to them in establishing a prolonged relationship with the client base, alongside fulfilling their commitment to deliver across the board resources.

ADDRESSING THE PAIN POINTS

The respective sector is a key contributor to GDP of most of the major economies, but still, there is a paucity of opportunities and aggressive competitiveness as businesses are unable to bear the expense of owning banking instruments. This is where the company pitches in. The foremost trouble spot that is being addressed by Yield 4 Finance for its targeted clients is the dearth of business opportunities for MSMEs and unbanked territories pertaining to access the financial tools that can facilitate their imports and projects accordingly. It extends a robust support with its strategic alliance with the banks and financial institutions to aid traders and contractors to effectively participate in their niche ecosystems. Beyond any doubt, Sanjeev’s insightful stewardship has been paving their path of success by being relevant to the market at its peak. Talking about its Unique Selling Propositions, the Founder considers that their swift services, collateral and cash margin free offering, nonstringent documentations and firm guarantee of service delivery gives them a leading edge in the market. All these aspects have allowed them to build and nurture a prolonged relationship with their valued clients that can be testified by the rapid client retention and flourishing partnerships.

SECRET BEHIND THE THUMPING SUCCESS

When asked to shed some light on the entrepreneurial journey and its transformation into a roaring success, the Founder cites that his overall journey involved a fair share of ups and downs. At the age of Four, he lost his beloved father which was quite heart wrenching and then witnessing a major setback in the million dollar worth business, when he hit the crescendo of success. Getting over all these adversities was definitely not a cakewalk, but his adamant zeal to defy all the odds and make a name in the game propelled him to keep forging ahead with heightened spirits. His intuitiveness inspired him to be a disruptor in the industries like the present one. He just dipped his hands in a multitude of specialities while exhibiting exemplary leadership qualities where his core focus has always been on ensuring holistic development of the individuals associated to his company. Prompted by sheer passion and

MOHIT CHADHA

Chief Executive Officer arduous hard work, Sanjeev became a pioneer to have introduced state-of-theart solutions that are not known but imperative in the present scenario. The obstacles dodged by him bestowed a righteous sense of perspective over him to sail through the adversities with a positive mind-set and unyielding attitude, which has been his ‘success mantra’ so far. Today, his determined efforts paid off pretty well, making him a well-reckoned name across the domain. But he doesn’t want to limit it to this extent, rather yearns for accomplishing exceptional aims for his valued brainchild.

R&D- PIVOTAL FOR GROWTH

According to the Founder, R&D has played instrumental role in pick-pointing gaps while initiating regulatory adherent arrangement that can help the clients in numerous ways. For the company’s incessant undertaking of advancement and laying the groundwork for beneficial collaborations, this segment has proved to be crucial. Owing to their intense R&D programs, they have been able to offering businesses with offshore account with multiple currency options. And in the same direction, in an collaborative effort with Micro Capitals Bank, the company has been incessantly trying to formulate some outof- the - box products that can contribute to enhance customer experience by making international banking more inclusive. 49

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practices. Transparency and cohesiveness are their foremost priority to deal with the clients while marketing their services, and the administration ensures regular training sessions to the employees to convey their extraordinary services to their clients alongside being in sync with their core principles. In the finance sector, integrity and trust are the linchpins to succeed, and the management has always been dedicating its efforts towards this direction. For this, they give credence to more employee engagement that will eventually transform into exemplary customer satisfaction.

SIGNIFICANCE OF TECHNOLOGY

With the world gradually driving towards a tech-dominated era, businesses also need to be in absolute harmony with tech trends to be relevant in their respective domains. For Yield 4 Finance, technology has been allowing it to establish better communication with its adored clients across crossborder territories. Owing to its international interactions, the company majorly relies upon digital platforms, social media, video conferencing tools, etc, that educate clients and business partners about this field.

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FLAGGING THE NAME, CROSSING THE MILESTONES

“We have also partnered with Micro Capitals Bank who offers offshore accounts opening apart from trade finance services, and it is 100% digital. It allows businesses to have access to bank accounts and various currencies that may be deemed difficult to obtain with their local banks and hinders them from connecting with suppliers abroad,” claims Sanjeev, about their reliance upon the technology.

In its phenomenal journey so far, Yield 4 Finance has been able to extend its reach to global locations such as London and Spain. While witnessing growth in leaps and bounds, the company has been able to significantly upgrade and add more manpower in its Dubai and India based offices. Crossing over the expected milestones, their office locations have been shifted to better and bigger localities that foretells their mushrooming growth. Above and beyond these, they have been able to foster alliance with a plethora of firms with international repute and signed multiple licensed agreements with their associates in emerging and lucrative markets.

Moreover, they are also about to heavily invest on infusing advanced technology in their business operations to facilitate seamless work flow.

As the company foresees a brighter and blazing future ahead, it is on the verge of constant improvement while expanding its service wings to newer geographies by inaugurating workstations at five different locations and establishing a steadfast presence in Asia, the Middle East, Europe and Africa.

CULTURE CONTRIBUTING TO THE GROWTH

At Yield 4 Finance, the employees have the liberty to voice out their ideas in terms of improving the business operations. In this process, there is a perfect involvement of the workforce with regular brainstorming sessions and adaptation of best industry

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We are working on innovative products and creating more partnerships to continually assist in trade flows and development projects. Ultimately, we are looking into developing a full-fledged bank that adapts the latest transformational technologies that will address the market gaps and add value to our users,

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concludes the Founder

WORDS OF ENLIGHTENMENT FOR THE ASPIRERS

“Never stop. Persistence is what brought us and what is continually driving our remarkable headway. The rules of the game in this business is always changing, but one must not hold back in striving to keep up and working on pioneering solutions. It is okay to experience downfall as our proponents have, taking inspiration from Richard Branson’s statement‘The best businesses come from people’s bad personal experiences’. Like how we help our clients, these businesses are often left unsupported but as they hope to go play on a bigger stage, we bring them a range of possibilities. Through our agile innovation and quest for integrated support, we hope to uplift even the newcomers who are starting small, and be with them as they work their way through a far-reaching platform. Apart from helping our clients, we also help our team and partners with their personal and professional growth. We invest time and resources in coaching our business partners, even those who does not have the technical knowledge and experience. I believe in anyone’s potential as I was once there. We believe in everyone’s latent talent, especially those who have the determination and eyes on making leaps in their careers. The first step is to aspire, but persistence is what will drive you to the finish line.” Sanjeev Chadha, The Founder and Chairman 51

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Technology

DARK WEB The web is divided into three sections: the surface web, deep web, and black web. The majority of the websites we visit are part of the surface web, with the deep and dark areas of the internet lying beyond.

he dark web facts are the web portion that cannot be reached without special software or a computer that has made a special connection to the Internet (such as TOR—the Onion Router, a type of proxy not visible in regular browsers). Many sites on the dark web are dangerous because they require or contain illegal content or other material people wish to keep hidden. Much of this content and material may not be legal; many journalists and activists have used these sites to research.

What is the dark web?

The Dark Web is the portion of the Internet that remains largely untouched by the legally mandated content filters most commonly associated with the Internet, called “content filters” or “firewalls.” Because of these filters, people often talk about ‘the dark web’ and ‘Tor’ interchangeably. However, this is a mistake. While content filters may block some websites on the Dark Web, many other sites can be accessed freely. The Dark Web is usually associated with the so-called “Hidden Services” on the TOR network. Hidden Servers are the onion routers at the heart of most Dark Web sites and connect to many other servers that together make up a network, which appears as one site to anyone else on the Internet who does not have access to that network.

Let’s take a closer look at the Internet’s three primary components: the surface web, deep web, and dark web.

The Surface Web: this is the part that anyone can access if they’re online. Search engines like Google and Bing navigate this part of the web, as do social networks like Facebook, Twitter, and Instagram. It’s where most people are most comfortable – it’s what we use daily. The Deep Web: it is a massive database of information that search engines can’t find. It includes things like the databases for Netflix and Amazon Video, secure government websites, pages behind paywalls (like JSTOR), and many more sources of information that are open but hard to find directly. The deep web is often confused with another term that pops up from time to time: the ‘dark web.

location. Because of its encryption and anonymity features (as well as other security measures), Tor can be used for everything from messaging family members living abroad to conducting anonymous business deals or checking website availability before launching a public website.

Why Do People Use the ‘Dark Web’? People may use the ‘Dark Web’ for three primary reasons:

Dark Web: The dark web, also known as the darknet, is a section of the Internet that requires special software, configurations, or authorization to access. The dark web facts are used for many different things and can be tricky to define. It’s typically split into three categories: 1. 2.

1. Anonymisation:

For various reasons, people may want to safeguard their online identity. In some cases, disclosing their identity could put them in danger — for example, in countries where the government restricts free speech or political repression occurs. Others may use it to reduce their chance of becoming a victim of crime, such as those who have been cyberstalked or are concerned about online banking security. Tor is mainly used to anonymously surf the Internet, with Hidden Services accounting for a modest fraction of its traffic (below).

Hidden Services: These websites can only be accessed using special software or a computer with specialized builtin features that are not accessible to ordinary internet users via I2P hidden services: I2P is a technology that allows users to route their web traffic through other individuals’ computers, making it impossible to trace the path of a user’s internet traffic. via Tor hidden services: Tor is free software and an open network that helps you bypass web censorship, access websites and communications, and keep your online identity private.

2. Accessing ‘Hidden Services’:

Most people use the Tor browser to navigate what is known as the “dark net,” essentially a hidden section of the Internet that requires special software or configuration. They typically require you to complete a simple registration process, which can include answering questions about your identity and reason for using Tor and may have rules restricting access to minors.

How does Tor work?

Tor is an open network that anyone can access. To become a Tor user, you must download the Tor browser, which includes special tools that allow you to surf anonymously and access hidden Dark Web sites. The Tor browser works with the Tor network by encrypting data and sending it through multiple locations worldwide – making it almost impossible for any “man in the middle” to intercept your communications or www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

3. Illegal activity:

After all, this is the part of the net you should be wary of when it comes to illegal activity. For example, pedophiles or drug dealers may use the service to communicate anonymously and protect 54

their identities. They may also wish to avoid detection by law enforcement agencies in their countries.

How to access the dark web with Tor?

You can access the dark web with Tor. Tor is open-source software that helps you defend against traffic analysis, network surveillance that threatens personal freedom and privacy, confidential business activities, relationships, and state security.

The dark web protects you by bouncing your communications around a distributed network of relays run by volunteers worldwide: it prevents somebody watching your Internet connection from learning what sites you visit, and it contains the sites you visit from learning your physical location. Tor works with many of your existing applications, including web browsers, instant messaging clients, remote login clients, and other applications based on the TCP protocol.

and purchase a hosting space for website on the dark web. 3. Once your website is ready, it’s to be hosted on the dark web! As everything, it’s always better safe sorry.

your glad with than

Is the dark web the same as the deep web?

How to create a website on the dark web?

While similar in some ways, there are two different things. The deep web is the broad term given to the vast trove of unindexed content on the web, including images, videos, and other kinds of data. The deep web is socalled because it exists outside of search engines and other accessible systems. One entrance to the deep web is Tor’s hidden services.

Some of the main steps involved in creating a website on the dark web are:

The dark web refers to sites that are served from servers on Tor’s network, do not follow a standard login procedure, or require physical access to specific IP addresses (such as onion sites). Sites on the dark web often need users to install special software or use cryptographic encryption to gain access.

To create a website on the dark web is very simple but also cost-free. There are plenty of sites offering free hosting and domain names. To create a website, you only need a domain name and an account with one of the supported providers.

1. You will have to get a domain name from any supported providers. 2. Now, you need to log in to your account

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Automobile

THINGS TO CONSIDER

When Buying Car Insurance Introduction:

pensates you for losses due to damage or theft of your car from a variety of perils.

Choosing the right car insurance policy can be a daunting process. There are various different types of insurance that you can protect your vehicle with. But everyone has their own needs. However, some general guidelines to follow when choosing your car insurance should lead you in the right direction. Many car owners purchase car insurance as a formality without thinking about it. In many cases, choosing a car insurance product is solely based on the cost of the premiums, and this could easily mean you won’t have enough insurance to protect yourself in an accident. In this article, we will go over a number of things to consider before buying your car insurance. Keep reading to get informed.

02. Know what is covered by third-party car insurance: When buying a third-party insurance policy, you should be clear about what is covered and what isn’t. Typical things you think are covered, like accidents that happen because of fire or floods, may not necessarily be part of the coverage. This is why reading the fine print and understanding your ranges is essential. Third-Parties car insurance covers damages towards another person’s car or property. Repairing damages to your vehicle incurred due to an accident involving you and other cars or property. Third-party claim towards another person’s car or property. Medical expenses incurred by victims of your accident. Compensation is paid to a victim due to death or disablement caused by an accident in which you are involved.

01. Having third-party insurance is mandatory: A third-party insurance policy is a kind of motor insurance that covers the losses or damages done to the property of any third party during an accident involving your car. For example, if another motorist hits your car and it results in damages, you will be compensated for those damages under this insurance policy. While the law in India mandates that all cars must be insured against third-party risks, comprehensive insurance is a comparatively new development where an insurer com-

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03. Consider the Brand: Even if you don’t care much about brands, when you bought the four-wheeler, you must have thought about the brand of the car. The insurer’s brand should also be given some thought. Shake hands (virtually!) with the business if you like what it stands for and start a new partnership by insuring your vehicle there.

04. Range of the Cover: This is one of the important things to consider when buying car insurance. Insurance that covers little under a broad range of risks is good, but insurance wherein you have to be clear about what type of risk you want it to cover is better. It gives you more control over your costs and makes you better aware of what strictly your car insurance will protect you against. 05. Add-on Covers: If you are in the market for new car insurance, you should consider adding it to your car insurance policy. Adding on covers can be as simple as purchasing a collision insurance policy or upgrading your compulsory third party to comprehensive. Once you have decided which add-on covers you want, it will be time to choose a third-party car insurance policy from your chosen insurer. Each insurance cover has a price offered by the insurer, and you can further add covers. 06. IDV and Premium Relation: The IDV of a car, also known as the insured declared value, is similar to the car’s current market value. For instance, if the car costs INR 7 lakhs when purchased a year ago due to normal wear and tear, its IDV would be INR 5 lakhs after two years, and it is not the value at resale. You can choose the IDV of the vehicle to be insured from a list provided by digital insurers. Compared to paying more to insure a car with a higher IDV, you have to pay a relatively lower premium if you choose a lower IDV. This relationship can be expressed as follows: the higher the asset’s value, the higher the insurance premium must be paid. 07. Claim Settlement Ratio and Reviews: Claim Settlement Ratio is a measure of the adequacy of the insurer’s services in settling claims which is expressed as a percentage of the claim sum. Since it can be challenging to get details of an insurer’s claims settlement ratio, compar-

ing third-party car insurance companies based on customer ratings or checking for reviews online makes sense. This will help you make a choice that best suits your needs. 08. Accumulate the no-claims bonus: Claims settlements are part of a motorist’s experience with an insurer, which includes purchasing an insurance policy, making a claim to the insurer, and settlement or settlement money. The no-claims bonus is the amount the insurer pays on account of a motor policy that has been with it for three months without making a single claim. Some insurers pay the no-claims compensation based on certain minimum premiums. If you can afford such a premium, it would be worth paying it to get closer to the bonus you want. 09. Dealer-offered Insurance: The dealer may have an insurance policy that he offers to you. If so, checking the extent of coverage and its terms and conditions before buying it is good. It is easy to compare third-party car insurance with the dealer’s policy once you have gone through the terms and conditions of the policy offered by various motor insurance companies. 10. Don’t forget to ask: If you decide on a particular car insurance policy before giving a second opinion, don’t hesitate to ask about anything left out from the fine print that can affect your financial future if forgotten. You can get this information from the insurer’s customer care department or comparison websites that display these details in an easy-to-read format for comparison. Conclusion: Car insurance is a necessary thing if you are a car owner. If you have considered the above ten things to consider when buying car insurance and still have doubts, check out the market and get your answers there. Go ahead, you have to know the pricing and benefits of each company.

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Auxilo Finserve Pvt Ltd. NBFC- Education Loans & Education Institution Loans

AUXILO FINSERVE QUALITY EDUCATION MADE ACCESSIBLE Dr. Amit Mishra|Business Connect

Auxilo Finserve, with its aim of making it possible for students to study abroad with up to a hundred percent cost coverage arranged within the shortest possible time, is no less than a dream come true for many deserving students. This innovative project was launched in 2017 by Neeraj Saxena (MD and CEO), and has a number of truly stimulating education loan offers up its sleeve. With customized education and education institution loan, Auxilo Finserve enables students as well as schools to “dream big!” COMPANY OVERVIEW Auxilo Finserve Pvt. Ltd. is an NBFC registered with the Reserve Bank of India. The company’s focus is on providing easily accessible education loans to deserving students for higher studies in India as well as abroad. The company not just makes higher education accessible to all, it has made it more convenient than ever. The loans they provide are tailor-made to suit every client’s specific educational requirements. They endeavour to give education a promotion with their Education Institution Loan (EIL), which can be utilized by schools to enhance and develop infrastructure, services and offerings. They cater to K-12 schools, boarding schools, primary/ pre-primary schools, as well as coaching centres. Auxilo has a range of products to serve the financial needs of educational institutions and thereby improve the education landscape of the nation. With offers and products like Loan Against Fee Receivables, Infrastructure Loans, Construction Loans, Loan Refinance, and Land Loans, Auxilo has left no stone unturned in their pursuit to raise the bar of education in the country. Auxilo Finserve is a blessing for students www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

NEERAJ SAXENA |MD & CEO

wanting to pursue higher education in India, and even more so for those interested in exploring opportunities abroad. The company offers the widest country coverage: whether it be the UK, USA, Canada, Germany, or Ireland, Auxilo expands the boundaries for aspirations. They understand the dynamism involved in an overseas education, thereby bringing a suite of features that make Auxilo the perfect partner to help conquer all the challenges. It offers Loan Structuring, that helps mitigate unexpected costs of living abroad and be prepared for the experience financially. The company also provides Pre-Admission Funding, which is extremely beneficial for the deserving students. Higher studies in an India that boasts of world-class institutions are nonetheless a logistical nightmare. However, the complex admission processes, rising costs and inflation, and financial constraints are navigated easily with the help of Auxilo Finserve. With its in-depth knowledge of the industry, and its commitment to making it all effortless for students, Auxilo Finserve is the best choice when it comes to education loans. The company not only customizes the loans as per the client’s needs, it also takes the extra steps to reduce stress for the students and their parents. They offer unique benefits for students interested in studying in India and abroad, such as multiple co-applicant facilities, flexible repayment plans up to ten years, to help reduce the burden on your finances and so on. PRO-EDUCATION, PRO-EMPLOYEES Initiatives like Pre-Admission Funding, Flexi-Repayment, etc have made Auxilo Finserve stand out among other education loans providers. With its hassle-free system of management that helps students acquire loans in merely four steps: REACH: Reach out for loan counselling where they understand the student’s requirements and give out solutions. APPLY: Submit the loan application, with minimum documentation and admission details. LOAN STRUCTURING: They verify and validate the documents and tailor-make an offer best suited for the student’s needs. GET FUNDED: Once the offer is accepted by the student, the loan can be disbursed. Its unique initiatives work to make education accessible for those in need, and especially for those with talent. The customized education loans and flexible repayment 63

options make the loans truly helpful for individuals and not another burden to repay at the end of the day. The education loans are potential based, with the underlying aim to provide a chance at education to those who deserve. As Mr. Saxena puts it, “Our mission is to enable the freedom of financial access across the country by building inclusive financial algorithms and models that shall look at potential financing rather than the usual route of pure-play credit financing,” The company is not just devoted to the students and their education, it also pays special attention to being a new-age organization with a holistic work culture. Auxilo understands that a well-motivated team makes for a well-functioning company, and has policies that make it convenient for the employees to work there. Flexible timing, smart-casual dressing and provision for emergency and mandatory leaves are some of such practices and policies. They are in true sense a group of young entrepreneurs wherein the average age of employees is not more than thirty-two years. Nearly a quarter of the workforce are women, and their effort is to increase this number as they grow in strength. THE VISION The Vision of Auxilo Finserve is “To be a fair, valued & profitable institution with a healthy portfolio of happy customers.” Their aim is to be an altruistic institution driven to support the educational needs of the country. For without education, the contributions of individuals for the growth of the country and society can hardly be maximized. Auxilo believes that it’s the right of every student to avail quality education. The company tirelessly works to fulfill individual dreams, and along with it aide the development of the nation on the whole. Its commitment towards uplifting the education sector is reflected in the unprecedented standards of quality and dedication with which the company works. “Auxilo endeavours to influx finance to catalyse aspirations. Our core philosophy extends into our financing matrix that comprises three major components: Aspirant, Aspiration & Access.” An aspirant that is deserving and motivated, with dreams that won’t let them sleep, deserves access to a quality education worthy of their talent and spirit, and it is Auxilo’s motto to make this possible for them. It has never backed down from traversing an extra mile to meet the requirements of its clients. Auxilo Finserve has become one of the foremost organizations that make it easier for the youth of India to gain access to education.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

BARGACH FINANCE PVT. LTD. RAHUL JOHRI

Chairman, Bargach Finance

A LEADING FINANCIAL SERVICE PROVIDER WITH A PURPOSE Kriti Anand|Business Connect

head office in Kolkata, West Bengal and offers small-ticket loans of INR 50,000, INR 75,000, INR 1,00,000 for a tenure of 2 years. Bargach has applied for an NBFC-ND license from the RBI.

Sighting the kind of affirmative response they have got from their clients, they have planned their expansion in the states of Odisha, Madhya Pradesh, Chhattisgarh and Tripura in the next 3 years.

HOW DID IT START?

Loans are provided for Home Improvement, Drinking Water and Sanitation to women customers in rural and semi-urban locations, having a similar socio-economic profile, through seven branches spread in West Bengal, managed by Branch Heads and Relationship Officers.

Considering these alarming issues, the leadership team at Bargach Finance pondered towards providing these basic needs and facilities. However, having a commercial sense was important to remain focused and for creating a long-term venture. Foreseeing a high demand/ opportunity, they started gathering expertise to build a sustainable business model. What ignited the final step towards the formation of their venture was the market opportunity in the sector since there is limited number of organizations, which have similar product ranges as theirs. With their remarkable ideas, services and solutions-oriented approach, they have helped in improving the living standards of society and overcoming the hygiene problems in the interior parts of our country.

SYNCHRONIZING WITH THE LATEST NEEDS

“We are into educating the women of rural society about health and sanitation before they become our customers and also on how to address this problem through our loan products “

AN EDGE OVER THE PEERS

It’s vital to be competent in today’s era by being unique in the entrepreneurial space. They do not have peers in the same field of business as other lenders do not have these products in their product basket. Also, there is a huge gap in demand and supply, which is unnoticed by peers. In their field of operations, they have other organizations giving out loans for income generations, home loans, car loans, etc. With their distinctive motive and concern, they stand out to be a unique organization that mass-market people can look up to for their very basic needs. Through in-depth research and market penetration, they have gained an edge over their peers. Their loan products are the key and the daily/ routine interaction with their clients has helped their vision to build a sustainable business. A dynamic set of field operatives can be approached by the customers whenever there is a query and they are always happy to provide clarity on the product offering.

ACHIEVEMENTS AND MILESTONES

The incredible and noble objective of the organization along with sincere efforts has resulted in visible achievements and accolades. Some of the major milestones for the company has been partnering with two renowned financial institutions to start operation. They have been successful in servicing more than 275 satisfied customers in 3 months. The Company has placed extra focus, even in the present uncertain times, on staying in touch with stakeholders such as clients, employees and lenders.

FOR THE FUTURE

RAHUL JOHRI SUMS UP BY SAYING “We have just begun with our operations and are already getting encouraging response from our team as well as customers who have been motivating us to look at a larger picture for the organization’s future. However, such a large expansion is going to take 3-5 years since we are learning day-by-day by gathering experiences. We plan to touch half a million households through our ideas by 2024’’

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Health

Know These

Wise Things Before Buying a

HEALTH INSURANCE POLICY

3. Global Cover:

edical emergencies are one of the most frightening uncertainties of life and the cost for healthcare is always high. Hence, it is a sensible and most required pain to take a health insurance policy. However, it may be quite confusing to select one among so many when all of them claim to be the best. Here, we have put together a number of things that you can consider before buying a policy. The list will ease this pain and help you select the most suitable health insurance policy for you and your family.

The term “global cover” describes medical costs that are incurred outside of India. The insurance restrictions, terms and conditions, such as the requirement for confirmation of diagnosis in India alone, according to experts, must be understood. You may also need to consider the nations covered by the plan and the mode of payment, such as if it is cashless or reimbursed.

4. Day-care Treatments:

Day-care operations and treatments are those that need hospitalisation but are only needed for a few hours. Therefore, it is when you need to be admitted to the hospital for a procedure or therapy that only lasts a few hours. The removal of the nasal sinuses, chemotherapy, radiation therapy for cancer, and cataract surgery are a few examples of day-care procedures.

1. Adequate Insurance Amount:

First thing first, when choosing a health insurance plan, you should choose the amount prudently because it covers medical bills for a year. Consider your age; the younger you are, the less you need to insure. To determine if a premium is affordable, one should consider his or her income level. The add-ons are also important since they affect premium amounts. Make sure you choose a sum covered that will not fall short in an emergency and has a reasonable price.

5. Coverage for New age Treatments:

New age treatments are more precise and capable of producing greater results than conventional therapies since they are more advanced medical procedures. To see if such contemporary operations are covered by your health insurance coverage, check. CyberKnife, robotic surgery, and stem cell therapy are a few instances of modern therapies.

2. Cashless Health Insurance:

A cashless health insurance policy means that when you receive the necessary treatment at a network hospital, your health insurer will take care of the expenses without you having to wait for reimbursement from your health insurer. Nothing from your own pocket has to be paid.

6. Co-Payment Clause:

The policyholder is required to pay a certain proportion of the hospital cost in accordance with the co-pay clause. Since you are responsible for a large portion of the hospital expense, such plans are less expensive but also provide less

The charges will be handled between the hospital and your insurance provider; all you need is a permission from your insurer or third-party administrator. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

reimbursement. If you want to utilize this clause, be sure to carefully read it.

7. Maternity Benefits:

Pregnancy expenses have risen dramatically along with medical costs. Women must purchase a health insurance plan with maternity coverage. When collecting maternity benefits, one should take into account the sub-limit and the appropriate waiting time. Check for any insurance-related exclusions and make sure the policy covers outpatient costs as well.

8. Lifetime Renewability:

Go for healthcare insurance that is renewable for life. You should choose a health insurance policy that includes lifetime renewability because the likelihood of developing ailments and illnesses increases as you age.

9. Sub-Limits:

Sub limits are predefined caps on a portion of your claims total value. These sub-limits will only be applied under specific circumstances, not to the whole bill amount. The three primary categories of sub-limits are: Pre- and posthospitalization costs – note that these may also be subject to a sub-limit if your insurance includes pre- and posthospitalization costs. Hospital Room Rent: it is typically covered by your insurance company, but only up to a particular level, typically 1% to 2% of the total amount insured or some other fixed amount of money. Treatment for certain diseases: treatment for certain disorders, including routine and scheduled surgeries for kidney stones, cataracts, piles, gallstones, hernias, tonsils, or sinuses, are frequently covered only up to a predefined amount by your insurance company. As a result, you may only file a claim for the sum specified by the sub-limit clause at the time of claims; any amounts over that must be paid by you personally.

10. Ratio of Claim Settlement:

A policyholder must understand the claim settlement ratio, which is another crucial aspect. The ratio is the proportion of claims that an insurance company resolves in a given year out of all claims. It serves as a sign of their credibility. The insurer is more reliable when the ratio is higher. So before selecting an insurance company, conduct some basic research.

11. Free Health Check-ups:

Many health insurance companies in India provide their policyholders with free preventative health check-ups. Most of these companies only provide the free health check-up service if you don’t submit a claim. Regardless of the claim history, health insurance provides this facility under the chosen health plan. As a result, you need to confirm if your health insurance coverage includes a free health check-up option.

12. Claim Process:

Another important thing you must know about the policy is the claim settlement process. Examine the terms of the policy, then follow the procedure the insurance provider uses to handle health insurance claims. When resolving health claims, a simple claim process is beneficial. Choose a health insurance company that is renowned for its quick claim settlement services after doing some research and reading online customer reviews. In the end, we would say that having a health insurance policy can be a big financial relief in case of a medical emergency and can save you from a big setback. Apart from mentioned points there could be some more points such as age criteria, premium and coverage combination etc which could be specific to an individual’s needs and should be kept in mind before buying a health insurance Policy.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

DEB MUKHERJEE Driving the Wheels of Financial Innovationin India Indranil Roy|Business Connect

ince the early 2000s, organisations are comprehending the importance of digital inclusions to curtail risk factors and improve customer satisfaction. For that, Companies aren’t only investing in technology but also in proactive leadership that can drive digital transformation. Mr. Deb Mukherjee, CEO of Wisdom Capital, is undoubtedly a perfect example of a new-age leader. His venture is one of the robust online trading models that has a PAN-India client base.

CONCEPTUALIZING A NEW AGE TRADING MODEL Mr. Mukherjee is an award-winning entrepreneur with extensive experience in the investment world, particularly in stockbroking and financial markets in India. Starting almost a decade ago, he witnessed the changing tides in the Indian Financial space and observed how innovation will change the game in the stockbroking industry. To build and grow in such a scenario, in 2013, he pioneered the online discount brokerage model and created a brand - Wisdom Capital. Wisdom Capital is a sister concern of Ashlar Securities which is a member of the NSE, BSE, MCX – SX, MCX, and USE and offers trading facilities, software support, technical charts, app based services, and digital marketing services. Wisdom Capital’s clients can trade in the following segments: Equity, Futures, Options, Currency trading, Commodity trading. In addition, Mr. Mukherjee’s fervour about technology is unsurpassed. Right from the start, he introduced the E-KYC model in his company, taking a step towards conserving nature and streamlining the business operations. The paperless KYC process also helped the company to achieve sustainable corporate governance. Apart from that, he offered fair pricing to investors and broke the cycle of exorbitant brokerage charges by introducing a uniform no frills service package for all trading solutions and platforms. And with his prowess, Wisdom Capital has turned www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

DEBU PRASAD MUKHERJEE

Founder & CEO

into a leading capital market services provider with over 20,000 clients spread across India. FORAYING INTO VARIOUS SEGMENTS With the staggering success of Wisdom Capital, Mr. Mukherjee thought of entering other business arenas. As a result, he founded Wisdom Group, commissioning multiple businesses under one umbrella: Wisdom Tree Ventures (IT industry), Wisdom Capital (Financial markets), Wisdom CRM (SaaS-based Software), Wisdom Policy (Insurance Aggregator), and WishGames11 (Fantasy Gaming). However, his vision extends far beyond business operations. He aims to educate society on the importance of financial planning in daily life. This draws out his idea of developing a trading school where he and other financial leaders can enlighten people on financial literacy. ADDRESSING PANDEMIC ERA While his knowledge and experience have been the bedrock of his ascension, Mr. Mukherhee believes people who struggle to earn a livelihood and make ends meet are the real Heros: They inspire him. He was petrified, by the chaotic scenario of 2020 – how people were losing jobs, the economy was sinking, ruining millions of livelihoods. To help the community, he decided to enter the fantasy gaming industry because it offered people an opportunity to ‘play and earn’ at their leisure. After plenty of research, analysis and feasibility studies, he found an eminent gaming platform: WishGames11. In simple words, the platform is a fine blend of entertainment and earning opportunities. Users can earn while playing their favourite sports. What makes it more interesting is that upon registration, users have the option to earn a living for a lifetime. Instead of barely being a cheering spectator in front of screens, the app allows sports lovers to have real-life entertainment and an earning option: this distinguishes Wishgames11 from other platforms in the market. Furthermore, he extended a helping hand to the needy people in the vicinity of his corporate office. Wisdom Group supports the livelihood of numerous people belonging to the economically backward and underprivileged section of society via an NGO: SERVE. NAVIGATING BUSINESS THROUGH COVID-19 COVID-19 has taken the world by storm, affecting everyone and everything in the way. But, the scenario didn’t shake the will or dedication of the great master at Wisdom Capital. While it took some time to map a credible framework, Wisdom Capital found its way with work from home options for its employees. Wisdom Capital refrained from cutting down salaries; on the contrary, it gave away 20% hike and double salaries to its people providing essential services during this global health crisis. As a result, many employees showed up at the office to show solidarity. Wisdom Capital understands the value of people as an asset. More than technology and practices, they are the foremost resource. Even in isolation, it becomes prudent for leaders to create an inspiring culture. He held interactive online sessions with every employee to motivate them and inspire trust for the Company. “My approach is to have faith in the employees and boost their confidence at regular intervals by holding training sessions with them”, asserts Mr Mukherjee. 71

CONTRIBUTING TO THE GREATER GOOD Addressing the pain points of society has been one of the critical concerns for Mr Mukherjee. According to him, contributing to social causes is the moral responsibility of every leader and entrepreneur. Wisdom Group runs SERVE (Street Family’s Empowerment Through Reducing Vulnerable Environment): an NGO that addresses the concerns of the underprivileged segment of society. The foundation focuses on the core challenges and hosts multiple campaigns, such as medicine donation, free empowerment programs, and food stalls for daily wage earners. ACHIEVEMENTS AND ACCOLADES Mr Mukherjee’s years of endurance, innovative thinking and style of leadership hasn’t gone unnoticed in the business fraternity. In the last few years, his Company has earned several prestigious accolades, marking its distinguished excellence. Few noteworthy mentions include:

• • • •

India’s Most Trusted Fantasy Gaming Brand 2021 Best Brand Award in Uttar Pradesh Brand Leadership Awards in 2021 India’s Most Trusted Brand by the White Page International in 2020 Amity Corporate Excellence Award for Promotional Financial Literacy

The Company also won the epithet “Best Branding Award” from World Marketing Congress at Uttar Pradesh Brand Leadership Awards, 2021. Last but not least, the Company has earned the title of “India’s Most Admired Financial Advisory Services Company”. Last year, at a conclave by White Page International in Mumbai, he was bestowed with the “India’s Inspirational Leader“ award. His most recent venture WishGames11 is a blend of the best innovation techniques and technological advancements, making it one of the fastest-growing brands in 2021-21. As its key figure, he aims to explore the M&E (Media and Entertainment) space focusing on areas like AI-powered virtual reality and cloud streaming. PLANNING THE ROAD AHEAD Technology is the key that will shape the future of every business. Blending innovation with operations has set the wheel in motion for Wisdom Capital and it has already made a strong foothold in the Fintech space. As the future unveils, incorporating cloud based services and AI embedded engines at all levels and upgrading existing technology at every step will be crucial for staying ahead of the curve. Apart from that, Mr. Mukherjee is single handedly spearheading the campaign (on print, social, legal front) against the Peak Margin circular issued by SEBI; the circular makes it mandatory for stockbrokers to collect upfront margins from clients in intraday trading. Mr. Mukherjee believes that this is unconstitutional and against the greater good of the investor/trading community. He took it upon himself to fight the cause of the retail participants in the market. A number of participants have now joined the campaign against the impugned circular of SEBI. Only time will tell the outcome of the battle but Mr. Mukherjee’s spirit is incorrigible and must be applauded. When he wins, retail investors of the future will thank him for it. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

GAGA India

TAKING FINANCIAL PLANNING TO A GREATER EXTENT Kajal Dobhal|Business Connect

Concentrate on your wealthy future. If you are busy with your ambition, I am with you. Because your ambition is our final goal

GANESH GANDHI Founder

Over the last few years, the competency for the financial consulting industry has been steadily growing. People are becoming more receptive to financial planning. It not only proffers support to customers seeking financial advice but also opens the gate to enormous opportunities for budding entrepreneurs to begin their career in the industry. In this exclusive article, we are going to shed light on one such dependable financial service provider, GAGA India, a group of prominent companies serving the world with reliable financial and various other services.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

ILLUSTRATING THE COMPANY AND SERVICES GAGA India is a prestigious group of companies headquartered in Chennai, India with a branch office in Tennessee, USA. They are a renowned name in providing premium Financial, Civil Engineering and Exim consultancy services. The company has been fortunate to collaborate with some of the most acclaimed organizations like Upstox, Motilal Oswal, Razorpay, Amazon, Emudra, PayU, GoDaddy, SBI Life insurance and considerably more pre-eminent names to mention. Founded in the year 2017 with a minimum loan amount, the enterprise has now grown to be progressively expanding its horizon by acquiring various units (GAGA India, GAGA Share, GAGA Mutual Fund, GAGA Wealth, GAGA Realty, GAGA Homes, Nithya Subam and GAGA B2B). The company works with the mission to help those who are at the bottom of the pyramid by following the path of vigour, dedication and innovation. While they are diversified into numerous sectors, we are going to highlight the company’s foremost services : Mutual Fund

•

Share Market

•

Investment Advisory

•

Marketing Consultation

•

Business Consultation

•

Business Documentation

•

Civil Engineering & Real Estate

•

Web Design & Domain Reseller

A STANDARDIZED BUSINESS MODEL

GAGA INDIA’S UNIQUE BUSINESS MODEL IS DIVIDED INTO THREE CATEGORIES, EMPLOYEES, PARTNERS AND CUSTOMERS. To begin with employees, the company believes in their potential and efficacy. The management ensures no immediate workload on anyone. The personnel is permitted to conduct their work from home following nominal working hours. As far as the partners are concerned, the firm does not believe in compromising the quality of service provided. It is of utmost supremacy for the company to deliver top-grade services to its clients. Coming towards the customers, the organization renders one platform for all the investment solutions. It promises to provide the finest results to its customers. Besides, the business is entirely digitalized ensuing low expenses. STRUCTURED R&D AND TECHNOLOGY Financial investment is not a one-day goal, it is a lifetime goal. For every business venture to accomplish a notable market position, it is imperative to continually upgrade in terms of technology and methods. Using modernized tech tools that give a futuristic outlook plays an essential role in the company. GAGA leaves no stone unturned to leverage the best approach satisfying the expectations of its clients. They procure an adept Research and Development team working ceaselessly for the growth of the company. It analyses the possible loopholes and develops new ways to exterminate errors. It also brings out the leading technology that can be implemented by the team.

The enterprise was established by The Founder, Ganesh Gandhi with a vision to become one of the most credible financial consultants in India and abroad. He is an extremely knowledgeable and diligent leader, working efficaciously for the development of his company. He has designed a functional business model, aiming to attain favourable outcomes for the company.

The Founder of GAGA India, Ganesh Gandhi shares a few words of wisdom for aspiring entrepreneurs to enter the business world.

A TOKEN OF ENCOURAGEMENT

•

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Trending

IS MAJOR GLOBAL RECESSION KNOCKING THE DOOR?

ecession is scary. People lose jobs, businesses shut down, unemployment increases and living standards fall., But how do we define recession and what are the signs that it is around the corner? In general, a recession is defined as two or more consecutive quarters of negative economic growth or declining GDP (Gross Domestic Product). It is a period when a general decline is observed in national economies around the world. The previous recession was felt between 2007 and 2009. The impact and timing of the recession may vary from country to country. US recession often leads to global recession as it happened in 2009., Now again, as per growing warnings from banks and economists, the US economy could be plunging into a recession next year. However, the major indicators of the economy such as job market and consumer spendings are strong, increasing worries that rising interest rates can result in a sudden retrenchment. increase in overall retail sales from a month earlier was noticed.

Recession risks are high-uncomfortably high- and rising mentioned Mark Zandi who is chief economist at Moody’s Analytics

INTERNATIONAL UNREST:

SIGNS INDICATING RECESSION: SHRINKING GDP:

There is a risk of recession in Europe and China which is casting a shadow on the U.S economy. While strengthening the U.S, dollar makes dollar investment more lucrative it can affect the export negatively, strengthening the chances of a technical recession. The fear of a turbulent economy and change in consumer pandemic spending habits forced big tech companies like Netflix and Peloton to cut their workforce recently. Twitter and Meta are not hiring anymore while Amazon stated that the company is overstaffed after months of rapid hiring. National claims for unemployment insurance increased upto 218,000 however, that is still near historic lows.

In the first quarter of the year from January to March, the GDP shrank by 1.4% if calculated annually which is a bad omen. According to a survey conducted by Bloomberg the estimated growth remained 1.1% over the period. First months of 2022 saw an increasing Omicron wave which quickly eased. However, inflation increased to a year over year pace of 8. 5% in March which is the fastest inflation since 1981.

INFLATION:

Inflation has remained about 40 -year highs and become a central challenge for the economy and US government. The higher prices of day-to-day basic things like food, energy and renting are shrinking American’s budgets, fogging their view of the economy. Fuel prices touched a new high this week. On the other hand, despite all these murky economic conditions, Americans haven’t changed their buying habits and are still spending heartly. No down trend was noticed in the sales of clothing, cars and furniture. In fact, a 0.9% www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

WAR AND COVID LOCKDOWN:

In April, the Chinese economy was grim because of the lockdown in multiple cities. Retail sales were down 11.1% compared to the previous year which was the worst performance since March 2020. Lockdown not only forced the consumer to stay indoors and not shop but also had a negative impact on employment. Russia and Ukraine are major commodity producers and war between them has 74

caused huge disruptions resulting in soaring global prices, particularly that of natural gas and oil. They both contribute upto 30% of the global exports for wheat that led to jump in the food prices as well. The effect is being felt by the global economy which results in slower economic growth and higher inflation.

WHAT BIG FINANCIAL FIRM SAY:

Biggest firms of America are at a crossroad whether these indicators mean recession or it is just a temporary phase of slowdown. Bank of America, Deutsche Bank, Goldman Sachs are among those prominent firms who forecasted the likelihood of a recession within the next 2 years. Goldman Sachs: Goldman is of the opinion that it is very challenging to bring down high inflation and wage growth that will not cause a recession. Goldman Sachs economists said recently that the economy does not need a recession but probably do need growth.

BANK OF AMERICA:

As per Bank America researchers an inflation shock will cause a recession and equity bear market in 2022. “Inflation causes recession, and right now, inflation is out of control.” BofA was heard saying last month. Researchers observed that almost all prior recessions have been preceded by inflation surges, including in the late 1960s, early 1970s, and in 2008. Higher yield and weaker dollar are the last things that contribute to recession.

DEUTSCHE BANK

Deutsche Bank says that a recession is likely to be there by the end of 2023, and predicted that the trigger will be the Fed hiking interest rates Above 5%. “We will get a major recession, but our strongly held view is that the sooner and the more aggressively the Fed acts, the less longer-term damage to the economy there will be.”

The bank said. The economic experts counter that inflation will keep rising because of the hot labour market and supply-chain issues, pushing the Fed to act.

J.P MORGAN:

J. P Morgan declines any near-term recession. Though they forecast continued financial pressure on US households. “The Fed is going to fight inflation this year and likely into next, but there are many other ways for inflation to fall regardless of what happens to interest rates”, said Jacob Manoukian-head of investment strategy for J.P Morgan. As per the Data obtained from J.P Morgan, 20% of people at the bottom have more money in their bank accounts than before the pandemic. Also, in lower paying jobs, the wage increment has been the fastest.

UBS:

The researchers of JP Morgan and UBS are on the same page. Matthew Mish, head of credit strategy at UBS said that the inflation is not going to overwhelm Americans because of the savings they accrued during the pandemic. He also added that the growing bargaining power of service sector workers and increased debt may be temporary. The UBS editorial team stated “Our base case is that inflation is likely to fall from current levels but remain above pre-pandemic ranges. We expect growth in 2022 to be slower than last year, but not tip over into recession.” Amidst ongoing war between Russia and Ukraine and other factors, the global economic situation is unpredictable. The stock markets reflect early warning signals and show the impact of economic downturns. As per Deutsche Bank with the temptation of taking a slow path, people are hoping that the US economy would land softly on a sustainable path, which is not going to happen and their target is to minimise the economic, financial, and societal damage of prolonged inflation by not doing any mistake while doing too much.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

KK CREDIBLE FINANCIAL SERVICES A prestigious trademark in the investment industry Sugandh Bahl|Business Connect The firm assists in wealth creation for the clients, developing proper succession plans, efficient tax planning as well as risk management through asset allocation. Their foremost products are Mutual Funds – SIP and Lumpsum, Fixed deposits, Bonds, PMS, Insurance further categorized as Life, Health, and General. MAN WITH A VISION KK Credible Financial Services was launched by Killol Kiritkumar Karia, holding expertise of more than 15 years in the financial business industry. Preliminarily, he worked with various firms including Indiabulls Securities for 2 years and heading the HDFC Mutual Fund- Saurashtra Region. He has supervised multiple training programs covering enormous topics of Financial markets, especially Financial Planning. He pays a timely visit to MBA colleges to train the young minds. Realizing the huge requirement of credible and right advisory in the society, Killol Karia initiated the firm KK Credible Financial Services.

Killol Kiritkumar Karia | Director

ndia is one of the countries with various industrial spaces growing at a meteoric pace. The financial industry is one of them. In India, the financial industry is one of the most regulated as well as a transparent industry compared to others. Taking a glance at the equity investments and mutual funds, the market is growing by leaps and bounds, although the awareness of credible financial planning runs low in our country. To accomplish a healthy and profitable futuristic view, it is cardinal to have a reliable financial planner.

KK Credible Financial Services is an established and reliable enterprise that has diversified in Portfolio Management Services, Financial Planning, Tax Planning, Retirement Planning, Child Future Planning, Debt-Equity portfolio management, and considerably various other services that are niche in financial investments. The company has profitably procured assets of ₹150 crores in 5 years. Presently, they serve more than 300 families in financial planning. It has been constituted with the idea of imparting credible and right advisory to the people. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

IMPLYING DIVERGENCE IN THE INDUSTRY The company endeavors to inculcate more awareness of Financial planning in India with the right people helping to clinch it. Oftentimes, customers lose their hard-earned money by speculating into equities or haphazardly investing without proper knowledge of the product. The credible advisory was also missing due to which most people end up buying high commission giving products in insurance or New Fund Offers (NFO) in Mutual Funds. Thereby, the team at KK Credible Financial Services believes in exclusively spreading the awareness of Financial and goal-based planning to the investors. The Director, Killol Kiritkumar Karia has empanelled himself with various investment firms and bestowed more than 250 training sessions thereby reaching out to more than 20000 investors. Furthermore, he has been honored as the Guest Lecturer at numerous colleges, edifying them with the significance of saving and investing right from an early age. He intends to enlighten credible advisory in Financial planning and awareness in a true sense. ANALYZING THE EXCLUSIVE SERVICES The pivotal aim of the firm is to maximize wealth creation and practice intensive research to render value

addition to clients. To effectuate this, they retain numerous services for the customers, majorly including : • • • • • •

Balancing risk and returns suitably for each investor by planning investment strategies. Administering a detailed Asset Allocation Plan and opting for purchase averaging. Maintaining and reporting the portfolio quarterly. Advising on tax matters and providing insight by reviewing the portfolio regularly Perpetuating profit booking timely and reinvesting the sale proceeds periodically. Proper guidance on Succession planning as well as Goal- based planning

SECURING AN EDGE OVER OTHERS Communication is cardinal in the company. Everything discussed with clients concerning returns, charges, load structure, etc. is documented with an extraneous copy sent to the client to eliminate disputation and skepticism. This assists to build faith with clients and promotes loyalty and gives us a strong edge over our peers.

MAGNIFICENT PROFESSIONAL DEVELOPMENT OF EMPLOYEES The management team at KK Credible ensures a regularity in systematizing mutual fund conferences, meetings, and personality development sessions organized at Rajkot by entrenched and highly regarded Mutual fund companies. This aids their employees an overall personality development besides business growth. The firm facilitates the employees with enormous Perquisites like a flexible schedule, recognition of hard-work, well-balanced work-life, and transparent communication within the premises. This encourages positivity and healthy work culture, enhancing the professional development of employees. A GLIMPSE OF THE CSR ACTIVITIES The company is associated with the Rotary Club of Rajkot – Greater. Thereby, attending various social service programs like blood donation camps, adoption of schools, and donation of dialysis machines. They have organized more than 20 free of cost training sessions in schools, imparting knowledge to the youth about credible financial planning and its significance.

SYNCHRONISM WITH CONTEMPORARY TECHNOLOGICAL ADVANCEMENTS The team at KK Credible Financial Services facilitates their clients with a veritable paperless system through application and websites where they can prospect their current holdings, analyze the nature of return and profits being generated from their investments and transact independently on app and website. This ensures sustainability with the technological advancements in-tact. INCESSANT R&D TO ENHANCE GROWTH The financial industry is vigorous and the launching of new products is recurrent. Sustained R&D is the key to maintain the forthcoming changes in the market. The team at KK Credible Financial Services ensures to analyze all the launched products and the performance that product imparts. They provide the correct advisory to the clients as per their requirements, delivering maximum output. Furthermore, the firm has tied up with various leading research companies like Morningstar, Prime Investors, and Value research to render pertinent suggestions on the best-suited product for the client. At KK Credible, utmost sensitivity is safeguarded while suggesting the products to clients. Steadfast R&D has helped the company to eliminate the debt crisis led by IL & Fs and Franklin winding off their schemes. Their research is contemplated to be one of the best in the industry. Incessant research and analysis of the economy is their salient differentiating factor among other financial consultants in the market.

ILLUMINATING ACHIEVEMENTS AND ACCOLADES The company has acquainted prodigious awards for their persistent hard work. Some of them are cataloged below : • • • •

Most Emerging Advisor for the year 2017-2018 by Wealth Forum in association with SBI Mutual Funds. The Director of KK Credible Financial Services, Killol Kiritkumar Karia is a part of the Elite Black Club at the HDFC Mutual Fund for the last four consecutive years. (Elite Black Club is the topmost club based on business generated every year) He is also a part of the Chairman Circle for ICICI Mutual funds for three years. Gold club member of Birla Mutual Funds for four years.

ENLIGHTEN THE FUTURE ENDEAVORS The company strives to become an outright financial service provider, delivering Investment solutions and Debt solutions. Presently, the firm manages assets worth 150 crores. They aspire to touch the milestone of acquiring assets under management of 500 crores by the year 2025 and 1000 crores by 2030. The team is working with tenacity and utmost sincerity to achieve the set grail. A TOKEN OF ADVICE FOR POTENTIAL ENTREPRENEURS Meticulous and perpetual communication with stakeholders and customers is a vital key to the growth and expansion of any firm. At, KK Credible, it is taken well care of to maintain customer satisfaction and loyalty. Young and aspiring entrepreneurs should ensure to prioritize client exigency and word of honor while proposing them a rigorous policy, culminating in a profitable investment. 79

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Orange Retail Finance India (ORFIL)

A Credible Partner to Rely on for Growth and Success Dr. Amit Mishra|Business Connect

Ebenezer Daniel G Founder, MD & CEO

Today, NBFC sector plays an extremely crucial role in the development of the country’s core infrastructure. By offering quicker funds and credit to the Indian trade and commerce industry, these entities are enabling the nation-wide growth. Furthermore, small businesses, start-ups, and MSMEs/SSIs are largely dependent on funds offered by NBFCs as the availability of credit is a lot faster. As these small businesses expand their operations, their need for skilled and unskilled labor goes up to fulfill the increase in operations. Thus, indirectly, each new NBFC registration creates more job opportunities at the macro-economic level. Hence, recognizing the role of some reliable service providers in this industry, in our latest edition, we have spotlighted the success story of Orange Retail Finance India Private Limited (ORFIL). For this, we sat down for a virtual meet with its Managing Director and CEO –Mr. Ebenezer Daniel G. Here, we conversed about multiple aspects of this business venture and its outof-the-box implementations in the respective space that concluded in the formation of this elegant read. COMPANY PROFILE An endeavour to provide affordable mobility and livelihood solutions to rural as well as semi-urban markets, ORFIL began its journey as an NBFC in the year 2014. With its personalized solutions, quick loan processing and steadfast digital network, it strives to empower the population of the country in line with fulfilling their aspirations. Their primary products include — Two-wheeler loans, swift cash loans, and Loans Against Property.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

techniques for swift disbursement and lesser documentation for the lending process. Indeed, it has relieved the tedious lending process for the organisation as well as the customers.

On that note, tech advances have also proved to be quite handy for their agile and effortless business processes. They have adapted the latest technology for being proactive in functioning. End to end automated Digital Lending Platform via Orange Digi Wheels & Orange Finmobi which will deliver Two Wheelers to the customer residence, Better Online Visibility, The “IT” Factor, Cloud Collaboration, Mobile Payments, Smart Devices, Cyber Security, Social Media App, Convergence of SMAC, Digital First, Mobile First Approach are some key elements of ORFIL tech inclusiveness.

THE COMPETITIVE EDGE ORFIL was established on the firm principles to ensure transparency in their business operations. Economical prices, focussed approach, differentiation at the strategy level, identity as the digital-first, etc. are some aspects that offer them a leading edge in the market. From marketing client’s individuality to addressing the ‘battlefield’ challenges, they have strained every nerve to create a niche for themselves. Moreover, their intense focus on the client organisation’s core values, strength, industry insights and quality services have made them attain the trust of their targeted audience in no time. Addressing their quality-oriented facet, Ebenezer Daniel conveys that with two decades of deep domain expertise, end-to-end digital approach and a steadfast presence over 10,000+ villages, the company has managed to gain the repute of a ‘go-to’ brand for every household. And in this same direction, the brand aspires to utilize every bit of its strength to capitalize the business opportunities in favour of the budding entrepreneurs or end- consumers. ABOUT THE MARKETING STRATEGIES In the present times, marketing products and services has become imperative for the success of the business. ORFIL has also built a unique marketing strategy that harnesses the power of Website designing, Management, SEO optimisation, Offline Integration, Social Media Planning, Conversion Analysis, Optimization Process and Traffic Building tactics and much more. IMPACT OF R&D AND TECH- INCLUSION For any business, R&D proves to be a valuable tool for growth and improvement. ORFIL has also been benefitted from the offerings that made it grow effectively on the digital front. The RND process has enabled them to become innovative while utilizing the modern

ADDRESSING THE UNFORESEEN CRISIS Owing to the global pandemic, the business world has witnessed major setbacks. As the world is navigating through a huge financial turn-around, many companies have managed to develop a new world economy that has evolved in the form of latest financial models. Though the unfortunate global crisis stimulated huge losses to lives and economy, digital financing, banking and digital marketing witnessed major boost in their businesses. The luminary says that the Covid-19 pandemic taught the businesses the significance of going digital, and a learn to be reckoned forever! THE WORK CULTURES Employees are the precious asset, ORFIL avidly resonates with this notion. For keeping the morale high of its workforce, the company relies on consistent evaluation of the out performers and ensures to recognise as well as reward the talent. Internal growth opportunities are also a key aspect of ORFIL’s culture. The CEO revealed, “We are offering various schemes, promotional activities and incentives that help us motivate the employees and keep their enthusiasm awake.” CROSSING THE MILESTONES WITH BRIGHTER PROSPECTS The business journey for ORFIL thus far has been quite phenomenal as it has carved a considerable brand identity for itself with sheer commitment and hard work of its workforce. With just 1 Branch in 2014, ORFIL now has over 100+ branches across South India. Much more to come as they move forward. When questioned about the future endeavours, Ebenezer Daniel replied that they have envisioned expanding the market reach of the brand while developing the appropriate management band width for digital transformation and investor relationships. THE PARTING WORDS BY THE LEADER

“Take more risk in your endeavour, do not compromise in your ideas. Be passionate in your vision. Traditionally Digital & Unstoppable Indeed”

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Tourism

TOP 10

Beaches in India

ndia’s best beaches are also some of the most beautiful beaches of the world. They offer everything from solitude to parties. The country is largely encircled by water but the best beaches can be found on the west coast, where Goa is the most wellknown beach destination in the nation. But there are also many other beaches to consider, particularly if one wants to avoid the crowds. Here, it will be good to know that eight Indian beaches received Blue Flag certification in October 2020 from the Danish Foundation for Environmental Education. Beaches that are well-maintained, clean, and friendly to the environment are awarded the Blue Flag certification. Here, we have mentioned the top 10 beaches of India that are well-maintained, clean and offer a typical beach experience to every visitor. In India, many beaches with white and golden sands and turquoise waters are ideal for tropical bliss. Check out this list of top 10 beaches in India.

•

Varkala Beach

to “The Lord of the Cow.” Many ancient temples in Gokarna are run by priests who are descendants of Shiva such as Mahabaleshwara Temple, Siddhanthakala Temple, and Ganapathideva Temple. A visit to Gokarna is believed to grant liberation and purification from every sin.

• Varkala is the first in this list. Varkala beach is located in the Thiruvananthapuram district of Kerala. It’s one of the most visited beaches of India. A temple, Krishnaswamy Temple, is located at Varkala just above sea level on a cliff top. Furthermore, the area is renowned for its breathtaking scenery. Varkala beach, about an hour from Kerala’s capital, offers a more tranquil alternative to the now-commercialized Kovalam. Varkala is breathtakingly beautiful and will leave you speechless. Varkala Beach offers breath-taking views of the Arabian Sea and an endless paved stretch of cliff dotted with shacks on one side. Since yoga and Ayurveda are very popular in this area, this beach has the ideal atmosphere for relaxation and rejuvenation.

•

Palolem is one of the most beautiful beaches in the list of top 10 best beaches in India, and it is located about 25 kilometers from the popular tourist destination of “Margao” in South Goa, near Chaudi. This beach comes alive after sunset due to the trendy bars and restaurants open on the beach. The waters are calm and clear enough for swimming, even during sunrise or sunset. This beach is popular among young tourists and foreigners who come here for yoga retreats and meditation. Palolem Beach offers fine golden sand that sweeps down to a calm shoreline suitable for swimming at low tide. This beach is sheltered by headlands on either side, making it safe for bathing even at night.

Gokarna Beach

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Located in Karnataka, Gokarna beach is a small village on the coast of Karnataka. Many tourists visit this beach for its spiritual value; it’s one of the most sacred places for Hindus. The temple of Gokarneshwara is situated in the center of the holy city. The town’s name came from this temple and translates www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Palolem Beach

Agonda Beach

Agonda is one of the most beautiful beaches in India. It is located in Goa, India, on the northern tip of the Pilar de Agonda. The main attraction of this beach is sanctity. According to Hindu mythology, it was here that Lord Shiva’s wife Parvati worshipped Vishnu before birth. Many temples, old Hindu homes, and palaces dot this stretch, each with its legends about its origins. The main attraction here is the base camp for trekkers across India who come to Agonda for trekking during the monsoon season.

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Mamallapuram Beach

Mamallapuram is located in Tamil Nadu and is one of the most famous beaches in top sea beaches in India. This beach can be found on the Coromandel Coast, and it has a historical background and is an important tourist destination. The main attraction of this beach is the Shore Temple. This beach is one of the best places in India to learn surfing and has a thriving surfing and backpacking scene. This location has an old-world charm thanks to the UNESCO World Heritage group of monuments on the beach and the nearby stone carving industry.

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Havelock, Andaman

Anjuna Beach

Anjuna Beach is located north of Saligao, the popular fishing village in the South Goa district. The beach is a favorite weekend getaway for many people from the city. It is famous for its relaxed atmosphere and a hangout spot for bikers, hippies, and several other backpackers. A few storied beachside shacks are still known for their wild parties. This place hosts trance parties on New Year’s Eve and the weekends in Vagator, not far from Hill Top. There are many guest houses and backpacker hostels near this beach where you can reserve a bed or room for a very low cost and have the opportunity to interact with other travelers.

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Arambol Beach

Arambol Beach is located in North Goa; it lies on the Arabian Sea coastline and is a beach part of the Mandovi estuary. So, Arambol also comes in the top 10 sea beach in India. This place is popular for its natural beauty, serene surroundings, and pristine beaches. From a sleepy fishing village, Arambol Beach has become one of Goa’s most popular beaches. It has a traveler vibe with beach jam sessions and lives music performances. Visitors can partake in various alternative therapies, including yoga, tai chi, meditation, and reiki. From Arambol, walking south to the more sedate Mandrem Beach is simple.

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the area is not well known to tourists. There are numerous basic homestays for guests right on the beach. You can better understand the vibe of this beach by cycling and strolling around it. Take in the night views of the water at sunset during summer evenings.

There is calmness in the air, sparkling white sand, turquoise water, vibrant coral reefs, and clear waters. Your ideal beach vacation for the New Year is prepared when you add activities like scuba diving, snorkelling, trekking, riding elephants, and much more. A relaxing and incredibly rejuvenating vacation awaits you in Havelock, Andaman, where joy comes from being at one with nature. The best beaches for swimming in the warm water and participating in water sports are Radhanagar and Elephant.

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Pondicherry Beach

Tarkarli Beach

Tarkarli Beach in South Maharashtra is the place for you if you’re on a tight budget and want to dive into the ocean. One of India’s best coral reefs can be found at this beach. One of the most isolated beaches on the west coast is located here because

Pondicherry, or Puducherry, known as India’s French connection, is one of the most well-known locations in the country for meditation and relaxation. The former French colony is undoubtedly a unique destination because it has preserved French culture and architecture. A well-kept waterfront just about completes the picture of the top beaches in india during vacation. It is well-known for the Sri Aurobindo Ashram near Auroville, where tens of thousands gather to find tranquillity. Beach camping, sunbathing, canoeing, kayaking, and backwater sailing are some of the beach activities available in Pondicherry.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Symbiosis School of Banking and Finance

AN INFLUENTIAL NAME IN THE EDUCATION SECTOR OF BANKING AND FINANCE

Avishek Singh|Business Connect

cope in the Banking and Finance Industry is behemoth; number of opportunities are emerging in the arena. At present times, individuals don’t want to miss out on a single chance to work for the sector. But not everybody is skilled or capable of filling the banking, financial services and insurance positions. Honing the skills of youngsters by rendering an excellent education in the respective realm, Symbiosis School of Banking and Finance, Pune has carved a colossal niche. Dr. Manisha Ketkar, the connoisseur, is the Director and Professor of SSBF. Symbiosis School of Banking and Finance (SSBF) is an integral part of Symbiosis International – a deemed University, Pune. SSBFl offers full time and two year residential MBA program in Banking and Finance. The purpose of education here is to prepare students and make them industryready-professionals to pursue a career in Banking, Financial Services and Insurance (BFSI) sector. SSBF has always kept it self abreast of the latest changes in the industry. In order to cater to the requirements of the dynamic BFSI sector, SSBF tunes its curriculum by soliciting inputs from the Industry stalwarts. Hence, it is not surprising that SSBF has eminent and experienced people from the industry in the advisory board and alumni who provide inputs to keep their curriculum relevant and updated as per the demands of the industry.

DR. MANISHA KETKAR

Director & Professor of SSBF

THE CURRICULUM The curriculum starts with the basics of management, finance and banking and over the course of two years, students get exposure to more complex and relevant subjects like Credit management, Financial Risk Management, Fixed Income Markets, Micro Finance and development Banking. Foreseeing the huge requirement of talent in FinTech companies and technological advancements in the sector, SSBF has added a few technology related subjects in the curriculum in order to understand the expectations of the industry. The curriculum has been developed by benchmarking it against National and International Universities/Institutes, offering similar courses. This has made their program comprehensive and well defined, catering to both the National and International needs of the BFSI domain. SSBF’s Corporate Interface Team invites industry experts to deliver guest lectures on varied topics such as Data Analytics, Growth and prospects in the banking industry, Cryptocurrency, Financial Journalism, Budget Analysis etc., which help students to keep themselves updated. An Annual Banking and Finance Conclave popularly called as the Symposium is organized every year on the contemporary/ forthcoming topics and issues enveloping the banking and Finance Industry. This is organized as a series of panel discussions throughout the day where industry experts deliberate and throw light on the challenges and opportunities in the sector.

When SSBF started in the year 2010, Public sector banks used to recruit talent from the private institutes through campus recruitments. With the objective of providing ready to move human resources, SSBF was established to offer an MBA in Banking and Finance. After the year 2013, according to directions of honorable Bombay High Court, SSBF shifted its focus from public sector banks to private sector banks and companies in the BFSI domain. The exponential growth of the banking and financial sector in this competitive era has opened up varied career roles. Starting from the Financial and Business Analytics to Assets Management, today, the students have numerous options to choose from. SSBF regularly revises and updates its curriculum, thereby making it futuristic based on comments from industry experts. Also, their MBA offers in depth knowledge in encompassing the multiple aspects of the Banking, Financial Service and Insurance (BFSI) industry. With a focus on inculcating adaptability in students, SSBF enables students to become lifelong learners. The MBA in Banking and Finance of SSBF is designed with an objective to disseminate the relevant knowledge and provide skills to students so that they can function effectively in the challenging environment of banking, finance and insurance sectors. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

ESSENTIAL TIE UPS The tie ups maintained by SSBF further help in facilitating the academic delivery. They are an educational partner to Bajaj Finserv, as a part of which, they offer a joint certificate program in Banking, Finance and Insurance (CPBFI) for fresh graduates and final year students who are seeking jobs after their graduation. SSBF runs this program along with Bajaj Finserv under the Corporate Social Responsibility (CSR) initiative of Bajaj Finserv. SSBF has developed content for all the modules of this certificate program. SSBF also conducts Training programs to run this certification program in PAN India. SSBF has been developing training and students’ manuals for CPBFI. SSBF has also collaborated with the Tata Institute of Social Sciences (TISS) to develop content for National University Student’s Skill development, a project initiated by TISS to increase the employability of the university students by imparting knowledge and skills. SSBF has signed an MOU with CRIF High Mark for giving a scholarship of Rs. 1,00,000-/- for a needy student based on academic performance and family’s financial condition. The trophy is awarded for the outstanding student every year. MOU is signed with BAIF for the field visit where students interact with the community in the rural areas and understand ongoing projects, facets of micro finance and their business model for livelihood. SSBF has patterned with EduCBA (Online training provider) to provide 700+ online modules in the finance domain to the students to have an edge over other MBA students. SSBF has alsopartnered with the Association of International Wealth Management of India (AIWMI) to offer the prestigious global certification- Certified Credit Research Analyst (CCRA). They encourage students to appear for industry relevant certifications such as CCRA certification, Bloomberg Market Concepts, NISM certifications, etc., which are all embedded in the curriculum. Students also get a firsthand industry experience during two months of mandatory internship. The dissertation is also an essential aspect of the curriculum where students get to research on contemporary issues in the BFSI sector. EXEMPLARY FACULTY Banking and Finance being a specialized domain, so the role of faculty members becomes instrumental for the students’ academic and professional progress. The role of faculty in a class room is more of a facilitator imparting and building the theoretical foundation of the field and stimulating learners to think critically in practice. Faculty at SSBF are UGC qualified and experienced academicians. Most of the faculty members have also served the industry who are committed to excellence in teaching and research. The theoretical knowledge provided by academicians and the practical aspects disseminated by bankers/industry professionals, offers the perfect blend of both these aspects. 87

The faculty members are sound in research and have their researches published in Scopus and ABDC category journals. They regularly present papers at prestigious International and national conferences and have also won a number of awards. The classroom environment is interactive where participative learning permits a free flow of ideas between faculty and students.

ACCOLADES UNDER THE NAME OF SSBF SSBF has achieved many accolades in this journey of imparting knowledge; the list is as follows: • Awarded as ‘ Maharashtra’s Top 20 Educational Institutions-2019’ by The Academic Insights magazine. • Awarded for ‘Excellence in Industry-Academia Interface’ in 7th Higher Education Summit 2019 by Indian Education Network • Ranked in Top 100 B-School Ranking 2018 by Outlook-Drshti in October 2018 • Awarded as ‘Business School of The Year 2018 in the category of Curriculum Revision’ by The Academic Insights magazine. • Awarded as ‘Management Institute of The Year 2018’ by Higher Education Review magazine. • Awarded AAA+ rank in Top Private B School Ranking 2018 - West Zone by the Digital Learning Magazine • ‘Best Institute in Banking and Finance’ by Dewang Mehta National Education Awards on 25th November 2017 • 2nd position all over India in Bloomberg sponsored Trading competitions ‘So You Think You Can Trade’ held from 05th January 2015 to 05th February 2015. Students are getting an appreciation for their knowledge and hard work during summer internship by diverse organizations such as State Bank of India, HDFC Bank, Indian Overseas Bank, Bank of India and Bank of Maharashtra. The projects were undertaken on wealth management, Credit appraisal, Non-performing assets, and Asset Recovery and Loan products. SSBF has an excellent track record with respect to Placements. For last 3 years we have achieved 100% placement for eligible* candidates. (*Eligibility is based on the Attendance norm, No backlog etc.) SSBF Students got placed in JP Morgan Chase, Axis Bank, ICICI Bank, Ujjivan Small Finance Bank, HDFC Bank, Capital First, Federal bank, Care Ratings, etc. with various profiles like Operations, Channel Officer, Credit Officer, Relationship Manager, Analysts, Credit Manager, Credit Underwriter, Product Trainee and Management Trainee etc. SSBF is proud to say that their alumni Mr. Hardik Mehta has joined as a Manager in Reserve Bank of India (RBI). Mr. Bhargav Diwanji has joined as an Associate Vice President- Analytics, Consulting and Strategy at Autoninja. Few students have ventured into entrepreneurship establishing new businesses. Many of their students have achieved laurels in their careers in a short span.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

THE DIGITAL FIFTH

Stimulating the Revolutionary Waves of Digital Transformation in Financial Space Kriti Anand | Business Connect

In line with listing some trusted financial solution providers, these two pages of our exclusive edition are entirely dedicated to the triumphs of an exceptional digital and fintech consulting venture– The Digital Fifth(TDF). Backed with the future- ready dexterity and a zealous drive to make a difference as a knowledge partner for Indian Fintech Forum, this firm has facilitated a harmonious union of Finance, Technology and People across the financial landscape. To get enlightened with multi disciplinary aspects of its business portfolio aligned with the amelioration of the fintech ecosystem, our ardent team arranged a virtual meet with the three key luminaries of the firm– Sameer Singh, Shashank Shekhar and R. Shreekant who spotlighted some exemplary business insights.

SAMEER SINGH JAINI CEO & Founder

A CONCISE INTRODUCTION With the fintech space evolving at a rapid pace, The Digital Fifth has come to light as an eminent fintech consulting and advisory firm catering its exclusive solutions to the industrial segments such as Banks, NBFCs, Wealth Management, Mutual Fund, and Insurance. The firm is fixated on ensuring constructive business opportunities to enterprises alongside the building and rendering smart solutions to financial institutions and fintech start-ups. “We help our clients to seek and implement appropriate alliances, product roadmap and customer base. Our committed services have made us the unwavering go-to solutions finders for major BFSI organisations as well as an arising game-changer,” asserts the ‘trio’. Ever since its outset in 2017, The Digital Fifth’s convergence on digital transformation, strategic partnerships among the budding ventures and banks and fintech training has allowed it to break the boundaries to develop some inimitable breakthroughs to empower the businesses. If the prime objectives of this venture are taken into consideration, then transforming the cash flows, business and ecosystem impact, creation of considerable value and eventually relishing its client’s resounding success, are its foremost priority. And when it comes to proving its knack, then business strategy for Banks, FIs and Fintechs, Business & Technology advisory, Digital Program Management, Open Banking & Innovation, Market insights and reports, robust industry connections, and cybersecurity are the targeted areas of TDF’s profound expertise.

SREEKANT RUDRABHATLA Head of Sales & Partnerships www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

Undeniably, all the three key luminaries are well-connected with the Indian Start-up landscape, Indian financial services and partnership requirements of the businesses across the globe, giving them a leading edge with their unparalleled services as one of the leading fintech consulting company. 88

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Fintech Training – ‘Providing subject matter expertise for seamless execution and implementation of strategies’ – Where they train the candidates in BFSI Segment for various aspects such –Open banking, Digital Lending, Digital Banking, Digital Payments and Cybersecurity with customised masterclasses and sessions for B2B as well as B2C sector. Recruitment– Where they handle the recruitment process on behalf of their clients and assure them with candidates consisting of great calibre and insightful industry fathom.

The Digital Fifth takes immense delight in the adeptness of its teams of all these service verticals where they swiftly identify clients ‘pain points and market pulse to eventually deliver troubleshooting solutions. Their core competency in optimizing tedious and cumber some processes allows seamless workflows to accelerate growth quotient to keep the venture current and overall profit in fine fettle. UNWAVERING EVEN AMID THE ‘CRISIS LIKE NO OTHER’ When most of the businesses were taken aback by the unprecedented crisis caused by the COVID-19 pandemic, The Digital Fifth promptly shielded itself by safeguarding stiffness in its business model. To make its operations unfaltering, all of the training programs were digitized where they were delivered via virtual mode.

SHASHANK SHEKHAR Head of Consulting

Additionally, with people being locked indoors, the need for digital solutions peaked tremendously, stimulating more and more masses to reach out to The Digital Fifth for digitized solutions. People from national as well as international lands like the US, the Middle East, and Southeast Asia approached them for efficacious solutions that helped the company adeptly survive the adverse effects of the pandemic across the global economy. “Owing to our proactive approach, agile working, swift turn around, we navigated the unfavourable waves induced by the crisis like no other in the history of mankind!,” conveyed the dignitaries.

AN ESTABLISHED VISION AND THE STAUNCH MISSION The vision propelled by the triad of visionaries was majorly focussed on creating maximum impact with minimum disruption. Thus far, driven by this vision, TDF has propelled several businesses through exponential growth. The exclusive mission for the firm was actuated by the key officials’ decades of industrial experience in designing effective and bespoke solutions for leading banks with national as well as international repute. They are keenly aligned with completely digitalizing the fintech ecosystem by eradicating the conventional business methodologies and bridging the fintech startups and firms with reputed industry giants. Moreover, the company provides apposite acuity and tools to empower the organisations aspiring for thelaunch or transformation in the fintech space.

MEET THE QUIXOTIC BRAINS BEHIND TDF • Sameer Singh is the leading figure at TDF and laid the foundation stone for the company driven by his years of extensive experience in the fintech space. The recipient of Best CIO and Innovation Awards, Sameer has been at the decisionmaking table for Kotak Mahindra Bank and BharityaMahila Bank alongside leading the digital initiatives for Kotak Mahendra Bank and Citibank. Also, he has implemented fore and aft banking initiatives ‘Finacle’ across the USA and Europe. Owing to his iconic administration, The Digital Fifth has been recognised under Fintech Asia 100 adjudged by Nextmoney. org. • The Head of Consulting, Shashank Shekhar, is a veteran in the design and execution of digital strategy and transformation processes. His over 17+ years of enriched experience in leading technology set-ups and security & government functions has conferred him with the IDC Award for Omni Channel Framework. Owing to his keen interest in banking technologies, Shashank is significantly contributing to the thumping success of TDF. • R Shreekant being the Head of Sales & Partnerships is driving revenue via regular inventory sales and sponsor sales for megaevents and has organized well-acclaimed events like Filmfare Awards, Femina Awards in southern India, and considerably more. His portfolio is filled with years of experience in managing various processes for his esteemed clientele hailing from automobile, consumer durables, lifestyle products and BFSI sectors. Shreekant is also a seasoned professional in adeptly managing the P&L for channels and digital agencies. With his more than 2 decades of extensive experience in Media Sales, he is efficiently managing the sales & partnership operations at TDF.

THE CORE SERVICE OFFERINGS The pace at which points of contact and tech-advances are making leaps is quite intriguing and this is where TDF pitches in to be substantive in the most sophisticated manner. The gamut of their proposed services can help one to stay ahead of the curve in terms of business, digitization and much more. The Digital Fifth has a broad spectrum of services that have been enlisted below with a brief overview– • Consulting– ‘Simplifying customer journey’– Where they assist the clients to shape a unique digital strategy as well as fintech strategy. On one hand, the digital facet of this service vertical includes Digital Strategy & Transformation, Drive Digital Initiatives, Open Banking Strategy &Rollout, Program Management, Setting up innovative framework, and Digital Maturity Model & Assessment. On the other hand, Fintech Strategy is all about setting up Fintech Banks, Digital Banks & NBFCs. • Partnerships–’Finding suitable partners for businesses’– Where they reach out to market strategy & ecosystem access for partners. 89

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

ENTERS WEARABLE SEGMENT, LAUNCHES TWO NEW SMARTWATCHES IN INDIA Bolt Audio, a homegrown consumer tech company has finally entered the wearables segment and launched two new smartwatches in the Indian market - the Bolt Drift and the Bolt Cosmic priced at INR 1,999 and INR 1,499 respectively. The smartwatch is available on Flipkart and select retail stores and their e-commerce portals in the country. “After successfully offering the best-in-class audio products for five years in India, Boult Audio has expanded its product line in the wristwatch sector,” stated Varun Gupta, co-founder, and CEO of Boult Audio. He added that “We are working hard to launch some more innovative smartwatches this fiscal. We are also coming up with some policies to create superior value for our consumers.” “Boult Cosmic will be available for sale from July 9 onwards. Boult Audio has always put its impetus on developing an ecosystem for products that help millennials to stay fit and healthy. We are very excited to introduce two new smartwatches. Our goal is to make wearable technology safe, enriching, and enjoyable in everyday life,” he said.

PRICE

The Boult Drift and Bould Cosmic smartwatches will be available at an introductory price of INR 1,999 and INR 1,499 respectively. On Flipkart, buyers will be able to purchase smartwatches. While Boult Cosmic is supplied in Rose Gold, Blue, and Black tones, Boult Drift is offered in eye-catching colors like Blue, Black, and Gray. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

COMPARE BOULT DRIFT VS BOULT COSMIC

Specs & Features

Boult Drift

Boult Cosmic

Display Size

1.69 inches

Heart rate Monitor

Yes

Spo2 Monitor

Yes

Sports Mode

Water Rating

IP68

IP67

Watch Faces

140+

100

Battery Life

Up to 10 Days

Up to 7 Days

Special Feature

Fast Charging

500 Nits Brightness

BOULT DRIFT, BOULT COSMIC: SPECIFICATIONS

The Boult Drift Smartwatch sports a 1.69-inch TFT display with a resolution of 240x280 pixels, 218ppi pixel density, and a maximum brightness of 500 nits. The watch includes 150+ watch faces and 60 pre-programmed sports modes. You can check your heart rate at any time thanks to the device’s 24/7 heart rate monitoring, heart rate monitor, and sleep tracker functions. Additionally, it has a dual module, an automatic sleep monitor, an integrated microphone, and a speaker.

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

V- Financial Services(VFS)

A one-stop platform for cost efficient and unbiased financial services guidance VANDANA UPADHYAY | Founder & CEO

Sanjay Maurya | Business Connect

Financial service sector is crucial for any economy, ensuring earnings and equity market capitalisation. A variety of companies are dominating this segment with their exemplary services offered to the customers or businesses for the financial goods. But, the delicacy of this sector is the need of a reliable financial advisor who can manage clients’ assets and offer them with enlightening advises for better outcomes. In this direction, Business Connect Magazine has featured some outstanding financial service providers in its brand-new edition to recognise the contribution of a few credible companies. Here, we are featuring the success story of V-Financial Services that is being led to greater heights, under the stewardship of its CEO– Vandana Upadhyay.

COMPANY OVERVIEW A wealth advisory firm, V-Financial Services, has been rendering innovative and unequalled financial solutions to corporates as well as individuals. As a group of qualified financial professionals with an enriched experience of 18+ years in the BFSI sector, VFS has emerged as a female-led company with PAN India and cosmopolitan presence. With an exclusive vision to bridge the gap between investor’s behaviour and investing, they ensure the adoption of an investment process that is robust against behavioural decision-making errors. “The idea behind forming this group was to bridge the gap between client’s wealth planning, its execution and financial goal achievement,” states Vandana. Most of the financial intermediaries are mainly converged on pushing particular products to customer and post-product sales, the customer is left on his own to commence the financial journey alone. This is where V-Financial pitches in to make a difference. With the novice concept to deal in Wealth Advisory by providing appropriate support to the clients, VFS started its journey to emphasize consolidating and reviewing all investment in a single-window Platform. Keeping it as the primary focus, the company has designed

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

an investment plan that could meet the client’s requirements effortlessly. Team VFS is always dedicated to ensuring the trust of the customers in their services. Their offered solutions are not just limited to provide a solution to the client but also, to guide their path to any issue related to financials aspects.

“Our USP is Right Advise, Trust and Relationship followed by robust service support to the customers, “

IDEA BEHIND INCEPTION

When asked about the motivation that led to the inception of the venture, Vandana states that VFS was conceptualized to provide goal-oriented Financial planning and unique solutions to HNI & UHNI segment, to act in the best interest of the clients. Through its vast experience, VFS learnt that the concept of a “consolidated financial plan across all asset class” is less adopted by various financial intermediaries due to lack of expertise in all asset class and technology available for the same. Thereby, VFS considered this gap as an opportunity to be substantive to the industry. In this direction, Vandana asserts, “The client would be better motivated to opt for your service as a planner if you take care of his long- term financial goals rather than focusing on short-sighted benefits.”

STANDING APART FROM THE REST

VFS prioritizes clients’ requirements at any cost. It ensures service beyond product domain such as Equity, MF, Insurance, Lending, Health, PMS, AIF, etc., for hassle-free life by advising the customers on various parameters –Taxation, Estate Planning , Will deed etc. of their financial journey and work closely with customers to help them reach their aspired financial goals. Addressing several pain points for the customers in financial space, they are helping the customers to set their measurable financials and investments periodically while re-evaluating financial plans to maintain continuity. From managing their existing portfolio to ensure a comprehensive 360° reports and overall net worth of the customers across all asset class, their ceaseless product & service support across all asset class under a single window gives them a leading edge. “Our absolutely dedicated digital and hassle-free services by our adept female brigades take care of all service related issues,” continues the CEO. Team VFS also considers the role of R&D quite instrumental in the growth of the company. To them, R&D is a dynamic segment that allows them to be abreast of new product variation and any change in the regulatory framework for right guidance to the clientele.

RELIANCE IN THE TECH-TOOLS

Team VFS reckons that asset allocation is crucial to portfolio return and without the help of technology, its management is

unimaginable. Since from its inception, the company has leaned over technology for seamless and uninterrupted services to the customers that allowed them to help their clients amidst the glooms and dooms of the nationwide lockdown too. The firm is leveraging technology in every aspect of the work. Be it E-on boarding of new customers or new application processing, tech-tools help them perform every business operation effectively. A few of their in -house developed software help them to manage client’s reports. Moreover, they lean on the utilization of the software such as BSE-Star MF, 3 tense and other digital platforms for their transaction, reports and services.

CULTURE THAT THRIVES ‘CUSTOMER-FIRST’ MOTTO

At V-Financial Services, the employees are polite and humble to help the clients in best possible manner. The company thrives a culture of fun where the team enhances its productivity by being in a pleasant environment where light instrumentals are played during working hours. The management ensures more collaborative approach where each associated individual is treated as a part of Business/Family rather than employees. Here, an open culture is nurtured where timely feedback is shared and employee engagement is promoted in every possible manner. “Our team always thrives on improving area of development to have seamless customer experience. The performance of the team is evaluated annually on 4 scale rating and they are rewarded with Long-Term Service Award along with Respect and Dignity,” cites Vandana. Even amidst the prevailing crisis of the COVID-19 pandemic, VFS stood beside its employees and no deductions on the pay checks were made by the management. Contrary to the scenario, they offered the employees with appropriate increment too. In this respect, they feel their digitalized workflow played a significant role to serve its clients even amidst the unprecedented times.

GLIMPSES OF THE MILESTONES AND ACHIEVEMENTS

Recently, they have started operating in HNI & UHNI segment in Mumbai. Soon, they aspire to expand their service verticals to semi-urban areas of north and eastern parts of India. Furthermore, they believe their collaboration with some major financial brands such as Aditya Birla Capital, HDFC life, Motilal Oswal, SBI Mutual Funds,HDFC Ltd,Bajaj Finance ,Bajaj Life, etc., is their foremost achievement as their esteemed clientele testifies their excellence.

WORDS TO BE CONVEYED

As a concluding note, Vandana conveys some parting words for our readers,”India is a country of savers and domestic saving is very high percentage of GDP. We should try and make our nation not only good saver but also become good investors by propagating concept of right asset allocation to the length and breadth of the country.”

www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

TENCENT BUYS STAKE WORTH $264 MILLION IN FLIPKART Chinese technology conglomerate Tencent has bought stake worth $264 million (about INR 2,060 crore) in Flipkart through its European subsidiary from its co-founder Binny Bansal, according to reports. Bansal holds around 1.84 per cent stake in Flipkart after selling his stake to Tencent Cloud Europe BV. According to report, the deal was finalised on October 26, 2021, and the information was shared with government officials at the start of the current fiscal year.

Tencent

Flipkart

Multinational conglomerate company

Online retail company

Founded: 11 November 1998, Cayman Islands

Founded: October 2007, Bengaluru

Headquarters: Shenzhen, China

CEO: Kalyan Krishnamurthy (Jan 2017–)

Revenue: 48,206.4 crores CNY (2020)

Headquarters: Bengaluru

Net income: 22,781 crores CNY (US$35.32 billion, 2021)

Subsidiaries: Myntra, PhonePe, Ekart, Mallers, Inc., MORE

Number of employees: 1,12,771 (2021)

Parent organization: Walmart

Founders: Ma Huateng, daniel, Zhang Zhidong, Chen Yidan, kney

Founders: Binny Bansal, Sachin Bansal

Following the transaction, the Tencent arm owns a 0.72 percent stake in Flipkart, which is valued at around $264 million, according to a final valuation of $37.6 billion reported by the e-commerce firm in July 2021. Flipkart had raised $3.6 billion at the time in an investment round headed by GIC, CPP Investments, SoftBank Vision Fund 2, and Walmart. DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, Tencent, Willoughby Capital, Antara Capital, Franklin Templeton, and Tiger Global were among the many investors who took part in the round. Tencent Holdings Ltd., often known as Tencent, has a net worth of $449.95 billion as of June 3, 2022. Tencent Holdings Limited is a company that provides Internet services. Tencent offers Internet, mobile, and telecom services, as well as online advertising. Reports said that the transaction took place in Singapore, but Flipkart informed the Indian authorities about it as a responsible entity and that the transaction does not fall under the purview of ‘Press Note 3’ which calls for scrutiny of investment that any Indian company gets from countries sharing land border with India. While Tencent has invested in many enterprises in India, the government has banned various gaming apps, including PUBG Mobile and PUBG Mobile Lite, which were developed by Tencent Group. According to the PTI report, e-mail query sent to Flipkart and Bansal did not elicit any reply.

TURKEY OFFICIALLY CHANGES NAME AT UN TO ‘TURKIYE’; ALL DETAILS HERE Turkey has told the United Nations that it now wants to be known as “Turkiye” in all languages at the behest of its president. “The change is immediate,” UN spokesman Stephane Dujarric told AFP via email. Stephane Dujarric noted that Ankara’s official letter requesting the change had been received at the UN’s New York headquarters on 1st June. Turkish Foreign Minister Mevlut Kavasoglu tweeted a photo of himself signing a letter addressed to UN Secretary-General Antonio Guterres a day earlier.

Turkiye

Country in the Middle East • Speaker: Mustafa Şentop Trending • Capital: Ankara • Dialing code: +90 • Currency: Turkish lira • President: Recep Tayyip Erdoğan www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

“We are registering our country’s name in foreign languages at the UN as ‘Turkiye,’” he wrote, with an umlaut above the “u.” UN spokesman Stephane Dujarric told CNN on 2nd June that the United Nations had accepted the change, and it took effect as soon as the request was received and made sure the document was valid. The government of President Recep Tayyip Erdogan has pushed for the internationally recognised name Turkey to be changed to “Türkiye” (tur-key-YAY), as spelled and pronounced in Turkish. The country called itself Türkiye in 1923 after its declaration of independence. Erdogan ordered the use of “Türkiye” to better represent Turkish culture and values in December, as well as the use of “Made in Türkiye” instead of “Made in Turkey” on exported goods. Country ministries also began using Türkiye in official documents. The administration also created a promotional video earlier this year as part of its efforts to change its English name. Tourists from all around the world saying “Hello Türkiye” at well-known locations in the video. He said the change would end the process of “raising the brand value of our country”, an initiative launched by Turkish President Recep Tayyip Erdogan, who has led the country for nearly two decades. The update would also help distinguish the country from the bird of the same name in English.

These Countries Have Changed Their Nam • • • • • • • • • • •

Persia to Iran Siam To Thailand Democratic Kampuchea To Cambodia Burma To Myanmar Holland To Netherlands Irish Free State to Ireland Ceylon To Sri Lanka The Republic of Macedonia To the Republic of North Macedonia Swaziland To Eswatini Rhodesia To Zimbabwe Czech Republic to Czechia

NHAI Built 75 km long road in just 105 hours, Record got in Guinness Book In a world where speed records are constantly being broken, India has now added to its list of accomplishments with the creation of a 75 km long road in 105 hours – setting a new Guinness World Record! The NHAI (National Highways Authority of India) created the record-breaking road by using AI and sensors to map and monitor the construction site. On Monday, the National Highways Authority of India (NHAI) announced that it had completed the construction of a 75 km long road in just 105 hours - a new world record! The project involved the construction of a new bypass to connect Amravati and Akola districts.

NHAI completes 75 km long road in 105 hours which is Record Breaking

The National Highways Authority of India (NHAI) has completed a 75 km long road in 105 hours, breaking the record set by the organisation in 2022. The road construction project started at 7:27 am on June 3, 2022 and was completed by 5 pm on June 7. The construction team used bulldozers, earth moving machines, and other heavy equipment to build the road. This is the first time that NHAI has broken the record for the fastest road construction. The previous record was held by Japan’s Nagoya Municipal Transportation Bureau, which completed a 66 km road in 110 hours. NHAI Managing Director E Sreedharan said that this is an important milestone for the organisation, as it demonstrates its capabilities to undertake high-impact projects quickly and efficiently.

The project involved difficult terrain and poor weather conditions

The National Highways Authority of India (NHAI) has announced that it has completed the construction of a record-breaking km long road in just hours. The project involved difficult terrain and poor weather conditions, but NHAI was able to complete the work successfully. The new road connects Amravati and Akola districts and is the longest road in India that is built on a hilly terrain. The construction of this road required the use of heavy machinery and special vehicles that were able to navigate through the difficult terrain. This impressive feat marks an important milestone for NHAI, as it demonstrates its ability to overcome difficult conditions and deliver on its promise to improve transportation infrastructure in India. 99

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The road will help boost development in rural areas

also expected to improve traffic flow on the existing highway and reduce congestion. The flyover also has an aesthetic appeal, as it blends seamlessly into the natural environment. This is yet another testament to NHAI’s capability to quickly complete high-impact projects that have a positive impact on society.

This new road will help boost development in rural areas. It is made out of concrete and bricks, and has a width of 10 meters. The construction took just four hours, and the road is now open to the public. This new road is a big step forward for the development of rural areas. It will help people move around more easily, and boost economic growth in these areas.

The record has been registered in the Guinness Book of World Records

The road is expected to save about Rs crore every year

The road was made using a special method called “rip and fill”. This technique involves laying down a layer of gravel and then pouring a layer of concrete over it. The completed road is then smoothed out using a machine called a tamping roller.

The National Highways Authority of India (NHAI) has completed the construction of a 75 km long road in just 105 hours. This record-breaking road was built in a village in the state of Maharashtra, and is now part of the Guinness Book.

The National Highways Authority of India (NHAI) has made a 75 km long road in just 105 hours, setting a new record in the Guinness Book of World Records. The road was made from an existing stretch of railway track that was lying unused in the state of Maharashtra.

The National Highways Authority of India (NHAI) has announced the completion of the record-breaking km long flyover at NH-8 in Devgiri Khunti district. The flyover, which is a part of the new NH-8 extension project, was completed in just hours, as opposed to the normal three days that it takes for a similar project to be completed. This new road will save about Rs crore every year in travel time and fuel costs. It is

This record was achieved thanks to the dedication and hard work of the NHAI team. The project was completed in just six days, which is much faster than usual. This rapid construction process will help to reduce traffic congestion on Indian roads.

IPL Media Rights winners: Viacom18 wins digital while Star bags TV rights

What are the four packages provided for bidding?

• Package A: Indian sub-continent exclusive TV (broadcast) rights. • Package B: Covers digital rights for the Indian sub-continent. • Package C: For 18 selected games in each season for digital space. • Package D: All games will be for combined TV and digital rights for overseas markets. • Jay Shah, Secretary of the Board of Control for Cricket in India (BCCI), announced the winners of the IPL media rights auction, which lasted for three days and garnered a record INR 48,390 crore for five years. Shah stated in a series of tweets that the Indian Premier League (IPL) is currently the world’s second-most valuable sporting league in terms of per-match value. The BCCI Secretary said that STAR INDIA won India TV rights with their bid of INR 23,575 crore, while Viacom18 bagged digital rights with its winning bid of INR 23,758 crore. www.businessconnectindia.in | Vol. 4 | Special Edition July 2022 INDIA

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It’s worth noting that, for the first time, digital media rights have sold for more than TV, indicating the country’s growing interest in internet viewing. “The bid is a direct testimony to the BCCI’s organizational capabilities despite two pandemic years,” he added. Speaking on the advent of digital views, Shah also stated, “India has experienced a digital revolution, and the sector’s potential is limitless. The way cricket is watched has altered as a result of the digital revolution. It has played a significant role in the game’s development and the Digital India ambition.” Viacom 18 also secured rights to parts of the Rest of the World, including Australia, South Africa, and the United Kingdom, while Times Internet won rights to the Middle East and North Africa, as well as the United States. The cash earned by the IPL would be used by the BCCI to “strengthen our domestic cricket structure, starting at the grassroots, to increase infrastructure and spruce up venues across India, and enrich the entire cricket-watching experience,” according to Shah.

PAN Aadhaar linking last date Today: Double penalty from July 1 if avoided

The last date for linking PAN-Aadhaar without paying the double penalty is 30th June 2022 i.e. Today. Those who link Aadhaar PAN by June 30 will have to pay a fine of INR 500. However, if you decide to do it after the date, you will have to pay a double fine of INR 1,000. The Central Board of Direct Taxes, or CBDT, has extended the deadline to link PAN-Aadhaar till March 31, 2023, but such people who are yet to link will have to pay the double fine of INR 1,000 from July 1. By failing to link a PAN with Aadhaar by March 31st, 2022, as required by the recently added Section 234H of the Income Tax Act (via a Finance Bill in March 2021), a penalty of up to INR 1,000 will be imposed; however, such PAN cards will continue to be usable until March 2023, or FY2023-23, to file income tax returns, claiming ITR refunds, and other income tax procedures.

How to link PAN with Aadhaar • • • •

You have to first Login to the official income tax website — www.incometax.gov.in Under the quick links section, select the ‘Link Aadhaar’ option. You will be redirected to a new page Enter your PAN card details, Aadhar card details, mobile number, and name Select ‘I validate my Aadhaar details’ option and choose the ‘Continue’ option.

On your registered mobile number, you will receive a one-time password (OTP). Fill in the blanks on the screen, then click ‘Validate’. After paying the fine, your PAN and Aadhaar will be linked.

How to check PAN-Aadhaar linking status • • • • •

To check PAN-Aadhar linking status you have to log in at the official income tax website - www.incometax.gov.in; Click on ‘Link Aadhaar Status’ in the ‘Quick Links’ option Enter PAN and Aadhaar number Click on ‘View Link Aadhaar Status’ Your PAN-Aadhaar linking status will be displayed.

One can link PAN with Aadhaar online after 4-5 days of paying the late fee. “Fees to be paid by Challan No ITNS 280 with Major head 0021 (Income Tax Other than Companies) & Minor head 500 (Fee),” says the income tax department. 101

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