WayCool Foods Receives US$114K from Dutch Development Bank FMO for Kits

FMO, the Dutch entrepreneurial development bank, has allocated a grant of US$114K to WayCool Foods, for procurement and distribution of dual-purpose PPE kits and enablement of on-site soil testing to farmers. It follows WayCool’s latest Debt Financing round of US$ 5.5 million, that was guaranteed by US International Development Finance Corporation (DFC).

The distribution is being carried out under the Outgrow Programme, the company’s flagship programme for farmers. Some 15,000 small holding farmers across 5 states in India will benefit through this unique initiative. The dual-purpose PPE kits will help protect farmers during the Covid-19 pandemic, and also shield them during agricultural operations such as pesticide spraying. In-situ soil testing will enable farmers to get their soil health measured without having to travel, thus facilitating effective soil management while maintaining social distancing.

Outgrow is the company’s agricultural extension programme that engages with farmers through their entire cultivation cycle, from planning to inputs to harvesting, substantially increasing profitability of the farmer, reducing their risk, and guaranteeing farmers 270 days of steady income by leveraging a host of emerging technologies.

The company has been leading efforts to help the Indian farmer cope with the current crisis, through various channels. Most recently, the company had run a crowd funding campaign for PPE kits through Milaap. It had also driven an awareness campaign showcasing the efforts of the farmer and trucker (the invisible hands in the agricultural supply chain). The FMO grant helps the company build upon this effort.

Sendhil Kumar Natarajan, head, agri initiatives, WayCool Foods, commenting on the initiative said, “Farmers are essential service providers as they feed the nation. They are also very vulnerable during disruptive events such as the ongoing pandemic. Our measures have focussed on enabling the farmers earn their livelihood while reducing the risks they face. The FMO grant will help us in protecting a significantly larger number of farmers and we thank FMO for their timely support.”

FMO’s grant demonstrates their commitment to supporting communities that require India’s food and agriculture distribution sector.

Speaking about the initiative, Jaap Reinking, director, private equity, FMO, said, “We are proud to offer additional support during this period. India has experienced one of the world’s strictest lockdowns. These measures left little recourse for the country’s millions of farmers, particularly those in the poorest provinces, who were unable to get access to essentials and protective equipment. The initiative’s goal is to find affordable and reliable sources of PPE and ensure these are allocated where they are needed most. Additionally, this grant will be used to procure Soil Testing kits for farmers, which will ultimately improve their income and reduce wastage.”

The company procures, processes, and distributes a range of food products including fresh produce, staples, and dairy products, moving over 250 tonne of food every day to 11,000 clients across South India. The company operates a soil-to-sale model, engaging deeply with a base of 40,000 farmers in more than 50 regions across India, while bringing efficiency through its direct supply chain model. The company plans to accelerate profitability and improve on its capital-efficient model by continuing to invest in technology and automation across the value chain.

The company has previously raised three rounds of funding from Lightbox, LGT Lightstone Aspada, FMO, Caspian Impact Investment, and Northern Arc Capital Limited.

Kastle Universal Banking Included in Global Banking Platform Deals Survey by Independent Research Firm

3i Infotech Limited (BSE: 532628, NSE: 3IINFOTECH), a global Information Technology company, committed to accelerating business transformation, has been recognized as a Solid Player and a Base and Regional Player in the combined and new deals categories respectively, for its banking product – Kastle, in the Forrester’s Global Banking Platform Deals Survey 2020. 

Speaking on the recognition, Mr. Padmanabhan Iyer, Managing Director and Global CEO, 3i Infotech said, “3i Infotech is honoured to have Kastle Universal Banking included by a prestigious institution like Forrester. We believe that this recognition reinforces our commitment of delivering next-gen products to our customers across the globe. By constantly upgrading our comprehensive set of IP based software solutions & IT services solutions, we have re-invented ourselves to address the dynamic requirements of BFSI industry.” 

“Kastle Universal Banking Solution is an end-to-end banking solution catering to the entire spectrum of banking across Lending, Islamic Finance, Core Banking, Treasury, Trade Finance, Integrated Risk Management, Digital Banking and Analytics. AMLOCK (Financial Crime Detection and Management Solution) coupled with Kastle Universal Banking Solution is a force multiplier for banks and financial institutions to be digitally equipped and be future-ready to meet their business goals. Multiple combined deals is a testimony to Kastle Innovative Banking Solution by banks and financial institutions across the globe. We are honoured by this recognition by Forrester,” said Krish Narayanaswami, President and Global Banking Head, 3i Infotech. 

Forrester’s Global Banking Platform Deals Survey 2020 is an independent survey conducted annually by Forrester. The research is published to guide decision-makers at financial institutions around the world. Forrester surveyed 35 key banking platform vendors about their 2019 deals and published the results from the survey in their report, The Banking Platform Market Remains Stagnant, Though Smaller Banks Are Turning To Fintechs - Forrester Report Link.

About 3i Infotech 

Headquartered in Mumbai, India, since inception in 1993, the Company has been committed to driving business value across multiple industry verticals and has a strong BFSI presence. The company has over 5500 employees in 31 offices across 12 countries and over 1200+ customers in more than 50 countries across 4 continents. With a comprehensive set of IP based software solutions and a wide range of IT services, 3i Infotech has successfully transformed business operations of customers globally. The Company has a very strong foothold and customer base in geographies like North America, India, Asia Pacific, Middle East and Africa, Kingdom of Saudi Arabia and South Asia.  

Its flagship products include Kastle™ (Universal Banking Solution), AMLOCK™ (Financial Crime Detection and Management Solution), MFund™ Plus (Asset Management Solution), Premia™ Astra (Core Insurance Solution) and Orion™ (Enterprise Resource Planning Solution). 3i Infotech provides IT Services across Mobility, Data Analytics, Block Chain, Cloud Life Cycle Management, Testing Services, Infrastructure Management, Application Development & Maintenance, Professional Services, IT Consulting and BPO. 

Samsung Offers 15% Cashback, Easy EMI Options and Exciting Deals this Ganesh Chaturthi

Festival Offers

* Get Galaxy S20+ worth INR 77,999 with QLED 8K TVs and Note 10 Lite worth INR 37,999 free with SpaceMax Family Hub Refrigerator 

Celebrating the auspicious festival of Ganesh Chaturthi, Samsung India, country’s most trusted consumer electronics brand, today announced exclusive offers for its televisions, refrigerators, smart ovens, washing machines and air conditioners.

These exciting offers, coupled with bundled deals, attractive finance schemes with up to 15% cash back, and easy EMIs of as low as INR 990 will be valid till August 31, 2020.

The unique offers provide assured benefits to consumers purchasing Samsung consumer durable products such as Samsung QLED TVs, 4K UHD TVs, Smart TVs, SpaceMax Family Hub™ Refrigerator, Side-by-Side and Frost Free Refrigerators, FlexWash Washing Machines, AddWash Washing Machines, Fully Automatic Front Load and Top Load Washing Machines, Smart Ovens and WindFree Air Conditioners, among others. Expanding its wide consumer electronics portfolio, Samsung recently launched Soundbars with the unique Q-Symphony feature in select models, to give an immersive sound with the TV.

During the offer period, consumers purchasing Samsung QLED 8K TVs will get a Galaxy S20+ worth INR 77,999. Additionally, consumers will get a 10-year no screen burn-in warranty on panel on select QLED TVs.

Consumers buying Samsung Smart TVs will get a cashback of up to INR 15000 and easy EMIs as low as INR 990 along with the convenience of one EMI off on 43-inch and above models. Delivering on the entertainment front, Samsung TVs come with one month free Zee5 subscription and 30% discount on Zee5 premium packs.

In the refrigerator category, consumers buying Samsung SpaceMax Family Hub™ Refrigerator will get a Galaxy Note10 Lite worth INR 37,999. Additionally, on purchase of Samsung refrigerators and washing machines, consumers can avail up to 15% cashback and easy EMI options as low as INR 990, along with one EMI off on refrigerators above 300L capacity.

While refrigerators will come with 10-year Warranty on the Digital Inverter Compressor, washing machines will come with 12-year Warranty on the motor and 30year Warranty on the complete machine. These offers are applicable on Family Hub, Side-by-Side and Frost-Free refrigerators, and on FlexWash and AddWash Washing Machines as well as Fully Automatic Front Load and Top Load Washing Machines.

Consumers purchasing Samsung Air Conditioners can avail easy EMIs of as low as INR 990. On purchase of Samsung’s Wind-Free™ Air Conditioner that comes with 23,000 micro-holes to gently spread air evenly throughout the room, maintaining a comfortable level of coolness without any draft, consumers will get up to 15% cash back Additionally, benefits such as 5-year condenser and PCB controller warranty, 10-year Warranty on the Digital Inverter Compressor on select air conditioner models along with free installation and free gas recharge will also be offered.

On purchase of select models of convection Smart Ovens, above 28L, consumers will get a free Borosil kit, a 10-year warranty on the ceramic enamel cavity along with 5-year warranty on the magnetron.

Adding to the occasion, Samsung with its My Samsung My EMI offer provides consumers with an option to choose EMIs and down payment as per their budget on select televisions, refrigerators, microwave and washing machines. Consumers can further avail options such as EMIs of up to 36 months and one free EMI on select TV and refrigerator models.

Festive season is the time when consumers upgrade to newer and smarter technologies to reimagine their homes. Being a consumer centric brand, our focus is to deliver unparalleled technology for our consumers. Samsung is committed to deliver the best products and our latest offers come with guaranteed benefits on a wide range of products across price points. With consumers seeking value proposition, we are confident these unique offers will meet their expectations and enrich their lives with meaningful innovation,” said, Raju Pullan, Senior Vice President, Consumer Electronics Business, Samsung India.

Samsung’s Diverse Product Line-up

Samsung QLED Televisions:

Samsung QLED TV breaks new ground for premium TVs and home entertainment, delivering beautiful design that is supported with the most advanced picture quality. Powered by HDR10+ technology that optimizes the TV’s brightness levels and delivers brighter and deeper colors, to deliver the visual experience intended by creators. The technology also features Direct Full Array Elite for enhanced contrast and precise picture quality.

The QLED TV features an Ambient Mode which turns the TV into a piece of art, building on the Ambient Mode’s ability to blend in with the home interior, the TV can be hung on the wall with a No Gap Wall-Mount, intelligently embedded in the back of the TV so that it blends in seamlessly. It also allows the users to take voice control one step further with the new Bixby feature on One Remote Control allowing connections to all connected devices without additional connectors or complicated setups.

4K UHD Televisions

Samsung’s 4K UHD TVs offers distinctive features through integration, consumption and interaction of TV in the everyday lives of its consumers. Driven by PurColor technology, Samsung UHD TVs are aimed to deliver superior colours with unmatched sharpness and contrast levels. With a host of features such as Live Cast, Tune Station, Screen Mirroring, Lag Free Gaming, Real 4K resolution and 60+ Titles. These TVs empower consumers to enjoy enhanced picture quality and superior content consumption capabilities.

Samsung Spacemax Family Hub™:

The Family Hub™ works with the SmartThings ecosystem, allowing users to control and monitor their connected appliances – Flex Wash Washing Machine and Smartphone – from the Family Hub™ screen. The built-in View Inside camera allows users to digitally label their food with expiration dates or use a mobile device to peek inside their fridge from anywhere. So now, consumers can see what is inside their fridge from the grocery store and/or leave a note on screen to remind the kids to clean their rooms after school. Users can do countless other things without ever leaving the kitchen.

Consumers can manage food, with the View Inside app that enables users to see inside the fridge from anywhere. The recipes app offers multiple recipes to choose from around the world and prepare the food that the family loves.

Samsung Side-by-Side and Frost Free Refrigerators:

The Spacemax Side-by-Side Refrigerators and Frost Free Refrigerators cater to the diverse storage needs of Indian consumers. Samsung refrigerators are a blend of freshness, energy efficiency, even cooling and durability. They are the perfect solution to provide savings on electricity bills, retain uninterrupted cooling and freshness even during power cuts.

WIND-FREE 2.0 SERIES:

Samsung’s Wind-Free™ 2.0 system uses 23,000 micro-holes to gently spread air evenly throughout the room, maintaining a comfortable level of coolness without any draft. Once the desired temperature is reached, the system disperses fresh air uniformly. The design has been upgraded to rectangular from the previous triangle design and with this change the micro-holes have been increased to 23,000 from 21,000 in the previous version.

The Wind-Free 2.0 enables users to control their ACs using the Smart Home App through Wi-Fi. The ACs allow the user to remotely control the functions and schedule operations along with live feedback. Users can also monitor and limit power usage as per their needs. The latest Wind-Free ACs are equipped with Motion Detect sensors (MDS) and automatically go into an energy saving mode if it does not detect any human presence for 60 minutes. Another option which users get through this feature is to choose the wind direction.

Samsung Digital Inverter Air Conditioners:

Samsung Air Conditioners have been designed carefully keeping in mind the consumers’ needs and expectations, which are faster cooling, less electricity consumption and uncompromised cooling even in hot summers. Convertible Mode, introduced this year, is Samsung’s another technology, which when activated allows consumers to save more energy when they are sitting alone in a room.

Samsung Microwave Ovens:

Samsung has revolutionized Indian cooking with innovations in microwave ovens that have been made specifically for India. Consumers can now prepare Masala, Tadka and Sun-dry food, in addition to making Roti/Naan and Curd in the new Microwave range.

Samsung Digital Inverter Motor Washing Machines:

Samsung Washing Machines, powered by digital inverter motors, consume less energy while producing minimal noise and vibration, when the washing machine is running. Having less friction makes the washing machine run much quieter and smoothly, which makes it perfect for open plan living and keeping that budget in check.

SBI Further Empowers Farmers with YONO Krishi; Introduces Kisan Credit Card Review on the Platform

Kisan Credit Card (KCC) 

* Bank introduces KCC Review feature on the YONO Krishi platform which has been witnessing great response from farmers

* YONO KCC Review to enable farmers access their KCC limit on YONO in just four clicks

* YONO KCC Review to benefit more than 75 lakh farmers

* YONO KCC review will empower farmers to embrace digital technology and make them future-ready

* YONO Krishi platform offers a one-stop solution to all farmers’ agricultural needs

Country’s largest lender State Bank of India (SBI) continues to empower its farmer customers by offering them technology backed agricultural solutions with YONO Krishi. The recently launched platform that caters to all the requirements of farmers – from sowing to harvesting and then selling – has been receiving significant traction from the farmers. In the current unprecedented times due to the COVID-19 pandemic, SBI is set to make lives easier for its farmer customers by introducing the KCC Review option on YONO Krishi. With this added feature, farmers will no longer need to travel the distance to visit the bank branch to apply for a revision in their KCC limit. KCC Review option on YONO Krishi will help farmers apply for the same in just 4 clicks from the comfort of their homes without any paperwork.

Recognizing the fact that not all farmers may have access to smartphones, SBI has also streamlined the KCC review process at its branches. KCC Review on YONO Krishi is expected to benefit more than 75 lakh farmers having KCC accounts with SBI. The feature of paperless KCC review will not only help farmers save costs and effort involved in applying for revision of the KCC limit, but also make the process quicker for them especially during the harvesting season.

Rajnish Kumar, Chairman, SBI said, “Introduction of YONO KCC Review on YONO Krishi is SBI’s yet another initiative to make our farmer customers, future-ready by offering them constant digital innovations pertaining to their agricultural needs. This new feature has been added keeping in mind millions of our valuable farmer customers’ convenience and safety. We believe that they will now be experiencing hassle-free application process for their KCC limit revision. With a Digital-First approach, it is SBI’s continuous endeavor to provide innovative digital banking solutions to all our diverse set of customers across the country.”

Apart from KCC Review, the multi-lingual YONO Krishi platform - which is bringing-in technology to farmers in more than 10 vernacular languages - is offering services such as YONO Khata, YONO Bachat, YONO Mitra and YONO Mandi to its farmer customers. These unique offerings facilitate farmers with Agri loan products, an online marketplace to buy and rent agricultural inputs and equipment, customized farming advisory, investment, and crop insurance products, instant agri gold loan, upgrade to scientific farming practices, and much more. With YONO Krishi, SBI has opened the doors of digital agriculture to farmers. In just one year of its launch, YONO Krishi has disbursed more than 14 lakh Agri Gold loans and has seen more than 15 lakh clicks on YONO Mandi and YONO Mitra

YONO itself has grown by leaps and bounds over the last two and a half years since its launch. It has seen more than 58 million downloads with over 26 million registered users. YONO has partnered with over 80 e-commerce players in more than 20 categories. The bank’s flagship banking and lifestyle platform – YONO is also tasting success in international markets such as the UK and Mauritius.

BPO and IT Sectors Lead Talent Demand Recovery with Double-Digit M-o-M Growth: RecruiteX

* BPO (15%), IT (10%) and BFSI (7%) emerged as the top three sectors with maximum M-o-M growth in talent demand in July 2020   

* BFSI – had shed most talent demand in June 2020 - picked up the pace and gained 7% growth in talent demand in July 2020 M-o-M study

* Customer Services/Tele Calling, Front Office/Administration and IT/Telecom were the most sought after job profiles in July 2020

* Vadodara (over 30% growth) and Hyderabad/Secunderabad (16%) were the top gainers for talent demand in July 2020 study

* Professionals with 5-10 years of experience were most in-demand in the review month

With ‘recovery’ as the key focus in ‘Unlock3’, talent demand is already picking pace as BPO and IT/Telecom sectors noted a double-digit growth in July 2020 analysis. TimesJobs RecruiteX noted that BPO (15%), IT (10%) and BFSI (7%) emerged as the top three sectors with maximum M-o-M growth in talent demand in July 2020.      

TimesJobs RecruiteX is a monthly recruitment index that records the demand and supply of talent at India Inc.

Overall, talent demand in July 2020 grew by 2% M-o-M, pushed largely by growth in high volume sectors like BPO, IT and BFSI.

Talking about the details of RecruiteX July 2020 edition, Sanjay Goyal, Business Head, TimesJobs and TechGig said, “The talent demand trends for July 2020 are heartening. Though the overall growth in July 2020 is only 2% since it’s based largely on high volume sectors as BPO, IT and BFSI, I’m very confident that this trend will continue in the coming months. I foresee the talent demand to pick up from here on as India Inc has actively started working towards the road to recovery. Smart companies are, now, focussing on constructive learnings from this difficult situation which would help them to grow in future. ”

Industry-wise (MoM growth):

Following its growth pattern of June 2020, the BPO sector saw an impressive 15% M-o-M increment in talent demand in July 2020 too. The IT/Telecom and BFSI sectors had witnessed (-6%) and (-2%) de-growth respectively in June 2020 but bounced back in July 2020. Here are the top three sectors for talent demand in July 2020:

·         BPO: 15%

·         IT/Telecom: 10%

·         BFSI: 7%

Functional areas:

Customer Services/Tele Calling job profile jumped from 4% growth in talent demand in June 2020 to 18% growth in July 2020. On the other hand, Front Office/Administration profile had clocked 21% growth in June 2020, but could only register 11% growth in July 2020 analysis of talent demand. Here are the top three job profiles as per talent demand in July 2020:

·         Customer Services/ Tele Calling: 18%

·         Front Office/ Administration: 11%

·         IT/Telecom: 8%

Location-wise:

Most talent demand in July 2020 was posted in Tier-II cities, with Vadodara recording a growth of over 30%. Among the metropolitan cities, Chennai saw the most growth with 10% increment. Mumbai and Delhi noted 8% and 1% growth in July 2020. Bengaluru noted de-growth of (-7%) in July 2020.  Here are the top three cities as per talent demand in July 2020:

·         Vadodara: over 30% growth

·         Hyderabad/Secunderabad: 16%

·         Ahmedabad: 11%

Work experience-wise:

Professionals with 5-10 years of work experience were most in demand, and this category noted 11% M-o-M growth in talent demand. Here are the categories of work professionals as per talent demand in July 2020:

·         5-10 years of work experience:11%

·         2-5years of work experience: 8%

Mswipe Launches “Bank Box” to Revolutionize the Digital Payment Landscape for SMEs

 * New affordable offerings comprising of zero rental and zero MDR solutions

* Small businesses can collect and pay digitally even without a bank account

* Enters issuance business with Mswipe Moneyback Card to help merchants earn as they spend

* One-time digital KYC for hassle free and instant signup

Mswipe announced today the launch of Bank Box, a digital acceptance and payment solution designed to meet the cost-centric needs of MSMEs and merchants, as well as provide for a seamlessly integrated experience. Through this launch, Mswipe aims to pave the way for a futuristic payment solution platform and address key challenges that merchants and MSMEs face, with recurring costs on POS terminals like PoS rentals and Merchant Discount Rate (MDR).

Mswipe, India’s largest merchant acquirer with a network of 6.75 lakh POS and 1.1 million QR merchants, set out with the vision to build a cutting edge product – one that combines their acquiring and issuing platforms into a one-stop-shop, “Bank Box”, which enables easy signup, instant activation of the terminal and lifetime zero rental and zero effective MDR for merchants.

Manish Patel, Founder and CEO, Mswipe said, “COVID-19 has significantly impacted the earnings of small businesses, which in turn has led to curbed expenditures from their end. As a market innovator, Mswipe is helping MSMEs and merchants control costs incurred while accepting digital payments and further incentivize them to make digital payments. Essentially, Mswipe’s Bank Box facilitates small, medium and micro businesses to break into the digital ecosystem at the lowest possible TCO and sign up - even if they do not have a bank account.”

With a one-time digital KYC, businesses can choose between Bank Box Go - a POS solution with zero rental and zero MDR or Bank Box Lite - a QR solution with 0 rental and 1% cashback on all transactions and instantly go live. In both offerings a merchant gets a UPI QR and a Moneyback Card. Bank Box Go additionally provides an affordable mPOS capable of accepting chip + pin and contactless card payments. For Bank Box Go merchants have to pay a one-time fee of Rs. 4,000 plus taxes while for Bank Box Lite, they pay only Rs.199 plus taxes.

Sameer Hoda, President, Strategy and Operations, Mswipe said, “With Bank Box we have democratized the digital acceptance and payments ecosystem for the smallest of businesses by giving them a choice. With Mswipe now both an acquirer and issuer, we have provided an end-to-end digital enablement of MSMEs and merchants and empowered them to join the Digital Bharat movement.”

While mPOS allows acceptance of multiple modes of payments including UPI, Visa, Mastercard and American Express, mQR accepts payments from more than 150 UPI and mobile banking apps like PayTM, Axis Bank and BHIM among others. To spend digitally, merchants can load their Mcard with up to Rs. 1,00,000 per month.

Mswipe is targeting merchants with an average daily digital collection of Rs. 2,000 - Rs.2,500 in tier 3-4 markets and Rs. 8,000 - Rs. 10,000 in Metro and semi-urban areas.

About Mswipe:

Mswipe aims to be India’s largest financial services platform for SMEs and merchants by providing seamless mobile POS and value-added Services. It is the largest independent mobile POS merchant acquirer and network provider with 6.75 lakh POS and 1 million QR merchants across the country. Mswipe offers a host of POS solutions for all types of payment acceptance - cards, wallets, mobile payment apps and bank apps, contactless and QR payments. Headquartered in Mumbai, Mswipe began operations in 2011. Its key investors include B Capital, UC-RNT, Falcon Edge Capital, Matrix Partners India, DSG Partners and Epiq Capital. 

Panasonic Jaguar Racing Head To Berlin for a Lockdown Showdown

Berlin Tempelhof

* After more than 150 days, Panasonic Jaguar Racing head to Berlin Tempelhof, Germany for the final six races of season six of ABB FIA Formula E

* The pacesetting Jaguar I-TYPE 4 will line up for six races in an incredible nine days on three different track layouts for the most intense finale in motorsport history

* Mitch Evans sits second in the ABB FIA Formula E drivers’ championship

* Panasonic Jaguar Racing are third in the ABB FIA Formula E teams’ championship

* Tom Blomqvist announced as the reserve driver for Panasonic Jaguar Racing

* Lights go green for the Berlin E-Prix at 19:00 local time (CET) on 5 August

After 158 days, Panasonic Jaguar Racing will head to Germany to complete season six of Formula E in a unique lockdown showdown. Berlin’s Tempelhof circuit will witness six races in nine days with three different track layouts.

Sitting second in the drivers’ championship, Mitch Evans, and teammate James Calado will look to push for more points, podiums and wins during the ABB FIA Formula E Berlin E-Prix with the pacesetting Jaguar I -TYPE 4.

Tom Blomqvist is confirmed as the reserve driver for the remaining six races of the season, replacing Alex Lynn who will drive for Mahindra. The British-Swedish driver previously drove for the Andretti Formula E team in 2018.

James Barclay, Panasonic Jaguar Racing Team Director:

“We’re going into the final six races in Berlin in a great position. Whilst it’s going to be an  intense challenge for all of the team to complete six races in nine days we are looking forward to it and feeling positive that we are ready to give it our all to fight for the drivers title with Mitch and achieve our best result to date in the team standings. At Panasonic Jaguar Racing our season six objective was to compete for more points, podiums and wins and so far, we’ve done just that. It’s been a long break in the season, but we are hungry to pick up where we left off and finish the season successfully. The whole team has been working incredibly hard during lockdown to ensure that we maintain our positive momentum. We never underestimate the quality of our competition in Formula E though and the challenge that the team and the drivers will face in Berlin but we are fully prepared and ready to give it our all. It’s ultimately within reach so we will be doing our all to achieve our goals together.”

Mitch Evans, Panasonic Jaguar Racing Driver #20:

“This season we’ve tasted success and I am really proud of my performance, particularly in the last three races. We achieved Super Pole and a Podium in Santiago, we won in Mexico City and we made history in Marrakesh by gaining 18 places and finishing P6 after starting from the back of the grid. Being second in the drivers’ championship puts me in a good position heading into Berlin but I know I can’t underestimate the challenge that we have ahead. Our Jaguar I-TYPE 4 is incredibly quick so I’m hoping to show the everyone that we can be in the fight by 13 August.”

James Calado, Panasonic Jaguar Racing Driver #51:

“I’m looking forward to getting back into the Jaguar I-TYPE 4 at the Tempelhof circuit. I started in P10 in Marrakesh and felt like I had made some solid progress. I want to give my best performance in Berlin. My role is to support Mitch and the team and secure as many points as possible. I’m sure it will come with its challenges and this break has definitely added the pressure but I’m ready for the lights to go green and finish the season on a high.”

In less than one week, the ABB FIA Formula E Berlin E-Prix will commence, with the first race of six taking place on Wednesday 5 August at 19:00 (CET) ahead of the most intense finale in motorsport history.

BharatPe Launches ‘ESOP Cheque Cash Karo’ Scheme in India

BharatPe, India’s largest merchant payment and lending network company, has launched India’s first ‘ESOP Cheque Cash Karo’ scheme. All ESOP holders have been given option to sell back shares from their 1st vesting back to BharatPe.  

BharatPe has one of the most progressive ESOP schemes amongst the startups. BharatPe has 6% (US$ 25M+) of its overall equity allotted to the ESOP pool. All employees are given ESOP Grant along with appointment letter. ESOPs carry ZERO strike price. The vesting is front ended in favour of employees with 25% vesting on year 1 and thereafter 2% every month. The employees are not required to exercise the ESOPs on leaving and can time it with a liquidity event anytime up to 5 years. Now with the ‘ESOP Cheque Cash Karo’ scheme, employees will be able to enjoy liquidity upfront which will establish ESOP as valuable and liquid currency.    

Mr. Ashneer Grover, Co-Founder & CEO, BharatPe, said: “In Indian ecosystem, ESOPs have been one of the most abused and misunderstood instruments. Verbal grants, back ended vesting and last-minute changes to even documented ESOP grants have eroded employee faith in ESOPs.” 

”BharatPe is pioneering welcome change in ESOPs. BharatPe ESOP grant is like a cheque in the hands of employees. We are encouraging our employees to bank their first ESOP cheque and enjoy the value they’ve created as cash in bank. BharatPe ESOP is not a mere promise – it is an appreciating currency. 1US$ = Rs.70; 1 BharatPe ESOP = Rs.7,00,000” Ashneer added. 

Mr. Geetanshu Singla, Head of Engineering, BharatPe, said: “Really happy that the company has announced buyback of the ESOPs during the pandemic to support current and even ex-employees. It’s like a post-dated cheque. This is the first and last time I’m exercising my stock options and will hold on to them, they will be the most valuable asset that I hold"  

About BharatPe 

BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018 with the vision to make financial inclusion a reality for Indian merchants. BharatPe launched India’s first UPI interoperable QR code, first ZERO MDR payment acceptance service, first UPI payment backed merchant cash advance product, and the only P2P NBFC investment product. In 2020, post Covid, BharatPe also launched India’s only ZERO MDR card acceptance terminals – BharatSwipe. Currently serving over 40 lakh merchants across 35 cities, the company has grown business 30x in 2019 and is the leader in UPI offline, processing 5 crore+ UPI transactions a month (annualized TPV of US$ 3 Bn). The company has already disbursed more than 35,000 loans (Rs. 175 crores). 

Ameyo Reaches Turnover of Rs. 90 Cr in FY 2020 with 27% EBITDA

Ameyo, a leading provider of Omnichannel Customer Engagement Technology today revealed business results from FY 19-20, a year during which the company grew at 30% with 27% EBITDA to reach a turnover of Rs. 90 crores.

Over the last few years, Ameyo has been pivoting its revenue model from licenses to a subscription business with 50% recurring revenue of Rs. 45 crores in FY 19-20.

The firm has a presence in 60+ countries with international business contributing to almost 43% of the turnover at Rs. 38.4 crore

Commenting on this growth, Bishal Lachhiramka, Co-founder & CEO, Ameyo, mentions, “Ameyo has continued to grow at a steady pace with profitability, thanks to our focus on creating products & solutions that provide value to our customers. With COVID-19 and the focus on digital transformation, our growth has been accelerated. We will continue to focus on creating solutions for the unique problems of emerging geographies.”

During Q1, 2020, Ameyo grew its customer base by over 100 percent, adding HDFC ERGO General Insurance, Sridhar Insurance, Apollo Health and Lifestyle, Zolo, BYJU’S, D.Light, STC Channels, LR Data, SP Madrid, Toppr, Jubilant FoodWorks, Spice Money, Rebel Foods (Faasos), The Muthoot Group, Vistaprint, and many more.

Ameyo recently launched the RBI compliant Video KYC engagement platform with omnichannel capabilities that allow the Regulated Entities (REs) to reduce onboarding drop-offs by 20% and reduce the cost of KYC by 90%. The solution is built for scale and operates even at low internet bandwidth and a variety of devices to target the masses.

Sachin Bhatia, Co-founder and Global Sales & Marketing Head at Ameyo, adds, “Contact centers are going to play a pivotal role in the post-COVID-19 times, as they provide the last line of human to human interaction between brands and consumers. We are very bullish about the next wave of growth with our new product launches that enable brands with remote solutions for Sales, Onboarding, Customer Service, and Collection use cases.

In the near future, Ameyo plans to launch a series of solutions in the AI space using their own IP as well as by partnering with market leaders in the space. The firm has invested in AI to use sentiment analysis in the routing of interactions and is planning to use it for three main purposes i.e. Intelligent Routing, Assisted Service, and Quality Monitoring.

Geographically they will continue to expand into newer markets in Southeast Asia, ME, and Africa and have recently also entered the markets of South Africa, Ethiopia, Egypt, Bahrain, and Vietnam.

The 400+ employees strength company initially started off with solutions for contact center channels like voice and email but today they are catering to all social media and chat platforms like Facebook, WhatsApp, Google Play Store, Instagram, Twitter, and Viber.

About Ameyo

Ameyo is an Omnichannel customer engagement platform that helps businesses go remote with its 3 Unique Remote Contact Center Solutions and help them streamline their customer service, customer support, and collection processes.

Ameyo's robust platform is available for on-cloud and on-premise implementation with private, public, as well as hybrid instances. It has pre-built integrations with all significant industry-grade CRMs. Ameyo provides strong omnichannel capabilities of Voice, IVR, ACD, Dialers, Email, Chat, and Social Media such as Instagram, Google Play, Twitter, Facebook & WhatsApp. 

5 Points to Consider Before Purchasing a Second Health Insurance Plan in Indian Market

Buying a second health insurance plan is not a trivial task. You need to assess several things before buying an additional plan for a successful health insurance investment.

In this article, InsuranceDekho attempts to help potential insurer buyers choosing a second health insurance policy make an informed decision. Before going in for a second health insurance plan, do consider the existing conditions and future requirements. 

Some of these requirements are as follows:

* Your age and family members to be covered

* Number of family members to be covered under the plan

* Current income

* Entire family members’ medical record, past and current

* Coverage available under the current policy

Policy Coverage 

If your existing plan is falling short of delivering the promised offerings, then it’s time to look for another plan. Sometimes policies cannot meet a family’s medical needs due to some limitations, exclusions or capping features. You should ensure that the second policy acquires no sub-limits, co-payment clauses, or any other hidden limitations or exclusions. This will help avert any type of hurdle during hospitalization.

Top-up Plans

Besides going for a second health insurance policy, you can buy a top-up plan. A top-up plan provides coverage beyond the sum insured in the insurer’s existing plan. It enhances health insurance features and benefits.

A top-up plan can be bought on an existing plan or as a basic policy. You can opt for such plans either from the current insurer or from any other insurer. If you possess an insurance cover offered by your firm, you can pick a top-up policy on the same and can enhance his saving.

So, consider going in for a top-up plan before buying a new health insurance policy.

Critical Illness Riders

A critical illness rider is an optional add-on feature. It enables policyholders to avail a lump sum (Sum Assured) amount in case he/she is diagnosed with critical illnesses mentioned in the policy wording. Thus, it can protect you and your family from any financial crunch that may arise due to some unforeseen critical illnesses.

The best thing is that a critical illness rider is available at a lower premium rate than the premium paid for second health insurance. You can buy it to compliment his existing health insurance. It can protect you and your family from any financial crunch that may arise due to some unforeseen critical illnesses.

So, it is advisable to opt for a critical illness rider instead of going for another policy in certain cases.

Look for portability feature

The portability feature is an option to change health insurance policy from one insurance company to another without losing benefits the insurer has accumulated.

If planning on buying a second health insurance policy just because the services are unsatisfactory, it is advisable to change the insurer. This way you will not lose the benefits of the existing policy.

While availing the portability option, you should opt for a higher sum insured (higher than the sum insured of the current insurer) with extra offerings and benefits such as critical illness cover. So, portability can be an ideal option to upgrade your existing plan and avail more coverage benefits and better service than before. 

Lifelong Renewability

If you have a health insurance policy, which allows the renewability option up to a certain age only, then you must opt for a new plan with lifetime renewability feature. This is beneficial because once you reach the age beyond which you can’t renew your policy, a plan with the lifetime renewability allows you to renew your policy lifetime i.e. without any age restriction.

So, even if you forget to renew your plan before the due date, the grace period (the policy will be renewable provided you pay the premium within 15 days after the expiry date) can give you a chance to renew your plan post the due date without losing its benefits.

Infogain Recognized as 3rd Fastest Growing Company in Everest Group’s Engineering Services Top 50™ 2020

Infogain, a Silicon Valley based digital platform and software engineering company­, is pleased to announce that it ranked 3rd in revenue growth and 32nd overall in Everest Group’s Engineering Services Top 50™ 2020, a global list of the 50 largest providers of outsourced engineering services. In addition, ChrysCapital-backed Infogain’s buys of Microsoft (NASDAQ:MSFT) Azure Expert MSP Silicus Technologies and strategy and design firm Revel Consulting featured in the report’s list of key acquisitions made by engineering companies in 2019.

Third-party providers were evaluated and ranked based on their CY 2019 engineering services revenue and year-on-year growth. This is the second year Everest Group has released an Engineering Services Top 50™ list, with this year’s Top 50™ accounting for $45.9 billion in revenue as compared to $40.5 billion in CY 2018.

Infogain was credited for offering key engineering services across select verticals, including Software Products, Computing Systems, Consumer Electronics, Healthcare & Medical Devices, Industrial & Energy, and Automotive.

Ayan Mukerji, President and Chief Operating Officer at Infogain, said, “We are pleased to make Everest Group’s Engineering Services Top 50™ 2020 list and to be recognized as 3rd for revenue growth. 2019 was a great year for us: we closed several large deals and joined hands with two outstanding companies offering niche, high-value-add services. This ranking is a great testament to Infogain’s software engineering expertise and relentless commitment to delivering value to our customers.”

The Top 50™ list helps enterprises get a better sense of the global third-party engineering services landscape, make more informed sourcing decisions, and identify new ways to leverage third-party engineering services providers. This list also helps service providers make better assessments of their competitive positions compared to their peers.

The Everest Group Engineering Services Top 50™ 2020 report can be viewed here.

About Infogain

Infogain is a Silicon Valley headquartered company with digital platform and software engineering expertise in the travel, retail, insurance, healthcare, and high technology industries. We accelerate design-led transformation and delivery of digital customer engagement systems and platforms. Infogain engineers business outcomes for Fortune 500 companies and digital natives using technologies such as cloud, microservices, robotic process automation, IoT, and artificial intelligence.

A ChrysCapital portfolio company, Infogain has offices in California, Washington, Texas, London, Dubai, India, and Singapore, with delivery centers in Austin, Kraków, New Delhi, Bangalore, Pune, and Mumbai.

FCC & NPCI to Host Global Virtual Fintech Festival on July 22-23, 2020

Fintech Festival

* One-of-a-kind global event convened by NPCI and IAMAI and presented by RBI and Department of Economic Affairs (DEA), to bring together Fintech & BFSI ecosystems

* Event supported by World Bank and the United Nations Capital Development Fund (UNCDF)

* Premier global fintech event to be hosted on 22-23 July 2020

* To host 50+ countries, 100+ speakers and 10,000+ delegates

* Amitabh Kant, Nandan Nilekani, Uday Kotak, V Vaidyanathan, Sachin Bansal and Alderman William Russell among key speakers

* To facilitate discussions on the road ahead and collaborations for businesses in the post-pandemic world

To bring together fintech and BFSI ecosystems across the globe, the Fintech Convergence Council (FCC) the flagship fintech committee of Internet & Mobile Association of India (IAMAI) along with National Payments Corporation of India (NPCI), and the Payments Council of India (PCI) will host the Global Fintech Fest (GFF) a first-of-its-kind international virtual fintech event.

The event is presented by the Department of Economic Affairs (DEA), Ministry of Finance, Government of India and the Reserve Bank of India (RBI).

The two day event themed – ‘Fintech: With and Beyond COVID’ is scheduled for 22-23 July 2020. The event is also supported by the World Bank and the United Nations Capital Development Fund (UNCDF).

In times of global uncertainty, India continues to be a bright spot in the world economy. GFF aims to showcase India’s thought leadership across the global ecosystem, while harnessing the BFSI and fintech sector to be the ‘change agent’ for the economy in the post-pandemic world.

Naveen Surya, Chairman, Fintech Convergence Council & Chairman Emeritus, Payments Council of India, said, “The bank and fintech ecosystem has the potential to act as ‘agents of change’ for the economy in the post-COVID-19 world. With more than 2000 fintech startups as we speak, India today stands tall as the world’s second biggest fintech hub which puts a lot of onus on us to drive this growth momentum. GFF is our endeavour to bring all stakeholders together to discuss the challenges and opportunities for the BFSI and fintech sector globally whilst sharing ideas on fuelling sectoral growth through collaboration.”

Dilip Asbe, Managing Director and CEO, NPCI said, “The contribution of fintech start-ups in digitalizing the economy is important and hence NPCI wants to act as a catalyst for bridging the gap between the established financial entities and the start-ups. By encouraging open discussion among start-ups and established entities we hope that it will lead to collaborations benefiting the nation.

GFF will be the largest virtual congregation for the BFSI and Fintech ecosystem. It will be the ‘go to platform’ for companies and entrepreneurs to showcase their innovations and ideas as well as connect with peers, investors and potential customers thus creating growth and networking opportunities for the eco-system.”

Amitabh Kant, CEO, Niti Aayog, Nandan Nilekani, Co-founder and Non-Executive Chairman of the Board, Infosys, Uday Kotak, Managing Director & CEO, Kotak Mahindra Bank, V Vaidyanathan, MD & CEO, IDFC First Bank and Alderman William Russell, The Rt Hon Lord Mayor, City of London are among the keynote speakers for the fest.

Justice BN Srikrishna, Retired Judge, Supreme Court of India, Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, G Padmanabhan, Non-Executive Chairman, Bank of India, Sachin Bansal, Founder, Navi, Stephen Ingledew, Chief Executive, Fintech Scotland, Lizzie Chapman, Co-founder & CEO, Zestmoney, Denise Gee, Managing Director, Finexable, Dilip Asbe, Managing Director & CEO, NPCI, Praveena Rai, COO, NPCI, Arif Khan, CDO, NPCI, Rajan Anandan, Managing Director, Sequoia Capital, Kunal Shah, Founder & CEO, CRED, T R Ramachandran, Group Country Manager, India & South Asia Visa, Sameer Nigam Founder & CEO, Phonepe, Shivananda - SVP & CTO, Paypal, are some of the distinguished speakers among many others.

The global platform will host discussions by eminent industry stakeholders on -- the next stage of growth for financial institutions, ways for businesses to collaborate and the role fintech will play in the post pandemic world. The fest will drive thought leadership and conversations across sectors and subjects including -- Digital Payments, Digital Lending, Digital Insurance, Data Management, Financial Inclusion, Digital Transformation and Blockchain etc.

With 50+ countries, 100+ speakers and 10000+ delegates in attendance, GFF will bring together representatives of banking, financial technology and investment industries from across the globe to host impactful dialogues, public discussions and a curated exhibition of the latest disruptive technologies.

The fintech fest will stream live on social media platforms of YouTube and Facebook and is likely to be viewed by 100,000+ audience. For more information on GFF, including how to participate in or sponsor the event, please go to https://www.globalfintechfest.com

FCC has been at the forefront, working towards positioning India as a thought leader across the global fintech map. In the recent past, the body had joined hands with the Mumbai Fintech Hub, Government of Maharashtra, Ministry of Electronics and Information Technology (MeitY) and NPCI to host ‘India Fintech Festival (IFF)’. A first-of-its-kind global platform, IFF eyed for a collaborative growth ecosystem for fintech in India. The event which got stalled on account of the global pandemic is set to resume soon and the dates are expected to be out shortly.

About NPCI –

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay. NPCI also launched UPI 2.0 to offer a more secure and comprehensive services to consumers and merchants.

NPCI is focused on bringing innovations in the retail payment systems through use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

NoBrokerHood Launches Touchless Entry with Face Recognition to Make Society Living More Secure

We would have seen countless sci-fi and James Bond movies with facial recognition technology as it is considered to be cutting-edge, safest, and fool proof in security systems. NoBrokerHood, the leading visitor and society management app by NoBroker.com brings the reel life experience to real life with its latest launch, Touchless Entry with facial recognition technology. Touchless Entry is designed to enhance the safety, security, and convenience of residents in building societies. The company has used the latest technology and adapted it to give the users a truly fool proof, intuitive, and no-contact experience using the NoBrokerHood app.

The tech-driven company continues its focus on bringing the technology of the future to your home. Touchless Entry starts with a Face Capture and your ‘Daily Help’ or servicemen will be added to the app. Here, 3 scans are taken of the person’s face – Left, Right and Centre to ensure high accuracy. This is a one-time process that takes less than 30 seconds.

Once the individual is added, every time they enter after that they will just have to face the guard’s mobile phone camera for a millisecond. Touchless Entry is fool proof and can process 5 faces in less than a second! Once the scan is done and matches with the records the entry is automatically approved. This is much more secure and faster process than any other technology available till now.

All the information including face scans are 100% safe and secure. The feature is centred around user’s security. It is not a third-party application which means, it’s completely made in India, by NoBroker, and data is not shared ANYWHERE or with ANYONE.

The face scanning and processing happens on the guard app in the device itself. Very minimal information is transferred and exchanged to the backend. The information saved is an encrypted representation of a face, and NOT an image of a face. There is no way to recreate a face using this high-level encrypted information.

Akhil Gupta, Cofounder and CTO of NoBroker said, “We noticed that the entries and attendance done for domestic help, and service staff, was done through two methods – Passcodes and Fingerprint scans (biometric). When you use the passcode method to monitor entry, there is a possibility that others can gain entry by proxy. They could use someone else’s passcode and enter your building society. To fix this issue, fingerprint scanning was introduced. This method is fool-proof and eliminates the possibility of proxy entries. But, when COVID-19 is causing chaos, we wanted to find a way to eliminate touch, without diminishing security. This technology meant to revolutionise the home security system was built completely inhouse.”

Societies that are already using NoBrokerHood can request a trial of this feature today! The company is rolling it out to a few select societies for FREE for a limited period. If you want to try it just sign up for NoBrokerHood and you too might get to try it for FREE.

About NoBrokerHood

NoBroker launched NoBrokerHood, a smart visitor and residential community management system that makes life more convenient and secure for residents of housing societies and townships. NoBrokerHood acquired Society Connect in February 2020 to integrate financial module with its services on one single platform and make society living easy and hassle-free.

NoBroker.com is a tech-enabled brokerage-free real estate platform that makes the real estate transactions seamless and efficient. It participates in the entire user journey starting from the house search to packers & movers, home loans, rental agreements, cleaning services, and NoBroker Pay. With more than 8.5 mn registered users, it’s the world’s largest C2C real estate platform. Founded by Amit Kumar Agarwal, Saurabh Garg and Akhil Gupta, it has raised total funding of $151 million.

Hyundai Partners with HDFC Bank Offering Customised Online Car Financing Solutions on ‘Click to Buy’

Finance Solutions 

* First OEM to offer retail financing solutions on online car buying platform

* Eliminates customer need to visit HDFC Bank/ Branch to avail car financing solutions

* Customised retail financing solutions available at the click of a button

Hyundai Motor India Limited (HMIL), country’s first smart mobility solutions provider and largest exporter since inception, announced its partnership with HDFC Bank, offering industry first online auto retail financing solutions to the customers on India’s only end-to-end online automotive retail platform ‘Click to Buy’.  

Under the ambit of this partnership, Hyundai will offer its customers customised car financing solutions from HDFC Bank directly on the ‘Click to Buy’ online car buying platform. Through this partnership, customer can opt for loans and get the requisite funding to complete life goals of buying their Favourite Hyundai car. The integration of HDFC Bank’s car finance solutions on ‘Click to Buy’ adds further comfort to customers as it eliminates the need for customers to visit HDFC Bank/ Branch to avail loans.

Commenting on the partnership, Mr W S Oh, Executive Director – Corporate Planning, Hyundai Motor India said “Keeping our promise of providing a holistic digital car buying experience to our customers, our partnership with HDFC bank will forge a new beginning for the customer purchase journey from any virtual location with the most lucrative finance deals. Since the launch of Click to Buy, we have received over 9 lakh visitors on the platform and have recorded over 17 000 Registrations in two months. 

Speaking on the alliance Mr. Arvind Kapil, Country Head for Retail Lending at HDFC Bank, "The partnership with Hyundai Motor India is in line with our belief that a digital eco-system needs to be created to enhance customer experience, particularly in the current environment. An eco-system that brings OEMs, dealerships and financiers together and enables a customer to purchase a new car sitting in the comfort of their homes. At the core of our digital strategy is Analytics and APIs .Analytics helps us understand our customers better and give them customized product offerings and services. While APIs enables us to create a seamless connect between various stake-holders keeping the customer at the centre. We are happy to say the association with Hyundai Motor India is a win-win not just for customers but all players in the auto industry”

‘Click to Buy’ is designed to facilitate end-to-end retail of Hyundai cars online making owning a new car – contactless, safer, convenient and hassle free. With ‘Click to Buy’ Hyundai is offering access to its complete range of car models and is the only platform that covers all stages of customer purchase journey in an even more seamless and convenient manner. Through this online car buying platform, Hyundai is offering customer delight with features such as on-road prices, dedicated sales consultants, online finance options, fastest loan approval for pre-approved customers, unique deal codes for customer discounts, estimated time of delivery, special online promotions, online booking for test drive cars (Fully Sanitized) and home delivery of completely sanitized cars. 

StanChart to open KPO in Bangalore; Hire 2,000 staff

Foreign lender Standard Chartered Bank plans to hire around 2,000 employees in India in the current financial year, a top official said.

The bank currently has around 8,000 employees in the country.

The banking major has also plans to open an office of its knowledge process outsourcing network -- Scope International-- in Bangalore by October, StanChart's Chief Operating Officer, India and South Asia Sreeram Iyer told reporters here.

At present, Scope International has offices in Malaysia, China and Chennai.

It employs over 7,000 employees in its Chennai unit.

Agencies

Now pay your bills through an SMS

Making a payment can just be an SMS away, thanks to the latest offering by mChek that allows consumers to make payments through their mobile phones. mChek, a company that has developed several patent-pending applications in the areas of security and banking announced the launch of mChek/Payment.

mChek/Payment enables consumers to shop with their mobile phones in a convenient and safe manner, either across the counter or with remote merchants. The service enables consumers to easily link their mobile phone with their existing credit card without any software to be installed on their mobile, and subsequently transact on the Internet, call centers or over a simple SMS.

Telecom operator Bharti Airtel has signed up with mChek to offer its post paid subscribers in Karnataka, to make payments by using this application. "Our consistent focus on innovation has enabled us to connect with customers strongly. Services like mChek revolve around Airtel's philosophy to delight customers with newer technologies," said Venkatesh V, CEO, Mobile Services, Bharti Airtel, Karnataka.

BIGFlix.com, a part of Reliance BIG Entertainment, an online and offline movie rental service has also joined hands with mChek to enhance its value proposition for its customers. Kamal Gianchandani, Chief Operating Officer, BIGFlix.com, said, "Today the mobile platform is the fastest growing platform and the most personalized form of marketing to reach customers. Our partnership with mChek will definitely get us one step closer to our customers and ensure faster and convenient value added services."

Through this new application, mChek is all set to transform the way people live by making use of electronic money. Do you know 'How mChek transformed the lives of these people?'

Agencies

Suspected money laundering made record in 2008:Swiss govt

Switzerland, on the 'grey list' of tax havens, saw a surge in suspected activities related to money laundering in 2008, with assets worth Switzerland an all-time high $ 1.65 billion involved in them.

After the world's top 20 economies resolved to crack down on tax havens worldwide at a meeting here last week, the Organisation for Economic Cooperation and Development (OECD) named Switzerland among countries not having substantially implemented international tax standards.

This classification put Switzerland on the 'grey list' of tax havens, but Switzerland reacted sharply to such descriptions and said it was not actually a 'tax haven'.

However, the Swiss Federal Department of Justice and Police (FDJP) has said in a report that the number of Suspicious Activity Reports (SARs) in connection with money laundering jumped from 795 in 2007 to 851 last year.

This included nine related to suspected terror financing and involved assets worth over one million Swiss francs ($ 884,600).

"The increase was due mainly to the greater volume of reports from the banking sector, which reached a new record high. The total value of assets involved doubled to reach an all-time high of CHF 1.87 billion Swiss francs ($ 1.65 bn)," the FDJP said in a statement.

In 2008, the Money Laundering Reporting Office Switzerland (MROS) received 851 SARs, with nearly 67 per cent of them coming from the banking sector. Among them, most were related to investment fraud.

The statement noted that third on the list of offences was bribery related to individual corruption, which, due to their complexity involving numerous businesses, generated several SARs.

"Although the acts of corruption took place abroad, the suspected bribe money was deposited in Switzerland," it added.

Interestingly, Opposition parties in India have said that assets worth about $ 1.5 trillion are stashed away in Swiss banks by Indian citizens.

The FDJP said that in the CHF 1.87 billion, three SARs totalling CHF 700 million ($ 620.5 million) are involved. Among them, two cases involved fraud while the other one was related to corruption.

This included a single report involving an asset value of 942,000 Swiss francs ($ 834,999) and the case was forwarded to the appropriate prosecuting authority, which subsequently dismissed the case.

"None of the incoming SARs relating to terrorist financing was based on the State Secretariat for Economic Affair's so-called Taliban Regulations.

"All but one SAR with an unclear economic background were based on information received from third parties (press reports, information from third persons or prosecuting authorities) indicating possible terrorist involvement.

"After careful scrutiny, MROS forwarded seven of the nine SARs to the Office of the Attorney General of Switzerland, which has in the meantime dismissed or suspended three of the cases. Four cases are pending," the statement noted.

Agencies

Survey reports 38% recruiters anticipate new jobs in 2009

Thirty per cent of recruiters anticipated new jobs to be added in 2009 while 9.5 percent predicted layoffs, according to a recent survey.

Over 40 per cent recruiters in pharma, IT, ITes, retail, telecom, banking feel that there will be creation of new jobs in 2009, the survey, covering over 1500 recruiters and conducted by Naukri.com, a leading job website, said.

According to the survey, 37.8 percent expected replacement hiring while 14.3 percent expected freeze on recruitment procedure.The real estate industry expected a 16 percent layoffs in the sector in the coming months.

As per the survey, the overall job index fell from 776 in November to 697 in December 2008, a drop of 10 per cent in new jobs. Overall, it implied a 31 per cent decline in new jobs since July 2008.

City wise, Delhi, Bangalore, Chennai and Kolkata witnessed a decline in new jobs. Most of the cities saw a decline in jobs, notably Delhi - NCR, registering a drop from 841 in November to 697 in Decmber.

Mumbai moved up marginally from 692 in November to 717 in December. Ahmedabad, Chandigarh, Cochin, Baroda, where jobs grew or declined by a small margin, remained less affected.

Agencies

India to create 90 million jobs across sectors

The "India Shining" story may be under stress by the ongoing economic crisis, but some sectors and career options still hold promise for job seekers this year, according to human resource experts.

Leading advisory Boston Consulting Group says India will have a demand for 85-90 million people across various sectors, and the majority of the demand will come from high-growth industries like IT, outsourcing, banking, retail and healthcare.

Similarly, a survey by HR consultancy Manpower projects hiring to rise steadily by around 18 per cent from this quarter in many sectors, signifying that jobs in India may not be entirely affected by the financial turmoil in rich nations.

"India poses a far more positive outlook as compared to what has been happening across the world," said Cherian Kuruvila, director operations, Manpower India, adding that seven per cent gross domestic product (GDP) growth for the country showed that the economy remained healthy.

"Employers in the mining and construction industries as also services sector are especially looking to scale up," Kuruvila said, but added that new jobs won't be distributed evenly through all regions and industries.

India has a work force of 484 million people, of which 273 million work in rural areas, 61 million in manufacturing and about 150 million in services, says the Boston Consulting Group that recently conducted a study on the country's services sector.

"Going forward, the Indian economy is likely to be overwhelmingly dependent on the growth of services. More than 70 per cent of India's incremental GDP and 60 per cent of new jobs over the next five years are expected to be generated by services."

A survey across the Asia-Pacific region by TNS, a market research and business analysis firm, with Gallup International, a global human resource consulting firm, also threw up interesting findings.

Sixty-two per cent of the Indians polled felt they would be able to hold on to their jobs in 2009 and the 57 per cent who expected unemployment to rise did not not consider they would be the ones affected.

"It seems, despite the slowdowns and reports of downsizing, there is an overall confidence among the employed in India that 'My job is secure! Difficulties, if any, are for others, not me'," said TNS India executive director Chhavi Bhargava.

Experts concede that the present financial meltdown has raised doubts over the performance of some industries and its impact on salaries and perks, but hope Indian businesses will come out of the slump earlier than their counterparts overseas.

"The impact on salary was felt in 2008 and it may continue till some time. The payouts were significantly lower than the 15-200 per cent bonus payouts in 2007," said Absolute HR Services chief executive Kunal Banerji.

"Gone are the days of experimentation with jobs. I would advise employees not to be adventurous checking different jobs. Stability is the mantra," said Confiar Consultants managing director Vivek Ahuja.

Apart from advising employees to keep their jobs this year, HR consultants also feel these are also the times when people will turn to age old values and ethics and play by the book.

"The old adages like no substitute for hard work and no short-cuts to success are back in vogue," Banerji said. "Stay hungry for work or stay hungry is the mantra for corporate India."

Agencies

Indian companies to hire 2,50,000 in next few months

There is a good news for job seekers, with the companies planning to hire more than 2,50,000 new employees over the next months -- making the new year a welcome change from the gloom of 2008 in the job market.

While the proposed over 2.5 lakh hiring is mostly for the financial services industry, the industry experts believe that the overall job market scenario is also set for a recovery in the second half of the year.

Topping the list of the companies planning to hire big include public sector banking giants like State Bank of India and Punjab National Bank as well as insurance firms such as Anil Ambani group's Reliance Life, SBI Life, Metlife, Max New York Life.

Even some BPOs and healthcare firms like ACS and Accentia are planning to hire thousands of people in the coming days.

The proposed hirings include more than one lakh of full- time employees and about 1.5 lakh in the part-time positions with the insurance companies
.

Among other sectors, manufacturing and export-oriented businesses are, however, likely to continue to witness some pressure in the next few months, after huge job losses seen during 2008.

HR consultancy major Hewitt Associates believes that sectors like insurance, telecom (where new licensees are entering), infrastructure and Special Economic Zones may look for fresh hirings in 2009, being the major beneficiaries of the government's stimulus plans.

However, the hiring outlook remains uncertain for sectors like real estate, textile and retail sectors, it believes.

Another global HR consultancy Mercer believes that hiring plans by the companies would depend on their business prospects in the coming year.

Among the major companies planning to hire big time, SBI is planning to recruit 25,000 employees by March. Besides, its life insurance venture, SBI Life, is looking to hire 13,000 agents and 200 sales managers.

Besides, the country's second largest public sector lender PNB and Union Bank are also hiring 5,000 people each, while Indian Overseas Bank, South Indian Bank and IDBI Bank are bringing on board 1,000, 12,000 and 650 employees, respectively.

Among life insurance firms, Reliance Life is hiring 90,000 agents and 2,500 managers, Metlife has announced plans to hire 30,000 agents and 2,000 managers and Max New York Life is recruiting 30,000 agents and 14,000 managers.

Among other sectors, BPO major ACS is hiring 1,000 employees, while health care solutions provider Accentia plans to add 5,000 staff to its payrolls.

" Exponential growth had resulted in a culture where mediocrity flourished. 2009 is an opportunity for companies to bring the performance orientation back into how they manage their human capital," Mercer India Information Product Solution business leader Gangapriya Chakraverti said.

Global HR consultancy major Manpower believes that hiring outlook for the first quarter of 2009 was the weakest since 2005.

Expressing similar views, leading job portal Naukri.com's owner InfoEdge India CFO Ambarish Raghuvanshi told the media that hiring was going to be slow in the first quarter of 2009 as recruitment trends are impacted by the slowdown in economic growth and decline in business confidence in the country.

He, however, added that some improvement was likely in the second half of calendar year 2009.

Source: Agencies