Axis Bank’s Proposed Acquisition Of Citibank’s Consumer Businesses In India Strongly Positions It For Accelerated Growth

Axis Bank and Citibank today announced that their respective Boards of Directors have approved the acquisition of Citibank’s consumer businesses in India by Axis Bank. The acquisition is subject to customary closing conditions, including receipt of regulatory approvals.

The transaction comprises the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

Axis Bank looks at this acquisition as a healthy strategic fit. It will gain access to the large and affluent customer franchise of Citibank having a bouquet of fee-oriented and profitable segments, that include quality credit card portfolio, affluent wealth management clientele, meaningful deposits with 81% being CASA, along with a strong consumer lending portfolio. Post the acquisition, Axis Bank will have ~ 28.5 mn Savings Accounts, 2.3 lakh+ Burgundy customers and 10.6 mn Cards.

The Bank has made large investments in people, processes and technology over the past few years. With all the required capabilities in place, it expects successful integration across all key parameters including employees, customers, product offerings and technology in a value accretive manner. Additionally, the deal offers strategic advantages to the Bank such as premiumization of its overall customer portfolio, increased opportunities to cross-sell its products and accelerated digital transformation.

The acquired portfolio would increase Axis Bank’s credit card customer base by ~31% with an additional 2.5 million cards, which will in turn bolster the Cards balance sheet position to be amongst the top 3 players in the Indian market. Moreover, the wealth and private banking portfolio will add great value to the Axis Burgundy business, further accelerating its growth ambitions in that segment. On an overall basis, the proposed transaction will add ~7% to the Bank’s deposit base (with ~12% increase in CASA) and ~4% increase in advances.

Axis Bank and Citibank together will ensure continuity of superior customer service levels, even post-closing of transaction, across all customer channels. Citibank’s customers will continue to avail all the rewards, privileges, and offers to which they were previously entitled. Further, Citibank’s customers will specifically benefit from Axis Bank’s wider geographical reach and comprehensive service offerings, along with One Axis capabilities that extend across all its subsidiaries. Digital Banking and the highly rated Axis Mobile app offering 250+ services will be an added advantage for customers, having immediate access to view and transact across product categories such as deposits, investments, payments and protection solutions. Moreover, the world class Citi Phone Banking will ensure service excellence for both Citibank and Axis Bank customers.

Speaking on the occasion, Amitabh Chaudhry, MD&CEO, Axis Bank said, “We are delighted with the addition of an enviable retail franchise and a high-quality talent pool as we continue our journey towards becoming a premier financial services brand, in line with our GPS strategy framework. This is a significant milestone in Axis’ journey of growth and leadership and will bring in great value for all stakeholders. The amplified scale and width of offerings, the diversified portfolio of products and global best practices will enhance customer experience, while greater synergies both on revenue and cost side will augment value for the new franchise.

We look forward to collaborating with Citi’s experienced senior leadership team and diverse talent pool, as they join Axis’ 86,000+ strong, dedicated workforce. Axis Bank already has a rich network of Citi alumni across the hierarchy, which reflects cultural alignment between the two organizations. Given the expertise that Citi employees bring to the table, we view them as a significant addition to our existing team that will help drive synergy realization and our GPS objectives. We welcome all employees to the Axis Family and together we will serve our customers ‘Dil Se’.”

Citi India CEO, Ashu Khullar said, “We are extremely pleased with this outcome for our consumer colleagues and clients. Axis Bank is committed to building its consumer banking business in India and is backed by a strong market presence. We believe Axis Bank will provide our employees an excellent environment to build their careers and shall meet all the financial needs of our consumer clients. We continue to remain committed to contributing to India’s growth and development as we deepen our presence through our institutional businesses and our community initiatives. Citi will also continue to harness India’s rich talent pool in the areas of Technology, Operations, Analytics, Finance and allied functional areas through its network of Citi Solution Centers that are located in five cities in India and support our global businesses.,”

A well outlined Integration Plan and a focused senior execution team will ensure smooth transition and seamless integration on all fronts, in collaboration with Citibank. The team comprising specialists with expertise in operationalizing large-scale integration programs will focus on Customer Service, Personnel, Systems & Technology, and other synergies.

Axis Capital and Credit Suisse acted as Financial Advisors to Axis Bank for the transaction, and Khaitan & Co acted as Legal Advisor. In addition, the Bank was supported by PricewaterhouseCoopers and Boston Consulting Group.

About Axis Bank:

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,700 domestic branches (including extension counters) and 11,060 ATMs across the country as on 31st December 2021, the network of Axis Bank spreads across 2,665 centers, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.

For further information on Axis Bank, refer to the website: https://www.axisbank.com

Manipal Academy of Higher Education To Unveil The Sixth Edition of TEDxMAHE On April 3, 2022

* The theme for this edition is 'Journey to Eureka'

Manipal Academy of Higher Education will be organizing the sixth edition of TEDxMAHE, on Sunday, 3rd of April. TEDxMAHE offers a platform to present the concept of TED - Ideas Worth Spreading. The theme for this edition is 'Journey to Eureka', which captures a sequence of events leading to that glorious epiphany where all the sacrifices make sense.

The sixth edition will be inaugurated by Honourable Pro-Chancellor of Manipal Academy of Higher Education, Dr. H.S Ballal at the Gangubai Hangal Auditorium, Manipal

This year the event will host eminent speakers from diverse walks of life. Dr. H Sudarshan Ballal, Chairman of Manipal Hospitals; Ms. Sneha Singhi Upadhaya, BBC Pastry Chef of the Year (2018); Mr. Vijay Raghav Varada, founder and CEO of Fracktal Works; Ms. Nikkiey Chawla, India’s first transgender model and actress; Srijan Deshpande- Hindustani classical vocalist, and researcher; Sneha Biswas, founder and CEO of Early Steps Academy, are the  six speakers for this edition who shall be standing on the Red Circle.

Lt. Gen. Dr. M D Venkatesh Honourable Vice-Chancellor of Manipal Academy of Higher Education said “We are extremely pleased to be hosting the sixth edition of TEDxMAHE. The university has always believed in empowering the students and encouraging every endeavour of theirs. Particularly like TEDxMAHE as such events inspire the community”

Dr. Raghu Radhakrishnan, Director of International Affairs and Collaborations at MAHE and faculty mentor of TEDxMAHE said “The entire team of TEDxMAHE has been working hard to set up the best panel for our audience. It is an experience where no compromises are made. Having the opportunity to organize it offline after 2 years makes us quite thrilled and enthusiastic. All of us are looking forward to it and hoping to provide a platform for everyone where knowledge and expertise are exchanged.”

Kashish Miglani and Vani Mittal, both third-year students from Manipal Institute of Technology are going to be the lead organizers for the event.

Hero Motocorp Launches The Sixth Edition Of Hero CoLabs - Its Crowd-Sourcing Platform Enters Its Third Year

Aligned with its Mission to “Create, Collaborate Inspire”, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced the sixth edition of Hero CoLabs, its flagship crowd-sourcing platform.

With overwhelming response from participants during the past two years, Hero CoLabs has emerged as one of the go-to platforms for students, enthusiasts and professionals to showcase their creative and technical capabilities.

Commencing the new season of Hero CoLabs, the ‘Design Challenge 3.0’ will put to test the visual and creative flair of the participants. The popular Design Challenge has seen a large number of entries in its previous two editions.

The challenge goes live from today, March 30, 2022.

The ‘Design Challenge 3.0’ is being held across two categories. Participants will have the choice of either designing graphics and livery for the Pleasure+ and Destini 125 or designing a Hero T-shirt for the Pleasure+ and Destini 125. They may choose to take part in one of the challenges or both. The challenge will be open to participants across India.

Interested individuals may visit the Hero CoLabs website (www.HeroCoLabs.com) to register and submit their entries. The deadline for entry submissions is April 24, 2022.

Post the submission of entries, Hero MotoCorp will shortlist the Top 50 designs, which will be then put up on the Hero CoLabs website for public voting. Participants will have the opportunity to share their designs on their personal social media handles to garner support. The winners will be decided basis the scoring by a team of specialists from Hero MotoCorp and the results of the public poll.

The Grand prize of the challenge will be a brand-new Pleasure+ or Destini 125 scooter, as per the winner’s choice. The first and second runners-up will receive Amazon Pay vouchers worth Rs. 20,000 and Rs. 10,000 respectively. Both challenges will have separate winners.

Commenting on the initiative, Malo Le Masson, Head – Strategy, Hero MotoCorp, said, “Hero CoLabs has proven to be an excellent platform for anyone who needs an avenue to showcase their skill and passion. In just two years, Hero CoLabs has been able to crowd-source solutions and innovations from design, to UX in mobile applications, to retail experience. To keep on testing our audiences’ creativity and further expand the platform, we are launching the ‘Design Challenge 3.0’, which embodies the spirit of creativity, innovation and collaboration, and presents a unique opportunity for people to collaborate and create with the world’s largest manufacturer of motorcycles and scooters.”

The names of the winners and runners-up will be announced on the Hero CoLabs website and Hero MotoCorp social media platforms.

Renaut Introduces The Kiger MY22 Across Indian Market

 * Smart interiors enhanced with comfort features like Cruise Control and Wireless Smartphone charger 

* Stunning exterior additions - Front Skid Plate, Tailgate Chrome and a New Colour - Metal Mustard with Mystery Black Roof in Dual Tone 

* Enhanced Sporty quotient with TURBO Door Decal, Red Wheel Caps on the exterior and Red Fade Dashboard Accent and Red Stitch in the interior 

* Introduces 1.0L Turbo in both Manual & CVT transmissions in the RXT(O) variant 

* Renault KIGER already features 4-Star Safety Rating for Adult Occupant Safety by Global NCAP and is also among Top 2 in the J.D. Power 2021 India Initial Quality Study (IQS) in the Compact SUV Segment 

Renault, the number one European brand in India, introduces the new KIGER MY22 with advanced features, at a starting price of INR 5.84 Lakhs. Embodying Sporty, Smart and Stunning attributes, the KIGER has been instrumental in driving India among Renault’s top five global markets. 

An outcome of a collaboration between the design teams in France and India, Renault KIGER continues to garner great response from the customers. It is the third global car to be launched in India first, before it is taken globally. Renault KIGER brings latest tech features to the CMFA+ platform that offers class leading features like Multi-Sense Driving Modes, great roominess, cabin storage and cargo space along with the right balance of performance and efficiency. 

Available in two engine options 1.0L Energy Engine in MT & EASY-R AMT transmissions and 1.0L Turbo in MT & X-TRONIC CVT transmissions, the KIGER MY22 will offer PM2.5 Advanced Atmospheric Filter as a standard feature across the range, ensuring good air quality inside the cabin. The new Interior colour harmony featuring New Red Fade Dashboard Accent and Quilted Emboss Seat Upholstery adorned with Red stitch, adds to the sportiness of the car. Further enhancing theingoverall driving experience and comfort, the Wireless Smartphone Charge and Cruise Control functions have been added along with a new colour option - Metal Mustard with Mystery Black roof in Dual Tone. The Renault KIGER MY22 Turbo range will feature New Tailgate Chrome Insert, Front Skid Plate, TURBO Door Decals along with 40.64 cm Diamond Cut Alloy Wheels with Red Wheel Caps, making the exteriors more stunning and sporty. 

The KIGER RXT(O) variant, launched last year as part of Renault’s 10th Anniversary Celebrations in India, will be offered in 1.0L Turbo in MT & X-TRONIC CVT transmission as well at an attractive price point. The bookings of all-new KIGER MY22 range will commence from today, March 31, 2022. 

Renault KIGER is compliant with all the current safety requirements for the Indian market and even goes beyond to protect both passengers and pedestrians. Recently, the Renault KIGER has been awarded with the 4-Star Safety Rating for Adult occupant safety by Global NCAP, the foremost global car assessment programme. For driver & front passenger safety, the Renault KIGER comes equipped with four airbags – front and side along with seatbelts with pre-tensioner and load-limiter (for driver occupant). It also hosts a range of safety features such as ABS with EBD and rear parking sensors, which ensure safety while driving on the road. Additionally, KIGER also features an impact sensing door unlock, speed sending door lock, 60/40 split rear row seat with adjustable headrests and ISOFIX anchorage for child seat. 

Additionally, Renault KIGER was Ranked 2 in the J.D. Power 2021 India Initial Quality Study (IQS) in the Compact SUV Segment, reflecting Renault’s committment towards delivering top quality products to its customers. Renault KIGER has been recognized with multiple awards in the compact SUV category, highlighting its success in the Indian market. 

Powered by a world-class turbocharged 1.0L petrol engine, the KIGER not only offers more performance and a sporty drive, but alsoboasts best in segment fuel efficiency of 20.5 KM/L*. Following its successful global launch in early 2021 in India, Renault India began the exports of KIGER to Nepal, South Africa, Indonesia where it has already received an overwhelming response since its launch.  

* (5-speed Manual)  

Samsung, Western Digital Begin Far-Reaching Collaboration To Drive Standardization Of Next-Generation Storage Technologies

* Companies to first lead standardization of Zoned Storage technology;

* Cooperative efforts include developing and promoting hardware specifications and software application models to build a robust ecosystem

Samsung Electronics Co., Ltd. and Western Digital (Nasdaq: WDC) today announced that they have signed a memorandum of understanding (MOU) for a unique collaboration to standardize and drive broad adoption of next-generation data placement, processing and fabrics (D2PF) storage technologies. The companies will initially focus on aligning their efforts and creating a vigorous ecosystem for Zoned Storage solutions. These steps will enable the industry to focus on countless applications that ultimately create greater value for customers.

This marks the first time that both Samsung and Western Digital have come together as technology leaders to create widespread alignment and stimulate awareness for important storage technologies. Focusing on enterprise and cloud applications, the partnership is expected to spur a range of collaborations around technology standardization and software development for D2PF technologies like Zoned Storage. With this collaboration, end-users can have confidence that these emerging storage technologies will have support from multiple device vendors as well as from vertically integrated hardware and software companies.

“Storage is the essential foundation for how people and businesses consume and use data. To enable today’s needs and tomorrow’s next big ideas, we must innovate, collaborate and keep pace as an industry in bringing new standards and architectures to life,” said Rob Soderbery, EVP and GM, Flash Business Unit at Western Digital. “In order for a technology ecosystem to be successful, overall frameworks and general solution models must come together so they do not suffer from fragmentation, which delays adoption and adds unnecessary complexity for software stack developers.”

Soderbery added, “For years Western Digital has been laying the foundation for the Zoned Storage ecosystem by contributing to the Linux kernel and open-source software community. We are excited to bring these contributions to this joint initiative with Samsung in facilitating wider adoption of Zoned Storage for users and application developers.”

“This collaboration is a testament to our relentless effort to exceed customers’ needs now and in the future, and holds special meaning in how we anticipate it will actively grow into a larger basis of engagement for Zoned Storage standardization,” said Jinman Han, Corporate EVP, Head of Memory Sales & Marketing at Samsung Electronics. “Our collaborative efforts will embrace hardware and software ecosystems to ensure that as many customers as possible can reap the benefits of this highly important technology."

The two companies have already kickstarted an initiative around Zoned Storage devices, including ZNS (Zoned Namespaces) SSDs and SMR (Shingled Magnetic Recording) HDDs. Through organizations such as SNIA (Storage Networking Industry Association) and the Linux Foundation, Samsung and Western Digital will define high-level models and frameworks for next-generation Zoned Storage technologies. With a commitment to enable open and scalable data center architectures, they have founded the Zoned Storage TWG (Technical Work Group), which was approved by SNIA in December 2021. The group is already defining and specifying common use cases for Zoned Storage devices, as well as host/device architecture and programming models.

In addition, this collaboration is expected to serve as a starting point to expand zone-based (e.g. ZNS, SMR) device interfaces, as well as future-generation, high-capacity storage devices with enhanced data placement and processing technologies. At a later stage, these initiatives will be expanded to include other emerging D2PF technologies such as computational storage and storage fabrics including NVMe™ over Fabrics (NVMe-oF).

Epson Conducts Raids Of Counterfeit Ink And Ribbon Cartridge Manufacturing Units In Mumbai And Chennai

* 2,168 no. of counterfeit bottles and 64 no. of ribbon cartridges were seized by police during the raids.

In an effort to curb the sale of counterfeit ink bottles and ribbon cartridges and to protect the rights of its customers, Epson has recently increased its vigilance with regard to the manufacture and sale of counterfeit Epson Ink bottles and Ribbon Cartridges. Based on the Epson vigilance team’s information, the police, in a swift and well-coordinated action, recently raided the premises of Retailers and Manufacturers of Counter Ink Bottles at West Bhandup (Mumbai), Chinthadripet (Chennai) and Sewree (Mumbai). These retailers and manufacturers were involved in the manufacture and supply of counterfeit Epson Ink bottles and ribbon cartridges in Mumbai, Chennai and surrounding areas. The manufacturers of the Epson counterfeit Ink bottles and ribbon cartridges were arrested and charged under the prevailing laws of the land with counterfeiting and violating intellectual property rights and subsequently remanded to judicial custody. Large quantities of finished and unfinished cartridges, packaging materials, and numerous sets of labels and holograms have been seized. The seized materials are worth more than 2 million rupees.

A spokesperson at Seiko Epson Corporation said, “We acknowledge and applaud the effort of the police in Mumbai and Chennai to curb this menace. We will actively assist and support the law enforcement authorities in such crack downs.” He went on to say, “Epson takes great care to observe the law and regulations, and to maintain high standards of corporate ethics while at the same time expecting others to show appropriate respect for its rights. We will continue vigorous enforcement of our intellectual property rights to protect our innovative products against those who use Epson's patented technology, trademarks, and other intellectual property without permission.”

Seiko Epson Corporation says it will continue to protect its interests and to protect the business of its authorized dealers in the future through such raids.

About Epson

Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson will become carbon negative and eliminate the use of exhaustible underground resources such as oil and metal by 2050.

Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of around JPY 1 trillion. https://global.epson.com/

FarMart Raises $32M (INR 244 Cr) Series B Led By General Catalyst To Scale Its SaaS-Led Food Supply Platform

FarMart, India’s first SaaS-led food supply platform, secures a $32M Series B round led by General Catalyst, with participation from existing investors, Matrix Partners India and Omidyar Network India. Elluminate Capital acted as the exclusive financial advisor to FarMart on the transaction. This new infusion of funds will fuel the growth of FarMart’s digital distribution network across India and to export markets. The company also plans to make key investments into R&D, automation and technology.

This announcement comes just 6 months after FarMart’s $10M Series A in October 2021 and brings the total capital raised to $48M (INR 366 crores). Since then, FarMart has established itself as the top agri-retailer SaaS tool in the country - with 60,000 retailers serving 2 million farmers through its mobile app. The company has also scaled its output linkage offering, distributed via its app users, to over 600 districts in India, with 75,000 metric tonnes of high-quality produce sourced till now across 15+ commodities.

FarMart’s success lies in their ability to use tech and data to source at scale and use underutilized assets in the food value chain to build a high growth and contribution margin profitable business. By digitizing and incentivizing the rural agri-retailer, FarMart has created a one-stop-hub for farmers to buy input and sell output in close proximity to their farms. This alternative, asset-light, food value chain eliminates the multiple transportation costs, spillages, and time effort involved for both the producer and the end-buyer.

“We have built a retailer-centric solution at the intersection of data, hyperlocal serviceability and underutilized assets. The entire team is driven by the ambition and opportunity to build India’s largest food supply platform. I would like to thank General Catalyst and our existing investors for providing us with the thrust to achieve our ambition of building the world’s first OS that powers food value chains.” says Alekh Sanghera, CEO and Cofounder, FarMart

“Farmers have to travel 25-30 kilometers to access a formal marketplace. Leveraging the proximity, social capital and infrastructure of these agri-retailers, we are able to source directly from farmers in a capital efficient and non-linear manner. Removing excessive intermediaries helps in providing better prices to farmers, reduces direct cost and reduces spillages/wastage up to 10-15%”, explains Mehtab Singh Hans, Cofounder, FarMart

“Since we first met Alekh, Mehtab, and the FarMart team we knew they had a unique distribution approach to building India's largest food sourcing SaaS platform. The fast-growing B2B platform activates critical connections between farmers and agri-retailers, enabling millions of farmers to supply fresh produce to consumers all over India, creating powerful, positive change for these stakeholders. We are honored and excited to be a partner in the FarMart journey," said Deep Nishar, Managing Director, General Catalyst (lead investor)

“FarMart’s SaaS-led approach has transformed the way in which farmers and agri-input retailers carry out their business. The business model innovation combined with Alekh & Mehtab’s on-ground execution has enabled FarMart to grow rapidly over the last 12 months while being profitable at the contribution margin level. We are super excited to continue to deepen our relationship with FarMart and welcome General Catalyst to the partnership,” said Sudipto Sannigrahi, Principal, Matrix India

“FarMart is revolutionizing the agri-tech ecosystem by enabling agri-retailers to serve farmers better and improve farmer income by providing access to information, advisory, and market linkages. Their ability to scale rapidly using technology while being capital efficient is unique and we are excited to see the key role they play in building a transparent and financially rewarding value chain for farmers and the Next Half Billion." says Siddharth Nautiyal, Partner, Omidyar Network India.

About FarMart:

FarMart enables agri-retailers to serve their farmers better and provide them with market access by building an alternative food value chain that is transparent and financially rewarding for both farmers and businesses. It is building the world’s first Operating System powering food value chains to connect Indian farmers to billions across the globe.

About General Catalyst:

General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society.  We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker. For more: www.generalcatalyst.com.

About Matrix Partners:

Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several category-leading B2B companies such as OfBusiness (B2B Commerce, fintech), Captain Fresh (a tech-enabled B2B animal protein marketplace), LoadShare (tech-enabled logistics network),  Bijnis (B2B fashion & footwear marketplace), Vegrow (B2B marketplace for fruits), and Saveo (B2B e-commerce marketplace for pharmacies).

Other marquee investments include Ola (mobility), Dailyhunt (mobile local language platform), Razorpay (payments), Five Star Business Finance (SME lending), Ola Electric (electric vehicles), Stanza Living (tech-enabled student housing platform), OneCard (mobile-first credit card), DealShare (social commerce platform), Country Delight (D2C dairy & fresh foods brand), Mswipe (mobile POS), GoKwik (e-commerce enablement platform), and Zupee (leading skill-based gaming app) among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.

About Omidyar Network India:

Omidyar Network India invests in bold entrepreneurs who help create a meaningful life for every Indian, especially the hundreds of millions of Indians in low-income and lower-middle-income populations, ranging from the poorest among us to the existing middle class. To drive empowerment and social impact at scale, we work with entrepreneurs in the private, nonprofit, and public sectors, who are tackling India’s hardest and most chronic problems.

We make equity investments in early-stage enterprises and provide grants to nonprofits in the areas of Digital Society, Education, Emerging Tech, Financial Inclusion, Governance and Citizen Engagement, and Property Rights. Omidyar Network India is part of The Omidyar Group, a diverse collection of companies, organizations, and initiatives, supported by philanthropists Pam and Pierre Omidyar, founder of eBay.