They say old is gold, and Twitter agrees, at least when it comes to devices. here is a 66 year old refrigerator, which has pull-out shelves so you can grab things in the back without removing those in the front. Cool and practical, huh? But do not worry. Today’s refrigerators have Wi-Fi…
Meanwhile, Microsoft is making a social media debut, though some may say it’s delayed. Last week, it announced a new Viva Engage platform, which is integrated with its Teams app, suggesting the company wants to pitch it as a social networking platform for work.
Not only does Viva have a multimedia news feed, but also a Stories feature. It remains to be seen whether Microsoft’s new offer will be able to differentiate it from its competitors Zoom, Google Meet and others.
The future of the BNPL
BNPL (buy now, pay later), often touted as the first step to get Indian users to buy credit products, is under a cloud of misinformation.
Following the Reserve Bank of India’s notification in June on prepaid payment instruments, many BNPL operators were forced to rethink their business models. Your story examines what’s behind the headlines, the industry’s thoughts around the circular, and the options they’re considering to comply with the RBI.
Focus on the T&Cs:
- The Indian BNPL market grew by 321% CAGR (compound annual growth rate) in FY19-21 and the average note size grew 24x between FY19-21.
- PayU-owned LazyPay, KreditBee, EarlySalary and Jupiter have temporarily suspended their BNPL offerings following the RBI circular. LazyPay could switch from a prepaid card to a credit card, said a source who requested anonymity Your story.
- The RBI is expected to issue detailed guidance on BNPL regulation anytime this week, according to a central bank source.
“The RBI has no problem if a company offers a line of credit and does not charge interest for three months; he would probably appreciate it, because, as a regulator, he always has the best interests of the “little guy” in mind. The problem arises when you take a product that exists, add bells and whistles and give it a new name,” said the chief risk officer of a fintech startup. Your story.
Start at 80
It’s never too late to start an entrepreneurial adventure. RK and Shakuntala Devi Choudhary, an octogenarian couple, launched Avimee Herbal from their home in Surat in 2021 to solve their daughter’s hair loss problem. The brand achieved sales of ~Rs 13 crore till July.
Herbal Avimeewhich started with just one hair oil, now has 17 SKUs in its kitty, including skin care, beard care, and other hair care products.
The brand’s Keshpallav hair oil is its best-selling product. Additionally, its Hair Tone PV1 Scalp Spray and Ortho CP Pain Relief Oil are also popular with customers.
A new start:
- Avimee Herbal has set up a 7,500 square foot manufacturing facility in Surat where all products are produced in-house with raw materials sourced from across the country.
- The brand has its products tested in a laboratory in Roorkee. Chief Executive Siddhant Agarwal said that in August an in-house laboratory unit would be set up which would reduce the turnaround time.
- By the end of the year, the company should have 50 employees. He is also hiring a chemist to formulate skincare products and plans to expand into child and pet care soon.
Preparing Punjab for the future
Although Punjabi entrepreneurs have established Indian businesses with a net worth of over $50 billion and foreign businesses with a net worth of over $100 billion, the state itself has largely missed the mark. technological wave.
A catalytic organization, Innovation Mission to Punjabdecided to change that.
IMPunjab aims to support entrepreneurs in Punjab with resources, training, networking opportunities, and virtual and physical engagements.
Join the technical train:
- The government has appointed Pramod Bhasin (founder of Genpact, Clix Capital and Asha Impact) to chair IMPunjab in 2020.
- Built as a public-private partnership, IMPunjab is collaborative in nature.
- The aim of the organization is to reach a working population of 14 million, 30 universities, 1000 colleges and 8 lakh students based in Punjab.
“After the boom in agriculture and industry, Punjab has missed out on the current economic wave i.e. technology and startups. This has not resulted in investment and employment in Punjab. The founders of Zomato, Ola, Blinkit and Flipkart are all Punjabis but migrated to places with developed startup ecosystems due to a lack of opportunities in Punjab,” Pramod said. Your story.