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<ul><li>In recent years, Bhumi has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. </li><li>Acknowledging her efforts, the UNDP named her as India's first National Advocate for Sustainable Development Goals (SDGs).</li><li>In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety and her take on the climate action.</li></ul> Lights, camera, Earth! When we first saw Bhumi Pednekar in Dum Laga Ke Haisha in 2015, we witnessed her impressive acting skills and her ability to connect with the audience. With time, she grew into a formidable presence on the Indian cinema landscape, paving the way for socially-aware, yet entertaining filmography. In recent years, this Bollywood superstar has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. In a world where the spotlight often blinds stars to the sufferings of the planet and its people, Bhumi reminds us that every person on this planet needs to keep that spark for eco-consciousness alive. In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety during her early years, her efforts to strike a balance between her professional career and environmental responsibilities, her advice for the younger audience, and her take on the climate action across the globe. <a href="https://www.youtube.com/watch?v=QDxplE0_Os4" data-type="tilCustomLink">Catch the full interview here!</a> <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109502773" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “When I started my climate journey, it was a very lonely path for me, Every time I spoke about it, people made fun of me. Eventually, through the years, I met like-minded people, and I realised that this is a real problem. Even today, I get really worried, I have bouts of anxiety and go into a spiral that you know, what will happen now and so on. In such times, what truly helps me is to actually do something towards dealing with the problem,” says Bhumi. Acknowledging her efforts to spread awareness on these critical topics, the United Nations Development Programme (UNDP) named her as India's first National Advocate for Sustainable Development Goals (SDGs). Just last month, the World Economic Forum (WEF) recognised her as a Young Global Leader (YGL). On Earth Day 2024, she also joined UNDP’s global initiative called the ‘The Weather Kids’ — a global campaign to raise awareness about climate change and drive the world towards taking meaningful climate action. Talking about the campaign Bhumi Pednekar stated, "I’m deeply disturbed by Climate Change and the impact that it is having the world over. I have dedicated my life to working on this and helping raise awareness… I have always been committed to using my platform to raise awareness about the urgency of climate action and to empower individuals and communities to adopt sustainable practices. Together, we can make a difference and create a more sustainable and resilient world for future generations.” Further, Bhumi’s role as a climate warrior has also seen her collaborating with activists and institutions nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and climate action. As an ardent advocate for environmental and climate action, she has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices. <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109503174" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div> “Climate Warrior, which is our nonprofit, is an advocacy platform I started in 2019. The idea was to bring all the work of creating awareness under one umbrella. And then we started the Bhumi Foundation, through which we are again just trying to streamline everything that we do, we have not opened it up for others to come in and work,” said Bhumi, encouraging younger generations to also find their own tribe to influence and drive change. The theme for today’s World Earth Day 2024 is Planet Vs Plastic, and it is time for all of us to gauge our individual and collective impact on our environment and try to reduce it. “One big thing that we can do is to look for and support businesses that are trying to go green and create a positive impact on our planet. If investors support such businesses, and consumers pick such products, our carbon footprint can be lesser,” explains Bhumi. “Every day is Earth Day. This is our only home, there is no alternative, and there is no plan B! The way we show empathy and sympathy towards our loved ones, we should show empathy towards everybody else that we share this planet with. It really breaks my heart when you see on the news that a major city like Bangalore is still witnessing a water crisis and our capital city Delhi has winter days where schools are canceled because of the pollution. We are all in this together, we all are a part of the problem. And we all need to be a part of the solution as well,” concludes Bhumi. Disclaimer: The opinions expressed are of the interviewee and do not necessarily reflect the views of Business Insider India. The excerpts has been partly edited for length and clarity. <meta content="cms.next" name="cmsei" />

Earth Day 2024: Actress Bhumi talks about 'Pednekar ke ped', ostrich mentality, climate anxiety and more

<ul><li>The definition of diversity from a people perspective itself is becoming about race, colour, language, culture, sexual orientation, location and many other demographic factors. However, I believe that this is the next stage and is clearly a sequential evolution.</li><li>The positive development is that we are all at least speaking about bias: conscious and unconscious and about the importance of gender diversity. It is becoming politically and socially incorrect to not have a diversity &amp; inclusivity policy.</li><li>Most importantly, leadership by example sends a powerful message on the value of mentoring, coaching and embracing the value of diversity.</li></ul>The word diversity strikes a whole different chord in every individual. Diversity to me is gender diversity when I think from my gut, diversity of viewpoints when I think from my head and diversity of portfolio when I think from a financial perspective!! Diversity of portfolio in the world of financial services is well understood and hardly any debate required. Diversity of viewpoints, and thereby, diversity of people and what constitutes diversity is still a very debated perspective. The definition of diversity from a people perspective itself is becoming about race, colour, language, culture, sexual orientation, location and many other demographic factors. However, I believe that this is the next stage and is clearly a sequential evolution. The first stage of diversity, which cuts across all of these ethnic and demographic parameters is gender. And in India, we are miles away from diversity across multiple parameters when we have yet to find scalable, sustainable solutions to gender diversity, the most basic diversity of them all! The fact that diversity and inclusion are key business imperatives is now well established.In May 2019, the subcommittee on diversity and inclusion convened a hearing entitled “Good for the Bottom Line: A Review of the Business Case for Diversity,” at which a panel of experts emphasized that inclusive organizations are more productive and profitable. Numerous studies have validated the benefits of diversity and inclusion within an organization. <div type="image" title="According to a recent PwC Global survey, 85% of financial services CEOs polled said promoting inclusion and diversity helps enhance business performance." msid="94679966" hostid="261" caption="&amp;lt;p&amp;gt;According to a recent PwC Global survey, 85% of financial services CEOs polled said promoting inclusion and diversity helps enhance business performance. &amp;lt;/p&amp;gt;"></div> The positive development is that we are all at least speaking about bias: conscious and unconscious and about the importance of gender diversity. It is becoming politically and socially incorrect to not have a diversity &amp; inclusivity policy. Biased and prejudiced remarks, comments, jokes are no longer accepted as the norm. All of this progress is visible, at least in the corporate world of financial services. Many women have had to fight and prove their mettle for these barriers to become less rigid. Having said which, it is still a very fragile space that needs to be constantly defended and guarded. It is still a space where one incompetent/dishonest woman will be used to tarnish the entire community of women professionals, unlike the male community, where one incompetent/dishonest man will be judged for himself in isolation. Women still have to bear the mantle of responsibility for the entire womankind, because the numbers are not large enough and the law of averages and percentages will work against them. The fallacy of data and the biases it strengthens are obvious, when there is inadequate data, that doesn’t constitute representative sample. I have heard many women challenge my opinion on women having to take more responsibility for the cause of gender diversity and inclusions. Unfortunately, this is the reality with most minorities. While it is indisputable that the majority has the responsibility to make the culture more inclusive; in order for them to do so, the minority will have to create and strengthen the case for inclusion. Else, it is easy for the majority to keep the status quo (things have been working well so far), feel insecure and threatened (guard their turf ) rather than see the benefit of bringing on diversity. <div type="image" title="In conclusion, diversity is a leadership priority, spanning across the organization, not just an HR responsibility." msid="94679223" hostid="261" caption="&amp;lt;p&amp;gt;In conclusion, diversity is a leadership priority, spanning across the organization, not just an HR responsibility. &amp;lt;/p&amp;gt;"></div> This includes constantly evaluating traditional career paths or leadership programmes to ensure they are equitable and relevant to evolving business needs.Most importantly, leadership by example sends a powerful message on the value of mentoring, coaching and embracing the value of diversity. <meta content="cms.next" name="cmsei" />

Diversity in the world of financial services

<ul><li>MSME sector is estimated to grow at 15%-17% this year.</li><li>Almost every type and size of industry took a hit during the pandemic; MSMEs, however, were affected the most.</li><li>A recent report by RBI pegged the credit gap in the segment to be a staggering INR 20-25 trillion.</li></ul>Today Micro, Small, and Medium Enterprises (MSME) sector contribute over 27% ( more than INR 39 trillion ) of India's GDP making them vital to our nation's economy. This is further estimated to grow at 15%-17% this year. With more than 60 million MSMEs in the country, accounting for significant formal and informal employment, they have been an essential source for innovation and job creation. Almost every type and size of industry took a hit during the pandemic; MSMEs, however, were affected the most because they lacked the necessary and sufficient resources to remain steady during the most challenging times. The competition with the larger firms has also stiffened due to the time it is taking to recover. Touted as the economic growth drivers, MSMEs do have access to formal credit, but there remains a gap in how effective it is. <div type="image" title="A recent report by RBI pegged the credit gap in the segment to be a staggering INR 20-25 trillion." msid="93451540" hostid="261" caption="&amp;lt;p&amp;gt;A recent report by RBI pegged the credit gap in the segment to be a staggering INR 20-25 trillion.&amp;lt;/p&amp;gt;"></div> With credit demand now exceeding the pre-pandemic levels, the need for a robust ecosystem to fill the gap is of prime importance. Additionally, with the government impetus and focus on the segment, there is no doubt that this is a problem worth solving. Alongside the government support, private sector financing options for MSMEs can come from Equity financing, Debt financing or venture capital debt. Given the holding structures of most MSMEs, the preference remains for debt financing and here is where the Financial Institutions ought to play the most crucial role. That said, this segment's distinct characteristics have hindered lending Institutions from fully capitalizing on the opportunity. Most businesses are seasonal and have uneven cashflows, making income assessment a challenge which is a key parameter for credit appraisal. A fast-changing competitive landscape can outpace the segment, adding to the risk for the lenders. <div type="image" title="A systemic relook at the segment for understanding the nuances and developing products and offerings that best cater to the borrower&amp;#39;s needs and suit the lender&amp;#39;s risk management framework is the need of the hour." msid="93451567" hostid="261" caption="&amp;lt;p&amp;gt;A systemic relook at the segment for understanding the nuances and developing products and offerings that best cater to the borrower&amp;#39;s needs and suit the lender&amp;#39;s risk management framework is the need of the hour.&amp;lt;/p&amp;gt;"></div> Traditionally, the loans have always been repaid in equal monthly instalments. Offerings that allow flexibility for bespoke, start-low, quarterly repayments etc. will complement the borrower's seasonality and uneven cash flow problem and still allow room for business growth. Quicker data-driven decisions, nuanced income assessments, and digital delivery of lending products will address the credit gap in a much more personalized manner. Given their significance to the GDP, MSMEs can make use of a more efficient credit ecosystem. With green shoots of economy visible, the time is opportune for lending institutions to rejuvenate the sluggish monetary ecosystem of MSMEs. <meta content="cms.next" name="cmsei" />

Financial Institutions Turning Towards MSME Lending

<ul><li>India has the ability to bring out its best in adversity.</li><li>The government’s ‘Make in India’ programme is showing results.</li><li>India is at 63 in terms of ‘ease of doing business’ as of 2021, a sharp movement from the 142nd place in 2014.</li><li>India’s forex reserves have also moved up over these seven years.</li></ul>Indian markets have witnessed persistent FPI selling since Oct 21. Higher oil prices are Rahu and Ketu in India’s kundli having adverse effects on GDP, Inflation and Current Account Deficit. Ukraine invasion and sanctions on Russia have pushed oil prices in triple digits adversely affecting India. Inflationary pressures are visible with the RBI revising inflation estimates upwards for FY23 by ~2 % in the last two policies to 6.7 %. FY23 inflation will be above the RBI’s upper target level. <div type="image" title="The troika of slowing growth, rising inflation and FPI selloff is creating concerns among both local and global investors." msid="92676486" hostid="261" caption="&amp;lt;p&amp;gt;The troika of slowing growth, rising inflation and FPI selloff is creating concerns among both local and global investors.&amp;lt;/p&amp;gt;"></div> Motivated campaign against Índia for its import of Russian oil is adding to investor concerns. In such an uncertain scenario what makes me bullish about Índia is its ability to bring out the best in adversity. We transitioned from importing milk and milk products; to become the largest producer of milk. We transitioned from being dependent on donation of food grains to exporting food grains. We transitioned from pledging gold to borrow FX loans to top 5 holders of FX reserves in the world. Adversity has always brought the best out of us. Does the current correction in equity markets, the selling by FIIs or deteriorating macro-economic metrics take away the progress that has been made in the last few years? No. It is, therefore, important that investors focus beyond these uncertainties which undoubtedly is going to be painful. Let’s discuss a few of these metrics. In 2014, India was the world’s tenth-largest economy. <div type="image" title="A series of reforms, including the introduction of the Goods and Services Tax or GST, has seen the country rise to be the world’s sixth-largest economy as of 2021" msid="92676560" hostid="261" caption="&amp;lt;p&amp;gt;A series of reforms, including the introduction of the Goods and Services Tax or GST, has seen the country rise to be the world&amp;#8217;s sixth-largest economy as of 2021&amp;lt;/p&amp;gt;"></div> With its share in global GDP rising by 23% to 3.2%. In FY22 we will overtake our former colonial occupier to be the fifth largest economy. A lot of this has also come due to India’s heft in production, with the government’s ‘Make in India’ programme showing results. From being the world’s fourth-largest producer of steel in 2014, India is second only to China as of 2021, which alone manufactures more than half of the total steel produced in the world. India was also the world’s second-largest producer of mobile phones as of 2021, a sharp improvement from being the world’s twelfth largest producer in 2014. Notwithstanding the recent slowdown in demand in the automobile space over the last two-three years, India is the fourth largest manufacturer of automobiles by volume in the world as of 2021. This is an improvement from it being the seventh largest producer in 2014. These improvements reflect in other parameters as well. <div type="image" title="India is at the 63th rank in terms of ‘ease of doing business’ as of 2021, a sharp up move from being at the 142nd place in 2014." msid="92595550" hostid="261" caption="&amp;lt;p&amp;gt;India is at the 63th rank in terms of &amp;#8216;ease of doing business&amp;#8217; as of 2021, a sharp up move from being at the 142nd place in 2014.&amp;lt;/p&amp;gt;"></div> Equity markets have reflected this buoyancy, supported by both domestic and foreign investors. India accounted for 6.7% of global FDI inflows in 2021, more than three times the 2.1% that it got in 2021. India’s forex reserves have also moved up over these seven years, while targeting inflation has helped it come down to moderate levels from high levels seen earlier. The country has seen an influx of capital through venture capital and private equity, which has also spurred growth in the start-up economy in the country. India recently got its 100th unicorn, a massive 25X rise from the four unicorns that it had in 2014. An impetus on creating and building infrastructure, especially in the roads, power, ports, airports and power segment has also helped India move from a state of being deficit in infrastructure to that of availability of infrastructure. India is leaving behind the physical way of doing things, opting to go with the digital ecosystem in a remarkable way, with the Unified Payments Interface a significant example of such changes. Another significant shift that the country has seen over these years is the change in mindset for business activities. The government has moved to a psyche of not being involved in the running of businesses, a refreshing change from the earlier practice of being in business.Improvements in tax compliance have also helped the country move sustainably to moderate fiscal deficit, from a high fiscal deficit earlier. Undoubtedly in the short term there are challenges for the Indian economy emanating from higher energy prices. In the long term Índia having moderate inflation, surplus FX reserves and fiscally prudent policies will be in a better position to reward investors. There are, of course, more facets to this growth story. As investors, it is important that you can look beyond the short-term volatility and understand whether these factors are actual roadblocks for the country’s growth story in the long term. To make the most of it, it is important to remain focused as well as disciplined. So dear readers, happy investing! <meta content="cms.next" name="cmsei" />

India’s FX reserves and fiscal policies will lead the India growth story