23 June 2024

Business Today

For Managing Tomorrow

Business Today2 min read
D-Street Big Boys’ Start-up Rush
The conversation around start-ups for most of the past couple of years has been about the funding winter and how venture capitalists have become obsessed with seeing a path to profitability before investing. But quietly, another trend is building up
Business Today2 min read
Business Today
Chairman & Editor-in-Chief: Aroon Purie Vice Chairperson & Executive Editor-in-Chief: Kalli Purie Group Chief Executive Officer: Dinesh Bhatia Executive Director: Rahul Kanwal Chief Operating Officer: Alok Nair Editor: Sourav Majumdar Group Creative
Business Today1 min read
At Your Service
BARBERS EMPLOYED AT A SMALL SHOP IN FARIDABAD, HARYANA SOURCE: CMIE ECONOMIC OUTLOOK Growth in services sector jobs; the total workforce stands at 164.5 million vs 148.5 million in FY23 Jobs created in personal nonprofessional services (barbers, carp
Business Today1 min read
Primary Bet
INDIA INC. RAISED MORE THAN ₹4 LAKH CRORE IN THE PAST 10 YEARS THROUGH THE PRIMARY MARKET *TILL APRIL 2024 SOURCE PRIMEDATABASE.COM THE OVERALL VALUE OF PUBLIC EQUITY FUNDRAISING, INCLUDING FROM FPOs, OFS AND OTHER AVENUES IN FY24, UP 142% FROM FY23,
Business Today3 min read
Inspiring Young Women Leaders
Aradhana Galgotia, the young and brilliant scion of the Galgotia family. A blend of intellect and charm she inspires the new generation of learners. A passionate Advocate and a Transformative educator she advocates learning as a lifelong experience a
Business Today3 min read
Continuity With Change
FOUR YEARS AFTER the shock of the Covid-19 pandemic, the economy seems to be in reasonably good shape. The gross domestic product (GDP) grew at 8.2% in financial year 2023–24 (FY24), which was the third straight year of more than 7% growth. Tax colle
Business Today3 min read
Result And Repercussions
D-STREET WITNESSED a rollercoaster ride on June 3 and 4. First, the markets tasted a huge high after exit polls predicted a decisive majority for the Bharatiya Janata Party (BJP) and its coalition, the National Democratic Alliance (NDA), in the Gener
Business Today3 min read
Small Surge
THERE HAS BEEN a surge in initial public offerings (IPOs) from small and medium-sized enterprises (SMEs) in recent years. More than 90 SME firms have already gone public in the first five months of 2024. In fact, FY24 saw a record 204 SME public issu
Business Today1 min read
Reducing The Froth
A record 204 SME IPOs were launched in FY24 The Sebi is considering bringing in rules to put a check on ‘flyby-night’ operators One way to do this, experts suggest, could be to put in place a lock-in period of three to six months for IPO applicants B
Business Today3 min read
Silver ETFs Shining On
SILVER IS POSSIBLY the most sought-after metal in the market right now. It is trading between ₹91,000-95,000 per kg. In fact, it has outperformed both gold and the BSE Sensex in May. This surge can be attributed to several factors, including the ripp
Business Today2 min read
Shifting Gears In Logistics Towards Sustainability
These strategic moves, in conjunction with the 'Make in India' campaign, have catalyzed the growth of third-party logistics (3PL) providers, supply chain optimization, and the burgeoning e-commerce sector, propelling the logistics industry forward. H
Business Today3 min read
Becquer Energy Harnesses Solar Power For India
The founders of Becquer Energy, are on a daring mission to harness and catapult solar power to the forefront as the planet's premier and most cost-effective power source for supporting sustainability. India serves as a dynamic partner for the team to
Business Today3 min read
A Versatile Man, Mentor, Visionary Leader
I JOINED ICICI in 1975 in the legal department. In 1985, when S. S. Nadkarni, the Chairman of ICICI, became the Chairman of IDBI, there was much speculation about his successor. The announcement of Narayanan Vaghul as the new Chairman was met with ke
Business Today4 min read
“Looking At Using AI To Make Members Future-proof”
IN THE face of new requirements and technology, including the focus on sustainability reporting and the advent of AI, the Institute of Chartered Accountants of India (ICAI) is working on new courses to make chartered accountants future proof. In an i
Business Today3 min read
Urgent Action Needed on Climate Change
Over the last few months, we have already seen extreme weather playing out across the country. Cyclone Remal left the Northeast battered in May and intense heat waves with temperatures soaring to 52 degrees were recorded in parts of the country a few
Business Today11 min read
D-street angels
THE NEXT TIME you look at the stock market ticker and wonder which bull or bear is moving the Street, know that quite a few big-time investors also hunt in the multiverse. They are betting on the parallel world of yet-to-be-listed start-ups driven by
Business Today1 min read
Buying Into The Boom
From the late Rakesh Jhunjhunwala to Vijay Kedia, Mukul Mahavir Agrawal, Safir Anand, and Ambareesh Baliga, all ace stock market investors are actively investing in start-ups Pure-play themes, which are often hard to find in the secondary markets, ha
Business Today2 min read
Aksha Kamboj: The Power Propelling Aspect Global Ventures To Unprecedented Success
Take the case of Aspect's venture into the bullion business, where Aksha and her team decided to offer one consistent price, linked to the live bullion market prices, pan-India. The strategy not only attracted more customers but also built lasting cu
Business Today7 min read
SECI Leads with Innovation in India's Clean Energy Mission
Could you share about the genesis of SECI and the 'Green India' vision and mission of the corporation to meet India's increasing energy demands and ensuring energy security? Solar Energy Corporation of India Limited (SECI) was set up in 2011 to facil
Business Today6 min read
‘‘There May Be Consolidation Of ARCs Going Ahead”
Asset Reconstruction Company (India) Ltd or Arcil, India’s oldest asset reconstruction company (ARC) that deals with bad loans or non-performing assets (NPA) across large corporate, SME, and retail segments, is making a big digital push. With assets
Business Today3 min read
Adani's Renewable Energy Project In Khavda Will Power Over 16 Million Homes
AGEL plans to develop 30 GW at the world's largest RE project situated on the barren land of the Rann of Kutch. Built across 538 sq km, it is five times the size of Paris and almost as large as Mumbai city. A total of 81 billion units will be generat
Business Today9 min read
Bandhan At A Crossroads
WHAT IS COMMON to Kotak Mahindra Bank, YES Bank, IDFC First Bank, and Bandhan Bank? Over the past two decades, the Reserve Bank of India (RBI) has granted universal banking licences to only these applicants. All have had their own sets of challenges,
Business Today1 min read
Challenges Galore
New CEO to take time to stabilise; transition from founder CEO to professional CEO to be challenging Competition from banks in the rural and semi-urban areas; mobilising CASA a challenge Scaling up in the other BFSI segments like mutual funds and ins
Business Today1 min read
Bandhan 2.0 Strategy
To become a truly universal bank; re-energising its branches as full-scale branches Transformed core banking solution from FIS to Oracle; tech stack being upgraded Credit standards in microloans tightened; a separate recovery team created Focussed ap
Business Today3 min read
Impact Of Tobacco Consumption Is Beyond Just Cancer
Tobacco use is a major public health issue worldwide, and its harmful effects extend beyond cancer. It is one of the leading causes of preventable death and disability, with far-reaching consequences. Despite the well-documented dangers of tobacco us
Business Today6 min read
“I Can Play A Strategic Role Within The Holding Company Of The Bank”
CHANDRA SHEKHAR GHOSH, the Founder, MD, and CEO of Bandhan Bank, was one of the fortunate few to secure a full-scale banking licence. The 64-year-old transformed what started out as a microfinance institution (MFI) into a bank, providing credit acces
Business Today4 min read
Change Catalysts for Generation Green: Green Frontier Capital's Bold Vision for a Sustainable Future
Can you tell us about your background and what motivated your shift towards sustainability investing? My journey began in 1995 (upon my graduation from my undergraduate studies at Boston College) navigating the intricacies of finance, particularly in
Business Today7 min read
Profiting From Esg
ULTIMATELY, IT ALL boils down to profit. Today’s business landscape goes beyond profit to emphasise how companies impact the planet and people; at the same time, environmental, social, and governance (ESG) criteria guide businesses to make sustainabl
Business Today1 min read
Green Deal
ANNUALISED RETURNS DELIVERED BY ESG FUNDS AS A CATEGORY IN THE PAST 5 YEARS, AND 29% IN THE LAST ONE YEAR TILL MAY 14, PER VALUE RESEARCH INDIA’S TARGET TO MEET ENERGY REQUIREMENTS FROM RENEWABLE SOURCES BY 2030 TO MEET ITS NET-ZERO CARBON EMISSION O
Business Today5 min read
Beyond The Blip
ON MARCH 26, 2024, BlackRock CEO Larry Fink caused quite a stir. His annual chairman’s letter to investors was in the news for what it did not have. Conspicuous by its absence was the mention of the term ESG (environment, social, and governance). But
Business Today3 min read
Humanising Sustainability
THE CONCEPT OF sustainability has undergone a remarkable evolution in the last 50 years. What started as a niche idea has now matured into a global imperative affecting every aspect of human life. A pivotal moment was the Brundtland Commission Report
Business Today4 min read
Paying For Change
IN JUNE 2023, over 100,000 were affected by the severe flooding of the Singra River in Assam. Soon after, the monsoon brought further devastation with heavy rainfall causing landslides in parts of northern India, particularly impacting the state of H
Business Today1 min read
Big Numbers
$1.5 trillion or annually around $250 billion needed by 2030 for India’s climate mitigation and adaptation goal $10-15 trillion required by India in climate finance to reach net zero by 2070 $8 trillion needed to significantly scale generation of ren
Business Today4 min read
De-risking The Books
HOW PREPARED ARE Indian banks to tackle climate-related risks? Well, the journey has just begun with the generation of data of risks posed by climate change, and offerings like green bonds and green fixed deposits. Still, the bottom line is that bank
Business Today3 min read
Padmaja Reddy The Microfinance Queen of India
What inspired you to start Keertana Finserv? I established a Micro Finance Institution, Spandana in 1998. It became the second-largest Micro Finance Institution by 2009. We were to go public when the Andhra Pradesh (AP) Government implemented an ordi
Business Today2 min read
Prayagh Consumer Care Lalwanis' Ode To India's Sweet Story
Prayagh Consumer Care can trace its origin to an exclusive contract for manufacturing the CANDYMAN range of Hard-boiled Sugar Confectionery, Toffees and Eclairs for M/S. ITC Ltd. (Foods Division). The company has since grown leaps and bounds with its
Business Today3 min read
Dr. Satyajit Bose's Mission Affordable Healthcare For All
Our nation is transforming itself into a juggernaut of progress, changing its identity to emerge as a modern, contemporary nation in the world. However, healthcare is still a niggling area of concern. Recollecting that Mahatma Gandhi said that India
Business Today2 min read
Dr. Ajay Bakshi executive Coach Leading The Metamorphosis Of Corporate India
Dr. Ajay Bakshi proclaims, "To drive sustainable profits we need to align people strategy, invest in developing people capabilities and align a high performance culture to reward, recognize and retain key talent''. His firm, the Pune based Metamorpho
Business Today1 min read
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Business Today5 min read
The Green Barrier
FOR JINDAL STAINLESS, exports constitute approximately 15% of sales volume; about 40% goes to Europe. While Europe presents a significant growth opportunity for the stainless steel major, the European Union’s Carbon Border Adjustment Mechanism (CBAM)
Business Today6 min read
Eco Chamber
ROW AFTER ROW of racks stacked with computer hardware like servers and data storage devices packed into a large, air-conditioned hall. These data centres are the organs that run the networks that power everything from sending a WhatsApp message to in
Business Today1 min read
Users’ Club
Amazon Web Services is investing in renewable energy for its data centres in India; as of 2022, AWS had an estimated capacity of more than 1.1 GW Yotta’s Mumbai data centre obtains over 50% of its power from hydroelectric sources, without building it
Business Today3 min read
From Grey To Green
NEARLY ONE-FIFTH OF global greenhouse gas emissions in 2022 originated from sectors like iron & steel, manufacturing, construction, etc. These sectoral greenhouse gas emissions pose a significant challenge due to technological and financial hurdles a
Business Today7 min read
House Of The Rising Sun
FOR AMIT RAY, a 40-year-old businessman from Odisha’s Angul district, the decision to embrace rooftop solar (RTS) energy was taken primarily to save costs. The shift towards sustainability was driven by soaring electricity bills, which were taking a
Business Today1 min read
Mind It
To be eligible for subsidy, installation should not exceed 85% of the sanctioned load Subsidy is applicable only for panels made in India Current electricity connection should be in your name Ensure consistency in bank account, electricity bill, and
Business Today1 min read
Subsidy Rate
RATE (₹) 1 kW: SUBSIDY 30,000 RATE (₹) 2 kW: SUBSIDY 60,000 RATE (₹) 3 kW*: SUBSIDY 78,000 *₹18,000 PER KW FOR ADDITIONAL CAPACITY OVER 3 KW SOURCE PM SURYA GHAR MUFT BIJLI YOJANA WEBSITE ■
Business Today3 min read
Snippets from Down Under
This is one experience you are unlikely to forget in a hurry. An hour and a half drive from Melbourne is the Ballarat Wildlife Park, that allows you to get up, close and personal with some of Australia’s most famous native animals. Think hand-feeding
Business Today2 min read
Conscious Consumption
The Apple Watch Series 9 comes with not just all the goodness that is expected from that line of watches; it is great for the environment too. Apple’s first carbon-neutral product is manufactured with 100% clean electricity. Apple has also reduced tr
Business Today3 min read
A Man of Multitudes
EDITED BY TARUN DAS, KIRAN PASRICHA PUBLISHER JUGGERNAUT PAGES 304 PRICE ₹899 IN THE SPRAWLING NARRATIVE of India’s economic evolution, one name stands out as a luminary with profound contributions—Rahul Bajaj. For those growing up in the 1990s, one
Business Today1 min read
‘‘Seek Feedback And Incorporate It’’
What was the problem you were grappling with? Back in the day, I was grappling with a difference of opinion with my team. I was using the same yardstick with everyone around me. This came to light during an annual conference, where several members sp

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