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Never lose sight of the goal of building modern, self-reliant India: PM to civil services trainees

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Prime Minister Narendra Modi on Thursday asked trainee officers at Mussoorie’s Lal Bahadur Shastri National Academy of Administration to never lose sight of the biggest goal of evolving India into a modern and self-reliant country.

Prime Minister Narendra Modi on Thursday asked trainee officers at Mussoorie’s Lal Bahadur Shastri National Academy of Administration to never lose sight of the biggest goal of evolving India into a modern and self-reliant country.

“Besides developing itself, India has to play a bigger role in the new world order emerging post-Covid pandemic,” he said at the valedictory session of the 96th Common Foundation Course of the institute.

“I have interacted with several batches of civil services trainees but your batch is special because you have done it in the year when India completes 75 years of Independence. When the country completes 100 years of its Independence you will be in service,” he said. Asking trainee officers to never let go of their sense of service and duty, Modi said they should keep asking themselves throughout their careers whether they are losing these two qualities.

“The sense of authority and power harms both individuals and institutions.” The Prime Minister also asked the trainee officers to always bear in mind that the country has to take the motto of reform, perform and transform to the next level. “When you go in the field you should not hesitate in taking a decision that you think might make a difference in the life of the man on the lowermost rung of the social ladder,” he said.

He also advised them to not treat the data in files brought to them when they go out in the field as just figures, saying they are related to individuals and their dreams. “Try to understand the rationale behind a system in relation to the time in which it was established. When you understand the logic behind a system you can come up with permanent solutions,” Modi said.

The Prime Minister advised the trainee officers to pick five to seven challenges faced by people in their areas when they go out in the field and try to find a solution to those so that they are remembered long after they leave the place. He also asked them to write an article before they leave the academy summing up what they want to do as officers and administrators.

“When you complete 25 years of service you can revisit your article and find out whether or not you succeeded in achieving what you had set out to achieve,” Modi said. Sometimes, doing too many things cannot give one the satisfaction of doing just a couple of things one had targeted to achieve, he said. “You are going to be part of a positive social change. So try to develop leadership qualities and a team spirit. It is mandatory for bringing about any major change,” Modi added. Before his address, Modi inaugurated a new sports complex at the Academy besides dedicating to the nation a revamped Happy Valley Outdoor Complex.

Also read: ‘Conspiracy to discredit’, PM Modi on Kashmir Files film

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Indian women breaking the glass ceiling in 2021

Falguni Nayar, Founder & CEO of Nykaa, started Nykaa, an e-commerce beauty platform, at the age of 50. 8 years later, in November 2021, she became India’s richest self-made woman billionaire after the company went public.

Leena Nair is the 1st Indian CEO of Chanel, a French luxury fashion house. Also the 1st female and the youngest CEO of Chanel.

Watch accompanying video for more.

 5 Minutes Read

The Office of the Future: The Operative word now is ‘Hybrid’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The value proposition and offerings of a hybrid work model far exceeds that of working out of conventional, business district based non-flexible offices. Hybrid work is really, therefore, the only smart way to work.

The good news is that the workforce is finally trooping in back to the workplace. What began as a trickle is now a stream and hopefully, will soon be a flood. For enterprises, navigating the pandemic and staying afloat in its wake emerged as one of the biggest operational challenges of our times – something totally without precedent. For companies big and small, survival became the only mantra, as offices, factories, hotels, cinemas, malls and stores emptied out. Thankfully and hopefully, all of this is now in the past and even the worst affected economies are rapidly opening and embracing the new normal. Consequently, the return-to-work has emerged as a boardroom and C-suite issue – as business leaders personally monitor back-to-office plans.

The new normal has made professional communities break with deep-rooted conventions and embrace flexibility and resilience like never before. The change has been the realisation that the workforce can work remotely. And this is a big change for which one needs to take a quick detour into workplace history. The first offices came into being at the zenith of the British empire – the world’s first office was established in London in 1726. As industrialisation increased, a consequent increase in paperwork and focus on maximising workforce efficiency led to the development of open-plan offices, where workers sat in neat and endless rows under uniform lighting.

Also Read | Millennials and their crypto affinity

With time, office plans changed but the premise that offices were required for efficient workforce management remained fundamental. The pandemic ended this in a manner no one could have anticipated – communications technology ensured that even during the worst lockdowns, the workforce was engaged, productive and connected. Now that the pandemic is losing its grip, the workforce, realizing that the centrally located office headquarter is no longer sacrosanct, is demanding flexible workspace arrangements that allow them to be in better control of their time and space and thereby be closer to their families and loved ones and commute less. Realising this, what began as a pandemic-induced need, has now moved beyond the pandemic as corporates start laying out a hub-and-spoke model of workplaces allowing employees the option of flexible work.

Staging sustainability and sensitivity towards environment back in the centre

The conventional way of working which involves long commutes, crowded workspaces and working odd hours out of office headquarters make it difficult for companies to achieve their sustainability goals. Hybrid working not only advocates long term sustainability but also populates sensitivity towards the environment as it lets employees commute less by working from closer home, thereby helping enterprises and individuals reduce their carbon footprint.  According to IT giant, Tata Consultancy Services (TCS), the firm reduced its carbon footprint by 49 percent in 2020 by allowing its employees to work remotely. Amid the pandemic, the hybrid model is becoming an impetus in steering enterprises towards an environmentally conscious business model.

Also Read | Backstory: When the Amitabh Bachchan magic faded briefly

Making room for new business models & attracting better talent

Volatility in business and the environment it operates in does not shy away from setting precedents. Given the new normal, today more than ever businesses need to innovate and introduce multiple business models to secure their operational future. Flexible workspaces provide a wide berth to businesses to scale up and introduce new verticals by cutting costs, minimising risk, and facilitating the acquisition of high-quality talent. According to an EY report, more than half of the employees around the world surveyed would be willing to quit if not presented with flexible options to work. With the rise of the gig economy, employers need to take extra care and ensure the best utilisation of talent, skills and expertise. Flexible workspaces facilitate customisation of workspaces to individual needs, whether they are technology, creativity or administration driven. More agile businesses have better operational dynamics as they move in and out of markets with greater ease, thereby boosting investor and stakeholder confidence in their business strategy.

Prioritising employee wellness and health

With the pandemic, health and wellness have become uncompromisable factors for employees and enterprises. Conventional office structures have been largely choreographed to stack in more employees and cut down real estate costs. It is difficult for these offices to be operational even at half their capacity and follow social-distancing and hygiene guidelines, simultaneously.  Flexible workspace designs adhere to hygiene practices and focus on improving the working life of employees. Breaking the shackles of a cubicle, flexible workspaces are designed to be more ergonomic and dynamic with every foot. Something as extraneous as natural light and acoustics is managed properly to aid fluid working and collaboration of employees.

Also Read | The Greater Fool Portfolio Theory – Ponzi Variant or Employment Guarantee Program?

Adding value to social responsibility

Businesses cannot last long by alienating themselves from the surroundings they operate within. Workspaces must interact socio-economically with their localities to create thriving communities and boost local business. High rise office spaces established in constricted business districts can only offer so much, socially. Flexible work establishments in smaller cities and suburban areas generate both primary and secondary employment. In addition to this, hybrid work foster investment opportunities for local real-estate and infrastructure players thereby contributing to thriving local communities.

The value proposition and offerings of a hybrid work model far exceeds that of working out of conventional, business district based non-flexible offices. This is enabling a very real and holistic transformation of the way we work, improving work-life balance, being more sustainable and most importantly, boosting employee productivity. Hybrid work is really, therefore, the only smart way to work.

 

 

(The author of this article is Harsh Lambah, Country Manager India, Vice President Sales – South Asia, IWG. The views expressed in this article are his own.)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Find your next #workfromhome job on LinkedIn; here’s what Indian employers feel about it

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

LinkedIn has launched its new hybrid job search features to help jobseekers find flexible workplaces. The tools will also assist jobseekers effectively manage their side hustles.

Professional online network LinkedIn has rolled out remote, on-site, and hybrid job search features after receiving overwhelming demand for flexible workplace searches in the wake of the COVID-19 pandemic. The features also include #OpenToWork filters to meet jobseekers’ need for greater flexibility at their new places of work. Workplace policies and hiring environment have seen a tectonic shift since the pandemic hit about two years ago.

A report shared by LinkedIn said business leaders in India were the most confident in the entire Asia Pacific (APAC) region in leading a distributed workforce. According to the report, 9 in 10 business leaders in India are open to offering job sharing possibilities. The number of companies that are offering work from anywhere, even from other countries, is as high as 78 percent in India.

Also read: Work-life imbalance a major stressor for India’s professionals today: LinkedIn

With such high numbers in terms of a hybrid work culture, India is leading the APAC region. The numbers for other regions stand at 68 percent for job sharing and 58 percent for work from another country.

For such transformative policies to get implemented, there are various pitfalls that Indian leaders have to navigate. Some of the bumps include substandard work, which is a concern for 39 percent of leaders, lesser collaboration between employees troubles 37 percent leaders and bad customer experience is the concern for 36 percent managers.

Also read: TCS, Wipro, HDFC Bank, Deloitte: Work from home to end, list of firms opening offices

The main purpose of introducing these new features is to provide jobseekers transparency and flexibility while looking for new opportunities. The tools will also help jobseekers clearly state their preferred flexible working model and help them learn more about workplace policies. The tools are also meant to assist jobseekers effectively manage their side hustles.

#LinkedIn #FlexibleWorkForce #WorkFromAnywhere #SideHustles #OpenToWork

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

How retail tech is shaping the way people shop

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Undoubtedly, technology is rewriting the models of operations across every industry but the impact is greater in retail. Technological advancements are critical for retailers if they aim at remaining relevant and profitable in the current unprecedented times.

Not too long ago, stepping into a store, trying out several outfits, and purchasing other necessary items such as appliances, furniture, footwear, beauty products and more, was a routine. However, exceedingly, that scenario has changed.

Even though the penetration of online retail was quite high even before the outbreak of the COVID-19 pandemic, people started preferring the digital route more post-pandemic, thereby making technology the ultimate saviour.

In the COVID-hit new normal, companies in the retail sector were forced to embrace different selling patterns rather than just focusing on offline sales. Every other business suffered a great misfortune except for the firms that timely adopted the technology.

Undoubtedly, technology is rewriting the models of operations across every industry but the impact is greater in retail. Technological advancements are critical for retailers if they aim at remaining relevant and profitable in the current unprecedented times. It seems that the retail experience of the future is going to be moved by both physical innovations and advanced analytics to match the ever-changing expectations of the consumers while permitting retailers to reboot working and revenue models.

Also Read | Sale or no sale: When do you shop online?

Let’s delve deep to further explore how retail tech will shape the way people shop.

Omnichannel e-commerce

E-commerce, perhaps, has been one of the biggest changes for retailers that have helped earn more and grow successfully. The businesses no longer had to spend for the opening of physical stores to drive sales. Everything could be easily done online.

However, taking a step further, now more than ever, it seems necessary to adopt an omnichannel marketing approach too. It’s a multichannel strategy that seeks to provide customers with the flexibility of completing purchases on any channel, be it offline, online, mobile web and apps, or social commerce.

Also Read: Digitising local businesses capital efficient way of delivering hyperlocal e-commerce, says Lovelocal

This indicates that in the future of retail, digital and physical worlds will be connected only to drive more sales. While digital presence provides convenience, brick-and-mortar stores can attract walk-ins or even become destination points for tourists. Hence, the omnichannel e-commerce marketing strategy is the future of retail that will enhance the way people shop.

Extended reality

Extended reality is enormously influencing the retail sector. This includes the process of Virtual Reality (VR) and Augmented Reality (AR). Simply put, AR uses a real-world setting that produces an interactive experience through a mobile device, whereas VR is completely virtual that uses computer technology to create a simulated environment.

Both help create an immersive experience that enhances consumer engagement. It can be stated that virtual fitting rooms utilising the ‘augmented reality technology’ is one of the most fascinating developments in the retail industry.

Since the ‘try and buy’ method is not that safe, owing to the pandemic, augmented reality becomes the friend in need to assist customers with settling on decisions on what to buy by virtually ‘trying them on’. By using virtual fitting rooms, customers can ‘try on’ their products like apparel, jewelry, or shoes with their smartphones. Certainly, the potential of augmented reality in the retail space cannot be ignored now and ever in the future.

Contactless options

Considering that we live in a world where social distancing is still a relevant and very much applicable concept, in order to protect public health, going contactless is a critical retail trend.

Ever since the pandemic wreaked havoc, the majority of customers have been showing considerable interest in outlets with contactless and self-checkout options. Technologies such as machine learning, IoT devices, facial recognition and RFID tags aka radio-frequency identification, which uses electromagnetic fields to automatically identify and track tags attached to objects, can be used to accomplish the contactless objective.

Also Read: Hit by pandemic 19 days after launch, how Baro Market survived COVID-19

In particular, organisations can take advantage of computer vision, sensor fusion, and deep learning. The IoT network in the store helps track the products that consumers place into their trolleys. When the shopper exits, the store will automatically charge from the card that the customer has on record. Furthermore, customers have the option of scanning barcodes and QR codes for prices and other additional information about items to make payments while simultaneously reducing cross-contact by customers in stores.

The bottom line

The brands are gradually becoming considerably more cutthroat, building techniques that will make organisations more proficient and customer-oriented. Contactless services, fascinating in-store encounters, an undeniable degree of customisation, and automation will be the measures that reevaluate the new retail scene. Overall, the future of retail tech looks promising. The way people shop has transformed, but for good.

The author Kanav Singla is the founder and CEO at Adloid. The views expressed are personal.

Read other views here

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Indian Railways to open first pod hotel in Mumbai by month end

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The Japanese concept of pod stays combine minimal space with affordability. Indian Railways’ pods come with basic facilities like free wi-fi, luggage room, shared toilets, TV, air-conditioner and charging slots — all at Rs 999 for 12 hours.

The Indian Railway Catering and Tourism Corporation (IRCTC) is going to launch its first pod hotel in Mumbai soon. The unique Japanese style pod concept stay facility is expected to be opened for passengers at the Mumbai Central railway station by the end of this month, according to reports.

IRCTC has tied up with Urban Pod Pvt Limited to provide this retiring room facility for passengers. This will be the first of its kind offering from Indian Railways in the country and passengers on a tight budget can get the benefit.

Also watch: What’s inside a Japanese pod hotel

Pods are small capsule hotels which house a large number of small bed-sized rooms. Each room could be just big enough to fit in a bed. The concept, first developed in Japan, has been gradually gaining popularity in other countries because of its affordability. The pod stays come with all modern facilities and are suitable for overnight stays.

The passengers are expected to receive basic facilities like free wi-fi, luggage room, shared toilets, TV, small locker, mirror, air-conditioner and charging slots, among others, at the pod hotel of the IRCTC. The pod hotel will have three classes — Classic, Ladies only and Private Pods. There will also be dedicated pods for differently-abled passengers.

Also read: Railways’ mega plans under new minister Ashwini Vaishnaw; here’s a look

Initially, the facility will be launched with 48 pods, according to IRCTC sources. There will be 30 classic pods, seven ladies only pods and 10 private pods.

Though there is no information about the booking price of these pods, the cheapest pod is expected to be available at Rs 999 for 12 hours, according to reports.

Also read: National Monetisation Pipeline: Here’s deep-dive into road and railways sector

In February 2019, then Railway Minister Piyush Goyal had announced about the pod hotel at the Mumbai Central railway station. Sharing a video Goyal had tweeted, “The country’s first POD Hotel will be built at Mumbai Central Railway Station. Due to the special design of this hotel offering world-class facilities in a low budget, more passengers can be accommodated in limited space.”

Urban Pod Pvt Limited was handed over the site to build and operate the Pod concept retiring room facility at the Mumbai Central railway station in February this year. The private operator will manage the facility for nine years in association with IRCTC.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Stock market highlights: Sensex closes above 61,300; Nifty ends above 18,300; HDFC Bank top gainer, HCL Tech dips ahead of Q2 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Stock Market highlights: Benchmark indices ended Thursday’s trade with sharp gains led by HDFC Bank, ICICI Bank, ITC. The Sensex ended 569 points higher at 61,306, rising 0.94 percent. The Nifty50 jumped 177 points, or 0.97 percent, to settle at 18,338.5. Adani Ports, Wipro, Grasim, ITC and HDFC Bank were top Nifty gainers, rising between 2-7 percent. Coal India, Tata Motors, Eicher Motors, TCS and HCL Tech dipped between 1 and 4 percent. HCL Tech shed over a percent ahead of its Q2 results post-market hours. HDFC Bank gained nearly 3 percent ahead of its second-quarter results on Saturday. Catch highlights from the stock markets today:

Stock Market highlights: Benchmark indices ended Thursday’s trade with sharp gains led by HDFC Bank, ICICI Bank, ITC. The Sensex ended 569 points higher at 61,306, rising 0.94 percent. The Nifty50 jumped 177 points, or 0.97 percent, to settle at 18,338.5. Adani Ports, Wipro, Grasim, ITC and HDFC Bank were top Nifty gainers, rising between 2-7 percent. Coal India, Tata Motors, Eicher Motors, TCS and HCL Tech dipped between 1 and 4 percent. HCL Tech shed over a percent ahead of its Q2 results post-market hours. HDFC Bank gained nearly 3 percent ahead of its second-quarter results on Saturday.

Catch highlights from the stock markets today:

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Vehicle Scrapping Policy: All you need to know about incentives and disincentives

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Old vehicles cause more pollution, have higher maintenance, and consume more fuel. India has at least 4 crore 15-year-old vehicles and nearly 50 percent of these vehicles are older than 20 years.

In a bid to encourage people to discard their old vehicles that cause more pollution, have higher maintenance and consume more fuel, the Union Ministry of Road Transport and Highways has issued a list of incentives and disincentives concerning the Vehicle Scrapping Policy.

According to the GSR (General Statutory Rules) notification published in the Indian Gazette, “As an incentive, there will be a waiver of the fee for issue of the certificate of registration for a new vehicle, purchased against the authority of the Certificate of Deposit (CoD) issued by a Registered Vehicle Scrapping Facility for a vehicle being scrapped.”

Meanwhile, the disincentives include:

  • Increase in the fee for conducting fitness tests and renewal of fitness certificates for motor vehicles more than 15 years old.
  • Increase in the fitness certification fee for transport vehicles more than 15 years old.
  • Increase in the renewal of registration fee for personal vehicles (non-transport vehicles) more than 15 years old.

Here are the revised charges for the assignment of a new registration mark or renewal of the certificate of registration:

Vehicle New registration Renewal of registration
Motor cycle Rs 300 Rs 1,000
Three wheeler/Quadricycle Rs 600 Rs 2,500
Light motor vehicle Rs 600 Rs 5,000
Imported motor vehicle (two or three wheeled) Rs 2,500 Rs 10,000
Imported motor vehicle (four or more wheeled) Rs 5,000 Rs 40,000
Other vehicles Rs 3,000 Rs 6,000

Read More | Scrappage Policy: There Shouldn’T Be Any Incentive To Scrap Unfit Vehicle, Says Maruti Suzuki’S Rc Bhargava

Here are the charges for grant and renewal of the certificate of fitness for motor vehicles older than 15 years:

Vehicle Manual Automated
Motorcycle Rs 400 Rs 500
Three-wheeled or light motor vehicle or quadricycle Rs 800 Rs 1,000
Medium goods or passenger motor vehicle Rs 800 Rs 1,000
Heavy goods or passenger motor vehicle Rs 1,000 Rs 1,500

Here are the charges for grant or renewal of the certificate of fitness for motor vehicles (transport) older than 15 years:

Vehicle Charge
Motorcycle Rs 1,000
Three-wheeled or quadricycle Rs 3,500
Light motor vehicle Rs 7,500
Medium goods or passenger motor vehicle Rs 10,000
Heavy goods or passenger motor vehicle Rs 12,500

The changes will come into effect on April 1, 2022.

The idea is to discourage people from keeping their old vehicles.

Read More | Budget 2021: Scrapping Policy Sans Incentives Won’T Work, Says Auto Sector

Earlier, it was speculated that the Centre would give a waiver of up to 25 per cent on road tax to buyers of new passenger and commercial vehicles. However, the latest notification makes no mention of road tax, probably as road transport is in the Constitution’s concurrent list and road taxes are fixed by the States. The road tax is usually 10-14 percent of the vehicle price.

Read More | Need Strict Fitness Checks To Reduce Pollution, Says Rc Bhargava

In March, Union Minister for Road Transport & Highways Nitin Gadkari told Parliament that India has at least 4 crore 15-year-old vehicles. He added that nearly 50 percent of these vehicles are older than 20 years. The actual number of old vehicles is most likely to be higher than this as the central vehicle registration database of Vahan 4 (from where the aforementioned data is collated) doesn’t include the details of three big States – Andhra Pradesh, Madhya Pradesh, and Telangana.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Global surge in plant-based, cultivated meat; Indian market sees substantial growth

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Indians will spend an estimated $1.6 trillion on aspirational and healthier foods by 2030 as the focus shifts due to awareness about impact on biodiversity and the environment.

The world will soon need urgent solutions to replace large-scale consumption of meat with alternative protein forms that don’t impact biodiversity, the environment, and food chains.

According to the UN Live Stock Long Shadow Report, industrialised animal agriculture accounts for over 14 percent of greenhouse gas emissions. This contribution is greater than that of the entire transport sector.

Over 75 percent of agricultural land is used for raising and feeding livestock. But it provides only one-third of the global protein supply. Animals in the United States consume more than 2 times the antibiotics humans do. Based on current trends, medical experts expect 10 million annual deaths from antimicrobial resistance (AMR) in 2050, a 14-fold increase over current deaths.

The world will have to build alternative proteins for meat consumption. Currently, the global alternative meat market looks very attractive. It is projected to reach between $350-400 billion by 2035, according to Rahul Misra, Business Sweden.


Also Read | PM Modi launches 35 crop varieties with special traits to address climate change, malnutrition


In India, the plant-based market is expected to grow to $650-700 million by 2025. Reports indicate, 54 percent of the early adopters in India are familiar with plant-based meats. And nearly 80 percent are willing to try them.

2020 saw a major expansion of this sector. Some eight out of 21 plant-based meat alternative Indian startups were launched during 2019-20. And five major International and Indian players entered this segment during 2020-21.

Speaking at a recent India-Sweden Agri-Food Tech webinar, Nicole Rocque, Innovation Specialist of The Good Food Institute India said: “Contrary to the popular misconception, 71 percent of India’s 1.3 billion people self-identify as non-vegetarian. But there is an underlying culture of guilt associated with eating non-veg food in India with religion designating certain days of the week or year as holy and therefore for people to skip the meat. There is also the income factor, this creates drivers for meat replacement. The market is now taking off after years of ecosystem building. Smart protein market will continue to provide open spaces for international businesses to see as viable opportunities moving beyond the early adopter cohort.’’

Investments in alternative protein companies have skyrocketed globally. Venture capital and private equity investment reached $3 billion last year. Some 50-70 percent rise in protein demand was driven by emerging markets – India, China, SE Asia.

The alternate smart protein market falls into three categories: plant-based (advantages like reducing environmental pressures), fermentation (enabling technology for alternative protein industry in terms of ingredients and products leveraging micro-organisms), and cultivated meat (using animal cell culture).


Also Read | Climate change to alter Karnataka crop patterns by 2035: Study


India has the world’s largest consumer base. And it is witnessing a transition in income group, urbanisation and internet utilisation. According to WEF future on consumption, India will spend an estimated additional $1.6 trillion by 2030 on aspirational and healthier foods. Lack of protein in Indian household diets, growing climate change awareness, supply chain impact are some of these growth.

“Through our distributors in tier 2 and tier 3 cities, we see adoption and repeat purchases of plant-based meat. There is a significant willingness in Indians to try plant-based meat,” said Abhishek Sinha, Co-founder and CEO, GoodDot.

India’s biodiversity offers plant-based companies to leverage some of these unexploited high protein crop varieties. India has 15 agro-climate zones, which require international partnerships to build sustainable and climate-resistant solutions. It can serve the needs of a growing population and also serve as an important export market. There is a growing demand for investment in India’s agri-tech market to support innovations in plant-based alternatives to meat.

Dr Babita Bohra, Lead Programs, Indian Chamber of Food and Agriculture says, “being a food secure nation, India is now moving towards technological innovations. The export market for agri-produce is huge, a staggering USD 38.54 billion in the last financial year. The key focus area for agri-tech startups is improving the supply chain, as this helps farmers get a better price for their produce. India accounts for more than 450 agri-tech startups (which means every 9th startup is opening up in India).”

For example, the India-Sweden Smart Protein Corridor is trying to create knowledge institutes and universities, provide startup support, supply chain linkages, venture capital investment, industry linkages, and bilateral funding between India and Sweden.


Also Read | Explained: UN Panel’s five possible temperature rise scenarios


According to Cecilia Oskarsson, Trade Commissioner, Business Sweden in India, “Sweden is among the top 20 companies globally in terms of agri-food investments and India is among the top 5 potential markets for Swedish Agri-Food Tech firms. At present, there are 10 Swedish Agri-tech companies in India and we hope to expand more in this sector.”

“We have Volta Green Tech, Ecobot for farm robots, surplus and waste management companies like- Karma Food Rescue App, urban farming, vertical farming startups, sustainable packaging startups like Innoscentia with a team in India, e-grocers, last-mile delivery companies. And the next-gen food companies like Stockeld Dreamery- which is trying to be a category leader in plant-based cheese,” said Daniel Skavén Ruben, Head of Strategy, Stockeld Dreamery, Sweden.

But, Mark Kahn, Managing Partner of Omnivore India said while the agri-technology sector in India cannot be ignored “as its too critical a sector,” the alternative protein market in India is different.

“We feel the default meal in India is still vegetarian. India’s flexitarianism is different from the West or China where they consume every form of animal protein imaginable. In India, even the people who eat meat, eat it very rarely. Vegetarianism in India is linked to income. You will have to build plant-based alternatives not for the bottom billion since they are already eating vegetarian food but for the upwardly mobile.”

Investors are bullish on the India Food Tech market. Food Technology is leading the way, be it bioengineering, biotech, synthetic biology, or genetic biology. Global venture capital investment in biotechnology saw $28.5 billion of investment — a 60 percent year-on-year rise.

India’s plant-based protein and agri-tech industry offer an attractive market for growth and innovation. It provides opportunities for innovative foods, farm automation, novel farming, Ag Biotechnology, and food security.

What Indian farmers need is market linkages, supply chain management, traceability and blockchain, weather prediction, precision agriculture and automation. They need collaborations with market leaders who have made progress in areas like gene editing, accelerated breeding, new molecules.

Two billion people globally face food insecurity. As we go forward, we will need food systems that supply at scale. This is essential to address the expansion in demand due to upward social mobility, increasing urbanisation, and changing demographics. Agricultural markets as large as India will be key to that development.

—Bhairavi Singh has been a journalist for over 13 years. She writes on foreign policy, current affairs and politics. The views expressed are personal.


Also Read | How a drowning girl statue in Spain got people talking about climate change


 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Network 18 and Whisper host a first of its kind ‘Telethon of Change’ on the movement for menstruation education in India.

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

More than 2.3 crore adolescent girls in India drop out of school annually when they start menstruating. Due to the shame and stigma attached to periods, more than half of young Indian girls are completely unaware of what a period is, how to manage it hygienically and stay safe. But, creating period awareness through education …

More than 2.3 crore adolescent girls in India drop out of school annually when they start menstruating. Due to the shame and stigma attached to periods, more than half of young Indian girls are completely unaware of what a period is, how to manage it hygienically and stay safe. But, creating period awareness through education became the key to keeping girls in school and building generations of young Indians who associate periods with strength rather than shame. Working to remove the stigma of periods, adding menstruation education to the school curriculum and driving the evolution of how we talk about this natural phenomenon, P&G Whisper, in collaboration with Network18, started a movement called “Period of Pride”.

Since its launch in December 2020, the ‘Period of Pride – Ek Swach Soch’ campaign mandate saw adolescent school-going girls, teachers, women and mothers in rural and urban areas come together for a common cause. And they were not alone. The movement received immense support from key decision-makers and influencers in the government.

Voices in Support

The results were overwhelming. 10 lakh+ Indians signed the petition, and plenty more took notice and threw their support behind this worthy cause. As part of its year long ‘Period of Pride – Ek Swach Soch’ campaign, Network18 recently hosted a telethon to take stock of this campaign’s progress and its ripple effect that millions will feel. The three-hour telethon, led by actor and campaign ambassador Bhumi Pednekar, brought together various stakeholders and policymakers to explore multiple facets of the movement for the first time.

In conversation with Network18 Managing Editor Bihar & Gujarat, Dr Brajesh Kumar Singh, Union Health Minister Mansukh Mandaviya said, “The reach of media extends well beyond the bounds of the cities. This makes disseminating such an important message a great responsibility that I’m glad to see you have embraced in its entirety. Mass awareness movements like “Period of Pride” are crucial to not only empowering women but also continuing to educate our society on matters of grave importance that can get swept aside otherwise.”

Highlights of The Telethon

The stellar telethon line-up also included badminton champion Jwala Gutta, actor Neha Dhupia, singer Jonita Gandhi and India’s youngest mayor Arya Rajendran to name a few.

Each of them applauded the efforts of the movement to take our country into a progressive future. Chattisgarh CM Bhupesh Baghel spoke about how important this movement is to dissipate the shame around periods, “We need to change the way we think so that our daughters and women can be supported and progress fearlessly.”

Notable Indian performers including Harshdeep Kaur, Kailash Kher, Meri Zindagi—an all-women band from Uttar Pradesh, Shilpa Rao, Tulsi Kumar and Shankar Mahadevan also supported the program with compelling vocal performances that turned the spotlight on this crucial issue.

The chief minister of Assam, Himanta Biswa Sarma, also added, “Assam is a state where we celebrate periods and girls attaining puberty. I’m happy to see the same ideals reflected in this progressive movement that will educate both genders.” He also urged more people to come out in support of this ground-breaking movement by stating that, “It is a national issue, and a movement like this could save millions of Indian girls. It’s time boys, and men learned as much about this as girls and women.”

The Ripple Effect

Period of Pride has grown into a massive national movement for girl child education and empowerment. With more and more people over the 10 lakh mark signing up to support the petition for mandatory inclusion of period education in the school curriculum, the movement has far-reaching effects.

As a direct result, the Government of Jharkhand has committed to adding the Menstrual Health curriculum in their State education syllabus. Furthermore, the Union education ministry and the state government of Assam have also acknowledged and agreed to consider adopting the ‘menstrual education curriculum’ being developed by UNESCO.

The campaign drove home the importance of education about periods at every level and brought to the fore the importance of normalising the discussion about periods. In addition, the mother-daughter period hygiene awareness part of the programme made the campaign instrumental in igniting conversations on the subject of periods nationwide.

The telethon also showcased smaller parts of the movement in places like Kakori. Whisper’s on-ground movement mobilised support across touch-points and reached over four crore girls. The main focus of this part of the programme also includes spending time with mothers and addressing the critical knowledge gap in society.

Overall, as part of this campaign, Whisper has succeeded in educating over four crore girls on periods and their hygienic management and has pledged to inform an additional 2.5 crore girls in the next three years. ‘Period of Pride – Ek Swach Soch’ is one massive step towards achieving 100% menstrual hygiene adoption in India. To stay updated on this critical movement, head over to www.periodofpride.com.

This is a partnered post.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?