Month: November 2023

Zoomed Out | Central Bank Digital Currencies — what’s next for digital payments

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

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As the world becomes more digitised, countries globally are continuously looking at leveraging new technologies to make financial transactions smoother and easier. The most recent step in that direction is the introduction of Central Bank Digital Currencies (CBDCs), which are defined as a legal tender issued by the Central Bank of a country in the digital form and is equivalent to the fiat currency of that country, exchangeable one-to-one with it.

According to a recent report by Atlantic Council, 130 countries, representing 98 percent of global GDP, are already exploring the launch of a CBDC and by March 2023, over 40 countries had approached the International Monetary Fund (IMF) to request assistance through CBDC capacity development (CD).

However, as most nations concentrate on local usage and applications, there is a risk that this growth might result in a fragmented environment across international boundaries, which will lead to increased sprouting of ‘digital islands’.

CBDCs — an evolution in the payments world

As of today, 11 countries including India, Nigeria, China, and the Bahamas are already live with their own digital currencies following a wide variety of approaches. The pilot CBDC model in China uses private-sector banks to distribute and manage digital currency accounts for their customers. On the other end of the spectrum is the model explored in Europe, where authorised financial institutions each run a permissioned node of the blockchain network for the distribution of a digital euro.

The current trend of the digital evolution of currencies and payments systems comes with a set of concerns such as standardisation and interoperability.

Digital currencies have a huge potential to shape the way the world would transact in future, but this potential will only be realised if the different approaches that are explored have the ability to connect and work together.

Also Read: Digital Rupee will transform fintech and create opportunities

Fragmentation between designs and standards would lead to building ‘digital islands’, where systems would operate in isolation and not be able to interact with each other. Hence, there lies a dire need for a well-equipped and multilateral interoperable infrastructure which would not only connect multiple Distributed Ledger Technology (DLT) platforms together, but also operate well with existing payment systems, without any disruption.

A high level of interoperability will allow for transparency in transactions, rich data, and add value across platforms. In addition to that, it will enhance efficiency by reducing reliance on intermediaries and simplify cross-border payments, increase financial inclusion and financial stability, and bolster regulatory compliance.

Simplicity and collaboration are the way forward

With so many digital currencies in development across the world, any interlinking solution must be straightforward for central banks to implement. Therefore, it is essential to build a solution which can enable banks to easily integrate their domestic CBDC flows into their cross-border payments system.

Banks should also be capable of capitalising on use cases, such as trigger-based payments for digital trade platforms, foreign exchange models, liquidity saving mechanisms and delivery vs payment. This will help in forging a more inclusive, interoperable, and resilient global monetary system no matter the currency.

In an effort to bring interoperability among various CBDCs as well as with fiat currencies, Swift conducted an experiment in late 2022, to test whether its existing payments infrastructure could enable CBDCs to flow between DLT-based and fiat-based systems, and the results proved to be positive.

Recognising the potential of the experiments, the financial community has initiated as second phase of sandbox testing in which more than 30 commercial banks, central banks and financial market infrastructures are exploring additional use cases, including trigger-based payments for digital trade platforms, foreign exchange models, liquidity saving mechanisms and delivery vs payment.

Collaborative innovation is need of the hour to ensure that different countries and economies are ready to support future CBDC transactions across borders. The successful integration of CBDCs into the financial ecosystem requires careful navigation of existing complexities. By pooling expertise and resources, stakeholders can navigate the challenges of CBDC implementation more effectively, ultimately paving the way for a more resilient and inclusive financial future.

—The author, Kiran Shetty, is CEO & Regional Head, India & South Asia, at Swift. The views expressed are personal.

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

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

Nita Ambani Birthday: Philanthropist, entrepreneur & more – many hats the Reliance Foundation chairman adorns

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

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Reliance Foundation Chairman and businesswoman Nita Ambani is turning 60 on November 1. Nita Ambani is an educationist, philanthropist, entrepreneur, patron of arts and sports. She heads multiple big ventures with an estimated net worth of $2.8 billion to $3 billion.

Nita Ambani was born on November 1, 1963 to a Gujarati family in Mumbai. Nita holds a bachelor’s degree in Commerce from Narsee Monjee College of Commerce and Economics. She is also a trained Bharatnatyam dancer. She worked as a teacher till she met Mukesh Ambani and got married to him in 1985. The couple has two sons and a daughter namely, Akash Ambani, Isha Ambhani and Anant Ambani.

Apart from being known as the first lady of Indian business, Nita Ambani has created her own identity. She is the first Indian woman to be elected as a member of the International Olympic Committee. She is also the first Indian to be on the board of trustees of the Metropolitan Museum of Art, New York. Apart from achieving major milestones in life, Nita Ambani has also been an entrepreneur, and active philanthropist for which she has also been honoured with multiple prestigious awards.

Nita Ambani: Achievements

For Nita Ambani’s initiatives regarding the improvement in sports, she has been rewarded with the ‘Rashtriya Khel Protsahan Award 2017’ by the then President of India. Additionally, she is also the recipient of the award for Best Corporate Supporter of Indian Sports, awarded by the Times of India.

Apart from these, recently, Nita received the Global Leadership Award by the US India Strategic Partnership Forum (USISPF) 2023. The award has been given to Nita for her contribution to Philanthropy and Corporate Social Responsibility.

Nita Ambani: Business Ventures

Nita Ambani is the founder and chairperson of Reliance Foundation, which is a philanthropic initiative formed in 2010 with the vision of building an inclusive India.
She is also the founder of an inclusive, collaborative, interactive digital movement called ‘Her Circle’ that works for women empowerment in India.

Nita Ambani is the co-owner of an IPL team, Mumbai Indians which has won the tournament multiple times.

Additionally, Nita is also the founder Chairperson of Football Sports Development Limited which also launched the Indian Super League marking a revolution in the field of football in India.

She is also the founder and chairperson of Dhirubhai Ambani International School, which was established in the year 2003 in Mumbai. The Dhirubhai Ambani International School ensures world-class educational opportunities.

Nita Ambani is also the founder and chairperson of the recently inaugurated Nita Mukesh Ambani Cultural Centre in Mumbai.

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

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

The rise of pop psychology and mental health advice on short video platforms — a quick fix or folly

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

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If you are on Instagram, chances are high of being besieged with viral Instagram reels of the F.R.I.E.N.D.S character Monica going frantic over perfectionism with the subtext, ‘You have OCD if you do this’ — or videos where a famous influencer vlogs about their day in one minute, blaming their reactions to situations on ADHD (Attention Deficit/Hyperactivity Disorder).

We’ve all been through times when we’re not feeling well, experiencing symptoms that prompt us to consult Google. In the vast world of search results, it’s easy to fall into the rabbit hole of self-diagnosis and anxiety. Sometimes, this phenomenon extends beyond physical ailments and dives into the realm of mental health, and videos on short video platforms (such as TikTok in the West) are playing an unexpected role here.

The World Health Organization (WHO) notes that 56 million Indians grapple with depression and anxiety disorders.

Instagram reels and YouTube shorts

Digital platforms are flooded with self-proclaimed experts and influencers who offer guidance on mental well-being. Hashtags #mentalhealthawareness and #mentalhealthadvocate garner millions of posts, uniting individuals with a shared curiosity and a desire to improve their understanding of mental health.

The data highlights a compelling trend. A survey by Hall & Partners, published in February 2023 encompassing 10,000 participants worldwide, reveals that over 59 million Americans sought health-related advice from TikTok and Instagram influencers. This trend was particularly pronounced among younger generations, with one-third of Gen Z and over a quarter of millennials turning to these platforms for insights into chronic conditions and health dilemmas. In contrast, only 5% of baby boomers explored this digital landscape for the same reason.

Within this sea of content creators, a vital question emerges: How reliable and accurate is the guidance offered? In a world where algorithms intersect with human emotions, the answers are as intricate as the individuals seeking them.

What kind of mental health advice are people getting from social media?

People often turn to social media for various forms of advice, including mental health guidance, dating tips, and advice on handling workplace stress. However, it’s important to recognize that the advice dispensed on these platforms may not be universally applicable. One-minute videos or brief posts cannot adequately address complex issues, and they can inadvertently fuel confirmation bias. This confirmation bias occurs when individuals already have a theory or belief, and they seek out content that reinforces it, potentially leading to hasty labels like narcissism or introvert behavior. Additionally, self-diagnosis based on limited online advice can be problematic, as it may not provide a holistic understanding of an individual’s unique circumstances and challenges.

According to Dr Sangeetha Reddy, a consulting psychologist based out of Hyderabad often people watch these advises and self diagnose themselves thinking that if ‘A’ person is going through something which they are also going through then both of them have same mental health issues, or if ‘A’ person is giving advises on how to manage trauma, or become outspoken then following that can help them as well which is not true.

“People should avoid any creator providing a ‘treatment’ for mental health as it’s not a one-size-fits-all concept. People should absolutely not self-diagnose on the basis of someone else’s personal experience. Yes self-help content is useful but that’s not the only solution and that cannot be a knowledge that you can acquire in a minute,” she added.

Why are people turning to social media for mental health advice?

“I have been diagnosed with mild anxiety and depression and at times I often turn to social media and willingly search for mental health videos just to feel that I am not alone. I look at the comment section and there is a sense of community,” said 19-year-old Diksha Sharma.

Twenty-year-old content creator Taneesha Mirwani also feels that since mental health, in general, is stigmatised, ‘social media therapy’ on short video platforms is often one of the only sources younger individuals have access to.

Experts say one reason for this can be the openness the platforms provide.

“With social media more and more people are talking about mental health, so many individuals tend to get attracted to such videos because they feel they are not alone. Those who might be feeling alone in their struggle might feel that they are getting the validation that they need on social media,” said Dr Reddy.

According to a 26-year-old content creator, Robin Kurian, short and edible pieces of content seem easier to consume and follow than reading up or going to therapy. Hence, people often end up following mental health advice as they hop on a social media trend.

Users are seeking bite-sized information presented to them in a minute or less to diagnose their symptoms and even find solutions. While reducing stigma, the surge in online mental health inquiries has spawned ‘pop psychology,’ which offers simplified advice for mental health but is often not scientifically backed.

The rise of pop psychology and why people follow it on social media

“People seem to think that psychology is all about band-aid situations. Like do xyz and you’ll be cured, but that is never the case. Mental health problems are unique to every individual. Stress for instance may be a common concern but the circumstances are always different. There is no one solution to stress unlike what pop psychology says. People want ‘fast’ relief, which is why pop psychology is popular,” said 26-year-old Divija Bhasin, who is counselling psychologist, content creator and founder of mental health organisation called The Friendly Couch.

Another reason behind this is the sense of relatability, according to 25-year-old content creator Prableen Kaur Bhomrah, Pop psychology videos often feature real stories and personal experiences, creating a profound sense of connection among viewers.

“This relatability allows understanding and empathy, making people more receptive to the advice and insights shared. The designation of mental health is another crucial factor. Pop psychology videos contribute significantly to breaking down societal taboos around mental health issues. By addressing these topics openly and candidly, these platforms normalise conversations about mental health,”

Apart from accessibility and relatability, another factor that prompts people, especially the younger audience, to seek social media therapy, thus leading to an explosion of pop psychology, is that social media is everywhere. According to Dr Reddy, youngsters use social media for everything. “You’ll find almost every youngster nowadays active on social media platforms, it’s not just a platform to share content, it’s now way more than that,” she added.

But how reliable is actually taking mental health advice from social media?

Social media therapy — information or misinformation?

Of course, there is a plethora of content creators putting out mental health content on social media — but is the content information or misinformation. According to Bhasin, pop psychology may make people aware of mental health as a concept, but the concept is deeply flawed and not what actual mental health is all about.

“It is harmful to individuals because they start to self-diagnose or use labels without any actual evidence, which can cause even more anxiety. I have witnessed this happen in real life with my clients,” she added.

ALSO READ | Meta’s social platforms are addictive and harm children’s mental health, claim 33 US states in lawsuit

A recent study PlushCare published in November last year, globally, the huge majority of mental health advice on TikTok — approximately 83.7% — may not be reliable. Additionally, about 14.2% of the videos contain content that could be harmful.

The study also discovered that only 9% of individuals offering mental health guidance on TikTok had proper credentials.

Another study featured in the Canadian Journal of Psychiatry found that 52% of the top 100 TikTok videos discussing ADHD were found to be inaccurate or misleading.

As per experts, yet another critical issue with pop psychology is that it trivialises the real struggles of people who have disorders. With the rise of pop psychology people often start to self-diagnose and don’t actually know when they need professional help.

“Another harm is that people start trivialising the work of mental health professionals and assuming that the problems are self-treatable. This stops people from getting the professional help they need, making their problems more difficult to treat when they actually go to professionals,” added Bhasin.

Further, a study of 2,000 US adults, released in December from CharityRx, showed that 33% of Gen Zers trust TikTok more than their physician. While another 44% turn to YouTube before turning to their doctor.

Meanwhile, according to Dr Reddy, the problem with pop psychology is in the trend itself. “Putting out mental health content, or just putting a perfectionist video with a title ‘Things you’ll relate to because you have OCD’ is trendy on social media, and as it favours the algorithm, many content creators jump to this without doing proper research, resulting in trendy videos in the name of mental health advice

“People tend to believe things that aren’t true because someone relatable to them said it. They trust personal experience more than experts with fancy degrees and scientific articles. This relatability can hold more importance for some than the credentials of a medical doctor or a PhD supported by scientific research. The power of personal experience and connection that comes with social media drive people to content creators on mental health rather than to professionals.

How to verify mental health advice on social media

Experts say if the content doesn’t derive from personal experience, like a mental health struggle that a creator faced, and also is something about a particular disease or symptoms, then one should make sure to check if the psychology content is being made by a real psychologist.

So it’s best to check if the adviser has completed the minimum qualification of a master’s degree in psychology. If their qualifications are not on their Instagram page, one can find them on LinkedIn.

“Lastly, please don’t follow content that sells you something to treat your mental health and take actions,” said Dr Reddy. No tea, masala, gummies, candy perfume etc. can ‘cure’ your mental health. There are remedies that help in improvement and healing, but that takes time. Even for that please talk to a professional before taking any actions,  she added.

The role of creators

As pointed out by Dr Reddy, just to feed the algorithm frenzy, people tend to put out information on mental health which is not scientifically true. Being a content creator comes with a lot of responsibility especially when it comes to talking about topics like mental health.

Aastha Shah, herself a digital content creator, advises creators to thoroughly do their research before putting out any content on the topic, and also provide the sources used in the description.

Meanwhile, Mirwani recommends that if the creators are speaking about their own experience or what helped them, they always need to specify that this was their personal experience — which may or may not apply to whoever is watching.

“Also, content creators should be free to put out whatever content they want, but should always put a disclaimer that they are not a professional when talking about topics that would be most reliable coming from an expert,” she added.

Talking about the kind of content that creators put out, Bhomrah suggests that
creators should prioritise their language when discussing mental health, and avoid stigmatising words and embracing positive and empathetic communication to help reduce the stigma. They should also reflect the diversity of mental health experiences in their content, considering cultural, gender, and background differences. Providing links to reputable mental health resources and hotlines in video descriptions is crucial

“Furthermore, content creators should be cautious about potential triggers in their discussions, using warnings for sensitive topics and allowing viewers to prepare or skip distressing content, thus fostering a more considerate and supportive environment for mental health conversations,” she said.

Further, Bhasin says that mental health professionals should be the only ones giving out mental health information, unless it is about lived experiences.

“Content creators can help by giving a platform to mental health professionals who can give out verified information. Mental health professionals can also teach creators how to understand and read information that is evidence-based, which is a skill that everyone does not have,” she added.

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

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

Latest mobile launches in November: Realme GT 5 Pro to Samsung Galaxy M44 5G, top 6 upcoming smartphones

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

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The month of November is going to be an exciting period for tech enthusiasts and consumers alike, with several highly anticipated gadgets from top brands set to hit the market. Major tech brands are gearing up for some notable releases, offering a glimpse into cutting-edge devices. Here’s a look at the expected smartphone launches in November:

iQOO 12 5G

iQOO, a Vivo sub-brand, is set to launch the iQOO 12 and iQOO 12 Pro on November 7. These smartphones are generating buzz with their impressive specifications, including 6.78-inch displays with a 144Hz refresh rate, 50-megapixel triple rear cameras, and support for Google’s latest Android 14. Notably, the devices will be powered by Qualcomm’s new Snapdragon 8 Gen 3 SoC, promising top-notch performance.

Realme GT 5 Pro

Realme is gearing up to launch the GT 5 Pro in India on November 16. Boasting a 144Hz refresh rate on its 6.74-inch touchscreen display, this smartphone is powered by the octa-core Snapdragon 8 Gen 2 processor and offers 12GB of RAM. With a triple rear camera setup featuring a 50-megapixel primary camera, an 8-megapixel ultra-wide-angle camera and a 2-megapixel macro camera, the GT 5 Pro aims to deliver impressive photography capabilities.

OnePlus 11RT

OnePlus fans can anticipate the arrival of the OnePlus 11RT in India. Priced around ₹44,999, this device is set to feature a 6.7-inch FHD+ AMOLED display with a 120Hz refresh rate. The phone will sport a 50-megapixel main sensor with OIS, coupled with a 16-megapixel ultrawide lens and a 5-megapixel macro sensor. With a 5,000mAh battery and 120W charging, the OnePlus 11RT could be a preferred choice for new phone buyers.

Lava Blaze 2 5G

Lava, the Indian smartphone brand, is launching the Blaze 2 5G in early November. This budget-friendly 5G phone will feature a unique design with a large spherical camera unit on the back and a powerful MediaTek Dimensity 6020 chip. The device will offer a 6.5-inch LCD display with a 90Hz refresh rate and a 50-megapixel main sensor, all at an affordable price point of around ₹10,000.

Samsung Galaxy M44 5G

Samsung’s Galaxy M44 is set to impress tech enthusiasts with its 6.7-inch FHD+ AMOLED display boasting a 120Hz refresh rate. Equipped with a flagship-level 50-megapixel main camera with OIS, this phone is expected to compete in the premium mid-segment market. With a substantial 6,000mAh battery supporting 25W charging, the Galaxy M44 aims to challenge competitors like the OnePlus Nord 3 and the Redmi Note 12 Pro series.

Nothing Color/Nothing Phone (2) Lite

November might see the launch of the third Nothing phone, bridging the gap between affordability and functionality. Featuring a Snapdragon 700 chip, an FHD+ AMOLED display, and a 50-megapixel main camera with OIS, this device is set to be the most budget-friendly offering from Nothing yet. With a transparent back and various colour options, it is expected to be priced around ₹25,000 to ₹28,000.

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

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

New car and bike launches in November: Mercedes AMG-C43, Royal Enfield Himalayan 452, and more

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

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The automobile market in 2023 has witnessed a wide range of launches, which include hybrid cars, petrol vehicles, and electric cars. According to reports, the trend doesn’t appear to be slowing down, as many leading carmakers are gearing up for new launches with an exciting lineup of cars in the month of November.

Many top brands, including Indian manufacturers like Tata Motors and international carmakers like Renault, Mercedes-Benz, and Skoda, are going to introduce their new cars. Let’s take a look at the major car launches that are expected in November:

New Renault Duster

The automobile company’s most popular car Duster is all set to make a global comeback with new features in November. The next-generation Duster is built upon the new CMF-B modular platform. It will be equipped with a 1.3-litre turbo-petrol engine and will be capable of delivering 167.6 bhp of power. The Renault Duster is expected to be launched on November 29.

Mercedes GLE Facelift

Mercedes-Benz is all set to end 2023 on a high note with some exciting launches in November and December. As per reports, the German luxury carmaker will be unveiling the GLE SUV with new features. The facelift version is expecting a redesigned front bumper, updated LED headlight and taillight assemblies, and a fresh set of alloy wheels. The luxury SUV is expected to be launched on November 2.

Skoda Superb

Czech carmaker Skoda is all set to introduce the latest version of its sedan model, the Superb. The new generation Superb will feature sleeker headlights equipped with Matrix LED technology, eye-catching LED taillights, and a broader grille. The upcoming sedan will offer a range of powertrains, including TSI petrol, TDI diesel, and plug-in hybrid engines. Skoda Superb will be unveiled on November 2.

Tata Punch EV

One of India’s largest automakers, Tata Motors, has already launched several facelift versions of its cars, like the Nexon, Nexon EV, Harrier, and Safari. As per reports, they are set to launch the new EV version of their hatchback, Punch. The EV version of Tata Punch is expected to offer a range of over 500km on a single charge.

Mercedes-AMG C43

Another major launch by Mercedes-Benz is the all-new AMG C43. It is a new sportier version of the luxurious C-Class and comes with a 2-litre turbo-petrol engine and a nine-speed automatic transmission. The engine can produce 397bhp of power and 500Nm of peak torque.

Toyota Urban Cruiser Taisor

Toyota will be launching the all-new Urban Cruiser Taisor, which is expected to be based on the Maruti Suzuki Fronx, in the coming month of November. The car is expected to be powered by the 1.2-litre petrol engine from the Maruti Suzuki Baleno. It has also been found that the vehicle will get a 1.0-litre turbo-petrol engine option.

Royal Enfield Himalayan 452

Royal Enfield is all set to launch the all-new Himalayan 452 in the first week of November. The adventure bike will be equipped with features like a new 452 cc single-cylinder liquid-cooled and is expected to churn out around 40 BHP and 40-45 Nm of torque.

Ducati Superquadro Mono

Ducati is expected to launch the all-new Superquadro Mono in the first week of November. The Superquadro Mono will give out 77.5bhp at 9,750rpm and 62.9Nm at 8,000rpm. Ducati has claimed that the bike has the most high-performance and road-going single-cylinder engine.

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

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

World Vegan Day 2023: Know the pros and cons of veganism

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

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World Vegan Day is observed annually on November 1 by the followers of a vegan diet. The day is an attempt to promote the benefits of a plant-based diet and its health benefits globally. The day is an occasion to encourage more people to adopt a vegan lifestyle. The advocates of the day aim to raise awareness about the positive outcomes of adopting a vegan lifestyle.

This day emphasises abstaining from the use of animal products and the exploitation of animals.

Understanding Veganism

Veganism, a term denoting a lifestyle devoid of animal exploitation, extends beyond diet, encompassing clothing and other products. Vegans abstain from meat, eggs, dairy, and other animal-derived ingredients, driven by ethical, environmental and health concerns. Advocates of a vegan lifestyle assert that embracing veganism leads to a diet rich in diverse vegetables and fruits, fostering satiety, high fibre intake, and support for agrarian communities.

Pros and Cons of Veganism

Pros

1) Enables daily intake of diverse vegetables and fruits.

2) Effective for weight loss purposes.

3) Promotes feelings of fullness due to high food volume and low energy intake.

4) Provides a high intake of dietary fibre.

5) Contrary to popular belief, Vegans face no challenge in meeting daily protein intake requirements.

6) Supports endurance training with naturally high carbohydrate content.

Cons

1) Vegan diets may lack sufficient protein and fat.

2) Vegans may experience common nutrient deficiencies.

3) Only a plant-based diet may fail to meet protein intake needs without supplements.

4) Athletes, especially during dieting, benefit from higher protein intake to preserve muscles, aid recovery, reduce hunger, and enhance mood.

5) Vegans require more protein-rich food due to lower protein quality compared to vegetarians and meat-eaters.

History of World Vegan Day

In 1994, World Vegan Day was initiated in England led by the vision of animal rights advocate Louise Wallis. The celebration emerged as a commemoration of the 50th anniversary of the Vegan Society, an organisation she headed. Wallis aimed not only to highlight the enduring presence of the vegan movement but also to spotlight the incorporation of the term ‘vegan’ into the English language.

Choosing November 1 as the date was intentional, strategically positioned between October 31, the Halloween festival, and November 2, the Mexican Day of the Dead. Since its inception on November 1, 1994, World Vegan Day has served as a global platform, uniting vegans worldwide to celebrate and advocate for veganism, emphasising its myriad positive aspects.

Significance of World Vegan Day

World Vegan Day holds rich historical roots, dating back over 2000 years, with influential figures like Pythagoras championing the cause. It serves as a platform for vegans worldwide to unite, raising awareness about the ethical, environmental and health advantages of a vegan lifestyle. According to the advocates of a vegan lifestyle, the day is an apt occasion to raise awareness about the ethical, environmental, health, and social reasons for adopting a plant-based diet.

World Vegan Day 2023 Theme

The theme for World Vegan Day 2023, ‘Future Normal’, encapsulates the vision of a world where veganism is embraced as a mainstream lifestyle choice.

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

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

Aishwarya Rai Bachchan turns 50: A look at her net worth, assets

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

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Aishwarya Rai Bachchan is celebrating her 50th birthday today. From her charismatic on-screen presence to her red-carpet appearances, the actress has already left an indelible impression among audiences in her long acting career spanning nearly three decades.

Aishwarya Rai Bachchan was born on November 1, 1973, in Mangalore, Karnataka. The former Miss World completed her schooling at the Arya Vidya Mandir High School, Mumbai, while she did her intermediate schooling at Jai Hind College.

In 1994, Rai entered and won the Miss World pageant while representing India, which garnered her major stardom and she earned global recognition as well. Following her successful film career starting in 1997 with a Tamil film Iruvar, Rai has worked in over 50 films in her career so far with several big hits to her credit.

In 2007, Aishwarya tied the knot with Abhishek Bachchan and became the daughter-in-law of Bollywood’s iconic Bachchan family. The couple has a daughter named Aaradhya Bachchan.

Aishwarya Rai Bachchan: Net worth, assets and brand endorsements

According to a GQ India report, Aishwarya Rai Bachchan’s net worth is estimated to be around Rs 776 crore, which makes her one of the richest actresses in the Indian film industry. Reportedly, the Devdas actress charges around Rs 10-12 crore for each movie, depending on the length of her character. On the other hand, she charges around Rs 6-7 crore for an assignment of one day for brand endorsements.

The Ponniyin Selvan actress has been associated with top brands like L’Oreal and the Swiss Luxury watch Longines. Apart from these, she has also been the face of many brands including LUX, Coca-Cola, Pepsi, Titan Watches, Lakmé Cosmetics, Casio pager, Philips, Palmolive, Cadbury, Fuji Films, Kalyan Jewellers, and TTK Prestige Group, among others.

The Guru actress resides in the Bachchan family bungalow, Jalsa, located in Mumbai’s Juhu area and valued at Rs 112 crore. Besides the family bungalow, the duo, Abhishek and Aishwarya, own a villa together in the Sanctuary Falls, Jumeirah Golf Estates, Dubai, which is valued at Rs 16 crore and a luxury apartment worth Rs 20 crore in Bandra-Kurla Complex of Mumbai.

Apart from owning lavish real estate properties, Aishwarya also has a luxurious collection of cars which includes, the Rolls Royce Ghost, Audi A8L, Mercedes-Benz S500, Mercedes Benz S350d Coupe, Lexus LX 570, and more.

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

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

Oil gains ahead of US Fed meeting as Israel-Hamas conflict persists

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

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Oil prices edged up in early Asian trade on Wednesday ahead of key global central bank meetings this week including the U.S. Federal Reserve, as the market also closely watches the latest developments in the Israel-Hamas conflict.

Brent January crude futures rose 36 cents, or 0.4%, to $85.38 a barrel by 0040 GMT, after falling $1.33 on Tuesday. Brent December futures settled 4 cents lower at $87.41 a barrel at the contract’s expiry on Tuesday.

US West Texas Intermediate crude futures gained 28 cents, or 0.3%, to $81.30 a barrel after losing $1.29 in the previous session.

“Crude prices are steadying ahead of a key issuance update by the Treasury and FOMC rate decision,” said Edward Moya, senior market analyst at OANDA, referring to the Federal Open Market Committee that sets the direction of U.S. monetary policy.

“Geopolitical risks remain and that seems to be offsetting some of the record production levels that are coming from the U.S.”

Crude oil inventories rose by about 1.3 million barrels last week, while fuel stockpiles fell by about 360,000 barrels, according to market sources citing American Petroleum Institute figures on Tuesday.

Interest rate hikes aimed at taming inflation can slow economic growth and reduce oil demand, while rate cuts to spur spending could increase oil consumption.

The Fed, which will end its meeting on Wednesday, is expected to hold rates steady, according to a poll by CME’s Fedwatch tool.

In Europe, October inflation in the Euro zone was at its lowest level in two years, falling to 2.9% from 4.3% in September, a Eurostat flash reading showed, leading to expectations the European Central Bank is unlikely to hike interest rates soon.

The Bank of England will meet on Thursday.

Meanwhile, Brent prices are forecast to reach $100 per barrel by June as stocks descend gently, said Goldman Sachs analysts in a note.

While the market is now tightening at a moderate pace, it “may become very tight in a more distant future,” although productivity and oil demand trends will also be critical, the analysts added.

In the Middle East, Israeli airstrikes hit a densely populated refugee camp in the Gaza Strip on Tuesday, killing at least 50 Palestinians and a Hamas commander.

US Secretary of State Antony Blinken, who will visit Israel on Friday, said the US and other countries are looking at “a variety of possible permutations” for the future of the Gaza Strip if Hamas militants are removed from control.

Also Read: Asia stocks jump, yen rises on FX warning post BOJ

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

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

Asia stocks jump, yen rises on FX warning post BOJ

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

Listen to the Article (6 Minutes)

The yen strengthened from near its weakest level this year after Japan’s foreign exchange chief said he was on standby for intervention. Shares in Asia opened stronger following an advance on Wall Street.

Japanese equities jumped over 2% as traders took relief that the Bank of Japan made only slight tweaks to its ultra-loose policy. Benchmark indexes also rose in South Korea and Australia, while futures for Hong Kong slipped. Contracts on the S&P 500 edged lower after the index rebounded in the final day of October.

Treasury 10-year yields ticked marginally lower after rising in the previous session. Traders are taking the latest US economic data in stride as they await the Federal Reserve’s interest rate decision, which they expect to be another hold. Focus is also on the US government’s new borrowing plan, due hours ahead of the Fed’s announcement.

The BOJ loosened its grip on bond yields Tuesday, in a move that appeared to fall short of investors’ hopes for a clearer sign of progress toward policy tightening. The currency saw its biggest one-day drop since April, sending it to a new year-to-date low and toward 152 to the US dollar, around the threshold that a year ago drove Japanese authorities to swoop in to prop up the currency.

The yen then extended gains early on Wednesday after Japan’s chief currency official Masato Kanda said authorities see some moves that are not in line with fundamentals and are still on standby to intervene if needed.

The dollar is little changed after earlier strengthening against the weakness of the Japanese currency.

In economic news, US consumer confidence dropped to a five-month low in October while employment costs unexpectedly accelerated in the third quarter — underscoring a strong labor market that risks keeping inflation above the Fed’s target.

The Fed should be and probably is worried about “the lagged effects of monetary policy,” Kristina Hooper, chief market strategist at Invesco, said on Bloomberg Television. “So there is a real risk that the Fed commits overkill if it hikes rates any more than it already has.”

Aside from the highly anticipated Fed decision, bond dealers are expecting the Treasury to unveil another round of increases this week to its note and bond auctions, though a sizable minority forecast the department will slow the pace of growth to avoid jolting yields higher.

“The main concern on parts of the bond market, particularly the traditional part, is really about the premium you’re getting — the term premium — to go out on the curve,” Russ Koesterich, global allocation fund portfolio manager at BlackRock, told Bloomberg Television. “And that is as much to do with the supply and changing demand dynamics as it does about inflation and the Fed. So you still want to be cautious on long-duration bonds.”

Investors are also looking to guidance from the ongoing earnings season to assess the outlook for profits and how companies are able to withstand headwinds like higher rates. US stocks slumped in October as disappointing showings from technology giants including Google parent Alphabet Inc. and Facebook owner Meta Platforms Inc. have weighed on sentiment.

In other markets, oil plunged to the lowest in two months on Tuesday amid signs that the Israel-Hamas conflict will remain contained. Gold extended its drop below $2,000 an ounce but still rose 7.3% in October — its best month since March — as the war stimulated demand for haven assets.

Also Read: Trade Setup for November 1: Nifty 50 remains on the edge ahead of Fed rate decision

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

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