Even though EV sales just make up a fifth of the Tata Motors’s overall sales, the automobile-maker is still the reigning giant of India's growing EV ecosystem. It is also leading the cab industry’s shift to EVs . Over the next 3 to 5 years, it has promised to sell at least 50, 000 EV four wheelers to cab companies. Based on the deal made over a year ago, half of them are meant for Uber. But it's been over a year since the deal with Uber and only 4000 Tata EVs are up and running in Uber's fleet? ...
May 03, 2024•12 min•Ep. 221
Nearly half of India’s 200 million workforce that is over the age of 45 suddenly has the sword of an involuntary retirement hanging over their heads. These are loyal employees from sectors like pharma, retail, manufacturing, and banking who are dealing with shorter career spans but for whom retirement is not a voluntary choice. Those aged between 40-60 years are facing long periods of joblessness after quitting or losing a job. But finding a job has become increasingly difficult for them and it ...
May 01, 2024•11 min•Ep. 220
In the last decade or so, French retailer Decathlon has managed to completely change how most of us shop for anything sports and fitness related. It replaced mom and pop sports stores by becoming a one-stop shops for all things sports and fitness related. Cult.Fit wants to pull off just that with the help of its in-house athleisure and fitness equipment brand, Cult.sport. But it doesn’t help that it’s been a pretty rocky ride for Cult.Sport this far. The brand hasn’t really taken off the way Cul...
Apr 30, 2024•15 min•Ep. 219
More people switching to Electric Vehicles (EVs) is not just great for our environment, it's great for hackers too. As EVs become more popular, hackers are constantly looking for opportunities to exploit the widening network of digitally connected vehicles. Between 2018 to 2021, incidents related to breach of cybersecurity in the auto industry rose by more than 200%. And it is only going to get worse in the coming years. In India though, it is not much of a concern yet due to the low penetration...
Apr 29, 2024•9 min•Ep. 218
A damning investigative report about Swiggy recently revealed how the foodtech giant has been depriving its delivery workers of their health insurance coverage if their ratings fall. It comes at a time when the company is prepping to make its stock market debut to raise more than a billion dollars. Earlier this week, Swiggy also got the official green flag for the IPO from its shareholders. But so far, only its food delivery business is profitable. So now, the company is running on overdrive to ...
Apr 26, 2024•10 min•Ep. 217
A few weeks ago, retail chemists got together to draw BJP's president JP Nadda's attention to the dangers of e-pharmacies. AICOD urged BJP to promise to include this ban in their election manifesto, along with a ban on discount advertising. They said e-pharmacies should be done away with nationwide to protect public health and prevent drug abuse among the youth. However, this isn't the first time that offline chemists have approached the government to express their woes against e-pharmacies. In ...
Apr 24, 2024•12 min•Ep. 216
When you think of the average unicorn-status startup, PocketFM — a homegrown audio streaming platform — is somewhat of an anomaly. Its main claim to fame? Very dramatic, borderline NSFW Hindi fiction audio series’. Its content can best be described as ‘masala’ entertainment. And yet, millions of listeners tune in every day to listen to stories like ‘I love you monster’, or ‘Karan Arjun reloaded’, or ‘Millionaire Ghar Jamaai’. While all this may not be your cup of tea, it has really worked for Po...
Apr 23, 2024•14 min•Ep. 215
In the last few years, companies like Everest that manage cab fleets have become the silent battalion in Uber’s army of cabs. In fact, 90% of Everest’s fleet is with Uber. This, of course, has helped Everest grow its revenues and both seem to have found their relationship to be mutually beneficial. Everest gets to run its assets on a high demand platform. And for Uber, it become so much easier to manage its cars. So Uber is deepening its ties with Everest, especially with Uber Green in mind. But...
Apr 22, 2024•11 min•Ep. 214
Last month, the Reserve Bank of India directed credit card issuers or banks to not sign exclusive contracts with card networks, like Visa and Mastercard, that restrict them from using other networks. The RBI did this because it said consumers deserve to have the freedom of choice. This new rule will be effective from early September and it will change the credit card game as we know it. For starters, the American card network giants Visa and Mastercard who together have been dominating 90% of th...
Apr 19, 2024•10 min•Ep. 213
In 2021, Campus Activewear took away the top spot in India's athleisure-footwear market from Puma, thanks to its affordable and trendy sneaker offerings. And by May 2022, it became a publicly listed company. Within a span of five months after its listing, its valuation shot up to a staggering US$2.2 billion. However, two years later now, its market capitalisation has nosedived to under US$890. The reason is a combination of factors including the slow down in demand and also, an ever-increasing n...
Apr 17, 2024•14 min•Ep. 212
Just like every Lok Sabha election in the last 72 years, millions of people will vote for a new government over the next couple of weeks. But there is one thing that really sets this election apart. Never before have political parties actively used Generative Artificial IntelIigence at this scale. It is a turning point in India’s electoral evolution. Some AI startups in India have been developing hyper-personalised voter experiences for political parties. This comes at a time when Gen AI tools l...
Apr 16, 2024•13 min•Ep. 211
In January, the RBI, more or less killed Paytm Payments Bank. But Paytm Bank was the backbone of its loan business, the same business that helped it recover from its post-IPO bloodbath. Now, Paytm’s lending partners, on whom its loan business is dependent, are spooked They dont know if they should continue working with Paytm. Meanwhile, Paytm is doing its best to save what it can but Paytm Payment Bank is currently in limbo. Last week, Survinder Chawla, the MD and CEO of Paytm Payments bank also...
Apr 15, 2024•12 min•Ep. 210
Phone calls from Bajaj Finance offering loans are almost inescapable and lately, the non-bank has faced quite a backlash for it. But telecalling has been an enduring sales channel for the company which boasts of a loan book worth $28 billion. And despite the massive size of its loan book, it’s been growing at 30% for years. Now this rate is seeing a dip through. Bajaj needs to maintain a 26-27% growth rate. Meanwhile, shifting its loan sourcing to its digital assets is going to take a while. So ...
Apr 12, 2024•12 min•Ep. 209
It's been over a year since the govt launched Open Network for Digital Commerce (ONDC). The idea was to build the world largest e-commerce platform to check the monopoly of giants like Amazon and Flipkart. From ride-sharing and food delivery, to groceries, the platform can be used to buy and sell anything. The platform is close to hitting the 50 million transactions mark now. And what stands out about it is its fascinating pricing strategy that makes ordering food on it as much as 45% cheaper th...
Apr 10, 2024•16 min•Ep. 208
Lat week, the struggling edtech giant Byju's laid off another 500 of its employees. This came along with a salary delay of three consecutive months. In his email to employees two months ago, Raveendran had written, “I have been moving mountains for months to make payroll, and this time, the struggle was even bigger to ensure that you receive what you rightfully deserve." With the latest round of layoffs though, the employee count at Byju’s has gone down from 15000 at the end of last year to arou...
Apr 08, 2024•10 min•Ep. 207
In January this year, Tata Digital's BigBasket announced its rebranding for slotted delivery service to “Supersaver”, promising to deliver products in under two hours. Back when Tata had acquired the BigBasket at a reported valuation of $2 billion in mid-2021, the company was loss-making. But for those at BigBasket, it was an opportunity to shift their focus back to the company’s core business: doorstep grocery delivery. While it was a bit too late when Tata realised its new acquisition was left...
Apr 05, 2024•12 min•Ep. 206
The government of India launched Digiyatra, a contactless, facial-recognition-based passenger-entry system, in December 2023. The idea was for those who sign up on the platform to avoid the tedious process of getting their ID and flight tickets checked by CISF personnel at airports. But lately, stories of passengers being forced to sign up for the app are surfacing on social media. Just this week, there were reports of Digiyatra forcing users to move to a new app without notice. Meanwhile, airli...
Apr 03, 2024•11 min•Ep. 205
The entire logic of buying online instead of going to a store rests on e-commerce companies making it easy to return stuff. What if it doesnt fit me? What if it is damaged? Just ask for a return and someone comes to your doorstep and picks it up. However, as it turns out, e-commerce companies hate returns because reverse logistics are a costly affair for them. Now, the likes of Ajio and Myntra are changing their return policies. Some are even blocking some customer accounts. But are customers re...
Apr 01, 2024•10 min•Ep. 204
Earlier this week, the Competition Commission of India (CCI) cleared Manipal group chief Ranjan Pai's investment in online pharmacy PharmEasy. So far Pharmeasy, once the highest-valued Indian healthcare startup, has raised Rs 3,500 crore through a rights issue. But it raised this money at a 90 per cent discount to its peak valuation. From $5.6 billion to $500 million! All because it had to take another debt to pay off its previous debt. The second time though, interest rates were not zero. What’...
Mar 29, 2024•12 min•Ep. 203
Beyond the nostalgia associated with meals on trains, quite often, there are also horror stories. In fact, even a recent Parliament Panel report pointed out how food quality on Indian trains is compromised. The IRCTC (The Indian Railways Catering and Tourism Corporation) has been trying to figure out how to make food a more enjoyable experience on trains and more importantly, a solid source of revenue. A decade ago, IRCTC launched its e-catering services. It now has a network of nearly 500 resta...
Mar 27, 2024•12 min•Ep. 202
Not long ago, Suhail Sameer, former BharatPe CEO had said UPI will do to credit what the likes of companies like BharatPe did to debit a few years back. India has more than 960 million debit cards in the country and only about 85 million credit cards. But conditions in the credit market are headed towards a disruption because of UPI and there’s one area of the whole credit ecosystem where it is undeniably going to change the game. In fact, we could go out on a limb to say that credit via UPI cou...
Mar 22, 2024•10 min•Ep. 201
More than 70% of fraudulent banking transfers in India are KYC-linked scams. A senior official at the Financial Intelligence Unit, a national agency responsible for analysing data on suspect financial transactions informed The Ken that KYC frauds amount to over Rs 900 crore ($108 million) per year. One such fraudster who spoke to us on the condition of anonymity said, ““KYC is an easy trick to pull off. People have heard about banks freezing accounts due to non-compliance with KYC norms. So they...
Mar 19, 2024•9 min•Ep. 200
Have you noticed how easy it has become to get loans? Whether you want to buy a whole house or you want to buy a pair of shoes, you can take an EMI for whatever you want. And of course, in India, an aspirational country, this means we finally have a way to attain the standard of living we have dreamed of. In the year that ended in March 2023 household debt saw its second-highest surge since independence. It now makes up almost 6% of the country’s GDP. But as indebtedness is rising, so are cases ...
Mar 18, 2024•13 min•Ep. 199
Swiggy has always been proud of the culture of innovation that it has fostered over the years for its employees. In fact, it is this very approach that helped it achieve the coveted unicorn status. But with the IPO scheduled for this year and its pursuit to profitability, innovation is no longer being encouraged. It has become way more challenging for newer projects to take off. And though it is natural for a company that is growing bigger to become more risk-averse, for Swiggy, this means a cul...
Mar 15, 2024•10 min•Ep. 198
From shadow-banning, content flagging, suspension and even account deletion, content creators are grappling with a variety of censorship methods on social media platforms—all in the name of maintaining community guidelines. But with social media platforms relying more and more on AI and machine-learning tools identify and remove violating content, even content aimed at creating sexual, social, and political awareness ends up being taken down. And sex-ed and news content creators on platforms lik...
Mar 13, 2024•11 min•Ep. 197
After the pandemic years, Kota’s coaching industry saw an unprecedented boom. Money was pouring in from everywhere–from edtechs to investors. In the last five years, Kota saw about 2 lakh engineering and medical aspirants, on average, arrive from across the country. Kota runs on stiff competition not just among the students but also among the scores of institutes that host and prep them. But since the past four months, Kota’s reputation has been on the line. Student admissions have dropped, with...
Mar 11, 2024•11 min•Ep. 196
As we know, Paytm* is in deep trouble but you know what they say about one man’s loss? It is another man’s gain. When the RBI killed Paytm Payments Bank’s services, it also meant it could not to accept deposits or top-ups in its customer accounts, including wallets and Fastag. Fastag is India’s electronic toll-collection system. Its basically a Radio Frequency Identification (RFID) technology-enabled card that is fixed on a car’s windscreen. It helps in making toll payments directly from the cus...
Mar 08, 2024•9 min•Ep. 195
A few years ago, Blinkit, the grocery delivery platform that was formerly known as Grofers, was on the verge of dying. It was the first year of the pandemic and the demand for quick commerce was at its peak. Grofers wanted to join the bandwagon but it didnt have the money. A year later in June 2021, it got its shot in the arm with a $120 Mn infusion from Zomato. Next thing we knew, Grofers had become Blinkit and also a unicorn company. And then in 2022, Zomato decided to go all the way in and ac...
Mar 06, 2024•10 min•Ep. 194
On Friday, Google removed a bunch of popular apps like Bharat Matrimony, Shaadi.com,Naukri.com and even some dating apps like Truly Madly and Quack Quack from its Playstore. The tech giant said it was because these apps were not compliant with its billing policy. The impact was immediately felt in the stock market. For example, shares of Info Edge that owns Naukri and 99 acres fell 3% on Saturday These apps were scrambling and somehow at the end of the day, the government intervened and we heard...
Mar 04, 2024•11 min•Ep. 193
Tata Motors' EV subsidiary, Tata Passenger Electric Mobility Limited (TPEML), is prepping for a potential IPO in the next year or so. It wants to raise $1-2 billion. In the first half of 2023, Tata Motors dominated 75% of the passenger EV market share in India despite relentless competition from the likes of Mahindra & Mahindra and other newer rivals. The auto-maker's revenue for FY23 stood at almost $8 billion. The not-so-secret secret behind this success Tata Motors' its Xpres-T EV sedan—t...
Mar 01, 2024•10 min•Ep. 192
