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Stock <keyword id="20345915" type="General" weightage="20" keywordseo="exchanges" source="keywords">exchanges</keyword> and <keyword id="20710434" type="General" weightage="20" keywordseo="brokers" source="keywords">brokers</keyword>, catering to retail traders, could be hit hard by the regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">SEBI</keyword>'s proposed measures for Futures &amp; Options (F&amp;O) <keyword id="22748189" type="General" weightage="20" keywordseo="trading-regulations" source="keywords">trading regulations</keyword>, with market volumes slumping 30-40 %, according to reports. If these measures are implemented, the number of investors could decrease, it added. Moreover, discount brokers, who depend heavily on retail investors, are expected to be more affected than traditional full-service brokers. SEBI, in its consultation paper in July, proposed seven measures, including increasing minimum contract size and upfront collection of option premiums, intra-day monitoring of position limits, rationalisation of strike prices, removal of calendar spread benefit on expiry day and increase in near contract expiry margin. SEBI stated that these measures are aimed at enhancing <keyword id="20775670" type="General" weightage="20" keywordseo="investor-protection" source="keywords">investor protection</keyword> and promoting <keyword id="20813757" type="General" weightage="20" keywordseo="market-stability" source="keywords">market stability</keyword> in derivative markets. According to a report by Jefferies, SEBI's proposed measures to reduce the number of weekly option contracts from 18 to 6 could impact around 35% of industry premiums. However, if trading shifts to the remaining contracts, the overall impact can be reduced to 20-25%. Among its 7 proposed measures, IIFL Securities see the highest impact from the withdrawal of <keyword id="22353333" type="General" weightage="20" keywordseo="weekly-options" source="keywords">weekly options</keyword> (only 1 per exchange allowed) as index Options account for 98% of the volumes. IIFL Securities expects the National Stock Exchange (NSE) to be more affected than the BSE because 60 % of NSE's revenue comes from options trading, compared to 40% for BSE. It estimates that by the financial year 2026, NSE's earnings could be reduced by 25-30% while BSE's earnings could drop by 15-18%. Jefferies also believes that the removal of Bankex weekly contract can impact BSE's earnings per share (EPS) by 7-9% over FY25-27. It further said that BSE might see a small decline in earnings, but if trading activity shifts from discontinued products, it could offset the impact or even lead to earnings growth. "We don't see any impact on MCX from these regulations. Within the value chain, discount brokers are likely to be more impacted than traditional full-service brokers given the former's dependence on retail investors," IIFL Securities said. Jefferies believes that clearing members like Nuvama, which caters to institutional players High-Frequency Traders (HFTs), and Foreign Portfolio Investors (FPIs) are less impacted. Rationalizing weekly options to only one benchmark index per exchange will significantly affect the NSE because it currently has four weekly index expiries, with "Bank Nifty" being the most important, contributing to 50 % of its options volume. The change could reduce NSE's overall trading volumes by 30-35 %, IIFL Securities said. On the other hand, BSE is expected to be less affected since it only has two contracts, with Sensex making up 85 % of its volumes in FY24. Even if "Bankex" contributes 30% by FY26, the impact on BSE's volumes is expected to be smaller compared to NSE, it said. Additionally, with just two expiries, BSE might gain market share and experience higher trading volumes, resulting in an estimated 20 % reduction in its overall volumes, it added. Jefferies said that SEBI's proposed measure of increasing lot sizes by 3-4 times over six months could lead to higher costs for retail traders, potentially reducing their participation in the market. The proposed margin increase for options sellers close to expiry could reduce leverage and profitability, especially for retail traders with limited funds. "Finally other measures like increasing ELM (extreme loss margin) around expiry, and withdrawal of calendar spread margin on expiry will increase the margin requirements and thereby could impact the liquidity. Based on our initial estimates we expect a 30-40 % impact on market volume," IIFL Securities said. SEBI Chief Madhabi Puri Buch recently mentioned that households are losing up to Rs 60,000 crore a year in the problematic futures and options segment. Earlier, SEBI research showed retail traders lose money in nine out of 10 trades in the F&amp;O segment Last month, the government in the Union Budget raised the securities transaction tax (STT) on both futures and options trade from October 1 to allay concerns about hyperactive interest in the derivative segment. Before that, the Economic Survey flagged concerns over rising retail investors' interest in derivative trading. The survey stated that speculative trade has no place in a developing country. It also pointed out that the sharp increase in retail investor participation in F&amp;O trading is likely driven by humans' gambling instincts.

SEBI proposed F&O norms to hit exchanges, brokers, says reports

<ul><li>SEBI has revealed a report on the profit and losses suffered by retail traders in the <keyword id="21711508" type="General" weightage="20" keywordseo="equity-derivatives" source="keywords">equity derivatives</keyword> segment.</li><li>As per the report, 93% of investors lost their money in the derivatives segment.</li><li>The report also adds that only 1% of <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> managed to make a profit of ₹1 lakh and above annually.</li></ul> A report by the Securities Exchange Board of India (SEBI) on the profit and losses in the equity derivatives segment has revealed how badly retail investors are performing in the futures and options (F&amp;O) market. There has been an increase in participation in the F&amp;O market by retail investors. With the increased volumes, the government and the Reserve Bank of India (RBI) have been taking steps to keep this under check. “With the increased participation of individual investors in equity and equity derivatives markets, the current study was undertaken to analyse profit and loss patterns for individual traders in F&amp;O during the three years FY22 to FY24, and for all the categories,” said SEBI in its report. This is not the first time SEBI has published such a report. In an earlier report, the watchdog revealed that nearly 90% of retail traders lost money in the equity derivatives segment in FY22. <h2>What are futures and options (F&amp;O)?</h2>Futures and Options (F&amp;O) are financial derivatives used in trading and investing, primarily in stock markets, commodities, and other assets. They allow investors to speculate on the future price movements of underlying stocks or hedge risks. <h2>Retailers lost over ₹1.8 lakh crore in three years</h2>As per the report, retail investors lost a staggering ₹1.8 lakh crore in aggregate losses over the last three fiscal years. Out of the 1 crore investors engaged in the F&amp;O market, 93% of investors or 9 out of 10 investors had an average loss of ₹2 lakh each. The retail investors lost ₹61,000 crore in FY24. As per the report, only 7.2% of retail F&amp;O traders managed to make a profit over the last three years. Among these loss-making investors, around 4 lakh investors suffered an average loss of ₹28 lakh each including transaction costs. What’s more shocking is that only 1% of the investors managed to make a profit exceeding ₹1 lakh after deducting the transaction costs, making one wonder what’s the allure of <keyword id="20852321" type="General" weightage="20" keywordseo="FO-trading" source="keywords">F&amp;O trading</keyword>. Not only are retailers not making any money, but they also spend ₹26,000 per person on average on transaction costs. <h2>It’s not the rich that are losing money</h2>The report further states that 76% of the traders who suffered losses have reported an income of under ₹5 lakh. Nearly half of the traders are under 30 years old, meaning at the start of their careers. Further, over 72% of traders come from small towns. <h2>Addiction? Retailers continue despite losses</h2>Whether it is an addiction or the hope of recovering money, over 75% of loss-making retail investors continued to trade in the derivatives segment despite being in a loss for two years. <h2>Social media influencers to be blamed?</h2>Several social media financial influencers or “finfluencers” have been pushing F&amp;O trading as a get-rich-quick scheme. These financial influencers often use fake trading proofs to exaggerate their returns and push retail investors to enter the derivatives market. The people then push their “courses” or services offering recommendations to users. They charge for this service and users often end up spending money on this after being blinded by the fake proofs. <div type="Article" hostid="261" msid="112926834" title="SEBI brings in new norms to regulate finfluencers" mstype="2" mssubtype="0"></div> The number of retail traders in the F&amp;O market has seen a massive increase, with traders increasing from around 50 lakh in FY22 to nearly 1 crore in FY24. SEBI recently<a href="https://www.businessinsider.in/stock-market/news/sebi-brings-in-new-norms-to-regulate-finfluencers/articleshow/112926834.cms"> introduced</a> new norms to regulate unregistered financial influencers in the country. In three separate notifications, the stock market watchdog has brought in new norms amid growing concerns about the potential risk associated with such finfluencers. While these regulations are a start, there is a need for greater control over these “paid groups” that sell recommendations and the usage of fraudulent income proofs. <h2>Big traders bet on algos</h2>Coming to the large proprietary traders and foreign funds, these made a profit of ₹33,000 crore and ₹28,000 crore respectively in FY24. Out of this, 96% of profitable proprietary traders and 97% of foreign funds used trading algorithms. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-and-airtel-lost-subscribers-in-july-after-tariff-hike-bsnl-records-growth/articleshow/113548793.cms">Jio and Airtel lost subscribers in July after tariff hike, BSNL records growth</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-emerges-as-the-worlds-second-biggest-smartphone-brand-in-august/articleshow/113478178.cms">Xiaomi emerges as the world’s second-biggest smartphone brand in August</a> <a href="https://www.businessinsider.in/business/auto/news/ford-is-returning-to-india-expresses-intent-to-restart-its-tamil-nadu-plant-for-exports/articleshow/113317956.cms">Ford is returning to India, expresses intent to restart its Tamil Nadu plant for exports</a>

SEBI report reveals the ugly truth of F&O trading in India – 93% of retail traders incurred losses

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<ul class="summary-list"><li>The House committee investigating the January 6 insurrection at the US Capitol is seeking more electronic communications.</li><li>Texas Attorney General <keyword id="11972481" type="UNKNOWN" weightage="60" keywordseo="ken-paxton" source="Orion">Ken Paxton</keyword> was one of eight state officials whose communications with the Trump administration are under review. </li><li>The House <a href="https://january6th.house.gov/sites/democrats.january6th.house.gov/files/NARA.8.25.pdf">select committee</a> has also called on seven agencies to release electronic records "relating to the counting of the electoral college vote on January 6, 2021."</li></ul>A House committe investigating the January 6 storming of the US Capitol by supporters of former President <keyword id="11914386" type="UNKNOWN" weightage="60" keywordseo="donald-trump" source="Orion">Donald Trump</keyword> <a href="https://www.businessinsider.com/capitol-riot-committee-seeks-communications-between-trump-allies-2021-8">wants to see communications</a> the Texas attorney general had with administration. Paxton was present at the <a href="https://www.businessinsider.com/trump-claims-executive-privilege-protection-from-jan-6-investigation-2021-8">Trump rally in Washington</a> that preceded the <a href="https://www.businessinsider.com/lawmakers-crying-hearing-january-6-capitol-riot-investigation-2021-7">deadly violence at the Capitol.</a> Attendees were riled up by false claims of election fraud. "We will not quit fighting. We're Texans, we're Americans, and the fight will go on," Paxton said at the rally according to the <a href="https://www.texastribune.org/2021/08/26/ken-paxton-jan-6-investigation/">Texas Tribune</a>. Paxton was one of eight state government officials named in a letter whose communications with the Trump administration are under scrutiny in connection with the Capitol siege.Read more: <a href="https://www.businessinsider.com/who-enabled-donald-trump-presidency-list-2021-2">We identified the 125 people and institutions most responsible for Donald Trump's rise to power and his norm-busting behavior that tested the boundaries of the US government</a>Other high-ranking state officials named in the document included Arizona Gov. Doug Ducey, Georgia Gov. Brian Kemp, and Georgia Secretary of State Brad Raffensperger.The committee, chaired by Democratic Rep. Bennie Thompson, has <a href="https://january6th.house.gov/news/press-releases/select-committee-issues-sweeping-demand-executive-branch-records">issued sweeping public records requests to seven executive branch agencies</a>, including the National Archives, the Department of Defense, the Department of Justice, the Department of Homeland Security, the Department of the Interior, the FBI, the National Counterterrorism Center, and the Office of the Director fo the National Intelligence. The <a href="https://january6th.house.gov/sites/democrats.january6th.house.gov/files/NARA.8.25.pdf">select committee</a> called on the agencies to release electronic records "relating to the counting of the electoral college vote on January 6, 2021, the potential for demonstrations, violence, or attacks in the National Capital Region on or around January 6, 2021, and the events or aftermath of January 6, 2021." Most of those named in the records request included people in <a href="https://www.businessinsider.com/capitol-riot-committee-seeks-communications-between-trump-allies-2021-8">Trump's inner circle</a>, such as his children, staff, and several conservative pundits and media personalities. Paxton did not immediately respond to Insider's request for comment.

House Capitol riot committee wants to see Texas Attorney General Ken Paxton's communications with the Trump administration

<ul><li>Companies have faced significant resistance when they have asked employees to come back to the office. </li><li>The hybrid working model has gained widespread acceptance and is likely to stay. </li><li>Some of the organisations incentivising employees are offering discounted meals, commuting benefits, etc.</li></ul>Life after the pandemic has returned to normal, but for those who had got used to working from home, returning to office is not a preferred option – not yet. Added to that, there is a disparity between how leadership and employees perceive working from home. In June 2020, TCS announced that it will allow 75% employees to <keyword id="123591" type="General" weightage="80" keywordseo="work-from-home" source="Orion">work from home</keyword> even after the pandemic is over. However, they have now backtracked on that claim. TCS has been encouraging employees to get <keyword id="9081434" type="General" weightage="100" keywordseo="back-to-office" source="Orion">back to office</keyword> three days a week and has ruled out a scenario where employees can work 100% from home. Infosys founder Narayana Murthy has warned younger employees against moonlighting and asked them not to work from home. Wipro chairman Rishad Premji recently made a statement saying that more employees should work from the office rather than from their homes. And, it’s not just tech companies. As much as 71% of Indian business leaders said that they prefer their employees to work more frequently from the office as opposed to working from home according to C-Level Linkedin Research. fo However, post-Covid, returning to work is a mindset shift. A report by ADP Research Institute reveals that 76.07% of employees in India would prefer having control over their working hours and would take a pay cut to guarantee the flexibility of working remotely or have the opportunity to alternate between home and office. According to a global survey by ResumeBuilder.com, 66% of employers currently require employees to <keyword id="8954729" type="General" weightage="80" keywordseo="work-from-office" source="Orion">work from office</keyword>, 90% of companies will require employees to return to office in 2023, 21% of companies will fire workers who do not return to the office and 88% of companies are offering incentives to get employees to return, including catered meals, commuter benefits, and higher pay. <cmsannotation type="cmsannotation" annotationid="To work or not to work from the office" comment="subhead2" text="To work or not to work from the office">To work or not to work from the office</cmsannotation> Like companies across the world, Indian companies too are trying to adjust to the new normal. “Companies are aware that employee engagement is crucial to their performance. As a result, they have been willing to add some flexibility to the equation. Occasionally working from home for an office job is acceptable, but only with permission.,” says Mayur Taday, chief business officer, TeamLease Services, a staffing and HR firm. However, companies have faced resistance when asking their employees to come back to the office. “Like many other organizations, we encountered significant resistance from employees, particularly those who were working remotely from their hometowns. However, over time, the situation has evolved. A substantial percentage of our workforce attends the office five days a week, while others enjoy the hybrid approach. However, there is a small group of employees who still show resistance,” says Jayita Roy, VP - HR, Adecco India, a staffing and HR solutions company. Tadays says that businesses have been tolerant and non-obtrusive in permitting a gradual transition over the past nine months, but increased adherence is anticipated in the upcoming fiscal year. “Employees have largely adapted to the new normal as a result. However many who want a permanent WFH have looked for or changed jobs and landed WFH roles,” he adds. Organizations across sectors want their employees to come back to office, but each industry has its nuances. According to Pratik Vaidya, Founder &amp; MD, Karma Global, an HR and compliance organization, when it comes to BFSI, the principle is well settled. Even during pandemic times, the entire banking and financial sectors were working normally with all transactions going online. The need for physical presence of a customer in a bank was negligible and this trend continues even today. Hence the second and fourth Saturdaysh as holidays for banking and government offices are widely accepted and there is no likelihood of any change unless the Banking Associations’ demand for all Saturday offs is met by the government. However, in tech the situation is not as simple. “This is because the tech industry’ demographic holds the younger generation of people in the age group of 23 to 30. The vibrant lot seeks nourishing and nurturing of talent, career path and employee friendly workplace which they can consider as their second home,” says Vaidya. Also he says that the younger lot is more inclined towards work from home or a <keyword id="45402" type="General" weightage="20" keywordseo="hybrid-model" source="Orion">hybrid model</keyword>, a mix of both working from office and a few days at home. The mid-level workforce is fully inclined towards the hybrid model so that they are able to stay focussed on their career growth and balance days in remote working, where they can attend to family and personal demands. The senior level is more inclined towards work from office so that they can focus on organizational goals and drive the purpose and objective of the organization. The year 2023 will thus witness a lot of experimentation in organizations. Some will settle down faster, while others will take a little longer to settle, especially those organizations with multi locational units, multi job roles, multi grades and cadres, multi objectives and goals, as expectations will be huge. <cmsannotation type="cmsannotation" annotationid="Hybrid work could be the future" comment="subhead2" text="Hybrid work could be the future">Hybrid work could be the future</cmsannotation> Linkedin Research has also revealed that 82% Indian leaders believe that hybrid work is expected to stay here for the long term. “It is true that the hybrid working model has gained widespread acceptance and this will become the norm of the future,” says Vaidya. However he adds that it will totally depend on the suitability and needs of an organization. It cannot be a standard practice across. It will vary between industries and organizations. The hybrid model comes with 4 days a week, 3 days a week, 2 days a week, once a week, few times in a month or once in a month. So it will be idealistic for each organization to decide what suits them best taking into account their vision, mission, values, culture, goals and objectives, competition, product demand and penetration, delivery and ultimately customer satisfaction. “The hybrid work model presents an advantageous arrangement for employees, as it empowers them to structure their workweek to suit both their personal needs and the needs of their team,” says Roy. She adds that a substantial percentage of their workforce attends the office five days a week, while others enjoy the hybrid approach. “We don’t see a world where employees return to the office five days a week. For now, it’s one or two days with an emphasis on flexibility,” says Chad Herring, CHRO, Zoominfo, a software and data company. <cmsannotation type="cmsannotation" annotationid="The way ahead" comment="subhead2" text="The way ahead">The way ahead</cmsannotation> We were taught of this motivational theory of carrot and stick, during school days and it holds its relevance even today. In fact, fortune 500 companies CEOs even today use a combination of carrot and stick which helps them to achieve faster progress. An element of compulsion is necessary at the same time when carrot is being offered as an inducement. Some of the organizations incentivising employees are offering discounted meals, commuting benefits, offering a decent raise, improving office space with re-decor, casual dressing on Fridays, team events on weekends, child care facilities, learning training and development programmes, and so on. At Zoominfo, employees are regularly treated to free lunches at the office. There are also snacks and drinks available at all times. For many, the last few weeks marked the first time many employees met their colleagues in person since they were hired, so teams have planned group lunches and outings. It is accepted that the pandemic has changed the way individuals view their work life as the two years of ingrained family style of work at home, and it will take some time for the employees to come out from this cocoon or home shell. Therefore, it will be imperative to build employee centric and customized work plans depending on each organisation's needs and wants, maintaining a healthy balance between the two. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-tank-over-12-as-3-year-shareholder-lock-in-period-ends/articleshow/98601576.cms">Yes Bank shares tank over 12% as 3-year shareholder lock-in period ends</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/how-does-the-oppo-find-n2-flip-stack-up-against-the-samsung-galaxy-z-flip-4/slidelist/98601155.cms">How does the Oppo Find N2 Flip stack up against the Samsung Galaxy Z Flip 4?</a>

Companies want their employees back to office, but it is turning out to be difficult

New Delhi, Feb 27 () Following are the top business stories at 1850 hours: DCM47 BIZ-VODA IDEA-MINIMUM-PACKAGR-hit Voda Idea wants govt to put in place floor data, call tariffsNew Delhi: Vodafone Idea has demanded fixing minimum tariffs for mobile data at Rs 35 per GB, around 7-8 times of current prices, and for calls at 6 paise per minute along with monthly charges from April 1 to enable it pay statutory dues and make its business sustainable. DCM25 BIZ-RBI-CRR-CREDIT-EXEMONCRR-exempted loans: RBI says deduction only on incremental lendingMumbai: Following some banks seeking clarity on the computation of CRR to be exempted for incremental lending to three specified retail loans, the Reserve Bank has said that the deduction is available only on the equivalent incremental credit to these segments. DEL85 BIZ-LD STOCKSMarkets slump for fifth day on coronavirus woes, F&amp;O expiryMumbai: Equity indices reeled for the fifth straight session on Thursday, pressured by a sell-off in bank, IT and energy counters, as the global markets grappled with fears of the coronavirus outbreak turning into a pandemic. DCM46 BIZ-SEBI-GITANJALISebi imposes Rs 5 cr fine on Mehul Choksi, Gitanjali Gems, another individualNew Delhi: Regulator Sebi on Thursday slapped a total fine of Rs 5 crore on fugitive businessman Mehul Choksi, Gitanjali Gems and another individual for violating various regulations, including listing norms.DCM17 BIZ-VODAIDEA-GOVTNot in sound financial state; can meet liabilities only with govt support: Voda Idea New Delhi: Troubled Vodafone Idea has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures, including allowing staggered payment, reduction in levies and implementation of floor prices in the crisis-ridden sector. DCM28 BIZ-CORONAVIRUS-CHICKENSALES'Chicken sales down 50%, prices by 70% in India on coronavirus rumour'New Delhi: Chicken sales in India have come down over 50 per cent and prices by 70 per cent in the last one month as speculation swirled on social media that chicken causes coronavirus disease, denting both demand and prices, a top Godrej Agrovet official said on Thursday. DEL90 BIZ-RUPEE-CLOSERupee settles 6 paise higher at 71.59 against US dollarMumbai: The Indian rupee finished 6 paise higher at 71.59 (provisional) against the US dollar on Thursday amid easing crude oil prices and weakening of the greenback overseas. DCM18 BIZ-ECONOMY-ANIL AGARWALLight at end of tunnel, Indian economy will bounce back, says Anil AgarwalNew Delhi: Indian economy will soon bounce back from its worst showing in 11 years as a steep cut in taxes will help attract investments and the massive infrastructure spending revives economic activity, mining baron Anil Agarwal said.DCM5 BIZ-NCLAT-FLIPKARTNCLAT sets asides insolvency proceedings against FlipkartNew Delhi: The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT to initiate insolvency proceedings against e-commerce major Flipkart. DCM16 BIZ-NEW ZEALAND-INDIANew Zealand for bilateral trade pact with India if New Delhi does not join RCEPNew Delhi: New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP. DCM48 BIZ-LD HPCL-ONGC-ACQUISITIONONGC, HPCL buy out bankers in Petronet MHB for Rs 371 crNew Delhi: State-owned Oil and Natural Gas Corp (ONGC) and its subsidiary Hindustan Petroleum Corp Ltd (HPCL) have bought out lenders in Petronet MHB Ltd, the firm that owns a petroleum product pipeline in Mangalore, for about Rs 371 crore. SHWSHW

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<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>The FTC has hit Facebook with a $5 billion fine over privacy issues.</li><li>Later the same day, Facebook announced its Q2 earnings, and CEO Mark Zuckerberg took the opportunity to discuss regulation.</li><li>He told the analysts on its earnings call that he's worried that if tech doesn't get more regulated, backlash against the industry is going to continue to grow.</li><li>Earlier in the day, Zuckerberg told Facebook employees that the company was committed to change.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>Facebook CEO Mark Zuckerberg says he's worried that if the technology industry doesn't get more closely regulated, backlash against Big Tech is going to keep getting bigger.On Wednesday, the FTC formally announced it had reached a $5 billion settlement with Facebook over charges that it misled its users on privacy issues - a fine that was record-breaking in size but was not accompanied by more fundamental changes in Facebook's business model, prompting some critics to accuse the US regulator of going easy on the company.Hours later, Facebook disclosed its financial results for the second quarter of 2019, and in a subsequent call with analysts Zuckerberg talked about how the company is viewing the regulatory landscape and next steps for the company.His comments provide valuable insight into how Facebook is trying to position itself as a champion of moderate regulation, and the areas that it is hoping to invite regulatory and legislative scrutiny.In his opening remarks, Zuckerberg sought to stress that - contrary to the FTC's detractors - the settlement will purportedly involve significant changes to how Facebook operates."We're making some major changes to how we build our services and run this company," Zuckerberg said on the analyst call. "This will require investing a significant amount of our engineering resources in building tools to review our products and the ways we use data. It will also significantly increase our accountability by bringing the process for auditing our privacy controls more in line with how financial controls work at public companies ... . It's critical that we get this right, and we're going to build it into all our systems. It's going to take time to do this properly, and I expect it will take us longer to ship new products, especially while we're getting this up and running."A full transcript of Zuckerberg's prepared remarks from the earnings call is <a href="https://investor.fb.com/financials/default.aspx">available on the company's Investor Relations website</a>.Later on the call, an analyst asked Zuckerberg to talk more about how he viewed the regulatory landscape across the globe. He responded, in part (emphasis added):"Over the last few years we've focused a lot on a number of social issues. Everything from preventing election interference, to reducing harmful content to protecting privacy, now I'm out talking a lot about data portability, and on each fo these I think there's work that we can do, and certainly have a responsibility to ensure that we perform well on them."But at the end of the day, when our systems are mature, there's still going to be trade-offs between important values that we have - on content, between free expression and civil discourse and in removing hate and things like that, and these are hard questions that on some level we're always going to do the best we can."But we think that having a more democratic standard for setting some of these norms would be helpful ... we believe there needs to be a regulatory framework in place for each of the major issues I just talked about, and my broader concern is that if that doesn't get put in place, then frustration with the industry will continue to grow."So we're trying to do our part to help advocate for a good regulatory framework in each area, and it will come in different forms. So in some places there we be laws passed, in others it might be working with regulators in having structural rules placed on us like this FTC settlement, in other areas it might be self-regulation ... overall we're very focused on it. I do think we're making progress on working through the issues and addressing them. We're, I think, at a much stronger place on elections now, our content systems are much more mature. There's a lot more work to do on each of those but I think we are making progress and as I said, this is a global problem, not just a US one, so working with folks who are across Europe and other continents as well is important."Facebook's communications team also emphasised this on Wednesday by taking the unusual step of sharing a video of Zuckerberg addressing employees at an internal "Town Hall" meeting, telling them: "This is a new chapter for the company ... and we're gonna change the way that we operate across the whole company, from the leadership down and the ground up."In short, Facebook is trying to signal to investors (and, it seems, employees) that it has a handle on the issues that have bedeviled it for the past two years, while making clear that it's not yet perfect. And it is hoping to guide the regulatory conversation towards areas where it believes it can make meaningful changes that will satisfy demands for reforms of the industry - without undermining its overall market power.Some of the staunchest critics of tech, including presidential hopeful Elizabeth Warren and Facebook cofounder Chris Hughes, are calling for antitrust action to be taken against Facebook (and other tech firms) - a regulatory remedy that would have far more serious consequences for the company.

Mark Zuckerberg told investors that regulation is the best cure for the tech backlash, just hours after the company was slapped with a $5 billion FTC fine

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Wayne RosingIllustration of what this supernova would look like from the surface of an exoplanet 10,000 light years away.</div></div></div>Last June, a team of astronomers, armed with a network of telescopes across the globe, spotted an unusually bright object, and upon further investigation, discovered that they had stumbled on the most powerful supernova on record.What's more, experts think that they might never see a supernova this bright ever again.Supernovae are a type of cosmic explosion generated by high-mass stars, usually those which are nearing the end of their lives. The explosion annihilates most of the star as well as anything nearby.While your average supernova generates roughly 1044 joules of energy - about the same amount that our sun produces over 10 billion years - a super-luminous supernova, like the one discussed here, can explode with up to 50 times more energy.This particular super-luminous supernova, called ASASSN-15lh, doesn't just break the record for most powerful - it obliterates it. On average, it outshines the average supernova by 200 times, the team reported in a paper published in this week's issue of <a href="http://www.sciencemag.org/lookup/doi/10.1126/science.aac9613">Science</a>.This goes so beyond the norm that one of the astronomers who first observed it wasn't sure what to make of it."To my surprise, I was not able to even tell for sure it was a supernova. My first reaction was: 'This is interesting, we should get more data,'" Nidia Morrell, who works with the Las Campanas Observatory in Chile and is a co-author on the paper, said in a <a href="http://www.eurekalert.org/emb_releases/2016-01/ci-dme011116.php">press release</a>. "It was only when we obtained higher resolution [data] from the Southern African Large Telescope and the Magellan Clay Telescope that I realized how distant the host galaxy is and consequently, how luminous the supernova."Unfortunately, we could never have hoped to see the explosion with our naked eye because its source is so distant - it's coming from a galaxy 3.8 billion light years away. Here's what that galaxy looked like, through a telescope, before (left) and after (right) the explosion:<div class="KonaFilter image-container display-table full"><div><div class="image on-image">The Dark Energy Survey, B. Shappee and the ASAS-SN team</div></div></div> The network of telescopes, named the All Sky Automated Survey for Supernovae (ASASSN), is meant to sniff out bright objects like these, and has discovered over 250 supernova.At peak intensity, astronomers calculated the signal to be shining with a mind-boggling intensity of 570 billion times brighter than our sun. For a better idea of how bright that is, if you could combine all 100 billion stars in our Milky Way Galaxy into one enormous, glowing sphere, this super-luminous supernova would still shine 20 times brighter."We have to ask, how is that even possible?" Krzysztof Stanek, who is the team's co-principal investigator and a professor at Ohio State University, said in a <a href="http://www.eurekalert.org/emb_releases/2016-01/osu-wi1010816.php">press release</a>. "It takes a lot of energy to shine that bright, and that energy has to come from somewhere."<h2>A long-standing mystery</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://en.wikipedia.org/wiki/Hypernova#/media/File:SN_2006gy,_NASA_illustration.jpg">Uploaded by Tom to Wikipedia</a>Illustration of a hypernova.</div></div></div>Stanek's question gets at the heart of a mystery that's been perplexing astronomers for over a decade, ever since they first began searching the skies for these super-luminous events at the end of the '90s. They want to know what physical processes are at work that cause explosions so beyond anything we can fathom on Earth.Generally, astronomers think they have a good handle on what causes your average supernova, but when it comes to hypernovae (another name fo super-luminous supernova), they're somewhat stumped."The honest answer is, at this point, that we do not know what could be the power source for ASASSN-15lh," Subo Dong, the paper's lead author and an astronomy professor at Kavli Institute for Astronomy and Astrophysics at Peking University, <a href="http://www.eurekalert.org/emb_releases/2016-01/osu-wi1010816.php">told Ohio State</a>.One theory is that a type of extremely dense star, called a neutron star, is at the source of it all. Neutron stars are some of the densest objects in the universe and are thought to be the only thing that's left of a star once it's gone supernova.Many neutron stars are believed to be spinning on their axis - the same way Earth rotates on its axis. And in some neutron stars, the spinning action is so fast that it spawns powerful magnetic fields. Astronomers call these cases magnetars.One theory is that the magnetic fields of magnetars are so strong that they could fuel the power necessary to generate the intense luminosity of observed hypernova. But if this is the case, it would also mean that in order to produce the type of luminosity seen from ASASSN-15lh, the magnetar would have to be spinning at 1,000 times a second."Given those constraints," Todd Thompson, who is professor of astronomy at Ohio State but wasn't part of the team, said in a <a href="http://www.eurekalert.org/emb_releases/2016-01/osu-wi1010816.php">press release</a>. "Will we ever see anything more luminous than this? If it truly is a magnetar, then the answer is basically no." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/nasa-sev-test-drive-space-exploration-vehicle-rover-2016-1">We drove NASA's monster Mars car with moves that'll blow Ferrari out of the water</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="loc2E1MDE6d2SNKYr3XgaM2aduE-_A31" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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Mark Zuckerberg told investors that regulation is the best cure for the tech backlash, just hours after the company was slapped with a $5 billion FTC fine

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