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After the <keyword id="479174" type="General" weightage="20" keywordseo="Karnataka-cabinet" source="Orion">Karnataka cabinet</keyword> approved a bill that mandates 100% <keyword id="19914887" type="General" weightage="20" keywordseo="reservation" source="keywords">reservation</keyword> for Kannadigas in Category C and D <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in all industries in the state, businessman and philanthropist TV <keyword id="20076594" type="General" weightage="20" keywordseo="Mohandas-Pai" source="keywords">Mohandas Pai</keyword> slammed the state government saying that <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword> Kannadigas is the only way to promote them for jobs rather than giving them reservation. "If you want to promote Kannadigas for jobs, spend more money on higher education. Give training to them. Spend more money on skill development. Spend more money on internships, spend more money on apprenticeship programs. So they all become skilled. Not like this. What are you trying to achieve by this?," Pai said, speaking on Wednesday. Pai, the Chairman of <keyword id="22445179" type="General" weightage="20" keywordseo="Manipal-Global-Education-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Manipal Global Education Services" meta.hostid="261" meta.entityid="Manipal Global Education Services">Manipal Global Education Services</keyword> said that the Bill is "fascist" and also unconstitutional. "This bill should be junked. It is discriminatory, regressive and against the constitution @Jairam_Ramesh is govt to certify who we are? This is a fascist bill as in Animal Farm, unbelievable that @INCIndia can come up with a bill like this- a govt officer will sit on recruitment committees of the private sector? People have to take a language test?" he had earlier said in a post on 'X'. <keyword id="19896017" type="General" weightage="100" keywordseo="Karnataka" source="keywords">Karnataka</keyword> minister Priyank Kharge however, assuaged the fears of the industrialists saying that wide consultation will be held before the rules of the bill are formulated. "The bill has been brought in by the labour department. They are yet to consult with the industry, the Minister of Industry and the Department of Information Technology. I am sure that before coming up with the rules of the bill, they will have due consultations with the respective ministries and more importantly, a wider consultation with the industry. So there is no need to panic. We are going to safeguard the jobs for the state as well as encourage investments in the industries with their consultation," Kharge said. <keyword id="20582906" type="General" weightage="20" keywordseo="karnataka-industries" source="keywords">Karnataka Industries</keyword> Minister MB Patil said any apprehensions will be resolved in meetings with the Chief Minister "I have seen that many people have apprehension regarding this. We will resolve this confusion. We will sit with the CM and resolve this so that it does not have any adverse effect," Patil told ANI. On Tuesday, the Karnataka cabinet approved a Bill that seeks to reserve 50% of management jobs and 75% of non-management jobs for locals in the private sector. The bill also seeks 100% reservation for locals in "C&amp;D" grade government jobs. On Wednesday, several industry leaders in the state objected to the move saying that it is "discriminatory" and raised apprehensions that the tech industry may suffer.

Spend money on skilling, says Mohandas Pai on Karnataka bill seeking job reservations for Kannadigas

Online job platform <keyword id="188512" type="General" weightage="20" keywordseo="monster-com" source="Orion">Monster.com</keyword> on Wednesday said that it has raised Rs 137.5 crore in a funding round led by <keyword id="6491998" type="General" weightage="20" keywordseo="mohandas-pai" source="Orion">Mohandas Pai</keyword> of Meridian Investments and Akash Bhanshali of Volrado Venture Partners, with participation from Quess, its parent company. The online talent platform said that the funds will be utilised towards enhanced investments on product development and marketing in India, SEA and Middle-East markets. Post the funding, Monster.com is now valued at $100 million. "The last year has been incredible for the company, achieving very healthy growth across all metrics. We have an exciting product and business road map in line with our view on how hiring will evolve in the next few years," said Sekhar Garisa, CEO, Monster.com, APAC &amp; ME. In 2018, Quess Corp acquired Monster.com's businesses in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, the UAE and Kingdom of Saudi Arabia. According to Pai, the next two years will see a huge increase in available jobs, thanks to high economic growth, and job seekers will find a high-quality platform to plan their careers. "As employers also prepare for a new decade and an employee-first mindset, the platform will help them create a differentiated experience and build deeper relationships with their teams from day one," Pai said. Monster.com has over 60 million active users in India. "Quess acquired Monster for an investment of Rs 145 crore and embarked on a 'Digital First' journey with the objective of creating long-term value for our shareholders and clients," said Ajit Isaac, Executive Chairman, Quess. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/check-out-snapdeal-top-executives-like-kunal-bahl-rohit-bansal-salary-for-year-2021/slidelist/88426612.cms" data-type="tilCustomLink">Snapdeal cofounders Kunal Bahl and Rohit Bansal will take home up to ₹5 crore in salaries from this year</a> <a href="https://www.businessinsider.in/tech/enterprise/news/apple-and-its-patents-in-2021-heres-what-the-tech-giant-could-bring-to-you-in-the-future/articleshow/88426551.cms" data-type="tilCustomLink">Apple and its patents in 2021: Here’s what the tech giant could bring to you in the future</a> <a href="https://www.businessinsider.in/science/space/news/scientists-find-more-evidence-of-possible-life-on-venus/articleshow/88425043.cms" data-type="tilCustomLink">Scientists find more evidence of possible life on Venus</a>

Job hunt platform Monster.com raises ₹137.5 crore from Mohandas Pai, others

Expectations from Modi's package - Here's what Raghuram Rajan, Amitabh Kant, and others expect

<keyword id="6448574" type="PERSON" weightage="20" keywordseo="n-r-narayana-murthy">N R Narayana Murthy</keyword>, the co-founder of software giant <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> who chairs a Sebi panel on alternate investment policy advisory, on Tuesday pitched for pension funds and banks to invest money in Indian startups. Speaking at the annual Tiecon event, Murthy said a bulk of the money which gets invested as risk capital in the upcoming companies is from abroad and there is a need for domestic money to play an important role in this. At the same event, Murthy's former colleague at Infosys T V <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword>, who is now associated with Ispirit, an advocacy group for startups, said only a tenth of the USD 60 billion invested into Indian startups since 2014 has come from domestic investors. Pai warned that "we risk the prospect of turning into a digital colony" by 2025, seeking to draw parallels with imperialism.
 He said there will be 1 lakh startups in India with a collective valuation of over USD 500 billion by 2025. There will be at least 100 unicorns among them and over 65 of them will be majorly owned by foreign investors.
 "This is one of the most important issues that we have been discussing (at the Sebi panel). That is, what are the policy changes that are required to make sure that there is more of Indian and domestic money coming into the startup sector because today it is by and large from abroad," Murthy said.
 "To do that, pension funds must be allowed, corporations must be allowed, banks must be allowed," he added.
 Pai sounded more disappointed with Indian billionaires who are willing to invest in real estate and even bank deposits, but have a tendency to overlook the startup sector.
 In an apparent reference to the spate of frauds, Pai said the billionaires also tend to pass the risk on money invested to banks.
 He said the biggest letdown has been from financiers in Mumbai, and asked startup entrepreneurs to educate such professionals on the need of the hour. 
 Pai said why Indian pension funds or insurance companies cannot invest, questioning how companies in the same sector from abroad are coming in and taking interests here.
 Meanwhile, Murthy also clarified on a recent controversy over cutting short his speech at an event where he shared stage with American e-commerce giant Amazon's chief executive <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>. He said Bezos had come on time to the venue, but the "indisciplined" crowd at the venue in New Delhi mobbed the entry gates which resulted in the delayed start for the event.
 Bezos was very understanding and smiled at the act of cutting short the speech, Murthy said, adding that this is so because the visiting honcho is himself a disciplinarian. See also: <a href="https://www.businessinsider.in/business/news/with-kapil-wadhawans-arrest-the-family-is-now-accused-of-scams-worth-over-a-billion-dollars/articleshow/73713230.cms?src=hp_ts">With Kapil Wadhawan’s arrest, the family is now accused of scams worth over a billion dollars</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-what-can-finance-minister-nirmala-sitharaman-do/articleshow/73691622.cms?src=hp_wh">Watch: India’s ‘make or break’ budget 2020⁠— once-in-a-career crisis offers Finance Minister Nirmala Sitharaman a fertile ground for creativity</a>

India's tech icon Narayana Murthy says India may become a 'digital colony' if startups have to rely on foreign funds

<ul><li><keyword id="2623347" type="PERSON" weightage="20" keywordseo="Biocon-chief-Kiran-Mazumdar-Shaw">Biocon chief Kiran Mazumdar Shaw</keyword> and former Infosys Director <keyword id="6491998" type="PERSON" weightage="20" keywordseo="mohandas-pai">Mohandas Pai</keyword> told a newspaper that they were told hold back their criticism of the Modi government by an official.</li><li><keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword>, chairman of Indian conglomerate Bajaj Group, said that the auto industry’s going through a rough patch because of lack of demand and no private investment. </li><li>Over the months, more and more stock market investors have taken to Twitter to talk about the government’s unfriendly market policies. </li><li>Adi Godrej, chairman of the Godrej group, had said that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”.</li></ul>Indian companies have been betting big on PM <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>. And why not? In 2017-18, a lion’s share of <a href="https://www.business-standard.com/article/economy-policy/data-shows-bjp-bagged-92-of-corporate-donations-to-political-parties-119011701405_1.html">corporate</a> political donations went to his party, BJP. Now, they are livid. The latest to join the bandwagon of angry corporates is Kiran Mazumdar shaw who made a shocking revelation on Sunday. A government official reportedly told her not to speak of harassment by tax officials in relation to <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">the unfortunate death of VG Siddhartha</a>, the founder of <keyword id="46195" type="COMPANY" weightage="20" keywordseo="Cafe-Coffee-Day">Cafe Coffee Day</keyword> outlets. "“He just said that ‘please don’t make such statements. Even Mohandas Pai should not. I am telling you as a friend’,” the Biocon chief told The Telegraph. Even Mohandas Pai, the former Infosys director who is currently a private investor who backs startups, chimed in. "Lots of people get such threats," he told the newspaper. Both of them have been avid supporters of Narendra Modi in the past and bitter critics of the Congress-led United Progressive Alliance government that ruled from 2004 to 2014. “I used to speak out always. It doesn’t matter if UPA is in power or the NDA,” Shaw said urging the corporate world to speak up. Earlier, Rahul Bajaj, the chairman of Indian conglomerate Bajaj Group. During his company’s Annual General Meeting, he spoke of the government’s role in the weak sales of the auto industry. Fall from Heavens “There is no demand and no private investment, so where will growth come from? It doesn’t fall from the heavens. The auto industry is going through a very difficult period. Cars, commercial vehicles and two-wheelers are going through a rough patch,” Bajaj added. The Budget has not cheered them either. The government imposed a tax on super rich, and <a href="https://www.business-standard.com/article/markets/sebi-s-separate-fpi-registration-plan-draws-flak-from-investors-119061901134_1.html">Business Standard</a> had reported that market regulator SEBI mandated separate registrations for Foreign Portfolio Investors. The resentment against these rules is rising. The slow pace of economic growth, and their credibility isn’t helping either. Until now, corporate giants stayed out of the debate over credibility of government's growth data between <a href="https://www.businessinsider.in/131-cas-respond-to-letter-from-economists-disputing-govt-gdp-data/articleshow/68463411.cms">108 economists</a> and 131 chartered accountants. But, now they are not holding back. “The government may or may not be saying this but there are clear cut markings from the International Monetary Fund (IMF) and World Bank, which shows a decrease in growth in the last three-to-four years. Like any government they would like to show a happy face, but reality is reality” Rahul Bajai <a href="https://www.moneycontrol.com/news/technology/auto/angry-rahul-bajaj-criticises-centre-for-falling-demand-private-investment-4259711.html">said.</a> Meanwhile, his son Rajiv Bajaj had said government’s policies on<a href="https://www.moneycontrol.com/news/technology/auto/governments-policy-on-electric-vehicles-has-left-everybody-confused-rajiv-bajaj-4252151.html"> electric vehicles</a> had left everyone confused. Complaints in chorus The Bajajs, Kiran Mazumdar Shaw, and Mohandas Pai are not alone. Adi Godrej, chairman of the Godrej group, too <a href="https://www.firstpost.com/business/industry-leaders-reaction-on-budget-2019-adi-godrej-says-budget-is-not-growth-oriented-stock-market-comes-down-considerably-6940161.html">said</a> that the Budget presented by Finance Minister Nirmala Sitharaman is not “growth-oriented”. <a href="https://www.ndtv.com/india-news/adi-godrej-rising-intolerance-hate-crimes-can-seriously-damage-growth-2068996">Godrej also touched upon a sensitive subject </a>saying that rising intolerance in the country is also affecting growth. Investor and author Basant Maheshwari recently took to Twitter to say, “Lowering GST and other charges on Electric Vehicles won’t create demand. There is just no infrastructure. People won’t change preferences like that plus EVs aren’t cheap. However, it will surely lead to a fresh bout of short selling in the frontline auto names? That’s all.” This is an unexpected move for top corporates who had stayed away from government bashing even during demonetisation in 2016. Clearly, the tables have now turned. Porinju Veliyath, founder and CEO of Equity Intelligence, after the Budget said, “India dreams a $5 trillion, graft-free, double-digit, free-market-driven, rule-based and liberal economy by 2025! This is very much doable, but I am afraid parts of the Budget - the direction it points, can take us back to 4% GDP growth rate!” Center of the Left Veliyath had even written a letter to his investors, explaining the poor performance of his portfolio. "Some of the budget provisions did not acknowledge the cardinal principles of a free-market economy," Veliyath said in his letter on Thursday (July 18) adding that the positives of the continuity in government <a href="https://www.businessinsider.in/india-market-news-porinju-veliyath-blames-the-budget-for-bear-market-in-smaller-stocks/articleshow/70277012.cms">has been lost with the market unfriendly provisions in the Budget. </a> When big money backed Modi with hopes of market reform, they made a bad bet on a party whose ideology is rooted in ‘Swadeshi’, which can be loosely translated to home-grown conservatism. As the commentator and author <a href="http://www.newindianexpress.com/opinions/columns/shankkar-aiyar/2019/jul/21/the-bjps-socialistic-conservatism-2006971.html">Shakar Aiyar argued recently</a>, “In popular perception, the BJP was seen as the home of right of centre economics. And the centre continues shifting to the left.” SEE ALSO: <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">A former Prime Minister cried on national TV for VG Siddhartha-- the untold tales of politics and privilege may die with India’s coffee baron</a> <a href="https://www.businessinsider.in/cafe-coffee-day-founder-vg-siddhartha-letter-to-board-of-directors/articleshow/70443951.cms" data-type="tilCustomLink" target="_blank">Full text of the letter written by Cafe Coffee Day founder VG Siddhartha before he went missing</a>

Narendra Modi has a new problem – big corporates and moneybags are angry

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>' former CFO, T V <keyword id="6491998" type="PERSON" weightage="100" keywordseo="Mohandas-Pai">Mohandas Pai</keyword> today exhorted institutional investors to raise questions about the huge cash pile on the company's books and governance issues, as investors have an obligation to protect their investment. 
 "Capital allocation is very important. Institutional investors should raise those questions. They have a duty...institutional investors should raise questions on governance because it concerns the company's reputation," <keyword id="249145" type="PERSON" weightage="20" keywordseo="Pai">Pai</keyword> told <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> in an interview. <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">ALSO READ: ​ Infosys employees in stress: Promotions and Increments may take a hit</a> 
 
Infosys had liquid assets, including cash and cash equivalents and investments worth Rs 35,697 crore (about $5.25 billion) on its books at the end of <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">December 2016</a>. 
 
He asserted that founders, who hold 13% stake in the Bengaluru-based company, had raised these questions like any other investor would. 
 "The founders are investors like anybody else. They hold 13 per cent stake. They have every right to question the <keyword id="6364382" type="ORGANIZATION" weightage="20" keywordseo="Board">Board</keyword>... Since the largest shareholder has sought clarification, they must also seek detailed clarification," he said. 
 
Pai, along with former colleague <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">V Balakrishnan</a>, had sought a USD 1.8 billion buyback in 2014 just as CEO <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> was taking over. 
 
"We had raised the issue. We hope that other institutional investors will also raise their voice because the institutional investors have an obligation to protect their investment," he said. 
 
Pai explained that shareholders all over the world ask questions about capital allocation when growth slows down for listed companies, that have too much cash on books. 
 
"All over the world, for listed companies when growth slows down and there is too much cash, shareholders will ask what are they doing with the cash...about capital allocations. Most Boards around the world will respond with a buyback to show confidence in the company and stabilise the stock price," he said. 
 
Pai expressed hope that institutional investors who have a "fiduciary responsibility" to their unit holders, will also ask the same questions, as has been in the case of <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">Cognizant</a>. 
 Last week, <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>'s Board approved a plan to return USD 3.4 billion to shareholders over the next two years through share buybacks and dividend, following investor activism. 
 
"Why can't Infosys do something like Cognizant has done. That is very important for shareholders. I hope they ask him that at a time when growth is slowing down," he said. 
 
He said that while reports of the rift would not impact the company's performance but there is "some reputational damage because of this" and pointed out that the board "has to remedy this situation". 
 Over the last few days, Infosys has come under fire from founders like N R <keyword id="6355623" type="PERSON" weightage="20" keywordseo="Narayana-Murthy">Narayana Murthy</keyword> who have publicly raised concerns on alleged corporate governance lapses at <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">Infosys.</a> 
 
Infosys, however, has denied the allegations and said that its board is fully aligned with the strategic <a href="http://www.businessinsider.in/infosys-employees-in-stresspromotions-and-increments-may-take-a-hit/articleshow/57095393.cms">direction of Sikka </a>and is very "appreciative of the initiatives taken by him in pursuance of this transformation".

Infosys should clarify capital allocation policy: Mohandas Pai tells investors

A lawsuit has been filed against <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> in the US by former immigration head. He has accused Infosys of discrimination against non-South Asian employees. <keyword id="887978" type="PERSON" weightage="20" keywordseo="Erin-Green">Erin Green</keyword> has also demanded a trial by jury and filed his petition before a US district Court in the Eastern District of Texas on June 19. In his case, Green has accused two senior company officials, Head of Global Immigration Vasudeva Nayak and Executive Vice President and Global Head of Talent and Technology, Binod Hampapur. The 53-page lawsuit pointed out that from October 2011 to June 28, 2016, the plaintiff was employed by the defendant in Plano, Texas and his experience with Infosys demonstrates the "discriminatory nature of Infosys's employment practices". Green's counsel Kilgore and Kilgore, PLLC has said, "Plaintiff was terminated because of defendant's obsessional preference for employees of South Asian race and national origin, usually Indian, and as retaliation for reporting Nayak and Hampapur's discriminatory treatment of himself and others on the basis of race and national origin." "His termination was in violation of defendant's policy which requires progressive warnings or placement on a performance improvement plan prior to termination," he claimed. "Plaintiff received no such warnings, and had no discussions with employee relations regarding any of the conduct related to the stated reason for his termination prior to his termination...Plaintiff had no disciplinary entries on his official work record during his four-and-a-half-year tenure," he said. Infosys co-founder <keyword id="6491998" type="PERSON" weightage="20" keywordseo="Mohandas-Pai">Mohandas Pai</keyword> told PTI, "The filing of lawsuit by Green against Infosys alleging employee discrimination will not have any bearings on the company's intent to hire 10,000 Americans in next two years." "It will not affect the recruitment because it is very difficult to hire 10,000 people in two years. It's a tall target, and one quarter is nearly over. These are statements that one can make to please politicians," he said.

Infosys sued in US over discrimination. Here are the details

Former <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> CFO T.V. <keyword id="6491998" type="PERSON" weightage="20" keywordseo="Mohandas-Pai">Mohandas Pai</keyword> said only B.Tech degrees in future in IT sector won’t suffice and young graduates will have to go for specialised courses. He said in order to get a good job, B.Tech graduates will have to do specialisation. "My advice to all the people in colleges: please do M Tech and specialise, and learn <keyword id="1574956" type="UNKNOWN" weightage="20" keywordseo="coding">coding</keyword> on your own by taking extra classes, because in future most companies will hire you based on your coding knowledge. They are not going to catch you raw and give you training for six months and pay for it. Why should they waste their time? They will test you on your coding skills and if you know very good coding, they will hire you," Pai told PTI. When asked about salary of freshers not growing in the <keyword id="6363148" type="TECHNOLOGY" weightage="20" keywordseo="information-Technology">Information Technology</keyword> (IT) industry in the past two decades, Pai termed it as a "great tragedy". This is because the whole industry is not growing at a fast pace, he said. Global spending in IT is projected to grow only two per cent this year, a figure which was 3-4 per cent earlier. "That is also having an impact," he said. IT industry is expected to hire 1.5 lakh to 1.6 lakh people this year, he said.

B.Tech degrees won’t suffice in future in IT sector, says this IT veteran

Industry veteran <keyword id="102497" type="PERSON" weightage="20" keywordseo="T-V-Mohandas-Pai">T V Mohandas Pai</keyword> feels that due to <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword>, about 20 crore middle class young people would have no jobs or fewer jobs by 2025. 
 "By 2025 there will be 200 million young people in the age group of 21-41 with no jobs or less jobs and nobody knows what to do with these people. Government policy does not know what to do as they don't have proper data. We are going to have demographic nightmare,” Pai, who is the chairman of <keyword id="852747" type="COMPANY" weightage="20" keywordseo="Manipal-Global-Education-Services">Manipal Global Education Services</keyword>, told ET. 
 
Nearly 52% of people are employed in agriculture as compared to 62% 10 years earlier and number of population which depends on services and industries is growing at 10%. 
 
"Disparity between people in agriculture and in service industry is widening and that is getting social attention all across India which has led to various agitation across states," Pai told ET. 
 
He said that more and more companies are relying on automation and artificial intelligence in machine and this will lead to loss in jobs. 
 
"Rule based jobs will get eliminated. Much of middle class people are involved in rule based jobs. Rule based jobs can be made by algorithms. Machines are still not creative. People who are creative will remain," Pai said. 
 
He also feels that in sectors like banking too, jobs are shrinking because of automation of payment system with the help of ATMs, digital payments. 
 
"Bank branches and employment are now shrinking in America. In India in last 15 years, banks have growth 10-15 times in assets and liabilities but employment has grown 5 per cent. In India very soon there will be robo finance which will search all portals and give you bank loan quote in half an hour," Pai told ET.

Automation, AI will make 20 crore young Indians jobless: Mohandas Pai

India’s digital content creator <keyword id="3169142" type="UNKNOWN" weightage="20" keywordseo="Pocket-Aces">Pocket Aces</keyword> raised $3 million from a clutch of global investors led by <keyword id="270604" type="ENTERTAINMENT" weightage="100" keywordseo="Sequoia">Sequoia</keyword> Capital India, North Base Media, TV <keyword id="6491998" type="PERSON" weightage="20" keywordseo="Mohandas-Pai">Mohandas Pai</keyword> led Aarin Capital, FreeCharge, etc. 
 Pocket Aces, founded in 2014 by <keyword id="3964608" type="PERSON" weightage="20" keywordseo="ashwin-suresh">Ashwin Suresh</keyword> and Anirudh Pandita, aims at creating high quality local content for millennials. 
 “With increasing mobile internet penetration, attention minutes have moved to social media and messaging platforms. Pocket Aces aims to be a leader in this new ecosystem. We are laying the foundation for the nascent <keyword id="857237" type="ORGANIZATION" weightage="20" keywordseo="digital-entertainment">digital entertainment</keyword> industry in India and look up to companies like Pixar as benchmarks for creative innovation,” said Suresh. 
 
Pocket Aces is reaching an audience of over 20 million people on a weekly basis. 
 
The company’s brands - FilterCopy, Dice Media, and Gobble have completed over 180 million organic video views on the back of heavy social sharing and high retention rates. 
 
T.V. Mohandas Pai said, “We are tremendously excited to be working with them to help push for the evolution of content consumption online, and we're looking forward to the many more creative ideas to b e released by the team.”

Pocket Aces raises $3 million in fresh funding from Sequoia Capital, Infosys Founders

It's normal for marketers to discuss <keyword id="2410330" type="UNKNOWN" weightage="20" keywordseo="Marketing-automation">marketing automation</keyword> and email marketing conversely. The truth of the matter is that email marketing is a part of marketing automation, yet the two are a long way from the same thing. Marketing automation joins divergent client acquisition and retention channels to adjust to fit in with your organization's conversion pipe. 
 Marketing automation has really been around since the 1980s. The utilization of programming to consequently embed names and addresses from your database onto the letters and envelopes you wish to send to customers via mail has been a pillar of direct marketers for a considerable length of time. The distinction amongst then and now is the idea of 'continuous' and the incomprehensible measure of data accessible to organizations on their clients by means of different digital and offline channels. Automation can not only help reduce staff costs but can also boost customer lifetime value through up-sells and cross-sells. To empower this structure through technology <keyword id="3053798" type="UNKNOWN" weightage="20" keywordseo="Wigzo">Wigzo</keyword> came into being. 
 
What is Wigzo 
 
Founded by Umair Mohammed, Himanshu Kaushik, Vikrant Khushu, Shamail Tayyab and Mohammad Atyab in 2013, the company works as a next generation Marketing Automation Platform that helps marketers send Smarter Communication online or through mobile applications. The platform based on SoLoMo – Social, Location and Mobile, provides real time content in the emails or push notifications for marketers. Umair stated that Wigzo’s was incepted with an aim to solve a major issue of seamless data management, and utilizing it to send intelligent communication across Web and in App. 
 
“We simplify big data for brands and improve the communication between the company and its users. Our aim is to modernize the use of data for the brands as much as we can,” he added. Basically, with the assistance of prediction technology and machine learning, Wigzo checks any event about the visitor’s search, scanning designs, time spent, item data, area, and so forth to foresee plan of the crowd. 
 
The cool new stuff Wigzo is upto 
 
Talking to Umair about future and upcoming services, he said, “We have recently revamped our machine learning algorithm to a revolutionary Customer Intelligence Suite. The upgraded version will change the dynamics of reporting and analytics when it comes to digital marketing and ensure increased customer acquisition for brands. The new dashboard is one of the most mature set of automation tools incorporating a full suite of features that not only help marketers manage basic communication campaign, but also provides everything a marketer needs: Dynamic Email, Notifications, User Retention, Real Time Engagement and more. Our aim is to streamline the hassle of data management for every marketer.” 
 
Minting it 
The company works on a typical subscription based model which incorporates all features (as Umair claims). Umair stated that they’ve also tiered based pricing, now this depends on the number of users of a client. The costing varies on volume and user base. 
 
The company claims to have over 35 clients including Ketto, Kaaryah, and Little Black Book. Further Umair specified that they’re looking at 100+ clients across industries like: banking, ecommerce, content &amp; gamming across the country and in UK. 
 The company raised $500,000 in pre-series A round of financing led by Aarin Capital Partners and <keyword id="6491998" type="PERSON" weightage="20" keywordseo="Mohandas-Pai">Mohandas Pai</keyword>, Chairman of Manipal Global Education. In seed round they had raised $100,000 from by Nikunj Jain, Outbox ventures and <keyword id="2939297" type="PERSON" weightage="20" keywordseo="Ritesh-Malik">Ritesh Malik</keyword>. 
 
Umair - AI &amp; Data 
 
In this digital age where everything is largely dependent on the use of technology, companies are leveraging AI to reinvent themselves and scale their businesses quickly. AI is becoming a key enabler of the changes that businesses need to make and is helping them manage complexity of the constant digital change. 
 
We follow a very simple rule - Data should not reside in silos, because it takes the intelligence away. We algorithm provides actionable intelligence around data so marketer can leverage it to interact with their audience in real time, and reach them with the right message on the right device. Our USP is to take the marketers beyond page views and basic analytics which also set us apart from the rest of the players in the market.

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