Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Dubai-based 27th Sports on Saturday signed <keyword id="15688421" type="General" weightage="80" keywordseo="toyam-sports-limited" source="Orion">Toyam Sports Limited</keyword> (TSL) as the title sponsor for the Indian cricket team's tour of <keyword id="6354759" type="General" weightage="100" keywordseo="bangladesh" source="Orion">Bangladesh</keyword>.</li><li><keyword id="13937" type="General" weightage="50" keywordseo="rohit-sharma" source="Orion">Rohit Sharma</keyword> will lead <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in both ODIs and Tests as they tour Bangladesh for the first time since 2015.</li><li>The first two ODI matches between Bangladesh and India will take place on December 4 and 7.</li></ul> Dhaka, Dubai-based 27th Sports on Saturday signed Toyam Sports Limited (TSL) as the title sponsor for the Indian cricket team's tour of Bangladesh starting from December 4 at Sher-e-Bangla National Cricket Stadium in Mirpur, Dhaka. The tour will consist of three ODIs and two Tests. "Cricket is very popular in Bangladesh and I am sure, Toyam Sports Limited (TSL) will be able to achieve their goal by coming on board as the title sponsor of a high-profile series like this one. I wish them all the best," said Bangladesh Cricket Board (BCB) president Nazmul Hassan. Rohit Sharma will lead India in both ODIs and Tests as they tour Bangladesh for the first time since 2015. <keyword id="6355454" type="General" weightage="50" keywordseo="kl-rahul" source="Orion">KL Rahul</keyword> and Virat Kohli will feature in ODIs and Tests, while Cheteshwar Pujara and Umesh Yadav will link up with the team for the Test series starting from December 14. "We at Toyam Sports Limited (TSL) are extremely proud to come in as the Title Sponsor of the India versus Bangladesh ODI series. We have been a part of international cricket events before, but this ODI series is an added feather in the company's hat and the happiest and proudest moment for our company." "Toyam Sports Limited, one of the fastest growing and BSE-listed sports company is always committed to support cricket in its growth and development, and we are very grateful to have this opportunity," said Mohamedali Budhwani, CMD, Toyam Sports Ltd. (TSL). Interestingly, Rohit Sharma and Virat Kohli will be seen together for the first time in a Test match in Bangladesh as the tour also marks India's final international bilateral assignment of 2022. "It gives me immense pleasure to welcome Toyam Sports Limited (TSL) as the title sponsor of India's series against Bangladesh and I believe that this series will help the company extend its reach to a new territory and achieve global recognition." "In keeping with Toyam's global outlook and our effort to put up a world class event, we look forward to partner them in many more projects in the future," said Sangeet Shirodkar, 27th Sports CEO and Co-Founder. The first two ODI matches between Bangladesh and India will take place on December 4 and 7 at the Sher-e-Bangla National Cricket Stadium (SBNCS) in Mirpur, Dhaka. The third ODI, which was previously scheduled to be held at Dhaka, will now take place at the Zahur Ahmed Chowdhury Stadium (ZACS) in Chattogram on December 10. The two Tests between both teams come under the ICC World Test Championship cycle. The first Test will be at the Zahur Ahmed Chowdhury Stadium (ZACS) in Chattogram from December 14 to 18, and followed by the second Test at the Sher-E-Bangla National Cricket Stadium (SBNCS), Mirpur, Dhaka from December 22-26. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-defense-exports-touched-a-record-13000-crore-in-2021-22/articleshow/92850833.cms">India's defense exports surge to ₹13,000 crore — private companies beat govt</a> <a href="https://www.businessinsider.in/defense/news/made-in-india-lightweight-combat-helicopter/articleshow/94613836.cms">Here’s everything you need to know about the made-in-India lightweight combat helicopter</a>

Toyam Sports Limited signed up as title sponsor for India tour of Bangladesh

<keyword id="235733" type="COMPANY" weightage="60" keywordseo="Parle-Products">Parle Products</keyword> topped the list of food companies in India during 2014-15, with sales exceeding Rs 8,300 crore, according to a Nielsen report. 

	The company, which was established in 1929 and owns Parle G, had a 29% share in the biscuits category during the year with sales of over 5,000 crore, ET reported. 
 The 85-year old company is the <keyword id="139821" type="POSITION" weightage="60" keywordseo="market-leader">market leader</keyword> in the biscuits category. <keyword id="6359432" type="PERSON" weightage="80" keywordseo="Britannia">Britannia</keyword>, India's second-largest biscuit maker, and chocolate giant <keyword id="6398864" type="UNKNOWN" weightage="80" keywordseo="Mondelez">Mondelez</keyword> shared the second rank with revenue of 6,800 crore. In the non-food segment, <keyword id="178761" type="COMPANY" weightage="80" keywordseo="Hindustan-Unilever-Limited">Hindustan Unilever Limited</keyword> (HUL) led the pack with sales of Rs 25,400 crore, nearly thrice of its nearest rival, <keyword id="6361491" type="CITY" weightage="80" keywordseo="Procter-Gamble">Procter &amp; Gamble</keyword> (P&amp;G), which registered sale of 8,600 crore. <keyword id="1622176" type="UNKNOWN" weightage="80" keywordseo="Rohit-Surfactants-Private-Limited">Rohit Surfactants Private Limited</keyword> (RSPL), maker of Ghari detergent, came in third in the home and personal segment, with sales of Rs 4,900 crore. 
	(Image: Indiatimes)

Parle Products ranked No.1 food company in India

The <keyword id="68997" type="UNKNOWN" weightage="20" keywordseo="insurance-bill">Insurance Bill</keyword> that was passed in the Parliament on Thursday has not only brought cheer to the industry players, but also spells good news for the consumers. 
	 “With the Insurance Laws (Amendment) Bill, 2015 being cleared by Parliament investment of around 200 bn rupees is likely to come into the Indian insurance sector over next few years. There is a lot of interest among foreign insurance companies to enter the market here as it has a lot of potential of growth. With more foreign investment and expertise, new products are also likely to be launched,” said Shashwat Sharma, Partner, Financial Services, <keyword id="50041" type="CITY" weightage="20" keywordseo="KPMG">KPMG</keyword>. 
	 
	Sharing a similar sentiment, Yashish Dahiya, CEO and co-founder of Policy Bazaar added, “The insurance bill will hand more power to consumers by ensuring flexibility in paying premium through installments, faster claim settlements, access to legal recourse and capping the agents’ commission. 
	 
	He further added that the Insurance Bill will now promote more transparency in the insurance products, thus making it easy for the consumer to understand his investment. “On the other hand, customers will have improved access to point of sales network for buying insurance policy. Moreover, online distribution channels will help consumers make an informed decision by analyzing products based on their requirement.,” explained Dahiya. 
	 
	Besides, the bill will also allow greater time frame to a policyholder to question an insurance company in case of misinformation or misleading statements. 
	 “There are many ways in which the insurance bill passed by the legislature is going to be helpful for the consumer who buys it--a few of the crucial pointers include that an insurance policy cannot be challenged on any ground after three years. This means if a fraud is detected three years after the policy has been in force, insurance companies will have to pay the policy holder. Thus, this will not lead to a distress to the consumer at the moment of urgency,” said <keyword id="972424" type="PERSON" weightage="20" keywordseo="Rohit-Gadia">Rohit Gadia</keyword>, CEO of <keyword id="1056926" type="ORGANIZATION" weightage="20" keywordseo="CapitalVia">CapitalVia</keyword>. 
	 
	Besides, the new insurance bill will help consumers at large to trust insurance products as it ensures greater consumer protection. “It gives more powers to the insurance regulator, which will make it difficult for companies to take policyholders for a ride,” added Gadia. 
	 
	The new Insurance Bill also puts a greater burden on the nominee of a policyholder too furnish proof in case of fraud. “The Bill has also added a new provision under Section 45 of the Insurance Act to shift the burden of proof on the beneficiaries of the deceased policyholder, in the event of fraud,” the Bill recommended. 
	 
	Also, the Insurance Bill is expected to pump in new investments in the sector. According to Gadia, market estimates suggested that Rs 20,000 crore to Rs 25,000 crore in foreign funds is likely to come immediately. 
	 
	“The money will help insurance companies to expand aggressively and will be beneficial for the people. It will be a big positive move for private insurers who have limited presence beyond metros and tier-1 cities. Also the domestic firms will look to expand aggressively with more money coming. More companies are likely to enter in to the insurance sector as well. This will lead to higher competition and insurance premiums may get cheaper for customers, analysts say. Insurance companies will now be able to bring innovation in products as well,” he explained. 
	 
	Interestingly, the Insurance Bill has also allowed a policy holder to refuse an assignment or transfer of a policy, if he reasonably feels that the said transaction was for trading of insurance policies. 
	 Gadia anticipates that the bill allows global insurers such as Britain's Prudential, which holds a minority stake in India's biggest private life insurer ICICI Prudential Life and others to increase their Indian stakes. And bring in innovation in the insurance sector. It could also pave the way for the year's biggest initial public offering, as HDFC Life, a joint venture between India's HDFC and Britain's <keyword id="1110792" type="ORGANIZATION" weightage="20" keywordseo="Standard-Life-plc">Standard Life Plc</keyword>, has said it would move towards a listing once the rule change is in place.

How the new Insurance Bill
will change the way you save

<ul><li>A joint venture between India and Russia has delivered 35,000 <keyword id="22298953" type="General" weightage="100" keywordseo="AK-203-rifles" source="keywords">AK-203 rifles</keyword> to the <keyword id="19908736" type="General" weightage="20" keywordseo="Indian-Army" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Army" meta.hostid="153" meta.entityid="Indian Army">Indian Army</keyword>.</li><li>The AK-203 rifles are being produced at the Korwa Ordnance Factory in Amethi.</li><li>The project includes technology transfer and 100% localisation of the AK-203 production.</li></ul> Ahead of Prime Minister Narendra Modi's visit to Russia, Indo-Russian Rifles Private Limited (IRRPL), a joint venture (JV) between India and Russia, has announced the successful delivery of 35,000 AK-203 assault rifles to the Indian Army. The production of these rifles has been deployed in India in full compliance with the <keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make in India</keyword> and <keyword id="20769798" type="General" weightage="20" keywordseo="Atmanirbhar-Bharat-Abhiyaan" source="keywords">Atmanirbhar Bharat Abhiyaan</keyword> programmes. The project includes technology transfer and 100% localisation of the AK-203 production. The Indo-Russian Rifles Private Limited joint venture, co-founded by <keyword id="22300656" type="General" weightage="20" keywordseo="ROSOBORONEXPORT" source="keywords" meta.keywordsubtype="org" meta.entityname="ROSOBORONEXPORT" meta.hostid="153" meta.entityid="ROSOBORONEXPORT">ROSOBORONEXPORT</keyword> on the Russian side, has completed the first phase of the project to produce AK-203 Kalashnikov assault rifles in India. To increase the degree of localisation, all necessary equipment has been shipped to the Korwa Ordnance Factory in Amethi, Uttar Pradesh, and production facilities are now fully equipped, emphasised Alexander Mikheev, Director General of ROSOBORONEXPORT. This made it possible to produce and deliver a batch of 35,000 Kalashnikov assault rifles to the Indian Army within the timeframe agreed with the Ministry of Defence of India, he added. The Kalashnikov AK-203 assault rifle is a version of the AK-200 rifle chambered for the 7.62x39mm cartridge used in the Indian Army. The weapon has the traditional advantages of Kalashnikov assault rifles, which are reliability and ease of maintenance. The Indian government in 2021 had approved the plan to manufacture 5 lakh AK-203 rifles in UP's Amethi. The rifle is intended to replace the INSAS rifle that was inducted over three decades ago. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi prepaid plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms">Motorola Razr 50 Ultra flip phone launched in India for ₹99,999</a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a>

India-Russia joint venture delivers 35,000 AK-203 rifles to Indian Army

Happy hump day. <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> in the Big Apple, and I'm loving this New York story about the <a href="https://www.vulture.com/article/what-is-a-nepotism-baby.html">internet's newest obsession with nepotism in Hollywood</a>. Wall Street, obviously, is no stranger to nepotism either, which made me curious: What's your favorite family lineage in finance? <a href="mailto:ddefrancesco@insider.com" target="_blank" rel="noopener">Drop me a line with some suggestions</a>. Today, we've got stories on <a href="https://markets.businessinsider.com/news/currencies/ftx-is-trying-to-recover-charitable-donations-political-contributions-crypto-2022-12">the latest in the FTX debacle</a>, <a href="https://www.businessinsider.com/tom-brady-nft-company-autograph-layoffs-sam-bankman-fried-2022-12">layoffs at Tom Brady's crypto company</a>, and <a href="https://www.wsj.com/articles/whos-getting-a-car-for-christmas-ask-the-people-who-sell-giant-bows-11671510567?mod=hp_featst_pos5">why your chances of getting a new car for the holidays are looking slim</a>. But first, Wells Fargo heads to the penalty box, again. If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/wells-fargo-scandal-bank-overdraft-late-fees-foreclosure-settlement-history-2022-12"></a>1. Wells Fargo faces the music.The regulators have once again come knocking at Wells Fargo, and it ain't pretty.Wells Fargo was ordered to pay $2 billion back to customers and pay a $1.7 billion civil penalty by the Consumer Financial Protection Bureau (CFPB) for illegal activity involving auto loans, mortgages, and deposit accounts that impacted over 16 million accounts. Here's a rundown of <a href="https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-wells-fargo-to-pay-37-billion-for-widespread-mismanagement-of-auto-loans-mortgages-and-deposit-accounts/">what the CFPB investigation uncovered</a>:<ul><li>Wrongfully repossessing borrowers' vehicles, in addition to incorrectly charging fees and interest on auto loans.</li><li>Denying changes to mortgages that led to wrongful foreclosures on some customers' homes. </li><li>Surprise overdraft fees, which occurred even though customers had enough money in their accounts.</li><li>Freezing access to accounts due to a faulty automated filter, which led to customers being locked out of their account for, on average, two weeks. </li></ul>And while $3.7 billion is quite a large amount of money, it's not unfamiliar territory for the bank.Less than three years ago, <a href="https://markets.businessinsider.com/news/stocks/wells-fargo-agrees-to-pay-3-bln-to-resolve-criminal-and-civil-investigations-1028928770?miRedirects=1">Wells paid $3 billion</a> to settle an investigation by the Justice Department and the Securities and Exchange Commission around its fake-account scandal, which involved employees setting up millions of fraudulent accounts for customers without their knowledge in an effort to meet unrealistic sales targets. The latest fine won't come as a complete shock to the bank. Wells has already paid out $1.3 billion to 11 million accounts related to auto-loan-servicing issues, <a href="https://files.consumerfinance.gov/f/documents/cfpb_wells-fargo-na-2022_consent-order_2022-12.pdf">the CFPB said</a>. Charlie Scharf, the bank's CEO, understood the mess he was getting when he took over the bank in 2019. (<a href="https://www.businessinsider.com/wells-fargo-org-chart-charlie-scharf-transformed-senior-leadership-departures-2021-8">Check out our org chart on the changes that Scharf has made among Wells' leadership since he took over.</a>)But Scharf still needs to contend with an asset cap imposed by the Federal Reserve that limits the bank's growth. And as the fines continue to pile up, some will ask the question: Can Wells ever straighten itself out?For Scharf's part, this is all part of a transformation that needed to take place at the bank."We have made significant progress over the last three years and are a different company today," <a href="https://newsroom.wf.com/English/news-releases/news-release-details/2022/Wells-Fargo-Enters-into-Agreement-with-CFPB-to-Resolve-Multiple-Issues/default.aspx">Scharf said in a statement</a>. "We remain committed to doing the right thing for our customers and working closely with our regulators and others to deal appropriately with any issue that arises."But others, including the regulators themselves, might beg to differ."Wells Fargo is a corporate recidivist," CFPB Director Rohit Chopra told reporters on a call Tuesday, <a href="https://www.wsj.com/articles/wells-fargo-reaches-3-7-billion-deal-with-regulators-over-consumer-banking-11671546132">according to The Wall Street Journal</a>, adding that the settlement "should not be read as a sign that Wells Fargo has moved past its longstanding problems."<a href="https://www.businessinsider.com/wells-fargo-scandal-bank-overdraft-late-fees-foreclosure-settlement-history-2022-12">Click here to read more about Wells Fargo's $3.7 billion settlement with the CFPB. </a>In other news:<a href="https://www.businessinsider.com/tom-brady-nft-company-autograph-layoffs-sam-bankman-fried-2022-12"></a><div type="image" title="Tom Brady reacts after an attempted trick play results in an interception." height="1752" width="2336" msid="96401373" hostid="261" sizebytes="296044"></div>2. Your (PE-backed) doctor will now see you. Private-equity firms see a big opportunity buying up companies staffing hospitals' emergency rooms with doctors. But the investment hasn't come without controversy, the Financial Times reports. <a href="https://www.ft.com/content/5673a288-f55b-4cfd-aa76-0ebb30b029a6" target="_blank" rel="noopener">Inside PE's push into healthcare</a>. 3. From "The Great Resignation" to "Quiet Quitting," these are the trends that defined the workplace in 2022. Experts broke down what was a wild year in the labor market, and made some predictions for what to expect in 2023. <a href="https://www.businessinsider.com/workplace-trends-2022-quiet-quitting-career-cushioning-great-resignation-labor-2022-12">Here's what the workplace will look like next year</a>. And while we're at, here are some picks from VCs on <a href="https://www.businessinsider.com/2023-future-of-work-trend-predictions-vcs-investors-2022-12">the hottest future-of-work trends in 2023</a>.4. So about that donation... FTX is trying to claw back donations and political contributions as it looks to put a dent <a href="https://markets.businessinsider.com/news/currencies/ftx-is-trying-to-recover-charitable-donations-political-contributions-crypto-2022-12">in the massive amount of money it owes creditors</a>. Meanwhile, FTX founder Sam Bankman-Fried appeared to be caught taking a little tiger snooze <a href="https://www.businessinsider.com/sam-bankman-fried-ftx-awakened-by-official-closing-eyes-court-2022-12">during his extradition hearing</a>. And a small New England town where an FTX exec bought <a href="https://www.businessinsider.com/ftx-exec-invested-6m-small-ma-town-worrying-local-officials-2022-12">$6 million worth of real estate and restaurants is getting worried</a>.5. It wasn't all bad news for startups this year. There were 174 US startups that reached unicorn status (a valuation of at least $1 billion) at some point this year. And while some have already seen those drop, and more could follow, it's still an interesting look at the state of the startup community. From film studio A24 to cloud-storage provider Wasabi Technologies, <a href="https://www.businessinsider.com/us-tech-startups-unicorns-list-2022-10">these are the 174 US startups that hit the unicorn mark</a>. 6. An NFT platform cofounded by Tom Brady just laid off dozens of employees. Autograph, whose board included the recording artist known as the Weeknd, closed earlier this year a $170 million Series B round that was led by Andreessen Horowitz and Kleiner Perkins. <a href="https://www.businessinsider.com/tom-brady-nft-company-autograph-layoffs-sam-bankman-fried-2022-12">More on the cuts here</a>. 7. THL just bought a majority stake in a company that helps marketers manage promotional materials. The PE firm agreed to buy a stake in Bynder, which works with companies like Spotify, Puma, and KLM, in a deal valuing it at over $600 million. <a href="https://www.businessinsider.com/thl-to-acquire-digital-asset-management-platform-bynder-2022-12">Here's why THL wants in on the digital-asset-management space</a>. 8. There's parties, and then there's renting out an entire island in the Maldives and goodie bags with Dior jewelry. The CEO of a concierge company for VIPs explains what it's like planning parties with multimillion-dollar budgets. <a href="https://www.businessinsider.com/what-its-like-plan-multimillion-dollar-parties-for-ultra-wealthy-2022-12">Take a peek inside how the ultra-wealthy party</a>. 9. Wellness perks are all the rage in luxury homes, but not the kind you think. The wealthy aren't as interested in gyms and swimming pools these days. Instead, they want plunge pools and infrared saunas in their high-end houses. <a href="https://www.businessinsider.com/fredrik-eklund-john-gomes-luxury-homebuyers-want-wellness-2022-12" target="_blank" rel="noopener">Two brokers featured on "Million Dollar Listing" break down what's in at luxury homes</a>. 10. This December might not actually be one to remember. Sellers of big bows for cars, which became a staple of popular culture thanks to Lexus' holiday commercials, have seen sales drops this year. That could be indicative of fewer cars being purchased as a gift this season, The Wall Street Journal reports. <a href="https://www.wsj.com/articles/whos-getting-a-car-for-christmas-ask-the-people-who-sell-giant-bows-11671510567?mod=hp_featst_pos5">Here's why you should get comfortable with your current ride</a>. Curated by Dan DeFrancesco in New York. Feedback or tips? Email <a href="mailto:ddefrancesco@insider.com">ddefrancesco@insider.com</a>, tweet <a href="https://twitter.com/dandefrancesco">@dandefrancesco</a>, or <a href="https://affiliate.insider.com?postID=63a1dcb4186a0b629b16044d&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdan-defrancesco-29b12449%2F">connect on LinkedIn</a>. Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Wells Fargo faces another setback with $1.7 billion penalty

Jaipur, Apr 28 () People in tribal-dominated Sagwara of Rajasthan's Dungarpur district are making Personal Protective Equipment (PPE) kits to help the nation in the fight against coronavirus. Workers, mostly women, are making 2,000 kits every day catering to the need of corona warriors in their fight against the virus. After receiving the order from the government, a private company has roped tribals in the work. "The work started 10 days ago. Earlier 900 kits were being made every day, now this has been increased to 2,000 per day," Rohit Trivedi, director of the NZ Seasonal Wear company said. Trivedi said most of the workers are tribals who have been provided training by the company. Among the nearly 200 workers, employed at the company amid the lockdown, 50 per cent are women. The Centre had on Monday said the production capacity of the coverall PPE kits are required by medical personnel treating coronavirus-infected patients in the country has been increased to more than one lakh daily. About 50 per cent of the coverall PPE kits production in the country is in Bengaluru. Also the kits are being manufactured by approved units at Dungarpur in Rajasthan, Tirupur, Chennai and Coimbatore in Tamil Nadu, Ahmedabad and Vadodara in Gujarat, Phagwara and Ludhiana in Punjab, Kusumnagar and Bhiwandi in Maharashtra, and Kolkata, Delhi, Noida, Gurugram and some other places. On March 2, the Ministry of Health and Family Welfare decided on PPE kits availability after international companies refrained from supplying them. HLL Lifecare Limited is undertaking procurement of kits for hospitals and healthcare organizations under the Ministry of Health and Family Welfare. PP KBM AG CK

Tribal belt in Rajasthan making 2,000 PPE kits daily to help fight against COVID-19

Top 10 Indian companies by market value in 2024

These 44 pitch decks helped fintechs disrupting trading, investing, and banking raise millions in funding

Check out the more than 50 pitch decks fintechs used to raise millions in funding from top investors

The Narendra Modi government has been for some time now tom-toming about India’s return to growth and the return of the adverbial ‘achhe din’, however, more often than not, there have been far too few statistics pointing to the validation of these claims. What Narendra Modi can probably take heart from is the recent Foreign direct investment (FDI) inflow data which shows a doubling at $4.48 bn in January 2015 vis-à-vis the inflow in the same month a year ago. But the big question that is on everyone’s minds is if this momentum will continue. Will Modi, given the slew of announcements made during the budget as well as the reformatory legislative decisions being taken during the current parliament session, be able to build on the ‘feel good’ factor he has created? 
 
Experts and analysts from across the board seem to believe so. Analysts expect this momentum to continue, on the back of the several policy initiatives announced to boost investor sentiment in the economy. 
 
It should be noted that the government has a sharp focus on pushing up India’s place in the Ease of Doing Business list by the World Bank. 
According to Rohit Gadia, CEO of CapitalVia, the proposal to club both FDI and FPI will have a great impact on the foreign investments directly as it will give a clarity and reduce the ambiguity. He explained that the current norms where there were separate caps for FDI and FPIs, limited the investment exposure and sometimes restricted the investment opportunities. 
 
In terms of the sectors, analysts expect manufacturing and infrastructure to benefit the most as Prime Minister Narendra Modi has an ambitious dream of developing India as a manufacturing hub. Besides, the government’s intention to restructure the Public Private Partnership (PPP) model is also expected to boost FDI in critical sectors, especially infrastructure. 
 
“Re-balancing the PPP models and asking the government to take risks would motivate the private sector in infrastructure and some of the announcements like prior clearances for ultra mega projects would improve ease of doing business,” said Rana Kapoor, president of industry body ASSOCHAM. 
 
Apart from these sectors, analysts expected service, auto, biotechnology and eCommerce to also attract foreign investments. However, traditional retail is not expected to attract any foreign investments. Aviation too will not see much investment as the taxation structure and the high prices of jet fuel adds hugely to the cost of operations. 
 
It should be noted that official data highlighted that the primary source of FDI in the current fiscal year include Cyprus, Japan, Singapore, Mauritius, Germany, France, Switzerland and UK. “In the insurance sector, we can expect Japanese companies to invest here,” said Yashish Dahiya, co-founder of Policy Bazaar.

Know why foreign investors will continue investing in India

The government’s announcement to have a single cap for both foreign direct investments and foreign portfolio investors has brought cheer to corporate. A composite cap for all foreign investments is expected to boost foreign investors’ sentiments as well as help meet the capital requirements of Indian companies. 
	 “The proposal to club both <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> and <keyword id="725142" type="ORGANIZATION" weightage="20" keywordseo="FPI">FPI</keyword> will have a great impact on the foreign investments directly as it will give a clarity and reduce the ambiguity. The current norms where there were separate caps for FDI and FPI limited the investment exposure and sometimes restricted the investment opportunities,” said Rohit Gadia, CEO of Capitalvia Global Research Limited. 
	 
	He added, “Besides giving greater flexibility to Indian companies to seek foreign investments, the proposal is also aimed at attracting larger foreign investments as it eliminates the ambiguity on application of sectoral foreign investment caps, though the other side of the coin is it will result in FIIs getting greater play in few sectors immediately.” 
	 
	In terms of sectors, banking will be most benefitted by the move followed by power exchanges and commodity. “If you pick up any private sector bank, you will wont investments from FDI but mostly FIIs. In the past, banks such as Kotak Mahindra Bank, HDFC bank had gone to the RBI requesting an increase in 49% cap. So, these are the players, who will primarily be most benefitted by the move,” said Ravi Kumar Shingari, partner, Tax at KPMG India. 
	 
	It should be noted that last year, HDFC bank had received the Foreign Investment Promotion Board’s (FIPB) approval to raise its FIIs limit after a hue and cry over its existing foreign investment in the bank. FIPB had considered the parent company HDFC’s stake as foreign investment, which implied that the bank had already reached the upper limit of the FII holding cap as laid down by the apex bank. 
	 
	Besides banking, stock markets, insurance and credit information sectors will also gain from the proposal. However, some analysts beg to differ. Analysts are of the view that the single cap proposal is only a sentimental boost and will in fact curb foreign investment. 
	 
	Interestingly, experts believed that multi-retail brand retail is a very segregated kind of an investment in India. Hence, the single cap will not help the offline retail format much as foreign investors would not invest in a model through which they can only operate in selective cities. 
	 
	“The model does not work for them and it will never be a profitable investment. In the retail segment, I feel it is the eCommerce that will be benefitted the most as there is a marketplace model where the stock inventory is being held by different companies. So at present, this change will not have much impact as the present regulation is not very conducive to the multi-brand retail model,” added Shingari. 
	 
	Also, the government will ensure that foreign investment limit is being maintained in multi-brand retail sector. 
	 
	On being questioned about the impact on the ownership of company, Gadia noted that the change in caps should not affect the company ownership as the total foreign holding will remain the same. “However, a government approval would be required if there is a transfer of ownership or control of Indian companies from resident Indian citizens to non-resident entities,” stated Gadia. 
	 
	Shingari added that more than the issue of company ownership, the challenge here would be the management of the company, which may substantially be impacted the single cap rule. 
	 
	Besides, the government will also be responsible for finding ways to ensure that the liberty manages to maintain the equilibrium between the direct investments and portfolio investments. 
	 
	Nevertheless, experts believed that the proposal will have a positive impact on the foreign investments. As the liberalization of foreign investments will enable companies to raise additional equity capital from multiple sources and will immensely help in boosting foreign investments in the country.

You Searched For "Rohit Surfactants Private Limited" and got 11 results

Toyam Sports Limited signed up as title sponsor for India tour of Bangladesh

IANS

Parle Products ranked No.1 food company in India

BI India Bureau

How the new Insurance Bill will change the way you save

Purba Das

India-Russia joint venture delivers 35,000 AK-203 rifles to Indian Army

Sourabh Jain

Wells Fargo faces another setback with $1.7 billion penalty

Dan DeFrancesco

Tribal belt in Rajasthan making 2,000 PPE kits daily to help fight against COVID-19

PTI

Top 10 Indian companies by market value in 2024

BI India Bureau

These 44 pitch decks helped fintechs disrupting trading, investing, and banking raise millions in funding

Shannen Balogh,Anita Ramaswam…

Check out the more than 50 pitch decks fintechs used to raise millions in funding from top investors

Shannen Balogh,Anita Ramaswam…

Know why foreign investors will continue investing in India

Purba Das

Single cap for FDI and FPI to boost foreign investments in country

Purba Das

Popular Keywords

Buying Guides