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Founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> has invested Rs 830 crore through his Singapore-based entity Patient Capital in <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword>'s latest <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword> -- wherein the <keyword id="21745043" type="General" weightage="20" keywordseo="travel-tech-platform" source="keywords">travel tech platform</keyword> raised Rs 1,457 crore, sources said. Post the equity dilution in the <keyword id="22756111" type="General" weightage="20" keywordseo="Series-G-funding" source="keywords">Series G funding</keyword>, Agarwal's holdings will increase from 29.97 per cent earlier, to 32.57 per cent post the investment, sources told PTI. According to sources close to the transaction, "Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices." <keyword id="20517346" type="General" weightage="20" keywordseo="Oravel-Stays-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Oravel Stays Ltd" meta.hostid="261" meta.entityid="Oravel Stays Ltd">Oravel Stays Ltd</keyword>, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round. The additional equity issuance was approved by 99.99 per cent shareholders in an Extraordinary General Meeting (EGM) held on August 8. The additional fundraise values the company at USD 2.4 billion, as the first Series G tranche issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The capital will be used to support OYO's growth and its global expansion plans, sources said.

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

Counted as it is among the world’s fastest growing economies, an unfathomable amount of money flows in and out of the Indian economic system. But there are cracks in said system, and ever so often, a fraudulent mastermind uses them to slip some cash out for their advantage. From <keyword id="19964851" type="General" weightage="20" keywordseo="ponzi" source="keywords">Ponzi</keyword> schemes to bank frauds, the Indian government and investors have fallen victim to many financial scandals — some of which were so sordid that they can be recounted like they happened yesterday. Here’s a rundown of the most infamous scams in Indian financial history: <h2><keyword id="20713434" type="General" weightage="20" keywordseo="harshad-mehta" source="keywords">Harshad Mehta</keyword> Scam (1992) – ₹4,000 Crore </h2>Perhaps the most iconic of all Indian financial scams, Harshad Mehta was known as the "Big Bull" of the stock market. He manipulated stock prices using illegal loopholes in the banking system. By obtaining unsecured loans from banks and investing them in the stock market, Mehta artificially inflated stock prices. His bubble burst when banks demanded their money back, revealing the massive fraud. This scandal led to a major reform in India's financial markets. Mehta died in jail before full legal accountability was reached, but the scam caused a significant loss to investors and led to tighter regulation in the Indian stock market. <h2><keyword id="23122396" type="General" weightage="20" keywordseo="satyam-scam" source="keywords">Satyam Scam</keyword> (2009) – ₹14,000 Crore </h2>Dubbed as India’s Enron, the Satyam scandal involved its founder, <keyword id="23122397" type="General" weightage="20" keywordseo="ramalinga-raju" source="keywords">Ramalinga Raju</keyword>, admitting to falsifying the company's accounts to the tune of ₹14,000 crore. Satyam Computer Services, once considered a blue-chip company, was found guilty of inflating profits and revenues. Raju admitted to the scam after a failed attempt to buy two Maytas firms owned by his family. This case brought corporate governance issues in India to the forefront. Raju was convicted, but the legal processes have allowed him temporary freedom through bail. But this incident called for improved transparency and stricter corporate governance norms. <h2>Punjab National Bank Scam (2018) – ₹13,700 Crore </h2>Diamond merchant Nirav Modi and his uncle Mehul Choksi orchestrated one of the largest frauds in Indian banking history by obtaining fraudulent Letters of Undertaking (LoUs) from Punjab National Bank (PNB). These LoUs allowed them to obtain loans from foreign branches of Indian banks without providing any collateral. The scam involved over ₹13,700 crore, and Modi fled the country, causing significant reputational damage to India’s banking sector. Nirav Modi’s extradition is still pending, and Mehul Choksi remains out of India’s legal jurisdiction. The scam, however, resulted in strengthened banking regulations regarding LoUs and SWIFT transactions. <h2><keyword id="23122399" type="General" weightage="20" keywordseo="vijay-mallya-scam" source="keywords">Vijay Mallya Scam</keyword> (2016) – ₹9,000 Crore</h2>The "King of Good Times" was living large while his airline, Kingfisher, was drowning in debt. Vijay Mallya allegedly defaulted on loans amounting to ₹9,000 crore from various banks. He fled to the UK in 2016, leaving creditors, employees, and stakeholders in financial distress. His lavish lifestyle amidst the collapse of his airline made this scandal a high-profile case. Mallya’s extradition process is ongoing, but he remains out of reach of Indian authorities. The main impact was enhanced scrutiny of loan defaults and triggered legal reforms on extradition. <h2>Saradha Chit Fund Scam (2013) – ₹2,500 Crore </h2>The Saradha Group, operating a ponzi scheme disguised as a chit fund, promised unrealistically high returns to its investors, mostly in West Bengal and Odisha. The scam collapsed, leaving over 1.7 million people, many of whom were low-income investors, without their life savings. Politicians and celebrities were also implicated in the case. While Sudipta Sen is behind bars, not all the accomplices have been held accountable. But this Ponzi scheme resulted in reform of chit funds and greater regulatory oversight on such investment schemes. <div type="Article" hostid="261" msid="112337071" title="Noida woman invests in stock market via an app, loses over Rs 69 lakh as it turns out to be a scam" mstype="2" mssubtype="0"></div> <h2><keyword id="6560832" type="General" weightage="20" keywordseo="2g-spectrum-scam" source="Orion">2G Spectrum Scam</keyword> (2008) – ₹1,76,000 Crore </h2>The 2G spectrum allocation scandal involved the underpricing of telecom licences to select companies in exchange for bribes. Telecom minister A. Raja was at the centre of this controversy, which allegedly caused a loss of ₹1.76 lakh crore to the exchequer. The case was seen as a massive blow to public trust in India’s telecom sector and led to significant political fallout. Sadly, all key figures involved were acquitted despite the Supreme Court’s intervention and cancellation of 122 telecom licences. <h2><keyword id="455134" type="General" weightage="20" keywordseo="coal-allocation-scam" source="Orion">Coal Allocation Scam</keyword> (Coalgate) (2012) – ₹1,86,000 Crore </h2>The coal allocation scam, or "Coalgate," involved the illegal allocation of coal blocks to private companies between 2004 and 2009. The CAG of India estimated a loss of ₹1.86 lakh crore to the exchequer due to non-competitive bidding. Many high-profile politicians and industrialists were implicated, making this one of the largest political scandals in India. While some officials faced legal consequences, many key players were not prosecuted. But it did trigger policy reforms in the allocation of natural resources. <h2>DHFL Scam (2019) – ₹34,615 Crore </h2>Dewan Housing Finance Corporation Limited (DHFL) was accused of syphoning off over ₹34,000 crore through a series of shell companies and fraudulent loans. Investigations revealed that the promoters used these funds for personal enrichment and illegal political donations. The case came to light after an investigation by investigative journalists and was later confirmed by a report from KPMG. The case is ongoing, and the main accused are in custody. For now, regulations governing non-banking financial companies (NBFCs) have been strengthened. <h2>Yes Bank Crisis (2020) – ₹3,788 Crore </h2>Yes Bank, under its founder <keyword id="19899935" type="General" weightage="20" keywordseo="rana-kapoor" source="keywords">Rana Kapoor</keyword>, was involved in questionable lending practices. The bank made high-risk loans to companies already in financial trouble, which eventually turned into non-performing assets (NPAs). Kapoor was arrested, and the Reserve Bank of India had to step in to stabilise the bank. The case highlighted serious lapses in corporate governance and risk management. As of now, Rana Kapoor is facing trial, and legal proceedings are active. The RBI has also introduced new measures to monitor the health of banks more rigorously. <h2>Commonwealth Games Scam (2010) – ₹70,000 Crore </h2>The 2010 Commonwealth Games held in New Delhi were overshadowed by corruption allegations involving inflated contracts and kickbacks. <keyword id="23122398" type="General" weightage="20" keywordseo="suresh-kalmadi" source="keywords">Suresh Kalmadi</keyword>, the head of the organising committee, was arrested for awarding contracts at exorbitant rates. The estimated loss to the exchequer was around ₹70,000 crore. This scam tarnished India’s image on the global stage. Kalmadi was arrested but the case has not resulted in major convictions or recoveries, except for stricter oversight on large public projects and international event planning. These scams not only caused financial damage but also eroded public trust in India’s institutions. In response, India has tightened regulatory frameworks, improved corporate governance, and adopted stricter banking standards, although challenges persist in tackling large-scale fraud. <div type="Article" hostid="261" msid="112896255" title="I was scammed out of $300K in a 3-month-long government impersonation scam" mstype="2" mssubtype="0"></div>

10 financial scams that shook India: A dive into deception

<keyword id="10591" type="General" weightage="20" keywordseo="samsung" source="Orion">Samsung</keyword> on Monday launched two Galaxy A-series smartphones -- Galaxy A14 5G and Galaxy A23 5G -- for consumers in India. The Galaxy A14 comes in three versions -- 4GB+64GB at ₹16,499, 6GB+128GB at ₹18,999, and 8GB+128GB at ₹20,999, while Galaxy A23 comes in two versions -- 6GB+128GB at ₹22,999, and 8GB+128 GB at ₹24,999, according to the company. The Galaxy A14 comes in Dark Red, Light Green, and Black, while, Galaxy A23 comes in Silver, Light Blue, and Orange, and both devices will be available across Samsung exclusive and partner stores, its official website and other online players starting January 20. "These devices showcase our premium design philosophy and come with industry-leading features like 16GB RAM with RAM Plus and 5000mAh battery. Starting at a net effective price of just INR 14999, these devices will be instrumental in driving our mission of making 5G accessible to everyone," Aditya Babbar, Senior Director, Mobile Business, at Samsung India, said in a statement. The Galaxy A14 comes with a 6.6-inch HD+ display with a 90Hz refresh rate for real smooth scrolling. With a 6.6-inch FHD+ screen, Galaxy A23 ensures an immersive content viewing experience and offers a 120Hz refresh rate that enables smooth scrolling and fluid screen transitions, the company mentioned. Moreover, both devices come with a massive 5000mAh battery, with up to two days of power. The Galaxy A23 supports 25W fast charging and comes equipped with an adaptive power-saving mode that automatically adapts to your usage and switches power-saving mode. The Galaxy A23 sports a 50MP quad rear camera set-up along with ultra-wide, depth and macro lens to shoot vivid and crisp photos and videos. However, the Galaxy A14 features 50MP triple-lens rear camera set-up with depth and macro lens for high-quality shots and a 13MP selfie camera. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/more-unicorns-focused-on-profitability-now-than-just-burning-cash-as-funding-winter-sets-in/articleshow/97030045.cms" style="">More unicorns focused on profitability now than just burning cash as funding winter sets in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/from-being-mildly-terrifying-to-doing-homework-is-chatgpt-a-boon-or-curse/articleshow/97000516.cms" style="">From being 'mildly terrifying' to doing homework, is ChatGPT a boon or curse?</a>

Samsung launches affordable Galaxy A14 and Galaxy A23 with 5G capabilities in India

<ul><li><keyword id="1268253" type="PERSON" weightage="60" keywordseo="Robinhood">Robinhood</keyword> closed a $200 million Series G <keyword id="708591" type="UNKNOWN" weightage="60" keywordseo="Funding-Round">funding round</keyword> at an $11.2 billion valuation from <keyword id="6965989" type="UNKNOWN" weightage="60" keywordseo="D1-Capital-Partners">D1 Capital Partners</keyword>, according to a Monday <a href="https://blog.robinhood.com/news/2020/8/17/series-g">release</a>.</li><li>The valuation is up from the $8.6 billion sum reached during its <a href="https://markets.businessinsider.com/news/stocks/robinhood-adds-series-f-funding-round-billions-new-valuation-brokerage-2020-7-1029388888">previous round</a> in July.</li><li>The <keyword id="54273" type="ORGANIZATION" weightage="60" keywordseo="Brokerage">brokerage</keyword> plans to hire more support staff and registered representatives throughout 2020, according to the release.</li><li>Robinhood's latest funding round comes as millions of retail investors flock to its app to capitalize on pandemic-fueled market volatility.</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</li></ul>Robinhood closed a $200 million Series G funding round meant to drive investments in its core product customer experience, according to Monday <a href="https://blog.robinhood.com/news/2020/8/17/series-g">press release</a>.The round was closed at an $11.2 billion from <keyword id="8369488" type="UNKNOWN" weightage="60" keywordseo="D1-Capital">D1 Capital</keyword> Partners. That's up from the $8.6 billion valuation reached <a href="https://markets.businessinsider.com/news/stocks/robinhood-adds-series-f-funding-round-billions-new-valuation-brokerage-2020-7-1029388888">just weeks ago</a>.The company plans to hire hundreds of new registered financial services representatives throughout 2020 for its Southlake, Texas and Tempe, Arizona offices. Robinhood is also hiring new staff across all offices to reduce response times and improve educational tools, the company said.Read more: <a href="https://www.businessinsider.com/point72-contacts-other-investing-apps-after-robinhood-data-taken-down-2020-8" target="_blank" rel="noreferrer noopener">Steve Cohen's Point72 and other hedge funds are sending urgent requests to find a replacement after Robinhood data on hot stock trades suddenly went dark</a>"We're proud that more people than ever are using Robinhood to learn how to invest and manage their finances," Vlad Tenev, co-founder and co-CEO of Robinhood, said in a statement.The discount brokerage has surged in popularity throughout 2020 as market volatility attracts hordes of retail investors. Robinhood announced in May it had added more than 3 million new accounts year-to-date, with half of them being first-time investors.More recently, the brokerage announced <a href="https://markets.businessinsider.com/news/stocks/robinhood-june-darts-beat-td-ameritrade-schwab-amid-market-volatility-2020-8-1029488598">record June daily average revenue trades</a> — or DARTs — of 4.31 million. The sum trounced those posted by legacy firms TD Ameritrade, Interactive Brokers, and Charles Schwab.Read more: <a href="https://www.businessinsider.com/genz-millennial-day-trading-investing-discord-server-eagle-investors-profile-2020-8" target="_blank" rel="noopener">Inside Eagle Investors, the 20,000-member online community run by 2 Indiana University students that's helping spearhead the Gen Z day-trading revolution</a>Usage of the company's education services spiked through the year as more novice investors looked to understand the virus-slammed market. Robinhood's Learn page saw average daily visitors surge 250% since January, according to the press release.The Series G round comes hot on the heels of an even larger fundraising run. Robinhood upsized its last funding round by $320 million on July 13, bringing its Series F fundraising total to $600 million. The previous funding round was first announced on May 4.Now read more <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/real-estate-investing-strategy-multifamily-units-bridge-loans-bruce-fraser-2020-8" target="_blank" rel="noopener">Bruce Fraser outperformed the S&amp;P 500 by nearly 286% as a hedge fund manager before switching to real-estate investing. He details the strategy he used to amass more than 1,600 multifamily units.</a><a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-buys-13f-berkshire-hathaway-lowes-restaurant-2020-8-1029509648">Billionaire Bill Ackman boosted stakes in Restaurant Brands and Lowe's last quarter while dumping Berkshire stock</a><a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-target-raised-wedbush-china-demand-battery-day-2020-8-1029508926">Tesla will soar 15% to record highs on China demand and battery dominance, Wedbush bull says</a>

Robinhood closes $200 million Series G funding round at valuation of $11.2 billion

Bengaluru, Bengaluru-headquartered <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">FinTech</keyword> lending startup <keyword id="6557529" type="UNKNOWN" weightage="20" keywordseo="KreditBee">KreditBee</keyword> on Monday said it has concluded its Series C equity round worth $75 million (about ₹545 crore) from <keyword id="648852" type="LOCATION" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword>, Mirae Asset Naver Asia Growth Fund, Alpine Capital and <keyword id="9361494" type="COMPANY" weightage="20" keywordseo="Arkam-Ventures">Arkam Ventures</keyword> consisting of both primary and secondary investment. With the current round of fund raise, the company wants to drive credit uptake in the economy especially for the unserved and underserved segment of the population. "With a larger portfolio of loan products, our objective is to provide credit to over 180 million New-to-Credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that," <keyword id="229206" type="DOMAIN" weightage="20" keywordseo="Madhusudan">Madhusudan</keyword> E, Co-Founder &amp; CEO of KreditBee, said in a statement. The holding entity previously raised over $43 million cumulatively in equity from marque investors including ICICI Bank and Arkam Ventures. Registered in March 2016, the group entity also holds Krazybee Services Private Limited -- a non-deposit taking non-banking financial company (NBFC-ND-SI). The group launched its flagship brand KreditBee in May 2018, focused on full-stack digital lending for young professionals. The platform specialises in providing digital personal loans and consumer durable loans to both salaried and self-employed. The loan amount disbursed can go as high as ₹2 lakh while the tenures range from two months to 15 months. The company said it currently has over 1,200 employees and a user base of over 20 million with over 4 million credit customers. The platform plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-ultra-5g-review-the-best-android-smartphone-yet/articleshow/80913148.cms">Samsung Galaxy S21 Ultra 5G review – the best Android smartphone, yet</a> <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/science/research/news/worlds-oldest-beer-factory-discovered-in-egypt-was-producing-50000-pints-at-a-time/articleshow/80920087.cms">Drink like an Egyptian: Historians discover the world’s oldest beer factory in Egypt</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a>

Lending startup KreditBee gets ₹545 crore from Premji invest, Mirae Asset and others

New Delhi, HP (<keyword id="6528042" type="COMPANY" weightage="20" keywordseo="Hewlett-Packard">Hewlett-Packard</keyword>) on Monday introduced its <keyword id="416581" type="PERSON" weightage="20" keywordseo="new-notebook">new notebook</keyword> '<keyword id="9953988" type="UNKNOWN" weightage="20" keywordseo="HP-ProBook-635-Aero-G7">HP ProBook 635 Aero G7</keyword>' powered by AMD Ryzen 4000 <keyword id="10469418" type="COMPANY" weightage="20" keywordseo="series-mobile-processors">Series Mobile Processors</keyword> at a starting price of ₹74,999 in India. According to the company, the 13.3-inch 'ProBook 635 Aero' is the first ProBook built with magnesium alloy that combines the lightness of magnesium and the strength and sleekness of aluminium. "The 'HP ProBook 635 Aero G7' is a mobile powerhouse designed to meet the demands of multi-task, multi-place workdays by combining effortless connectivity, integrated security and <keyword id="2639101" type="PERSON" weightage="20" keywordseo="powerful-performance">powerful performance</keyword> in an ultra-light form factor," said Vickram Bedi, Senior Director, <keyword id="7079041" type="COMPANY" weightage="20" keywordseo="personal-systems">Personal Systems</keyword>, HP India market. Built with an all-metal body chassis and aerodynamic edges, the 'ProBook 635 Aero' aims at giving a premium touch which is compact and sturdy. The users could see much more with its expanded viewability featuring 86.2 per cent screen-to-body ratio that is made possible with ultra-thin 9.5 mm top bezel and 4.28 mm side bezels. It has AMD Ryzen 4000 Series Mobile Processors with integrated AMD Radeon Vega Graphics. With up to eight cores, these powerful processors are designed to offer fast and responsive performance. Business users can customise the processors with optional AMD PRO technologies while extending their investments by upgrading storage up to 1TB (terabytes) and configurable up to 32GB with upgradable dual-channel memory anytime their needs change. The notebook comes with USB-C 3.1 Gen2, (2) USB 3.1 Gen1 (one charging), HDMI 2.0, headphone and nano security lock slot. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/startups/news/the-founder-of-sugar-cosmetics-explains-how-the-startup-clocked-a-60-growth-in-sales-during-the-pandemic/articleshow/79832966.cms">The founder of SUGAR cosmetics explains how the startup clocked a 60% growth in sales during the pandemic</a> <a href="https://www.businessinsider.in/business/startups/news/pine-labs-valuation-crosses-2-billion-as-it-raises-fresh-funds-from-lone-pine-capital/articleshow/79833738.cms">Pine Labs' valuation crosses $2 billion as it raises fresh funds from Lone Pine Capital</a>

HP introduces new business notebook with AMD processor starting at ₹74,999

<a href="https://www.businessinsider.com/category/rethinking-retirement"></a><div type="image" title="Headshot Martin A. Scott" height="2216" width="2955" msid="91130719" hostid="261"></div><ul class="summary-list"><li>As a financial planner, helping clients reach <keyword id="11909870" type="UNKNOWN" weightage="60" keywordseo="retirement" source="Orion">retirement</keyword> is a key part of my job.</li><li>To get them there, I start by factoring inflation, investment returns, and more into my projections.</li></ul>Regardless of their age, about every client (and prospective client) of mine has stated that one of their primary goals is preparing for a secure retirement. Given that most of my clients are in their 30s and 40s, they do not know exactly when they want to retire because this event can potentially be 25 to 30 years from now. However, there is still much <keyword id="12368569" type="UNKNOWN" weightage="60" keywordseo="financial-planning" source="Orion">financial planning</keyword> value to provide to clients as they make progress toward achieving their retirement goals.Here are three ways I provide guidance to clients and help them stay on track as they build wealth for retirement.<h2>1. I set reasonable assumptions within retirement plan projections</h2>Within their service to clients, most advisors use some type of financial planning software, which has a feature that provides retirement plan projections (e.g., probability of success). Many times, an advisor will show a client the projections based on what the client is currently doing and then subsequently show how the projections will improve with a recommended change (e.g., client increases retirement plan contributions, client works more years, etc.). An advisor must make several assumptions when doing this type of analysis for a client: <a href="https://www.businessinsider.com/personal-finance/average-stock-market-return" target="_blank" rel="noopener">investment returns</a> on a client's portfolio; inflation rates going forward; level of Social Security benefits; and length of an individual's retirement (i.e., how long they will live). My primary rule of thumb in this planning area is to lean toward being very conservative with these assumptions, which can provide clients a more realistic picture of what to expect going forward. Take the following example.John and Mary are both age 40 and have been married for 10 years. They have two children and are making efforts to save for future tuition costs, but also want to prioritize their own <keyword id="13613020" type="UNKNOWN" weightage="60" keywordseo="retirement-planning" source="Orion">retirement planning</keyword>. They hire a financial planner to do a detailed retirement plan analysis for them. Within these projections, their advisor specifically assumed investment returns lower than historical averages (for their risk tolerance in their investment portfolios) and higher than average inflation rates, which both had a negative impact on their progress toward their retirement goal. As a result, this analysis encouraged John and Mary to make more of an effort to save more toward retirement to counter these types of potentially unfavorable situations and still meet their goals.<h2>2. I help clients understand that there will be constant changes going forward</h2>Providing retirement plan projections to clients is a prudent exercise and provides much value to them, but every number and assumption that goes into this type of analysis will inevitably change. Even further, the level and timing of these changes are simply unpredictable. This can be frustrating to clients and advisors, but it is the reality of financial planning. There will be both quantitative (e.g., tax laws, market volatility) and qualitative (e.g., personal situations, health) changes throughout the years approaching retirement, especially when the time horizon is far out. I encourage clients to understand that nothing is set in stone and to remain flexible, which will allow them to adjust to whatever changes they face going forward.<h2>3. I make sure clients have the proper wealth protection in place</h2><keyword id="11916946" type="UNKNOWN" weightage="60" keywordseo="insurance" source="Orion">Insurance</keyword> might be the least-discussed strategy when addressing retirement planning, but it is the most important. Having <a href="https://www.businessinsider.com/personal-finance/what-insurance-do-i-need-every-age" target="_blank" rel="noopener">proper insurance</a> in place ensures that retirement goals do not get derailed in the event of an unfortunate occurrence or circumstance. Over the course of a long horizon of 25 to 30 years, many types of things can happen. Life can take many twists and turns. Maintaining adequate protection of wealth — in the form of insurance — is clearly a prudent decision, but it can also bring peace of mind to an individual who knows that their overall financial plan can withstand adverse events. The following example shows the impact of a wealth protection vehicle.Mike and Beth are both in their late 40s and have been married for over 20 years. Their son, Joe, just graduated from college, and they have funded his tuition completely for him over the last four years, which is quite a financial accomplishment. In addition to no more tuition payment obligations, Mike and Beth also maintain sizable retirement accounts, which will allow them to retire early. One evening, Mike gets into a car accident and is at fault. The person in the other car is seriously injured and is suing him for a substantial amount of money, which can be a real threat to the couple's overall savings. Mike is found liable in court, but fortunately Mike and Beth followed the advice of their financial planner and purchased an umbrella insurance policy, which provided them the extra liability coverage needed for this situation. As a result, they still were able to maintain their retirement savings and continue forward toward their goal of an early retirement.

I'm a financial planner, and I do 3 things with every client to make sure they can retire exactly when and how they want

Leading AI health and <keyword id="2014575" type="PERSON" weightage="20" keywordseo="fitness-app">fitness app</keyword> <keyword id="2698623" type="PERSON" weightage="20" keywordseo="HealthifyMe">HealthifyMe</keyword> on Tuesday announced it has raised $75 million (nearly Rs 560 crore) in a Series C round led by <keyword id="1175549" type="PERSON" weightage="20" keywordseo="leapfrog">LeapFrog</keyword> and <keyword id="130474" type="COMPANY" weightage="20" keywordseo="Khosla-Ventures">Khosla Ventures</keyword>. The company, which has raised over the total capital raised by HealthifyMe to over $100 million till now, said in a statement that it will use the funds to expand in India and Southeast Asia, make inroads into North America as well as to acquire relevant companies in the digital health and fitness space. It will also be investing heavily behind its AI powered HealthifySmart Plans and intends to double its current engineering and design strength. It will furthermore be hiring senior leadership members across operations, marketing, HR and technology. "We are already the market leaders in India and Southeast Asia and by combining AI and human empathy, we can deliver results in weight and lifestyle disease management at a fraction of the cost possible today," said <keyword id="2840907" type="PERSON" weightage="20" keywordseo="Tushar-Vashisht">Tushar Vashisht</keyword>, Co-founder and CEO, HealthifyMe. HealthQuad, <keyword id="2919607" type="ORGANIZATION" weightage="20" keywordseo="Unilever-Ventures">Unilever Ventures</keyword>, and Elm (Saudi Arabia PIF entity) also participated in the round, along with existing investors Chiratae Ventures, Inventus Capital and <keyword id="11674421" type="UNKNOWN" weightage="20" keywordseo="sistema-asia-capital">Sistema Asia Capital</keyword>. HealthifyMe said it has doubled its user base and revenue in the last one year during the pandemic. It crossed 25 million downloads recently and is on track to hit $50 million ARR (annual recurring revenue) within the next six months, potentially becoming the largest health and fitness app outside the US and China. While HealthifyMe's base has been India, it has been expanding internationally and now nearly 25 per cent of its revenues come from outside the country like Malaysia and Singapore. "What they have achieved in India with their AI coaching solution at scale is truly pioneering for the world. We are excited about the potential as they scale globally -- specifically in North America, where 2 out 3 adults are overweight or obese," said Vinod Khosla, Founding Partner at Khosla Ventures. HealthifyMe is also planning to invest in building its leadership team and will hire for key positions across operations, HR, technology and marketing as well as P&amp;L heads. The company aims to hire over 1,000 trainers and coaches this year. SEE ALSO - <a href="https://www.businessinsider.in/tech/mobile/news/apple-could-finally-bring-the-always-on-display-feature-on-the-iphone-13/articleshow/84542970.cms">Apple could finally bring the always-on display feature on the iPhone 13</a> <a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms">G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700</a>

HealthifyMe raises $75 million from US-based investors to make inroads into North America

<ul class="summary-list"><li><keyword id="6954789" type="UNKNOWN" weightage="60" keywordseo="sustainable-investing">Sustainable investing</keyword> has grown exponentially over the past few years, along with the financial instruments to fund them.</li><li>Leaders from BNP Paribas, JPMorgan Asset Management, and IDA Ireland described funds helping companies at every stage of going green.</li><li>The talk was part of Insider's virtual event "Financing Net-Zero," presented by IDA Ireland, on Thursday, May 13, 2021.</li></ul>Sustainable financing has grown significantly in recent years as corporations, governments, and institutions invest in <keyword id="77363" type="ORGANIZATION" weightage="60" keywordseo="ESG">ESG</keyword> (environmental, social, governance) initiatives. Even companies that are still reliant on fossil fuels can leverage financial instruments to help them fund progress toward <keyword id="49089" type="ORGANIZATION" weightage="60" keywordseo="Sustainability">sustainability</keyword>.At the same time, with so much at stake, companies are expected to demonstrate a genuine commitment to outcomes, and new and potential regulations are adding to the pressure for transparency. The various financial instruments funding sustainability initiatives were discussed by panelists on Insider's virtual event "Financing Net-Zero," presented by IDA Ireland, which took place on Thursday, May 13.Moderated by <a href="https://www.businessinsider.com/author/aaron-weinman">Insider's capital markets correspondent, Aaron Weinman</a>, the session featured Jennifer Wu, global head of sustainable investing at JPMorgan Asset Management; Anne van Riel, co-head of sustainable <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> capital markets at BNP Paribas; and Kieran Donoghue, global head of strategy, public policy, and international financial services, at IDA Ireland."The markets have grown exponentially," BNP Paribas' van Riel said. "In the first four months of 2021, we have already surpassed the total volumes in the sustainable bond market for 2019. In recent years that has grown from the more traditional green bonds ... to a wider range of different types of bonds that are issued - social bonds and sustainability bonds." "There is a wide range of different types of instruments now available to us as investors," said Wu, from JPMorgan Asset Management, describing the rise in "sustainability linked bonds." That's a format used when there isn't a dedicated use for the proceeds, but the company commits to targets toward green goals within a specific time frame.<h3>Funding progress for carbon-emitting companies </h3>Many companies are already incentivized to go green, according to IDA Ireland's Donoghue. "Many of our client companies have already publicly subscribed to a net-zero, so that's already part of their strategies," he said. "The vast majority of the companies and sectors in our portfolio are not from heavy carbon-emitting industries as a general rule...but those that do emit carbon are part of the EU's Emissions Trading Scheme...[and] have a good plan in place to progressively reduce their carbon footprint over time." For traditionally rooted, carbon-emitting companies, or companies transitioning to sustainable systems, there are financial instruments that can also help fund the progression."There's a number of high carbon-emitting industries where there's maybe no alternative yet in terms of technology that is low carbon," van Riel said. "We're really talking about industries that are essential to the economy, cement for example, or steel-making, where there's just no economically viable alternative yet for producing these products.For those companies, transition bonds will finance projects that are intended to fund steps towards a more sustainable future, with regulatory guardrails in place to ensure they are legitimately on that path. <h3>Increased focus on the "S" part of ESG</h3>While the climate crisis, central to the "E" parts of ESG, is currently the top priority in the sustainability spectrum, the panel also acknowledged the importance of the social and governance targets in driving innovation and change. In fact, the goals are inextricably linked. "If we want to make sure that we're investing in companies that are helping with the transition to net-zero, we not only want to make sure they have the right technologies in place," Wu said. "But we also want to make sure they have the right governance structure and talent. You can't have a good pathway to transition if you forget about the S and the G." van Riel said the inclusion of social categories in bonds has been growing over the past year, and that the pandemic has created a greater awareness that specific minority groups were hit harder by the economic downturn that ensued. "There has been a bigger focus by companies to provide more assistance or direct its targeted funding or assistance to those groups," she said. <h3>Minimizing the risk of "greenwashing"</h3>The lack of consistent standards for reporting contributes to the risk of "greenwashing," when companies make unsupported environmental claims that are intended to deceive consumers and investors. "We acknowledged that greenwashing is a risk and there is evidence that it has happened and continues to happen, in part because every business now wants to embrace the sustainability or climate action agenda," said Donoghue. "That said, we also recognize the interventions that policymakers and regulators have, have taken, which we believe will diminish the prospects of greenwashing over time." Donoghue cited the EU's Sustainable Finance Disclosure Regulation (SFDR), which came into effect in March 2021, as an important measure in the prevention of false claims and disingenuous goals-setting. "We think that will diminish the risk of greenwashing over time. And that right now we're on a much better path with respect to managing greenwashing in terms of the climate agenda discussion."

Financial instruments help companies make progress towards ESG goals, according to execs from BNP Paribas and JPMorgan Asset Management

The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the <keyword id="6366068" type="ORGANIZATION" weightage="20" keywordseo="international-monetary-fund">International Monetary Fund</keyword> said on Tuesday. However, it would be well placed to start recovering from the "horrible crisis" with the government making efforts on both the fiscal and monetary side in addition to putting in place structural elements, a top <keyword id="6355408" type="DEFINITION" weightage="20" keywordseo="imf">IMF</keyword> official has said. The International Monetary Fund in its annual World Economic Outlook significantly downgrades India's growth for the fiscal year 2020 to minus 10.3 per cent. At the same time, IMF said that India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, but for this New Delhi needs to ramp up its efforts in various fields. In terms of what can be done going forward, clearly on the fiscal side, the IMF believes there is more that can be done to provide support to households and firms that have been affected by the pandemic, Malhar Shyam Nabar, Division Chief, Research Department, IMF, told reporters on Tuesday at a news conference here on the eve of the annual meetings of the IMF and the World Bank. He further said there is a need to tilt the composition of the fiscal support towards more of the direct spending and tax relief measures and to rely slightly less on the liquidity support measures, the credit guarantees, which are clearly important to support the provision of credit in the economy. "But if you look at the approach that was taken, there was more of an emphasis on that type of measure. We think that there is room to recalibrate and to provide more direct relief and spending support, which could have a first order impact on preventing even worse outcomes, Nabar said. On the monetary policy side, the RBI had come in very aggressively early on, he said. "It has paused recently with its interest rate cuts, looking through this inflation, the spike in inflation that they have had recently, but we believe there is more that the RBI can do, too, in terms of there is room to cut if needed, and we think that should be done once this inflation spike is more under control," he added. "And together with these efforts, both on the fiscal side and the monetary side, we think that would put India on a path to recovery going forward," Nabar said. There has also been some efforts recently on the structural side to improve medium-term growth prospects, he said. "We have had progress on labour reform bills and the farm bills. We think that this will advance their structural reform agenda in an important way, remove supply-side constraints in the agricultural sector and in the labour market, also allow for a better matching of workers with firms, provide firms with a little bit more flexibility in terms of hiring options, but at the same time also provide more social security and safety net options for workers as well," he said in response to a question. "So, with those structural elements in place as well to reinforce the cyclical support, the Indian economy would be well placed to start recovering from this horrible crisis that it is experiencing right now," Nabar said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-new-iphone-12-series-with-5g-launched-starting-at-rs-69999-along-with-side-homepod-mini-debut/articleshow/78647779.cms">Apple's new iPhone 12 series with 5G launched starting at ₹ 69,999 along with HomePod Mini debut</a> <a href="https://www.businessinsider.in/science/space/news/jeff-bezos-blue-origin-gets-one-step-closer-to-sending-tourists-into-space/articleshow/78656520.cms">Jeff Bezos' Blue Origin gets one step closer to sending tourists into space</a>

IMF pegs India's economic growth to dip by 10.3% this year — will recover from coronavirus crisis with right policies

<keyword id="2060230" type="UNKNOWN" weightage="100" keywordseo="On-demand-music-streaming-service">On-demand music streaming service</keyword> <keyword id="1969101" type="COMPANY" weightage="100" keywordseo="Dhingana">Dhingana</keyword>.com has shut shop, finally. For some time now, rumours were rife that the company was restructuring its operations and Soundbox was the first to report that Dhingana could be quitting the game soon. 
 
When we visited the site today, a short message was up there that said: Goodbye! We hope that you enjoyed listening to Dhingana as much as we enjoyed building it. But alas, all good things must come to an end. We thank you from the bottom of our hearts for letting us be a part of your musical moments! -- The Dhingana Team 
 It is the second <keyword id="1368003" type="UNKNOWN" weightage="100" keywordseo="music-streaming-service">music streaming service</keyword> to shut shop within the span of three months. In November last year, Network18-owned In.com shut down its music offering as it could not meet the cost to content and monetisation was not adequate to continue the business. With Dhingana’s closure, the <keyword id="4627" type="COMPANY" weightage="100" keywordseo="Indian-Music">Indian music</keyword> market will just have three major players in this space – Times Internet’s <keyword id="-77" type="UNKNOWN" weightage="100" keywordseo="gaana">Gaana</keyword>, Tiger Global-backed <keyword id="2060236" type="UNKNOWN" weightage="100" keywordseo="Saavn">Saavn</keyword> and <keyword id="18898" type="CITY" weightage="100" keywordseo="Hungama">Hungama</keyword>, which is extensively supported by <keyword id="17191" type="COMPANY" weightage="100" keywordseo="T-series">T-Series</keyword> content. 
 
Surprisingly, Dhingana has not given any specific reason for the sudden shutdown. Last we checked, its <a href="https://play.google.com/store/apps/details?id=com.dhingana.free.app">mobile app</a> was up at Google Play Store. 
 One key reason could be T-Series withdrawing its music from Dhingana. T-Series said it was parting ways as there was very little traction on the Dhingana platform, compared to other services. So it is quite possible that a <keyword id="2060242" type="UNKNOWN" weightage="100" keywordseo="Content-crunch">content crunch</keyword> or <keyword id="2060241" type="UNKNOWN" weightage="100" keywordseo="Revenue-crunch">revenue crunch</keyword> has driven the company to withdraw its services. 
 “We were not able to see much traction in the service and secondly we couldn’t agree on the commercials and both parties thus decided to part ways in an amicable manner,” <keyword id="2060251" type="POSITION" weightage="80" keywordseo="T-Series-president">T-Series president</keyword> <keyword id="835320" type="PERSON" weightage="80" keywordseo="Neeraj-Kalyan">Neeraj Kalyan</keyword> told TechCrunch at the time of the break-up. 
 Set up in 2007 by twin brothers Swapnil and <keyword id="1317460" type="UNKNOWN" weightage="100" keywordseo="Snehal-Shinde">Snehal Shinde</keyword>, Dhingana essentially operated from the US although the company had an India office in Pune. It was a popular music service and claimed to have more than 9 million unique users per month while more than 50% users accessed the service from the US and Europe. Dhingana offered a library of 1 million-plus songs, in more than 42 Indian languages and genres. 
 The company was backed by VC investors such as <keyword id="455799" type="COMPANY" weightage="100" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>, <keyword id="309606" type="ORGANIZATION" weightage="100" keywordseo="Helion-Venture-Partners">Helion Venture Partners</keyword> and <keyword id="683320" type="COMPANY" weightage="100" keywordseo="Inventus-Capital-Partners">Inventus Capital Partners</keyword>, and had raised $7 million in Series B <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> in October 2012. Lightspeed led that round while existing investors Inventus and Helion also participated in the funding. 
 In spite of growing competition, Dhingana had gone ahead with its growth plans last year and tied up with <keyword id="2060229" type="UNKNOWN" weightage="80" keywordseo="General-Mobile-Corporation">General Mobile Corporation</keyword> (G-Mobi) to pre-install its <keyword id="683603" type="UNKNOWN" weightage="100" keywordseo="music-app">music app</keyword> on 1 million devices. This would have enabled Dhingana’s <keyword id="956764" type="ORGANIZATION" weightage="100" keywordseo="Android-app">Android app</keyword> to be installed on Intex, Zen, Hitech, m-Tech and Maxx devices. The company also partnered with <keyword id="6354924" type="PERSON" weightage="80" keywordseo="Idea-Cellular">Idea Cellular</keyword> for a music subscription service, which allows users to download unlimited music with no data charges. The service was to be made available to Idea users using <keyword id="6355645" type="COMPANY" weightage="80" keywordseo="android">Android</keyword> smartphones and WAP feature phones. In a bid to monetise its mobile content, Dhingana came up with a paid subscription service for its <keyword id="75489" type="ORGANIZATION" weightage="100" keywordseo="IOS">iOS</keyword> app, called <keyword id="2060249" type="UNKNOWN" weightage="100" keywordseo="Dhingana-Gold">Dhingana Gold</keyword>. 
 With so many growth and monetisation plans in place, it is still unclear why Dhingana had to bite the dust and go <keyword id="1909965" type="ENTERTAINMENT" weightage="100" keywordseo="out-of-business">out of business</keyword> so suddenly. Watch this space as we bring you more updates on the latest development. 
 
Image: Thinkstock Photos/Getty Images

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