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Earlier this week, the death of yet another corporate employee shook the nation. Various other incidents also made headlines last month, where employees of some big companies reportedly died of work pressure. With a rise in such incidents, people are talking about the importance of <keyword id="19901232" type="General" weightage="20" keywordseo="work-life-balance" source="keywords">work-life balance</keyword> and <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> at workplace. <keyword id="20253489" type="General" weightage="100" keywordseo="Zoho" source="keywords" meta.keywordsubtype="org" meta.entityname="Zoho" meta.hostid="261" meta.entityid="Zoho">Zoho</keyword> CEO and Co-founder <keyword id="19914274" type="General" weightage="20" keywordseo="Sridhar-Vembu" source="keywords">Sridhar Vembu</keyword>, in a new interview with PTI, has called for a fundamental shift in how companies treat their employees. In the interview, the entrepreneur warned that organisations pushing their workforce to unsustainable limits will not be able to keep up the pace. He also called for a shift in mindset and said that people are being put in a "very big pressure cooker." <h2>Zoho CEO on putting employees in pressure cooker </h2> <keyword id="21154651" type="General" weightage="20" keywordseo="vembu" source="keywords">Vembu</keyword>, who has spent over two decades building Zoho into one of India’s leading tech companies, expressed deep concern over the increasing pressure faced by employees, particularly in large cities. He said that we are creating environments where workers are trapped in a ‘pressure cooker’, referring to the convergence of long working hours, grueling commutes, and the isolation many young professionals experience after migrating from smaller towns. "You already have loneliness, long-commutes, stressful work condition. So, you are throwing people into a very big pressure cooker, and very tragically, some people break, other people are broken," he told PTI. Reflecting on his own experience, Vembu stressed the importance of pacing oneself in order to sustain a long and productive career. “I have been working for 27-28 years, and I hope to work for another 28 if possible. But to do that, I cannot allow myself, or my employees, to burn out,” he explained. He argued that companies prioritising short-term gains at the expense of their workers’ health are doomed to falter in the long run. <h2>What's the solution?</h2>Vembu’s advocacy for a healthier work culture is grounded in his broader vision for corporate India. A long-time proponent of decentralising business operations, he believes that one solution to the high-stress environment is to diversify away from major urban centres. “We bring young people from small towns into big cities, and their first challenge is loneliness. Then, they face commutes that can stretch up to two hours each way, particularly in cities like Bengaluru. It’s no surprise that many feel overwhelmed,” he said. The Zoho chief pointed out that by expanding operations into smaller towns and rural areas, companies can alleviate some of these pressures, allowing employees to stay closer to their homes and communities. This approach, he believes, not only reduces stress but also fosters a more sustainable, human-centric model of growth. Beyond <keyword id="22447710" type="General" weightage="20" keywordseo="workplace-stress" source="keywords">workplace stress</keyword>, Vembu touched on the role of technology in shaping the future of business. He reiterated his call for tighter regulations on big tech companies, particularly in preventing the monopolisation of digital services. Drawing parallels between email, which is an open standard, and messaging services that are often locked within proprietary ecosystems, he urged the government to push for greater interoperability. “Messaging platforms should not operate in silos. We need standards that prevent monopolies and ensure a level playing field for all,” he remarked. Vembu also praised India’s Digital Public Infrastructure (DPI) initiatives, calling them a “shining success story” and a model for other nations. He highlighted how India has become a global leader in digital infrastructure, with initiatives such as the ONDC (Open Network for Digital Commerce) and the health stack setting new standards for the world to follow.

People being thrown in pressure cooker, different mindset is needed: Zoho CEO Sridhar Vembu on India’s work culture

Around 75 % of <keyword id="20593458" type="General" weightage="20" keywordseo="UPI-users" source="keywords">UPI users</keyword> will stop using it if any transaction charge is levied on the service, a survey by LocalCircles said today. The survey found that 38% of users make over 50% of their payment transactions via <keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword> instead of debit, credit, or any other form of digital transaction. "Only 22 % UPI users surveyed are willing to bear a <keyword id="20813527" type="General" weightage="20" keywordseo="transaction-fee" source="keywords">transaction fee</keyword> on payments, 75% of respondents stated that they will stop using UPI if a transaction fee is introduced," the survey said. The survey comprising three broad areas, claims to have received 42,000 responses from 308 districts but the number of replies on each question varied. The questions regarding transaction fee on UPI received 15,598 responses. The <keyword id="19907219" type="General" weightage="20" keywordseo="National-Payments-Corporation-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="National Payments Corporation of India" meta.hostid="261" meta.entityid="National Payments Corporation of India">National Payments Corporation of India</keyword> (NPCI) posted a record 57% rise in the volume of transactions and 44% rise in value in the 2023-24 fiscal year, compared to the previous fiscal year. For the first time UPI transactions crossed 100 billion and closed at 131 billion in a financial year, compared to 84 billion in 2022-23. In value terms, it touched Rs 199.89 trillion, compared to Rs 139.1 trillion, the report said. The survey found 37 % of respondents shared UPI transaction accounts for more than 50 % of their total payment in value terms. "With UPI rapidly becoming an integral part of nearly 4 in 10 consumers, there is strong resistance to any kind of direct or indirect transaction charges being imposed. LocalCircles will escalate the findings of this survey with the <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> and <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) so that the pulse of the UPI user is taken into account before any MDR charges are permitted," the survey report said. The survey was conducted online, between July 15 to September 20.

Majority of users say they will stop using UPI if transaction fee is levied, notes a LocalCircles survey

<keyword id="20190045" type="General" weightage="20" keywordseo="Industry-body" source="keywords">Industry body</keyword> <keyword id="21568150" type="General" weightage="20" keywordseo="SME-Chamber-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="SME Chamber of India" meta.hostid="261" meta.entityid="SME Chamber of India">SME Chamber of India</keyword> has urged <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> to continue the 45-day <keyword id="21233021" type="General" weightage="100" keywordseo="MSME-payment-rule" source="keywords">MSME payment rule</keyword> for <keyword id="20008810" type="General" weightage="20" keywordseo="corporates" source="keywords">corporates</keyword> and other buyers. According to Section 43B(h) of the <keyword id="19936187" type="General" weightage="20" keywordseo="Income-Tax-Act" source="keywords">Income Tax Act</keyword>, introduced through the <keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Act 2023, if a larger company does not pay an MSME on time -- within 45 days in case of written agreements -- it cannot deduct that expense from its taxable income, leading to potentially higher taxes. The government in last year's Budget added a new clause under Section 43B of the Income Tax Act to address the challenge of delayed payments faced by MSMEs in the country. "We are pursuing not to change the 45-day MSME payment rules imposed by the Department under the pressure of corporates or multinational companies to save the life span of the MSME sector. Section 43B(h) of the Income Tax Act reinforces the importance of timely payments by mandating that companies settle payments to MSME vendors within 45 days to qualify for deductions," SME Chamber said in a statement addressed to Sitharaman. The industry body argued that this provision serves as a powerful incentive for companies to adhere to payment timelines, thereby supporting the financial health of MSMEs. "Many MSMEs are NPA victims of corporates, who are buying from them and not dealing through the TReDs platform. Most of the corporates and multinational companies are forcefully insisting to deregister from the Udyam Portal and insisting not to deal through the TReDs platform," SME Chamber stated. The industry body also urged the finance minister to consider providing Rs 5 crore loans under the "Differential Rate of Interest" scheme for micro and <keyword id="20569966" type="General" weightage="20" keywordseo="small-enterprises" source="keywords">small enterprises</keyword>. It suggested changing the NPA definition from 90 days to 180 days for the MSME sector. The chamber also sought the setting up of a task force to review various issues, hurdles, grievances and difficulties faced by MSMEs for availing credit facilities and the lack of approach by the financial institutions towards enhancement of credit flow to the MSME sector.

Continue 45-day MSME payment rule: Industry body to Finance Minister Nirmala Sitharaman

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back! A 72-year-old VC investor still runs four marathons a year. He spoke to BI about <a target="_blank" href="https://www.businessinsider.com/training-tips-for-older-runners-from-72-year-old-marathoner-2024-10">how he fits the training into his busy schedule</a> as he tries to run 100 marathons before he turns 100.In today's big story, a final look at the impact a Harris or Trump presidency <a target="_blank" rel="noopener" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">will have on your finances</a>.What's on deck:<ul><li>Markets: A survey exclusively shared with BI shows how a slice of Wall Street <a target="_blank" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11">thinks the election will go</a>.</li><li>Tech: Nvidia is replacing Intel in the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/intel-struggles-qualcomm-deal-chip-industry-turmoil-2024-9">Dow Jones Industrial Average</a>.</li><li>Business: We spoke to more than 750 people about <a target="_blank" href="https://www.businessinsider.com/cant-find-job-unemployment-applications-retirement-mba-age-competition-openings-2024-11">their struggles finding a job</a>.</li></ul>But first, let's go over it one more time.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">The White House and your wallet</h2><div type="image" title="Trump and Harris." height="1743" width="2323" msid="114952573" hostid="261" sizebytes="392138"></div>On the eve of election day, we're offering a final breakdown of how both candidates might affect your wallet.Business Insider ran a <a target="_blank" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">five-part refresher series</a> last week examining how the policies proposed by Vice President Kamala Harris and former President Donald Trump impact US consumers.With little middle ground between the two candidates, there are a wide range of implications. Let's get into it:<a target="_blank" href="https://www.businessinsider.com/market-impact-presidential-election-scenarios-trump-harris-stocks-bonds-crypto-2024-10">Investing</a>: The corporate tax rate is the major difference between the two sides that'll likely have the biggest impact on markets. Trump's plan to reduce the rate, which stands at 21%, is viewed by most as beneficial for corporate earnings. Harris wants to raise the corporate tax rate, which would likely have the opposite effect.<a target="_blank" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">Cost of things</a>: Both candidates are looking to keep leveraging tariffs, but Trump's policy is much more aggressive. His broad-based 10%-to-20% tariff on most imported goods will ultimately make those products more expensive, according to most economists. When it comes to grocery prices, Trump previously said he'd restrict food imports to boost local farmers. Harris wants a federal ban on price gouging, but that'd only be applicable during national emergencies.<a target="_blank" href="https://www.businessinsider.com/housing-affordability-supply-impact-presidential-election-scenarios-homebuyers-harris-trump-2024-10">Housing</a>: Harris wants to boost construction, with a goal of adding 3 million new housing units during her first term. The former president views his immigration plan — deporting millions of people from the country — as a way to address the housing shortage. Banning mortgages for immigrants living in the US illegally is another way to lower demand, according to Trump.<a target="_blank" href="https://www.businessinsider.com/tax-cut-tariff-plan-outlook-presidential-election-scenarios-harris-trump-2024-10">Taxes</a>: Trump is expected to expand on the tax cuts he established in 2017. The highest earners in the country, those in the top 0.1%, would see a tax reduction of nearly $280,000 whereas middle-income Americans would get a $1,000 break on their taxes, according to one analysis. Harris' proposals will favor lower-income earners, although she's promised to not raise taxes for anyone making below $400,000. She does support a minimum income tax for billionaires.<a target="_blank" href="https://www.businessinsider.com/childcare-costs-presidential-election-scenarios-parents-paid-leave-harris-trump-2024-10">Childcare</a>: Both candidates have discussed increasing the amount of the child tax credit, which currently provides up to $2,000 per child. Harris has also zeroed in on childcare costs, promising to cap those expenses at no more than 7% of families' income. Neither candidate has suggested funding childcare facilities or boosting hiring, which is a key issue for the industry.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Harris leads Trump by three points in a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/harris-trump-iowa-polling-lead-swing-states-2024-11">new poll in GOP-leaning Iowa</a>.</li><li>TGI Friday's <a target="_blank" rel="noopener" href="https://www.businessinsider.com/tgi-fridays-files-for-bankruptcy-2024-11">filed for Chapter 11 bankruptcy</a>.</li><li>Scoop: Gwyneth Paltrow's lifestyle brand Goop <a target="_blank" href="https://www.businessinsider.com/gwyneth-paltrow-goop-lays-off-employees-pivot-beauty-food-fashion-2024-11">conducted another round of layoffs</a>.</li><li>In an all-hands, Intel CEO addresses employee concerns about <a target="_blank" rel="noopener" href="https://www.businessinsider.com/intel-chips-act-funding-all-hands-meeting-2024-11">the US election and CHIPS Act funding</a>.</li><li>WATCH: How Elon Musk is reshaping American politics. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-reshaping-american-politics-ahead-of-2024-elections-2024-11">A conversation with Politico and BI</a>.</li><li>How a free meal cost an investor <a target="_blank" href="https://www.businessinsider.com/how-a-free-meal-cost-an-investor-his-retirement-savings-2024-10">his retirement savings</a>.</li><li>The China threat and the EV slowdown — <a target="_blank" href="https://www.businessinsider.com/auto-industry-faces-trouble-in-china-ev-slowdown-2024-11">2 takeaways from a busy few weeks in auto news</a>.</li><li>Record producer Quincy Jones has <a target="_blank" rel="noopener" href="https://www.businessinsider.com/quincy-jones-dead-obituary-2024-11">died at 91 in his home in Bel Air</a>.</li><li>The US dollar is jittery, and it's not <a target="_blank" rel="noopener" href="https://markets.businessinsider.com/news/stocks/us-dollar-presidential-election-fed-interest-rates-china-npc-stimulus-2024-11">only because of the presidential election</a>.</li><li>The Navy's top ballistic missile interceptor comes with a heavy price tag, <a target="_blank" href="https://www.businessinsider.com/us-navy-top-interceptor-missile-heavy-price-tag-low-procurement-2024-10">but the US can't afford to go to war without it</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo of Wall Street with American flags" height="1333" width="2000" msid="114952577" hostid="261" sizebytes="241826"></div><ol><li>These investors give the slight edge to Trump. A survey of some of SumZero's investor community, which includes small hedge funds and family offices, found 53% believe <a target="_blank" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11">Trump will win the election</a>. That follows other signals the finance world is sending that it views Trump as the favorite, including European stocks trading at a discount due to concerns over tariffs.</li><li>Interest rate cuts are back. The Fed will announce Thursday what it plans to do with rates, with <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">most traders expecting a 25-basis-point cut</a>. After that, there's one more chance for the Fed to cut rates in December, although JPMorgan's strategy chief said a Trump win <a target="_blank" href="https://www.businessinsider.com/trump-win-fed-pause-rate-cuts-easing-jpmorgan-david-kelly-2024-11">could give the central bank pause</a>.</li><li>Wall Street analysts are scratching their heads over Comcast's potential reorg. The company's president suggested it might spin out CNBC and MSNBC into a new firm while retaining NBC and adding a partner to its steamer. On paper the move makes sense, but analysts question how the cable networks could survive by themselves and <a target="_blank" href="https://www.businessinsider.com/comcast-cable-network-spinoff-peacock-partnership-deal-wall-street-analysis-2024-11">who would be willing to team up with Peacock</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Jensen Huang" height="3526" width="5289" msid="114952576" hostid="261" sizebytes="532426"></div><ol><li>A monumental swap. S&amp;P Dow Jones Indices announced Nvidia will replace Intel in the Dow Jones Industrial Average index, which looks to project the most relevant picture of the US economy. It shows <a target="_blank" rel="noopener" href="https://www.businessinsider.com/intel-struggles-qualcomm-deal-chip-industry-turmoil-2024-9">how far Intel has fallen from relevancy</a>, and raises questions about the future role it'll play in computing and AI. BI's Emma Cosgrove explains <a target="_blank" rel="noopener" href="https://www.businessinsider.com/why-nvidia-replacing-intel-dow-jones-industrial-average-explained-2024-11">why it's such a big deal</a>.</li><li>Everything we know about the Apple Intelligence rollout. Some of Apple's long-awaited AI features rolled out last week, including a new Siri interface and enhanced Messages. However, other features unveiled at WWDC in June won't be available until 2025. We've got <a target="_blank" href="https://www.businessinsider.com/apple-intelligence-features-rollout-timeline-iphone-16-2024-9">an estimated timeline of the rest of the releases</a>, based on what Apple experts and the company have said since WWDC.</li><li>Some Democratic political advertisers are still betting on X. Though Musk's ownership has shifted the platform's political stance, <a target="_blank" href="https://www.businessinsider.com/democratic-political-advertisers-using-elon-musk-x-twitter-2024-11">a small number of Democratic ad campaigns still see opportunity</a>. Montana Sen. Jon Tester and Texas Rep. Colin Allred are among the Democrats still hanging on tight to X.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Fish with price tags." height="3000" width="4000" msid="114952579" hostid="261" sizebytes="975922"></div><ol><li>Endless options are ruining e-commerce. The allure of online shopping was the ability to compare a variety of options from the comfort of your home. But what happens when there are literally tens of thousands of products to choose from? Information overload, choice paralysis, and <a target="_blank" href="https://www.businessinsider.com/online-shopping-ecommerce-comparison-burnout-too-many-choices-overwhelming-decision-2024-11">extremely frustrated shoppers</a>.</li><li>The great American shoplifting spree. Regular Americans are shoplifting everything from tape measures to blocks of cheese, and they don't feel particularly bad about it. Some of these opportunists view it as a way of fighting back against <a target="_blank" href="https://www.businessinsider.com/middle-class-shoplifting-retail-theft-crime-stealing-stores-2024-11">goods that are unjustly expensive</a>.</li><li>The biggest woes of finding work. BI spoke to over 750 people who have struggled to find a job, from older workers just shy of retirement to eager recent graduates. They shared what they're most frustrated with, including fake job postings, competition from AI, and the feeling of <a target="_blank" href="https://www.businessinsider.com/cant-find-job-unemployment-applications-retirement-mba-age-competition-openings-2024-11">being shut out from some careers</a>.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Fox Corp, Goodyear, Marriott, and other companies report earnings.</li><li>Boeing's unionized workers vote on a new pay offer.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Ella Hopkins, associate editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Here's a final breakdown of how both presidential candidates might affect your finances 

<keyword id="19990482" type="General" weightage="20" keywordseo="power-finance-corporation" source="keywords">Power Finance Corporation</keyword> (<keyword id="20058831" type="General" weightage="20" keywordseo="PFC" source="keywords">PFC</keyword>) on Wednesday posted over 23 per cent rise in consolidated net profit at Rs 7,556.43 crore for March quarter FY24 on account of growth in loan portfolio. It had clocked Rs 6,128.63 crore profit from "continuing and discontinued operations" during the fourth quarter of last fiscal, the company said in an exchange filing. Total income rose to Rs 24,176.34 crore from Rs 20,074.11 crore in January-March FY23. Expenses were at Rs 14,579.16 crore as against Rs 12,312.29 crore a year ago. The company logged the highest annual profit of Rs 26,461 crore in FY24, up 25 per cent from Rs 21,179 crore in FY23. Its consolidated loan asset book increased to Rs 9,90,824 crore as on March 31, 2024, up from Rs 8,57,500 crore a year ago. PFC's consolidated net worth (including non-controlling interest) increased 20 per cent from Rs 1,11,981 crore as on March 31, 2023 to Rs 1,34,289 crore as on March 31 this year. The company's total balance sheet size crossed Rs 10 lakh crore in FY24. Consolidated gross NPA was at 3.02 per cent in FY24 as against 3.66 per cent in FY23. The board also approved the final dividend of Rs 2.50 per share. With this, the total dividend for FY24 would be Rs 13.50 per share. <keyword id="21668447" type="General" weightage="20" keywordseo="cmd-parminder-chopra" source="keywords">CMD Parminder Chopra</keyword> said,"This strong performance is backed by a 14 per cent growth in our loan portfolio while retaining a strong asset quality. Our Net NPA levels reduced from 1.07 per cent in previous financial year to 0.85 per cent currently. Maximizing shareholder value remains a priority." PFC's renewable loan portfolio grew 25 per cent year-on-year to over Rs 60,000 crore, she said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

PFC Q4 profit grows 23% to ₹7,556 crore

<ul class="summary-list"><li>After years of struggles, chip giant Intel is in the midst of mass <a target="_blank" class="" href="https://www.businessinsider.com/intel-qualcomm-takeover-bid-layoffs-foundry-spin-off-2024-9">layoffs and buyouts</a>.</li><li>Some longtime Intel employees are eligible for up to 19 months of severance.</li></ul>When searching for a wedding planner, most couples don't check for a doctorate. But the brides of greater Portland are about to have that option.Shi Choong got her Ph.D. in Analytical Chemistry in 2018, and for the last six and a half years she's worked at Intel improving processes and training for the company's Oregon fab — a factory where Intel's chips are produced. She's one of the thousands of Intel employees who recently took the voluntary severance packages the company made available ahead of a long-forecasted round of <a target="_blank" class="" href="https://www.businessinsider.com/intel-qualcomm-takeover-bid-layoffs-foundry-spin-off-2024-9">15,000 layoffs and buyouts</a>, which began this month.After years of <a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-pat-gelsinger-turnaround-plan-aws-2024-9#:~:text=Revenue%20last%20quarter%20was%20down,shares%20falling%20by%20over%2025%25.">layoffs, buyouts</a>, and even <a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-takes-pay-cut-reduce-costs-prevent-layoffs-2023-2#:~:text=Intel's%20CEO%20and%20members%20of,Intel%20said%20in%20a%20statement.">one temporary pay cut</a>, many employees have thought about what they might do after Intel. Its severance package, which reportedly offers five weeks of pay for every year of service up to 19 months total, pushed some to jump.Though plenty of Intel alums are expressing trepidation about an <a target="_blank" href="https://www.businessinsider.com/millennial-cant-find-job-tech-blames-racial-discrimination-ai-2024-9">uncertain job market</a>, some departing Intel insiders are fashioning entirely new lives for themselves — 180 degrees from corporate life.Choong has been coordinating weddings and modeling outside of her Intel work hours for the last three years. She specializes in nontraditional, heavily themed weddings. This <a target="_blank" href="https://www.businessinsider.com/furry-fandom-big-tech-software-developers-2022-3">kind of nerdery</a> often goes hand in hand with the concentrated tech talent in places like the San Francisco Bay area or Portland. She saw the buyout opportunity and the severance that came with it, as a sign to take her side hustle full-time."To me, it's Christmas come early. It's a wish come true," Choong told Business Insider.BI spoke to three former Intel employees who are using the company's hard times as an opportunity to upend their lives.<h2 id="bc1c7975-8847-4cfc-b408-e6b24752f181">Intel lifers head out on their own</h2>"I'm feeling awesome," Javier Apostol told BI from the balcony of a beachside resort in Puerto Vallarta, Mexico, two weeks after his last day as a software applications engineering manager at Intel.He joined Intel in Arizona right after finishing his undergraduate degree and stayed for nearly 29 years. Intel was the only company he ever worked for as an adult.Apostol's first job was picking fruit in the fields of Yuma County, California, alongside his parents. Eventually, his dad started doing workforce development for migrants and then tax preparation for Spanish-speaking workers and agricultural contractors.When one of his dad's clients was audited, Apostol, who had started to learn how to program computers, turned handwritten mileage records into a neat chart. The IRS agents told him it was the best they'd ever seen, and Apostol got hooked on computers.Apostol joined Intel in 1996. From inside Intel, he's seen every phase of the internet since nearly the beginning. He said a longer lens gives him perspective.<a target="_blank" class="" href="https://www.businessinsider.com/intel-struggles-qualcomm-deal-chip-industry-turmoil-2024-9">Intel's situation</a> is no great tragedy, according to Apostol."The world is just changing and that is good. Intel will ultimately find its place where it needs to be," he said. After a vacation, Apostol is sticking with semiconductors, but he and some colleagues are headed in a more entrepreneurial direction.Though Intel has struggled to maintain its once leading-edge status, Apostol said there is a <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ai-chip-semiconductors-tsmc-intel-jobs-arizona-2024-2">window of creativity</a> in the semiconductor space that he hasn't seen in a long time as investors and consumers alike become aware of the vital role of chips in their everyday lives."<a target="_blank" class="" href="https://www.businessinsider.com/nvidia-competition-sambanova-groq-cerebras-show-faster-inference-speed-2024-9">Chip design</a> is going to explode," Apostol said. He and five colleagues who also took the buyouts want to apply their expertise in chip-making consulting for businesses and even <a target="_blank" class="" href="https://www.businessinsider.com/sovereign-clouds-explained-data-center-ai-national-security-vultr-2024-10">countries</a> looking to enter the industry.At 54 years old, and with both of his kids in college and away from home, he has the time and the energy to take the leap, he said. He hopes Intel finds its way to similar boldness again."If I worry about anything it's Intel becoming complacent and deciding to think small — to stop looking for the next great thing," Apostol said.<h2 id="22be38cf-517d-4e34-a89c-5f46756eb17e">Turning a good living into a good retirement</h2>Sumit Guha, a former transfer technology manager at Intel, is founding a new venture too, but with more altruistic aims.Over his 24 years at Intel, Guha used his spare time to develop a wealth management strategy based on the philosophies of <a target="_blank" class="" href="https://www.businessinsider.com/how-warren-buffe">Warren Buffet</a>.He's shared his strategy with friends and colleagues over the years, but it wasn't until his 86-year-old mother was sold a fraudulent insurance policy that he considered scaling his efforts up. He fought for two years to get her money back, and that wasn't the first time his parents had been the victims of dubious financial providers."My goal is to teach seniors how to detect financial fraud. I have witnessed this myself. Old people are targets," Guha said. He plans to start studying to become a Certified Financial Planner soon, with the aim of providing free tax services to older adults and eventually starting a nonprofit organization that helps them manage and grow their finances.As Guha, 60, approaches retirement age, he's become increasingly worried about the state of his peers' <a target="_blank" class="" href="https://www.businessinsider.com/gen-x-baby-boomers-savings-cant-afford-retirement-2024-4">retirement accounts</a>. AARP estimates that 20% of Americans over the age of 50 have no retirement savings at all.Intel still offers some of the benefits much of the tech world has long eschewed. For example, spreading out the timeline for paid sabbaticals has been one of the perks downgraded in the current era of cutbacks. But for Guha, some of his longevity benefits with Intel have kicked in recently, and the company accelerated stock grants set to be issued in December as a 'thank you' for enduring <a target="_blank" class="" href="https://www.businessinsider.com/intel-ceo-takes-pay-cut-reduce-costs-prevent-layoffs-2023-2#:~:text=Intel's%20CEO%20and%20members%20of,Intel%20said%20in%20a%20statement.">2023's pay cuts</a> for those who took the buyout option."It's a gift for me to pull the trigger now," Guha said. He plans to offer tax services, financial fraud awareness, and investment advice with the aim of helping Americans achieve a safe and comfortable retirement, even if they started saving late in the game.<h2 id="7bec7e59-5a0c-4aa0-bd49-7e9d5e9b7d2f">Lessons learned at Intel</h2>Though several departing Intel employees expressed some frustration with the current state of the company, they still believe it can be successful. And they're taking some of the values and skills they picked up there with them. The company always valued continuous training, said Apostol.Choong said many of the skills she learned at Intel will transfer to her new life. Engineers are organized and good at dealing with complexity — the kind that comes with a wedding that starts in formalwear and ends with the entire party wearing animal onesies, for example.Choong also learned how to speak up for herself at Intel, especially when training in the fabs. This comes in handy when dealing with sketchy wedding vendors, she said."I have grown tremendously. I used to cry in my office because someone spoke loudly at me. I'm fearless now," Choong said.Are you leaving Intel too? Or sticking around? Got a tip or an insight to share? Contact BI's senior reporter Emma Cosgrove at <a target="_blank" href="mailto:ecosgrove@businessinsider.com">ecosgrove@businessinsider.com</a> or use the secure messaging app Signal: 443-333-9088.

Life after Intel: After rounds of layoffs and buyouts, some Intel insiders are abandoning the corporate grind altogether

The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords">Reserve Bank of India</keyword> has imposed <keyword id="21834852" type="General" weightage="20" keywordseo="monetary-penalties" source="keywords">monetary penalties</keyword> on three Non-Banking Financial Companies for <keyword id="20170050" type="General" weightage="20" keywordseo="non-compliance" source="keywords">non-compliance</keyword> with directions of <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> on <keyword id="20200326" type="General" weightage="100" keywordseo="housing-finance-companies" source="keywords">housing finance companies</keyword>. As per the official statement from RBI on Friday, it has imposed a monetary <keyword id="19899183" type="General" weightage="20" keywordseo="penalty" source="keywords">penalty</keyword> of Rs 5 lakh on <keyword id="23068625" type="General" weightage="20" keywordseo="Godrej-Housing-Finance" source="keywords">Godrej Housing Finance</keyword> Limited, Rs 5 lakh on <keyword id="20389260" type="General" weightage="20" keywordseo="Aadhar-Housing-Finance" source="keywords">Aadhar Housing Finance</keyword> Limited, and Rs 3.5 lakh on Housing and Urban Development Corporation Limited. These penalties by the regulator have been imposed in the exercise of powers conferred on RBI under the provisions of Section 52A of the <keyword id="20200606" type="General" weightage="20" keywordseo="National-Housing-Bank" source="keywords">National Housing Bank</keyword> Act, 1987. As per RBI, the statutory inspection of these companies was conducted by the National Housing Bank (NHB) with reference to their financial positions as of March 31, 2022. The RBI stated that based on the supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the companies advising them to show cause as to why a penalty should not be imposed on them for their failure to comply with the RBI directions. After considering the companies' replies to the notice, oral submissions during the personal hearing, and additional submissions made by them, the RBI found that Godrej Housing Finance Limited failed to obtain two independent valuation reports before sanctioning certain loans of Rs 75 lakh and above. For Aadhar Housing Finance Limited, the RBI stated that the company charged interest on loans for a period prior to the date of the actual disbursement of the loan/issuance of the check to certain borrowers, in contravention of RBI directions on the 'Fair Practices Code.' The penalty on Housing and Urban Development Corporation Limited has been imposed because the company failed to undertake risk categorization of its customers during the financial year 2021-22, did not put in place a system for periodic review of risk categorization of accounts, and did not create a floating charge on the assets invested by it in terms of Section 29B of the NHB Act, in favor of its depositors, and register the same with the Registrar of Companies.

RBI imposes penalties on three housing finance companies for non-compliance with directions

<ul class="summary-list"><li>For 16 years, I worked in the billing department of a construction company.</li><li>My days were filled with meetings and long emails, and eventually, I decided to quit.</li></ul>Sixteen years is a long time. From 2004 until 2020, I worked as a billing specialist in the finance department of a nationwide <a target="_blank" class="" href="https://www.businessinsider.com/how-a-construction-firm-saves-2-million-a-year-by-using-ipads-2018-5">construction company</a>.As in many <a target="_blank" class="" href="https://www.businessinsider.com/office-culture-then-and-now-2018-5">corporate jobs</a>, my work was filled with unnecessary meetings run by leaders who enjoyed nothing more than hearing themselves speak, unfathomably long emails, and micromanagement, even though I was told repeatedly that the company definitely does not micromanage workers.Still, I persisted. Despite my best efforts to <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-promoted-at-work-2018-7">advance within the company</a>, I found myself trapped in a role that offered no growth. Being highly skilled in a role that few people want often means you're stuck in that role, regardless of your aspirations.<h2 id="a6f45dca-dfce-4af7-80ad-4a88b6462720">My family was full of educators</h2>Within my extended family, the <a target="_blank" class="" href="https://www.businessinsider.com/what-people-get-wrong-about-teachers-2018-5">career of choice tended to be that of an educator</a>. Although a few of us took different routes, I had several times over the years considered answering the clarion call of the teacher. But with a wife and four kids to support, it seemed impractical.My perspective began to change in 2015. After spending 40-odd years driving a concrete truck, <a target="_blank" class="" href="https://www.businessinsider.com/early-retirement-not-worth-it-dad-sacrificed-frugal-died-2024-9">my father retired</a>. Not one to sit around, we were all amazed when my dad announced he was hired as a teaching assistant at his district's tech school. A lifelong mechanic, my father was finding fulfillment in providing support in a small engine repair classroom.Inspired by his <a target="_blank" class="" href="https://www.businessinsider.com/career-change-forties-rewarding-hard-2024-5">career change</a>, I decided it was time for my own career change. I found a two-year program at a local university that would get me a teaching certificate and my Master's in Education. I started the program in 2019 and found myself in the uncomfortable position of being a student again.<h2 id="1073cd86-7634-4006-97c5-73c7794807a2">I went back to school</h2>The program I enrolled in was a hybrid model that consisted of in-person and online classes. That changed entirely in early 2020 because of the COVID-19 pandemic. The program switched to being entirely online. What was supposed to be four months of in-school teaching turned out to be months of Zoom meetings and pre-recorded lessons.I persevered, and in December 2020, I graduated with a Master's in Education. A few months later, I passed my certification tests and became a teacher. My first position in my brand-new career began as a substitute teacher in the elementary school I attended as a child. One of those in the "right place at the wrong time" type of situations, I found myself in a sixth-grade classroom of a teacher who unexpectedly went out on maternity leave just as the year began.<h2 id="aa15b541-7209-4b70-9c5b-0fdfb5a2baa8">Teaching was one of the hardest things I've done</h2>When I state that teaching sixth grade was one of the hardest things I had to do, it's no exaggeration. During our first full year out of the COVID-19 pandemic, students were unaccustomed to in-person school. After a year of Chromebook schooling at home, students clearly were not ready for the more rigorous demands of in-person instruction.The one who was the most ill-prepared, however, was myself. While I hadn't worked in the corporate world for over a year, I still hadn't let go of many things that had been instilled in me — paranoia, distrust of people, micromanagement, and limited autonomy.But the biggest change for me was going from a cold, calculated environment to one where I was now in charge of 20-plus young souls. It was now my job to teach, entertain, keep in line, and provide emotional support to students, guiding them through their academic and personal growth with empathy and dedication. It was a change that took several years to work through and accept.In my fourth year of education, I've found myself working in a great elementary school with an equally wonderful staff and an administration that appears to appreciate my work. While I still occasionally have bouts of imposter syndrome, I've come to accept my new career and enjoy the relationships I'm forging with my students.I'm not sure I'll ever be able to stop looking over my shoulder, though.

Working in corporate America burned me out, so I became an elementary school teacher

<ul class="summary-list"><li>Excel is a Zyn competitor with branding straight out of Wall Street's hustle culture.</li><li>Aimed at 'productivity pioneers,' it's the brainchild of Soylent cofounder John Coogan.</li></ul>A new nicotine pouch brand is looking to stand out in a buzzy market, with branding that seems plucked from an episode of "<a target="_blank" class="" href="https://www.businessinsider.com/industry-season-3-bankers-true-story-mickey-down-konrad-kay">Industry</a>" and tailor-made for Wall Street's "grindset" bros.<a target="_blank" class="" href="https://excelpouches.com/products/pouches-five-pack">On its website</a>, Excel targets "productivity pioneers.""Consume to increase shareholder value," reads the outside of the minimalist black and white cans. A pack of five is priced at $30.Excel's is-it-ironic-or-not branding makes sense, given the growing popularity of synthetic nicotine pouches among <a target="_blank" href="https://www.businessinsider.com/zyn-pouches-become-popular-some-workers-2024-3">office workers wanting a boost</a>."Starting Excel was the next logical step in continuing my life's mission of productivity at all costs," said John Coogan, the creator of Excel and a Los Angeles-based entrepreneur and <a target="_blank" class="" href="https://www.youtube.com/@JohnCooganPlus">YouTuber.</a>Largely seen as a safer alternative to dip, vaping, and cigarettes, market leader Zyn said it shipped roughly 385 million cans of its nicotine products in the US in 2023, <a target="_blank" href="https://www.businessinsider.com/zyn-nicotine-pouches-huge-increase-us-shipments-2024-2">up 62% year-over-year</a>.<div type="image" title="John Coogan sitting in an armchair and holding a newspaper with a can of Excel nicotine pouches." height="963" width="1284" msid="113551338" hostid="261" sizebytes="85418"></div>In addition to the corporate world, the pouches have also found loyal devotees <a target="_blank" href="https://www.businessinsider.com/chuck-schumer-nicotine-zyn-republican-right-wing-2024-1">within certain circles of the political right</a>.Tucker Carlson, for instance — who has said the product "frees your mind" — is launching his own brand in November. He's calling it Alp, which he's positioning as a more <a target="_blank" href="https://www.wsj.com/business/tucker-carlson-interview-nicotine-pouch-2327797c?mod=hp_lead_pos8">masculine alternative</a> to Zyn.<h2 id="c50690c3-7c31-427a-8243-d441778d69a0">The brainchild of a Soylent cofounder</h2>Coogan told BI he cofounded <a target="_blank" href="https://www.businessinsider.com/soylent-drinkers-tech-meal-replacement-food-millennials-genz-2022-5">Soylent,</a> a beverage and snack brand, "so that people would no longer need to leave their desk."Coogan — who also serves as an entrepreneur-in-residence at Founders Fund — cofounded nicotine startup <a target="_blank" class="" href="https://www.businessinsider.com/soylent-founder-new-startup-nicotine-gum-help-smokers-quit-2019-1">Lucy Goods</a> in 2016, and it closed a <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/lucy-closes-10-million-in-series-a-funding-to-create-safer-nicotine-products-301010029.html">$10 million Series A</a> funding round in 2020.Lucy houses several sub-brands, Coogan said, with others on the way.Lucy's first product was nicotine gum, and it also vends a <a target="_blank" class="" href="https://lucy.co/products/breakers?variant=41460834468026&amp;selling_plan=711622842">Breakers</a> brand whose nicotine pouches contain a flavor capsule. "More for the Montauk season than the office," he said.Excel was founded in 2022.The branding for Excel — which straddles a fine line between earnestness and parody — was developed by Los Angeles-based creative studio Day Job, which has worked with clients including Colgate and sauce startup <a target="_blank" class="" href="https://www.businessinsider.com/guides/kitchen/fly-by-jing-review">Fly By Jing</a>.In an email interview with BI, Day Job cofounder Rion Harmon said the branding was inspired by Wall Street's hedonistic heyday."We've all heard of storied output derived from cocaine in the 80's," Harmon said of decreasing productivity levels today. "We felt an obligation to find a solution."Coogan likened Excel to "American Psycho," a satire that he said has been "rightly embraced by finance bros as a style guide.""We hope that Excel will quickly enter the Wall Street canon," Coogan said, "to sit alongside Patrick Bateman, Gordon Gekko, and many other icons."

A new Zyn competitor is marketing its nicotine pouches to the finance bros

Dear reader, Yet another week comes to a close and India's financial landscape saw a slight dip after reaching for the skies last week. Yet, speculations around <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> possibly reaching the coveted 100,000 mark in early 2025 are on the rise. Meanwhile, excitement is building for Coldplay’s upcoming concert in January next year. However, there is some bad news for those who have purchased or sold tickets via unauthorised means. BookMyShow has lodged an FIR to investigate the illegal sale and purchase of tickets. On a more somber note, the tragic passing of a <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> employee made headlines this week and reignited discussions around the pressing issues of <keyword id="22447710" type="General" weightage="20" keywordseo="workplace-stress" source="keywords">workplace stress</keyword> and mental health. Coming to what’s happening in the corporate world, <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> is considering a major overhaul of its management structure that could see thousands of <keyword id="21263592" type="General" weightage="20" keywordseo="managerial-roles" source="keywords">managerial roles</keyword> eliminated by next year, aiming for increased efficiency and significant cost savings. Additionally, popular YouTuber Ranveer Allahbadia recently faced a hacking incident, raising awareness about the importance of online account security and the necessary steps for recovery. Join us as we explore these compelling stories and more, helping you stay informed and engaged in this ever-evolving landscape. <h2>Top stories of the week: </h2><h2>Will Sensex touch the coveted 1,00,000 mark early next year? Experts weigh in </h2> The Indian stock market experienced a significant growth, with the BSE Sensexsurpassing 85,000 points last week. However on Thursday, October 3, the Indian stock market faced a substantial decline. Bothbenchmark indices, Sensex and Nifty 50, ended the trading day down by more than 2%. Meanwhile, analysts are speculating that the index could reach the 100,000 mark by early 2025, bolstered by a ₹57,359 crore inflow from foreign investors in September—the highest in nine months. <a href="https://www.businessinsider.in/stock-market/article/will-sensex-touch-the-coveted-100000-mark-early-next-year-experts-weigh-in/articleshow/113797957.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Coldplay India 2025 concert: BookMyShow might cancel tickets sold through unauthorised channels, files FIR</h2> BookMyShow took legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "Music Of The Spheres World Tour " in India. The online ticket platform filed an FIR with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-Police" source="keywords" meta.keywordsubtype="org" meta.entityname="Mumbai Police" meta.hostid="261" meta.entityid="Mumbai Police">Mumbai Police</keyword> on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. BookMyShow might even consider cancelling the tickets purchased through unauthorised sources. <a href="https://www.businessinsider.in/business/news/coldplay-india-2025-concert-bookmyshow-might-cancel-tickets-sold-through-unauthorised-channels-files-fir/articleshow/113925164.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>‘Being pressurised to meet targets at any cost, I am leaving’: Bajaj Finance employee dies by suicide, leaves note blaming work stress </h2> A couple of days back, EY employee Anna Sebastian Perayil’s death had left the entire nation shocked. This week, yet another tragic incident has unfolded in Jhansi. A 42-year-old area manager, employed by Bajaj Finance, was found dead in his home on Sunday morning. According to a PTI report, the employee, named Tarun Saxena, ended his life by hanging, leaving behind a suicide note in which he alleged severe work pressure and mental harassment by his superiors. <a href="https://www.businessinsider.in/business/news/being-pressurised-to-meet-targets-at-any-cost-i-am-leaving-bajaj-finance-employee-dies-by-suicide-leaves-note-blaming-work-stress/articleshow/113843117.cms" data-type="tilCustomLink" target="_blank">Read more </a> <h2>Amazon could cut 14,000 managers soon and save $3 billion a year, according to Morgan Stanley</h2> Last month, CEO Andy Jassy announced plans to boost the ratio of individual contributors to managers at Amazon by at least 15% by the end of the first quarter of 2025. By reducing the number of managers, Jassy aims to streamline operations, eliminating unnecessary layers of management and enabling the company to operate more efficiently without bureaucratic obstacles. This initiative could potentially result in the loss of around 13,834 managerial positions by early next year, which Morgan Stanley estimates could lead to cost savings of between $2.1 billion and $3.6 billion, according to a note released on Thursday. <a href="https://www.businessinsider.in/tech/news/amazon-could-cut-14000-managers-soon-and-save-3-billion-a-year-according-to-morgan-stanley/articleshow/113918663.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Ranveer Allahbadia YouTube channel hack – What steps should you take to protect and recover your account? </h2> Ranveer Allahbadia, widely known as BeerBiceps, recently faced a setback when his YouTube channels were hacked, leading to the deletion of all his videos and the renaming of his channels. However, YouTube has since removed the hacked accounts, and they were restored today, along with all the original content. While Allahbadia, as a prominent YouTuber, was able to regain access to his accounts with relative ease, not everyone has the same resources or connections. This situation highlights the importance of knowing how to safeguard your account and the steps to take if it becomes compromised. <a href="https://www.businessinsider.in/tech/news/ranveer-allahbadia-youtube-channel-hack-what-steps-should-you-take-to-protect-and-recover-your-account/articleshow/113738508.cms" data-type="tilCustomLink" target="_blank">Read more </a><h2> Top web stories of the week</h2> <a href="https://www.businessinsider.in/stock-market/webstories/indias-biggest-ipos-by-issue-size/slidelist/113916108.cms" data-type="tilCustomLink" target="_blank">India's biggest IPOs by issue size</a> <a href="https://www.businessinsider.in/thelife/webstories/9-effective-brain-exercises-to-improve-memory-and-focus/slidelist/113622167.cms" data-type="tilCustomLink" target="_blank">9 brain exercises to improve memory and focus</a> <a href="https://www.businessinsider.in/travel/india/webstories/tired-of-jaipur-check-out-these-7-alternative-places-in-rajasthan/slidelist/113819793.cms" data-type="tilCustomLink" target="_blank">Tired of Jaipur? Check out these 7 alternative places in Rajasthan</a>

Weekend wrap: Experts talk about Sensex reaching 100,000 mark, Amazon plans major managerial cuts

Shares of Anil Ambani-led group firms -- <keyword id="20367971" type="General" weightage="20" keywordseo="reliance-home-finance" source="keywords">Reliance Home Finance</keyword> Ltd, <keyword id="6360089" type="General" weightage="20" keywordseo="Reliance-Power" source="Orion">Reliance Power</keyword> and <keyword id="46907" type="General" weightage="20" keywordseo="Reliance-Communications" source="Orion">Reliance Communications</keyword> -- hit their <keyword id="10112182" type="General" weightage="20" keywordseo="lower-circuit-limits" source="Orion">lower circuit limits</keyword> on Monday as investors continued to desert the counters after markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> barred the industrialist and 24 others from the securities market for five years on charges of diversion of funds from <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Home Finance Ltd. The stock of Reliance Power dropped 4.99 per cent to hit the lower circuit limit of Rs 32.73 on the BSE. Shares of Reliance Home Finance Ltd tumbled 4.93 per cent to Rs 4.24 -- the lowest trading permissible limit for the day. Reliance Communications dived 4.92 per cent to touch the lower circuit of Rs 2.32. Reliance Infrastructure also declined 2.90 per cent to Rs 205.55. Shares of Reliance Infrastructure, Reliance Home Finance and Reliance Power had slumped on Friday also. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a director or Key Managerial Personnel (KMP) in any listed company or Sebi-registered entity for five years. Besides, a fine ranging Rs 21 crore to Rs 25 crore has been levied on 24 entities. Also, the regulator barred Reliance Home Finance from the securities market for six months and slapped a fine of Rs 6 lakh on it. After receiving multiple complaints alleging the diversion/siphoning of funds of Reliance Home Finance Ltd, Sebi conducted an investigation for the period of FY 2018-19 to ascertain any regulatory violations. In its probe, Sebi found that <keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>, with the help of RHFL's KMPs -- Amit Bapna, Ravindra Sudhalkar and Pinkesh R Shah -- have orchestrated a fraudulent scheme to "siphon off" funds from RHFL by disguising them as loans to entities linked to him. Although the board of directors of RHFL had issued strong directives to stop such lending practices and review corporate loans regularly, the company's management ignored these orders. Sebi, in its 222-page order on Thursday, noted the cavalier approach by the company's management and promoter in approving loans worth hundreds of crores to companies that had little to no assets, cash flow, net worth, or revenue. This suggests a sinister objective behind the 'loans'. The situation becomes even more suspicious when considering that many of these borrowers were closely linked to the promoters of RHFL. Eventually, most of these borrowers failed to repay their loans, causing RHFL to default on its own debt obligations. This led to the company's resolution under the RBI Framework, leaving its public shareholders in a difficult position.

Reliance Home Finance, Reliance Power shares hit lower circuit limits

<ul class="summary-list"><li>Anaïs Felt took a "micro-retirement" back in March from her Silicon Valley tech job.</li><li>The time off on her extended leave healed her burnout and changed her relationship to work, she said.</li></ul>Anaïs Felt was exhausted at the start of the year.As a senior product manager at a Silicon Valley tech firm, Felt, 31, commuted an hour to and from her home in San Francisco each day. Her hours in the office on top of a two-hour commute were a stark contrast to the work-life balance she had when she worked remotely during the pandemic."I would come home and be so exhausted that I would just lay on the couch to recuperate, eat dinner, and then go to bed," she said of her routine. "I didn't have the energy to go for a run or spend time with my partner or laugh."It wasn't just the commute wearing on Felt. She told Business Insider that she was also finding work itself more stressful, which came as a surprise to her being 10 years into her career in <a target="_blank" class="" href="https://www.businessinsider.com/tiktoker-sparked-conversation-not-able-to-leave-work-early-2024-3">corporate America.</a>"I was crying a lot," she said. "I had a harder time moving through difficult situations at work."Felt decided to meet with a career coach, who quickly "diagnosed" her with <a target="_blank" class="" href="https://www.businessinsider.com/burnout-is-now-a-clinical-syndrome-2019-5">burnout</a>, a syndrome due to "chronic workplace stress."The diagnosis was a welcome confirmation since Felt recognized the symptoms after reading "Burnout: The Secret to Unlocking the Stress Cycle" by Emily and Amelia Nagoski and Mckinsey's <a target="_blank" class="" href="https://www.mckinsey.com/featured-insights/diversity-and-inclusion/women-in-the-workplace-2023">2023 Women in the Workplace</a> report. She knew experience wasn't uncommon in<a target="_blank" href="https://www.businessinsider.com/mental-health-crisis-great-resignation-tech-industry-silicon-valley-2022-4"> Silicon Valley, particularly for women.</a>Rather than trying to power through her stress or leave tech altogether, Felt decided to take what she called a micro-retirement — or extended break — to address her burnout.<h2 id="eda9f511-a527-4394-ad17-9bf9f3039ece">Taking a break</h2>Felt spent her 20s prioritizing her career, she told BI. She was the first person in her family to attend college, starting her first business when she was an undergrad at Hope College in Michigan. After she graduated from the liberal arts college, her early adult years solely revolved around her job."I was brought up in the <a target="_blank" class="" href="https://www.businessinsider.com/rise-and-fall-girl-boss-analysis-2020-7">girlboss</a> era," she said. "I worked extremely hard and was high-achieving."But a decade later as Felt came to terms with her burnout and thought about what she wanted out of the next phase of her <a target="_blank" class="" href="https://www.businessinsider.com/quit-big-tech-dream-job-pay-perks-not-worth-it-2024-5">career</a>, she decided she needed to take a break from work before moving forward."It felt like it would be good for me — but also good for my future employer — if I went into my next role feeling fully energized and feeling conviction in that next step," she said.Felt <a target="_blank" class="" href="https://www.businessinsider.com/quit-job-travel-after-stress-burnout-at-big-tech-company-2024-8">quit her job</a> in March with the intention of taking up to a year off, thinking of her break as a micro-retirement or a sabbatical. "It's intentional breaks throughout my career where I can just take time to enjoy and live life and recharge for my next role," she said of her definition of micro-retirement. "I'm gonna plan to keep doing this throughout my career every five to 10 years instead of deferring all of it to the end of my career."A September <a target="_blank" class="" href="https://www.tiktok.com/@anaisfelt/video/7419143704482499882">video</a> Felt made about her micro-retirement started a conversation on TikTok, garnering over 189,000 views and racking up more than 500 comments as of Tuesday.<h2 id="8bd54dbe-99f3-4208-b09e-d9ef2d144737">Prepping for her micro-retirement</h2>Felt said she properly planned to be able to <a target="_blank" class="" href="https://www.businessinsider.com/ex-goldman-sachs-wealth-advisor-money-advice-ultrawealthy-2024-10">afford a year off</a> before putting in her notice. She made a habit of saving as she settled into her career. The former senior product manager did not share her salary at her most recent job with BI, but <a target="_blank" class="" href="https://www.levels.fyi/t/product-manager?countryId=254&amp;country=254&amp;search=senior+product+manager">according to Levels.FYI</a>, which collects salary information for tech professionals, the median salary for a product manager was $211,000 as of October.Felt also said she did an audit of her spending before leaving her full time position. "That was really helpful because it helped me pare back in some areas where the spending was more unnecessary," she said. "It improved my relationship with money, and it's made me a bit more diligent with my finances."Felt took care of some regular medical expenses before leaving her job as well, like ordering contacts for the year and going to the dentist. Once she left her company, she joined her partner's health insurance.By March, she was ready for her micro-retirement.<h2 id="d8bbaaaf-2619-4847-a1be-eda023b4faa4">Felt needed more rest than she realized</h2>Felt told BI that she initially planned to take a big trip once she left her job. But <a target="_blank" class="" href="https://www.businessinsider.com/when-to-quit-six-figure-job-for-mental-health">burnout</a> hit her "like a brick wall" once she actually started micro-retirement."I think the first couple of weeks I actually had to accept the fact that I was burned out," she said. "I needed to just sit and relax and rest."Felt said she took it easy for a month before the "burnout cloud" started to lift."I'm so glad that I just sat down for a month because that equipped me to move into the next phase of my micro-retirement, which was doing things I loved and cared about without the excessive burnout," she said.Every day of Felt's micro-retirement looks slightly different, though she tries to stick to a schedule Monday through Friday to give herself some structure. Some days, Felt creates content on TikTok that shows peeks into her life through outfit-of-the-day videos or snippets of her home decor. On other days, she spends her time with her dog or maintains her house. Felt also spends time volunteering in her community and participating in mentorship work."I'm not getting paid for those things, but they're just really energizing because they're connected to purpose and meaning that really resonates with me and my value system," she said.Six months after she left her job, Felt said her mental health has improved, and her burnout is gone.<h2 id="00b03381-aadd-4ccc-ab9d-e412bf96c584">Micro-retirement has changed the way Felt sees her future</h2>Felt told BI that her extended break from work has given her the time and mental space to reevaluate what she wants out of her <a target="_blank" class="" href="https://www.businessinsider.com/quitting-corporate-job-content-creator-reseller-side-hustles-retire-early-2024-7">career</a>. She said "work-life balance and scheduling flexibility" will be a priority moving forward since her community has become more important, and she wants to be a mom someday."Maybe I'll work from home and continue on the corporate path, or maybe I'll start my own business," she said. "There's so much life to be lived outside of my office desk, and life really starts to get richer when it's more diversified."Felt started taking informational interviews six months into her micro-retirement. Still, she doesn't see herself seriously applying for roles until January 2025, partly because she wants to<a target="_blank" class="" href="https://www.businessinsider.com/egg-freezing-fertility-clinics-targeting-gen-z-women-high-cost-2024-6"> freeze her eggs</a> before returning to a full time position.Felt wants others female employees to know they don't have to sacrifice their personal lives for professional success."You can still be high achieving and successful as a woman and intentionally choose work-life balance," she said, "there needs to be harmony there."

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