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Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India. <br /><br />Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding. Vistara's last flight will take off tomorrow i.e. November 11, 2024.<br /><br />Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India. <br /><br />Post-merger, SIA expects to recognize a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. <br /><br />According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to Rs 5,020 crore that would allow it to maintain a 25.1% stake in Air India. <br /><br />"SIA's additional capital injection is expected to be Rs 31,945 million (equivalent to SGD 498 million), based on Tata's funding to Air India to date. This will occur after the completion of the merger and within November 2024 through subscription to new Air India shares. <br /><br />"Future capital injections will be considered based on Air India's requirements and available funding options," according to the release issued while announcing the airline's financial performance for the six months ended September 2024. <br /><br />The merger of Vistara with Air India will mark a major consolidation in the fast-growing Indian aviation space. SIA said the merged entity will have a significant presence across all key Indian air travel segments, including domestic, international, full-service, and low-cost operations. <br /><br />"This will strengthen SIA's multi-hub strategy, allowing it to continue participating directly in India's large and fast-growing aviation market," it added. <br /><br />Recently, Air India and SIA agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

<ul class="summary-list"><li>Replenishment ships are essential to resupplying carrier groups at sea with fuel, food and bombs.</li><li>The US is overhauling its aging ships while China has built a dozen.</li></ul><p>Involved in nearly every crisis since World War II, aircraft carriers have been called upon to assure allies, deter enemies, and strike directly at hostile targets.</p><p>Yet for all their importance, their missions would be impossible if not for the US Navy's unsung workhorses: replenishment ships.</p><p>Replenishment ships loaded with food, fuel and bombs are the reason US carrier strike groups can stay at sea for months at a time. This capability is increasingly vital for the US Navy's chief competitor, China. With the <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-shrinking-china-biggest-fleet-shipbuilding-taiwan-2024-4">largest navy in the world</a>, its lack of overseas military bases only makes the need for this capability greater.</p><p>But replenishment ships also form the weakest link in the chain of <a target="_blank" class="" href="https://www.businessinsider.com/us-vs-chinese-navy-aircraft-carriers-2024-5">American</a> and <a target="_blank" class="" href="https://www.businessinsider.com/chinas-new-aircraft-carrier-more-to-learn-to-match-us-2024-5">Chinese carrier</a> groups. Often unarmed and full of explosive cargo, they are prime targets for any hostile force.</p><div type="image" title="USNS Supply is one of the two largest combat logistics ships in the US Navy's Military Sealift Command." height="1500" width="2100" msid="115143523" hostid="261" sizebytes="299192"></div><h2 id="3d01aa20-7b10-4f31-9c1e-4e4a0f3254e6">US replenishment ships</h2><p>The US Navy's<strong> </strong>Military Sealift Command's Combat Logistics Force (CLF) operates 17 fleet replenishment oilers, 14 dry cargo/ammunition ships, and two fast combat support ships.</p><p>These ships are built to deliver wet cargo (mainly aviation and diesel fuel) and dry cargo like ordnance, food, and spare parts. Though US carriers are nuclear-powered, their escort ships still run on diesel, and their <a target="_blank" class="" href="https://www.businessinsider.com/newest-us-navy-supercarrier-underway-with-all-airpower-first-time-2023-3">air wings</a> require aviation fuel.</p><p>The most capable replenishment vessels in the CLF are the fast combat support ships of the <a target="_blank" href="https://www.navy.mil/Resources/Fact-Files/Display-FactFiles/Article/2174658/">Supply-class</a>, the largest combat logistics ships in the MSC fleet.</p><p>Equipped with four cargo booms for loading cargo, they are capable of carrying 156,000 barrels of fuel, 1,800 tons of ordnance, 400 tons of refrigerated store, and 250 tons of other dry cargo.</p><div type="image" title="Fleet replenishment oiler Henry J. Kaiser refuels a US warship via two hose lines suspended on a tensioned wire between the ships." height="1331" width="2000" msid="115143326" hostid="261" sizebytes="123714"></div><p>These ships have two primary means to transfer cargo: sling loads carried by helicopter or tensioned lines between the ships. They have five fuel-at-sea (FAS) stations that utilize long flexible refueling hoses that travel on the tensioned wire, and six replenishment at sea (RAS) stations that move supplies via the horizontal wire pulley systems on the tensioned line. In addition, the Supply-class ships have a helicopter hangar and deck with space for two helicopters at the stern, enabling helicopter transfer known as vertical replenishment, or VERTREP.</p><p>The FAS/RAS stations, combined with aerial resupply, enable Supply-class vessels to replenish up to four ships at once. Only two Supply-class ships, the USNS Supply and USNS Arctic, remain in service.</p><p>The backbone of the CLF's refueling fleet are the <a target="_blank" href="https://www.msc.usff.navy.mil/Ships/Ship-Inventory/Fleet-Replenishment-Oiler/">Henry J. Kaiser-class</a> fleet oilers. Built between 1984 and 1996, the ships are 677 feet long, displace around 41,000 tons, and can carry up to 159,000 barrels of fuel.</p><p>The Kaisers can refuel two warships simultaneously. They lack a helicopter hangar, but have a deck at the stern where helicopters from nearby ships can sling-load pallets.</p><p>Fourteen Kaisers are in active service with the MSC.</p><p>Though effective for refueling, the Kaiser-class has limited space for dry cargo — only enough for 586 pallets, including frozen and chilled food. The Navy relies on 14 Lewis &amp; Clark-class dry cargo/ammunition ships to fill in the gap.</p><p>The Lewis &amp; Clark-class ships can carry a massive 8,391 tons of dry cargo, including 1,716 tons of refrigerated stores. They also have tanks capable of carrying approximately 25,000 barrels of fuel.</p><div type="image" title="An MH-60S Sea Hawk helicopter delivers supplies to the USS Dwight D. Eisenhower from the fast combat support ship USNS Arctic." height="1331" width="2000" msid="115143525" hostid="261" sizebytes="207016"></div><p>The Kaiser-class replacement effort kicked off in earnest in 2016, when the Navy signed a design and construction contract with General Dynamics, a leading defense contractor and shipbuilder that reported $11.7 billion in revenue in its third-quarter earnings.</p><p>Five years later, the lead ship of the new John Lewis-class was christened.</p><p>The 746-foot-long, double-hull ships can carry 162,000 barrels of fuel, 6,675 tons of dry cargo, and 1,716 tons of refrigerated stores. A helicopter deck at the stern also enables VERTREP.</p><p>Three John Lewis-class oilers — USNS John Lewis, USNS Harvey Milk, and USNS Earl Warren — are in service, and a fourth, USNS Robert F. Kennedy, is set to begin sea trials soon. Another was recently launched and two more are under construction.</p><p>The class will soon become the main fleet oiler. An order for six ships was made in 2018, with options for three more exercised in 2022 and 2023. In September, the Navy signed a $6.7 billion contract for eight more John Lewis-class oilers with General Dynamics's National Steel and Shipbuilding Company. The Navy hopes to have 20 of the vessels in total, supplemented by 13 yet-to-be-designed light replenishment oilers.</p><div type="image" title="The Hulunhu fast combat support ship is part of a new class that was built to service China's carrier strike groups." height="1060" width="2000" msid="115143528" hostid="261" sizebytes="205312"></div><h2 id="02ad4c6d-8c78-4ca1-ab92-1b32a6c75d25">China's replenishment ships</h2><p>The US Navy has over <a target="_blank" href="https://www.usni.org/magazines/naval-history-magazine/2018/june/century-replenishment-sea">100 years of experience</a> building and operating replenishment ships. China's experience began in the 1980s.</p><p>Its first replenishment ships could only carry about 10,500 tons of fuel. As China's fleet grew in the 1990s, it searched for a stopgap measure and found it in the Qinghaihu<u>,</u> an oiler built in Ukraine that was intended for the Soviet Navy.</p><p>Ultimately, the Chinese opted to pursue a new design for its next replenishment ships: the <a target="_blank" href="https://www.globalsecurity.org/military/world/china/qiandaohu.htm">Type 903-class</a> oiler.</p><p>These ships can carry around 11,000 tons of cargo, including some 10,000 tons of fuel. Like the Qinghaihu, the Type 903s have a helicopter deck and helipad.</p><p>Nine ships were built between 2002 and 2018, all of which are in service.</p><p>The Type 903s form the backbone of China's replenishment fleet, but they are not the most capable. That title goes to the PLAN's Type 901-class fast combat support ships.</p><p>The ships, which NATO designated the "Fuyu-class," are 787 feet long, displace 45,000 tons, have a helicopter deck and hangars, and are equipped with 5 FAS and 2 RAS stations. They are primarily meant to service China's carrier groups and can keep up as they are propelled by four gas turbine engines.</p><p>The size, mission, and speed of the ships are comparable to the US Navy's Supply-class. Two Type 901s have been built: the Hulunhu and the Chaganhu.</p><div type="image" title="Replenishment ships like the Lewis and Clark-class dry cargo and ammunition ships are essential to carrier operations but are highly vulnerable to attack." height="1333" width="2000" msid="115143527" hostid="261" sizebytes="344510"></div><h2 id="e54916fd-474c-416c-9f6b-46ac068eead5">'Weakest link'</h2><p>The important role these ships play is hard to overstate.</p><p>Between October 2023 and May 2024 in support of <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-weapons-expenditure-cost-middle-east-conflicts-2024-10">Red Sea operations</a>, for instance, USS Supply <a target="_blank" href="https://gcaptain.com/usns-supply-crew-honored-for-exceptional-service-in-red-sea-operations/">replenished</a> US and allied ships 143 times, transferring over 87 million gallons of fuel and 14,928 pallets of supplies in the process.</p><p>The Henry J. Kaiser- and Lewis and Clark-class vessels also enabled the continuous presence of <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-carrier-strike-groups-significant-combat-power-middle-east-2024-8">two carriers in the Middle East</a>.</p><p>The PLAN's oilers, meanwhile, have extended the reach of its warships. <a target="_blank" href="https://digital-commons.usnwc.edu/cgi/viewcontent.cgi?article=1007&amp;context=cmsi-notes">Its contributions to international anti-piracy efforts in the Gulf of Aden</a> have, since 2008, almost always been made up of two surface combatants and one oiler, enabling each task force to stay on station for 4 months.</p><p>The new Type 901s are already proving their worth. Last year, the Type 901-class oiler Chaganhu supported the Shandong carrier group during a series of exercises near Taiwan, Guam, and in the South China Sea. This included 620 aircraft sorties in just 18 days, <a target="_blank" href="https://news.usni.org/2023/07/14/japan-releases-fighter-scramble-data-against-chinese-aircraft">according</a> to the Japanese Ministry of Defense.</p><p>In all, <a target="_blank" class="" href="https://www.businessinsider.com/chinas-growing-navy-conducts-first-dual-aircraft-carrier-drills-2024-10">Shandong</a> spent about as much time at sea as any US carrier in the western Pacific that year, due in no small part to its replenishment ships.</p><p>Yet replenishment ships are also the weakest link in each country's carrier groups. The most obvious reason is that they are almost completely unarmed, making them defenseless. Their defenses are instead provided by escort ships.</p><p>They also face additional challenges unique to each country. The US, for instance, faces a manpower shortage, limited <a target="_blank" class="" href="https://www.businessinsider.com/new-us-navy-warships-delayed-photos-2024-4">shipyard capacity</a>, and an aging fleet with ships approaching the end of their expected service lives.</p><p>Military Sealift Command employs mostly civilian merchant mariners, but now has a recruiting issue of its own.</p><p>The manpower issue has been serious enough for MSC to <a target="_blank" href="https://news.usni.org/2024/08/22/navy-could-sideline-17-support-ships-due-to-manpower-issues">propose sidelining 17 of its ships</a> — including two Lewis &amp; Clark-class ammo ships and one Kaiser-class oiler — so their crews could be sent to serve on other vessels.</p><p>The Kaiser-class itself is aging quickly. Four of the active oilers are already past their 35-year service lives, while one, USNS Pecos, departed for deactivation last month.</p><p>Ships can have their service lives extended, but American shipyards appear unable to <a target="_blank" href="https://thehill.com/opinion/national-security/4624326-almost-all-navy-shipbuilding-is-hopelessly-behind-schedule-as-war-looms/">keep up with demand</a> for new ships and maintenance for active ones, with some estimating that the Navy is as many as 20 years behind in needed maintenance.</p><p>The backlog may be why only one Kaiser-class oiler, <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-fired-captain-didnt-fix-steering-problem-near-miss-2024-9">USNS Big Horn</a>, was present in the Middle East during tensions between Israel and Iran in late September. This almost caused major problems when the ship accidentally <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-fuel-ship-damaged-incident-middle-east-2024-9">ran aground</a> and could no longer operate, forcing the Navy to rely on two Lewis &amp; Clark-class ammunition ships for refueling duties despite their smaller capability. The incident exposed <a target="_blank" href="https://responsiblestatecraft.org/refueling-navy-middle-east/">just how fragile UNREP networks can be</a>.</p><p>China, meanwhile, has just 12 oilers despite having the world's largest navy, which puts a considerable strain on those ships. Additionally, its logistical network is hampered by a lack of overseas naval bases, which can serve as refueling and resupply stations for the oilers.</p><p>China has the <a target="_blank" class="" href="https://www.businessinsider.com/chinas-shipbuilding-power-players-making-warships-at-a-rapid-pace-2024-9">largest shipbuilding industry</a> in the world, however, enabling it to quickly build more oilers and convert some of its merchant ships into replenishment ships. It has also been attempting to expand its "String of Pearls"— Chinese-controlled ports in countries across the Indian and Pacific oceans that could support military ships.</p><p><em>Benjamin Brimelow is a freelance journalist covering international military and defense issues. He holds a master's degree in Global Affairs with a concentration in international security from the Fletcher School of Law and Diplomacy. His work has appeared in Business Insider and the Modern War Institute at West Point.</em></p>

US vs. Chinese replenishment ships: The workhorses that keep aircraft carriers operating

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors.<br /><br />As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions.<br /><h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day:<br /><br /><ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services.<br />    <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program.<br /><br />Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs.<br /><h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible.<br /><h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail.<br /><h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years.<br /><h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly.<br />    <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div><br />

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

<keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> laid off thousands of employees in 2023 and many found their lives turned upside down with just an email notification. After all, when you have given your heart and soul to an organisation, it is never easy accepting the fact that you are being asked to leave at a moment’s notice. The situation becomes even more complicated when you have been with the company for more than a decade. <br /><br />Something similar happened with <keyword id="23300967" type="General" weightage="20" keywordseo="Nicholas-Whitaker" source="keywords">Nicholas Whitaker</keyword>, who had been working with the company since 2010 and found out about his <keyword id="20118388" type="General" weightage="20" keywordseo="layoff" source="keywords">layoff</keyword> abruptly. <br /><br /><h2>The 3 am email bringing bad news</h2>“My layoff experience was traumatic. I got an email at 3 am to my personal email, that I only found because a colleague pinged me on Linkedin in the DMs to ask if I was ‘Ok’ and if I was ‘safe’,” Whitaker told <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword> in a conversation. <br /><br />He added that when his colleague enquired about his safety, he thought it was a “shooting or some natural disaster.” In other words, he didn’t even imagine that he was being laid off from Google.<br /><br />He then revealed that when he checked his work email, he discovered that he was locked out of his laptop and phone. He then checked his personal email and there it was, the “short and impersonal email” that told him that his role at Google was being eliminated.<br /><br /><h2>The layoff process was uncomfortable</h2>When Google announced large-scale layoffs last year, the company made a lot of headlines for handling them in an unprofessional manner. In March 2023, several Google employees had even written an open letter to Google CEO Sundar Pichai, asking him to deal with layoffs in a better manner. <br /><br />Whitaker, narrating his own experience, shared with Business Insider India that after receiving the dreadful layoff email at 3 am, he spent the next few months completing formalities to get his payments that were due.<br /><br />He said, “It took all of the next several months for me to mail back my laptop, badge and any gear that I had that was Google property. (I also had to) navigate unemployment, health insurance and get all of the documentation I had to submit to "self Offboard" and to receive payments that I was supposed to get.”<br /><br />“Along the way there were multiple errors and miscommunications from the team that made it all even more uncomfortable,” he said.<br /><br />Whitaker also noted a complete lack of communication and empathy from his old team at Google. <br /><br />“I got a single text message from my prior manager asking how I was doing a few days after I was laid off, but otherwise no one reached out to check on me or offer assistance from my old team. Overall I found the process to be brutally impersonal and inhumane,” he said.<br /><br /><h2>Experience at Google</h2>But was Google always “inhumane” in his experience? Not really. There were some amazing days too and Google, according to Whitaker, was a different company when he had joined.<br /><br />“My initial experience working at Google was like it was a completely different company. I started as a temp, contractor and then a vendor for Google back in 2010, and at the time I think it was something like 40,000 employees. It had a real startup feel to it. Teams were agile and collaborative, and there was a lot of room for growth. It may have been specific to my team and org, but it felt like you had a lot more room for experimentation and autonomy to make decisions, and failure wasn't seen as a bad thing, but a necessary part of innovation,” he said. <br /><br />Whitaker also said that a “class system” was there at Google, especially since he was a TVC (Temporary, Vendor and Contractor).<br /><br />“As a TVC you wouldn't be included in many of the activities and learning opportunities that full time employees had, and didn't get invited to extracurricular activities. There was a real bias towards culture at the time, and words like Don't be Evil, and be Googly were often used.”<br /><br />However, in general, he added that the atmosphere was positive and full of possibilities. “Colleagues generally were very supportive, collaborative and encouraging to work with. I was excited as this was my first time working in big tech, or Corporate America and I saw that period of time as a real coming of age for me. I learned how to be a professional at Google and appreciated all of the early guidance and support that I got from colleagues and leaders.”<br /><br /><h2>Helping others</h2>It has now been over a year since Whitaker was laid off. He now has his own venture and helps other people navigate their careers.<br /><br />Talking about what motivated him to kick-start his own venture, he said, “After 13 years in big tech, the last few years in particular being particularly difficult due to toxic teams and leaders, I didn't want to jump right back into that kind of experience again. A year before getting laid off, I had experienced a bad <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> crisis that was the result of workplace bullying, gaslighting and toxic leadership. <br /><br />"I wanted to help others avoid and recover from similar situations and create a community where people can find mutual support and coaching on how to best navigate their careers in a conscious way. My severance after working so long at Google allowed me to fund the launch of my coaching business, and eventually ‘changingwork.org’."<br /><br /><keyword id="23300968" type="General" weightage="20" keywordseo="Changing-Work" source="keywords">Changing Work</keyword>, Whitaker explained, is his way of addressing a deep need in corporate life — helping people rediscover their sense of purpose and alignment in their careers and finding ways to build more conscious leaders and businesses.<br /><br />He added, “What makes this so transformative for me personally is that it allowed me to step into a role where I could integrate all the lessons from my own career—especially the parts that were hardest for me. During my time at Google, I saw firsthand how high-pressure environments can lead to burnout, anxiety, and a disconnect from our true selves.”<br /><br />The recent tragic death of a young CA at Ernst &amp; Young (EY) employee in India has turned the spotlight on toxic work cultures prevalent in many high-pressure industries. Broader debates on burnout, mental health struggles, and unrealistic expectations in corporate environments in the workplace have occupied social media platforms. This incident serves as a painful reminder that companies must prioritize <keyword id="21050364" type="General" weightage="20" keywordseo="employee-well-being" source="keywords">employee well-being</keyword> and mental health to foster sustainable, humane workplaces. And makes the work that people like Whitaker are doing all the more important.<br /><br />“I’ve spoken publicly about how mindfulness practice, coaching and therapy literally saved my life during some of my darkest times at Google. Changing Work is the culmination of that journey. It’s not just about helping others find balance and fulfillment—it’s about creating a space where I can live those values every day,” he concludes.<br />

Fired from Google after 13 years of service, he used his severance to build a business around helping others with their careers

My flight was delayed by over 3 hours. The carrier did not compensate for it. Here's how it unfolded

In an era where customer experience is a primary business differentiator, the role of service hubs has evolved from merely answering calls to becoming innovation centers. With the infusion of advanced technologies like <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> (<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>) and Generative AI (Gen-AI), the service hub industry is now undergoing a transformation that promises to redefine customer interactions, according to experts. <br /><br />“The nature of the industry will change. I think even calling it <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword> or service industry may be a very different outlook 5 years from now,” said Sameer Bapat, SVP and COO of Cognizant IOA, during a panel discussion on “Revolutionsing Customer Experience Innovating Service Hubs Through Technology,” hosted by Business Insider India.<br /><br />Leaders in the industry believe that India is entering the golden age of customer service, one powered by data-driven insights, AI-driven empathy, and evolving human-machine collaboration.<br /><br />“The net amount of venture capital and private equity capital that you’re going to see in the customer service industry going forward is going to 5-10x of what it has been in the last 5 years,” predicted panelist Vijay Narsapur, SVP and Business Head of Infosys BPM.<br /><br /><div type="Youtube" id="E23CeECUh9A" title="Revolutionizing Customer Experience: Innovating Service Hubs Through Technology" thumbUrl="https://i.ytimg.com/vi/E23CeECUh9A/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=E23CeECUh9A]]></url></div><br /><h2>The evolution of service hubs: More than customer service</h2>No longer just centers for addressing customer complaints or technical issues, today’s service hubs are integrating innovative technologies to become the nerve center of business operations. According to Sanjay Kukreja, Global Technology Head at Eclerx, tools like data engineering and cloud computing have shifted customer service into real-time interactions, allowing businesses to assist customers faster and more efficiently than ever before.<br /><br />For Narsapur, service hubs are now the lifeblood of the business process management (BPM) industry. End customers have become increasingly comfortable interacting with AI and automated systems. However, they still crave human connection, especially when complex or emotionally charged issues arise. Narsapur points out that this blending of technology and human touch is crucial for refining the customer journey. As businesses scale, service hubs are expected to balance these elements more tightly to deliver both efficiency and empathy.<br /><br /><h2>AI and Gen-AI: Disruptors or Enhancers?</h2>Arguably, the most significant driver of change in the service hub industry has been the integration of AI and Gen-AI.  Bapat explains that these technologies have transformed how service hubs operate. Automation tools have led to productivity gains ranging between 20% to 60%, primarily by streamlining mundane tasks, improving scalability, and delivering more personalized customer interactions. This isn’t just an incremental improvement—it’s a deep, domain-led transformation of how companies interact with their customers.<br /><br />But, as Abhinandan Jain, Chief Growth Officer at Startek, notes, AI doesn’t just enhance efficiency—it also amplifies empathy. Service hubs are learning how to use AI as an "empathy amplifier," where AI-driven systems handle routine queries, and human agents step in for more complex, emotionally charged interactions. This helps agents focus on delivering the high-touch experiences customers expect when they escalate an issue to a real person.<br /><br />While there has been some anxiety surrounding AI replacing jobs, the experts argue that this technology will instead create more high-value roles. ““There is going to be an increase of anywhere between 2x to 5x in the number of jobs that are going to be created in this particular industry,” said Narsapur.<br /><br />For example, there will be an increasing demand for professionals skilled in data science, machine learning, and algorithm management to maintain and improve AI systems. According to a <a href="https://www.mckinsey.com/mgi/our-research/generative-ai-and-the-future-of-work-in-america">McKinsey</a> report, AI will automate 25-30% of jobs in customer service, but the technology will also create new roles in AI supervision, data analysis, and customer experience management.<br /><br /><h2>Data-driven insights and the role of <keyword id="23232621" type="General" weightage="20" keywordseo="CRM-tools" source="keywords">CRM tools</keyword></h2>One of the most promising developments in the service hub sector is the increasing reliance on data to drive customer interactions. Jain explains that service hubs are now equipped with sophisticated Customer Relationship Management (CRM) tools that can mine both structured and unstructured data, enabling companies to gain a holistic view of customer behavior. This level of insight allows businesses to not only address customer queries more efficiently but also predict future needs, making the customer journey more proactive than reactive.<br /><br />These CRM platforms are evolving, too. Narsapur notes that many service hubs, particularly in industries like banking and telecom, now use platforms that integrate various aspects of customer interaction, from onboarding to relationship management. These platforms provide a unified view of customer interactions, allowing agents to access the information they need quickly, which ultimately drives faster resolution times and higher customer satisfaction.<br /><br />A <a href="https://www.gartner.com/en/newsroom/press-releases/2021-01-12-gartner-predicts-80--of-customer-service-organization">Gartner</a> study revealed that by 2025, 80% of customer service interactions will be handled by AI and CRM systems, up from 52% in 2020.<br /><br /><h2>The economic impact of AI on service hubs</h2>The rise of AI and Gen-AI is also fueling an economic boom in the service hub sector. Jain predicts that the influx of venture capital and private equity in AI research for customer service hubs will increase five- to ten-fold in the coming years. This investment is primarily driven by the need for businesses to remain competitive in an increasingly tech-driven market. The economic growth potential is massive, especially in regions like India, where the talent pool for AI and data science is unmatched.<br /><br />Kukreja echoes this sentiment, noting that India’s service hubs are well-positioned to lead this transformation due to their depth of talent in areas such as data engineering, mathematics, and AI development. This gives Indian service hubs a competitive edge as companies look to scale their customer service operations with tech-driven solutions.<br /><br />Global spending on Gen-AI is expected to reach $26 billion by 2027, with Japan and India set to become the most rapidly expanding markets in the forthcoming years, according to <a href="https://www.idc.com/getdoc.jsp?containerId=prAP52048824">IDC</a>.<br /><br /><h2>What lies ahead for service hubs?</h2>As we look to the future, the role of service hubs will likely expand even further. Narsapur warns that while platforms and AI will drive efficiency, businesses should not rely solely on technology. Competitive advantage will come from the integration of human expertise, technology, and industry-specific solutions. Different sectors, such as banking, telecom, and retail, each have unique needs that service hubs must adapt to in order to provide effective, personalized customer experiences.<br /><br />AI will play a central role in this transformation. But as Jain points out, it won’t replace human agents entirely. Instead, it will coexist with them, moving people up the value chain to focus on higher-value tasks. AI will handle the routine, while humans will step in where emotional intelligence and complex problem-solving are required.<br /><br />In the end, the future of service hubs is not just about technology; it’s about blending tech and humanity in a way that elevates customer experiences to new heights.<br /><br />We are at the dawn of a new era for customer service hubs. The infusion of AI and Gen-AI, along with data-driven insights and sophisticated CRM tools, is transforming the industry from the ground up. Far from being a threat to jobs, AI will create new opportunities, leading to a more dynamic, efficient, and empathetic customer experience. With significant economic growth on the horizon, particularly in regions like India, the service hub industry is set to play a pivotal role in the future of business. The golden age of customer service is here, and the best is yet to come.<br /><br /><strong><em>This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the second session </em><a href="https://www.youtube.com/watch?v=E23CeECUh9A"><em>here</em></a></strong><em><strong>.</strong></em><em><br /></em><br /><em>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in</em><br />

Customer service hubs: Entering the golden age with Gen-AI and tech-driven solutions

The <keyword id="1370377" type="General" weightage="20" keywordseo="BPM-industry" source="Orion">BPM industry</keyword> in India is at the cusp of a transformation and the demand for AI-enabled talent is set to surge, redefining workforce needs across the sector.<br /><br />“My spectrum tells me, in the next 3-5 years, there’s going to be an uptick in AI-enabled workers till the time that models stabilise,” said Nitasha Atreya, the Head of Transformation, Digital Operations and Platforms at Wipro, during a panel discussion on “AI-Ready <keyword id="20041791" type="General" weightage="20" keywordseo="bpm" source="keywords">BPM</keyword> Industry in India,” hosted by Business Insider India. <br /><br />While AI has the potential to streamline many business processes, industry experts caution against relying solely on AI. Human intervention is still required, which means skilling new talent and upskilling existing talent is vital to leveraging AI effectively. Investing in these areas allows organisations to better meet evolving demands with a workforce that complements AI-driven solutions.<br /><br /><div type="Youtube" id="3ewvUSYfG1M" title="Al-Ready BPM Industry In India" thumbUrl="https://i.ytimg.com/vi/3ewvUSYfG1M/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=3ewvUSYfG1M]]></url></div><br /><h2>Why human intervention is critical</h2>As the demand for AI and generative AI models is rising among BPM clients, particularly for model-building capabilities, so is the demand for AI-skilled workers. <br /><br />“For us to have the right intervention for human-in-the-loop processes, it’s essential that we develop an AI-enabled workforce,” Mythily Ramesh, Co-Founder and Director of NextWealth told Business Insider. Ramesh shared industry projections that estimate AI could create up to 100 million jobs globally. <br /><br />AI models generate predictions based on historical data and probabilities, but human oversight is essential to ensure accuracy and minimise errors. “AI as an enabler or augmenting the human workforce is probably the way this industry is going to progress. With the risks that are associated with completely leaving AI to replace humans – it’s just not going to work,” explained <keyword id="23987938" type="General" weightage="20" keywordseo="sundar-hariharan" source="keywords">Sundar Hariharan</keyword>, Vice President of Digital Business Experience Centre at Alorica IQ.<br /><br /><h2>Shaping the future of AI And BPMs with collaborative intelligence</h2>The panellists emphasised a significant challenge in AI model development: only 1 in every 100 models actually makes it to deployment. <br /><br />For all of these models, a rigorous process of training and fine-tuning is required, using either synthetic or human-generated data. This process is not just about feeding the model data but also validating the output to ensure it functions as intended.<br /><br />“There’s a lot of requirements for data training and validation,” said Ramesh, highlighting the substantial demand for data annotators, labelers, and specialists in areas like image and video annotation. These roles are crucial for ensuring that the data used to train models is of high quality and accurately reflects the task at hand.<br /><br />However, the skills required for these roles go beyond traditional data labelling.<br /><br />The workforce must move away from rigid Standard Operating Procedures (SOPs) and understand the context in which data is being used. This requires employees to make judgement calls that help refine the model’s performance, adapting to continuously evolving instruction sets. "It’s collaborative intelligence—human intelligence combined with artificial intelligence," Ramesh noted.<br /><br />To address this evolving demand for skills, companies like Wipro have implemented comprehensive upskilling programs. These programs are tailored to different business segments, from basic AI awareness (AI 101) to advanced training for developers, engineers, and architects—those working directly on the models. <br /><br />Atreya shared that over 10,000 developers and engineers at Wipro are currently receiving training across these programs. <br /><br /><h2>AI’s role in transforming BPM operations</h2>According to Suhrid Brahma, the Chief Technology Officer at WNS Global Systems, the core model of the BPM industry is changing. “There is a shift from focus on people, to outcomes and value-add as an industry,” he said. <br /><br />He outlines a three-part strategy for the upgrades needed in AI-driven BPM, beginning with AI in operations. By building an AI-skilled workforce and maintaining a ‘human in the loop’ approach, organisations can maximise the value of AI while keeping essential human oversight. <br /><br />The second area is AI for applications and platforms. Each BPM deal has a technological component, which varies from client to client, but AI should be woven directly into these enterprise systems to ensure seamless functionality. <br /><br />Lastly, he highlights AI’s evolving role in analytics, shifting from retrospective analysis to providing predictive insights that drive proactive decision-making across the organisation.<br /><br />“This whole industry will grow for sure. But the nature of work we do, the kind of value-add we do for clients and the kind of outcomes we deliver as an industry, will definitely change,” Brahma noted.<br /><br /><h2>Navigating an evolving AI landscape in BPM</h2>As AI continues to reshape BPM, the nature of customer needs is also changing. With AI, businesses now have the potential to drive end-to-end process automation, where one part of the process is handled by the BPM organisation and the other by the client, fostering a more collaborative approach to AI adoption.<br /><br />Hariharan noted that BPM providers are transitioning into more tech-driven organisations, as AI increasingly becomes a key enabler of business processes. <br /><br />However, the road to AI integration is not without challenges. Atreya pointed out several challenges like siloed technology limiting the potential of AI to drive meaningful results.<br /><br />Atreya highlighted that siloed technology often limits the ability of AI to drive results. Organisations must assess whether they are AI-ready, with a mature data infrastructure and robust data availability.<br /><br />According to her, the most pressing concern remains ensuring ethical and responsible AI deployment, as new regulations continue to evolve.<br /><br />For sectors like BFSI, tech integration is already advanced, but industries like logistics have an opportunity to leapfrog by integrating systems and running processes end-to-end with AI, according to Brahma. He emphasised the importance of data integration to fully benefit from AI.<br /><br />Looking ahead, the panellists see huge opportunities in sectors like e-commerce and automotive, where AI-driven services are changing the landscape. The key to success will be collaboration, integration, and a well-trained workforce prepared to drive this AI-enabled transformation.<br /><br /><strong><em>This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the third session </em><a href="https://youtu.be/3ewvUSYfG1M"><em>here</em></a><em>.</em></strong><em><strong><br /></strong></em><br /><em>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on </em><a href="mailto:insiderstudios@businessinsider.in"><em>insiderstudios@businessinsider.in</em></a><br />

India's BPM industry to see sharp demand for AI-skilled talent over the next 3-5 years

India's economic engine is roaring, and the job market reflects that optimism. The latest <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-2024 paints a picture of a growing economy brimming with opportunities, but also cautions of potential roadblocks on the road to success.<br /><br /><h2>Cause for celebration</h2>The good news is plentiful, if the recent Economic Survey tabled by <keyword id="20426375" type="General" weightage="20" keywordseo="Union-Finance-Minister-Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister Nirmala Sitharaman" meta.hostid="261" meta.entityid="Union Finance Minister Nirmala Sitharaman">Union Finance Minister Nirmala Sitharaman</keyword> is to be believed. The <keyword id="20054242" type="General" weightage="20" keywordseo="unemployment-rate" source="keywords">unemployment rate</keyword> has dipped to an impressive 3.2% in 2022-23, signifying a more vibrant job market. Increased participation of young people and women in the workforce presents a golden opportunity to leverage India's demographic dividend and achieve greater gender equality. Additionally, a surge in net payroll additions under the Employees' Provident Fund Organisation (EPFO) indicates a healthy rise in formal jobs, offering much-needed security for workers.<br /><br />The government's "Skill India" initiative is gaining traction, with a significant rise in the number of people undergoing skill development programs, the Economic Survey highlighted. This is crucial, as India's burgeoning tech scene, with its skyrocketing number of startups, is creating a wealth of new opportunities that demand a skilled workforce.<br />  <div type="Article" hostid="261" msid="111920956" title="FM Nirmala Sitharaman tables Economic Survey 2023-24 in Lok Sabha" mstype="2" mssubtype="0"></div><br /><h2>Challenges on the horizon<br /></h2>However, amidst the optimism, there are challenges to navigate. While <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> (AI) promises to revolutionise industries, it also poses a threat to some existing jobs. The Economic Survey emphasises the need to use technology for collective benefit, advocating against over-reliance on automation.<br /><br />Another significant hurdle is the widening <keyword id="21466653" type="General" weightage="20" keywordseo="skills-gap" source="keywords">skills gap</keyword>. The rapid transformation of the <keyword id="20001119" type="General" weightage="20" keywordseo="services-sector" source="keywords">services sector</keyword>, marked by the rise of domestic service delivery powered by technology (think online food delivery and home automation) and the diversification of India's services exports beyond traditional sectors like IT, demands a workforce equipped with specialised skills. Areas like Blockchain, Machine Learning, <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">Cybersecurity</keyword>, <keyword id="19960489" type="General" weightage="20" keywordseo="cloud-computing" source="keywords">Cloud Computing</keyword>, and Web and Mobile Development are becoming increasingly important.<br /><br />Outdated regulations, particularly those related to land use and restrictions on women's working hours, are further hindering job creation and female labour force participation. Deregulation in these areas is crucial to unlock India's full growth potential, according to the Economic Survey.<br /><br />The report also highlights the need for industry to take the lead in fostering innovation and skill development. Collaboration with academia and revamped vocational education programs are key to bridge the current skill gap.<br />  <div type="Article" hostid="261" msid="111922453" title="AI casts huge pall of uncertainty over impact on workers across skill levels: Economic Survey" mstype="2" mssubtype="0"></div><br /><h2>Opportunities beyond tech</h2>The Economic Survey identifies promising sectors with the potential to create a significant number of jobs:<br /><br /><ul><li>Agro-processing: This sector can be a major job generator, especially in rural areas.</li><li>Care Economy: The growing demand for elder care and childcare services presents an opportunity for skilled professionals.</li><li>Tourism: While AI might moderate India's services export growth, the report emphasises the importance of the <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, which is relatively less skill-dependent, for employment generation. To capitalise on this opportunity, public policy should focus on enhancing the tourism sector's infrastructure and services.</li></ul><h2>Upskilling for the future</h2>India's job market is on an exciting trajectory. But addressing the skills gap, adapting to technological advancements and promoting innovation is crucial. By upskilling the workforce through government and industry collaboration, India can become a high-value partner in areas like cybersecurity and enterprise management.<br /><br />  <div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div><br />

Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development

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.<br /><br />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:<br /><h2><keyword id="20713434" type="General" weightage="20" keywordseo="harshad-mehta" source="keywords">Harshad Mehta</keyword> Scam (1992) – ₹4,000 Crore<br /></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.<br /><br />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.<br /><h2><keyword id="23122396" type="General" weightage="20" keywordseo="satyam-scam" source="keywords">Satyam Scam</keyword> (2009) – ₹14,000 Crore<br /></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.<br /><br />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.<br /><h2>Punjab National Bank Scam (2018) – ₹13,700 Crore<br /></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.<br /><br />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.<br /><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.<br /><br />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.<br /><h2>Saradha Chit Fund Scam (2013) – ₹2,500 Crore<br /></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.<br /><br />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.<br />  <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><br /><h2><keyword id="6560832" type="General" weightage="20" keywordseo="2g-spectrum-scam" source="Orion">2G Spectrum Scam</keyword> (2008) – ₹1,76,000 Crore<br /></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.<br /><br />Sadly, all key figures involved were acquitted despite the Supreme Court’s intervention and cancellation of 122 telecom licences.<br /><br /><h2><keyword id="455134" type="General" weightage="20" keywordseo="coal-allocation-scam" source="Orion">Coal Allocation Scam</keyword> (Coalgate) (2012) – ₹1,86,000 Crore<br /></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.<br /><br />While some officials faced legal consequences, many key players were not prosecuted. But it did trigger policy reforms in the allocation of natural resources.<br /><br /><h2>DHFL Scam (2019) – ₹34,615 Crore<br /></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.<br /><br />The case is ongoing, and the main accused are in custody. For now, regulations governing non-banking financial companies (NBFCs) have been strengthened.<br /><br /><h2>Yes Bank Crisis (2020) – ₹3,788 Crore<br /></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.<br /><br />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.<br /><h2>Commonwealth Games Scam (2010) – ₹70,000 Crore<br /></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.<br /><br />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.<br /><br />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.<br />  <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><br />

10 financial scams that shook India: A dive into deception

After years of intensified focus on <keyword id="19897423" type="General" weightage="20" keywordseo="COVID-19" source="keywords">COVID-19</keyword>, <keyword id="19992404" type="General" weightage="100" keywordseo="Tuberculosis" source="keywords">tuberculosis</keyword> (TB) has once again emerged as the leading <keyword id="20564668" type="General" weightage="20" keywordseo="infectious-disease" source="keywords">infectious disease</keyword> killer worldwide. This resurgence is a sobering reminder that despite our pandemic response, TB has continued to claim lives, especially in low- and middle-income countries (LMICs), where resources are often stretched thin.<br /><br />According to the latest <keyword id="19896311" type="General" weightage="20" keywordseo="World-Health-Organization" source="keywords" meta.keywordsubtype="org" meta.entityname="World Health Organization" meta.hostid="261" meta.entityid="World Health Organization">World Health Organization</keyword> (<keyword id="19895006" type="General" weightage="20" keywordseo="WHO" source="keywords">WHO</keyword>) report, approximately 8.2 million people were diagnosed with TB in 2023, marking the highest number of cases recorded since global monitoring began in 1995.<br /><h2><keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Indonesia</h2>The recent spike in TB cases is largely driven by increases in two countries — India and Indonesia. Together, they accounted for 45% of the global rebound in TB diagnoses between 2021 and 2023, underscoring their critical role in the worldwide fight against TB. Three other countries, the Philippines, Nigeria, and Pakistan, also made significant contributions, collectively accounting for another 32% of the increase. This means that more than three-quarters of the global resurgence in TB can be traced to these five countries alone.<br /><br />One key reason for these increases is the “backlog” effect created by COVID-19 disruptions. During the pandemic, healthcare systems in many countries, including India and Indonesia, had to shift focus to COVID-19, which delayed TB diagnosis and treatment. In 2023, as these countries ramped up recovery efforts, many previously undetected TB cases surfaced, creating an apparent spike in reported numbers. This trend highlights the importance of sustainable healthcare infrastructure capable of handling simultaneous health crises.<br /><h2>Gaps in TB case detection</h2>Despite the daunting increase in TB cases, some countries have made notable progress in <keyword id="23741990" type="General" weightage="20" keywordseo="treatment-coverage" source="keywords">treatment coverage</keyword>. Among the 30 high-burden TB countries, those with the highest levels of treatment coverage in 2023 included Brazil, India, Mozambique, Papua New Guinea, Sierra Leone, Uganda, and Zambia, with coverage rates surpassing 80%. India’s <keyword id="21052657" type="General" weightage="20" keywordseo="national-tuberculosis-elimination-program" source="keywords">National Tuberculosis Elimination Program</keyword> (NTEP) has undoubtedly played a pivotal role in this, aiming to eradicate TB by 2025 — five years ahead of the global target. By focusing on expanded testing, improved diagnostic tools, and more accessible treatment options, India has achieved high treatment coverage levels despite the challenges.<br />    <div type="Article" hostid="261" msid="114732986" title="Air Quality Alert: Nearly 30% of asthma cases tied to fine particulate matter exposure from bad air" mstype="2" mssubtype="0"></div>However, a significant treatment gap remains. The difference between estimated TB incidence and actual diagnoses still affects millions, especially in countries with large populations like India, Indonesia, Pakistan, China, and Myanmar. These five nations together account for about 50% of the global gap in reported TB cases, with India alone responsible for 16% of the discrepancy.<br /><h2>India’s unique position in the global TB fight</h2>As the nation with the largest share of global TB cases, India has a unique and critical responsibility in addressing the disease. The high TB burden in India is tied to several factors, including undernutrition, poverty, and limited access to healthcare in rural areas. Moreover, with 26% of all TB cases globally, India’s battle against TB will significantly impact the global fight. The government’s financial support for TB-affected households also aims to reduce the economic burden of treatment.<br /><br />However, challenges remain, especially with <keyword id="22004277" type="General" weightage="20" keywordseo="multidrug-resistant-TB" source="keywords">multidrug-resistant TB</keyword> (MDR/RR-TB). While treatment success rates for MDR/RR-TB have reached 68%, diagnosing and treating all drug-resistant cases is an ongoing challenge. In 2023, India’s coverage of preventive treatment for TB among people living with HIV and close contacts of TB patients also saw improvements, but underfunding continues to limit the full scope of TB elimination efforts.<br /><h2>Global funding gaps</h2>Global funding shortages for <keyword id="21039793" type="General" weightage="20" keywordseo="TB-prevention" source="keywords">TB prevention</keyword> and treatment are a significant hindrance to progress. Only $5.7 billion of the targeted $22 billion in funding was met in 2023, and for LMICs — where nearly all of the TB burden lies — the available funding falls well short of their needs. The United States remains the largest bilateral donor, and contributions from the Global Fund to Fight AIDS, Tuberculosis, and Malaria are crucial. However, these funds are not enough to meet essential TB service requirements, leaving healthcare systems under-resourced.<br />    <div type="Article" hostid="261" msid="114646545" title="Doctors struggle to treat long Covid patients in India; researchers point to inadequate studies" mstype="2" mssubtype="0"></div>Even in 2022, only one-fifth of the $5 billion target for research funding was achieved, as per the report. This underfunding hampers the development of improved diagnostics, drugs, and vaccines, which are crucial to TB prevention and treatment. <br /><br />Moreover, many of the drivers of TB are related to social factors, such as undernutrition, smoking, alcohol use, and diabetes, making it imperative to address these root causes. For instance, almost half of the TB-affected households globally face what the WHO calls "catastrophic costs" in seeking treatment. This burden is particularly severe in India, where low-income families often forgo treatment due to financial constraints.<br /><br />As WHO’s Director-General Dr Tedros Adhanom Ghebreyesus puts it, "The fact that TB still kills and sickens so many people is an outrage, when we have the tools to prevent it, detect it, and treat it.”<br /><br />The WHO’s Global tuberculosis report 2024 can be accessed <a href="https://www.who.int/teams/global-tuberculosis-programme/tb-reports/global-tuberculosis-report-2024">here</a>.<br />

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