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<ul><li>Market is not rushing to downgrade <keyword id="17277356" type="General" weightage="90" keywordseo="jio-fin" source="Orion">Jio Fin</keyword> rivals just yet, despite its deep pockets and ability to disrupt.</li><li><keyword id="2003276" type="General" weightage="70" keywordseo="jio" source="Orion">Jio</keyword> Fin’s aggression in the unsecured loan business will decide how badly rivals will be impacted in times to come.</li><li>Given that cost of funds for JFS is expected to be significantly lower than other NBFCs, it can price its offerings much better than rivals in consumer finance. </li></ul> A behemoth was born on Monday with the listing of the financial services business of <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> on the exchanges. With the listing of <keyword id="15323576" type="General" weightage="100" keywordseo="jio-financial-services" source="Orion">Jio Financial Services</keyword>, the obvious question is the impact that this entity will have on other listed financial services players because it will take them head on. The obvious assumption is that companies that currently are in the consumer and MSME lending space will be directly impacted. Jio Fin’s rich parentage and high capital base will be its biggest advantage. The net worth of the newborn is higher than its nearest competitor and this will enable it to build a large loan book much faster. But this may not be enough to win in the marketplace as it is a total novice when it comes to underwriting and execution. The market will closely monitor Jio Fin’s aggression in the consumer finance business before downgrading its competitors. For now, the jury is out. Like all other businesses that Reliance has set foot in, even in financial services the market is expecting two things – scale and mega disruption. The first segment that Jio is set to rock first is the lending space. Jio Financial Services ahead of its listing on 18 August released some details on the structure of the company and businesses it would operate in. Jio Financial Services is not just a systemically important non-banking financial institution but also a core investment company (CIC). The RBI has mandated the conversion of Jio Fin into a CIC and NBFC over the next three months. What this essentially means is that all the other businesses will operate under this holding company as subsidiaries. In time, all the subsidiaries could also be listed. The key businesses that Jio Financial Services will be present include: Reliance Retail Finance, Reliance Retail Insurance Broking, Reliance Payment Solutions, Jio Payments Bank, the Asset Management Company will be a joint venture with Blackrock. Reliance Industrial Investments and Holdings will be the sole beneficiary of the 6.1% stake in Reliance Industries. Jio Information Aggregator Services will pursue the account aggregator business, which is yet to commence. Jio Infrastructure Management Services will offer project management services. The first segment that Jio Fin seeks to aggressively pursue is retail lending. The dominant player in this segment is Bajaj Finance, which offers small ticket loans to consumers to buy consumer durables. This business has been mastered by Bajaj Finance over the last decade and a half by tying up with stores like Vijay Sales and Croma. This is where Jio will strike first. Reliance Retail has over 550 digital stores against 517 stores owned by its two rivals Croma (387 stores) and Vijay Sales (130 stores). In merchant lending, its focus is on financing options for merchants in grocery, digital, fashion and pharma formats. According to Nomura, the focus of its MSME lending business will be better geographic penetration. Jio Fin will seek to meet the borrowing needs of small businesses that often resort to high-interest informal channels for small-ticket loans. The company will enter into secured loans in the medium term. Over a period of time Jio Fin will offer unsecured loans too. Sources in the banking industry believe that the new entrant will disrupt the sector with differentiated and cheaper offerings as it can afford to do it because of its strong capital base. The cost of funds of JFS are expected to be significantly lower than other NBFCs. According to Morgan Stanley, “The consolidated entity is starting with a capital base of Rs 114.1 bn as of March 2023 (Rs 193.5 bn ex-book value of RIL stake). If it were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes.” While the markets believe that Jio will put technology and analytics at the heart of the business, building data will take time. Also, given the competition in the sector, borrowing by consumers is high and that is also leading to higher delinquencies. Therefore, the franchise that Jio builds will matter more than the scale of the loan book. The other issue that analysts see is the capital base of the new entity. Jio Fin as a consolidated entity has a capital base of Rs 114,100 crore or Rs 1.14 trillion as of March 2023 (Rs19,350 crore ex-book value of RIL stake). According to Nomura, if Jio Fin were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. “While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes,” the report adds.

Will Jio Fin follow the retail, telecom model and disrupt the financial services sector?

An Indo-German team of researchers has discovered a new species of catfish in <keyword id="28504" type="General" weightage="100" keywordseo="kerala" source="Orion">Kerala</keyword> measuring no more than 32 millimeters, with no eyes and a blood-red body. The researchers studied the genus <keyword id="7614752" type="General" weightage="80" keywordseo="horaglanis" source="Orion">Horaglanis</keyword> of catfish -- a diverse group of ray-finned fish. The tiny members of this genus, only about three centimetres in length, live in local aquifers without light. As part of a broad-based Citizen Science project, the study published in the journal Vertebrate Zoology was able to gather information on the distribution of the animals, their genetics, and evolutionary history. "Currently, 289 fish species are known from subterranean aquatic habitats worldwide -- less than 10 per cent of them live in aquifers," said <keyword id="5800719" type="General" weightage="50" keywordseo="ralf-britz" source="Orion">Ralf Britz</keyword> of the Senckenberg Natural History Collections. "In order to obtain information from this almost unknown biotope, we conducted a six-year study of water-bearing laterite rock layers and their fascinating fish fauna in the southern Indian state of Kerala," <keyword id="4220271" type="General" weightage="80" keywordseo="britz" source="Orion">Britz</keyword> said. Horaglanis fishes live exclusively in aquifers, are very small, blind, and they lack pigments. "There are very few documented occurrences of these species -- as a rule, these elusive little fish only come to the surface when a domestic well is being dug or cleaned," Britz explained. The biologist and his Indian colleagues, led by <keyword id="2481025" type="General" weightage="50" keywordseo="rajeev-raghavan" source="Orion">Rajeev Raghavan</keyword> from the University of Kochi, Kerala and Neelesh Dahanukar from Shiv Nadar Institution of Eminence, Delhi-NCR, relied on the cooperation of local citizen scientists. Over a six-year period, they conducted a series of workshops, focus group discussions, and informal conversations with communities at several sites, including the type localities of the three Horaglanis species known to date. The researchers complemented this citizen science approach with targeted collection efforts in wells and above-ground storage tanks, with scoop nets in shallow wetlands, water channels, home gardens, and plantations, and with the use of baited traps in excavated wells on farmsteads, in ponds, and caves. "This allowed us to generate data sets with a total of 47 new site detections and 65 new genetic sequences. These show, among other things, that Horaglanis are endemic to the part of Kerala state south of the Palghat Gap -- the mountain pass apparently represents a biogeographical barrier for the subterranean world as well," Britz explained. "The genus is characterised by a high level of genetic diversity that has evolved over millions of years -- although the fishes' appearance has changed remarkably little," he added. In addition, the team succeeded in identifying a new species: Horaglanis populi is a catfish measuring no more than 32 millimetres, with no eyes and a blood-red body, and is genetically distinct from the three previously known Horaglanis species. "The specific name populi, the genitive of the Latin noun for 'people,' honours the invaluable contributions of the interested public in Kerala who helped document the biodiversity of these subterranean fishes -- including the discovery of the new species," says Britz. "Our Horaglanis project is an excellent example of how public involvement can greatly increase our knowledge of rarely collected organisms that live in relatively inaccessible habitats. Local people expand the researchers' 'eyes and ears' by several orders of magnitude," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-subscribers-as-vodafone-idea-continues-to-bleed-subscribers/articleshow/98006341.cms">Reliance Jio and Airtel add subscribers as Vodafone Idea continues to bleed subscribers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/twitter-closes-offices-in-delhi-mumbai-staff-asked-to-work-from-home/articleshow/98006141.cms">Twitter closes offices in Delhi, Mumbai; staff asked to work from home</a>

Indo-German team discovers new catfish species in Kerala with no eyes, blood-red body

<ul><li><keyword id="10591" type="General" weightage="100" keywordseo="samsung" source="Orion">Samsung</keyword> and <keyword id="10875" type="General" weightage="80" keywordseo="ibm" source="Orion">IBM</keyword>’s new chipset design could potentially double either the performance or battery life of smartphones, crypto mining rigs among other things.</li><li>This new design is called <keyword id="12740717" type="General" weightage="20" keywordseo="vtfet" source="Orion">VTFET</keyword> and could succeed the current-gen FinFET design used in most modern chipsets.</li><li>Earlier this year, MIT, <keyword id="1187141" type="General" weightage="20" keywordseo="ntu" source="Orion">NTU</keyword> and TSMC developed a new chipset manufacturing process that could result in chipsets up to 1,00,000 times thinner than a strand of human hair.</li></ul>Tech giants Samsung and IBM have teamed up for a new chipset design that could potentially result in a one-week battery life on smartphones. The new chipset design seems ingenious, too – instead of laying flat on the chipset, the transistors are now stacked vertically. Samsung and IBM have named this design <keyword id="12740718" type="General" weightage="20" keywordseo="vertical-transport-field-effect-transistors" source="Orion">Vertical Transport Field Effect Transistors</keyword> (VTFET), which will succeed the FinFET (Fin Field Effect Transistor) design that is used by most of the modern smartphone chipsets. Stacking up the transistors vertically would allow Samsung and IBM to pack the chipset more densely, which alone would result in a performance and efficiency bump. The current would now pass up and down instead of horizontally, as is the case in current chipsets. Samsung and IBM claim that this new design would allow Samsung to offer up to a two-time jump in performance, or power savings of up to 85% when compared to the current chipsets. <cmsannotation type="cmsannotation" annotationid="More semiconductor breakthroughs in the works" comment="subhead" text="More semiconductor breakthroughs in the works">More semiconductor breakthroughs in the works</cmsannotation> If the Samsung-IBM collaboration seems like a breakthrough in chipset design and performance, there’s more in store – earlier this year, the Massachusetts Institute of Technology (MIT), National Taiwan University (NTU) and Taiwan Semiconductor Manufacturing Company (TSMC) teamed up to develop a <a href="https://interestingengineering.com/semiconductor-breakthrough-widened-gap-tiny-chips">new process</a> that would allow them to manufacture chipsets thinner than 1-nanometre. For context, a human hair is <a href="https://www.nano.gov/nanotech-101/what/nano-size">approximately</a> 80,000-1,00,000 nanometres wide. Even at one nanometre thickness, 80,000-1,00,000 chipsets would have to be stacked above each other to be as thick as a single strand of human hair. To be sure, it might still be a while before we see this new chipset design in consumer electronics – most importantly, smartphones – but it could be a game changer for other use cases as well. For instance, the companies claim that this could result in less power-hungry crypto mining operations, internet-of-things (IoT) devices that last much longer between charges and more. Basically, anything that uses this chipset design could last almost double the time between two charges. <div type="Youtube" id="OF3Zwfu6Ngc" title="IBM and Samsung Unveil Semiconductor Breakthrough That Defies Conventional Design" thumbUrl="https://i.ytimg.com/vi/OF3Zwfu6Ngc/mqdefault.jpg"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-1rs-data-plan-recharge-benefits-cheapest-4g-data-plan/articleshow/88292543.cms">At ₹1, Reliance Jio’s latest data pack is the cheapest in the world – costs less than a packet of water</a> <a href="https://www.businessinsider.in/tech/apps/news/snapchat-launches-short-video-editing-app-story-studio/articleshow/88290788.cms">Snapchat is getting serious about short videos with its new standalone editing app ‘Story Studio’</a> <a href="https://www.businessinsider.in/tech/news/indian-government-issues-urgent-warning-for-google-chrome-users-install-the-latest-update-now/articleshow/88290651.cms">Indian government issues 'urgent' warning for Google Chrome users, install the latest update now</a>

Samsung and IBM’s new chipset design could mean you need to charge your phone just once a week

Increased demand for leadership roles from government think tanks, public and the private sector and presence of marquee brands were some of the notable highlights at the <keyword id="6357275" type="ORGANIZATION" weightage="20" keywordseo="Indian-School-of-Business">Indian School of Business</keyword> recent placements as students received an average package of Rs 22 lakh. The School witnessed a 39% increase in the number of recruiters participating in the current placements season. Over 400 companies-domestic and international made 1,113 offers to students of the PGP Class of 2017. In addition to its students, ISB alumni too continue to do well beyond graduation – for example, ISB has been ranked number one amongst the top 30 global B Schools, for a 160 % increase in salary of its alumni, three years after completion of the programme, as per the Financial Times Global MBA rankings 2017. New campus recruits Besides the regular recruiters such as McKinsey &amp; Co, BCG, Parthenon, AT Kearney, <keyword id="6354427" type="CITY" weightage="20" keywordseo="Apple">Apple</keyword>, <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword>, Citibank, Novartis, Siemens, Amazon , <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword>, Hindustan Unilever ltd, who were on campus, there were several new companies such as Jones Lang LaSalle, Havells, Revigo, P&amp;G, Lending kart, Reliance Jio, Mindtree Consulting, L’ Oreal, Bain &amp; Co and Roland Berger. Public companies showed keen interest Reinforcing its trust in the leadership skills of ISB graduates, the government of Andhra Pradesh recruited at ISB for the second consecutive year with a total of 21 offers. ISB students were the preferred choice for several public advocacy and strategy roles. For the first time, they were chosen for roles of Executive Assistants to District Magistrates at select districts in the state. Other roles offered were in the areas of Fin-Tech, Textiles, Tourism, and Infrastructure among others. More leadership roles offered There was also a visible increase in leadership roles this year. 70+ offers were made to ISB students for leadership roles by leading corporates including Aditya Birla Group, Citibank, Yes Bank, Philips India Ltd, Tech Mahindra, MAX, Mytrah Energy and Genpact. ISB's women picked as leaders Echoing the ISB’s mission and efforts towards increasing gender diversity at the leadership level, Axis Bank continued to hire women students of ISB for their exclusive Leadership Programme for the third year, with roles across Treasury, Corporate Finance, Retail and Consumer Banking. Making its first appearance on campus Ashok Leyland, the PSU manufacturing giant also recruited ISB’s women students for leadership positions across Product, General Management and Strategy. Overseas recruitments ISB graduates continue to be the preferred choice of several international companies as they come with prior transnational work experience. These companies too offered senior management positions across locations such as Germany, Switzerland, Ireland, Abu Dhabi, Tokyo, Japan and Singapore. Among the international companies, Cargill, Apple, Coty Inc, Landmark Group, Baycurrent and Credit Access Asia were some among those who recruited for the first time at ISB. Consulting and IT/ITES sectors continued to be the largest recruiting sectors constituting 20% and 21% of total number of offers followed by BFSI and Healthcare &amp; Pharma. With a class size of 903, the Post Graduate Programme in Management (PGP) at ISB is one of the largest group of top-notch experienced talent in the region. The student body at ISB is a diverse mix of professionals across age groups, location, vertical and function, which allows recruiters from various sectors the opportunity to hire for multiple positions. The School follows an integrated system of ‘Rolling Placements Process’ which is a campus neutral, lateral hiring process spread over several months allowing students and recruiters to interact with each other and find their desired fit.

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Will Jio Fin follow the retail, telecom model and disrupt the financial services sector?

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Indo-German team discovers new catfish species in Kerala with no eyes, blood-red body

PTI

Samsung and IBM’s new chipset design could mean you need to charge your phone just once a week

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1,100 students grab Rs 22 lakh job offers - Five key takeaways from ISB 2017 Placements

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