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Global payments company <keyword id="20063180" type="General" weightage="20" keywordseo="American-Express" source="keywords" meta.keywordsubtype="org" meta.entityname="American Express" meta.hostid="153" meta.entityid="American Express">American Express</keyword> on Wednesday announced it will open its nearly one-million square feet campus in Gurugram, Haryana. The company has additional facilities in Gurugram as well as in Delhi, Mumbai, Bengaluru, Chennai, and Pune. Its employees will begin moving to the new facility, located in sector 74A Gurugram, in phases, starting from the end of this month, the company said in a statement. The campus reflects American Express' dedication to fostering a dynamic work environment, it said. "American Express in India continues to develop in-country capabilities by leveraging our global expertise and local talent, fostering new opportunities and innovation for customers worldwide," said Sanjay Khanna, CEO and Country Manager, American Express, India. The new office building provides a modern, energy efficient workspace, Khanna added. "Our new India campus is the largest office we've built from the ground up globally, and the facility is a fitting reflection of the American Express brand and the kind of workplace where our colleagues can thrive," said <keyword id="19987986" type="General" weightage="20" keywordseo="gagandeep-singh" source="keywords">Gagandeep Singh</keyword>, Senior Vice President, Global Real Estate and Workplace Experience, American Express. American Express in India provides support for every division of the company, in addition to delivering innovative products and services to customers in India. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank">Mahindra XUV 3XO compact SUV launched in India starting at ₹7.49 lakh</a>

American Express to open one-million sq feet campus in Gurugram

The <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> party has levied fresh allegations against <keyword id="20914154" type="General" weightage="100" keywordseo="SEBI-Chairperson" source="keywords">SEBI Chairperson</keyword> <keyword id="19922107" type="General" weightage="20" keywordseo="Madhabi-Puri-Buch" source="keywords">Madhabi Puri Buch</keyword>, calling her a perfect case of the office for profit. This refers to a position that brings some financial gain, or advantage to the office holder, which in this case was Buch's position as a whole-time member of <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, and then post 2022, as the regulatory body's chairperson. In a press conference in New Delhi on Monday, Pawan Khera, Chairman, Media and Publicity Department, Congress, charged Buch of receiving regular income from private lender <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and <keyword id="47860" type="General" weightage="20" keywordseo="ICICI-Prudential" source="Orion">ICICI Prudential</keyword>, India's second largest asset management company, all while being the whole-time member and later Chairperson of the capital markets regulatory body. "She (SEBI Chairperson Madhabi Puri Buch) between 2017 and 2024 was taking regular income of Rs 16 crore 80 lakhs from ICICI Bank," alleged Pawan Khera, at the press briefing. The congress spokesperson also alleged that Buch received a total of Rs 16.80 crore between 2017-18 to 2023-24, from ICICI Bank, ICICI Prudential, <keyword id="20043663" type="General" weightage="20" keywordseo="ESOPs" source="keywords">ESOPs</keyword>, and <keyword id="19948097" type="General" weightage="20" keywordseo="TDS" source="keywords">TDS</keyword> on ESOPs. According to the Congress' allegations, in 2017-18 the SEBI chief allegedly received Rs 2.06 crore from ICICI Bank as salary and Rs 7 lakh from ICICI Prudential. In 2018-19, she received Rs 4.71 crore from ICICI Bank, Rs 2.17 lakh from ICICI Prudential. In 2019-20, Rs 1.21 crore from ICICI Bank and Rs 2.17 lakh from ICICI Prudential. In 2020-21, she was alleged of having received Rs 4.64 crore from ICICI Bank and Rs 2.17 lakh ICICI Prudential. In 2021-22, Congress asserted that the salary stopped from ICICI Bank but she continued to receive Rs 2.17 lakh from ICICI Prudential, also same year she received ESOP and TDS on ESOP from ICICI Bank. In 2022-23, she was alleged to have received Rs 4.44 lakh from ICICI Prudential, in addition to ESOP and TDS on ESOP, In 2023-24, she was alleged to have received Rs 2.17 from ICICI Prudential. The Congress further alleges that during this period, Buch also drew a salary from SEBI as a whole-time member and later as the Chairperson. Khera further added that several probes on ICICI Bank were being adjudicated during this period when Madhabi Puri Buch was receiving income from the group. He also cited unnamed reports to claim that the SEBI chief has relaxed norms for the ICICI Bank. "The person sitting at the top of the regulator is taking salaries from another entity," Khera alleged, adding it was a perfect case of "office for profit". "So we want to know why you were taking your salary from ICICI despite being a full-time member of SEBI?," Khera asked what service she as the SEBI Chairperson provided the bank when she was part of SEBI. "This is a direct violation of Section 54 of SEBI. Therefore, if Madhabi Puri Buch has any shame, she should resign from her post," Khera added. The SEBI Chief is yet to react to the charges made by the Congress in Monday's news conference. Madhabi Puri Buch was a whole-time member of SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri Buch became the Chairperson of SEBI. Recently, US-based short seller Hindenburg Research made allegations against her accusing her of conflict of interest. Last month, Hindenburg Research alleged that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in "both the obscure offshore entities used in the Admoney siphoning scandal." Hindenburg Research said it has made the new allegations based on documents provided by a whistleblower and investigations carried out by other entities. Soon after, the SEBI Chairperson and her husband, in their personal capacity, issued a detailed statement rejecting the allegations. In the joint statement released to the media they said, "In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course." "It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same," the statement from Madhabi Buch and her husband Dhaval Buch read.

Congress alleges SEBI Chairperson Madhabi Puri Buch of office for profit

Billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>'s group will supply <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> to power Google's cloud services and operations in India, the two firms said on Thursday. <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> will supply 61.4 megawatt of electricity from a new <keyword id="21342349" type="General" weightage="20" keywordseo="solar-wind-hybrid-project" source="keywords">solar-wind hybrid project</keyword> located at its 30 gigawatt (GW) Khavda renewable energy park in Gujarat. Google powers most of its cloud operations and services through electricity procured from the grid and is planning to run the entire operations on clean energy by 2030. Adani is expected to start commercial operations in the third quarter of 2025. At the '<keyword id="23413952" type="General" weightage="20" keywordseo="Google-for-India" source="keywords">Google for India</keyword>' event, the search giant also announced a partnership with CleanMax for sourcing 125.4 MW of clean energy to power its offices and cloud regions in India. Of the contracted volumes, 66 MW solar energy will come from Rajasthan and 59.4 MW wind energy from Karantaka. "These projects are expected to start commercial operations in Q4 2025 and will deliver <keyword id="22243112" type="General" weightage="20" keywordseo="carbon-free-energy" source="keywords">carbon-free energy</keyword> to the grid where Google operates offices and cloud regions in India," Google said. While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. "Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said. This innovative collaboration will help advance Google's 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> of Google in India. Adani had previously announced plans to set up data centres run on clean energy. It had in October 2022 leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google.

Adani to supply clean energy for Google's cloud operations in India

In a leadership rejig, <keyword id="742386" type="General" weightage="20" keywordseo="food-beverage" source="Orion">food &amp; beverage</keyword> major <keyword id="19953787" type="General" weightage="20" keywordseo="pepsico" source="keywords">Pepsico</keyword> on Friday said <keyword id="4632597" type="General" weightage="20" keywordseo="Jagrut-Kotecha" source="Orion">Jagrut Kotecha</keyword> will lead the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business as the CEO, while the incumbent <keyword id="20251990" type="General" weightage="20" keywordseo="ahmed-el-sheikh" source="keywords">Ahmed El Sheikh</keyword> will assume the charge of the Middle East business unit. Kotecha, who is the Chief Commercial Officer for PepsiCo in Africa, Middle East, and South Asia (AMESA) will assume the role of CEO for PepsiCo India in Sheikh's place, the company said in a statement. Ahmed El Sheikh, who led the PepsiCo India business for almost seven years, will move on from his current role and assume new responsibilities as of March 2024, it said. "This leadership change, reflecting PepsiCo's dynamic and forward-thinking global approach, has been meticulously planned and was communicated to the India office employees yesterday (Thursday) as part of a series of leadership changes across AMESA," it said. PepsiCo <keyword id="115930" type="General" weightage="20" keywordseo="chief-executive-officer" source="Orion">Chief Executive Officer</keyword> -- Africa, Middle East &amp; South Asia -- Eugene Willemsen said India remains a pivotal market for the company, playing a crucial role in our global strategy. "Over the last six years, Ahmed has been instrumental in transforming our business, driving innovation, and steering the team through challenging landscapes. His leadership saw the introduction of pioneering products and various community-focused initiatives, and I look forward to continuing to work with him in his new capacity," he said. Welcoming Kotecha, he said, "We will continue to scale new zeniths of success under his leadership with our Indian consumers." PepsiCo, which owns brands such as Pepsi, Lay's, Kurkure, Tropicana 100%, Gatorade, and Quaker, entered the Indian market in 1989 and has grown to become one of the largest food and beverage businesses here. Pepsico India Holdings revenue from the sale of products and services on a consolidated basis was up 28.47 per cent to Rs 8,127.07 crore, for the financial year that ended on March 31, 2023.

Jagrut Kotecha to lead PepsiCo in India, Ahmed El Sheikh moved to Middle East Business

New Delhi: Prime Minister Narendra Modi will inaugurate the 8th edition of the International Telecommunication Union - World Telecommunication Standardization Assembly (<keyword id="23549707" type="General" weightage="20" keywordseo="ITU-WTSA" source="keywords">ITU-WTSA</keyword>) at <keyword id="19950568" type="General" weightage="20" keywordseo="Bharat-Mandapam" source="keywords">Bharat Mandapam</keyword> here in the national capital today. This is the first time the ITU-WTSA will be hosted in India and the Asia-Pacific. Prime Minister will also inaugurate the 8th edition of the <keyword id="21058244" type="General" weightage="100" keywordseo="India-Mobile-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="India Mobile Congress" meta.hostid="261" meta.entityid="India Mobile Congress">India Mobile Congress</keyword> (IMC), with the theme, "The future is now." Prime Minister Modi took to X to announce both events, saying, "At 10 AM tomorrow, 15th October, the International Telecommunication Union - World Telecommunication Standardisation Assembly and the India Mobile Congress 2024 will be inaugurated. These forums are important ones, bringing together leading stakeholders from across the sector." Aa per a statement by the Prime Minister's Office (PMO), the event will be facilitating interactions with various industry leaders, policy-makers and tech experts from over one ninety countries. It is a pivotal global event that will bring together more than 3,000 industry leaders, policy-makers and tech experts from over 190 countries, representing telecom, digital, and ICT sectors. The ITU-WTSA event will also facilitate discussion on the standards set for new age technologies such as 6G, AI, IoT, Big Data, cybersecurity, etc. "Hosting this event in India will provide the country an opportunity to play a key role in shaping the global telecom agenda and to set the course for future technologies. Indian startups and research institutions are set to gain critical insights into developing Intellectual Property Rights and Standard Essential Patents," the PMO said. India Mobile Congress 2024 will be showcasing the telecom ecosystem, with leading telecom companies highlighting advancements in Quantum technology and Circular Economy along with spotlight on 6G, 5G use-case showcase, cloud &amp; edge computing, IoT, semiconductors, cybersecurity, green tech, satcom and electronics manufacturing. India Mobile Congress is Asia's largest <keyword id="21099140" type="General" weightage="20" keywordseo="digital-technology" source="keywords">digital technology</keyword> forum, and has become a well-known platform across the globe for showcasing innovative solutions, services and state-of-the-art use cases for industry, government, academics, start-ups and other key stakeholders in the technology and telecom ecosystem. The IMC will feature over 400 exhibitors, 900 startups, with participation from over 120 countries. The event also aims to showcase more than 900 technology use case scenarios, host more than 100 sessions and discussion with over 600 global and Indian speakers.

PM Modi to inaugurate 8th ITU's telecom standard meet, India Mobile Congress in Delhi today

New Delhi: <keyword id="19909974" type="General" weightage="100" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> is looking to sell around 6 lakh CNG vehicles in the current fiscal, an increase of around 25 per cent as compared to FY24, according to a senior company executive. The country's largest carmaker company on Wednesday expanded its CNG model range as it rolled out its premium hatchback Swift with S-CNG trims. "This fiscal we are targeting to sell around 6 lakh CNG units. We ended last year with sales of around 4.77 lakh units," <keyword id="20035105" type="General" weightage="20" keywordseo="maruti-suzuki-india-senior" source="keywords">Maruti Suzuki India Senior</keyword> Executive Officer (Marketing and Sales) <keyword id="21102180" type="General" weightage="20" keywordseo="partho-banerjee" source="keywords">Partho Banerjee</keyword> told PTI in an interaction. In the April-August period this fiscal, the auto major has so far sold 2.21 lakh units, he added. The new Swift comes in three variants priced at Rs 8.19 lakh; Rs 8.46 lakh and Rs 9.19 lakh respectively. <keyword id="20068420" type="General" weightage="20" keywordseo="banerjee" source="keywords">Banerjee</keyword> said the S-CNG trims deliver a fuel-efficiency of 32.85 km/kg. "The company pioneered the production of CNG vehicles in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> back in 2010. Since then, we have sold over 2 million S-CNG vehicles to date, contributing to a significant reduction of 2 million tonnes of CO2 emissions," he added. The company now offers 14 models with CNG technology, <keyword id="20068420" type="General" weightage="20" keywordseo="banerjee" source="keywords">Banerjee</keyword> said. "Last fiscal year, our CNG sales in the passenger vehicle category witnessed a 46.8 per cent growth, compared to 2022-23 and registered a compound annual growth rate of around 28 per cent since 2010," he noted.

Maruti Suzuki targets to sell 6 lakh CNG units this fiscal: Official

<ul><li>In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, 58% of CEOs compared to 57% CEOs globally agree that ethical challenges are a significant obstacle to adopting generative AI within their organisations, while 56% CEOs in India compared to 55% CEOs globally cite implementation cost as a major barrier.</li><li>Over 89% CEOs in India compared to 87% CEOs globally are likely to reward employees who try to come to office with raises, promotions, and favourable assignments.</li><li>Geopolitical risk was not even a top concern last year and is now the biggest issue for CEOs across the globe. </li></ul>Heavy is the head, they say, that wears the crown. Leadership is the flipside of challenges. One would have thought that the challenges that pandemic brought would make any challenge look like a cake walk. But the era of challenges is not over for corporate captains. According to <keyword id="50041" type="General" weightage="50" keywordseo="kpmg" source="Orion">KPMG</keyword>’s CEO survey, broader political uncertainty and geopolitical tensions are now the greatest risk to business growth. Other thorns in their flesh also include bringing employees back to office and deploying AI across their organisations. KPMG’s survey is based on inputs given by 1,300 CEOs of the world’s largest businesses, of which 125 CEOs were from India. It is not just geopolitics or political instability that gives sleepless nights to industry leaders. From disruptive technologies to bringing employees back to work, CEOs have their task cut out as we leave the pandemic era behind us. Emerging/disruptive technology is a primary risk and one of the greatest threats to organisational growth for CEOs in India as well as globally. CEOs in India and globally are prioritising investments in generative AI as a key competitive advantage for the future, with 66% of CEOs in India compared to and 70% of CEOs globally considering it as a top investment priority for their organisation. For those employees hoping that work from home is here to stay, please beware that company bosses want people to come back. Over 89% CEOs in India compared to 87% CEOs globally are likely to reward employees who try to come to office with raises, promotions, and favourable assignments. Apart from talent and geopolitical risks, CEOs also worry about new disruptive technologies like GenAI. In India, 58% of CEOs compared to 57% CEOs globally agree that ethical challenges are a significant obstacle to adopting generative AI within their organisations, while 56% CEOs in India compared to 55% CEOs globally cite implementation cost as a major barrier. The KPMG 2023 <keyword id="3630354" type="General" weightage="20" keywordseo="india-ceo-outlook" source="Orion">India CEO Outlook</keyword> shows geopolitics and political uncertainty have become the leading perceived risk this year for senior executives – concerns that didn’t even make the top three of the five risks in 2022. That said, the confidence of CEOs in India in terms of growth prospects for the global economy over the next three years has considerably increased to 69% in 2023 from 57% in 2022, demonstrating optimism and a strong resilience towards a long-term growth trajectory. The level of confidence of CEOs in India in their own company’s growth prospects too has remained mostly unchanged from the past year (71% in 2023 compared to 72% in 2022), contrary to the declining confidence of CEOs globally (77% in 2023 compared to 85% in 2022), indicating their resilience in weathering the storms of uncertainty. Even though CEOs in India see a slight decline in growth prospects for the country in 2023 from 2022 levels, they exhibit enough resilience to recover in the short-term. However, the volatile nature of geopolitics and trade patterns, combined with rising interest rates and monetary tightening could act as a headwind for companies. Interestingly, only a small fraction of CEOs in India compared to their global counterparts share this viewpoint, which reflects positively on India. “CEOs in India are facing challenges and obstacles to growth on multiple fronts – from geopolitical uncertainty and politicisation to increased stakeholder expectations in the ESG space and the adoption of generative AI. Even though leaders in India are having to deal with macroeconomic and geopolitical challenges right now, they are positive on the growth prospects of the global economy as well as their organisation, which is very reassuring. There’s general optimism that we can, in time, gradually return to long-term sustainable growth,” said <keyword id="272444" type="General" weightage="50" keywordseo="yezdi-nagporewalla" source="Orion">Yezdi Nagporewalla</keyword>, Chief Executive Officer, KPMG in India. “Today, the opportunity to move towards a fair, equitable and successful planet is huge and leaders should look to make the most of it.The key to success would hinge on steadfast focus on seeing the bigger picture, strategic planning, and determination to tackle the challenges in the short-term with agility,” added <keyword id="12419296" type="General" weightage="50" keywordseo="nagporewalla" source="Orion">Nagporewalla</keyword>.

Nine in ten Indian CEOs likely to reward back-to-office employees with raises, promotions & more

<ul class="summary-list"><li>Tata Consultancy Services, India's largest IT firm, saw more female employees quit the past year.</li><li>The company said it felt this change was influenced by its decision to scrap remote work. </li></ul>India's largest IT firm faced an unexpected consequence after scrapping its remote working policies: seeing a higher level of female employees quit. Tata Consultancy Services, a multinational technology and consultancy firm with headquarters in Mumbai, ordered employees to return to the <a href="https://economictimes.indiatimes.com/tech/information-tech/tcs-asks-employees-to-return-to-office-at-least-thrice-a-week/articleshow/94382029.cms" target="_blank" rel="noopener">office at least three days a week</a> last year and has said it will no longer encourage remote work — a policy that was initially necessitated by the COVID-19 pandemic. The firm's <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis//3837c1b7-9308-436d-9636-1d6856edf74e.pdf" target="_blank" rel="noopener">annual report</a> noted that this policy has backfired on its retention rates, resulting in a high number of female employees leaving the firm."Historically, women's attrition at TCS has been similar or lower than men's attrition, so this is unusual," TCS's chief human resources officer Milind Lakkad said in the report.He continued: "There might be other reasons but intuitively, I would think working from home during the pandemic reset the domestic arrangements for some women, keeping them from returning to office even after everything normalized." Lakkad said that the higher attrition among women was a "setback" in its efforts to promote gender diversity. There are over 220,000 women at the firm, making up about 35.7% of the company's workforce according to the report. Lakkad further clarified in the report that the company reversed its remote working policies because junior employees and new hires suffered from not being integrated into the work culture in person. He said: "Over half our workforce today was hired after March 2020. New employees get acculturated through physical interactions with senior colleagues and leaders, by observing and following their behaviors and ways of thinking."Without those interactions, employee engagement, as well as acculturation, got badly impacted. All these factors led us to gradually bring back people to our offices during the year." The company did not immediately respond to Insider's request for comment. A <a href="https://today.yougov.com/topics/economy/articles-reports/2022/11/21/working-home-working-for-working-women-poll" target="_blank" rel="noopener">YouGov poll</a> last year found that 57% of working women in the US said that remote working is important in a job, versus 44% of men.This could be because some women, especially those with children, find it easier to balance their work and personal lives when working from home.

More women quit their jobs at India’s largest IT firm after it scrapped remote work

India's <keyword id="22879519" type="General" weightage="20" keywordseo="organised-gold-loan-market" source="keywords">organised gold loan market</keyword> is projected to double in the next five years to Rs 14.19 lakh crore despite expected moderation in growth due to stricter regulations, according to a <keyword id="19938520" type="General" weightage="20" keywordseo="PwC-India" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC India" meta.hostid="153" meta.entityid="PwC India">PwC India</keyword> report. In fiscal 2023-24, the organised <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> demonstrated substantial growth, reaching a valuation of Rs 7.1 lakh crore, according to the report titled 'Striking gold: The rise of India's gold loan market' . "It is expected to reach around Rs 14.19 lakh crore by FY 2029 at a five-year CAGR of 14.85 %," it said. Indian families own massive quantities of gold, estimated at 25,000 tonne. Existing gold holdings with <keyword id="19895507" type="General" weightage="20" keywordseo="Indian-households" source="keywords">Indian households</keyword> are valued at roughly Rs 126 lakh crore, the report said. It further said the gold loan market is poised to see moderate growth over the next two years, as gold lenders are facing increased scrutiny from regulatory authorities regarding loan-to-value (LTV) maintenance and auction-related procedures. "The second-largest player in the gold loan market being inactive would have an impact on market growth in FY25," the report said. Also, the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>'s advisory to <keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword> on cash disbursement, which limits the amount of cash disbursal to Rs 20,000, could push customers to rely on the unorganised sector. The regulator has also raised concerns about the evaluation process for lending activities through fintech startups. The increased regulatory scrutiny and revised guidelines have led to a dip in the share prices of leading NBFCs, PwC said. "Gold loan lenders are expected to use this period to ensure that they are compliant with all regulatory guidelines while undertaking several measures to optimise their middle and back offices through digitisation initiatives," it said. Lenders are also expected to implement cost optimisation initiatives that will help drive up the bottom-line profitability of their companies and enhance investor confidence which has slightly depleted as a result of the regulatory scrutiny. Furthermore, the report said rising gold prices over the past financial year may also drive lenders to take a cautious approach to lending rates and pricing as any downward movement in gold prices will result in a substantial LTV breach that will further create operational issues for lenders in the form of auctions. "The growth of the gold loan market is expected to be steered by both banks and NBFCs," the report said. The emergence of digital gold loan aggregator platforms and their strategic collaboration with gold loan lenders such as banks and NBFCs will be a key driving factor for the growth of the industry, enabling gold loan lenders to tap into a previously untapped segment of digitally savvy customers. "While the forecasted growth of the gold loan market means potential growth for all players, the impact on the players may vary. Banks are expected to benefit from their lower interest rates," PwC said. Jaikrishnan G, Partner (Financial Services), PwC India said lending against gold is the oldest form of credit. It remains one of the most attractive options for consumer as well as lenders. "High return-on-assets, manageable risk, timely regulatory interventions, growing adoption, tech-enabled operating models have all contributed to sector growth. As India embraces the vision of Viksit Bharat, gold loans will provide much needed liquidity and credit access to growing small and medium entrepreneur segments," he said. The report further said growth by NBFCs is expected to be fuelled by their expansion and increased outreach to regions with low penetration, bringing new credit customers to the financial services ecosystem. Also, fintechs will play a critical role in bringing in the required technology and innovation into the industry, thus helping lenders to create unique product propositions to boost growth, it said. <keyword id="20037818" type="General" weightage="20" keywordseo="South-India" source="keywords">South India</keyword> contributes to a vast extent, as it emerges as the dominant market for gold loans, with 79.1% share of the total outstanding loans. The report also noted that an assumption can be made that the entire Rs 126 lakh crore worth of gold will not be available for pledging due to various reasons like jewelry belonging to religious institutions, jewellery with emotional value, and certain jewellery held by individuals who are not in need of finance.

Gold loan market projected to double in 5 years to Rs 14.19 lakh crore, says PwC India's report

The <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword> ranks among the world's largest producers. Although Hindi films traditionally hold sway over audiences, Southern language films have made notable inroads into the Hindi-speaking regions, garnering significant appreciation. In recent years, South Indian cinema has gained widespread recognition, captivating audiences nationwide with its dynamic narratives and action-packed plots. However, these films have enjoyed cult status across India for quite some time. Consequently, a surge of South Indian actors has made their mark in the list of the top 10 highest-paid Indian actors. Forbes has compiled data from IMDB to unveil the top 10 <keyword id="22030970" type="General" weightage="100" keywordseo="highest-paid-actors-in-India" source="Orion">highest-paid actors in India</keyword>, making for an intriguing list. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Actor Name </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Approximate Fee Charged Per Movie </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">1. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Shah Rukh Khan </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs150 crores-250 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">2. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rajinikanth </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs150 crores-210 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">3. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Joseph Vijay </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs130 crores-200 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">4. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Prabhas </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs100 crores-200 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">5. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Aamir Khan </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs100 crores-175 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">6. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Salman Khan </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs100 crores-150 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">7. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Kamal Haasan </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs100 crores-150 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">8. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Allu Arjun </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs100 crores-125 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">9. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Akshay Kumar </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs60 crores-145 crores </td></tr><tr><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">10. </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Ajith Kumar </td><td style="border-left:solid #000000 0.62499975pt;border-right:solid #000000 0.62499975pt;border-bottom:solid #000000 0.62499975pt;border-top:solid #000000 0.62499975pt;vertical-align:middle;padding:6pt 6pt 6pt 6pt;overflow:hidden;overflow-wrap:break-word;">Rs105 crores </td></tr></tbody><tbody></tbody></table><cmsannotation type="cmsannotation" annotationid="1. Shahrukh Khan" comment="subhead" text="1. Shahrukh Khan">1. Shahrukh Khan</cmsannotation> With an approximate net worth of Rs. 6300 crores, Shah Rukh Khan, often referred to as King Khan, has experienced his fair share of setbacks in his career. However, that hasn't hindered him from delivering two consecutive blockbusters in 2023, "Jawan" and "Pathaan," both surpassing Rs. 2000 crores worldwide. His latest release, "Dunki," continues to rake in significant earnings, showcasing his enduring star power. Shah Rukh Khan has painstakingly built his career, consistently shattering records and solidifying his status as the highest-paid Bollywood star. <cmsannotation type="cmsannotation" annotationid="2. Rajinikanth" comment="subhead" text="2. Rajinikanth">2. Rajinikanth</cmsannotation> With an approximate net worth of Rs. 430 crore, Rajinikanth stands as the <keyword id="6818153" type="General" weightage="20" keywordseo="Highest-paid-actor" source="Orion">highest-paid actor</keyword> in South India. Revered almost like a living deity in Southern India and beyond, his mere presence in a film draws enthusiastic crowds. he has predominantly worked in Tamil cinema. Rajinikanth's latest outing, "Jailer," an action comedy, proved to be a box office hit, for which he commanded a fee of Rs. 110 crores. <cmsannotation type="cmsannotation" annotationid="3. Joseph Vijay" comment="subhead" text="3. Joseph Vijay">3. Joseph Vijay</cmsannotation> Joseph Vijay Chandrasekhar, also known as Thalapathy Vijay, ranks among the highest-paid actors in South India with an approximate net worth of Rs. 474 crores. His career, which began at the age of 10 in 1984 as a child artist in the movie "Vetri," spans over two decades. Vijay stands as one of the most reliable performers in the South Indian film industry. Among his 2023 releases are "Varisu," which raked in around Rs. 300 crore worldwide, and "Leo," grossing over Rs. 612 crore globally. Remarkably, "Leo" emerged as the highest-grossing Tamil film of 2023. <cmsannotation type="cmsannotation" annotationid="4. Prabhas" comment="subhead" text="4. Prabhas">4. Prabhas</cmsannotation> Prabhas soared to true stardom following the release of SS Rajamouli’s historic Baahubali duology, leading to a remarkable 94 per cent surge in the actor’s net worth over the past eight years. Despite the controversial reception of his film Adipurush, his latest venture Salaar has achieved considerable success, boasting a domestic net collection of Rs369.37 crore. This surpasses Rajinikanth’s Jailer, which stands at a net of Rs348.55 crore, firmly establishing Prabhas's enduring influence in the industry. <cmsannotation type="cmsannotation" annotationid="5. Aamir Khan" comment="subhead" text="5. Aamir Khan">5. Aamir Khan</cmsannotation> Renowned for his meticulous approach to film roles, Aamir Khan has garnered a dedicated fan base, earning him the moniker ‘Mr. Perfectionist’ for his unwavering commitment to excellence. While his recent release, Laal Singh Chaddha in 2022, didn't achieve significant success, his upcoming project, Sitaare Zameen Par, slated for a 2024 holiday season release, continues his tradition of delivering fan-favorite hits like Dangal, PK, and 3 Idiots. This consistent track record has contributed to Khan's substantial net worth, currently estimated at Rs1862 crore. <cmsannotation type="cmsannotation" annotationid="6. Salman Khan" comment="subhead" text="6. Salman Khan">6. Salman Khan</cmsannotation> With a substantial fan base, Salman Khan has transitioned from the romantic roles of the 1990s to the endearing 'bhai' of recent times. His cinematic evolution has propelled him to become one of the highest-paid Indian actors. Notably, his latest blockbuster, Tiger 3, has amassed over Rs466.63 crore worldwide, contributing to Khan's estimated net worth of Rs2900 crore. <cmsannotation type="cmsannotation" annotationid="7. Kamal Kaasan" comment="subhead" text="7. Kamal Kaasan">7. Kamal Kaasan</cmsannotation> Kamal Hassan, a prominent figure from South India, boasts an impressive filmography of around 220 movies across multiple languages. Despite no releases in 2023, fans are eagerly awaiting his collaboration with director Mani Ratnam for KH 234, contributing to his estimated net worth of approximately Rs150 crore. <cmsannotation type="cmsannotation" annotationid="8. Allu Arjun" comment="subhead" text="8. Allu Arjun">8. Allu Arjun</cmsannotation> Arjun gained nationwide recognition for his lead role in Pushpa: The Rise, a highly acclaimed Telugu film released in 2021. With an estimated net worth of approximately Rs350 crore, his upcoming film is anticipated to break box office records with the sequel of Pushpa, slated for release in 2024. <cmsannotation type="cmsannotation" annotationid="9. Akshay Kumar" comment="subhead" text="9. Akshay Kumar">9. Akshay Kumar</cmsannotation> Known for his impeccable comic timing in films like Hera Pheri and Bhool Bhulaiyaa, Akshay Kumar has also taken on roles in socially relevant movies such as Toilet: Ek Prem Katha and Padman. Despite no major hits in 2023, his guest appearance in OMG 2 contributed to its global earnings of approximately Rs 221 crore. With an estimated net worth of around Rs2500 crore, Kumar continues to leave his mark on Bollywood. <cmsannotation type="cmsannotation" annotationid="10. Ajith Kumar" comment="subhead" text="10. Ajith Kumar">10. Ajith Kumar</cmsannotation> Kumar, another prominent South Indian actor among the highest-paid, garnered praise for his role in the 2023 film Thunivu, captivating audiences with his performance. The movie raked in a total of Rs130 crores in the Indian market. With an estimated net worth of around Rs196 crore, Kumar continues to make waves in the industry. <cmsannotation type="cmsannotation" annotationid="Frequently asked questions" comment="subhead" text="Frequently asked questions">Frequently asked questions</cmsannotation> 1. What is Shah Rukh Khan's approximate net worth, and what recent successes has he had? Shah Rukh Khan's approximate net worth is Rs. 6300 crores. He delivered two consecutive blockbusters in 2023, "Jawan" and "Pathaan," both surpassing Rs. 2000 crores worldwide. His latest release, "Dunki," continues to rake in significant earnings. 2. Who is Rajinikanth, and why is he revered in Southern India? Rajinikanth is a highly revered actor, almost considered a living deity in Southern India. He has predominantly worked in Tamil cinema and commands enthusiastic crowds due to his iconic status. 3. What are some notable films in Joseph Vijay's career, and how successful have they been? Joseph Vijay, also known as Thalapathy Vijay, has had a prolific career spanning over two decades. Notable films include "Varisu," which grossed around Rs. 300 crore worldwide, and "Leo," which grossed over Rs. 612 crore globally, emerging as the highest-grossing Tamil film of 2023. 4. How did Prabhas achieve stardom, and what recent successes has he had? Prabhas gained stardom following the success of SS Rajamouli’s Baahubali duology. Despite mixed reception for his film Adipurush, his recent venture Salaar achieved considerable success, boasting a domestic net collection of Rs369.37 crore. 5. What is Aamir Khan's reputation in the film industry, and what upcoming project is he involved in? Aamir Khan is renowned for his meticulous approach to film roles, earning him the moniker ‘Mr. Perfectionist’. His upcoming project, "Sitaare Zameen Par," slated for a 2024 release, continues his tradition of delivering fan-favorite hits like Dangal, PK, and 3 Idiots. SEE ALSO: <a href="https://www.businessinsider.in/meet-the-top-10-richest-actors-in-india/articleshow/69645149.cms" data-type="tilCustomLink" target="_blank">top 10 richest actors in India</a> <a href="https://www.businessinsider.in/entertainment/news/top-10-richest-actresses-of-india/articleshow/72018327.cms" data-type="tilCustomLink" target="_blank">Top 10 richest actress in India</a>

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