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<ul><li><keyword id="19399957" type="General" weightage="20" keywordseo="zerodha-users" source="Orion">Zerodha users</keyword> across the country are reportedly facing network issues.</li><li>Users are reportedly unable to view their holdings, execute orders, sell stocks and more.</li><li>Zerodha has acknowledged the issue and has claimed that it is working on restoring services.</li></ul> Zerodha, a popular stock broker and trading app, reportedly stopped working due to technical issues on Monday morning. Users have taken to social media to complain that they are not able to see their holdings, trades and other details on their accounts. Update: As of 12:50 PM, Zerodha has started working. All the services are once again live on the application. <cmsannotation type="cmsannotation" annotationid="Downdetector gets nearly 2,000 reports" comment="subhead" text="Downdetector gets nearly 2,000 reports">Downdetector gets nearly 2,000 reports</cmsannotation> <div type="image" title="Zerodha outage" msid="104999756" hostid="261" caption="&amp;lt;p&amp;gt;Zerodha outage&amp;lt;/p&amp;gt;"></div> Downdetector, a popular website that tracks outages across websites and applications, has reported a massive spike in reports about the Zerodha outage. As of 9:39 AM, there were over 1,700 reports around the Zerodha outage. Zerodha has posted on X (formerly Twitter), confirming the issue and has said that it is working on solving the issue. <div type="twitter" handle="zerodhaonline" handlename="zerodhaonline" favoritecount="0" retweetcount="0" id="1721377390839099642"></div> “Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. The holdings and funds page is also not loading. We're working on fixing this and regret the inconvenience caused,” Zerodha said in its post. <cmsannotation type="cmsannotation" annotationid="Users take to social media" comment="subhead" text="Users take to social media">Users take to social media</cmsannotation> Traders and investors looking to start the week with some good investments and trades have taken to social media platforms like X to complain about the outage. <div type="twitter" handle="iGeekVision" handlename="iGeekVision" favoritecount="0" retweetcount="0" id="1721383559544664493"></div> <div type="twitter" handle="amitbhawani" handlename="amitbhawani" favoritecount="0" retweetcount="0" id="1721384758142443779"></div> Some users have also reported that they are unable to close their positions or sell their existing stocks. <div type="twitter" handle="hridayrajshyam" handlename="hridayrajshyam" favoritecount="0" retweetcount="0" id="1721379715200770321"></div> <div type="twitter" handle="Sunil68147115" handlename="Sunil68147115" favoritecount="0" retweetcount="0" id="1721383860574060966"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/mercedes-benz-gle-facelift-heres-what-the-luxury-suv-packs-at-96-4-lakh/articleshow/104912934.cms">Mercedes-Benz GLE Facelift – Here’s what the luxury SUV packs at ₹96.4 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a>

Zerodha app goes down – company acknowledges issue as users complain on social media

<ul><li>A <keyword id="14249764" type="General" weightage="20" keywordseo="cloudflare-outage" source="Orion">Cloudflare outage</keyword> has impacted several popular websites and services.</li><li>Users have flooded Twitter with memes about the outage.</li><li>Here are some of the best memes around the <keyword id="1617807" type="General" weightage="100" keywordseo="cloudflare" source="Orion">Cloudflare</keyword> outage</li></ul>Cloudflare, a major content delivery network (CDN) is currently facing technical issues, affecting popular websites and services like <keyword id="759851" type="General" weightage="80" keywordseo="zerodha" source="Orion">Zerodha</keyword>, Discord, Canva, and more. Cloudflare has <a href="https://twitter.com/Cloudflare/status/1539140097374793728">confirmed</a> the outage and has said that the company is working on resolving the issue. Users of the affected websites have taken to Twitter to talk about the outage and are using memes to show their frustration. Here are some memes about the Cloudflare outage. <div type="twitter" handle="Mujju1864" handlename="Mujjamil" image="http://pbs.twimg.com/profile_images/1307170091344121857/MAxd2ypd_normal.jpg" favoritecount="55" retweetcount="4" status="Options traders right now:#zerodha https://t.co/nNS3CD2J6W" createdat="1655795372000" id="1539143463547314176"></div> Popular stock broker Zerodha has also been affected by the outage and users have been facing issues while placing orders. <div type="twitter" handle="1992gaurav" handlename="Gaurav Shrishrimal (Kaagaz)" image="http://pbs.twimg.com/profile_images/1524401171930124289/P_wtQuHw_normal.jpg" favoritecount="27" retweetcount="4" status="Markets are ⏫ but #zerodha is down..Traders to #Zerodha team 😅 https://t.co/wH63q66tbg" createdat="1655795709000" id="1539144877040099331"></div> <div type="twitter" handle="MSA91856940" handlename="M S A @89 ☮️" image="http://pbs.twimg.com/profile_images/1157057900948279296/O2Y9S646_normal.jpg" favoritecount="0" retweetcount="0" status="#zerodha https://t.co/9lNqBMoh7M" createdat="1655798938000" id="1539158420216893440"></div> Some of the users have shared tweets with memes of Ashneer Grover and scenes from popular web series Mirzapur. <div type="twitter" handle="ThatBeardoAdam" handlename="Adam. We’re getting Dragon's Dogma 2, baby!" image="http://pbs.twimg.com/profile_images/1481860253243555841/jUplwls5_normal.jpg" favoritecount="197" retweetcount="58" status="#Downdetector, the website that tells you if any sites have disrupted service, is also down because it runs on… https://t.co/AQHEjYaeIl" createdat="1655794724000" id="1539140745910980608"></div> <div type="twitter" handle="RedLionKNC" handlename="Kristopher ✿ - 🌈" image="http://pbs.twimg.com/profile_images/1532007091766013952/lAnpv5Zu_normal.jpg" favoritecount="1" retweetcount="0" status="THERE ISNT ANYWAY THE. DOWNDETECTOR SERVERS ARE DOWN TOO https://t.co/uELJf1FOG2" createdat="1655796991000" id="1539150256658595842"></div> Downdetector, a website that helps you find out if a website is down or not, is ironically itself down. <div type="twitter" handle="iEmpireUK" handlename="iEmpire" image="http://pbs.twimg.com/profile_images/1475798482019618819/aRkcbtog_normal.jpg" favoritecount="0" retweetcount="0" status="Hey @Cloudflare have you tried turning it off and on again?#Cloudflare #CloudflareOutage #cloudflareisdown https://t.co/EUurmiZjRu" createdat="1655798910000" id="1539158305204994048"></div> <div type="twitter" handle="IvetaOsobova" handlename="Iveta Osobová" image="http://pbs.twimg.com/profile_images/1401127511585607682/PHHXbbrM_normal.jpg" favoritecount="1" retweetcount="1" status="Me returning to work after a long holiday weekend 🙈#cloudflareisdown #cloudflareoutage https://t.co/BoKqeXfYM5" createdat="1655796014000" id="1539146158102265864"></div> <div type="twitter" handle="cdrice999" handlename="Charles Dee Rice" image="http://pbs.twimg.com/profile_images/203662137/20080906-IMG_0247twitter_normal.jpg" favoritecount="0" retweetcount="0" status="Oncall admins at @Cloudflare looking at their alerts. &quot;Wait, it's _all_ down?... That can't be right.&quot; #Cloudflare… https://t.co/GwZoQ2XbxY" createdat="1655794416000" id="1539139455197450240"></div> Some of the users also shared memes from popular movies. <div type="twitter" handle="LightskinB7" handlename="Mix℮d man" image="http://pbs.twimg.com/profile_images/1439149444012945444/TlooyNKr_normal.jpg" favoritecount="1" retweetcount="1" status="#Cloudflare outage put #discord and #valorant down in the middle of my last comp game this act 🙈@PlayVALORANT… https://t.co/fcQe2P7HbY" createdat="1655795976000" id="1539145999792365571"></div> Valorant players also took to Twitter to rant about the outage. <div type="twitter" handle="Spades__Esports" handlename="Spades Esports" image="http://pbs.twimg.com/profile_images/1537796565259141120/sb5UmvCC_normal.jpg" favoritecount="4" retweetcount="0" status="Valorant and Discord down?! Looks like we may have to touch grass the 2nd time this year #discorddown @PlayVALORANT… https://t.co/FI11dxQpuD" createdat="1655795479000" id="1539143911482003457"></div> <div type="twitter" handle="TheGooseHouse" handlename="The Goose House" image="http://pbs.twimg.com/profile_images/1531867341612621824/vNpn-wI2_normal.jpg" favoritecount="11" retweetcount="0" status="When VALORANT and discord both go down😳 https://t.co/HlF37DTsSF" createdat="1655795467000" id="1539143864618983430"></div> <div type="twitter" handle="JustKingsLuck" handlename="King" image="http://pbs.twimg.com/profile_images/1539140428905299969/WtMC6AG3_normal.jpg" favoritecount="2" retweetcount="0" status="Trying to play @PlayVALORANT:&quot;Update Server Down&quot;Trying to log into @discord:&quot;Check out server status&quot;… https://t.co/5EmbzqeWwi" createdat="1655795428000" id="1539143700080738315"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tvs-electric-scooters-tvs-iqube-iqube-s-and-iqube-st-comparison/articleshow/92356267.cms">TVS iQube, iQube S and iQube ST compared – price, specifications and features</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2t-smartphone-india-pricing-and-launch-date-leaked/articleshow/92352401.cms">OnePlus Nord 2T India pricing and launch date leaked – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/india-expands-its-crackdown-on-vpn-bans-its-employees-from-using-vpn-and-cloud-services/articleshow/92272901.cms">India expands its crackdown on VPN, bans its employees from using VPN and cloud services</a>

Cloudflare outage affects Zerodha, Discord, Valorant and more – here’s how Twitter reacted

<ul><li>Investors rushed to Zerodha as two exciting IPOs⁠— from IRFC and Indigo Paints⁠— were open for subscription.</li><li>CEO Nithin reportedly admitted that the systems were down for a bit, but not completely crashed.</li><li>Zerodha has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020, and is the largest institutional broker in the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India's largest institutional broking firm Zerodha’s platform crashed during the peak market hours on Wednesday, as users rushed to place orders for the two hot initial public offers in the market — Indian Railway Finance Corporation and Indigo Paints. Furious investors complained on Twitter as the website restricted them from applying for the IPOs. Zerodha currently owns the largest share of the pie in the institutional broking industry and has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020. Zerodha’s CEO Nithin Kamath <a href="https://economictimes.indiatimes.com/tech/tech-bytes/users-complain-of-zerodha-outage-as-indigo-paints-ipo-opens/articleshow/80362725.cms">told ET</a> that the systems were down for a bit, but not completely crashed. “Multiple tries would have worked. The IPO has a lot of people trying to apply at the same time. It is slow, but working,” he added. Business Insider reached out to Zerodha for comments but we are yet to receive a response. <div type="twitter" handle="real_manikant" handlename="Manikant" image="http://pbs.twimg.com/profile_images/1348894458952130561/HZ-T19JA_normal.jpg" favoritecount="66" retweetcount="6" status="Come on #zerodha. This is not the first time it's happening. Since morning the Console is down. What are you guys d… https://t.co/3gXgQomop8" createdat="1611128077000" id="1351795251791319041"></div> <div type="twitter" handle="1Riteshgupta_" handlename="Ritesh" image="http://pbs.twimg.com/profile_images/1285920568768737280/v3_ytfeX_normal.jpg" favoritecount="1" retweetcount="0" status="@Nithin0dha @zerodhaonline why I can't buy / trade in bank nifty 33000 strike this week option contract. Very bad e… https://t.co/H4RShEBgre" createdat="1611137187000" id="1351833460512493568"></div> <div type="twitter" handle="Kishore64653096" handlename="Kishore K" image="http://pbs.twimg.com/profile_images/1193798534308364290/KCbNIV_i_normal.jpg" favoritecount="3" retweetcount="1" status="#zerodha completely disappointing on emergency situations. Not for the first time https://t.co/vrA29M2XPe" createdat="1611142108000" id="1351854099558330370"></div> According to the <a href="https://downdetector.in/status/zerodha/">Down Detector website</a>, the outage peaked around 11:15 am and normalised around 5 pm, when the market closed for IPO subscription. Hot bets — IRFC and Indigo Paints The investors have been going crazy as the IPO bonanza has lit up the street once again. The <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC’s ₹4,634 crore IPO </a>concluded today with a subscription of a little over 3 times the offer value, and at the same time, Indigo Paints’ ₹1000 crore IPO opened for public subscription — the issue was subscribed fully within a few hours. Both the IPO received top recommendations from nearly all brokerages based on various factors from strong valuation to robust business growth and healthy financials. The<a href="https://www.businessinsider.in/stock-market/news/indigo-paints-1000-crore-ipo-to-open-on-january-20-in-india/articleshow/80248736.cms"> Indigo Paints’ IPO was hot in the grey market</a>, even before opening for public subscription. The grey market data showed that people were ready to pay a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Two smoking hot IPOs choke India's largest broking site Zerodha

<ul><li><keyword id="1430802" type="COMPANY" weightage="20" keywordseo="Nithin-Kamath">Nithin Kamath</keyword> of <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> believes that the answer to many of the country’s problems lies in moving away from the larger cities.</li><li>Zerodha is already in the process of transitioning as many employees as possible to permanent <keyword id="123591" type="PERSON" weightage="20" keywordseo="Work-from-home">work from home</keyword>.</li><li>The COVID-19 pandemic made ‘work from home’ the new normal as thousands of employees moved back to their hometowns fleeing the bigger cities, which first came under the COVID-19 crisis.</li></ul>Nithin Kamath, founder and chief executive officer of India’s largest stockbroking platform Zerodha, believes that the answer to many of the country’s problems lies in moving away from the larger cities. Kamath wrote on social media platform Twitter, “Large cities are choking and will continue to break down every time we're tested, COVID today, could be water shortages, pollution, floods, etc. Moving to smaller towns &amp; villages will also create livelihoods there &amp; reduce carbon footprint.” <div type="twitter" handle="Nithin0dha" handlename="Nithin Kamath" image="http://pbs.twimg.com/profile_images/1383253892058673154/eBvRFTVL_normal.jpg" favoritecount="884" retweetcount="156" status="While we all work together to figure out what we can do to help in the current situation, I think the only long-ter… https://t.co/72H4SimsMi" createdat="1619256190000" id="1385887027078471683"></div> Zerodha, Kamath wrote, is already in the process of transitioning as many employees, as possible, to permanent work from home (<keyword id="1384155" type="COMPANY" weightage="20" keywordseo="WFH">WFH</keyword>). “We are also now hiring for permanent WFH positions for our Customer support team &amp; soon for other teams as well. I'm hoping that other businesses who can, will also move whatever jobs possible to permanent WFH and nudge their teams to make this transition,” he added. Kamath isn’t the only one with the belief that it’s possible to turn to India’s smaller cities. Another billionaire, Zoho’s founder Sridhar Vembu, has been an advocate for the same for a long time. Vembu has long moved to Mathalamparai, a small village in Tamil Nadu, and runs Zoho from there. The COVID-19 pandemic made ‘work from home’ the new normal as thousands of employees moved back to their hometowns fleeing the bigger cities, which first came under the COVID-19 crisis. After seeing the successful implementation of WFH, companies like food delivery app Zomato, accommodation player <keyword id="2808667" type="COMPANY" weightage="20" keywordseo="OYO">OYO</keyword>, have already said that they are moving towards a working culture which includes permanent work from home. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-vcs-and-startups-are-now-looking-to-charter-flights-and-import-oxygen-cylinders-and-concentrators-into-the-country/articleshow/82230785.cms">Indian corporates, VCs and startups are now looking to charter flights and import oxygen cylinders and concentrators into the country</a> <a href="https://www.businessinsider.in/business/startups/news/covid-19-pandemic-has-thrown-the-spotlight-on-a-five-year-old-startup-with-emergency-ambulance-service/articleshow/82229745.cms">COVID-19 pandemic has thrown the spotlight on a five-year old startup with emergency ambulance service⁠</a> <a href="https://www.businessinsider.in/india/news/the-covid-19-crisis-would-be-much-worse-without-these-good-samaritans-of-india-providing-home-cooked-food-financial-assistance-and-medicines/slidelist/82230244.cms">The COVID-19 crisis would be much worse without these good samaritans of India providing home-cooked food, financial assistance and medicines</a>

An Indian billionaire says it’s time to pack up and move from India’s large cities and permanently work from home

<ul><li>The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators.</li><li>There are three types of IPOs that you could apply for – equity, bonds, and REITs.</li><li>Mohit Mehra, business analyst at Zerodha breaks it down for us. Mehra added that REIT units are different from equity shares in terms of the underlying structure.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>As the ₹3,800 crore <keyword id="10024217" type="UNKNOWN" weightage="20" keywordseo="Brookfield-REIT-IPO">Brookfield REIT IPO</keyword> opened, users turned to stockbroking apps like Zerodha, Groww, Angel Broking and others, only to not find the IPO listed in the apps. While users worried whether this was another downtime faced by the apps, the answer is actually quite simple. <div type="twitter" handle="SalmanRooney" handlename="Salman" image="http://pbs.twimg.com/profile_images/1350093731110633473/tp0IRD_Q_normal.jpg" favoritecount="0" retweetcount="0" status="Brookfield IPO not available on Zerodha ??@zerodhaonline" createdat="1612411997000" id="1357180399798001665"></div><div type="twitter" handle="AbhishekZao" handlename="Abhishek Zao" image="http://pbs.twimg.com/profile_images/1278619437306753024/j5q-lM4__normal.jpg" favoritecount="1" retweetcount="0" status="@ipo_mantra Sir Brookfield ipo not showing in Zerodha" createdat="1612413652000" id="1357187343636000768"></div> The UPI method of applying for REIT IPOs is not yet allowed by India’s market regulators. There are three types of IPOs that you could apply for – equity, bonds, and REITs. For REIT issues, the UPI method is not yet live, for bonds it was taken live on January 1st, where brokers still have to build systems to take it live on their apps. <div type="image" title="image (41)" msid="80686519" hostid="261"></div> Mohit Mehra, business analyst at Zerodha breaks it down for us. “In the first REIT issue - Embassy, the minimum application size was for ₹2.40 lakh compared to the minimum application size of ₹55,000 for Brookfield. Although the limit for UPI IPO applications is ₹2 lakh, the system is not yet live by the exchanges. So, brokerages can’t offer it via UPI. SEBI may soon issue directions to take REIT IPOs live on UPI as it did for bonds,” he said. Mehra added that REIT units are different from equity shares in terms of the underlying structure. “Investors should check the suitability of financial products in their overall portfolio before investing in them,” he said. Here’s how you can apply for Brookfield REIT IPO You can apply for REIT IPOs using your net banking. Per directives, every IPO bid should be backed by ASBA or Application Supported by Blocked Amount which allows the bank to block funds in the applicant's account for the application's value till the time the shares are allocated. Most of the Syndicate Banks provide access to apply in Brookfield REIT IPO via the ASBA process. You must have your net banking access, DP ID information to apply for Brookfield REIT IPO via ASBA. Banks like Axis, SBI allow you to apply maximum 5 applications from one bank account. However, ICICI, HDFC bank has a limit of one IPO ASBA application per account. <div type="image" title="image (42)" msid="80686533" hostid="261"></div> Here's a detailed guide on <keyword id="10704869" type="UNKNOWN" weightage="20" keywordseo="how-to-apply-for-Brookfield-REIT-IPO">how to apply for Brookfield REIT IPO</keyword> through ASBA: <ul><li>Sign in to the net banking of your registered bank portal.</li><li>Under the menu button, click on "Request".</li><li>You will now be directed to a new page to apply for the IPO.</li><li>Select the IPO you wish to apply.</li><li>Enter the required details such as bid quantity and applicant information.</li><li>Click submit after confirming the details.</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-subsidiary-to-sell-all-of-its-upstream-assets-in-marcellus-shale-play-for-250-million/articleshow/80682497.cms" data-type="tilCustomLink">Reliance subsidiary to sell all of its upstream assets in Marcellus shale play for $250 million</a> <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-says-sebi-ban-wont-stop-future-group-deal-with-reliance/articleshow/80680781.cms" data-type="tilCustomLink">Kishore Biyani says SEBI ban won't stop Future Group's deal with Reliance</a>

Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps

<ul><li>Indian regulations are far more stringent, well designed, and keep investors’ interest as a priority compared to the US’s capital market regulations.</li><li>On Indian exchanges, you can short stocks for intraday without borrowing from SLB platform. But such positions can’t be held overnight</li><li>Unlike in India, where SLB is relatively new and not active, it is a huge market in the US. Many large short-only hedge funds identify and short companies that aren’t doing well without using F&amp;O, simply shorting the stocks directly.</li></ul>I guess you have read the headlines from the US on how retail traders are causing a “short squeeze” in stocks like <keyword id="363661" type="COMPANY" weightage="20" keywordseo="GameStop">GameStop</keyword>, AMC entertainment, etc. If you haven’t, check this article by <a href="https://finshots.in/archive/gamestop-reddit-retail-investors/">Finshots</a> that explains this well. We have been getting a lot of questions around shorting, and if a short squeeze of this scale can happen in stocks listed on Indian exchanges. It cannot, and below, I explain why. Quick intro to Stock lending &amp; borrowing (SLB) Many people who invest in the markets think that the only way to profit is buying stocks that have the potential to grow with an expectation that if the companies do well, the prices will also go up. This buying of stocks is also called going “long stocks”. While most of us invest or go long stocks, there is a small community of active traders who do the opposite. They identify stocks that are not doing well and bet that the stock prices will go down. The trade is to first sell a stock at the current price (yes, sell a stock without owning it) and then buy it back at a lower price, when it falls, and pocket the difference. You sell a stock that you don’t own by borrowing the stock from someone and then selling it in the market. When the price goes down, you buy it back and then return the stock to the lender and profit. Of course, you can lose money if the stock price goes up instead of down as you would have to buy it back at a higher price. Someone will lend you the stock because the borrower will pay a fee for that and in the process, the lender earns an additional income from their stock holding. Of course, a lender will lend the stocks only if their intention is to hold it for the long term and not sell it within the period for which the stock is lent. This mechanism of lending and borrowing stocks is called Stock Lending and Borrowing or SLB. It was introduced in India in 2008 and activity on the SLB platform only started picking up in 2018 when the regulator permitted rollover of stocks lent upto 12 months (minimum 1+11 months). Shorting on Indian exchanges On Indian exchanges, you can short stocks for intraday without borrowing from SLB platform. But such positions can’t be held overnight as you would be required to deliver the stocks for short positions held into the next trading day. While there are many short trades in stocks taken on an intraday basis, almost all overnight short positions are done using futures and options and not SLB, where traders bet on indices or stocks going down. Here are a few reasons: F&amp;O was introduced in 2001, so it had almost a 12-year head start to SLB, which started seeing the first bit of activity in 2013. Leverage (the ability to trade for more than the capital in hand) is inherently available with F&amp;O as a product. Also, with options, you have the flexibility to set up various trading strategies, and not just naked shorting like with SLB. Until recently, all F&amp;O contracts were cash-settled, which meant that they were simpler to trade than SLB where securities have to move between various accounts. In the exchange business, liquidity chases liquidity. F&amp;O contracts have a lot more liquidity than SLB, so by default, traders prefer to trade where the liquidity is higher as the impact costs tend to be much lower. But that said, there are a few benefits of trading on the SLB platform as well. In F&amp;O you can trade only in multiples of minimum lot size, but in SLB you could borrow and sell as low as a single share of a company. There are around 140 stocks that trade on F&amp;O, but the SLB platform has almost 350 stocks. So if you had to short stocks which are not on F&amp;O, the only option is SLB. F&amp;O contracts have a maximum validity of 3 months. You would have to bear a rollover cost (exit existing and enter the next 3-month contract). In stock F&amp;O contracts, the 3rd-month contract usually never has any trading volume, so you would need to roll over a contract almost every 2 months, which would be very expensive for long term short positions. In SLB, if you find a borrower who is willing to lend, you can borrow and sell stocks and hold a short position for upto 12 months without worrying about rollover costs. Lenders can earn an additional income on their long term portfolio and is an added incentive to participate. Because of these reasons, one might assume that there should be enough interest in the SLB platform to see activity. But there have been a few deterrents. Firstly, the lender’s income is qualified as “income from other sources”, so people lending will have to file using ITR3 and may need audits. Whenever there is a corporate action like rights and bonus issues, there is a forced closeout of the position. Finally, the product is complex in terms of back-end operations compared to F&amp;O, and brokerage firms still don’t have systems to scale this. At <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword>, we are working on offering the SLB platform to all our customers in the next few months. Shorting on US stock exchanges Unlike in India, where SLB is relatively new and not active, it is a huge market in the US. Many large short-only hedge funds identify and short companies that aren’t doing well without using F&amp;O, simply shorting the stocks directly. I had written this post a couple of years back, comparing Indian brokerage industry to the US. Here is an excerpt from that post that talks about differences in how security lending works in the US compared to India. How there is an incentive for brokers to lend securities, which has helped grow that market. Securities Lending The structure of our depository system, like our payments system, is a newer and advanced system as compared to the US. This is mainly because India didn’t have a legacy when we went online in the 1990s. We have depositories like NSDL and CDSL where we hold demat accounts that remain unaffected even if a brokerage firm goes into trouble. In the US all securities are essentially held in book or street name with the respective brokers, what they call a “books and records system”. This means the securities are all held by brokers. This also allows the brokerage firm in the US to lend these securities to people looking to short stocks or borrow for various trading strategies and earn an additional source of income (Unlike India, borrowing stocks to short is extremely popular in the US). The earning potential for these stocks held by the broker is typically based on the number of people wanting to short the stock. For example, early this year, when Marijuana stocks were moving wildly, there were periods of time where one could earn as much as 100% or more annualized returns just by lending these stocks. Regulations in the US mandate the brokerages to share some of the lending fees with the person who owns the stock, but the entire thing is quite opaque to the customer. Most never get to know how much was earned. In India, brokers can’t lend securities as they sit in the clients’ demat accounts with the depositories. Also, with the new set of regulations that came out on the 1st of Oct 2019, even securities bought by a customer that are unpaid for, cannot be pledged. Also, India does not have an SLB platform where clients can participate directly, and know the exact lending fees being earned. Shorting stocks – India vs the US Indian regulations are far more stringent, well designed, and keep investors’ interest as a priority compared to the US’s capital market regulations. This is also because of fewer legacy issues compared to the <keyword id="123399" type="ORGANIZATION" weightage="20" keywordseo="US-markets">US markets</keyword>. While some of the exchanges are quite old, all our capital market regulations are quite new and were created after the 1991 capital market reforms. Another reason for lax regulations in the US is the existence of powerful lobbies. A short squeeze or a stock going up forcing shorts to cover their positions by buying back stock which adds even more momentum on the way up can happen to any stock where shorting is allowed. But what we see in some of the stocks like Gamestop, AMC, are glaring loopholes left open by the US regulators. In some of these stocks, the total quantity of stocks shorted (stocks borrowed and sold + using derivatives) is much more than the free float or the total number of shares held publicly. Allowing such large speculative positions is quite ridiculous and a recipe for disaster. While everyone is celebrating retail traders winning over a large hedge fund in this case, it rarely ever plays out this way. Most commonly, retail ends up losing money when there is excessive speculation. In India, we have something called market-wide position limit (MWPL) where the maximum net position allowed in any stock is 20% of free float, both in F&amp;O and in SLB. The maximum allowed per client is 5% of open interest or 1% of total free float. Such position limits ensure that the chances of anomalies that can cause crazy spikes up or down, like what we are currently seeing in some US stocks, reduces significantly. But that said, a lower maximum position limit also comes with its own issues. There have been allegations in India that groups of traders move stocks to ban period (no new positions possible to be added) by buying deep OTM options at very low costs on certain low free float stocks. With no new positions allowed, any spike in the underlying stock price might exacerbate the move by forcing those stuck in a position to cover their shorts, causing a spike in the stock prices. The 5% OI on individual holdings makes this tougher to execute, and there are regulations to punish people who act in concert. Should shorting a stock be allowed at all? This is a philosophical question, and there are both for and against arguments to be made. I am for it because it enables better price discovery of a stock. There have been many occasions where short-sellers have identified potential frauds and ensured that such stock prices don’t go up. Additionally, those who hold short positions usually come to the rescue when there is a free fall in price, and there is no demand to buy a stock. A short position profit-booking by buying back the stock tends to add some support to the fall, reducing volatility. The flipside with shorting is that promoters of listed businesses have to also keep a much closer watch on the stock price. Apart from large short traders, it is possible to have competitors of a company trying to hurt the business by attempting to force the stock price down.

The founder of India’s largest broking firm argues that Gamestop-like chaos would never happen in India

<ul><li>The Reserve Bank of India capped the withdrawals from <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">YES Bank</keyword> at ₹50,000 and that has set a frenzy in motion in the banking sector.</li><li>From digital payments companies, that have wallets, to the ones that offer financial services and were linked with YES Bank have now come in the eye of the storm. </li><li>YES Bank accounted for 40% of <keyword id="4052276" type="PERSON" weightage="20" keywordseo="UPI-transactions">UPI transactions</keyword> in January 2020 – accounting for 514 million transactions. </li></ul>India’s central bank – the Reserve Bank of India capped the withdrawals from YES Bank at ₹50,000. That has set a frenzy in motion across the banking sector. People hurried to transfer money in netbanking or from the app, but both services were down from Thursday night, queues began in front of YES Bank ATMs. And, even fintech companies in India took a hit. From digital payments companies, that have wallets, to the ones that offer financial services were caught in the eye of the storm. According to the National Payments Corporation of India (NPCI), YES Bank was the UPI partner for about 20 apps. The bank accounted for 40% of UPI transactions in January 2020 – accounting for 514 million transactions. <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="phonepe">PhonePe</keyword>, the digital payments company’s servers went down late Thursday night, as it uses YES Bank as the backend for most of its UPI accounts. <div type="twitter" handle="PhonePe_" handlename="PhonePe" image="http://pbs.twimg.com/profile_images/1228394203421372416/4X3QZazb_normal.jpg" favoritecount="302" retweetcount="55" status="We are temporarily unavailable. We are going through an unscheduled maintenance activity. We apologize for any in… https://t.co/aiDh5XkKVx" createdat="1583432594000" id="1235631976263987201"></div>

 PhonePe’s CEO Sameer Nigam too addressed the issue early in the morning and wrote on Twitter, “Dear @PhonePe_ customers. We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap. We hope to be live in a few hours. Thanks for your patience. Stay tuned for updates!.” A few Twitter users called <a href="https://twitter.com/kamleshksingh/status/1235789461243363330">PhonePe</a> a collateral damage to the <keyword id="8873513" type="UNKNOWN" weightage="20" keywordseo="yes-bank-crisis">YES Bank crisis</keyword>. Meanwhile, <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> which offers retail and institutional broking, currencies and commodities trading, mutual funds, and bonds, too addressed its customers’ concerns. Nitin Kamath, the founder and CEO of the company YES Bank customers to change their primary bank linked with their Zerodha accounts immediately. “We have cancelled all fund withdrawal requests made by clients to their YES bank accounts so that the money doesn’t get blocked. Please change, if your primary bank account is YES, to any other and withdraw the funds,” he wrote on <a href="https://twitter.com/Nithin0dha/status/1235618502112727040">Twitter. </a> Payments processing platform <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> maintained that its payment gateway services are unaffected, yet didn’t rule that ‘some other services might be affected’. <div type="twitter" handle="Razorpay" handlename="Razorpay" image="http://pbs.twimg.com/profile_images/1032964966058536965/74NDff34_normal.jpg" favoritecount="61" retweetcount="30" status="Update on Yes Bank being placed under moratorium by RBI. Our payment gateway services are unaffected. While some o… https://t.co/yz2qH52xHB" createdat="1583431569000" id="1235627677467303936"></div>

 See Also: <a href="https://www.businessinsider.in/finance/news/yes-bank-mobile-and-net-banking-down-after-rbi-limits-withdrawals-to-50000/articleshow/74499754.cms">Yes Bank mobile and net banking down after RBI limits withdrawals to ₹50,000</a> <a href="https://www.businessinsider.in/finance/news/indias-largest-bank-stock-sees-the-sharpest-fall-in-over-7-years-investors-want-to-say-no-to-yes-bank/articleshow/74504449.cms">India's largest bank stock sees the sharpest fall in over 7 years — investors want to say 'no' to Yes Bank</a>

YES Bank – a leader in UPI transactions leaves payment companies like PhonePe high and dry

New Delhi, Global digital <keyword id="6370208" type="UNKNOWN" weightage="20" keywordseo="Payment">payment</keyword> platform <keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword> on Friday decided to wind down its domestic payment services in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> from April 1. From April 1, the company will focus all its attention on enabling more <keyword id="2387333" type="ORGANIZATION" weightage="20" keywordseo="international-sales">international sales</keyword> for Indian businesses, and shift focus away from its domestic products in India. "This means we will no longer offer domestic payment services within India from April 1," a PayPal spokesperson told IANS. The company has three centres in Bengaluru, Chennai and Hyderabad which are touted as the largest outside the US. The company also has its business development teams in India. PayPal said that it will continue to invest in product development that "enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth". The company processed $1.4 billion worth of international sales for over 360,000 merchants in India last year. The company on Thursday reported a strong growth in the fourth quarter of 2020 with revenue of $6.12 billion. It reported total payment volume (TPV) of $277 billion, growing 39 per cent. It added 16 million Net New Active Accounts (NNAs) in the fourth quarter. According to the company, it can have the greatest positive impact in India's economic recovery by pivoting its business to support its customers where they need it most. "PayPal is committed to doing all we can to help Indian businesses during these challenging times. The critical role our global payments platform plays in India has only been magnified by the pandemic," the company spokesperson said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

PayPal to focus on Indian businesses wanting to go global as it winds down operations from April 1

<ul><li>During the <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Annual General Meeting, the stocks of the company fell by over 6%, making Ambani lose over $2.5 billion in wealth.</li><li>Ambani with a total wealth of $69 billion, has fallen behind Warren Buffet, Larry Page, Elon Musk, Sergey Brin all of whom he had beaten just in the last few days. </li><li>During the AGM, Ambani also spoke about the delay in the deal with Saudi Aramco, which could have triggered the fall in stocks.</li></ul>Reliance Chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> was having a dream run at the stock market which resulted in him rising fast to the sixth rank in the <keyword id="962341" type="PERSON" weightage="20" keywordseo="Bloomberg-Billionaires-Index">Bloomberg Billionaires Index</keyword>. But during the Reliance Annual General Meeting, the stocks of the company fell by over 6%, making Ambani lose over $2.5 billion in wealth, dropping down four places to the 10th spot in the billionaires list. Ambani with a total wealth of $69 billion, has fallen behind Warren Buffet, Larry Page, Elon Musk, Sergey Brin all of whom he had beaten just in the last few days. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Billionaires </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jeff Bezos </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$179 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bill Gates </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$117 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bernard Arnault </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$95.1 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mark Zuckerberg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$91.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Steve Ballmer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$74.9 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Warren Buffet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$72.2 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larry Page </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$71.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elon Musk </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$70.6 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sergey Brin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$69.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$69 billion </td></tr></tbody></table>Source: Bloomberg Billionaires Index Reliance Industries stocks were trading at ₹1973.3 at 2 pm on Wednesday when the AGM began, but during the next one and half hours by the time markets closed, the stocks were down to ₹1842.35. On Thursday morning, Reliance share price stood at ₹1851.90. <div type="image" title="RIL 5 days." msid="76993015" hostid="261"></div> The fall in stocks came despite the fact that Reliance Jio got a $4.5 billion investment from Google, in the last of its investments for Jio Platforms. During the AGM, Ambani also spoke about the delay in the deal with Saudi Aramco, which could have triggered the fall in stocks. He said that while the Saudi Aramco deal for equity investment in the O2C business has not yet taken off as per the original timeline, Reliance values the two decade long relationship with Saudi Aramco and is very committed to a long term partnership. “One of the key reasons for the stock to correct post the AGM was the management's commentary that the Saudi Aramco deal has not progressed as per expectations and that the company will spin off their O2C business into a separate subsidiary. RIL and Saudi Aramco had signed a non-binding letter of intent in August 2019 wherein Saudi Aramco was looking at picking up a 20% stake in the O2C business at an enterprise value of $75 billion,” Jyoti Roy, DVP- Equity Strategist at Angel Broking told <a href="https://www.businesstoday.in/markets/company-stock/ril-share-price-falls-all-time-high-on-profit-booking-agm-mukesh-ambani/story/409964.html">Business Today.</a> Other analysts too agreed. “Deal with Saudi Aramco had not progressed as per the original schedule. Everyone was expecting a positive announcement on the deal progress. All other announcements are already known apart from google investment, plan to build affordable 4G smartphone and potential deployment of 5G services next year,” Abhijeet Bora, Senior Research Analyst at Sharekhan told <a href="https://economictimes.indiatimes.com/markets/stocks/news/ril-tanks-4-as-no-progress-announced-on-aramco-deal/articleshow/76978897.cms">Economic Times.</a> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/checkout-mukesh-ambani-reliance-industries-annual-general-meeting-highlights/articleshow/76976243.cms">Mukesh Ambani AGM speech highlights — Reliance Industries announces Jio Glass, Google partnership and plans to build a new smartphone</a> <a href="https://www.businessinsider.in/business/startups/news/zerodha-founder-defends-the-self-valuation-of-nearly-a-billion-dollars-and-why-he-never-raised-funds-from-investors/articleshow/76991607.cms">INTERVIEW: Zerodha founder defends the ‘self-valuation’ of nearly a billion dollars⁠ — and why he never raised funds from investors</a>

Mukesh Ambani loses over $2 billion and drops down four places in the billionaires list⁠ — that’s how important the RIL-Aramco deal is

Kolkata (West Bengal) [India], November 6 (ANI): Legendary South African batter AB <keyword id="43395" type="General" weightage="80" keywordseo="de-villiers" source="Orion">de Villiers</keyword> lauded star India batter <keyword id="6354486" type="General" weightage="50" keywordseo="virat-kohli" source="Orion">Virat Kohli</keyword> for his record-equalling 49th ODI ton and revealed that his former <keyword id="6354506" type="General" weightage="50" keywordseo="royal-challengers-bangalore" source="Orion">Royal Challengers Bangalore</keyword> (RCB) teammate and skipper looked laser-focussed when he met him at Kolkata before India's Cricket World Cup match against South Africa. <keyword id="13410" type="General" weightage="100" keywordseo="virat" source="Orion">Virat</keyword> tied with Indian legend <keyword id="6354267" type="General" weightage="50" keywordseo="sachin-tendulkar" source="Orion">Sachin Tendulkar</keyword>'s record of 49 ODI tons and performances from <keyword id="982208" type="General" weightage="50" keywordseo="shreyas-iyer" source="Orion">Shreyas Iyer</keyword>, Ravindra Jadeja, Kuldeep Yadav and <keyword id="967087" type="General" weightage="50" keywordseo="mohammed-shami" source="Orion">Mohammed Shami</keyword> proved instrumental in India's eighth successive win in CWC 2023 as they beat Proteas by 243 runs. "First of all, it was obviously not part of the plan (the meeting with Virat). It just happened that way, but things have always happened that way for the two of us. I was here this morning and I walked straight into him and I was like woah, I see you on your birthday and you are playing and you are about to match the record of the great Sachin Tendulkar and I just remember seeing those eyes. He was so laser-focused," said De Villiers to ICC as quoted by ESPNCricinfo. De Villiers said that he is inpressed by Virat's century, but not surprised because it is difficult to stop Virat once he settles and he still "wants more". "I gave him that big bear hug, and I must say I'm impressed but I'm not surprised. When Virat Kohli is focused, when he is playing well, its very difficult to stop. It is all about the desire. He still wants it, and he wants it more. I am expecting even more fireworks from here on," said De Villiers. De Villiers expressed happiness for Virat's ton, saying, "I am very happy for my brother. That is what he is to me. We come a long way together. We've got great memories on and off the field. And even though it is against South Africa, it made me sad in a way, but, I am very happy for my brother. What a great man," said the Proteas batting legend. In eight ICC CWC matches, Virat has scored 543 rund at an average of over 108, with two centuries and four fifties. His best score is 103*. India will take on Netherlands in their final league stage match on November 12. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/reliance-jio-launches-jiomotive-a-vehicle-tracking-and-diagnostics-device/articleshow/105006068.cms">Reliance Jio launches JioMotive, a vehicle tracking and diagnostics device</a> <a href="https://www.businessinsider.in/tech/news/zerodha-app-goes-down-company-acknowledges-issue-as-users-complain-on-social-media/articleshow/104999575.cms">Zerodha app goes down – company acknowledges issue as users complain on social media</a> <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a>

"Virat was so laser focused, expecting more fireworks from him": AB de Villiers

<ul><li><keyword id="44903" type="General" weightage="20" keywordseo="shiv-nadar" source="Orion">Shiv Nadar</keyword> made donations worth ₹1,161 crore during FY22, which comes up to ₹3 crore per day.</li><li>Wipro’s <keyword id="6419840" type="General" weightage="20" keywordseo="azim-premji" source="Orion">Azim Premji</keyword> slips to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year.</li><li>Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact.</li><li>The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year.</li></ul>Shiv Nadar, the founder and chairman of HCL Technologies, is India’s most generous, with donations of ₹3 crore per day, even as contributions towards philanthropy continue to moderate after the pandemic. With an annual contribution of ₹1,161 crore in fiscal 2022, Shiv Nadar has displaced Wipro’s Azim Premji as the most generous Indian, according to the EdelGive <keyword id="3606268" type="General" weightage="20" keywordseo="hurun-india-philanthropy-list" source="Orion">Hurun India Philanthropy List</keyword> 2022. The top 10 list cumulatively donated ₹3,378 crore in FY22, as against a combined donation of ₹12,785 crore last year. The good news is that the list has seen 19 new additions, with total donations by these new entrants adding up to ₹832 crore. Also, six women have featured on the list this year. The youngest philanthropist on the list is 36-year-old Nikhil Kamath of Zerodha. Clearly, the young entrepreneurs are beginning their philanthropic journey early on unlike many others from corporate India. Nadar’s philanthropic efforts have mainly focussed on education. Overall, contributions towards philanthropy have fallen in FY22 because of the pandemic impact. Nadar’s donation too is down 8% in the fiscal year 2021-22, as per the list. Wipro’s Azim Premji slipped to the second spot with an annual donation of ₹484 crore as his contribution towards philanthropy has fallen by 95% year-on-year due to the exceptional share buy-back in 2021, says the report. Billionaire <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, the chairman of Reliance Industries, is third on the list with contributions totalling ₹411 crore. Ambani’s contribution fell 29% compared to last year. Kumar Mangalam Birla was fourth on the list with a contribution of ₹242 crore. Couples Susmita &amp; Subroto Bagchi and Radha &amp; NS Parthasarathy from Mindtree’s management debuted on the list with a combined donation of ₹426 crore to the Indian Institute of Science (IISc) and also entered the top 10 and were ranked fifth. Both Subroto and Parthasarathy are co-founders of Mindtree. With a donation of ₹190 crore, <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> &amp; family ranks seventh on the EdelGive Hurun India Philanthropy List 2022. Next in line is Anil Agarwal &amp; family of Vedanta whose contribution increased by 27% from last year to ₹165 crore. Nandan Nilekani and his wife Rohini Nilekani are ranked ninth and eleventh, respectively, in the list and are active philanthropists. Larsen &amp; Toubro’s group executive chairman AM Naik is ranked tenth with a donation of ₹142 crore in FY22. While many billionaires of the past have turned generous later in life, some new-age tech entrepreneurs are giving away much earlier. <keyword id="1430802" type="General" weightage="20" keywordseo="nithin-kamath" source="Orion">Nithin Kamath</keyword> and Nikhil Kamath of Zerodha increased their donation by a whopping 300% to ₹100 crore during the year. At 36 years, Nikhil Kamath is the youngest philanthropist on the Hurun list. Another surprise entrant this year has been Rakesh Gangwal, the co-promoter of InterGlobe Aviation (company that owns Indigo Airlines). Gangwal debuted this year with a personal contribution of ₹100 crore to the School of Medical Sciences and Technology at IIT, Kanpur. “EdelGive Hurun India Philanthropy List aims at chronicling the Indian philanthropy landscape and so far the transformation is encouraging. For instance, over the last 5 years, (the) number of donors who have given more than ₹100 crore have grown from 2 to 15, and over ₹50 crore have grown from 5 to 20. Considering the wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next 5 years,” said Anas Rahman Junaid, MD and chief researcher at Hurun India. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 10 philanthropists </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Donation (in ₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Primary Cause </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,161 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Azim Premji &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">484 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">411 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Education </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">242 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Susmita and Subroto Bagchi </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Radha and NS Parthasarathy </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">213 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">190 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Anil Agarwal &amp; family </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">165 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Disaster Relief </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedanta </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nandan Nilekani </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Societal Thinking </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">AM Naik </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">142 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; 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