ANMI’s unveils the 2nd StockTech Survey on technology trends: An overwhelming 92.6% of stock brokers have increased the expenditure on technology during the pandemic

Mumbai, 17 December 2021 (TGN): Association of National Exchange Members of India (ANMI), India’s largest grouping of over 900 exchange brokers and members, today released the 2nd StockTech Survey Report on technology trends and challenges in the country’s broking industry. The report is a first-of-its-kind survey since the onset of the Covid-19 pandemic.

The StockTech Survey report was unveiled at ANMI’s StockTech 2021 – India’s biggest symposium and expo on transformative innovations and emerging technologies shaping our Financial Markets and broking industry–held at the BSE Convention Hall on December 17, 2021.

The survey helps determine the role and contribution of financial technologies in the stock broking industry. 

The exclusive, never-before seen data which is compiled by ANMI, is based on responses from broker members representing the top names in the broking industry. The survey provides a useful insight into the technological trends in the stock broking industry and will help market players access the extent of technology penetration in the capital markets. It also sheds light on the technology-related strategies adopted by the brokers to keep their business afloat during the pandemic. 

The survey findings show that an overwhelming 92.6% of stock brokers have increased the expenditure on technology during the pandemic. As many as 41% of stock brokers have increased their technological expenses by more than 20% in the past two years. Moreover, 39% of stock brokers bump up the budget to meet technological requirements on a year-on-year basis compared with 26.2% of brokers in 2018. 

Approximately 61% of the stock broking organisations today increase the budget for technology ‘as and when required’ against 71.4% in 2018.

As much as 65.8% of the boardroom meetings held during the pandemic discussed technology as the main header. In comparison, technology was the main driving point for 48.8% of leadership meetings during 2018. 

About 80.4% of respondents said they have not faced any problems related to technologies used in the past 2 years, while 19.5% said they had faced issues. As per analysis Back Office software is found to be invested in the most (78%) by stock brokers, followed by the front office at (73.17%) and Algos (68.29%).

Mr. Kamlesh Shroff, Convenor & Director, ANMI said “The changing landscape of financial technology has gained momentum because of the pandemic. Today most capital market entities have largely ingrained technology into their business model. The shift from offline to online transactions has helped the financial economy including the broking industry survive in these challenging times. The StockTech Survey provides a glimpse of the current and future technology culture in the broking industry as well as the strategies and solutions required to overcome the current economic challenges faced by our country and world economies. The StockTech exhibition provides a platform for all participants of the broking industry to gain the latest knowledge on technology to realise the full business potential”.

Congratulating ANMI on the launch of the Stocktech 2021 survey Report Mr. G. P. Garg, Executive Director, SEBI who was Special Chief Guest & Keynote Speaker said “It has been a good transformation moving from offline to online and Covid has expedited this digital transformation. I also urge ANMI to continue bringing solutions to provide ease of investing experience to investors as the future lies in providing complete data security” He added saying “A good technological solution needs to be accessed even by the common man who knows just the basics in tech and should not be just for the tech-savvy investors”

Mr.Mahesh Desai, Chairman, WIRC, ANMI said “The 21st century capital market stakeholders and investors are heavily dependent on technology. The last decade has thrown up major global challenges which require a concerted response from our industry for effective solution. Latest technology adoption is the answer to our business worries. We have been fortunate to have the support and guidance of technology experts and capital market participants to make StockTech 2021 a possibility in the given pandemic-climate. It has been and always will be ANMI’s endeavour to provide the stock broking industry the roadmap to achieve sustainable growth”.

The StockTech annual event is India’s largest gathering of the entire financial market technology ecosystem. It was attended by 31 top fin-tech exhibitors, vendors, Stock brokers, and most of the major industry stakeholders and influencers. 

Speaking at the event, Shri Ashish Kumar Chauhan, MD & CEO, BSE Said “We congratulate ANMI for organizing technology event for the broking community successfully year after year”

This symposium provides an opportunity for leading technology players operating in this segment to showcase their innovations and global expertise in meeting the requirements of India’s broking industry.

Government of Maharasthra’s (MARG) working extensively on factory worker’s safety and health post pandemic

MUMBAI, 16 DECEMBER, 2021 (TGN):  Government of Maharasthra’s (MARG) working extensively on factory worker’s safety and health post pandemic 

Directorate of Industrial safety and Health, Government of Maharashtra have even formed MahaMARG group for the entire state to work on safety and training programs post Covid 19..

The program started by Directorate of Industry safety and Health (DISH) called as ‘Mutual Aid Response Group’ (MARG) has gained much momentum since Covid 19.  MARG that was started by DISH under the Maharastra government to provide aid to factory workers during emergency has been working extensively to look after the safety and health of the factory workers across sectors. 

S.P. Rathod, Director, Directorate of Industrial Safety and Health, Govt. of Maharashtra while speaking at the inaugural event of OSH India organised by Informa markets, a two day conference at Nesco started on December 16 said, “MARG is very much active and working at its best to help the workers at factories. It has gained much momentum since Covid 19, as safety is a priority. We have been enforcing provisions of factory act made for safety and health of workers. While it is duty of factory owners to maintain factory in safe condition, the Government is also enforcing the law and providing safety and health training to the industry. Under MARG we are doing training program for workers at reactors, electrical safety industrial, Chemical factories, confined industry, machine guarding etc. Not only this we have come up with a group for whole Maharastra together called as MahaMARG. 

MahaMARG is a WhatsApp group formed by the state government along with factory owners, health and safety trainer to, share and train workers to keep them safe and healthy.

The ninth edition of Osh Indai is organised to create awareness and building business in occupational safety and health industry in the new normal. It started with participation of over 120 Leading Brands, expected to attract over 4000 visitors, Innovation and Technological breakthroughs at display. 

The expo brought together internationally renowned exhibitors, consultants, business experts and key government officials on a single platform to discuss global best practices and seek solutions to some of the most pressing challenges in the field of workplace safety and health. 

 

The event was inaugurated in the presence of Guest of Honour: S.P. Rathod, Director, Directorate of Industrial Safety & Health, Govt. of Maharashtra and Mr. D.P. Antapurkar, Director, Directorate of Steam Boilers, Govt of Maharashtra, along with dignitaries - Dr. Bishwadeep Paul, Vice-President, Indian Association of Occupational Health; Mrs. Wendy Leslie Pereira, Vice-President, Safety Appliances Manufacturers Association; Mr. Pankaj Jain, Group Director, Informa Markets and Mr. Prashant Jain, Project Director, Informa Markets in India amidst an august industry gathering. 

 

Pankaj Jain, Group Director, Informa Markets said, “We as an event organiser are here to bring all stakeholders together which include the Exhibitors, safety heads and safety managers from various firms. This is a platform to bring the entire community in the segment together. This event helps to increase awareness in the community and marketplace.”

The participation of over 75 leading exhibitors and over 120 brands  across India reaffirmed the need and focus of OSH India as an industry event.  These include Gold Partners -Ansell & Venus Safety & Health, Silver Partner – ABN Equipments & Redstar Safety, Hygiene Partner – M.N Rubber ( Shuklaz hand gloves ) and other key brands include,  Diamond Protect, Udyogi International, Ion Science, Tarapro, Youngman, Garware Technical Fibres Ltd, Portwest UC, Joseph Leslie, Lancer Footwear, IPAF, System 5S, H2 Safety, Axnoy and many more.  

  

Yogesh Mudras, Managing Director, Informa Markets in India said, “Covid-19 has forced companies to act quickly and decisively to keep workers safe at work. The government's Atmanirbhar Bharat initiative is also providing a massive boost to the manufacturing sector, thus creating an enabler environment and ensuring complete safety standards at various manufacturing facilities is the need of the hour. OSH India resonates Government and  industry’s support in ensuring the safety and health of the growing workforce in our country and is geared up to filling this vital gap with innovation and knowledge through its exhibits and conference in these two days.” 

 

This year, the expo is well supported by associations such as - International Powered Access Federation (IPAF), World of Safety & Health Asia ( WSHASIA ) and Safety Appliances Manufacturers Association (SAMA). 

The key sessions and panel discussions at the conference are attended by industry experts from across the country and leading international organizations such as–

Tata Coffee, Tata Consulting Engineers, Nayara Energy Limited, Hindalco Industries Limited, PiramalEnterprises Limited, Sterling and Wilson Solar, Dupont Sustainable Solutions, JLL Property Management Consultants India,  National Peroxide Limited, Bosch Ltd, Honda Motorcycle & Scooter India, Rustomjee Constructions, Pfizer and more.

OSH India 2021 is amply supported by its AllSecure & Travel Safety Guidelines – a safety standard initiative by Informa for its exhibitors, attendees, visitors, speakers or sponsors, customers are visiting the event. This has been introduced to conduct physical trade exhibitions amidst the new normal and has a detailed set of enhanced measures. 

About Informa Markets 

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com

 

About Informa Markets and our business in India 

Informa Markets is owned by Informa PLC, a leading B2B information services group and the largest B2B Events organiser in the world. Informa Markets in India (formerly UBM India) is India's leading exhibition organizer, dedicated to help specialist markets and customer communities, domestically and around the world to trade, innovate and grow through exhibitions, digital content & services, and conferences & seminars. Every year, we host over 25 large scale exhibitions, 40 conferences, along with industry awards and trainings across the country; thereby enabling trade across multiple industry verticals. In India, Informa Markets has offices in Mumbai and New Delhi. For further details, please visit –https://www.informamarkets.com/en/regions/asia/India.html

 

           

Informa Markets in India launches the 1st ISSA Conference India today- Serving the Indian Cleaning and Facility Management Industry

Mumbai, 21st October 2021(TGN):  ISSA and Informa Markets in India launched the first ISSA Conference India to serve the Indian global cleaning and facility management industry.  A two-day conference held between October 21-22, 2021 at the Hotel Lalit, Mumbai, ISSA Conference India is hosting 8 insightful sessions pertaining to Sanitation, Health, and Hygiene in India.

The Conference was inaugurated by Guest of Honour Ms Surekha Jadhav, Mayor of Lonavala, Mr Anand Ghodke, Water, Sanitation and Hygiene Officer, UNICEF India;  Prof (Dr) Neharika Vohra, Vice Chancellor, Delhi Skill and Entrepreneurship University, Govt of NCT of Delhi; Mr John Barrett, Executive Director, ISSA; Mr Peter Ankerstjerne, Chairman of the Global Board of Directors at IFMA; Mr Yogesh Mudras, Managing Director, Informa Markets in India and Mr Prashant Jain, Project Director, Informa Markets in India in an august gathering. 

The launch of the in-person ISSA Conference India is as timely as it is relevant considering the ongoing battle with the pandemic. It brought together industry leaders and professionals on a common & niche networking platform to share & exchange knowledge, innovations, developments, solutions & experiences. The event is designed to provide the commercial, institutional, and industrial stakeholders with lessons learned and best practices in cleaning, along with readiness and resilience as well as leadership in times of crisis. It comes on the heels of the incredibly successful inaugural event hosted by the partners in 2020 – the ISSA Global Biorisk Symposium in India. 

Speaking at the inauguration of ISSA Conference India in Mumbai, Mr. Yogesh Mudras, Managing Director, Informa Markets in India, said, “We are happy to work closely with ISSA to launch the ISSA Conference India. It has not only brought advanced international expertise to India’s fast-growing cleaning industry but is also presenting overseas innovative equipment, products and solutions to the huge Indian market that has a lot of potential in this niche industry. We believe, our partnership with ISSA for this conference will help promote the cleaning industry in a more organised manner. It has brought together professionals and organisations, sensitizing them on the pertinent issues in dealing with pandemics and redefining the global cleaning community with the single mission of changing the way the world views cleaning.”  

Professional cleaning service require in-depth knowledge of products, procedures, techniques and operations management.  To guarantee the highest quality standards, a continuous update both in terms of products and skills is essential. The two-day conference is highlighting the latest technological innovations and best practices in terms of cleaning and sanitization. The topics of discussion include – a panel discussion on ‘ Return to Work – Health, Hygiene and Safety’ , ‘Leveraging the New Normal to Accelerate Behavioral Change’, ‘The Science Behind Cleaning & Disinfecting’, ‘Integrating Infection Prevention into Routine Cleaning: Learnings from Covid Pandemic’, ‘The Next Big Need in India’s Facility Management World’, ‘Leveraging the Merger of Building Automation & Service IoT’, ‘Manage What You Measure: Developing a Top-Quality Assurance Program’ and ‘Making the Business Case for Investing in Cleaning & Hygiene’. The eminent Keynote speakers include –Mr Anand Ghodke, Water, Sanitation and Health (WASH) Officer, UNICEF India, Prof Dr Neharika Vohra, Vice Chancellor, Delhi Skill and Entrepreneurship University, Government of NCT Of Delhi.  The two day conference will see leading industry experts to include  Sam Cherian,  Founder Managing Director, Schevaran Laboratories, Wilson Selvaraj, Business Head – Industry and Manufacturing, and Healthcare segments, ISS India, Himanshu  Jain,  President- Indian-Subcontinent , Diversey India, Mr Rajesh Pandit, MD, CBRE India, South East Asia, Middle East and North Africa, Mr Rob Mayo, Director of Human Design, coLab, New Zealand, Mr Gaurav Dubey, General Manager -South Asia, Kimberly -Clark Hygiene Products Private Ltd, Mr Alok Jain, CEO & MD, Trans-Consult, Patty Olinger, Executive Director, Global Biorisk Advisory Council, Brant Insero, Director of Education Training, Certification & Standards, ISSA, Ms Keerthi  D Souza, MD, Life Giver Professional Services Ltd, Mr Sankar Sreedharan, Strategy & Program Lead, Sodexo Healthcare India, Ms Alpana Sharma- General Manager Operations, Sir HN Reliance Foundation Hospital, Mumbai, Dr. Ananya Gandotra, Head – Design & Sustainability, Birla Estates, Mr Amal Jaiswal, Head of Digital Buildings, Siemens Smart Infrastructure,  Mr Aalok A. Deshmukh, Co-founder and MD, Superhuman Race Pvt Ltd and Ms Susan Crane,  Director, Crane Consulting to name a few. 

The event is supported by UNICEF, Professional House Keeping Association and Global Biorisk Advisory Council. 

WHO SHOULD ATTEND? 

The ISSA Conference India establishes a framework for communication and awareness of best practices throughout the world and more specifically in the Indian market. The event is ideal for cleaning and facility management professionals looking for education, products, solutions and the latest technologies and trends to enhance the health and safety of the buildings they maintain. 

The ISSA conference India is for executive decision makers from commercial cleaning, industrial cleaning, hospitality, retail, public utilities, municipal environmental sanitation, indoor environment purification and other public venues of all sizes seeking to improve operating procedures

The ISSA Conference India is an intrinsic part of the ‘Festival of Business – Ushering Economic Resurgence’ campaign by Informa Markets in this festive season.  Festival of Business is a medley of 10 back-to-back shows till October end across different verticals in the physical, digital and hybrid formats. It has been curated to help discover the joy of in-person re-union, cementing bonds, networking, driving business objectives, spotting innovations through touch and feel, gathering marketing intelligence, and arriving at customized solutions through different platforms under the umbrella of each B2B show.

  

The ISSA Conference India is amply supported by its AllSecure & Travel Safety Guidelines – a safety standard initiative that provides attendees and participants the reassurance and confidence that they are participating in a safe and controlled environment. These international protocols are based on the broader principles of Physical Distancing, Protect & Detect, Cleaning & Hygiene and detailed Communications on these principles. 

 

About Informa Markets 

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organiser, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com 

 

About Informa Markets and our business in India 

Informa Markets is owned by Informa PLC, a leading B2B information services group and the largest B2B Events organiser in the world. Informa Markets in India (formerly UBM India) is India's leading exhibition organizer, dedicated to help specialist markets and customer communities, domestically and around the world to trade, innovate and grow through exhibitions, digital content & services, and conferences & seminars. Every year, we host over 25 large scale exhibitions, 40 conferences, along with industry awards and trainings across the country; thereby enabling trade across multiple industry verticals. In India, Informa Markets has offices in Mumbai and New Delhi.

For further details, please visit –https://www.informamarkets.com/en/regions/asia/India.html

Garmin India is excited to bring in the ultimate sale and amazing deals (Upto 25% off) on selected products on the occasion of Garmin’s Birthday

NATIONAL, MUMBAI  13 SEPTEMBER, 2021 (TGN): Duration: 13th Sept’21 to 30th Sept’21

Appended are the offers available:

 Garmin Forerunner 745 (Black/Magma Red)
Offer Details: MRP- Rs. 51, 990, now available at Rs. 45,990
Link of Spec Sheet: https://www.garmin.co.in/products/wearables/forerunner-745-tropic/#specsTab

 Garmin Lily (Dark Bronze/Light Gold)
Offer Details: MRP-Rs. 25,990, now available at Rs.22,990
Link of Spec sheet: https://www.garmin.co.in/products/wearables/lily-darkbronze/#specsTab

 Garmin fēnix 6 (Sapphire – Carbon Gray)
Offer Details: MRP- Rs.82,990, now available at Rs.72,990
Link of Spec Sheet: https://www.garmin.co.in/products/wearables/fenix-6-sapphire-carbon-gray/#specsTab

 Garmin fēnix 6X (Sapphire – Carbon Gray)
Offer Details: MRP- Rs.88,490, now available at Rs.77,990
Link of Spec sheet: https://www.garmin.co.in/products/wearables/fenix-6x-sapphire-carbon-gray/#specsTab

 Garmin fēnix 6 Pro Solar (Mineral Blue)
Offer Details: MRP-Rs 98,990, now available at Rs. 84,490
Link of spec sheet: https://www.garmin.co.in/products/wearables/fenix-6-pro-solar-blue-white/#specsTab

 Garmin fēnix 6X Pro Solar (Titanium Carbon Gray)
Offer Details: MRP-Rs 98,990, now available at Rs. 87,490
Link of spec sheet: https://www.garmin.co.in/products/wearables/fenix-6x-ti-carbon-gray/#specsTab

 Garmin Instinct (Graphite)
Offer Details: MRP-Rs 28,490, now available at Rs. 20,990
Link of spec sheet: https://www.garmin.co.in/products/wearables/instinct-tundra/#specsTab

 Garmin Instinct (Graphite/Tidal Blue)
Offer Details: MRP-Rs 41,490, now available at Rs. 34,990
Link of spec sheet: https://www.garmin.co.in/products/wearables/instinct-solar-blue/#specsTab

Bfi-Networks is offering ultra-high-speed of up to 1GB per second with some amazing plans at affordable pricing

MUMBAI, SEPTEMBER 2nd, 2021 (TGN): Bfi-Networks, a Secure Wireless Broadband service is one of the leading internet services providers in Mumbai. It is one of the fastest-growing service providers and continues to expand its services.

Bfi Networks Private Limited also known as B ‘net’ holds a Unified Access Services – ISP, Category I Certificate granted by the Department of Telecommunications (DoT), Ministry of Communications, Government of India & Down linking Permission granted by the Ministry of Information & Broadcasting (MIB).

BFI- Networks offers Fiber optic high-speed reliable and secured data plans that are unlimited data and other offers with varying network speed offers tailored to suit your individual needs. Its main business focus is Best High Speed & Internet service and customer care services.
From school lessons and office work to physical exercise or Yoga and doctors’ appointments or even video consultations – more and more aspects of people’s daily social and professional lives are moving online as a result of the Coronavirus (COVID-19) pandemic. This trend is particularly visible all over, people are advised to stay at home, self-isolate, or shelter in place, while most states and localities, school and public business closures in an effort to slow the spread of the virus. Hence, millions of people are now turning to technology for communication, entertainment, and work, causing an unprecedented spike in data traffic Bfi-Network is offering value for money internet connection and all the prices of their services come exclusive of taxes. Various plans can be checked on the official website of the company http://www.bfinetworks.com/


Speaking to our team, Mr. Sajid Vora – Founder & Director of Bfi-Networks said “The Internet has become one of the basic necessities in our lives after Air, Water, Food, and Shelter. Life without the internet seems to have no existence, it feels as if one is living an isolated life if there is no access to it. Moreover, in the ‘after corona life,’ the internet has become something excruciatingly necessary. After covid-19, everything is being managed online and indoors, therefore, it has become mandatory to have a stable internet connection and not something that takes ages of buffering! With the internet being so crucial, everybody is doing their best to afford a fast and reliable internet connection and broadband companies have also focused themselves on providing the best. With increasing competition in the market with regard to internet services, the broadband companies have been trying to provide the customers with something that their competitors are not”.

Mr. Vora further added that “COVID-19 Pushes Up Internet Use 70% and Streaming More Than 12%, as per reliable sources. With nearly all public gatherings called off, people are seeking out entertainment on streaming services like Netflix and YouTube and looking to connect with one another on social media outlets like Facebook. The Covid-19 pandemic has led to an inevitable surge in the use of digital technologies due to the social distancing norms and nationwide lockdowns. People and organizations all over the world have had to adjust to new ways of work and life. We at BFI Networks did our research and have laid down our infrastructure to manage this digital surge and the issues that arise out of it”.

Bfi-Networks provide Fiber-to-the-home (FTTH) which is a 100% Fibre Network that is a cable that contains glass/plastic fibers that transmit light instead of electricity, thus promising superior speed and Security. As a case in the point, consider Fiber that offers speeds of up to 1Gbps, Broadband allows you to complete your task of downloading or uploading large-sized files or multimedia content web pages much faster than a dial-up internet connection, thereby saving your valuable time, and giving you a superior internet experience, at the same time, preventing any tapping by hackers to steal your data.

of downloading or uploading large-sized files or multimedia content web pages much faster than a dial-up internet connection, thereby saving your valuable time and giving you a superior internet experience. ENDS

CA Krishna: ‘Demystifying Management Consulting as a Career Option post CA’

CA Krishna

MUMBAI, 1st SEPTEMBER, 2021 (TGN):Imagine the CEO of a major coffee chain in India coming to you with a simple problem statement, “The profits of the India business have declined over the past 2 years – how do I rectify the situation?” A management consultant’s life involves analyzing such problems & finding solutions on a day-to-day basis. 

Although management consulting has traditionally been viewed as a fiefdom of MBAs from top institutes (consulting firms are typically the top recruiters at leading Indian MBA campuses such as IIM-A, IIM-B, IIM-C, IIM-L, ISB etc.) the situation is fast evolving with many organizations such as Boston Consulting Group & Bain & Co. institutionalizing dedicated CA recruitment programs to attract talent.

Many CAs fail to consider management consulting as a career option due to lack of awareness regarding the opportunity – in this article, an attempt is made to throw some light on management consulting as a career

Management Consulting offers a great learning opportunity

Out of all the possible alternatives available to CAs post qualification, management consulting probably offers one of the steepest learning curves because of a variety of reasons. First, management consultants in the initial stages of their career get to work in a variety of industries (Financial Services, Consumer Goods, Industrial Goods, Healthcare, IT etc.) as well as topic areas (cost-reduction, sales acceleration, market entry strategy, commercial due diligence) making them well-rounded individuals. Second, management consultants get to work with senior industry professionals because the problems that management consultants try to solve are typically the ones that directly concern the CEO or sometimes even the Board. Third, colleagues in consulting organizations are extraordinarily smart people and they constantly motivate you to raise your bar. Finally, management consulting offers a very fast career progression – each promotion typically takes 2 years or less and 10-12 years in a consulting organization could lead to a partner designation.

As a newly qualified CA stepping into the world of consulting, you are not expected to have deep industry knowledge to solve each problem. Rather, what is expected is a first principles thinking approach whereby you can break down each problem into its parts to arrive at the root of the problem before recommending a solution. For example, a decline in profits for a coffee chain could be due to a supply chain issue resulting in unmet demand or even a poor marketing decision to cut back on digital spending. The solution to the problem will vary widely depending on the cause of the problem. 

At times, management consultants may have to work under tight deadlines while delivering the best solution, resulting in long working hours. However, reputed consulting organizations typically have strong processes in place to ensure that the work is evenly distributed among team members, weekends are protected etc. ensuring a positive experience along with a great learning opportunity.

Management Consulting vs. Corporate Finance roles – Selection between breadth vs. depth

Corporate Finance roles offer an equally exciting learning opportunity – however, they fundamentally differ from Management consulting in that they offer depth of learning on a particular topic and industry instead of breadth of exposure. For instance, a corporate finance role in Supply Chain Finance in an FMCG company may involve accurately forecasting production costs, streamlining production processes to reduce costs, and leveraging organization wide best practices. As you continue to work in the same function for a few years, you gain a very deep understanding of the function and the industry. Consulting assignments on the other hand typically are 2-12 months long and hence offer limited depth of exposure. However, due to the shorter assignment timeframe, it is possible to explore several industries & functions over a relatively short duration. 

Big 3 is great, but don’t stop your recruitment search there

Globally, the management consulting industry is dominated by 3 organizations, collectively known as the Big 3 – McKinsey & Co., Boston Consulting Group and Bain & Co. Even in India, these 3 organizations dominate the management consulting industry. Apart from the Big 3, however, there are several other management consulting firms including Kearney, Accenture (Strategy), Deloitte Consulting, LEK Consulting and KPMG Consulting. All these firms offer great learning opportunity 

Put your best foot forward to get recruited

One of the biggest challenges posed by the management consulting industry is the entry barrier for newly qualified CAs – most consulting organizations are very selective about who they hire and conduct a lot of diligence before hiring any candidate. 

After the initial Resume screening, consulting organizations invite shortlisted candidates for case interviews. In this interview format, candidates are given a consulting problem such as the one discussed at the start of this article.

Because the case interview format is new for most candidates, consulting firms typically appoint a “buddy” for each candidate – a buddy is someone who works at the organization as a consultant and will help you prepare for the case interviews.

During a case interview, students are expected to ask questions that will help them arrive at the solution. For example, in the case of declining profits for a coffee chain, candidates could start off by asking preliminary questions such as

1. By how much % has the profit declined? (To help determine the order of magnitude)
2. Are other players in the industry facing the same problem or is this limited to the specific company? (To help establish an industry-wide issue or company-specific problem)
3. What are the revenue streams for the company? (To help clarify whether the company also has significant alternate revenue sources such as in-store advertisement revenue, parking revenue etc.)

The interviewer will provide answers to most of the questions that are relevant to the problem.

Then candidates are then expected to deep-dive into the specifics of the company to unearth the root cause of the problem – did the profits decline because of a decline in revenue or an increase in costs or both. If it is due to a decline in revenue, did the no. of units sold decline or did the average sales price decline and so on. Using this approach, one is expected to pinpoint the exact problem & recommend a targeted solution. Interviewers are typically more focused on the structure & line of questioning than on the final recommendation you make.

There are a lot of great resources available to help you prepare for case interviews such as Case in Point (a globally acclaimed case interview preparation book) and Case Interviews Cracked (a book on case interviews in the Indian context – written by IIT graduates). 

Are you ready to take the plunge?

Management consulting as a career option can be a truly rewarding experience. If it aligns with your career interests, this is a profession that you should definitely explore. ENDS

PAISADUKAN PIVOTS INTO BECOMING INDIA’S ONLY PEER-TO-PEER RURAL LENDING MARKETPLACE FOR WOMEN

Mr. Rajiv M. Ranjan, Founder & Chairman, PaisaDukan

MUMBAI, NEW DELHI, SEPTEMBER 1, 2021 (TGN): Espousing the Gandhian praxis of Antodaya, Sarvodaya, and Gramodaya as a doctrine, which collectively connotes upliftment of the bottom of the rural stratum, Mumbai-based peer-to-peer (P2P) lending marketplace, PaisaDukan has stirred up a perfect last mile niche lending facilities in Bihar and other tier-2 & tier-3 townships of India.

In a first-of-its-kind move, PaisaDukan has rolled out a slew of P2P lending options for the populaces inhabiting in the credit-deficient rural hinterlands of Bihar as a pilot project, which includes Grameen loan, small business loans, Varishtha Nagarik Vittiya Samadhan (retirement) loans, Divyang Loan (disabled people), education loan, healthcare loan, pilgrimage loan, home improvement loans and  marriage loan

Traversing the rural landscape to uphold the cause of women empowerment, PaisaDukan is the one of the alternate credit facilitator in rural India to provide credit options to the relatively untapped women populace of Bihar’s Madhubani, Mujhapparpur, Sitamarhi and Darbhanga districts. It further aims to proliferate into other tire-II and towns in the country to offer financial support to small businesses such as brick-and-mortar grocery stores, standalone shops, tea & coffee kiosks, cluster building development, and to name a few,  informed Mr. Rajiv M. Ranjan, Founder & Chairman, PaisaDukan. 

“We’ve always grown based on adjacencies, and there are lots of opportunities in the rural areas of India for fintech adoption. Our rural lending module in Bihar today stands as a chronicle for the entire industry as we succeeded in creating an alternative lending grid by way of shoring up the techno banking realm in remote hinterlands,” he said.

Elaborating on the business prospects, Mr. Ranjan said: “The Pandemic did have some impact on our customers, both on the borrower and lender. The major impact was inflicted on rural borrowers because they were the ones who were rendered jobless during a pandemic. It comprised laborers like cooks, security guards, drivers who were employed in Delhi, Mumbai, Chennai and whose families were based in the rural areas of India. That’s where we faced some challenges in terms of recovery. There was about 10 to 15 percent delay in repayment of loans.”

“The rural economy is witnessing a steady recovery and is expected to be a major driver for the country’s revival in a couple of months. Although the P2P sector in rural areas grappled a complete halt during April-October 2020, it’s currently moving on an upward trajectory after suffering precipitous jolts of the pandemic-induced nationwide lockdowns,” he said.

“As a business strategy, between March-October 2020, we took a hiatus in our new lending initiatives to avoid any uncomplimentary business outcomes. Subsequently, post October 2020, we witnessed zero delays and zero default in the repayment since we commenced our operations post lockdown easing. Today, we are the only P2P marketplace in India to have 100 percent lending exposure in rural areas, with a customer base of around 2,500 spread across 750+ villages. Besides, our business has clocked a 75% percent growth during the current tremulous phase and Investors on our platform have received an average return of 15-18%.” he informed. 

In 2018, PaisaDukan received certificate of registration from the Reserve Bank of India (RBI) as a NBFC-P2P. As a P2P company, it offers unsecured/personal loan to individuals in relatively smaller amount, with rate of interest in the range of 12 to 20 percent per annum, without having to pledge of offer credit guarantee. The P2P lending structure of the company operates under Reserve Bank of India guidelines.

PaisaDukan’s current loan book stands at INR 150 million. However the company has planned to increase its lending wallet to INR 1,000 million in next 12 months, informed Mr. Ranjan. Ends

IDBI Intech implements its innovative Anti Money Laundering solution at Life Insurance Corporation of India (LIC)

Mumbai (India), 31^st August 2021 (TGN):IDBI Intech Ltd., the technology led business transformation organisation offering specialised solutions in the Banking, Financial Services and Insurance (BFSI) verticals has successfully implemented their iAML (Anti Money Laundering) solution at India’s insurance giant, the Life Insurance Corporation of India (LIC).

IDBI Intech is a dominant FinTech products and services organization – focusing on strategic niche digital transformations for it’s clients. 

IDBI Intech has made steady investments in the latest industry solutions for the BFSI sector, with cutting-edge technology, customer satisfaction and market demands as top priorities. The next generation technologies currently being leveraged include Blockchain, Cybersecurity, Artificial Intelligence and Machine Learning.

iAML will provide an Enterprise-Wide Single View of Risk & Compliance at transactions & customer level, harnessing Advanced Analytics, Workflow and Artificial Intelligence with a comprehensive set of pre-built rules and scenarios.

LIC Officials expressed their happiness to implement the software as it will help them upgrade their Anti Money Laundering reporting system. Acknowledging the trust and faith reposed by LIC in IDBI Intech Ltd., Mr. Surajit Roy, MD & CEO, IDBI Intech Ltd.said, “We are humbled at the opportunity to serve the nation’s oldest and most trusted insurance provider with our state-of-art Anti Money Laundering solution. It is an honour to be associated with LIC in their digital journey.”

With over 500 million policies and an overall asset base of over US$ 415 Bn (Rs. 31 trillion), LIC is one of the largest insurance companies in the world and has acknowledged  Intech’s Digital Transformation solutions by implementing its cutting edge iAML solution.

About IDBI Intech Ltd:

IDBI Intech Ltd. based in Mumbai, India is a niche Fintech products and services company specialising in business transformation in the Banking Financial Services and Insurance space. It is a part of IDBI Bank which is a leading universal commercial bank in India. 

www.idbiintech.com | @idbi_intech