👀 The Week At A Glance
This week we talked about a lot of exciting startups, the RBI's rate hike and more.
We began this week with a topic very close to our hearts: napping. And we ended it with something that is going to impact each and every one of us: RBI's interest rate hike. Catch up with all this and more in just 5 minutes!
😴 Putting the Power Back in Power Naps
Taking naps is the perfect way to boost your midday productivity. And this is not just some tale that our moms tell us. It's proven by NASA. But taking these naps can be a pain in the back, especially if you're travelling. But don't worry, a startup called NapEazy has the perfect solution for naps on the go. Want to know more? ReadOn!
🧐 India Gets its First Semiconductor Plant
Over the last year we've all discovered what semiconductors are: those tiny chips that keep our electronics working. These chips have been in short supply due to the pandemic, the Russia-Ukraine war and more. India particularly has been facing a problem as we're 100% dependent on imports for semiconductors. But that's changing: we've finally gotten our first semiconductor plant. Why did it take us so long though? ReadOn!
🏦 Can Startups Take Banks Far and Wide?
Over 80% of Indians have a bank account but half of these are lying unused. Why? Because people living in rural areas simply don't have access to banks. But startups and fintechs are trying to change this. How? ReadOn to find out!
🚗 Who's Winning India's EV Race?
Indians may have had a lot of issues with EVs but the recent rise in oil prices has forced many to embrace EVs. And one company is ruling this space: Tata Motors. Here's how it got ahead of other automakers in the EV game despite them having a head start.
🎮 Making Video Games More Inclusive
The $300 billion video game industry has a major problem. It works on the premise that most gamers are boys. So, hardly any games are created with female gamers in mind. One startup is trying to change this. Here's how.
📈 Decoding RBI's Interest Rate Hike
RBI's recent interest rate hike has caused a lot of frenzy in the stock market. But don't worry. We are here to explain the what, why and how behind this move. Here's our in-depth explanation about how this hike will impact you and the economy.
🗞 Here's What Else Made the News and Moved Markets
👉🏻 India finally has its 100th unicorn: a neo-banking startup called Open. The $1bn valuation comes after it raised around $50mn from existing backers like Tiger Global. The neobank (a completely digital bank) works with over 2.3mn medium and small businesses, who find it difficult to deal with ordinary banks daily. It processes over $30bn worth of transactions annually. The startup has partnered with over a dozen banks and is now also offering them its banking stack as a service, helping them go digital.
👉🏻 Adani and Reliance didn't just rule the headlines this year, they also made stellar profits. Adani Wilmar reported a revenue of Rs. 54,214 crores, a 46.2% jump since last year. With this, it outshone HUL (top player in FMCG for years) and became the largest FMCG company in India. This was primarily driven by its edible oil business, and it will now focus on inorganic growth via strategic investments. Meanwhile, Reliance became the first Indian company to record a revenue of $100 bn. It also saw a 22.4% jump in net profits and a 47.5% growth year-on-year for Jio.
👉🏻 The Delhi government has announced a new Delhi Startup Policy which will form a 20-member task force of CAs, lawyers and professionals who can help budding entrepreneurs. It'll also set up a panel to help founders with the trademark registration process. What's more, it will also give collateral-free loans and pay part of the rent and salaries. College-going entrepreneurs will also get leaves to focus on their business. If implemented well,this policy could very well keep Delhi as India's startup capital for the coming years.
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Team ReadOn ❤️
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