In this article, top business news will be added so that you can get all the news in just one article. Kumar Mangalam Birla, Ketto’s Varun Sheth, Billionaire Uday Kotak, Government backed scheme.
So, without wasting any time let’s deep down in all these important business updates buzzing in the market.
Table of Contents
Kumar Mangalam Birla Said, “Long-Term Vision And Scale Is Necessary For Business.
Kumar Mangalam Birla, chairman of Aditya Birla Group, said while speaking at the Hindustan Times Leadership Summit (HTLS) 2024 that scale is crucial for businesses to survive in this competitive landscape and acknowledged that scale is not only a factor for success but often becomes decisive one.
We took 36 years to establish a 100 million-tonne cement business, and in the next five years, we reached 150 million tonnes. In the upcoming five years, we will reach 200 million tonnes,” he said. Birla’s Ultratech has a consolidated grey cement capacity of 156.06 million tonnes per annum. He emphasized how longevity and scale have become defining principles for the Aditya Birla Group.
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Meet Man Who Started With Just Rs 10 Lakh And Turned It Into Rs 70 Crore Social Enterprise.
Varun Sheth, founder of Ketto, built a Rs 70 Crore crowdfunding empire for an impact but started it with just Rs 10 Lakh. He prioritized impact over profit and his goal was very clear from the very start, he said,” We wanted to create a platform which not only supports charitable cause but also ensures sustainable growth”.
Sheth’s social impact idea kept him motivated despite the difficulties of starting in an unusual niche. Ketto was founded to solve societal problems and since then has become prominent for societal welfare, changing lives and generating money for important organizations.
Building a startup in the social sector was tough. “Team building was a constant struggle,” Sheth admits. With limited resources, attracting talents from premier institutions required simplicity, and maintaining optimism in tough times was important. When one leads, one must be positive, as the entire team runs on that energy, ” he explains.
Raising funds for one ambitious student from Mumbai who wished to study in the United States was one of the remarkable campaigns on Ketto’s platform.
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Billionaire Uday Kotak Concerned On Quick Commerce Growing Threat For Local Retailers.
While speaking at an event hosted by CNBC TV18, Billionaire Uday Kotak showed concern about quick commerce’s growing threat to local shops, stating that it may turn into a political problem. Although it’s getting incredible growth in India, in other nations, it is turning into a bigger threat for regional retail companies.
The rapid growth of platforms like Blinkit, Zepto, and Swiggy Instamart could disrupt the retail landscape. “This is a challenge to local retailers, and this challenge will eventually come to the political front, ” Kotak said.
According to the prediction, this industry will see rapid growth with a $40 billion market size by 2030, up from $6.1 billion in 2024. The comments come after the Swiggy Instamrt’s successful IPO debut on November 13, which saw a 17 % premium.
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Government Backed Scheme: Earn Rs 9000 Per Month From This Scheme.
Government-backed investment is known as a safe investment option. Post office monthly income scheme (POMIS) can be good for anyone who wants financial stability, whether you are planning for retirement, supplementing your income, or growing your savings.
POMIS is a government-backed small saving plan designed to provide guaranteed monthly payouts. Minimum deposits: Rs 1000 or in multiples of Rs 1000. Max deposit: Rs 9 Lakhs for a single account and Rs 15 Lakhs for a joint account. It’s a 5 years saving plan.
POMIS is offering an interest rate of 7.4 percent. Individual adults must have a single account, a joint account up to 3 adults, guardians on behalf of minors or individuals with unsound minds, and minors above 10 years can open accounts in their name. All these people are eligible for this scheme.
Your monthly payout will depend on your deposited amount which you can calculate using the below formula,
Formula: Monthly payout = deposit amount×interest rate÷12. Examples: A Rs 5 Lakh investment will give a return of Rs 3,083 per month, Rs 9 Lakh will return Rs 5,550 per month, and a Rs 15 Lakh investment will give a return of Rs 9,250 per month. This ROI will be fixed for 5 years of tenure.
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Disclaimer: This scheme is on you whether you want to invest in it or not. Please don’t just follow us, we are just to provide information about this scheme. Do your research to make an investing plan.
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