Finance Ministry and the NBFCs

The news is in reference to the Special Liquidity Scheme(SLS), totalling 30,000 crores, announced as a part of the Aatma Nirbhar Bharat Package to support firms facing distress and in urgent need of liquidity. The core eligibility to avail the scheme is to be registered with RBI for NBFCs and National Housing Bank for HFCs. The Indian government acts as a promoter of the scheme while the execution is handled by SBICAP.

1. The Scheme was launched on July 1, 2020 permitting both primary and secondary market purchases of debt and seeking to address the short term liquidity needs of NBFCs and HFCs.

2. As an update from the Finance Ministry, 15 proposals under the SLS scheme have been sanctioned and 37 more applications seeking financing of up to Rs 11,037 crore are under process. 

3. Under the scheme, the government will provide an unconditional and irrevocable guarantee to the special securities issued by the Trust.

4. Since February 2020, liquidity measures announced by the RBI aggregated to about Rs 9.57 lakh crore, equivalent to about 4.7 per cent of the 2019-20 nominal GDP.

Both for the past and the future, Liquidity Injection has been a key tool for the Reserve Bank of India to provide relief to the companies. With the benefit of hindsight, the liquidity measures will help in significant lowering of interest costs for borrowers thereby resulting in effective transmission of lower policy rates and to repair the financial conditions.

Sales Talk for Effective Communication

Sales Talk is an art, art which gets better with continuous practice and constant improvement. Sales talk are an important Part of the Awareness, Consideration and Decision cycle.

Sales happen everywhere and everyone is selling something to improve their company balance-sheet. A balanced way to lead a conversation to sales conversion is different from person to person. At the same time it carries some key similarities to keep in mind the core KPIs and agendas of the Sales Talk.

The following are the key differentiators of a success-full sales talk.

#1 Exhibit Expertise in the area of selling 

A core knowledge of the sector, domain, product and the pain point you are addressing is the key contributor to any sales talk. You lead that you are conversing with should get to know that you know about the pain point and have the solution to help out with the same.

#2 List Common Challenges

Listening to your lead and addressing the situation helps a sales talk gain momentum. Properly defining the problem statements and situations faced by your lead. The listing of the challenges can help you drive the conversation to the closing situation in your own way. Old school methods of leaving out the challenges is out of the window.

#3 Engage with a Question

A Quiz is was more interactive than a boring lecture or a monologue. Try adding questions in the sales talk to get to know more about your prospect and the problems that they are facing. It also helps in the case of cross selling and up-selling of services.

#4 Focus on your product

In the end the main deliverable is the sales of the product that you are offering to your prospect/lead. So try keeping the core of the conversation centred around the product.

#5 Look at your marketplace

Current situations and the prevailing conditions give you an opportunity to customize your sales talk for better engagement and conversion chances. Rather than picking up any old example from the history ty focussing on the present and the future.

#6 Engage Immediately

As you see your prospect listening to your points, try to engage back with the prospect to drive the conversation further so that no one will feel left out in the conversation.

Goal setting for a S.M.A.R.T era

Nowadays, people work around the clock and still find themselves stuck at the same place time and again. This happens on a regular basis and happens with people of varied ages. Everyone wants to get. ahead in their lives and progress their careers further. 

The same can be done through incorporating S.M.A.R.T Goals in your life. By setting a S.M.A.R.T goal you take a step forward by clarifying your ideas, using your time efficiently, boosting your productivity and achieving your ambitions.

To make sure the goals are clear and reachable, they should be: 

1. Specific (simple, significant).
2. Measurable (meaningful, motivating).
3. Achievable (agreed, attainable).
4. Relevant (reasonable, results-based).
5. Time bound (time-based, time limited, time/cost limited, time-sensitive).

Lets dig a bit deeper into each section and try to break it into smaller and clear pieces:

• Specific: Your goal should specify what you want to achieve, it should at the same time have that importance to itself so that you don't ignore the goal. At the same time you need to keep in mind that what resources you are going to use for the same.

• Measurable: Your goal should specify the measure of its impact factor. How far you can go, How long can you stay on track and the most important how will you know when you are there?

• Achievable: A goal needs to be realistic and practical and at the same time should align with your ambitions. You need to know how will you accomplish that goal and what are the obstacles that you are facing in achieving your goal.

• Relevant: This part of the goals connects you and your priorities to the collective goal. Is the goal worth your time? You need to know when is the right time to start. Is the goals catering to your needs? Also you need to make sure that the goal relates to you in the best possible way.

• Time-bound: Time is the essence of life. You need to make sure that in which time period we can go ahead with achieving the goal. Also you need to time that in how much time how much proportion of the goal will be achieved. One step at a time.

So, in a nutshell, breaking down you goals in this way can help you perceive, receive and achieve your dreams better. S.M.A.R.T is way to go!

B2B & B2C Marketing

History has entitled us with numerous routes for business development. The Exchange of commodities is the stepping stone to business trade. Every business has it’s own growth and target vicinity. The basic categorization of the business statement can be stated through the culture of marketing involved. B2B and B2C marketing are the most amicable ways of defining a business.

Business to business marketing employs the sale of the sale of one company’s product or service to another company.To create valuable relationship with loyal customers is an important goal for any company. Business-to-business marketing has emerged as a discipline in its own right and divergences in marketing practice have been heightened. The current trends portray businesses aiming at improving the quality of operations. To promote product engagement and easy integration options with the future services is the motto of B2B marketing. Business to consumer marketing on the other hand is aimed at promoting consumption by directly targeting the consumer user base. B2C marketing strategies are focused on building immediate interest of consumer and converting it to sales. The first and the foremost contrasting feature in between the two marketing strategies is the transaction period associated with the two entities.

In B2B-buying, the purchasing process is more complex. Decision making groups include members from technical, business, financial and operational departments, depending on the type of purchase.With B2C, consumers buy products from you  and pay the same price as other consumers while B2B is much inclined towards dynamic pricing due to it’s  complexity of purchasing power. Customers who agree to place large orders or negotiate special terms pay different prices to other customers.B2C and B2B are also different forms of electronic commerce.

The basis if B2C is relatively simple when compared to B2B. Products displayed on website amalgamated with a method of recording customer details and a checkout pathway is a living example of simplicity of B2C  marketing.

B2B marketing on the other hand has a long time period of conversion into sales due to variance in the consumer purchase power and authority. In a nutshell, B2B marketing constitutes longer decision making processes, a substantial involvement of stakeholders with a longer relationship to maintain. A compact lead tank calls for a different type of product knowledge. B2C on the other hand involves shorter decision making processes,with a smaller number of stakeholders involved bears shorter relationships when compared to B2B.

When Communication is Skipped - Is there any gold in the sun?

“Once a Gold digger searched for some gold in the valley of the dark, and then he realised that he skipped the sun”

Every passing second the world wide web expands its reach while you jot down the things more prominent to your level of interests. As you were reading the above sentence the people on the other side collected more data on you. The next set of information that pinches your interest is a valuable metric for those who are measuring it right. The obvious question is should you use a detective to search for it or should you focus on every single entity out there; a rather tedious way.

To streamline this world has been introduced to Web Analytics. A way to gather and interpret such enormous amounts of information. In a nutshell, the whole web analytics process is a closed loop structure kicking off with Defining Goals, Building KPI’s, Collecting Data, Analyze Data, Test Alternatives and Implementation consecutively.

Web Analytics is critical for continuous improvement of the offered service, as well as for gathering useful business intelligence. Organizations have been upgrading themselves with web analytics and there are valid reasons supporting the cause out there.The three contribution standpoints are:

Kill False Assumptions

Every possible conversion is tested after a possible outcome hypothesis. Some may turn out to be good and some may not. Web Analytics plays a vital role in pivoting the decision in your favour. Test a lot, finalise a few and then test again.

Save you Time, Energy and Tears

There was a time when people will look through the huge phonebooks and then it got replaced by a inventory of content details on your mobile device. Same way is what any web analytics dashboard serving your needs. Contemplating the data as per your needs, filtering it to the optimum level. The process of going through a huge stack of uninterpreted data may be cumbersome and crushing. That way you it allows you to rethink about the world’s most expensive commodity- Time.

Allows to spot gaps in Opportunities and Ideas

Everyday multiple ideas can pop up in the thinking machine of the organisation. There is a thin line in between successful market prospects and time buying ideas. Web analytics employs the benefit of hindsight to roll down the best suited carpet for organisation’s progress.

Tackling the HiPPO ( Highest paid person in office)

There may be situations when any change opinion may fall into the cobweb of decision making process. Web Analytics becomes the saviour in those situations and provides a stronghold to you opinion in front of the Big Fishes of the corporation. Whether it be change onto your website or any product listing, web analytics can be a powerful tool to empower your opinion in front of the decision makers.

Thus Analytics revolves around the core concepts of digging out the most interpretive information out of the haystack of scattered data and the growth of any firm trying to establish an online presence and promote its products needs Web Analytics to be employed in the DNA.

 

The Art of Business Communication with Mr.Nikhil Kulkarni, Founder-techdarwin.com

 As the power of the Internet enables people to know about any new place at the click of a button, instantly look up and book travel related services (Hotels, Cabs etc.); the travel industry is grappling with the rise of this Silent traveller. But does the silent traveller have the right tools to plan and book their holiday. Do they have access to quick and agile services which are also personalised and use the power of analytics and digital to empower their decisions? Darwin Tech's mission is to enable with its tools to do exactly this!

- Nikhil Kulkarni, Darwin Travel Tech

Business Communications with Mr. Nikhil Kulkarni

On 18 August, 2020,  Founder of Darwin Travel Tech interacted with the new Nitizens sharing his life experience, learnings and the art of Business Communication. The main agendas of the discussion included:

1. Business Communication- An Art the Industry loves!
2. Content Architecture- Pyramid Principle
3. Impact factor- Hear what i say!
4. Personal Brand- Your best investment.

Mr. Kulkarni emphasised on the practical feasibility and necessity of Business Communication and discussed with examples from his stint as a Associate Director at KPMG. A career is like a perfect lap of a race, relationships and communication take you a long way. He also elaborated the importance to learning advanced levels of Microsoft Word, Excel and Powerpoint, a superpower indeed. 

Explaining the core of business communications, he emphasised on the briefing patterns used as per different requirements. He explained the grammar of business content curation using the Pyramid Principle. The following boxes need to be checked to ensure optimum content delivery:

1. What is the objective of my document?
2. Who is the audience?
3. What is the context in which this content will be consumed?
4. Have i listed all aspects of the problem?( Including the MECE approach)

Mr. Kulkarni described the secret to smart and relevant content communication with the hierarchal method of structuring and organising ideas and supportive evidence while incorporating Mutually Exclusive and Collectively Exhaustive methodology and Idea-Data-Fact-Logic Methodology.

Also mentioning the importance of maintaining a personal brand in the Industry 4.0, he discussed about the opportunities, channels and scope of a successful personal brand. 

More Learnings, More Communication !

A special thanks to Dr. T. Prasad, NITIE Mumbai for giving the batch of 2020-22 an opportunity to learn the art of Business Communication.

Launch of Swadesh Mandi 2020- एक शुरुआत

Every year, NITIE Mumbai organises a unique annual event called Mandi. Brainchild of Dr. T. Prasad, the event aims at imparting practical skills for business communication, marketing, economics and much more. With this event, students implement their theoretical learnings in the practical world.

This year, on the occasion of the 74th Independence Day, the MahaMandi 2020 event was launched. As a part of the opening ceremony, Shri Abhay Jere, Chief Innovation Officer, MoEd, GOI and Ms Apeksha Haldia, Founder Zayka ka Tadka, NITIE Alumnus shared their learnings and experiences with new NITIZENS.

Shri Abhay Jere, emphasised on the prime minister's vision of Atmanirbhar Bharat. He advocated the role of the local products helping us out at the time of lockdown. He advised students to be thing beyond the normal, create, envision and implement. 

With Swadeshi Mandi 2020, aiming to promote the local USPs of the market, the much needed guidance and advise form Shri Abhay Jere serves as a confidence booster in the times of COVID-19.

Representing the Indian Entrepreneur circle was the founder of "Zayka ka Tadka" Ms. Apeksha Haldia.

Ms. Haldia shared her learnings along the entrepreneurial journey, the obstacles, the fun and brought to us a practical example of hoe innovation can be found anywhere. All it takes is the will. She reiterated the importance of following one's passion. 

With Swadeshi Mandi 2020, the learnings that the students can achieve now hold an even more importance, as the uncertainty and market volatility teaches us to be prepared and vigilant. Becho...Socho...Seekho!

For more info:

Visit MIG page: https://www.facebook.com/mig.nitie/

Zyaka ka Tadka: https://www.facebook.com/Zaykakatadka 

Time for India to go Global!

A Tribute to the Voice of the Local- Swadeshi Mandi

 

The purposes of Communication are: to inform, to express feelings, to imagine, to influence, and to meet social expectations. For years Business Communication has been taught as a theoretical subject in almost all B-Schools. To the contrary,  Dr Prasad Teegalapally, bring along with himself a practical and interactive way for learning, understanding and accepting Business Communication as a skill for life.

"Communication is Practical "

 With the aim of instilling practical guidance and market exposure, National Institute of Industrial Engineering (NITIE), Mumbai and the Marketing Interest Group presents " MahaMandi 2020 || Swadeshi Mandi". This year it's focussed on promoting the Local products of various regions to scale them up to the world level and to gauge the attention of the business ecosystem.

What do you think, Dehradun is famous for?

Hills?

Resorts?

Weather?

What if i told you that you can find some of the best baked products to compliment your taste buds there?

The bakery markets of Dehradun conserve an original taste and aroma of their own. In the era of adulteration and sub standard quality, the Doon valley still stands as a guardian for the baked products.

Be it Ghosi Galli, Rajpur Road or Kaulagrah road and many more, the originality of the baked products can easily overwhelm you. So, as a mission to promote the "Original Baked" of the Doon Valley, we at this MahaMandi 2020 bring along with us a souvenir of the Local that deserves to be Global.

This Independence Day, Local goes Global!

The Purpose of Life

 “To see the world, things dangerous to come to, to see behind walls, draw closer, to find each other, and to feel. That is the purpose of life.”

  -The Secret Life of Walter Mitty

The above excerpt from the movie The Secret Life of Walter Mitty can be easily decrypted to define Life itself.The first line says “To see the world”- this describes the importance of a being being a small quantity when compared to the rest of the world . Seclude in our humdrum lives we often don’t look outside the window of realization. Travelling the world is one way of seeing it but observing adds up only when one travels through the soul.

“Things dangerous to come to” ; defines the reverbs of the ocean of soul. The ocean tries to stay in an equilibrium to be in an easy state. A little disturbance to it affects the subconscious and triggers the waves of obstacles.All you need is a boat of determination to surf through this.

“To see behind the walls” ; displays the unlocked potential of curiosity in life . Be it health , Be it prosperity ; everything is interlinked. All it needs is a step by step ladder of asanas. What lies through the ocean and beyond the wall is a new perspective to happiness ,free from the shackles of materialism.

“Draw closer” ; the blissfulness of life, health, serenity and peace of mind. It’s inevitable to have moments of stress but happiness comes without a subscription. Like a platter it’s on you to choose what you want to have.

“To find each other and To feel” ; with clear conscience comes better communication and thus better relationships. Be it your country, workplace or your home ; the mode of communication is through the synchronization of brains.

How do I find my purpose in life? This is a huge issue for the folks if you are always looking for and stressing to determine their purpose. What we come to learn is that we cannot go looking for our purpose, we have to allow our purpose to find us. And I believe that when we are rooted in what we loved to do, and rooted in what makes us happy and inspires us is where we start to get clear guidance and directions towards what it is we meant to do.

Give Time Some Time

 Time is an entity of the supreme. Each day of life is a labyrinth of infinitesimal moments that contribute to our experiences. The first thing that pops up in our conscious map is the Wall Clock.

Owning  a clock is trivial but time isn’t a commodity. Hence it belongs to the Supreme.

To be a step ahead from others is the motto of success in life but when applied to the real life can lay the opposite effects. Our bodies are composed of well timed organs with their own clock that lies deep in the pool of our subconscious brain. The crowd nowadays criticizes every method of healing on a time bound scale . The one which works the fastest is the most prefered by us but not by our subconscious.

Life has a mind and momentum of it’s own,and the criterion for this saying is Time itself. Everyday before going to bed we train our conscious mind to change a certain portion of our life. But keep failing the next day. To know the secret of success you should first lookout for the secret of failure.

This piece of writing here focuses on the secret to failure , CONSISTENCY. My trials with yoga failed in the beginning because i focussed on the results and not on myself. With this i tried to outrun time with short term benefits at foresight.

Every asana i did was gave me strength but not satisfaction and thus  the loss of track down the road was inevitable. Perseverance when mixed with determination leads to consistency and thus improved results from the inside. Thus i gave myself a retake and tried it to loose the track of Time. Now with every asana i forgot to look for the results and did it for my subconscious by not trying to tame the time but to obey it . Time has it’s own beauty and thus it’s own way to appeal to you. The whole point is to let you know that walking is always easy than running. Yoga gives you time without a dime. Hence, every successful result lies in the fact that time will run it’s own clock to serve it’s purpose and it comes only when you give time some time to run it’s own course.

Time is not a commodity but an achievement of the worthy through still determination and better amendment of the life’s rulebook.

Wynk Music and the New Era of Beta App Testing

On 28 March, 2019, Wynk Music app opened the confined gates of App development to its 

users, marking the beginning of an unconventional way of App Testing.

As Wynk users launched the app on their mobile devices on the morning of 28 March 2019, the first pop up after the splash screen was the happy to go lucky message prompting users to come be a part of the beta testing campaign. The out of the box decision of Wynk kindled different otherwise ignored app engagement criteria;

·     The sense of being a part of the ‘Wynk Clan’

We use a bunch of apps everyday especially when it comes to entertainment. The clash of the Hungama, Ganna and Airtel Wynk is quite top notch and soothing to see.

“When Wynk invited their users to be a part of the Beta Testing clan, it provided a unique “belonging” experience to the users, the users could have their pie and eat it too.

·     Never before User Behaviour Testing experience

Post launch app user behaviour testing is a cliché thing for Wynk now. The recent Beta Test launch initiative enables Wynk with a pre-App-live insight, what works and what doesn’t is the best known when asked.

·     Are you in the Test Team A , B or C……..?

In 2017 Wynk crossed the milestone of 50 million app installs and became a key player of the mobile entertainment industry. With the benefit of hindsight I expect the wynk team to have divided a set of users in different clans as per different metrics, time spent on app, upgrade frequency, language preference and maybe the profile portal clicks in the App. All this is to pre validate the data and test the hypothesis of unconventional beta testing.

In conclusion, Wynk has opened the long closed gates of app development contribution to the users. The next thing to follow will be to see what other apps will pickup this idea, industry wise. Also, what do you think Wynk is trying to unlock? Is this Wynk's Skylab?