Laksh Gangwani

DETAILS on the raising of Central Provident Fund (CPF) contribution rates and liability for work-injury compensation under upcoming platform-worker protections were given in Parliament on Monday (Sep 9). This was during the debate on the Platform Workers Bill, which implements these protections. The debate was adjourned and will continue on Tuesday. If passed, it will give platform workers – which include ride-hailing and on-demand delivery workers – the same levels of work-injury compensation and CPF contribution rates as regular employees, with increments gradually stepped up from Jan 1, 2025.

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I am proud to share that our Founder and Chairman, Mr. Himanshu Maradiya, has been featured in an insightful article by Zero Accel! 🚀 He discusses Bitcoin’s potential growth factors, from adoption and ETFs to weakening fiat currencies and mining profitability. 📈 His thoughts were also referenced in a Forbes article on Bitcoin’s future. Exciting times ahead for the crypto community! 💡 Read the full article here: https://lnkd.in/dJzKkKJE #Bitcoin #BTC #Crypto #Blockchain #CIFDAQ #Growth

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What do you think of mutual funds with traders mindset: Sebi suspects front-running in Sandeep Tandon-owned Quant Mutual Fund; conducts search and seizure operations https://lnkd.in/gEQFPn2s

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*News Headlines from Business News Agencies:* *Business Standard* 📝 Ficci appoints Jyoti Vij as new director general with immediate effect 📝 Steel demand expected to grow in range of 9-12% in FY25: Ind-Ra report 📝 IBBI proposes reducing compliance burden, simplifying forms for RPs 📝 Persistent Systems partners with Google Cloud to drive GenAI in key markets 📝 Trade and industry bodies in Rajasthan call for creating solar energy hub 📝 NCLAT asks ICICI to consider OTS proposal in Jaiprakash Associates case 📝 Exports from special economic zones up 4% to $163.69 bn in 2023-24 📝 Tata Motors planning to invest Rs 18,000 cr in EV division till FY30 📝 Micro loans grow 27% in March quarter, stress levels inch up: Report 📝 Daimler India names Muthu Maruthachalam as new chief of ops, logistics 📝 India reports sixth strongest hiring outlook globally in Sept qtr: Survey *Economic Times* 📝 HCLTech, Germany's apoBank extend ties with $278-million deal 📝 OPEC sticks to 2024 oil demand growth forecast, but trims Q1 view 📝 PV sales up in low-digits as growth pace moderated in May: SIAM 📝 Star Health & Allied Insurance plans 15% price hike for two products 📝 India eyes oil deals with nations including Russia, minister says 📝 Waaree Energies supplies 68 MW solar modules to Gensol Engineering 📝 Tyre exports from India recorded at Rs 23,073 cr in FY24 📝 Magenta Mobility joins hands with with Tata Motors, deploys 100 Ace EV 📝 Tata Motors eyes 4-6% increase in passenger vehicle market share over the next 2 to 3 years 📝 MyGate founder Vijay Arisetty joins Aurm as founder and CEO 📝 FIDC urges RBI to relax draft guidelines on infrastructure provisioning *Mint* 📝 SBI says MSME loans will be focal point for growth over next 5 yrs 📝 Berger Paints plans retail expansion to grow in south, west India markets: CEO 📝 Ola Electric gets SEBI nod to launch ₹5,500 crore IPO: Report 📝 VaynerMedia sets up full-service ad agency in Gurugram, lured by India's economy 📝 Zomato to pump ₹300 crore more into quick commerce arm Blinkit 📝 SBI to raise USD 3 billion through debt in FY2025 📝 Warburg Pincus, Multiples PE enter final lap to acquire stake in Ebco 📝 Private credit to real estate, UTI Alternatives embarks on a fundraising spree 📝 Not just Air India, most airlines have a long-haul punctuality problem 📝 India's semiconductor industry to face 300,000 professionals shortage by 2027 📝 RBI rejects reappointment of RK Bansal as Edelweiss ARC chief For information only

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Users of cheques will have two new electronic payment methods from mid-2025 as part of Singapore's move to gradually phase out corporate cheques. The two methods will allow deferred payments or post-dated transactions — a key feature of cheques. A post-dated cheque is one that is written with a future date indicated on it and used by businesses in payments. Individuals and companies can use the upcoming electronic deferred payment system EDP and EDP+ via the digital banking platforms of seven banks. They are DBS, OCBC, UOB, Citibank, HSBC, Maybank and Standard Chartered Bank. https://lnkd.in/gM3d9rdB

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Interesting pannel discussion at the Digital Trust Hui. The question asked was "How does the pannel see the Framework playing-out?" A key response was that the Act will never work in isolation. Industry by industry use-cases are providing the specific experiences that can be used to drive the roll-out of the new standards.

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Excited to announce Ed Metzger from LexisNexis Risk Solutions will be speaking at this webinar on decoding Southeast Asia's cross-border revolution alongwith industry leaders Kah Kit Yip Samarth Bansal Cher Hao Low. Join us to learn about the latest trends and developments in cross-border payments. Register now #Webinar #CrossBorderPayments #Fintech #SoutheastAsia #DigitalPayments

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Singapore: Guidelines on fair dealing – Board and senior management responsibilities for delivering fair dealing outcomes to customers The Monetary Authority of Singapore (MAS) issued the revised Guidelines on Fair Dealing — Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (“Guidelines“) on 30 May 2024. This comes around 17 months after the MAS issued the Consultation Paper P013-2022, which proposed amendments to the Guidelines on Fair Dealing. The amendments widen the scope of the Guidelines to apply to all financial institutions (FIs) in relation to all products and services offered by FIs to users and prospective users (“Customers“), and introduce additional principles and guidance for selected areas. While the Guidelines are written primarily from a retail Customer’s perspective, MAS expects FIs to apply the principles to all Customers and consider how best to achieve the outcomes in a proportionate manner. Read the full alert at https://lnkd.in/gcaxwddQ

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#NRFAPAC is a wrap. This was my first experience of NRF and it was an educational and an overwhelming experience for me. Here is what I learnt (based on what I saw on the show floor and my conversations with Retailers and Partners): 1.    The sheer number of technology providers for the retailers are growing at an enormous pace. Their business also seems to be growing means that  Retailers are adopting technology at an ever-increasing pace.  2.    I saw a lot of interesting innovations targeted for in-store efficiency and improving customer experience.  3.    Adoption of AR / VR tech seems to be still in the early phase but seems to have found some footing among high end, high ticket value retail.  4.    The number of vendors providing solutions for self-checkout indicates to me that deployment of this tech is growing fast. 5.    AI use cases that I saw were all revolving around writing product descriptions (and thereafter creating social media content), customer service or digital shopping assistants and employee engagement (knowledge dissemination).  6.    Interestingly, I did not see any interesting use of AI / ML on the supply chain, operations, procurement or finance functions.  7.    The presence of e-commerce platforms was still front and center indicating to me that this is still a priority area for many retailers.  8.    Promotions management still seems to be an area of focus, as is loyalty management. I am surprised that not many Retailers have cracked a good loyalty program 9.    Almost all my conversations with Retailers indicated that most of them are seeing a downturn in their business in the past 3-6 months. All of them were still struggling with having a good data governance model that could put them in a position to leverage the advancements in ML and AI.  10.  Performance marketing is still front and center and we are starting to see some good success stories emerging. This is still not as common as I thought it would be in organisations. SAP Amazon Web Services (AWS) Achim Schneider Bharani Krishnan Joerg Koesters Deepak Krishna Patsy Wong Klaus Boeckle Mukesh Kumar H. Hakaru Morikawa Erica Low Sophia Pereira Silvana Tagand Will Wilson Katy Doran Peter Bray Grace Yio Steve Nijjar Whye Loong Wong Kaylie Wong Clinton Mottram Neetha John Peter Moore Sotis Dramalis Jaehyeon Bae Rahul Padgaonkar Yasmin Awad Mandavi Singh Ranjan Sharma Karthik Kuppusamy Madhav Nishtala Shobhana Lele Binod Negi Tanuj Vijay Rajiv Ranjan Singh Vineeta Bathija Anil Dogra Ben Nottle Eileen Chua Sebastian Chia

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As we move into day one at #Singaporefintechweek its interesting to see what was hot and what was not at money 2020 stateside. I wonder if these topics and trends will continue here at the Singapore FinTech Festival Article: https://lnkd.in/gnSGitNX As a quick summary there were 5 key areas 1) #AI - both UX engagement and utilising it for KYC and credit decisioning. 2) Embedded finance - which as a distribution method is incredibly valuable for other platforms to offer a value add to their customer base 3) Rise of stablecoin - especially for access to USD in growth markets 4) Climate finance -tradfi tech and economics with sustainability in mind 🇺🇸 Frank T. Troise 🇸🇬🇨🇭 Vincent Choi 5) Fintech cooling - single purpose businesses continue to struggle. Generic lending platforms are increasingly struggling to capture customer attention. Great to see CrediLinq.Ai mentioned in despatches in Forbes via one of our awesome investors 1982 Ventures related to #embeddedfinance. Deep Singh Vikram Kotibhaskar As a final reference point, it was also interesting to read the thinking about how to win - that financial services providers need a strong, differentiated value-proposition and that the main need of access to credit and cashflow for the majority of the population – both consumer and SMB is still and will be increasingly important. Its why im here with team CrediLinq.Ai! Lets go. Dinesh Singh Vishakha Ahuja Deighton Sear Benjamin Hills Vikram Parikh Priyan Fernando

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💡 Budget 2024 to Backstop an Already Compelling Story, Says Radhika Rao of DBS 💡 As we approach the final budget for FY25, three key developments are shaping market expectations: 1️⃣ The government has accumulated a significant revenue buffer, bolstered by robust direct and indirect tax collections. 📈 2️⃣ A record-high surplus transfer from the RBI amounting to Rs 2.1 lakh crore (~0.6% of GDP) for FY24, far exceeding last year's Rs 87,400 crore and the budgeted Rs 85,000 crore, adds to this fiscal cushion. 💰 This unexpected windfall provides an opportunity for the government to potentially reduce the full-year deficit from the targeted -5.1% of GDP for FY24. However, its impact will depend on whether this surplus is primarily used to strengthen fiscal consolidation or to cover increased spending commitments and any shortfall in divestment proceeds. ⚖️ As we eagerly await the final budget for FY25, these developments hint at a dynamic fiscal landscape ahead. 🌟 #Budget2024 #FiscalPolicy #IndianEconomy #MarketExpectations #RBI #TaxCollections #FiscalConsolidation #EconomicGrowth

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https://lnkd.in/gDZ54C9E Interesting insights here, with some interesting data points from a study by Deloitte into Portfolio Management

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Allen Cheng Joe Pan Sharan Kaur Phillora Anjali Kochhar Shubhii Verma We at NFTMetta.com have rebranded. Our new name is Blockwind.news. While we focused a lot of our attention on non fungible token markets in the past year, our primary passion always has been on global blockchain markets, which has been the driving force behind all financial innovations in the past decade. Given our broader interests in blockchain developments, we made the decision to rebrand. We chose “Blockwind” because it reflects the winds of change that are taking place in every facet of our global markets and geopolitical environment. We added “news” because that is our primary way of communicating the fascinating and fast changing trends gripping our world today. Our mission is to be a leading global media platform dedicated to explaining, analyzing and promoting financial technologies and innovation in the blockchain world, including crypto currencies and all things related to Web 3.0. Furthermore, our correspondents will also pay close attention to the latest global regulatory efforts to crack down on scams and to regulate digital currencies. We will continue to be strategic partners with Hong Kong-based Impact NFT Alliance, an industry group that promotes impact investing in global NFT markets, and which has appointed Blockwind.news as its formal media partner. As we noted last year when we launched, our world is currently facing tremendous volatility, not seen since the global financial crisis of 2008. At that time, leaders of global markets and sovereign states all over the world — irrespective of development phase they were in, or their political system — whether “democracies” or “authoritarian states” — came together to work in alignment of one purpose: arrest the panic, particularly panic caused by the near catastrophic collapse of US markets and those across Europe, and to create a safety net in terms of coordinating currency and central banking policies that united the world, both so-called industrialized nations and developing nations. The global geopolitical environment of 2024 is altogether different. This year comes on the heels of year after year of natural disasters caused by global climate change, a three-year pandemic caused by the emergence of the Covid 19 virus. We are seeing rising trade, political and even military tensions between the collective industrialized West led by USA, the world’s largest economy, and the emerging markets, led by China, the world’s second largest economy, and energy and commodity rich Russia, both of which are seemingly committed to challenging the economic, financial and political dominance of the collective West. It is clear that the industrialized nations can’t seem to agree with developing nations led by China and Russia, and this tug of war will certainly be a major force driving trends in the blockchain world.

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At Ingenico, we are committed to continuously learning from each other and always keeping our customers at the heart of everything we do. Our Customer in Focus sessions are a great example of how we stay connected to what truly matters—understanding our customers' needs, challenges, and goals, and using that insight to drive better solutions. These sessions are all about learning in the flow of work and ensuring that customer-centricity isn't just a goal, but a core part of our everyday actions. #CustomerFirst #ContinuousLearning #CustomerInFocus #LearningInTheFlow

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#Protean's initiative to launch the 'Apni Kahani Ka Hero' campaign is a bold and refreshing move in the digital public infrastructure space! While it's indeed unusual for such products to adopt advertising, this campaign seems to go beyond promoting a product—it tells a story of empowerment, innovation, and inclusivity. Building a stronger digital ecosystem requires not just robust solutions but also relatable narratives that inspire adoption and trust. Kudos to Protean for leading the charge in bridging this gap. #DigitalTransformation #Innovation #IndiaStory #PublicInfrastructure #ApniKahaniKaHero"

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Great Start to the Privacy Week in Singapore yesterday! Sharing some key takeaways, insights and 'A-Ha' moments. Part 1: Inaugural address by Singapore's Minister for Communications and Information Josephine Teo: - Singapore's approach to AI and the challenges around governing it: 'Proactive, Protective, Pragmatic' - In keeping with the above objective, the Singapore government has been putting out usable frameworks and guidances. The recently released 9-dimensional AI governance framework is one such example. Others include a AI Verify Toolkit released for testing - In the Pipeline: (1) Safety Guidelines for AI Developers (2) Support PETs in AI - to protect Personal Data. Guidelines for Anonymisation have already been released while guidelines for Synthetic Data Generation were released yesterday (3) Harmonisation of Standards across countries. An ASEAN guide on data anonymisation is to be released soon Panel Discussion 1: 'Navigating the Crossroads - Where AI and Data Protection Converge' Skillfully moderated by Shameek Kundu with eminent panelists @Jessica G Lee, Jason Tamara Widjaja, Irene Liu and Denise Wong. Key Points: - Good AI needs Good Data. Key is to enable this by harnessing data PLUS protecting individuals. It is not an 'OR' thing, has to be an 'AND' thing! - Build 'layers of safeguards' at every step of the organizational AI value chain. - 'Traditional' tools like PIA/ AI Impact Analysis dont work with Gen AI. A holistic approach is required. - Gen AI cannot be restricted to specific 'use cases' within an organization. So no point attempting to go down that direction of deploying controls. - Going back to first principles helps. Focus on guardrails that are 'appropriate, proportional and adequate' Panel Discussion 2: 'Defenders to Architects: Supercharging the Role of DPOs' Wonderfully moderated by Zee Kin Yeong with very articulate panelists Derek Ho, Barbara Cosgrove, Amos Tan and Chris Ng . Key Points: - DPOs need 'hard' technical skills and domain knowledge for sure. However, the 'soft skills' are what ultimately determine effectiveness. - Most Imp soft skills: (1) Being able to be heard and (2) Being able to effect change - Translates into being able to 'tell a story', 'Collaborate, Convince, Cajole' - Leverage 'force multipliers' (a) Within the orgn (work with adjacent teams, individual champions embedded across the orgn) and (b) Outside the orgn (communities of DPOs, for eg) - Don't become the 'Dept of NO' to your orgn. Instead, reframe your responses to 'Yes, if you do ***'. With my head bursting with ideas after a session like this, little wonder that am grinning away! Picture Courtesy Aparna Pathak #pdpweek2024 #pdpc #AIGovernance #AIRisk #Privacy #PersonalData #APF24 #DataPrivacy

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