What is ‘ONDC’ initiative by GoI.

To reduce the dominance of e-commerce giants like Flipkart and Amazon, the government rolled out its big initiative — Open Network for Digital Commerce (ONDC) — for public in Bengaluru. With the help of ONDC, government plans to help small retailers and create an alternative to dominant global giants like Amazon and Walmart, who controls over half of India’s fast-growing e-commerce market.

The platform aims to create new opportunities, curb digital monopolies and by supporting micro, small and medium enterprises and small traders and help them get on online platforms. It is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry.

The government says existing platforms work in silos and are tightly controlled, keeping out many small players. It expects ONDC to increase competition and foster innovation by start-ups.
It also hopes to bring in logistics firms and others who can collaborate with sellers to deliver products to customers.

The focus would be on small merchants and rural consumers, with apps in Indian languages.
ONDC officials liken the network to a mall with 1,000 gates instead of just two, thereby limiting opportunities for selected sellers to receive preferential treatment – a common accusation against major e-commerce companies. Users will be able to rate service providers on ONDC, which will be applicable and visible across the network. The government says ONDC will help to end “predatory pricing, especially in high-margin, high-value products”. Amazon and Flipkart deny that they have engaged in predatory pricing.

How does ONDC work?

The ONDC platform lies in the middle of the interfaces hosting the buyers and the sellers. So far, the buyer side interface is being hosted by Paytm, whereas the seller side interface is being hosted by other players like GoFrugal, etc.

When a buyer searches for an item on the Paytm app, from where ONDC has gone live, the app will connect to the ONDC platform, which will connect it to seller side interfaces that will list all the companies from where you can buy the particular item.

On ONDC, there will be several other backend partners such as logistics service providers, enterprise resource planners, e-commerce store hosting service providers, etc.

Experts sees a strong consumer spending this festive season.

Coming out of the pandemic, consumers in India have expressed a strong desire to buy more discretionary products during the festive season, according to Deloitte’s Global State of Consumer Tracker.

Deloitte’s latest analysis indicates that consumers are willing to increase spend on both travel and hotel stays. They also intend to buy either a new or used vehicle within the next six months.

Consumers’ intent to purchase clothing, electronic and home furnishing, and recreation, entertainment and leisure, indicates a positive spending pattern triggered by the upcoming festive season.

“The survey findings clearly indicate that consumers plan to increase their discretionary spend by 30 per cent (on items such as recreation and entertainment, restaurants, and leisure travel) in August 2022, compared with April 2022,” it said.

The current wave indicates consumers surveyed were willing to travel to domestic and international destinations. With ‘mask-lift’ announcements and easing out of other COVID-related restrictions in some countries, about 88 per cent Indian consumers plan to spend on leisure travel in the next four weeks.

Clearly online purchases remain strong, albeit to a lesser extent than during the peak of the pandemic. Relevant sectors, such as consumer products and retail, automotive, and travel and hospitality, look to benefit from the buoyant mind set of the consumers covered in the survey.

First step by India to become a major semi-conductor manufacturing hub, Vedanta-Foxconn project .

Semiconductors are materials that have electrical conductivity between conductors generally metals and non-conductors or insulators. Due to their role in the fabrication of electronic devices, semiconductors are an important part of our lives. Anything that’s computerized or uses radio waves depends on semiconductors. Semiconductors are an essential component of electronic devices, enabling advances in communications, computing, healthcare, military systems, transportation, clean energy, and countless other applications.

The country responsible for the most semiconductors in the world is China, Taiwan, South Korea, and Japan. The Indian semiconductor market was valued at USD 27.2 billion in 2021 and is expected to grow at a healthy CAGR of nearly 19 percent to reach $64 billion in 2026. But none of these chips is manufactured in India so far.

A joint venture of the Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed a Memorandum of Understanding on September 14 2022 with the Gujarat government to set up a semiconductor and display manufacturing unit in the state. The project is worth around 20 billion USD. This upcoming facility will mark the beginning of chip manufacturing in India. This is also strategically important for India because it will reduce our dependence on other countries.

Out of the total investment of Rs 1,54,000 crore, Rs 94,000 crore will go into setting up the display manufacturing unit while Rs 60,000 crore will be invested for the semiconductor manufacturing facility, the official said in event of MoU. The FAB (fabrication facility) manufacturing unit in the state facility in Gujarat would create one lakh job opportunities.

As per the MoUs signed by both parties, the Gujarat government will facilitate the investor in obtaining necessary permissions and clearances from the state departments concerned. Among the subsidies and assistance under the state policy, Gujarat will provide additional capital assistance at 40 percent of the capital expenditure assistance extended by the Centre for the projects approved under the India Semiconductor Mission. One-time reimbursement of 100 percent stamp duty and registration fees paid to the government, fixed water tariff at Rs 12 per cubic meter for five years, and a capital subsidy of 50 percent for a desalination plant are the financial benefits under the new policy.

A massive shortage in the semiconductor supply chain last year affected many industries, including electronics and automotive. To cut dependence on imports from nations like Taiwan and China, the government brought a financial incentive scheme for manufacturing semiconductors in the country. Vedanata-Foxconn is one of the successful applicants for the Production Linked Incentive (PLI) scheme for semiconductors and is also a step towards achieving self-reliance in the semiconductor field for the country.

What is Business Process Outsourcing (BPO)?

Business Process Outsourcing (BPO) is the delegation of the Ownership, Administration, and Operation of a process to a third party. Many people see it as an evolution from Information Technology Outsourcing (ITO). Business Process Outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that in turn owns, administers and manages the selected process based on defined and measurable performance criteria. Business Process Outsourcing (BPO) is one of the fastest growing segments of the Information Technology Enabled Services (ITES) industry.

Several MNCs are increasingly unbundling or vertical disintegrating their activities i.e. they have begun outsourcing activities which formerly performed in house and concentrating their energies on a few functions. Outsourcing involves withdrawing from certain stages/activities and relying on outside vendors to supply the needed products, support services or functional activities. These outside vendors are called BPOs. The outsourcing industry is growing from strength.

Why do everything yourself, when someone else can do it at low cost? In the current scenario, the theory says exactly the same. The global market today is highly competitive and continuously changing. A company must, thus, focus on improving productivity and at the same time, cut down costs. This is the basic premise of outsourcing. Outsourcing works because what is non-core for one organisation, is core for another.

In brief, business process outsourcing can be seen as a process in which a company delegates some of its in-house operations or processes to a third party. Thus, it is a transaction through which one company acquires services from another, while maintaining ownership and ultimate responsibility for the processes.

The company then informs its provider what it wants, and how it wants the work to be performed. The main motive for business process outsourcing is to allow the company to invest more time, money and human resources into core activities and building strategies, which fuel company growth.

What is “SETU” initiative by GoI.

In a bid to connect Indian startups with the US-based investors, SETU programme (Supporting Entrepreneurs in Transformation and Upskilling) has been launched by Union Minister Piyush Goyal. SETU will act as a bridge between American and Indian companies. The start-up will help entrepreneurs in upskilling, transforming and leveraging the success stories of the Indian diaspora in the US.

SETU will be a Techno-Financial, Incubation and Facilitation Programme to support all aspects of start up businesses, and other self-employment activities, particularly in technology-driven areas. It aims to create around 100,000 jobs through start-ups.

The initiative would connect startups in India to US-based investors and startup ecosystem leaders with mentorship and assistance in various areas including funding, market access and commercialisation.

SETU is designed to break geographical barriers between mentors based in the US who are willing to invest in entrepreneurship and sunrise startups in India. The interaction will be supported through the mentorship portal under the Startup India initiative MAARG, or the Mentorship, Advisory, Assistance, Resilience, and Growth programme, which is a single-stop solution finder for startups in India.

The portal has been developed with the idea to be made accessible from every corner of the country to connect with a mentor. A mentor will offer human intelligence in guiding the startups.

Role of Small Scale Industries(SSI) in India.

In a developing country like India, the role and importance of small-scale industries is very significant towards poverty eradication, employment generation, rural development and creating regional balance in promotion and growth of various development activities.

It is estimated that this sector has been contributing about 40% of the gross value of output produced in the manufacturing sector and the generation of employment by the small-scale sector is more than five times to that of the large-scale sector.

This clearly shows the importance of small-scale industries in the economic development of the country. The small-scale industry have been playing an important role in the growth process of Indian economy since independence in spite of stiff competition from the large sector and not very encouraging support from the government.

The following are some of the important role played by small- scale industries in India.

Employment generation:

The basic problem that is confronting the Indian economy is increasing pressure of population on the land and the need to create massive employment opportunities. This problem is solved to larger extent by small-scale industries because small- scale industries are labour intensive in character. They generate huge number of employment opportunities. Employment generation by this sector has shown a phenomenal growth. It is a powerful tool of job creation.

Mobilisation of resources and entrepreneurial skill:

Small-scale industries can mobilize a good amount of savings and entrepreneurial skill from rural and semi-urban areas remain untouched from the clutches of large industries and put them into productive use by investing in small-scale units. Small entrepreneurs also improve social welfare of a country by harnessing dormant, previously overlooked talent.

Equitable distribution of income:

Small entrepreneurs stimulate a redistribution of wealth, income and political power within societies in ways that are economically positive and without being politically disruptive.

Thus small-scale industries ensures equitable distribution of income and wealth in the Indian society which is largely characterised by more concentration of income and wealth in the organised section keeping unorganised sector undeveloped. This is mainly due to the fact that small industries are widespread as compared to large industries and are having large employment potential.

Regional dispersal of industries:

There has been massive concentration of industries m a few large cities of different states of Indian union. People migrate from rural and semi urban areas to these highly developed centres in search of employment and sometimes to earn a better living which ultimately leads to many evil consequences of over-crowding, pollution, creation of slums, etc. This problem of Indian economy is better solved by small- scale industries which utilise local resources and brings about dispersion of industries in the various parts of the country thus promotes balanced regional development.

Promotes exports:

Small-scale industries have registered a phenomenal growth in export over the years. The value of exports of products of small-scale industries has increased to Rs. 393 crores in 1973-74 to Rs. 71, 244 crores in 2002-03. This contributes about 35% India’s total export. Thus they help in increasing the country’s foreign exchange reserves thereby reduces the pressure on country’s balance of payment.

Supports the growth of large industries:

The small-scale industries play an important role in assisting bigger industries and projects so that the planned activity of development work is timely attended. They support the growth of large industries by providing, components, accessories and semi finished goods required by them. In fact, small industries can breath vitality into the life of large industries.

Social Responsibility and why it is important for modern businesses.

The concept of social responsibility in relation to business means that the firm functions to accomplish its financial objectives and serves the society as well. No business exists in isolation. Every organ of the society contributes towards the success of a business. Thus it becomes imperative that business too does something for the society in return. This responsibility of business towards the society is called social responsibility.

A socially responsible firm should not work solely for profit maximization but should also seek the welfare of different sections of the society. Social responsibility of business refers to its obligations to take those decisions and perform those actions which are acceptable in terms of the objectives and values of the society.

Why business need to do social responsibility?

Business is a Part of Society:

Since business organisations are a part of society they must have a positive attitude towards the needs of society. Business is only a sub-system of society and this sub-system must contribute to the welfare of the main system. Therefore, the decisions taken by the manager should take into consideration the welfare of not only his organisation but also the welfare of other sub-systems (different parts of society like customers, shareholders, employees, etc.)

Long-Term Interest:

It is in the long-term interest of the business to discharge its social obligations by serving different interest groups such as employees, consumers, government and citizens. Wise business persons know that unless they serve the society by fulfilling its needs, they will not be able to climb the success ladder.

Indebted to Society:

A business uses the resources of the society for its functioning. Hence, it becomes obligatory for it to pay back its dues by serving the society. Businessmen should tend to the needs of the society and use its resources for community welfare. This practice ultimately helps the organization in establishing itself on the strong foundation of a pleased society and a cooperative labour force.

Public Image:

The activities of business towards the welfare of the society earn goodwill and reputation for the business. The earnings of business also depend upon the public image of its activities. People prefer to buy products of a company that engages itself in various social welfare programmes. Again, good public image also attracts honest and competent employees to work with such employers.

Social Awareness:

These days, employees and customers are more informed about their rights. While consumers expect the seller to abide by the fair trade practices, workers want fair wages and other employee benefits. If the expectations of these interest groups are not met, they may resort to either anti-social activities or seek help from trade unions and consumer courts. This will lead to industrial turmoil and unrest within the society which is harmful for proper functioning of the business.

10 travel destinations in india

India is home to some of the most stunning natural attractions and historical sites in the world. With so many places to visit and things to do, it’s hard to know where to start. But if you want something off-the-beaten path, these 10 destinations are sure to satisfy your wanderlust.

1. Goa

Goa is a popular tourist destination in India and has been attracting visitors for years. It’s known for its beaches, which are clean and have plenty of space to relax on them.

Goa also has great food, music and culture. The best way to experience all this is by staying at an airbnb or other bed & breakfast type place that hosts travelers from around the world!

2. Kerala

Kerala is a beautiful place to visit in India. It has many beaches, backwaters and historical sites. One of its most famous attractions is the backwaters of Alleppey that are home to some interesting wildlife sanctuaries. The state also has many temples which are a must-see during your trip here.

3. Andaman and Nicobar Islands

The Andaman and Nicobar Islands are located in the Bay of Bengal, just off India’s coast. These islands are a part of India and home to many different tribes. The islands have a great climate for relaxation, as well as beaches with white sand.

4. Pondicherry

Pondicherry is a city in the union territory of Puducherry. It was formerly known as Pondicherry and it is located on the Coromandel Coast, India’s east coast, which is known for its beaches and resorts. The city has an old-world feel to it with buildings that date back to French rule over India during the 19th century.

Pondicherry has many beaches where you can go swimming or just relax on your day off from work.

5. Leh Ladakh

Leh Ladakh is a cold desert in the Himalayas, close to the Chinese border. It’s a great place to visit if you want to see the mountains and enjoy some hiking or trekking. There are many places where you can go for this activity, but one of them is called “Nubra Valley”. In this valley there are many different things that you can do: horseback riding (on horses), skiing down from a mountain peak or just walking around looking at all those beautiful views.

6. Rajasthan

Rajasthan is a state in northern India. It has a desert climate, but it’s also known for its palaces and forts. The city of Jaipur is home to several of these attractions, including the Amber Fort and Jantar Mantar Observatory. It also has many lakes, some famous (Lake Pichola) and some not so much (Kumbhalgarh). Some people visit these lakes during wintertime because they’re warm then; others go there in summer because it looks like an ice skating rink. There are plenty of temples as well: we’re talking about hundreds of them.

7. Darjeeling

Darjeeling is a hill station in West Bengal. The city is located on the foothills of the Himalayas and offers panoramic views of the plains below.

The town has been known for its tea plantations since 1834 when it was first discovered by British colonists. It’s also a popular destination for trekkers, who can choose from several trails to explore this beautiful area along with its rich history and natural beauty.

8. Varanasi

Varanasi is a religious, cultural and historical city located on the banks of River Ganges. It has been called one of the most sacred places in India as it’s believed that Lord Shiva resided here for some time before passing away.

The city is known for its ghats (steps leading down to the river), temples and food which are all part of its rich history. Varanasi offers tourists everything they need during their stay – from budget accommodation options to luxury hotels & resorts offering everything from pampering spa treatments to yoga classes at sunrise. Not only this but there are plenty of things to do when you visit Varanasi including visiting one or more ghat sites where pilgrims perform rituals during monsoon season when temperatures rise up high enough so visitors can bathe in freezing waters without getting cold feet.

9. Rishikesh

Rishikesh is full of amazing sights—from its spectacular natural surroundings to its historic temples and churches. Other sights include Lakshman Jhula Bridge built between 1822–1823 across River Ganges near Yamuna Sagar Lake during British rule; Vishwanath Temple dedicated specifically because he was considered Hindu god Vishnu’s favorite son; Kedarnath Temple built by King Bhagwan Nand Lal in memory of his father who died while building this temple during his lifetime. River rafting and other fun activities are organised here.

10. Gulmarg, Jammu and Kashmir

Gulmarg is a ski resort in Kashmir, located at an altitude of 11,500 feet. It is one of the oldest and most popular tourist destinations in Jammu and Kashmir. The area has 300 km of pistes that can be reached by cable cars or snowshoes. Gulmarg also hosts many other activities like skiing, heli-skiing, snowboarding and more.

These are just a few of the travel destinations in India that you can experience and enjoy.

Business Ethics and its scope.

Business ethics comprises various traits, such as trustworthiness and transparency in customer services. Ethical business practices strengthen customer relationship that is of prime importance for long-term organizational success. It deals with retaining and creating a long-lasting impression in the minds of customers. Such impressions help the enterprise to win the trust of customers and get more business.

Business ethics plays a very crucial role in various management functions, which are given as follows:

i. Ethics in Finance:

It deals with various ethical dilemmas and violations in day-to-day financial transactions. An example of ethical violations is data fudging in which enterprises present a fabricated statement of accounts and other records, which are open to investigation. Ethics in financial transactions gained importance when due to their insufficiency nations suffered massive economic meltdowns.

The following are the ethics in finance:

a. Following truthfulness and authenticity in business transactions

b. Seeking the fulfilment of mutual interests

c. Getting the economies and financial units freed from greed-based methodologies.

ii. Ethics in Human Resource Management:

It deals with the enforcement of the rights of employees in an enterprise.

Such rights are as follows:

a. Having a right to work and be compensated for the same

b. Possessing a right for free association and participation

c. Enjoying a right for fair treatment in an enterprise

d. Holding a right to work in a hazard-free environment

e. Blowing whistle (an activity where an employee can raise voice against any wrong practice of anyone in an enterprise)

iii. Ethics in Marketing:

Deals with a number of issues, which are as follows:

a. Misinforming the customers about the products or services

b. Deciding high prices for the products and services

c. Creating false impression on the customers/consumers about the features of products

d. Promoting sexual attitudes through advertising; thus, affecting the young generation and children.

iv. Ethics in Production:

It deals with the responsibility of an organization to make sure that products and processes of production is not causing harm to the environment.

It throws light on the following issues:

a. Avoiding rendering services or producing products that are hazardous to health. For example, tobacco and alcohol

b. Maintaining ethical relations with the environment and avoiding environmental pollution.

BCG Matrix.

Boston Consulting Group (BCG) Matrix is a four celled matrix (a 2 * 2 matrix) developed by BCG, USA. It is the most renowned corporate portfolio analysis tool. It provides a graphic representation for an organization to examine different businesses in it’s portfolio on the basis of their related market share and industry growth rates. It is a two dimensional analysis on management of SBU’s (Strategic Business Units). In other words, it is a comparative analysis of business potential and the evaluation of environment.

According to this matrix, business could be classified as high or low according to their industry growth rate and relative market share.

Relative Market Share = SBU Sales this year leading competitors sales this year.

Market Growth Rate = Industry sales this year – Industry Sales last year.

The analysis requires that both measures be calculated for each SBU. The dimension of business strength, relative market share, will measure comparative advantage indicated by market dominance. The key theory underlying this is existence of an experience curve and that market share is achieved due to overall cost leadership.

BCG matrix has four cells, with the horizontal axis representing relative market share and the vertical axis denoting market growth rate. The mid-point of relative market share is set at 1.0. if all the SBU’s are in same industry, the average growth rate of the industry is used. While, if all the SBU’s are located in different industries, then the mid-point is set at the growth rate for the economy.

Resources are allocated to the business units according to their situation on the grid. The four cells of this matrix have been called as stars, cash cows, question marks and dogs. Each of these cells represents a particular type of business.

Stars- Stars represent business units having large market share in a fast growing industry. They may generate cash but because of fast growing market, stars require huge investments to maintain their lead. Net cash flow is usually modest. SBU’s located in this cell are attractive as they are located in a robust industry and these business units are highly competitive in the industry. If successful, a star will become a cash cow when the industry matures.

Cash Cows- Cash Cows represents business units having a large market share in a mature, slow growing industry. Cash cows require little investment and generate cash that can be utilized for investment in other business units. These SBU’s are the corporation’s key source of cash, and are specifically the core business. They are the base of an organization. These businesses usually follow stability strategies. When cash cows loose their appeal and move towards deterioration, then a retrenchment policy may be pursued.

Question Marks- Question marks represent business units having low relative market share and located in a high growth industry. They require huge amount of cash to maintain or gain market share. They require attention to determine if the venture can be viable. Question marks are generally new goods and services which have a good commercial prospective. There is no specific strategy which can be adopted. If the firm thinks it has dominant market share, then it can adopt expansion strategy, else retrenchment strategy can be adopted. Most businesses start as question marks as the company tries to enter a high growth market in which there is already a market-share. If ignored, then question marks may become dogs, while if huge investment is made, then they have potential of becoming stars.

Dogs- Dogs represent businesses having weak market shares in low-growth markets. They neither generate cash nor require huge amount of cash. Due to low market share, these business units face cost disadvantages. Generally retrenchment strategies are adopted because these firms can gain market share only at the expense of competitor’s/rival firms. These business firms have weak market share because of high costs, poor quality, ineffective marketing, etc. Unless a dog has some other strategic aim, it should be liquidated if there is fewer prospects for it to gain market share. Number of dogs should be avoided and minimized in an organization.

SWOT Analysis explained.

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. By definition, Strengths (S) and Weaknesses are considered to be internal factors over which you have some measure of control. Also, by definition, Opportunities (O) and Threats (T) are considered to be external factors over which you have essentially no control.

SWOT Analysis is the most renowned tool for audit and analysis of the overall strategic position of the business and its environment. Its key purpose is to identify the strategies that will create a firm specific business model that will best align an organization’s resources and capabilities to the requirements of the environment in which the firm operates.

In other words, it is the foundation for evaluating the internal potential and limitations and the probable/likely opportunities and threats from the external environment. It views all positive and negative factors inside and outside the firm that affect the success. A consistent study of the environment in which the firm operates helps in forecasting/predicting the changing trends and also helps in including them in the decision-making process of the organization.

An overview of the four factors (Strengths, Weaknesses, Opportunities and Threats) is given below-

Strengths – Strengths are the qualities that enable us to accomplish the organization’s mission. These are the basis on which continued success can be made and continued/sustained.

Strengths can be either tangible or intangible. These are what you are well-versed in or what you have expertise in, the traits and qualities your employees possess (individually and as a team) and the distinct features that give your organization its consistency.

Strengths are the beneficial aspects of the organization or the capabilities of an organization, which includes human competencies, process capabilities, financial resources, products and services, customer goodwill and brand loyalty. Examples of organizational strengths are huge financial resources, broad product line, no debt, committed employees, etc.

Weaknesses – Weaknesses are the qualities that prevent us from accomplishing our mission and achieving our full potential. These weaknesses deteriorate influences on the organizational success and growth. Weaknesses are the factors which do not meet the standards we feel they should meet.

Weaknesses in an organization may be depreciating machinery, insufficient research and development facilities, narrow product range, poor decision-making, etc. Weaknesses are controllable. They must be minimized and eliminated. For instance – to overcome obsolete machinery, new machinery can be purchased. Other examples of organizational weaknesses are huge debts, high employee turnover, complex decision making process, narrow product range, large wastage of raw materials, etc.

Opportunities – Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. Organizations can gain competitive advantage by making use of opportunities.

Organization should be careful and recognize the opportunities and grasp them whenever they arise. Selecting the targets that will best serve the clients while getting desired results is a difficult task. Opportunities may arise from market, competition, industry/government and technology. Increasing demand for telecommunications accompanied by deregulation is a great opportunity for new firms to enter telecom sector and compete with existing firms for revenue.

Threats – Threats arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business. They compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, the stability and survival can be at stake. Examples of threats are – unrest among employees; ever changing technology; increasing competition leading to excess capacity, price wars and reducing industry profits; etc.

SWOT Analysis is a strategic management tool that assists an enterprise in discerning their internal Strengths, and Weaknesses, and external Opportunities, and Threats, to determine its competitive position in the market.

“Using UPI is not going to be chargeable” Clarified.

The RBI discussion paper issued earlier this month said, UPI as a fund transfer system is like IMPS and therefore, it could be argued that the charges in UPI need to be similar to charges in IMPS for fund transfer transactions.

To clarify, Ministry of Finance quoted “UPI is a digital public good with immense convenience for the public and productivity gains for the economy. There is no consideration in government to levy any charges for UPI services,” the Ministry of Finance said in a statement.

The clarification came amid speculations that UPI transactions could be charged, as a discussion paper released by the Reserve Bank of India (RBI) on August 17 sought feedback related to the subject. “Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries,” the central bank said in a release. The feedback received would be used to guide policies and intervention strategies.

In the context of UPI, the RBI, in the discussion paper, has questioned if UPI transactions are charged, they should be administered by the regulator, or whether they should be market determined. While clarifying it was not considering any service charge on UPI transactions, the finance ministry reiterated its support for the further adoption of the digital payments system.

YouTube Marketing and its benefits.

YouTube marketing is a strategy that involves creating videos and uploading them on YouTube to promote a brand or a product and gain more exposure. It helps companies boost traffic, increase their customer base, and reach new audiences.

Since YouTube’s 22.8 billion visits a month make it the second most visited site in the world after Google, it’s able to bring many benefits to businesses nowadays. The platform isn’t just a famous entertaining channel but a powerful marketing tool, and companies can develop YouTube channels for advertising. YouTube channels help get more views from new geographic, promote a product or a company, build a large customer base, and increase a brand’s sales volume. YouTube is also a famous educational platform. Companies can achieve greater exposure, which expands their customer base. By making detailed tutorials, live streams, guides, and lessons, brands can rank higher on Google.

The platform can serve as one of the most effective marketing channels. Optimizing keywords in titles and creating tutorials, commentary, product reviews, Q&A, and video listicles allow businesses to achieve higher exposure and reach new audiences. Brands can’t predict who and when will access their videos. If the content contains the necessary keywords in the title and description, all people who look for information might stumble upon a certain video, stay on the channel, and buy the product it advertises. Besides, adding watermarks and company logos to videos enables businesses to improve brand awareness.

Benefits of YouTube marketing :

Heavy Traffic

YouTube is growing exponentially, with more than 5 billion videos consumed every single day. This is much more traffic than any other platform out there. Even if one don’t create many videos for own business, one can still easily reach an audience by advertising one’s content on other people’s videos. There is so much traffic on YouTube that it is guaranteed to find potential customers as long as you cater to their needs.

Higher Visibility on Google

By utilizing YouTube marketing, businesses are also increasing the online authority of their business. The more authoritative they are on Google, the higher their page will rank on the Google search engine result page.

Higher Conversion Rates

If a picture speaks a thousand words, a video makes up for a million words. Moreover, videos can evoke emotion more than any other form of content. They take your messages from static text to dynamic and engaging, and bring your business to life. They also help to build trust and authority among people in a unique way. This entertaining and engaging form of content has the power to increase your conversion rate by 80 percent.

Multiple Video Types Another crucial advantage of YouTube marketing is the different types of videos you can create to showcase your brand online. The most common types of videos on YouTube are explainer videos, sales videos, social media videos, presentation videos

Branding and its Components.

The Branding is a marketing process wherein the firm tries to create a unique image of the product in the minds of the customer and establish a differentiated presence in the market with the intent to retain the customer loyalty.

A brand is the name, symbol, icon, image or the combination of these which is intended to identify the goods and services of a particular seller or group of sellers and to differentiate them from those of the competitors.

The branding is a comprehensive term and includes the following:

Brand Name: The brand name consists of a word, letter or the combination of words that are vocalized or can be pronounced easily. The brand name gives a unique identity to the goods and services of a particular seller and can be easily differentiated from the other brands available in the market. Such as Tata Salt, Usha Fans, Nike shoes, etc.

Brand Mark: A brand mark is the part of the brand that appears in the form of a symbol, logo, design, shape or distinctive coloring which can be recognized only through the site and cannot be pronounced. The brand mark increases the recognition of the brand. Such as, a symbol of Swoosh of Nike, Amul Girl of Amul Butter, Maharaja of Air India, etc.

Trade Mark: When the brand name and the brand mark are given the legalized protection such that no other firm can use it for its product then it becomes a trademark. Thus, the trademark is the protection given to the seller to use the brand name and the brand mark and prohibiting others from using it.

Trade Name: The trade name is frequently used as a synonym for either the brand name or a brand mark, but actually it is the name of the business, preferably the name of the organization itself. Most often, the trade name is used as a brand name, but it serves two purposes, give the identity of both the manufacturer as well as the product. Such as Godrej and Tata are both the trade names and are also the brand names for most of their products.

Patents: The Patents are the legal protection given to the new inventions pioneered by any business. Any firm can get its inventions such as new process, new product or the new machine patented so that an exclusive right to use it is obtained solely by the inventor. The patent confers the right to the inventor to use the new technology while prohibits the unauthorized persons for a fixed number of years from making the commercial use of the technological invention.

Copyright: The copyright is applicable in the case of books, dramatic, musical and artistic work and carries the similar meaning as that of the patents. The copyright provides protection to the work of an author so that no other person can copy it.

Hydroponics

Hydroponics is the method of growing plants without soil. It generally uses less water as compared to traditional soil system. It allows faster growth and higher yield.

William Frederick Gericke is known as father of hydroponics. He grew tomato vines in his backyard in nutrient solution.

The nutrients used in hydroponics include fish and poultry excreta , duck manure, chemical fertilizers, artificial nutrient solution etc.

Plants are commonly grown hydroponically in a greenhouse, on inert media, include tomatoes, peppers, cucumbers, strawberries, lettuces, and cannabis, usually for commercial use, and Arabidopsis thaliana, which serves as a model organism in plant science and genetics.

Advantages:

Does not require soil for cultivation.

Promotes faster and efficient plant growth.

It uses less water as compared to conventionally grown plants. Hence, helps to save water.

It does not depend on climate for favourable growing conditions.

Saves labour due to automatic watering and fertilizing capability.

Have fewer pest can can be grown closely.

Photo by Pragyan Bezbaruah on Pexels.com

The plant has less root and nutrient competition than grown in soil.

There are six main types of hydroponic system for garden: wicking, deep water culture (DWC), nutrient film technique (NFT), ebb and flow, aeroponics, and drip systems.

Disadvantages:

Involves high installation cost.

Need to test the solution frequently to avoid infection and damage.

System are prone to equipment failure and power outage.

Prone to water borne infection.

Requires constant monitoring and assistance.

Some systems, known as aquaponics involves use of nutrient-rich wastewater from aquaculture to fertilize hydroponic plants. Freshwater fish, such as tilapia, and crayfish are common aquatic animals utilized for these hybrid systems.

Nowadays, hydroponics is being implemented in large scale as a start up to meet the demand of fresh leafy vegetables as is a part of urban farming.

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