Business - The Purbottar

08 Jun

Snapchat sees 10-fold advertiser growth in India as brands target Gen Z audiences

Business BureauBusiness

Snapchat has reported a sharp rise in advertiser adoption in India, with the number of advertisers on the platform increasing tenfold over the past two years and the number of advertisers spending across all four quarters tripling during the period. The company attributed the growth to rising demand for immersive advertising formats, expansion of Chat as a high-attention advertising surface, and investments in AI-powered targeting and advertising tools. With more than 250 million users in India, Snapchat said it has become a key platform for brands seeking to engage Gen Z consumers, a demographic that currently accounts for 43 per…

08 Jun

RBI keeps rates unchanged; Kotak Mahindra Bank sees hike cycle from October

Business BureauBusiness

The Reserve Bank of India (RBI) kept key policy rates and its monetary policy stance unchanged, while continuing to monitor inflationary pressures and global economic developments, according to market reactions following the central bank's latest policy announcement. Reacting to the policy decision, Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank, said the RBI had expectedly maintained both rates and stance, while highlighting amplified risks on the inflation front. She noted that the central bank remains cautious amid evolving macroeconomic conditions and inflation concerns. Bhardwaj said the bank expects a cumulative 50 basis points rate hike cycle to begin from October…

07 Jun

LIC in Talks with RBI and SEBI to Expand Long-Term Investment Instruments Amid Annuity Surge

nanika EditorBusiness

State-owned Life Insurance Corporation of India (LIC) is actively engaging with major financial regulators, including the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), to expand the availability of long-term investment instruments. LIC Managing Director and CEO R. Doraiswamy revealed that this proactive outreach is driven by a massive, continuous surge of inflows into the corporation’s annuity and pension products. Annuity products convert a policyholder's retirement corpus into a guaranteed, lifelong stream of income, creating long-tailed liabilities for LIC that can span up to 50 years. To safely match these extended liabilities, the insurance…

07 Jun

Tech and Customer Support Sectors Bear the Brunt of Accelerating AI Workforce Cuts

anuprova EditorBusiness

A relentless wave of artificial intelligence adoption has triggered a profound shift across the global workforce, with the technology, media, and telecommunications sector alongside customer operations suffering the most severe disruption. As corporate giants aggressively scale up spending on generative AI models and data centers, executive leadership teams are leveraging high-level automation to significantly downsize their workforces. This sudden operational transition has debunked early projections that automation would take decades to materialize, proving instead that routine, rule-based digital tasks can be completely substituted overnight at a fraction of human labor costs. The legal, administrative, and technology sectors are experiencing unprecedented…

06 Jun

Meesho’s PRISM Engine Leverages 100+ AI Models to Drive Shopping in ‘Bharat’

nanika EditorBusiness

In a major shift for online retail, Meesho announced that more than 75 percent of its platform orders now originate from personalized product feeds. This surge is powered by its proprietary AI recommendation engine, known as PRISM. The system represents a fundamental shift away from traditional, keyword-based search bars, catering instead to a growing demographic of users who prefer browsing over typing. Serving an enormous user base of 264 million annual transacting users, PRISM analyzes real-time shopper behavior and intent signals. According to Meesho's Chief Data Scientist, Debdoot Mukherjee, the next hundred million Indians coming online will discover products through…

06 Jun

One meal can become a lifeline, says Malabar Group’s Hunger Free World report

Business BureauBusiness

Marking World Hunger Day, Hunger Free World, a humanitarian initiative of Malabar Group, released a rehabilitation impact report highlighting how its Street Meal Distribution Programme has helped transform the lives of vulnerable people living on the streets through consistent food outreach and rehabilitation support. Titled "Impact Stories: How a Daily Meal Opens the Door to a Transformed Life", the report documents cases where regular meal distribution led to medical assistance, shelter access, dignity restoration and family reunification. The programme is implemented on the ground by Thanal. According to the report, the initiative was launched to address hunger through regular access…

06 Jun

Renault Duster Turbo TCe 100 records fuel efficiency of 19.41 km/l

Business BureauBusiness

Renault India on Friday announced that its new Duster Turbo TCe 100 has achieved an ARAI-certified fuel efficiency of 19.41 km per litre, highlighting the company's focus on combining performance with fuel economy in the competitive SUV segment. The automaker said the Duster Turbo TCe 100 is powered by a turbocharged petrol engine that delivers 100 PS of power and 160 Nm of torque. Paired with a six-speed manual transmission, the powertrain has been designed to offer responsive performance, smooth drivability and improved fuel efficiency across varied driving conditions. Dr. V. Vikraman, Chief of Renault Engineering, Renault Group India, said…

06 Jun

Vi-Meta partnership signals growing demand for secure digital authentication

Business BureauBusiness

Vodafone Idea (Vi) and Meta have launched Silent Mobile Verification (SMV) capabilities for Vi users across WhatsApp, Facebook and Instagram, a move that reflects the increasing focus on secure digital authentication and fraud prevention in India’s expanding digital economy. The network-based authentication technology enables users to verify their mobile numbers in the background without manually entering OTPs, switching applications or waiting for verification messages. The solution supports key user journeys such as new user registration, mobile number validation, login and re-login, account recovery, and authentication during security checks. Market participants view the launch as a significant development in India's digital…

05 Jun

Centre May Scrap Capital Gains Tax on Govt Securities to Retain FPI Amid West Asia Crisis

Preeti SinghBusiness

Due to the crisis arising in Western Asia, the Central Government might take a major decision to prevent foreign capital from moving out of the Indian market. According to a source, if Foreign Portfolio Investors (FPI) invest in government securities or bonds, the government is planning to completely waive or withdraw the capital gains tax on the returns earned from them.On Wednesday, an ordinance was approved in the Union Cabinet meeting chaired by Prime Minister Narendra Modi to make necessary amendments to the income tax law. This conditional formal notification could be issued within this week itself.Currently, foreign investors holding…

05 Jun

ABD Maestro expands premium spirits portfolio to Odisha

Business BureauBusiness

ABD Maestro Pvt. Ltd., the super-premium and luxury spirits subsidiary of Allied Blenders & Distillers (ABD), has entered the Odisha market with the launch of four premium brands — AODH Irish Whiskey, WOODBURNS Contemporary Indian Malt Whisky, YELLO Designer Whisky and RANGEELA Contemporary Indian Vodka. The launch, held in Bhubaneswar on Tuesday, marks a key milestone in the company’s expansion strategy as it seeks to strengthen its presence in high-potential markets across India. ABD Maestro said the move aligns with its vision of building a future-focused portfolio of premium spirits tailored to evolving consumer preferences. The company, which counts Bollywood…