Rohanjeet Singh Juneja and Karan Desai, joint MDs at the Dhanvarsha Finvest Limited spoke to NewsX in its special segment, NewsX A-List. Their company aims to provide timely, affordable and sustainable access to credit to the country’s almost 500 million under-served borrowers.
Karan Desai started off by talking about their venture, “We are a very young company which started about three and a half years ago. We are an independent institution under the aegis of the 80-year-old Wilson Group of Mumbai. We started with a very simple premise aiming to empower the underserved and unserved entrepreneurs or individuals of India and give them access to timely and institutional credit.”
Talking about their vision, Desai said, “The mission here is not just to focus on financial inclusion where we want to provide for social capital. Our main achievement today is the funding that we provide to our small customers in the community. We are of the view that it’s a very rare occasion that a small institution like us gets to make such a big social impact and help our clients out. And this is achieved by providing timely and affordable finance to people in the MSME segment.”
Elaborating on the observation of the market scenario especially in times like this, Rohanjeet Singh Juneja started off by quoting Mark Twain, “History doesn’t repeat itself, but it often rhymes. In our view, the situation in India today is very similar to what it was in the late 90s. Not just in India, but globally, that in good times, often, many people take on excessive debt, without knowing the commensurate risks that come with it or without appreciating the commensurate risks. Once the cycle dawns, if you recall back in the late 90s, in India, it was a very similar scenario when you had excessive debt, and changing regulation that eventually led to a shakeout in the sector. Now, a very similar situation has played out in India, which has led to a complete credit crunch for the sector and a commensurate slowdown in economic growth. Therefore, we believe that this time is no different from the late 90s. In India, another similar situation to the late 90s is from 2014 to 2018, there was a proliferation of many different NBFS that came into doing business, not just because they had a good business model, but they came in search of exploration.”
“What happens at a time like that when there is excessive competition and high growth is, balance sheets get levered up, and if there’s any hiccup in asset quality due to dilution and norms for lending or in pricing, because of excessive competition, any hiccup in asset quality will lead to a disproportionate impact on profitability, and that is exactly what has happened with where we are today. Therefore, we believe that you know going forward just like it happened in the late 90s in India, there will be consolidation in the sector. But at the same time history has proven that in times like this if you can build a good business model, you will be successful. That is exactly where we are today for small and nimble organizations like us who have very governance, a strong foundation of trust or unendurable, like this, we feel that we will do very well.” Juneja further added explaining the mantra of their success so far.
Highlighting how Dhanvarsha is different from its competitors, Desai shared a few insights. He said, “Focusing extensively on the MSME segment, there is a specialized or more than one art than a science actually, where you need to take into account a variety of factors when you look at the businesses. So traditional banks typically do not do much business in this category because they will tend to focus on the larger ticket size loans, where the underwriting data is a lot more easily available.”
Further talking about how Dhanvarsha aims to help the Indian entrepreneurs and help them establish their very own businesses, Desai said, “We are essentially trying to chase those 500 odd million unsolved borrowers where we feel that using a specialized underwriting methodology, we can make a huge difference. I think our biggest differentiator is that we try to enable businesses and we want to be that catalyst to entrepreneurs of India by not just becoming the preferred financial partner, but also their partners in business and social growth. So a number of small customers that we funded have actually gone on to establish new factories, create employment.”
“Our mission is to empower these entrepreneurs, not just by lending a hand to them, but also lending them mind space and heart, which is trying to help them become social capital for all the stakeholders in the ecosystem. Largely, I think, it is also important to note that we are also very technology-focused. So while we call ourselves a FinTech company, we are trying to use technology increasingly, to mitigate risks in our underwriting. And also to reduce our turnaround time substantially,” added Desai.
Adding to this Juneja said, “We believe in making a difference by building a strong partnership ecosystem. In that effort, we’ve collaborated with multiple partners across various segments that shaped our borrower profile. So we’re making significant strides in collaborating with these partners and stakeholders for future periods. Because our belief is that going forward, collaboration is going to be the key, rather than competition. Because when you have people that collaborate and build good businesses together, leveraging off each other’s strengths, establishes a stronger foothold for you on the market.”
Taking pride in Dhanvarsha’s achievements as an organization, Juneja stressed, “We take pride in ourselves for being able to constantly innovate to diversify our revenue streams, minimize risk, and use our assets and infrastructure more prudently. Therefore, we do not just underwrite on our own balance sheet but we also have a focus loan, retail distribution business, which generates a very strong income for us. And again, that is due to our collaboration with multiple partners.”
The Daily Guardian is now on Telegram. Click here to join our channel (@thedailyguardian) and stay updated with the latest headlines.
For the latest news Download The Daily Guardian App.
AICTE AND MINISTRY OF EDUCATION’S INNOVATION CELL CELEBRATE NATIONAL START-UP DAY
The All India Council for Technical Education (AICTE) and the Ministry of Education’s Innovation Cell (MIC) today celebrated the ‘National Start-up Day’ and highlighted 75 innovative technologies with start-up potential to receive grants assistance, mentorship, and incubation linkage support.
These innovations were part of the e-exhibition held during the Innovation Week that started on January 10. During the Innovation Week, more than 500 innovations and startups showcased their work virtually. The Innovation Week concluded today with an announcement of marking the day as ‘National Start-up Day’ by Hon’ble Prime Minister of India, Shri Narendra Modi.
The innovations and start-ups were selected from a host of programs like the National Innovation Contest, Smart India Hackathon, and Toycathon that were conducted by the Ministry of Education. These 75 innovations and start-ups have developed a range of technological solutions and services that will work across 16 different themes and sectors.
Among the start-ups, ‘BioMANS’ (Bio-Based Biodegradable Advance Material) produces a wide range of utility products for daily use like carry bags, medical bibs, cotton earbuds, disposable cutlery, etc. from agricultural waste. The start-up is working to curb single-use plastic pollution.
Another start-up named “Fenice Technical Solutions” incubated at Dr. MGR Educational and Research Institute offers solution in Robotics and Drones segment. Their innovative product ‘Clog Removing Autonomous Bot’ (CRAB) is to clear blocks and clogs in underground sewer and metro pipelines.
“Motion Sensing Glove” is a unique technical tool to assist the physiotherapists has been developed by a team of students and is currently being incubated at Punjab University. The device suggests the best and optimal moves for a patient undergoing physio rehabilitation treatment. The founding team is working in the direction to use AI and ML-based data analysis to further improve its usability.
The MoE’s Innovation Cell and AICTE offers a wide range of policy programs and handholding initiatives to promote and support innovation and startups in educational institutions
Prof. Anil D Sahasrabudhe, Chairman, AICTE emphasised that: “Toycathon and Toy Business league (TBL) are best platforms for both school and college students to collaborate with industries to commercialise their creative outputs. So far 55 toy manufacturers have collaborated with Toycathon winners to refine and manufacture their products”.
Commenting on the success of the programme, Dr. Abhay Jere, Chief Innovation Officer (CIO), MIC, said: “We started with 30,000 ideas from students and faculty. After multiple levels of screening, scrutiny, and training, we have now identified 75 innovations that have really good start-up potential. We are offering them funding support up to Rs.10 lakh each and will monitor their progress for the next two years”.
Highlighting the importance of the initiative, Prof. M.P. Poonia, Vice-Chairman, AICTE, said: “The AICTE has already introduced and institutionalised a new academic program at master’s level on Innovation, Entrepreneurship and Venture Development (MBA/PGDM in IEV) for technical institutions with incubation units to offer this program. So far 21 HEIs are running this program and helping young minds to undertake the career of innovation and start-up as part of the academic. This academic program is a reformative step and aligned with NEP’s multidisciplinary approach and to produce job creators from academic institutions”.
Seems like unfinished business: Akasa on her Bigg Boss 15 journey
In this exclusive conversation, Akasa spoke about her journey in the reality show, rumours of her re-entering the show, her bond with some of the housemates and much more.
Singer Akasa, who was recently seen in Bigg Boss 15, joined us for a candid chat as part of NewsX India A-List. In the exclusive conversation, Akasa spoke about her journey in the reality show, rumours of her re-entering the show, her bond with some of the housemates and much more. Read excerpts:
Talking about her Bigg Boss 15 journey, Akasa said, “The journey was interesting. It took me a while to adjust to the kind of people or the surrounding that I was in. I don’t think I have ever been in such a situation or such vibes before. In the first week, I was like I just want to go home because there are a lot of things that I have not experienced in life yet. I have never had to just use people’s emotions for a game, play with relations and ruin friendships. It was difficult for me to do that and I could not do that till the end. I was like I am just not letting go of morals or my beliefs just for something that will get me more footage. Having said that, there were a lot of things that I learnt much later in the show. It is unfortunate that when I did start opening up or showing my personality, speaking up, playing the game, it was time for me to go home. Overall, the journey was interesting but it seems like unfinished business.”
Addressing rumours of her re-entering the show and whether she would like to re-enter the show, Akasa stated, “I would, for sure. I feel like I got out and I was like ‘No, let me back in. I just started playing’. It changed because next week I was like ‘Do I really?’ A lot of my friends and family said that we are so glad you are out of there because they could see how uncomfortable I was. I do feel a lot. I can’t let go of things. Having said that, overtime watching it, I learnt so many more things. I learnt what it is about, what I should not have done or who is who. I feel like there is so much more untapped potential, there is so much more I have to give and it is unfair that I haven’t yet, whether to the audience or myself. I would definitely like to go back and play my game.”
“Apparently other people know of some things that I don’t but the makers haven’t approached me yet. There are some talks that were going on but not really, nothing is confirmed yet,” she added.
Speaking about her connections with the housemates, especially with Pratik Sehejpal, Akasa said, ‘For me, because I didn’t do anything according to the game, I don’t know. I couldn’t bitch about people. Even if it was required of me, I used to walk out. I don’t know how to fake something, which is why you saw me with some people and didn’t see with some people. I thought even the friendship with Tejasswi was real. They only showed my connection with Pratik but I made more friends than Pratik. I had a close bond with Simba, Umar. Even with the amount of fights I had with Afsana, we did have a Punjabi connection. With Pratik, it was more than just the game. When we spoke, we were not strategizing or thinking about the game. We used to talk about life and we genuinely formed a friendship. Hell yes, the friendship will continue with Pratik for sure.”
A CHRONICLE OF INDIA’S MODIFICATION
The following has been extracted from ‘The Modi Gambit: Decoding Modi 2.0’ written by Sanju Verma. The excerpt is the book’s Foreword and is written by T.V. Mohandas Pai.
Prime Minister Narendra Modi came to power in 2014 with an overwhelming majority. People voted him in with very high expectations of change and development which sixty-seven years of Independence had not yielded. And PM Modi and his NDA government delivered. Many Indians saw development – road connectivity, pucca housing, LPG cylinders, sanitation, electrification, and financial inclusion, come to their vicinity for the first time in their lifetimes.
The perceptible upliftment in citizens’ lives prompted them to vote PM Modi back in 2019 with an even larger majority. Citizens had embraced the change, especially the previously underserved – women and rural Indians. They perceived the lack of corruption in the Modi 1.0 regime. They appreciated his prioritizing execution of development, above all else. Several structural reforms of Modi 1.0 have positively impacted the economy. Demonetization has cleaned up the black money economy leading to increased tax collections and placing cronies under bankruptcy. The GST reforms have unified tax protocols and cleaned up the system. Despite the empty rhetoric of the Lutyens media that predicted PM Modi would lose badly, in 2019, citizens voted him back based on his strong performance record in the first term and expectations of continuity in the second.
Modi 2.0 started off with a strong impetus on continued development and empowerment. Access to clean water was one of the first priorities; the Jal Jeevan Mission was launched and has already impacted four crore households. Socio-political measures like the Citizenship Amendment Act and abrogation of Article 370 are addressing long-standing issues in India. From banning the instant triple talaq to putting the houses constructed under PM Awaas Yojana in the name of the woman of the house, women empowerment continues to be a major pillar of socio-economic development. Modi 2.0 was strongly following the PM’s vision of Modi 1.0 – that by August 2022 marking 75 years of the Republic of India, no Indian would be deprived of the necessities of life. India surpassed both France and the UK to become a Top 5 economy in 2020.
The Modi government has fared well on the inflation front, with average CPI rising 4.8% per annum against 7.8% during the first seven years of the Manmohan Singh government. The former performed better on the foreign exchange front too, with Forex reserves rising from $313 billion in May, 2014, to over $600 billion in June, 2021.
Today, India hosts the third-largest startup ecosystem, after the US and China. From around 24,927 companies recognized as startups in November 2019 by the Department for Promotion of Industry and Internal Trade (DPIIT), the number has risen to 50,000 startups in June 2021. The Modi government’s flagship scheme to promote the Indian startup ecosystem, namely Startup India, has witnessed a 100%+ growth in the number of government-recognized startups in the Modi 2.0 era. With over 26 startups being recognized by the government every day, New India is rapidly growing as a startup hub; commendable, given that the Startup India initiative was launched only as recently as January 2016.
DPIIT’s Vision document of 50,000 new startups, 20 lakh direct and indirect jobs by 2024 along with 500 new incubators and accelerators, 100 innovation zones in urban local bodies and seven research parks to help startups, is certainly on track. The SIDBI Fund-of-Funds (FoF) does not invest directly into startups but offers capital to SEBI registered Alternative Investment Funds (AIFs) as daughter funds, who in turn fund startups through equity and equity-linked instruments. Out of the existing Rs 10,000 crore FoF, as of February 18, 2020, SIDBI had committed Rs 3123.20 crore to 47 AIFs. These AIFs have invested Rs 3378.47 crore into 320 startups, out of which Rs 912.91 crore was drawn from the FoF. This is a great start towards channeling domestic capital into India’s accelerating startup ecosystem.
On the food and agriculture front, the Modi government broke all records with respect to foodgrain production, with 300 plus million tonnes of output in FY21 – a first in over seven decades. In the meantime, policy makers are working overtime to boost demand, support MSMEs and invest more in health, agri-infrastructure and the rural economy. These initiatives will augment productive employment and work towards increasing incomes across India.
Amid this unprecedented development trajectory in Modi 2.0, the Covid-19 pandemic struck. Lives and livelihoods were at stake at a level unheard of in our lifetimes. The Modi government was under tremendous stress to save both – lives and livelihoods. It took a courageous decision to enter a nationwide lockdown to prevent large-scale losses and buy the time to set up the necessary infrastructure. The production of critical items like PPE, ventilators and masks were ramped up from near-zero to near-export-surplus levels in a matter of months. A Rs 30 lakh crore relief package (Central government’s stimulus plus RBI’s stimulus) consisting of a slew of fiscal and monetary measures was launched. Atma Nirbhar Bharat – the vision of a self-reliant India was launched after decades of Independence, along with an imperative to spur local manufacturing with a Vocal for Local flavour.
The second wave of Covid-19 this year has been devastating for every major country. In any country, capacity and infrastructure will always be unprepared for peak stress events such as this unprecedented pandemic. Any other leader would have thrown in the towel. But PM Modi showed extraordinary grit. The Modi government has been taking all possible actions, including launching one of the world’s fastest and largest vaccination programs. Over a billion doses were administered by October21, 2021, with a goal of vaccinating the entire adult population by the end of the year. Meanwhile, foreign policy efforts continue to successfully place India as a top, strategic ally beyond the neighbourhood.
Sanju Verma has been a keen observer of the social, political and economic changes propagated during both the Modi 1.0 and Modi 2.0 regimes. Her previous book “Truth & Dare – The Modi Dynamic” is a detailed chronicle of the Modi 1.0 era where she bases her observations and conclusions on data and facts. Sanju has made a stellar contribution with this new book as well; factual and based on data, not conjecture. It is a must read for anyone who seeks to understand the detailed strategies and vision behind PM Modi’s measures, and the impact of governance on the socio-economic development of 1.38 billion people. India requires more chronicles like this one so that citizens can track the progress of the economy and society.
T.V. Mohandas Pai is Chairman, Aarin Capital.
This book talks at length about various milestones achieved in last two years of Prime Minister Narendra Modi’s remarkable second term at the helm.Path breaking reforms like labour code, banking consolidation,denationalisation of coal, making of a V-shaped recovery the PLI scheme, eRUPI, Gatishakti Masterplan, privatization of Air India, unrelenting fight against Covid and of course, historic milestone of crossing a billion doses under world’s largest vaccination drive, reflect PM Modi’s resolute determination.
Abrogation of Article 370,Ram Mandir verdict, banning instant triple talaq, QUAD summit, victories in Bihar & Assam, massive seat-share rise in West Bengal, National Education Policy and of course, PM Modi’s massive contribution to climate justice have been discussed threadbare.
The Congress Party ruled India for decades together but even basics like toilets, sanitation facilities uninterrupted electricity and access to banking facilities remained a mirage. Prime Minister Modi’s biggest legacy is the incorruptible nature of his government where tolerance for corruption is zero.
Introduction of the book has been written by one of the tallest leaders in the Bharatiya Janata Party (BJP), B.L.Santhosh who is the National General Secretary (Organization) of the BJP. Foreword has been written by the erudite Padma Shri Mohandas Pai while Afterword has been written by ace journalist, Anand Narasimhan Managing Editor at CNN News 18. The book has some very interesting takes on Modi 2.0 by Padma Shri, Dr. Sanjeev Bagai and one of India’s most reputed wealth managers Porinju Veliyath, who also shares his insights on PM Modi’s path breaking work. Apart from the fearless journalist and now entrepreneur Rohan Dua testimonials from Padma Bhushan Dr. Devi Prasad Shetty and Ashish Chauhan CEO of Bombay Stock Exchange are worth a read and endorse the brilliant work done by the author Sanju Verma in capturing every mega achievement of Modi 2.0.
I am my biggest critique: Avinash Dagar
As part of the exclusive conversation, Avinash spoke to us about his journey from TikTok to Instagram, the challenges he faced, and much more.
Comedy Content Creator Avinash Dagar recently joined NewsX for an exclusive conversation as part of NewsX Influencer A-List. As part of the conversation, Avinash spoke to us about his journey from TikTok to Instagram, the challenges he faced, and much more. Read excerpts here:
Avinash started the conversation by talking about the kind of content he makes. He revealed, ” I started making content when I was in school. And since school, I have been the goofy kind who cracks jokes to entertain the entire class. When I found that there was such a thing as content creation on the internet, I decided to widen my audience from the classroom to the country. I was 16 years old when I started making videos and my first medium was YouTube.” The creator further said that the ban on TikTok was a major setback for him. “However, my journey has been full of experiences. I had to start over on a new platform but I wasn’t starting from scratch. I had learned a lot on TikTok. I had already posted a shoutout on TikTok to follow me on Instagram and in no time my followers increased from 7k to 35k. “
The influencer then spoke about the challenges that he faced during the transition from TikTok to Instagram. He exclaimed, ” I personally did not face any such issues while shifting to Instagram. The only thing that bothered me was the YT vs TikTok row that took place some time ago. Because of a few people’s opinions, all us content creators were being dragged into the controversy.” Talking about the backlashes he has faced over the years, Avinash said, ” We can’t keep everyone happy. My fans must not like all of my videos. I only posts the videos that I find funny because I am the first consumer of my content.” The creator went on to say that he is his biggest critique. ” Just like I am my first viewer, I am my critique. I take at least 15-20 takes for one single video.”
When asked how he earns through making content on Instagram, he replied, ” Instagram doesn’t monetize its content yet. We only earn through brand collaborations and advertisements. Getting promotions and ads depends on your work as well as your team. One thing is for sure that I wouldn’t be earning so well from any job out there. I feel extremely lucky to have chosen this field. “
Lastly, Avinash advised suggested other budding content creators to make relatable content for the audience.
The goal is to make people smile: Yuvraj Dua
Comedy Content Creator Yuvraj Dua recently joined NewsX for an exclusive conversation as part of NewsX Influencer A-List. As part of the conversation, Yuvraj spoke to us about his journey, his social media growth, content creation on Instagram and much more.
Speaking about his journey, Yuvraj said, “I did my graduation BSC Physical Science & Electronics then I dropped one year to attempt UPSC. Post that, I did my diploma in English Journalism because I had a lot of interest in cricket presentation, as I wanted to become Jatin Sapru. I wanted to stand in the ground and talk about cricket. After that, there comes a point when your heart says that my 100% passion is not in this. Comedy has been my second nature. Not just me, but most of the people in my family have this. We talk like that. I said why not explore that. I liked camera. I used to stand in front of the camera, analyse the game, and always bring humour into it. I thought there are so many influencers and content creators. Why can’t I do what they are doing?! For me, influencing and content creation is secondary. First and foremost, my passion is to make people laugh. I want to spread smiles among millions of people.”
Talking about the growth of his social media presence on Instagram, he added, “I uploaded my first video on 21st March, 2021. It was 5-10 second video. After that, I started uploading these kinds of videos. You learn with the process. There is no other way of content creation. You upload videos, check the response and take feedback. With time, I started getting more creative. I started giving more time to it. Slowly, as it became a fun thing, then it became beautiful. Especially when you have an external motivation of gaining more and more followers, then everything works out.”
When asked where and how does he find motivation to create content amid a phase when there is less engagement on posts, Yuvraj responded, “I am a firm believer of belief. If you have the belief in your ability, like I have the belief that I am producing good content, then that should resonate with people. I have the belief that I am doing good work. It is different thing that I haven’t gained that kind of recognition yet. I have a few thousand followers but I know my work is good. If I keep doing this consistently, then I shouldn’t have two thoughts about it and my belief in myself. There comes a moment of self doubt but you got to make yourself understand the importance of consistency and good, decent and honest work. If you keep doing it, you will get there one day. Consistency is very important and self doubt comes anyways. That is how the human mind is.”
Watch the entire interview on NewsX YouTube:
STUDY FINDS SELF-PERCEPTIONS OF STRESS, AGEING HAVE SIGNIFICANT INFLUENCE ON PHYSICAL HEALTH
According to a recent study, dwelling on negative aspects of ageing can have a measurable negative impact on your physical health and ability to respond to stress.
The research has been published in the ‘Journals of Gerontology’. Using daily survey data from older adults over a period of 100 days, OSU researchers found that people who reported more positive self-perceptions of ageing were more insulated from the physical effects of stress compared with people who felt more negatively about their own ageing.
“Better self-perceptions of ageing are good for your health, regardless of how much stress you have, or how much stress you perceive you have,” said Dakota Witzel, lead author on the paper and a doctoral candidate in OSU’s College of Public Health and Human Sciences.
Research on stress has long found that daily and chronic stress is linked to physical health symptoms, including higher blood pressure, heart disease, and loss of cognitive function. These effects are linked not just to objective stress, but to perceived stress: people’s subjective appraisal of an experience as stressful.
Using responses from 105 Oregon adults aged 52 to 88 who took part in daily online surveys in 2010 via OSU’s Personal Understanding of Life and Social Experiences (PULSE) study, researchers measured participants’ perceived stress and physical health over a period of 100 days, along with an initial set of questions to gauge their self-perceptions of ageing.
The questions asked participants to agree or disagree with statements like “Today, I felt difficulties were piling up so high I could not overcome them,” and “As you get older, you are less useful.”
On average, higher perceived stress was related to worse self-perceptions of ageing and worse physical health symptoms, while more positive self-perceptions of ageing were related to fewer health symptoms.
On days when individuals with more negative self-perceptions of ageing reported more stress than normal, they reported almost three times more physical health symptoms than individuals with more positive self-perceptions of ageing. In other words, positive self-perceptions of ageing had a protective effect against the physical health implications of stress.
This meant that thought patterns or conversations that reinforce or exaggerate various stereotypes of ageing physically impact people’s lives, Witzel said.
“These things are truly important for our health and well-being, not only long-term, but in our day-to-day life,” she said.
“The likelihood of reporting these physical health symptoms is significantly decreased, on average, when you have better self-perceptions of ageing,” she added.
Self-perception of ageing is an area where simple interventions can make a difference, Witzel said. An easy step is to acknowledge that putting a positive spin on the ageing process will have a real impact on your physical health. That doesn’t mean adults should dismiss real health concerns or plaster on a fake smile, she said, but they will see benefits if they consciously work to be more positive about ageing.
“It’s kind of a self-fulfilling prophecy,” Witzel said.
Opinion1 year ago
South Block’s mistakes will now be corrected by Army
Sports1 year ago
When a bodybuilder breaks Shoaib’s record
News2 years ago
PM Modi must take governance back from babus
Spiritually Speaking1 year ago
Spiritual beings having a human experience
News2 years ago
Chinese general ordered attack on Indian troops: US intel report
Legally Speaking2 years ago
Law relating to grant, rejection and cancellation of bail
Sports1 year ago
West Indies avoid follow-on, England increase lead to 219
Royally Speaking1 year ago
The young royal dedicated to the heritage of Jaipur