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  • Bit by Bit 21st Sept || Social Stock Exchange framework by SEBI || Flipkart now sells medicines too & More

Bit by Bit 21st Sept || Social Stock Exchange framework by SEBI || Flipkart now sells medicines too & More

Author

BGS Committee
September 21, 2022

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Good Morning! India lost against Australia yesterday, but bit by Bit will never stop winning your hearts.

So, here are:

"5 amazing stories in 5 minutes to make you future ready"

Happy reading!

MARKET DATA

  • BSE SENSEX : ₹59,719.74 (+0.98%)

  • NIFTY 50 : ₹17,816.25 (+1.10%)

  • NIFTY BANK : ₹41,468.30 (+1.38%)

  • USD/INR : ₹79.754 (+0.07%)

  • BRENTOIL : $90.69 (-1.42%)

  • MCXGOLD : ₹49,211 (-0.18%)

  • FII Net Cashflow : + ₹1196 crores

  • DII Net Cashflow : + ₹132 crores

(Market data as of 11:00 PM on 20th September 2022)

ECONOMY

The Story:

The framework comes after the SEBI notified rules for SSEs to provide social enterprises (SE) with an additional avenue to raise funds.

  • Under the rules social enterprises (SEs) eligible to participate in the SSE will be entities non-profit organisations (NPOs) and for-profit social enterprises—having social intent and impact as their primary goal.

  • 16 broad activities are allowed including eradicating hunger, poverty, malnutrition, LGBTQIA+ etc.

SSE is a novel concept and idea that was first floated by Finance Minister in the Budget speech for the financial year 2019-20. It is meant to serve the private and non-profit sectors by channelling greater capital to them.

Key Highlights of the Framework

  • NPOs should be registered as a charitable entity, and registration certificate must be valid for next 12 months.

  • Age of the NPO should be "minimum of three years".

  • SEs raising funds using SSE should disclose Annual Impact Report within 90 days from end of financial year. NPOs raising funds through the issuance of Zero Coupon Zero Principal Instruments must disclose their Vision, Target Segment, etc

PHARMA

Key Facts :

  • On September 20, local e-commerce site Flipkart announced the release of "Medicines" via its app through Flipkart Health+.

  • Customers can now order more than 48,000 prescription medications using the Flipkart app.

  • Through the new app-in-app experience enabled by Flipkart Health+, customers in India will now have access to 83,000+ medications and healthcare products through Flipkart.

The Story :

More than 48,000 prescription medications may now be ordered by customers, including patients and caregivers, owing to user-friendly features like "hassle-free upload of doctor prescriptions, effortless checkout procedure," different payment methods, Flipkart Health+ Wallet, etc. Additionally, Super Coins can be used by Flipkart Plus users to redeem discounts.

Customers will be able to access the facility from more than 20,000 different pin codes, including those in distant locations, providing millions with access to medicines, wellness goods, and healthcare supplies at affordable prices.

The Flipkart Health+ application, which drives the platform's ability to sell medicines, requires all of its vendors to adhere to strict quality control procedures. Adequate safeguards have been put in place to protect data security through multilevel regulations and encryptions, keeping the importance of data privacy in the healthcare sector in mind.

INDUSTRY

Key Facts:

  • Sales of the small car segment increased but share in the overall share domestic passenger market decreased.

  • Five years back the small car market segment in the overall passenger market is 45-46% but now it falls to 38%. (SUVs are the largest selling segment with a 40% share)

  • The cost of these vehicles has risen over the previous two to three years at a higher rate than income, and compliance with new regulations, such as safety standards and pollution limits, has decreased. the affordability.

The Story:

Shashank Srivastava, Maruti Suzuki India Ltd Senior Executive Director (Marketing & Sales), said that sales of the small cars segment in India is increased but the actual number is different, the share of small cars in the overall market is fall to 38% from 45% in last three years. Shashank said that we are certain that the market's demand will continue to be robust and expand because future economic expansion in India is expected to increase demand for transportation and youth coming into the workforce every year and new workforce create demand for cars, as India GDP per capita is not high so most of the workforce is young and less income only afford small car segment.

There are many reasons behind the fall in the overall market share of the small cars segment Over the past two to three years, the price of these vehicles has increased faster than income, and compliance with new laws, such as safety standards and emission limitations, has declined.

TECH

Key Facts:

Google announced that it would begin a pilot to allow fantasy sports and rummy apps on the Play Store in India. Industry experts stated that Google's approach is "clearly discriminatory", and that the tech giant should take an inclusive approach by including other games of skill under the umbrella of its pilot for local developers.

Regional language social gaming platform WinZo has sought an injunction against Google’s decision to permit daily fantasy sports (DFS) and rummy in the project on its Play Store.

The policy excludes a large sector of real-money games that have been classified as games of skill, making it unfair and restrictive, Saumya Singh Rathore, co-founder of WinZo, told ET.

This effectively sends out a message that all other real-money games are not legal, even though they are constitutionally protected by the Supreme Court as games of skill,” she added.

Real-money games are ones that charge an entry fee from players, unlike casual games that primarily depend on advertising revenue. The Indian online gaming industry has grown from strength to strength garnering over 300 million downloads.

Want More Bits?

The shirt features several hues of the recognisable and beloved blue colour by fans for a look appropriate for the game's champions. The forthcoming T20I series against Australia and South Africa will have the Men in Blue wearing the same jersey.

The kit sponsor said in a release that the shirt "pays respect to the legions of admirers that span different genders and age groups, and transcend geographical borders." The statement said, "It is fashioned with a pattern of equilateral triangles, a universal symbol of the blend of energy, spirit, and power,that honours the unwavering support of the supporters who have stood by the team through thick and thin.

The snapshot includes Suryakumar Yadav, Hardik Pandya, and Indian captain Rohit Sharma, who were all posted by BCCI on their official social media accounts. Women's cricket stars including Harmanpreet Kaur, the captain, and Renuka Singh were among those in the photograph.