Week 42

Green! ♻

May 08, 2021

Good Morning,

Welcome! I hope you have your “Subah Kee Chai” ready and you're excited to read your weekly 10-minute digest.  

Unfortunately, India is suffering! The rise in COVID-19 cases is not stopping, and the death toll continues to rise. The IPL has been suspended. As a shift away from the negatives, the fintech industry is growing and so are India's efforts towards a sustainable future. I hope you enjoy your Sunday, and I hope you are safe. 🙏

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Now let’s get into the news.

Markets

Markets

A three-day winning streak was achieved on Friday as

ended the week in the green. The positive run, however, was driven by positive global cues despite the COVID-19 crisis in India. The broader BSE Sensex climbed over 250 points on Friday or 0.52%. In comparison, Nifty 50 rose 80 points or 0.67%. HDFC was the top performer in the market followed by M&M, Bajaj Finserv, NTPC, Bharti Airtel, ITC, and ONGC with shares rising up to 2.68%. On the contrary, Bajaj Auto, Infosys, Kotak Bank, and ICICI Bank were among the top losers with shares tumbling up to 2%. Global bonuses helped Indian markets significantly, as investor sentiment rose as the US and Europe eased restrictions on the movement of goods. In addition, the expectation of better US job data signaled a faster economic recovery in a number of western markets. Domestic investors, however, are still wary of future market performances as the number of COVID-19 cases in India continues to rise. With lockdowns being imposed across India, and the significant slowdown in business will likely lead to a slump in the market. Lastly, the price of gold ended the week rising almost 1%, whereas the price of crude oil slipped 0.63% to end in the red. 

COVID-19

It is bad! The

situation in India has worsened and continues to worsen as the country recorded its highest 1-day COVID deaths since the pandemic began. On Friday, the country reported 4187 fatalities and 4,01,522 fresh cases! According to a report, India has recorded more COVID-19 cases in the last 82 days than in the over a year prior to that...😳. India is

to cope with this rapid rise as hospitals across the nation are deprived of facilities, oxygen concentrators, respirators, and other important resources needed to protect individuals suffering! As a silver lining, however, the vaccine is effective against the new strain discovered in India, however experts fear that this strain is not the only strain that may emerge from this wave. It is extremely important to map other possible variants that may be currently infecting individuals across India. It is also extremely crucial for individuals to get vaccinated, when possible to protect themselves and others from being negatively affected by the virus. A number of countries including the United Kingdom, Canada, the United States of America, and Russia are sending emergency aid to India to help the country control the rapid rise in cases. 

As always, I hope everyone is doing well! I hope you are keeping safe. Keep wearing a mask, keep maintaining social distancing! Stay safe :) 

FinTech

Growth

According to the founder and CEO of one of India's growing fintech's Vivifi, India's

is one sector that has benefited from the pandemic as it has experienced a rapid rise in demand and growth. People always wonder, what really is 'fintech'? In simple terms, 'Fin' - Financial and 'Tech' - Technology. Fintech, in essence, refers to any business that uses technology to enhance or automate financial services and processes. a very popular company, PayPal is a good example of a fintech, and fun fact, PayPal was actually the first-ever fintech created! 

Despite being a cash-driven economy, India's growth in fintech has been significant, especially during the pandemic, as individuals shift towards online services and payment processes. According to fintech advocates, the growth trajectory of the fintech industry holds enough potential to drive recovery for the entire nation! Greater collaboration is needed between banks and fintech companies to create a financial system that caters to every Indian citizen irrespective of your financial position. Pushing the country towards a cashless economy, while difficult, will prove extremely beneficial in combatting significant issues such as corruption, money laundering, and tax evasion. How soon will this be achieved? Well, that's up to the Government to implement...

Green

On Thursday, Delhi International Airport completed 1000 movements using the newly introduced

service. TaxiBot is a semi-robotic hybrid special purpose vehicle that automates the taxi or 'parking' service for airplanes when they need to station at their respective gates. It is a sustainable project that has significantly reduced carbon emissions and also helped save a lot of fuel. Delhi Airport is proud of this achievement and claims that it is the only airport in the world to have reached the 1000 movements landmark. In numbers, the TaxiBot service introduced two years ago has helped reduce around 532 tonnes of carbon emissions and has also helped airlines save 2.1 lakh litres of aviation turbine fuel that is usually burnt by aircraft during taxiing. What an amazing innovation, and another reminder of the shift towards an automated world. The only worry, however, is the impact this has on the employment rates in the country! What happens to the people that previously controlled the taxi service? 

PUBG

The wait is over! If you are a

fan, then the game has returned to the Indian market with a new makeover! South Korean games developer Krafton, the creator of PUBG, on Thursday, launched the new version of PUBG in India titled 'Battlegrounds Mobile India'. The game will offer a new multiplayer experience with exclusive tournaments and in-game events, and the best part, it will be free-to-play on all mobile devices! Krafton is working with partners to ensure the correct data protection and security measures are in place to protect the consumers from any data leaks. In addition, all privacy rights will be respected, and all data collection will be in full compliance with the laws and regulations in India. Are you a PUBG fan? 

Sports

SUSPENDED! 

The Indian Premier League has unfortunately been 

as a number of players tested positive for COVID-19 forcing a number of games to be postponed. On Tuesday, a Sunrisers Hyderabad player tested positive for the novel virus hours before the team's game against the Mumbai Indians. In addition, Monday's match between the Kolkata Knight Riders and the Royal Challengers Bangalore was postponed after two Kolkata players tested positive. In a statement, the Indian Premier League said it had 'unanimously decided' to suspend the IPL till a later date. 

Seeing the rapid spread of COVID-19 in India the future of the tournament is unlikely. As a result, a number of

are offering to host the remainder of the IPL. Currently, most international players are returning home from the tournament and following the required quarantine protocols. 

The image above is updated as of the 2nd of May, 2021. Prior to the suspension, the Delhi Capitals sit at the top of the table having played their 8th game against the Punjab Kings. Shikhar Dhawan is the leading batsman of the tournament with 380 runs in 8 games. On the bowling front, Harshal Patel protects his reign at the top having picked up 17 wickets in 7 games.  

As a passionate cricket fan, it is upsetting seeing a tournament suspended, however, in these dark times, health is the greatest priority. I am wishing the speedy recovery of the players that have contracted the virus! Hopefully, the Indian Premier League can resume soon! 

Other News

1. Delivery giant,

, on Thursday, announced that it is supporting the transportation of more than 25,000 oxygen concentrators and converters to India. 

2. On Thursday,

flew a special charter to Delhi to supply 27 tonnes of COVID-19 emergency aid, including oxygen supplies, respirators, and blood oxygen saturation monitors. 

3. One of India's neighbours,

, has barred the entry of travellers from India with immediate effect due to the uncontrolled rise in COVID-19 cases.

4. From its National Emergency Strategic Stockpile,

is sending up to 25,000 vials of antiviral Remdesivir and up to 350 ventilators to India. 

5. The price of

is on fire, as fuel prices crossed the INR 100 mark for the second time since February. The price of petrol in some states sits at INR 102 per litre. 

Quiz

Quiz time! 

Saturday and Sunday, I am big. 

Tuesday through Thursday, I am small. 

Monday and Friday, I am non-existent. 

What am I?

Get thinking...! 

See you next week!

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Quiz Answer: the letter 'S'   

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Written by: Adnan Bahrainwala (Founder of Subah Kee Chai)