Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power
Last Updated: March 15, 2023 / 10:16 AM IST
As businesses grow and become popular there is a whole new world of Jamtara (remember the Netflix series?) techies planning a sophisticated con. This lending fintech startup has been creating multiple awareness campaigns for its users and the public just to expose how some fake callers are using this startup's name to offer loans and con people. Apparently, the con-callers are using a very similar name to offer loans and asking for OTPs to approve the loan. The issue came to light when one of the executives of this very own startup got a call from the scamsters asking if there is a need for a loan. The fintech is having sleepless nights to nip this issue!
Much ado about nothing
AI is the flavour of the season. While startups were putting blockchain in their bio to improve their chances of securing funding some time back, the new buzzword they are milking is AI. What's interesting is that even multiple government departments want in on the AI craze. Top AI researchers in the country say they get summoned by different arms of the executive now and then for suggestions. There's a lot of brainstorming that happens. But, the needle rarely moves. "The terminology used to describe intended policies has been changing for the last 5 years, but where's the action?," asks an exasperated soul. However, they are also hopeful that the focus on AI in the latest budget might help turn a new leaf.
So, which version is it finally?
It was quite a surprise for stakeholders when MeitY decided to do a consultation on Digital India Act, even before the government released the bill. According to insiders, the need for pre-consultation came because, the government wants to take in inputs from stakeholders and incorporate them in the final version of the bill for consultation. A birdie told us that the current form of the bill that is doing the rounds of the ministry is the third version of the Digital India Act. To avoid any further such extra versions of this "extremely-complicated" bill, the ministry hopes that the inputs from these consultations will come in handy.
An unexpected crash
Turmoil continues at a home-grown social platform. There have been senior exits for a few months. Now, we hear that the multi-deals they made with brands are also being withdrawn. There are also rumours that a few senior executives from the company allegedly indulged in kickbacks. Does this story sound familiar to the deterioration of a major ad network? Oops! Did we spill too many beans?
Problem of plenty
Senior marketers and researchers are joining advertising agencies. We hear that many senior marketers from slow-growing categories are aggressively looking at joining agencies in advisory roles and CXO levels. There are also new agency CXOs who have come from different sides of the business. Most of these appointments are happening based on old friendships, is what we hear. However, we wonder what agencies will do with so many CXOs. As they say, too many cooks...
Will the funding crunch play spoilsport?
Many in an opposition party down south believe that the victory is well within their reach and they hope the fight for the CM post between the two lead contenders will be settled amicably and the party high command will be forced to pick the candidate who is said to command the support of most MLAs. But, the other one controls the treasury which is super crucial in the elections of this state.
So we hear, the former is desperately calling his well wishes and others for election funding, but apparently no one is sending any money. With Assembly elections, less than 50 days away, buzz is that this frontunner is struggling really hard to mobilise some money to help those who are close to him. Last heard - no luck so far.
Top cop to a mere constable!
A top cop who has quit IPS a year ago to join politics has realised that it is a different game altogether. He was Commissioner of Police and wielded enormous powers. Had cultivated media and some civil society groups. Was under the impression that he could easily mobilise the masses to realise his long cherished goal of becoming a law maker from a law enforcer. Joined AAP and no one took him seriously there. He had kept a secret line of communication open with both Congress and BJP. Congress cold shouldered him after he demanded too much from them. The BJP took him into party fold just to embarrass the AAP. After joining the BJP, he is slowly realising that he is like a benched employee in IT firms!
At BJP meetings and offices, no one cares and they treat him like an apprentice.
The latest joke is “for him it is like a constable at the office of Police Commissioner!”.
Note to the Readers : Chances are you love a juicy story as much as we hacks do and you might have one to
share. Please share the story in an email to MCInsider@nw18.com.
Also, spare a moment to tell us what you think of this series. Send your hosannas and howls to the same email address.