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In today’s newsletter: 

• The Moneycontrol Startup Conclave 2024 is here
• Public repository for digital lenders soon
• Can Nandita Sinha bring Myntra magic to Flipkart Fashion?

P.S: Sweet victory for India! The Indian hockey team has clinched the bronze medal at the Olympics. Will the medal tally grow? Scroll down for more

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What if you had to meet the biggest newsmakers of the Indian startup ecosystem on a single stage?

After a chilly funding winter, India’s startup ecosystem is finally thawing. IPOs, secondary market buzz, and fresh funding rounds are painting a promising picture. 

But the landscape has changed. Profitability is king, and startups are tightening their belts.

• To navigate this dynamic landscape, India's brightest minds are converging at the Moneycontrol Startup Conclave 2024

We've assembled the who's who in business, policy, and investing. From policymakers like Priyank Kharge and Amitabh Kant to startup titans like Sriharsha Majety (Swiggy), Sahil Barua (Delhivery), and Sameer Nigam (PhonePe).

• Hear from top VCs like Sumer Juneja (SoftBank), Sanjay Nayar (Sorin), and Shailesh Lakhani (Peak XV) on what they're looking for in today's market

• Discover how AI is reshaping industries and what it means for the future of business

We also have a special ‘heart-to-heart’ between Narayana Health founder Dr Devi Shetty and his son Viren Shetty.

Stay tuned for detailed coverage and insights from the country’s biggest changemakers in tomorrow’s Tech3 edition.

The Wild West days of digital lending are coming to an end. 

The RBI governor Shaktikanta Das has proposed creation of a public repository for digital lending apps (DLAs).

• This repository will only feature DLAs that are run by RBI-regulated entities
  
  
• The directory will be a living document, constantly updated by banks and NBFCs

Consumers can check the list to ensure they're dealing with a legitimate lender rather than a fraudulent one.

• Why now? The RBI's crackdown is part of a broader effort to enhance digital lending safety, ensuring borrowers fully understand the terms of their loans

This announcement follows previous initiatives, such as the proposed Digital India Trust Agency (DIGITA), aimed at combating illicit lending practices.

• Many shady apps have been operating illegally, imposing exorbitant interest rates and harassing borrowers

The central bank is also expanding UPI's reach with a new "Delegated Payments" feature. 

• Soon, you can add family and friends to your UPI account, allowing them to make payments directly from your linked bank account

Find out more

When you're good at something, do great work, and deliver results, you're often rewarded with…more work.

Earlier this week, Myntra CEO Nandita Sinha was also appointed chief of Flipkart Fashion. While the two roles might seem similar, they are vastly different.

“Right now is a learning phase for me on the Flipkart side. The job of both the platforms is very different, both of them play a very different role in the fashion industry so we have to keep building,” Sinha told us in an interview.

Myntra caters to a slightly premium customer base, while Flipkart Fashion targets mass market shoppers.

Despite the differences, Sinha has a common goal: increasing e-lifestyle penetration. 

• Currently at 13%, this figure is projected to climb to 18-22% by 2028, according to a joint report by Bain & Company and Myntra

• India's e-lifestyle market is estimated to be around $40-45 billion in size by 2028, up from $16-17 billion currently

The report also delves deeper into Gen Z consumer behaviour. On average, a Gen Z shopper spends around $7-8 per purchase, nearly half of the $14 spent by the average millennial consumer.

Dig deeper

Aisi dhakad hai (she’s bold)… the song from the Aamir Khan-starrer Dangal, best explains how wrestler Vinesh Phogat has been in the ring and beyond. 

• Her unwavering determination and grit have made her a darling of brands—gold or no gold in the Paris Olympics

Experts predict a surge in endorsement deals for Phogat, who has already garnered a significant following.. 

Find out more

• ISRO will offer a free five-day online AI and ML course from August 19-23 to foster innovation within the space sector through its IIRS outreach program.
  
  
• Wipro said it partnered with US-based Cyble to enhance enterprise cybersecurity risk management through AI-driven threat intelligence solutions.

Can lightning strike twice? 

India’s golden javelin thrower, Neeraj Chopra, is set to find out. 

The Olympic champion takes aim at defending his title tonight at 11:55 PM at the 2024 Paris Olympics. 

Will he script history once again? Tune into JioCinema for all the action

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