RBI disallows Non-Banks to load credit lines on PPIs; fintech startup owners react

Niharika Tewari
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RBI disallows Non-Banks to load credit lines on PPIs; fintech startup owners react

The note released by RBI on Monday has hit several fintech startups like a truck. The Reserve Bank of India has released a circular stating that it will forbid non-banks to load credit lines on pre-paid payment instruments.

The notification sent to many fintech companies and non-banks read, “The PPI-MD (PPI-master direction) does not permit loading of PPIs from credit lines. Such practice, if followed, should be stopped immediately. Any non-compliance in this regard may attract penal action under provisions contained in the Payment and Settlement Systems Act, 2007.”

“The PPI-MD does not permit loading of PPIs from credit lines. Such practice, if followed, should be stopped immediately.”

– The notification sent by the Reserve Bank of India.

The PPI-MD is a document that comprises rules and regulations regarding these payment instruments. Basically, according to the RBI, pre-paid instruments can be loaded using cash, debit cards, credit cards, and bank accounts but they are not allowed to be loaded using credit lines.

It is being said that the impact of this circular will majorly be seen on fintech companies that are offering credit lines in partnership with an NBFC to its customers and on fintech companies that are offering prepaid cards to their customers with a banking or a non-banking partner. It can also impact companies with a business model that offered BNPL services linked with an NBFC-linked wallet. Companies like, Jupiter, Fi, Slice, LazyPay, AmazonPay, Pay U Payments, and many more are likely to be affected by this notification.

Rohit Ramachandran, CEO of Neowise Technologies
Rohit Ramachandran, CEO of Neowise Technologies

Reacting to this notification, Mr. Rohit Ramachandran-CEO of Neowise Technologies, a banking as a service company that offers multiple payment and banking APIs to fintechs in India, exclusively told Sociobits, “It’s going to be interesting to see how the ecosystem evolves, but it’s definitely going to change the way a whole host of credit card challengers and BNPL players operate. A couple of the larger credit card challengers had already formed a co-branded credit card partnership with a private sector bank even before this circular came out and we foresee a lot more players exploring this route. However, RBI has also recently barred banks from sharing transaction data related to card spending with their co-brand partners (credit and debit cards), and how this impacts the viability of these proposed co-brand partnerships will have to be seen.”

“It’s going to be interesting to see how the ecosystem evolves, but it’s definitely going to change the way a whole host of credit card challengers and BNPL players operate.”

Rohit Ramachandran, CEO of Neowise Technologies

He further added, “We’ll probably see more fintech’s look at the NBFC license route since RBI has allowed NBFCs to directly issue credit cards as long as they have net owned funds of above ₹100 crores and receive a one-time approval from the central bank. We’ll have to wait and watch as to how liberal the regulator is when it comes to handing out these one-time approvals. However, the days of BIN sponsorship and co-branded cards at least within the credit realm seem to be numbered.”

Mr. Sarabjeet Singh, CEO of Eazr
Mr. Sarabjeet Singh, CEO of Eazr

Mr. Sarabjeet Singh, CEO of Eazr, a BNPL fintech solution that aims to prioritize health and education in the country said, “I believe that RBI has outlined the distinction between banks and non-bank issued instruments. I do not see any restrictions being imposed on the fairly successful business models which offer PPIs issued by the banks. Business models with NBFC-backed credit lines will now have to partner with banks to operate legitimately.”

Mr. Jeevan Gopisetty, the Co-Founder of Nemo, a neo-banking platform that provides financial tools and services to small Indian businesses, also reacted to the recent development, “A major blow to all the years of infra that was created. He added, “Also, RBI ruled out banking licenses to neobanks and asked to continue to partner with banks. I think the Indian startups are passing through watershed moments & when this passes we will evolve to be a mature ecosystem like the Silicon Valley.”

Mr. Jeevan Gopisetty and Mr. Rishabh Verma, Co-Founders of Nemo
Mr. Rishabh Verma and Mr. Jeevan Gopisetty, Co-Founders of Nemo

Mr. Rishabh Verma, also the Co-Founder of Nemo added, “In such unique situations, collaborations and partnerships become the key to success, this could lead to larger players becoming more prominent but fintech’s with a focused target audience can still make an impact.”

While everything seems a little vague right now, this development is surely going to impact fintech startups in a certain way. On the other hand, this will have a positive impact on banks that have a huge credit card base.

According to Inc42, the market opportunity of the fintech industry in India is expected to reach around $1.3 Tn by 2025, in which the BNPL segment is estimated to emerge as the biggest winner in this space.

Here is how you can look back at the first Instagram post you liked

Aniruddha Narkar
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Here is how you can look back at the first Instagram post you liked

There is a quote that says, ” Nostalgia is like grammar, you find the present tense but the past perfect”. We love to switch off from the present and reminisce our days in the past quite often. Quite often, we like to look at old pictures and it gives us a sense of how much times have changed.

Nowadays, apps help you go on this sweet nostalgic ride. Apps such as Google Photos and Apple Photos have features that pop-up pictures from the past time and again. It’s extremely fun to open your Facebook or Instagram and see what you were doing on a particular day, a few years back.

Some of you might have thought what is the kind of content I was interacting with when I opened my account. People even wonder what was probably the first post that they ever liked. Luckily now, Instagram answers that question for you as you can easily access that and more information from the app.

Here is how you can find the first Instagram post that you liked :

1 . Open your profile on the Instagram profile and click on the three lines in the top right corner.

2 . Tap on ‘Your Activity’.

3 . Select ‘Interactions’.

4 . Once in interactions, go ahead and select ‘Likes’.

5 . Next, click on the ‘Sort & Filter’ option and then click on ‘Sort by’

6 . As you can see in the previous image that the pictures are sorted by ‘Newest to oldest’, you just have to change this setting to ‘Oldest to newest’.

Once you hit apply, within a few seconds, your page will show you the earliest picture you liked. Not only that, it will show you all the pictures you liked from the beginning, chronologically.

You can also tap on any post and be guided back to it to have a look as to when it was posted. This works on both Android as well as iPhone. Users can also choose to participate in the current trend of revealing “what was the first post that you liked on Instagram?”, just to share a laugh with friends and family.

Google plans on charging small businesses for using its apps 

Aniruddha Narkar
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Google plans on charging small businesses for using its apps 

Google is soon going to bring a price tag to what you use now for free, The G suite legacy free edition. It consists of the email app, Docs app, and Calendar app among others.

A long-time user of all these services, Richard J. Dalton Jr. who operates a scholastic test-prep company in Vancouver, feels cheated because of this change.

“They’re basically strong-arming us to switch to something paid after they got us hooked on this free service.”

– Richard said talking about the situation.

Mr. Dalton first used Google work email for his business, Your Score Booster, in 2008. 

Google clearly wants longtime users of their G suite app ecosystem to start paying a monthly charge. The users have to pay around $6 for each business email address. Businesses have been given an ultimatum to switch to the paid service by June 27. Those who do not voluntarily switch will be automatically moved to Google Workspace. If you still fail to pay by the 1st of August, your account will be suspended.

Small-business owners are furious over this decision from the company. It’s not about the decision being a hard financial hit for them but they also don’t need that major inconvenience each month. These owners feel that the tech Moghul is being absolutely petty for a company that earns billions in profits. It applies true to some extent for a few owners as they might be first-time business owners using these apps for their workflow.

Google’s business decision of starting to charge for its existing software also proves that the company is trying to profit off the utility factor, its apps have already created throughout the years. Apps such as Calendar, and Gmail have helped users for a decade now in managing their work and schedules. Recently, it’s been observed that Google has become more aggressive with its ads and paid software. This is the reason you might come across multiple ads on the Youtube videos you are watching, as opposed to one or two earlier. 

The company with this decision is trying to compete with companies like Microsoft, whose productivity apps such as Word and Excel are extremely dominant in the market.

The company has already had to push its plans for a paid service from May 1 to August 1 due to a number of complaints from its longtime users. Google also declared that people who use their account for personal purposes may continue to do so for free and they won’t be charged. 

When Google began with Gmail and Docs in the early 2000s, they aimed at new startups and small businesses and tried to get as many people to use their software as they could. They also let companies bring custom domains that matched their business names to Gmail. Even when these apps were in testing, they put out the word that these apps will be free for life. In 2020, G Suite got a new identity as Google Workspace. The company states that over 3 billion total users, use a free version of the workspace.

Metkonnect-Emerging Global Maharashtra: A startup-investor meet organized by The Lets Rise Up Foundation and MetKonnect

Niharika Tewari
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Metkonnect-Emerging Global Maharashtra: A startup-investor meet organized by The Lets Rise Up Foundation and MetKonnect

The entire startup ecosystem has gotten a lot of boost in the past couple of years. Platforms where startups, investors, and entrepreneurs get to connect and share their knowledge ultimately build successful businesses.

The Foundation in association with Metkonnect organized an event for social entrepreneurs and startups to connect and strategize on making our society and businesses better. Titled ‘Empowering Social Entrepreneurs and Startups of the New Age’, the event is powered by Touchwood Incubation and Innovation Platform for Startups (TIIPS). The chief guest of this event was Mr. Rohit Pawar, MLA, and CEO of Baramati Agro.

It was initiated by the Lets Rise Up Foundation, in association with the Bombay Industries Association (BIA) and the Indian Chambers of International Business (ICIB). This event was held at The Club, Mumbai on 17th June 2022 and supported by eRoyal, Nobel Hygiene, Khushi Axis World, and HashTech Ventures. Free Press Journal covered the event as the official Media Partner.

The event promoted and encouraged entrepreneurs and personalities that are helping the world become a better place. It also helped in recognizing potential startups and giving them access to the right resources at the right time.

Lamp lighting ceremony by Dr. Srinivasan .R Iyengar, Mr. Bhagwan Gawai, Mr. Peshwa Aacharya, and MetKonnect Founders

Motivating Keynote Speakers

The event began with Mr. Vedang Dongare addressing the audience and offering a warm welcome to the honorable guests, investors, entrepreneurs, startups, and attendees. It was proceeded by the lighting of the lamp by, Dr. Srinivasan .R Iyengar, Director of Jamnalal Bajaj Institute of Management Studies (JBIMS), Mr. Sushil Vaishya, Founder Of MetKonnect, Mr. Vedang Dongre, Co-Founder Of MetKonnect, Mr. Bhagwan Gawai and Mr. Peshwa Aacharya.

Dr. Srinivasan .R Iyengar also addressed everyone as the keynote speaker in the crowd and motivated the startups before the commencement of their pitches. Each startup was allotted 12 minutes to present its pitches and was then questioned by the panel of investors. Mr. Nayan Bheda, a BIA member and a Startup Advisor and Investor also spoke about how startups can better manage the funding that they secure.

Startups and Investors at the Event

14 startups from different industries presented themselves at the event, this included De Vagabond, TeachUs, WE The Recycling Company, Aliste Technologies, Opportune Technologies, Connect Club, Echoboom Management & Entrepreneurial Solutions Pvt. Ltd., E-Bike Go, Woofit Pvt. Ltd, Tvashtra, PetChef, Filicious, Hobby Tribe, and Influenxing.

In Picture: Honorable Guest and MLA Rohit Pawar at MetKonnect

The investors’ panel included investors from, Venture Catalysts, Fiery Ventures, and 100XVC. It also included personalities like Mr. Aaditya Sheksharia, Mr. Peshwa Aacharya, Mr. Rajesh Modi, Mr, Ignite Dave, Mr. Narendra Ruia, Mr. Ajaykant Ruia, Mr. Rajesh Mishra, Mr. Prasanna Dongre, Mr. Anil Goyal, Mr. Aditya Pathak, Mr. Nevil Sanghvi, and Mr. Kartik Johari.

Networking Session and Award Ceremony

The event also included a power networking session in between the pitches and after the end of the event. Networking sessions played a vital role in creating valuable connections that can lead to growth in the long term. It also consisted of the ‘5 Minutes to 5 Lacs’ program, where students from Jamnalal Bajaj Institute of Management (JBIMS) and Welingkar Institute of Management presented exemplary pitches in five minutes, and investors present from Vodafone Idea Foundation offered to fund the most brilliant idea. Prince Chaudhary from Welingkar Institute of Management won this program.

After energetic and innovative pitches by the startup, Dr. Radhakrishnan Pillai addressed the crowd by highlighting the importance of an R&D budget while formulating your business model. This was followed by a pitch by the youngest entrepreneur, Krivi Nandurkar. Everyone present at the event took a look at the heartwarming journey of Nobel Hygiene, which is striving to eradicate the taboo about adult diapers.

In Picture: Mr. Ganesh Gokhale and Mr. Shubh Bansal, Founders of TIIPS with Mr. Vedang Dongare, Founder of MetKonnect

The event concluded with an award ceremony where the platform appreciated prominent personalities like Mr. Satyajit Hange- From Two brothers organic farm who won the title of ”MetKonnect Emerging Startup”, and Mr. Jaimin Shah and his team, from the edtech startup, Teach Us, also won the title of “MetKonnect Emerging Startup”. Kartik Johari- Vice President of Nobel Hygiene was awarded the “MetKonnect Social Entrepreneur”. The “MetKonnect Global Social Entrepreneur” in the men’s category was awarded to Mr. Darasing, and the women’s category was won by Dr. Rekha Chaudhari. The “MetKonnect Social Entrepreneur of Maharashtra” male and female award was titled to Mr. Mansoor Ali and Savita Tai Vora, respectively. Mr. Anil Valiv, the Founder of Positivesaathi.com, a matrimonial site for HIV Positive people, won “Maharashtra’s Lifetime Achievers Award”. Mr. Bhagwan Gawai won the “MetKonnect Global Citizen” award. Mr. Ganesh Gokhale and Mr. Shubh Bansal, Founders of Touchwood Incubation and Innovation Platform for Startups (TIIPS) also won the title of “Support for The Event” and “Esteemed Guest”.

This event helped create an engaging atmosphere between the startups, investors, and all the other prominent personalities. The ideas pitched by the startups also helped us realize what can be done to ease our everyday lives in the modern world.

Is Elon Musk really an advocate of free speech? His actions speak otherwise

Niharika Tewari
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Is Elon Musk really an advocate of free speech? His actions speak otherwise

Elon Musk makes it to the news even if he tweets or reacts in the simplest way possible. One smiley emoji from the Tesla owner and the next thing you know he is rocking headlines. He has always advocated and practiced free speech, especially through the social media platform Twitter.

In fact, to make free speech available to everyone, including Donald Trump who has been banned from the platform, Musk also made a $44 billion deal to buy Twitter. One can only imagine to what extent he might be supporting free speech but the actual story seems to be a little different.

“You may have received an unsolicited request from a small group of SpaceX employees for your signature on an ‘open letter’ yesterday and your participation in a related survey. Based on diverse employee feedback, this has upset many.”

-Gwynne Shotwell, COO of SpaceX

Recently, it was reported that Elon Musk fired some SpaceX employees that signed an open letter criticizing Musk’s behavior on Twitter. It is still unclear how many employees have been fired but as of now, five employees have been cited who were removed from the company. All of us have to accept that since the Twitter deal and maybe even before that, Musk has reacted and tweeted in an unimaginable manner where we saw a different side of him. The very statement that he didn’t buy Twitter to make money explains that Twitter is just a playground for him.

Gwynne Shotwell, the COO of SpaceX said in an email, “You may have received an unsolicited request from a small group of SpaceX employees for your signature on an ‘open letter’ yesterday and your participation in a related survey. Based on diverse employee feedback, this has upset many.” The email sent to SpaceX employees also stated that the letter “made employees feel uncomfortable, intimidated and bullied, and/or angry because the letter pressured them to sign onto something that did not reflect their views.”

The letter reported by TheVerge read, “As our CEO and most prominent spokesperson, Elon is seen as the face of SpaceX — every Tweet that Elon sends is a de facto public statement by the company. It is critical to make clear to our teams and to our potential talent pool that his messaging does not reflect our work, our mission, or our values.”

“It is critical to make clear to our teams and to our potential talent pool that his messaging does not reflect our work, our mission, or our values.”

– Letter circulated by SpaceX employees

It was also reported that this letter was circulated to around 2,600 employees of SpaceX on SpaceX’s Microsoft Teams channel and it not only generated more than 100 comments but employees also accepted of being embarrassed by their head’s behavior.

The letter also listed three ways or “action items” that can address this situation. One, to publicly address Musk’s behavior and condemn it; two, hold the leadership equally accountable for it; or three, define the company’s ‘no-asshole’ and ‘zero-tolerance’ policy, and enforce them accordingly.

It looks very simple that the employees simply did not like their CEO’s behavior and speaking of free speech, they were putting it out to the world. Getting fired for this seems too extreme for a reaction.

Elon Musk previously has made jokes or commented in ways on certain situations that are usually not to be joked about. Recently, a controversy relating to Elon Musk was circulating over the internet that alleged the Tesla owner of flashing himself in front of a flight attendant in 2016. He also offered to buy her a horse if she agreed to engage sexually with him. To this, he responded on Twitter, “Finally, we get to use Elongate as scandal name. It’s kinda perfect.” replying to a tweet that he posted from 2021 saying, “If there’s ever a scandal about me, please call it Elongate.” It is also said that the company paid $250,000 to settle and silence the flight attendant and this is not the only sexual misconduct story that has emerged with the company’s name attached to it.

Looks like Musk wants free speech just for himself. Can you also imagine a world where Twitter is run by Musk? Sounds a little dangerous. The word ‘free speech’ seems too little convenient for Musk and nobody likes that which is also why he is being called a hypocrite for all the right reasons.

How to create your digital avatar on Instagram

Aniruddha Narkar
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How to create your digital avatar on Instagram

Instagram now gives you the ability to create your own 3D model to represent yourself. You can go crazy with customizations on this one. The company has given its users the liberty to choose from what their character’s hair would be like to the lines on their skin.

Users will also be able to dress their character the way they like and can choose to edit their appearance, hairstyle, or clothes as and when they want. This is Instagram’s version of Snapchat’s ‘Bitmoji’ which is quite popular.

Here is how you can create and use Instagram’s digital avatar:

1. Open your Instagram profile and click on the three horizontal lines in the top right corner of the screen.

2. Choose the settings option from the pop-up menu.

3. In Settings, Click on the Account settings.

4. There you will come across the Avatar option.

5. Here, you can get quite a lot of customization options from hair, nose, body, and outfit to even ear piercings. 

6. After you are done with making your Avatar, press done and then save changes to use your Avatar. 

This Avatar of yours can also be shared on stories and DMs. On Instagram stories, your Avatar can be found in the stickers option. Similarly, on DM, you can access your Avatar through the sticker icon in the textbox at the right corner.

Instagram is doing a great job of learning from other companies and trying to make their product better and more relatable. With the addition of these digital avatars, users and especially young users will be able to express themselves in a newer, more fun way.

This news also comes in after Instagram’s parent company, Meta, announced that they will be starting their own digital clothes stores where people can buy branded clothes for their avatars in exchange of real money. It’s going to be interesting to see where does this go from here and what commodities will be available to us in the future through these apps.

Featured Image Credit: Meta

Google contractor claims he was fired for reporting cult activity

Aniruddha Narkar
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Google contractor claims he was fired for reporting cult activity

Google has been in deep waters lately regarding the legal issues they are facing. The woes began for the tech giant when reports came out of them firing an engineer, among many other things, who claimed that he came across a sentient AI on the platform. Their reputation further derailed when they had to pay a whopping $118 million to settle a gender discrimination lawsuit.

Yesterday, A former Google contractor filed a lawsuit against the company, stating that he was wrongfully fired. He says that the reason behind him getting fired is that he called out eccentric cult-like activity in the company. Kevin Llyod, the former employee in question, talks about a weird group in the lawsuit. (voiceoverherald.com) He claims that there are at least 12 members in this religious sect known as the ‘Fellowship of Friends’ (FoF).

The lawsuit talks about how this group of people seems to have an extremely high level of influence in the company. Fellowship of Friends is a religious organization that is based in a tiny town in the Sierra Nevada. It seems that the organization has somehow found its way into the company as well. According to Llyod, there are around 12 fellowship members who have worked for the Google Developer Studio (GDS). 

The religious group in question believes that higher consciousness can be achieved by embracing fine arts and culture. Due to these exclusive practices, the group has come under the radar of an investigative Spotify Podcast, which promises to reveal the cult’s secrets. Lloyd’s report talks about his wrongful termination because of calling these practices out, he mentions both Google and his contracting agency ASG in the lawsuit. He also specifically talks about the emotional distress he faced as well as the company’s failure to protect him against discrimination. 

A Times report talks about how the fellowship members hold roles at Google’s company events. These roles include working the registration desk, taking photographs, playing music, providing massages as well as serving wine. It also alleged that Google buys this wine from a winery run by one of the members of the fellowship. With this news out, another contractor Erik Johanson told Times about Google’s partnership with ASG that helps the GDS team to hire more FoF members. Apparently, these contractors are hired with far-less scrutiny and a far less rigorous onboarding process.

Lloyd claims in his report how he was immediately fired after he complained about the group. His complaint was met with indifference and there was no help or explanation provided to him. Google, responding to Llyod’s claims says that he was fired for performance issues, refuting any other allegations. Lloyd has also spoken about his experience in a Medium post.

Top 9 Edtech startups that are revolutionizing education in India

Angel Dias
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Top 9 Edtech startups that are revolutionizing education in India

Education is irreplaceable, even though many people underestimate its value these days due to the “dropout” label. Instead of just acquiring a degree, people should update their talents.

Schools and universities are vital, but so are the skills that they do not teach us. India’s premier edtech startups are transforming the country’s educational landscape. They’re changing the way people learn. And this helps to ensure that Indian children and youth have a bright future.

India has a persistently unbalanced pupil-to-teacher ratio, which jeopardizes pupils’ learning opportunities in schools. Technology-driven learning apps are leveraging gaming features like point-scoring, interaction with others, personalization, and data-driven insights to enhance the learning process for students and refine their fundamentals in many disciplines to counteract this skewness. These apps are well-known for their services to help students perform better in class.

In India, edtech startups are becoming a key business sector. The Indian education sector was valued at $91.7 billion in FY18 and is predicted to grow to $101.1 billion in FY19, with the edtech market expected to grow to $4 billion by 2025. Here is the list of the top 9 edtech startups in India:

Byju’s

According to the company, 93 percent of parents noticed a significant improvement in their child’s grades after using the Byju’s app. Byju’s has 15 million registered users, 900,000 of whom have paid annual subscriptions, with an 85 percent renewal rate. According to the firm, the average app engagement rate is 53 minutes per day.

Byju’s is a Bangalore-based edtech business created by Byju Raveendran in 2011. It currently has $5.4 billion in total equity. BYJU’S has also received numerous accolades, including the CRISIL Emerging India Award and the Deloitte Technology Fast 50 Award. It’s available for both Android and iOS.

Unacademy

Hemaash Singh started Unacademy as a YouTube channel in 2010, and it has since grown to become a household name in India’s education technology sector. It is a well-known e-learning startup and one of Bangalore’s leading edtech firms.

To date, Unacademy has taught more than 30,00,000 (3 million) students. It has partnered with some of the most knowledgeable teachers to provide tutoring to its pupils. There are approximately 2400 online courses available. The majority of the courses on this platform are free; however, certifications may need payment.

The purpose of Unacademy is to provide free education. It has also dabbled in a variety of industries, including banking, CA, CAPF, UPSC, CLAT, CAT, JEE, pre-medical, and others. Students can follow teachers to get direct courses from them, and the video tutorials are available in a variety of languages. Unacademy’s business plan is mostly focused on the platform’s plus subscription function.

Unacademy is a Bangalore-based edtech startup that acts as an online learning marketplace for courses. Heemash Singh, Sachin Gupta, and Gaurav Munjal founded it. In 2015, the YouTube channel was converted to an online learning platform. Unacademy’s YouTube channel still has a lot of videos.

iQuanta

The largest online CAT preparation community in India is iQuanta. Mr. Indrajeet Singh, the founder, and CEO of iQuanta is one of India’s top five young entrepreneurs. He was dubbed the “Wizard of Quants” for his ingenious shortcuts and unusual ways. iQuanta’s mission is to make high-quality education and its unique pedagogy affordable to anyone interested in taking competitive tests. iQuanta is a start-up Edtech firm.

iQuanta was founded in 2017 and has since grown to a community of 3.5 lakh+ aspirants from over the world, with 10,521+ IIM calls and 1000+ IIM converts in just 5 years.

TrainerCentral

TrainerCentral is a Zoho app that seeks to revolutionize how people educate online. This all-in-one online training platform gives solopreneurs, edupreneurs, and anybody else who wants to share their knowledge with learners all over the world the tools they need.

With extensive integration features, the platform provides tools to enable teachers to construct a fully prepared online training business. Trainers may use one unified platform to construct their own website, add content, develop course curriculum, host live classes, manage learner communications, and certifications, collect learner fees, and much more.

TrainerCentral aims to reduce inefficiencies created by fragmented products as well as the technical challenges of launching an online training firm. The built-in live classroom feature, which includes chat and payment gateway integration options, benefits both instructors and students. TrainerCentral is a hit with online trainers all across the world, as seen by its 30 percent month-to-month growth. TrainerCentral offers a free 15-day trial to let you get to know the platform.

UpGrad

UpGrad is an edtech portal that offers higher education courses online. It offers a fully immersive learning experience by utilizing cutting-edge technology to power well-designed courses. Ronnie Screwvala, Mayank Kumar, Phalgum Komapalli, and Ravijot Chugh created UpGrad in 2015.

Next Education

Next Education is a Hyderabad-based learning website that caters to K-12 children through technology-based education solutions. It was created in 2007 by Beas Dev Ralhan and Raveendranath Kamath.

TeachNext, LearnNext, MathsLab, ScienceLab, and EnglishLab are just a few of the top products available on Next Education’s platform. More than 6,000 schools across the country use these items.

The study materials and products are written in 8 major Indian languages and cover the CBSE, ICSE, and 23 state boards’ syllabuses. The technology platform used by Next Education is built on Linux and open-source resources.

2D and 3D visuals, interactive content that meets international standards, voice-overs, clear sound, and a unique course design that is conveniently accessible via an included IR remote are among the other technological advancements on the app. The corporation has spent over Rs. 400 crores on R&D alone, as well as more than Rs. 30 crores on marketing.

Leverage Edu

In less than a year, Leverage Edu has evolved from a college admissions portal to a full-stack marketplace. Akshay Chaturvedi and Aman Arora established Leverage Edu in 2018.

Through mentorship products, end-to-end college entrance counseling, programmes to help students become first-job ready, and one-to-one virtual advisory for numerous career streams, the platform employs an AI tool to assist students in their careers.

The app features over 1500 mentors, including people from Ivy League universities and companies like Apple and Goldman Sachs. “The platform is in the process of executing an inspiring product plan,” the creator was reported as saying. “We will continue to aggressively scale and bring aboard amazing talent, invest in consistently bettering our experience, and do more of what we are strong at!”

NoPaperForms

NoPaperForms is a SaaS-based enrollment automation service firm to revolutionizes the admission process in Indian and international educational institutions.

The platform enables institutions to improve their outreach skills, recruitment efforts, customer service offers, and overall outcomes. The whole thing is completely transparent.

NoPaperForms claims to have worked with over 190 universities and processed over 350k queries. It has got more than 1.2 million applications and has risen to over Rs 100 crores in a year. After raising Series B funding in December 2018, NoPaperForms was able to achieve this valuation.

Quizizz

Quizizz is an interactive teaching tool that enables teachers to create interesting student-paced formative evaluations for students of all ages. Any browser, PC, laptop, tablet, or smartphone can access the website.

Teachers can use the platform to turn their students’ assignments and assessments into self-paced games by combining game design components. Then there’s the option of receiving immediate feedback. Teachers can build their own quizzes or choose from millions of quizzes provided by other educators.

Quizizz’s goal is to motivate students and assist them in their development. Quizizz has over ten million users, and its solution is widely used in schools in the United States.

This brings the list of India’s top 9 edtech companies to a close. Although India’s education system is undergoing a seismic transition, Indians continue to face outmoded teaching methods and ineffective learning strategies. In addition, the system encourages unhealthy competitiveness among students. Edtech startups are slowly but steadily altering everything for the better.

TikTok responds to Facebook’s potential redesign

Aniruddha Narkar
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TikTok responds to Facebook’s potential redesign

The long-drawn battle between TikTok and Facebook to become the number one app with the most engagement continues. Previously, TikTok and Google were at loggerheads as Youtube announced their staggering number of active monthly users.

Meta, Facebook & Instagram’s parent company, has decided to take TikTok heads on. Facebook is planning to redesign its feed and make it more videos oriented. They are also planning to tweak their algorithm a little bit. This does sound a lot like TikTok, and that’s what the company is trying to do here by competing directly with the Chinese media giant.

Currently, Facebook’s home page feed only focuses on showing the users, people, and pages they follow.  They plan to tweak the app in such a way that the algorithm will push new types of content or new creators to the users. The promoted content will still be something that the user cares about. Reports state that Facebook’s goal here is to shift the app into a ‘discovery engine’, similar to TikTok’s ‘For You’ feed.

“a lot of where we’re going with Facebook is trying to bring you the best content that’s going to really cater to your interests, but then making it super easy to share that and discuss and connect with other people in your network over that.”

Tom Allison told The Verge.

This design change also looks to bring back Facebook and Messenger as one entity, as they were separated to be two apps, eight years ago. The interface of the app will be made more visual and appealing aesthetically as well as Facebook’s main tab will have a mix of stories and reels above recommended posts. Instagram has already taken this route and has started emphasizing on videos more. Recently, they extended the reel time and also introduced a new feature of pinning your posts on your profile. 

Speaking about the same to CNBC, TikTok’s president of global business solutions, Blake Chandlee, spoke about this comparison and said, “ Facebook is a social platform. They’ve built all their algorithms based on the social graph. That is their core competency. Ours is not. We are an entertainment platform; The difference is significant.” Mr. Chandlee, before moving on to TikTok in 2019, was an executive at Facebook for more than 12 years, leading their global partnerships.

Tom Allison, Meta VP in charge of Facebook, believes that their company failed to take notice of just how big of a threat TikTok was becoming. It’s interesting to see this race between the top apps in the world, trying their best to get their user’s undivided attention. TikTok is smartly trying to avoid the situation by stating that they just want to entertain people and nothing else.

Meta’s new fashion store will sell Balenciaga and Prada

Aniruddha Narkar
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Meta’s new fashion store will sell Balenciaga and Prada

If you have a fashion bug in you and you have wondered, how would I dress the digital version of me, then Meta has the answer for you.

The CEO of Meta, Mark Zuckerberg announced that the company is going to start its own digital marketplace. This digital marketplace in Metaverse will sell clothes and will boast big brands such as Prada, Balenciaga, and Thom Browne. Coincidentally, when Meta changed their name they tweeted at Balenciaga saying “Hey @Balenciaga, what’s the dress code in the metaverse?”. And now that the brand is in partnership with Meta, Balenciaga CEO Cedric Charbit stated that

“When Meta tweeted, we were instantly into it. Web3 and Meta are bringing unprecedented opportunities for Balenciaga, our audience, and our products, opening up new territories for luxury.”

Meta is coming out with its online fashion store next week. Mr. Zuckerberg and Eva Chen who is Instagram’s vice-president of fashion partnerships even flaunted a few of the fashion options on Instagram Live. These clothes will be available for your digital avatar in the Metaverse and you can customize them as you want. Maybe a digitally-rendered, cooler version of yourself, the sky is the limit here.

The store will offer you branded clothes which you can buy for your character using real money. With this, your digital versions can be dressed the way you want,  across Instagram, Facebook, and Messenger. Balenciaga, Prada, and Thom Browne are the first big fashion brands that are going to come aboard the Metaverse fashion ship when it’ll launch. Users will still be able to access the current free clothing items.

Image Source: Meta

The items in the store will range from $2.99 to $8.99 and of course the price fluctuates according to the brand name. Mark Zuckerberg talked about their new project and said, “We want to create a marketplace so creators, over time, can design clothing and sell it. A lot of the dream is to make it accessible to anyone.”

Users from The United States, Canada, Thailand, and Mexico will be the first ones that will get to use these features. Meta plans to expand with more brands and also bring the touch of virtual reality to it with the help of its Quest headsets.

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