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The Story of Indian Banking Failure



Story of Indian banking failure

Did you know that the first Indian bank failure was in 1868?

Did you know that there were 900 bank failures in the 12-year period between 1935 and 1947?  Unfortunately, this trend of Indian banks failing continually makes headlines in major newspapers and magazines today!

If you have been anxiously reading newspapers and magazines and watching the news wondering, “why is this the case?” You’ll be intrigued to learn that there have been many reasons why Indian banks fail, even today! 

One of the main reasons why Indian banks fail today is corruption! “Ok, so what else is new in India? 

The first Indian bank to fail was in 1868. It was the Bank of Bombay. The British East India Company used this bank to save and invest the money that they made from ‘trading’ with India’s princes and kings. 

But corruption comes in many forms!

“Corruption in India is nothing new! It’s been in existence since the country’s inception in 1947, but how did corruption lead to so many Indian banks failing?” 
For example, corruption isn’t just about taking bribes or looking the other way when organizations or people commit shady practices. Corruption is also about poor regulation, little or no supervision, no accountability, and misuse by powerful people.

But corruption
Source: Freepik

The second Indian bank to fail…

Believe it or not, the second recorded case of a major bank failure was in 1938. It was Travancore and Quillon National Bank (TNQ). This megabank formed when two financial heavyweights Travancore National Bank (est. 1912) and Quilon Bank (est. 1919) ‘married.’ 

The result was a super bank. It was India’s first megabank. TNQ bank was (at the time) India’s 4th largest bank. 

But alas, the divorce occurred a few short months after the marriage. TNQ bank officially failed on June 21, 1938. Its owners were KC Mammen Mapillai and CP Mathen. They soon exchanged lavish mansions for tiny jail cells.

The newly formed RBI (1935) then busied itself with answering one main question, “what caused TNQ bank to fail?” There were many reasons for this. One was bad publicity on the part of the then Dewan (ruler) of Travancore state CP Ramaswami Iyer. But one of the main reasons why it failed is the same reason that caused India’s bank to fail today!

Also read: Budget 2021: a Stimulus or an Inflationary Borrowing (Beg, Borrow, Steal?)

TNQ had questionable financial foundations at best!

That’s right, TNQ officials cooked its balance sheet and books to make the bank’s financial fundamentals look rosy when this was really not the case! What worsened matters was the fact that the bank was buying up its own shares to make it look richer. This could only go on for so long.

TNQ bank had bought up all of its shares by May 1938. And, guess what? Bank officials had taken out big loans to fund all of this!

The RBI offered to bail TNQ bank out on the condition that its officials provided them with transparent and accurate information about its operations and financial situation. TNQ bank refused! 

The governor of the RBI at the time was James Taylor. He fought TNQ by passing a bill that would force Indian banks to be more transparent. It was the Banking Regulation Act

The act officially became law in 1949.

The RBI has always struggled in trying to regulate Indian banks

Banks failed in the droves after that

Banks failed in the droves after that!

Precious little had changed in terms of rules and regulations for Indian banks in subsequent years. The evidence spoke for itself.

Palai Central Bank went belly-up in August 1960. The RBI got tired of seeing small and large banks fail left and right. So it decided to force many banks with shaky financial fundamentals to close! 

The RBI went one step further. It sought to introduce some stability to Indian banks by implementing rules for deposit insurance in 1962, All banks were required to follow it, at least in theory!

Well, it looked like some banks were actually starting to follow the rules for deposit insurance! The evidence spoke for itself! 

The RBI categorized 566 banks in 1951. 474 of them were deemed likely to fail. The scenario was much different in 1967 when only 20 out of 91 banks were deemed likely to fail.

Yes Bank serves as a symbol for all of what’s wrong with Indian banks today

If you were shaking your head thinking to yourself, “all Indian banks are mired in rot and corruption. Why single out Yes Bank?”

What is up with Yes Bank?

All of the rot that currently plagues Indian banks can be summed up with the failure of Yes Bank!

the story of ye bank

Well, the mess started on March 5, 2020. It was on this fabled day that the RBI decided to suspend Yes Bank’s banking operations for one month (30 days to be exact!)

But the RBI went one step further by finding a new administrator for the bank. His name was Prashant Kumar and he was the State Bank of India’s (SBI) Chief Financial Officer (CFO.)

Well, the RBI was somewhat flexible during this 30 day suspension period. It did allow depositors to withdraw up to 50,000 rupees. This was the limit for each individual depositor.

The RBI decided to do some financial restructuring as part of its plan to bail Yes Bank out. For one thing, the State Bank of India would be allowed to buy up to 49% of Yes Bank’s restructured capital.

Unfortunately, even with intervention by the RBI, the new manager of Yes Bank, Ravneet Gill has still failed in getting the bank’s financial act together.

What caused Yes Bank to go under?

Bad days for Yes Bank began in 2014. The books looked bad for the bank – it had assets of 74,192 million rupees. Its loans amounted to 55,633 million rupees. This was not much of a financial cushion for the bank

Fast forward six years and the bank had more than 2.25 trillion rupees in loans – many of which were bad. Unfortunately, its assets were nowhere near that amount.

What made matters worse was the fact that most of its assets (depositors’ money) were not making any money. This led the bank to start to lose money.

This was combined with the fact that Yes Bank had made big loans to many businesses that were in deep financial trouble. For example, it had loaned big money to the struggling family conglomerate DHFL and IL&FS.

But what really put the nail in the coffin for Yes Bank was the resignation of one of its most important independent directors Uttam Prakash Agarwal. He had trouble managing the bank – that’s why he decided to bail.

Here are the many reasons why Yes Bank flopped

Bad governance was only part of the reason for Yes Bank’s failure:

  • Non-performing assets – in plain English, these are assets that don’t make any money. Yes, this is bad because it essentially means that the bank doesn’t have enough money to pay off the people to whom it owes money. This includes the depositors.

    The RBI smelled something fishy with Yes Bank’s operations. That’s why it demanded to review its assets. What it found shocked them – most of its assets (money) were of poor quality and were earning nothing.

    Well, it’s bad news when this happens. This means that the bank’s net worth will eventually decrease and big time! The reason why is because it’s actually losing money. This is exactly what happened to Yes Bank!

    The evidence tells the story:  Yes Bank’s non-performing assets doubled in less than a six month time period from April to September of 2019 to 17,134 million rupees!
  • NBFC Crisis – well, one of its major debtors, IL&FS struggled financially. This spelled bad news for the bank.

    If this wasn’t bad enough, the Dewan Housing Finance Limited (DHFL) also began to wobble financially. Unfortunately, Yes Bank had lent approximately 11.5 percent of its total (monetary) assets to both of these enterprises.

    Then in the spring (April) of 2019, Yes Bank’s management said that approximately ten thousand crores of rupees were actually bad loans. This represented approximately 4.1% of its total loans.

    Management made a note to watch these bad loans like a hawk for the next twelve months. But obviously, this never happened.
  • Problems with governance – ok, so don’t knock Yes Bank’s management for this because this seems to be an issue with almost every Indian bank in existence! Uttam Agarwal documented that declining corporate governance standards and failure to comply with lenders accounted for almost all of Yes Bank’s failure!

    It probably wouldn’t surprise you to learn that Yes Bank had more than 3,277 million rupees in assets that weren’t earning a single paisa! The RBI acted immediately and assigned a previous deputy governor, R. Gandhi to watch Yes Bank and its operations carefully.

    R. Gandhi found that one of the bank’s owners Rana Kapoor was absolutely clueless in terms of running a bank. He asked Kapoor to resign as CEO in January 2019.
  • Too many people withdrawing money – well, don’t blame the depositors! Wouldn’t you withdraw all of your money from your bank if you knew it was failing?

    Yes Bank’s depositors were withdrawing money in the droves when they learned that the bank was in trouble. If they were depositing money, it was only for a few months at a time!

    Well, all of those withdrawals of large sums of money that were constantly occurring spelled bad news for the bank. It meant that it had less money to cover for its bad loans and assets that weren’t earning anything. This badly hurt its balance sheet.

    Yes Bank had only 2.09 trillion rupees in deposits as of September 2019. This may seem like a lot of money to you, but it’s really not since the bank had many more trillions in bad loans and non-performing assets.

The RBI (FINALLY) comes to the rescue!

Well, it is after all the RBI’s job to bail out Indian banks that are struggling financially! But the same measure that it implemented for Yes Bank applies to all Indian banks that are failing!

Measures that would strengthen Indian banks

The RBI is well aware that Indian banks have to be strong. It’s implementing many measures to ensure that this occurs. 

  • Basel III norms – The RBI has decided to phase these norms in for Indian banks. This is a set of international rules. The intent behind these norms is to make supervision, regulation, and management of risk better and easier for Indian banks.

    The RBI is also requiring banks to have desirable debt to equity ratios and have a certain amount of rupees in reserves (to pay for massive and sudden withdrawal requests or bad loans.)
  • The RBI has been implementing similar rules, regulations, and norms for payday loan companies, credit unions, other non-banking financial companies (NBFC), financial institutions all over India, and cooperative banks. The idea is to make India’s economy strong by making all Indian financial institutions strong.
  • The board of Indian Accounting Standards (IND-AS) is drafting and implementing various rules, regulations, and standards for regular banks, institutions all over Indian and non-banking financial companies.
  • The IND-AS has also implemented a Prompt Corrective Action (PCA) framework for all non-banking financial companies. The goal is to make them stronger financially by making them more accountable.
  • The IND-AS has also implemented a detailed and comprehensive Information Technology framework for all Indian financial institutions to follow. The goal is to make them financially stronger by forcing them to be accountable and follow certain standards in terms of their technological operations.
  • Many cooperative-banks are being merged and the IND-AS is eliminating many tiers of banking institutions in the Indian financial system. This streamlining will simplify the entire system and make accountability and fiscal strength much easier.
  • Indian banks and financial institutions are being held to stricter accounting standards. These will make them more efficient and hence stronger.

What a stronger banking system would mean for India?

Obviously, a stronger banking system would mean a stronger India with a more robust Indian economy. Additionally, India’s economy would grow at a much faster pace, much faster than the current 5%! After all, a stronger Indian economy means more and better quality jobs will be created!

But the Indian taxpayer would also breathe a sigh of relief. India’s central government has infused several trillions of rupees (billions of dollars) into the banks and other financial institutions that have failed. This relief money has come from the taxes that the average Indian pays.

indian consumer
Source: Freepik

A stronger Indian banking system would free up trillions of rupees in the government exchequer. This would allow the Indian government to pay for schools, infrastructure, healthcare, and other fundamentals India’s economy needs to continue growing.

Furthermore, a stronger Indian banking system would make it easier for the urban and rural poor to obtain the funds and credit they need to set up small enterprises. This would raise average wealth and help fuel Indian economic growth.

The average Indian would also have more peace of mind when depositing his or her hard-earned money in a bank. This would encourage many more Indians to deposit their money for longer periods of time. Banks would benefit by always having access to more capital. 

But it would also help address a pressing issue in India – a shortage of housing units. This would help lower-income and lower-middle-class Indians find the decent housing that they need.

Finally, the stock market would benefit if India’s banks were stronger. It would allow infrastructure development companies to leverage India’s high savings rate of 30% and channel that into long term infrastructure development projects that will help the Indian economy grow faster. Examples of infrastructure projects include roads, bridges, and dams.

A stronger Indian banking system would lead to a stronger rupee and a stronger Indian economy!

indian rupee

Can India’s banking system change?

India is currently at a crossroads. It has experienced many bank failures in modern history.

The most noted were TNQ and Yes Bank. India’s RBI has repeatedly intervened and has recently issued new reforms to attempt to curb bank failures. This has had some success. Now it’s up to the Indian government and banks to implement bank reforms that would strengthen both Indian banks and the Indian economy!.


Private Company vs Public Company

The difference is more than literal



Private Company vs Public Company

Do you know why you cannot buy shares of a private company?

So, can you only buy shares of a public company like ONGC, IRCTC, Indian Oil, etc.?

Then why are the shares of private companies like Infosys and Wipro listed on the stock exchange? Are these private companies to begin with?

Do you know a private company cannot have more than 200 members?

OMG! Somebody please answer all these questions.

Yes, the difference is more than literal.

Let us have a cut and dried distinction between a private and a public company.

Also read: Citibank Is Shutting Down Operations in India. What Will Happen to the Account Holders’ Money?

Definition of Company

Let us take the bull by its horns and get the definitions out from the textbooks.

Definition of Company

Companies Act 2013

A company is a legal entity that is formed by different individuals to generate profits through their commercial activities.

Majorly, a company can be classified into two strands- public company and private company.

Before knowing the difference between a public company and a private company, it is of utmost importance to check on the definitions of a public company and a private company as per the Companies Act 2013.

Public Company

Public Company

According to the Companies Act, 2013, a “public company” is a company which—

(a) is not a private company

(b) has a minimum paid-up share capital of five lakh rupees

Private Company

Private Company

According to Section 2(68) of the Companies Act, 2013, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them.

According to the Companies Act 2013, a public company has to mandate all legal proceedings which are not mentioned in the definition under Section 2(68) of the Companies Act, 2013, which pertain to a private company.

Difference Between a Public And Private Company

Let’s look at all the major pointers which differentiate a public Company and a private company.

Minimum Number of Members

In a public company, a minimum of 7 members is required to form a company; whereas a private company requires at least 2 members to form a company.

Maximum Number of Members

In a private company, a maximum of 200 members can be present to form a company; whereas in a public company there is no such restriction on the maximum number of members to form a public company.

Invitation To Public

A public company can freely invite the public for subscription, which implies it can issue a prospectus. On the other hand, a public company is prohibited from inviting the public for its share capital, which means a private company cannot issue a prospectus.

Number Of Directors

In a private company, a minimum of 2 directors is required; whereas in a public company, a minimum of 3 directors is required.

Transferability Of Shares

There is no restriction on transferability of shares in a public company; whereas in a private company there are complete restrictions on transferability of shares, through its article of association.

Annual Report

Annual Report

A public company must disclose the annual financial report; whereas for a private company, there is no such obligation to disclose their annual report to the public.

Index Of Members

In a public company, it is mandatory to maintain an index of all members in the company, whereas in a private company, it is not needed to maintain the index of its members.

Paid-Up Capital

The minimum paid-up capital for a private company is Rs. 1 lakhs; whereas the minimum paid-up capital for a public company is greater than that of a private company. It is Rs. 5 lakhs for a public company.

Director’s/Managerial Remuneration

In case of a public company, it is defined that total managerial remuneration cannot exceed 11% of net profits and in the case of inadequate profit, the maximum amount to be paid is Rs. 87,500. Whereas in a private company there is no such restriction on the maximum cap for directors’ remuneration.

Quorum For Meetings

In the case of a public company, it is mandatory to have a personal presence of five members in a meeting to constitute quorum, whereas in a private company, it requires a minimum of two members to maintain a quorum for meetings.

Below is an array with a list of pointers that differentiates a public company and a private company.

8PAID-UP CAPITAL5,00,0001,00,000

“The best investment is in the tools of one’s own trade.”- Benjamin Franklin

Benjamin Franklin Quote

It is always better to be well versed with the tools of one’s own trade and the management of the inflows and outflows.

An avid tradesman associates their trade to generate profits and simplify the trade complexities by forming a company. These differences stated above lay down the basics of companies and form a guided path for a better approach to start with a company.

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Here Is Why Entrepreneurs Should Go Out and Start Networking

Don’t hide behind. Face your circles. It’s high time you start networking.



Networking of Entrepreneurs

We have often watched Hindi films where protagonists aspire to be a rich men as a kid. And hence they start thinking of different business ideas to be successful.

Well, this happens in reality as well. Who doesn’t dream of starting their own business one day, right?

However, business is not as easy as eating a piece of cake. And no, you don’t need to have a Ph.D. or an MBA degree to start a business.

You just need to have clarity of thoughts; about the business idea, sales and marketing, and most importantly, NETWORKING.

Today, everyone needs everything. The circle of needs and demands has become wider. Everything in entrepreneurship is becoming more interconnected. Just like the Past, Present, and Future in the web series “Dark”.

Networking is the one and only way to get to know what’s around you. From having conversations with your parents to your fruit vendors or even your house helps, you never know what brings you to the peak of your business.

We will share our two cents to convince you enough to go out and start networking if you are a budding entrepreneur. Pardon us if these two cents become 4 or more, but you will definitely not regret reading this till the end.

Entrepreneurship And Networking

The first thing that any budding entrepreneur does, while starting their own business, is to spread the word about it.

The first set of people that they talk to are their family, friends, and even banks (for financial purposes). Although these efforts may or may not materialize into something fruitful, you learn a thing or two about the ABCs of networking.

Entrepreneurship And Networking

Networking is one way to get clarity of thoughts about your business. It’s like building a blueprint of your business in mind. You not only know the industry better but also get to know the loopholes and healthy shortcuts that will save time and increase efficiency.

In the ABCs of business, “A” stands for “recognizing the needs and expectations of people around you.”

Networking is the first step to recognize the gap between demand and supply. It’s similar to providing electricity to those areas with no light, and the idea and motivation behind it.

So now that you are still reading, let’s go further and discuss the importance of networking in entrepreneurship:

Builds Trust And Respect

You may or may not earn money every day from your business. But once you earn trust and respect in the market, there is no way that people will forget you easily.

It’s a fact.

Earning money is easy.

But earning trust and respect takes more effort.

Networking with your business peers or veterans will get you noticed. Initially, you won’t find them paying heed to you, but once they do, they are never going to leave you.

Builds Trust And Respect

People believe in aggressive marketing to increase sales and business. But try aggressive networking instead, and there will be no stopping for you in the future.

Go Social

Remember, making friends in schools and colleges? It’s a similar situation in entrepreneurship, too.

Going social is one way you get confidence in networking with people in the future.

Go Social

Did you ever come across someone who would go to a restaurant with you and start talking to the waiters and receptionists?

Well, you may feel awkward about it, but that’s their first step to get to know the surrounding market.

Start from a party that you attend, be it a family party or a party with friends. Join a group of your choice and listen to the conversations. Once you get the grip of it, start by putting forth your views and then turn it around to your business idea. This may look boring and slow, but slow and steady will definitely win the race.

Today, there are many millennial-made apps, like Bumble, LinkedIn, etc. that encourage people to build an entrepreneurial network in any industry of their choice. Start posting. Start swiping right to the connections that interest you.

For that matter, you can even join dating apps to build professional connections. Your first conversation about your business will be a good ice-breaker (You’ll thank us later for this pro tip).

Don’t Be Selective In Your Own Circles

A very common mistake that most “choosy” or “picky” people do, is being very selective in deciding who to network with.

Today, almost all industries are interconnected. A top-class hospital will always need catering or food services for their staff and patients. A hotel will always want to have options for good clothes vendors for room and restaurant linen.

So if you limit yourself to one or two industries, and sideline others, chances are that you may lose a lot of opportunities.

Expand yourself. Even if you are not sure about it at first. Take that first call that says “our budget is low”, when you know that you have a different area of expertise to explore.

Your Shyness And Fear Will Only Put You Behind The Race

Entrepreneurship requires you to go “out-of-your-circles” more than going “out-of-the-box”.

You are likely to face uncomfortable situations all the time. You have to become an extrovert if you are a highly introverted person. You can’t hide from people who you dislike. You can’t say goodbye to those people whom you are done working with.

Your fear, your shyness will start putting you behind the race of a successful entrepreneur.

You have to be outspoken. Pave your way and lead it too. Take others along the way and build a huge business “family”.

Remember Abhishek Bachchan in the film “Guru”?

No, you need not be exactly like him, but you are expected to know why to be like him. And take your own decisions from the existing lessons.

It’s A Long Road That Will Definitely Lead You To Your Vision

Networking is a continuous process. You don’t stop after a certain level of achievement.

Starting a business is not enough, you have to keep it running. And for that purpose, you may need to explore your potential networks.

It’s A Long Road That Will Definitely Lead You To Your Vision

It’s often expected from budding entrepreneurs to network only with business-minded people to start and run a business successfully. What they don’t realize is that business is made by people, for people, and with people.

So start networking – whether virtually, or face-to-face. Get that business idea in place, get started with your plans, and you will surely reach a place where you can write “successful entrepreneur” in your social media bio.

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2021’s India Is Atmanirbhar: 10 Desi Unicorn Startups

With 10 startups joining the unicorn club in just 4 months of 2021, is India moving towards Atmanirbhartha?



2021’s India is Atmanirbhar - 10 Indian Unicorn Startups

The Many Firsts of a Fantastic First Quarter of 2021!

The Indian startup ecosystem got an impressive start in the first quarter of 2021. As per Venture Intelligence, Indian startups witnessed the highest investment in two years, and the capital flow was $4.2 billion!

This is not all.

Most of the startups saw a three-fold hike in valuation in their recent funding rounds. And among these, 10 got valued at more than $1 billion.

And hence, the Indian startup ecosystem received its new set of unicorns.

The unicorn story of 2021 is unique.


Because it is the one with many firsts.

The first health tech, social commerce, e-pharmacy, and infrastructure technology that made its way into the unicorn club.

According to the NASSCOM report, India will have 50 unicorns by the end of 2021.

But many industry experts and research firms believe that, if the current rate continues, India would easily surpass this number.

Also read: How WazirX Is Dealing With the Growing Crypto Demands in India?

Here is the list of 10 Indian startups that gave 2021 a pleasant start.

  • Digit Insurance
  • Innovaccer
  • Five Star Business Finance
  • Meesho
  • Infra.Market
  • CRED
  • Pharmeasy
  • Groww
  • Gupshup
  • ShareChat

The Beginning of Unicorn

The Beginning of Unicorn

If you know any entrepreneur personally, you may have an idea how difficult it is to raise the funds for a startup. It is definitely not a cakewalk.

The fundraising usually begins with family and friends. And as the company expands, it approaches angel investors, and then goes for the venture capitalists for the fund acquisition.

Even though it is a tough task for any startup to gain the investors’ confidence, some horses pass this race and achieve the unicorn tag.

For those who are new to the concept of unicorn, it is a startup that has a valuation of $1 billion or more in the venture capital industry. And Aileen Lee, the founder of Cowboy Ventures, coined the term ‘unicorn’ in 2013.

And since then, startups are continuously striving to attain this prestigious status.

India Didn’t Have a Great Start

India Didn’t Have a Great Start

When Aileen Lee coined the term ‘unicorn’ in 2013, the United States had 39 unicorns.

You may ask, what about India?

There was only one company called InMobi, the mobile-advertising services provider, that could make it to the unicorn club.

India was nowhere closer to the US in the matter of unicorns. The reasons were many:

  • Limited funding
  • Inadequate infrastructure
  • A plethora of social and cultural challenges
  • Lack of talent
  • College students found entrepreneurship unappealing compared to the management jobs in large IT firms.
  • The aspiring entrepreneurs often got rejected by the prospective brides and their families.

India Slowly Picked Up the Pace

India Slowly Picked Up the Pace

Even though India’s unicorn story had a not-so-brilliant start, the current scenario looks promising.

As per Venture Intelligence data, there were only 10 unicorns until 2018, and since then, there has been the addition of 28 unicorns.

For an Indian startup, on average, it would take up to 8 years to turn into a unicorn.

India’s oldest startups, like, MakeMyTrip, and Justdial, which began its operation prior to 2005, took 15 years to achieve the unicorn title.

But this period has shrunk in recent times.

A recent report by Orios Venture Partners shows that the newer technology firms are hitting the billion-dollar mark in less time than their older counterparts.

The younger enterprises such as Swiggy, Rivigo, Razorpay, and Unacademy joined the unicorn club in 5 years on average. Whereas, Udaan, Ola, Electric, and Glance took just 2.4 years!

What could be the reason for this transition?

As per the Orios Venture Partners report, the reason behind the younger startups turning unicorn sooner could be:

  • The prior entrepreneurship experience of the founders of these companies
  • These founders know how to secure the funds more efficiently
  • The growth mindset

There are two other reasons the investors from India, and all over the world, are backing the Indian startups with their funds:

  • Indian startups leveraged the changing consumer behavior and quickly tweaked themselves to satisfy the needs of the customers
  • These companies started functioning on the fact that “Focus on the market and the customers will ensure your growth”

Will ‘Atmanirbhar Bharat’ Soon Be a Reality?

Will ‘Atmanirbhar Bharat’ Soon Be a Reality

India’s honorable Prime Minister, Narendra Modi, raised a clarion call to the country to be self-reliant, aka Atmanirbhar in all senses.

He also outlined the five pillars of Atmanirbhar Bharat:

  • Economy
  • Infrastructure
  • Systems
  • Demography, and
  • Demand

You may ask, how startups can help in making India self-reliant?

The Indian startup ecosystem had a slow and steady evolution from one sector to the other, ranging from IT/ITES to e-commerce, deep technology to hyper delivery networks.

Today, startups also have the most favorable conditions to survive and flourish, starting from the funding, development of regulatory infrastructure, global mergers and acquisitions, the influx of global investors to internationalization.

Do you know what brought this revolution to the world’s third-largest startup ecosystem?

It is the government’s mission to get as many entrepreneurial stories as possible through its programs like Startup India, Stand up India, Digital India, and Vocal for Local.

And the unicorn forms one-tenth of new industries coming into existence every year.

The increase in the number of tech unicorns is driving the investors’ interest in India’s startup ecosystem.

According to a report by NASSCOM, the startups in the technology field alone have created 60,000 direct jobs in 2019.

These data show that, if more startups come into existence, and get support from the investors and from the government, India could see a greater spike in job opportunities.

Atmanirbhar citizens make Atmanirbhar Bharat, don’t you agree?

Also read: How a Young Guy Stood as an Inspiration With His Application for Lazy Readers

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