Here's a rundown of 11 significant news stories to keep you in the know:
#MostRead ⚡
RBI withdraws Rs 2,000 notes from circulation — but you need not worry
The Reserve Bank of India (RBI) on Friday, May 19, said it has decided to withdraw the Rs 2,000 denomination bank notes from circulation. However, the Rs 2,000 denomination bank notes will continue to be legal tender.
Also, the public may deposit Rs 2,000 notes into their bank accounts or exchange them for notes of other denominations at any bank branch.
#JobsMarket 👩💻
Almost all employees in India are looking for a new job, finds Michael Page report
If you thought you were the only one on the lookout for a job, you're wrong. Turns out, a whopping 98 percent white collar employees in India are open to new job opportunities, global recruitment firm Michael Page’s Talent Trends Report 2023 titled 'Invisible Revolution' has found.
The report claims the great resignation wave that started in 2021 never really ended as the talent market is in universal flux and companies can only confidently rely on fewer than one in 10 people in their current workforce to be retained this year.
Gen Z gets keener on side hustles as layoffs continue — 46% hold second jobs
As the job market gets more uncertain day by day — with rising layoffs and inflation hitting hard — side hustles have become a go to thing for the workforce, especially for Generation Z or Gen Z. Side hustles, which were seen as at best a hobby, have become a necessity for the younger generation due to the tense economic situation.
According to a recent survey conducted by Deloitte, an increasing number of Gen Zs — 46 percent to be exact — currently have either a full- or part-time jobs in addition to their main one. When it comes to millennials, the number stands at 37 percent.
#TechTalks 📱
Instagram back up after global outage affecting thousands of users
Meta Platform Inc's Instagram was back up for most users, the company said on Sunday, after a technical issue that disrupted services to thousands of people had been resolved.
"Earlier today, a technical issue caused some people to have trouble accessing Instagram. We resolved the issue as quickly as possible for everyone who was impacted," a Meta spokesperson told Reuters.
Lenders accuse Byju's Alpha of hiding $500 million in bitter battle for control
Lenders accused one of India’s hottest tech companies, BYJU’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.
The allegation came out at a court hearing on Thursday in Delaware, where BYJU’s Alpha faces a lawsuit over who should control the company. Lenders claim that because of a default earlier this year, they have the right to put their representative, Timothy R. Pohl, in charge.
#Indepth 🔎
What is G7?
The 49th G7 summit was held from May 19 to 21.
#StartupWorld 👩💻
Rooter raises $16 million led by Lightbox to grow in India-like gaming markets
aming and esports platform Rooter has raised $16 million in what it calls a ‘growth round’ led by Truecaller and Dunzo-backer LightBox. The round saw Trifecta Capital, Pivot Ventures, Baldota Family Office, Global Play Media, Denlow Private Trust, Venture Catalysts and Potential Ventures join Rooter’s captable.
Existing investors Duane Park Ventures, LeAD Sports, Health Tech Partners, ADvantage VC, Goal Ventures, Capital A and Astarc Ventures also participated in the round, which was a combination of debt and equity.
Agraga raises Rs 70 crore in Series A fund round — plans to expand to 15 cities in 12 months
Agraga which provides a seamless digital experience — from booking, tracking to execution in the logistics space, has raised Rs 70 crore in a Series A round from IvyCap Ventures. The digital logistics platform plans to use these funds to expand operations across India among other things.
Co-Founder & CEO of the company Venkatesh Narayanaswamy speaking to CNBC-TV18 said expanding business to 15 cities from current three cities is one of the top priorities for him.
#ExpertEdge 💡
Investment winter in startup world — here's what the impacts of high valuation and limited cheap funds are
The startup world is currently experiencing an investing winter, with high valuations and limited access to cheap capital putting pressure on entrepreneurs and investors alike.
The past decade had seen a surge in startup investment, driven by easy access to cheap capital and a wave of disruptive technologies. This shift marks a significant change from the investment landscape of recent years, when companies with little to no revenue could raise massive sums of money at sky-high valuations.
Energy security — an academic's take on why nuclear can't be a loner at the G20’s people-centric energy transition agenda
Under India’s presidency, G20 aims to address the pressing issues of climate change and energy security by building a sense of trusteeship to achieve clean energy transition. Four Energy Transition Working Group (ETWG) meetings, various side events, and a Ministerial Meeting are planned “to advance cooperation in clean energy transition and make it central to the agenda of sustainable economic development.”
To enable such transition, six priority areas are focused on in the G20 meetings: addressing technology gaps; low-cost financing; energy security and diversified supply chains; energy efficiency, industrial low-carbon transitions, and responsible consumption; fuels for the future; and universal access to clean energy, and just, affordable, and inclusive energy transition pathways.
#TravelWithCNBCTV18 🧳
Indulge in the enchanting symphony of Kerala's backwaters in Alleppey and Kumarakom
Steeped in tranquility and natural beauty, Kerala's backwaters are a true marvel of serenity. Nestled in the southern part of India, the backwaters of Alleppey and Kumarakom offer a captivating journey through picturesque canals, lush green landscapes, and a unique blend of culture and nature. Let us embark on a virtual voyage through these enchanting destinations, where time seems to stand still and the essence of Kerala's backwaters comes alive.
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