Solutions must focus on understanding aspirations, industry requirements and standardization across the skill-development value chain

Coupled with a continual increase in voluntary unemployment, the International Labour Organisation expects unemployment in India to be higher in 2018. In a country where 65% of the population is below 35 years, unemployment, especially among youth, can limit the nation’s ability to reap the much-hyped demographic dividend. Recognizing this challenge, a wide range of stakeholders, including the government, companies, civil society organizations, and for-profit enterprises are working either independently or in cohesion to enhance youth employability.

A 2017 Intellecap study, of more than 80 programmes and organizations engaged in youth skilling in India, found that currently four models are used for supporting youth employability in the country. The first model, or the self-employment model, works on the rationale that if youth are trained in a particular skill, they will have the capacity to become micro entrepreneurs. The second model, or the employer-led model, trains youth in specific skills relevant to an enterprise and then absorbs the youth into their own value chain. The third, the placement-led model, provides training to youth and also established linkages with potential employers. Fourth, the market linkage model provides end-to-end support to self-employed youth, assisting them in earning better incomes. The government has also undertaken a structured approach via the establishment of the ministry of skill development and employment and the Pradhan Mantri Kaushal Vikas Yojana.

PAYBACK appoints Rijish Raghavan as its new COO, Rentsher appoints Anubha Verma as its CTO, Intellecap appoints Vikas Bali as the new CEO, Travelur.com names Srinivas Rapthadu to its advisory board, and NiYO appoints Vineet Sethi as new Chief Marketing Officer.

Below is a list of new hiring updates that happened in the ecosystem recently. Read a brief description about all of them:

PAYBACK India Announces Appointment of New COO

PAYBACK, India’s multi-brand loyalty program has announced the appointment of Rijish Raghavan as its new Chief Operating Officer (COO) to oversee PAYBACK’s India operations. Rijish will continue to lead Business Development & Partner Management portfolios, while taking on additional responsibilities that would encompass Business Intelligence and Compliance.

Rijish has over two decades of experience in leadership roles across industries. He believes in taking the organisation to the next level with expansion across new service categories and customer segments.

Prior to PAYBACK, he has worked at renowned companies like American Express and Cox & Kings. He has been instrumental in leading business development and driving growth for PAYBACK in the country for last four years. He holds a Post Graduate Diploma in Business Management from Xavier’s Institute of Management and has a deep understanding of marketing, analytics and technology functions.

Advisory services firm Intellecap, which is part of the impact investment-focused Aavishkaar-Intellecap Group, has announced the appointment of Vikas Bali as its new chief executive officer.

Before this, Bali was a managing director leading Intellecap’s global consulting and research business.

He replaces Nisha Dutt, who served as CEO since May 2015.

Intellecap said in a statement that Bali will be responsible for setting the strategic direction of the company across businesses and geographies.

“Vikas (Bali) brings with him diverse expertise and is the ideal choice to provide leadership and guidance to the young and passionate intellectual capital with us at Intellecap,” said Vineet Rai, founder, Aavishkaar-Intellecap Group.

Bali had earlier worked with Accenture Strategy, part of global professional services company Accenture, leading the products vertical including automotive, consumer goods, life sciences and retail businesses. His previous assignments also include stints at Tata Sky, DEN Networks, AT Kearney and Andersen consulting.

The Impact Story by Asian NGO is a coveted yearly story which captures in depth the Insights and Inspiration for Social Innovation. This year their focus was Tech For Good and captures the myriad possibilities for the Africa region to come together, collaboratively, and use technology to make a social impact on a global scale.

Arielle Molino from Intellecap Africa contributed a detailed story (page 40) on the use of drones and the opportunity it presents to entrepreneurs and startups who want to innovate and disrupt.

In the article, she highlights how drone technology has demonstrated abilities to identify crop stress, assist with irrigation management, and manage pest control more efficiently and accurately than any manual alternatives. The average smallholder farmer in Africa today has limited access to agriculture technology, and climate change means that traditional planting timelines cannot be followed. So, affordable agriculture management services through drones can be a game-changer for the 500 million estimated smallholder farmers in the world. She also goes on to share the challenges and obstacles that come in the way of adaption.

Mar 21 2018

Mumbai, March 21, 2018: BASIX Sub-K iTransactions Ltd, a Hyderabad based company focused on financial inclusion, has raised INR 350 million from global nonprofit and financial inclusion pioneer Accion and Nordic Microfinance Initiative (NMI), a public-private partnership, owned by among others, the Norwegian and Danish governmental funds for developing countries (Norfund and IFU). Intellecap served as the investment banker for the deal.

Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform that would help the company position itself as a preferred fintech as well as distribution partner for banks and financial institutions.

Commenting on this deal, Sasidhar Thumuluri, MD & CEO of Basix Sub-K says, “We are very excited about this investment. Accion and NMI as well as our early investor Michael & Susan Dell Foundation share our vision of a financially included society. Building upon Basix’s two decades of cutting edge work in financial inclusion, we will be able to continue to invest in innovations and increase our reach multi-fold, thanks to this investment.”

“Sub-K’s understanding of client needs, network of agents, and bank partnerships help address a long-standing challenge of providing rural families in India with the financial services they need to build better lives,” says Michael Schlein, President and CEO of Accion.

“We are very thrilled and excited to join the Sub-K team. NMI has high expectations for Sub-K, thanks to its strong and customer centric concept, and highly competent management and staff,” says Arthur Sletteberg, Managing Director of NMI.

“This new capital infusion from Accion and NMI is a testament to Sub-K’s promise as a transformative provider of diversified financial services to low-income families across the country. We are thrilled to be a partner in Sub-K’s evolution and continued growth,” said Santhosh Ramdoss, Director – India Programs, Michael & Susan Dell Foundation.

MAY, 03, 2018

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Under the services, Intellecap would assist its clients with transaction structuring and debt fund raising from banks, financial institutions, private placement of debt, commercial paper and external commercial borrowings, among others, it said in a statement.

Are inclusion riders imperative for better diversity?

If you had asked me this question 10 years ago, I would have said we do not need inclusion riders, and that women would rise to the top on merit. However, if we take a linear approach on the gender gap, it will take us 150 years to bridge it. Inclusion riders need to be adopted as a company-wide mission at the board level and driven top down if we want the diversity agenda to go beyond token representation of minorities.

India has initiated the inclusion process with new regulations, which mandate at least one independent female director on the board of a listed company. We have seen how effective the 30% club campaign has been in driving its signatories (companies on the Financial Times Stock Exchange 100 Index) to commit to greater representation (a minimum of 30%) of women on their boards. A diverse team gives you better business outcomes.

HYDERABAD, 22,MARCH,2018

BASIX Sub-K iTransactions Ltd, a company focused on financial inclusion, has raised Rs 35 crore from global non-profit and financial inclusion pioneer Accion and Nordic Microfinance Initiative (NMI).

The investors are a public-private partnership, owned by among others, the Norwegian and Danish governmental funds for developing countries (Norfund and IFU).

Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses.

Some of the amount raised will also be dedicated for strengthening its IT platform that would help the company position itself as a preferred fintech as well as distribution partner for banks and financial institutions.

Commenting on this deal, Sasidhar Thumuluri, MD & CEO of Basix Sub-K, said: “Accion and NMI as well as our early investor Michael & Susan Dell Foundation share our vision of a financially included society. Building upon Basix’s two decades of cutting edge work in financial inclusion, we will be able to continue to invest in innovations and increase our reach multi-fold, thanks to this investment.”

Mar 21 2018

BASIX Sub-K iTransactions Ltd, a Hyderabad based company focused on financial inclusion, has raised Rs.350 million from global nonprofit and financial inclusion pioneer Accion and Nordic Microfinance Initiative (NMI), a public-private partnership, owned by among others, the Norwegian and Danish governmental funds for developing countries. Intellecap served as the investment banker for the deal.

Founded in 2010, Basix Sub-K iTransactions Ltd., is a associate company of BASIX Social Enterprise Group. As of February, 2018, the company is operational in 23 states of India and manages a loan portfolio of Rs. 6.66 billion for various banks.

Sub-K will use a sizeable amount of the funds for business growth by investing in the expansion of its agent banking network and credit facilitation for micro and small businesses. Some of the amount raised will also be dedicated to strengthening its IT platform that would help the company position itself as a preferred fintech as well as distribution partner for banks and financial institutions.

Sasidhar Thumuluri, CEO of Basix Sub-K said, “Accion and NMI as well as our early investor Michael & Susan Dell Foundation share our vision of a financially included society. Building upon Basix’s two decades of work in financial inclusion, we will be able to continue to invest in innovations and increase our reach multi-fold, thanks to this investment.”