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What’s the Idea? Bazaar Bhav on mobiles
MUMBAI: Idea Cellular has, for the first time in India, introduced SMS-based information updates in the commodity markets using a subscription-based model.
This service – Idea Bazaar Bhav – will be available across all Idea Cellular circles in India.
Idea’s customers will now be able to receive updates about the current prices in the major exchanges as well as spot markets all over the country, 10-15 times a day, over SMS.
International markets of China, London and Tokyo, vessel positions and port information will also be covered. Idea Bazaar Bhav on mobiles will initially cover the commodity markets for oil, pulses, cotton and bullion (i.e. gold, silver etc). In the next phase grains and sugar markets will also be added to the service.
An Idea subscriber can register by sending an SMS – ‘Help’ to 1920 and start getting updates. Idea Bazaar Bhav subscription will be offered to postpaid at a great price of Rs 150 per month and prepaid customers will be able to use the dynamic and effective SMS Pull feature to get the updates as and when required.
With the Idea Bazaar Bhav service, customers will also be able to participate more actively in commodity trading including forward trading and benefit from the real-time information updates. It will also keep the traders, brokers and farmers updated about the current trends in the market. The service is being powered by ADCC Research and Computing.
Idea Cellular CEO Vikram Mehmi said, “We are extremely happy to be the first ones to offer such a service to our customers and enable greater value addition in their day to day business transactions. With the mobile subscriber base penetrating through deeper sections of India and spreading into rural areas, such a service is a boon to farmers, traders and the masses having their livelihood depend upon agro-based activities.”
ADCC Research & Computing CEO Arun Lakhani, on the other hand, said, “Bazaar Bhav will act as a force multiplier to the rural economy empowering farmers to get fair prices and avoid exploitation. This is a first step in taking the technology to villages and contributing to the village economy.”
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YES Bank appoints S Anantharaman as chief risk officer
Former Jio Financial Services group chief risk officer takes charge of enterprise-wide risk at the embattled private lender
MUMBAI: YES Bank is not taking chances with risk anymore. The private lender has appointed S Anantharaman as its chief risk officer, a hire that signals the bank’s continued effort to rebuild credibility and tighten the controls that once famously slipped.
Anantharaman arrives from Jio Financial Services, where he served as group chief risk officer and built a risk management architecture spanning lending, payments, insurance broking and asset management from the ground up. Before that, he held the chief risk officer role at Bank of Baroda and senior leadership positions at HDFC Bank and L&T Finance Holdings. Three decades in banking and financial services, in other words, with scars and qualifications to match. He is a chartered accountant and a CFA charterholder.
At YES Bank, his brief is considerable. Anantharaman will oversee the bank’s entire enterprise-wide risk framework, covering credit policy, market risk, operational risk, information security, data governance, analytics, model governance and data privacy. It is, in short, every lever that matters when a bank is trying to prove it has grown up.
YES Bank’s turbulent past needs little rehearsing. What it needs now is exactly what Anantharaman has spent thirty years building: the kind of risk culture that stops problems before they become headlines. The appointment suggests the bank knows it.
