Financial literacy for blue-collar workers; Skydiver Shital Mahajan on breaking barriers

Hello,

India plans to add 50,000 electric buses to its roads by 2027. 

The US government and philanthropic groups have now contributed $150 million to the country’s $390 million fund to deploy these e-buses, with the remaining $240 million coming from the Indian government.

Speaking of electric vehicles, Sulajja Firodia Motwani said the government should not dilute the Make in India initiative and follow a consistent policy. The FICCI (Federation of Indian Chambers of Commerce & Industry) EV Committee Chairperson’s comments come amid a push from American electric carmaker Tesla for special sops to set up its factory in the country.

Elsewhere, Pepperfry’s revenue from operations for FY23 stood at Rs 272.3 crore, up by a modest 10% from the previous year, indicating that the furniture company’s bet on expanding its omnichannel presence is fructifying.

ICYMI: The finals of Microsoft Excel World Championship 2023. Yes, that’s a real thing.

Lastly, YS Life lists must-watch Indie films of 2023 to help you make a powerful start to the new year. 

In today’s newsletter, we will talk about 

• Financial literacy for blue-collar workers 
• Shital Mahajan on breaking barriers

Here’s your trivia for today: What does decem, the Latin word from which December gets its name, mean?

Inspiration

Financial literacy for blue-collar workers 

Invest The Change—a social enterprise started by 17-year-old Kashvi Jindal–is on a mission to educate the underprivileged about financial literacy, as well as help them access government-run schemes. The organisation has so far helped 3,000 blue-collar workers.

Inspiring change:

• According to a report by the National Survey Office of the Ministry of Statistics and Programme Implementation, approximately 10% of the poorest one-fifth of rural Indians (10.2%) possessed some form of private or government health insurance. 
• In the case of an emergency, families often have to dip into their savings. Jindal helps these families by teaching them about government-run schemes. 
• Jindal says it is sometimes difficult to communicate with workers due to language barriers, as well as the lack of trust that people have in availing insurance and health schemes. 

TechSparks 

Skydiver Shital Mahajan on breaking barriers

Gender barriers will exist, but women must overcome bias and create opportunities for themselves, said Shital Mahajan, the first woman in the world to jump off a helicopter from a height of 21,500 ft in front of Mount Everest. She was speaking at a fireside chat at TechSparks Delhi 2023.

Dare to dream:

• Mahajan is the first woman in the world to skydive over the North Pole, South Pole, and Mount Everest.
• She explained that, just like the Olympic Association for Olympic Sports, there is the Fédération Aéronautique Internationale for aero sports. Thirteen disciplines, including skydiving, hot air ballooning, para motoring, paragliding, and drone flying, are included in aero sports.
• India plans to establish an Aero Sports Federation under the Aero Club of India, which will regulate and oversee state and national-level sporting activities.

News & updates

• Housing: Australia will triple fees on purchases of existing homes by foreign buyers, Treasurer Jim Chalmers said on Sunday, as part of measures aimed at increasing the supply of affordable housing.
• Wild cat: Scientists are preparing plans to restore the fortunes of Scotland’s threatened Highland wildcats – by identifying and removing DNA they have acquired from domestic cats. Researchers have warned that the Highland tiger is critically endangered because it has bred so much with domestic moggies.
• Job cuts: Automotive supplier Bosch needs to cut up to 1,500 jobs at two of its German sites by 2025 to adapt staffing levels to changing demand and technologies in the auto sector, the company said on Sunday.

What you should watch out for

• IPO watch: Stationery and art products manufacturer Doms Industries and housing finance company India Shelter Finance Corporation will open their IPOs for subscription on Wednesday. The closing date for both will be December 15. In total, the week will see seven public outings and two listings, including cryogenic tank maker Inox India, which will open for subscription on December 14 and close on December 18. 
• AI summit: Prime Minister Narendra Modi will inaugurate the annual Global Partnership on Artificial Intelligence (GPAI) Summit being hosted by India from December 12-14. GPAI is a multi-stakeholder initiative that aims to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
• Sony-Zee merger: On Friday, NCLAT (National Company Law Appellate Tribunal (NCLAT) will hear two appeals filed by Axis Finance and IDBI Bank against the merger of Zee Entertainment and Culver Max Entertainment, formerly Sony Pictures Networks India.

What does decem, the Latin word from which December gets its name, mean?

Answer: Ten. "Decem" in Latin means "ten". In the ancient Roman calendar, December was originally the tenth month of the year before January and February were added.

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