IBPS Current Affairs

Google’s Rajan Anandan Appointed Chairman of IAMAI

Google’s vice-president for South East Asia and India, Rajan Anandan has been appointed as the new chairman of Internet and Mobile Association of India (IAMAI). Rajan will succeed  FreeCharge’s co-founder and chief executive officer Kunal Shah.

The other new office bearers of the IAMAI will be MakeMyTrip chairman & Group CEO Deep Kalra who will be the vice-chairman. He succeeds Saavn co-founder and president Vinodh Bhat.  Facebook’s managing director (India & South Asia), Umang Bedi will be the new treasurer of IAMAI. Subho Ray will continue to be the president of IAMAI.

The tenure of the office bearers of the new council will be for two years.

Challenges

The new council has to work towards improving the internet connectivity especially in rural areas. It is estimated that in a population of 906 million, only 156 million are using the internet in rural areas. IAMAI has to take steps to reach to the potential 750 million users living in rural heartlands.

Another area which needs the focus of the committee is the promotion of local language content. The Indian languages accounts for only 0.1% of the content on the worldwide web. It is estimated that enabling Indian language content will help to achieve a growth of 39% in the current user base of India.

IAMAI

IAMAI is a not-for-profit industry body registered under the Societies Act, 1986. It was founded in 2004. Its aim is to improve and expand the value added services pertaining to mobiles and several online services. It is the only existing specialized body that represents the interests of online and mobile value added services

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Tata Group Named Country’s Most Valuable Brand in Brand Finance List

Brand finance in its 2017 report that lists India’s 100 most valuable brands has named Tata Group as the most valuable brand in India at an estimated brand value of $13.1 billion. Brand Finance is a global brand valuation and strategy consultancy firm. Tata Group has managed to top the list despite its brand value declining 4% from $13.7 billion in 2016.

As per the report, the total brand value of India’s top 100 brands have surged 15% in 2017 compared to the global average of 11%. Overall 68 of India’s 100 most valuable brands have registered growth in value this year.

Telecom operator Airtel at an estimated valuation of $7.7 billion has been ranked second in the list followed by Life Insurance Corporation of India (LIC) with $6.8 billion.

IT firm Infosys and State Bank of India have been ranked fourth and fifth in the list with an estimated value of $6.2 billion and $5.5 billion respectively.

Backed by the addition of 35 new routes and increase in operations in the existing route, Indigo Airlines  jumped from No. 95 in 2016 to No. 62 in 2017 in the Brand Finance list.

Handset maker Micromax’s performance has suffered the most with its brand value dropping by 39% and fell to the 95th position in the list of top 100 brands.

Air carrier Indigo Airlines gained the most. Indigo jumped from No. 95 in 2016 to No. 62 in 2017 in the Brand Finance list.

The report has named ITC as the most powerful brand in the country. As per the report it is the country’s only AAA rated brand with a Brand Strength Index score of 86. 

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