{"id":23608,"date":"2024-04-11T02:22:17","date_gmt":"2024-04-11T02:22:17","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/11\/political-ad-blitz-on-google-new-use-cases-for-digital-currency\/"},"modified":"2024-04-11T02:22:17","modified_gmt":"2024-04-11T02:22:17","slug":"political-ad-blitz-on-google-new-use-cases-for-digital-currency","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/11\/political-ad-blitz-on-google-new-use-cases-for-digital-currency\/","title":{"rendered":"Political ad blitz on Google; new use cases for digital currency"},"content":{"rendered":"
\"Political<\/div>


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Happy Thursday! Political parties are amping up their advertising spends on Google for the upcoming Lok Sabha polls. More on this in today\u2019s ETtech Morning Dispatch.<\/p>\n

Also in the letter:<\/span>
\u25a0 Dehaat\u2019s consumer brand bet
\u25a0 Apple India jobs may treble
\u25a0 Mukesh Bansal\u2019s Cultfit has a new CEO<\/p>\n

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BJP tops Google ad spends as parties collectively splurge Rs 117 crore since January<\/p>\n

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Political parties are gearing up for the upcoming Lok Sabha polls as they pump in advertising dollars.<\/p>\n

Driving the news:<\/span> Data from Google Ads Transparency Centre shows that parties are shelling out nearly Rs 117 crore<\/a> on the search giant alone. This is against the Rs 10 crore spent on political ads in the runup to the 2019 general elections.<\/p>\n

BJP’s big bucks:<\/span> The biggest spender on political ads is the ruling Bharatiya Janata Party (BJP), which spent Rs 39 crore, or one-third of the total amount, on ads on Google from January 1 to April 10. The Central Bureau of Communication (CBC) \u2013 the government\u2019s nodal agency for advertising \u2013 is a close second, at Rs 32.3 crore, as per data.<\/p>\n

\"Politics<\/div>\n

Jargon buster:<\/span> In India, Google defines \u2018election ads\u2019 as those that either feature or are run by a political party, political candidate, or a member of the Lok Sabha or Vidhan Sabha.<\/p>\n

Go deeper:<\/span> During the January 1-April 10 period, the BJP ran a total of 76,800 ads on Google, data from the tech major showed. It spent the most on running ads in Uttar Pradesh, followed by Odisha, Bihar, Maharashtra and Madhya Pradesh in the last three months. These ads play up central government schemes.<\/p>\n

What’s popular?<\/span> The ad on which the ruling party spent the most was on a Hindi-language image ad promoting the Centre\u2019s Jan Dhan scheme. The second highest spend by the party was on a Tamil-language video ad promoting the Mudra loan scheme.<\/p>\n

Beyond ads, political parties are also commissioning social media influencers for digital campaigning.<\/p>\n

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Fintechs seek clarity on digital currency tieups despite RBI blessing<\/p>\n

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\"Cred<\/div>\n

With the Reserve Bank of India opening up retail pilots for central bank digital currency (CBDC) to nonbank payment system operators, banks and a few large fintechs are having conversations around how they can build use cases<\/a> for this blockchain-based financial technology.<\/p>\n

Picking up the buzz: <\/span>Multiple sources have told us that large players like IndusInd Bank, ICICI Bank and IDFC First Bank are engaging with startups on building use cases on CBDC. The idea is to build on the programmability feature of digital money and use it for targeted transactions.<\/p>\n

Early use cases:<\/span> Some of the early use cases that are being planned are around farm inputs bought with subsidy money from the government. The second is for corporate expense management for their employees. If employees get a part of their remuneration in a CBDC wallet, they can use it for their food and travel needs. With CBDC they won\u2019t even have to file these expenses at the end of their tour, since it will get instantly settled and recorded. <\/p>\n

Regulator\u2019s take:<\/span> On April 5, the central bank opened retail CBDC to regulated payment system operators<\/a>. Therefore, payment aggregators like Razorpay or wallet licence holders like PhonePe can start building solutions on top of it. <\/p>\n

RBI deputy governor T Rabi Sankar mentioned that around 200 million CBDC transactions have already been recorded. There are around 4.6 million users on CBDC and around 400,000 merchants accept such payments, he said.<\/p>\n

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Chain reaction: Apple jobs in India set for 3x jump in 3 years<\/p>\n

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\"Apple<\/div>\n

The number of people directly employed by Apple\u2019s network of parts manufacturers and suppliers in India is expected to surge more than threefold in the next three years<\/a>.<\/p>\n

Driving the news:<\/span> This is fuelled by the iPhone-maker plan to shift at least half of its current production base from China to India, sources told ET. Apple\u2019s suppliers in India who rank as top job creators include Tata Electronics, which makes enclosures for iPhones at its Hosur facility, Salcomp Technologies, which produces enclosures and power adaptors, as well as Foxlink and Sunwoda, which make cables and batteries for iPhones.<\/p>\n

In addition to this, several thousand new jobs have been created by Avary Technologies, CCL Industries and Flex, which are suppliers of iPhone sub-assemblies and components.<\/p>\n

Background:<\/span> Apple started making iPhones in India in 2017 under the PLI scheme. It works with contract manufacturers \u2014 Foxconn, Wistron and Pegatron \u2014 that have created over 77,000 direct jobs. Foxconn leads with 41,000, followed by Wistron (27,300) and Pegatron (9,200), as per data available from the government. <\/p>\n

Last week, ET reported<\/a> that Apple has emerged as the country\u2019s largest blue-collar job creator with 1.5 lakh jobs created across the phone maker\u2019s supplier network, since the start of the production-linked incentive (PLI) scheme for smartphones in August 2021. <\/p>\n

Also read |<\/span> Apple Awas Yojana: Apple ecosystem pivots to housing factory workers after job boom<\/a><\/p>\n

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Dehaat joins B2B agrifood companies in launching consumer brand<\/p>\n

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\"Agritech<\/div>\n

B2B agricultural market linkage services startup Dehaat covertly entered the consumer brands space<\/a> about six months ago in a development that is previously unreported but is a significant one in India\u2019s agritech space.<\/p>\n

Driving the news:<\/span> The Patna-headquartered startup, which commands the highest valuation among its venture capital-backed agritech peers, has recorded a monthly revenue of Rs 3 crore, growing 15-20% each month.<\/p>\n

Tell me more:<\/span> Dehaat launched its products in modern trade, quick-commerce and ecommerce platforms under the brand Honest Farms, which includes 200 stock keeping units in categories of pulses, rice and spices. <\/p>\n

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Other Top Stories By Our Reporters<\/p>\n

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\"Cultfit<\/div>\n

Cultfit elevates Naresh Krishnaswamy as CEO:<\/span> Naresh Krishnaswamy has been appointed<\/a> the chief executive of fitness startup Cultfit, with cofounder and former chief executive Mukesh Bansal moving to the position of chairman.<\/p>\n

Wipro became IT\u2019s CXO nursery under Delaporte:<\/span> While India\u2019s fourth largest software services firm Wipro bled talent and saw over a dozen exits over the last four years as its former CEO Thierry Delaporte went about his \u201ctransformation agenda\u201d at the $11 billion Bengaluru-headquartered company, the IT major produced a slew of CXOs<\/a> for the $245-billion Indian IT industry.<\/p>\n

Edtech startup Scaler lays off 150 staffers across marketing, sales functions:<\/span> Education technology startup Scaler, which helps college students and tech professionals upgrade their skills, has laid off 150 employees across its marketing and sales functions<\/a>. Scaler confirmed the development and said it was part of a strategy for long-term growth and sustainability.<\/p>\n

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Global Picks We Are Reading<\/p>\n

\u25a0 The hacking lawsuit looming over Truth Social (Wired<\/a>)
\u25a0 India\u2019s electric rickshaws are leaving EVs in the dust (Rest of World<\/a>)
\u25a0 Speed of AI development stretches risk assessments to breaking point (FT<\/a>)<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Happy Thursday! Political parties are amping up their advertising spends on Google for the upcoming Lok Sabha polls. More on this in today\u2019s ETtech Morning Dispatch. Also in the letter:\u25a0 Dehaat\u2019s consumer brand bet\u25a0 Apple India jobs may treble\u25a0 Mukesh Bansal\u2019s Cultfit has a new CEO BJP tops Google ad spends as parties collectively splurge […]<\/p>\n","protected":false},"author":2,"featured_media":23609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-109205387\/Google%20Political%20ads.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[18446,8114,21476,247,28870,28869,1098,16651,28868,28867,234],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/23608"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=23608"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/23608\/revisions"}],"predecessor-version":[{"id":23610,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/23608\/revisions\/23610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/23609"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=23608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=23608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=23608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}