No liquidity crisis in any segment barring gems & jewellery sector: Satish Marathe

Barring the gems and jewellery sector, there is no liquidity crisis for any segments in the economy, Satish Marathe, the government-nominee member on the central board of the Reserve Bank, said on November 29.

He also said the spike in the cost of funds is due to an increased risk perception, and not due to lack of liquidity in the system.

It can be noted that different perceptions about liquidity were one of the key triggers for the recent public spar between government and RBI, with the former calling for special windows for the affected sectors like NBFCs, MSMEs among others and the latter not heeding to it.

The issue reached such a flash-point that government initiated a never-before-used Section 7 of the RBI Act to formally direct central bank to implement its instructions but at the November 19 board meeting both the sides climbed down averting a major crisis.

“Concerns were being expressed about lack of liquidity, but no one is shouting for liquidity today,” Marathe, who comes from the co-operative banking sector, said speaking at a seminar at the Mumbai Marathi Patrakar Sangh here this evening.

He claimed that during the past 15 days, the situation has improved and the only problem is the increase in interest rates, as the cost of funds has gone up from 7 percent in recent past to 8 percent now.

Non-bank lenders used to get support from bodies like mutual funds and insurance companies “easily” earlier, he said, talking about the change in the current scenario.

“The only one sector that has some problems due to liquidity is gems & jewellery. Hopefully, banks will release more money to the sector. If money is not released, then it will be difficult to get exports,” he said.

It can be noted that the government has repeatedly complained about lack of liquidity and sought special interventions from RBI in the run-up to a crucial meet of the central board last week.

In fact, one of the key points among the 12 points agenda that the government had listed in the three letters North Block shot off to the RBI by October 10, was liquidity crunch being faced by NBFCs, MSMEs in particular and the overall system in general.

Marathe said macroeconomic fundamentals are strong enough with fiscal deficit and current account deficit being under control. Our forex reserves are the sixth largest in the world and are sufficient to take care of 10 months of imports, he said and exuded confidence that the rupee will appreciate to 65 against the dollar.

He said headline inflation will narrow to 3.50 percent by November or December.

[“source=gsmarena”]

A New Accelerator Model Tackles Fashion Industry’s Supply Chains

Factory45 and Market45 founder Shannon Lohr wants to help smaller startups in the sustainable fashion space.Factory45

After launching her own apparel brand {r}evolution apparel,  Shannon Lohr was burnt out. She had raised more than $60,000 on Kickstarter in 2011 to bring the idea to life and then taken it to stores across the country. But she needed a break.

She did just that and came back with a new approach to changing the fashion industry — consulting new up-and-coming brands. Her latest platform, Market45 complements Factory45, an online accelerator program that takes sustainable apparel brands from idea to launch. Market45 offers to house their creations and connect them with online customers.

Lohr says that it was her firsthand experience of starting a company and how difficult it can be that led her to set up Factory45. Specifically, she says knows the uphill battle that it takes to break into the fashion industry where supply chains are complex and often inaccessible to smaller brands. Factory45 was the first part of the solution: a business school for sustainable fashion startups, helping connect entrepreneurs with sustainable suppliers around the world.

But this realization took time, nearly a decade. In 2011, Lohr and a friend decided to launch sustainable fashion brand {r}evolution. Following a Kickstarter campaign that became the highest-funded fashion project in Kickstarter history at the time, the pair tripled their goal and quadrupled their first production run. After a sustainable fashion tour of the Pacific Northwest, the two were exhausted though.

At the end of 2012, Lohr sold her portion of the company to her co-founder and moved into consulting, putting to use all the skills she’d picked up during her own stint as an apparel entrepreneur. Although she had stepped away from running her own brand, Lohr realized that all the time she had spent fighting to get her foot through the door could save other designers the effort.

[“source=forbes]

The Making of Georgian Fashion Moment: Tbilisi Fashion Week

From those tiny sunglasses seen on just about every celebrity to cover-rocking distressed denim outfits, Georgian designers have been setting major micro-trends lately. How big is Georgian fashion right now? Well, Tbilisi features two fashion weeks to accommodate its growing number of designers wanting to present to the international visiting crowds of press, buyers, and influencers. We start our series on emerging Georgian fashion industry with the 18th edition of Tbilisi Fashion Week.

Tako Chkheidze (center) with Georgian actresses Irinka Kavsadze (the granddaughter of the Bela Mirianshvili) and Gogola Kalandadze.Courtesy of Tbilisi Fashion Week

Dedicated to the beloved 1960’s Georgian actress Bela Mirianashvili, the grand opening took place high above the city at the spectacular terraces of the Funicular restaurant. Guests were greeted by models in modest monochrome dresses evoking nostalgia for a bygone era of cinema and a slower pace of pre-digital life. Fashion week founder Tako Chkheidze spoke eloquently about art and fashion not as perpetually transient frenetic trends, but as cultural forces leaving a lasting influence. By choosing to dedicate the events to a style icon from a period of Soviet censorship and scarcity, organizers highlighted the creative spirit that has always prevailed in Georgia! Such an intro was perfect for the week’s agenda focused on eco fashion.

Éthéré Accessoire presentation at the GhvinisUbani art spaceCourtesy of Tbilisi Fashion Week

The spring-summer 2019 collections were presented at the Ghvinis Ubani, a former Wine Factory turned multifunctional arts space, with several noteworthy locations such as the Museum of Modern Art and Chaikana Bazar serving as additional stages. In place of the conventional catwalk the runway was converted in an attractive pasture of synthetic grass to highlight the theme: “We must take care of nature.” Designer Lasha Jokhadze opened the show with an unusual theatrical presentation of his sophisticated all-black evening wear collection. His models were arranged lying down and as the music started, they helped each other rise to their feet and walked around hand-in-hand.

Lasha Jokhadze S/S 2019Courtesy of Tbilisi Fashion Week

Designer Tatia Korsava was a winner of the Tbilisi Fashion Week talent competition last season with a menswear debut inspired by medieval arts and neo-expressionist motifs in paintings by Merab Abramishvili. She made a strong highly-anticipated comeback with a post-apocalyptic collection reflecting modern ecological threats. Models wore protective trench coats, rubber suits, military jumpsuits and gas masks. Korsava playfully challenged gender norms, pairing ragged menswear with feminine glossy pleather waist-cinching bodices, bird-print silk blouses, and see-through mesh shirts.

Tatia Korsava S/S 2019Courtesy of Tbilisi Fashion Week

Another gender-bending twist on proportions and silhouette came from the Russian brand 1377. It re-conceptualized menswear staples with inclusion of mixed textures and elements typically reserved for women or children: flower appliques, flowing capes, and lurex tights. Even the lapti¸ the quintessential Russian peasant tree bark shoes, felt authentic in this well-thought-out presentation.

[“source=forbes]

This Latina Fashion Designer Shares All She Has Learned Since Selling Her First Dress

Alexia Maria Alexia Maria

Alexia María started designing clothes for herself long before she ever designed a look for anyone else. Over time, and thanks to word of mouth and a strong social media presence, María was able to build a brand that has led to actors like America Ferrera and singers like Gwen Stefani wearing her looks.

In growing the brand from a business that sold primarily to friends and family to one that can be shopped at two flagship locations – one in California and one in New York — as well as online, María had to learn to juggle the demands from both the creative and business side of any new business.

“It takes a lot of discipline and a great team to give your 100% to both sides,” shares María. “With the help of my amazing team, I am able to completely focus on design when I need to. With their support I am able to let go of the business side for a while and just dive into designing.”

As an immigrant and Latina in the fashion space, María understands that women are layered and that the clothes they choose to wear reflect their heart above all.

“If you are comfortable with what you are wearing, you will be confident and be the best version of yourself,” notes María.

Below María shares her advice to other designers and entrepreneurs, how her Latinidad has influenced the trajectory of her career, and how she navigated making the jump to being a fashion designer.

[“source=forbes]

Three Ethical Retailers For Your Next Sustainable Fashion Purchase

Think of your most recent clothing purchase: do you know where it was manufactured, whether the people who made it were treated fairly, whether any animals were harmed or the environmental impact of its production?

Though most people couldn’t answer these questions, there’s an increasing proportion of consumers that are becoming conscious of what they’re buying.

Ethical spending now accounts for £81.3 billion of the UK retail market, according to Ethical Consumer, and KPMG’s latest annual retail survey noted that almost 20% of shoppers were drawn to retailers that they know ethically source their goods.

Although high street brands such as H&M and Zara have launched conscious lines, shoppers who are clued up on sustainability are growing frustrated with fast fashion brands who only dip into the ethical retail world.

Instead, these are three retailers who provide conscious consumers with a huge selection of clothes, accessories and more, all of which is produced ethically and sustainably.

Gather & See

Every ethical shopper is different: one might care more about the workers behind the products; another might be concerned about buying only environmentally-friendly items.

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Gather & See understands that, and the store allows its customers to shop by their priority.

Not only can people filter its products by type or designer, but they can also select them by choosing one of the retailer’s five founding philosophies: fair trade, organic, eco-friendly, small scale production and heritage.

Gather & See adapts to each shopper’s ethical priority.Photo: Gather&See

The shop stocks clothing, accessories and jewelry that fits every budget, from affordable fashion to luxury, targeting the fashion-savvy, ethically-minded customer.

Gather & See is a relatively new retailer, founded four years ago by two fashionable women who were fed up of feeling disconnected from the production process.

Now, they ensure each of the more than 40 designers featured on their site produces clothing that fits into at least two of Gather & See’s philosophies. For them, it’s just as much about the ethics as the aesthetics.

People Tree

Founded 27 years ago, People Tree is one of the most well-established ethical retailers around. The shop’s mission is simple: to be 100% fair trade throughout their supply chain.

But what does “fair trade” mean? It’s a way of doing business that guarantees workers aren’t discriminated against. They are provided with good working conditions, their rights are protected, and they are paid sustainable prices for their products.

That means People Tree’s wide range of women’s fashion, that offers everything from cozy knitted jumpers to party dresses, is created by workers in the developing world who are treated well and not exploited.

People Tree is 100% fair trade throughout their supply chain.Photo: People Tree

Not only does People Tree strive for its stock to be ethically-sourced, but it’s also aware of the environmental impact of fashion.

You can trust that its clothing is all made with organic cotton and other sustainable materials, and colored using safe dyes. Even better, as many of its products as possible are shipped by sea, in order to reduce the retailers’ contribution to global warming.

[“source=forbes]

Ariana Grande Is The New ‘Mean Girl’ In Teaser For ‘thank u, next’ Video

Ariana Grande performs at Wango Tango at Banc of California Stadium on Saturday, June 2, 2018, in Los Angeles. (Photo by Chris Pizzello/Invision/AP)Invision

To say that the entertainment industry has gotten reboot- and sequel-crazy in the last few years is a comical understatement. SabrinaThe Teenage Witch is haunting our screens again, and Tyra Banks is coming out of her box in less than a week in the premiere of Life-Size 2. Mean Girls received a much-maligned sequel treatment eight years ago (and a polarizing Broadway musical just this year), so fans of the original movie have every right to feel protective against any new adaptations. Following the hype surrounding the franchise that the Broadway production aroused earlier this year, fans are once again returning to North Shore High School—and learning more about Regina George’s brunette foil: a cheerleader named Ariana Grande.

In a trailer released for her upcoming “thank u, next” video, Grande actually never once makes an appearance. Instead, the trailer is a reimagining of Mean Girls‘s beloved “How do I begin to explain Regina George?” sequence, featuring characters old and new making Grande’s mysterious character that much more interesting.

Fans of the movie will instantly recognize Jonathan Bennett reprising his role as Aaron Samuels (still with his hair sexily pushed back), as well as Stephanie Drummond—this time as someone breaks off her engagement after Ariana did the same thing, and not someone who overjoyed in being punched by Regina George. A few other North Shore students—played by welcome guest stars like singer Troye Sivan and YouTube personality Colleen Ballinger—recount their own rumors they’ve heard about the regal Grande: that her snoring played backwards sounds like Fantasia, that people punch themselves because she said so, and that she’s dating a girl named “Aubrey” (a nod to the song’s often-misheard lyric “Her name is Ari”). It’s an endearing tribute to a treasured movie, and is reportedly only one of the cherished female-led comedies that the video will pay homage to.

Grande has yet to announce when the visual will be released, but could arrive before the week is out. One thing’s for sure: when the inevitable Legally Blonde reboot eventually comes around, the casting director should consider her their first choice for Jennifer Coolidge’s iconic role.

[“source=forbes]

Aditya Birla Real Estate Fund’s fund blues

g_111057_real_estate_fund_280x210.jpgThe year was 2009. Indian real estate was in a shambles, as were real estate private equity funds, especially foreign ones, which provided an opportunity for homegrown firms to launch their funds. One of them was the Aditya Birla Group-backed Aditya Birla Real Estate Fund (ABREF).

In 2010, ABREF raised ₹1,056 crore; but in August 2018, when the fund’s lifecycle came to a close, it was yet to exit most of its investments or return even the principal amount.

ABREF was raised by Aditya Birla Sun Life AMC Ltd, previously known as Birla Sun Life Asset Management Co Ltd. The fund’s documents show that it was primarily raised on the assumption that demand for residential realty would reach 7.5 million units by 2013, led by Mumbai, Bengaluru and Hyderabad.

By 2015, the fund had invested 44 percent of its capital in Mumbai and 28 percent each in the National Capital Region (NCR) and Chennai. It had a mandate to invest in equity, equity-related and debt instruments of companies engaged in construction and development of real estate assets, including residential, commercial, retail and other projects. It, however, invested only in residential projects.

Ironically, though, even as the fund’s private placement document says “residential realty—the juicy bit”, there is no juice for the investors of this fund.

According to documents accessed by Forbes India, ABREF’s life tenure was six years, with two one-year extensions, which ended this August. It was a close-ended fund, meaning the capital had to be returned by the end of its life. In August, ABREF notified its investors that due to the global financial crisis and subdued real estate markets, coupled with a liquidity crunch, the fund had been unable to liquidate its position and return capital to investors. And that they were seeking an extension.

[“source=forbes]

From YouTube Star To Obama Interviewer: Liza Koshy, 22, Is Creating A Digital Media Empire

She specializes in punnery, physical gags and parodies. One of her widely watched videos spoofs the makeup tutorials that have proliferated across YouTube. And she has several popular characters, like her male, mustachioed alter ego, Jet Packinski III. “He’s a very handsome man. I believe I’m better looking as a dude than a girl,” Koshy says.

In the last few years, the 22-year-old has become one of YouTube’s biggest stars, earned a spot on Forbes’ latest 30 Under 30 list—and made the leap to traditional media. “The worst advice I’ve ever received was ‘Don’t post on YouTube, it’s dying,’” says Koshy, who earned an estimated seven figures in 2017, thanks largely to her online output.

Read the complete 2019 Forbes 30 Under 30 package.

Like many other digital-native stars, the Houston-born Koshy got her start on (now-defunct) Vine. She began shooting six-second videos on her cellphone as a teen in 2013, just months after the app’s January launch. Her first clip featured her climbing on top of a car with friends. “It was just me, with my phone, in my car, dancing along, talking or making a really bad joke,” she recalls. “Which is why Vine died. Sorry about that.”

Her comedy—and her camera skills—developed, and soon she was using cutaway shots to create skits and sight gags, including tying her hair into flopping bunches and pretending to be a butterfly. They appealed to her young audience, which grew to 7 million followers on Vine alone. Soon she wanted to go beyond Vine’s short clips. “I eventually realized that I could talk for much longer than that.”

So she parlayed her popularity into a YouTube channel in July 2015, where she began posting weekly. She introduced herself as “Liza the little brown girl”—her mother is white, her father is Indian—and expanded her comedy and range of characters. In addition to Jet Packinski, there is Helga, a bespectacled, frazzled foreigner, and Carlos Q, an macho Hispanic man. Other popular series include “Driving with Liza” and “Grocery Shopping with Liza,” where she films herself on the go, interlaying errands with songs and silly faces. In a sign of her increasing stardom, she interviewed President Obama for a get-out-the-vote initiative in 2016. “You can’t legally show it on camera, but I actually voted on my absentee ballot [during the video],” she says.

Koshy’s mobile-first audience largely comprises members of Generation Z, people born between 1996 and 2010. According to Nielsen, 97% of Generation Z own a smartphone, and the cohort boasts a reported $44 billion in spending power. Hence Koshy’s appeal to advertisers, who have sponsored her content and hired her for ads, including a series for Beats by Dre headphones. The spots reportedly have four times the click-through rate—the percentage of people visiting the product online after seeing the ad—than other promotions starring celebrities like NFL quarterback Tom Brady.

Her business has expanded with her audience. In 2016, she branched out into a second YouTube channel of more one-off videos that don’t feature regular activities or characters. Popular uploads include reaction videos of her watching her own old, cringeworthy vines (19 million views) or of her reacting to teens watching her videos (17 million views); the subsidiary channel has an additional 7.3 million subscribers.

With an expanding YouTube presence, Koshy has caught the eye of traditional TV executives. In 2017, she became a host of MTV’s resurrected TRL, scored a role in Hulu’s drama Freakish and nabbed a part in Tyler Perry’s Boo! A Madea Halloween. This year, she was hired as the face of Nickelodeon’s Double Dare reboot.

“All of these different opportunities came from YouTube,” she explains. So Koshy is staying close to the source: In 2018 she created, produced and starred in her own YouTube Originals series, Liza on Demand, in which she works in the gig economy.

Next up: a Liza Koshy line of bags, out this fall. “You can’t play a high school student forever, so at some point I’m going to have to tear down that wall and tear off that wig and be me,” says Koshy.

[“source=forbes]

Former Facebook Manager Says The Company Has A ‘Black People Problem’

Bloomberg Royalty Free© 2018 Bloomberg Finance LP

Today, Mark S. Luckie, a former manager at Facebook, posted a memo about how Facebook treats its Black employees. In the memo, Luckie indicates that “Black people are finding that their attempts to create ‘safe spaces’ on Facebook…are being derailed by the platform itself.” Luckie explained claims of mistreatment in more detail throughout the memo mentioning that Black people’s content has been removed without notice. Luckie also mentioned that underrepresented groups have been excluded on both Instagram and Facebook, with less visibility and access given to them. He went on to also explain that increasing diversity does not solve the inclusion issue; diversity without inclusion is ineffective. Luckie also explained how microaggressions have created hostile work environments to many different Facebook employees he’s spoken to. When employees complain and report these issues to Human Resources (HR), they are made to feel as if the incidents are “a figment of [their] imagination.” Some Black employees may be hesitant to express their feelings about the mistreatment for fear of losing their job or retaliation. Despite the efforts Facebook has made to be more inclusive (employee resource groups, their diversity team), the company is unsuccessful at truly fostering a culture of inclusion for its Black employees.

How can the tech industry foster not only a more diverse environment but also a more inclusive environment that is more welcoming to Black people and other underrepresented groups?

    1. The first step in fostering a diverse and inclusive environment is conducting an audit of the current diversity climate within the organization. Enlist the opinions of employees, as well as customers, on how to improve different aspects of the organization. Luckie suggested implementing focus groups with people of color, which is an excellent suggestion. Focus groups can play a fundamental role in helping organizations assess how to make their products and services better. If multiple users are complaining about a specific issue (i.e. Black Facebook and Instagram user posts being removed and accounts being suspended), this should be addressed and dealt with.
    2. Luckie mentioned one solution is cultural competency training. An addition to this suggestion is that the training should be done on a frequent and ongoing basis. Research indicates that diversity training is successful when it is delivered over a significant period of time. Training can also impact the frequency of microaggressions, making the workplace a more inviting environment. Leaders should be required to participate in training, as well as each staff member in the organization.
    1. Diversity goes beyond just the numbers. The attraction of diverse talent is just one piece of the puzzle. The often more challenging aspect of diversity is figuring out how to foster a culture of inclusion for all. Are you allowing diverse talent to have a seat at the table? Assess team-building activities in the organization. Is everyone invited to the after-work events and parties? What is being done in the organization to foster interpersonal connections? Evaluate what is currently being done and figure out what could be done better.
    2. HR departments are often the first line of defense when employees feel that they’ve been mistreated. The HR department should have a clear plan for addressing these issues. Complaints made should be investigated and examined frequently. If there is a consistent or recurring claim being made, it should be dealt with. Luckie suggested creating “internal systems for employees to anonymously report microaggressions.” This can be an effective strategy. Employees may want to complain or report an incident but fear it will impact their job and status at the organization. Companies may benefit from integrating an anonymous system in which employees can report issues that occur, without fears of repercussions.

[“source=forbes]