19, Jun 2023
Surfshark hosted the Influencer Awards

Michael Henry, Mrwhosetheboss, and TomSka & Friends are among the winners

Cybersecurity company Surfshark hosted the first ever Influencers Awards to find out the best creators’ collaboration with the brand. A panel of 8 experts voted for the most notable partnerships in 8 different categories, from the funniest product integration to the best acting. TomSka & Friends were nominated in three categories and won awards in two of them.

“The popularity of influencers is determined by the viewers. Meanwhile, we wanted to recognize another, but equally important, aspect of their work – the partnership with business and the efforts made to build it and show it to the audiences. Working with the best influencers of the world, we’ve gained a lot of great partnership examples that we wanted to acknowledge”, says Giedrius Petraitis, Head of Influencer Marketing & Brand Partnerships at Surfshark.

To find out the winners, a panel of 8 international business, marketing, and digital media experts from Croatia, Estonia, Taiwan, Portugal, the UK, and the US voted for the best influencers’ collaboration with Surfshark. From a wide range of creators, the jury came up with a shortlist of 4 influencers in each of 8 categories and then voted for the best ones.

The following influencers have been declared winners:

  1. Best Explanation of the Product – Mrwhosetheboss;
  2. Best Storyline – TomSka & Friends;
  3. Best Animated Integration – Greasy Tales;
  4. Most Hilarious Integration – Michael Henry;
  5. Best Use of a Prop – colinfurze;
  6. Best Visual Effects – 超粒方;
  7. Best Acting Performance – TomSka & Friends;
  8. Best Original Song – WinnerMax.

All of the winners have gotten the specially created Surfshark award statue, the stylized surfing board. This is the first time in Surfshark’s history that the awards have been held, but the organisers hope to make it an annual event.

All of the nominations, winners, and the integrations can be found in the awards ceremony video here: https://www.youtube.com/watch?v=nTvNo5N3RNM 

19, Jun 2023
Operational Budget Challenges Bring Uplift to OT Risk Management, says Radiflow
Ilan Barda, Founder and CEO of Radiflow
Ilan Barda, Founder and CEO of Radiflow

Partnering with cross-industry players, Radiflow pools data sets that illuminate the full OT network and its vulnerabilities. “Relieving CISOs of tedious visibility gathering tasks grants them an extensive view to quickly deploy large-scale OT security operations,” said Ilan Barda, Co-Founder & CEO of Radiflow.

Tel Aviv, Israel, June 19, 2023– Radiflow, creators of the leading OT network cybersecurity platform CIARA, continue to see budgetary pressure as a main driver in prioritizing OT Cybersecurity projects. This has created opportunities for more partnerships across the OT Cybersecurity sector, resulting in greater flexibility and coverage in the analysis of OT networks.

CISOs of OT operational facilities, such as production plants, utility operations, critical infrastructure, and logistics centers, are facing a hostile environment where outdated machines are susceptible to attack for financial gain or political statements. In response, Radiflow recently released CIARA 4.0, focusing on illuminating the vulnerabilities of all network devices and mapping of the recommended security controls using a breach attack simulation (BAS) engine.

Radiflow has partnered with industry leaders to feed greater data into its analytics platform and provide quick risk assessment insights to help CISOs optimize and justify OT security budgets despite the overall pressure for budget cuts. One such major integration is with Awen Collective to conduct in-depth asset discovery for critical infrastructure networks. Awen Collective provides Dot, an OT Asset discovery tool with a lightweight nature that can be deployed in a scalable way on portable devices in distributed OT networks. The in-depth assets map generated by Dot can now be uploaded into Radiflow’s CIARA to perform a data-driven risk assessment and quickly provide accurate risk scoring for large industrial enterprises.

“The OT cyber security industry is maturing and better serving the needs of our critical infrastructure, manufacturing, and defense organizations by working collaboratively to deliver better solutions,” said Jules Farrow-Lesnianski, Co-Founder & CEO of Awen Collective. “Providing in-depth visibility of traditionally hard-to-reach OT networks using Dot to Radiflow’s CIARA significantly increases our client’s ability to quickly and accurately quantify and mitigate OT cyber risk.”

Another partnership is with Atrinet Networks, a provider of a Network Management System (NMS). The NetACE tool of Atrinet can query a multitude of network infrastructure devices and generate a map of the assets in the network for the Radiflow CIARA tool without requiring the configuration of a span port in the OT network switches, thus simplifying the initial risk assessment exercise.

“Partnering across the industry allows us to pool together previously unidentifiable data, enabling greater automation across the full OT network,” said Ilan Barda, Co-Founder & CEO of Radiflow. “Relieving CISOs of tedious visibility gathering tasks grants them an extensive view to quickly deploy large-scale OT Cybersecurity operations.” These capabilities bring them in line with automation and continuous threat analysis which are being increasingly required in the dynamic market landscape.

To support the sector’s growth, Radiflow has opened offices in Spain, Germany, the Czech Republic, the Netherlands, and Italy, overall tripling its EMEA sales team in the last 9 months.

19, Jun 2023
Rabiul Rhmn the Youngest & Fastest Growing Music Artist

Rabiul Rahaman professionally known as Rabiul Rhmn is an Indian popular Music Artist, Actor, Producer & Composer. His Music is live on Spotify, YouTube & 300+ Music Platforms. Later Rabiul Rhmn made his own Record label Rhmn Records, Rabiul Records. Which is set up by him in 2022.

Rabiul Rhmn the Youngest & Fastest Growing Music Artist

Rabiul Rhmn Knowledge panel Data

      • Full name: Rabiul Rahaman
      • tage name: Rabiul Rhmn
      • Born: 27th May 2005, Kolkata, India
    • Height: 5 ft 9 inch
    • Earning: 50L/Month
  • Education: Massachusetts Institute of Technology (MIT)
  • Parents: Majibul Rahaman, Rosnara Begam
  • Sibling: Suhal Rahaman
  • Record Label: Rhmn Records, Rabiul Records, Sony Music India, T-Series, Zee Music Company, Saregama, YRF
  • Digital, Eros Music, Tips Industries, Universal Music India
  • Genre: Indie Pop, Electronic Pop
  • Awards: Top Lofi Artist, Youngest Music Artist, Multi-Talented Artist, Top Handsome Music Artist, Most Stream Indie Pop Artist

Music industry: Rabiul Rhmn is an Indian popular Music Artist, Producer & Composer. He was born on 27th May 2005 in Kolkata, West Bengal, India. Rabiul Rhmn was interested in music from his childhood. But being from a poor family his father Majibul Rahaman & mother Rosnara Begam advised him to continue his study for a job. Rabiul Rhmn accept it and continued studying with his brother Suhal Rahaman. Both of them work hard to complete their study at the College of Mit.

Later, when he finished his study, then he decided to move on to the music industry. Rabiul Rhmn started his music career journey at the age of 15 with his first track Mar Jayenge & then he work consistently to get popularity. And his wish comes true after 1 year when Rabiul Rhmn got signed with some of Indian biggest Record labels such as Sony Music India, T-Series, Zee Music Company, Saregama, YRF Digital, Eros Music, Tips Industries, Universal Music India, and much more. He gave back-to-back hit songs and became fastest & youngest growing Artist in India.

The growth he got as an Artist no other artist done it before. After it he got lot of chance to collaborate with some high level artist such as Arijit Singh, Sonu Nigam, Atif Aslam, Jubin nautiyal, and more.

He also worked as a composer of Lofi, Slowed Reverb, Remixes. He made his big popularity on it. His song hits millions of view & likes. Till now he got all time stream on Spotify 500 Million & 2 Billion on YouTube. For this incredible talent he won lot of awards such as Top Lofi Artist, Youngest Music Artist, Multi-Talented Artist, Top Handsome Music Artist, Most Stream Indie Artist.

Later when the popularity of lofi songs got crazy he switched on it & also he grabed a fanbase. Not only for his talent but also he is one of the most handsome music artists in India. For this level of talent & handsomeness made him a well know celebrity in music industry.

Film Industry: After the music industry he Film Industry: Being a Musical Artist later he got a chance to be an Actor
& he did it as well in his various movies like Pushpa the Rule, Pathaan, War 2, Tiger 3, Jawan, Salaar, NTR
30, RRR, etc.

 

Editor’s note: This news is published with reference to a release shared by Rabiul Rahaman. For facts and figures, he can be reached on his number: +91 6296 773 814

19, Jun 2023
Beauty & Wellness Sector Skill Council Kicked Off a Countdown to Celebrate International Yoga Day

B&WSSC CONVEYED THE MESSAGE TO SAY YES TO YOG &i NO TO ROG

In light of the fact that it takes 21 days to fully form a new habit, B&WSSC kicked off the 21-day countdown to International Day of Yoga. Taking this momentum to the next level and to celebrate the onset of International Yoga Day, B&WSSC organized a morning Yoga session on 16th June’2023 in association with FICSI to spread the importance & awareness of Yoga in our ecosystem.Yoga day

The 21-day countdown to International Day of Yoga was designed to create a habit of practice for individuals. This was to ensure that the knowledge and importance of Yoga is not only shared but also practiced.

The session was conducted by renowned yoga expert, Shri Amit Kumar Ji and his team members. They guided the participants through various yoga asanas. The event was attended by people from different walks of life who learnt the importance of yoga and the multiple health benefits it can offer.

Speaking on the occasion, Mr Monica Bahl, CEO, Beauty & Wellness Sector Skill Coundil informed, “B&WSSC celebrated this day to carry forward the legacy of yoga, as well as the concept of EK VISHWA, EK SWASTHY – VASUDHAIV KUTUMBKAM. Besides teaching and practicing Yoga the session also aimed to instill a sense of unity and holistic well-being among all, in line with the famous Sanskrit mantra, “Vasudhaiva Kutumbakam” which translates to “The World is One Family.” By teaching this ancient practice, the organization seeks to bring the idea of ‘Vasudhaiva Kutumbakam’ to life, celebrating humanity and our shared sense of belonging and wellbeing. The event conveys the message ‘Say Yes to Yog, No to Rog’.

Yoga day

This is to be noted that by hosting such events, the Beauty and Wellness Sector Skill Council aims to create an environment that encourages individuals to stay proactive in taking control of their physical and mental health. The council is dedicated to cultivating an inclusive and holistic understanding of health and wellbeing. Monica Bahl ji further added, “Our Prime Minister Narendra Modi Ji’s is dedicated to promoting yoga around the world. In addition to promoting yoga’s physical and mental health benefits, he is also committed to sharing the spiritual and cultural significance of the practice. His vision is to make yoga more accessible to people of all backgrounds. And in the end, the small steps we took today led us closer to his future goals.The beauty and wellness sector skill council believes that healthy practices and wellbeing can only be achieved through collective action and dedication. Therefore, the council is constantly taking initiatives to bring together a community of individuals who are passionate about leading a healthier life. Events like today’s are an important way for the council to foster that community and to raise awareness about the importance of healthy practices.

The Yoga event took place in Shriram Bhartiya Kala Kendra Building, Ground Copernicus Marg, New Delhi. The event was a complete success and left everyone feeling refreshed and rejuvenated. Everyone was delighted to learn the ancient art of yoga and how to incorporate it into their daily routine. The event was truly remarkable and left everyone feeling energized and revitalized.

19, Jun 2023
Garuda Aerospace unveiled cutting edge Drone Technology and Global expansion plans at Paris Viva Tech Event 2023

19th June 2023, India,

Garuda Aerospace, India’s leading drone technology company, participated in the prestigious Viva Technology Event 2023- Europe’s largest tech and startup summit in Paris, France from 14th-17th June. Recognized as one of the best startups in India, Garuda Aerospace was exclusively invited by the Government of India to represent the nation and join the esteemed Indian Delegation at the event.

Vayu Drone-Raghavendra Ravichandran, Chief of Staff, Garuda Aerospace
Vayu Drone-Raghavendra Ravichandran, Chief of Staff, Garuda Aerospace

Viva Technology, renowned as the world’s premier tech and innovation event, drew a staggering attendance of 91,000 participants from 146 countries. Amongst the exclusive selection of only 10 drone startups worldwide, Garuda Aerospace stood out as a beacon of innovation, amongst 20 startups representing India across various sectors.

At Viva Technology, Garuda Aerospace showcased its groundbreaking VAYU drone, specifically designed for mapping and surveying purposes. Boasting an impressive payload capacity of 1.5 kg and a maximum take-off weight of 13.5 kg. The drone’s high-resolution 20 MP camera offers unparalleled clarity and precision for capturing detailed images and data during mapping and surveying missions. With a remarkable range of 150 km and a flying speed of 27 m/s, the VAYU drone stands as a game-changer in the field of unmanned aerial technology.

Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace, expressed his enthusiasm about the event, stating, “Participating in Viva Technology as part of the Indian Delegation is a tremendous honour for Garuda Aerospace. As the drone ecosystem develops expeditiously, we are attracting global companies to rely on Indian Drone Solutions. As Make in India Drones have become preferable for Global companies they are using Garuda Kisan Drones to get the best results in agricultural production.

“The Global Partnerships will help advance capabilities and improve overall productivity for the drone services. This will also help achieve world-class technologies and innovations and provide solutions to the customers. We plan to expand to 100 countries over the next 12 months and export 10,000 drones that are 100 each drone to 100 countries by the end of the year and participate to represent India and contribute to the country’s reputation as a hub for technological advancements.” concluded Agnishwar Jayaprakash.

Speaking about the event, Raghavendra Ravichandran, Chief of Staff, Garuda Aerospace, “Being selected as one of the 20 startups from India, amidst tough competition, highlights our technology’s exceptional quality and ingenuity. Viva Technology has provided us with a great platform to network, collaborate, and forge strategic partnerships, propelling Garuda Aerospace into new realms of success.”

The invitation to Viva Technology 2023 was extended exclusively to startups with truly innovative technology, recommended by their respective countries. Garuda Aerospace’s participation stands as a testament to the company’s pioneering work in the drone industry, elevating its position as a global player.

19, Jun 2023
Leading GCC Sun Life Asia Services Centres repositions itself as Sun Life Global Solutions

Bengaluru, June 19, 2023: Sun Life Asia Service Centres (ASC), a microcosm of the global insurance and asset management leader Sun Life, repositions itself as Sun Life Global Solutions (SLGS). The strategic move aims to advance the organization’s value proposition and further its journey in close collaboration with Sun Life’s business groups. In line with its ambitious growth trajectory, SLGS aims to recruit 1000 approx. new talent in the next two years. This significant expansion presents a distinct opportunity for skilled workforce in India and Philippines to collaborate with Sun Life, effectively showcasing their exceptional capabilities and immense potential.

The new name Sun Life Global Solutions (SLGS) underscores its global impact delivered through developing solutions, experiences and furthering innovation. With this strategic evolution, SLGS will also reaffirm its position as a key talent hub for Technology, Operations and Client care center. In addition, it will also lay focus on its expertise in key knowledge skills like actuarial, finance services, legal services, risk and compliance monitoring.

Sun Life plays an essential role for its Clients in the areas that matter most to them, and takes great pride in helping them build brighter, optimistic futures for themselves and their families. The goal is to build deeper digital relationships and more personalized experiences so we can better anticipate and serve our Clients’ unique needs. SLGS brings deep technology and digital capabilities by attracting top talent and a constantly upskilling workforce comprised of dynamic and motivated professionals.

 Mr. Tarun Sareen, Managing Director, Sun Life Global Solutions
Mr. Tarun Sareen, Managing Director, Sun Life Global Solutions

Expressing his views on the repositioning, Mr. Tarun Sareen, Managing Director, Sun Life Global Solutions, said, “It is truly a privilege to be the enablers driving the organisational Purpose of Sun Life in India and Philippines. The word Global reflects our outreach and the collaborative journey with Business Groups across the globe. And the word Solutions emphasizes our focus on designing and delivering solutions to our clients and advisors – be it through a digital asset, a transaction we process, a Client call we cater to or a solution. Solutions to us signify optimism and taking the forefront to solve challenges, create pathways and manifest opportunities – and keep on architecting and solving for the future. This is what makes us – Sun Life Global Solutions “

He further said, “Our culture is our superpower. SLGS takes pride in being a Great Place to Work. We are committed to nurturing a purpose led and values driven culture where we all do best work of our lives thriving in a diverse, equitable and inclusive work environment. We believe in truly empowering our teams through a caring and thriving workplace encouraging them to bring their whole and authentic selves to work. Further with a shared vision and purpose, inclusive leadership, people centric practices we are building a highly engaged workforce which imbibes a sense of belonging.”

Sun Life Global Solutions plays a key role in driving the organisation’s enterprise strategy. They provide services and solutions to all pillars – Canada, Asia, US and Asset Management and Corporate functions. Over the course of its journey, SLGS has evolved as a key capability hub, creating many assets for the organization like Client Care Centre, Operations, Technology, Financial shared services, Actuarial, Legal and HR Shared services amongst others. Sun life Global Solutions will play an even larger role in the coming years by nurturing a stronger talent pool and leading digital and transformation initiatives.

Sun Life Global Solutions is a listening, caring and vibrant organization, its consistent high engagement scores speak of this culture. SLGS has received the Great Place to Work honorifics, ranked among the “Top 100 Best Companies for Women in India”, SLGS has been featured among India’s Best Workplaces in IT & IT-BPM 2022 – Top 50 by Great Places to Work. These recognitions reflect our Culture, practices, and focus on being a purpose-led organization well-equipped to serve business priorities and deliver exceptional value for its clients.

19, Jun 2023
New Book Explores the Life of a Police Officer

 CRPF officer Rakesh Kumar Singh

New Delhi: – A new book, Behind the Uniform: Not Just a Cop, provides a unique insight into the life of a police officer. Written by serving CRPF officer Rakesh Kumar Singh and psychologist Ms. Shubhangi Singh, the book offers a behind-the-scenes look at the challenges and rewards of police work.

“We wanted to write this book to give people a better understanding of what it’s like to be a police officer,” said Singh. “We hope that by sharing our experiences, we can help to build a more positive relationship between the police and the community.”

 Life of a Police Officer

The book covers a wide range of topics, including the day-to-day duties of a police officer, the challenges of dealing with crime and violence, and the importance of community policing. It also includes personal stories from the authors about their experiences on the job.

“We hope that this book will help to dispel some of the myths and stereotypes about police officers,” said Ms. Shubhangi. “We want people to know that we are human beings just like them, and that we are committed to serving and protecting our communities.”

Behind the Uniform: Not Just a Cop is also a sort of self-help guide for policemen who are facing stress and mental agonies owing to service conditions and a must-read for them.

19, Jun 2023
Start-up valuations are dropping globally

Bengaluru India June 19, 2023 – Recent market analysis reveals a substantial decline in start-up valuations across the globe. This downward trend has raised concerns among investors, entrepreneurs, and industry experts. The decreasing valuations indicate a shift in the start-up ecosystem and highlight the need for careful assessment and adaptation in this evolving landscape opines Venu Kondur CEO Lobb Logistics.

Venu Kondur CEO Lobb Logistics

Factors contributing to the drop in start-up valuations are multi-faceted and influenced by a combination of market dynamics, investor sentiment, and regulatory changes. Some key factors include:

Market Correction: After a prolonged period of rapid growth and high valuations, the market is undergoing a natural correction. Investor expectations have shifted towards more realistic and sustainable valuations, leading to a recalibration in start-up pricing.

Increased Scrutiny: Investors are becoming more discerning and cautious in their investments, conducting thorough due diligence and demanding stronger business fundamentals. Start-ups with unproven business models or unsustainable growth trajectories are experiencing downward pressure on their valuations.

Regulatory Environment: Regulatory changes, particularly in areas such as data privacy, digital currencies, and technology governance, have introduced uncertainties and increased compliance costs. These factors can negatively impact start-up valuations, as investors factor in potential risks and legal challenges.

Evolving Investor Landscape: The investment landscape for start-ups is evolving, with a shift in focus towards sectors such as health-tech, climate tech, and sustainable solutions. Start-ups operating in other sectors may face greater challenges in attracting funding and achieving favourable valuations.

While the decline in start-up valuations presents challenges, it also brings opportunities for entrepreneurs and investors. This changing landscape encourages a renewed focus on business fundamentals, sustainable growth strategies, and demonstrating clear value propositions to investors.

Industry experts emphasize the importance of adopting a long-term perspective and adjusting strategies accordingly. Start-ups should prioritize building robust business models, cultivating strong customer relationships, and differentiating themselves in the market to withstand market fluctuations and attract investment.

Investors, on the other hand, are advised to conduct thorough due diligence, carefully assessing a start-up’s market potential, team expertise, competitive advantages, and scalability before making investment decisions. Collaborative partnerships and strategic investments in promising start-ups can yield significant returns in the long run.

“While the decline in start-up valuations may present challenges, it also brings an opportunity for entrepreneurs and investors to recalibrate their strategies and build sustainable businesses,” said Venu Kondur, CEO Lobb Logistics. “By focusing on solid fundamentals and addressing market needs, start-ups can position themselves for long-term success despite the changing investment landscape.”

The declining start-up valuations are indicative of a maturing market that requires adaptability, resilience, and strategic planning. Entrepreneurs, investors, and policymakers are urged to monitor market trends closely and collaborate to foster an ecosystem that encourages innovation, growth, and long-term value creation.

19, Jun 2023
transcosmos launches a Metaverse Fan Community with QON

[Tokyo, Japan, June 19, 2023]

transcosmos inc. is delighted to announce that the company launched MINNA-NO Metaverse Community (Metaverse Community for All) (https://www.beach.jp/community/METAVERSE-TCI) with QON Inc. (Headquarters: Minato-ku, Tokyo; Representative Director & CEO: Takashi Takeda), on June 1, 2023.

transcosmos

1. MINNA-NO Metaverse Community Overview
As the name indicates, a metaverse fan community, MINNA-NO Metaverse Community, welcomes everyone including those who enjoy the metaverse experience every day as well as those who know nothing about the metaverse. You can deepen your understanding of the metaverse while enjoying interaction with community members like talking about a specific theme, reading experiences shared in the community, and more.
URL (no translation available): https://www.beach.jp/community/METAVERSE-TCI

transcosmos

transcosmos

MINNA-NO Metaverse Community opened in KIZUNA-NO Community, or community built on strong Bonds. KIZUNA-NO Community is an online fan community platform launched in January 2020, and is operated by QON. Today, more than 40 companies and local governments and over two million consumers come together on the platform, interacting on various events and activities on the theme of KIZUNA – Bonds. Members can not only enjoy collaborative plans between member companies and organizations, but also events planned based on the voice of consumers gathered through two-way communication for co-creating value.
URL (no translation available): https://www.beach.jp/community/KIZUNA/

2. Reason and Purpose of launching MINNA-NO Metaverse Community
According to the 2022 report by the Ministry of Internal Affairs and Communications, the global metaverse market is expected to reach as much as about 79 trillion yen by 2030 (*1). Accordingly, the metaverse is expected to bring about a drastic change in both our lives and business practices, establishing a new way of communication. In addition, transcosmos market research report published last year showed that one in four consumers said they have used the metaverse. transcosmos believes that metaverse users will continue to increase even more going forward. transcosmos and QON will connect with consumers through the community to grasp consumer trends focusing on the metaverse while monitoring changes in their awareness and attitudes towards the metaverse. Furthermore, the two companies aim to enhance the value of the metaverse experience and increase users, leveraging the voice of consumers and insights gained in the community.

■ QON Inc.QON_logo.jpg
Since its establishment in 1996, QON has been dedicated to managing fan communities for over 250 companies and local governments. Our expertise lies in fostering strong connections between these entities and their target audience, addressing these entities’ challenges, and fostering sustainable growth through the application of data science and leveraging a range of patented technologies. QON stands for Quality of Network. We believe that networks are about quality. There is a prevailing sentiment across the internet worldwide that while an individual alone may feel powerless, when multiple people unite, they can wield considerable influence and effect change on a global level. We, through our services and products, harness the collective power of individuals to contribute to society. By accommodating the wishes and needs of the community participants, companies can become strong partners with their communities. Consumer networks formed in resonance with the corporate stance and values have a high level of engagement and can be a source of enormous economic benefits. We aim to foster connections between companies and their existing or potential user bases, facilitate interactions among users, and forge links between local communities and the broader scope of Japan. We strive to communicate this message to the world and nurture bonds among all people.
URL: https://www.q-o-n.com/en/

17, Jun 2023
Rs. 2000 Note Withdrawal – Not a Housing Deal-breaker
Rs. 2000 Note Withdrawal - Not a Housing Deal-breaker– Akash Pharande, Managing Director – Pharande Spaces
The Reserve Bank of India’s decision to withdraw Rs 2,000 currency notes from circulation has raised questions about its potential impact on the housing sector. Some believe that the move may lead to a rise in land deals and resale housing transactions with cash components, at least in the short term while the shock lasts.
Others argue the impact will be minimal, especially on the primary housing sales market. The biggest doom-sayers remind us of the impact of the government’s demonetization of the then-existing Rs. 500 and Rs. 1000 notes on the real estate market.
DeMo 2016 Vs Rs. 2000 Note Withdrawal 2023
Demo 2016 – No doubt, the 2016 demonetization led to a not-so-short-term decline in property transactions and a slowdown in the housing sector. The Indian real estate market had almost traditionally involved a significant amount of cash transactions, invariably involving unaccounted and hoarded high-value currency notes. With the withdrawal of these notes, there was a cash shortage in the market, leading to a decrease in property sales and a drop in prices.
The liquidity crunch also affected real estate developers who relied on cash transactions for land acquisitions and construction. The sudden withdrawal of the then very prevalent Rs. 1000 and Rs. 500 notes disrupted their cash flow, leading to delays in project completions and financial stress.
Demonetization also psychologically impacted homebuyers and housing investors, causing them to adopt a wait-and-watch approach. Uncertainty prevailed in the market, as people needed clarification about the long-term effects of the policy. This cautious sentiment further contributed to a slowdown in the real estate sector.
Also, the impact of demonetization on the real estate market was hardly uniform across the country. The effects were more pronounced in markets where cash transactions were more prevalent, such as in smaller cities and rural areas. In the bigger, more organized real estate markets where a high proportion of property transactions were already happening via official banking channels, the effect of DeMo was much less.
2023 – This year, the RBI has decided to withdraw Rs 2,000 notes from circulation. First, this withdrawal is not a cataclysmic event but a gradual process. It is not a ban. These notes have not been demonetized and will continue to be legal tender. The RBI has asked citizens to deposit or exchange these notes by September 30, 2023.
This is obviously not comparable to the 2016 event, which was abrupt and had almost no buffer period. Also, many things have changed in the Indian real estate sector since the highly disruptive demonetization. The cash component in housing transactions has reduced massively.
Impact of Similar Moves in Other Countries
It can’t be denied that the sudden withdrawal or demonetization of currency notes had undoubtedly negatively impacted the real estate markets of other countries. In 2016, Venezuela demonetized its 100 bolivar note, which accounted for around 77% of the country’s cash in circulation. This created chaos and adversely affected the country’s real estate market, as property transactions stalled, prices declined, and liquidity tightened.
In 2019, Zimbabwe banned using foreign currencies and reintroduced its national currency, the Zimbabwean dollar. As a result, the country experienced hyperinflation and economic challenges, and the withdrawal of foreign currencies affected its real estate market. Property values declined, and transactions plummeted.
Long before that, in 1987, the Burmese government demonetized the 25, 35, and 75 kyat notes. Again, this move aimed to tackle inflation and corruption but also led to a decline in property prices, transactions, and overall investment in the sector.
However, it makes little sense to use such yardsticks; the impact of demonetization or withdrawal of currency notes in one country cannot be gauged by what happened in other countries. Each country has its specific circumstances and market conditions. No doubt, the markets were thrown into chaos wherever there was a high reliance on cash transactions in real estate.
But even though the Indian real estate market took a hit in 2016, it has changed hugely since then.
A survey by LocalCircles indicates that cash transactions in Indian real estate have reduced since demonetization and continue to reduce. In the 2021 survey, 70% of respondents admitted to cash as part of the transaction for property acquired in the previous 7 years.
However, a more recent survey showed that 44% of respondents who bought a property in the last 7 years said cash was part of the transaction. The percentage of respondents who admitted to having paid over half of the amount in cash dropped from 16% in 2021 to 8% in the new survey.

This indicates that the Indian housing sector has transformed hugely since 2016. It is not just that RERA requires complete transparency and accountability – buyers and sellers have consciously moved away from cash components.

There may continue to be instances in tier 3 cities where amateur builders sell flats to buyers outside the purview of RERA, with cash components of varying magnitudes. Still, the influence of and awareness about the revolutionary RERA Act is spreading rapidly.

Most Indian homebuyers are end-users who want their purchases to be well-documented and legally above board. On their part, with the possible exception of minor bit players with small one-off projects in tier 3 and peri-urban areas, developers will not risk engaging in business practices that impact their business reputation and sustainability.
Therefore, the graded Rs. 2000 note withdrawal will not hit the first sales market involving developers and homebuyers. However, the resale market may take a slight hit because cash components continue to happen there. Whatever impact is seen will not extend beyond the end of 2023.