Daybreak

A podcast delving into recent layoffs at Byju's, revealing employees were let go without notice, facing challenges finding new jobs due to tarnished reputation. Also explores the fallout of layoffs, including increased workloads and stress for remaining employees, shedding light on the turbulent situation at the edtech giant.

Tune in to explore how BigBasket transitioned to compete with quick-commerce giants, adjusted pricing strategies, and emphasized the value of deals to stay ahead in the online grocery segment.

The government of India launched Digiyatra, a contactless, facial-recognition-based passenger-entry system, in December 2023. The idea was for those who sign up on the platform to avoid the tedious process of getting their ID and flight tickets checked by  CISF personnel at airports.But lately, stories of passengers being forced to sign up for the app are surfacing on social media. Just this week, there were reports of Digiyatra forcing users to move to a new app without notice. Meanwhile, airlines, which are important stakeholders to make the entire endeavour successful are unable to see any benefits for themselves. Airports though see it as a great opportunity. In fact, multiple sources close to the implementation of Digiyatra told The Ken that the whole idea of Digiyatra came from airports themselves.What’s in it for them?Tune in.

E-commerce companies like Myntra and Ajio are changing their return policies due to the costly nature of reverse logistics. Some are even blocking customer accounts. The podcast explores how free returns impact online shoppers and the challenges faced by companies in managing returns.

Exploration of PharmEasy's downfall from being the highest-valued Indian healthcare startup to a 90% drop in valuation. Discussion on the debt challenges, impact of financial decisions, and loss of control to investors. Comparison with other startups facing financial struggles and the dichotomy of startup strategies in the Indian ecosystem.

Beyond the nostalgia associated with meals on trains, quite often, there are also horror stories. In fact, even a recent Parliament Panel report pointed out how food quality on Indian trains is compromised. The IRCTC (The Indian Railways Catering and Tourism Corporation) has been trying to figure out how to make food a more enjoyable experience on trains and more importantly, a solid source of revenue. A decade ago, IRCTC launched its e-catering services. It now has a network of nearly 500 restaurant partners and close to 20 food aggregators. Catering makes up for more than 40% of IRCTC’s revenue every year. And its seems it will only go up because in the last few months, IRCTC has also tied up with two of the country’s food delivery giants, Zomato and Swiggy.But while IRCTC has big dreams of catering to the 20 million passengers who take the train everyday, delivering food on trains is a logistical nightmare.Tune in.Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories

Exploring how UPI will disrupt the credit card ecosystem by offering cost-effective solutions to banks, potentially challenging Visa and MasterCard. Introduction to RBI's push for pre-approved credit lines through UPI and the impact on traditional credit card reward models. Discussion on how credit via UPI could reshape the credit market, with insights from a FinTech startup on revenue models and enhanced rewards.

More than 70% of fraudulent banking transfers in India are KYC-linked scams. A senior official at the Financial Intelligence Unit, a national agency responsible for analysing data on suspect financial transactions informed The Ken that KYC frauds amount to over Rs 900 crore ($108 million) per year.One such fraudster who spoke to us on the condition of anonymity said, ““KYC is an easy trick to pull off. People have heard about banks freezing accounts due to non-compliance with KYC norms. So they get convinced, particularly those in smaller towns and cities.” In a span four years, this fraudster’s gang has stolen nearly Rs 50 lakh.But the whole point of banks carrying out the elaborate KYC process is to protect their customers from fraud. How is then that this very process accounts for nearly two-thirds of fraudulent banking transfers in India?Tune in.

Exploring the link between loans and mental health crisis in India, as household debt rises. Harassment by recovery agents leading to mental health issues, prompting professionals to study banking. Debunking the correlation between debt and mental health, with a focus on aggressive recovery tactics.

Swiggy has always been proud of the culture of innovation that it has fostered over the years for its employees. In fact, it is this very approach that helped it achieve the coveted unicorn status.But with the IPO scheduled for this year and its pursuit to profitability, innovation is no longer being encouraged. It has become way more challenging for newer projects to take off. And though it is natural for a company that is growing bigger to become more risk-averse, for Swiggy, this means a cultural shift that could change its very nature.Tune in.