TAFE Corporate Communications

Read | Perspective

Beginner’s guide to cryptocurrency and 5 things to know before investing in them

The first act of “purchasing” between humans dates back hundreds of years to what historians refer to as the barter system. One person exchanges a good to obtain something of significant value from a second person; this was how transactions happened in the early days. There was no concept of currency and the barter system reigned supreme. The history of bartering dates back to 6000 BC. Introduced by Mesopotamian tribes, bartering was adopted by the Phoenicians. The Phoenicians bartered goods to those located in various other cities across oceans.

Years passed and humanity grew more complex with each passing day. And with the emergence of complexity and majorly diversified needs, the concept of currency was born. And the rest, as they say, is history.

From coins made of gold and silver, all the way to crisp green banknotes, humanity has come a long way since the curtains closed on the barter system. So much so that there is a new type of currency now, a kind which you cannot even hold!

Unless you were living under a moss-covered boulder, cryptocurrency is a term that would have made its way to you, even if you didn’t go looking for it. What is it exactly? It may sound complicated but isn’t when broken down. Cryptocurrencies are digital assets— that can be used as investments and for online purchases. It is secured by cryptography and with the help of the blockchain infrastructure, it’s nearly impossible to counterfeit or double-spend. Furthermore, each coin of cryptocurrency consists of a unique line of program or code. This means that it can’t be copied, which makes them easy to track and identify as they’re traded.

As mentioned before, cryptocurrency doesn’t exist and is not something you can keep in your wallet and hope to spend. Well, not in your physical wallet at least. Yes, there are e-wallets now too. And soon, we will all be in the Metaverse, but that’s a topic for another day! Coming back to the intangible currency, certain aspects of the currency are extremely important to know and comprehend. Firstly, they are not backed by a central authority such as a government. Instead, they run across a chain of computers. It is exchanged from peer-to-peer on the web without a middleman. Furthermore, cryptocurrency is a decentralized form of currency, meaning no government or bank manages how they’re made, what their value is, or how they will be exchanged. All crypto transactions are secured by cryptography which only allows the sender and intended recipient of a message to view its contents and take further actions. These cryptocurrencies can be stored in a digital wallet, which would enable its user to access them anywhere and at any time. The wallet can be accessed by a private key found with the user, which is essentially the crypto equivalent of a super-secure password— without which the crypto owner cannot access the currency. Also, cryptos are stored on the blockchain,  and the private key is required to authorize transfers of those coins to another person’s wallet.

There is a myriad of cryptocurrencies on the planet such as the more popular Bitcoin,  Litecoin, Polkadot, Chainlink, Mooncoin, Shiba Inu, Dogecoin, etc.  Currently, more than 6,000 coins exist, as per CoinMarket.

When it comes to purchasing crypto coins, it is similar to the stock market with the existence of exchanges and brokers who act as facilitators. These exchanges often charge a fee or commission for each transaction. There is a multitude of exchanges out there, with each different from the other, and offer their discounts, awards, and even signing on bonuses to attract more and more crypto coin buyers. Some of the top crypto exchanges in India are — WazirX, CoinDCX, Coinswitch Kuber, and Unocoin—users have to sign up with their KYC credentials, download the app, and buy cryptocurrency. These exchanges also help you to monitor the value of cryptocurrency and buy or sell it.

With all the basic information out of the way, let us focus on the main factors to be considered before actually investing in cryptocurrencies:

  1. Do THOROUGH research before buying cryptos

Just as is with any kind of investment, buying cryptos comes with its caveat. And with the upsides, some pitfalls accompany them. One must be fully aware of what they are getting into, before investing.  Don’t go off what the social media “experts” say.  This is true for pretty much everything on the internet but is especially important when it comes to cryptocurrency since it lives solely in the digital space and millions share their opinions on the same daily. Consider all this as just noise and focus on what exactly you want to do with cryptocurrencies.

  1. Cryptos are risky

The thought of getting rich quickly with cryptos is enticing, to say the least, but this market is extremely, EXTREMELY volatile and there is the ever-present danger of losing all your money overnight. Non-professional investors should only invest an amount they’re willing to lose.

  1. Cryptos may fail

Just as in any market out there, cryptos are also susceptible to unforeseen failure. Given the dynamic nature of it, the chance of failure is almost skewed towards failure. With thousands of entrants in the market, and new offerings emerging, not all will last. It is always wise to invest in the more popular form of cryptos such as Bitcoin since they are relatively more stable and profitable compared to overnight sensations. A good example of crypto crashing overnight is when Elon Musk Tweeted that he does not own any amount of the SHIB cryptocurrency. The same, which had overtaken DOGE coin previously, crashed seemingly minutes after his Tweet went live and witnessed a 20% retracement in just two hours after Tesla chief Elon Musk’s announcement. A simple Tweet is all it took for the crash to happen.

  1. Cryptos may vanish altogether

Now the entire ecosystem of cryptocurrency is largely supported by the blockchain. Now, this is not a physical institution like a bank, holding the resources but is rather an open-sourced software that helps thousands of users forgo the middleman. The blockchain also keeps track of every single crypto transaction that occurs daily. Since cryptocurrencies are virtual and lack a central storehouse, an account balance can be wiped out. For example, a computer crash without a backup could destroy a stash of cryptocurrency. If a user loses the private key to their wallet, the cryptocurrency they own is unrecoverable. Scammers can also hijack someone’s mobile account by impersonating an account holder. Thieves contact the carrier and request that the user’s SIM card be transferred to a new device. This gives scammers access to cryptocurrency accounts. It’s incumbent upon investors to keep track of their private key and use a wallet from a well-established firm. Professionals also suggest backing up your cryptocurrency private keys and using strong passwords.

  1. Cryptocurrencies are slowly but surely gaining traction

Unlike the Indian Rupee in your wallet, cryptocurrencies aren’t backed by a central bank or a government. And this was the case, for the longest time and not just in India. Cryptocurrencies have no tangible fundamental factors with which to help derive an appropriate valuation. Whereas you can look at the earnings history of a publicly trading stock to estimate its worth, or the economic performance of a country about GDP growth to value a currency like a dollar, digital currencies have no direct fundamental ties. This makes valuing cryptocurrencies in a traditional sense especially difficult, proving near impossible at times.

That being said, Governments around the world are slowly beginning to grasp just how important cryptocurrencies could be for the future and are aware of an impending change in the way the world views and uses cryptocurrency. It is no longer a niche digital asset used by those who know it but is now widespread enough to warrant Governments passing bills and setting up laws in its wake. Case in point, India’s Budget 2022 witnessed the official acknowledgment of cryptocurrencies by the Indian Government.  The Government has proposed that a transaction involving any of the cryptocurrencies will be taxed at 30%. The new law further states that no deduction except the cost of acquisition will be allowed and no loss in the transaction will be allowed to be carried forward. One important caveat here is the fact that this amendment will come into effect only from 1st April 2023 and will accordingly apply to the assessment year 2023-2024 and following subsequent years.

In conclusion, although cryptocurrencies are still largely unregulated (and their use as actual currency can be limited), there is a growing sense that a door has been opened to a vast number of new opportunities and technologies. We may be on the verge of a paradigm shift that would seemingly change how humanity transacts in the future.

News | Spotlight

Mallika Srinivasan, CMD – TAFE Appointed as Chairperson of PESB, Government of India

 

TAFE Chairman & MD – Mallika Srinivasan, has been appointed as the Chairperson of the Public Enterprises Selection Board (PESB), Department of Personnel & Training under the Ministry of Personnel, Public Grievances & Pension, Government of India.

PESB is responsible for appointment of top management posts in the Central Public Sector Enterprises (CPSEs). The appointment of Mallika Srinivasan assumes paramount significance as this is the first time that a private sector specialist as well as a women leader has been appointed as the head of the PESB. She, in her capacity as the chief of PESB, will be equal to that of Secretary to the Government of India.

Mallika Srinivasan responded on the appointment saying, “It is an honour to be given this opportunity to serve in national interest. I thank the Honourable Prime Minister and his Government for the confidence reposed in me. The public sector plays a crucial role in every sphere of economic activity and in the strong economic growth of our nation. It is the largest employer in the country. I am privileged to be a part of the team working towards the fulfilment of our national vision of making India the most vibrant economy globally.”

The Appointments Committee of the Cabinet has approved her appointment as the Chairperson of PESB for a period of 3 years from the date of assumption of charge, or until the attainment of the age of 65 years.

News

TAFE adjudged ‘Brand of the Year’ at the 2nd Corporate Communication Awards

TAFE’s sustained efforts in areas of brand building, communications and community outreach initiatives were recognized with the ‘Brand of the Year’ award at the 2nd Edition of the Corporate Communications Awards held in Mumbai on 13th February 2020. TAFE’s Corporate Communications team won the ‘Best in-house Corporate Communications Team of the Year’ award at this event.

The jury comprised of senior communication professionals from various corporates. The organizing team received more than 50 applications under various categories and TAFE secured pole position at this event by bagging 5 awards for its brand building, digital marketing and CSR initiatives.

Awards won by TAFE at the event:

  • Brand of the Year
  • Best In-house Corporate Communication Team of the Year
  • Best Use of Content Marketing in Communication Strategy for Massey Ferguson India – Social Media
  • Best CSR Strategy of the Year
  • Best Influencer / External Communication of the Year

This year’s theme being ‘Bringing value, creating impact, generating authenticity and increase credibility to the brand with the evolving role of a Communications Specialist’, the event witnessed several panel discussions on topics pertaining to communications technology, disruption, crisis communication, content strategy, brand audits and managing influencers.

Chief Communications Officers, Communication Directors, senior corporate communication executives and teams from more than 30 corporates including Vodafone, Bayer, Aditya Birla Group, Mahindra & Mahindra, Bennett Coleman & Co., Biocon, TATA Power, Wadia Group, Bombay Dyeing, CMS Info Systems, Sembcorp Energy, Bajaj Allianz, etc., had participated in this event.

News | CSR

TAFE Farmers’ Day in Khammam, Telangana brings together Farmers and Agri-Experts

Continuing its efforts to engage and empower the farming community, TAFE – Tractors and Farm Equipment Limited recently organized its Farmers’ Day event at Khammam, Telangana. Over 500 farmers from various districts around Khammam participated in this event. Dr. P Jagan Mohan Rao, Associate Director of Research, Regional Agricultural Research Station from Professor Jayashankar Telangana State Agricultural University (PJTSAU) was the Chief Guest for this event.

The farmers were introduced to the best practices in cultivation, right from sowing to post-harvest processing through knowledge-sharing sessions and workshops. These sessions were filled with information specific to the region, besides demonstrating the correct usage of tractors and farm machinery to enhance the efficiency and productivity of the farmers. Progressive farmers from the state were also recognized for their contribution to agriculture. A multi-implement demo and an MF Tech Zone were also setup at the venue, where farmers were educated on the latest technology and developments in the field of agriculture.

One of the key CSR initiatives of TAFE – Farmers’ Day celebrates this special occasion, dedicated to the farming community, providing them a platform to interact with renowned agricultural scientists and experts from leading universities and agri-research institutes. The experience-rich agri-scientists of TAFE’s own adaptive agricultural research centre – JFarm, based at Chennai, Tamil Nadu, and Bhawanimandi, Rajasthan, play a significant role in this event.

Over the past 14 years, TAFE has been engaging with the farming community in various parts of India, including Tamil Nadu, Uttarakhand, Andhra Pradesh, Karnataka, Rajasthan, Bihar, Madhya Pradesh, Gujarat, Uttar Pradesh, Odisha, Haryana and Telangana, through this platform. Farmers’ Day has led to farmers adapting newer cultivation methods resulting in higher yields and productivity. Topics likes best practices in cultivation, irrigation, soil preparation, crop protection, crop management and seed technologies, along with modern farm mechanization practices are covered in the event.

The first Farmers’ Day was conducted in 2006 in Madurai, Tamil Nadu. It is noteworthy to mention that TAFE has been organizing Farmers’ Day for 14 consecutive years and has impacted the lives of thousands of farmers across India.

News

TAFE Chairman appointed to the Global Board of 
U.S.-India Business Council

Mallika Srinivasan, Chairman – Tractors and Farm Equipment Limited (TAFE), has been appointed to the Global Board of the U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC). This appointment takes immediate effect as she joins a prestigious list of CEOs and executives on USIBC’s 35-member board.

On her induction to the board of USIBC, Mallika Srinivasan said: “USIBC has been the premier voice of the industry, forging strong connections between businesses and Governments in India and USA. Fostering strong and inclusive growth in trade and investment relations between both the countries, USIBC has been a key catalyst of positive bilateral engagement and transformative reforms. With TAFE’s demonstrated belief in the benefits of a stronger economic cooperation between American and Indian corporates and our focus on mechanization and agricultural development, I look forward to the opportunity of engaging effectively in USIBC’s initiatives towards a continuously strengthening  eco-system that promotes stronger economic partnership between India and the US.”

Mallika Srinivasan, is additionally on the boards of the AGCO Corporation – USA, TATA Steel Limited and TATA Global Beverages Limited. She is a member of the Executive Board of the Indian School of Business, Hyderabad, the Governing Boards of the Indian Institute of Technology, Chennai, and Bharathidasan Institute of Management, Trichy.

Shekar Ayyar from VMware, Rajan Navani from Jetline Group of Companies and David Taghioff from Library Pictures International have also been appointed to the Global board of USIBC along with
Mallika Srinivasan.

Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council (USIBC) represents top global companies operating across the United States and India. USIBC serves as the premier voice of industry, creating connections between businesses and governments in both countries. The Council works with members to identify, advance and advocate key policy priorities. Through its work, USIBC supports strong and inclusive growth in trade and investment relations between India and the United States.

News | CSR

TAFE signs MoU with PJTSAU to setup J-Farm & Product Training Centre in Telangana

TAFE signed a Memorandum of Understanding with Professor Jayashankar Telangana State Agricultural University (PJTSAU), the only Farm University of Telangana State, to set up an adaptive research & agricultural extension centre and Product Training Centre, similar to “J-Farm” in Tamil Nadu and Rajasthan.

The university will be providing 30 acres of its land on a ‘right-to-use’ basis to setup ‘J-Farm & PTC Telangana’. Through this, TAFE aims to educate farmers on promoting organic farming in line with its focus on sustainable agriculture through an emphasis on soil conservation, use of natural inputs, long-term productivity, increased farm income, health and well-being.

The adaptive research and agricultural extension centre will facilitate the implementation of appropriate agro-technology through active participation and collaboration with farmers. It will also promote specialized agriculture-related education and vocational skills and the growth of employment opportunities in the field of agriculture.

TAFE through its Product Training Centre aims to help educate the farmers on the integrated mechanization model of TAFE that combines the use of tractors and relevant machinery in farming. The farmers will be trained on operation and servicing of tractors, equipment and machinery. It will also promote the adoption of relevant mechanization in agriculture using locally suited equipment especially suited for the terrains of Telangana.

News

Farmers witness MF Tech Zone and Multi-Implement Demo at TAFE Madurai Plant

A group of farmers were invited for an MF Experience at TAFE’s Madurai Plant, recently. During the first half of the day, the farmers were taken on a factory tour where they got to witness the quality process and the end to end manufacturing processes. This was followed by a classroom session, explaining TAFE’s history, legacy, international footprint, and milestones. A free medical checkup camp was organized for the farmers. They also had a photo opportunity with Massey Ferguson tractors.

Following these sessions, the farmers were taken into the MF Tech Zone, a combination of stalls where the latest technology unique to Massey tractors were showcased using demo kits and prototypes. After this session, the farmers witnessed a demonstration of all models of tractors with different implements followed by a Multi-Trolley Demo. The farmers were also given an opportunity to test-drive our products in the field, following which some of the farmers booked the tractors on the spot.

TAFE’s CEO Mr. Sandeep Sinha interacted with the farmers and got to know about their experience visiting our factory. This experience was highly appreciated by the farmers as they got to witness the prowess of the superior range of Massey Ferguson tractors.

News | CSR

Massey ‘Vriksha Roshan’ – Tree Plantation Drive by TAFE’s Team in Rajasthan

Keeping up with TAFE’s inherent commitment towards environment and sustainability, the team from Rajasthan recently started a tree plantation drive called ‘Massey Vriksha Roshan’ across the state. This activity happens every Sunday with a minimum of 5 trees being planted per Tehsil. Post plantation, it is critical for the trees to be maintained as well. Hence, the team has resolved to not just plant, but also nurture them over time.

The team targets to plant over 500 trees across this region. All TAFE dealerships in the area and several customers have also extended their commitment to this cause. The teams from Jaipur and Gangapur districts have already planted 150 trees in their territory.

News | Milestones

TAFE Wins 10 Awards at ACEF Asian Leaders Forum & Awards 2019

As a testament to its brand building, communications and community outreach initiatives, TAFE bagged 10 awards including 6 Gold, 3 Silver and 1 Bronze at the 8th ACEF Asian Leaders Forum & Awards held at Mumbai on September 28, 2019. The event was organized by the Asian Consumer Engagement Forum (ACEF) in association with CNN News 18. TAFE Corporate Communications team secured pole position in terms of total number of awards under the Branding & Marketing, CSR and Rural Marketing categories at this event.

More than 120 corporates had participated in this event and there were more than 300 applications under various categories. The application process was detailed and exhaustive. The jury which evaluated the applications was a mix of leading industry experts, academicians and creative directors which included the likes of Pops KV Sridhar – Chief Creative Officer, Hyper Collective, Sujan Roy – Head International Business, TATA Motors, Dr. Swati Padoshi – Director IIBM and Santhosh Nair – VP Business & Strategy, Grey RC&M.

TAFE has always been committed towards contributing to the community by helping improve the social landscape in an effective and sustainable manner. It has an instilled sense of caring and sharing at the very core of its business ethics. This commitment was duly rewarded at the event where TAFE Corporate received two Grand Prix Gold Awards in the CSR Category including the ‘Overall Excellence in Social Responsibility’ and the ‘Asian Good Company of the Year’.

Awards won by TAFE Corporate Communications for Brand Building:

  • Gold : Most Admired Organization for Social Cause – TAFE Corporate
  • Gold : Asian Good Company of the Year – TAFE Corporate
  • Gold : Overall Excellence in Social Responsibility – TAFE Corporate
  • Gold : Best use of Digital Media – Massey Ferguson India
  • Gold : Best Media Relations / PR Campaign – JFarm Services
  • Bronze : Most Admired Brand of the Year – TAFE ‘Cultivating The world’

Awards won by TAFE for JFarm Services and Farmers’ Day (CSR):

  • Gold : Most Admired Activity for Sustainable Development in Rural Area – JFarm Services
  • Silver : Most Admired Activity for Community Uplifting – JFarm Services
  • Silver : Rural On-Ground New property of the year – JFarm Services
  • Silver : Best CSR Event – Farmers’ Day

Other participating companies included TATA Motors, TATA Power, Mahindra & Mahindra, ITC Limited, Schindler, Gulf Oil, Philips, DHL, Reliance Foundation, Dell India, Sony Entertainment, Sun Pharma, Cipla, Glenmark, Yes Bank, PNB Metlife, Motilal Oswal, DCB Bank, Sony Music, Radio Mirchi, Fab India, Max Life Insurance, ACC Cement, Birla White, FCB Ulka, Grey Advertising, Dentsu Aegis Network and Publicis Media.

Founded in 2012-13, Asian Consumer Engagement Forum and Awards are organized by a team of professionals from India, Sri Lanka and UAE, guided by Advisory Members from leading Branding, Marketing and Creative Agencies based in India, USA, Australia, Singapore, UAE, and Sri Lanka. Their programs are focused on customer engagement and consumer connect activities, branding, marketing, CSR, rural marketing, properties (hospitality and real estate), HR, and are planned for India, Sri Lanka, GCC Continent, and the Asia Pacific Regions.

This event is being telecasted on CNN News 18 on October 12, 2019 at 5:30pm