In this week’s wrapup, we talked about Koo's decision to shut shop, Kenya's fiery tax hike protests, why gold smugglers love India, RBI's worries about microfinance credit growth in UP and Bihar and SEBI's new proposal that might just be a hidden gem for BSE.

Here’s a recap.

A postmortem of Koo

Koo, once touted as India’s answer to Twitter, is shutting down after failed acquisition talks.

Remember the hype when tensions with Twitter were high and Koo promised a local alternative? Despite raising $70 million and hitting 4.5 million users, it wasn't enough. Massive spending on ads didn’t convert to a loyal user base and competing with Twitter’s sticky appeal proved too tough.

So, what went wrong for Koo? Dive into our Monday's newsletter to find out.

Is the IMF responsible for Kenya's tax hike protests?

Kenya's streets recently erupted in chaos as peaceful protests against a new Finance Bill turned violent, tragically claiming hundreds of lives. Courtesy: The government's intention to raise $2.7 billion through hefty tax hikes on essentials like bread and cooking oil. And many blame the IMF for Kenya’s financial woes.

But wait... What does IMF have to do with all this? Find out in our Tuesday's newsletter here.

The glittering allure ― Why gold smugglers like India

Last year, an audacious heist dubbed Project 24 Karat unfolded at Canada’s Pearson International Airport. Thieves, with insider help and forged documents, walked off with 400 kg of gold worth $20 million from the Air Canada Cargo terminal, which authorities only noticed when the gold was reported missing.

Despite multiple arrests, the gold remains elusive, and investigators now believe that some of this stolen gold has likely been smuggled into India. But why India?

Head over to Wednesday's newsletter to find out.

Why is RBI concerned over microfinance credit growth in UP and Bihar?

Microfinance Institutions or MFIs offer small, collateral-free loans to low-income individuals who dream of expanding their small businesses. And this could mean that people with no credit history or properties to offer as security can borrow from formal institutions without being exploited.

While this sounds great, the rapid growth of microfinance in Uttar Pradesh and Bihar has caught the RBI's attention. And it's now advising lenders to slow down approvals in these states.

If you're curious about why the RBI is concerned, read our Thursday's newsletter to get the full scoop.

Could SEBI's new proposal unintentionally favour BSE over NSE?

India’s booming derivatives market has SEBI on edge. Derivatives, like futures and options, let traders bet on price changes or hedge risks. But they’re not all winners. 90% of traders are taking hits, losing about ₹1 lakh each on average. And despite these losses, more folks are still gung-ho about trading.

But now, SEBI’s gearing up for some serious crackdowns to keep things in check. Proposals like bigger lot sizes and limited contracts could curb risky trades and hit stockbrokers' revenues. But guess who might benefit?

BSE!

Curious about how this shake-up might change the game? Read our Friday's newsletter to find out.

Finshots Weekly Quiz 🧩

Here’s your chance to win some exclusive Finshots merch. All you have to do is click on this 👉🏽 link, answer all the questions correctly by 12 noon on July 20, 2024 (Saturday) and tune in to our Sunday newsletter aka Sunny Side Up next week to check if you got lucky.

That's it from us this week. Have a great weekend!

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