In this week’s wrapup, we talk about China’s Big 4 problem, Karnataka’s gig workers Bill, the Bihar government’s MSP demand for makhana, SEBI’s ₹25 lakhs fine on Monetary Solutions and if reserving jobs for locals makes sense.

Here’s a recap.

The Big 4 problem in China

The Chinese government is tightening the reins on auditing firms like Deloitte, PwC, EY and KPMG. It seems like these firms aren’t really catching financial misdeeds. And firms like PwC are now facing big fines for missing such red flags. But why is China going after the Big 4?

Find out in Monday’s newsletter here.

Can a Bill empower Karnataka's gig workers?

In 2020, India had 77 lakh gig workers. And these numbers are only going to rise by a whopping 200% by 2030. This means that gig workers will make up close to 7% of the country’s non-agricultural workforce. Despite that, these folks remain at the mercy of delivery platforms and their powerful algorithms, with no safety nets or government protection.

But state governments want to change that. Karnataka, like Rajasthan, is proposing a Bill to support gig workers’ rights. And with measures like formal contracts and a welfare fund, it seems promising. But can it truly protect gig workers?

We wrote about it in Tuesday’s newsletter here.

Makhana wants an MSP

Makhana, the humble crop from Bihar’s Mithila region, has skyrocketed in value since receiving a GI tag in 2022. This superfood trend has transformed Bihar’s makhana industry into a ₹3,000 crore market. Despite this, local farmers struggle due to low yields and unorganised markets.

And the Bihar government is pushing for a Minimum Support Price (MSP) to protect these farmers from fluctuating prices and exploitation. But is MSP the real solution to the makhana farmers’ crisis?

Read our Wednesday’s newsletter to find out.

How to get fined by SEBI if you're an Investment Adviser

Navigating the investment world can be tricky, especially when you trust a SEBI-registered adviser only to find that they’re under investigation. That’s exactly what happened with Monetary Solutions in September 2022. SEBI’s probe revealed serious lapses. And the firm’s blatant rule-breaking led to a hefty ₹25 lakh fine.

So what went wrong?

Dive into our Thursday’s newsletter to see how regulatory breaches can shake up the financial advising world and what it means for investors like us.

Does reserving jobs for locals make sense?

Karnataka’s new job reservation Bill proposing that at least half of all private sector jobs be reserved for locals, has created a buzz this week. While aiming to boost local employment, this Bill raises significant legal and economic concerns.

How will it affect Karnataka’s job market and economy?

Head over to our Friday’s newsletter where we dive into the controversy and see if this law could be more trouble than it’s worth.

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 27, 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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