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Trust, Data, and the Making of a New India

The Weekend Playlist

November 02, 2025 • Estimated Reading Time: 8 minutes

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Good Morning,

From boardrooms to farmlands, India is quietly rewriting the rules of trust. In this week’s Core Report, we unpack how power shifts at Tata Trusts reveal the fault lines of corporate governance, how Account Aggregators are transforming credit through consented data and digital public infrastructure, and how startups like Sow & Reap are using blockchain to bring transparency to carbon markets and regenerative farming. Three stories, one common thread — India’s institutions, lenders, and innovators are redefining what trust means in business, finance, and climate action.

WEEKEND EDITION

Power, Philanthropy & The Tata Paradox

If What happens when India’s most respected business house faces turmoil at its philanthropic heart?

In this weekend’s edition, Govindraj Ethiraj sits down with Hetal Dalal (President, IiAS) and Sriram Subramanian (Founder, InGovern) to unpack the quiet storm brewing inside the Tata Trusts — the entity that controls 66% of Tata Sons, and by extension, the empire behind Tata Steel, Tata Motors, Indian Hotels, and TCS.

🔍 Inside the episode:

  • Why fissures within the Tata Trusts matter far beyond Bombay House.

  • The hidden tensions between Noel Tata’s leadership and the trust’s executive committee.

  • The ghost of Cyrus Mistry’s ouster — and what it says about unresolved power struggles.

  • Should Tata Sons finally go public? And what happens if it doesn’t?

  • The uncomfortable truth: Is India’s most trusted brand risking its reputation over internal politics?

This is not just about capital allocation — it’s about control, ego, and the future of a century-old institution,” says Hetal Dalal

“The entrepreneur is long gone. What remains is diffused control — and that’s where the cracks begin,” adds Sriram Subramanian.

MANTHAN BY SAHAMATI

What’s Really Powering India’s New-Age Loans? (Hint: It’s Not Your Bank)

India’s lending landscape is being rewritten — and at the heart of it lies consented data, digital public infrastructure, and a bold new approach to risk management.

In this episode of Manthan, Vamsi Madhav (CEO, Finvu AA) sits down with Fakhari Sarjan (Chief Risk Officer, Bajaj Finance) to decode how one of India’s most trusted financial institutions is using the Account Aggregator (AA) framework to transform credit, trust, and inclusion.

From real-time financial data to smarter underwriting and lower NPAs, Bajaj Finance’s AA journey offers a front-row view of how data-led lending is redefining financial access across India.

🔍 In this conversation:

  • How India’s digital revolution is reshaping risk and credit

  • Inside Bajaj Finance’s AA journey — early wins, lessons & roadblocks

  • The strategic role of AA in deepening financial inclusion

  • What the next phase of India’s lending ecosystem could look like

Listen now: India’s credit revolution is just beginning.

MESSAGE FROM OUR SPONSOR

Where to Invest $100,000 According to Experts

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Bloomberg asked where experts would personally invest $100,000 for their September edition. One surprising answer? Art.

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  • Contemporary art prices have appreciated 11.2% annually on average

  • …And with one of the lowest correlations to stocks of any major asset class (Masterworks data, 1995-2024).

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Thanks to the world’s premiere art investing platform, now anyone can access works by legends like Banksy, Basquiat, and Picasso—without needing millions. Want in? Shares in new offerings can sell quickly but…

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BUILD ON BLOCKCHAIN

The Digital Soil Revolution: How Blockchain Is Changing Indian Agriculture

Can Blockchain Really Regrow the Planet?

What if blockchain could do more than mint coins — what if it could grow crops and cut carbon?

In this special episode of Build on Blockchain, Govindraj Ethiraj sits down with Suraj Teja, Founder of Sow & Reap, to explore how technology is reshaping regenerative agriculture and carbon markets in India.

Suraj’s startup is building a transparent system for farmers — helping them adopt sustainable practices, measure real climate gains, and issue verifiable carbon credits. The goal? To connect authentic on-ground climate action with businesses and investors who want to back impact that’s real, not just reported.

What you’ll learn:

  • How blockchain ensures trust and traceability in sustainability data

  • The future of carbon credits for India’s smallholder farmers

  • Why agri-tech + impact-tech could power India’s next green revolution

Tune in: Go beyond the crypto noise and see how blockchain is quietly driving real climate change mitigation — one farm, one block at a time

The 2025 Algorand India Summit is coming to Bengaluru on December 6-7. Register today to discover how blockchain technology is helping transform access to finance.

MESSAGE FROM OUR SPONSOR

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Past performance does not guarantee future results. Investing involves risk including possible loss of principal.

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