The chapter studies and attempts to understand the idea of crowdfunding and the possibility of it being adopted and adapted within the urban Indian framework. It explores the potential of crowdfunding – the civic variety, which can supplement a small but meaningful percentage of financial resources required to provide urban services in Indian cities. The objective of using the crowdfunding platform is to create sustainable and livable cities. While the delivery of basic urban services is the responsibility of the urban local bodies, it is observed that the available financial resources at their disposal poses an impediment in service delivery. With the process of urbanization gaining momentum, India will require billions of dollars to build the much-needed urban infrastructure and provide basic urban services. It is envisaged that civic crowdfunding, which addresses the varied requirements of urban citizens, may be the appropriate solution to the problem.
Urbanization in the South Asia Region (SAR) stood at 34% (2014) and is relatively sluggish when compared to that of the World at 54%. The World Urbanization Prospects (2014) and World Bank Report (2016) reveals that the future urbanization globally will be concentrated in Asia and predominantly in the select countries of SAR - Bangladesh, India and Pakistan. The chapter analyses the demographic and socio-economic characteristics of the select countries, which are indicative of the quality of life of citizens, benchmarking it with that of Asia and the world. The analysis reveals the slow, messy and hidden nature of urbanization in the region which is required to be addressed. The conclusions recommend large investment and policy imperatives which should bring about sustainable urbanization ensuring basic urban services resulting in improved demographics, Human Development Indices and other socio-economic characteristics of the people in the region.
Digital business has marked an era of transformation, but also an unprecedented growth of cyber threats. While digital explosion witnessed by the banking sector since the COVID-19 pandemic has been significant, the level and frequency of cybercrimes have gone up as well. Cybercrime officials attribute it to remote working—people using home computers or laptops with vulnerable online security than office systems; malicious actors relentlessly developing their tactics to find new ways to break into enterprise networks and grasping defence evasion; persons unemployed during the pandemic getting into hacking; cloud and data corruption; digital fatigue causing negligence; etc. This study adopts a case-based approach to explore the importance of business ethics, information sharing and transparency to build an information-driven society by scouting the case of Punjab and Maharashtra Co-operative (PMC) Bank, India. PMC defaulted on payments to its depositors and was placed under Reserve Bank of India’s directions due to financial irregularities and a massive fraud perpetrated by bank officials by orchestrating the bank’s IT systems. The crisis worsened when panic-stricken investors advanced their narrative through fake news peddled via social media channels, resulting in alarm that caused deaths of numerous depositors. It exposed several loopholes in information management in India’s deposit insurance system and steered the policy makers to restructure the same, thus driving the country consistent with its emerging market peers. The study further identifies best practices for aligning employees towards ethical behaviour in a virtual workplace and the pedagogical approaches for information management in the new normal.
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