Archives September 2023

Zee Media successfully hosted the India eMobility Conclave, emerging as a catalyst for transformative change, setting the stage for a landscape defined by sustainable electric mobility. It primarily focused on boosting awareness on EVs, policy advocacy, technology advancement and sustainable mobility setting a remarkable precedent for fostering sustainable mobility solutions and propelling India toward a cleaner, greener, and electrifying future.

The India eMobility conclave began with a keynote address and an engaging fireside chat with Sh. Nitin Gadkari – Minister of Road Transport and Highways, Govt. of India, shed light on the myriad opportunities presented by India’s EV adoption journey. This conclave served as a dynamic platform engaging esteemed stakeholders from diverse sectors towards insightful discussions and collectively envisioning a future where electric mobility took centre stage. It also included a one-on-one discussion with the Guest of Honour – Sh. Kailash Gahlot – Cabinet Minister (Home, Law, Transport, IT and AR), on ‘Delhi’s tryst with EV adoption’. It also comprised of insightful series of captivating panel discussions that delved into key topics, like:

1. The Rise of E-scooters and E-bikes: This session emphasised on insightful discussion on how electric two-wheelers are transforming urban mobility in India, offering sustainable solutions to congestion and pollution.

2. Electrifying Horizons: Navigating the Road Ahead for Electric Vehicles – Visionaries navigated the road ahead for electric vehicles, delving into market dynamics, consumer adoption, and strategies to overcome challenges.

3. Powering Progress: Battery Innovations in the EV Revolution: It deep-dived into the latest battery technologies and innovations driving the EV revolution, emphasizing the critical role of batteries in shaping the future of transportation.

4. E-Mobility 360: Exploring the Holistic Impacts of Electric Transportation – An exploration of the holistic impacts of electric transportation, considering environmental, social, and economic dimensions.

Attendees gained a comprehensive understanding the pivotal role EVs play in shaping a cleaner and greener future for transportation, providing a roadmap for policymakers to steer the nation toward an electric-powered future.

Speaking on the success of the grand conclave, Mona Jain, Chief Revenue Officer, Zee Media Corporation Limited said, “The India eMobility Conclave has transcended expectations, not only in terms of its success but also in the resonance it has found among stakeholders. This event has not only opened avenues for industry collaboration but has also showcased the immense revenue opportunities that lie within the realm of electric mobility. As we stride forward, we’re poised to unlock new horizons of growth and sustainability.”

Abhay Ojha, CEO, Zee Media Corporation Limited, said, “The India eMobility Conclave stands as a pivotal milestone in our journey towards a sustainable future. The event’s success echoes the collective commitment of Zee Media towards shaping a transportation ecosystem that resonates with the needs of the present while safeguarding the planet for generations to come. By bringing together brilliant minds and fostering crucial conversations, we have ignited a transformation that will reshape the way we move.”

Powered by BGAUSS, the Zee Media India eMobility Conclave was presented by SAERA and SERVOKO, e-mobility partners were Evazon and Arzoo, logistic partner – APML and knowledge partner GL Bajaj. It forged an extraordinary benchmark, pioneering the path for sustainable mobility solutions and propelling India into the realm of a more immaculate, verdant, and electrifying future.

Zee Media Corporation Ltd, one of India’s leading media companies, has a strong presence in the news and regional genres, with 16 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

New Delhi, Sept 1, 2023:

A group of 15 Japanese tourists participated in a yoga session at Morarji Desai National Institute of Yoga (MDNIY). The yoga session was conducted by yoga therapist Ms. Madhu Khurana, and a yoga demonstration was presented by yoga practitioner Ms. Shruti.

MDNIY Director, Mr. Vikram Singh, warmly welcomed the group of tourists. He provided them with information about the various activities and programs offered by the institute. During this visit, the Japanese tourists engaged in a dialogue session with the institute’s Director, Mr. Vikram Singh, who provided participants with the opportunity to gain a deeper understanding of the ancient yoga teachings and traditions. At the end of the program, the guests shared their positive experiences and praised the institute for its pioneering efforts in promoting yoga.

It must be noted that yoga resonates deeply with the Japanese people. Honorable Prime Minister Narendra Modi, in an event held on August 30, 2019, at the Vigyan Bhawan in New Delhi, honored Mr. Kimura of Japan Yoga Niketan with the ‘Prime Minister’s Yoga Award-2019’ in the ‘ International Category ‘ for his outstanding contribution to the promotion and development of yoga in Japan.

In this context, it is well-known that yoga is an ancient tradition in India, dating back thousands of years, which establishes harmony between physical, mental, and spiritual activities for the excellence of the body and mind. On December 11, 2014, the United Nations General Assembly declared June 21 as ‘International Day of Yoga.’ This proclamation was made in response to the dedicated efforts and special appeal of India’s Prime Minister, the Honorable Mr. Narendra Modi.

During the program, Mr. Mudit Sharma, Administrative Officer at MDNIY, and Ms. Manjot Kaur, a dietary specialist at MDNIY, were also present and made valuable contributions to the successful execution of the event.

India, 1st September 2023 – Hilti India Private Limited is proud to announce that it has been ranked 16th among India’s great mid-size workplaces by the Great Place to Work ® Institute. This esteemed recognition highlights Hilti’s commitment to building a healthy work environment that places immense emphasis on employee well-being and growth.

Awarded to employers with an outstanding employee experience, the coveted ‘Great Mid-SizeWorkplaces’ list by GPTW® Institute is compiled after a rigorous evaluation of organizational culture, engagement, and people practices. For Hilti India, being certified for the 6th consecutive year by GPTW is a remarkable achievement, as it secures the 16th rank among the great mid-size organizations in India. The recognition given to Hilti India is a testament to its commitment to employee satisfaction and happiness.

Since its inception, Hilti India has empowered its team members with the freedom to chart their own career development paths. Its culture is driven by a people-development philosophy called MOMENT, which emphasizes frequent discussions, strength-based conversations, and ownership by team members of their professional growth.

Hilti India believes in providing an inclusive environment for everyone, regardless of gender, age, nationality, or educational background. Beyond leadership commitment, they enable employees to become ‘Inclusion Champions’ through initiatives like OwnIT, Diversity Dialogues, and Coffee Connects. Recognizing the importance of achieving gender balance, Hilti India leads the construction industry in breaking barriers and providing opportunities to women, especially in leadership roles.

Even with rapid growth, Hilti India has remained a close-knit organization, known for its warmth and camaraderie, providing multiple platforms for employees to connect and engage. Their unique performance-with-care philosophy actively encourages employees to plan their vacations and utilize their leaves to rejuvenate and strike a work-life balance. The Hilti 360 program brings a holistic approach to well-being, focusing not only on physical wellness but also on mental, financial, and social aspects, helping Hiltians find the right balance.

With market-leading benefits, including best-in-class insurance, 9 months of maternity leave, creche allowance, and a long-term commitment to flexibility, they ensure that employees can continue to pursue their aspirations at all stages of life.

What binds everyone together is the culture – ‘The Hilti Way’, which is kept alive and breathed by their ‘Sherpas’ – tenured Hiltians who act as culture ambassadors. These Sherpas induct, coach, and train leaders and team members in The Hilti Way, periodically organizing team camps that allow them to continuously reflect on and reinforce their core values of integrity, courage, teamwork, and commitment.

Speaking about this achievement, Devika Tandon, Director-HR of Hilti India, said, “This is a great honor for us. Our employees are at the core of everything we do, and we constantly strive to create a flourishing environment for them where they can not only contribute to the company to the best of their abilities but also grow into the best versions of themselves. We have worked hard to create
a diverse and inclusive workplace, and we strongly believe that every voice needs to be heard to achieve overall growth. This recognition will further encourage us to pursue innovation while
keeping our workforce at the center of it all.

1st September 2023 Pune: Loop, India’s first Health Assurance company, has achieved remarkable growth over the course of the last 12 months. In this duration, the company has registered an increment of 200% in premium bookings, powered by their unique model of offering preventive healthcare services with group health insurance. The company crossed the 1,000 customer mark and supports 500,000 employees and families who use the health assurance model to stay healthy and experience a technology-enabled insurance claim experience in the event of sickness. Headquartered in Pune, and backed by visionary investors like Vinod Khosla, General Catalyst, Elevation Capital and YCombinaAmrit Singhtor, Loop introduced Health Assurance in 2018 and has scaled operations across India to 400+ employees, with offices in Pune, Mumbai, Bengaluru, Delhi NCR, and Hyderabad.

A concept that is new but being rapidly adopted by Indian companies, Health Assurance combines health data, technology and preventive care to keep people healthy i.e. achieve complete physical, mental and social well-being, as a primary objective, while making sure that they get accessible, affordable and empathetic sick care as and when they need it. Loop’s Health Assurance model has powered preventive healthcare in the last 12 months in the form of 100,000 medical chats, 30,000 doctor consults and 14,000 lab tests. 25,000 corporate employees have attended their preventive healthcare-focused wellness sessions.

Health Assurance is a necessity in the modern healthcare scenario, especially because of the Indian healthcare system’s disproportionate focus on sick care. This is mirrored by the health insurance industry’s focus on only paying for sick care. Neither system is incentivized to keep people healthy. This is compounded by Corporate India’s narrow definition of health benefits as only providing insurance coverage. As a result, India has a growing disease burden with 101 million diabetics, 315 million hypertensives, and 254 million obese (src ICMR). There is also a growing mental health burden. The impact of this disease burden is reflected in the workplace in the form of rising absenteeism and lowered productivity.

“At Loop, we believe that true healthcare goes beyond reactive measures. Our Health Assurance model is a commitment to proactive well-being, a pledge to keep employees healthy, and a promise to stand by them throughout their health journey. Health Assurance is more than just insurance. With insurance, you pay a premium in case you need critical medical care. With Health Assurance, you pay a premium for the assurance of good health and to have support along your entire care journey through preventive care, wellness programs, and chronic disease management. Imagine if your cardiologist had access to the live heart rate data on your wearable. Or what if your nutritionist checked in on you every week proactively? And what if you could get lab tests every year for free through your insurance plan? All this is possible, with the correct alignment of incentives, data, and care protocols.”, said Amrit Singh, Co-Founder and Chief Revenue Officer, Loop.

1st September 2023: ONEST has registered the first set of network transactions, with many leaders across NASSCOM, ONDC, UNDP, bureaucrats, and several social and private sector organizations pledging their support to supercharge the education & skilling journey for various causes. Several organizations are joining the network to innovate around various use cases it enables.

At the mega event of EkStep about creating the People + Advantage hosted in New Delhi, key opinion leaders, subject matter experts, and bureaucrats discussed the various opportunities that open networks like ONEST provide and how public-private partnerships will enable India to reach its target of a $5 trillion economy by 2024.

ONEST (Open Network for Education & Skilling Transactions) is a network of opportunities that can bring together the power of thousands of platforms to enable lifelong learning & livelihoods. India is at the cusp of technological innovation by empowering billions of lives with Digital Public Infrastructure (DPI) and its entrepreneurship ecosystem. Be it the speed at which we are processing financial transactions using the Unified Payments Interface (UPI) or securely storing private health records, consumers in India are leveraging the power of Digital Public Infrastructure every day. DPI is ubiquitous in India, and open networks like ONEST can be the UPI of education & skilling.

With the objective of showcasing inclusive, innovative solutions, the event presented a variety of opportunities & experiences for addressing diverse global needs. The underlying philosophy of EkStep is that technology should serve billions of people, technology is for the world, and technology should usher in diversity. The event brought together all stakeholders – Sarkaar (the government), Samaaj (civil society), and the Bazaar (the business community) to highlight the transformative potential of the DPIs and open networks like ONEST. Speakers, dignitaries, and participants alike discussed how DPIs can provide solutions to every problem or situation.

Speaking at the event, Mr. Adil Zainulbhai, Chairman, of Network 18 Group, said, “India is one of the largest digital economies and has the capability to do things that have never been done before at scale. We can solve problems on a massive scale because of our population. One of the problems the industry faces is connecting non-regular, skilled labour to organisations that need them at scale. With the power of open networks, the right infrastructure and quality talent, I am confident we will find solutions to such challenges soon.”

Ms. Anjali Bansal, Member, Niti Ayog Evolution Review Committee, said, “India has seen how entrepreneurship has transformed our country. We are not just about valuation and value creation. Technology and innovation are at the core of our economic and social growth. We are now setting standards for the globe, be it the UPI, India Stack, or open network. We are championing frugal innovation, and Chandrayan 3 is the best example. It took the longer route but the more frugal route. We need to continue creating open-access systems that promote entrepreneurship. This will lead to the emergence of new business models and value creation at system levels.”

Debjani Ghosh, President NASSCOM said, “Like the entire nation took vaccine during Covid, we need to vaccinate everyone with AI to create the Generation AI that will leverage our demographics & fulfill India’s potential. The world should not just think about AI. It needs to think about AI India.”

Mr. Nandan Nilekani, Co-founder and Chairperson, EkStep, said, “Artificial Intelligence, open networks and continuous learning have the potential to transform India. Earlier data was a by-product, but today, it is the digital capital for both businesses and individuals. We need to combine the power of digital capital with human capital to create the people + advantage. A young India has tremendous potential, and open networks like ONEST will be pivotal to realise that potential”.

New Delhi | 1st September 2023: News18 India’s Managing Editor Kishore Ajwani conducted an exclusive interview with Hardeep Singh Puri, Union Minister of Petroleum & Natural Gas and Housing and Urban Affairs. The interview centered around the government’s decision to reduce the price of Liquefied Petroleum Gas (LPG) cylinders for domestic use by Rs 200 per cylinder, as announced by Union Minister Anurag Thakur. This reduction amounts to an 18 per cent decrease in the cost of a 14.2-kg cooking gas cylinder. The interview unveiled significant insights into the context, rationale, and implications of this decision.

Union Minister Hardeep Singh Puri began by addressing questions about the timing of Prime Minister Modi’s decision to lower LPG prices. He asserted that the opposition’s concerns regarding the timing need not overshadow the significance of the decision itself. Stressing the democratic nature of the government, the minister underscored that the decision was taken in honour of the upcoming Rakshabandhan festival, symbolizing the government’s commitment to the welfare of India’s sisters.

Highlighting the transformative journey of access to LPG, Mr Puri illuminated the evolution from a time when 45% of India’s population lacked LPG access before 2014. This stark reality has evolved into a commendable achievement, with the total number of LPG connections growing from 14 crore to 32 crore in 2023, he added. The ‘Ujwala Yojana’ scheme stands out as a cornerstone of this achievement, benefiting 9 crore 60 lakh beneficiaries who receive a direct 200 rupee subsidy. Minister Puri further revealed that even those not covered by the scheme would now enjoy a reduced cylinder price of 900 rupees from the earlier 1100 rupees, while Ujwala Yojana beneficiaries would be entitled to LPG cylinders at an astonishingly affordable 700 rupees. Future plans to expand the Ujjwala Yojana by approximately 75 lakh connections underscore the government’s resolute mission to ensure universal LPG access.

When queried about the potential reduction of petrol and diesel prices, the Union Minister responded with an emphasis on fair comparisons. He raised questions concerning non-BJP states’ reluctance to reduce VAT in response to the central government’s reduction of central cess. The minister detailed a pattern of global petrol and diesel price increases, contrasting it with India’s remarkable feat of reducing petrol prices by 5% and diesel prices by 0.28% over the past two years.

He then engaged in a state-by-state analysis, drawing attention to the difference in petrol and diesel prices between BJP and non-BJP states. The significant variance in VAT rates painted a compelling picture, with petrol prices differing by up to 11.85 rupees and diesel prices by 10.67 rupees.

Expanding the horizon, he embarked on an international comparison spanning neighbouring countries. He referred to the data showcasing India’s praiseworthy position of reducing petrol prices by 5% while its neighbours experienced notable increases, ranging from 24.91% to 50.56%. Even on the global stage, the USA encountered a substantial 43.33% rise in petrol prices, in stark contrast to India’s reduction. Similarly, Germany and France, as major G20 countries, witnessed price increases of 18.56% and 22.56% respectively.

The discourse extended to diesel prices, revealing India’s 0.28% reduction against Sri Lanka’s 87.25% surge and the USA’s 36.70% increase. Mr. Puri also highlighted the government’s visionary steps in reducing LPG cylinder prices, benefitting each citizen by 200 rupees and Ujjwala Yojana beneficiaries by 400 rupees, a testament to Prime Minister Modi’s commitment to the welfare of the people.

Addressing concerns about election-driven motives, he firmly articulated that elections are inherent to India’s democratic fabric and are independent of policy decisions. The LPG price reduction, a gesture of benevolence to women, aligned with the broader initiatives of women’s empowerment, extended maternity leave, and the abolition of triple talaq.

The Union Minister also delved into the challenges posed by “Oil bonds,” underscoring the consequences of past financial decisions and the government’s resolute approach under Prime Minister Modi’s leadership.

The interview explored other dimensions of governance, including urban pollution and upcoming events. Mr. Puri’s insights provided a comprehensive understanding of the government’s vision, its accomplishments, and the commitment to India’s progress.

Bangalore, 1st September 2023: ICICI Prudential Life Insurance has launched an innovative income plan, ICICI Pru GIFT Pro, which provides customers the option to receive either a year-on-year increasing income or a constant regular income. In addition, the life cover component of this non-participating savings product ensures the family has financial security.

ICICI Pru GIFT Pro allows customers to customize the product to their unique needs by providing a choice of income benefits and premium payment terms, among other flexibilities.

Along with assured long-term income, ICICI Pru GIFT Pro offers customers the option to receive a lump sum benefit. Customers have the flexibility to choose any amount up to 100% of the premiums paid as a lump sum benefit and also select the timing of receiving the benefit. With this feature, customers can plan for life’s most cherished milestones, such as owning a house, leaving a lasting legacy for loved ones, or building a substantial retirement corpus.

This feature-rich product also ensures the nominee will continue to receive the income in case of the demise of the policyholder during the income period. ICICI Pru GIFT Pro effectively provides customers with the flexibility to meet both short and long-term income needs.

ICICI Pru GIFT Pro provides a range of premium payment terms from 5 to 12 years, letting customers save as per their convenience and goal timeline. Also from the 8th year onwards, they can start receiving income for as long as 30 years.

Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance said, “We are excited to introduce ICICI Pru GIFT Pro, a long-term savings product with built-in flexibilities that will allow customers to adjust the product to suit their unique needs, thereby enabling them to better prepare for and achieve life goals. Besides the life cover component in the product provides financial security to the family.

ICICI Pru GIFT Pro has been designed to empower customers to receive income as per their financial needs. Significantly, the product will also enable customers to decide the time and quantum of lump sum funds they want, to ensure the fruition of their financial goals.

ICICI Prudential Life has institutionalized a 4D framework with customers at the core, offering ‘diversified product propositions’ as one of the pillars. Besides regularly engaging with our customers to understand their needs, one of the ongoing initiatives is to reimagine life insurance products well beyond the traditional constraints.

Today the customer is exposed to a wide array of products and services that offer the promise of hyper-customisation. Even in financial services, the customer is seeking the assurance that the financial product they are trusting will be tailor-made to their specific requirements and not just be a one-size-fits-all plan.

The other important point we picked up in our engagement with customers was the need to have benefits that could provide some cushion to inflation. This is why, in ICICI Pru Gift Pro, we are providing customers with a choice to either receive increasing income every year or constant income, both for a period of up to 30 years.

This feature-packed product provides customers with a comprehensive long-term financial savings solution. We believe it offers a perfect blend of financial protection and income with maximum flexibility to tailor the plan to suit one’s needs.”

1st September 2023 Albert Einstein once said, “Look deep into nature, and then you will understand everything better.” When we are amidst nature, we grow. There is much to learn from local people and customs about the preservation of nature, our heritage and culture, and therefore, life. It reinstates that living good does not come at the cost of doing good – rather, these two tenets of life can co-exist beautifully together.

Signature Packaged Drinking Water believes in this philosophy wholeheartedly, and is therefore, proud to be the presenting sponsor of Ziro Festival, which in its 10th year, continues to manifest the spirit of living good and doing good. Set in the Ziro Valley of Arunachal Pradesh, the 4-day music festival is the nation’s most eco-friendly festival that offers enriching and engaging experiences for all nature lovers and music enthusiasts alike. Here the revelers will enjoy their days and nights with soulful music echoing the verdant green valleys, experience farm-to-table local cuisines, and partake in locally inspired beverage experiences. The festival will also give the attendees a chance to learn the sustainable way of living from the local Apatani tribe who master the art of recycling and repurposing.

The festival is scheduled to take place between 28th September and 1st October 2023 this year.

As partners, Signature Packaged Drinking Water & Ziro Festival share a mutual commitment in fostering a greener planet and enabling meaningful connections with nature. Hand in hand, both Ziro Festival of Music and Signature Packaged Drinking Water aim to promote conscious living through insightful masterclasses, raise awareness about environmental conservation with plogging through the four days, and encourage individuals to be One with Nature by living in the campsites setup in the valley exclusively by Signature Packaged Drinking Water. These campsites will endeavor to leave zero waste behind and give back the land as pristine as they were found.

The fest will feature an electrifying lineup of artists like Lee Ranaldo, Leon Somov, Farhan, Taba Chake, Mohit Chauhan, Kiss Nuka, Pt Vishwa Mohan Bhatt, Guy Buttery, Komorebi, MC Altaf, among others. This year, the festival has also announced a third stage – Takvr, dedicated to electronic music. Apart from these, the Popi Sarmiñ Creative Space will also host a variety of community engagement initiatives and workshops.

Ruchira Jaitly, Executive Vice President and Portfolio Head, Marketing, Diageo India, said “Signature Packaged Drinking Water stands for doing things consciously that each of us can follow in our daily lives. The brand’s ‘Live good, Do good’ philosophy is a testament of the way today’s generation likes to live and as the title sponsors of Ziro Festival of Music, we are excited to showcase just that. The festival has one of the most picturesque venues in India with a terrific lineup of artists, experience centers, green acts of plogging, exciting masterclasses and more. Through this collaboration, we aim to bring together the tribe of Green Seekers who seek to be One with Nature in life, and at the festival, and together propagate the ethos of living consciously.”

Anup Kutty, Co-Founder and Creative Producer, Ziro Festival, said “It’s hugely encouraging to have an esteemed organization like Signature Packaged Drinking Water commit to supporting an independent project like Ziro Festival. Having worked with them in the previous year, it is apparent that our values regarding sustainability match”.

Bobby Hano, Co-Founder and Festival Director, Ziro Festival, said “This is a boost for responsible tourism in the northeast and will hopefully pave the way for a generation of eco-responsible artists and music lovers.”

Signature Packaged Drinking Water looks to invite Green Seekers to reconnect and exhilarate in nature’s authentic experiences whilst learning to make conscious decisions to live better in their life.

One97 Communications Limited which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that its wholly-owned subsidiary Paytm Payment Services Limited has introduced EMV 3DS upgrades for Visa cards. EMV 3DS is the latest security protocol to seamlessly authenticate consumers and safeguard against card-not-present (CNP) fraud. With this, the company has become one of the first to implement EMV 3DS for Visa cards across its existing merchant partners.

A new global protocol for authentication of card transactions, EMV 3DS is a mandatory requirement for card payments to make them more secure and effective.

Paytm Payment Gateway’s EMV 3DS upgrade has been developed in-house for the company’s existing online merchants to seamlessly migrate to the new protocol without any additional efforts from their end. It provides better authentication rate, and greater security, reduces false declines and offers 10X data exchanged with the issuer which reduces fraud as well.

Paytm Payments Services Spokesperson said, “We continue to bring industry-first innovative payment solutions for our merchant partners and users. With EMV 3DS compliance in record time for Visa, we have ensured that our existing merchants are ready for the upcoming festive season without worrying about upgrading integration or spending extra for tech bandwidth. With this, we continue to drive a global standard for seamless and safe card transactions.”

Rishi Chhabra, Head – Merchant Sales & Acquiring, Visa India and South Asia said “We congratulate Paytm Payment Gateway on its successful transition to the new EMV 3DS standards. We believe this enhanced EMVCo® protocol will augment the security of the online commerce ecosystem, ensuring safer and more efficient transactions for Visa cardholders and merchants. We are happy to have partnered with Paytm on this journey to provide superior transaction experiences to their customers.”

Bengaluru, 1st September 2023: Varthana, the largest affordable school loan company headquartered in Bengaluru, India has raised INR 207,000,000 (USD 2.5 million) for an education-focused social bond from Symbiotics Investments. Varthana finances affordable private schools and students with affordable school and student loans, customized to enable schools and students to unlock their full potential.

Following the issuance of this education-focused social bond, Varthana will be able to support more affordable private schools in rural and semi-urban regions of India. It will do this by providing these schools financing for equipment purchases and construction and refurbishment of the facilities. This also showcases Varthana’s ability to align with the internationally accepted International Capital Market Association Social Bond Principles, “ICMA SBP”, increasing the attraction of international financiers.

The social projects that will be financed are represented by loans for primary and secondary schools as well as student loans for vocational training.

“The low-budget schools in which we invest are counting on inclusive financial services to get back on the growth path following the unprecedented challenges faced during the pandemic. We are thankful to Symbiotics for their support, which enhances Varthana’s ability to play a constructive role in helping with the post-COVID-19 recovery and ongoing improvement of schools throughout the country,” said Steve Hardgrave, Co-founder & Chief Executive Officer (CEO), Varthana Finance.

“With this education-focused bond, Symbiotics Investments opens the door for international investors to contribute to the expansion of the education sector in India and directly invest in the future generation of this vibrant country,” said Prashant Bhardwaj, Symbiotics Investments Regional Manager South Asia.

This education-focused bond was issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, which was certified in December 2019 and November 2021 by DNV GL. The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed on the Luxembourg Green Exchange.