Archives January 2024

New Delhi, 3rd January 2024: Vedanta Ltd (Aluminium Business) has signed a Memorandum of Understanding (MoU) with Gujarat Alkalies and Chemicals Ltd (GACL), for exploring various business opportunities in the areas of Caustic-Chlorine and other allied businesses.

The MoU aims to recognize the potential of adding value to the businesses of both Vedanta Aluminium and GACL, by adopting a collaborative approach based on their complementary skills, strengths, and common business interests to achieve synergy. Accordingly, both companies desire to explore opportunities for cooperation in greater detail so that resources can be pooled together in a mutually beneficial manner. This is also in line with Vedanta Aluminium’s efforts towards vertical integration.

With this MoU, both companies have, in principle, agreed to jointly explore business opportunities either in the form of a joint venture project or through contractual arrangements of mutual interest.

3rd January 2024 PowerMax Fitness, a leading fitness equipment brand in India launches New Year – New You # MyBestStartsNow digital campaign to inspire people to stay healthy and fit this New Year. Geared towards inspiring individuals to embark on a journey towards a healthier lifestyle, the campaign is set to kick-start the year on an invigorating note.

Through the campaign, PowerMax wants to remind everyone that it’s never too late to start the journey, regardless of the challenges. The NEW YEAR- NEW YOU #MyBestStartsNow initiative is designed to encourage individuals of all ages and fitness levels to prioritize their well-being and make meaningful strides toward a healthier future.

PowerMax offers an extensive range of fitness products, including treadmills, exercise bikes, Foot Massagers, elliptical trainers, and strength-training equipment, all designed to meet the diverse needs of its customers. PowerMax brings the Gym Experience to Your Home, tailored for your busy lifestyle.

“At PowerMax Fitness, we believe that every journey towards a healthier lifestyle begins with a single step,” said Sanjay Goyal, MD of PowerMax Fitness. “The NEW YEAR – NEW YOU #MyBestStartsNow campaign aims to ignite a spark of motivation within individuals, empowering them to take charge of their health and well-being. We’re excited to foster a supportive community where everyone feels inspired to make positive changes and achieve their fitness goals.”

The campaign will feature a lineup of fitness influencers, wellness experts, and motivational figures to provide valuable insights, guidance, and encouragement to participants. From fitness challenges and workout routines to nutrition tips and mental wellness advice, the #MyBestStartsNow campaign aims to offer a holistic approach to achieving personal fitness goals.

Join PowerMax Fitness in embarking on a transformative journey towards a healthier, happier you. Follow the NEW YEAR – NEW YOU #MyBestStartsNow campaign now and be a part of this inspiring movement.

Urban Square Mall, Udaipur’s prominent shopping destination, concluded its long extravaganza, spreading festive cheer with various events and promotions. The mall aimed to create a vibrant and joyous atmosphere for visitors through multiple events, ranging from Spin & Win shopping campaigns to Christmas-themed décor, the Clash of Bands with Urban Square Activity, and more. The celebration witnessed the footfall of thousands of visitors who immersed themselves in the festivities, creating memories for a lifetime.

Urban Square Mall launched the Spin & Win shopping campaign for customers who spent Rs 2500 or more, allowing them to participate in a Lucky Draw. Prizes, ranging from daily gift vouchers to shopping sprees worth Rs 15,000, were announced for the luckiest customers. The innovative approach included the exciting Spin the Wheel & Win element for those who shopped for Rs. 5000 or more.

The mall was transformed into a winter wonderland with enchanting Christmas décor from December 15 to January 7. The theme, interlinked with experiential character zones for children, featured festive elements like Christmas trees, huts, and character activity zones, providing a magical experience for visitors. The Urban Santa mascot was introduced from December 21 to December 31 to enhance the Christmas spirit. Roaming across the mall, the mascot delighted visitors, especially children, by distributing chocolates and gifts, spreading happiness.

The mall also screened one of the superhit Bollywood movies, Rockstar, starring megastar Ranbir Kapoor. The screening was held in the plaza area, and the music and screenplay left everyone awestruck, providing a remarkable experience to remember.

Mr. Uddhav Poddar, MD, Bhumika Group, expressed, “We are thrilled to have concluded the year with such vibrant festivities. Our goal was to create a memorable experience for our patrons, and the overwhelming response reinforces our commitment to providing unique and enjoyable events at Udaipur’s most sought-after shopping destination. All the activities garnered remarkable responses from visitors and have encouraged us to host similar events in the future. I congratulate all the lucky winners who grabbed exciting rewards throughout the celebration.”

Mumbai, 3rd January 2024: Amazon miniTV – Amazon’s free video streaming platform has been making waves with its path-breaking content library. Recently the streaming service has made headlines with the latest season of their crime thriller anthology, Crimes Aaj Kal. Produced by Optimystix Entertainment and directed by Subbu Iyer, Crimes Aaj Kal Season 2 is hosted by the supremely talented Pratik Gandhi.

While discussing the growing rate of crimes amongst the youth, the actor candidly shared his thoughts. He said, “The growing rate of crimes among the youth these days is a huge concern, especially with the exposure that is available on social media. The generation today constantly seeks validation on social media and the number of likes decides their mood of living. I believe social media is a very powerful tool if used wisely, or else it can also be disastrous.”

Further adding to what was his takeaway from the crime anthology, he shared, “I believe the younger generation needs a lot of love and attention from their parents and loved ones. The need for the development of self-control must be instilled in them because that can help reduce a lot of things that may lead to being criminally offensive. It was quite tricky initially, as I was not playing a character, I had to be neutral and not take sides as an anchor, there were instances while narrating when I used to feel angry about the bad things that were happening in the story, but I couldn’t express it.”

Crimes Aaj Kal S2 is streaming now on Amazon miniTV, available on Amazon’s shopping app, Fire TV, and Play Store.

Nagpur,3rd January 2024– Zila Parishad Nagpur (Secondary School Education Department) in collaboration with Global Alliance for Mass Entrepreneurship (GAME) and its alliance partner Udhyam Learning Foundation (Udhyam), today announced the launch of the Entrepreneurial Mindset Development Program (EMDP) for 9th-grade students in 30 schools across Nagpur district. The program aims to cultivate a mindset of entrepreneurship as well as upskill students through a hands-on, experiential learning approach.

As part of the initiative, Udhyam’s team will conduct a full-day Training of Trainers (ToT) session for the selected teachers, equipping them with the necessary tools and techniques to implement the EMDP effectively which will be executed over next 8 to 10 weeks.

Mr. Ravindra Katolkar, District Education Officer, Nagpur said, “We believe in the importance of fostering a culture of entrepreneurship at the grassroots level. EMDP will prove to be beneficial to students as well as teachers to enable them with critical thinking skills required in the future.”

Udhyam, a key partner in this venture, believes that the program’s timing aligns with the evolving job market and the pressing need for entrepreneurial skills Mekin Maheshwari, Founder and CEO, Udhyam Learning Foundation, said, “In a world where adaptability and creativity are paramount, the EMDP equips students with the mindset and skills needed to navigate the challenges and opportunities of the 21st century.”

Speaking about the program, Ketul Acharya, President, GAME, expressed his enthusiasm stating, “Over the last five years, we have made critical interventions and helped scale India’s journey towards job creation as well as building the right ecosystem to promote an entrepreneurial mindset across the country. Entrepreneurship is a key driver of economic growth, and by instilling this mindset in students, we are not only preparing them for the future of work but also empowering them to create positive change in their communities.”

The EMDP is a three-month journey for students, involving ideation, project implementation, and the development of entrepreneurial mindsets and skills. The program will culminate in a District Exhibition in March 2024, where the top 10 projects will be showcased and rewarded.

As the program progresses through teacher training, school-level implementation, and the district exhibition, it is poised to make a significant impact on the participating students and contribute to the development of a more entrepreneurial and innovative generation.

New Delhi, 3rd January 2024:Servotech Power Systems Ltd., India’s leading EV charger manufacturer has signed an MoU with the Lloyd Institute of Engineering and Technology to promote research, education, training, FDPs, and innovation in EV technology and charging infrastructure by establishing an exclusive research and development lab and centre of excellence on EV charging technology and infrastructure. Servotech extends internship and job opportunities to trainees from the centre of excellence, fostering practical experience and industry exposure.

Lastly, the company plans to set up and commission a charging station equipped with a 14 kW EV Charger, suitable for 2, 3&4 wheelers, within Lloyd’s premises. Accessible to students and faculty of the institute, it will offer free charging. The charging station will also extend its services to the general public and students from nearby institutes. This inclusive approach cultivates communal advantage and these initiatives ultimately expedite the widespread adoption of EVs.

The R&D centre aims to foster innovation, create awareness, sensitize individuals, and upskill students as per industry needs, furthering research in EV technology and charging. Additionally, it will offer training, organize seminars and workshops, across various forums to share knowledge and insights. By extending internship and job opportunities, Servotech creates a symbiotic relationship between education and industry innovation. The establishment of an EV charging station showcases real-world application and accessibility of EV charging infrastructure, bringing India closer to its dream of being an EV-powered nation.

ArunHanda, Chief Technical Officer, Servotech Power Systems, expressed, “By leveraging the expertise of Servotech and the academic excellence of the Lloyd Institute, the R&D centre will become a catalyst for ground breaking technological advancements in the rapidly evolving field of EVs. We look forward to creating a collaborative ecosystem that benefits students, faculty, and industry professionals alike. The R&D centre equipped with cutting-edge facilities is all set to support advanced research projects, testing, and development of EV charging technologies. As the demand for electric vehicles surges globally, the centre is set to play a pivotal role in shaping the future of sustainable mobility, empowering individuals with the expertise needed to drive impactful change in the automotive landscape”

Manohar Thairani, President, Lloyd Institute of Engineering and Technology commented “This MoU represents Industry-Academia collaboration to skill the fresh talent in the area of EV. LIET focuses on skill-based education and has established centres in emerging areas such as EV, Li-ion Batteries, and Drone technology. This collaboration with Servotech Power Systems will give real exposure and develop an understanding of the students of the Institute and the nearby region in the EV sector. Additionally, the centre will act as a hub to cater to the multiple needs of e-mobility along with extending the trained manpower required for Aviation and other Industries. Overall, this step will bring our country closer to its dream of being an EV-powered and mission Viksit Bharat”.

Bengaluru, 3rd, January 2024: The Indian Gas Exchange (IGX) has entered a data licensing agreement with S&P Global Commodity Insights to use S&P Global’s Platts benchmarks in IGX’s proposed Long-Duration Contracts (LDCs). The licensing agreement was executed on the sidelines of Indian Gas Exchange’s 3rd Anniversary event. This data collaboration allows IGX to use S&P Global’s benchmarks to settle its planned LDCs and further enables IGX to provide an array of contracts based on key indices including the Platts Japan Korea Marker (JKM), Platts West India Marker (WIM) & Platts Dated Brent to its trading participants.

Renowned for its rigorous price assessment methodologies and independent daily price assessments in various energy and commodities markets, S&P Global Commodity Insights and its Platts benchmarks are an important addition to IGX and its commitment to fostering innovation and providing a robust platform for buyers, sellers, and traders in the Indian gas market. By incorporating globally recognized benchmarks, the exchange aims to enhance market liquidity and create a conducive environment for the growth of the natural gas sector in India.

IGX’s LDC contracts, with three-month to one-year commitment lengths, will help India’s market participants secure their natural gas needs. IGX intends to provide complete flexibility to its natural gas buyers to choose fixed-price terms or prices linked to international Platts benchmarks. This will enable buyers to manage commodity and price risk under competitive, transparent, and flexible options on IGX.

Speaking on this development, Mr Rajesh Mediratta, MD & CEO, Indian Gas Exchange Limited said, “This collaboration brings together the strengths of both the companies for the benefit and growth of the Gas Sector in India. This milestone initiative will offer trading participants of IGX an unprecedented flexibility and price hedge. We are confident this data collaboration will open many more areas of cooperation between our two companies.”

Saugata Saha, President of S&P Global Commodity Insights, said, “We’re pleased IGX recognizes the price transparency Platts benchmarks bring to the marketplace, as well as their relevance beyond the point of assessment. We welcome important data-licensing alliances that foster growth in key marketplaces like India.”

S&P Global Commodity Insights is the leading independent provider of information, data, analysis, benchmark prices and workflow solutions for the commodities, energy and energy transition markets.

Bengaluru, 3rd January 2024: KFin Technologies Limited (“KFintech”), a leading provider of global investor and issuer solutions, unveils XAlt, a first-of-its-kind, and integrated fund administration platform designed exclusively for Alternative Investment Funds (AIFs) in India. The platform offers an integrated solution, making it easier for fund managers and investors to navigate the complexities of AIFs.

Over the past decade, AIF commitments skyrocketed from ₹1,437 crore in 2013 to ₹8,33,774 crore in March 2023—a phenomenal 580x increase. This surge in AIFs is expected to grow at 26% CAGR as India sees substantial growth in high-net-worth individuals (HNIs), ultra-HNIs, and foreign investors seeking diverse investment products in domestic markets. With the alternative investment landscape in India witnessing unprecedented growth, KFintech’s XAlt emerges as a transformative solution. The platform simplifies and streamlines fund administration, addressing the needs of investors, fund managers, distributors, and regulato

XAlt offers a seamless experience in handling investor services, bolstered by its integration with KFintech‘s in-house Fund Accounting platform, mPower. mPower automates key processes such as valuations, income recognition, and compliance management, further streamlining fund administration. This integration further enhances operational efficiency and provides an exceptional user experience.

 Other key features of the platform include:

 Persona-Based Portals: XAlt offers tailored portals for different users like investors, distributors, and fund managers, providing them with relevant dashboard information and detailed transaction insights.

 Digital Onboarding for Investors & Distributors: The platform enables easy and digital sign-up processes for investors and distributors, streamlining their integration.

·    Seamless System Integration: XAlt facilitates smooth interaction between various internal and external systems, enhancing operational efficiency.

·    

  Innovative Commission Processing: It introduces unique features for processing commissions in AIF funds, a first in the industry.

·Regular AML/KYC Checks: The platform conducts daily runs of Anti-Money Laundering (AML) and Know Your Customer (KYC) checks to ensure compliance and security.

·Robust Security Measures: For high-value investors, XAlt provides strong security through complete encryption, virtualization, and tokenization.

 Mr. Sreekanth Nadella, MD & CEO at KFintech, said, “XAlt signifies KFintech‘s commitment to providing innovative solutions that meet the growing demands of investors, fund managers, distributors, and regulators in the rapidly expanding AIF market in India.

With the introduction of XAlt, KFintech aims to set new standards in the AIF fund administration space, offering a fully automated system that aligns with the industry’s evolving requirements.”

 The industry-first platform is poised to significantly impact fund management and the growth of the AIF sector in India. It simplifies complex processes for fund managers and investors, encouraging more efficient and secure fund administration. Its integrated approach is expected to attract more investments into the AIF sector due to its user-friendly and secure environment for fund administration.

Bangalore,3rd January 2024: As a New Year gift to its customers, Bank of India, one of the leading public sector banks in India, has introduced a Super Special Fixed Deposit at very attractive rate of interest of 7.50% p.a. for its customers & general public (for Rs 2 Crs & above to less than Rs.50 Crs) under specific maturity period of 175 days with effect from 1st January 2024.

The Super Special Fixed Deposit offers a very lucrative rate of 7.50% p.a. for 175 days, which is high yielding avenue for HNIs & Corporates to deploy their surplus funds for the short term. This special fixed deposit is offering one of the most attractive rate for short term (175 days) deployment/ placement while comparing with other fixed deposit of similar tenure. The special fixed deposit is for domestic rupee term deposit only. The special fixed deposit is introduced as a limited period offer.

[Bangalore, 3rd January 2024 – Murty Trust, the family foundation of Mrs. Sudha Murty and Mr. Narayana Murthy, in partnership with Compassion Unlimited Plus Action (CUPA), has announced the opening of a state-of-the-art community cat sterilization centre. The clinic, launched under the name ‘Maitri’ (meaning goodwill, friendship, amity), is set to address the challenges encountered in the animal welfare sector in Bangalore. This will be one of India’s first sterilization centers dedicated to community cats.

The Maitri initiative is a collaborative cat sterilization effort between the local community and CUPA that can help manage stray cat populations in the city, while also addressing the One Health challenge of overpopulation. CUPA, through their community enablement model for cat ABC, has already sterilized over 5000 community cats since its inception in 2018. With the Maitri initiative, The Murty Trust seeks to amplify CUPA’s remarkable work by providing essential resources, allowing them to scale their efforts in community-cat population control.

The clinic commenced operations on 1st Jan, 2024 and was inaugurated by Mrs. Sudha Murty and Ms. Aparna Krishnan, in the presence of CUPA trustees, Ms. Suparna Ganguly, Ms. Sanober Bharucha, and Ms. Rajani Badami.

Mrs. Sudha Murty, while talking about the Maitri initiative said, “Although animals do not have a voice, they have feelings and emotions. When the population of cats increases in a neighbourhood, they fight for resources like food and shelter. This leads to problems for the cats and the residents of the community. We hope to provide them with the resources to scale CUPA’s work for the wellbeing of the animals and community. “

Ms. Rajani Badami, Hon. Trustee, from CUPA remarked, “We are delighted to partner with Murty Trust for the Maitri initiative. Together, we can make a significant difference in controlling the community cat population and creating a more harmonious environment for both cats and the residents of Bangalore.”

Compassion Unlimited Plus Action (CUPA) was founded in 1991 by Ms. Crystal Rogers, Ms. Suparna Ganguly and Dr. Shiela Rao, who have dedicated their lives to rescue and care of Bangalore’s stray animals. CUPA operates multiple centres across the city, addressing diverse animal welfare aspects such as birth control, trauma response, large animal rehabilitation, and rehoming abandoned animals. With over 30,000 animals receiving medical care annually, CUPA remains at the forefront of animal welfare in Bangalore.

The Murty Trust, under the leadership of Mrs. Sudha Murty and Mr. Rohan Murty, is a not-for-profit organization dedicated to preserving and celebrating art, cultural heritage, science & research, Indian books & manuscripts, and knowledge systems born out of India.

The Trust’s philanthropic initiatives centre on improving education, healthcare, awareness of art and culture, and animal welfare. Over the past 2 years, the Trust has supported 12+ prominent organizations dedicated to the well-being of animals in the animal welfare and wildlife conversation space, further fortifying the Trust’s dedication to the cause of promoting humane treatment and care for animals. Over the next decade, the Trust will have these two areas as its focus. These welfare efforts extend to various programs and projects aimed at positively impacting communities and fostering sustainable development, one of which is Maitri.