Archives February 2024

Mumbai, 17th February 2024: NeoGrowth, the MSME-focused digital lender in India, announced its financial results for the third quarter that ended December 31, 2023.

Performance Highlights of Q3FY24 (October – December):

• Asset Under Management (AUM) grew 51% to INR 2,456 crore in Q3 FY24, compared with INR 1629 crore during the same period last year
  Disbursements climbed 39% to INR 672 crore in Q3 FY24
• Gross revenue jumped by 67% to INR 160 crore in Q3 FY24
• Return on Equity (ROE) stood at 13.19%
• Return on Assets (ROA) was at 3.68%
• Operating Costs to Net Revenue improved to 34.19% in Q3 FY24
• Profit Before Tax (PBT) rose to INR 28 crore in Q3 FY24
• For the nine months period (April to December 2023), PBT stood at INR 67 crore
• Net Non-Performing Assets (NNPAs) remained low at 1.42%
• Capital Adequacy (CRAR) stood at 30.69%, above the regulatory requirement of 15%

Mr. Arun Nayyar, Managing Director & CEO, NeoGrowth, said: “Our robust performance in Q3 FY24 is fuelled by our innovative product offerings, deep understanding of the customer segment and strong digital lending capabilities. By combining Digital Public Infrastructure with data science and analytics, we continue to enhance our customer selection and risk management processes. We not only aim to empower countless small businesses nationwide but also constantly strive to simplify lending across the value chain for MSMEs.”

Y-o-Y change in the financial performance

Figure in Crores

Additionally, rating of NeoGrowth has been upgraded by ICRA to [ICRA]BBB+ from [ICRA]BBB.

Beyond the Numbers: Qualitative Metrics

NeoGrowth follows a flow-based lending model and analyses the digital financial transactions of MSMEs to assess their creditworthiness. The company leverages India’s expanding digital payments ecosystem combined with its own robust data and analytics capabilities. NeoGrowth harnesses the existing Digital Public Infrastructure (DPIs), including e-KYC, Account Aggregator framework, DigiLocker, eSign, and UPI. The digital lender’s strong growth is driven by its holistic product suite, robust data-driven underwriting model, deep customer connect, strong data science capabilities, and analytical models across the value chain.

NeoGrowth boasts a robust portfolio of 26,000 active MSME borrowers across 75+ diverse industries and 25+ locations. This translates to more than INR 11,000 crore in loans disbursed and engagement with more than 150,000 MSMEs.

NeoGrowth’s success is further enhanced by the backing of esteemed investors such as Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital, 360 One Asset, FMO, and Leapfrog Investments.

Vi, a leading telecom provider, today announced the launch of eSIM services for its prepaid customers in Mumbai, Maharashtra, and Goa. This marks a significant step forward in providing seamless, faster, and eco-friendly connectivity for millions of Indians.

eSIMon a compatible smartphone or smartwatch device will enable greater convenience and flexibility for Vi prepaid customers. Vi users will be able to instantly activate new plans by simply scanning a QR code, allowing them to switch plans in minutes. eSIM supports multiple profiles on a single device, so one can conveniently use a second sim card without removing primary sim. Most importantly, eSIMs are a step towards sustainability and, overall, leads to faster connectivity and seamless adoption of new technologies.

Shailendra Singh, Operations Director, Mumbai, Maharashtra & Goa, Vodafone Idea, said “At Vi, we believe in introducing services and offerings that bring convenience and value for our customers. Embracing eSIM technology not only reflects our ongoing efforts to meet the evolving needs of our customers but also leverages advanced technologies towards a sustainable future. We will soon be launching eSim for our Vi prepaid customers in other markets as well.”

How to get VieSIM on your phone
Existing Customer
● Send an SMS with “eSIM registered email id” to 199 to initiate the process.
● If your email id is valid, you will receive a confirmation SMS. You would need to reply with “ESIMY” to confirm the eSIM change request within 15 mins of receiving the message
● Post your confirmation SMS, you will receive another SMS requesting your consent over the call, failing which the SIM change request will be cancelled
● After providing your consent on the call, you will receive a final SMS regarding the QR Code which you would have received on your registered email id
● After receiving the QR code, users will have to scan the QR code received via email by going to Settings > Mobile Data > Add data plan
● Rename the data plan label for secondary SIM if needed or continue
● Choose the default line (Primary/Secondary) for your device and click Done
● Your eSIM will be activated approximately 2 hours after scanning the QR code

New Customer
● Users can visit their nearest store with their identity proof and facilitate the activation process by using the Smartconnect App, ensuring a smooth and hassle-free experience
● Vi users can either scan the QR code generated at the store or from the email provided during activation
● Additionally, Vi has enabled neo journey, eKYC, and DKYC processes for prepaid subscribers, further streamlining the activation process

Vi eSIM is accessible to iOS and Android users. Below is the list of smartphones that can avail this service:

Vi eSIM service is available to select prepaid customers across India providing customers with nationwide coverage and connectivity. Prepaid customers can update their email ID by sending the SMS ‘Email <space> Email ID’ to 199. After registering their email ID, customers have to wait for 48 hours to avail eSIM service via SMS.”

For more information about Vi eSIM service and its benefits, visit Vi’s official website or contact your nearest ViStore.

New Delhi,17th February 2024 TVS Eurogrip, one of the fastest-growing global brands in 2-wheeler, 3-wheeler, and Off-Highway Tyres, participated in two international expos this week -World AG EXPO in Tulare, California, USA from February 13th to 15th and FIMA AGRICOLA at Feria de Zaragoza, Aragon, Spain from February 13 to 17, 2024.

A wide variety of off-highway and agriculture tyres were displayed at stand no R 35, North Exhibits Hall in World AG EXPO and at stand no E16-18, Hall no 7 in FIMA 2024.

Elaborating about the participation, Mr. S Mathan Babu – Vice President, OHT Sales & Marketing, TVS Eurogrip said, “We are very happy to have participated at AG EXPO – the largest annual expo of its kind and at FIMA which is an international fair of agricultural machinery celebrating its 60th anniversary. These are great platforms to showcase our latest product range and the technology we put behind such world-class products. We are glad these expos have only been getting bigger and better with every passing year. We have had engaging conversations with a plethora of potential partners who visited our stands at both the fairs.”

Prominent off-highway products exhibited at World AG EXPO include 16.9-28 BL09 12PR TL TVS used in Backhoe loader, 12-16.5 ST54 12PR TL TVS for Skid steer, 520/85R38 155D/158A8 AR800 TL TVS for Tractor Radial, 12.5/80-18(320/80-18)BL36 16PR TT TVS for Backhoe loader, 560/60R22.5 FL909 165D TL TVS Agri for Transport Radial, 12.5L-15 SL I 1 12 PR TBL TVS for Implements, 600/50-22.5 FL09 16PR TBL TVS Agri – for Transport Bias,18.4-38 TR45 12PR TL TVS for Tractor Radial, 380/90R46 RC900 165D/168A8 TL TVS for Row Crop Radial, 600/55R26.5 FL900 165D/176A8 TL TVS Agri for Transport Radial and VF 800/65R32 HS3000 184D TL TVS TIGERTRAC for Harvester VF.

AR 600 for Tractor Radial, AR 600 for Tractor Radial, RC 900 for Row Crop Radial, FL 909 for Agri – Transport Radial, FL 909 for Agri – Transport Radial, FL 909 for Agri – Implement VF Radial, FL 900 for Agri – Transport Radial, HS 3000 for Harvester VF, HS 1000 for Harvester STD, TR 36 for Spreader, FL 09 for Agri – Transport Bias, TF 27 for Tractor Front and TR 45 for Tractor Radial were the products displayed at FIMA AGRICOLA 2024.

More than 1200 exhibitors displayed the latest in farm equipment, communications, and technology on 2.6 million square feet of exhibit space at World AG EXPO. There were seminars which focused on a variety of topics important to agribusiness professionals, ranchers, dairy producers, and farmers.

Exhibitors and visitors from all over the world thronged FIMA AGRICOLA 2024 which is one of the most prominent and internationally recognized events in the agricultural sector. Best presentations and professional conferences were also held at FIMA.

Mumbai February 16th, 2024: International education specialist Study Group, which partners with more than 50 leading universities, has today revealed new programmes for accomplished Indian students considering higher education in the UK. At a press engagement in Mumbai, Ian Crichton, Study Group’s Chief Executive Officer interacted with key journalists in the Indian education media landscape to ensure that accomplished Indian students are aware of the world class education opportunities available.

In addition to launching new International Year One programmes, Mr. Crichton stated he expects a 40% increase in the number of Indian students entering their UK higher education with Study Group’s support this year. He also discussed how Indian students are grasping the opportunities of global education and now comprise the largest contingent of international students in the UK, benefitting from its reputation for teaching quality, a long history of welcoming Indian students and the employment prospects available to its graduates.

“Students are prioritising programmes with strong industry connections and internship opportunities in highly skilled fields, aligning with the UK’s emphasis on career-oriented education,” says Mr. Crichton, “Indian students today are particularly interested in science, technology, engineering and maths (STEM), including subjects such as computer science, artificial intelligence and data science, which are highly relevant to the evolving tech landscape. However, business, management, finance, law and health remain popular subjects, since the UK excels in these areas and attracts those seeking cutting-edge education and future-proof skills.”

In response to the changing ambitions and career goals of Indian students, Study Group has added a range of new International Year One programmes — known as International Year Two programmes in Scotland — in relevant subject areas. These programmes are designed in collaboration with Study Group’s partner universities specifically for international students who are considering applying directly to an undergraduate degree programme but are unfamiliar with the UK education system, and would therefore benefit from smaller class sizes, additional language instruction and support designed around the academic skills associated with that level of study.

The programmes are intended to equip international students with the confidence that their academic abilities are comparable to those of domestic students raised within the UK education system. Through an intensive period of study and tailored support, motivated students can achieve the required standards to be accepted and progress to an advanced stage of a degree at their chose university on a level playing field with their peers from the UK.

Students who are successful in reaching the required academic standards can then achieve a degree within two years. 94% of Study Group students who completed their International Year One or International Year Two programme were deemed by Study Group’s university partners as eligible to progress to their chosen university last year.

Noor, an International Year One in Computer Sciences student at England’s Teesside University International Study Centre, echoes the sentiment of personal and academic growth that enhances employability after graduation, and a new confidence from global study. “I really didn’t speak to anyone when I was in my home country. After coming here, I learned to speak with others and communicate with them. In education, we sit together and we discuss things and we solve a problem.”

Provost and Chief Academic Officer Professor Elena Rodriguez-Falcon oversees Study Group’s academic staff and teaching at the International Study Centres delivered in partnership with universities. She says: “Our International Year One programmes are intensive preparation courses for further study at one of our partner universities. They provide our students with the knowledge and skills equivalent to that of the first year of a specific undergraduate but even the most successful student may doubt themselves at times. They may lose their confidence, miss their family, experience moments of culture shock or feel the effort to learn is overwhelming. This is where our staff really come into their own. The care they put into student confidence and wellbeing from arrival, to making friendships and creating roots in a new city is second to none.”

Mr Crichton noted the importance of offering high-quality routes to respected universities for Indian students with the ability and dedication to succeed at degree-level study. “Global education,” he says, “is a tremendous good, bringing together talent from across the world and opening up opportunities for all who benefit from it. The work of Study Group is to support this endeavour, preparing students to succeed and ensuring those deemed by universities eligible to study had the study skills, language ability and academic capacity to do so.”

I am sure you have wondered, heard or sometimes even felt, whether your iPhone is listening to you? It can sometimes be distressing to consider if you’re continually being overheard by an invisible third-party and not know who that is.

Last year in Q2, 2023, India became Apple’s fifth-largest iPhone market, surpassing Germany and France in sales. Apple’s CEO, Tim Cook also shared how he views India as a crucial future market, and the company is intensifying distribution and marketing efforts. According to Counterpoint Research, India contributed nearly 4% to overall iPhone sales in the second quarter, with a 50% YoY growth. Apple’s market share in India’s smartphone market rose to 5.1% from 3.4% in the same period last year. This growth coincides with Apple’s increased focus on retail and manufacturing in India, highlighted by the opening of its first physical stores in Delhi and Mumbai in April.

But let’s come back to the real question- Is your iPhone snooping on you? That is the $64,000 question.

It’s true that your iPhone might be passively listening, but perhaps not in the lawless, intrusive ways that you might imagine. Apple does not sell data to third-parties for marketing purposes. The company has explicitly stated that:

“The customer is not our product and our business model does not depend on collecting vast amounts of personally identifiable information…,” in response to a 2018 U.S. congressional inquiry.

If that’s the case, why are iPhones listening?

One of the primary reasons as to why iPhone listening occurs is to detect voice commands, like “Hey Siri”.

While highly unlikely due to Apple’s rules and compliance processes, apps could also be “listening”.

When it comes to advertising, the term “listening” really refers to the use of sophisticated machine learning algorithms, which parse apart language to find ad targeting opportunities.

It’s probably not a coincidence if you’ve had a conversation about buying a new car, and shortly thereafter, corresponding advertisements appear.

Note: This isn’t at all common to iPhones, unless they’ve been jailbroken, and typically only occurs on other device types.

What about Siri?

Siri continuously “listens” for the specific “Hey Siri” cue (and for a small number of similar sounds indicating that a person may have attempted to say “Hey Siri”).

Once a person has said “Hey Siri,” the information is largely processed locally; a somewhat recent departure from the past configuration, where information was processed on Apple’s servers.

Is the iPhone listening illegally?

For iPhones, third-party apps are required to obtain explicit user consent when collecting microphone data. At the outset, Apple reviews apps to ensure that they’re compliant.

All apps must go through the Apple Review Process for privacy compliance ahead of being green-lighted for the app store. That said, the process doesn’t guarantee that app developers can’t misbehave at a later point in time.

In other words, in regards to apps, Apple does its best to ensure that iPhones don’t eavesdrop. Accidents could theoretically occur, although the probabilities are slim and they would be clear violations of Apple’s rules.

Is iPhone listening a cause for concern?

Generally, no. If you’re concerned about iPhone listening, note that the newer generations of iPhones have an indicator at the top of the screen that shows when the mic and camera are on.

The light becomes orange when the mic is on. It turns green when the camera is on. This recently added privacy feature assists users in detecting when an app is accessing their device’s systems.

In exceptional circumstances, spyware could be deployed on a phone, resulting in listening. Typically, this only pertains to higher-profile individuals, uniquely targeted individuals, and/or to jailbroken phones.

iPhone listening privacy tips (2024)

If concerned about iPhone privacy, consider the tips below:

1. Shut off the mic for Siri and for individual applications.

To switch off your iPhone’s microphone for Siri, go to Settings > Siri & Search. Then toggle off the following:

· Listen for ‘Hey Siri’

· Press side button for Siri

· Allow Siri when locked

To review permissions and turn off the mic for individual applications, navigate to Settings and then click on individual apps. If you don’t want the mic for that app to remain on, simply toggle the switch.

2. Consider use of a VPN, which will make your device less vulnerable to threats by providing an encrypted, private connection. Do your research and find a reputable VPN provider. Avoid VPN providers who sell your contact information to advertisers. Carefully read through a VPN provider’s privacy policy ahead of agreeing to use their service.

3. Opt for a comprehensive solution like ZoneAlarm mobile security, which uses enterprise-grade technology to protect individuals’ phones and tablets from all kinds of cyber threats.

The question of privacy in the digital age continues to be asked, as concerns persist amongst users about the extent of data collection and the potential for covert surveillance. As we have advised, it is vital for users to stay informed, remain vigilant about your digital footprint and advocate for transparent data practices to safeguard our privacy rights in this new digitally connected world.

Mumbai, February 16, 2024: With an aim to empower the people of the State and the community at large, Hon’ble Chief Minister Conrad K Sangma, announced several key initiatives of the Government. Addressing a public gathering at the Meghalaya NEXT Event at the NEHU Convocation Hall in Shillong, Hon’ble Chief Minister highlighted the Government’s commitment on empowering the people of the State.

Addressing the gathering, Hon’ble Chief Minister focussed on the Government’s proactiveness at launching projects worth hundreds of crores on a single day. “Today, we will be inaugurating 15 processing units. There will be close to about 200 Plus units that will be inaugurated through the course of this year,” he said.

Highlighting a unique scheme, the Green Meghalaya, Hon’ble Chief Minister ascertained the Government’s commitment on preserving the forest cover of the State and reverting the damages of severe degradation. “We are trying to pre-empt people from damaging the forest and I’m happy to tell you that we have been able to cover 50,000 hectares in a matter of two years, and we are targeting one and a half lakh hectares now. Today, a record 12 crore is being distributed to different communities to empower the people to protect their own forest and protect their own land,” Hon’ble Chief Minister Shri Conrad K. Sangma stated while clarifying doubts that this scheme in no manner takes land away from the rightful owner.

Speaking about the FOCUS program, Hon’ble Chief Minister said, “I’m happy to inform you that in the last two years, we have distributed over 100 crores to over two lakh families in different parts of our state as the first tranche in the first part of our program. We aspire to touch 4,50,000 farmers, which is a massive exercise, but the process is on. But as we move forward, and as was what was promised by me in different forums, we are today again releasing now for this five-year term. Today, we’ll be releasing a tranche of Rs 3.5 crores to almost close to 517 groups.”

The Government of Meghalaya, in a move to enact its water policy, launched the project, ‘Protection of Vulnerable Catchment Areas in Meghalaya’ or ‘MegARISE’. The project’s scope extends to benefiting 106 villages across 39 micro-watersheds. The target groups for this project are communities from 71 villages in the 13 micro-watersheds in Umiew catchment and 35 villages from 26 micro-watersheds in Ganol catchment in Meghalaya.

Bengaluru, February 16, 2024: RR Kabel Limited is delighted to share the news of its inclusion in the esteemed 2023 Burgundy Private Hurun India 500 list. This achievement stands as a testament to the company’s remarkable impact on the Indian economy. Compiled by Burgundy Private and Axis Bank’s Private Banking Business in partnership with Hurun India, this exclusive list recognizes the top 500 companies in India, ranked based on their market capitalization for listed companies and valuations for non-listed entities.

“We are honoured to be recognized among the top 500 companies in India by Burgundy Private Hurun India 500. This acknowledgment underscores the significant contributions RR Kabel Limited has made to the Indian economy and reaffirms our commitment to excellence and growth. We extend our gratitude to Burgundy Private, Axis Bank’s private banking business, and Hurun India for this prestigious recognition; this achievement motivates us to continue striving for excellence and making a positive impact on the Indian economy.” said Mr. Shreegopal Kabra, Managing Director at RR Kabel Limited.

The 2023 Burgundy Private Hurun India list stands as a hallmark of corporate achievement within the Indian economy. This prestigious list showcases the top 500 most valuable companies in India, meticulously assessed based on their market capitalization and valuations. This thorough evaluation ensures that the list accurately represents the true value and potential of India’s corporate ecosystem. Securing a spot in this list places RR Kabel among an elite group of companies that are instrumental in shaping India’s narrative of growth and dynamism. It reflects the trust and confidence placed in RR Kabel Limited by its stakeholders, solidifying its position as a key player in the Indian business arena.

RR Kabel Limited’s inclusion on this prestigious list reaffirms its dedication to excellence, innovation, and sustainable progress. It stands as a powerful testament to the brand’s core values of quality, innovation, trust, and transparency, making RR Kabel the preferred choice for customers not only in India but also worldwide.

Sachin Manchanda Foundation Distributes Dustbins and Saplings to Pragati Government Primary School in Sushant Lok, Gurugram

Sachin Manchanda Foundation, a leading non-profit organisation dedicated to environmental sustainability, took the initiative towards community services by distributing dustbins and saplings to the Pragati Government Primary School in Sushant Lok, Gurugram. This was one of the multiple activities carried out by the Foundation after successfully conducting a plantation drive in Government Model Sanskriti Senior Secondary School, Faridabad, under its ‘Eco-Sanskriti’ Initiative’. This activity aimed to promote cleanliness and environmental consciousness among students while fostering a culture of responsibility towards the environment.

Recognising the importance of waste management and environmental conservation, the Foundation embarked on this charitable endeavour to empower the young minds at Pragati Government Primary School. The distribution of dustbins will not only facilitate proper waste segregation and disposal but also instil in the students the habit of maintaining a clean and hygienic environment within their school premises.

Furthermore, the provision of saplings aligned with the foundation’s commitment to promoting green initiatives and fostering a sense of responsibility towards the conservation of the environment among the youth. By planting saplings on the school grounds, the foundation aims to enhance the green cover, mitigate air pollution, and educate students about the significance of trees in sustaining a healthy ecosystem.

“We believe in the power of education and community engagement to drive positive change,” said Mr. Sachin Manchanda, Founder of the Sachin Manchanda Foundation. “Through this distribution, we hope to inspire the students of Pragati Government Primary School to become champions of environmental conservation and take proactive measures towards building a sustainable future.”

The ceremony, held at Pragati Government Primary School in Sushant Lok, Gurugram, was attended by representatives of the Sachin Manchanda Foundation, school faculty, and enthusiastic students eager to embrace the initiatives aimed at preserving the environment.

New Delhi, 16th February 2024: The premier franchise-based preschool network in India, Bachpan Play School, celebrated 20 appealing years of its history at the renowned Dr. Ambedkar International Centre, marking a momentous occasion. Bachpan, which has more than 1200 franchise-owned schools all over India, is a major player in the field of early childhood education.

Mr. Gulshan Grover, who graced the anniversary ceremony, stressed the critical role that Bachpan and AHPS schools have had in influencing the country’s educational scene.

The highlight of the evening was the felicitation of the franchise maestros with the prestigious Maestro Awards, recognizing their unwavering commitment and tireless efforts in making Bachpan Play School franchise a resounding success over the past two decades. This year marked the 6th edition celebrating the collective achievements and dedication of Bachpan’s franchise partners.

“As we celebrate 20 years of Bachpan, I am filled with immense pride and gratitude for the relentless teamwork and dedication that have propelled us to where we stand today,” stated Mr. Ajay Gupta, Founder and CEO of Bachpan Play School, reflecting on this incredible journey and expressing his sincere gratitude. “The remarkable people who have joined our family and the trust that numerous parents have placed in us have both played a significant role in our accomplishments.”

Additionally, the celebration honored the establishment of Academic Heights Public School (AHPS), Bachpan’s official formal school extension with more than 120 branches across the country, which took place 15 years ago.

Mumbai, 16 February 2024 – Malabar Gold & Diamonds, one of the leading jewellery retailers, secures the 19th position in Deloitte’s Global Powers of Luxury Goods 2023 ranking. The brand has also secured the top spot in India, reaffirming its dominance in the country’s luxury market.

The Deloitte Global Powers of Luxury Goods ranking list is compiled by assessing the global sales and brand value of jewellery, apparel, watches, and beauty products. Malabar Gold & Diamonds’ exceptional performance in global sales and brand value has propelled it into this distinguished list, marking a significant milestone for the brand.

Deloitte’s report highlights the dynamic changes in India’s jewellery retailing sector, the world’s second-largest market, where Malabar Gold & Diamonds has emerged as a front runner. Celebrating thirty years of excellence, the brand boasts an extensive collection of both contemporary and traditional jewellery styles. Its commitment to reliability and authenticity has earned Malabar Gold & Diamonds a coveted position as a consumer favourite.

M. P Ahammed, Chairman, of Malabar Group, expressed his gratitude, stating, ” We are honoured to be recognised on the global stage by Deloitte. This achievement is a testament to our unwavering commitment to quality, transparency, and customer satisfaction. We remain dedicated to pushing boundaries and setting new benchmarks in the industry.”

Malabar Gold & Diamonds is renowned for its commitment to transparency and fairness in pricing. As part of its Fair Price Promise, the brand ensures that customers can purchase their favourite jewellery at reasonable making charges. Furthermore, the brand offers the One India One Gold Rate scheme, ensuring uniform pricing for gold across all its stores in India. Strengthening the brand’s commitment to its customers, Malabar Gold & Diamonds offers 10 Malabar Promises. The promises include transparent price tag indicating stone weight, net weight, and stone charge of the jewellery; assured lifetime free maintenance for the jewellery; 100% value for gold when reselling old gold jewellery; 100% HUID-compliant gold; IGI and GIA-certified diamonds ensuring a 28-point quality check of global standards, buyback guarantee; complimentary jewellery insurance, responsible sourcing; and fair labour practices.

Malabar Gold & Diamonds currently operates a global network of over 340 stores across 13 countries. A key highlight of the brand’s ethos is its dedication to social responsibility, with five percent of profits allocated to various initiatives as part of its social responsibility programme.