All posts by Rabindra

IDBI Bank has announced a special Scheme “Sugam Rinn Bhugtan Yojana (SUGAM)”, to boost its recovery efforts through One Time Settlement of Retail NPAs up to March 31, 2021 with Borrower’s Principal Outstanding above Rs.0.10 crore and up to Rs.10 crore (subject to eligibility criteria), at relaxed terms to provide a renewed opportunity to the borrowers who are in distress and are willing to settle their dues to avoid legal entanglement. Brief of the scheme is available at https://www.idbibank.in/idbi-bank-sugam-rinn-bhugtan-yojana.aspx.

 

Bengaluru, 26 September 2024: TimBuckDo, a pioneer in the student gig economy,  has entered into a Memorandum of Understanding (MoU) with the Department of Collegiate and Technical Education (DCTE), Karnataka. This partnership aims to provide college students across the state with access to part-time jobs and internships, offering valuable work experience, skill enhancement, and financial independence during their academic years.

Founded by Mythri Kumar and Apoorv Sharma Prasad, TimBuckDo connects students with flexible gig opportunities, bridging the gap between students seeking part-time employment and businesses in need of support. The MoU signing event was attended by Dr. M.C. Sudhakar, Minister of Higher Education, Government of Karnataka, who emphasized TimBuckDo’s role in nurturing future leaders. Also present were Shri Srikar Mysore Sridhar, Principal Secretary of Higher Education, and Sri Jagadeesha G, I.A.S., Commissioner of the Department of Collegiate and Technical Education, Karnataka.

The collaboration between TimBuckDo and the Karnataka Government is driven by a shared vision to empower students with real-world work experience and financial independence during their college years. With approximately 10 lakh students studying in government colleges across first grade, technical, and polytechnic institutions in Karnataka, there is a significant opportunity to ensure equal access to a variety of part-time jobs and internships for all students, regardless of their background. This initiative aims to build a robust ecosystem that supports the professional growth of these students, enhancing their prospects and creating lasting opportunities.

Founders Mythri Kumar & Apoorv Sharma Prasad of TimBuckDo, said, “At TimBuckDo, we believe in the transformative power of opportunity. By partnering with the Government of Karnataka, we aim to create access points that empower individuals to unlock their potential and contribute meaningfully to the economy. This MoU is a testament to our commitment to inclusive growth and sustainable development, ensuring that no one is left behind in the journey towards progress.” They further added, “Our mission is to ensure that every student, irrespective of their background, has access to meaningful work experiences. We believe this partnership will create a positive impact on the lives of many students and contribute to the overall development of the state’s education system.”

Paper packaging offers a versatile and cost-effective solution for storing, transporting, and preserving a wide range of products. It can be easily customized to meet customer needs and product-specific requirements. Compared to other types of packaging, paper packaging provides several key benefits, including being lightweight, biodegradable, and recyclable.

The paper packaging materials market is being propelled by strict regulations from environmental protection agencies and increasing consumer awareness of sustainable packaging choices. The growing global population is driving demand for affordable packaging alternatives, such as bags, pouches, and cellulose-based materials.

A variety of end-use applications now call for environmentally safe and sustainable packaging materials as a result of recent breakthroughs in the packaging sector. This is a significant aspect influencing the development of the market for paper packaging materials.

Key Takeaways from Market Study:

• The global paper packaging materials market is valued at US$ 260 billion in 2022.
• Market in Canada is projected to progress at a CAGR of 5.3% over the forecast period (2022-2032).
• Sales of paper bags & sacks are anticipated to expand at a CAGR of 5.7% from 2022 to 2032.
• Market in Germany is set to evolve at a CAGR of 5.5% through 2032.

Paper Packaging Materials Gaining Huge Popularity:

Growing Demand for Sustainable Packaging – One of the primary reasons for the rising popularity of paper packaging materials is the global shift towards sustainability. With increasing concerns about environmental degradation, consumers and industries are seeking alternatives to traditional  which is non-biodegradable and harmful to ecosystems.

Biodegradability and Recycling – The biodegradable nature of paper packaging is another key factor behind its growing popularity. Unlike plastic, which can take centuries to break down, paper decomposes naturally, reducing the long-term environmental impact. In addition, paper packaging is easily recyclable, making it an important component in the circular economy, where materials are reused and repurposed to minimize waste.

Lightweight and Cost-Effective -In addition to its environmental benefits, paper packaging is lightweight, which makes it more economical for shipping and transportation. Reduced shipping costs are a significant advantage for businesses looking to optimize logistics without sacrificing sustainability. Furthermore, the relatively low cost of paper packaging materials compared to other sustainable alternatives makes it a cost-effective option for businesses looking to balance environmental responsibility with operational efficiency.

Rising Consumer Awareness and Preference– Today’s consumers are more environmentally conscious than ever before, and their purchasing decisions are increasingly influenced by the sustainability practices of brands. This has led to a growing preference for products packaged in eco-friendly materials, such as paper. Brands that adopt paper packaging not only appeal to this environmentally aware consumer base but also enhance their brand image as socially responsible and sustainable.

Innovations in Paper Packaging Technology-Technological advancements in paper packaging have significantly enhanced its functionality and broadened its application across various sectors. For example, innovations like liquid packaging cartons and more durable paper materials have made paper packaging more suitable for items that require leak-proof or moisture-resistant properties. These advancements are making paper packaging more competitive with other forms of packaging, such as plastic and glass, while still maintaining its eco-friendly appeal.

NEO DEVELOPERS, one of the leading builders in Delhi NCR has formally secured the Occupation Certificate (OC) for NEO Square Project located on Dwarka Expressway Sector – 109.

Neo Square is an exceptional commercial hub, featuring a variety of beautifully designed spaces that exemplify world-class standards. This Grade-A development offers seamless connectivity to UER I & II, SPR, and NH-8, making it ideal for high-end market segments. The expansive project includes diverse commercial offerings such as retail shops, a food court, restaurants, supermarket, cinema, and office spaces.

This project is developed in 3.07 Acres of land with 12 lakh Sq. Ft. total built-up area.

• There are numerous features in the project:
• ~6 lakh sq ft of development in Phase – I
• ~1.6 lakh sq ft dedicated to retail from GF to 3F
• ~3 lakh sq ft of office development 5F to 17F
• High speed elevators to ensure ease of movement
• Adequate provision for over 1600 car parks
• Separate drop off points for office and retail
• Vastu compliant ‘East’ facing building
• Energy efficient building
• 24X7 CCTV surveillance
• Fully Air Conditioned with 100% Power Back
• Zero waste generation

In close proximity to major residential developments with over 50,000 dwelling units: Sobha International city, Raheja Atharva, Vedaanta, The Vedas & Shilas, IndiaBulls Enigma, Chintels Serenity, Acropolis & Paradiso, CHD sector 109.

Delhi NCR, 26th September 2024 – In a continued effort to support environmental sustainability, REHAU, a global leader in polymer-based solutions, successfully concluded its annual clean-up drive across key cities in India as part of its REHAU Return program. This year’s initiative, which commenced on 16th September and culminated on World Clean-up Day (20th September), saw participation across Delhi NCR, Mumbai, Bangalore, Pune, and Vadodara.

As a brand committed to sustainability and circular economy practices, REHAU has been organizing this clean-up drive annually to demonstrate its dedication to environmental preservation. The initiative was aimed at promoting responsible waste management and creating awareness about the importance of recycling.

Mr. Faiz Ahmed, MD, REHAU (Pune Region): “India continues to make significant investments in waste management, with the Department of Drinking Water and Sanitation allocating ₹77,390.68 crore for the 2024-2025 fiscal year. A large portion of this is dedicated to the Swachh Bharat Mission (Gramin), highlighting the critical need for better waste management across the nation. In Pune, we are proud to contribute to this mission by encouraging responsible waste disposal practices. Our clean-up drive aims to inspire local communities to take an active role in keeping their surroundings clean, aligning with the government’s vision of a cleaner and healthier India.”

During the week-long drive, teams of volunteers, including REHAU employees, local residents, and environmental enthusiasts, worked together to collect waste from various areas across these cities. In total, the drive successfully removed 1500 Kgs of waste, which will be responsibly recycled as part of REHAU’s commitment to creating a cleaner, greener planet.

Mr. Manish Arora, VP – Furniture Solutions, REHAU (Delhi Region): “In Delhi, our commitment to recycling and sustainable practices is vital. Through our clean-up drive, we are not only addressing the immediate waste challenge but also emphasizing the importance of recycling plastic products. Our goal is to set a benchmark for responsible consumption and disposal, ensuring that our city and our products contribute positively to the environment.”

Mr. Lakshmi Pacha, VP (Strategic Projects), REHAU SOA (Bangalore Region): “Our clean-up drive in Bangalore is a strategic part of REHAU’s broader sustainability vision through the REHAU Return initiative. By committing to conscious usage of plastic materials and proper waste recycling, we aim to actively contribute to environmental conservation. The clean-up efforts we’re leading are not just about immediate results but are part of a long-term commitment to giving back to the planet. Through this initiative, we hope to encourage both our partners and the local community to adopt sustainable practices for a cleaner, greener future.”

By prioritizing proper recycling methods, the campaign not only helped in reducing waste but also reinforced the brand’s mission to minimize environmental impact and return resources back to nature through its REHAU Return initiative.

REHAU’s annual clean-up drive is a testament to the brand’s long-standing focus on environmental consciousness. Through this initiative, the company aims to raise public awareness about the importance of reducing, reusing, and recycling waste to protect ecosystems and promote a sustainable future.

Ms. Ashima Deepak Kaul, HR Head, REHAU SOA (Mumbai Region): “Across India, REHAU has actively encouraged its employees to become more conscious of their environmental impact. We have seen a remarkable shift in their mindset as they embrace sustainability initiatives, from reducing waste to volunteering in clean-up drives. In Mumbai, this clean-up drive is a prime example of how our employees are translating this awareness into action. It’s not just about cleaning a space; it’s about fostering a long-term commitment to preserving our surroundings and giving back to the community in meaningful ways.”

Mr. Shailendra Kulkarni, Plant Head, REHAU SOA (Vadodara Region): “Sustainability is integral to how we operate at REHAU. In Vadodara, we ensure that our manufacturing processes align with global environmental standards, minimizing waste and maximizing resource efficiency. This clean-up drive is an extension of our on-going commitment to sustainability. By taking the initiative beyond our plant, we aim to create a ripple effect in the surrounding community, demonstrating that responsible waste management is not just a corporate responsibility but a collective one that benefits all.”

<p style=”font-weight: 400; text-align: justify;”>Discover the vibrant flavors of Bali at MIKUSU, Conrad Bengaluru, where an exquisite culinary experience awaits you. From the 28^th of September to the 8^th of October 2024, indulge in a unique dining journey expertly curated by the acclaimed chefs from Conrad Bali—Chef Agus and Chef Wayan.</p>
<p style=”font-weight: 400; text-align: justify;”>Immerse yourself in a celebration of authentic Balinese gastronomy with a specially crafted menu, “Plates of Bali” that highlights the richness of Balinese culinary traditions. Delight in dishes like Siap Sambal Matah, featuring roasted shredded chicken paired with raw Balinese sambal, lemongrass, chili, and kaffir lime. Savor the grilled marinated lamb known as Serapah Kambing, infused with fresh grated coconut and turmeric ginger. Enjoy Kambing Lalah Manis, where braised lamb is served with a sweet and spiced reduction alongside fragrant steamed jasmine rice. Experience Nasi Goreng Udang Sambel Embe, a Balinese fried rice dish with prawns, fried shallots, garlic, and sambal. Indulge in Ayam Betutu, a slow-roasted chicken infused with Balinese spices, served with chicken ball soup, and steamed rice.</p>
<p style=”font-weight: 400; text-align: justify;”>End your meal with delightful desserts such as Bubur Injin, a black sticky rice pudding served with coconut cream and vanilla gelato, and Pisang Rai, a battered fresh banana with rice flour, grated coconut, and palm sugar syrup, paired with vanilla gelato.</p>
<p style=”text-align: center;”><img class=”alignnone wp-image-254194 size-medium” src=”https://businessnewsthisweek.com/wp-content/uploads/2024/09/Balinese-Food-Festival-Conrad-Bengaluru-212×300.jpeg” alt=”” width=”212″ height=”300″ /></p>

<blockquote>
<p style=”font-weight: 400;”>”<strong><em>We are elated to associate with the talented chefs from Conrad Bali, showcasing the vibrant flavors of Balinese cuisine. This partnership opens the door for our guests to explore new cultures and culinary traditions, enhancing their overall dining experience at Conrad Bengaluru</em></strong>,” said Mr. Digvijay Singh, General Manager, Conrad Bengaluru.</p>
<p style=”font-weight: 400;”>Executive Chef Mohammed Eliyaz added, “<strong><em>This Balinese Food Festival underscores our commitment to providing unforgettable dining experiences that celebrate culinary diversity. The collaboration between our talented chefs will create an extraordinary event filled with delectable flavors.”</em></strong></p>
</blockquote>
<p style=”font-weight: 400; text-align: justify;”><strong><em> </em></strong>Embark on a culinary adventure at Conrad Bengaluru that promises to transport you to the heart of Bali. Taking place from the 28^th of September to 8^th of October 2024 at MIKUSU, Conrad Bengaluru. Ala Carte and set course menu starting from INR 3250 plus taxes.</p>
<p style=”font-weight: 400; text-align: justify;”>Savor the unique tastes and rich culinary heritage of Bali like never before, with a vibrant tapestry of flavours and aromas that transports you straight to the heart of this tropical paradise.</p>

New Delhi, Sept 27th, 2024: NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd, entered into a Joint Venture Agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. (MAHAPREIT) on 25th September 2024.

The JVA was signed by Shri Rajiv Gupta, CEO (NGEL), and Shri Bipin Shrimali, MD (MAHAPREIT) in Mumbai in the presence of other senior officials from NGEL and MAHAPREIT.

The JV Company will undertake the development of 10 GW of Renewable Energy Parks and Projects in Maharashtra or any other state of India.

Powered by 360 ONE | Driven by Infinity Cars

September 27, 2024, Mumbai, India –

On September 25, 2024, the Women Leadership Circle (WLC), proudly powered by 360 ONE, held a one-of-a-kind event at The Cube, Jio World Convention Centre, BKC. This enlightening and transformative evening was titled “Leadership Lessons from the Bhagavad Gita.” WLC is committed to creating meaningful and thought-provoking platforms where women leaders can engage with timeless wisdom and practical leadership strategies that resonate in today’s dynamic environment.

Driven by Infinity Cars, this gathering attracted a distinguished audience of entrepreneurs, corporate leaders, and visionaries. The event showcased WLC’s dedication to fostering leadership growth by drawing on the teachings of the Bhagavad Gita, a text offering profound insights into self-awareness, resilience, and ethical decision-making—essential qualities for women navigating the complexities of leadership.

At the heart of the event was the keynote speaker, Devdutt Pattanaik, an acclaimed mythologist, author, and thought leader, who brought the timeless teachings of the Bhagavad Gita to life. With his signature storytelling style and deep insights, Mr. Pattanaik connected the principles of the ancient scripture to the demands of contemporary leadership, emphasizing themes such as ethical decision-making, resilience, and the power of self-awareness. His engaging presentation left a lasting impact, reminding everyone of the relevance of these ancient lessons in navigating today’s complex business landscape.

Anupama Sharma, Executive Director of 360 ONE, shared her thoughts, saying, “It was an honor to partner with the Women Leadership Circle for this extraordinary event. At 360 ONE, we are deeply committed to supporting platforms that nurture leadership, and WLC’s vision of empowering women through knowledge and community resonates perfectly with our own values. The teachings from the Bhagavad Gita offer invaluable guidance for today’s leaders, and we are proud to be part of this transformative journey.”

Jaya Mehrotra, Founder of WLC, expressed her enthusiasm for the organization’s vision, stating, “This event marks a new chapter for Women Leadership Circle, and we are thrilled to begin this journey by exploring the profound teachings of the Bhagavad Gita. These lessons have the power to transform not only how we lead in business but also how we approach life with purpose and integrity.”

The evening was graced by a host of distinguished guests, including prominent figures from the fields of business, media, and thought leadership. Attendees such as Anusuya Roy, Manjula Rao, Kiran Desai, Sarina Menezes, Meghna Shah, Praachi Raaniwala, Aparna Badlani, Nisha Khiani, Praachi Kapase, and Anita Bhogle had the unique opportunity to connect with like-minded individuals and exchange ideas during an elegant networking dinner following the session.

As part of WLC’s mission to inspire and nurture future women leaders, this event is just the beginning of many enriching experiences to come. WLC aims to build a community that draws strength from both timeless wisdom and modern leadership strategies, empowering women to lead with authenticity and vision.

The event was further enhanced by the support of gifting partners Kolorr and Sahdev, adding a special touch to an already memorable evening.

With the success of this inaugural event, the Women Leadership Circle, now powered by 360 ONE, looks forward to hosting more thought-provoking gatherings, creating an ecosystem where women leaders can thrive and lead with confidence.

New Delhi, September      Sept 27, 2024 – BUSINESSNEXT, a global leader in composable enterprise solutions for the financial services sector, today announced a      partnership with MongoDB                to accelerate autonomous operations powered with specialized predictive and generative AI for banking and insurance. Headquartered in New York, MongoDB empowers innovators to create, transform, and disrupt industries with the power of software and data. The collaboration between BUSINESSNEXT and MongoDB will empower banking, insurance, and financial institutions with the tools and technology needed to deliver exceptional customer experiences and drive digital transformation.

By combining BUSINESSNEXT’s deep expertise in financial services with MongoDB’s flexible,      scalable database platform that has industry-leading encryption, access controls, and data protection protocols, the partnership will deliver innovative solutions that address the evolving needs of the industry. BUSINESSNEXT’s suite of solutions, include CRMNEXT, CUSTOMERNEXT, Open Communication Platform and industry-centric modules like digital lending platform, claims management and credit assessment management applications.

MongoDB’s document-oriented data model, with its flexible schema, nicely complements BUSINESSNEXT’s AI-driven capabilities. The partnership will enable banks to harness the power of their data to create personalized customer journeys, optimize lending processes, and to make data-driven decisions.

“We are excited to partner with MongoDB to deliver cutting-edge solutions to our financial services clients,” said Sushil Tyagi, Executive Director at BUSINESSNEXT. “MongoDB’s industry-leading data protection protocols, and our ability to handle complex data structures and scale effortlessly aligns with our vision of providing a modern, agile platform for banks.”

“Independent software vendors are an integral part of the enterprise software stack in India, and BUSINESSNEXT is a great example of the kind of ISV we want to work with,” said Sachin Chawla, Vice President, India and South Asia at MongoDB. “This partnership will help a large number of financial services organizations to accelerate their modernization initiatives and use AI to drive differentiation.”

Key benefits of the partnership include:

• Autonomous Banking operations: The composable stack will enable financial services to meet the dynamic needs of AI driven processes and workflows
• Enhanced customer experiences: Leveraging specialized and hyper-scalable AI-capabilities to deliver highly personalized customer interactions and journeys.
• Accelerated lending processes: The combination of BUSINESSNEXT’s smart credit engines and MongoDB’s flexible data platform will deliver smart automation across lending operations with improved efficiency.
• Improved operational efficiency: By automating back-office processes and leveraging MongoDB’s scalability, banks can reduce costs and enhance productivity.
• Strengthened risk management: MongoDB’s robust and scalable data management capabilities will support BUSINESSNEXT’s risk rating and credit approval models, enabling banks to mitigate frauds, cyber security threats and continuous risk monitoring capabilities.

This partnership marks a significant milestone for both BUSINESSNEXT and MongoDB, and it is expected to drive significant value for financial institutions worldwide.