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Mumbai, 31th January, 2024: NTPC Limited, India’s largest integrated power utility, today signed a non-binding MoU with Numaligarh Refinery Limited (NRL), a subsidiary of Oil India Ltd engaged in the business of Refining and Marketing of petroleum products, for partnership opportunities in the proposed bamboo-based Bio-Refinery at NTPC Bongaigaon and other Green projects.

The two CPSEs, through this MoU, intend to enhance their footprint in green chemicals and foray into sustainable solutions to advance the efforts towards achieving the nation’s Net-Zero targets and be partner in development of North-East Region.

The MoU was signed in the august presence of Shri Gurdeep Singh, CMD NTPC, Dr Ranjit Rath, CMD OIL & Chairman NRL, and Shri Bhaskar Jyoti Phukan, MD NRL.

NTPC is committed to achieve 60 GW of Renewable Energy capacity by 2032 and be a major player in Green Hydrogen and Energy Storage domain. The company is taking up several initiatives towards decarbonization such as Green Hydrogen, Biofuels, Carbon Capture & Hydrogen Mobility.

Bengaluru, 31 January 2024: In the spirit of festive giving, Magic Bus India Foundation announced that Marvell Technology, Inc. showcased its commitment to skill development and empowerment through – an Employee Volunteering Programme (EVP) in Bengaluru. Marvell donated 85 laptops to Magic Bus, which will be utilised for day-to-day functions and programme training across India. Marvell, a leader in data infrastructure semiconductor solutions, recognises the importance of bridging the digital divide, aiming to empower the dedicated Magic Bus staff to transform the lives of underserved youth through skill development.

As part of the Employee Volunteering Programme (EVP), Marvell employees actively engaged with Magic Bus India Foundations’ youths, providing valuable assistance in building resumes, offering tips on cracking interviews, and conducting mentoring sessions. The youths reciprocated by sharing their experiences and expressing how this exercise strengthens their skills. These collaborative efforts showcase the holistic approach Marvell takes in supporting skill development endeavours of Magic Bus India Foundation.

Arun Nalavadi, Executive Director – Sustainability and Livelihoods, Magic Bus India Foundation, said, “We are deeply touched by Marvell’s support as we forge ahead in our mission to catalyse transformative change in the lives of India’s youth. This partnership has been instrumental in propelling the youths we serve from mere efficiency to efficacy. The synergy between our organisations continues to redefine the possibilities for underprivileged youth, fostering a journey from potential to impactful outcomes.”

Mark Casper, Chief Legal Officer, and Executive Vice President, Marvell, said, “We are pleased that Marvell is continuing its long-standing partnership with Magic Bus which falls squarely within Marvell’s philanthropy and social responsibilities pillars. Our donation of laptops will help empower the next generation through technology and education, shaping a brighter future.”

Bharathi Kanuj, Company Secretary and India CSR Lead, Marvell, said “This initiative is reflective of our commitment to advancing education and narrowing the digital divide, it underscores the company’s dedication to making a positive impact in the lives of people and communities.”

The ‘Connect With Work’ programme, designed to impart employment skills such as communication, basic digital and financial literacy, problem-solving, goal setting and time management, and interview preparation, has demonstrated a profound impact. It successfully placed nearly 3000 youths from marginalized communities in dignified jobs across Bengaluru, Chennai, and Hyderabad. This achievement underscores the programme’s efficacy in creating substantial livelihood opportunities with renowned companies, including TeamLease Services Ltd, ICICI Prudential Life Insurance, Wipro Ltd, Quess Corp, among others.

 Mumbai, India, January 31, 2024: Glenmark Pharmaceuticals Ltd. (Glenmark), a leading, research-driven, global pharmaceutical company, and Ichnos Sciences Inc. (Ichnos), its global fully integrated, clinical-stage biotech subsidiary, today announced the launch of their alliance – Ichnos Glenmark Innovation – to accelerate new drug discovery in cancer treatment. This alliance combines Glenmark’sresearch and development proficienciesin small molecules with those of Ichnos in novel biologics to continue developing cutting-edge therapy solutions that treat hematological malignancies and solid tumors.

 The newly formed IGI features a robust pipeline of three innovative oncology molecules targeting multiple myeloma, acute myeloid leukemia and solid tumors currently undergoing clinical trials. Two of these molecules have received orphan drug designation from the U.S. FDA. Additionally IGI has two autoimmune disease assets that have been out licensed to leading companies.

 Harnessing the combined proficiency of over 150 scientists, IGI will leverage the capabilities of its three global centers of innovation. These comprise the Ichnos’ headquarters in New York City, NY, USA, which is focused on clinical development; the biologics research center in Lausanne, Switzerland, and Glenmark’s small molecule
research center at Mahape in Mumbai, India.

 “We are proud to announce the Ichnos Glenmark Innovation alliance, which brings together the legacy of Glenmark and passion of Ichnos to accelerate the search for curing cancer. Innovation is an integral part of our organization’s fabric and through IGI, we are confident of getting closer to our quest to develop a novel cancer drug for the world. Additionally, this will also enhance shareholder value by optimizing the cost of
development.” remarked Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd.

 Cyril Konto, President and CEO, Ichnos Glenmark Innovation, said, “Ichnos Glenmark Innovation is a collaborative venture backed by a strong, collective pipeline of novel multispecifics and small molecules. Supported by an experienced leadership and comprising a team that ardently believes in challenging the frontiers of science, IGI seeks to accelerate drug development by combining technologies, expertise, and forces while leveraging Glenmark’s footprint in India. We look forward to joining hands with other like-minded entities, including biotech companies and academia.”

As the Founder & CEO of PaySprint Private Limited, with a deep-rooted commitment to driving innovation and fostering financial inclusion, my expectations for the India Budget 2024 revolve around key measures that can propel the fintech sector forward. With over two decades of experience as a Senior Techno-Functional professional, I bring a unique perspective, anticipating policies that can support the industry’s growth and impact.

Now, as we brace ourselves for the upcoming elections, the Union Finance Minister is consciously driven to present the Union budget 2024-25, with it being a prerequisite to anticipated financial planning and fueling economic growth.

SMEs play a crucial role in the Indian Economy and are considered the driving force behind socio-economic development in India. Currently, there are more than 90 million SMEs in India, which have generated over 110 million job opportunities and contribute more than 30% to India’s GDP, as stated by Niti Ayog.

However, Despite making progress and advancing toward financial inclusion, SMEs’ potential is yet to be chased optimally. For instance, in many cases, SMEs are not bankable, due to lengthy/ complex paperwork, lower capitalization, longer duration to get credit & no-online modes for tracking of loan applications. Making these challenges one’s superpower, Business Banking solutions by SMEs should be made more accessible and convenient, by integrating services under one unified platform, making it a one-stop shop offering financial services or non-financial services, encompassing insurance, payment of taxes, utility bills, and e-ticketing.

With it being a catalyst, SMEs have found themselves non-bankable due to no credit rating as well as disturbed cash flows. The issues mainly breed around low technology innovation, inadequate product as well as less security or no collateral. To its rescue, there should be solutions such as customer innovation or reduced complexities.

By addressing these challenges and providing comprehensive business banking solutions, SMEs can unlock their full potential and contribute even more significantly to the Indian economy.

I anticipate that Contextual finance should be at the forefront, providing personalised experiences to customers’ businesses on a larger scale. Additionally, this approach would allow these platforms to use data to improve financial access and reduce costs. It is by introducing banking solutions in a way that would streamline SME operations with utmost efficiency. It is the introduction of such steps, which can propel this sector forward and help SMEs move away from the tag of underserved.

Picture this, remote account openings for businesses, effortlessly user-friendly digital banking experiences, seamless integrations that connect all aspects of our financial lives, and bespoke financial solutions tailored to meet requirements of each business.

As per the budget of 2024, we look forward to a push to opening of Current Account for SME and thereby, leading to tech solution/platform of Account Aggregator of Current Account’s along with all transactions in a single platform, thereby contributing to a better user experience, effective fund management and the ability to attract capital/funds.

Continuing the discussion related to business banking, we anticipate a breakthrough in technology, with the government introducing provisions to support SMEs in supporting the adoption of real-time banking with quick payments.

In light of this, it is envisaged that staying ahead in technology and being backed by supportive policies is not only a requirement but the need of the hour.

Additionally, the banking landscape must undergo development, with proposed investments for SMEs regarding payments, digital reforms, and small-finance banks, as underpinned by many. Also, Awareness was found lacking about government programs, implemented through banks for the development of the SME sector. Therefore, we expect intervention in this regard from the Government.

As we approach the unveiling of the budget on the 1st of February, the fintech community looks forward to policy initiatives that align with these expectations. A budget that recognizes fintech’s pivotal role in shaping financial services’ future and provides the necessary support will undoubtedly contribute to India’s more inclusive, technologically advanced, and thriving fintech ecosystem.

· Jubilant Pharma Limited, Singapore (‘JPL’), a wholly owned subsidiary, in Nov’2020 invested USD 25 Million in Sofie Biosciences Inc., USA (‘Sofie’) and currently holds 25.8% stake.

· Sofie is engaged in developing and delivering molecular diagnostics and therapeutics (theranostics). It has radiopharmaceutical production and distribution network, mature contract manufacturing services, and high-value theranostic intellectual property.

· Sofie has now entered into a definitive merger agreement with certain private equity funds managed by [Trilantic Capital Partners, North America (‘Trilantic North America’)], a US private equity firm. The merger transaction is expected to close by 30th June 2024, subject to customary conditions and regulatory approvals.

· Consequently, JPL plans to sell its entire 25.8% equity stake in Sofie for aggregate proceeds of about USD 139.43 Million, including certain preferred returns. Of this, USD 113.63 Million (subject to certain customary adjustments at closing) is expected to be received upon completion of the merger while receipt of balance sum of USD 25.8 Million is contingent upon achievement of certain future milestones. JPL plans to use these proceeds to reduce leverage and for capex and other corporate purposes.

New Delhi, January 2024 – Novotel New Delhi Aerocity, is poised to underscore its dedication to sustainability with the introduction of an Electric Vehicle (EV) charging station in collaboration with Charge Zone. This strategic step aligns with the hotel’s broader vision of incorporating eco-friendly practices into its operations, further solidifying its position as a frontrunner in sustainable hospitality.

 Conveniently situated near the porch, the EV charging station at Novotel New Delhi Aerocity offers guests an accessible and efficient way to charge their electric vehicles while enjoying various amenities. This service is available to guests staying at both Novotel and Pullman, reinforcing the hotel’s dedication to providing sustainable solutions. Demonstrating a long-standing pledge to environmental responsibility, the establishment
has implemented various eco-friendly initiatives on its premises.

 Within its array of sustainable initiatives, the property boasts a 5500 sq ft herb garden dedicated to organic farming, an operational glass bottling plant that further reinforces the establishment’s sustainable practices. This commitment extends to the reduction of single-use plastics in the hotel, aligning with brand-wide initiatives to eliminate single-use plastic by 2050. Significantly, the hotel has substituted in-room amenities, plastic straws,
and stirrers with sustainable alternatives. The incorporation of Fairtrade-certified and labelled products, like Kimirica and Oriental Lotus amenities, emphasises the establishment’s pledge to ethical and environmentally responsible practices.

 “We are happy to announce the launch of the EV charging station at Novotel New Delhi Aerocity. It not only symbolises our dedication but also provides a practical solution for our discerning guests who increasingly prioritise eco-friendly options,” expressed Mr. Vineet Mishra, Cluster General Manager, Pullman & Novotel New Delhi Aerocity.

 Novotel New Delhi Aerocity seamlessly integrates environmental consciousness with unparalleled comfort. The EV charging station’s launch is a pivotal step in the hotel’s journey towards a greener future, setting new standards in responsible hospitality.

Bengaluru (India), January 31th, 2024: In a significant development, HirePro, an AI-powered recruitment automation firm, has announced a profound brand promise, centred around the theme of ‘Fearless Hiring’. By delivering Fearless Hiring, HirePro aims to redefine the landscape of talent acquisition, ensuring operational efficiency and instilling a profound sense of confidence and fearlessness in the hiring decisions of recruiters. The brand promise is built on the pillars of AI-powered cutting-edge technology, profound expertise, and impeccable service.

With a history of making hiring processes frictionless, the company takes a bold step forward with a commitment to Fearless Hiring, promising both functional and emotional benefits to its clients. The strategic repositioning establishes how HirePro converts the stress of recruiting large numbers into the joy of hiring and makes the unpredictable world of hiring predictable. The company aims to leverage the power of new-age innovation and next-gen intelligence alongside two decades of transformative recruitment experience to unleash a brave new era of high-volume hiring. Its AI-powered platform expedites various aspects of the hiring process, emphasizing automation to streamline sourcing, screening, assessments, interviews, and onboarding.

Following the announcement, Mr. S Pasupathi, Chief Operating Officer, HirePro elaborated, “A year ago, amid post-pandemic uncertainties, I sat across from a Fortune 500 Talent Acquisition Head grappling with the stress of a substantial hiring mandate. As our conversation unfolded against this looming backdrop of uncertainties and challenges, revealing HirePro’s offerings and track record, relief and optimism replaced his initial anxiety.

This scenario wasn’t unique; leaders often oscillate between excitement and fear in challenging times. The realisation dawned that, to take on challenges, one needs more than technology – a partner to inspire belief, instil confidence, and embody fearlessness to pursue any and every audacious goal. This sparked ‘Fearless Hiring,’ a commitment to be unyielding in the pursuit of the best talent, powered by cutting-edge technology, deep expertise, and impeccable service to unlock the joy of achievement for our clientele.”

Through this repositioning, HirePro is set to redefine the hiring landscape with advanced AI-powered innovative solutions and tailored service. It includes a website overhaul and logo updates designed to enhance the user experience. These visual changes are in line with the theme of Fearless Hiring, ensuring an immaculate experience for customers.

This strategic repositioning is a pivotal moment in HirePro’s journey, symbolising a continued commitment to revolutionising the recruitment industry. It aims to not only alleviate the stress associated with large-scale hiring but also foster streamlined hiring processes and costs, and sustainable growth for businesses.

New Delhi 31st January 2024 – Mrs. Namrata Singh, emerges victorious as the Golden Face of South India 2024, amidst a dazzling evening celebrating beauty, talent, and a noble cause. The prestigious Golden Face of South India 2024 event, held recently, marked not only a celebration of beauty but also a profound commitment to a noble cause – raising awareness about skin donation for acid attack victims. The event was orchestrated through the collaborative efforts of visionaries Gopinath Ravi and Saravanan from Wyndow Entertainment, alongside Hemanth, the Founder & CEO of ACTC Studio.

Distinguished chief guests Amy Jackson and Shreya Saran graced the event. Also, the event was graced by AL Vijay, the director and chairman of Wyndow Entertainments along with Paravati Nayar, the brand ambassador of Wyndow Entertainments.

The event drew over 1000 registrations from Tamil Nadu, Karnataka, Telangana, and Kerala. Beyond its glitz and glamour, GFSI stands out as a noteworthy event with a commendable mission of aiding acid attack victims.

Mrs. Namrata Singh, who is also a diet counselor with her elegance and charisma, stood out among the talented participants, reflecting the essence of the pageant’s vision. Her journey, marked by dedication and passion, underscores her commitment not only to the world of beauty but also to the advocacy for social causes.

Expressing her gratitude, Mrs. Namrata Singh shared, “I am deeply honored and humbled to be bestowed with the prestigious title of Golden Face of South India 2024. Participating in events like these is not just about showcasing outer beauty but also about contributing to noble causes that impact lives positively.”

GFSI, introduced by Wyndow Entertainments, serves as a platform to unearth and celebrate budding talent while championing meaningful causes that resonate with societal welfare. The evening was a vibrant tapestry of talent, glamour, and advocacy, symbolizing the spirit of inclusivity and empowerment.

Through initiatives like GFSI, the beauty pageant fraternity continues to redefine beauty standards, fostering a culture of acceptance and compassion.

As Mrs. Namrata Singh embarks on this remarkable journey as the Golden Face of South India 2024, her presence promises to inspire generations, resonating with the values of beauty with purpose and compassion.

New Delhi, 30 January 2024: PNB MetLife, one of India’s leading life insurers, has launched 10 new branches across India. This strategic expansion reflects the company’s continuing commitment to enhance customer service for its growing clientele.

With a network of 149 branches, PNB MetLife is able to offer customer-centric products and solutions customers across the country. The convenient and seamless access to the full spectrum of services at its branches ensure an enhanced and personalized experience for all customers.

The 10 new branches are set across India in key markets for PNB MetLife: New Delhi, Ujjain, Ayodhya, Betul, Bhadrak, Ongole, Kota, Perinthalmanna, Kanpur and Bhubaneshwar.

Commenting on the launch, Sameer Bansal, Chief Distribution Officer, PNB MetLife said:

“Opening 10 new branches in key cities across India is a pivotal milestone for PNB MetLife and marks a continuing investment in delivering services to our customers, wherever they reside. This expansion, complemented by our extensive network of banca partner branches, brings our total access points across to over 18,000 in the country.”

He additionally pointed out “Supplementing our physical presence in the country are our digital tools and our active outreach to remote areas, which means that customers can file claims, check on their policies, and do much more. We are proud to fully embrace “phygital” in delivering the type of interaction our customers want and need, wherever and however they choose.”

The launch of these new branches is in line with PNB MetLife’s strategy to better serve the needs of the evolving customer base across the country by giving them the choice and ease to be connected with the organization.

The Country’s largest power generator – NTPC Ltd., with a present group installed capacity of almost 74 GW, declared unaudited financial results for third Quarter and Nine Months ending 31 December 2023.

NTPC Group generated 315 Billion Units in 9M FY24 as compared to 295 Billion Units in 9MFY23. NTPC’s standalone gross generation in 9MFY24 is 268 Billion Units as compared to 255 Billion Units in the corresponding previous period.

NTPC Coal stations achieved a Plant Load Factor of 76.40% as against the National Average of 68.51 % during 9M FY24.

On standalone basis, the Total Income of NTPC for 9M FY24 is ₹ 1,21,486 crore as against the corresponding previous period total income of ₹ 1,24,685 crore. Profit After Tax (PAT) for 9MFY24 is ₹ 12,523 crore as against ₹ 11,524 crore in the corresponding previous period, registering an increase of 8.67%.

On consolidated basis, the Total Income of the group for 9M FY24 is ₹ 1,32,349 crore as against the corresponding previous period total income of ₹ 1,33,231 crore. Profit After Tax (PAT) of the group for 9MFY24 is ₹ 14,842 crore as against ₹ 12,250 crore in the corresponding previous period, registering an increase of 21.16%.

The Board of Directors has approved Second interim dividend for FY24 @ 22.5% of paid-up share capital i.e. ₹2.25 per equity share of face value of ₹10/- each.