Kinder Trails NEP Kit Unveiled by Honorable Minister Ramdas Athawale, Championing Early Childhood Education

Kinder Trails NEP Kit

Mumbai, 06 February 2024: Minister of State for Social Justice and Empowerment of India, Shri Ramdas Athawale, unveiled the Kinder Trails NEP kit from Target Publications Pvt. Ltd. at a ceremony in Delhi today. This series caters to children in playgroup, nursery, junior kindergarten, and senior kindergarten (ages 2-6), aligning with the National Education Policy (NEP) 2020.

Shri Athawale lauded Target Publications for their timely initiative, commending their efforts to provide NEP-aligned resources for young learners as the Maharashtra government prepares to implement the new curriculum for pre-primary section.

Target’s Commitment to Quality Early Childhood Education:

“We are deeply grateful to Shri Ramdas Athawale for unveiling our NEP kit,” expressed Mr. Agasti Lawand, Executive Director, New Business Development, Target Publications. “Our core mission has always been to deliver quality education to young children. This NEP kit offers an integrated approach with synchronized curriculum, reflecting our philosophy of ‘child in mind and teacher at heart.'”

Key Features of Kinder Trails NEP Kit:

  • Teacher-friendly: Designed for ease of use with well-organized units and aligned activities.
  • Engaging Content: Features age-appropriate print exposure, activities, rhymes, songs, and fun-filled numeracy lessons.
  • Comprehensive Learning: Covers essential concepts with practice books for reinforcement.
  • Kinder Trails paves the way for a joyful and enriching learning experience for young children, equipping them with the foundation they need to thrive in the NEP framework.

Artisan Advancement: Jammu and Kashmir Initiates PM Vishwakarma Scheme

PM Vishwakarma Scheme

In a significant stride towards empowering craftsmen, Jammu and Kashmir has emerged as the pioneering Union Territory to implement the PM Vishwakarma Yojana. The scheme, inaugurated on Tuesday, January 2, 2024, at the Industrial Training Institute (ITI) in Shopian district, aims to bolster the talent of the artisan community and foster their advancement.

KesarTV.com reported that this initiative marks a crucial milestone in the region’s developmental journey. Advisor to the Lieutenant Governor, RR Bhatnagar, and Atul Kumar Tiwari, Secretary of Central Skill Development and Entrepreneurship, jointly inaugurated the scheme.

The scheme, envisioned to offer accreditation, training, tool kits, certification, marketing support, and easy credit facilities, garnered praise as a pivotal step towards self-employment aligned with industrial demands. It is set to expand across other districts following its successful launch in Jammu and Kashmir.

Highlighting the significance of the scheme, Bhatnagar expressed pride in Jammu and Kashmir being at the forefront of its implementation. He underscored the Central Government’s support in realizing the vision of empowering artisans and fostering their economic independence.

The PM Vishwakarma Yojana, initiated by the central government in September the previous year, offers artisans 5 to 7 days of basic training and 15 days or more of advanced training, accompanied by certification and ID cards. Participants also receive daily stipends and modern toolkits worth Rs. 15,000.

The launch of the scheme echoes Prime Minister Narendra Modi’s commitment to the holistic development of Jammu and Kashmir, emphasizing its inclusion in the priority list for developmental initiatives. The implementation of the Vishwakarma scheme underscores a strong message of progress and empowerment for the region

4th day of the Samsung Galaxy Tab S9 Series Jaipur Literature Festival 2024

The fourth day of the Samsung Galaxy Tab S9 Series Jaipur Literature Festival 2024 saw some powerhouse sessions and enthusiastic audiences flocking between packed venues. It began with a musical performance by Dr. Kamala Shankar, inventor of the Classical Slide Guitar. Her soulful performance complemented the rainy Festival Sunday morning.

At the Festival, Teamwork Arts and their long-time partners British Council have entered a Memorandum of Understanding to bolster artistic collaboration and networks between India and the UK in alignment with the India-UK 2030 Roadmap. This partnership seeks to facilitate knowledge exchange, connect artists and cultures, and also expand their respective event networks globally. As knowledge partners, Teamwork Arts and the British Council also aim to promote diversity in public discourse and foster mutual understanding.

The official dates of the second edition of JLF Spain Valladolid were announced during the Samsung Galaxy Tab S9 Series Jaipur Literature Festival 2024. The Festival will take place from 30th May to 3rd June, 2024. Following the announcement, Deputy Minister for Culture and Commissioner for Spanish Language, Mar Sancho Sanz addressed the audience.

Vani Prakashan Books and Teamwork Arts announced the winner of this year’s Vani Foundation Distinguished Translator Awardee – Òscar Pujol – for translating from Sanskrit to Spanish. Pujol received his doctorate in Sanskrit from Banaras Hindu University and has had a life-long engagement with India. He has been the director of the Cervantes Institutes of New Delhi and Rio de Janeiro, and director of the educational programmes of Casa Asia. He is the author and translator of a number of books.

Some of today’s highlight sessions were:

Common Yet Uncommon

Speakers: Sudha Murty in conversation with Meru Gokhale

Presented by Rajasthan Patrika

The session began with educator and bestselling author Sudha Murty speaking fondly about her childhood which was spent in her ancestral home as a curious child wanting to know about all the happenings around her. She said, “Somehow I want to know more about people, where they come from, because for me a person is not just a person, a person is a book and I am reading a book.” Murty introduced her book Common Yet Uncommon, written from a naïve child’s perspective, which explores the different flaws and issues with the characters within the book.

Time Shelter

Speakers: Georgi Gospodinov in conversation with Nandini Nair

2023 International Booker Prize-winning author, Georgi Gospodinov, spoke about his book Time Shelter (in which a “clinic for the past,” an institution that offers an inspired treatment for Alzheimer’s sufferers and has floors that reproduce a past decade in minute detail, allowing patients to transport themselves back in time to unlock what is left of their fading memories), and its relevance in today’s political climate. Gospodinov remarked, “The problem is when someone tries to remake the happy memories of the past of the whole nation. That is very dangerous. Past is a personal feeling… usually this past is an invented past, it is very dangerous.” Gospodinov also fondly reminisced about his time growing up with his grandparents, who instilled in him a sense of creativity and imagination, “If you can find the sublime in the everyday things, in the banal things, you are safe.”

Hollywood to Himalayas

Speakers: Sadhvi Bhagawati Saraswati in conversation with Puneeta Roy

The session began with Sadhvi Bhagwati Saraswati recalling her childhood and early 20s in her hometown of Beverly Hills, California. She further spoke about the essence of something being wrong within her, the feeling of lacking that drove her towards the life of a Sadhvi. She discussed the motivation behind her book as a sewa to humankind and the major theme in her memoir Hollywood to Himalayas is forgiveness for oneself and others. The session ended with a brief guided meditation session by Bhagwati Saraswati.

The Golden Mole: And Other Living Treasure

Speakers: Katherine Rundell in conversation with Yuvan Aves

This session was centred around celebrated writer Katherine Rundell’s work, The Golden Mole: And Other Living Treasure, in which she spoke about the other intelligent creatures of the world. In reference to that, she said, “The greatest lie that humanity has ever told is that the world is ours.” Her aim was to write something that would express the astonishing intelligence of the different species on earth. From pandas to elephants to rhinos, she introduced the audience to the numerous marvels that go unnoticed within nature. The session ended with her marvelling about the multitudes of things the world is yet to discover about other living creatures.

Empire of Pain

Speakers: Patrick Radden Keefe in conversation with Pragya Tiwari

Presented by OneIndia

The opioid public health crisis which crippled the United States of America in the 1990s inspired Patrick Radden Keefe’s Baillie Gifford Prize-winning book Empire of Pain: The Secret History of the Sackler Dynasty. He took the audience through the horrors of soft corruption and private money, and the massive impact they can have on any industry including pharmaceuticals. Referring to the crisis as a “family saga”, Keefe said, “… There was this one family that had really helped create this crisis which had gone on to kill hundreds of thousands of people. I am always interested in ethical questions and stories about families and so that was what drew me in”.

First Edition: “Audacious Hope: How to Save a Democracy” By Indrajit Roy

Speakers: Indrajit Roy and Shashi Tharoor in conversation with Nidhi Razdan

Introducing academic and writer, Indrajit Roy’s new book Audacious Hope: How to Save a Democracy, Member of Parliament and author, Shashi Tharoor, and Roy engaged in a charged conversation about the current state of Indian democracy and their hopes for the future. When talking about the role of dissent and protests in today’s political spaces, Roy said, “It’s better to romanticise protests than to romanticise the governments.” Stressing on the importance of the institutions of our country, Tharoor said, “Elections are not enough. Institutions give power to our democracy… whether it is new institutions or old institutions.”

How Prime Ministers Decide?

Speakers: Neerja Chowdhury in conversation with Mandira Nayar

Award-winning journalist and seasoned political commentator Neerja Chowdhury’s recent book How Prime Ministers Decide delves into the lives and decisions of six prominent Prime Ministers of Independent India. Sympathising with the lives of leaders, Chowdhury said, “Prime Ministers are lonely, Prime Ministers are vulnerable, Prime Ministers are superstitious, Prime Ministers are subject to all kinds of pressure.”

The Earth Transformed: An Untold History

Speakers: Peter Frankopan in conversation with Yuvan Aves

Historian and writer Peter Frankopan discussed his book, The Earth Transformed: An Untold History, which describes how climate change has dramatically changed the world across the time. Frankopan expressed his concerns about the depletion of nature, loss of biodiversity, and lack of awareness about geological formation, despite it playing a fundamental role in history and civilisations. He spoke about the idea of history being of a certain kind, one that only includes stories of humans but not the natural factors that influence their lives, “We all go through thinking about the past without ever considering weather conditions…”.

Firebird

Speakers: Perumal Murugan and Kannan Sundaram in conversation with Manasi Subramaniam

2023 JCB Prize for Literature-winner Perumal Murugan was in conversation with publisher Kannan Sundaram and Manasi Subramaniam. Fire bird is based on the author’s life experience of displacement and movement. Murugan spoke about the close relationship he shared with his mother which helped him get an insight into female life, and helped him reinforce that women play a crucial role in his books. Sundaram shared that Murugan’s works are translated from Tamil to English, while the process of translating the entire work goes relatively smoothly, translating the titles is always a challenge as the titles are rooted into local Tamil cultural contexts.

Irrfan: A Life in Movies

Speakers: Shubhra Gupta, Sutapa Sikdar and Vishal Bhardwaj in conversation with Sathya Saran

Actor Irrfan Khan’s transformative body of work took the Indian cinema by storm. From his National School of Drama days to his nearly decade-long stint in television and his work in path-breaking movies such as The Namesake, Life of Pi, Maqbool and Hindi Medium, Irrfan’s special quality of stardom has managed to touch all his viewers. Film critic and writer Shubhra Gupta’s, Irrfan: A Life in Movies, is a collection of conversations with his contemporaries and their memories of their time with the legend. In conversation with his beloved wife and theatre actor Sutapa Sikdar and filmmaker Vishal Bhardwaj, they dived into the art, craft and life of Irrfan.

February 5 will mark the final day of the grand literary marathon and will feature Sharmistha Mukherjee, former President Pranab Mukherjee’s daughter and classical dancer & choreographer, academics Arathi Prasad, Amia Srinivasan, celebrity chef Asma Khan, well-known athlete and author Sohini Chattopadhyay, Harvard professor Vincent Brown, former diplomat and author John Zubrzycki, art historian & JNU professor Naman Ahuja, journalist Vir Sanghvi and Katie Kitamura, author of Intimacies, among others. The famed closing debate of the 2024 edition of the Festival will be on whether free speech will survive surveillance technology and privacy invasions.

Empowering Dreams: A journey of innovation and entrepreneurship byYoung Mind

Bhubaneswar: In the heart of Bhubaneswar, where tradition and modernity intertwine seamlessly, a silent revolution is underway in Odisha, with its deep cultural roots, is emerging as a vibrant hotspot for young visionaries and entrepreneurs, all thanks to dynamic initiatives – the Odisha Startup Yatra and Startup Express.

 These groundbreaking programs have become the driving force propelling Odisha’s burgeoning startup ecosystem, fostering a culture of innovation among the bright minds within school and college walls. Aimed at cultivating an entrepreneurial spirit, these initiatives have been instrumental in harnessing the creative energies of the state’s youth.

STARTUP YATRA

 In the recently concluded edition, the enthusiasm was palpable, with over 36,000 students from diverse educational institutions across Odisha actively participating. Workshops, mentorship sessions, and competitions served as compasses guiding these young minds through the intricate journey of transforming ideas into viable startups.

 The impact of these initiatives is unmistakable, with over 4,400 innovative ideas blossoming from the fertile minds of Odisha’s youth. These ideas span a spectrum of sectors, showcasing the diversity of creativity within the state.

 Among the standout concepts, the Stereovision Camera, Virtual Reality Sets, Liquid Biofertilizer, Millet-based Ready-to-Eat Products, Press Fit Fuse, AI-Based Agro-Bots for Cotton Farms, Cornstarch-Based Bioplastics in the Pharmaceutical Industry, Online Doorstep Repair Services, Long- Lasting Billboards, Handwriting Recognizer, Answer Finder, an App to Avoid Junk and Sugar, Nerve Finder and Innovative Garbage Management Solutions shine as beacons of innovation.

 One exemplary story from this innovation crusade is that of Dwarikanath Choudhury, a student of the Silicon Institute. His revolutionary project in the field of aerial vehicles garnered the highest score of 83 marks, presenting a new generation of vertical takeoff and landing with rotating flaps and wings. His technology promises to revolutionize traditional aircraft design.

 The transformative journey of startups isn’t confined to specific locales in Odisha. From Khurda to Sundergarh, Mayurbhanj to Berhampur, Rayagada to Puri, Jharsuguda to Ganjam, Gajapati, school and college students have captivated judges’ hearts with their astounding startup ideas, showcasing the expansive scope of their imagination. Startup Odisha has indeed tapped into the immense potential of innovation among the state’s students.

 The success stories emanating from these programs paint a vivid picture of the transformative power of Startup Yatra and Startup Express. Students aren’t merely generating groundbreaking ideas; they are also acquiring the skills and mindset needed to navigate the complex world of entrepreneurship.

 The innovative solutions proposed by these young minds, spanning sustainable agriculture practices to cutting-edge technology applications, highlight the vast talent pool and the potential for Odisha to emerge as a major player in the startup landscape.

 As momentum continues to build, Odisha’s startup ecosystem is evolving into a powerhouse of innovation. The state’s commitment to fostering entrepreneurship and providing a platform for young minds to flourish has set the stage for a brighter, more dynamic future.

 Startup Yatra and Startup Express have not only sowed the seeds of innovation but have also nurtured the fertile ground for these ideas to take root and grow. The journey has just begun, and as these startups continue to blossom, Odisha is poised to become a beacon of creativity and entrepreneurship in the ever-evolving landscape of the Indian startup ecosystem.

 In this evolving narrative, the young minds of Odisha are not just dreamers; they are architects of a future where innovation is the currency, and entrepreneurship is the language of change. The journey has just begun, and as these startups continue to blossom, Odisha is poised to become a beacon of creativity and entrepreneurship in the ever-evolving landscape of the Indian startup ecosystem.

A Heartfelt Ode to the Legendary Pt. Birju Maharaj Ji by Kathak dancer Shinjini Kulkarn

5th February 2024: Experience the magic transpire as passionate classical dancer Shinjini Kulkarni presented an exceptional tribute to the life and legacy of the late Pt. Birju Maharaj Ji.

With her distinct performing style and visual concept, Kathak performer Shinjini Kulkarni enthralled the spectators through Mann Bheetar, an emotive tribute to the late Pt. Birju Maharaj Ji. The production reflected a profound loss felt by people upon the loss of their revered guru.

kathak

Being an experienced dancing expert, Shinjini unveiled a surprising spectacle that promised to be a revolutionary blend of innovative technology and classical Kathak dance, equipped with an illusory appearance by the renowned Pt. Birju Maharaj Ji performed alongside her at the Vasant Otsav event.

With an effort to rekindle the luminary maestro and offer the audience a chance to experience his enduring charisma on stage, the soiree packed with cultural diversity, versatile splendor, and conceptual approach was hosted at Kamani Auditorium on February 3, 2024.

“The repertoire was not a performance; rather, it was a memorable portrayal of our affection and reverence for Pt. Birju Maharaj Ji” ,expressed Shinjini Kulkarni. An amalgam of technology and tradition was intended to honor the great maestro’s enduring impression on Kathak and to represent his essence.”

TATWA Technologies Celebrates 22 Years of Excellence

Bhubaneswar, 5th Feb 2024: of TATWA Technologies Ltd, one of the fastest growing companies in the IT/ITES sector was celebrates its 22nd foundation day across all its Delivery Centers on 4th Feb 2024. On this occasion, a grand event was held in Tatwa’s corporate campus in Bhubaneswar, witnessed by thousands of employees and associates from across the globe, in addition to over 700 attendees and dignitaries.

TATAW

 On this occasion TATWA 2.0 has been unveiled, which is a roadmap for a Billion Dollar
Enterprise in the next decade. TATWA plans to leverage its expertise to help businesses across industries adopt cutting-edge technologies and innovative processes to optimize their throughput. The Company will focus on enhancing its capabilities in areas like cloud computing, artificial intelligence, and cybersecurity to cater to the growing demand for these services. Leverage Human Intelligence as the Creators of Artifical Intellignce, which in effect shall prove to be the guiding force behind innovation and excellence in the Digital Era. The Company aims to further expand its international presence and continue establishing itself as a leading player in the global IT market.

 Rajya Sabha MP Dr Sujeet Kumar attended as chief guest and Co-founder of Mindtree N S Parthasarathy and Managing Partner of NetworkGain Consultancy Koushik Ramani as Guest of Honour.

 Chief Guest DR. Sujeet Kumar, MP, Rajya Sabha said, “Entrepreneurs create wealth for the
nation. Tatwa due to its clear vision and pursuit to achieve it has established itself, a fastest growing IT company in Eastern India.

 Guest of Honour Mr.N S Parthasarathy, Co-Founder, Mindtree | Managing Partner, Mela Ventures said, “40% company that starts, closed down in first 3years, while 80% of companies fail in 20 years of time. So as Tatwa is celebrating its 22nd foundation day, it’s a phenomenal achievement by any company. Countries those invest in building institutions thrive economically, culturally and socially. “

 On the Occasion, Mr. Ayaskanta Mohanty, Managing Director, Tatwa Technologies Limited emphasized the importance of embracing technology for customer success and highlighted the TRUST factor which is the foundation of any successful organization. “When employees trust their leaders and colleagues, they are more likely to be engaged, productive, and innovative,” said Mr. Mohanty.

 Mr. TapendraSenapati, Co-Founder & CEO said “Innovation is embedded as an integral component of Tatwa. There is a systematic process which drives innovation and the resources are always encouraged to bring in new thoughts and ideas”. Indeed, Tatwa has come a long way since its inception 22 years back and is in the verge of leaping into the future of digital technology.

  “TATWA’s commitment to developing a Centre of Excellence in AI, ML, Cybersecurity, and Analytics to offer services and solutions to Global customers is underway, which will help businesses achieve their goals at a fast pace. In order to achieve this goal Tatwa is building competency by skill development and certifications of talents and collaborating with Global Partners and OEMs”, said Ms Smruti Nayak, Director Technologies.

 Mr. David Sahoo, Director of Operations discussed about TATWA’s focus on CX Engineering and the team’s ability to design customized solutions for customers. “As a leading CX Engineering services provider, TATWA is always committed to meet the dynamic needs of customers providing comprehensive cutting edge CX solutions like intelligent Chat Bots, hyper personalization automation, etc.”.

 Mr. Bikram Dash, Vice President – (HR, L&D) discussed about the landscape of TATWA’s talent acquisition which is undergoing a dramatic transformation, fuelled by rapid technological advancements, shifting demographics, and evolving workplace expectations.

 From 2002, TATWA’s relentless endeavors in bringing people closer to technology has transformed a 3 member team to a formidable force of 3000+ digitally skilled professionals. Having established a strong foothold in the Indian markets (Operational Centres in Bhubaneswar, Kolkata, Guwahati, Hyderabad, Thane & NOIDA) , Tatwa has expanded wings overseas as well, catering to the markets of USA, UAE, South East Asia & Africa.

 Riding on its phenomenal success in transforming & managing Business Process across industries, ranging from the BFSI, Digital entertainment, Education, Insurance, Travel & Hospitality, Healthcare, Telecom and the like, TATWA has steadfastly made inroads into the new age Digital Era with proven capabilities. Partnering industries from diverse sectors to digitally transform their processes with embedded technologies and drive enhanced efficiencies with greater agility. This in turn, creates new values for employees, Customers and Stakeholders alike. Tatwa has established business verticals such as Technology Consulting & Implementation, System Consulting & Integration in addition to Hi Tech Business Process Management Services.

 With 2 decades of experience, TATWA innovates Unified Communication Platform as a Service (UCPaaS) – a unique service for the Small & Medium Businesses of the world to leverage the power of digital communication, Which is likely to attract hyper-growth in the future.

Satin Group Records Highest Ever PAT of Rs. 308 Crore in 9M FY24

5th  February 2024, New Delhi:

 Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404) has announced its unaudited financial results for the quarter and nine months ended 31st December 2023. The financial numbers are based on IndAS.

Consolidated Highlights

Particulars (Rs. crore) 9M FY24 9M FY23 % Change Q3 FY24 Q3 FY23 %Change Q2 FY24
Assets under Management (AUM) 11,074 7,945 39% 11,074 7,945 39% 10,100
Disbursement 7,445 5,299 41% 2,921 1,881 55% 2,403
Profit After Tax (PAT) 308 -94 428% 113 59 93% 107
Return on Assets (RoA) 4.5% -1.6% +610bps 4.6% 3.1% +149bps 4.8%
Return on Equity (RoE) 21.1% -8.1% +2914bps 21.7% 15.8% +591 bps 23.6%

 Footprints and Outreach

Particulars 9M FY24 9M FY23
States & UTs 24 23
Branches 1,386 1,267
No. of Employees 13,046 10,641
No. of Loan Officers 9,128 6,992
No. of Clients (Lacs) 34.2 27.0

 Standalone Highlights

Particulars (Rs. crore) 9M FY24 9M FY23 % Change Q3 FY24 Q3 FY23 %Change Q2 FY24
Assets under Management (AUM) 9,811 6,798 44% 9,811 6,798 44% 8,894
Disbursement 6,881 4,844 42% 2,698 1,725 56% 2,202
Profit After Tax (PAT) 298 170 75% 108 55 97% 103
Return on Assets (RoA) 4.5% 3.0% +146bps 4.5% 2.9% +157 bps 4.7%
Return on Equity (RoE) 17.8% 13.3% +456bps 18.4% 12.4% +598 bps 19.7%

 Update on 9MFY24 (Standalone Highlights)

  • Successfully completed equity infusion of Rs. 250 crore via QIP; received strong response from marquee domestic and global investors
  • Long term credit rating upgraded to A (Stable) by ICRA from A- (Stable)
  • Entered into a co-lending arrangement with Karnataka Bank
  • Certified with the highest level of recognition i.e. Gold level in Client Protection Principles by MicroFinanza Rating in accordance with the new framework of SPTF and CERISE
  • PAT stood at Rs. 298 crore, RoA at 4.5% & RoE at 17.8%; profit in the last 9 months surpassed 12 months profit of FY23
  • Observed strong net customer addition of 6.3 Lacs; client base crossed the 3 million mark
  • Disbursed ~Rs. 1,000 crore in a single month, marking the first time such a substantial amount has been distributed
  • Collection against write-offs of ~Rs. 36 crore
  • With operational efficiencies playing out, Opex to Avg AUM has reduced to 5.8% as compared to 6.8% in 9MFY23, decreased by 99 bps
  • Cost to Income ratio stood at 44.9% as compared to 57.5% in 9MFY23

Capital Adequacy and Liquidity

  • Our capital base is strong with a capital adequacy ratio of 28.7% as on 31st December 2023
  • Book Value per share at Rs. 205 on a consolidated basis
  • During 9MFY24, raised Rs. 7,470 crore which is up by 56% as compared to 9MFY23
  • The Company continues to maintain a healthy balance sheet liquidity of ~Rs. 1,800 crore and has undrawn sanctions worth Rs. 1,088 crore as on 31st December 2023

Borrowing Profile

  • Total borrowings stood at Rs. 7,488 crore as on 31st December 2023
  • Debt-to-equity ratio as on 31st December 2023 stood at 3.0x
  • 64% of our borrowings are from banks, followed by overseas funds at 15%, NBFCs at 12% and DFIs at 9%
  • The Company has a diversified and large lender base of 77 active lenders
    • Added 14 new lenders to the portfolio

Asset Quality

  • On-book Gross Non-Performing Assets stood at 2.40% amounting to Rs. 175 crore as on 31st December 2023 as compared to 3.92% as on 31st December 2022 amounting to Rs. 188 crore
  • The portfolio originated from Jul’21 onwards which constitutes ~97% of on-book MFI portfolio has PAR 1 at 2.1% and PAR 90 at 1.0%; better than industry portfolio quality post pandemic
  • We have sufficient on-book provisions amounting to Rs. 146 crore as on 31st December 2023, which is 2.0% of on-book portfolio
  • Gross cumulative collection efficiency for 9M FY24 stood at ~99.0%

Subsidiaries

Satin Housing Finance Ltd. witnessed YoY growth of 58% in AUM, which stood at Rs. 607 crore, having presence across 4 states with 6,512 customers

  • GNPA stood at 1.1% highlighting strong asset quality
  • SHFL has 100% retail book
  • The Company has 24 active lenders including NHB refinance
  • CRAR of 49.5% and gearing of 2.1x
  • PAT for 9MFY24 stood at Rs. 5.2 crore

Satin Finserv Ltd., the Company’s MSME arm, has reached an AUM of Rs. 657 crore

    • Systematically running down the Business Correspondent book to adhere to Principal Business Criteria
    • GNPA stood at 4.6%
    • CRAR of 47.8% and gearing of 1.1x
    • PAT for 9MFY24 stood at Rs. 3.6 crore

Commenting on the performance, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, said, “In the landscape of robust performance, this quarter has unfolded as an exceptionally triumphant chapter for us, distinguished by a series of notable achievements across various facets of our business operations, like equity infusion of Rs. 250 crore through QIP, a rating upgrade to A (Stable) by ICRA from A- (Stable), gold-level certification in CPP and co-lending agreement with Karnataka Bank, etc. With a strong improvement in business momentum, operating efficiency and asset quality, we delivered our highest ever PAT and recorded a lifetime high AUM of Rs. 11,074 crore. Our growth is backed by strong customer addition coupled with an increase in ticket size to repeat customers. Driven by the robust demand, we recorded a healthy disbursement of Rs. 7,445 crore for 9M FY24, up by 41% Y-o-Y. Since 2008, the company has raised equity of Rs. 1,537 crore, out of which Rs. 595 crore was raised post Covid-19, which signifies the trust placed in us by the market, affirming our standing as a reliable and valued company in the industry. We continue to have a strong liability profile. As we conclude Q3 and look ahead, we remain committed to sustained growth, better cost efficiencies, and maintaining the high quality of our assets. The strong performance in the quarter serves as a foundation for our continued success, and we are well-positioned to seize future opportunities.”

 

CARE Hospitals Unveils Inspirational Video Campaign “ChapterofHope” On World Cancer Day

Hyderabad, India – February 5, 2024 – CARE Hospitals, a leading multi-speciality hospital in India, announced the launch of its latest video campaign, “ChapterofHope,” commemorating World Cancer Day. This initiative aims to raise awareness and extend support to cancer patients, emphasizing the profound strength found in hope.

The campaign, underscored by the theme #ChapterofHope, portrays each day of the cancer journey as a page in a book, symbolizing stages and milestones. It resonates deeply with individuals battling cancer, acknowledging their challenges while highlighting their inherent resilience and unwavering hope.

The heart of the campaign lies in a poignant narrative centered around the life of a vlogger, chronicling a year of his experiences. The video is meticulously crafted to capture slice-of-life moments, revealing that amidst the shadows of a life-threatening illness like cancer, there are bright and optimistic glimpses. It underscores the transformative power of hope, illustrating how a tiny ray of light can illuminate even the darkest days.

 world cancer day

“Our intent with this film is to impart a message of hope—to redefine cancer not as the conclusion of one’s story but as another #ChapterofHope,” shared a spokesperson from CARE Hospitals. “We endeavor to uplift the spirits of those confronting cancer, fostering a sense of optimism. Our dedicated teams of cancer experts and specialists stand committed to delivering advanced treatment and compassionate care, accompanying patients every step of their journey.”

The “ChapterofHope” video campaign is poised to inspire and empower individuals affected by cancer, urging them to embrace hope as an essential companion in their fight against the disease.

One Time Sanction of Drawings for Real Estate Projects in Himachal is enough

New Delhi, 5th February 2024: The Real Estate Regulatory Authority (RERA) of Himachal Pradesh has conceptualized the time limit of sanctioned drawings for Real Estate Projects, for which the earlier time limit for constructing such projects was 3 years. Henceforth, the State Government holds that once drawings sanctioned for Real Estate in housing projects in the state are obtained, their renewal is not mandatory.

The above disclosure was made by the Chairman of RERA Himachal Pradesh, Dr. Shrikant Baldi, at the second day of the 16th Naredco National Convention, “Fostering Trust with Transparency; Pathway 2047,” held on Saturday. He added that the government of Himachal had already extended such a deadline from the earlier period of 3 years to 5 years some time back.

RERA Chairman- Shrikant Baldi

Given the tempo and enthusiasm with which the real estate sector has begun to grow at a rate of approximately 10 percent per annum in the recent past, the RERA of Himachal Pradesh approached its government and succeeded in persuading it to make the validity of once sanctioned drawings for real estate and housing projects an endless period of time, said Dr. Baldi.

Dr. Baldi, who is also the President of the All India forum of RERA, further informed that this was the demand of developers in general and other stakeholders, and the sustainability limit for sanctioned drawings was extended for a great deal of period for a win-win situation. The government of the state permitted its RERA to undertake the proposed move incorporating necessary changes in the state’s town planning statutes.

The Chairman also informed that the RERA of the state does not accept physical documents for registering any housing and real estate projects, nor does it entertain any requests for complaint lodging by any stakeholders in Real Estate. Instead, it entertains compliments and complaints online to ensure that transparency is strictly observed in every format through which real estate activities are permitted in the state.

According to him, the aforementioned steps are mooted at the All India level because real estate, in general, has started looking up from the level of 7 percent last year to that of 7.3 percent presently. Similarly, investors in this sector are upbeat given its growth, with bank credit showing an upward trend for the sector from 7.3 percent of the national GDP in the last year to that of 8.7 percent.

In his welcome remarks, President Naredco Mr. G Hari Babu pointed out that real estate and construction activities have to be given preferential treatment across the country because they contribute massively to the national GDP and national growth, with a particular focus on employment.

Mr. Babu, however, pointed out that approximately Rs 1 lakh 50 thousand Crores have been deposited with various governments by real estate developers throughout the country as labor cess. The objective of creating such a fund was to be utilized for the benefit of their labor and their wards, as each developer is required to contribute 1 percent of the project cost to the respective state government. However, the fund is hardly serving the stated objective, and the money is languishing. Therefore, steps are needed to utilize this fund.

RADIUS-OIS Unveils Next-Generation Intelligent Agent Console ‘Intello’

[Bangalore, 5th February, 2024] – RADIUS-Omnichannel Interaction System, a leading provider of Contact Center as a Service (CCaaS) solutions is excited to introduce the newly redesigned and upgraded intelligent agent console, Intello. This substantial enhancement underscores RADIUS’s dedication to delivering cutting-edge, customer-focused solutions within the CCaaS sector. The launch of Intello represents a crucial milestone, showcasing RADIUS’s commitment to innovation and excellence in serving the evolving needs of the industry.

 The next-generation agent console elevates the customer experience with its powerful and sophisticated features, including an intuitive interface with breezy navigation and a
customizable dashboard with diverse themes for personalization. It allows seamless switching between various interactions and channels, enhancing communication and productivity. Core features include integrated AI tools for deeper insights, audio and video capabilities via WebRTC, and a multi-feature-single window interface for streamlined access to multiple functions. Moreover, its robust integration with Data and Information Management Systems puts essential information readily at agents fingertips.

 “As a niche player in the industry, we firmly believe in the power of integrating customer
feedback with the comprehensive research of our team. With this symbiotic approach, we
prioritize a customer-centric focus to drive innovation and stay ahead in the market. This not only addresses current user needs but also anticipates future demands, ensuring our
application’s functional superiority, user satisfaction, and sustainable business growth,” said Chief Architect of RADIUS-OIS Mr. Suman Subudhi. “We are dedicated to staying ahead of the curve in the ever-evolving industry through our focus on innovation and engineering excellence.”

 Intello, leveraging the power of Gen AI along with other advanced technologies, enables
agents to provide highly personalized interactions at every customer touchpoint. Additionally, it boasts robust security and compliance measures, ensuring the utmost protection of sensitive customer information.

 “We’re inviting industry leaders and SMEs to discover the potential of RADIUS-OIS and how it can transform their approach to customer engagement,” added Business Head, Mr.
Srinivas PV. “With the latest Intello, we are redefining what an intelligent, cost effective, and adaptable solution should be.”