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Mumbai, India, 24th July 2024: NPST, a leading provider of digital banking and payment technology solutions provider, listed on the NSE SME exchange, has reported its strongest-ever quarterly performance in Q1 FY 2025, with a 202.96% growth in net profit and a 142.2% increase in net revenue.

Performance Snapshot

•  The company achieved a record quarterly revenue of ₹60 crore, marking a 34.5% sequential growth and a 142.2% increase compared to the same quarter last year.
•  NPST achieved 46% of FY24’s total income in Q1 FY25, setting a solid foundation for the rest of the fiscal year.
•  Profit Before Tax (PBT) jumped to ₹21 crore, up from ₹6.2 crore in the previous year, an impressive 238.7% increase.
•  The company’s net profit recorded a 202.96% growth, reaching ₹15.62 crore from ₹5.15 crore.
•  The company’s Q1 FY25 net profit reached 58% of the total net profit for FY24, setting a new benchmark and indicating a promising future outlook.
•  This is the highest quarterly performance since its listing on NSE in August 2021.

NPST attributes its substantial topline growth to the growing demand for efficient digital payment operating models, such as Payments Platform as a Service (PPaaS) among Payment Aggregators, Payment Gateways, and Merchants. The operationalization of key customer accounts, infrastructure upgrades to manage increased transaction volumes, and improved delivery execution within the Technology Service Provider (TSP) business that caters to banks were also instrumental in this growth.

Commenting on the results Ashish Aggarwal, Co-Founder and Joint Managing Director NPST, stated; “We are proud to announce a record-setting performance for Q1 FY 2025, demonstrating robust increases in both revenue and profit, even as we scale our strategic growth investments. Our business strategy over the last three years is producing results, and we remain dedicated to maintaining this momentum by continually focusing on building a reliable, efficient, and resilient organization.”

Commenting on the results, Deepak Chand Thakur, Co-Founder and CEO NPST, stated; “We are off to an exceptional start in FY 2025, marking our tenth consecutive quarter of growth since the company’s listing. The positive momentum, particularly within our Payment Platform-as-a-Service (PPaaS) segment, is very encouraging. The new customer acquisitions and ramp-up in deals we’ve discussed in previous quarters are now positively impacting our revenues. We see substantial growth opportunities across our PPaaS and Technology Service Provider business segments. Moving forward, we remain committed to enhancing our unique business model, strengthening strategic customer engagement, and preparing for future readiness.”

NPST plans to raise fresh capital through a Qualified Institutional Placement (QIP). The funds will support investments in new-age technology, market diversification, and scaling organizational capabilities, aligned with the company’s vision to be among the top players in the Indian digital payments industry.

To scale growth NPST is creating a balanced mix of commercial and tech leadership, aimed at enhancing both strategic agility and operational excellence. During the quarter, NPST significantly strengthened its talent pool by adding senior-level sales professionals and other resources.

Mumbai, India, July 23, 2024: Revolutionizing the way fashion-forward women experience luxury, Sanktum, the brainchild of founders Anushi Patel and Rangoli Kute, introduces a groundbreaking subscription service that has taken India’s fashion scene by storm. Say goodbye to the days of being stuck with the same handbag; Sanktum’s luxury handbag subscription lets you swap, style, and repeat, ensuring you’re always at the forefront of fashion.

Luxury, Redefined

Sanktum offers an exclusive collection of high-end handbags from world-renowned designers, giving subscribers the freedom to experiment with different styles without the commitment of a permanent purchase. Whether it’s a sleek clutch for a gala, a chic tote for a business meeting, or a trendy crossbody for a casual outing, Sanktum has the perfect accessory for every occasion.

How It Works:

The subscription process is simple and tailored to meet the needs of fashion enthusiasts:

Choose Your Plan: Select from various subscription tiers to match your style and budget.

Curate Your Collection: Browse through a curated selection of luxury handbags and select your favorites.

Swap and Repeat: Enjoy your chosen handbag for a month, then swap it for a new style. The process is seamless, ensuring you never miss a beat in the fast-paced world of fashion.

Eco-Friendly Fashion

Sanktum is not just about luxury and style; it’s also about sustainability. By opting for a handbag subscription, you’re contributing to a more sustainable fashion ecosystem. The practice of renting and returning reduces waste and promotes a circular economy, making it an eco-friendly choice for conscientious fashion lovers.

23rd July 2024, Mumbai – Neurological disorders, both fatal and non-fatal, are among the leading contributors to the burden of non-communicable and communicable diseases in India. As we celebrated world Brain day yesterday 22nd July Neurological experts have shown serious concern about Neurological Disorders in India. The theme of World Brain Day is changed every year. This time the theme of World Brain Day 2024 is “Brain Health and Prevention”. This year’s theme of World Brain Day emphasizes the importance of proactively addressing the risk factors, early detection and effective management of neurological diseases as well as the mission to spread global education on prevention strategies. On the occasion of World Brain Day Dr. Joshi’s Neurotrauma Center has conducted a check-up and consultation camp in thane.

Commenting on this Dr. Joshi’s Neurotrauma Center Director and Senior Neurosurgeon Dr. Vinayak Joshi says, “If you are wondering what is the significance of World Brain Day, then let us tell you that people have to become aware of brain related diseases and conditions. So that people can be informed about the importance of brain health and the symptoms of neurological diseases can be identified and treated on time. Even today people are very less aware about brain related diseases due to which it takes the form of a serious disease in the future. In which lakhs of people die every year only due to brain related diseases. Genetics, stress and our lifestyle play major roles in brain health, but diet cannot be ignored. What we eat affects not only our weight but also our brain. Therefore, we should not ignore “brain foods”. There is no food that can protect against age-related diseases like dementia, but our brain needs good & quality food for better concentration throughout the day.”

Dr. Joshi’s Neurotrauma Center Director and Senior Neurosurgeon Dr. Vinayak Joshi further added, neurological disorders have become a serious public health challenge in India, affecting millions of people suffering from diseases such as stroke, epilepsy, Parkinson’s disease, Alzheimer’s disease and multiple sclerosis. It is important for a person to get adequate sleep to feel fresh. To keep the body healthy, it is necessary to take 8 to 10 hours of sleep. So sleep is also very important for brain health. Scientists’ research found that when humans sleep at night their mind does the work of cleaning. The brain starts working on the waste disposal system. The brain expels waste material from the glymphatic while sleeping. The glymphatic system is strongly correlated to sleep processes. Sleep helps the glymphatic system remove brain waste. Astrocytes expand and contract to form channels for cerebrospinal fluid (CSF) to wash through the brain and eliminate waste.Along with this, the brain organizes its neurons while sleeping. So at the same time it also maintains your stress level.

 Another important non-communicable neurological disorder that needs the attention of policymakers is epilepsy. Globally, around 50 million people have epilepsy, among whom 10–12 million live in India. The prevalence estimates in India for 2019 range from 3·0 to 11·9 per 1000 of the population and incidence from 0·2 to 0·6 per 1000 of the population per year, with a major contribution from the rural population. In several other countries, new treatments such as monoclonal antibodies are being introduced and applied for particular neurological disorders, including migraine, multiple sclerosis, and other demyelinating conditions, but in India, the use of these costly medicines needs government funding, to provide for people in the low-income group at affordable cost.

Mumbai, July 23, 2024; IIM Sambalpur inaugurated its 6th batch of PhD and 5th batch of Executive PhD programme 2024 in hybrid mode at its campus. The ceremony included insightful discussions on research methodologies and journeys, featuring the participation of international and national academicians, authorities, and industry leaders. The objective of these discussions was to share the research experience and to guide the newly enrolled PhD students at IIM Sambalpur. The Executive PhD students are currently working in sectors such as the Defense Force, government organizations, the IT industry, and entrepreneurship. Some are employed in prestigious companies and organizations such as Google, Accenture, Flipkart, State Bank of India, Bank of Baroda, and Pidilite Industries, among others. It is to be highlighted that out of the total 25 candidates in both PhD and Executive PhD programmes, they hold various important positions such as CEO, COO, MD, VP, Deputy Magistrate, Senior Superintendent of Police, Business Head and IIT Faculty, among others.

Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, emphasized the importance of research in driving innovation and solving real-world problems in his welcome address. Prof. Jaiswal described the research methodology and said, “Scientific discovery involves two primary methods: the positivist and interpretivist approaches. The positivist method begins with a hypothesis grounded in established theory. Researchers collect data to test this hypothesis, aiming to contribute new insights to existing literature through a structured process of formulating research questions, developing hypotheses, collecting data, and presenting findings. The interpretivist approach starts with unusual facts that challenge traditional theories. It investigates discrepancies between theory and practice, such as why Ola cabs caused the decline of traditional radio cabs or how small companies outperform large ones. This approach creates new research opportunities by exploring these anomalies.”

Prof. Raj Agnihotri, Assistant Dean of Industry Engagement, Ivy College of Business, Iowa State University, USA, said, “Think big, think like an innovator. It’s time to move beyond merely validating existing theories and start finding solutions that create real impact on businesses, society, and communities. Build theories that aren’t confined to specific contexts but can be generalized and applied globally. Remember, innovation isn’t limited by geographical boundaries or academic fields; it transcends borders and integrates diverse perspectives. By fostering this mindset, you can contribute to ground-breaking advancements that resonate worldwide and redefine the landscape of research and practice.” Prof. Agnihotri further said, “Expand your network of scholars and collaborators. True learning and innovation happen through collaboration. As PhD students, you have a unique power and opportunity to reach out and connect with experts and peers worldwide. Use this time to build meaningful relationships that will not only enhance your research but also broaden your academic and professional horizons.”

Prof. Vishal Gupta, Professor, University of Alabama, USA said “Embark on your PhD journey with the mindset of a world champion —strive for excellence, not just completion. Just as Olympic athletes push beyond the norm, embrace the challenge of high-quality research and global competition. Your journey demands dedication, rigorous training, and the pursuit of groundbreaking work, beyond mere expectations. Remember, true success in academics comes from the relentless pursuit of innovation and the courage to set higher standards for yourself” Prof. Gupta further added, “Approach your PhD like an elite athlete preparing for the global stage: with relentless dedication and a drive to excel. The path is not just about fulfilling requirements, but about making impactful contributions to your field.”

During the keynote address, Dr. K.K Tripathy, Economic Advisor (Health), Ministry of Health and Family Welfare, New Delhi, underscored the importance of passion in one’s academic journey and said, “Your passion is the cornerstone of your academic journey. Embrace it and it will drive you to create new knowledge and tackle complex problems. As you delve into research, focus on adding value to existing knowledge and specialize in your field to become an authority. Networking with peers and mentors will expand your horizons, while your analytical skills and critical thinking will help you navigate uncertainties. Remember, effective research involves understanding and interpreting data accurately, contributing to meaningful societal improvements, and enduring challenges with perseverance and resilience.”

Dr. R.K Singh, Vice President (HR), TRL Krosaki Refractories Ltd., Belpahar, Odisha, said, “Research is not merely an academic pursuit but a journey of self-discovery and innovation. As we advance in automation and AI, we must embrace research as a tool to challenge existing paradigms and explore new frontiers. By integrating interdisciplinary approaches and critical thinking, we uncover insights that drive organizational excellence and personal growth. The power of research lies in its ability to question, validate, and transform conventional wisdom, ultimately enhancing our understanding and application of knowledge in diverse fields.”

Earlier, the programme commenced with an introductory remarks by Prof. Saumyaranjan Sahoo, Chairperson, PhD/Exe PhD Programme. Prof. Padmavathy Dhillon, Chairperson, ExPhD-DBA Programme, expressed gratitude in the vote of thanks.

The session continued with an engaging talk by Prof. Nilesh Khare, Ph.D. from Fisher College of Business, the Ohio State University (USA), Adjunct Professor, IIM Sambalpur on “What I wish I knew and What helped.” Prof. Khare’s session provided practical insights and advice to the new scholars.

The second day of the orientation programme featured a seminar by Prof. VG Venkatesh, Vice-Dean and Professor, Supply Chain Management, EM Normandie Business School, France, on “Crafting an impactful PhD journey: A Primer.” This was followed by a session on “Crafting Research Output” by Prof. Mahadeo Jaiswal.

1) Yuvraj A. Thakker, Managing Director, StoxBox

Union Budget 2024-25 marks a transformative phase for the stock market, with a strong focus on infrastructure and defense spending. The increased allocation for infrastructure projects is expected to stimulate economic growth, enhance connectivity, and drive significant investments in related sectors. Similarly, the heightened defense budget reflects a commitment to national security while opening avenues for defense-related industries. These strategic investments are poised to boost market confidence, attract capital inflows, and generate new opportunities across various sectors. Overall, the budget’s emphasis on infrastructure and defence is set to create a favourable environment for sustained market growth and investment.”

2) Manish Chowdhury, Head of Research, StoxBox

– The key highlight of the budget is the fine balance between fiscal prudence and welfare schemes, with a special focus on Bihar and Andhra Pradesh. With most pointers in line with the interim budget, the key takeaway is the downward revision to the FY25 fiscal deficit figure to 4.9% and an increase in capital gains tax. Though there is a tinge of populist measures on expected lines, the government remains focused on job creation, infrastructure development, strengthening the ecosystem for manufacturing, renewable energy, and new sectors, and creating disposable income in the hands of people with a key focus on rural. Though we do not rule out some kneejerk reaction in equity markets, the long-term trajectory and the intention of the government looks pro-economy and adding wings to move the economy towards the USD 5 trillion mark in the near term.

3) Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

– The budget’s primary focus seems to be on employment and job creation which reflects in (a) Employment Linked Incentives which will benefit 82 lac people across 3 initiatives (b) Skilling-related financial support for Skilling Loan of upto ₹7.5 lacs and subvention of 3% interest for education loans (c) Top 500 companies can provide 1-year internships where the government will support almost 90% of compensation and even 10% can be funded through companies’ CSR obligation… this means additional man power resources will be available without significant cost burden.

Infrastructure:

– Before the budget, there was high expectations that the government will increase infrastructure allocation from the interim budget announced amount of ₹11.1 lac cr to higher value given the exceptional dividend received from RBI and robust tax collection but against that government has kept the allocation same which is 11% growth over FY24 allocation and in line with nominal GDP growth rate. One of the reason could be extra allocation to infrastructure may result into continued higher-than-expected inflation which will reduce RBI’s ability to reduce interest rates. The announcement in today’s budget is more focused on DBT (Direct Benefit Transfer) to beneficiaries rather than spending to increase the velocity of demand.

4) Dr. Mayank Joshipura, Ph.D.|Vice Dean, Research & Ph.D., Professor-Finance|School of Business Management, NMIMS, Mumbai

– The Modi 3.0 government’s first budget headline is the target fiscal deficit of 4.9% for 2024-25, which shows unwavering commitment toward budgetary deficit. The increase in STCG and LTCG tax and STT on F&O is a dampener for the stock markets and might spook the market, but an increase in the exemption limit from the current Rs. 1L to Rs. 1.25L will help retail investors and encourage long-term investing. Increasing the standard deduction and revising new personal taxation rates is a significant relief for individuals. Overall, the budget is balanced, focusing on critical areas such as MSME, employment, affordable housing, skill building, ease of doing business, and energy transition without losing focus on infrastructure development and fiscal discipline. The compulsions of coalition politics are visible regarding announcements focused on specific states. The digitalization of land records is a significant step forward in the direction of land records.

5) Vaibhav Shah, Fund Manager, Torus Oro PMS

– Post Economic Survey released yesterday with a specific mention of the rise in speculation and capital market activity, there was nervousness among players that capital gains may be rejigged. The latest annoucement with respect to the increase of capital gains rate is negative as it has caught everyone by surprise. Also from a stable regime now we are witnessing changes to the regime which raises further doubts on the continuity of the rate regime

Mumbai / Pune, India, 21 July 2024: MIT World Peace University (MIT-WPU) announces the successful conclusion of the 1st National Scientists Round Table Conference (NSRTC 2024), a landmark event held from July 19 to July 21, 2024. The conference, themed “Science and Technology for Viksit Bharat 2047,” brought together esteemed dignitaries, scholars, and visionaries to discuss pivotal themes shaping India’s scientific future.

The three-day conference brought together top academicians, scientists, researchers, and scholars. The focus was on exchanging insights and research across Physical Sciences, Life Sciences, and Engineering & Technology. NSRTC 2024 highlighted key topics such as Artificial Intelligence, Quantum Technology, Science & Spirituality, Sustainability, Healthcare and World Peace. The event aimed to spark innovative ideas, especially among young researchers, and promote interdisciplinary and global collaborations for new discoveries and sustainable development.

Dr. Sujata Chaklanobis, Former Advisor/Scientist G, DSIR, New Delhi, was the Chief Guest at the Valedictory function of NSRTC-24. Distinguished attendees included Hon’ble Padma Vibhushan Dr. R. A. Mashelkar, Mr. Ganpati Yadav, Former Vice-Chancellor of the Institute of Chemical Technology; Padma Bhushan Dr. Vijay Bhatkar, Founder Director of C-DAC, Pune; UNESCO Chair Holder Prof. Dr. Vishwanath D. Karad, Founder President of MIT-WPU; Shri. Rahul V. Karad, Executive President of  MIT-WPU, Dr. Sunil S Bhagwat, Director, Indian Insititute of Science Education and Research, Pune and NSRTC National Convener Prof. Dr. Milind Pande and Prof. Dr. Bharat B. Kale.

Dr. Sasikumar M. Executive Director, C-DAC, Mumbai said “The successful conclusion of the 1st National Scientists Round Table Conference (NSRTC 2024) represents a significant milestone for science and technology in India. Our discussions on Artificial Intelligence revealed both its vast potential and the challenges it presents. While AI holds great promise, it must be approached with caution, ensuring accuracy and transparency to avoid biases. This conference has fostered valuable interdisciplinary collaboration and set a new benchmark for advancing our vision of a sustainable, equitable future. I am immensely proud of what we have achieved and excited about the path ahead.”

Dr. Sujata Chaklanobis, Former Advisor/Scientist G, DSIR, New Delhi, and Chief Guest at the Valedictory function of NSRTC-24, emphasized the vision of Vikasit Bharat @2047. She highlighted that this dream can be achieved through science and technology interventions, urging scientists and young scholars to engage in cutting-edge research to address the nation’s challenges. She congratulated MIT-WPU for organizing the NSRTC 2024, where the nation’s brightest minds deliberated on crucial topics.

UNESCO Chair Holder Revered Prof. Dr. Vishwanath D. Karad, Founder President of MIT-WPU said, “Over the past three days, we have witnessed remarkable exchanges of ideas and groundbreaking discussions on the future of science and technology. The convergence of eminent scientists, researchers, and visionaries at MIT-WPU underscores our collective commitment to fostering innovation and interdisciplinary collaboration. As we strive to build a sustainable and equitable future, NSRTC 2024 has truly exemplified the spirit of scientific exploration and the pursuit of excellence, setting a precedent for future endeavours in advancing frontier technologies for the betterment of society.”

Shri. Rahul V. Karad – Executive President, MIT-WPU “At MIT-WPU, we believe in the transformative power of education and research, and this conference exemplifies our dedication to addressing critical issues such as healthcare, climate change, and digital transformation. We are honored to have hosted such a distinguished panel of experts and are excited about the breakthroughs and new ideas that have emerged from this event. The successful conclusion of the 1st NSRTC at MIT-WPU is a testament to our unwavering commitment to fostering scientific excellence and innovation. This event has inspired collaboration and dialogue among leading scientists and researchers, propelling us towards our vision for Viksit Bharat 2047. “

The conference was organized around eight key themes: Artificial Intelligence, addressing ethical frameworks, regulations, AI for social good and healthcare, and future job impacts; Biotechnology, focusing on synthetic biology, bioinformatics, biomedical devices, biopharmaceuticals, and bio-manufacturing; Digital Transformations, covering grid technology, quantum computing, blockchain, cybersecurity, and digital inclusion; Advanced Materials and Processing, including nanomaterials, organic electronics, biomimetic designs, sustainable materials, and 3D printing; Healthcare, exploring tissue engineering, regenerative medicine, wearable devices, and affordable high-tech healthcare; Science, Scientific Temper & Spirituality, examining the role of scientific temper, brain-mind-consciousness relationship, and spiritual practices; Agri-Tech, focusing on precision agriculture, genetic engineering, climate-smart agriculture, urban farming, and agritech startups; and Climate Change, addressing climate modeling, the circular economy, sustainable mobility, green buildings, and managing transitions.

NSRTC 2024 witnessed the presence of prominent 130 scientists from across the country and notable figures, including Dr. Ashok Joshi, Padmashri Dr. Thallapai Pradip, Prof. Dr. M.S. Ramachandra Rao, Dr. Richard Lobo, Prof. Dr. Ajit Kulkarni, Dr. Umesh Waghmore, Dr. Dipankar Das Sharma, Dr. Dinesh Aswal, Dr. Tata A. Rao, Dr. Bhushan Patwardhan, Prof. Anil Sahasrabuddhe, Dr. Niraj Khare, Dr. K. Sami Reddy, Dr. Atul Verma, Dr. Ashok Khandkar from the USA, Dr. Sumitra, ISRO scientist Dr. Ilangovan, Prof. Krupanidhi of IAS Bangalore, Prof. Anik Kumar, ICER Director Ashok Ganguly, Dr. Rajat Mona, Prof. Das Gupta, Dr. Nag Hanumaiah, Sameer Director Hanmantrao, Sydney University Prof. Dr. Kautubh Dalal and Purdue University Prof. Sachin Pol.

Mumbai – July 2024 – Donna Deli, an all-day cafe in Bandra announced the launch of a new menu.

This delectable new menu is designed to delight the taste buds of food connoisseurs and casual diners alike. Indulge in the rich flavors and aromas with our new offerings, featuring a range of dishes that will captivate your senses. From the vibrant Nibbles to the hearty Large Plates, each dish is carefully crafted to provide a sense of comfort and newness alike. Whether you’re in the mood for a leisurely brunch or a comfort dinner, the new menu has something for everyone.

Starting from All Day Brunches to some delectable food across categories, the Donna Croiwich section features classic sandwiches, such as the Caprese with beefsteak tomatoes, pesto Genovese, and stracciatella. The Donna Crepes section also highlights innovative creations like the Cilbir,, featuring millet crepes topped with poached egg and crackling harissa butter.

In the Nibbles section, the Miso Hummus with fresh sourdough crostini, togarashi edamame with chili crisp. There are also options like wontons, tacos and mochico fried chicken which is served with gochujang aioli and secret sesame. Lamb birria tacos served with consomme is something one should definitely try.

Among the Large Plates, the Truffle Mac n Cheese, a customer favorite, brings a touch of sophistication to a classic comfort dish. Other highlights include the Atlantic Salmon served with caponata Milanese and saffron cream sauce, and the Brazilian Curry featuring a coconut and chickpea curry served with quinoa and couscous amongst other new additions.

MUMBAI, India, July 22, 2024  — IndusInd Bank has announced the launch of ‘Wrestle for Glory‘ program, a CSR initiative of the Bank, continuing the longstanding collaboration with the Inspire Institute of Sport (IIS), a high performance Olympic training facility headquartered in Vijayanagar, Bellary. This program aims to empower 50 talented female wrestling athletes from across the country and provide them with coaching at the esteemed IIS facility on fully-funded scholarships.

Through its CSR initiatives focused on sports programs, the Bank prioritizes both inclusivity and sporting excellence and emphasizes the participation of individuals from diverse backgrounds, including different genders, persons with disabilities, and underprivileged communities. Under the ‘Wrestle for Glory‘ CSR program, female wrestlers will benefit with access to top-tier training facilities, expert coaching, comprehensive sports science resources, cutting-edge equipment, nutritional support, educational assistance, and a supportive ecosystem essential for nurturing their potential and propelling them towards success on the global stage.

Mr. Sanjeev Anand, Head – Corporate, Commercial and Rural Banking, and In-Charge of ‘IndusInd For Sports’, IndusInd Bank, said, “We are delighted to launch ‘Wrestle for Glory’ with Inspire Institute of Sport, which is a testament to our unwavering commitment to drive diversity and inclusivity in Indian sports, thereby empowering the athletes. The Bank’s focus extends beyond promoting talent; it also strives to foster a sense of national pride through its sporting achievements. We believe that by providing these athletes with the necessary support and resources, we can help unlock their full potential and pave the path for a brighter, more inclusive future in Indian sports. Together, we strive to create a platform where dreams are realized, boundaries are surpassed, and excellence knows no limits.”

Rushdee Warley, CEO, Inspire Institute of Sport, said, “We are happy to extend our association with IndusInd Bank for Inspire Institute of Sport’s Girls’ Wrestling Programme, which has witnessed tremendous growth over the last few years. We are certain that with IndusInd Bank’s support, we will raise the bar even higher and give our young athletes an even better chance of excelling at the global stage.”

The ‘Wrestle for Glory‘ program has been launched as a part of the ‘IndusInd For Sports‘ initiative, a non-banking sports vertical of the Bank, established in 2016. ‘IndusInd For Sports’ drives on the philosophy of diversity, differentiation and domination through its initiatives that aim at exciting, educating and engaging the stakeholders using sports. IndusInd Bank aims to broaden the program’s impact by extending support to aspiring female wrestlers in the forthcoming years to realize their Olympic dream.

Mumbai, July 19, 2024 – Farmers are the backbone of our economy, and their relentless efforts ensure food security for the nation. In view of the same Bank of India is proud to announce the celebration of Kisan Divas, a day dedicated to honouring the invaluable contributions of our nation’s farmers. As a tribute to the hardworking and resilient farmers of India, Bank of India has launched several schemes and initiatives aimed at supporting and empowering the agricultural community.

Through Kisan Mah Utsav, Bank of India is raising awareness about its various financial assistance schemes which are contributing to the development of the country and its farming community.

One of the standout offerings under Campaign Kisan Samridhi is the Star Farm Mechanization Scheme and the Star Krishi Vahaan scheme, which provide financial assistance for the purchase of agricultural implements and vehicles for transporting farm produce. These schemes come with attractive concessional rates of interest starting at 8.90% and a 100% waiver of proposal processing charges.

Major financial assistance schemes of Bank of India are under:

• Kisan Credit Card Scheme: Providing easy access to credit for meeting all types of agricultural needs with availability of interest subvention
• E-Warehouse- Financial assistance to farmers against the electronic warehouse receipt who have stored their produce in accredited warehouses
• Star Doodhganga Scheme: Special schemes for dairy animal rearing activities
• Star Polutry Development Scheme: Special scheme for Poultry rearing activities
• Star Pisciculture Scheme: Financial assistance for all kinds of marine, brackish and inland fishery activities
• Star Food and Agro Processing scheme: Financial Support for food & agro processing units
• Star Self-Help Groups: Empowering women through self-help groups by financial assistance for taking up economic activity
• Star Sakhi Scheme- Financing to individual SHG members in line with Govt. of India Lakhpati Didi Scheme with availability of interest subvention
• Atmanirbhar Yojana: Initiatives for self-reliant under Govt. of India flagship programme
• Warehouse and Cold Storage: Infrastructure support for storage and preservation

One of the above popular scheme is the Kisan Credit Card Scheme which is designed to provide farmers with timely and need-based credit support for their agricultural and allied activities, as well as non-farm activities. The card offers low interest rates, transparent terms with no hidden charges, and minimal documentation requirements, ensuring that farmers can easily access the financial resources they need. By streamlining the credit process and making funds more accessible, Bank of India aims to alleviate the financial burdens faced by farmers, enabling them to invest in better farming practices, purchase essential equipment, and ultimately, improve their productivity and income.

On the occasion of Kisan Divas, Bank of India reaffirms its commitment to supporting farmers through various initiatives. Empowering farmers with financial resources, knowledge, infrastructure and technology is essential for sustainable agricultural growth.

By facilitating these resources, Bank of India aims to boost productivity and improve livelihoods by continuing to provide essential financial tools and resources. The goal is to foster a more resilient and prosperous agricultural sector, ensuring that our farmers can thrive and continue to be the cornerstone of our nation’s growth.

Mumbai, July 19^th, 2024: Dalmia Bharat Limited, , a leading cement manufacturing company, reported its consolidated financial results for the quarter ended June 30, 2024.

1. Financial Highlights for the Quarter ended June 30, 2024

(Figures in Rs. Crores)

^Exceptional Item: Includes impact of 84 Cr on account of one-time provision being created with Jaiprakash Associates Ltd. undergoing Insolvency Proceedings. (Pre-Tax Rs. 113Cr)

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “The continuity of the incumbent government at the Centre ensures policy stability and a continued focus on infrastructure spending, which bodes well for cement sector’s long-term prospects, particularly cement demand. During the quarter, even though cement demand was weak across regions amidst general elections, our volumes grew 6.2% YoY while margins improved to 18.5% from 16.9% last year.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “The cement pricing continued to be weak during the quarter, but we saw a notable improvement in margins due to better input prices and reversal of certain cost inefficiencies of the previous quarter. We are progressing well on the long-term levers of margin improvement including investment in brand, renewable energy and operationalizing captive coal mines.” He also said, “We have added 2 MnT of cement capacity in South and are on track to add another 2.9 MnT in North East & East region during FY25. Our strong balance sheet positions us well for the next phase of expansion.”

Key updates

• Commissioned 1 MnT cement capacity each at its existing units at Ariyalur, Tamil Nadu and Kadapa, Andhra Pradesh respectively. This takes company’s overall installed capacity to 17 MnT in South and 46.6 MnT in India, and is in line with the long-term growth strategy of increasing the total capacity to 110-130 MnT by the 2031.
• In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040, Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the Company, has entered into multiple Renewable Power Agreements under the Group Captive, which will secure 127 MW of renewable power through Solar and Wind energy. The commissioning of these Renewable power plants is expected to be in FY25 & FY26.

Key Recognitions during the quarter

• Recognized with CDP Leadership Award (CDP Discloser 2023, Climate) for its commitment to environmental stewardship
• Recognized as the Supply Chain Champion for the Northern Region at the ISCM Supply chain rankings of the 2nd India Supply Chain Leaders Senate 2024
• Won the Procurement Excellence of the Year at the 2^nd Procure Connect Confex & Awards 2024