Archives March 2023

World Book Fair is a platform for various book launches, author discussions, and literary events. As World Book Fair is on full swing at Pragati Maidan, the series of book launching events are on its way. Among the most talked-about book releases today, there was book release of Pendown Press’ books Driving Digital Transformation by Raktim Singh, Bhuwan Pant’s Don’t Delay Act to Play, Ajay Adlaka’s Why Nobody Cares for Your Brand, Dr. Taara Malhotra’s MIndful Miracles and Sanjay Narwal’s books, namely Rich Practitioner Kaise banein and Pashupalak Apni Amdanee kaise badhayein.

Among these books, Raktim Singh’s book is in both Hindi and English which is written on the topic of Digital Transformation, whereas Sanjay Narwal’s both books are in Hindi language which are written for the purpose of making the readers aware, especially the farmers of this country, about the importance of cattle wealth and how to nurture and preserve this wealth.
The author corner of Pragati Maidan was jam-packed just before and during the release of these books.

As the guests took their seats, the host of the event welcomed everyone and introduced the authors of these books in concise but effective way. Firstly, the founder and CMD of Pendown Press Dinesh Verma was called upon the stage and were asked to address the audience. Amid the thunderous clapping, Mr Verma Greeted the Gathered with his quintessential smile and said,

” Releasing books through the prestigious place of Author Corner in Pragati Maidan is indeed a proud moment for us. The Pendown Press authors have made all these possible. All the books being launched today carry great values and significance for the readers and this is what the aim of Pendown Press is.”

Soon after that the authors read a brief excerpt of their books to give the audience a taste of the books being launched.
Following the author’s presentation, Q&A session began. After the Q&A, there was book signing event. Readers met the author, and took his signed book. The entire book launching ceremony was quite electrifying and engaging.

Mumbai, March 2023: A recent survey of Chief Financial Officers (CFOs) in India, conducted by Dun & Bradstreet India, a leading global provider of business decisioning data and analytics, found that CFOs’ confidence in financial and macro-economic conditions has declined over the same quarter in the previous year. The pan-India survey compared the confidence levels of CFOs for Q1 2023 with the previous quarter.

Key findings from the survey:

• The Composite CFO Optimism Index declined by 7.8% (y-o-y) to 96.1 in Q1 2023. However, the index increased by 8.3% on a q-o-q basis

• The optimism level for overall macroeconomic scenario declined by 18.2% (y-o-y) in Q1 2023

• Only 35% of CFOs expect an increase in the operating margin of their company in Q1 2023, lowest in 10 quarters

• Only 7% of CFOs in the industrial sector expect the level of financial risks to decrease in Q1 2023, lowest since Q2 2012

• Optimism for raising short term funds is highest since Q2 2012

• Overall scenario for mergers and acquisitions is highest since Q2 2022

• Risk appetite of the CFOs in the industrial sector is highest since Q1 2020

The Dun & Bradstreet India Composite CFO Optimism Index analyses the optimism level of CFOs on 12 parameters: operating margin, liquidity position, level of financial risk on company’s balance sheet, risk appetite, need for raising short-term and long-term funds, cost of raising funds, availability of funds, domestic and global macroeconomic scenario, overall scenario for mergers and acquisitions, and level of financial risks for corporate sector.

Commenting on the findings of the survey, Arun Singh, Global Chief Economist, Dun & Bradstreet, said: ”The optimism level of CFOs has been subdued for five consecutive quarters, although the pace of decline moderated in Q1 2023. Even as the outlook for domestic growth remains positive, businesses remain wary about the economic developments in the domestic and global market. India’s growth forecast has been revised downwards in the last few months as core inflation has not yet abated, and interest rates are still inching up. As the global economy is headed towards a synchronized economic slowdown, export prospects remain weak. Reflecting upon the risk to the economic and business environment, CFOs remained cautious about operating margin and liquidity position – the optimism for which fell to a 10-quarter low in Q1 2023. Amidst the low optimism for profitability and liquidity position, the need for short term funds – an indicator for working capital – has surged to the highest level since Q2 2012, indicating a tightening of cash flow conditions. Businesses should remain vigilant and increase the close monitoring of strategic accounts and focus on effective recovery system”’.

India:  TriVeda Capital, a new-age Indian real estate investment platform and SEBI-registered category II AIF, today announced their partnership with integrated marketing business impact consultancy, One Source. The partnership will involve integrated marketing communication and creative duties across PESO platforms.

The founders, Mr. Ravindra Pai and Mr. Raj Inamdar, have over 40+ years of real estate investment & development experience. The management team at TriVeda Capital has collectively raised over $1.1 Bn capital for real estate projects, and have a development portfolio of 15+ mn sqft. TriVeda Capital in turn is focused on residential assets in major South Indian metropolises.

The partnership will be co-led for One Source by Senior Counsellors, Akanksha Srivastava and Tanya Chaudhary, supported by the national team.

Opining on the partnership Tripti Agarwal, Business Head, TriVeda Capital, said, “At TriVeda, we enable investor participation in the Indian real estate growth story. Hence we looked for partners who believe in mutual growth. It is the same thought process we bring to our investors as well, one of ‘we grow when you grow’. With their extensive experience in the financial space, One Source was an unequivocal choice, demonstrating a partner-and-not-vendor attitude”.

Sandeep Rao, Co-founder & CEO, One Source added, “Over the last five years, we have been defined less as a marketing firm by our partners, and more as a business impact marketing consultancy, or one I heard recently – a scale-up marketing firm. Helping our partners raise billions in valuation and tens of thousands in headcount are the business impact we have created year on year. We are honoured to be working with Ravindra, Raj, and the team at TriVeda, and hope to grow alongside for years to come”.

One Source has offices in New Delhi, Mumbai, and Bengaluru which service Indian and global market leaders across start-ups, BFSI, fintech, edtech, construction, e-commerce, fast fashion, manufacturing, packaging, business consulting, ICT, foodtech and more. Over the last five years, the consultancy has seen consistent 100+% growth across partners and people, beating average industry appraisals along the way at 27% YoY.

Mumbai, India, 5 March 2023 – AVEVA, a global leader in industrial software, has announced Caspar Herzberg as CEO.

With more than 25 years’ software and industry experience, Caspar brings a deep understanding of how technology can transform and reshape industries, enabling innovation and driving responsible use of resources.

Caspar joined AVEVA in 2021 as Chief Revenue Officer and assumed the role of Chief Operating Officer in 2022. AVEVA has recently been acquired by Schneider Electric, and as AVEVA CEO, he will also be a member of the Schneider Electric Executive Committee.

Prior to joining AVEVA, Caspar led all aspects of Schneider Electric’s business in over 80 countries as President, Middle East & Africa. He started his business career at Accenture based out of its London office and worked in extensive digital transformations for the global energy sector. At Cisco, Caspar led sales and services for over ten years, developing smart cities strategies, technology innovation and business master plans for the private and public sector in China, Asia, Japan, Australia, the USA, and Europe.

Caspar replaces Peter Herweck, who will become CEO of Schneider Electric from May 4th, 2023.

Caspar Herzberg, CEO of AVEVA, said: “It is a privilege to take over from Peter Herweck, who has led the company through a time of transformation and renewal. We have a great opportunity ahead of us, having brought together three market-leading software portfolios– Schneider Electric Software, AVEVA and OSIsoft. We are now one of the world’s top industrial software providers, trusted by over 90% of industrial companies from energy, water and food to manufacturing, pharmaceuticals and smart cities. We plan to drive value for our customers with integrated data, AI-infused applications, accelerating their journey to the cloud and providing Software-as-a-Service (SaaS) to reduce total cost of ownership.

“My vision for the future is a completely connected world, where industrial teams use integrated data to collaborate beyond their own four walls. Together with suppliers, partners and customers, they uncover new synergies, reduce waste and create new opportunities. At AVEVA, we are uniquely positioned to enable our customers to thrive in this new connected industrial economy. I’m looking forward, alongside our hugely talented teams, to empowering our customers to design better, operate more efficiently and solve the most critical challenges for industry, infrastructure and our planet.”

Mumbai, March 2023: Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, registered monthly domestic sales of 6,086 units in February 2023. The export numbers for HCIL stood at 973 units in Feb’23.

Sharing thoughts on Feb’23 sales performance, Mr. Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “Our sales performance in the month of Feb’23 has been as per our plan towards seamless transition of our models to new emission norms. We are currently gearing up for the launch of New City, and we are confident that it will generate new excitement and appealing options for customers.”

The company had registered 7,187 units in domestic sales and exported 2,337 units in February’ 22.

Subrat Mohanty, Group Executive & Head – Banking Operations and Transformation, Rajiv Anand, Deputy MD, Amitabh Chaudhry, MD&CEO, and Arjun Chowdhry, Group Executive & Head – Cards, Payments & Wealth, Axis Bank

Mumbai, March 05, 2023: Axis Bank, one of India’s largest private sector banks, has completed the acquisition of Citibank’s consumer business in an accelerated time frame of within 7 months post receipt of CCI approval, displaying a strong testament of its execution

strength. The deal has been closed with Axis Bank paying a total purchase consideration (after customary & contractual adjustments) of INR 11,603 Cr* to Citibank India.

The transaction comprises the sale of the consumer businesses of Citibank India, which includes loans, credit cards, wealth management, and retail banking operations. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited, comprising asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

The acquisition is a healthy strategic fit in line with Axis Bank’s GPS (Growth, Profitability & Sustainability) strategy and its focus on premium segment growth. The Bank has gained access to the large, affluent, and profitable customer franchise of Citibank, which aligns well with its Premiumization strategy. 

With the acquisition, comes a quality credit card franchise with one of the highest wallet shares in premium cards, that is Complementary and consolidates Axis’ position in the cards business, market share improving from 11.4% to 16.2%⁽¹⁾. The acquired portfolio would increase Axis Bank’s credit card customer base by ~19%, with an addition of 1.8 million cards***. With the highest number of transactions per card across the industry and digitally engaged customers, the deal would strengthen Axis Bank’s position in the top 8 metros, while also providing the opportunity to adopt global best practices in client servicing and operations through Citi Phone banking.

Additionally, the acquisition of 2.4 million customers of Citibank India enhances Axis Bank’s presence in the key growth segments, complementing the existing Axis franchise. The Bank now has aggregate deposits of INR 8,881 Bn of which a high proportion of CASA is at 77%, with SA constituting 71%. Access to a premium deposit base with deep corporate salary relationships has improved the combined CASA ratio on proforma basis by ~150 bps to 46%. Affluent and digitally engaged SA customer base with access to ~1600 Suvidha corporate relationships that significantly strengthens Axis Bank’s Salary Business.

Post-acquisition, Axis Bank gains ready access to highly affluent wealth customers resulting in a 33% addition to overall AUM of Burgundy Private Banking portfolio, further strengthening the existing franchise. With an added AUM of INR 947 bn across Citi products in Wealth Management and Private Banking, the current AUM of the Bank’s wealth management portfolio stands at INR 3785 bn, making it the 3rd largest in the industry.

Through the acquisition, Axis Bank welcomes a diverse talent pool of ~3200 employees trained in global best practices, and experienced leadership with deep domain expertise.

Benefits for Citibank customers 

The Citi customers will continue to enjoy same benefits and privileges with no changes in their existing Bank account number, Credit/Debit Card numbers, cheque books, IFSC & MICR code. They will continue to be serviced by same relationship managers and teams. All the 21 in- perimeter branches remain fully equipped to serve the incoming customers; we are also equipping 13 additional branches that would be available for incoming customer servicing during the transition period. The necessary IT applications and trained staff have been deployed at acquired branches. All the services to the incoming customers will continue to function as before as the same teams from Citi move to Axis intact.

On the other hand, the erstwhile Citi retail franchise will now have access to massive national scale of (~4900) branches and (~16,000) ATMs and recyclers as well as cutting-edge digital plus data-science assets through the Axis platform.

Further, Citibank’s customers will specifically benefit from Axis Bank’s wider geographical reach and comprehensive service offerings, along with One Axis capabilities that extend across all its subsidiaries ensuring a ‘same or better’ offer to all Citi customers.

Speaking on the occasion, Amitabh Chaudhry, MD&CEO, Axis Bank said,  “We welcome over 2.4 million customers and ~3200 employees to our Axis family ‘Dil Se’, as we successfully conclude the first leg of integration. This is a significant milestone in Axis’ journey of growth and leadership in the Banking industry and is set to bring great value for all stakeholders involved. We have a strong balance sheet, comfortable capital levels, and the right team and customer segments to further realize our ambitions.”

He added, “Citibank has a culture that is much like ours, with a commitment to best-in-class customer service, people focus, and community engagement. Axis Bank already has a rich network of Citi alumni across the hierarchy, which reflects of the cultural alignment between the two organizations. Given the expertise that the new employees will bring to the table, we view them as a significant force to help drive our GPS objectives. The premium portfolio and business synergies through this deal will help accelerate and add further momentum to our already robust plans across priority segments.”

Subrat Mohanty, Group Executive & Head – Banking Operations and Transformation, Axis Bank said, “We are delighted with the addition of Citi’s premium consumer business and a high-quality team of colleagues to Axis Bank. We expect our customers to experience the value of this integration with newer, innovative products and world-class customer practices. Axis Bank is positioned strongly to power India’s growth story.”

Arjun Chowdhry, Group Executive &  Head  –  Cards,  Payments &  Wealth,  Axis  Bank said, “Axis Bank is committed to building a strong consumer banking business in India, and already has deep market presence, across all segments and geographies. All ~3200 Citi colleagues, who carry a strong and diversified skill set, are extremely excited to join the Axis family and further build on its growth ambitions. We look forward to collaborating with Axis’ experienced senior leadership team and diverse talent pool, as we join the 88,000+ strong, dedicated workforce and live up to the brand’s credo ‘Dil Se Open’.”

“Ear and hearing care for all! Let’s make it a reality”

World Hearing Day is held on 3 March each year to raise awareness on how to prevent deafness and hearing loss and promote ear and hearing care across the world. This Year’s Theme is “Ear and hearing care for all! Let’s make it a reality”.

Hearing loss can affect anyone right from newborn to elderly population.

Most common causes in terms of frequency with which they manifest include diseases of middle ear, exposure to loud noises, medications used for other diseases. Less common are trauma and congenital causes.

Sound pollution in public places due to the high decibel horns in traffic / Use of regular voice prompts of electronic equipment at workspace / home and self-inflicted (earphones or headphones) leads to Noise Induced Hearing Loss which is ‘silent pandemic’.

Especially by the young generation for prolonged periods which will manifest hearing loss after few years of use.

Lifestyle changes like smoking, alcohol intake, high stress environment all contribute to hearing loss which is preventable.

Ringing sensation in ear, burning sensation, pain in ear after prolonged ear-phone use, are routinely encountered symptoms in these patients.

Prevention is better than cure. Avoid ear buds, loud music and noisy environment exposure. These precautions should be taken up by everyone.

Consult ENT specialist when you have an Ear complaint at the earliest.

Delhi, March 05, 2023: BITS Pilani, an Institute of Eminence with campuses in India (Pilani, Goa, Hyderabad, and Mumbai) and the UAE (Dubai), has tied up with RMIT University, Melbourne, one of the oldest and largest educational institutes in Australia, to launch a BITS-RMIT Higher Education Academy with a dual-degree model. Under the program, students will begin their learning at BITS, experience the RMIT academic environment through courses co-taught by BITS and RMIT faculty, and move to RMIT, Melbourne, for two years, for a fully immersive experience in Australia. The courses will include four undergraduate engineering programs and a Ph.D. program and will commence in mid-2023.

Since the launch of the National Education Policy (NEP) in 2022, India has become an attractive destination for affordable higher education and this partnership is the first joint degree program under the policy.

The collaboration was formalized at a ceremony in Delhi today between Professor Souvik Bhattacharyya, Vice-Chancellor, BITS Pilani, and Professor Alec Cameron, Vice-Chancellor and President, RMIT University by signing an agreement in the presence of Hon. Jason Clare MP, Australia’s Minister for Education, Hon. Barry Farrell, Australia’s High Commissioner to India, Mathew Johnson, Australia’s Minister Counsellor (Education) to India, and several other dignitaries. Prof V Ramgopal Rao, Vice Chancellor-designate, and Prof S K Barai were also present at the signing ceremony.

Speaking about the partnership with RMIT University, Professor Souvik Bhattacharyya, Vice-Chancellor, BITS Pilani, said “The BITS-RMIT Academy represents a new dimension in trans-national education and research that will deliver the best outcome, both from India and Australia. Through the Practice School and Work Integrated Learning programs, respectively, BITS Pilani and RMIT University are naturally aligned on their mandates to deliver highly-skilled, industry-ready graduates. The Academy will offer uniquely designed programs leveraging the excellence and legacy of the BITS Pilani and RMIT University systems, with faculty, students, and researchers in close collaboration.  We look forward to a new era of academic cooperation that will define and deliver the best attributes of a global graduate and citizen.”

Alec Cameron, Vice-Chancellor and President, of RMIT, said “The Academy marks a strategic step in strengthening RMIT’s profile and presence in India through partnering with a high-performing University. This partnership highlights the shared commitment of both institutions in shaping global-minded and work-ready graduates with international mobility. The Academy represents a step in furthering RMIT’s commitment to international education and research collaborations and reinforces our position as a leading university of impact. It adds to the growing list of quality education and research opportunities offered by RMIT across the globe. We look forward to working closely with BITS to provide students with high-quality, unique learning experiences and research opportunities.” 

The partnership between BITS Pilani and RMIT seeks to deliver graduates and scholars empowered by the combined attributes of both institutions and countries, straddling the domains of scholarship, research, innovation, entrepreneurship, and cross-cultural understanding and awareness. 

New Delhi March 05, 2023: The TV9 Network has won big at the VDONXT Awards. At a ceremony held in Mumbai on February 27, the TV9 Network went back with as many as six awards across categories such as brand integration stand-alone, action, best smart-budget film, aerial videography, and lifestyle.

It was an encore of industry appreciation for News9 Plus. Soon after stealing the show at the Afaqs! The Future of News media awards, News9 Plus, the world’s first News OTT, bagged four medals including two silver medals and two bronze trophies.

‘Bombs in the Backyard’ bagged silver at the VDONXT Awards in the Action category. The Indian Army recovers tons of military-grade explosives from the heart of India’s cities. The story, reported by Aditya Raj Kaul, provided a rare glimpse of the classified operation.

The story ‘Balochistan: Bangladesh 2.0’, won silver in the Smart Budget Film category. Balochistan has faced barbaric human rights violations and subjugation of locals at the hands of the Pakistan Army. As the Baloch people continue their resistance against Pakistan’s Deep State and China, News 9 Plus investigated the nature of the exploitation and the rationale behind the rebel movement. The story was reported by Aditya Raj Kaul.

In February, the Pakistan Telecommunication Authority (PTA) had written to Twitter objecting to the docu-series saying it violated the laws of the country.

TV9Digital UP UK won a Bronze in the ‘Action’ category for The Bahubali Story that chronicled the life of heartland politician Raja Bhaiya.

‘Demons in the Head’, reported by Lakshna Gulati, won bronze in the lifestyle category for News9 Plus. The story addresses India’s mental health crisis that has stayed unaddressed owing to social taboos. The documentary took a close look at people who’ve battled mental health issues and speaks to experts at the forefront of driving the conversations on mental health in the country.

The story ‘Garbage Mountains’ which won bronze in the ‘Best Use of Aerial Videography’ category, looks at the Capital’s public health crisis. Delhi generates 10,000 tonnes of waste every day. Most of it is dumped in 3 landfills as tall as the Qutub Minar. The story, reported by Mohammad Wajihulla for News9 Plus, looks beyond the obvious and comes up with solutions for the crisis.

Studio9 — which creates content and experiences that deliver impact, shape opinion, and influence audiences — bagged the Bronze in the category ‘Brand Integration Standalone’ for Bablu Yadav, a special story for the Castrol Super Mechanic Contest 2021-22.

The awards took place after the conclusion of the seventh edition of the VDONST Asia Conference. The entries were judged by a 17-member jury of well-known names from the world of advertising, media, and marketing, including Arun Iyer (Spring Marketing Capital); Rohit Malkani (L&K Saatchi & Saatchi); Sambit Mohanty (McCann Worldgroup); Amit Sethiya (Syska); Elizabeth Venkataraman (Kotak Mahindra Bank); Karthik Yathindra (Jockey); Prateek Malpani (Wakefit); Vanda Ferrao (WOW Skin Science); Amit Doshi (Pratilipi); Arindam Biswas (SVF Entertainment); Karan Sabde (Warner Bros. Discovery); Manpreet Bumrah (Eros Now); Zaheen Ekhlas (SonyLIV); Aradhana Bhola (Fremantle India); Kailash Surendranath (Kailash Picture Company); Rishi Negi (Endemol Shine India); and Tusharr Kumar (Only Much Louder).

The jury rated the entries on a 1-10 scale. Each entry was submitted for review to between five and seven jurors. One important innovation that was introduced in most of the awards, organized by Afaqs!, was a minimum scoring system. This ensures that even if there is, hypothetically, only one entry in a category, it doesn’t automatically ensure that it will win gold. The jurors will have to give it a score of at least seven points.

New Delhi, March 05, 2023: Two giant consumer brands, LG and Times Prime today announce their coming together for a strategic partnership for their “Assured Benefits Carnival,” where the electronic giant will gift Times Prime Annual Membership to its customers on purchase of any “Side by Side Refrigerator”.

Upon product purchase, customers will receive a voucher code for the Times  Prime annual membership with access to a wide range of benefits from premium & popular brands such as Disney+ Hotstar, SonyLIV, Cricbuzz Plus, Gaana Plus, EazyDiner, ET Prime, TOI+, and many more. This one-stop shop also provides exclusive offers and discounts over Rs.60,000 on your favorite brands such as Myntra, Uber, Chaayos, etc.

Speaking on the latest collaboration of the brand, Harshita Singh, Business Head of Times Prime said, “The aim of this strategic partnership is to enrich the offering bouquet of an appliance leader like LG with Times Prime’s holistic ecosystem of all lifestyle brands under one app. This wholesome nature of our app integrated with an umbrella of offerings by LG is bound to benefit both brands for sales and engagement.”.”

As one of the most preferred lifestyle super-apps, Times Prime offers an extensive range of benefits on a single platform, from shopping to entertainment and lifestyle brands like Starbucks, Myntra, Uber, Disney+ Hotstar, SonyLIV, Google One, and many more. Times Prime positions itself as a unique Super App that curates subscriptions and benefits besides elevating lifestyle with superior & exclusive access to global brands and experiences. The campaign is designed to create a sense of urgency and dramatize the importance of availing the benefits of Times Prime subscription.