Archives February 2024

KEY HIGHLIGHTS (Q2FY24)

• Net Profit increased by 62% YoY to Rs.1,870 Cr.
• Operating Profit stood at Rs.3,004 Cr for Q3FY24 against Rs.3,652 Cr in Q3FY23 and Rs.3,756 Cr in Q2FY24.
• Net Interest Income (NII) stood at Rs.5,463 Cr for Q3FY24 against Rs.5,595 Cr for Q3FY23 and Rs.5,740 Cr in Q2FY24.
• Yield on Advances (Dom.) improved by 53 bps YoY.    Gross NPA ratio down by 231 bps YoY.
• Net NPA ratio down by 20 bps YoY.
• Provision Coverage Ratio (PCR) at 89.95%.
• CRAR stood at 16.06%, with CET-1 ratio at 13.16%.
• Global Business increased by 9.60% YoY.
• Global Deposits increased by 8.28% YoY.
• Global Advances increased by 11.29% YoY.
• RAM Advances grew by 13.61% YoY and it constitutes 55.24% of Advances
• Agriculture Credit grew by 14.23% YoY. MSME Credit grew by 10.61% YoY.

• CASA deposits increased by 5.92% YoY and CASA ratio at 43.88%.

Profitability:

Q3-FY24: 

• Net Profit for the quarter improved by 62% YoY and stood at Rs.1,870 Cr for Q3FY24 against Rs.1,151 Cr in Q3FY23. On a sequential basis, Net Profit improved by 28% from Rs.1,458 Cr in Q2FY24.
• Operating Profit stood at Rs.3,004 Cr for Q3FY24 against Rs.3,652 Cr in Q3FY23 and Rs.3,756 Cr in Q2FY24.
• Net Interest Income (NII) stood at Rs.5,463 Cr for Q3FY24 against Rs.5,595 Cr for Q3FY23 and Rs.5,740 Cr in Q2FY24.
• Non-Interest Income stood at to Rs.1,193 Cr for Q3FY24 against Rs.1,432 Cr in Q3FY23 and Rs.1,688 Cr in Q2FY24.

9Months ended FY24:

• Net Profit increased by 83% YoY and stood at Rs.4,879 Cr for 9 month ended FY’24 against Rs.2,672 Cr in the corresponding period of last year.
• Operating Profit improved by 14% YoY and stood at Rs.10,511 Cr for 9-month ended FY’24 against Rs.9,209 Cr in the corresponding period of last year.
• Net Interest Income (NII) increased by 16% YoY and stood at Rs.17,117 Cr for 9-month ended FY’24 against Rs.14,751 Cr in the corresponding period of last year.
• Non-Interest Income increased by 9% YoY and stood at Rs.4,344 Cr for 9- month ended FY’24 against Rs.4,001 Cr in the corresponding period of last year.

Ratios (Q3-FY24):

• NIM (Global) stood at 2.85% in Q3FY24 against 3.28% in Q3FY23 and 3.08% in Q2FY24.
• NIM (Domestic) stood at 3.21% in Q3FY24 against 3.72% in Q3FY23 and 3.47% in Q2FY24.
• Return on Assets (Global) improved by 27 bps YoY to 0.82% in Q3FY24 against 0.55% in Q3FY23. On a sequential basis it improved by 15 bps from 0.67% in Q2FY24.
• Cost to Income ratio (Global) stood at 54.87% in Q3FY24 against 48.03% in Q3FY23 and 49.44% in Q2FY24.
• Yield on Advances (Global) improved by 70 bps YoY to 8.37% in Q3FY24 against 7.67% in Q3FY23 and 8.54% in Q2FY24.
• Cost of Deposits (Global) stood at 4.62% in Q3FY24 against 3.72% in Q3FY23 and 4.49% in Q2FY24.

Ratios (9Months ended-FY24):

• NIM (Global) improved by 2 bps YoY to 2.98% in 9M-FY24 against 2.96% in 9M-FY23.
• NIM (Domestic) stood at 3.35% in 9M-FY24 against 3.37% in 9M-FY23.
• Return on Assets (RoA) improved by 28 bps YoY to 0.72% in 9M-FY24 against 0.44% in 9M-FY23.
• Return on Equity (RoE) improved by 434 bps YoY to 13.75% in 9M-FY24 against 9.41% in 9M-FY23.
• Cost to Income ratio (Global) stood at 51.02% in 9M-FY24 against 50.89% in 9M-FY23.
• Credit Cost improved by 37 bps to 0.54% 9-Months ended 31 st Dec. 2023
• Yield on Advances (Global) improved by 117 bps to 8.34% in 9M-FY24 against 7.17% in 9M-FY23.
• Cost of Deposits (Global) stood at 4.44% in 9M-FY24 against 3.58% in 9MFY23.

Business:

• Global Business increased by 9.60% YoY from Rs.11,61,441 Cr in Dec’22 to Rs.12,72,887 Cr in Dec’23. (YTD Growth: 7.38%)
• Global Deposits increased by 8.28% YoY from Rs. 6,53,691 Cr in Dec’22 to Rs. 7,07,827 Cr in Dec’23. (YTD Growth: 5.71%)
• Global Advances increased by 11.29% YoY from Rs. 5,07,750 Cr in Dec’22 to Rs. 5,65,060 Cr in Dec’23. (YTD Growth: 9.54%)
• Overseas Deposits increased by 12.07% YOY to Rs. 1,08,690 Cr and Overseas Advances increased by 10.99% YOY to Rs. 90,047 Cr in Dec’23.
• Domestic Deposits increased by 7.62% YoY from Rs.5,56,707 Cr in Dec’22 to Rs.5,99,137 Cr in Dec’23. (YTD Growth: 5.66%)
• Domestic CASA went up by 5.92% YoY from Rs.2,46,718 Cr in Dec’22 to Rs.2,61,335 Cr in Dec’23 and CASA ratio stood at 43.88%. (YTD Growth of CASA Deposits: 3.64%)
• Domestic Advances increased by 11.34% YoY from Rs. 4,26,622 Cr in Dec’22 to Rs. 4,75,012 Cr in Dec’23. (YTD Growth: 10.05%)
• RAM Advances increased by 13.61% YoY to Rs.2,62,390 Cr, constituting to 55.24% of Advances in Dec’23. (YTD Growth: 10.30%)
• Retail Credit grew by 15.40% YoY to Rs.1,05,445 Cr in Dec’23. (YTD Growth: 11.33%)
• Agriculture Credit grew by 14.23% YoY to Rs.80,345 Cr in Dec’23. (YTD Growth: 10.99%)
• MSME Credit grew by 10.61% YoY to Rs.76,600 Cr in Dec’23. (YTD Growth: – 8.23%).

Asset Quality:

• Gross NPA declined by 22.24% YoY from Rs.38,885 Cr in Dec’22 to Rs.30,237 Cr in Dec’23.
• Net NPA declined by 0.25% YoY from Rs.7,646 Cr in Dec’22 to Rs.7,627 Cr in Dec’23.
• GNPA ratio improved by 231 bps from 7.66% in Dec’22 to 5.35% in Dec’23.
• Net NPA ratio improved by 20 bps from 1.61% in Dec’22 to 1.41% in Dec’23.
• Provision Coverage Ratio (PCR) stood at 89.95% in Dec’23 against 90.27% in Dec’22.

Capital Adequacy:

• As on 31.12.2023, Bank’s total Capital Adequacy Ratio (CRAR) was at 16.06% against 15.60% in Dec’22.
• CET-1 ratio stood at 13.16% as on Dec’23.

Priority Sector:

• Priority Sector Advances increased by 10.51% YOY and achieved 43.62% of ANBC as on Dec’23. Agricultural advances achieved 19.72% of ANBC.
• Advances to Small & Marginal Farmers achieved 12.68% of ANBC in Dec’23 against regulatory norm of 10%.
• Advances to Weaker Sections achieved 15.82% of ANBC in Dec’23 against regulatory norm of 12%

Financial Inclusion:

Digital Banking:

• Internet Banking users: Increased to 8.8 million in Dec’23 from 8.4 million in
• Dec’22.
• Mobile Banking users: Increased to 10.1 million in Dec’23 from 7.1 million in
• Dec’22.
• Number of UPI users increased to 18.0 million in Dec’23 from 14.8 million in
• Dec’22.

Branch Network:

• As on 31st Dec’23, the Bank has 5139 number of Domestic branches.
• Rural: 1861 (36%), Semi-Urban: 1457 (28%), Urban: 831 (16%), Metro: 990 (19%).

New Delhi February 3, 2024: Finance Minister Nirmala Sitharaman‘s sixth consecutive budget presentation, the last one before the General Elections, has concluded. Breaking down the complexities and deciphering the budget’s profound impact, the Times of India proudly introduces its annual flagship property, the Right to Excellence Budget Masterclass. The event will feature Amitabh Kant, former CEO of Niti Aayog, known for his insightful perspectives on economic matters.

Taking place on February 5, 2024, in Delhi, this masterclass is set to unite policymakers, experts, and finance gurus to decode the pivotal announcements made by the Finance Minister.

Prasad Sanyal, Business Head, Times of India Digital, said, “We hope this Budget masterclass helps people understand the impact of the announcements made by the Finance Minister. It’s essential for individuals and businesses to stay informed about the budget’s implications. Our Budget Masterclass will provide valuable insights and analysis to help people navigate the potential impact of the Union Budget on their personal and professional finances.”

• Here’s an overview of the sessions that will be part of the Masterclass:
•  Navigating Tax Changes: Understanding the implications of introduced tax changes and their impact on personal finances.
•  Fueling Growth: Exploring strategies outlined in the Budget to foster economic growth.
•  Sector Spotlight – Revolutionizing the Automobile Sector: Gaining Expert Insights on How the Budget Will Impact the Auto Industry.
•  Fireside Chat: Budget Planning for Businesses: Delving into how businesses can strategically plan decisions in alignment with fiscal policies.
•  Fireside Chat: Revolutionizing the Automobile Sector – Innovations, Sustainability, and Future Trends: An in-depth expert perspective on how the budget will shape the future of the automobile sector.

Shashank Srivastava, Sr. Executive Officer, Marketing and Sales at Maruti Suzuki India Ltd, one of the key panellists on the Masterclass, said, “I am very excited to be a part of TOI’s Right To Excellence Budget Masterclass. Today, I will be talking about the blueprint that the interim budget has provided the industry at large to sustain India’s economic growth. Furthermore, I will also discuss the budget’s impact on the auto sector, what measures need to be taken to continue the growth momentum in the sector, and future trends.”

Bengaluru, February 03, 2024: Karnataka carries a staggering cancer burden, with the second highest reported rate among all Indian states covered by population-based cancer registries (PBCRs). Data reveals a staggering 151 cases per lakh population, mainly cervical ovarian and breast cancers which translates to a significant public health challenge.

Despite a rising burden, personalized medicine offers tailored therapy. Recently, India witnessed a beacon of hope in the form of precise cutting-edge treatments and personalised care approaches. For instance, standing at the forefront of precision therapy for cancer, is the newly introduced CAR-T cell therapy, NexCAR19. According to medical oncologists, this gene-modified cell treatment offers a single-infusion approach that significantly improves quality of life at a fraction of the global cost. The arrival of CAR-T program in Karnataka marks the start of a new era of personalized cancer care. It opens avenues for newer therapies and solutions for patients with relapsed or refractory B-cell lymphoma and B-acute lymphoblastic leukaemia.

A cancer diagnosis often comes with an overwhelming amount of information for patients to sift through and remember. In the intricate tapestry of cancer care, case managers emerge as vital navigators, offering a beacon of support for those traversing the challenging terrain of diagnosis and treatment. Medix Global, which offers a unique healthcare management model, further amplifies this support by offering its Personalised Cancer Care Case Management services as a pillar of support for patients and their families. “No two cancer journeys are identical,” says Medix Global’s Founder and CEO, Ms. Sigal Atzmon. “That’s why we tailor our services to each patient’s unique needs. We delve into medical history, personal circumstances, and treatment goals, crafting a precise, personalised care plan just for them. Ultimately, we aim to empower patients, navigating the intricate landscape of cancer care with compassion while leveraging both global and local expertise”, she said.

Medix Global aims at bringing in a fundamental change in how healthcare is delivered and consumed in India. Dr. Ankit Kumar Gupta, Senior Case Manager Doctor at Medix Global’s Mumbai Office emphasises on how their model is a movement away from a one-size-fits-all and fragmented approach towards more advanced, nuanced, patient-specific and holistic cancer care. “By implementing our uniquely managed care models across India, Medix flattens the inequality of care curve, reduces unwarranted healthcare variations between doctors, hospitals, cities, regions, countries and more, making quality healthcare borderless”, he said.

“The impact and improvement in medical outcomes that we have demonstrated speaks for itself”. Added Ms. Atzmon. “In 7.8% of the oncology cases managed, we changed the diagnosis and helped reach an accurate diagnosis. This includes, the type or subtype of cancer, staging of the tumour or extreme cases in which the patient was wrongly diagnosed and did not have cancer at all. In 54.1% of the cases, our specialists have recommended a different and more optimal, personalised treatment regimen. In 11.5% of the cases we helped, our patients avoid significant unnecessary treatment, procedures or surgery that was either not in line with the medical guidelines or not indicated for their condition.”

Personalised Cancer Management is crucial not just for better patient outcomes but also for the sustainability of healthcare systems at large. Such transformative approaches to healthcare shine as opportunities for individuals, insurers, employers and healthcare providers alike to ensure a healthier, more sustainable future.

Greater Noida, February 3rd 2024: IILM University, Greater Noida, one of the prominent educational institutions in the country, is delighted to announce its upcoming Literature Festival, scheduled to take place on the 8th and 9th of February 2024 at the university campus.

Themed “Identity Narratives: Exploring Diversity in Contemporary Literature,” the festival promises to be an engaging and thought-provoking event. Participants and attendees can anticipate a host of captivating activities that celebrate the diverse identities in literature.

”The Literature festival will serve as a dynamic platform for blending ideas and exploring new perspectives. The event is a testament to IILM University’s legacy of bringing together diverse personalities, including renowned writers, artists, readers, and thinkers, to engage in meaningful discussions and push the boundaries of literary exploration,” said Somya Sharma (Assistant Professor- Journalism and Media Studies)

Some of the key highlights of the literature festival include:

Competitions and Performances in Art and Culture 

The literature festival will feature a ‘Colourful Canvas Challenge’ based around the theme “Fluid Perspective and Identities.” This artistic challenge will witness the participants expressing their interpretations via painting. Furthermore, a cash prize of INR 10,000 will await the most enchanting creation.

Another competition and exhibition on Book Cover design will take place in the festival which will allow the participants to unleash their creativity and showcase their talent. Furthermore, It will furnish the opportunity to feature the designs in an exclusive exhibition.

Also, another key festival highlight will be the captivating cultural performances showcasing the diversity of artistic expression.

Literary Panel Discussion 

There will be a panel discussion on the theme of the festival. The esteemed panelists will be Mr Sharif D  Rangnekar (Author and Director- of Rainbow Literature Festival), Dr. Rakshanda Jalil (Author and Translator), Mr. Nirmal Kanti Bhattacharjee (Author and Editorial Director of Niyogi Books), Ms. Rachana Yadav (Managing Director of Hans Magazine), and Mr Suhail Mathur (Author and Co-founder of The Book Bakers). The discussion will nurture a comprehensive understanding of the diverse voices present in the literary world.

Book Reading Session 

An enlightening book reading session with Dr. Nandini Sen, an accomplished author will also take place that will help to gain insights into her literary work and engage in a captivating discussion about her book “The Second Wife & Other Stories” 

Author and Artist Spotlight 

The exclusive Author Spotlight will deliver a unique opportunity to gain insight into the world of the accomplished author and academician Dr. Devapriya Roy.

The Artist Spotlight session will celebrate the beautiful synergy between literature and music with Ms. Vidya Shah, a talented musician and singer.

The festival, spanning over two days, will leave a lasting impression on attendees through moments of inspiration, dialogue, and artistic brilliance.

Hong Kong’s home carrier Cathay Pacific is excited to have resumed its Chennai-Hong Kong service, with its first flight from Chennai International Airport having taken off today (2 February 2024) as part of a three-flights-per-week service. This development marks a noteworthy return to service after a four-year pause, underscoring Cathay Pacific’s commitment to delivering seamless global connectivity. 

Rakesh Raicar, Regional General Manager – South Asia, Middle East, and Africa said: “The resumption of direct flights from Chennai to Hong Kong underscores our commitment to delivering outstanding service and connectivity. Embracing our philosophy of ‘Move Beyond’, we ensure an elevated travel experience for all. With the resurgence of both leisure and business travel from Chennai, along with a noticeable increase in student traffic, we are committed to providing services that cater to the diverse requirements of our customers. The strategic significance of key routes to and from Chennai aligns seamlessly with our dedication to offering enhanced connectivity.”

The flight schedule is as follows:

First launched in June 2008, Cathay Pacific’s Chennai-Hong Kong route showcases the importance of the India market to the airline. Operated by its state-of-the-art Airbus A330 wide-body aircraft, the non-stop service provides customers with the choice of 39 Business class flat-bed seats and 223 Economy seats for the highest standards of comfort and convenience; with return fares starting from Rs. 40,900.

Given the current positive trends observed among Chennai travellers, the resumption of flight services will empower customers to plan for both leisure and business travel during the upcoming summer months in April and May.

Via its Hong Kong hub, Cathay Pacific provides connectivity to destinations across Asia and the rest of the world. In particular, it provides customers with a seamless, hassle-free and differentiated connecting experience between cities in the Greater Bay Area and Hong Kong International Airport (HKIA), offering comprehensive intermodal services including air, sea, and land options.

Cathay Pacific has introduced special fares from Chennai to key destinations, including the United States, Japan and the Philippines. These special fares will be valid until 29 February 2024, providing customers with exclusive opportunities to experience Cathay Pacific’s renowned service.

The resumption of direct flights also means additional belly capacity has been introduced for the airline’s cargo services from Chennai. This increased capacity allows Cathay to offer more time-bound solutions for the Chennai market, meeting the growing demand for efficient and reliable cargo services. This particularly benefits time-sensitive products such as perishables, mail, and courier services, ensuring regular and consistent deliveries.

Roorkee, February 03rd, 2024: IIT Roorkee, a renowned hub for innovation and excellence, is set to host the 19th edition of North India’s largest business conclave, E-Summit, from February 2nd to 4th, 2024. Organized by the Entrepreneurship Cell, this flagship event is poised to become the epicenter of originality and innovation, attracting students, disruptive founders, and global participants.

The E-Summit at IIT Roorkee stands out as a premier entrepreneurial fest, fostering entrepreneurship through a diverse range of activities, including the Startup Expo, VC Lounge, Business Conclave, Networking, Mentoring, and more. This dynamic event unites students, entrepreneurs, and investors on a global scale, providing a platform for knowledge exchange and collaboration.

This year’s theme, “Ventura Incertus,” Latin for “The Journey is Uncertain,” reflects a profound contemplation of the dynamic and unpredictable nature of entrepreneurial endeavors. The summit resonates deeply with the foundational essence of innovation, fueling the fiery passion to create and dismantle barriers that hinder progress.

The Inauguration Ceremony commenced with a heartfelt welcome speech, establishing an ambience of connection and celebration. Attendees were warmly acknowledged for their presence, underlining the importance of their collective experience. It was a distinct honour for the event that the Director of IIT Roorkee, Prof. K.K. Pant, inaugurated the proceedings. His address, complemented by the impactful Summit Theme Video, set the stage for an evening filled with inspiration and enthusiasm.

In the esteemed presence of Prof. Apurbba Kumar Sharma, Dean of Academic Affairs at IIT Roorkee, Prof. Vivek Malik, Associate Dean of Innovation and Incubation, IIT Roorkee and Mr. Manish Anand, CEO of TIH, the ceremony gained an added dimension of prestige and expertise. Their collective influence, along with the instrumental contributions of the student team, including Mr. Chirayu Mor, Secretary E-Cell, and Mr. Prithvi Raj, Convener E-Summit, added depth to the proceedings. This collaboration symbolized the harmonious spirit that defines IIT Roorkee’s unwavering commitment to excellence and innovation.

“At IIT Roorkee, our journey towards academic excellence and innovation is driven by an unwavering commitment to fostering brilliance and surpassing knowledge boundaries. Challenges are embraced as opportunities, propelling us forward. Within our institution, we cultivate an environment where curiosity thrives and transformative ideas take root. Together, we are shaping a limitless future of innovation, empowering each student to be a trailblazer on their unique path to success.”Said Prof. K.K. Pant, Director IIT Roorkee.

E-Summit 2024, hosted by IIT Roorkee, presents a diverse array of engaging opportunities for participants to immerse themselves in the world of entrepreneurship. Ideastorm, a premier case-building and pitching competition, is crafted specifically for school students, providing a dynamic launching pad for their entrepreneurial aspirations. Investors Vista sharpens minds with the acumen of sharks, enhancing investment prowess through a thoughtfully designed event. The Emerge Bootcamp, a two-week program, offers a comprehensive journey into innovation, featuring online sessions, course materials, assignments, and a final project. Productathon AI, a hackathon, brings together AI enthusiasts to collaboratively solve real-world problems, fostering innovation. Educational workshops, such as the IIQF Workshop on Stochastic modeling of financial derivatives and the Design Workshop led by Prachi Jain, Google UX Manager, provide valuable insights and inspiration.

E-Summit 2024 proudly showcases an impressive lineup of distinguished speakers, including Amit K. Agarwal, Founder and CEO of NoBroker.com, Dr. Vinod Kumar, Director at INSpace contributing significantly to the development of the Indian space ecosystem, Shireesh Joshi, Chief Business Officer at ONDC making substantial contributions to e-commerce projects, and Ganesh prasad S, Co-Founder and COO at Think School, recognized as India’s No.1 Storyteller.

Moreover, E-Summit challenges participants to push their limits, encouraging them to embrace uncertainty as a driving force for innovation and progress. As North India’s most prominent entrepreneurship summit, individuals are urged to secure their tickets and be part of the celebration of entrepreneurship at IIT Roorkee. For detailed information, please visit the E-Summit Website.

New Delhi, February 03rd, 2024: Technology company Continental is committed to creating value in the Indian market by innovating high-tech mobility solutions with a renewed commitment to localization. With its “in the market, for the market” strategy, the company is focused on establishing itself as the leader in hardware excellence, software competence, and system expertise. This implies a continued expansion of electronics manufacturing, scaling up software development capabilities, and finally, robust integration of software and electronics for a faster market introduction of cutting-edge solutions. With an evolving vehicle system architecture, the company is poised to spearhead the Software Defined Vehicle (SDV) vision in India to develop state-of-the-art vehicle system functions powered by High Performance Computer (HPC).

Prashanth Doreswamy, President and CEO, Continental India, added, “Continental India is driven by our commitment towards R&D as well as advanced technological capabilities with a dedicated focus on localization—thus bridging India with the world. Our clear roadmap emphasizes growth and value creation by leveraging technology to secure a strategic advantage in the market. By expanding our technological footprint in India, Continental aims to meet global demands in mobility.”

The Bangalore Plant which is Continental’s largest electronics plant in India and Technical Center India (TCI) will have a huge role to play in realizing the new growth strategy. Some of the recent developments include consistent investments to ramp up localization of safety and connected car technologies at the Bangalore Plant. While TCI mobilized investment of close to 1000 crore INR which included the inauguration of its new center in 2022, has grown remarkably both in terms of people and software systems competencies. Continental’s Gurgaon Plant is also striding towards localization of advanced electronic brake systems and brake-by-wire solutions. With this Continental is in a good position to front-end the dynamic market trends.

Software Defined Vehicles

In significant progress toward the future of automotive innovation, Continental has reaffirmed its commitment to pioneering Software Defined Vehicles (SDV) technology. The technology company is well-positioned to revolutionize the driving experience with its cutting-edge approach to vehicle development. As vehicles evolve into sophisticated software platforms, Continental’s renewed emphasis on SDV underscores a paradigm shift in the automotive landscape. It also promises unparalleled advancements in safety, connectivity, and overall driving convenience.

Continental has focused on multiple collaborations (Continental’s cloud-based development environment – CAEdge) to accelerate the development and validation of software features and applications for the Software-Defined Vehicle (SDV). The company, with its Plug & Play concept, has also introduced a modular and highly scalable solution for the integration of high-performance computers (HPC) in vehicle architectures. With modularity and scalability being the cornerstones of the hardware architecture, individual computing modules can now be exchanged or upgraded in the field, almost as with desktop PCs.

R&D Efficiency

India is a value-driven market, and Continental’s local strategy is to optimize and refine efficiencies by automating manufacturing plants. Committed to evaluating product demands and aligning with localization efforts, TCI is contributing to this. TCI combines the rapidly growing engineering competencies and teams in India and caters to Automotive Research and Development (R&D) requirements for Indian and global markets. Reinstating Continental’s commitment to India, TCI houses hi-tech software, hardware, and vehicle test facilities for R&D and a plethora of training centers, with each floor equipped with multiple collaboration areas. With a strong workforce, TCI is one of Continental’s largest and key R&D locations globally, catering to both global and local markets.

Sustainability Focus

Continental, with a technology focus, is committed to sustainability that spans from materials to products. Premiered globally last year, what is the most sustainable tire to date, the UltraContact NXT tire was showcased for the first time in India. With up to 65 percent renewable, recycled, and mass balance certified materials, the newtire combines a remarkably high share of sustainable materials with maximum safety and performance. At the same time, all dimensions carry the highest possible rating in rolling resistance, wet braking, and exterior noise.

Renewable materials account for up to 32 percent of the UltraContact NXT. This includes resins based on residual materials from the paper and wood industries and silicate from the ash of rice husks. Rice husks are an agricultural waste product that may be processed into silica through a new, less energy-consuming process. As in every tire, natural rubber is a key material of the UltraContact NXT. It remains indispensable as it ensures the highest tire performance properties because of its elevated level of strength and durability.

Its strategic shift towards bio-based raw materials and recycled plastics, gradually ousting traditional petroleum-based resources is a testament to Continental’s awareness and responsibility towards the environment. The reduction of carbon footprints and aligning with the global imperative of waste reduction is a byproduct of this innovative approach. Continental is also dedicated to durability and performance with scratch-resistant materials with outstanding cleaning and anti-soiling properties.

Commitment to India

Having originated in Hanover, Germany, over 150 years ago, Continental has left an indelible mark on the Indian landscape over the past 15 years through its three groups – Automotive, Tires, and ContiTech. A technology company synonymous with safe, efficient, connected, intelligent, and affordable mobility solutions, Continental’s successful journey with close to 10,000 employees spread across 12 locations supported by 7 manufacturing facilities is committed to focusing on safety, sustainability, and innovation to the Indian Markets

Continental is exhibiting an impressive array of technology and sustainable solutions for the software-defined vehicle of the future that will revolutionize mobility in India at the Bharat Mobility Global Expo 2024 being held from 1-3 February 2024 at the Bharat Mandapam, New Delhi. On display were autonomous vehicle technologies, connected car solutions, state-of-the-art tires, sustainable surface solutions, advanced display systems, and brake-by-wire solutions among others.

Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2022, Continental generated sales of €39.4 billion and currently employs around 200,000 people in 57 countries and markets.

Continental has been present in India for close to 50 years through technology partnerships (Continental Tires since 1974) and joint ventures for its various businesses. Today, the tier 1 automotive supplier, tire manufacturer, and industrial partner operates across India – with about 9000 employees across 12 locations, including seven plants that cater to the Indian market and a Technical Centre that supports Continental’s global R&D activities.

Jalandhar, 03rd February 2024: Unimoni Financial Services Ltd, a leading Non-Banking Financial Company (NBFC), is happy to announce the official inauguration of its relocated Jalandhar branch. The branch commenced its operations on 01 February 2024 at Miland Financial Center, G.F-2 B, Ground Floor, G T Road, Jalandhar.

Krishnan R, Director & CEO of UnimoniIndia inaugurated the branch in the esteemed presence of Mr. Manoj V Mathew, CFO, Mr. Rathish R, CPO, National Business Heads – Mr. Prakash Bhaskar (Forex), Mr. John George (Travel & Holidays) and Mr. Titus K (Gold Loan), Mr. Vivek Nayyar, Zonal Head- North India, Mr. Ram Lubaya Regional Head – Punjab 1, Mr. Dilawar Singh, Branch Head and other officials.

As part of its CSR initiative, Unimoni has donated school bags and one water purifier to Government Girls Senior Secondary School, Bhargo Camp during the inauguration ceremony.

“As we inaugurate our relocated branch, it is a testament to our commitment in providing with an enhanced and seamless experience. We believe just not in financial transactions, but we believe in building lasting relationships and contributing meaningfully to the communities we operate in” stated CA. Krishnan R, Director & CEO,  Unimoni India.

New Delhi, February 03rd, 2024:  Supriya Agarwal, a distinguished Fashion Entrepreneur and a Graduate of Pearl Academy, proudly announces the grand opening of her luxury couture store, House of Supriya. After completing her Fashion Design at Pearl Academy and gaining invaluable experience through an internship under one of the esteemed designer labels, Supriya has embarked on an extraordinary journey to turn her passion for fashion into a celebration of craftsmanship.

The House of Supriya promises to redefine luxury couture experiences for discerning fashion enthusiasts. Rooted in Modern Indian heritage, it serves as a haven for those who weave love into every garment they wear. Offering an eclectic range spanning from Kurta Sets to Bridal Ensembles, it presents a comprehensive selection of opulent garments crafted with meticulous attention to detail.

“We believe in celebrating craftsmanship,” says Supriya Agarwal, the visionary behind the House of Supriya. “Our designs are more than garments; they’re reflections of a journey, blending tradition with contemporary allure. Each stitch embodies the ethos of timeless elegance, inviting you to embrace heritage with a modern twist.”

In addition to luxury couture garments, the House of Supriya proudly introduces an exquisite range of menswear, bags, jewelry, and select indo-western outfits like Bundis & Nehru Jacket for Men, offering a holistic shopping experience for its esteemed clientele. Situated at D54A 100 Feet Road, Chattarpur, the House of Supriya emerges as a beacon of luxury couture, enriching the eclectic landscape of Delhi’s fashion scene. As it opens its doors, it promises a fusion of heritage and contemporary elegance, inviting patrons to indulge in a celebration of craftsmanship and style.

In its dedication to quality craftsmanship, the House of Supriya has meticulously crafted over 2000 outfits using a variety of fine, exquisite, and rare fabrics. The brand deeply values the artisanal excellence found in ancestral textiles and their revered weaves. Each fabric and loom is thoughtfully chosen and curated to showcase the finest of Indian heritage to our esteemed clients.”

Follow the House of Supriya on Instagram, Facebook, and Twitter for the latest updates and exclusive previews. Website: houseofsupriya.in

New Delhi, February 03rd, 2024: PlastFocus 2024, the much-anticipated second edition of India’s premier international exhibition in the plastics industry, kicked off  yesterday at Yashoboomi (IICC), Dwarka, New Delhi. Organised by Triune Exhibitors Pvt. Ltd. and powered by the Plastic Machinery Manufacturers Association of India (PMMAI), the 5-day PlastFocus 2024 is supported by the Ministry of Chemicals and Fertilizers and the Ministry of Heavy Industries, Govt. of India.

The event was inaugurated by Mr. Sandeep Engineer, Chairman & Managing Director of Astral Limited, in the presence of industry leaders including Mr. Mahendera Patel, Chairman Emeritus, PMMAI, Mr. Tushar Parikh, Chairman, PMMAI & Mr. Bill Shukla, Vice Chairman, PMMAI. Other dignitaries present at the occasion were Mr. Sunil Jain, Hon Treasurer, PMMAI, Mr. Chandrakanth Patel, Joint MD, Mamta Machinery, Ms. Khushboo Doshi, MD, Rajoo Engineers Ltd., Mr. Vinay Bansod, Executive Director & CEO, Windsor Machines and Mr. Rajkumar Lohia, MD, Lohia Machines . Dr. Falco Paepenmuller, CEO, Windmoeller & Holscher was the Special Guest at the occasion.

Mr. Sandeep Engineer expressed his enthusiasm regarding the Plastic industry stating that, “Next 10 Years are going to be the best years of the Indian Industry. India is going to grow at an enormous pace in various businesses. Today we have to import certain machines from developed countries- let’s bring this technology to India. When the buyers are here why can’t the manufacturers be here? Machine manufacturers must invest in more plants to provide machinery for the country.  With every edition of PlastFocus, the Expo and the industry will keep growing and new technologies from Indian manufacturers will be show cased“

This edition of PlastFocus covers an expansive area of 1,00,000 sq meters, hosting 1200 stalls and attracting more than 50 international exhibitors from around 18 countries in addition to the participants from every corner of India. Over 300 cutting-edge machines are the star attraction at the event.

 Mr. Cyril Pereira, Managing Director of Triune Exhibitors Pvt. Ltd. highlighted the significance of the event, stating, “In the realm of innovation, the plastics industry stands as a testament to human ingenuity. Transforming possibilities into tangible solutions, plastics have become the building blocks of progress, shaping a future where sustainability, creativity and efficiency converge. PlastFocus 2024 is not just an exhibition; it’s a convergence of ideas, technologies, and businesses that drive the plastics industry forward. “

Mr. Tushar Parikh, Chairman of PMMAI, shared his insights, “Within the vibrant tapestry of India’s plastics industry, each thread is woven with innovation and resilience. As we explore  PlastFocus 2024,  we witness a harmonious dance between technology and sustainability, shaping a future where India’s ingenuity propels us towards a greener and more sustainable tomorrow.”

The plastics industry plays a pivotal role in the economy contributing significantly to GDP and providing employment opportunities. PlastFocus 2024 is a comprehensive showcase of innovations, spanning raw materials to cutting-edge technology, fostering collaborations that shape the industry’s future. Attendees can explore the plastic production lifecycle, emphasizing environmental sustainability and circular economy principles. The Recycling Pavilion underscores the industry’s commitment to responsible plastic usage.

As the event unfolds over the next few days around 2 lakh industry professionals, exhibitors, and visitors alike can expect a dynamic and engaging experience that will shape the trajectory of the plastics industry towards a more sustainable and innovative future.