Archives January 2025

Chandigarh, January 28, 2025: The renewables business vertical of L&T has been selected by Masdar, as one of the preferred Engineering, Procurement, and Construction (EPC) contractors for the north site of the world’s first 24/7 solar PV and battery storage Giga scale project which will be built in Abu Dhabi.

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, in collaboration with EWEC (Emirates Water and Electricity Company), announced at Abu Dhabi Sustainability Week (ADSW) that it is developing the Giga scale project, capable of delivering up to 1 gigawatt (GW) of baseload power 24 hours a day, seven days a week.

The project will feature a 5.2GW (DC) solar photovoltaic (PV) plant and both coupled with a 19 gigawatt-hour (GWh) BESS, making it the largest solar and BESS project in the world. The project will constitute a north site and a south site, amounting to 2.6GW and 9.5GWh PV capacity each.

The ceremony took place at Abu Dhabi Sustainability Week in the presence of His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar. The Letter of Award was signed by Mr. Abdulaziz Alobaidli, Chief Operating Officer, Masdar, and Mr. A Ravindran, Senior Vice President & Head – Renewables IC, L&T in the presence of Mr. T Madhava Das, Whole-Time Director & Sr. Executive Vice President (Utilities), L&T.

Mr S N Subrahmanyan, Chairman & Managing Director – Larsen & Toubro, said: “The foresightedness coupled with definitive actions reflect UAE’s leadership role in accelerating sustainable economic progress. L&T is determined to bring in advanced capabilities for the global energy transition.”

Mr T Madhava Das, Whole-time Director & Sr Executive Vice President (Utilities) – Larsen & Toubro, said: “We are happy that our trusted partnership with Masdar has culminated in such a coveted opportunity to advance the deployment of clean energy projects in the region. With our all-round capabilities in dispatchable renewable generation, power T&D and digital solutions we are deeply committed to deliver this ultra-mega project that fuels futuristic ambitions”.

Chandigarh, January 28, 2025: Samvaad, one of the largest tribal conclaves in India, by Tata Steel Foundation returns to the Kala Ghoda Arts Festival (KGAF) for its second year. It is set to bring a vibrant tapestry of tribal art and culture to the 25th edition of one of the most iconic arts festivals of Mumbai, taking place from January 25 to February 2, 2025.

As part of the Samvaad X Kala Ghoda collaboration, four tribal artisans from Jharkhand and Odisha have created 25 artworks for a special installation. These artworks celebrate the 25-year legacy of the Kala Ghoda Arts Festival and represent five diverse tribal art forms: Sohrai, Paitkar, Saura, Juang, and Gond. The artists, Nandini Singh, Lakhimoni Sardar, Dinabandhu Soren, and Dhirendra, are entrepreneurs at self-help groups based out of the two states. Their creations not only pay homage to the esteemed festival but also share the rich stories and traditions of tribal art and culture.

Sourav Roy, CEO, of Tata Steel Foundation, said: “Samvaad’s collaboration with Kala Ghoda Arts Festival is a testament to our commitment to bringing the unique and diverse expressions of tribal art and culture to a wider audience. Building on the success of last year’s partnership, we are thrilled to continue this journey and introduce the captivating stories and rich traditions of tribal art to the urban landscape. We welcome you to be a part of this journey and witness the diverse tales of Samvaad.”

Tribal Artisans Showcase Their Crafts:

Throughout the nine days of the festival, Samvaad will host two stalls every three days, featuring the works of 12 artisans from various tribes and states across India. These stalls will offer a unique glimpse into their traditions and showcase their intricate handicrafts and artforms, emphasising the importance of natural elements and sustainable practices.

• Suluk Kumba (Santhal Tribe, West Bengal): This stall, meaning “beautiful family,” will showcase intricate Santhal handicrafts woven from date leaves and fibers, highlighting their traditional use of natural materials.
• Bamon Handicrafts (Jaintia Tribe, Meghalaya): Featuring a range of cane and bamboo products, this stall will offer handmade daily use items and decorative pieces like baskets, mats, runners, and wall hangings.
• Srujanika Co-operative Society (Gopalpur): This self-help group will present Saura art on bamboo silk, canvas, frames, clocks, and magnets.
• Pragati Udyog Mahila Samiti (Potka, Jharkhand): This women-led self-help group will showcase their creations, including woodwork, handmade cloth bags, magnets, Sohrai art frames, and other decorative items.
• Ontor (Santhal Tribe, Bengal): This stall will feature authentic Sohrai art, including cushion covers, candles, and wall décor.
• Bodo Weaves (Bodo Tribe, Assam): Offering a diverse range of woven fabrics, this stall will showcase shawls, sarees, mats, carpets, and other textile products.

Panel Discussion on the Future:

A key highlight of this year’s edition will be a panel discussion at David Sassoon Library on January 31, 2025, featuring individuals who deeply understand the earth and its challenges. Panelists, including Tsewang Nurboo (Boto Tribe, Ladakh), Mijing Nazary (Bodo Tribe, Assam), and Kiran Khalkho (Oraon Tribe, Jharkhand), will share their insights and perspectives, moderated by Sourav Roy, CEO of Tata Steel Foundation.

New Delhi, January 28, 2025: Greko India today announced that it is all set to bring Mikel Coffee, one of the world’s fastest-growing coffee chains, to India through a partnership that will see the first store being launched in Delhi-NCR.

Greko India is the exclusive master franchise partner for Mikel Coffee in India. It offers a comprehensive gateway to Europe through the Greece Golden Visa program. The company aims to strengthen partnerships between India and Greece through economic partnerships and cultural exchanges.

Mikel Coffee, which is headquartered in the Greek city of Larissa, has created a strong wave in five continents, across 19 countries with 375 stores in its network. This expansion in India will be Mikel Coffee’s first footprint in South Asia.

Known for its rich aroma, distinct flavors, and exquisite experiences, Mikel Coffee was started in 2008 in Larissa, Greece by its Founder and CEO, Eleftherios Kyriakakis. It is celebrated across the world for its artisanal brewing techniques and will now offer Indians a slice of authentic Greek coffee culture.

Commenting on the entry of Mikel Coffee in India, Founder & CEO of Greko India, Gaurav Wadhera said, “We are extremely thrilled to announce that one of the world’s most loved coffee chains, Mikel Coffee, is coming to India. Despite being a tea-loving country, India’s coffee market has been growing exponentially. As per industry estimates it is expected to touch $1.2 billion growing at a CAGR of 9.8%.Since 2008, Mikel Coffee has made a strong reputation worldwide by setting new benchmarks for cafe culture. We are committed towards unlocking exceptional value for Mikel Coffee in India.”

Speaking on the partnership, Eleftherios Kyriakakis said, “We are excited to be finally in one of the fastest growing economies in the world. Our presence in India offers us immense possibilities as the coffee market is expanding fast. The Indian market has evolved over the last few years with a growing appreciation and taste for an artisanal brewing experience. Our partnership with Greko India in bringing Mikel Coffee is a testament to our commitment of offering the finest in rich Greek heritage to Indian consumers.”

After launching the first outlet in Delhi NCR with a concept of a cafe-restaurant,Mikel India has an aggressive expansion plan. The brand is keen on making inroads in key markets like Delhi, Mumbai, Hyderabad, Kolkata, Pune, Chennai and Bengaluru in coming years. Each outlet will offer coffee aficionados Mikel Coffee’s distinctive aesthetics and warm, welcoming ambience. The partnership also underlines Greko India and Mikel Coffee’s commitment to sustainability and community development.

Rahul Jain – CFO, NTT DATA Payment Services India

The Union Budget 2025 should allocate more funds to incentivize the use of low-value BHIM UPI-based payments and Rupay debit cards. Bank and payment service providers and NPCI typically incur a cost of nearly 0.25% of the transaction value for processing a UPI P2M transaction. As UPI continues to rise exponentially, the payment ecosystem needs to invest in emerging technologies such as Artificial Intelligence (AI), face recognition payments, and blockchain. These technologies will make the digital infrastructure more robust, ensuring the safety of digital payments. To address the rising concerns of digital fraud, it is essential to create stringent mechanisms to mitigate these risks. Strong government support for the digital payment ecosystem, along with streamlined policies, can foster financial inclusion, innovation, and growth in the fintech sector. Additionally, targeted initiatives for employment generation and skill development will further bolster this growth. By focusing on these areas, the Union Budget 2025 can play a pivotal role in enhancing the digital payment landscape and ensuring a secure, inclusive, and innovative financial ecosystem.

National, 28 Jan 2025: Nu Republic introduces the “Girl Pwr” product line – a vibrant line-up of colorful, stylish TWS earbuds and super slim power banks, designed for women who demand more than just functionality. These aren’t your standard black tech accessories—they’re bold, beautiful, and made to complement your vibe, not cramp it.

The GRL PWR Collection is all about blending fashion and function. It’s tech you’ll want to show off, not tuck away. From dynamic colors to sleek designs, these earbuds are meant to be worn like your favorite accessory, making a statement wherever you go.

The GRL PWR Collection from Nu Republic® features the crowd-favorite Epic X3 True Wireless Earbuds in bold, eye-catching Hot Pink and Teal Green, adding a splash of personality to your daily tech. Complementing the earbuds is the sleek Powerpop X1 5000mAh power bank, also available in matching shades of Pink and Teal Green—perfect for tech that’s as stylish as it is functional.

Customers can choose between standalone products or opt for the specially curated gift pack, an ideal choice for celebrating the women in your life who value individuality and style.

Speaking about the launch, Ujjwal Sarin, Founder of Nu Republic®, said: “We want women to ditch the boring blacks, grays, and whites, and embrace colors that let them stand out and express their unique style with confidence.”

Shibani Akhtar, the brand ambassador for Nu Republic®’s GRL PWR campaign, shared her excitement:”I’m absolutely thrilled to be the face of Nu Republic®’s GRL PWR Series. This initiative feels deeply personal to me because it’s about more than just products—it’s about encouraging women to own their space, unapologetically. I’ve always believed that confidence and self-expression are two of the most powerful tools we have as women, and the GRL PWR series embodies that perfectly. From the bold colors to the innovative features, it’s a reminder that we should never shy away from standing out. I’m excited to be part of a campaign that celebrates individuality and empowers every woman to embrace her own unique power.”

In an exciting collaboration, Nu Republic® has launched the GRL PWR series on Swiggy Instamart, allowing consumers to access this innovative and stylish collection in just 10 minutes. This partnership delivers cutting-edge lifestyle tech directly to customers’ doorsteps with unmatched convenience.

Speaking on the launch, Hari Kumar G, Chief Business Officer, Swiggy Instamart, said, “At Swiggy Instamart, we are committed to offering our customers unique and exciting products, and the GRL PWR series by Nu Republic aligns perfectly with this vision. Gadgets are no longer just functional; they have become an extension of personal style. The GRL PWR series breaks away from traditional monotone designs, introducing a vibrant range of colorful, fashionable tech that embodies personality and confidence. This partnership merges bold design with everyday utility, catering to the large demographic of women users on Swiggy Instamart. We’re thrilled to offer these one-of-a-kind products, bringing style and convenience together in one place.”

January 27, 2025, Mumbai: The Board of Directors of DCB Bank Ltd. at its meeting in Mumbai on January 24, 2025, approved the unaudited financial results for the quarter ended December 31, 2024 (Q3 FY 2025) along with limited review report by statutory auditors ‘Varma & Varma, Chartered Accountants’ and ‘B S R & Co. LLP, Chartered Accountants’.

Highlights:

1) The Bank’s Profit After Tax (PAT) for Q3 FY 2025 was at INR 151 Cr. In comparison Profit After Tax for Q3 FY 2024 was at INR 127 Cr., growth of 20%.
2) Advances growth year-on-year was at 23% and Deposits growth year-on-year was at 20%.
3) The Gross NPA as on December 31, 2024 was at 3.11%. Net NPA was at 1.18% as on December 31, 2024.
The Provision Coverage Ratio (PCR) as on December 31, 2024 was at 74.76% and PCR without considering Gold Loans NPAs was at 75.56%.
4) Capital Adequacy continues to be strong and as on December 31, 2024, the Capital Adequacy Ratio was at 16.29% (with Tier I at 13.54% and Tier II at 2.75% as per Basel III norms).

 Speaking on the Q3 FY 2025 results Mr. Praveen Kutty, Managing Director & CEO said, “We are happy to see the consistency of growth momentum both on advances and deposits. NIM has shown an uptick and fee momentum remains robust. While there are headwinds in the microfinance and unsecured space, we are able to improve the overall asset quality. The focus on productivity is improving the cost income ratio. We expect these positive trends to continue in the times ahead”.

By-Pratip Mazumder, Country Manager-India, inDrive

Changing customer preferences towards convenience, comfort and reliability, thrust by the government through conducive policies, proliferation of digital technologies and ubiquitous Internet connectivity have significantly impacted the ride-hailing industry in the past decade. 2024 was a year of technological advancements and sustainability, reaffirming the dynamic nature of the industry. With the advent of new year businesses must stay ahead of the latest trends to maintain a competitive edge. Here are the key ride-hailing trends that will redefine urban mobility in 2025.

Customer centricity as the key differentiator: Today, customers are discerning and have ample options to choose from. Customer centricity will continue to be the key differentiator to stand out from the competition and maximise customer experience. Although technology is an enabler of customer satisfaction, it is a means to an end, i.e., enhancing customer experience. Hence, brands that prioritise greater autonomy to the customer in terms of choosing the vehicle, pricing and driver rather than solely leaving it to technology to determine these parameters will have an edge over their peers.

Safety critical for survival of ride-hailing: Safety is a foremost priority for the ride-hailing industry as it is the critical determinant of its survival. While brands go the extra mile to leverage cutting-edge technology to ensure safety, the latter’s implications go beyond the secured vehicle. Safety can be understood as the three-sided pact between the driver, passenger, and ride-hailing brand, with mutual responsibility and equal accountability for all parties in each ride.

Gig models for driver-partners gaining traction: With hybrid employment models and a preference for flexibility gaining traction, ride-hailing has become a preferred freelancing option. Many ride-hailing companies are now offering health and leave benefits as part of drivers’ contracts, emerging as a sought-after gig platform.

Tier 2 and 3 towns to drive growth: In 2025, companies will increasingly prioritise Tier 2 and Tier 3 cities and underserved suburban markets by investing in infrastructure and partnerships in these areas for growth. Rapid infrastructural and technological advancements, a wide customer base and weak public transportation systems augur well for ride-hailing businesses to expand in these cities.

Ride hailing to integrate with micro-mobility and public transport: The shift beyond Tier 1 and metropolitan cities and subsequent scale-up of ride-hailing platforms will help bridge transportation gaps in underserved regions and integrate ride-hailing with multimodal platforms. 2025 will witness ride-hailing apps evolve into holistic mobility solutions, enabling commuters to plan seamless trips and integrate public transport, ride-hailing, and micro-mobility options within a single app.

Emergence of localised and decentralised platforms: Platforms allowing commuters to choose drivers, vehicles, and pricing will thrive, empowering users to have greater negotiation power over service quality. Hyperlocal platforms closely tailored to the cultural and economic needs of the region, with their ability to foster an emotional connect with potential users, will gain traction.

Ride hailing to evolve beyond transportation systems: Ride-hailing systems are more than just transportation systems; they are trusted partners in urban mobility. In 2025, ride-hailing systems will metamorphose into broad ecosystems, offering a suite of services such as shopping, digital payments, and logistics—all rolled into one.

In addition to the above, the push towards sustainability, the emergence of autonomous vehicles, and enhanced security in-app features will be the trends to watch out for in 2025.

28 January 2025, Mumbai: The final leg of the Standard Chartered Cup 2024, India Edition, successfully concluded in Mumbai with Tata Consultancy Services, Kolkata, team emerging victorious. The 5-a-side, 10-minute corporate football tournament witnessed football action with 7 winning teams from seven cities competing for the coveted trophy and prize.

In the end, Tata Consultancy Services, Kolkata, team defeated Tata Consultancy Services, Hyderabad, team (4 – 0) to emerge as the winner of the India edition of Standard Chartered Cup 2024.

The finale event was graced by Liverpool Football Club legend, Steve McManaman, along with senior officials from Standard Chartered Bank, India.

The winning team will visit Anfield, the iconic home of Liverpool Football Club to witness the Reds in action and have the privilege of soaking in the electrifying atmosphere of a live English Premier League match. They will also get an exclusive stadium tour, including a behind-the-scenes entry to the Dressing Room of the Home Team and the iconic Player’s Tunnel.

Speaking at the occasion Nitin Chengappa, MD, Head Affluent Distribution & Branch Banking, Standard Chartered Bank, India, said, “SC Cup 2024 gave us unforgettable moments to cherish with some great games coupled with fierce competition and team spirit. The tournament is in line with what the Bank, which has been present in India for over 165 years, aspires to achieve – continuously communicating with clients across the world based on our brand promise of ‘Here for good.’ Huge congratulations to the winning team on their outstanding achievement and we extend our appreciation to all participating teams for showcasing remarkable sportsmanship and dedication throughout the tournament.”

Liverpool Football Club legend, Steve McManaman said, “I would like to congratulate the winning team. It’s been a fascinating experience to soak in the sights and sounds of Mumbai and interact with football enthusiasts. I would like to thank Standard Chartered Bank for giving me the opportunity to visit Mumbai and engage with the employees and the participating teams.”

Standard Chartered’s partnership with Liverpool FC started in 2010 and it is one of the longest associations in the Premier League. The Bank is the second longest running Front of Shirt sponsor in the Premier League. In India, football has a sizeable following, particularly for marque clubs like Liverpool FC. Among Standard Chartered Bank’s top 7 markets, India is ranked one among the Liverpool FC internet connected followers and for the social and digital followers.

Mumbai, January 28, 2025: UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced its robust financial performance for the Quarter and Nine-month Period ended 31st December 2024. The company recorded its highest-ever quarterly loan origination of INR 2,098 crore, surpassing INR 1,552 crore in the same quarter last year. Its Emerging Markets Secured Loans (erstwhile Micro Enterprises business) experienced significant growth, with disbursements at INR 543 Cr in Q3’FY25, up from INR 180 crore in Q3’FY24, underscoring UGRO Capital’s commitment to empowering small businesses.

UGRO Capital sustained its growth momentum in Q3’FY25, achieving an AUM of INR 11,067 crore as of Q3’FY25 representing 32% increase compared to Q2’FY24. This surge can be attributed to increasing net loan origination, the opening of 74 new branches in the Emerging Market Segment in 9MFY25, achieving the highest-ever disbursement, Embedded Finance growth, and a data-driven underwriting model that together enable consistent quarterly disbursals of over INR 1,000 Cr.

In terms of financial performance, UGRO Capital reported a total income of INR 1,030 crore for the nine months (9M’FY25), reflecting a 37% YoY growth. For Q3’FY25, total income stood at INR 385 crore, marking a growth of 38% YoY and 12% QoQ. The PAT for 9M’FY25 scaled up to INR 103 crore, up 19% YoY, while Q3’FY25 PAT was INR 37 crore, reflecting an impressive 15% YoY and 6% QoQ increase. The company achieved net disbursements of INR 5,215 crore in 9M’FY25, reflecting 21% growth, with Q3’FY25 net disbursements reaching INR 2,098 crore, up 6% QoQ.

On the liability side, UGRO Capital mobilized its highest-ever debt of INR 1,400+ crore during Q3’FY25, bringing its total debt to INR 6,151 crore as of December 2024. The robust quarterly performance, coupled with optimal GNPA/NNPA metrics of 2.1%/1.5%, highlights the quality of UGRO’s portfolio and reflects a well-structured risk management framework. UGRO Capital’s distinctive co-lending approach, accounts for 44% of its off-book AUM, and its strategic partnership with 16 Co-lending partners, 59 lenders, over 60 fintechs, and 730+ GRO partners, facilitates data-driven, tailored financial solutions for more than 1.6 Lakh MSMEs across India.

Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Our strong growth trajectory demonstrates the resilience of our business model and our unwavering focus on serving the MSME sector. The GRO Score patent exemplifies our commitment to innovation, and our growing branch network ensures deeper penetration into underserved markets. We aim to scale our micro-enterprise portfolio to ~35% of AUM by March 2026, driving yield expansion and fostering financial inclusion. As we move forward, we are confident in achieving our strategic goals while continuing to empower MSMEs across the country.”

By-Dr. Bhaskar Bhuvan, Consultant-Medical oncology, HCG Cancer Center – Vizag

 Lung cancer is one of the leading causes of cancer-related deaths worldwide, accounting for over 1.7 million fatalities annually. In India, lung cancer is a significant public health concern ranking second among male cancers, with a substantial number of cases occurring among middle aged and older adults. The reported death rate due to lung cancer in India was 75,031 patients in year 2022 according to Globocon 2022.

 The Age-Related Risks of Lung Cancer
Lung cancer predominantly affects older adults, with the risk of developing this disease increasing significantly with age. This upward trend in lung cancer risk is particularly pronounced after the age of 60, with most lung cancer cases being diagnosed among people aged 65 years and above. According to the American Cancer Society, the average age at diagnosis for lung cancer is around 70 years old. But, in India, the average age of lung cancer diagnosis is 59 years which is a decade earlier than western countries. This age-related risk is attributed to the cumulative effect of exposure to carcinogens (cancer causing agents) over time, as well as the natural decline in immune function and cellular repair mechanisms that occurs with aging. As a result, older adults are more susceptible to the damaging effects of carcinogens, such as tobacco smoke, air pollution and radiation exposure which can increase the risk of lung cancer. Furthermore, older adults may also be more likely to have underlying health conditions, such as chronic obstructive pulmonary disease (COPD), that can increase the risk of lung cancer.

 Why Age is a Significant Risk Factor for Lung Cancer
Age is a significant risk factor for lung cancer due to several reasons. As we age, our cells accumulate genetic mutations that can increase the risk of cancer. Our immune system also weakens with age, making it more challenging for our body to fight off cancer cells. Furthermore, older adults may have been exposed to carcinogens, such as tobacco smoke and air pollution, for a longer period

 The Importance of Early Screening
Early screening is crucial in detecting lung cancer at an early stage, when it is more treatable. Screening tests for lung cancer include Low-Dose Computed Tomography (LDCT) and Chest X-Ray. These non-invasive tests use low-dose radiation to produce detailed images of the lungs.

 Whom to get lung cancer screening
Age above 50 years up to 80 years.
Smoking history of one packet of cigarettes per day over and above 20 years
Who does not quit smoking in the last 15 years

 Reducing the Risk of Lung Cancer

 While age is a significant risk factor for lung cancer, there are steps we can take to reduce our risk. Quitting smoking is the most effective way to reduce the risk of lung cancer. Avoiding exposure to carcinogens, such as air pollution and asbestos, and maintaining a healthy lifestyle, including a balanced diet and regular exercise, can also help reduce the risk of lung cancer.

 Lung cancer is a significant public health concern in India, with most cases occurring among middle aged and older adults. While age is a significant risk factor for lung cancer, early screening and reducing the risk factors can help detect and treat this disease. By prioritizing our health and taking proactive steps, we can reduce our risk of lung cancer and improve our overall health and wellbeing.