All posts by Rabindra

Austin, TX – August 17, 2024 – WSO2, a leading global provider of digital transformation technologies, said today that its acquisition by EQT, first announced May 3, 2024, has completed. EQT will support WSO2’s next phase of accelerated growth and innovation by drawing on EQT’s deep experience in the software space, global network of industry experts, and dedicated digital value-creation team.

Since its inception in 2005, WSO2 has been at the forefront of building innovative software that allows organizations to seamlessly deliver digital experiences. Today, WSO2’s platform offers a complete set of market leading solutions across integration, API management, identity & access management (IAM) and application development. Thousands of organizations, including hundreds of the world’s largest corporations, top universities, and governments, rely on WSO2’s cloud native software as a service (SaaS) and open-source offerings to drive their digital initiatives — executing 60 trillion transactions and managing over 1 billion identities each year.

WSO2 now joins EQT’s extensive global portfolio of enterprise software companies, which includes firms such as Virtusa, Billtrust, IFS, SUSE, Storable, thinkproject, and Waystar.

New WSO2 Board Positions WSO2 for Accelerated Growth

With the acquisition, a new board of directors has been formed to spearhead the next stage of WSO2’s growth. Leading the board as chair is Jonas Persson, who formerly served as CEO of Microsoft Sweden and has been the chairperson for several portfolio companies like Suse, Acumatica, IFS and Sitecore. He is joined by Hari Gopalakrishnan, a partner in the EQT Private Capital Asia advisory team and Global co-head of EQT’s services sector team, and Dr. Sanjiva Weerawarana, who founded WSO2 and will continue his role as CEO.

“WSO2 is a strong enterprise software company that has delivered a proven track record of innovation and scaled to address the digital transformation demands of enterprises worldwide,” said Jonas Personn, WSO2 board chair. “I am excited to partner with WSO2’s management team in building on this momentum to accelerate the company’s growth and global adoption.”

“We are excited to collaborate with Jonas, Hari and the EQT team in accelerating our innovation agenda, expanding our global footprint, and empowering enterprises to thrive in the digital economy,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO. “With EQT’s support and the deep expertise of our new board members, we are well-positioned for this next stage of WSO2’s evolution.”

Mumbai, 17th August 2024: The Tata Mumbai Marathon, since its inception in 2004, has heralded a change that redefined the sporting landscape in India. This movement has unleased the power of participative sport and has personified the pulse of Mumbai – a pulse that brings us together, no matter what the circumstances…#HarDilMumbai.

The landmark 20th edition of the Tata Mumbai Marathon is scheduled to take place on Sunday, 19th January 2025 and will be flagged off from the iconic Chhatrapati Shivaji Maharaj Terminus. Procam International, promoters of Asia’s most prestigious marathon, today announced that registration for the event will commence on 14th August 2024, at 7a.m. on www.tatamumbaimarathon.procam.in.

Shri Chhagan Bhujbal, Hon’ble Minister, Food & Civil Supplies, Government of Maharashtra, said “I still remember the moment 20 years ago when Tata Mumbai Marathon started, and while the beginning was shaky, thanks to the love and support shown by the people of Mumbai, the government, and other stakeholders, it has now come a long way to become the festival of Mumbai, a truly endearing and resilient symbol that captures the vibrant spirit of our city. Thus, even in 2008, when massive terror attacks stuck the city, it was this ethos of “Never Back Down” that triumphed in the end. Lacs of people from all backgrounds and walks of life came down to cheer the runners, a true ocean of humanity, standing united to celebrate sports, irrespective of religion, race, age, gender, and creed.

The success of the Tata Mumbai Marathon didn’t happen in a vacuum; credit must go to the people of Mumbai, innumerable sponsors, and other key stakeholders, including MCGM and Mumbai Police, for truly making this marathon phenomenal and iconic. And the transformative impact accrued from it can’t be ignored, with hundreds of crores raised for countless charities.”

Shri Rahul Narwekar, Hon’ble Speaker of the Maharashtra Legislative Assembly, said “It is indeed a moment of pleasure and pride for me to be here, year after year, to attend a function that symbolises the relentless spirit of Mumbai. The Tata Mumbai Marathon is not just iconic; it also perfectly encapsulates the spirit of a United India and the transformative strength of our diversity, making it a landmark occasion that everyone truly follows. It also adds an added layer of interest to our city, long known for being India’s financial capital and a true melting pot, defining it in more ways than one by brilliantly capturing its unparalleled dynamism and vibrance. On that note, I’d like to congratulate Procam for making us proud by hosting the event for more than two decades. I also humbly extend a warm welcome to all stakeholders to Colaba, my constituency, on the 19th of January, 2025. We pledge to provide all support possible to make this event a grand success.

Adrian Terron, Head – Brand & Marketing, Tata Sons, “The Tata Mumbai Marathon has become a foundational event for both, the city of Mumbai and the Indian sporting calendar as part of the broader movement of participative sport across the globe. We are excited to continue our support for this transformative initiative that embodies the spirit of perseverance and brings together an ever-growing community of citizens in the act of collectively celebrating the human spirit.”

The Tata Mumbai Marathon has paved the way for a holistic approach to sports in India. From year one, it has instilled the importance of an active lifestyle and led to the popularity of the sport. Today, running is the fastest-growing participative sport in the country with 700 running events and 700+ run clubs. Over the years, the event has empowered women’s participation with 30% of the total participants being women. Moreover, its inherent inclusive nature provided a centre stage for senior citizens and persons with disabilities to join the sport.

This World Athletics Gold Label Race provided Indian athletes an opportunity to compete with the best in the world and win laurels for India. Besides sport, the platform has been a silver lining for the social sector. Additionally, it has led to the development of a thriving ecosystem around the sport contributing to the socio-economic health and environmental sustainability of Maharashtra.

Ujjwal Mathur – SVP & Country Head – India Business, TCS, “As we celebrate the 20th edition of the Tata Mumbai Marathon, we are inspired by its remarkable journey. What began as a sporting event has blossomed into a powerful symbol of Mumbai’s indomitable spirit. The marathon’s success is fuelled by the passion of its ever-growing community of runners and fitness enthusiasts. As long-standing supporters and pioneers in running events, TCS firmly believes in the transformative power of sports to promote health, unity, sustainability, and social impact. The marathon amplifies our brand’s commitment to wellness, which is deeply integrated into our corporate culture. In its 20th year, the Tata Mumbai Marathon will continue to inspire countless stories of personal triumph and forge bonds among runners, the ripple effect of which represents its true power and our collective potential to make a difference.”

Naarayan TV, CMO, IDFC FIRST Bank, “IDFC FIRST Bank is thrilled to be the exclusive Associate Partner of the TATA Mumbai Marathon. This iconic event celebrates the indomitable spirit of Mumbai and its people.. One of the core pillars on which IDFC FIRST Bank is built on, is Social Good. The eponymous event aligns with that philosophy as it provides a meaningful platform for community building and making a positive impact. Continuing with our marathon theme of #JourneyToTheStart, IDFC FIRST Bank will celebrate every runner who takes the first step towards a healthy lifestyle. Every runner who completes the respective run within a stipulated time period will be eligible for a specially designed IDFC FIRST Bank Runner’s Tee We look forward to an event that unites individuals from all walks of life, radiates energy and enthusiasm”.

India, August 17, 2024: Verizon India, a leading IT and Technology Global Capability Centre (GCC) in partnership with BHUMI, an Indian NGO has successfully established 77 STEM Labs and Smart classrooms across Tamil Nadu, Telangana and Karnataka with its School Transformation Program. This corporate social responsibility focused program aims to drive qualitative empowerment of school students which benefit over 40,000 students across select cities in Southern India.

The School Transformation Program is designed to equip students studying in Classes 6-12 in government schools with a robust STEM (science, technology, engineering and mathematics) education platform. A total of 77 government schools across Tamil Nadu, Telangana and Karnataka were furnished with STEM labs focused on diverse subjects including Mathematics, Robotics and powered by interactive smart boards, digital infrastructure like PCs as well as robust lab furniture. The STEM Labs and Digital infrastructure were established after thorough student baseline assessments, teacher awareness tests and feasibility studies to ensure the right infrastructure for each specific location and school.

Through the partnership with BHUMI, STEM sessions were also designed and conducted for students studying in Classes 6–9 providing them with dedicated hands-on experience to explore various facets of science. Necessary digital infrastructure was also set up to bridge the digital literacy gap in identified schools. To demonstrate their learnings from the sessions, STEM fests are conducted periodically in the schools. BHUMI also implements capacity-building sessions twice every quarter for teachers and once every quarter for trainers to equip them with the right tools and updated resources to facilitate seamless learning to the students.

“Verizon India understands its role in enabling and equipping young minds across various socio-economic backgrounds to solve complex challenges through technology. Reports from industry bodies suggest that GCCs like Verizon are becoming one of the most preferred employment avenues for the top STEM graduates in India. I am thus proud to note that we have successfully impacted the lives of 40,000+ students across India. By imparting digital learnings and high-quality training for both the trainers as well as young minds through the School Transformation Program we have successfully aided in enhancing the digital literacy quotient as well as created a strong talent pipeline for the nation. We are committed to bridging the digital divide and contributing to a more advanced and inclusive nation” said, Mr. Prasad V. Annadanam- Senior Director, Finance for Verizon India.

Ms. Vaishnavi Srinivasan- Executive Director, BHUMI, said, “Our collaboration with Verizon India has been instrumental in bringing quality STEM education to students. By providing essential resources and training, we are not only enhancing their academic experience but also preparing them for a future where digital literacy is crucial. We are proud to be part of this transformative initiative that truly makes a difference in the lives of these young learners.”

Barriers like outdated teaching methods, lack of digital and computing infrastructure as well as lack of training for the trainers impede the balanced growth of the young learners. Through the School Transformation Program, VERIZON and BHUMI encouraged diverse stakeholders to participate in comprehensive online and offline discussions on the effective implementation of pedagogical techniques, helping inculcate a child-centric educational approach. Students also received training in digital literacy and interpersonal skills to maximise the benefits of the digital infrastructure provided. India’s National Education Policy from 2020 indicates that focusing on quality STEM education is the key to embracing critical thinking. Igniting the passion for learning and experimenting in STEM sciences is critical to ensuring that India and its citizens transition to a knowledge based economy.

India, August 17, 2024 – With the arrival of the holiday season in India, it is to be expected that the use of mobile devices for outdoor activities as well as holiday travel increases. Check Point® Software Technologies Ltd.  a leading AI-powered, cloud-delivered cyber security platform provider, warns that hackers take advantage of the higher usage of smartphones during vacations. In fact, according to the latest data from the Check Point Software Threat Intelligence Report for July 2024, 1 out of every 4 organizations suffered from a malicious incident, with 179 different fraudulent applications and 16,777 risky apps identified. In fact, an organization in India is being attacked on average 3163 times per week in the last 6 months, compared to 1587 attacks per organization globally and it is expected to rise even more as the holiday season approaches.

Additionally, the Global Threat Index for June 2024 revealed that Joker, an Android spyware on Google Play designed to steal SMS messages, contact lists, and device information, ranked first as the most widespread mobile malware, followed by Anubis (a banking trojan malware designed for Android mobile phones) and AhMyth (a remote access trojan).

Cybercriminals take advantage of this time of year when security measures are also relaxed. They use phishing websites that appear legitimate, such as those of banks, to steal personal information by tricking users into entering their data. Additionally, connecting to public Wi-Fi networks in places like hotels and cafes can be dangerous, as criminals can intercept and modify communications to access sensitive data. It is also important to be cautious when downloading applications from unofficial sources, as they may contain malware designed to steal information or control the device without the user knowing.

Therefore, Check Point Software wants to point out some essential tips to keep your devices protected while enjoying your vacation:

Protect your Wi-Fi network like you protect your skin: Just as it is not advisable to expose yourself to the sun without sunscreen, you should avoid connecting to open and unprotected Wi-Fi networks. Cybercriminals use public networks, such as those in cafes, hotels, and airports, to intercept a user’s personal information. It is important to use only Wi-Fi networks that require a password and ensure the connection is encrypted. Additionally, always keep in mind that it is better to use a VPN (Virtual Private Network) to add an extra layer of protection, keeping data safe from prying eyes.

Safe selfies on the beach: Sharing photos and selfies on the beach is a fun part of the holidays, but be careful with the apps you use. Nowadays, it is essential for a user’s social networks to have two-factor authentication enabled. This security measure requires a second verification step, such as a code sent to the mobile, in addition to the usual password.

Keep your device cool and secure: Extreme heat can damage electronic devices, reducing their performance and lifespan. Therefore, do not leave them exposed directly to the sun; always look for cool and shaded places to store them. Additionally, another important point is to have a security solution installed that can detect and eliminate threats before they harm your device. Regular software and application updates not only introduce new features but also fix vulnerabilities that cybercriminals could exploit.

Beware of digital sharks: During vacations, when we are more relaxed, it is easier to fall into phishing traps. These attacks come through emails, text messages, or even social networks, pretending to be from trusted sources. Even in summer, it is essential not to let your guard down and never click on links or download files from unknown senders. If something seems suspicious, you can verify the authenticity of the message before interacting with it. To do this, go to the sender’s original website through the internet search engine to check if the information received is real.

Strengthen your security with constant updates: One of the keys to security that many people overlook is keeping all devices updated with the latest patches and software updates. Each update improves security by fixing possible flaws and vulnerabilities that cybercriminals could exploit. To achieve this, it is best to set devices to update automatically, ensuring they are always protected against the latest threats. This simple practice can make a big difference in protection.

“Summer is a time to relax, but we cannot let our guard down when it comes to cyber security. Keeping our devices secure is essential to enjoy our vacation without worries. By following a few simple protection steps, we can prevent most cyberattacks and keep our information safe,” warns Sundar Balasubramanian, Managing Director at Check Point Software Technologies, India & SAARC

New Delhi, 17th August 2024 – Asttrolok, a leading institute for astrology and Vedic sciences proudly announces a new batch for astrology and Vedic sciences, globally including countries like Nigeria, Africa, Saudi, UK, USA, Europe, Dubai. With over 200 students from across the globe, Asttrolok stands as a beacon of knowledge, attracting a diverse spectrum of individuals keen to explore the ancient wisdom of Vedic sciences.

Asttrolok’s student community is a true reflection of its global reach and universal appeal. The institute has successfully enrolled a varied demographic, showcasing the wide-ranging interest in astrology and Vedic sciences. Among the student body:

30% are business professionals and high-net-worth individuals (HNIs): These students seek to integrate the profound insights of Vedic sciences into their personal and professional lives, leveraging astrological wisdom to enhance decision-making and strategic planning.

30% are housewives: This group is drawn to Asttrolok for its enriching curriculum that offers spiritual growth, personal development, and a deeper understanding of cosmic influences on daily life.

Students below 25 years of age: Young and inquisitive minds make up a significant portion of Asttrolok’s students, eager to delve into the mysteries of the universe and gain knowledge that complements their academic pursuits and personal interests.

Students above 70 years of age: This category underscores the timeless relevance of Vedic sciences, with seniors enrolling to deepen their spiritual understanding and enrich their twilight years with ancient wisdom.

Asttrolok’s inclusive approach is evident in its embrace of students from all religious backgrounds, including Muslims. This inclusive ethos ensures that the teachings of astrology and Vedic sciences are accessible to everyone, fostering a community of learners united by a shared quest for knowledge.

The geographical diversity of Asttrolok’s students is equally impressive, with enrollments from:

• Nigeria and other parts of Africa
• Saudi Arabia and the wider Middle East
• The United Kingdom and Europe
• The United States of America
• Dubai

This international presence highlights Asttrolok’s commitment to transcending borders and making Vedic knowledge accessible worldwide.

Asttrolok’s curriculum is meticulously designed to cater to the varied interests and backgrounds of its students. The institute offers a range of courses, from beginner to advanced levels, covering topics such as Vedic astrology, palmistry, numerology, and spiritual healing. The faculty comprises seasoned experts and revered practitioners who bring a wealth of knowledge and experience to the classroom.

Students at Asttrolok benefit not only from theoretical knowledge but also from practical applications, enabling them to apply Vedic principles to real-world scenarios. This holistic approach ensures a comprehensive learning experience that is both intellectually stimulating and spiritually fulfilling.

As Asttrolok continues to grow and evolve, its mission remains steadfast: to illuminate minds and inspire souls through the timeless wisdom of astrology and Vedic sciences. The institute’s expanding global footprint and diverse student body are testaments to its success in making ancient knowledge relevant and accessible to contemporary society.

17th August 2024: As we approach India’s Independence Day, it’s the perfect time to reflect on our nation’s incredible journey and the indomitable spirit that has shaped its destiny. This is a day to honour the sacrifices of those who fought selflessly, just for our freedom, and to celebrate the diverse and vibrant culture that makes India unique. One of the best ways to celebrate this significant occasion is by immersing yourself in stories that capture the essence of India’s struggle for independence and the rich tapestry of its history and heritage.

From historical dramas that take you back to our fight for independence to contemporary tales that highlight the ongoing resilience and strength of our people, each story weaves a unique perspective on India’s journey. Here’s a curated list of stories perfect for this Independence Day:

Fighter (Netflix)

Buckle up for a high-octane aerial combat spectacle! It’s a story revolving around Shamsher Pathania essayed by Hrithik Roshan, who fulfills his lifelong dream of becoming a member of the Indian Air Force. Victory over constant obstacles, Patty must rise to become a true hero. This film further follows the daring lives of fighter pilots who defend the nation’s skies. Witness the rigorous training that pushes them to their limits, the camaraderie forged in the face of danger, and their unwavering dedication to protecting the vast airspace of India. Prepare to be awestruck by pulse-pounding aerial sequences!

Bose Se Netaji Tak (Pocket FM)

Uncover a pivotal chapter in Indian history with Bose Se Netaji Tak! This compelling audio series chronicles the remarkable journey of Subhash Chandra Bose, a young leader determined for India’s freedom. Witness his evolution from a promising political figure to Netaji, the legendary icon who fueled the independence movement. The series delves deep into historical events and the complexities of Bose’s decisions during World War II. Travel back in time as Bose navigates Germany’s political landscape, seeking alliances to form the Azad Hind Fauj. Listen to the heroic tales of Subhash Chandra Bose in Bose Se Netaji Tak, only on Pocket FM.

Ae Watan Mere Watan (Amazon Prime)

Immerse yourself in a period drama starring Sara Ali Khan overflowing with patriotism and the strong spirit of freedom fighters. This story is a historical biopic set in 1942 India during the Quit India Movement. It tells the true story of Usha Mehta, a courageous young woman who defied British authorities by establishing a clandestine radio station to broadcast messages of unity and ignite the fight for freedom. It transports you back in time to witness the extraordinary bravery and sacrifices made by ordinary men and women who dedicated their lives to securing India’s independence. Ae Watan Mere Watan is a powerful reminder of the struggles endured during this defining chapter in Indian history.

Article 370 (Netflix)

As tensions rise in a conflict-ridden region simmering on the brink of a major constitutional decision, the Indian government dispatches a covert operative. Enter Zooni Haksar played by Yami Gautam, a steely-eyed special agent entrusted with a clandestine mission. Her objective: quell the rising tide of violence and navigate the treacherous political landscape to prevent a complete breakdown of order. This high-stakes scenario sets the stage for “Article 370,” a film that delves into the complexities surrounding the abrogation of the special status of Jammu and Kashmir. Expect a multi-layered story that goes beyond the headlines.

Operation Valentine (Amazon Prime)

Inspired by the real-life events of the 2019 Pulwama attack and the retaliatory Balakot Air Strikes, “Operation Valentine” is a 2024 action-drama film. Directed by Shakti Pratap Singh Hada in his debut, the movie explores the aftermath of a horrific terrorist incident and the daring counter-offensive launched by the Indian Air Force. Shot simultaneously in Hindi and Telugu, the film features Varun Tej (making his Hindi debut) and Manushi Chhillar (making her Telugu debut) alongside established actors Navdeep and Mir Sarwar.

Rocket Boys (Sony Liv)

Blast off into the exciting world of Indian science with Rocket Boys! This biographical drama tells the story of Dr. Homi J. Bhabha and Dr. Vikram Sarabhai, two visionary scientists who played a significant role in shaping India’s space program. Witness their brilliant minds at work as they overcome challenges, navigate complex relationships, and dream of building rockets that will put India on the global map. Rocket Boys is an inspiring tale of friendship, ambition, and the pursuit of scientific advancement.

New Delhi, August 17, 2024: CTPL has successfully secured $4 million Series A funding round, which includes a mix of dilutive and non-dilutive capital, reflecting the confidence of investors in the company’s growth potential.

Led by Gujarat Venture Finance Limited (GVFL) and co-invested by Physis Capital, the round also saw participation from UCIC, Recur, and other investors. “GVFL is pleased to lead the investment in CTPL, a company at the forefront of transforming the education sector with its cutting-edge technology solutions. This investment underscores our commitment to supporting innovative ventures that drive significant impact. With CTPL’s robust admissions management systems and visionary leadership, we are confident in their ability to empower educational institutions to achieve greater efficiencies and enhanced student experiences,” remarked Kamal Bansal, MD, GVFL.

This significant funding milestone underscores the pivotal role of technology in reshaping the landscape of admissions in education sector. CTPL’s technology and strategic marketing innovations have streamlined university admissions, increasing efficiency and user-friendliness. “We’ve closely monitored CTPL’s progress and are delighted to see their annual revenue double over the past three years while maintaining profitability. With this funding, CTPL plans to expand its offerings and pursue global expansion. Physis Capital has been a strategic partner, offering experiential capital and connecting CTPL with key business partners. We at Physis are proud to support CTPL as they continue to innovate and lead the way in transforming university admissions,” said Anukr Mittal, Partner, Physis Capital.

“We are delighted to announce the successful closure of our recent funding round, which will catalyze our endeavors in revolutionizing the education sector through technological innovation,” stated Mr. Bikash Sahoo, Founder & CEO of CTPL. “With the backing of GVFL, Physis Capital, and all our partners, we are eager to broaden our reach and empower more universities to scale their admissions processes.”

About CTPL:

CTPL currently serves a diverse clientele, facilitating over 30,000 admissions for partner universities and institutions in the academic year 2024. CTPL’s revenue has more than doubled in FY24, and the company aims for another 100% growth in FY25, indicating strong market demand for its solutions.

CTPL’s steadfast commitment to innovation and excellence has solidified its position as a trusted ally for educational institutions seeking to modernize their operations and provide a seamless student experience. By offering adaptable and personalized Admissions First solutions, CTPL is spearheading a more efficient and student-centric approach to admissions.

Leadership and Expertise:

Under the guidance of visionary founder Bikash Sahoo, who has a robust background in education, and a senior leadership team of experts, CTPL is dedicated to driving innovation and excellence in the education ecosystem. The leadership team’s wealth of experience and hands-on knowledge ensures that CTPL remains at the forefront of transforming the admissions landscape.

MidsCap Advisory, a Delhi-based boutique investment advisory firm, served as the exclusive advisor for this transaction.

Disclaimer: The information contained in this press release is provided by a third party and does not necessarily reflect the views or opinions of our organization. We do not endorse or guarantee its accuracy.

New Delhi, Aug 17, 2024: To celebrate the second anniversary of OPPO Members’ Mega Sale Day, OPPO India also offers exclusive deals on its e-store and at retail stores until August 31st.

Starting today, OPPO members—both new and existing—can expect incredible deals on the Reno12 Pro, Reno12, F27 Pro+, IOT products, accessories, and other smartphones.

OPPO India has also introduced a new Livephoto feature in “Your Everyday AI Companion” the Reno12 series that allows users to capture short-moving pictures with its wide-angle, main camera, or telephoto lens. Users can then select different keyframes, apply creative effects, edit their photos, and share them with family and friends.

The Livephoto feature integrates AI Touch-ups’ advanced algorithms to automatically optimise lighting, colours, and other elements for clarity to make your everyday moments memorable.

Offline customers can avail the following offers:

• Up to 10% cashback and no-cost EMI for up to 6 months from leading banks such as SBI Cards, HDFC Bank, One Card, Kotak Bank, Bank of Baroda, DBS and Federal Bank.
• The benefit of Zero Down Payment schemes from leading financiers on purchasing the latest OPPO products

Following the overwhelming response to the emotion-packed trailer for Prime Video’s upcoming Original docuseries, Angry Young Men, it’s time to kick off the long weekend with a cinematic journey into the iconic world of Salim-Javed. This legendary screenwriting duo redefined Hindi cinema in the 1970s and 1980s, creating the unforgettable ‘Angry Young Man’ persona that captivated audiences with powerful tales of rebellion, justice, and social change.

As we count down to the premiere of Angry Young Men on August 20, Prime Video invites you to immerse yourself in the legendary world of Salim-Javed. Celebrate their cinematic brilliance by exploring the Salim-Javed archival collection and binge-watching five of their blockbuster hits that continue to redefine Bollywood storytelling. Don’t miss this chance to experience the magic that shaped an era!

Sholay: Directed by Ramesh Sippy, Sholay introduced some of the most unforgettable and iconic characters of all time: Jai (Amitabh Bachchan), Veeru (Dharmendra), Basanti (Hema Malini), and Gabbar Singh (Amjad Khan). The film revolves around two criminals, Veeru and Jai, hired by a retired police officer (Sanjeev Kumar) to capture the ruthless dacoit Gabbar Singh. His iconic dialogues like “Kitne aadmi the?” and “Yeh haath humko de de Thakur ” remain etched in the hearts of audiences to this date. With the perfect blend of drama, romance, humour, and action, Sholay set a new standard for storytelling in Indian cinema.

Deewaar: Directed by Yash Chopra, Deewaar (1975) follows the story of two brothers who grow up together in the slums of Mumbai but end up on very different paths. Vijay (Amitabh Bachchan) becomes a smuggler, while Ravi (Shashi Kapoor) becomes an honest police officer, leading to a dramatic conflict between them. Deewaar resonated with audiences due to its memorable dialogues, standout performances, and empathetic portrayal of social issues. The famous line, “Mere paas maa hai,” remains unforgettable for cinephiles.

Dostana: Directed by Raj Khosla, Dostana (1980) revolves around two childhood friends, Vijay (Amitabh Bachchan), a police officer, and Ravi (Shatrughan Sinha), a lawyer. However, their friendship is tested when they fall in love with the same girl named Sheetal (Zeenat Aman). What forms the crux of the story is Mr Dagga, a prolonged enemy who takes advantage of the complicated situation and plots to break their bond. The film highlights how genuine friendships can overcome misunderstandings and personal conflicts. Its central message underscores the importance of trust and support in relationships, and the idea that true love and friendship can prevail despite societal and personal challenges.

Kaala Patthar: The 1979 film, based on the 1975 Chasnala mining disaster, depicts the tragic explosion and flooding in the mine that killed 375 miners. Starring Amitabh Bachchan in the lead, the story follows his character (Vijay Pal Singh) who fights against a corrupt system to ensure safety and justice for the miners. Directed by Yash Chopra, the film highlights the negligence and greed of the mine owners that led to the loss of lives of many common men, deeply resonating with audiences, and that’s how the persona of Angry Young Man rose to fame in Bollywood.

Andaz: Released in 1971, Andaz is a classic film directed by Ramesh Sippy known for its engaging storytelling and memorable performances. The film stars Rajesh Khanna, Hema Malini, and Shammi Kapoor in pivotal roles. The plot revolves around a love triangle where Rajesh Khanna plays a charismatic, affluent man whose life is intertwined with the lives of Hema Malini and Shammi Kapoor. Andaz is celebrated for its melodious music and emotional depth, showcasing the era’s quintessential Bollywood romance. The film’s portrayal of complex relationships and its timeless songs have earned it a special place in Indian cinema, making it a cherished watch even decades after its release.

17th August 2024: Non-banking financial companies (NBFCs) focusing on gold loans are expected to see reasonable growth in disbursements this fiscal as demand for credit remains strong. Their growth in the recent past has been underpinned by operational resilience, agility and adaptability to evolving regulations. A key regulatory development this fiscal was the advisory in May 2024 that curbed cash disbursements.

Growth for gold-loan NBFCs has also been supported by favourable movement in gold prices. Moreover, given their robust risk management practices, these NBFCs are well placed to withstand adverse gold price fluctuations as seen in the past few weeks.

A CRISIL Ratings analysis of gold-loan NBFCs accounting for over 90% of the industry assets under management (AUM), indicates as much.

Says Ajit Velonie, Senior Director, CRISIL Ratings, “Early evidence of growth momentum is seen in the disbursements for June 2024, which were ~12% higher than the average monthly disbursements in the preceding quarter. Excluding one large player, the growth was even higher at ~23%.”

The May advisory from the Reserve Bank of India (RBI) to a few gold-loan NBFCs recommended adherence to the provisions of the Income Tax Act. That meant loans cannot be disbursed in cash in excess of Rs 20,000. Anything more has to be disbursed through the banking channels such as the National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS) or the Unified Payments Interface (UPI).

Following the RBI directive, CRISIL Ratings, in its credit bulletin dated May 21 had indicated that the shift to digital channels for gold-loan disbursements could impact growth in new disbursements. Previously, up to 95% of gold-loan disbursements by NBFCs were in cash — essentially to provide quick service to borrowers.

Since then, NBFCs have smoothly transitioned to digital channels with only a slight increase in turnaround time, which has helped them maintain their edge over banks. This has been made possible due to their existing infrastructure and technology, which already supported online disbursements for larger loan amounts, as well as educating borrowers to use the digital modes.

Says Malvika Bhotika, Director, CRISIL Ratings, “To be sure, NBFCs have been grappling with gold prices, which have declined after the reduction in customs duty announced in the full Union Budget for this fiscal. Even so, the declining gold prices have not affected gold-loan NBFCs materially for two reasons. One, CRISIL Ratings estimates the portfolio loan-to-value (LTV) range for these NBFCs was low at 60-65% (on mark-to-market basis) as on June 30, 2024, which provides adequate cushion to manage unfavourable movement in gold prices. Two, these NBFCs have typically focused on periodic interest collection, keeping LTV under check.”

Any sharp fall in gold prices and their sustenance at the lower level for long would bear watching. To mitigate this risk, aside from periodic interest collection, gold-loan NBFCs would need to monitor LTV closely and conduct auctions in a timely manner.