All posts by Rabindra

August 8th, India — As the peak summer travel season is underway in the Northern hemisphere, International SOS, the world’s leading health and security services company, is urging organisations to prioritise the health and safety of their travelling employees. With summer travel reaching record highs, particularly in North American and Western European regions1, robust pre-travel planning and effective risk mitigation strategies are crucial for a healthy and safe summer travel season.

Summer’s warmer temperatures and the corresponding rise in outdoor activities create a heightened risk environment for health and safety. These risks are amplified for travellers with unfamiliar destinations, where individuals may encounter food and waterborne illnesses, vector-borne diseases and excessive sun exposure. International SOS global assistance data revealed that the top most common assistance requests from clients in the Northern hemisphere during 2023 summer were upper respiratory tract infection, fever and urinary tract infections.2 Traveller’s diarrhoea is another commonly reported travel-related illness.

Additionally, the increased frequency and intensity of heatwaves globally also pose significant health threats, including heat stress, which is the leading cause of weather-related fatalities and can exacerbate underlying medical conditions.4 To ensure employee health and wellbeing, organisations should provide clear guidance on heatwave preparedness, such as staying hydrated, avoiding outdoor activities during peak heat hours and recognising the signs of heat-related illness.

Dr Katherine O’Reilly, Regional Medical Director at International SOS, commented, “The excitement of summer travel can sometimes overshadow potential health risks. It is important to understand that conditions such as heart disease, asthma, and diabetes can be worsened by warmer weather, leading to more severe symptoms and sometimes complications. To mitigate these risks, organisations should encourage their workforce to consult with healthcare professionals before travelling. These consultations help travellers identify destination-specific health threats and inform essential preventive measures, including vaccinations, hygiene practices and sun safety protocols.”

James Wood, Regional Security Director at International SOS, commented “The surge in summer travel underscores the importance of prioritising employee safety and fostering a strong security awareness culture within organisations. By conducting comprehensive destination research, travellers can equip themselves with knowledge of local security risks, cultural nuances and common scams. This knowledge empowers travellers to make informed decisions and minimise their vulnerability to threats. Unfamiliar environments can heighten the risk of security threats, emphasising the need for robust personal security measures.”

International SOS offers guidelines for organisations and their workforce to stay healthy and safe whilst travelling this summer:

1. Pre-Travel Health Check-Up: Encourage employees to schedule a pre-travel consultation with a healthcare professional. This allows for necessary vaccinations, review of existing health conditions, and guidance on travel-specific health risks.
2. Destination Research: Advise employees to research their destination thoroughly. This includes understanding local weather patterns, potential health risks, cultural norms, and security concerns. International SOS offers a suite of travel advisory resources for various destinations worldwide.
3. Plan ahead and choose safe accommodation: When selecting a place to stay, use credible booking sites, pick the location carefully and consider checking reviews from other travellers.
4. Highlight the importance of understanding traveller targeted risks: International visitors can be common targets for pickpocketing and scams. Provide basic travel safety training to travelling employees.
5. Encourage employees to take precautions to prevent heatstroke: Promote sun protection practices and remind travellers of the importance of hydration.
6. Inform employees of food safety risks whilst travelling: Food poisoning peaks during the summer months due to warmer temperatures. Advise travellers to exercise caution with unfamiliar food and water sources. Bottled water and thoroughly cooked meals are generally safer options.

 8th August 2024 – Firecompass, a Saas startup in Continuous Penetration Testing and Red Teaming, announced the launch of its Generative-AI powered Agent AI for Ethical Hacking & Autonomous Penetration Testing. FireCompass Agent AI is natively integrated with the FireCompass Platform and autonomously executes the entire penetration testing workflow.

Unlike current generative AI tools that typically only provide interfaces or generic suggestions, Agent AI executes the tasks autonomously, orchestrating to achieve specific objectives like finding organization-specific vulnerability information, generating tailored attack plans, and autonomously executing specific attack playbooks to demonstrate potential breaches. The platform dramatically increases testing coverage, accelerates the discovery of complex attack paths, and enhances the productivity of human pen-testers. This capability is available as an add-on to FireCompass’ existing platform for Automated Pen Testing, Red Teaming, and External Attack Surface Management.

India faces severe cybersecurity challenges, ranking among the most targeted countries globally. CERT-In reports a 25-fold increase in breaches over 5 years, with each breach costing an average of $2.18 million (RBI). A shortage of 800,000 cybersecurity professionals (World Economic Forum) amplifies the immediate need for AI-driven autonomous solutions.

“An average organization conducts ethical hacking or penetration testing on the top 20% of their assets annually. However, attackers are leveraging automation and AI to continuously target 100% of the assets,” said Bikash Barai, CEO and Co-Founder of FireCompass. “Conventional Penetration Testing cannot match the pace of attackers. FireCompass GenAI & Agentic AI can help us achieve 10 to 100 times more frequency and cost efficiency than traditional models.”

Traditional Ethical Hacking or Penetration Testing involves multiple tools and manual effort. FireCompass Autonomous Pen Testing Agent AI with the LLM-powered interface eliminates the need for repetitive manual tasks, significantly improving delivery speed and the depth and breadth of testing.

“Automating penetration testing of complex, multi-stage attacks is the next level of penetration testing. Agent AI is a promising way to solve this otherwise hard problem,” said Bruce Schneier, an internationally renowned security technologist called a “security guru” by the Economist.

• Gaps with Standard LLMs in Penetration Testing
• Standard LLMs have several limitations in the context of penetration testing:
• They cannot answer queries specific to an organization (e.g., “Give me the list of IPs of all risky assets”).
• They cannot create an organization-specific plan of attack for a given objective.
• They cannot execute end-to-end Penetration Testing or red-teaming on their own.
• Introducing Agent AI for Penetration Testing & Red Teaming

FireCompass combines Agent AI with Gen AI to create autonomous end-to-end penetration testing capabilities. While Gen AI typically makes suggestions, Agent AI executes the completion of a workflow to achieve specific objectives. This capability, available as an add-on to FireCompass’ existing platform, will:

• Interact in natural language to provide organization-specific information on vulnerabilities and risks.
• Generate attack plans tailored to an organization based on user-provided objectives, guardrails, and existing vulnerabilities.
• Execute attacks autonomously and demonstrate how an organization can be breached.
• FireCompass has already been awarded a patent by the USPTO for automated penetration testing and red teaming.
• FireCompass’ Agent AI vs. Traditional Methods
• FireCompass uses Agent AI and Gen AI to creatively generate and autonomously execute attack plans.
• Provides 10-100x more testing with the same budget, making human PenTesters four times more productive.
• Accelerates the discovery and mitigation of complex attack paths, reducing the risk window from months to hours.

FireCompass is considered a leader in Automated Pen Testing, Red Teaming, and Attack Surface Management by leading analysts like Gartner, Forrester, and IDC. Founded by serial entrepreneurs and supported by leading VCs, the team holds multiple patents in cybersecurity and has discovered zero-day vulnerabilities in platforms such as McAfee, Microsoft BitLocker, Sophos, and AVG. FireCompass is trusted by Fortune 500 companies globally which includes Top 5 Global Telco, Top 10 Manufacturing Firms, Top 10 Technology, and Banking Firms.

Mumbai, 08 August, 2024: Leading publishing house Target Publications brought a burst of creativity to the lives of students at Helen Keller Institute for Deaf & Deafblind. In collaboration with Penkraft Ideas Pvt. Ltd., a unique end-to-end entity for all things art, the company ignited a passion for Mandala art through a vibrant workshop.

Over 70 budding artists, including students, trainee educators, and in-house teachers, participated in this whirlwind of creativity. The workshop, buzzing with excitement, equipped participants with all the skills and knowledge they needed to embark on their artistic journeys. Printed Mandala art papers and gel pens distributed among Helen Keller students became gateways to a world of intricate patterns and vibrant self-expression.

Anuradha Bagchi, Director of the Helen Keller Institute, couldn’t contain her delight. “We are incredibly thankful to Target Publications for bringing this remarkable workshop to our students,” she said. “They were captivated by the Penkraft trainers’ guidance, and the joy of creating Mandala art was truly infectious. We believe this experience will not only spark a love for this art form but also empower them to continue practicing at home.”

Tushar Chaudhari, Executive Director of Target Publications, Thane, beamed with pride. “We are honored to have had the opportunity to partner with Helen Keller Institute for Deaf and Deafblind for this special event,” he said. “At Target Publications, we understand the importance of fostering creativity beyond academics. That’s why, alongside our educational content, we offer Mandala art books – a testament to our commitment to keeping students and their artistic journeys at the heart of everything we do.”

This captivating workshop wasn’t just about creating art; it was about igniting a spark of creativity within these remarkable young minds. And that, truly, is a masterpiece in itself!

“It was pure magic to see their faces light up!” exclaimed Pallavi Desai, Founder & MD of Penkraft Ideas Pvt. Ltd., who along with Penkraft Master Trainer Vishakha Kalangan, conducted a mesmerizing Mandala Art workshop for the institute’s students.

Pallavi Desai, who imparted the workshop, echoed this sentiment. “Witnessing the student’s focus and meticulousness as they crafted their Mandalas was truly heartwarming,” she shared. “Mandala art offers a multitude of benefits, from enhancing fine motor skills to boosting creativity and focus. It’s a practice that empowers both children and adults alike.”

Kochi, 08 August, 2024: Aster Medcity hosted a special gathering for mothers and babies as part of the World Breastfeeding Week. The event was inaugurated by the renowned actress and writer Aswathy Sreekanth.

Trust Your Body: Breastfeeding is a Beautiful Journey,” said Aswathy Sreekanth at Aster Medcity’s Breastfeeding Week celebrations. “There is an incomparable, moving connection that breastfeeding creates between a mother and her child. It’s a unique bond that nurtures closeness, security, and love.” She also emphasized the importance of supporting mothers who cannot breastfeed for any specific reason, urging them not to feel guilty.

World Breastfeeding Week is observed globally from August 1st to 7th each year to promote awareness about the vital importance of breastfeeding for infants. Around 50 mothers and their babies enthusiastically participated in the event, which included informative sessions highlighting the significance of breastfeeding. The programme also addressed the concerns and doubts of mothers regarding this natural process.

Senior Consultants in Neonatology such as Dr. Jose Paul, Dr. George Jose, Consultant, Dr. S. Rajasree, Dr. Zareena A Khalid, Senior Consultant – Obstetrics & Gynaecology and Dr. Jeeson C Unni, Senior Consultant- Paediatrics participated in the event to support and educate the attendees on the benefits of breastfeeding.

Mumbai, August 08, 2024: Hastantaran, meaning ‘handing over’ or ‘transferring’, is an exciting ceremony marking the start of the mentoring journey undertaken by SPJIMR’s first-year PGDM participants and Abhyudaya Sitaras (Stars).

Abhyudaya, meaning ‘growing together’, is an experiential learning programme where each first-year PGDM participant is assigned a Sitara to mentor for the entire year. The Sitaras, selected based on their academic records and performance in specially curated aptitude tests, are some of the brightest students from Mumbai’s marginalised and underprivileged sections.

Speaking about the initiative, Prof. Varun Nagaraj, Dean, SPJIMR, said, “The SPJIMR-Abhyudaya programme is designed to cultivate social sensitivity and empathy in our future business leaders by exposing them to the realities of urban poverty and inculcate mentorship qualities.” Since 2008, 948 Sitaras and 3,688 PGDM participants have undergone this transformative journey.

The Sitaras, who refer to the PGDM participants affectionately as ‘Didis’ (sisters) or ‘Bhaiyas’ (brothers), gain lifelong mentors who provide academic support, personality development training, emotional counselling, and advice on personal or professional issues.

Hastantaran 2024 marked the propitious commencement of Abhyudaya for the PGDM cohort of 2024-26. Arati Nagaraj, Director, SPJIMR-Abhyudaya, inspired the Sitaras and PGDM aspirants, and said, “To the senior mentors, remember, your journey is never over. You continue to be your Sitaras’ North Star. And to the new mentors, embrace this journey and strive to become a guiding light for your Sitaras.”

‘Celestial Connections’, the theme of Hastantaran 2024, signified the sincerity and depth of the bonds formed between the PGDM participants and the Sitaras. “Abhyudaya was a life-changing experience for me. I learned a lot from my mentee and her family,” said Swapneel, PGP2 mentor. Added Sakina Jabir Khan, his mentee and a class 8 student, “I learnt about leadership from Swapneel bhaiya. He helped me with my studies. Though I am sad that I won’t see him every month, I am excited to know who my new mentor will be.”

To celebrate the beginning of these beautiful mentor-mentee relationships, the Sitaras and the PGDM participants lit up the stage with energetic dance and soulful song performances. During a panel discussion, second-year PGDM participants and Sitaras shared their Abhyudaya experiences to clarify doubts and allay concerns of the first-year participants.

The most awaited event of Hastantaran 2024 was the first mentor-mentee meeting. Each Sitara searched with keen eyes, bated breath, and hopeful hearts for their beloved ‘Didis’ and ‘Bhaiyas’. A sense of emotion overtook them as this moment marked the rite of passage from their previous mentor to their next mentor. The event concluded with a series of ice-breaking and team-building exercises where the Sitaras and their new mentors shared personal stories, aspirations, and expectations.

Hastantaran 2024 marked a shift in the energy on campus. The excitement of being part of an experience that shapes lives, creates lifelong bonds, and builds a treasure trove of memories was almost tangible. Each participant and their Sitara are now set to embark on a stellar journey of personal growth and learning.

New Delhi, India – 8th Aug 2024 – Channelplay, a leading retail marketing and sales outsourcing company, is excited to announce the outstanding results from its retailer activation and engagement program, meticulously executed for the renowned power tools brand Bosch. The program focuses on onboarding and activating retailers on the Bosch loyalty application, aimed at enhancing retailer engagement to boost sales through scanning Bosch products via the application.

In collaboration with Bosch, Channelplay has implemented a dynamic field engagement program designed to enhance retailer activation and drive Bosch tool sales. The initiative began with a focused recruitment effort, deploying 22 Feet on Street Executives (FOS) dedicated to the BeCo (Bosch Engagement and Customer Onboarding) initiative. These FOS teams are responsible for visiting retailers, onboarding them onto the Bosch retailer loyalty app, and ensuring their continued active usage of Bosch products. The success of this initial phase prompted significant expansion, with 50 approved locations now staffed with active FOS across India. Channelplay’s commitment to maintaining a 100% fill rate and swift vacancy closures within a week has been pivotal to this growth.

The program’s success is attributed to its comprehensive approach to onboarding new retailers onto the loyalty application and activating existing passive retailers to scan Bosch tools. The FOS teams not only onboard retailers but also ensure ongoing engagement through tool scanning, point redemption, and distribution of vouchers. With dedicated teams and a commitment to excellence, Channelplay has successfully onboarded over 3000 new and passive retailers onto the application. This effort has resulted in a 20% increase in tools scanning and sales for Bosch products, along with a 10% rise in monthly retailer engagement compared to the previous year.

Mr. Lakshya Das, Vice President of Sales Force Outsourcing at Channelplay, comments, “The success of the Bosch Program underscores Channelplay’s commitment to delivering innovative and results-driven marketing solutions through strategic recruitment, meticulous monitoring, and effective use of technology. As Channelplay continues to pioneer excellence in the industry, the insights gained from this program will also serve as a blueprint for future endeavours.”

Managed by Channelplay, the Retailer Activation Program has become integral to Bosch’s hardware product marketing strategy. Through meticulous oversight and a tailored approach to activations, tool scanning, and retailer engagement, the program has surpassed expectations.

Key Insights from the Program:

Targeted FOS Placement: Leveraging market intelligence, FOS teams were strategically positioned in markets with lower-density registered retailers, maximising market potential and ensuring efficient resource utilisation for enhanced market penetration.
Recruitment Excellence: Channelplay’s rigorous recruitment process ensures the selection of top-tier talent, maintaining a swift hiring turnaround time of seven days to acquire skilled resources promptly.
Best-in-Class Technology Integration: Utilizing cutting-edge, in-house technology solutions, Channelplay optimises field operations for Bosch, managing daily retailer visits and tool scanning with efficient tracking and reporting for real-time insights and enhanced performance monitoring.
Continuous Retailer Engagement: The FOS team initiates and sustains ongoing engagement through frequent retailer visits and comprehensive market tracking. The team ensure retailers are updated on points balance and upcoming rewards to foster enduring relationships.
Innovative Incentive Schemes: Creative incentive programs motivate FOS teams with performance-based bonuses, recognition awards, professional development opportunities, and exclusive perks, driving higher engagement and loyalty from retailers.
FOS Training and Development: Ongoing training programs equip FOS with product knowledge, loyalty app proficiency, point redemption strategies, and effective sales techniques, enhancing their ability to engage with retailers and drive conversions confidently.

A senior representative from Bosch Private Limited stated, “Channelplay ensures the effectiveness of all our Feet on Street employees in a highly professional manner and drives the team to achieve all the KPIs.”

National Institute of Food Technology Entrepreneurship and Management, Kundli (NIFTEM-K), An Institute of National Importance under the Ministry of Food Processing Industries, Govt of India in collaboration with Agilent Technologies is organizing a 3 days Training Program on “Hands-on-Training on Quantification of Ethylene Oxide & 2 CE in various Spices by GC-MS/MS” for technical officials from State Food Testing Lab (SFTL) and FSSAI notified food testing laboratories.

The training program was inaugurated by Dr. Harinder Singh Oberoi, Director, NIFTEM-K, in presence of Dr. Samir Vyas, Country General Manager, Agilent Technologies, Sh. Ajai Prakash Gupta, Director, QA, FSSAI, Dr. Ajay Singh Bisht, Scientist at Spice Board, , and Dr. Komal Chauhan, Dean Research & Outreach and Head CFRA on 06 August 2024. Senior officers from NIFTEM-K and Agilent Technologies were present during the inaugural function besides the particpants. The event is being organized jointly by NIFTEM-K and Agilent Technologies from August 6th to 8th, 2024 at NIFTEM-K to impart hands-on training to 23 participants.

The event started with a welcome speech by Dr. Komal Chauhan (CFRA Head & Dean Research, NIFTEM-Kundli),. Dr. Neetu Taneja (Associate Head, CFRA) explained about the structure of the training programme, profile of the resource personnel and also highlighted its main goals and reasons behind the crucial need for precise measurement methods to ensure food safety. Dr. Ajai Prakash Gupta highlighted the importance of accurate and precise testing of contaminants, especially from the regulatory compliance perspective. He urged participants to make the most of this opportunity to discover new technology and suggested to include different food types in their training to expand their knowledge.

Dr. Dinesh Singh Bisht talked about the ETO and 2-CE limits in different countries. He also mentioned about the procedure for analysis of 2-CE brought out by FSSAI .

Dr. Sameer Vyas, CGM, Agilent Technology, appreciated the initiatives taken by NIFTEM-K, complemented the NIFTEM-K team and the Agilent team for working coherently in designing and developing a well structured training programme having orientation for enhancing the skill set of the lab analysts. He also emphasised that coming together of Government, Private sector and Public sector will help in improving the awareness among consumers about food safety, especially about the contaminants.

Dr. Harinder Singh Oberoi stress on the need to create a robust and accurate testing of ETOs not only in spices, but other commodities as well. He also mentioned that organizations like NIFTEM-K and FSSAI can play a significant role in anticipating the detrimental effects of contaminants like Acrylamides, endocrine disruptors and veterinary drug residues. Dr. Oberoi emphasised that India should set limits for all such contaminants across different product categories based on structured surveillance and country specific data. He requested Dr.Vyas to support NIFTEM-K in establishing a Food Safety research centre which can be used for capacity building and improving the skill set of the staff associated with analysis and also generating a lot of scientific information on existing and emerging contaminants which can eventually be shared with FSSAI for establishing robust standards.

8th August 2024: In its latest meeting, the RBI’s Monetary Policy Committee (MPC) kept key rates unchanged, with the repo rate at 6.5%, SLR at 6.25%, and MSF at 6.75%. The majority decision of 4 out of 6 members underscored the MPC’s commitment to gradually withdrawing accommodation to align inflation with targets while supporting economic growth.

The GDP growth forecast for FY25 remains at 7.2%, supported by global resilience, rural demand, and robust industrial capacity utilization. Inflation for FY25 is projected at 4.5%, with upward revisions for Q2 and Q3 and a slight downward adjustment for Q4. The central bank remains cautious amidst fluctuating prices of key crops like pulses and vegetables, emphasizing vigilance in monitoring economic indicators moving forward.

Comments by Industry Experts:

Rahul Jain – CFO, NTT DATA Payment Services India

The Central Bank’s announcement to increase the transaction limit to Rs 5 lakh for tax payments using Unified Payments Interface (UPI), from Rs 1 lakh earlier is a significant move, propelling India towards digitally inclusive economy. This initiative will strengthen the tax-collection system, reduce the cost of tax-collection, and make tax-payments more convenient for taxpayers. This also means more benefits to taxpayers in terms of seamless, transparent, secured, and ease of making high value transactions.

Allowing Delegated Payments can be a pivotal step in expanding the userbase of Unified Payments Interface (UPI). Through this development, two family members can now use one bank account for making UPI payments. While we wait for more details, this initiative will further strengthen and enhance UPI payments especially in rural areas, where financial literacy is less, and one bank account is used by one family. This mechanism will enhance user convenience by ensuring effective control through the usage limit authorization feature. This will also empower consumer confidence with easy, safe, and hassle-free financial transactions, thereby contributing towards a digitally empowered nation.

Mr Saket Dalmia, President of India Sotheby’s International Realty

The RBI’s decision to maintain the policy rate aligns with expectations, given the current inflation and global economic scenario. While the near-term outlook for global growth appears positive, the medium-term outlook faces challenges due to demographic shifts, climate change, geopolitical tensions, and fragmentations. Despite this, domestic economic activity remains resilient. The MPC emphasized the need to maintain a disinflationary stance to ensure inflation aligns with targets while supporting growth, thus keeping the policy rates unchanged. Stable interest rates are beneficial for various industries, especially real estate.

We support the RBI’s current stance and anticipate future rate cuts, which would positively impact the real estate sector and contribute to overall economic stability and growth.

Mr Vimal Nadar, Senior Director & Head, Research at Colliers India

Amidst swift changes in global economic undercurrents with a moderate view on global economic outlook, RBI has remained cautious and maintained benchmark lending rates at 6.5% for the ninth consecutive time. Inflation, despite being within 6% levels, remains above the benchmark of 4% and thus, continuation of withdrawal of accommodation. In the first MPC meet after the Budget, the RBI has projected a GDP growth rate of 7.2% for FY 2025 led by robust high frequency economic indicators across key sectors.
Interestingly, stability in interest rates coupled with the recent announcement to rationalize stamp duty charges along with concessions for women homebuyers bodes well for real estate sector especially residential segment. Strong visibility in financing charges should help homebuyers and developers alike in the upcoming festive season.
Moreover, partial withdrawal of the applicability of the revised LTCG tax arising out of sale of land & buildings retrospectively provides elbowroom to effect housing sales with minimal tax outgo. This is likely to buoy investors’ & homeowners’ sentiment and thus the real estate sector at large throughout 2024.

Shrinivas Rao, FRICS, CEO, Vestian

RBI maintained status quo for the ninth consecutive time and kept the repo rate at 6.5%. Sticky inflation, elevated food prices, and global macroeconomic uncertainty likely influenced this decision. A steady monetary policy for the past one and half years has ensured stability in the real estate sector, boosting demand for all asset classes. This upward momentum is expected to continue as the repo rate is anticipated to remain stable for a couple of more months due to rising inflation amid increasing geopolitical frictions in the Middle East.”

Dharmakirti Joshi, Chief Economist CRISIL

Monetary policy expectations from the most influential central bank in the world, the US Federal Reserve, are becoming less restrictive for the emerging markets. European Central Bank (ECB) and Bank of England (BOE) have already initiated rate cuts.
The Fed is now expected to begin cutting rates next month due to cooling labour markets.

On the domestic front, with a lower fiscal impulse and investment focused spending, the budget was clearly non-inflationary. But that is not enough for the Reserve Bank of India (RBI) to initiate rate cuts yet. Other domestic factors, particularly inflation, still dictate a cautious wait and watch approach.

Food inflation is a hurdle and without a durable decline in it, headline inflation cannot be tamed to 4% on a sustained basis. A pick-up in food inflation in June dragged consumer inflation to 5.1%. To boot, the growth momentum remains strong. Inflation should decline in July, but the RBI will overlook it because that will be purely high-base effect. We expect RBI to begin cutting rates in October at the earliest and have penciled in two rate cuts this fiscal. By then, there will be clarity on food inflation as the monsoon would have played out. Good progress on rains and sowing so far offers hope.

Manish Chowdhury, Head of Research, StoxBox

The RBI has decided to keep the repo rate unchanged in its August MPC meeting, reflecting India’s robust growth despite uncertainties in weather, geopolitics, and AI-driven tech disruptions. While the economic outlook remains positive, the central bank refrained from revising the inflation forecast downwards due to elevated food prices. Confident in its inflation management efforts, the RBI aims to achieve its 4% target without disrupting liquidity. India’s economy is buoyed by resilient high-frequency and fiscal indicators, supported by an all-time high forex reserve, positioning the RBI well to handle unforeseen risks. However, the slow pace of inflation moderation necessitates caution. On the global front, the global economic outlook remains resilient although with some moderation in pace. Inflation is retreating in major economies, but service price inflation persists. International prices of food, energy and base metals have eased since the last policy meeting. With varying growth-inflation prospects, central banks are diverging in their policy paths. This is creating volatility in financial markets. Amidst recent global sell-offs in equities, the dollar index has weakened, sovereign bond yields have eased sharply, and gold prices have soared to record highs. Domestically, strong urban and rural consumption helped to maintain economic stability, while the global outlook shows steady but uneven expansion. The RBI emphasizes that sustainable high growth is unattainable without price stability. Encouragingly, the broad-based softening in core inflation continues. The potential La Nina conditions in the second half of the monsoon could impact agricultural production, adding another layer of complexity. Notably, the RBI Governor acknowledged the alignment between market expectations and RBI policies. He reiterated the focus on sustainably reducing inflation towards the 4% target before considering a policy shift. Given the current momentum in high-frequency indicators, there is optimism for upward revisions to GDP forecasts going forward. With more clarity on FY26 inflation and GDP growth trajectory going ahead, we expect the RBI to initiative dovish stance from Q3FY25 and a probable rate cut in Q4FY25.

Mr. Pankaj Kalra, CEO, Essar Oil & Gas Exploration & Production Ltd (EOGEPL)

“The RBI’s decision to keep the interest rate steady at 6.5% reflects a measured response to current inflationary concerns. This decision provides a stable economic environment that is vital for planning and investing in long-term project financing and capital allocation. The decision to uphold the ‘Withdrawal of Accommodation’ stance aligns with our expectations and supports economic stability, ensuring that we can continue our exploration and production activities without the added uncertainty of fluctuating borrowing costs. At EOGEPL, we will use this stable interest rate to promote growth and help strengthen India’s energy sector.”

Mr. Pralay Mondal, MD & CEO, CSB Bank

“The Central Bank has been looking at data and deciding on policy objectively. The food inflation and the impact of base effect on inflation doesn’t warrant a looser monetary policy. The reduction of reporting periodicity to CIC and continuous clearance of cheques are welcome steps. We believe that RBI will continue to keep the system liquidity in surplus to ease pressure on bank deposits.”

Mr. V. P. Nandakumar, MD & CEO at Manappuram Finance

Today’s MPC decision to keep the repo rate unchanged at 6.5% did not come as any surprise as the rate setting committee once again reiterated its stand on containing inflation without sacrificing growth. More importantly, the apex bank has kept the GDP growth forecast for the current fiscal unchanged at 7.2% which underscores its stance of `withdrawing accommodation’ while supporting growth. The MPC has decided to keep the repo and other policy rates unchanged in view of its inflation forecast for the current fiscal pegged at 4.5%. Though headline CPI print is moderating, the apex bank has decided to keep a strict vigil on underlying price pressures in view of the higher food prices. The key takeaway from the Policy is that a rate cut may be three or four quarters away depending on evolving headline inflation print and economic growth.

Esha Khanna, Assistant Professor at Sarla Anil Modi School of Economics (NMIMs)

Even as two members continue to turn in favour of rate and stance change, RBI seems to be extremely vigilant and unwilling to make any changes primarily driven by discomfort arising from elevated food inflation and rising household inflationary expectations since September 2023. Though there is a considerable ease in core inflation, firmness in current policy stance is the need of the hour as higher share of food in consumption basket can have a significant impact on inflationary expectations of businesses and households affecting further the wage demands and firms’ price setting behaviour which can change the course of overall inflation trajectory in the long-run. Going forward one cannot ignore the risk emanating from a dismal medium term growth outlook and ever increasing geopolitical tensions affecting external demand and may cause new supply-side disruptions. On the domestic liquidity front, transmission to lending rates (WALR) has been relatively lower compared to deposit rates but stands at 169 basis points for Public sector banks and 178 basis points for private sector banks but slowly increasing and can affect the domestic consumption depending on our interest elasticity of aggregate demand. Looking at the current liquidity scenario, RBI may continue to manage this tedious task of inflation-growth dynamics through its fine tuning liquidity management tools like VRR and VRRR auctions for little longer than expected without any change in policy rates. It would also be crucial to observe the anticipated easing of the monetary policy cycle by our global peers and its probable though likely positive impact on India’s forex reserves, FPI inflows and INR. If we remain divergent from global peers for a little while, RBI may look out for MSS and more OMO sales in near term to manage liquidity conditions. RBI’s emphasis on creating alternative investment avenues for bank retail customers, careful monitoring of retail loans and strict adherence required for regulatory prescriptions relating to loan to value (LTV) ratio, risk weights and monitoring of end use of funds by Banks and NBFCs will contribute to strengthening the financial system.

Siddhartha Sanyal, Chief Economist and Head of Research, Bandhan Bank

“The status quo on the repo rate is no surprise. The central bank was emphatic to underscore their commitment for further disinflation. They seem to be in no hurry to cut rates.

While RBI closely watches the heightened volatility in financial markets globally, it rightly avoids any knee-jerk reaction.

Given India’s generally strong macro backdrop including current account deficit of sub-1% of GDP, decent FII flows and a large forex reserve cushion, one feels that fundamentally INR is on a strong footing.

Growth in reserve money – the measure of primary liquidity infusion by the central bank into the banking system – has been markedly weak, often in a range of 6-8% y/y during the last two years. Given the trend of bank deposits growth lagging credit growth now for 28 straight months, one expects the RBI to step up the pace and quantum of primary liquidity infusion in the coming months in order to provide the desired quantum of liquidity for smooth functioning of the banking system.”

The Center will be led by the K K Birla Goa Campus and supported by the Alumni Office and Incubation Societies of the institute

National, 8th August, 2024 – BITS Pilani, an institution known for its commitment to innovation today announced the establishment of a Bangalore Center for BITS Pilani. The development marks a major stepping stone for the institution in achieving its vision of fostering innovation and industry collaboration. The purpose of this key move is to open the door to numerous opportunities for BITS Pilani students, researchers, faculty, incubators, accelerator programs, and the institution itself.

Located in a city known for its lively technological ecosystem, the newly unveiled BITS Pilani office at Bangalore is primed to mark the presence of over 800 alumni creators and the largest concentration of alumni in any single city worldwide. It is located at the heart of the startup area of Bangalore in HSR Layout , home to nine unicorn offices. The space has been sponsored by Hustlehub, one of the largest providers of enterprise & coworking office spaces, in Bangalore.

The major objective of the BITS Pilani Bangalore Center is to establish collaboration with the corporate community including alumni and non-alumni-led organizations. The Center will contribute to the scope of institute initiatives, like adding Practice School and Placement stations, securing industry-sponsored research and consultancy projects, and developing the curriculum of the institution to be industry-aligned and make students job ready. A key focus will be to establish networks that can provide mentorship and investment to student and alumni start-ups. Engagement with corporate initiatives related to their Innovation programs and CSR requirements will support institute incubators and start-ups, infrastructure development, and scholarship schemes. These efforts are expected to create significant social impact.

Speaking at the inaugural event, Prof. V Ramgopal Rao, Vice Chancellor, BITS Pilani said “BITS, Pilani Bangalore Centre exemplifies our resolve to foster innovation and industry collaboration. Launching a new Centre in Bangalore will help us intensify our relation with the local community and create a dynamic ecosystem that nurtures innovation and the development of budding entrepreneurs and researchers.”

Prof. Goel, founding lead of the BITS Goa Innovation, Incubation & Entrepreneurship Society also expressed her gratitude, stating, “We are immensely thankful to the alumni who have always been the backbone of institute initiatives. The support of various founders and investors for the activities of this Center will be the key to scaling its operations. Early support has been already committed by alumni founders of Hustlehub, Quizizz, Questt, Innaccel, Bewgle, Flutura, Flam, Portkey, Bogmalo Foods, Petasense and VC founders from Blume, AllinCapital,etc. The initiative is being led by BITS Pilani K K Birla Goa Campus and Prof. Suman Kundu’s efforts have been key in bringing this project to fruition. We look forward to building more partnerships in the city to drive innovation and excellence in education.”

The BITS Pilani Bangalore Center will be led by Prof. Mridula Goel from the K K Birla Campus in Goa, supported by the Alumni Affairs Division and the institute’s Incubation Societies. Prof. Goel has a proven track record of helping BITSians and others transform their ideas into successful startups.

Delhi, August 2024– KLK Ventures Private Limited is pleased to announce its partnership with the Uttar Pradesh State Rural Livelihood Mission (UPSRLM), part of the Department of Rural Development, for a groundbreaking project. The collaboration will involve the installation of a 75 kWp On-grid Hybrid Net Metered Solar PV System with a one-hour battery backup at the THR (Take Home Ration) Production Units.

This project marks a significant step forward in improving the efficiency and sustainability of these vital units, which are instrumental in providing essential nutritional support to women and children throughout Uttar Pradesh. By harnessing solar energy, the THR Production Units will benefit from reduced electricity costs, allowing for a greater allocation of resources towards enhancing and expanding nutritional programs. The shift to solar power also promises to lower operational costs and decrease dependency on traditional energy sources.

In addition to economic benefits, the installation will contribute positively to environmental sustainability. The solar PV system is designed to reduce carbon emissions and support efforts against climate change. The backup battery feature ensures uninterrupted production of rations, even during power outages, thereby maintaining consistent service and contributing to environmental protection. The one-hour battery backup is particularly crucial, providing the necessary stability and continuity in production. This feature allows the THR units to operate without interruption during power cuts, ensuring that the quality of the rations remains high and meets the required standards for health and well-being.

Akshat Jain, CEO of KLK Ventures Private Limited, stated, “We are thrilled to partner with UPSRLM on this transformative project. By integrating solar energy into the THR Production Units, we not only contribute to environmental sustainability but also enhance the efficiency of essential nutritional programs. Our commitment is to deliver impactful solutions that support both the community and the environment.”

This initiative also plays a key role in empowering local communities. By reducing energy costs and providing a reliable power supply, the project enhances the sustainability and economic viability of the THR Production Units. This, in turn, supports job creation and economic development in rural areas, further strengthening the community.

KLK Ventures Private Limited is dedicated to executing this project with excellence, leveraging its extensive expertise in renewable energy. The company, in collaboration with UPSRLM, is committed to advancing sustainable practices while supporting the nutritional needs of Uttar Pradesh’s communities.