NITKonnect Announces Its Annual Flagship Conference, NITKonnect 2023

* NITKonnect has signed a MOU with TiE Bangalore to jointly further the growth of the start-up ecosystem in Karnataka.

* “Engineering the New Bharat”

NITKonnect, a platform created by NITK Alumni Association Bangalore Chapter has announced its annual flagship conference, NITKonnect’23, on Feb 4th,2023.The 2nd edition of this annual event will feature a power packed line-up of Indian and global business leaders, experts, strategists, and policy makers. The summit will focus on the theme  –“Engineering the New Bharat”, keeping in mind the rapid growth trajectory that India is on in its quest to become the no.3 economy in the world by 2030. 400+ Business Leaders and Entrepreneurs will be participating in the deliberations spread out between the plenary sessions, keynotes, panels and sectoral huddles.

Mr.Rajeev Chandrasekhar, the Hon'ble Minister for Skill Development, Entrepreneurship, IT & Electronics. said " Thank you for inviting me for the NIT Alumni Konnect. I am sure that after passing out of NITK, a prestigious institution for high quality technical education and research, you all have charted your own lives in the manner you always wished.

I am happy that many of you have become entrepreneurs and run successful startups. Our government has always been supportive of such initiatives and has worked towards providing an enabling policy framework.

Today India is the third largest startups ecosystem in the world. Our Government under Hon’ble PM Narendra Modi ji has put in place well-calibrated policies & programmes that are catalyzing India’s Techade while nurturing a vibrant startup and innovation ecosystem.

Events such as NITKonnect are in my opinion an important element of fulfilling the vision of New India. At many places, alumni associations are helping entrepreneurial growth by incubating and handholding startups. As a government we intend to encourage and co-partner with such associations and drive India’s progress during the Amrit Kaal.

The plenary session will feature Mr.Aravind Melligeri(Chairman & CEO,Aequs Group and a NITK Alumnus) & Mr.Koshy(CEO, ONDC) who will outline the key imperatives and policy initiatives that are essential for the country to progress towards the vision of “Amrit Kaal” over the next decade.

Key speakers participating in the event include other NITK Alums who are at the helm of affairs in global corporations like Mr.Rajesh Rege, President-HoneyWell India, Mr.Ravindranath Gumaste, MD-Kirloskar Ferrous, Mr.Lingaraju Sawkar,President-Kyndryl India, Mr.Kaniappan,MD-ZF CV India and Ms.Srishti Sofat,SVP-Oracle Fusion CX. They will be outlining what it will take for ‘Bharat’ to become the Innovation Engine of the World by 2030.

To complete the innovation spectrum,  celebrated start-up founders like Mr.Aprameya Radhakrishna(Koo),Mr.Utham Gowda(Captain Fresh),Mr.Krishna Kumar(Simplilearn) and Mr.Raghunandan(Zolve) will share insights from their experiences on navigating the funding winter and staying afloat with startup founders.

Top notch organisations and emerging blue chip companies such as Effigo, Capstone Ventures, IMML, Koo, Peps, Kyndryl, Saint-Gobain, ZF, eSumudaay, Simplilearn, Smart Q, DriveU,Aequs, Poise Motors, Kirloskar Ferrous and Good Meetings have provided the much needed support for hosting this event.

Key Highlights

* NITK Alumni have founded exceptional startups in the last 5-6 years. The startups have achieved valuation in excess of USD 10 bln. To sustain this momentum, NITKonnect organised a Start-up Pitch session to identify budding entrepreneurs within the community. Over 50 start-ups participated in this challenge, of which the Top 5 promising start-ups that demonstrated innovation, viability and novelty were selected via a stringent evaluation process run by a Global Investor Panel. These start-ups attracted a commitment of upto USD 1.5 Mln from the investors and will be accorded special recognition at the event.

* The Curtain Raiser event for the Summit saw the launch of an unique cross border collaboration between Bengaluru and Bay Area via the ‘Initiative. This will be a common platform for global NITK alumni to leverage synergies for business growth, market expansion and access to funding.

* NITKonnect also announced the inking of two powerful collaborations with TiE Bangalore and Your Story respectively.Commenting on these collaborations, Mr.Niranjan M,President-NITK Alumni

* Association(Bangalore Chapter) opined “At NITKonnect, our vision is to set up an investment syndicate and an incubation centre which will groom and mentor start-ups to set up sustainable ventures, with potentially a Unicorn in the next 5 years. We are absolutely thrilled at the prospect of partnering with two giants of the entrepreneurial ecosystem in TiE Bangalore and Your Story. We are eagerly looking forward to working closely with both of these organizations in realising this dream.”

* NITKonnect has signed a MOU with TiE Bangalore to jointly further the growth of the start-up ecosystem in Karnataka. Early stage start-up founders will be able to draw upon the collective expertise of the 1000+ strong community for mentorship, access to funding, capability enhancement through knowledge sharing sessions and networking for business growth. To facilitate this, TiE Bangalore will be offering membership at a special price to start-up founders associated with NITKonnect. Commenting on this development, Mr.Madan Padaki, President-TiE Bangalore said “ We are really excited to partner with NITKonnect on this unique initiative. Enabling access to funding & investors and providing support to entrepreneurs by way of mentorship, access to markets and customers are key pillars of TiE Bangalore. This collaboration with NITKonnect will provide a great fillip to the combined efforts of both the organizations in expanding the ecosystem further by way of a larger pool of mentors & investors.”

* NITKonnect’s collaboration with Your Story, a leading media technology company for startups, entrepreneurs, investors, innovators and change makers, will focus on coverage of the various initiatives undertaken by NITKonnect as well as mutual speaking/workshop opportunities. The phenomenal reach of Your Story’s digital platform will be leveraged to capture compelling stories of entrepreneurial ventures launched by the NITK alumni.

For more information on the event, visit https://www.nitkonnect.in/

About NITKonnect

NITKonnect is a platform created by the Alumni of NITK Surathkal that offers NITK entrepreneurs, CXOs in large organisations, investors, professionals, and enablers to connect, synergise and co-create the next wave of Unicorns. NITK Surathkal is one of India’s Top 10 Engineering Colleges which was established in 1960 and has 40,000+ alumni over 55 batches, with over 5000 alumni in Bengaluru. NITK Alumni is an influential and impactful network responsible for founding some of India’s most innovative start-ups with 1 listed Unicorn(Delhivery), 5 Soonicorns and over 150+ venture funded start-ups. To add to this, NITK Alumni are also at the helm of affairs in several large multinational corporations with $100 million in revenue.

About The Indus Entrepreneurs (TiE) Bangalore

TiE Bangalore is a chapter of The Indus Entrepreneurs (TiE), a global nonprofit organization focused on supporting entrepreneurship. With over 1,000 members, TiE

Bangalore is one of the largest chapters of TiE and plays a key role in supporting the startup ecosystem in the Bangalore region.

BMW Motorrad Kick-Starts GS Experience 2023 In Indian Market

* Learn to maximise the thrill of riding the BMW GS across 11 cities in India.

* Two-day adrenaline-pumping GS riding experience for motorcycle enthusiasts by BMW Motorrad Certified Trainers.

* #BMWMotorradIndia #BMWMotorrad #MakeLifeARide #GSExperience #Adventure #Biking #Training #Riding #GSExperienceIndia #GSExperience2023

BMW Motorrad commences its most awaited training program – GS Experience 2023 in India. GS Experience will offer riders a unique opportunity to experience the exceptional capabilities of BMW Motorrad’s class-leading legendary GS range in its natural habitat. The GS Experience is a two-day curated training session designed exclusively for BMW adventure motorcyclists.

BMW Motorrad will host this two-day immersive brand experience for GS enthusiasts across 11 cities – Delhi, Chandigarh, Mumbai, Pune, Chennai, Hyderabad, Ahmedabad, Kolkata, Kochi, Bengaluru and Lucknow.

Mr. Vikram Pawah, President, BMW Group India, said, “The GS imbibes adventure, unlike any other motorcycle. BMW Motorrad is rewriting the success story of adventure biking in India and the Spirit of GS continues to pave the way forward. The GS Experience is a special riding program for adventure seekers across the country. No matter what your riding style is, this training course is designed to help enhance your abilities, increase your comfort and maximize your enjoyment of your time on two wheels. Under expert guidance from BMW Motorrad Certified trainers, participants will be geared to fully explore the world of adventure and master every challenge with their GS.”

Designed exclusively for BMW GS owners the two-day level 1 program will help riders to master basics of off-road riding. The day 1 training program is for BMW GS owners of 650 cc and above GS bikes. While the day 2 is for BMW 310 GS riders. The training includes basic familiarity of the motorcycle, understanding of correct rider position, enduro steering and other exercises such as gravel riding, emergency stops on slope, emergency braking and riding on inclines. Riders automatically qualify for level 2 training upon successful completion of level 1.

The GS Experience training also preambles the nationwide search for ‘Team India’, a trio of GS riders forming a team to contest the coveted International GS Trophy. BMW Motorrad recently announced the next destination for the International GS Trophy 2024 as Namibia.  BMW Motorrad India will hold the GS Trophy qualifiers later this year.

The GS Experience showcases the dynamic qualities of each GS model in real-world conditions and techniques to enjoy the Spirit of GS while ensuring highest safety. Each session includes a briefing and demonstration by certified BMW Motorrad Trainer that will take riders through the impressive array of technologies available on the GS range of motorcycles. The sessions offers riding experience on a combination of bitumen and off-road under expert supervision.

Aptiv Announces Grand Opening Of New State-Of-The-Art Campus For Its Technical Center In Bengaluru

 ·        Technology company Aptiv inaugurates new $14 million campus to accelerate the transformation to the software-defined vehicle and develop safer, greener, more connected mobility solutions

·        Aptiv TCI will support OEMs in passenger and commercial vehicle markets for Indian and global customers

·        Aptiv TCI Bengaluru facility reinforces the company’s commitment to its people and future growth in India

Global technology company Aptiv inaugurated a new $14 million Technical Center campus in India, one of its largest sites. With a focus on developing safer, greener and more connected mobility solutions, the Aptiv Technical Center in India is a key engineering and software hub. The facility was inaugurated in the presence of the global leadership team, the employees of Aptiv and their families.

The 237,000-square-foot state-of-the-art campus is located at Brigade Tech Gardens, Whitefield, Bengaluru. The Aptiv Technical Center India (TCI) currently employs over 2,000 personnel focused on developing and delivering products and software-enabled solutions, and plans to aggressively grow its workforce over the next five years. The team has expertise in cybersecurity, advanced safety, connectivity and digital cockpit capabilities. The site serves as a center of excellence for ADAS platforms and technologies and digital cockpit solutions. In addition to meeting the needs of commercial and passenger vehicle OEMs in India, TCI will support OEMs across all global regions. 

The campus brings together Aptiv’s broad range of technology, innovation and capabilities in a modern environment designed to accommodate the needs of its future workforce. It houses an innovation center and electrical labs to support the development of critical technology products. The facility is designed to support increased collaboration, with an open-concept workspace and social hubs. TCI is well-connected with business districts and aligns to Aptiv’s global sustainability and carbon neutrality targets.

At the inauguration, Mr. Glen De Vos, Senior Vice President, Transformation and Special Programs, Aptiv said, “Aptiv is committed to India, and the opening of our new Technical Center in Bengaluru marks another milestone since establishing our presence in India nearly three decades ago. Over the past few years, Aptiv TCI has made significant investments, doubled its workforce, and accelerated the impact provided to Indian and global OEM customers. The new facility will support the development of critical technology products – and at the same time, better support our valued employees who work on cutting-edge technologies to drive innovation and solve our customers’ toughest challenges. The Technical Center India will play an important role in our efforts to accelerate the digital transformation and enable the software-defined future of mobility.”

Mr. Amitabh Mathur, President & Managing Director, Aptiv India & ASEAN added, “India is a thriving economy with great potential for growth, and a highly skilled talent pool, making it an attractive market for this expansion and investment. The new Technical Center in Bengaluru demonstrates Aptiv’s commitment to expanding its footprint in India. With a mission to build a future with zero collisions and zero emissions, we will continue innovating and defining the latest technologies for our consumers.”

About Aptiv

Aptiv PLC is a global technology company that develops safer, greener and more connected solutions enabling a more sustainable future of mobility. Headquartered in Dublin, Ireland, with more than 190,000 employees strategically located to serve customers globally, Aptiv is solving the industry's toughest challenges with scalable, intelligent platforms that accelerate the transition to software-defined electric vehicles. To learn more about the company's unique brain and nervous system portfolio and its commitment to sustainability, visit aptiv.com.

Aptiv in India

Aptiv has had a presence in India since 1995, and today operates seven manufacturing plants, three technical and engineering centers and one global tooling center across strategic locations. The Technical Center in Bengaluru employs engineers and technologists with niche skills and capabilities. The manufacturing sites in Chennai, Cochin, Dharuhera and Pune specialize in manufacturing products for Advanced Safety & User Experience, Connection Systems and Electrical Distribution Systems.

About TCI

Technical Center at Bengaluru is one of Aptiv’s largest global engineering and technology centers. The facility is equipped to support OEMs across all major regions – the United States, Europe, Asia, and India – with expertise in products, solutions, cybersecurity, advanced safety, connectivity, and digital cockpit solutions.

The engineers and technologists at TCI have adopted new technologies such as network communication, multicore embedded, virtual validation solutions, CAN, MOST, OTA System Architecture, Driver Monitoring systems, Infotainment systems, Integrated Cockpit controller, Audio Amplifier/A2B, Middleware & DevOps, machine learning based intelligent safety solutions and Level 2, 2+ and 3 for  Autonomous driving products.

Tata Motors Commences Deliveries Of The ‘Fastest Booked’ EV In Indian Market

* Hands over the 1st batch of 2000 Tiago.evs to customers, across 133 cities 

In line with its commitment towards evolving to electric, Tata Motors, India’s leading automobile manufacturer delivers the first batch of 2000 Tiago.evs, marking an electrifying start to the year. The Tiago.ev has received a stupendous response from the market, surging past the 10,000 mark booking in a single day, making it the Fastest Booked EV in India.

This remarkable response inspired the Company to extend the special introductory pricing to an additional 10,000 customers, who too went ahead and booked their favourite electric hatch in no time. With 20K+ bookings, the Tiago.ev has charmed the country with its exciting, effortless, eco-friendly and premium EV drive experience.

Commenting on the love and faith showered by its customers on the Tiago.ev, Mr. Vivek Srivatsa, Head, Marketing, Sales and Service Strategy, Tata Passenger Electric Mobility Ltd. said, "The launch of the Tiago.ev was aimed at accelerating the adoption of EVs by democratising the Indian EV market and we are happy to announce that we are on the right path with this product, with cars retailed across 133 cities on the back of a robust sales network. The sheer trust in this brand has led to the success we are celebrating today. With a 38.6% growth YoY in EVs (as of January 2023), we remain committed to our vision of providing customers with the best, helping make EVs accessible to all.

“Furthermore, we would also like to extend our gratitude to the channel partners across the country who are helping us in our journey and realizing the dream of India evolving to electric”

The Tiago.ev is a fun electric trendsetter, a segment first disruptor which offers premium, safety and technology features, eco-friendly footprint, spirited performance, all made even more desirable with the added advantage of a low cost of ownership. It is the first in its segment to offer best-in-class connected features as standard across all trims, that are usually offered in more premium cars. To know more about the Tiago.ev, customers can visit Tiagoev.tatamotors.com or visit nearest dealership.

Toyota Kirloskar Motor Inaugurates Its 18th Center Of Excellence At Bengaluru, Karnataka

* Continues its contribution to “Skill India Mission” by developing skill development at grassroot level 

Emphasizing its commitment towards the creation of a world-class skill pool including nurturing a mind-set for excellence in quality, Toyota Kirloskar Motor (TKM) today announced the setting up of a Center of Excellence (CoE) in JAIN (Deemed-to-be University), Faculty of Engineering and Technology at Bengaluru, and 18th CoE in the State of Karnataka. Aimed at offering the students hands on experience about engines and powertrains and its functioning, the center will provide students with the opportunity to assemble and disassemble an engine and understand better about automobile powertrains. 

The inauguration was graced by Shri Ravindra Bhandary, Vice President, JAIN Group, Dr. S. A. Hariprasad, Director, Jain University-Faculty of Engineering and Technology (JU-FET) and Mr. Sudeep S Dalvi, Sr Vice President, Director & Chief Communication Officer, TKM along with other senior officials.  

Drawing inspiration from Toyota’s aim of enhancing skill-levels of students and provide trained and competent work force for the automotive industry, the institute will have a robust curriculum to impart high quality skill education, by providing expert trainers, facilities, and equipment. The CoE set up within the campus will feature a Toyota engine, transmission, and powertrain as cut section and do-it-yourself models. 

Commenting on Toyota’s support in developing world-class infrastructure and skill programs, Shri Ravindra Bhandary said, “We are extremely happy to collaborate with Toyota, who are at the forefront of pioneering automotive technologies across the world. The Center of Excellence will serve as a great learning opportunity and provide practical exposure for our students beyond the classrooms. These initiatives are vital to make our students industry-ready and employable in a fast-growing automobile sector. We are thankful to TKM for their immense contribution towards skill development of our students and look forward to further strengthening our collaboration.” 

Sharing his thoughts, Mr. Sudeep S Dalvi, Sr Vice President, Director & Chief Communication Officer, TKM said, “As an organization, we understand the emerging skill landscape and the gaps that exist in the formal training. Through this initiative our efforts are to plug the skill gap, which in turn will enable the auto industry to reach higher levels of global competitiveness. In addition, the Center of Excellence will aim to foster experiential learning so that students can develop a better understanding of concepts and advanced technologies. We are happy to collaborate with Jain University, and we hope that through this initiative we can create more learning opportunities for the students.” 

Over its 25 years of existence in In India, TKM has been passionate about creating a scalable and sustainable skill initiatives focused to bridge the gap underlying India’s rapidly growing manufacturing sector with evolving technologies and skilled manpower. These efforts also will ensure contribution to the country’s vision of achieving self-reliance through ‘Make in India’ and ‘Skill India’. The company had last year announced Phase II of Toyota Technical Training Institute (TTTI) which involved major enhancement of skilling infrastructure, with a goal to skill a larger number of students from rural backgrounds in advanced automotive technologies, thereby making them industry ready and employable.  

Aakash BYJU’S Launches First Ever Self-Evaluation Tool For NEET Aspirants – “Know Your NCERT” (KYN)

* The toolkit will offer curated modules in Physics, Chemistry, Botany and Zoology to students of Classes XI to XII, offering a complete learning experience. 

* This toolkit is a game changer for NEET aspirants as it offers a plethora of questions of varied types after every chapter as per NEET pattern. This will enhance students’ proficiency levels with deeper analysis.  

* Integration of KYN along with NCERT Maps ensures quick, repeated revisions and effective recall of topics. 

In its endeavor towards making subjects easy and keeping the students close to the NCERT syllabus, Aakash BYJU’S, the leader in test preparatory services in India, has launched the ‘KNOW YOUR NCERT (KYN) kit for NEET aspirants. The toolkit will offer curated modules in Physics, Chemistry, Botany and Zoology to Aakash BYJU’S students of Classes XI to XII, offering a complete learning experience.  

The KYN kit has been developed for frequent revisions of NCERT content and practice questions as well as their interpretation in mind. The questions have been framed on both concepts and facts that have been repeatedly asked in previous years’ question papers. Several lines of NCERT textbooks that are relevant to NEET but are often ignored by students also have been analyzed in-depth to create questions based on them. 

KYN will assist students in comprehending a wide range of questions that may be asked in NEET and gain the ability to answer such questions with speed and accuracy. It also allows students to self-evaluate their level of preparation with NCERT and helps them in identifying areas for improvement. This toolkit is a game changer for NEET aspirants as it offers a plethora of questions of varied types after every chapter as per NEET pattern. This will enhance students’ proficiency levels with deeper analysis. Integration of KYN along with NCERT Maps ensures quick and repeated revisions and recall of topics. 

Commenting on the program, Mr. Abhishek Maheshwari, Chief Executive Officer, Aakash BYJU’S said, “Our academic pedagogy and study material have been creating doctors and engineers for many years and the legacy is continuing with constant innovation and creativity in our well researched and most relevant study material with advancements in academic delivery methodology.” 

He added “NCERT is the first step towards success in NEET. We are always innovating, researching and developing study materials using advanced academic delivery methodology. Know Your NCERT will provide an in-depth understanding of the NCERT books, giving aspirants a competitive advantage over their peers and helping them in scoring higher in NEET. Our program is aimed at engaging and nurturing learners and we continuously enrich the academic pedagogy and study materials.” 

Launch Video: https://www.youtube.com/watch?v=My47EtTaE6A 

Aakash BYJU’S mission is to help students in their pursuit of academic success. It features a centralized in-house procedure for curriculum and content development, as well as faculty training and monitoring, led by the National Academic Team of Aakash BYJU’S. Aakash BYJU’S students have a proven track record of selection in several medical and engineering entrance exams, as well as competitive tests such as Olympiads, NTSE and KVPY. 

The “14th Edition Of India Online Poker Championship” Presented By Spartan Poker Returns With The “Highest-Ever Prize Pool Of 43 Crore”

Amin Rozani, Founder and Group CEO of Spartan Group, shares key insights into his company’s flagship mega-event India Online Poker Championship (IOPC). The online gaming industry maverick talks about the major highlights of IOPC 2023, shares his views on why poker dominates the online gaming industry. 

The India Online Poker Championship (IOPC) is the country's longest-running and biggest poker tournament. It began as an online dimension to Spartan Poker’s offline event, India Poker Championship (IPC). The first series was a small-scale affair with a modest turn-out, but in time the event grew in popularity and today attracts players from all over the country. 

“Today IOPC is the country's premier poker series that happens bi-annually. We first began the marquee event in 2015, with a guaranteed prize pool of around INR 7 lakhs. Over the years, the event has grown considerably with our 14th edition offering players INR 43 Crore in guaranteed cash prizes.”, says Amin Rozani reminiscing on his journey with IOPC. 

The 18-day tournament, IOPC, kicked off on 19th January 2023 and will conclude on 5th February 2023. It is packed with 142 remarkable tournaments and the prestigious 'Golden Crown' made of 18-carat gold and 0.6-carat diamonds. This edition of IOPC will also see the biggest-ever leaderboard in the history of Indian Poker, with a mammoth 1.5 Crore up for grabs! 

“Over the years we have witnessed millions of skilled individuals putting forth their A-game, getting amazing prizes, and having a boisterous time overall. The trust and confidence of poker-buffs in IOPC have been the fuel for us to grow IOPC and offer a better gaming experience with every edition.”, says Amin Rozani. 

The ubiquitous nature of the internet, coupled with the sharp decline in smartphone prices, has led to a spurt in all things digital, including online gaming. The gaming business in India has developed dramatically over the past few years, with over 450 million active gamers and streamers, and more entering the fray daily. Within the sector, the latter is one of the fastest-growing segments. The market is expected to grow at a CAGR of 25% to reach USD 5 billion in 2026, a whopping 3X growth from the USD 1.6 billion it garnered in 2021. Source - https://redseer.com/newsletters/casual-card-games-leading-indias-real-gaming-market-to-a-3x-growth/ 

Poker is the most popular card game in the world for a reason. It's a game full of surprises, and the permutations and combinations are limitless. There are several formats, multi-player gaming, strategies, and games to choose from. And, while it may appear simple in principle, it is a game that demands abilities that are simple to acquire but difficult to master. Preparing for a championship involves both preparation and discipline. Poker is an adrenaline-pumping, exciting game that may be played with friends or against worthy opponents, and the prize at the end adds to the thrill and excitement. 

Several factors contribute to the rising popularity of online poker - the increased usage of smartphones and the internet, the increase in the use of digital payments and e-wallets, improved technology for better gaming interface and an overall increase in the awareness and adoption of online gaming, in general, and poker, in particular. Traditional sports have physical/spatial limits; however, because of its reliance on digital networks, Online Poker is more fast-paced and scalable. 

Poker has been mentioned in several academic studies as a game of skill. It is a game in which experience, knowledge, and fundamental mathematical principles far outweigh the element of chance. A certain degree of chance always exists in every sport ever played, but players all around the world aim to lessen this aspect by continually making smarter mathematical judgments. The players are known to constantly train themselves on the most recent strategies developed in the sport while also utilizing?their experience to gain an advantage over their opponents. 

Thanks to events like IOPC, which have helped develop a burgeoning community of professional and upcoming poker players in the country, the game has seen great growth in the country. Also, with low-buy-in tournaments, IOPC has spread to the most distant regions of the country, providing Poker with the much-needed boost it has been yearning for years. 

“Poker's versatility as a game is what makes it so appealing.”, Amin Rozani said, “We see participation from all strata and demographics across India at IOPC, which is the country's greatest poker tournament. Initially, we saw just the professional fraternity avidly preparing for and anticipating the event and having a good time during the tournament. However, in recent years, we have observed an increase in young professional poker players from smaller towns in India, many of whom make a career from the game.” 

It is easy to be bogged down by the thought of having to choose between multiple poker platforms on which to set base and enjoy the game. However, a player can narrow down the possibilities by checking the following factors that all genuine and safe poker platforms like Spartan Poker employ. 

Spartan Poker is accredited by prominent certification agencies to assure fair gameplay on its platform. This require integral factors like shuffling cards to distribution, dealing, and choosing the joker card to be impartial in order to keep the game fair. Platforms like Spartan Poker work on RNG (Random Number Generator) certification to ensure this. It generates a completely random pattern of cards that rules out the predictability factor so nobody can influence it. 

Spartan Poker conducts due diligence regarding the documentation it requests from players, so that the player profiles may be trusted. It insists that any cash-out request will be executed only after the PAN card associated with the profile has been verified and that the cash-out will be deposited only in a bank account associated with that PAN card. 

The seamless integration between the gaming software and the accounts management system gives the player the confidence to deposit freely and withdraw whenever they want to enjoy their well-deserved earnings, which is the second most important feature to practice responsible online gaming. Spartan Poker has ensured that this is the case. The company has developed a comprehensive and watertight system to ensure that all deposited funds are systematically associated with the players’ accounts. Players can quickly transfer funds to their poker wallets quickly using a variety of payment channels. 

“Simply put, at Spartan Poker we strive to always provide a unique, responsible, immersive, complete, and rewarding gaming experience for casual and professional gamers alike.” Added Rozani. 

Action-Packed To The Tee: BMW Golf Cup 2023 Commences In India

* The largest international tournament series for amateur golfers.

* 15 Golf tournaments in 9 cities at the finest golf courses across India.

* Exclusive BMW Lifestyle Collection on display with attractive discounts.

* #BMWGolfCup2023 #DrivenByPassion #BMWGolfSport #BMWIndia #SheerDrivingPleasure

BMW India kick starts its India edition of the largest amateur golf tournament – The BMW Golf Cup 2023 in Chennai today. The much-awaited golf tournament will be held at spectacular golf courses across Chennai, Bengaluru, Hyderabad, Pune, Mumbai, Ahmedabad, Noida, Kolkata and Gurgaon. The winners of the regional tournaments will compete at the national finals which will be held in November 2023.

BMW Golf Cup, one of the world’s largest amateur golf tournament series can trace its roots back a quarter of a century to a British-based initiative that ran on its own for five years before going international. The tournament started as the BMW Invitation Tournament in UK. It has now developed into a global series with 1,000 qualifying tournaments involving 100,000 players in up to 50 countries. The best players from each nation qualify for the highlight, the BMW Golf Cup World Final.

Mr. Vikram Pawah, President, BMW Group India said, “BMW Group India has been a long-standing promoter of golfsport from grassroots to professional level in the country. The BMW Golf Cup is an outstanding tournament in every regard. It offers a fantastic opportunity for amateur golfers to hone and showcase their talent at some of the best golf courses in the country. The BMW Golf Cup is always one of the key highlights of the year and a title that all amateur golfers are keen to win.”

An exclusive, invitation-only event, the BMW Golf Cup 2023 is open to golfers who are members of recognised golf clubs in country. The tournaments are held in accordance with the rules of the respective local golf club. It is also a loyalty program that rewards BMW customers with a chance to qualify for one of the largest amateur golf tournaments in the world. BMW India dealers identify amateur golfers amongst BMW owners who would be interested in participating in the tournament.

India is one of 50 participating countries at the World Final of BMW Golf Cup 2023 which is a global series with 1,000 qualifying tournaments involving 100,000 players. The BMW Golf Cup is an amateur golf tournament series designed for customers, prospects and opinion leaders and provides the right mix for an exclusive social interaction.

The BMW Golf Cup has three categories, A (for handicaps up to 12), B (for handicaps 13 – 28) and Ladies Category (for handicaps up to 28). The winners, runners-up and second runners-up of the individual handicap categories qualify for the National Final. The winners in each of the three handicap categories in the National Final qualify to take part in the World Final of BMW Golf Cup.

The Winners of BMW Golf Cup 2023 in Chennai are as follows:

Men A (Handicaps 0 -12)

Winner – Ram Pramukh Reddy

1st Runner Up – Ishwar Achanta

2nd Runner Up – Darshan V

Men B (Handicaps 13-28)

Winner – Ramakrishnan

1st Runner Up – Duraisamy Arappan

2nd Runner Up – N Rajeshwara Rao

Others

Closest to the Pin on hole #11 (BMW Excellence Club) (Men) – K V Ganesh

Closest to the Pin on hole #4 (Sunday) (Men) – Mohan Menon

Closest to the Pin on hole #15 (TaylorMade) (Men) – Gokulakrishnan M

Closest to the Pin on hole #15 (TaylorMade) (Ladies) – Premlatha

Longest Drive on hole #2 (Omega) (Men) – Arun Kumar

Longest Drive on hole #2 (Omega) (Ladies) – Pavithra Devi

Longest Drive on hole #7 (Vredestein) (Men) – Dr. Venkatesh

Longest Drive on hole #7 (Vredestein) (Ladies) – Geeta Thygarajan

Longest Drive on hole #17 (Ballantine’s) (Men) – Hari Shankar Mani

Longest Drive on hole #17 (Ballantine’s) (Ladies) – Revathy Sudhakar

Straight Drive on hole #18 (Lufthansa) (Men) – Samrat Nahata

Straight Drive on hole #18 (Lufthansa) (Ladies) – S Lakshmi

Birlasoft Records Disappointing Operating Performance In Q3, 2023

BUY

CMP: Rs272  

Target Price: Rs325

Birlasoft reported a disappointing operating performance in Q3FY23 and reported performance was further exacerbated by one-off provisions. Revenue fell 0.3% QoQ to USD148.4mn (flat CC), missed expectations, due to higher-than-usual furloughs and clients putting some projects on hold. Adjusted EBITM declined 180bps QoQ due to higher furloughs, investments in capabilities, and strengthening leadership. The exact financial impact of bankruptcy filings by Invacare remains indeterminable currently. Birlasoft has made a provision of Rs1.5bn against the outstanding receivables and contract assets and is taking legal advice on the matter. Invacare revenue run rate is <3% of revenue currently. Ex-Invacare, management expects operating performance in Q4 to be better than Q3 due to planned deal ramp-ups and absence of furloughs. It aspires to return to ~15% EBITDAM soon. We have cut EPS estimates by 13-34% for FY23E-25E, factoring in Q3 performance and client-specific issue. The stock’s valuation remains undemanding; however, the stock’s performance hinges on clarity on the impact of Invacare, revenue growth acceleration, and margin recovery in the coming quarters. We maintain BUY with a TP of Rs325 at 16x Dec-24E EPS (earlier Rs380), considering reasonable valuation (>6% FCF yield) and anticipated turnaround in operating performance.

Result summary: Birlasoft’s revenue declined by 0.3% QoQ to USD148.4mn (flat CC QoQ), below our expectation of USD149.9mn. Adjusted EBITM declined by 180bps QoQ to 11.2%, ~220bps below our expectations. Reported EBITM fell ~1420bps QoQ to -1.1% on account of Rs1.5bn provision created against outstanding receivables and contract assets related to the Invacare deal. Revenue growth was led by the BFSI (5% QoQ) and lifesciences (1.3%), while E&U and manufacturing fell by 1.7% and 2.6%, respectively, due to furloughs and project holdups. Among services, business and technology transformation and cloud and base services led the growth, registering 5.6% QoQ and 1.3% QoQ growth, respectively, while enterprise solutions declined by 7.1%. Larger accounts continued to drive growth with the top-5, top-10, and top-20 customers registering 1.7%, 1.2%, and 0.4% QoQ growth, respectively, in line with the company’s strategy to focus on strategic accounts and expand relationships. The deal intake in Q3 stood at USD231mn, including net new TCV of USD102mn. What we liked: Healthy deal intake, strong cash conversion, and moderating attrition (25.5% in Q3 vs. 27.4% in Q2). What we did not like: Weak operating performance, MSA termination by Invacare, and weakness in E&U and manufacturing.

Earnings call KTAs: 1) Birlasoft has created a provision of Rs1.5bn against the outstanding receivables and contract assets related to the Invacare deal in Q3. 2) Management highlighted revenue contribution of Invacare stood at less than 3% of its revenue in Q3FY23. Management indicated the billing run rate is 2x of the revenue run rate currently. Going forward, any revenue recognition for work performed/work to be performed will be recognized on collection basis. 3) While near-term uncertainties prevail, it expects healthy IT spends by its clients with a focus on operational excellence, customer experience, and cost efficiencies. 4) The company highlighted a leadership change in its key verticals of E&U, lifesciences, manufacturing, and hi-tech. 5) Management highlighted that while its growth in the enterprise business remained weak over the last couple of quarters, it expects the segment to have a turnaround in a couple of quarters with the manufacturing cycle turning. 6) Attrition trended downwards and stood at 25.5% in Q3FY23 vs. 27.4% in Q2FY23. 7) DSO stood at 55 days.

3i Infotech Delivers Strong Quarter Performance With Revenue Of Rs 182.3 Crore With 10% YoY Growth In Q3 FY23

* To invest in new service lines that offer 5G technologies offering with edge-ready computing

* Onboards 39 new logos in 9M FY23

* Will keenly focus on emerging verticals like EdTech, Agritech and Greentech

* The new order book for the quarter stood at Rs 39.5 crore

3i Infotech Limited (BSE: 532628, NSE: 3IINFOLTD), a leading digital transformation and technology solutions provider company, announced its consolidated financial results for the Third Quarter and Nine Months of FY23 ended December 31st, 2022. The company reported a consolidated revenue of Rs 182.3 crore with 10% YoY and 2.9% quarter-on-quarter growth, with a gross margin of 12.7 %. Having onboarded 39 new logos in 9M FY23, the company also announced its potential to develop an order book of Rs.100 crore based on their new product platform. Moving forward, 3i Infotech’s revenue mix will shift from classic enterprises to the next generation business. For the first nine months of the current fiscal year, revenues grew by 7.43 % to Rs. 538.7 crore with a gross margin of 11.4%.

3i Infotech aims to achieve US$ 1 Bn by 2030 by acting upon its Run, Grow & Build Model. The company has had a razor-sharp focus on cost optimization and has also been able to increase their topline while reducing the EBITDA losses simultaneously in the current financial year.  On the business front, 3i Infotech has made rapid strides with key deals from both private and public enterprises that includes being rewarded the Rs 250 crore WiFi monetization project by RailTel Corporation of India Limited over the next 5 years and mega contract from Eureka Forbes for three years of DIMS services among others.

Key Financial Highlights

Quarter ended December 31st, 2022

Operating Revenue was Rs 182.3 crore with 10% YoY and 2.9% QoQ growth

EBITDA was Rs (3.1) crore with 14.8% QoQ growth

Net Profit was grown to Rs 13 crore which is grown by YoY 35.7%. It was (22.6) Cr in same quarter last year

Nine Months ended December 31st, 2022

Total Revenue was Rs 538.7 crore

Net Profit was Rs 28.6 crore

Net cash stood at Rs 80.8 crore

Other Business Highlights

Q3 FY23 Revenues for Global Business Region was Rs.109.8 crore and has grown QoQ by 1.6% (including US, MEA, KSA, UK)

In Q3FY23, Application-Automation-Analytics (AAA) was one of the highest revenues contributors with Rs 131.4 crore followed by Infrastructure Management Services revenues of Rs 23.7 crore

In Q3 FY23 Revenues for India Region was Rs.67.3 crore and has grown YoY 35.2% and QoQ by 5.2% 

From a vertical standpoint, Banking & Financial Services (BFSI) is a major contributor in total revenue with a 35 % revenue share while Information Technology has a 33 % revenue share in Q3FY23

Top 20 clients in Q3FY23 contributed Rs 71.1 crore which is 39 % of our total revenues

10 new customers win added in Q3FY23 primarily from BFSI sector

Despite the headwind in US region, we are growing quarter on quarter. We have invested in new sales channel alliance/partnership in US and Middle East region for Digital and NxtGen business segment; the reward of these initiatives will start reflecting on revenues from Q4FY23

In tandem with its core service of providing seamless digital transformations with the NuRe led SMB strategy, 3i Infotech also reiterated on its promise to help enterprises be industry 4.0 ready. Along with BFSI, manufacturing (SMB and midmarket), retail, telecom, media, and entertainment sectors, 3i Infotech will also keenly focus on emerging industry verticals like EdTech, Agritech and Greentech.

3i Infotech will actively scale its operations across the global business region, which comprises of US, UK, Middle East, and Africa. With substantial initiative and directives in tech comprising of the launch of first ever Zero-Trust Sovereign Cloud in Malaysia and the unveiling of its first Centre of Excellence in Tirunelveli to bridge the industry gap with highly skilled engineers from the Tier II & III cities of India, 3i Infotech aims at a year with execution of new services and products, enhanced margins, and accelerated growth as a challenger.

Commenting on the Q3FY23 results, Mr. Thompson P. Gnanam, Managing Director and Global CEO, of 3i Infotech Limited, said: “The results for this quarter were in-line with our expectations. Despite macroeconomic uncertainty and furloughs in the quarter, we grew our revenue by 10% on a year-on-year basis. Our EBITDA margin is inching towards breakeven led by our focused cost rationalization strategy. We continue to remain focused on expanding our Edge computing capabilities, with the recent deal win of the RailTel WiFi Monetization Project being a key trigger to accelerate the momentum. While we see some macro issues and general weakness in the overall market, the demand environment continues to remain stable for us. The Company is slowly but surely transitioning to a services led portfolio offering with a focus on high growth and stable margins in the quarters to come.”

In the Q3FY23, the company has done restructuring at a global organization, eliminating non-profitable engagement, and cost rationalization in direct cost. Moving ahead, 3i Infotech will be investing in new service lines that offer 5G technologies offering with edge-ready computing for all emerging needs of the business.

Birlasoft’s Q3 Revenue Up 14% YoY to Rs 12,219 M & Signed TCV Deal Wins Of $ 231 M

* Strong cash flow generation with highest ever quarterly collections

Birlasoft, a part of the USD 2.8 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the third quarter ended December 31, 2022.

Mr. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “Our revenues for the quarter have grown 14% year-on-year and 2.5% quarter-on-quarter to Rs 12,219 million. Deal wins have also been strong at $231 million TCV for the quarter. We continue to strengthen our position as a domain and enterprise digital capability-led player. The business is fundamentally robust and we are making the investments necessary for future growth, which makes me confident about our outlook going forward.”

Other highlights

·         Signed deals of TCV $ 231 M during the quarter

o   TCV new deal wins of $ 102 M

·         Active Client Count at 299 in Q3

o   > $ 1 M customers at 83, up by 6 YoY

o   > $ 5 M customers at 24, up by 3 YoY

o   Top clients led growth - Revenue from Top 5, Top 10 and Top 20 clients grew YoY by 12.3%, 9.1% and 8.6% respectively

·         Cash & Cash equivalents of $ 121.1 M in Q3 FY23 versus $ 97.7 M in Q2 FY23

o   In Rs terms, cash and cash equivalents at Rs 10,015 M vs Rs 7,947 M; up Rs 2,068 M QoQ due to best ever quarterly collections reflecting the quality of services the company has been delivering

·         DSO continues to be best-in-class at 55 days

·         Manpower strength of 12,530 as at 31st December 2022 versus 11,945 a year ago

o   Net addition of 585 professionals YoY and net decline of 228 professionals QoQ

Deal wins for the quarter

·         Chosen by a leading US Energy & Utilities company for for renewal of Application Managed Services (AMS)

·         Selected by a US-based global engineering major for AMS and global support

·         Awarded business for a transformation program by a US customer in the Manufacturing vertical

·         Received a renewal from a Lifesciences & Healthcare customer for Governance Services

·         Awarded new business by a European design & manufacturing organisation for Cloud migration

Awards & Recognitions

·         Recognized by Microsoft as a Solution Partner for Infrastructure and Cloud workloads (Azure) and for Azure Data and AI

·         Recognized for Employee Transport Award at 7th Edition of the iNFHRA Workplace Excellence Conference & Awards 2022 - 23

·         Birlasoft’s Project Shodhan conferred with CSR Project of the Year at India CSR Summit 2022

·         Conferred with BTX Top Enterprise Award 2022 Asia at BTX Roadshow and Transformation Awards 2022 Asia

·         Birlasoft identified as a "Rising Star" in the Digital Business Enablement and ESG Services 2022' ISG Provider Lens™ Study - U.S.

·         Birlasoft identified as a "Leader/Rising Star" in the 'Oil and Gas Industry - Services and Solutions 2022' ISG Provider Lens™ Study - North America, Nordics            

·         Birlasoft recognized as a "Product Challenger/ Challenger" in the 'Oracle Ecosystem 2022' ISG Provider Lens™ Study - US, Brazil

·         Birlasoft recognized as a "Major Contender" in Everest Group's SAP Business Application Services PEAK Matrix® Assessment 2022 – Global

·         Birlasoft recognized as a “Disruptor” in Avasant’s Hybrid Enterprise Cloud Services 2022-2023 RadarView™

·         Birlasoft positioned as "Challenger" in Avasant's Blockchain Services 2022-2023 RadarView study

·         Birlasoft positioned as a "Product Challenger" in ISG Provider Lens study 'Healthcare Digital Services 2022'

About Birlasoft

Challenge The Norm

Birlasoft combines the power of domain, enterprise and digital technologies to reimagine business processes for customers and their ecosystem. Its consultative and design thinking approach makes societies more productive by helping customers run businesses. As part of the multibillion dollar diversified The CK Birla Group, Birlasoft, with its 12,500+ professionals, is committed to continuing its 161-year heritage of building sustainable communities. For further information, visit www.birlasoft.com.

Godrej Properties Limited (GPL) Announced Its Financial Results For The Q3 Ended December 31, 2022

Update for Q3 FY23 Results

·         GPL’s highest ever quarterly sales – Q3 booking value grew by 111% YoY to INR 3,252 crore and 9M FY23 bookings grew by 77% YoY to INR 8,181 crore

·         GPL’s best ever quarter for business development – 9 new projects with an estimated future booking value of 23,050 crore added during the quarter

·         Net Profit grew by 51% to INR 59 crore in Q3 FY23

Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2022.

CORPORATE HIGHLIGHTS:

Sales Highlights

·         Q3 FY23 witnessed total booking value of INR 3,252 crore and total booking volume of 4.42 million sq. ft.

·         4 new phase launches during the quarter

Other Highlights

·         27 awards and recognitions received in Q3 FY23

·         Credit Rating for Commercial Paper (CP) limits enhanced to INR 1,750 crore from INR 1,500 crore by ICRA and CRISIL. Ratings have been reaffirmed/assigned at [ICRA]A1+ and CRISIL A1+ respectively

Commenting on the  performance of Q3 FY2023, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

“Residential real estate demand in India has remained strong and we believe the cyclical upturn in the sector will gain further momentum in the years ahead providing significant opportunities for leading developers to participate in sectoral growth while also gaining market    share.

The two highlights in the third quarter were that GPL registered its best ever quarter for both sales bookings and business development. This leaves us well positioned to surpass our FY 23 bookings guidance of 10,000 crore and to sharply grow on this base in the years ahead.”

Financial Overview (Consolidated)

Q3 FY2023 performance overview compared with Q3 FY2022

·         Total Income stood at INR 366 crore as compared to INR 399 crore

·         EBITDA stood at INR 153 crore as compared to INR 115 crore

·         Net Profit stood at INR 59 crore as compared to INR 39 crore

·         EPS# amounted to INR 2.11 as compared to INR 1.40

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.

Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 300 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.

Hyundai Model Year 2023 SUV Range Now Comes With Reinforced Advanced Safety, Convenience Features & Eco-Friendly Engines

Highlights

Hyundai’s Model Year 2023 updates have further fortified segment leader CRETA with advanced standard safety features such as - 6 Airbags (Driver, Passenger, Side & Curtain), ESC, VSM, HAC, Rear Disc Brakes, Seatbelt Height Adjustment and ISOFIX

With Model Year 2023, ALCAZAR has now been equipped with 6-Airbags (Driver, Passenger, Side & Curtain) as standard

The Model Year 2023 VENUE will now be offered with the more powerful 1.5 l U2 CRDi diesel engine that now comes with VGT Technology and delivers a robust power of 85 kW (116 PS) and torque of 250 Nm (25.5 kgm).

VENUE is now equipped with 4-Airbags (Driver, Passenger & Side) as standard safety fitment on its major volume variants – S (O), SX & SX (O)

HMIL’s Model Year 2023 SUV range now features -

Idle Stop & Go (ISG) feature for enhanced convenience

RDE compliant eco-friendly engines that are also E20 fuel ready

Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and largest exporter since inception, today announced its Model Year 2023 (MY’23) SUV Range – VENUE, CRETA and ALCAZAR. The MY’23 updates for these models will feature enhancement of safety fitment, convenience functions and powertrain efficiency as well as performance.

Commenting on MY’23 SUV Range launch, Mr. Tarun Garg, Chief Operating Officer, Hyundai Motor India said, “As a customer centric organization, we have always strived to deliver exemplary mobility experiences for our customers. With the introduction of our MY’23 updates on Hyundai’s leading SUV range, we have ensured an even more wholesome package that encompasses safety, convenience and performance. Additionally, we are moving hand in hand with the Government’s direction and have ensured our powertrains are RDE compliant and E20 fuel ready. Thus with these new significant updates, Hyundai’s MY’23 SUVs - VENUE, CRETA & ALCAZAR will offer higher value proposition for our esteemed customers.”

SAFETY UPGRADES

As a part of the MY’23 launch, models such as CRETA and ALCAZAR have been equipped with a host of comprehensive Active and Passive safety features as standard. To ensure customers experience a robust blanket of protection for a confident driving experience, Hyundai has fortified CRETA with the following Key Standard safety equipment:

6 Airbags (Driver, Passenger, Side & Curtain)

Electronic Stability Control (ESC)

Vehicle Stability Management (VSM)

Hill-Start Assist Control (HAC)

Rear Disc Brakes

Seatbelt Height Adjustment

ISOFIX

Further, VENUE is now equipped with 4-Airbags (Driver, Passenger & Side) as standard safety fitment on its major volume variants – S (O), SX & SX (O). With the overall enhancement of its safety package offering on CRETA, VENUE and ALCAZAR, Hyundai is elevating customer experience with superior protection and drive control.

ENHANCED CONVENIENCE

In addition to safety package enhancement, HMIL’s MY’23 SUV range has also been equipped with Idle Stop & Go (ISG) feature. The smart ISG system enhances convenience offered to customers, while also boosting fuel efficiency of Hyundai SUV model range - during stop & go driving conditions. Further, CRETA has now been equipped with 60:40 Split Rear Seat as a standard feature as part of the new updates.

THRILLING PERFORMANCE

For an exhilarating driving experience, Hyundai VENUE will now be offered with the New & powerful 1.5 l U2 CRDi diesel engine with VGT Technology that delivers a robust power of 85 kW (116 PS) and torque of 250 Nm (25.5 kgm).

Furthermore, the MY’23 SUV range of HMIL will now come with even more eco-friendly engines that are E20 fuel ready and RDE Compliant.

About HMIL

Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). HMIL is India’s first smart mobility solutions provider and the number one car exporter since its inception in India. It currently has 12 car models across segments GRAND i10 NIOS, All New i20, i20 N Line, AURA, VENUE, VENUE N Line, Spirited New VERNA, All New CRETA, ALCAZAR, New TUCSON, KONA Electric and All Electric SUV IONIQ 5. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.

HMIL forms a critical part of HMC’s global export hub. It currently exports to around 85 countries across Africa, the Middle East, Latin America, Australia, and Asia Pacific. To support its growth and expansion plans, HMIL currently has 583 dealers and more than 1492 service points across India. In its commitment to providing customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D centre’s endeavour is to be a centre of excellence in automobile engineering.

Pearson’s English Language Proficiency Test Receives Approval For Canadian Economic Immigration

Pearson, the world’s leading learning company, has been designated by Immigration, Refugees and Citizenship Canada (IRCC) to launch its newest language test, PTE Essential, for proof of English language proficiency.

PTE Essential is a new version of the Pearson Test of English that is very similar to PTE Academic. The key difference is it has a more vocational, real-life and non-academic focus that meets IRCC’s language proficiency requirements. It is anticipated that applicants seeking to use PTE Essential to provide proof of English language proficiency, for the purpose of Canadian permanent residency or citizenship, will be able to do so as of late 2023.

The UK, Australian and New Zealand governments already accept PTE Academic for all visa applications. PTE Academic is also accepted by 100 per cent of Australian, New Zealand and Irish Universities, 99 per cent of UK universities, and more than 90 per cent of universities in Canada.

Andy Bird, CEO, Pearson, said: “At Pearson, we see every day how English skills can transform lives. We’ve already seen how PTE Academic can help people take a huge stride towards being themselves in English in whichever country they choose to work or study. I’m delighted PTE Essential is now accepted in Canada for economic visas and proud of the innovation and rigor that sits behind the quick and high-quality experience our test provides to test takers.”

IRCC recently announced it plans to welcome a record number of permanent residents in the years ahead, approximately 1.45 million in total in the next three years. With high demand in Canada for professionals in areas such as nursing, engineering and web development, the approval of PTE Essential arrives at a good time for test takers and opens new opportunities for Pearson.

The fully digital test is delivered through Pearson VUE, the computer-based testing business of Pearson. The latest AI technology is used for scoring; biometric data collection provides enhanced security measures and voice recognition software is applied for the speaking element of the test. These cutting-edge technologies ensure the provision of an impartial and highly accurate test of people’s English language proficiency.

Furthermore, test takers can book online up to 24 hours in advance, take advantage of year-round worldwide test centre slots and receive their results on average within 1.3 days.

PTE Essential will be rolled out across Pearson’s existing network, with more than 400 PTE centres in 118 countries.

About Pearson:

At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c.20,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in c.200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at pearsonplc.com

About PTE:

PTE Academic and PTE Academic Online provide secure English language testing for study applications worldwide, including Canada.

PTE Academic is accepted for applications for work and migration in Australia, New Zealand and the UK. PTE Academic Online is not accepted for work and migration purposes.

PTE Essential is accepted for applications for work and migration in Canada.

Tourism Malaysia Ccllaborates With Jagadish Tours To Initiate Mural Display Campaign Featuring Miss Shophia Go Travel At Bengaluru

Tourism Malaysia through Chennai Office is stepping up another initiative to feature mural display campaign in conjunction with the Tourism Malaysia roadshow to India from 30 January to 7 February 2023.

The campaign that features Miss Shophia Go Travel initiated in collaboration with Jagadish Tours which aims to promote Malaysia Packages through mural display advertisements. The main objective is to create awareness of Malaysia and arouse an interest of the public to ensure Malaysia remains stand out on top of the minds among Indians

Mr.Rakesh P – Director Jagdish Tours said "The three (3) Murals in the size of 20 width x 40 height are located along Sankey Road and Brigade Road in the city of Bengaluru for the period of three months beginning February 2023. This will attract the public as well as corporate offices, leisure travelers and shoppers around the area. To intensify collaboration with Jagadish Tours, they also organized Malaysia Food Festival at TAKI-TAKI Restaurant from 2 to 15 February 2023."

Mohd Amirul Rizal Abdul Rahim Senior Deputy Director, International Promotion Divison, Tourism Malaysia said, "Tourism Malaysia’s promotion campaign as such is a continuous effort to boost inbound tourism to a greater heights in the hope to achieve 15.6 million international tourist arrivals with MYR 47.6 billion in tourism receipts for 2023.

India remains an important market for Malaysia. In terms of connectivity, there are currently 169 flights per week with more than 29,000 seats from India to Malaysia via Malaysia Airlines, Batik Air (formerly known as Malindo Air), AirAsia, and IndiGo."  He added.

At present, Malaysia has recently launched a new eVISA Multiple Entry Visa (MEV) facilities consists of fly & cruise, wedding, medical treatment and business visitors purposes for Indian tourists that comes with a six-month validity, a 30-day length of stay (LOS) and costs only INR 1,000.00. The visa can be applied online through https://malaysiavisa.imi.gov.my/evisa/evisa.jsp.

Kotak Mahindra Bank Participates In RBI’s Pilot Launch Of Digital Rupee

Kotak Mahindra Bank Limited (“KMBL”/“Kotak”) today announced that it has implemented the first phase of the Reserve Bank of India (RBI)’s Digital Rupee (e?). KMBL is among the eight banks shortlisted by RBI to implement a pilot project for issuance of Digital Rupee, a legal tender that is similar to bank notes and coins, issued in a digital form by RBI. KMBL today rolled out the Central Bank Digital Currency (CBDC) to a Closed User Group (CUG) of customers, which includes retail consumers and businesses.

Deepak Sharma, President & Chief Digital Officer, Kotak Mahindra Bank said, “We are delighted to be a part of RBI’s initial pilot of Digital Rupee. CBDC aligns with the RBI’s vision of developing a digitally powered economy, promoting digital transactions, and reducing dependency on cash. At Kotak, it has been our constant endeavour to offer a wider choice of financial products and world class banking experience to our customers by leveraging our technology infrastructure. Digital Rupee will give a huge fillip to the Government of India’s vision of Digital India and CBDC will act as a change agent for the finance ecosystem in the country.”

KMBL will launch the Digital Rupee pilot in Mumbai, Delhi and Ahmedabad. Limited KMBL customers will be sent an email/SMS invite to download the Digital Rupee app. The digital rupee wallet operates in a similar fashion as a physical wallet but in a digital form, and will be accessible for download on Android operating system smartphones.

Step by step procedure to be on-boarded on e app:

Customer opens e app.

He/she is shown the terms and conditions. Once he/she accepts it, an introduction screen is visible.

After he/she will click on 'Next', the SIM binding process begins.

User will be asked to set up an app PIN, enter name and select recoverable wallet type.

He/she is asked to set up a digital wallet pin and then a wallet address is created.

Customer will be asked to link a bank account to the wallet.

Click here to watch video release:- https://youtu.be/Q-aY-ZyGAk8

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking licence from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31st December, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,752 branches and 2,814 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, visit the company’s website at https://www.kotak.com/.

Kotak811 Launches Its Campaign #SamayKoSahiKaamPeLagao

* Campaign highlights Kotak811 as the digital bank that lets you do more with your time

* Campaign features popular stand-up comedians Tanmay Bhat and Samay Raina

Kotak Mahindra Bank Limited’s (“KMBL”/ “Kotak”) Kotak811, a semi-autonomous digital bank, announced the launch of its campaign that highlights Kotak811 as the digital bank that lets you do more with your time. The campaign #SamayKoSahiKaamPeLagao features new-age stand-up comedians, Tanmay Bhat and Samay Raina.

Launched in 2017 as an acquisition engine, Kotak811 has evolved to become a semi-autonomous digital bank that offers a range of solutions at the fingertips of customers. The campaign reinforces Kotak811 as the digital bank that lets customers do more with their time, thanks to its easy and convenient banking solutions.

Conceptualized and created by Schbang, this digital campaign comprises a set of 3 ad films, which will be seen across digital channels and OTT platforms. The campaign kicks off with an ad film that is a humorous take on doing more with time, as it shows time being put to better use by literally putting the protagonist Samay (Raina) to better use.

“The campaign #SamayKoSahiKaamPeLagao aims to encourage consumers to do more with their time by banking with Kotak811,” said Ms Shanti Ekambaram, Whole Time Director, Kotak Mahindra Bank Ltd. “Kotak811 is making banking so easy and convenient with its digital banking solutions, that it leaves one with more time to do things they like. Kotak811 is positioned as a preferred mode of banking for those who feel traditional banking can take up a lot of their time.”

Akshay Gurnani, Co-Founder and CEO of Schbang, said, “Kotak811 wanted to highlight the convenience of digital banking. Understanding our audience, we knew collaborating with the popular duo - Tanmay Bhatt & Samay Raina would amplify our messaging and draw the right eyeballs. The campaign is overall aimed at showing how the 'Samay' you save by digitally banking with Kotak811 can be spent doing things that actually matter to you.”

Click on the picture to watch the first ad film: https://www.youtube.com/watch?v=SIes96A2M8g

About Kotak 811

When 8th November 2016 changed the way India transacted forever, Kotak811 was launched to simplify banking and make it fully accessible online. As one of India’s first full service, truly digital bank, it offers customers a simple and convenient way to open a savings account and transact digitally using 180+ features on its Kotak811 Mobile Banking app, from home or on the move.

On 29th March 2022, Kotak811 presented itself as a bank within a bank, adopting a fresh and new brand identity with ‘digital at its core. As a brand ethos, Kotak811 continuously inquires into India’s banking challenges, innovates to bridge these gaps, and inspires Indians to adopt a way of banking that lets them take full control.

Kotak811 has customers from 1,000+ Cities & Towns covering over 10,000 pin codes, across the country. Every 5 seconds, a new Account is opened digitally. Interestingly, more than 50% of 811 Accounts are opened outside banking hours. Kotak 811 offers instant account opening in 3 mins and KYC via video call in 5 mins.

For more information, visit the digital bank’s website at https://www.kotak811.com/zero-balance-savings-account-online/

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking licence from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31st December, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,752 branches and 2,814 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, visit the company’s website at https://www.kotak.com/.

Honda Cars India Registers 7,821 Units Of Domestic Sales In Jan 2023

Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, registered monthly domestic sales of 7,821 units in January 2023. The export numbers for HCIL stood at 1,434 units in Jan’23.  

Sharing thoughts on the Jan’23 sales performance, Mr. Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “Jan’23 volumes were in line with our expectations, as we are focusing on seamless transition of our line-up to the upcoming new emission norms under RDE regime. We are optimistic about our performance in 2023, fuelled by strong customer demand in the automotive sector.” 

The company had registered 10,427 units in domestic sales and exported 1,722 units in January’ 22.   

Singapore Airlines (SIA) Has Rolled Out “Complimentary Unlimited In-Flight Wi-Fi For All Business Class Customers

* All KrisFlyer members in Premium Economy Class and Economy Class now enjoy free three-hour and two-hour Wi-Fi surf plans respectively 

* All-new attractive price-based Wi-Fi plans rolled out for all customers 

Singapore Airlines (SIA) has rolled out “complimentary unlimited in-flight Wi-Fi for all Business Class customers”, as well as its PPS Club members and PPS Club supplementary card holders. In addition, KrisFlyer members now enjoy free three-hour Wi-Fi plans when travelling in Premium Economy Class and free two-hour Wi-Fi plans when travelling in Economy Class. 

Customers who are not KrisFlyer members, and members who may have consumed their complimentary plans, may take advantage of SIA’s new attractive and simplified Wi-Fi price plans. These range from US$3.99 (approximately S$5.25) for one hour, US$8.99 (approximately S$11.80) for three hours, and US$15.99 (approximately S$21.00) for the entire flight[1].   

These enhancements further elevate the in-flight customer experience on board SIA flights, with the Airline’s Suites and First Class customers also enjoying complimentary unlimited Wi-Fi.  

As a result, SIA becomes one of the first airlines to offer complimentary unlimited Wi-Fi across its passenger network[2] for its Suites, First Class, and Business Class customers, as well as PPS Club members.  

Previously, Business Class customers and PPS Club members enjoyed 100MB worth of complimentary in-flight Wi-Fi. KrisFlyer members travelling in Premium Economy Class and Economy Class were offered a two-hour complimentary in-flight Wi-Fi plan that was optimised for text-only messaging services.  

Mr Yeoh Phee Teik, Senior Vice President Customer Experience, Singapore Airlines, said: “Staying connected, even at 35,000 feet in the air, has become an essential aspect of the travel experience. With our enhanced Wi-Fi offerings, SIA’s customers can stay in touch with their loved ones, post photos and videos on their social media channels, or keep updated on the latest news. These changes are in response to customer feedback, and part of SIA’s continuous investment to elevate the travel experience and maintain our leadership position.” 

Business Leaders Across Industry Verticals React On The Budget 2023

* Mr. Mahendra Shah, Chairman, and Group Managing Director, V-Trans (India) Ltd. 

“The significant progress with many sustainable development goals has increased the Indian economy size from 10th biggest to 5th biggest in last 9 years. The Government has taken several encouraging steps to boost the infrastructure and transportation industry. Logistics, infrastructure, and transportation is the future of our country. This year’s budget has shown the government’s commitment to the logistics and infrastructure sector. This highlights India’s futuristic growth and commitment to elements like the Data Governance Policy, Centres of Excellence on AI, Green Growth, and the conventional thrust areas of infrastructure have also received a big boost. Though the Union Budget 2023 did not provide much specific attention to the logistics and transportation sector. However, the government did announce various initiatives aimed at improving the overall infrastructure of the country, which could have a positive impact on the logistics industry. These initiatives include the allocation of ?1.97 trillion for infrastructure development, plans to build new airports and modernize existing ones, and investments in the development of the National Highways network. Additionally, the government's focus on increasing the use of technology in various sectors, including transportation, could also benefit the logistics industry. However, the industry has called for specific measures, such as tax incentives and investment in technology, to boost its growth and competitiveness.” 

*  Mahesh Viswanathan, CFO - Finolex Cables Ltd 

“The Union Budget 2023-24 is forward-looking and positive. It reflects continuity in capital expenditure, which will mean increased growth potential and job creation. The government’s focus on the completion of the rollout of 5G services will increase application possibilities in several fields and this will create a high impact on the demand for communication cables and provide opportunities for companies operating in this sector. Additionally, the government's focus on the electronics manufacturing sector, through incentives and tax benefits, is expected to boost the production of electronic devices, further increasing demand for communication cables. The budget also focuses on enhancing the ease of doing business where more than 39,000 compliances have been reduced. This is a welcome move for all the operating businesses. The revision of income tax slabs will leave more disposable incomes in hand which will boost the consumer durables sector. Overall, the Union Budget 2023 presents opportunities for the communication cables industry, but the ultimate impact will depend on various factors, such as the implementation of the budget's proposals and market conditions.” 

*  Mr. Ramesh Doraiswami, Managing Director & CEO, National Bulk Handling Corporation (NBHC) 

" The Union Budget 2023-24 proposes a continued focus on the key areas of improving farmgate infrastructure and promoting the use of technology to improve farm incomes. The creation of Digital Public Infrastructure for Agriculture is commendable as it will be an open source of information services for crop planning and health, improved access to farm inputs, credit, and insurance & market intelligence, which today are not available readily to farmers thereby limiting their income. The announcement of the Agriculture Accelerator Fund to promote rural entrepreneurship focussed on agriculture is another welcome step.  It will be interesting to see the details of this fund since it could also stimulate rural employment. In the “International Year of the Millet”, the announcement to make IIMR Hyderabad a global centre of excellence of millets is a big step forward as well.  Overall, the budget presents a positive outlook for the agriculture sector and is likely to have a positive impact on the growth of agri-tech companies.” 

* Paavan Nanda, Co-Founder, WinZO games 

"It’s heartening to witness TDS for Online Gaming finding significant mention in this year’s Union budget presented by the Hon’ble Minister. The proposed changes lend clarity to the Gaming companies, while creating an airtight accounting system for the exchequer. Aligning it with a player’s Net Winnings in a Financial Year seems like a just provision for the 500MM online gamers in India. Recognising and carving out a separate clause in the act for ‘Online Gaming’ as against gambling or betting is in line with Meity’s recent draft amendment to IT rules for Online Gaming, and is a testimony to the government's genuine intent to nurture the burgeoning sector. The single most important aspect that the sector awaits clarity on and something that would decide its fate is the outcome from GoM on the GST. We are hopeful that the outcome would retain the current 18% tax slab on gross gaming commissions, and promise to overachieve the $10Trillion economy goal by our Hon’ble Prime Minister well before 2030". 

* Mr. Nirav Dalal, Executive Vice President- Business Development and Chief Investment Officer, Shapoorji Pallonji Real Estate 

"We welcome the measures announced by Finance Minister Smt. Nirmala Sitharaman in the Union Budget 2023–24, which indirectly aims to boost the real estate sector's growth while also providing relief to consumers. The proposed increase in the income tax exemption limit to Rs 7 lakh will help boost real estate investment. This tax break will encourage homebuyers to invest more while simultaneously increasing revenue. Meeting the long-standing demand of the real estate sector, the cap deduction for capital gains on residential housing investment is set at INR 10 crore, which will undoubtedly benefit the real estate industry. As one of the important measures to support the market, there has been a 66% increase in the allocation to 79,000 crores in the Affordable Housing Fund (PMAY). The budget also has an emphasis on developing smart cities. The budget has allocated the Urban Infrastructure Development Fund (UIDF), which will be managed by the National Housing Bank and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities. The infrastructural development in these untapped markets will help the development of real estate here." 

* Mr. LVLN Murty, CEO, Dvara KGFS 

“I congratulate the government for presenting an inclusive budget and underlining the fact that MSMEs are the growth engines of our economy. We welcome the move to enhance turnover limits to Rs 3 crores and Rs 75 lakh respectively for micro enterprises and certain category of MSME professionals to be eligible for presumptive taxation.  The Finance Minister’s announcement about a revamped credit guarantee for MSMEs effective from April 1st, 2023, through infusion of Rs 9000 Crore in the corpus is sure to help the ecosystem and open up more credit lines for MSMEs. This will also help NBFCs to bring cost-effective credit underwritings, especially for small borrowers and help to conclude end-to-end digital processing efficiently with standard checks and balances with shorter turnaround time. Focus on sector specific skilling and entrepreneurship development will help rural women gain financial independence. Rural women will stand benefitted if more awareness is created about the opportunities available and about the schemes of the government to support them. Simplification of KYC and making PAN the single identifier for all financial transactions will also help NBFCs like ours to push for financial inclusion across our rural markets.”   

* Mr. Sudhir Pai, CEO Magicbricks. 

“The Union Budget 2023 is a bonanza for affordable housing, with the strategic decision to increase outlay for Pradhan Mantri Awas Yojana (PMAY) by 66%! This decision provides the much-needed impetus towards the vision of "Housing for all". Further, with a 33% increment in infrastructure outlay, the Government is facilitating economic growth through job creation and investments which have direct and indirect impact on the real-estate sector. It is also heartening to see that the government is maintaining its focus on furthering urbanization initiatives, especially with the outlay of INR 10,000 crores per annum for an Urban Infrastructure Development Fund (UIDF) for tier 2 and tier 3 cities. This would certainly give the required boost to the real-estate markets in these cities, which have emerged as real estate growth engines in the past few years. 2022 saw a year-on-year increase in residential demand in cities like Bhubaneswar (12%), Coimbatore (27%), Jaipur (5%), and Nagpur (66%), amongst others, and this initiative will further elevate the livability index and appeal of these cities. Overall, the Union Budget is definitely positive and growth oriented for the real-estate sector”. 

* Mr. Vighnesh Shahane, MD & CEO, Ageas Federal Life Insurance 

In today’s Union Budget, the government has announced that from April 1st onwards, income from life insurance policies (other than ULIPs), with an aggregate premium amount of Rs. 5 lakh p.a. or more, which was earlier tax-free will now be taxable. However, in case of the unfortunate death of the insured person, the death benefit will continue to remain tax-free. 

This move is similar to the proposal introduced by the government a couple of years ago which imposed tax on the maturity amount of ULIPs if the aggregate premium exceeded Rs. 2.5 lakh p.a.  

This proposal is likely to dent the sales of non-par products which has been witnessing strong growth over the last few years, especially during the pandemic. As the cap of Rs. 5 lakhs is applicable for all life insurance policies across insurers, it may deter individuals from purchasing additional policies if they have exhausted their limit with their primary insurer. 

*  Mr. R Jeswant, Funskool India Ltd. 

“The increase in basic Duty on Toys and parts of Toys (other than parts of electronic toys) to 70% is a boost to Domestic Manufacturers and will help in India developing into a manufacturing hub for toys, as envisaged by our Prime Minister”, said Mr. R Jeswant, CEO of Funskool India Ltd. 

* Budget reactions from Ms. Richa Singh, Co-Founder & CEO, YourDOST 

As a healthcare industry stakeholder, I have mixed feelings about the Union Budget. Although several initiatives in the budget are laudable and oriented towards the vision of accelerating holistic growth, it does not hold a similar promise to the wellbeing industry. 

While the establishment of nursing colleges sits on major potential for skilling the next generation of medical professionals, a similar commitment to the wellbeing industry has been overlooked. The previous budget justly recognized the growing significance of mental health today. Building on that momentum, additional incentives in the sphere would have accelerated the due importance that mental health and wellbeing deserves today. 

* Venkatram Mamillapalle, Country CEO & Managing Director, Renault India 

“Union Budget brings cheers to the automobile industry as it will positively give push to sales 

The budget has laid special emphasis on the Vehicle Scrappage Policy which will not only boost the sales but will also enable in achieving clean and green environment for overall sustainable development. Additional, funds infusion in the scrappage policy is a remarkable step and is in the right direction to achieve India’s goal of being carbon neutral by 2070. This policy would eventually help the entire eco-system of automotive industry as this will translate into growing orderbooks of OEMs, increased output and job creation. 

Another significant announcement made by the government on the customs duty exemption being extended to capital goods and machinery required for the manufacturing of lithium-ion batteries used in EVs. This step is a boost for companies that are / would be manufacturing electric vehicles locally as it will help reduce the cost of EVs. 

The automobile industry will witness an increase in sales with the introduction of new tax rebate limit on personal income which has been raised from INR 5 lacs per annum to INR 7lacs per annum. This step is likely to help the sector as more disposable income with salaried customers may give supplementary push to demand for personal vehicles.”