Over 120 Online Skill Gaming Companies Seek Distinction From Fantasy Sports In GST

Over 120 online Casual Skill Gaming Companies wrote to the Honorable Ministry of Finance, and all GST Council Members seeking distinction on tax treatment from Fantasy Sports citing fundamental differences in business models and how they generate revenues. The industry highlights that Fantasy Sports, with guaranteed prize pools, are taxed differently from Online Skill Gaming Globally. Moreover, the consumption patterns of Online Skill Gaming differ markedly from Fantasy Sports and Lotteries.  

The Casual Gaming category, even when played with money, is starkly different from Fantasy Sports or Large Tournament (Lotteries) payouts. Quick Casual Games have a very different business model, consumption pattern, social relevance, as well as unit economics when compared with Large Payout Tournaments (such as Fantasy). Even several marquee research experts, such as KPMG, Redseer, etc., classify Fantasy Sports as a separate category within the real money gaming industry. In Online Skill Gaming, players engage in live matches based on their skills in the games such as First Person Shooter Games, Card Games Carrom, 8 Ball Pool, Chess, etc., playing against each other in quick succession. However, in Fantasy Sports, it differs with a large guaranteed prize pool that users participate in by way of teams. 

The gaming companies with a combined user base of over 400 million users, urged to not be clubbed with games of chance in their submission. They also highlight in this representation that GST on Deposits would result in closure of all continuous game formats that have very weak price elasticity as up to 75% of the deposit money is withdrawn back by the user in a way of winnings. The gaming companies also confirmed submitting this information to the Ministry of Finance for their consideration.  

The representation that was made by companies that represent Esports, Card Games, Casual Games claimed that in the case of Fantasy Sports, players don't play live against each other, but rather in a Tournament Model where even if platforms are asked to pay GST @ 28% on Full Face Value, the fundamental proposition will not change. (Small Entry Fee and Large Life-changing Winnings). 

Users of online skill gaming will move to offshore platforms for entertainment as they will not have any winnings left due to high taxation. This will lead to the shutdown of more than 120 online skill gaming companies. However, for Fantasy Sports, the hike in tax does not affect the winnings, and hence users will continue to play and the Fantasy Operators will survive on GST on Deposits. 

Online Gaming companies also cited examples from other major jurisdictions where Online Skill Gaming is protected and taxed differently from Fantasy Sports.

The proposed 28% GST rate on the Full value or deposit poses a severe threat to the online skill gaming industry's survival, particularly to startups currently in the research and IP generation phase. Many of these companies are incurring losses, and the new GST structure could lead to their immediate collapse. 

The GST Council is requested to look into the distinction in the business model of the thriving Casual Gaming segment even if played for a small entry fee, which has the largest user base in the country and pays 50% of the Rs. 2,000 annual GST paid by the Online Gaming sector.  

The decision to charge 28% GST on Full value or deposit is threatening legitimate activity of online games of skill played with a monetization model of entry fee and playing for winnings. To mitigate the potential repercussions and preserve the thriving Online Skill Gaming industry, industry representatives are seeking urgent discussions with the GST Council to advocate for a more sustainable tax structure that acknowledges the unique characteristics and potential of the sector. 

Bank of India Q1FY24 Results Reports An Increase Of Net Profit By 176% YoY To Rs.1,551 Cr.

The Board of Directors of Bank Of India approved the audited financial results for the quarter ended 30th June 2023.

Appended below are the Results Summary for Q1 – FY2024

Key highlights:

Net Profit increased by 176% YoY to Rs.1,551 Cr.

Operating Profit increased by 72% YoY to Rs.3,752 Cr.

Net Interest Income increased by 45% YoY to Rs.5,915 Cr.   

NIM (Global) improved by 49 bps YoY.

Yield on Advances (Dom.) improved by 157 bps YoY.   

Gross NPA ratio down by 263 bps YoY.

Net NPA ratio down by 56 bps YoY.

Provision Coverage Ratio (PCR) improved by 156 bps YoY.   

CRAR stood at 15.60%, with CET-1 ratio at 13.02%.

Global Business crossed 12 lakh crore mark, increased by 8.61%.   

Global Deposits increased by 8.71% YoY.

Gross Advances increased by 8.48% YoY.

RAM Advances grew by 11.75% YoY and it constitutes 55.39% of Advances.   

Retail Credit grew by 15.05% YoY.

Agriculture Credit grew by 10.10% YoY.    MSME Credit grew by 9.19% YoY.

CASA deposits increased by 7.56% YoY and CASA ratio at 44.52%.

Profitability Q1FY24:

Net Profit increased by176% YoY to Rs.1,551 Cr in Q1FY24 against Rs.561 Cr in Q1FY23.

Operating Profit increased by 72% YoY to Rs.3,752 Cr for Q1FY24 against Rs.2,183 Cr for Q1FY23.

Net Interest Income (NII) increased by 45% YoY to Rs.5,915 Cr for Q1FY24 against Rs.4,072 Cr in Q1FY23.

Non-Interest Income increased by 27% YoY to Rs.1,462 Cr in Q1FY24 against Rs.1,152 Cr for Q1FY23.

Ratios:

NIM (Global) improved by 49 bps to 3.03% in Q1FY24 against  2.54%  in Q1FY23. NIM (Domestic) improved by 51 bps to 3.37% in Q1FY24  against 2.87% in Q1FY23.

Return  on  Assets  (RoA)  improved  by  42  bps  to  0.71%  in  Q1FY24  against 0.29% in Q1FY23.

Return on Equity (RoE) improved by 806 bps to 14.90% in Q1FY24 against 6.84% in Q1FY’23.

Cost to Income ratio (Global) improved by 908 bps to 49.14% in Q1FY24 against 58.22% in Q1FY23.

Slippage ratio improved to 0.53% in Q1FY24 against 0.69% in Q1FY23.

Credit Cost stood improved to 0.64% in Q1FY24 against 1.21% in Q1FY23.

Yield on Advances (Global) improved by 157 bps to 8.10% in Q1FY24 against 6.53% in Q1FY23.

Cost of Deposits (Global) stood at 4.22% in Q1FY24 against 3.49% in Q1FY23.

Productivity Ratios:

Business per employee improved to Rs.23.21 Cr in Jun’23 from Rs.21.26 Cr in Jun’22.

Business per branch improved to Rs.237.04 Cr in Jun’23 from Rs.218.24 Cr in Jun’22

Net Profit per employee improved to Rs.11.85 lakh in Jun’23 from Rs.4.27 lakh in Jun’22.

Net Profit per branch improved to Rs.121.06 lakh in Jun’23 from Rs.43.82 lakh in Jun’22.

Global and Domestic Business Growth:

Global Business crossed 12 lakh crore and reached Rs.12,14,808 Cr with a growth of 8.61% YoY in Jun’23.

Global Advances grew by 8.48% YoY and reached Rs. 5,18,264 Cr in Jun’23.

Global Deposits increased by 8.71% YoY to Rs. 6,96,544 Cr in Jun’23.

Domestic Deposits increased by 7.98% YoY to Rs. 5,89,517 Cr in Jun’23.

Domestic CASA went up by 7.56% YoY to Rs. 2,60,615 Cr in Jun’23 and CASA ratio stood at 44.52%.

Savings deposits increased by 6.21% YoY to Rs.2,25,020 Cr in Jun’23.

Current deposits increased by 16.94% YoY to Rs.35,596 Cr in Jun’23.

Domestic Advances increased by 7.98% YOY to Rs. 4,33,246 Cr in Jun’23.

RAM advances increased by 11.75% YOY to Rs.2,39,954 Cr, constituting 55.39% of Advances in Jun’23.

Retail Credit grew by 15.05% YOY to Rs.95,963 Cr in Jun’23.

Agriculture Credit grew by 10.10% YOY to Rs.72,801 Cr in Jun’23.

MSME Credit grew by 9.19% YOY to Rs.71,190 Cr in Jun’23.

Overseas Deposits increased by 12.91% YOY to Rs. 1,07,027 Cr and Overseas Advances increased by 11.08% YOY to Rs. 85,018 Cr in Jun’23.

Capital Adequacy:

As on 30.06.2023, Bank's total Capital Adequacy Ratio (CRAR) was at 15.60% against 16.28% in Mar’23.

CET-1 ratio stood at 13.02% as on Jun’23 against 13.60% in Mar’23.

Priority Sector, Financial Inclusion & Digital Banking:

Priority Sector Advances increased by 8.89% YOY and achieved 43.14% of ANBC as on Jun’23. Agricultural advances achieved 18.98% of ANBC.

Advances to Small & Marginal Farmers achieved 12.09% of ANBC in Jun’23 against regulatory norm of 9%.

Advances to Weaker Sections achieved 15.05% of ANBC in Jun’23 against regulatory norm of 11%

PMJDY accounts increased to 285 lakhs as on Jun’23 from 271 lakhs in Jun’22. (No. in Lacs)

Internet Banking users: Increased to 8.55 million in Jun’23 from 8.08 million in Jun’22.

Mobile Banking users: Increased to 8.46 million in Jun’23 from 6.11 million in Jun’22.

Number of UPI transactions increased by 1.45 times to 8,625 lakh in Q1 FY24 from 5,911 lakh in Q1FY23.

Digital Products:

Bank has since created end to end Digital products, viz. SB accounts on the deposit side and Mudra/KCC/Personal loan/pensioner loan on the loan segment.

Customers can open SB accounts and avail loans without visiting branch.

There are more than 20 products that will be rolled out in Q2 & Q3 of this year.

We are targeting at least Rs.10,000 Cr of business through Digital products by the end of this financial year.

Branch Network:

As on 30th June’23, the Bank has 5129 number of Domestic branches.

Rural: 1852 (36%), Semi-Urban: 1456 (28%), Urban: 829 (16%), Metro: 992 (19%).

Awards & Accolades:

PT Bank of India Indonesia, the Subsidiary of our Bank has been ranked as no. 1 bank in Indonesia in the category of “Best Conventional Bank under KBMI I Category’ as declared by CNBC Indonesia.

Our Bank was awarded of Digidhan Awards 2021-22 by the Union Ministry of Electronics and Information Technology for achieving top position in overall performance in Digital Payments

Bank has received Infosys “Finacle Innovation Awards 2023” (Gold Winner) under Category of Product Innovation for Product: HMCQR Menu.

Bank has won for “NUMERO UNO” Award in “APY National Championship Cup” campaign from PFRDA for good performance in APY Campaign (01.10.2022 to 14.11.2022).

Bank has won for “Exemplary Award of Par Excellence” Award in “Circle of Excellence” campaign from PFRDA for good performance in APY Campaign (01.10.2022 to 14.11.2022).

Bank has been nominated for “Annual APY Exemplary Award of Excellence” for achieving 162% of Annual APY target (FY 2022-23) from PFRDA.

Bank has won “NUMERO UNO” Award in ‘Old Age  Financial  Freedom” Campaign for best performer Bank in PSB (FY 2022-23).

Adani Wilmar’s Iconic Kohinoor Brand Showcases Power of Aroma In Visual Masterpiece With ‘Khushboo Kuchh Khaas’ Campaign

- Directed by renowned ad-filmmaker Prakash Varma, the campaign is conceptualised by DDB Tribal-

Adani Wilmar Limited (AWL), one of India's leading foods FMCG companies, has unveiled the comeback of Kohinoor Basmati Rice, in a 360-degree campaign, that helps viewers visualize the aroma of Basmati. The film – Khushboo Kuchh Khaas - has been conceptualised by DDB Tribal and directed by renowned ad-filmmaker Prakash Varma. It features 48 actors and dance performers from 12 different Indian cities, guided by a choreographer from London, set to an original composition.

Based on fact that in our daily lives we often grow accustomed to mundane meals that are served without much thought. Kohinoor aims to revive the enchantment of dining by awakening a renewed passion for meals. Premium Basmati rice such as Kohinoor has a unique, rich aroma that is universally understood and enjoyed. The film’s powerful cinematography and music takes viewers on a delightful journey of an orchestral symphony evoking a longing for the brand.

"Our campaign for Kohinoor Rice aims to forge a deep emotional connection with consumers by highlighting its captivating aroma and lineage," said Mr. Vineeth Viswambharan, Associate Vice-President of Marketing & Sales at Adani Wilmar. "Setting a new benchmark for creative storytelling, the film is sans dialogues or voiceovers or texts and yet it communicates in a universal language of music & visualization which is instinctively understood across the country, while powerfully communicating brand USPs.” he added.

Prakash Varma, Director, Nirvana Films said, “As a director it’s rare to get an opportunity where you can creatively explore this kind of theme in an Ad film. It was fun to collaborate with Fraz and the agency team along with the clients who gave me the freedom to explore my craft. I was entrusted with a lot of room to play and have fun with the style. The film is operatic, theatrical and dramatic which is quite clutter breaking. Of course it always helps to have a single focused idea, in this case ‘aroma’, to drive home the point effectively. My team of assistants, DOP, production designer, costume designer, food stylist, artists, casting director, choreographer, music director, editor and support team were thrilled to be able to work on this project because the process was quite magical.”

Adani Wilmar’s strategic bid for widespread reach and engagement through Meta and Google platforms includes Facebook, Instagram, YouTube, and the Google Display Network, as the key channels to drive the campaign's communication. By leveraging the immense popularity and influence of these platforms, the brand aims to connect with a diverse range of consumers, delivering captivating content and immersive experiences that showcase the allure of Kohinoor Rice.

Back in 2022, Adani Wilmar acquired the renowned Kohinoor Brand – domestic (India region) from McCormick Switzerland GMBH. Kohinoor as a brand is dedicated to bringing the authentic taste and aroma of traditional Indian biryani to your kitchen and has built a strong reputation as a trusted name in the industry through some of its iconic commercials in the past. With a total of 27 Variants, Kohinoor sources their basmati rice from the finest farms in India, known for producing the longest and most aromatic grains.

About Adani Wilmar Limited

Adani Wilmar Limited (AWL) is one of the largest food FMCG companies in India offering most of the primary kitchen essentials for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. The company’s products are offered under a diverse range of brands across a broad price spectrum catering to different customer groups. Its flagship brand ‘Fortune’ is one of the largest selling edible oil and food brands in India. It has a wide array of packaged foods including packaged wheat flour, rice, pulses, besan, sugar, soya chunks and cereals-based products such as ready-to-cook khichdi. It also offers a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives and de-oiled cakes and HPC category under brand Alife, which includes soaps, hand washes and hand sanitisers.

Link: https://youtu.be/u5laeswSWa0

Srinivasan Services Trust Invests INR 20 Million In Tiger Conservation Initiatives Across Tamil Nadu And Karnataka

Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Limited, has invested INR 20 million in various conservation initiatives, including water conservation, forest equipment, transportation, and anti-poaching camps across six tiger reserves in Tamil Nadu and Karnataka. SST is dedicated to improving living conditions for staff members of the forest department and to construct anti-poaching camps equipped with solar power and drinking water facilities. SST’s tiger conservation program aligns with their broader mission of developing tribal villages, for which SST has invested over INR 250 million over the past 16 years.

Sharing his views, Mr. Swaran Singh IAS (R), Chairman, Srinivasan Services Trust, “Our commitment to tiger conservation exemplifies our determination that goes beyond just corporate social responsibility. At Srinivasan Services Trust, we embrace the responsibility to lead, inspiring other corporates to take the mantle of environmental stewardship. By each corporation taking a step forward, we collectively amplify the impact of conservation efforts, ensuring a brighter future for our wildlife. It is not just about us; it is about fostering collaboration between governments, non-governmental organizations, and all stakeholders, united under a common cause towards a sustainable and thriving world.”

In 2022, SST donated a minibus to the Sathyamangalam Tiger Reserve. Additionally, SST contributed to the Bandipur Tiger Reserve by donating two forest-road-friendly motorcycles and provided tractors for water transportation in Mudumalai and Bandhavgarh. To boost conservation efforts, the trust also supplied high luminescent search lights and GPS devices to Mudumalai, Sathyamangalam, and Kalakkad-Mundanthurai tiger reserves.

Apart from this, Srinivasan Services Trust, in collaboration with Nagarahole Tiger Reserve, is executing a pilot project of electronic surveillance to gather information and data on human-animal conflicts and to use the data for better management of the reserve. SST's commitment to wildlife conservation and tribal development showcases how businesses can make a significant impact in preserving our natural heritage and empowering marginalized communities.

About Srinivasan Services Trust (SST): Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Limited started working in villages from mid 1990s. Starting with a model of philanthropy, it matured into a model centred on community participation in all its projects. Today, SST works in ,2500 villages in the country with 2,000 villages in Tamil Nadu. It follows a holistic and participatory approach of village development, working very closely with the community and the government. SST’s focus is to bring about sustainable development in villages through Total Community Involvement. Society building through development of women and children, conservation of water, providing holistic health and education infrastructure by renovating the government infrastructure and preserving the environment are its main focus areas. SST works towards economic development of the community by helping them to set up microenterprises and supporting them to improve agriculture and livestock income. SST nudge communities to embrace practices towards better quality of life by ensuring a participatory approach right from planning to execution of activities. SST’s long-term goal is to create robust communities, through a strong bonding and a sense of ownership among community propelling sustained growth of the villages.

Hero Motocorp Receives An Overwhelming Response For Harley-Davison X440

* ONLINE BOOKINGS TO CLOSE ON 3rd AUGUST 2023

* DELIVERIES TO COMMENCE FROM OCTOBER 2023

Harley-Davidson X440, the first co-developed premium motorcycle of Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters and iconic American motorcycle-maker Harley-Davidson has received highly positive response in customer bookings, since its launch on July 3rd, 2023.

The company will close the online booking window on August 3rd 2023, as the test rides at national scale for the pre-booked customers will begin from September 1st 2023 onwards. Hero MotoCorp will start the production of the Harley-Davidson X440 in September at the company’s Garden Factory at Neemrana, in the northern Indian state of Rajasthan, and commence customer deliveries from October 2023. Deliveries to customers will be made on a prioritised basis as per booking dates.

The ramp up of production capacity is already in progress in response to the demand trends. The resumption date of online bookings and the price for the next window  will be announced later.

Niranjan Gupta, Chief Executive Officer, Hero MotoCorp said, “It is heartening to see  the increasing inflow of enquiries and bookings for Harley-Davidson X440. The  volume so far has surpassed our expectations and we have reached a point where we have decided to close the online booking channel temporarily.

“The  response is reflective of the brand love and trust that riding enthusiasts hold for Harley-Davidson and Hero MotoCorp. As we prepare for production and deliveries of Harley-Davidson X440, we are confident of offering an exceptional riding experience to the customers with best-in-class power, performance, and value proposition.”

The motorcycle is available in three variants – Denim, Vivid and S at an introductory price point of INR 2,29,000/- (Denim), INR 2,49,000/- (Vivid) and INR 2,69,000 (S) respectively. The Harley-Davidson X440 can be booked online till August 3, 2023, by visiting  www.Harley-Davidsonx440.com with a booking amount of INR 5000/-.

The Harley-Davidson X440 inherits the character of the iconic Harley-Davidson brand with its commanding road presence. With its distinctive design, all-metal body, and a powerful engine, the motorcycle showcases its persona of a true performer in style. Nimble and agile in traffic, yet supremely robust and comfortable over rough terrain, Harley-Davidson X440’s ride quality opens a whole new world of inspiring riding experience. 

About Harley-Davidson

Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Since 1903, Harley-Davidson has defined motorcycle culture with an expanding range of leading-edge, distinctive and customizable motorcycles in addition to riding experiences and exceptional motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road. Learn more at www.harley-davidson.com.

Luminous Celebrates World Nature Conservation Day 2023, With 2500 Trees Under Their CSR Initiative

Luminous Power Technologies, India's leading power and energy brand, celebrated World Nature Conservation Day 2023 in a significant way by bringing together its employees from across the country to observe this important occasion. With an unwavering dedication to the planet's well-being, Luminous has embraced 'Project LIFE' (Luminous Initiatives For Environment) under which they run many such initiatives for a sustainable environment.

Through Project L.I.F.E., Luminous has set three year targets for planting trees to help combat deforestation, mitigate climate change, and restore the ecosystems. The initiative embodies the company's core values of corporate social responsibility and social impact, serving as a beacon of hope for environmental stewardship.

In collaboration with the Green Dream Foundation, this conscious effort aims to contribute to local, national, and global conservation efforts while addressing multiple Sustainable Development Goals (SDGs). During the past year, under Project LIFE, Luminous and the Green Dream Foundation successfully planted over 7500 trees across Gurugram, Baddi, Gagret, Hosur and Haridwar. Continuing with the same fervour, Luminous has continued its commitment by planting an additional 6500 trees this year. The commitment extends to nurturing these trees and ensuring their survival, too.

Speaking on the occasion, Niharika Mohan Vohra, Chief Human Resource Officer, Luminous Power Technologies, expressed gratitude to all the Luminous employees who voluntarily participated in this activity. Adding further she said, “As we look to the future, Luminous Power Technologies remains unwavering in its commitment to environmental preservation. World Nature Conservation Day 2023 is a testament to our dedication as our employees united under this cause for a greener Earth, through 'Project LIFE.' By harnessing innovation and collaboration, we envision a world where sustainability is at the core of everything we do. Our partnership with the Green Dream Foundation exemplifies our mission to create a positive global impact, setting an example for the industry and inspiring a collective effort towards a thriving, green future.”

About Luminous Power Technologies:

Luminous Power Technologies is a powerful and trustworthy brand with a wide range of innovative products in the power backup and residential solar space that covers inverters Batteries & Solar solutions. Luminous has been in business for 35 years now. Recently CRISIL has upgraded its credit rating to AAA+. With 6 manufacturing units, more than 28 sales offices in India, and a presence in over 40 countries, our 6000 employees serve more than 60,000 channel partners and millions of customers. Our motto has always been Customer Delight through Innovation & Passion with a focus on Execution & teamwork.

Lam Research And Indian Institute of Science Announce Pilot To Upskill Engineers In Semiconductor Fabrication Technology

Lam Research India today announced that it has signed a Memorandum of Understanding (MoU) with the Centre for Nano Science and Engineering (CeNSE) at the Indian Institute of Science (IISc), Bengaluru. This MoU is aimed at jointly developing a customized course offering for Indian universities to teach semiconductor fabrication technology utilizing Lam Research’s SemiverseTM Solutions virtual fabrication software, SEMulator3D®.

With the agreement, Lam reaffirms its commitment to fostering the semiconductor ecosystem in India and collaborating with academia to solve industry challenges. Since opening its first facility in India two decades ago, Lam continues to build on its role in the country’s semiconductor industry, most recently opening a state-of-the-art India Center for Engineering in Bengaluru dedicated to the creation of new technologies needed in a time of rising semiconductor manufacturing complexity.

The program, scheduled to start in August 2023 with a cohort of 30 students, will focus on device integration, including physical design learning, process flow development and virtual metrology. IISc and Lam Research will work on the framework Pilot Course syllabus with the first stage expected to be completed by December 2023 and the second stage by June 2024.

The agreement follows an announcement by governments of the United States and India in June 2023. Lam Research targets to utilize the Semiverse Solutions portfolio to deliver a virtual nano fabrication environment to help train up to 60,000 semiconductor engineers in India over the next 10 years.

Commenting on the partnership, Rangesh Raghavan, Corporate Vice President & GM, India at Lam Research said, “IISc has been a longstanding partner for Lam Research in India and we are happy to extend our relationship to help spur talent development in the semiconductor industry. We anticipate that our relationship with IISc will play an instrumental role in helping to upskill engineers and address workforce requirements as India evolves as a semiconductor manufacturing hub.”

IISc and Lam Research intend to work with the Government of India and the Government of Karnataka to explore possibilities of extending the collaboration with other universities within and outside India once the Pilot Course proves successful. After the pilot with IISc, Lam Research aims to align this curriculum with the All India Council for Technical Education (AICTE) curricula with the aim to meet its target to upskill up to 60,000 engineers over the next 10 years.

“India’s commitment to delivering 85,000 engineers by 2030 requires a transformative approach towards how we educate and train semiconductor engineers. The resources required to build a 2nm fab within a university are cost prohibitive. Training engineers in nanofabrication technologies in a virtual environment using industry-leading tools is a welcome step that will help address India’s semiconductor talent requirements in future. We are happy to partner with Lam Research in this regard. Lam Research has been our Industry Affiliate for many years, and this collaboration is an extension of our commitment to solving industry challenges through academic research and technological innovations,” said Prof. Srinivasan Raghavan, Chairperson of CeNSE, IISc.

As part of the course, students will get a chance to train on Lam Research’s SEMulator3D, a powerful 3D semiconductor process and integration modelling platform. The program is used by the world’s largest semiconductor companies, manufacturers, and foundries to model complete process flows and predict downstream ramifications of process changes that would otherwise require build-and-test cycles in the fab. Using SEMulator3D will help students learn to develop process flows and perform automated virtual experiments not feasible in the actual fab.

“As the criticality of semiconductors increases, the industry faces a major talent shortage to meet anticipated future demand. Educating the next generation of semiconductor engineers is even more daunting as it is cost-prohibitive for academic institutions to provide physical access to the most advanced nanotechnologies. This course will bring a paradigm shift for the education and training of the future Indian semiconductor workforce at greater speed and significantly reduced cost,” said David Fried, Corporate Vice President of Semiverse Solutions at Lam Research.

Lam India has been a part of CeNSE’s Industry Affiliate Program (IAP) since 2014 and is continuously engaging with the centre to collaborate on multiple innovative projects to advance the state of semiconductor technologies.

About Lam Research

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. 

Maharashtra Tourism All Set To Showcase Their Rich And Diversified Heritage At IITM

The Directorate of Tourism, Govt. of Maharashtra, has undertaken an extensive trade fairs participation and outreach across India to establish a dynamic platform to let traders showcase their tourism products while promoting the Maharashtra as a wholesome destination; at The India International Travel- IITM Bengaluru Hall-A, TripuraVasini, Place Grounds in the city. This trade fair was a window of opportunity to begin new trade relationships with regional and global partners in the tourism industry. The Directorate of Tourism, Govt. of Maharashtra pavilion saw participation of 18 tourism companies.  Mr. Vijay Jadhav, Deputy Director (Addl. Charge) And Ms Preeti Vanage Pawar, Tourism Specialist Directorate of Tourism, Govt. of Maharashtra inaugurated the exhibition stall in the presence of prominent representatives of companies from across Maharashtra.

This fair presents an exceptional opportunity to start new trade relationships with regional and global partners. The event will feature the participation of 17 esteemed tourism companies offering the wide array of tourism services like hotels, tour operators and hotel promoter etc.

Maharashtra Tourism will showcase, how it has been embarking on an unprecedented journey across India to establish a dynamic platform that enables traders to feature their products and also promote the tourism in Maharashtra. Maharashtra Tourism has been focusing upon of doing a series of events that include conclaves, road shows and trade fairs. In the process, DoT is expected to participate in  different trade fair events in 7 cities till March 24, covering East West, North and South regions of the country.

Speaking about the exclusive platform, Dr. B.N. Patil, IAS, Director, Directorate of Tourism, Government of Maharashtra  said that “ Maharashtra Tourism wants to promote Maharashtra as a wholesome destination which offers beaches, leisure, adventure, jungle, religious festivities and culinary. The state takes pride in its vivid landscape, great history, heritage and culture. He added that the we are thrilled and enthusiastic to welcome all the travelers for their exciting, value driven and action-packed itineraries in the state of Maharashtra. 

Some of the key participants in this fair are- Plaisir Hospitality Services, Hazel Tours, Xpova Destinations Pvt Ltd, Mahalakshmi Hospitality, Rhythm Hospitality,Travnet tourism services Pvt ltd, Veena World, Mani Holidays and Management Pvt ltd, Hotel Sai Chhatra, Mumbai and around, Hotel Sai Jashan, Sai Baba Travels, TL Hospitality (I) Pvt Ltd, MTDC(Maharashtra Tourism Development Corporation), Kesari Tours Pvt Ltd, TDS Tiger.com, Tripbanao and Travevl.in.

About - Directorate of Tourism, Govt. of Maharashtra:

Directorate of Tourism, Govt. of Maharashtra is the official state tourism department dedicated to promoting the rich heritage, stunning landscapes, and diverse cultural experiences that Maharashtra has to offer. The Directorate of Tourism in Maharashtra focuses on implementing various tourist campaigns, initiatives, and publicity to boost tourism. Since its establishment, the state has achieved numerous milestones and victories through various projects.  With an array of historical sites, spiritual destinations, breathtaking nature reserves, vibrant festivals, and warm hospitality, Maharashtra is a destination that caters to all traveler’s interests and preferences. Follow Directorate of Tourism, Govt. of Maharashtra on social media for updates and insights into this captivating state.

Coca-Cola And The ICC Team Up To Bring Refreshing Delight To The ICC Men’s Cricket World Cup 2023

Coca-Cola and The International Cricket Council (ICC) once again team up for the upcoming 2023 ICC Men’s Cricket World Cup. The exciting collaboration is a part of the four-year global strategic partnership agreement between the ICC and the iconic beverage company. The partnership entails Coca-Cola becoming the exclusive non-alcoholic beverage partner of the ICC.

With this, Coca-Cola will use its iconic global reach to connect with fans around the world, cultivate a legacy of unity and inculcate true sportsmanship through a series of online and offline activations. It will continue to engage with its consumers and resonate with them on their favourite sporting passion.

Arnab Roy, Vice President, Marketing Coca?Cola India and Southwest Asia at Coca-Cola India said, “We believe that the ICC Cricket World Cup is the biggest cricket event for the country. Partnership with the ICC provides us with a great opportunity to bring together our customers, consumers, brands, and cricket. Our brand activations will engage consumers through innovative offline and online promotions and create memorable experiences for sports fans”.

Coca-Cola will embark on many exciting brand activations with its beverage portfolio, including fan engagements, social media campaigns, and promotions to win tickets to the World Cup alongside unique on-ground experiences during the ICC Men's Cricket World Cup 2023.

The four-year agreement includes all ICC events around the world including the ICC Men’s Cricket World Cup 2019 in England and Wales, the ICC men’s and women’s T20 World Cups in Australia in 2020, the ICC Women’s World Cup 2021 in New Zealand and the ICC Men’s Cricket World Cup in India in 2023 amongst other global tournaments.

The partnership has strategically aligned both, ICC and Coca-Cola for the long term by combining the strength of The Coca-Cola Company’s diversified portfolio of over 500 brands and worldwide retail reach with ICC’s unwavering focus to expand the sport’s footprint globally.

Coca-Cola has been globally committed to supporting local sporting events & organizations around the world. The Coca-Cola Company has an eight-decade-long association with the Olympics. Moreover, for over four decades, it has been associated with the FIFA, T20 World Cup, and using the power of sport to bring people together and transform lives. The recent association of ThumsUp with the Olympics and Paralympics in India is a testimony to the Company’s belief in sports and its long-lasting journey toward making a refreshing difference. 

"Anurag Dahiya, Chief Commercial Officer, ICC said “The ICC Men’s Cricket World Cup 2023, the pinnacle event in the cricketing calendar, will feature the world’s best teams competing for ultimate glory. We are excited about our partnership with Coca-Cola, which promises to deliver a refreshing cricketing experience set to captivate audiences and present a grand showcase of their emotions.”

Stay tuned for more updates and announcements as Coca-Cola and the ICC join forces to create an extraordinary ICC Men's Cricket World Cup 2023 experience.

Aditya Birla Sun Life Insurance Becomes The First Private Life Insurance Company To Join Metaverse In India

Introduces a virtual 3D platform, InsureVerse, to provide an immersive & interactive policy buying experience

Aditya Birla Sun Life Insurance (“ABSLI”), the life insurance subsidiary of Aditya Birla Capital Limited (“ABCL”), announces the launch of a 3D virtual lounge in Metaverse InsureVerse, becoming the first life insurance company to enter Metaverse offering its customers a multisensory experience by enabling them to interact with Life Insurance experts & agents.

The launch of InsureVerse will empower the company to make 'customer servicing' omnipresent. The ability to meet with the customer servicing representatives in Metaverse will enable ABSLI’s customers to cut through the inconvenience of visiting a physical branch.

In the InsureVerse experience users can sign up with their personal email IDs. Further, the platform provides security features for the host/moderator for a seamless experience and provides several features for interactions such as the ability to sit down on a seat, raise hands for doubts/questions, like and dislike reactions, sticky notes, opening up portals to digital worlds and the ability to screen share.

Features & Benefits:

Virtual Lounges: ABSLI introduces interactive displays and digital walls in the virtual space, providing customers with an immersive showcase of their life insurance solutions.

Digital Avatars: Customers can create their own digital avatars, enhancing engagement as they interact with Aditya Birla Sun Life Insurance representatives in a more personalized manner.

Financial Education: The unique physical branch experience in InsureVerse fosters financial education, particularly among young customers, facilitating early exposure to crucial financial concepts.

Convenient Access: In addition to the virtual lounge, customers can access services through various digital self-service channels like WhatsApp Bot and the Web portal, ensuring a seamless experience.

Personalized Assistance: Customers can explore financial products and schemes at their convenience, receiving personalized advice from representatives in a secure and interactive environment

Aditya Birla Sun Life Insurance, MD & CEO, Mr. Kamlesh Rao said, “As one of the largest and most respected life insurance companies in the county, it is our responsibility to constantly explore platforms that fulfils our goal of rendering maximum customer satisfaction. Our InsureVerse will empower us to leverage the world’s most advanced virtual platform and establish a tech-led ecosystem designed to provide an enhanced & improved customer service experience.”

ABSLI’s 3D virtual lounge InsureVerse will consist of digital displays with product videos & interactive access to products and schemes creatives for different product segments. The company has introduced its recently launched ABSLI Nishchit Ayush Plan on the virtual platform.

The users will have the choice to select from high or low bandwidth of Metaverse Space and can access the platform through Laptop, Desktop, Mobile (Android/iOS) & Oculus headset. Moreover, the users can access InsureVerse on Metaverse through its website and create their own digital avatars by taking selfie / uploading photo.

Apollo Hospitals In Bengaluru Successfully Removed A 7.0+ Cm Kidney Stone From A Patient With “Moses technology” (Moses2.0)

·         The kidney stone was busted using an innovative new minimally invasive Holmium laser with Moses technology (Moses2.0)

·         The patient has multiple co-morbid conditions like Parkinson’s disease, diabetes, hypertension, and a cardiac condition with a post TAVI procedure (cardiac procedure) and was on blood thinners (Antiplatelet agents: ecosprin and clopilet) 

Doctors at Apollo Hospitals in Seshadripuram, Bengaluru, successfully removed a 7.2 cm kidney stone using an innovative new minimally invasive Holmium laser with 'Moses Technology (Moses2.0). According to doctors at Apollo Hospitals, it is the most unusual case in which a large kidney stone has been removed using RIRS and Moses technology.

The patient, a 65 + year-old lady, used to have recurrent flank pain for 1 year, and on evaluation, she was found to have large kidney stones measuring 7.0 + cm, producing a staghorn pattern calculus. Her case was a challenging one, as she had four other co-morbid conditions like Parkinson’s disease, diabetes, hypertension, and a cardiac condition with a post TAVI procedure (cardiac procedure) and was on blood thinners (Antiplatelet agents: ecosprin and clopilet). Her condition was challenging in that the stone was large (occupying 2/3 of the kidney and upper ureter) and associated with comorbidity as mentioned above, and moreover, the patient was taking blood thinners (which makes the invasive surgery next to impossible).

Dr. T. Manohar, Chief Urologist & Transplant surgeon, Apollo Hospitals, Seshadripuram said, "We took up this challenging case at our hospital and promised her a ray of hope. With our team and technical experts, we have decided to go ahead with the procedure using the new Moses 2.0 technology. The huge kidney stone was cleared with only minimal incisions and minimal blood loss. The patient is doing well after the operation and is on the path to recovery.”

The currently available treatment for such large stones is PCNL (where the kidney is punctured and stones are removed through 2-3 holes), which might lead to severe bleeding and incomplete clearance. She was advised to undergo conservative management by several other specialists. Also, it requires multiple staged procedures if done via conventional methods. On seeing the success rates and benefits of "Moses technology" (Moses 2.0), Dr. T. Manohar added, "The new stone age era has arrived for Uro Sciences."

Speaking on the success of this urology case, Mr. Uday Davda, COO, Apollo Hospitals, Seshadripuram, said, "The doctors at Apollo Hospitals, Seshadripuram, Bengaluru, have been at the forefront in using advanced technologies in medical science. Till date, we have successfully removed more than 1200 kidney stones, and among them, more than 500 were large kidney stones, varying in size from 2.5 cm to 6.2 cm. This large stone (7.0 + cm) is treated by RIRS and Moses technology."

Bidadi Industries Association (BIA) Celebrates Environment Month, Promoting ‘Beat The Plastic’ Campaign

* Involved various industry members along with strong participation from Toyota Kirloskar Motor (TKM) employees, actively taking part in the clean-up drives and various other eco-initiatives

Bidadi Industries Association (BIA) successfully concluded their month-long clean-up drives in the Bidadi Industrial Area, marking the environment-month celebration, reaffirming their commitment to community and sustainability initiatives. The campaign, centred around the theme of "Beat the Plastic Pollution," aimed to create awareness among the community and promote eco-friendly practices.

Plastic pollution emerges as a grave menace, disrupting the delicate balance of our environment and its inhabitants. The repercussions are far-reaching as plastic pollution disturbs the harmony of ecosystems, tainting the purity of soil and water. Recognizing the severity of the issue, BIA centred the plastic clean-up drives, which garnered an overwhelming response from Bidadi’s industry-based employees and volunteers showcasing their collective dedication towards environmental conservation. These initiatives also witnessed the strong active participation of the employees from Toyota Kirloskar Motor (TKM) contributing to the good cause of the environment. More than 500 employees, from various industries located in BIA, along with their families voluntarily & enthusiastically participated in multiple eco-driven activities.

Furthermore, a range of engaging activities were also organized, such as eco competitions, including essay writing, environment posters, and best eco practices, to educate and inspire the participants and the community at large, about the significance of preserving our planet. In addition, the campaign featured a street play by engineering students to raise awareness about plastic pollution and its detrimental effects. Community dustbins were also installed to facilitate proper waste disposal and contribute to maintaining a clean and safe environment. The joint efforts of BIA along with TKM reinforces the commitment to building a safe and sustainable industrial area, creating opportunities for growth, and contributing to the overall development of the region.

This month-long environmental campaign culminated with a Valedictory Session including prize distribution to the participants, appreciated for their strong eco-efforts. This also served as an opportunity for participants to reflect on their joint efforts and the positive impact they have made in creating a cleaner and safer environment in Bidadi Industrial Area. This important occasion was graced by esteemed dignitaries, including the Chief Guest, Shri. H. C. Balakrishna, Hon’ble Member of Legislative Assembly representing the Magadi Constituency, Karnataka, and the Guest of Honour, Mr. V. C. Mohan, Senior General Manager at Bosch Limited. The campaign's impact will continue to resonate, inspiring individuals and organizations to take proactive steps towards a more sustainable future.

BIA has taken proactive measures to minimize its environmental impact and align with sustainability objectives. In 2020, under the guidance of TKM and with the collaboration of other industries, BIA established the Centralized Solid Waste Management Facility (CSWMF), capable of processing 10 tons of municipal waste per day. Presently, in addition to collecting segregated waste from designated pickup points in 11 neighbouring villages, BIA has successfully onboarded 121 member industries who utilize CSWMF for the disposal of their non-industrial, non-hazardous municipal solid waste in compliance with KSPCB (Karnataka State Pollution Control Board) regulations. This initiative ensures that no waste is directed to landfills, thereby fostering a clean and waste-free environment in the industrial area.

Present at the occasion, Shri. H C Balakrishna, Hon’ble Member of Legislative Assembly representing the Magadi Constituency, Karnataka, said, "We commend the continued efforts of Bidadi Industries Association, including their month-long eco initiatives conducted in the Bidadi Industrial Area. The plastic pollution is a serious concern that requires collective action, and this campaign to 'Beat the Plastic Pollution' is a progressive step towards raising awareness and promoting eco-friendly practices. Such collaborative endeavours play a crucial role in preserving our ecosystems and maintain a plastic-free, safe environment for the community to live. We strongly support such initiatives and encourage more industries to join forces, making a positive impact on the environment and society at large".

Speaking on the occasion, Mr. V. C. Mohan, Senior General Manager, Bosch Limited said “We firmly believe that the path to progress lies in harmony with nature. We believe that environmental conservation and sustainability are not just the responsibility of individual organizations, but a collective duty of all stakeholders. We take pride in being a part of the solution, and our partnership with BIA, along with Toyota Kirloskar Motor is a testament to our commitment to building a sustainable, prosperous, and environmentally conscious future for all. Together, we can create opportunities for growth while preserving the sanctity of our surroundings, leaving a positive legacy for the region's development and the well-being of our communities.”

Sharing his thoughts, Mr. Vikram Gulati, Country Head and Executive Vice President of Toyota Kirloskar Motor said “At Toyota Kirloskar Motor, we firmly believe in the power of collective action and the responsibility we hold towards preserving our environment. The eco initiatives in the Bidadi Industrial Area represented by various industry members including Toyota Kirloskar Motor, is a testament to our sustainability mindset, unwavering commitment to corporate social responsibility and environment conservation. Through this campaign, we are not only supporting the cleanliness of the Industrial Area but also fostering a sense of responsibility towards the environment.  Through active involvement of our employees, the aim has been to create awareness about plastic pollution, to inspire, change, and instil a deep-rooted sense of environment consciousness”.

The Bidadi Industries Association (BIA) is an independent body, registered under the ‘Karnataka Societies Registration Act, 1960,’ formed by the industries of the Bidadi industrial area. This has been done under the eminent leadership of Toyota & Bosch, with the support of other large, medium, and small industries operating in the region.

With TKM's ongoing support and collaborative approach, BIA aims to develop Bidadi into an important manufacturing hub in Karnataka. The association together with TKM and other industries, implements need-based social interventions for the benefit of community, where it operates. The partnership functions under the concept of "FOR THE COMMUNITY, BY THE COMMUNITY," and focuses on industry connect, government connect, estate management, community connect, and environment, health, and safety (EHS).

Tata Steel Becomes First Company In India To Use LNG Powered Capesize Bulk Carrier For Its Raw Material Movement

~ Imported 1,65,700 metric tons of coal from Gladstone, Australia to Dhamra, India with 35% less carbon emission as compared to traditional methods ~

Tata Steel has adopted various “industry first” initiatives in sustainability. Reiterating its commitment to a sustainable future, Tata Steel becomes the first Indian company to import cargo on bulk carrier that uses LNG as fuel instead of traditional VLSFO (Very Low Sulphur Fuel Oil). This groundbreaking vessel sets a new benchmark for sustainable shipping practices in India and marks a significant milestone in the country’ maritime sector.

On July 24, 2023, cape vessel "MV Ubuntu Unity" successfully berthed at Dharma port to discharge 1,65,700 metric tons of coal. The vessel was received at port by Ranjan Sinha, Chief Group Shipping, Tata Steel, along with other senior executives of Tata Steel and Dhamra Port. Going forward, Tata Steel plans to import ~1 million tons of coking coal in FY24 from Australia in such LNG powered vessels. Dhamra Port also extended special privilege to the LNG vessel thereby contributing to Tata Steel’s quest to lower Scope 3 emission.

MV Ubuntu Unity loaded coal from Gladstone port and sailed off on July 1, 2023. She used LNG during its ballast leg (Tianjin to Gladstone) and a mix of LNG and traditional fuel during its laden leg (Gladstone to Dhamra). Carbon emission for this voyage was ~1800 tons lesser which is ~35% less as compared to traditional Baltic specification cape vessels.

LNG is a cleaner fuel as compared to heavy fuel oil used in bulk ships and with increasing availability of LNG, this fuel is considered as transition fuel on the path of zero carbon emissions. Equipped with state-of-the-art technology, the vessel significantly reduces carbon emissions thereby aligning with global efforts to reduce climate change.

Peeyush Gupta, Vice President, Group Strategic Procurement and Supply Chain, Tata Steel, said: “In 2021, Tata Steel became the first in the Indian Steel Industry to deploy a ship powered by biofuel. We continued the decarbonation drive with 7 biofuel shipments in FY23. In continuation to our sustainability drive, in FY24, we are the first to deploy an LNG powered vessel for transportation of raw materials to India. This is a landmark initiative to lower the Company’s Scope 3 carbon footprint. With innovation and participation of all the partners, in FY24, we endeavour to perform 10% of our total number of shipments for imports through alternate fuel powered vessels.”

Earlier in December 2021, Tata Steel had deployed the first Bio-Fuel powered vessel MV Frontier Sky which was also the first by any Indian steel manufacturer.

Tata Steel is also the first steel producer in the world to join the Sea Cargo Charter (SCC) to align its chartering activities with responsible environmental behaviour, consistent with the policies and ambitions of International Maritime Organisation.

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.

·         It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.

·         The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.

·         A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.

·         Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.

·         The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.

·         Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.

·         The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.

·         Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification.

·         Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.

·         Received 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.

YES Bank Launches UPI Payments Through RuPay Credit Cards

YES BANK today, announced the launch of UPI payments through RuPay Credit Cards. With this, customers can now link their YES BANK RuPay Credit Card with UPI-enabled apps such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik, PayZapp, among others, making credit card-based transactions easier with enhanced security. 

The launch of UPI Payments through RuPay Credit Cards empowers customers to now enjoy the ‘credit-free’ period feature on a UPI platform, which was earlier only limited to POS/eCom based transactions. Any existing YES BANK Credit Card customer who does not have a RuPay Credit Card can avail a virtual YES BANK RuPay Credit Card and link it with their existing UPI app.

Enabling UPI on RuPay Credit Cards is a revolutionary initiative in the field of payments as this will offer multiple advantages to the customer and increase payment acceptability across millions of merchants who are available on the UPI platform, while also extending benefits of a credit card.

Speaking about the launch, Mr. Rajan Pental, Executive Director, YES BANK, said, "Today, YES BANK powers nearly 40% of all the UPI merchant transactions in the country. Given our digital prowess, over the years, we have built capabilities that can power digital transactions at scale, thereby impacting the lives of millions of customers. The launch of our UPI payments facility on RuPay Credit Cards is a testament to the effort, through which, we aim to provide customers with a rewarding and convenient banking experience.  With this collaboration, we aim to further strengthen India’s march towards establishing a digitally empowered economy, while providing a safe, secure and seamless payment experience for customers.”

Commenting on the launch, Ms. Praveena Rai, Chief Operating Officer, NPCI, said, “We are delighted to onboard YES BANK RuPay Credit Card customers to experience this cutting-edge digital payments solution that combines the convenience of UPI with the benefits and rewards of RuPay Credit Cards. With the integration of YES BANK RuPay Credit Card on UPI, individuals can make seamless transactions across online and offline platforms on RuPay’s highly secure network, eliminating the necessity of physically carrying their card. As the demand for credit cards continues to rise in the country, RuPay Credit Card on UPI is changing the perception of credit consumption and has the potential to deepen credit penetration particularly in semi-urban and rural areas”.

In addition to the convenience and ease of UPI transactions, users of YES BANK RuPay Credit Card can avail the following benefits:

Safety and security: UPI payments on YES BANK RuPay Credit Cards are safeguarded with robust security measures, ensuring the protection of customers' financial data.

Reward points: Customers can earn attractive reward points on UPI transactions.

Credit-free period functionality: Leveraging the credit-free period feature of Credit Cards, customers can now manage their finances efficiently even when they use UPI.

Consolidated billing: YES BANK offers the convenience of settling the consolidated bill of UPI payments once a month through the Credit Card statement, simplifying financial management for customers.

Steps to link YES BANK RuPay Credit Cards on UPI:

Tap on profile icon / bank account icon

Click on linking ‘RuPay Credit Card’ option

Select ‘YES BANK’ from the dropdown of bank names

Find ‘YES BANK RuPay Credit Card’ and verify  

About YES BANK

YES BANK is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to retail, MSME as well as corporate clients. YES BANK operates its investment banking, merchant banking and brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank's website at http://www.yesbank.in/

Follow YES BANK on Twitter @YESBANK

About NPCI

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

For more information, visit: https://www.npci.org.in/

Bengaluru’s Public Transportation To Add A New Dimension; BMTC To Induct Advanced Electric Buses

* Commuters will soon be able to enjoy comfortable, noise-less and eco-friendly travel

The citizens of Bengaluru will now have smarter, safer and a greener public transportation. A prototype of the Tata Motors’ smart electric bus was flagged off today, by Shri Ramalinga Reddy, Hon’ble Minister of Transport, Government of Karnataka, Dr. N. V. Prasad, IAS, Secretary to Government, Transport Department and Ms. G Sathyavathi, IAS, Managing Director, Bengaluru Metropolitan Transport Corporation (BMTC) along with delegates from Government of Karnataka, BMTC and Tata Motors. As part of the larger order signed between TML Smart City Mobility Solutions Ltd., a fully owned subsidiary of Tata Motors, and BMTC, the company will supply, operate and maintain 921 units of state-of-the-art 12-metre low-floor electric buses for a period 12 years. Tata Starbus EV is an indigenously developed bus with superior design and best-in-class features for sustainable and comfortable commute.

Commenting on the announcement, Ms. G Sathyavathi, IAS, Managing Director, Bengaluru Metropolitan Transport Corporation, said, "Meeting the high-quality benchmark, we are elated to flag off Tata Motors' electric bus prototype. The advanced features and impressive performance of the electric bus align perfectly with BMTC's commitment to reducing our carbon footprint and improving the quality of life for our citizens. We look forward to supplementing our fleet with Tata Motors’ new, smart electric buses."

Speaking at the occasion, Mr. Asim Kumar Mukhopadhyay, CEO and MD, TML Smart City Mobility Solutions Limited said, "We are delighted to see our first smart electric bus get flagged off in Bengaluru. For decades, Tata Motors’ advanced research and development facilities have meticulously created offerings that are cutting-edge and eco-friendly. The bus flagged off today is equipped with state-of-the-art features and ergonomic design, providing commuters a hassle-free travel experience. We are confident that our electric buses will make public transportation safe, comfortable and energy efficient."

The Starbus EV boasts a top-of-the-line design, advanced safety features and a powerful, energy-efficient electric drivetrain. With zero tailpipe emissions, the e-bus contributes significantly to reducing air pollution and mitigating the impact of climate change. It comes with features like new-gen electric powertrain, advanced Integrated Transport System, Electronic Stability Control, Electronic Brake Distribution, advanced telematics system along with comfortable seating for 35 passengers and easy ingress and egress with its low-floor configuration. Till date, Tata Motors has supplied more than 900 electric buses across multiple cities in India, which have cumulatively clocked more than 8 crore kilometres, with an uptime of over 95%.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, UK, US, Italy and South Korea. With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors’ vehicles are marketed in Africa, Middle East, Latin America, South East Asia and SAARC countries. As of March 31, 2023, Tata Motors’ operations inter alia includes 88 consolidated subsidiaries, 2 joint operations, 3 joint ventures and numerous equity-accounted associates, including their subsidiaries, in respect of which the company exercises significant influence. 

ACC Announces Another Robust Quarter With YoY Growth In EBITDA By 77% And 105% In PAT Fuelled By Volume Growth And Excellence

EDITOR’S SYNOPSIS 

·          Net Revenue up 16.4% YoY at Rs. 5,201 Cr  

·          Volume up by 23.2% YoY, at 9.4 MioT  

·          EBITDA on YoY basis jumped by 77% from Rs. 480 Cr to Rs. 848 Cr  

·          PAT rose to Rs. 466 Cr as compared to Rs. 227 Cr last year 

·          Cash & Cash equivalent stands at Rs. 3,226 Cr at the end of quarter 

ACC Limited, the cement and building material company of the diversified Adani Group, today announced the financial results for the quarter ended June 30, 2023. The stronger financial performance in this quarter was driven by volume growth and business excellence. 

Operational Highlights: 

·         Volume increased by 23.2% YoY at 9.4 MioT supported by increase in blended cement and improvement in efficiency parameters. Market leadership maintained across key markets. 

·         Kiln fuel cost reduced by 15.5% from Rs. 2.52 per ‘000 kCal to Rs. 2.13 per ‘000 kCal 

·         WHRS at Jamul & Kymore plants (22.4 Mw) have become fully operational. WHRS share has improved from 2.0% to 8.4%. Further 16.3 Mw is expected to commission this year tacking total capacity to 46.3 Mw.  

·         Energy efficiency, manpower productivity and other operational efficiency improvement measures have helped to optimise cost.  

Financial Highlights:  

·         YoY basis, Net Revenue experienced a 16.4% increase, reaching Rs. 5,201 Cr, while EBITDA surged by 77% to Rs. 848 Cr. EBITDA margin expanded by 5.6% from 10.7% to 16.3%. 

·         EBITDA is expected to sustain with further improvement due to various efficiency & operational excellence initiatives 

·         RMX & Construction Chemicals sectors are on robust growth trajectory and likely to grow faster driven by investments in construction segments & rapid urbanisation 

·         Ametha Integrated Unit to be commissioned by Q2 FY24 which will increase Clinker capacity by 3.3 MTPA (EC approvals in hand for 2.75 MTPA) and Grinding capacity by 1 MTPA. 

Mr. Ajay Kapur, Whole Time Director & CEO, ACC Limited?said, “We are delighted to report a strong performance in the first quarter of FY 2023-24, with a 16.4% increase in revenue and 105% increase in PAT compared to the previous year same quarter. The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimize operations and reduce environmental impact.?As?we are committed to delivering the best for every stakeholder, we are proud to be?ranked No.2 in ‘India’s Most Trusted Cement Brands 2023’ by TRA.?We thank our customers, partners, employees and shareholders for their trust and support, and we look forward to building on this momentum in the rest of the year. 

Sustainability has been a fundamental tenet of operational and growth planning, woven seamlessly into all our endeavors.?We are proud to be recognised amongst ‘India’s Top 50 Most Sustainable Companies’ Cross Sector by BW Businessworld, while winning several other awards and accolades for our outstanding work.?We have persistently strived to diminish carbon footprint by reducing the clinker factor, curbing thermal and electrical energy intensity, implementing Waste Heat Recovery Systems across facilities, and augmenting usage and capacity for renewable energy generation. 

We started this financial year with a campaign highlighting the aspect of Building India since 1936 though ACC’s Suraksha film. With cricket being something that our target audience strongly associates with, we capitalized on the India v/s Australia World Test Championship through our advertisements during the series. Through our Technical Services, we are enabling an ecosystem of right and sustainable construction practices?for the larger benefit of society. 

Our long-term competitiveness remains robust, ensuring industry-leading profitability even as we chase our ambitious growth goals. With a firm belief in strategic approach, we are poised to continue our trajectory of outstanding performance in the forthcoming quarters.”? 

Outlook  

Cement industry is in positive cycle of demand as well as cost factors. This is coming at the most appropriate time when the company is under transformation phase, buoyed by synergies with the group. We expect the positive trend of industry to continue in coming quarter. 

ESG Highlights: 

·         ACC continues its strong focus on low carbon portfolio through green product and solutions launched. 

·         Launched the state of the art Cement and Concrete Research facility in Navi Mumbai. 

·         Increasing the WHRS capacity and scaling up renewable power. 

·         Committed to achieve five times water-positive status by 2030.  

·         57,000 new beneficiaries added during the quarter under CSR initiatives. Strong focus on Water Management, Sustainable Livelihoods and Social Inclusion continues. 

·         Improvements in energy efficiency resulting in low carbon emissions. 

Awards: 

·         ACC ranked No.2 in ‘India’s Most Trusted Cement Brands 2023’ by TRA Research 

·         ACC recognized amongst ‘India’s Top 50 Most Sustainable Companies’ Cross Sector by BW Businessworld 

·         ACC was felicitated with the ‘Digital Customer Experience Award 2023’ for Best Customer & Influencer Engagement 

·         ACC received the ‘Safety Award’ by the National Safety Council of India .

Axis Bank Enters Asia Book Of Records For Its Clean-A-Thon Initiative

Axis Bank, one of largest private sector banks in India, has set a record and has entered the Asia Book of Records for ‘Clean-A-Thon’, a nation-wide cleanliness drive which was organized in alignment with the World Environment Day 2023. The Asia Book of Records has felicitated the Bank with two titles - "Maximum Water Bodies Cleaned During a Week-Long Cleanliness Drive," and "Maximum Kilograms of Garbage Collected from Water Bodies Across Multiple Cities. The Bank was recognized for its contribution in removing a substantial amount of waste from polluted water bodies, thus making a palpable difference.

During the week-long cleanliness drive, Axis Bank collaborated with 14 NGOs to spearhead this nation-wide initiative. The drive witnessed the participation of over 3,700 enthusiastic volunteers, who rallied together to clean 22 water bodies across 18 cities in India. This collective effort resulted in the collection of 12,794 Kg of waste from these water bodies, making a significant impact on the environment.

Commenting on this noteworthy accomplishment, Mr. Ravi Narayanan, Group Executive – Branch Banking, Retail Liabilities & Product, Axis Bank, said, ‘’It is a proud moment for all us that Asia Book of Records has bestowed us with these prestigious titles. Through this campaign, we aim to awaken environmental consciousness and engage communities in taking action against plastic pollution. The overwhelming response and active participation of more than 3,700 volunteers highlights the collective responsibility we all bear toward safeguarding our environment. Axis Bank remains committed to promoting sustainability and making a positive impact on society."

Axis Bank's commitment to environmental stewardship goes beyond Clean-A-Thon. The Bank has consistently undertaken various initiatives to drive sustainable practices and create awareness about environmental conservation. By leveraging its extensive network, Axis Bank strives to foster a cleaner and greener future for generations to come.

About Axis Bank:

Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. With its 4,945 domestic branches (including extension counters) and 15,798 ATMs across the country as on 30th June 2023, the network of Axis Bank spreads across 2,754 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund, and Axis Bank Foundation.

For further information on Axis Bank, refer to the website: https://www.axisbank.com

Meta And ‘India AI’ To Foster Advancements In AI Technologies Across India

Recent breakthroughs in generative AI have triggered many conversations on the role of these technologies in fostering innovation and coming up with solutions for the real-world. Advancing its efforts towards an open approach for AI, Meta signed a Memorandum of Understanding with the ‘India AI’, an independent business unit (IBD) under Digital India Corporation (DIC), Ministry of Electronics and Information Technology (MeitY), Government of India, to foster collaboration in the field of Artificial Intelligence (AI). This collaboration will establish a framework of cooperation between ‘India AI’ and Meta in the field of Artificial Intelligence & Emerging Technologies including to make Meta’s open-source AI models available for use by Indian AI ecosystem.The MoU was signed by Abhishek Singh, CEO of ‘India AI’ and Shivnath Thukral, Director, Public Policy, Meta in India.

Nick Clegg, President, Global Affairs, Meta, said, Meta’s open approach to AI innovation is complementary to India’s leadership on digital issues. Giving businesses, startups and researchers access to these technologies can open up a world of social and economic opportunities. With close collaboration between government and industry, we can strengthen India’s digital leadership and help to ensure AI tools are built for India’s unique needs.

Abhishek Singh, CEO of ‘India AI’, said, India is at the forefront of adopting digital technologies and it is evident that AI and Emerging Technologies will play a pivotal role in expanding the advantages of technology to a broader population. Through this collaboration with Meta, the joint research and development endeavours will tackle large-scale challenges by leveraging cutting-edge AI technologies like Llama and other open-source solutions.

India AI’ and Meta have entered into a collaboration aimed at advancing research and development in AI & Emerging Technologies, seeking breakthroughs in AI technology and its applications. Additionally, both organisations may also consider establishing a Centre of Excellence to nurture the startup ecosystem of AI & other Emerging Technologies. Leveraging Meta’s AI research models like LlaMA, Massively Multilingual Speech, and No Language Left Behind, the collaboration will focus on building datasets in Indian Languages to enable translation and large language models, with priority given to low-resource languages. This effort will foster social inclusion, improve government service delivery, and spur innovation using large language models, Generative AI, cognitive systems, and translation models.

Furthermore, ‘India AI’ and Meta will strive to enhance accessibility to AI compute resources for researchers, startups, and organizations with limited resources. Knowledge sharing and collaboration in AI & Emerging Technologies will be facilitated through workshops, seminars, conferences, and similar platforms.

Additionally, ‘India AI’ and Meta share a common goal of raising awareness about AI’s potential benefits and risks among various stakeholders, including policymakers, businesses, civil society, and the general public. They will also work together to promote responsible AI practices through the collaborative development of comprehensive tools and guidelines.

Meta’s AI Research Models Being Already Being Tested By Indian Academic Institutions

We believe an open approach is the right one for building with AI models of today’s capabilities, and need to work in collaboration with others in industry, government, civil society and academia to advance them in a responsible way, and they need to find ways to bring people into the process as they develop the guardrails that AI systems operate within.

To help build the foundation blocks for translation of low-resource languages, Meta has created and expanded open data sets for research use like ccMatrix, Vox Populi and released benchmarking datasets like FLORES-200, Casual Conversations v2 Dataset for academic use. 

Our AI research model, No Language Left Behind (NLLB-200) enables translation of 200 different languages (including 25 Indian languages), helps improve the way researchers evaluate and expose potential algorithm biases in their computer vision and audio systems.  For some Indian-based languages, NLLB-200’s translations were more than 70% accurate, proving to be a game changer for a country as diverse as India. 

Our research efforts have also made significant progress on expanding speech recognition technologies for low-resource languages with the Massively Multilingual Speech (MMS) project speech-to-text, text-to-speech model for 1,100+ languages (including around 60 Indian languages) for research use cases.

India’s velocity of change on back of adoption of new technologies is inspirational

India has been at the forefront of technological advancements for almost a decade now. With a thriving developer base and third largest start-up ecosystem in the world, India can use technologies like AI to further strengthen its digital governance and applications that have the ability to transform everyday lives of people. As per the OECD observatory, in 2022 Indian developers have already made maximum contributions to the public AI software development projects. 

By making AI models available openly we are giving these developers, businesses, startups, entrepreneurs, and researchers access to tools developed at a scale that would be challenging for them to build themselves, backed by computing power they might not otherwise access. This will open up a world of opportunities for them to experiment, innovate in exciting ways, and ultimately benefit from economically and socially.

Conclusion: 

Meta is on the bleeding edge, with world-class research and technical leadership matched with deep investment and global scale. This means our teams are uniquely positioned to work on some of the most challenging problems out there—and to apply that work to building real products that solve real problems.

Throughout our company’s history, we’ve experienced the benefits of an open source approach when innovating in other areas of the business. Our engineers developed and shared frameworks that are now industry standards — like React, a leading framework for making web and mobile applications, and PyTorch, which is now the leading framework for AI. These became commonly used infrastructure for the entire technology industry. We believe that collaborations like the one with the Ministry of Electronics and Information Technology, Government of India will be a significant step forward in supporting the development of helpful and safer generative AI too.

Latest SonicWall Report Reveals Stealthier Threat Actor Behaviors: Cryptojacking Soars As Cyberattacks Increase, Intensify, Diversify

* India sees 133% increase in Ransomware and 311% surge in IoT attacks

* India witnessed alarming % age rise in Ransomware, IOT attacks and Intrusion attempts

*  Malware (-7%) and Cryptojacking attacks (-73%) in the negative in India

* Intrusion attempts climb (+21%), with a record surge in cryptojacking volume (+399%)

* Cryptojacking volume in NOAM and Europe jumps (+345%) and (+788%) respectively 

* IoT malware (+37%) and encrypted threats (+22%) also on the rise

* Opportunistic threat actors target education and government verticals with digital barrage

* SonicWall discovered 172,146 ‘never-before-seen’ malware variants

* Lowest first half totals on ransomware attempts (-41%) since 2020, despite big Q2 jump – suggesting a likely rebound over the next 6 months

SonicWall, publisher of trusted cyberattack intelligence and leader of ransomware data, today released the 2023 SonicWall Mid-Year Cyber Threat Report. The bi-annual report uncovers evolving tactical behaviors from digital threat actors as they opt for different types of malicious attacks compared to years past.

Overall intrusion attempts were up, led by the highest year on record for global cryptojacking volume recorded by SonicWall, as threat actors shifted away from traditional ransomware attacks in favor of a stealthier means of malicious activities. The data suggests increased law enforcement activity, heavy sanctions and victims’ refusal to pay ransom demands have altered criminal conduct, and threat actors are targeting other means of revenue.

“The seemingly endless digital assault on enterprises, governments and global citizens is intensifying, and the threat landscape continues to expand,” said SonicWall President and CEO Bob VanKirk. “Threat actors are relentless, and our data indicates they are more opportunistic than ever, targeting schools, state and local governments, and retail organizations at unprecedented rates. The 2023 SonicWall Mid-Year Cyber Threat Report helps us better understand the mindset and criminal behavior that will in turn help SonicWall create the right countermeasures, and help organizations protect themselves by being better prepared and build stronger defenses against malicious activities.”

““The report shows that while India saw a lesser rise in crypto attacks, there has been a huge growth in ransomware and IoT attacks overall.  These rises in cyberattacks pose great risks to India’s economic ambitions, with industries from manufacturing to pharmaceuticals becoming more vulnerable as they continue to digitize operations. SonicWall shares critical cyber data that depicts the dramatic rise in the number of attacks, combined with progressively complex attack methods that are designed to breach and damage organizations. All organizations must be vigilant in defending their infrastructure from digital threats and finding new ways to expand or replacing traditional security systems and provide rapid remediation services when necessary,” said Debasish Mukherjee, Vice President Regional Sales, APJ, SonicWall.

Rise of Cryptojacking; Evolution of Ransomware

Cybercriminals are diversifying and expanding their skill sets to attack critical infrastructure, making the threat landscape even more complex and forcing organizations to reconsider their security needs. Despite the decline in global ransomware attempts (-41%), a variety of other attacks have trended up globally, including cryptojacking (+399%), IoT malware (+37%) and encrypted threats (+22%).

“SonicWall intelligence suggests that bad actors are pivoting to lower-cost, less risky attack methods with potentially high returns, like cryptojacking” said SonicWall Vice President of Product Security Bobby Cornwell. “It also explains the reason we’re seeing higher levels of cybercrime in regions like Latin America and Asia. Hackers search for the weakest points of entry, with the lightest possible repercussions, limiting their risk and maximizing their potential profits.”

Financially motivated threat actors continue to be successful despite challenges. They have pivoted to crimes with greater certainty of success but they will not abandon proven tactics like ransomware; they are simply shifting strategy by target rather than exiting altogether.

Prominent attacks continued to plague enterprises, cities, airlines, and even K-12 schools, causing widespread system downtime, economic loss and reputational damage. While several industries followed the global trend of ransomware volume decline, they saw a huge growth in cryptojacking attacks: education (+320X), government (+89X) and healthcare (+69X).

Threat Actors Diversify Cyberattack Strategies

Cybercriminals are using increasingly advanced tools and tactics to exploit and extort victims. While ransomware continues to be a threat, SonicWall Capture Labs threat researchers expect more state-sponsored activity targeting a broader set of victims in 2023, including SMBs, government entities and enterprises.

The 2023 Mid-Year SonicWall Cyber Threat Report provides insight on a range of cyber threats, including:

Malware – Total global malware volume dipped slightly (-2%), in the first half of 2023, with the U.S. and U.K. logging the biggest dips – (-14%) and (-7%) respectively. Surprisingly, malware numbers climbed in every other tracked region. Europe saw an (+11%) increase, while Latin America malware jumped (+19%) – suggesting a geo-migration of threat actor behavior as they move from targeting traditional hotspots to more opportunistic locations.

Ransomware – Although overall ransomware numbers saw a -41% decline globally, Q2 suggests a potential rebound, as it spiked 73.7% when compared to Q1. Some countries still felt the sting of ransomware attacks as Germany increased (+52%) and India spiked a whopping (+133%).

IoT Malware – Global volume rose 37%, totaling almost 78 million hits by the end of June. As connected devices continue to rapidly multiply, bad actors are targeting weak points of entry as potential attack vectors into organizations.

Encrypted Threats – Yet another quieter approach embraced by bad actors in the last six months was encrypted threats, which climbed (+22%) globally 

“Every year we see cybercrime increase at a staggering and unprecedented rate, and our customers depend on us protect their most valuable digital assets,” said President and CEO of LAN Infotech Michael Goldstein. “That is why we have partnered with SonicWall for the past 15 years, knowing that they will always deliver cutting-edge products and timely research to provide us with the support we need to keep our customers safe. Reports like the 2023 SonicWall Mid-Year Cyber Threat Report arms the channel with the latest cyber trends and helps us become trusted advisors to provide sound security measures to our customers.”

Patented RTDMI Discovered more than 172,000 ‘Never-Before-Seen’ Malware Variants

SonicWall’s patented Real-Time Deep Memory InspectionTM (RTDMITM) technology identified a total of 172,146 never-before-seen malware variants in the first half of 2023, which is down (-36%) year-over-year, suggesting bad actors are spending less time on research and development, and more time on volume-based attacks – utilizing open-source tools that may be less likely to be intercepted. In addition, threat actors appear to be leverage existing tools – leaning on tools they know will help them be successful.

Despite the dip in never-before-seen malware variants, the threat landscape remains complex, with almost 1,000 strains of new variants discovered each day.

To learn more about SonicWall and get the complete 2023 SonicWall Mid-Year Cyber Threat Report, visit www.sonicwall.com/threatreport.