Saturday, November 11, 2023

Manipal Academy of Higher Education (MAHE) Awarded Centre of Excellence In Life Sciences Sector

In a landmark achievement, the Manipal Academy of Higher Education (MAHE) has been recognized as the first Centre of Excellence in the Academic sector for Life Sciences. This prestigious certification was awarded by the Life Sciences Sector Skill Development Council (LSSSDC), New Delhi, marking a significant milestone in MAHE's journey towards academic and professional excellence.

During a formal ceremony held at Manipal, Dr. Nivedita M, Senior Director of Assessment, Accreditation & Certification at LSSSDC, presented the Certificate of Excellence to Lt. Gen Dr. M D Venkatesh, Vice Chancellor of MAHE. This momentous occasion also saw the signing of a Memorandum of Understanding (MoU) between MAHE and LSSSDC, laying the foundation for future skilling activities for students and faculty in the Life Sciences sector.

The Centre for Pharmaceutical Skill Development (CPSD) at MAHE played a pivotal role in earning this distinction. Under the guidance of key personnel including Dr. Sharath K Rao, Pro Vice Chancellor (Health Sciences), Dr. Giridhar P Kini, Registrar of MAHE, Dr. C Mallikarjuna Rao, Principal of MCOPS, and Dr. Anup Naha, Coordinator of CPSD, along with Dr. Srinivas Hebbar, Co-coordinator of CPSD, the institution has demonstrated exceptional prowess in pharmaceutical education and skill development.

In celebration of this collaboration, a three-day skill-based training and certification program under LS-Pro was conducted by the CPSD, MAHE, with support from LSSSDC. The program, held from November 3rd to 6th, 2023, witnessed the participation of approximately 100 pharmacy students from the Manipal College of Pharmaceutical Sciences. These students were trained and certified by LSSSDC for roles in pharmaceutical marketing and sales, further emphasizing MAHE's commitment to enhancing employability and industry readiness among its students. The LSSSDC, functioning under the National Council for Vocational Education and Training (NCVET) and the Ministry of Skill Development & Entrepreneurship (MSDE), plays a crucial role as an advisory and monitoring body for industry engagement in apprenticeships. This recognition from such a reputed council solidifies MAHE's standing as a leader in the field of Life Sciences education and skill development.

MAHE's new status as a Centre of Excellence is not just an accolade but a responsibility to continue fostering a skilled workforce that can contribute significantly to the Life Sciences sector. This achievement is a testament to MAHE's enduring commitment to excellence in education, research, and skill development.

Kotak’s Cardless EMI On Amazon To Offer Instant Consumer Finance In 3 Steps

* With just Mobile No and PAN, millions of pre-approved customers can shop Consumer Durables on EMI, instantly

* EMI brings affordability; Kotak’s Cardless EMI makes payment experience seamless

Kotak Mahindra Bank (“KMBL”/ “Kotak”) today announced the launch of Cardless EMI (Equated Monthly Instalments) Payments on Amazon Pay, to provide its pre-approved customers easy access to instant consumer finance*, with just their Mobile Number and PAN (Permanent Account Number).

The strategic association with Amazon Pay focuses on providing easy credit access and a seamless payment experience to customers, further enhancing their shopping experience this festive season. Shoppers on can now convert their high-value purchase of Electronics, Furniture, Lifestyle, and Apparel into convenient monthly EMIs, without using debit card, credit card, or even UPI.

Key Features:

Instant Approval and Credit: Enjoy instant approval and immediate access to credit, simplifying your online shopping experience.

End-to-End Digital and Secure: Experience a seamless, paperless, secure and hassle-free process with Kotak Bank's digital approach.

Credit Limits up to Rs 5,00,000: Bigger credit limit to fund large-ticket purchases.*

Flexible Repayment Options: Tailor your payments with flexible monthly instalment choices of 3, 6, 9, or 12 months.

Exclusive for Kotak's Pre-Approved Customers: Kotak Cardless EMI is for the bank's pre-approved customers, enhancing their shopping experience.

EMI makes it possible:

New to credit customers showing greater preference for consumer finance as it is a short-term loan which fulfils aspirations, as well as helps build credit history

Consumer finance is one of the most popular product among retail loan offerings

Mr Amit Pathak, Business Head – Consumer Finance, Kotak Mahindra Bank said, “We are seeing Emi-sation of big ticket transactions, with strong interest from new to credit customers. EMI transactions have risen in popularity as they make consumer finance affordable than ever before. Customers prefer to pay in EMI as long as the process or experience is hassle-free. We are making EMI transactions convenient than ever before for our customers with the Cardless EMI payment option on Amazon during the festive season.”

Mayank Jain, Director - Credit and Lending for Amazon Pay India, said, “The introduction of Cardless EMI in partnership with Kotak Bank aims to provide better credit access for customers. This initiative will further enhance the affordability and convenience of online shopping for customers across India, especially during the festive period. At Amazon Pay, we remain committed to innovate and offer convenient, inclusive, affordable and rewarding digital payment for our customers.”

How to pay using Cardless EMI:

Step 1 – On checkout page, in the payment options, under EMI, choose Kotak Cardless EMI and select a tenure

Step 2 – Add your PAN details

Step 3 – Authorise the transaction by entering the OTP

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 Limited

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 30 September 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,850 branches and 3,170 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, visit the company’s website at

About Amazon Pay

Amazon Pay is a trusted, convenient, and rewarding way to pay for anything, anywhere on and off Amazon continues to extend the convenience of Amazon Pay by making it possible for millions of cash consumers to start making digital transactions and support the Government’s vision of encouraging electronic payment, leading to a less-cash society in India. Amazon Pay smoothens the customer experience of online payments at the time of placing orders with the benefit of ‘one-click’ payments leading to a faster and smoother check out process. With its cash-load category, Amazon Pay also solves the pain point of tendering exact amount of cash at the time of delivery.

For more information on Amazon India, visit:

Manipal Marathon 2024: Running For A Cause - Aiming To Break Records with Over 15,000 Participants

The Manipal Academy of Higher Education is thrilled to announce the opening of registrations for the 6th edition of the prestigious Manipal Marathon. Known as one of India's largest student-organized athletic events, the marathon is set to take place in the scenic town of Manipal in Udupi District. This year's event is not just about setting personal bests or enjoying the camaraderie of fellow runners; it's a stride towards raising awareness for the vital field of "Hospice" palliative care, embracing the deeply resonant motto: "We are with you all the way."

The Manipal Marathon has become a beacon of excellence and inclusion, welcoming around 10,000 participants in previous years. For the 2024 event, the organizers are setting an ambitious goal to gather over 15,000 participants from across the country, making it a historic occasion for the marathon and for charitable causes in India.

Event Details:

Date: 11th Feb 2024

Time: 5.00 am onwards

Venue: Manipal, Udupi District

Registration: Open Now at Manipal Marathon Registration []

Race Day Highlights:

Certified race routes showcasing the captivating landscapes of Manipal and the Udupi coastline.

International certification by the IAAF AIMS, ensuring a world-class running experience.

A grand carnival atmosphere post-race, celebrating the spirit of the community.

Attractive prize money for top finishers across various categories.

This landmark 6th edition partners once again with the Udupi District Amateur Athletic Association, and it's poised to be more than just a competition; it's a movement. Every stride taken by the runners is a step forward in supporting "Hospice" palliative care, an essential yet often overlooked component of healthcare that offers comfort and dignity to those at the most critical phases of their lives.

The Manipal Marathon is more than a race. It's a message – of solidarity, awareness, and the relentless human spirit. As participants lace up their running shoes, they will also be amplifying the message of hospice care, ensuring that it echoes with every heartbeat along the route.

Runners of all levels are invited to become a part of this monumental event – from elite athletes to enthusiastic beginners – all united by a common thread of humanity and a shared finish line.

Join us in making the Manipal Marathon 2024 a landmark event for both sports and social awareness. Be part of the change. Be part of the challenge. Be part of the community.

Register now and ensure you're with us all the way! 

Friday, November 10, 2023

Srinivasan Services Trust (SST) Marks National Education Day By Investing in Education Infrastructure And Improving Learning Outcomes

-          Over the last 27 years SST has renovated about 1000 anganwadis and over 800 schools at a cost of Rs.40 crores

-          SST plans to invest Rs. 20 crores in the next three years towards renovation of rural education infrastructure through the Namma School Foundation

-          SST has collaborated with education NGOs to ensure quality education for children

In the pursuit of holistic education, Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram Clayton Ltd., has been a beacon of change, touching the lives of thousands in 2,500 villages. With a focus on early education, primary education, and hygiene in middle and higher secondary schools, SST's initiatives have left an indelible mark.

SST has repaired about 1000 anganwadis and over 800 schools with an objective of providing a safe and congenial environment for children and teachers. SST works very closely with the government and community and renovates anganwadis and schools holistically. SST focusses on the community’s ownership of renovated infrastructure and involvement in successfully delivering the outcomes. Additionally, SST facilitates in conducting medical camps for children in anganwadis and schools.

Sharing his views, Mr. Swaran Singh IAS (R), Chairman, Srinivasan Services Trust, “As we celebrate National Education Day, I am proud to reflect on the transformative journey of Srinivasan Services Trust (SST) in Tamil Nadu. Over the past 27 years, SST has dedicated Rs.13 crores to renovate more than 400 primary schools, ensuring a conducive environment for learning. In the last two years, our focus has shifted towards holistic development, with 100 schools receiving comprehensive renovations. The hygiene facilities in high schools specifically for the girl child is of special focus for SST. Last few years we have provided these facilities in more than 260 schools investing Rs. 12 crores. Through the Namma School Foundation, SST will be investing Rs.20 crores on education for the next 3 years. The engagement of teachers, children, parents, and the community is pivotal in maintaining these upgraded facilities. In remote areas of Javadhu Hills, SST is complimenting the efforts of the government by deploying additional teachers wherever required. SST is committed to creating model schools in each of the districts it works in. SST extends its commitment beyond infrastructure, conducting over 200 medical camps, benefitting over 6,000 children, emphasizing health and hygiene.”

In the past two years, SST has partnered with several organizations like Agastya International Foundation, Villmart, Navsahyog Foundation and Gramalaya possessing extensive expertise and innovative approaches to enhance children's learning outcomes, help develop life-skills and promote health and hygiene. Looking ahead, SST has allocated Rs. 1 crore per year for the next three years to further advance educational partnerships.

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 centered on community participation in all its projects.Today, SST works in ,2500 villages in the country. 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.

Elevate Your Festive Style With Exclusive Dhanteras And Diwali Necklaces By ORRA Fine Jewellery

As the auspicious occasion of Dhanteras and Diwali approaches, the essence of tradition and cultural celebration comes alive in every home throughout the nation. This timeless festival holds profound significance with patrons embracing cultural heritage by investing in the elegance of fine jewellery.

To further enrich the Diwali festivities, ORRA Fine Jewellery is thrilled to introduce two exclusive necklaces, meticulously crafted for the season. These exquisite necklaces not only embody the unwavering commitment to preserve tradition, but also highlight the alluring beauty of modern design. These stunning necklaces are designed to make a bold statement, whether paired with a sequin saree, your Kangivarams, or any festive ensemble. They are sure to captivate and elevate your celebrations to a new level of elegance.

Mr. Dipu Mehta, Managing Director of ORRA Fine Jewellery, shares, "At ORRA, we hold a deep appreciation for the cultural significance of jewellery in India, and our latest additions beautifully blend traditional craftsmanship with contemporary design. These necklaces not only tell a unique story, but cater to individual style and aesthetics, while embracing the spirit of celebration and joy that defines the season."

The collections, whether traditional or contemporary, are meticulously crafted to complement age-old customs, while also satisfying the ever-evolving tastes of cherished customers. In the spirit of Dhanteras and Diwali, where it's customary to purchase jewellery, ORRA has designed plans to suit younger customers, who wish to partake in this meaningful tradition. This season, customers can access stunning collections with tailor-made EMI plans and enjoy exclusive discounts.

As part of Dhanteras & Diwali celebrations, ORRA Fine Jewellery is pleased to extend the following exclusive offers to valued customers:

·       Up to 25% off on diamond jewellery and flat 25% off on making charges of 22KT gold jewellery (for a limited period)

·       0% down payment & 0% interest on EMI facilities

·       100% exchange value on gold jewellery

·       Free Shagun gold coin on every diamond jewellery purchase

*Terms and Conditions apply

About ORRA:

The journey of a million gazes began in 1888 before it meta morphed into ORRA. From sculpting and manufacturing diamonds to crafting and retailing the finest diamond and gold jewellery, ORRA has come a long way since its inception. Today, ORRA is one of India's finest bridal jewellery retail chains, having spread its glow with 84 Stores across 38 Cities and has consistently been at the forefront of design, leadership, and product innovation with 5 global design centers.

Master craftsmen who have inherited the centuries - old legacy of jewellery making, brilliantly cut Belgian diamonds, delicate designs in diamond jewellery, elaborate bridal sets in coloured stones, the 73-facet patented ORRA Crown Star, the one-of-its-kind ORRA store. These are just some of the facets that go into making ORRA - The Finest Diamond Destination.

For more information, visit –

Toyota Technical Training Institute Expands To Enhance Inclusivity And Diversity

In a significant step towards supporting the "Skill India Mission," Toyota Kirloskar Motor (TKM) today, announced the expansion of its Toyota Technical Training Institute (TTTI ) in Bidadi. This marks the success of its existing programs and TTTI’s strong commitment to empower the rural youth of Karnataka with the skills and knowledge for transforming them into  world class technicians thereby ensuring growth, employment, and development of society.

The event was graced by Shri D K Shivakumar, Hon’ble Deputy Chief Minister, Dr. Sharanaprakash Rudrappa Patil, Hon’ble Medical Education & Skill development, Entrepreneurship and Livlihood Minister, Shri D K Suresh, Hon’ble Member of Parliament, Loksabha, Bangalore Rural Constituency, Shri H C Balakrishna, Hon’ble Member of Legislative Assembly, Magadi Constituency, Shri Mankal S Vaidya, Hon’ble Minister of Fisheries, Ports and Inland Transport, Government of Karnataka along with Shri Swapnesh R Maru, Executive Vice President and Chief Compliance Officer, Shri Sudeep S Dalvi, Senior Vice President, Director and Chief Communication Officer, G Shankara, Senior Vice President and Chief Human Resource Officer, TKM.

TTTI, well-known for its comprehensive curriculum and unwavering commitment to the  development of its students, is now doubling its intake from 600 to 1200 students which will include upto 600 female students, providing opportunities for students  from economically challenging backgrounds and rural areas in Karnataka, with a steadfast focus on enhancing gender diversity as a pivotal component of its expansion. Alongside its existing 3-year regular course, TTTI has also introduced the Toyota Kaushalya 2-year course under the "Learn & Earn” approach to further promote skill development, employment opportunities, and inclusive participation. The increase of intake of students has resulted in the enhancement of infrastructure like residential facilities including exclusive accommodation for female students, new class rooms, and equipments for enhanced skill training which will further provide ideal environment for holistic learning and development of the students at TTTI.

Mr. G. Shankara, Senior Vice President & Chief Human Resource Officer, TKM & TKAP, expressing his thoughts, said, “TTTI has always strived to provide a platform for the youth to acquire advanced skills and knowledge, and this expansion is a testament to our commitment to reach out to more students from economically challenging backgrounds, promote diversity, and skill development. Our comprehensive curriculum enhances learning opportunities  while fostering an inclusive learning environment. We look forward to witnessing the positive impact on society and contributions from our students who are equipped to work and perform not only within the state or the country but also at a global level. Currently we have trained close to 1000 students who have demonstrated excellence in their skill sets, acquiring knowledge that is crucial for the growth of the automotive industry. The success of TTTI's programs, is illustrated  by our students excelling in their careers, which has been a source of immense pride for us.”

Since its inception in 2007, TTTI has been committed to providing advanced technical education and fostering overall development among rural youth. The planned increase in student intake reinforces TKM’s commitment to empowering economically challenged students, creating world-class technicians, enhancing societal development, and employment. One of the recent initiatives to promote admission of female students, 'Toyota Kaushalya,' has been well-received by students. It offers a unique opportunity for youth to acquire skills relevant to the manufacturing industry,  combining theoretical learning with on-the-job training (OJT) enhancing their employability. Furthermore, many of our employees after been trained at TTTI and TKM get the opportunity to be trained in Japan to gain hands on experience in global environment.

TTTI proudly promotes inclusivity by providing free training to economically challenged students. The students have achieved remarkable feats in prestigious competitions like the India Skills and World Skills contests, bringing immense pride to the nation. The residential training program offered by TTTI plays a crucial role in the holistic development of our students, encompassing knowledge, skills, physical fitness, and mental abilities. In addition, TKM has taken efforts to replicate and promote manufacturing work culture in government institutes like Industrial Training Institutes ( ITIs ) and Govt Tool Room and Training Centres (GTTCs).

The Next Level Of Laundry Care: LG's WashTower Debuts In India

LG Electronics, India’s leading consumer durable brand, announced the official launch of the LG WashTower in the Indian market today. The WashTower is a testament to LG's commitment to redefining the way we do laundry, introducing a unibody design that seamlessly combines both hardware and software, promising to redefine the laundry experience for Indian households. Available in a compact size (600 mm x 1655 mm x 660 mm) (W x H x D), the LG WashTower presents an ideal solution tailored to suit a diverse range of living spaces

The LG WashTower features an innovative unibody design that redefines laundry appliances, bringing together cutting-edge hardware and software to provide an exceptional laundry experience. The Center Control Panel, ensures easy access and control for users. This ergonomic design not only maximizes space utilization but also enhances the aesthetic appeal of your laundry area. The LG WashTower is available in Green/Beige colour combination.

Commenting on the launch, Mr. Hong Ju Jeon, MD- LG India, said, "The LG WashTower is a remarkable milestone in the world of laundry solutions. It seamlessly combines hardware and software, offering a laundry experience that's not only efficient but also space-saving and visually appealing. With its AI-driven technology, the WashTower takes the guesswork out of laundry, ensuring that your clothes are handled with the utmost care."

The WashTower is equipped with advanced intelligence features that streamline your laundry tasks. AI DD® (Auto Sense AI DD®) technology identifies the most suitable washing pattern for your clothes, providing them with the utmost care. The ‘Prepare to Dry’ option, combined with Quick Wash and Quick Dry, completes laundry in just one hour, adding an extra layer of convenience to the daily routine.

LG WashTower also offers an advanced cleaning experience like no other. With the TurboWash360™ feature, laundry can be thoroughly cleaned in a mere 39 minutes*[1], ensuring clothes remain fresh and vibrant while saving time. LG Allergy Care cycle reduces house dust mites, providing a new level of confidence and comfort in wearing freshly clean & completely dried clothes.

 Moreover, the Smart Pairing™ feature ensures that the dryer's cycle automatically syncs with the washer's settings, making the transition from washing to drying a seamless process.

LG WashTower is a game-changer in the Indian laundry industry, combining innovative design, intelligent features, and advanced cleaning capabilities. This revolutionary laundry solution provides the ultimate space-saving and efficient laundry experience, all while enhancing the aesthetics of your home. The MRP of the LG WashTower is Rs 2,75,000.

About LG Electronics Home Appliance & Air Solution Company 

The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more news on LG, visit

Emirates Group Announces Record Half-Year Performance For 2023-24

* Group: Record half-year profit of AED 10.1 billion (US$ 2.7 billion), up 138% from the same period last year, driven by strong demand for international travel across regions. Revenue up 20% to AED 67.3 billion (US$ 18.3 billion).

* Emirates: Revenue up 19% to AED 59.5 billion (US$ 16.2 billion), with profit of AED 9.4 billion (US$ 2.6 billion), up 134% compared to the same period last year.   Performance reflects airline’s ability to serve strong demand across regions with capacity ramp up, and win customers with ongoing investments in products and services.   

* dnata: Revenue increased by 27% to AED 9.3 billion (US$ 2.5 billion) as operations ramp up, with profit of AED 709 million (US$ 193 million), up 200% compared the same period last year.

The Emirates Group today announced its best-ever six-month financial result. The Group is reporting a 2023-24 half-year net profit of AED 10.1 billion (US$ 2.7 billion), surpassing its record half-year profit of AED 4.2 billion (US$ 1.2 billion) last year by 138%.

The Group also reported an EBITDA of AED 20.6 billion (US$ 5.6 billion), a significant improvement from AED 15.3 billion (US$ 4.2 billion) during the same period last year, illustrating its strong operating profitability.

Group revenue was AED 67.3 billion (US$ 18.3 billion) for the first six months of 2023-24, up 20% from AED 56.3 billion (US$ 15.3 billion) last year. This was driven by strong demand for air transport across the world, which has been on an upward trajectory since the last pandemic travel restrictions were lifted. 

The Group closed the first half year of 2023-24 with a solid cash position of AED 42.7 billion (US$ 11.6 billion) on 30 September 2023, compared to AED 42.5 billion (US$ 11.6 billion) on 31 March 2023. The Group has been able to tap on its own strong cash reserves to support business needs, including debt payments. So far, Emirates has repaid AED 9.2 billion of its COVID-19 related loans. The Group also paid AED 4.5 billion in dividend to its owner, as declared at the end of its 2022-23 financial year.

His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “We are seeing the fruition of our plans to return stronger and better from the dark days of the pandemic. The Group has surpassed previous records to report our best-ever half-year performance. Our profit for the first six months of 2023-24 has nearly matched our record full year profit in 2022-23. This is a tremendous achievement that speaks to the talent and commitment within the organisation, the strength of our business model, and power of Dubai’s vision and policies that has enabled the creation of a strong, resilient, and progressive aviation sector.

“Across the Group, we’ve continued to ramp up operations safely and move nimbly to meet customer demand. We’ve implemented a series of service and product enhancements to win customer preference, and we’ll continue to invest in our people, products, partnerships, and technology to strengthen our capabilities and ensure we are future ready.”

HH Sheikh Ahmed added: “For the second half of 2023-24, we expect customer demand across our business divisions to remain healthy and we will stay agile in how we deploy our resources in this dynamic marketplace. At the same time, we are keeping a close watch on headwinds such as rising fuel prices, the strengthening US dollar, inflationary costs, and geo-politics.”

To support increased operations and business activities, the Emirates Group’s employee base, compared to 31 March 2023, grew 6% to an overall count of 108,996 on 30 September 2023. Both Emirates and dnata have ongoing recruitment drives to support their future requirements.

Emirates airline

Emirates continued to increase its global flight operations, adding capacity and connections through its Dubai hub to meet customer demand across markets. During the first half of 2023-24, the airline restored A380 operations to Bali, Beijing, Birmingham, Casablanca, Nice, Shanghai, and Taiwan.

In July, it launched daily non-stop services to Montreal, a new destination and the airline’s second gateway in Canada.

Expanding connectivity options for customers, Emirates entered and enhanced codeshare or interline agreements with 8 airlines in the first six months of 2023-24: Aegean Airlines, Air Canada, Etihad Airways, Kenya Airways, Philippine Airlines, Maldivian, Sri Lankan Airlines, and United Airlines. The codeshare partnership between Emirates and Qantas, which has seen over 15 million travellers benefit from joint flight itineraries since its establishment in 2013, received approvals for a further 5-year extension until 2027.

By 30 September, the airline was operating passenger and cargo services to 144 airports, utilising its entire Boeing 777 fleet and 104 A380s. During the first six months of 2023-24, 10 A380 aircraft rolled out of Emirates’ retrofit programme with completely refreshed cabin interiors and latest onboard products including Premium Economy seats. This enabled the airline to deploy its highly sought-after Premium Economy services on more new routes including New York JFK, Houston, San Francisco, Los Angeles, and Singapore.

In the first half of 2023-24, Emirates launched a new global brand advertising campaign featuring Hollywood actor Penelope Cruz; and introduced initiatives to enhance customer travel experience including: a new city check-in facility at Dubai International Financial Centre, free onboard wi-fi for Emirates Skywards members, and a new meal pre-ordering capability for customers to select their meal options in advance of travel.

Overall capacity during the first six months of the year increased by 25% to 28.5 billion Available Tonne Kilometres (ATKM) due to an expanded flight programme. Capacity measured in Available Seat Kilometres (ASKM), increased by 30%, whilst passenger traffic carried measured in Revenue Passenger Kilometres (RPKM) was up by 35% with an average Passenger Seat Factor of 81.5%, compared with 78.5% during the same period last year.

Emirates carried 26.1 million passengers between 1 April and 30 September 2023, up 31% from the same period last year. Emirates Skycargo uplifted 1,035,000 tonnes in the first six months of the year, an 11% increase compared to the same period last year despite an overall softening in the global cargo market. This reflects the cargo division’s ability to meet customer demand with specialised products, and the excellent network options on offer with its freighter and bellyhold cargo operations.

Emirates profit for the first half of 2023-24 hit a new record of AED 9.4 billion (US$ 2.6 billion), compared to same period last year’s profit of AED 4.0 billion (US$ 1.1 billion). Emirates revenue, including other operating income, of AED 59.5 billion (US$ 16.2 billion) was up 19% compared with the AED 50.1 billion (US$ 13.7 billion) recorded in the same period last year. The airline’s record performance is attributable to the strong passenger demand for international travel across markets and Emirates’ ability to activate capacity to match demand; and offer customers great value and services.

Emirates’ direct operating costs (including fuel) grew by 9% in line with increased operations. Fuel remains the largest component of the airline’s operating cost (34%), compared to 38% in the same period last year.

Driven by strong demand and increased operations during the six months, Emirates’ EBITDA grew by 33% to AED 19.5 billion (US$ 5.3 billion) compared to AED 14.7 billion (US$ 4.0 billion) for the same period last year.


dnata continued to ramp up operations across its cargo and ground handling, catering and retail, and travel services businesses. This drove strong revenue growth in the first six months of 2023-24.

In the first half of 2023-24, dnata’s catering and airport services won significant new contracts and grew existing customers across its international operations. This shows dnata’s ability to serve the growing operations of airline customers, and deliver high quality products and services despite lingering operational challenges in many markets such as a shortage of skilled workforce, supply chain issues, and inflationary pressures.

dnata also continued to make strategic investments in its business and implement innovative technology and other initiatives to better respond to customer needs. Highlights in the first half of 2023-24 include: the acquisition of an additional 29% stake in Imagine Cruising, bringing to 81.4% its shareholding in UK’s leading cruise and stay holiday distributors; the implementation of AI-powered solutions to enhance dnata’s cargo handling operations and capabilities in Singapore; and the switch to a biofuel blend for road transport vehicles in the UAE used by dnata Logistics, Arabian Adventures, Alpha Flight Services, and City Sightseeing to reduce emissions and address rising customer expectations for transport options with lower environmental footprint.

dnata’s revenue, including other operating income, of AED 9.3 billion (US$ 2.5 billion) increased by 27% compared to AED 7.3 billion (US$ 2.0 billion) generated in the same period last year.

Overall profit for dnata is AED 709 million (US$ 193 million), compared to same period last year’s AED 236 million (US$ 64 million).

dnata’s airport operations remains the largest contributor to revenue with AED 4.1 billion (US$ 1.1 billion), an 18% increase compared to the same period last year, as its airline customers’ operations continued to pick up particularly in Australia, Singapore, UK, and the UAE.  Across its operations, the number of aircraft turns handled by dnata increased by 11% to 384,656, and it handled 1.3 million tonnes of cargo, down by 5% reflecting further softening of the global air freight market after a pandemic-driven surge.

dnata’s flight catering and retail operations, contributed AED 3.5 billion (US$ 942 million) to its revenue, up 45% with strong production increases in Australia, Italy, UK, and the US to meet customer demand. The number of meals uplifted increased by 31% to 66.3 million meals compared to last year’s 50.5 million meals.

dnata's travel division contributed AED 1.4 billion (US$ 375 million) to revenue, up 16% compared to AED 1.2 billion (US$ 323 million) for the same period last year. dnata saw strong contributions from Destination Asia, its destination management business in Asia; and from its cruise holidays business, Imagine Cruising, in which dnata has acquired controlling interest. The division reported an underlying total transactional value (TTV) sales of AED 4.0 billion (US$ 1.1 billion), compared to AED 3.5 billion (US$ 960 million) for the same period last year.

About Emirates

Emirates’ 37 years in India have been defined by progressive investment, partnership and growth. In October 1985, Emirates launched flights from Dubai to Delhi and Mumbai which formed the base of its initial route network. Since then, Emirates has grown its India operations to serve a total of nine destinations across India – Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai, and Thiruvananthapuram. For more information on Emirates’ current operations, network, travel support, guidance, customer and employee safety, visit

Air India Now Provides Air-Rail Connections Across 5600 Train Stations In Germany On Deutsche Bahn

·         Travel to Frankfurt with Air India and take train connections across Germany with Deutsche Bahn on a single ticket

·         Air India guests enjoy benefit of the same baggage allowance on Deutsche Bahn as offered by Air India on its own flights

Air India, India’s leading global airline, has entered an intermodal interline agreement with WorldTicket, the exclusive distributor for Europe’s largest railway operator, Deutsche Bahn.

The collaboration enables Air India guests to travel on a single intermodal ticket beyond Frankfurt with convenient train connections to or from other cities and towns across Germany, including those without airports, on Deutsche Bahn. This lets travellers to connect to and from over 5600 train stations in Germany on the Deutsche Bahn network. Travellers can also take train connections on Deutsche Bahn to and from Amsterdam, Brussels, and Zurich via Air India’s Frankfurt gateway. WorldTicket is an IATA travel partner with its own AOC-holding airline, FlexFlight, bearing designator code W2, thus making intermodal journeys on a single ticket possible.

The partnership with WorldTicket for Deutsche Bahn also allows Air India guests to enjoy the benefit of the same baggage allowance on the rail routes as offered by Air India on its own flights.

Nipun Aggarwal, Chief Commercial & Transformation Officer, Air India, said, “While we continue to expand our own route network globally, such partnerships help us to provide an extended network to our guests, and make journeys to their final destinations more convenient. We observe substantial passenger traffic on our Frankfurt flights that further connects to and from other German cities and towns, and this partnership addresses the needs of an increasing number of such guests. We are delighted to be working with WorldTicket and Deutsche Bahn in this effort.”

Air India recently entered another similar intermodal partnership to provide guests easy access to an extensive network of rail and bus operators in the UK, Italy, Austria, Belgium, and the Netherlands.

Currently, intermodal tickets with Air India are available for booking through travel agents globally. The airline also plans to extend the facility to its own sales channels progressively.

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has built an extensive domestic network with non-stop flights to cities around the world, across the USA, Canada, UK, Europe, Far-East, South-East Asia, Australia, and the Gulf. After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022.

Air India is navigating through a major five-year transformation roadmap under the aegis of Vihaan.AI, with an ambition to become a world class airline with an Indian heart. The first phase of this transformation, the taxi phase was recently concluded, and focused on fixing the basics. These included bringing back to service many long grounded aircraft, addition of talent across flying and ground functions, rapid upgradation of technology and strengthening of customer care initiatives amongst others. 

A member of Star Alliance, the largest global airline consortium of leading international airlines, Air India offers seamless connectivity and facilities to passengers all over the world.

ELGi Wraps Up The 5th Edition Of #WhatsYourFinishLine On November 5, 2023

* Witnessed participation from 154 global teams across 26 countries

Contributes to the fight against climate change by planting a tree on behalf of every participant, ensuring they make a positive impact on the planet with every step taken

Bengaluru, November 9, 2023: Elgi Equipments (BSE: 522074 NSE: ELGIEQUIP), one of the world's leading air compressor manufacturers, concluded the fifth edition of its annual #WhatsYourFinishLine challenge. The 21-day-long fitness challenge ended on November 5, 2023, bringing together 1644 employees and channel partners across the globe with the shared objective of advocating for comprehensive wellness and a lifestyle focused on health.

This year, as an expression of its dedication to a greener environment, ELGi implemented the 'Green Champion' program, ensuring every participant is rewarded with the planting of a mahogany tree. Close to two thousand neem or mahogany trees will be planted later this month in Appanaickenpatti, Coimbatore. It is estimated that these carbon storage heroes will sequester approximately 13200* metric tons of carbon dioxide equivalent as they grow over the next decade.

The 5th edition of the #WhatsYourFinishLine challenge saw 154 teams with participants from 26 countries collectively log 225.5 million steps via running, walking, and jogging. The challenge also focused on providing participants with a holistic view of their fitness journey, i.e., mood tracking, hydration monitoring, and mindfulness sessions, aside from interactive lifestyle improvement and wellness sessions led by award-winning Holistic Nutrition – Integrative and Lifestyle Medicine Expert, Luke Coutinho, and Dr. Almos Sajjath, an ISSA-certified health, and fitness consultant.

Later this year, Elgi Equipments will power the 11th edition of the Coimbatore Marathon 2023, which is scheduled to be held on December 17, 2023.

*Based on data from the World Agroforestry Centre's "Agroforestree Database," the sequestration amount is estimated at 13,200 metric tons of carbon dioxide equivalent (tCO2e) over ten years for close to 2000 mahogany trees. This calculation is made under the assumption that the typical tree height is 15 meters, and the diameter can reach up to 90 centimeters.

Penquin To Publish The Extraordinary Journey Of One Of India's Largest Homegrown Jewellery Brand - Kalyan Jewellers

The autobiography of the iconic businessman, T.S. Kalyanaraman, the founder of Kalyan Jewellers, The Golden Touch, is set to be released across India in end November. It captures the inspirational journey of the man, who started his empire at the age of 46. Published by Penguin Random House India under Penguin Business imprint, it is currently on pre-order on e-commerce platforms.

The Golden Touch narrates an extremely personal account of the visionary with humble beginnings from Thrissur who set up one of the largest jewellery stores in the country—a Rs 25,000 crore behemoth employing over 8,000 people. It traces Kalyanaraman's journey as an entrepreneur, touching upon his family's business legacy that dates back to 1912 and moving forward to his personal experience of creating the brand -  Kalyan Jewellers. He offers an elaborative perspective on daring to dream big, overcoming obstacles and building a successful homegrown business empire in a global environment.

Expressing his thoughts, T.S. Kalyanaraman said, ‘Through The Golden Touch, I intended to unveil the essence of Kalyan Jewellers' narrative. This autobiography reflects my journey and the perseverance intrinsic to Indian entrepreneurship. I hope that readers find inspiration in the story of a small-town dreamer turned entrepreneur. The Golden Touch stands as a testament to the limitless possibilities in the world of Indian enterprise.’

Radhika Marwah, Executive Editor, Penguin Random House India, said, ‘Kalyan Jewellers is a ubiquitous brand, synonymous with festivity and value. It is a great pleasure to bring out the fascinating journey of how this behemoth was built and helmed by the inspiring figure of Mr Kalyanaraman.’

A hardcover priced at INR 699,  The Golden Touch, is the perfect read for entrepreneurs and dreamers.


T.S. Kalyanaraman is the Managing Director of Kalyan Jewellers India Limited & Chairman of Kalyan Developers. 

This Diwali, Upgrade Your Homes With Croma Branded Home Gadgets!

Diwali, the festival of lights, is a time of big celebrations where everyone desires to upgrade their homes. From small appliances to large appliances, Croma's product offerings are meticulously curated to make your Diwali shopping truly special. Croma Own Label's range of products has seen massive growth over the past few years. Croma currently has 400+ products in the Own Label category that use the latest technology and are curated by in-house experts with competitive pricing.

Check out these offers on and Croma stores -

·         On the website, get an instant 10% off up to Rs 2000 on HDFC and ICICI CC/DC

·         On & store, there is a no Cost EMI up to 12 Months on major banks

·         In Stores,

o   shop for worth ?3,000 and get 500 off on all Croma audio above 1000/-

o   Buy Croma Side-By-Side Refrigerator & Get Croma 45L Direct Cool Refrigerator Free*

o   Buy Croma Washing Machine & Get Croma 2000W Steam Iron Free*

Let's explore the Croma Own Label products that are feature-packed, affordable, and will help you upgrade your lifestyle:

Croma 4 in 1 Convertible 1.5 Ton 5 Star Inverter Split AC with Dust and PM 2.5 Filter (Copper Condenser, CRLA018INF170256)_1Croma 5 Star Inverter AC - Buy the latest Croma 5 Star Inverter AC, which boasts of design and features at ?40,990. This 4 in 1 Convertible 1.5 Ton 5 Star Inverter Split AC is self-cleaning and self-diagnosing, making maintenance hassle-free. In response to today's needs, it offers dual-filtration, with the PM 2.5 Filter capturing germs and the Dust Filter featuring Antivirus Protection to ensure clean air. Four convertible modes, an eco-friendly R32 refrigerant, and an inverter rotary compressor provide energy-efficient cooling. The copper coil enhances performance, and the nano shield coating prevents corrosion. Order now!

Croma's 50-inch 4K UHD Smart TV - Experience vibrant visuals starting at ? 34,990*. Upraise your viewing experience Diwali in full glory with Croma's 50-inch 4K UHD Smart TV. Its LED display boasts a resolution of 3840 x 2160 pixels and a smooth 60 Hz refresh rate, delivering stunning clarity. The 20W speaker, supported by Dolby Audio, complements the visuals perfectly. A quad-core processor ensures smooth navigation, backed by 2GB of RAM and 16GB of internal storage. The sleek bezel-less design and hands-free voice control via Google Assistant enhance the experience. Dual-band Wi-Fi guarantees a smooth online experience. Revamp your festive joy with a fresh and exciting approach to your TV experience.

Croma 563 Litres Frost Free Side by Side Refrigerator with Multi Airflow System (CRAR2651, Black Inox)_1Croma 563 Litres Side by Side Refrigerator (CRAR2651, Black Inox) - With a generous 563-liter capacity, this floor-standing refrigerator ensures spacious and organized storage. The Multi Airflow System maintains consistent cooling, while the sleek Black Inox finish adds a touch of style to your kitchen. Its front adjustable legs ensure stability on any floor, and it's eco-friendly with Cyclopentane as the foaming agent. Upgrade your kitchen with this stylish and efficient side-by-side refrigerator.

Get ease and convenience with the Croma 8/6 kg Fully Automatic Front Load Washing Machine. This innovative appliance functions as a front-loading washer, dryer, or washer/dryer, adapting to your laundry needs. It's designed for quiet yet efficient performance, thanks to strong magnets that reduce energy consumption. It ensures the removal of stains and enhances detergent performance.

Croma 50W Portable Party Speaker – Host great parties with speaker that delivers a powerful 50W output, ensuring your music is loud and clear. It offers versatile connectivity options, including Bluetooth, USB, Aux, and Memory Card, making it easy to play your favorite tracks. The speaker's built-in LED lights sync with the music, adding a visual element to your party. With easy on-device controls, you can manage both your music and lighting. Plus, it's lightweight and easy to carry, perfect for on-the-go celebrations. With up to 5 hours of playtime, this speaker will keep the party going without interruptions. Get ready to take your gatherings to the next level with this essential party companion.

Croma 200W Soundbar with Remote (Wireless Subwoofer, 2.1 Channel, Black)_1Croma 200W Soundbar with Remote (Wireless Subwoofer, 2.1 Channel, Black)- Elevate your audio experience at ?10,990*, boasting a powerful 200W audio output, it immerses you in exceptional sound quality, enhancing your festive celebrations. The included wireless subwoofer delivers rich bass, elevating the highs and lows for a complete listening experience. With versatile connectivity options, including Bluetooth v5.3, Aux, USB, HDMI ARC, and Optical Input, it seamlessly integrates with various devices. Its metallic design complements the festive setting, whether wall-mounted or standing. Plus, the convenient remote control ensures an effortless and enjoyable user interface. Upgrade your Diwali audio setup today!

Croma Foot Massager (Shiatsu Massage Therapy, Warm Function, CRSH036MRA028201, Rubber Grey)_1Croma Foot Massager- Designed to cater to your relaxation and pain relief needs at just ?11,990*. Crafted from durable polycarbonate material, it guarantees long-lasting performance. The indicator lights display your selected mode and function for added user-friendly convenience. With a 10-minute auto timer option, you can unwind with peace of mind. The air pressure function promotes deep muscle relaxation, enhances circulation, and relieves tension. Order the Croma Foot Massager online for a soothing massage experience this Diwali.

Croma 1200 Watts Dry Vacuum Cleaner - Effortless cleaning starting at just ?4190.00*. Clean your house this Diwali in no time with the help of Croma 1200 Watts Dry Vacuum Cleaner. This powerful vacuum cleaner has a suction capacity of 140W. It also has a 1.5-liter dust cup tank, which means you can clean it for longer without having to empty it. The vacuum cleaner is also equipped with a 5-meter-long cord, which gives you plenty of reach.

Croma 3 Jars Mixer Grinder - A Kitchen Essential at only ?1,399*. The kitchen is the heart of every Diwali celebration, and Croma 500 Watts 3 Jars Mixer Grinder, which comes with wet grinding, dry grinding, and blending functions, is a must-have kitchen companion to whip up delectable sweets or prepare some savory dishes.

Croma 23L Convection Microwave Oven with LED Display (Black)_1Croma 23L Convection Microwave Oven with LED Display - Make your Diwali meals special at just ?9,990*. When you're on the hunt for the perfect oven with top-notch components, your Diwali shopping should include the Croma 23 Litres Convection Microwave Oven. With its generous 23 liters capacity, it's an ideal choice for a medium-sized family. Whether it's cooking, heating, defrosting, or grilling, this appliance has you covered. Don't miss the opportunity to enhance your Diwali shopping by adding the Croma 23 Litres Convection Microwave Oven to your cart. Get the best for your Diwali celebrations today!

Croma 25 Litres 5 Star Storage Water Geyser (2000 Watts, CRLH25LGYF254205, White)Croma 25 Litres 5 Star Storage Water Geyser- Get winter ready with geysers, available from just ?8,490.00*. Designed to handle up to 8 bars of water pressure, this geyser ensures efficient and reliable hot water delivery.  As the winter is upon us, this geyser with a power rating of 2000 Watts, delivers a reliable and consistent supply of hot water. You can count on it to meet your needs, whether it's for showers, washing dishes, or other household tasks.

*T&C applied

Mahindra Logistics Launches Services On ONDC Network In India

Mahindra Logistics Limited, one of India's leading integrated third-party logistics service providers launches services on ONDC Network and commences its operations. Mahindra Logistics will provide same-day & next-day intra-city pick-up and delivery services to all sellers on ONDC. The company will extend this to a full range of services including inter-city express parcel, full truck load and mobility services. Sellers on the ONDC network will have access to Mahindra Logistics’ entire range of services enabling intra-city and inter-city delivery in up to 19,000 pin codes.

Efficient logistics is a key enabler for members on the ONDC network. Mahindra Logistics’ services provide a full stack of technology, providing D2C brands and sellers with rapid integration and fulfilment services. As part of this initiative, Mahindra Logistics is also committed to collaborating with other members of the ONDC Network in providing solutions to empower local businesses.

Commenting on this integration, Mr. Rampraveen Swaminathan, MD & Chief Executive Officer, Mahindra Logistics Ltd., said, "ONDC is a path breaking attempt program to empower and democratize local commerce. Efficient logistics is a key enabler to harnessing the full potential of ONDC and we are pleased to join the network. We share ONDC’s vision of accelerating commerce and are pleased to partner with them on a range of services. We provide customers a range of hyper-local and inter-city transport and mobility solutions and technology integration with their end customers.  Our aim to accelerate commerce by delivering innovative logistics solutions on the platform will ultimately benefit both, businesses and consumers.”

T Koshy, MD & CEO, ONDC, said, “Logistics is a key element for the successful adoption of ecommerce across the country. Especially, for small and medium enterprises this will be a key enabler for enhancing their reach. With a major player like Mahindra Logistics coming onboard onto ONDC Network, it will add significant logistics options across the country for diverse merchants that are part of the ONDC ecosystem''.

ONDC has created an Open Network for seamless logistics operations, opening up opportunities for increased business, better capacity utilization, and a stronger brand presence. This collaboration aligns with the Indian government's vision of promoting a fair and open digital commerce network.

About Mahindra Logistics

Mahindra Logistics Limited is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. Mahindra Logistics serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customised and technology enabled solutions that span across the supply chain and people mobility services. 

For more information, visit

About ONDC:

Incorporated on December 31, 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, to create a facilitative model that revolutionizes digital commerce, giving greater thrust to the penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable open Networks.

Virtusa Supports Restoration Of Iconic “B.J.P.C Institution, Preserving Mumbai's Cultural Legacy”

Virtusa Corporation, a leading provider of digital engineering, and technology services through its philanthropic arm, Virtusa Foundation, is pleased to announce the successful completion of the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) Heritage School Restoration Project. The restoration of this iconic institution not only preserves a vital piece of history but also underscores Virtusa's commitment to fostering education, empowering future generations, and contributing to a sustainable environment.  

Furthermore, Swwapnil Joshi, renowned actor and an esteemed alumnus of the B.J.P.C.I, graced the event with his presence. In addition, Santosh Thomas, Chief Executive Officer and Executive Director, Virtusa Corporation, Amit Bajoria, Chief Finance Officer, Virtusa Corporation, Ram Meenakshisundaram, Chief Technology Officer, Virtusa Corporation, and the B.J.P.C.I trustees together unveiled the captivating Coffee Table Book – “Unwrapping The Story of a Landmark Restoration,” making the event a truly exceptional and meaningful occasion. 

At the event, Santosh Thomas, Chief Executive Officer and Executive Director of Virtusa Corporation, emphasized, "It has been a great privilege for Virtusa to collaborate with the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) in the restoration of this historic structure. As a company that believes strongly in social responsibility, this project aligns with our corporate sustainability ethos." 

He continued, "The Virtusa Foundation has built a comprehensive program to foster access to education for over 15 years. These initiatives have benefitted over 20,000 students. Today, with the restoration of this 132-year-old beautiful structure, we are able to mark another milestone in this mission that will benefit students and society for generations. The opportunity to support the restoration of this iconic building and preserve a piece of history that will provide opportunity to young minds will always be cherished. It has been an honour to help the B.J.P.C.I safeguard this mission so that the dreams of countless students can be fostered for years to come." 

Founded in 1891, the B.J.P.C.I holds an esteemed position in the annals of Mumbai's cultural and educational history. Nestled at 33, M. Karve Marg, this architectural masterpiece stands as a cornerstone of the city's rich heritage. The B.J.P.C.I is recognized as a heritage structure in Mumbai and was the recipient of The Urban Heritage Award in 1993 for being the "Best Preserved Monumental Building". 

Key highlights of the B.J.P.C Institution and the restoration project include: 

Historical Significance: With a legacy spanning 132 years, the B.J.P.C.I stands as one of Mumbai's oldest educational institutions, making significant contributions to the city's academic landscape. 

Architectural Marvel: The institution's heritage building, designed by Master Architect Khan Bahadur Muncherji C. Murzban follows the Gothic Revival style and boasts unique teakwood screens and coloured glass elements. 

Academic Excellence: The B.J.P.C.I offers a comprehensive educational program spanning from kindergarten to senior classes, serving over 1400 students. The institution consistently maintains an impressive 100% success rate in board exams, which stands as a testament to its steadfast commitment to academic excellence. 

Amit Bajoria, Chief Finance Officer, Virtusa Corporation, echoed this sentiment, said, "Revitalizing a heritage school like the Byramjee Jeejeebhoy Parsee Charitable Institution (B.J.P.C.I) not only preserves its rich legacy but also empowers future generations." 

He further added, "Our participation in this initiative has brought us great satisfaction, and the accomplishment strongly aligns with the core pillars of the Virtusa Foundation: enhancing access to education, preserving our environment, and empowering society." 

Rustom N.B, Trustee of The B.J.P.C institution, expressed gratitude, said, "Virtusa, our collaborators, have generously financed the restoration and renovation of the building. Their patience and timely input of funds made the difference between old and the freshly renovated appearance of our building. This building is a rarity in our city, and we are happy and honoured to say it will be sent as an entry for the UNESCO Heritage award by our architect. A resounding thanks to Virtusa Corporation from the trustees, staff, and students of The B.J.P.C.I." 

Through strategic partnerships and active community engagement, the Virtusa Foundation is dedicated to addressing societal challenges while paving the way for a brighter future. Virtusa employs an "Engineering First" approach to creative problem-solving, which empowers individuals and communities to enhance social outcomes for all. This approach is what Virtusa refers to as "Engineering with Purpose." 

About Virtusa: 

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries. 

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption. 

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders. 

Photo Caption:  Mr. Rustom N.B, Trustee of the BJPC Institution and Mr. Santosh Thomas, Chief Executive Officer and Executive Director, Virtusa Corporation unveiling the coffee table book at the successful completion of the restoration project of the Institution.

Muthoot Finance Performance Highlights For Half Year Ended September 30, 2023

* Historic Highest Growth in Loan Assets of Rs. 11,771 crores in H1FY24, up by 21% YoY 

* Historic Highest Growth in Gold Loan Assets of Rs. 11,016 crores in H1FY24, up by 20% YoY

* Consolidated Loan Assets Under Management stood at Rs. 79,493 crore, up by 24% YoY

* Consolidated Profit after Tax stood at Rs. 2,140 crore for H1FY24, up by 24% YoY

* Standalone Loan Assets Under Management stood at Rs. 69,002 crore, up by 21% YoY

* Standalone Profit after tax stood at Rs. 1,966 crore for H1 FY24, up by 18% YoY

Other Key Highlights:

* Opened 331 new branches by the Group in H1FY24

* Raised Rs. 700 crores through the 32nd Public Issue of Secured Redeemable Non-Convertible Debentures which was oversubscribed on the first day of the issue

A meeting of the Board of Directors of Muthoot Finance Ltd. was held today to consider and approve the unaudited standalone and consolidated results for the quarter ended September 30, 2023.

Consolidated Results of Muthoot Finance Ltd

Muthoot Finance Ltd Consolidated Loan Assets under management grew 24% YoY to Rs. 79,493 crores as at H1 FY24 as against Rs. 64,356 crores last year. During the quarter, Consolidated Loan Assets under management increased by Rs. 2,694 crores i.e. an increase of 4% QoQ. Consolidated Profit after tax for H1 FY24 stood at Rs. 2,140 crores as against Rs. 1,727 crores last year, an increase of 24% YoY. Consolidated Profit after tax for Q2 FY24 increased by 21% YoY at Rs. 1,095 crores as against Rs. 901 crores in Q1 FY23.

Mr. George Jacob Muthoot, Chairman, The Muthoot Group said “Muthoot Finance continues its growth journey delivering 24% YoY consolidated loan AUM growth reaching Rs.79,493 crores and 24% YoY growth in consolidated profit after tax of Rs.2,140 crores for first half of FY 2024. This was aided by strong growth in gold loan portfolio of Rs.11,016 crores and  microfinance loan portfolio of Rs.2,736 crores. The increased profits came from gold loan, microfinance, housing finance as well as insurance broking businesses. We are focusing on maintaining strong leadership in gold loan business and a gradual calibrated growth in non-gold loan business comprising of microfinance, housing finance, vehicle loan , personal loans, business loans, small business loans, loan against property and corporate loans. Over the next five years, we are keen on increasing the proportion of non-gold business to 18% from present 13%.   The Indian economy continues to be resilient amidst global challenges and growth is underpinned by strong demand conditions, investment in public infrastructure and a stable financial sector. As a result, we remain optimistic on strong growth momentum for our gold loans and non-gold loan business.”

Mr. George Alexander Muthoot, Managing Director said, Our gold loan assets under management  demonstrated strong growth, led by strong demand trends in both urban  and semi-urban markets. Gold loan AUM grew 20% YoY and by 9% during the 1st half of FY 2024 reaching Rs. 67,517 crores. We also witnessed highest ever gold loan advance to new customers in any first half of a year of Rs. 8109 crores. We have continued our strategic emphasis on disbursements, operational efficiency, and margins, which has resulted in our profits growing 18% YoY at Rs.1,966 crores in the 1st half of FY2024. We strongly believe that the resilience of the Indian economy, its positive outlook coupled with optimistic consumer and business sentiments, will keep the gold loan demand strong, and we retain our guidance of growing our gold loan book by 10-15% in FY24. Further, our non-gold loan businesses in subsidiaries continue to do well, with disbursements during the first half of the year increasing by 76% to Rs.4,294 crores in microfinance business and by 164% at Rs.278crores in housing finance business. Total revenue on insurance broking business during the first half of the year increased by 85% at Rs.47crs. We retired USD denominated Senior Secured Notes amounting to USD550 Million, during 1st half of FY2024 which carried a high cost.   We also opened 331 new branches in first half of the year including in subsidiaries and we will continue to expand our range of financial solutions, enhancing customer engagement, and addressing their diverse financial needs. Our investment in digital strategy is paying off well with nearly 39% of our customer transactions now happening via our various digital channels. ”

Key Subsidiaries – ‘Growth revival continues’

Belstar Microfinance

·         Disbursements improved to ~ Rs. 4,294 crores in H1 FY24; growth of 76% YoY

·         Increase in Profit After Tax  in H1FY24 at Rs. 135 crores vs. Rs. 35 crores in H1 FY23; growth of 284% YoY which surpassed the entire profit of the previous year

·         Increase in loan portfolio of 53% YoY at Rs.7,874 crores in H1 FY24 from Rs. 5,138 crores?in H1 FY23

·         Collection Efficiency remaining more than 99% for Regular accounts

·         GNPA at 1.48 % in H1FY24 vs.  8.52% in H1 FY23; NNPA at 0.13% in H1FY24 vs.  2.41% in H1 FY23

·         Opened 164 new branches during Q2 FY24 

Muthoot Homefin

·         Gross Loan AUM at Rs. 1,616 crores in H1 FY24 vs. Rs. 1,420 crores in H1 FY23; growth of ~14% YoY

·         Disbursed Rs. 278 crores in H1 FY24 as compared to Rs. 105 crores in H1 FY23; a growth of 164% YoY

·         Interest income increased at ~18% YoY to Rs. 78 crores in H1 FY24 vs. Rs. 66 crores in H1 FY23 

·         Profit After Tax stood at Rs. 9.09 crores in H1 FY24 vs. Rs. 3.90 crores in H1 FY23; ; growth of ~133% YoY

·         Raised Rs. 150 Crore through private placement of NCD’s at competitive rates

Muthoot Insurance Brokers

·         Profit after tax has increased to Rs. 25 crores in H1 FY24 from Rs. 16 crores in H1 FY23; growth of 60% YoY

·         Increase in total revenue at 85% YoY i.e., Rs. 47 crores in H1 FY24 vs.  Rs. 25 crores in H1 FY23

Muthoot Money

·         Continued decline in NPA through physical collections witnessed consistently throughout the year. GNPA decreased to 1.76% in H1 FY24 from 5.63% in H1 FY23

·         Gross Loan Assets has increased to Rs. 630 crores in Q2 FY24 from Rs. 496 crores in Q1 FY24, up by 27% QoQ

·         Branch network increased to 276 from 185

Standalone Results of Muthoot Finance Ltd and its subsidiaries

Muthoot Finance Ltd (MFIN), India’s largest gold financing company in terms of loan portfolio, registered profit after tax of Rs. 1,966 crores in H1 FY24 as against Rs. 1,669 crores in H1 FY23, an increase of 18% YoY. The profit after tax for Q2FY24 stood at Rs.991 crores in as against Rs. 867 crores in Q2 FY23, an increase of 14% YoY. Loan assets stood at Rs. 69,002 crores in H1 FY24 as compared to Rs. 57,230 crores in H1 FY23 , registering a growth of 21% YoY. During H1 FY24, Gold Loan assets increased by Rs. 5,642 crores registering a growth of 9%. During the quarter, Gold Loan assets increased by Rs.1,478 crores.

Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, loan AUM stood at Rs. 1,616 crores in H1 FY24 as against Rs. 1,420 crores in H1 FY23, an increase of 14% YoY. During the half year, Loan assets increased by Rs. 178 crores, an increase of 12%. The loan disbursement for H1 FY24 stood at Rs.278 crores as against Rs.105 crores in H1 FY23, a YoY increase of 164%. Total revenue for H1 FY24 increased to Rs. 93 crores as against Rs. 75 crores H1 FY23. Profit after tax stood at Rs. 9 crores in H1 FY24 as against Rs. 4 crores in H1 FY23, an increase of 133% YoY.

M/s. Belstar Microfinance Limited (BML), is an RBI registered micro finance NBFC, and a subsidiary company where Muthoot Finance holds 59.02% stake. Loan portfolio for H1 FY24 increased to Rs. 7,874 crores as against Rs. 5,138 crores for H1 FY23, an increase of 53% YoY. The loan disbursement for H1 FY24 stood at Rs.4,294 crores as against Rs.2,444 crores in H1 FY23 , a YoY increase of 76%. During the half year,Loan assets increased by Rs. 1681 crores, an increase of 27% .During the quarter, Loan AUM increased by Rs. 866 crores, an increase of 12% QoQ. Profit after tax stood at Rs. 135 crores in H1 FY24, as against Rs. 35 crores in H1 FY23, up 284% YoY. Stage III Asset stood at 1.48% as of September 30, 2023 as compared to 8.52% last year. 

Muthoot Insurance Brokers Pvt. Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs. 310 crores in H1 FY24. Total revenue for H1 FY24 increased to Rs. 47 crores as against Rs. Rs. 25 crores in H1 FY23, an increase of 85% YoY. It achieved a Profit after tax of Rs. 25 crores in H1 FY24 as against Rs.16crores last year, an increase of 60% YoY.

Asia Asset Finance PLC (AAF) is a listed subsidiary based in Sri Lanka where Muthoot Finance holds 72.92% stake. Loan portfolio grew to LKR 1,958 crores in H1FY24 as against LKR 1,930 crores in H1 FY23, an increase of 1.45% YoY. Total revenue for H1 FY24 stood at LKR 346 crores. It achieved a Profit after tax of LKR 13 crores in H1 FY24.

Muthoot Money Ltd (MML), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MML is a RBI registered Non-Banking Finance Company engaged mainly in extending gold loans and loans for commercial vehicles and equipment. Loan portfolio for H1 FY24 stood at Rs. 630 crores, as against Rs. 234 crores as on H1 FY23. Total revenue for H1 FY24 stood at Rs. 47 crores.

Ashok Leyland To invest Rs 1200 Cr Into Switch Infusion To Fund Expansion Of Product Portfolio, R&D & Operations

The Board of Directors of Ashok Leyland in their meeting held today, have approved an investment of Rs 1200 cr in Switch Mobility as equity through its holding company Optare PLC UK.  The funds infused will be used for capital expenditure, R&D and meeting operational requirements both in UK and India. The funds will be infused over the next few months after necessary statutory approvals in one or more tranches.

Switch Group of Companies (Switch Mobility Ltd - UK and Switch Mobility Automotive Ltd- India) house the Electric Mobility initiative of the CV major, Ashok Leyland, focusing on e-Buses and e-LCVs.  Over the last few years, Switch India has had major success in garnering orders from State Transport Undertakings.  As on date Switch in India and UK has over 800 + buses plying successfully and has an order book of over 1200 buses.  Switch India had a successful launch of India’s only Double Decker e-Bus last year.   

In September 2023, Switch India launched its state-of-the-art e-LCVs. The company has signed MOUs of over 13000 vehicles for its much-awaited e-LCVs which it will start delivering from the fourth quarter of the current fiscal.

Mr Dheeraj G Hinduja, Executive Chairman, Ashok Leyland stated, “Electric Vehicles especially in buses and light trucks have a very bright future as Governments and private customers are driving the green agenda. We are very happy with the progress made by Switch, and we will continue to invest on building its capabilities. We are confident that Switch will grow further in the European markets with the launch in 2024 of our new E1 12m bus developed specifically for the European market. Our portfolio of electric buses will cover value and premium segments meeting all price points for many global markets”

Mr Shenu Agarwal, Managing Director & CEO, Ashok Leyland said, “The market for EVs is growing rapidly driven by the trend towards Carbon Neutrality.  The Government support is further helping the market to expand.  We will continue to build capability in this business by investing in product development as well as in expanding operations. Both India and European markets are going to be important growth centers for EV trucks and buses.  In the coming year we are expecting our e-LCVs to drive faster customer adoption. The balance sheet of Ashok Leyland can comfortably fund the initiatives of Switch.”

Thursday, November 9, 2023

Invest With Prosperity: Zee Business Presents Muhurat Trading Special Show For Diwali 2023

As the festival of Diwali approaches, Zee Business is delighted to announce its special ‘Muhurat Trading’ show, set to air on Sunday, 12th November 2023. The trading session conducted on the auspicious day of Diwali, is considered a golden opportunity for investors to tap into good luck and prosperity. In 2023, Diwali Muhurat Trading will occur from 6:15 p.m. to 7:15 p.m, with Zee Business' exclusive coverage beginning from 5 p.m.

Muhurat trading holds a special place in the hearts of investors due to its auspicious timing, believed to usher in good luck and prosperity. It is a symbolic gesture, akin to a token investment made by many, who purchase shares as a means of celebrating Diwali and seeking the blessings of wealth from the goddess Lakshmi. Moreover, Muhurat trading typically unfolds amid a positive market sentiment, aligning with a general sense of optimism about the stock market's future.

Emphasizing on the relevance of Muhurat trading, Anil Singhvi Managing Editor, Zee Business said, “Diwali, a festival of illumination and prosperity, creates a unique opportunity for investors. Zee Business proudly introduces the Muhurat Trading show, where we empower our viewers with knowledge to make informed investment decisions during this auspicious time. At Zee Business, we grasp the essence of Muhurat Trading on Diwali, where faith and finance intertwine. Join us in illuminating your financial path and ensuring your investments radiate success."

With expert guidance, responsible investing tips, and the spirit of Diwali, let us all come together to make this occasion a beacon of success, paving the way for a brighter financial future.

Zee Media Corporation Ltd, one of India's leading media companies, has a strong presence in the news and regional genres, with 16 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

IIIT-Bangalore And Toshiba Software Sign MoU For Research On “Zero Touch Security In Network For 5G And Beyond Systems”

International Institute of Information Technology Bangalore (IIIT-B) recently announced signing a Memorandum of Understanding (MoU) with Toshiba Software (India) Private Limited (TSIP) to support the research project on “Zero Touch Security in Network for 5G and Beyond Systems”. A Zero Touch Network (ZTN) would help make the emerging digital society a safe place by having near-zero human intervention as well as meeting real time and dynamic requirements from different user applications which use virtualized network functions.

As a part of its CSR initiative, TSIP has funded 33,00,000 INR per year for the research project spanned across two academic years from 2023-2025. The MoU was signed by Commodore SR Sridhar (Retd), Registrar, IIIT-B and Mr. Ramdas Baliga, Managing Director, TSIP, in the presence of Prof. Debabrata Das, Director, IIIT-B. The project will be led by principal investigator, Prof. Jyotsana Bapat, IIIT-B with a team of experts executing it.

Management of ever-increasing complexity of 5G and beyond networks mandates automation of their functions. “In addition to academics, research plays a crucial role at IIIT-B and we have achieved significant breakthroughs in the realms of 5G and 6G. As the evolution of telecommunications and internet capabilities through wireless technologies continues to expand, we are pleased to collaborate with Toshiba on research focused on Zero Touch Security in Zero Touch Networks for 5G and beyond systems,” said Prof. Debabrata Das, Director, IIIT-Bangalore.

“TSIP strongly encourages industry-academia collaborations. The sphere of academia brings value in terms of knowledge, research, talent, resources, and innovation. These capabilities combined with the right mentoring bring about diverse range of perspectives and interdisciplinary approaches to problem-solving. This diversity of thought can lead to creative solutions and novel approaches to industry challenges. Toshiba’s expertise in 5G technology domain and TSIP’s vision of empowering digital agility across and beyond cyber physical systems fit perfectly into the scope of this research project. Through this collaboration, we intend to generate a positive impact and bringing value to the community”, said Mr. Ramdas Baliga, Managing Director, TSIP.

Advancement of telecommunications and internet enabled with wireless technologies, have made a huge socio-economic impact over the last few decades. Maintaining good security hygiene is a challenge anywhere in the world.

The outcomes of the project shall contribute to society and make the future networks secure with robustness so that the billions of users can seamlessly use the trusted services. By partnering with IIIT-B, TSIP aims to provide students with real-world contexts for their studies and fostering responsible and sustainable business practices.

About IIIT-Bangalore

IIIT-Bangalore is a premier institute focused on Post-Graduate IT education and research, located in the heart of Electronic City, Bangalore. IIIT-Bangalore is graded A+ by National Assessment and Accreditation Council (NAAC). In the National Institutional Ranking Framework (NIRF) for 2022, IIIT-B has secured 74th ranking. The institute was ranked number 1 among India's Best Technical Universities (Private) by India Today. IIIT-Bangalore contains state-of-the-art infrastructure, eminently qualified faculty, a vibrant alumni community, cutting-edge research facilities, and close industry collaborations.

The institute’s specially designed courses make the students cognitive of the current technologies. Experiential learning and practices followed in the institute equip them with the tools and knowledge to solve contemporary real problems. IIIT-Bangalore has consistently achieved excellent placement records every year since its establishment in 1998, thanks to the unwavering support of the industry and the expanding pool of highly skilled alumni.

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About Toshiba Software (India) Private Limited

Toshiba Software India Private Limited (TSIP) is a wholly owned subsidiary of Toshiba Group, headquartered in Bengaluru with a development center in Pune. Since its inception in the year 2002, TSIP has been at the forefront of developing cutting-edge technologies and providing innovative software solutions. 

TSIP envisions to evolve into a Digitally Agile Centre of Excellence. As a CMMI Level 5 and ISO 27001 certified company, TSIP has been growing with the results of strategic planning and execution of projects with a vision to contributing greater value towards the parent company Toshiba Corporation, Japan. 

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RHI Magnesita India Reports 63.8% Y-o-Y Rise In Total Income For Q2 FY 2023-24

-          Total income in Half Year ended 30th September 2023 stands at Rs. 1,920 crores

RHI Magnesita India Limited, the leading manufacturer and supplier of high-grade refractory products, systems and solutions, has reported consolidated financial results for the Quarter ended September 30th, 2023 (Q2 FY 2023-24). The company registered 63.8% growth in total income compared to the same quarter of the previous financial year. The Q2 FY 2023-24 income stood at Rs. 989.7 crores, as compared to Rs 604.4 crores during the Q2 FY 2022-23. EBITDA for the quarter grew 44% year-on-year to Rs. 150.7 crores. The PBT stood at Rs 97.9 crores during the period as against Rs 97.0 crores during Q2 FY 2022-23.

Commenting on the results, Parmod Sagar – MD & CEO of RHI Magnesita India said, “The quarter saw strong growth in shipments, reflecting a positive demand outlook. Recently acquired assets complemented organic growth in volumes. While a change in product mix exerted pressure on realizations, capacity utilizations continued to improve through the quarter on a consolidated basis. A year-on-year rise in employee and other expenses was partially offset by easing out of raw material expenses. Synergies from RHIMIR helped boost sales to steel segment, benefitting realization per ton vis-à-vis Q1 FY24.”

About RHI Magnesita India Ltd.

RHI Magnesita India Ltd. is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. This includes Magnesia and Alumina based bricks and mixes for large industrial customers as well as specialty refractory products like Isostatic products and Slide Gates. With 2000+ strong skilled workforce in 3 state-of-the-art manufacturing plants located at Bhiwadi, Cuttack, Vizag and Mumbai, 2 main offices, 26 site offices across the country and a world-class R&D centre at Bhiwadi, RHI Magnesita India serves customers in India and more than 75 countries. The Company is listed with BSE and NSE.

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