100 Years, 123 Feet Dosa: MTR Celebrates 100 Years With A GUINNESS WORLD RECORDS™ Title For The Longest Dosa

Celebrating it’s 100-year journey, MTR Foods announced that they are now the new GUINNESS WORLD RECORDS title holder for the Longest Dosa in partnership with Lorman Kitchen Equipments. MTR's signature Red Rice batter was used to prepare this monumental dosa at its Bommasandra Factory. The record was created by a team of 75 chefs, comprising of both seasoned experts and budding culinary talent, under the guidance of MTR's Cuisine Centre of Excellence. This record-breaking endeavour epitomizes the brand's mastery of culinary craftsmanship and demonstrates its expertise in South Indian food.

The dosa holds a cherished place in the hearts and palates of people across India, serving as the perfect centrepiece for this historic occasion. As Mr. Sunay Bhasin, CEO of MTR, said, “This is a moment of immense pride for us. We were attempting for a 100 feet dosa, however, we have outdone ourselves and have created a 123 feet dosa. This monumental dosa is a celebration of our heritage and the love we have been receiving for generations. Dosa has been a part of MTR’s legacy from the very beginning and it continues to be one of the most loved products of MTR even today. From being a humble South Indian dish, it is now recognized and loved worldwide. The longest dosa world record is a celebration of our bond with our consumers and their favourite dish.”

Mr. Chandra Mouli, MD, Lorman Kitchen Equipment Pvt. Ltd. added, “World’s Longest Dosa is being cooked on a specially built induction stove, the biggest ever from Lorman. Induction cooking equipment are highly efficient, sustainable, and eco-friendly, creating a safer ecosystem for chefs, we are proud to be partnering with MTR on this remarkable event.”

This creation also serves as a symbol of community spirit, bringing together food enthusiasts. This culinary marvel was shared not only with MTR's dedicated employees but also with children from local schools and members of the surrounding communities. With this, MTR broke the previous world record title of longest dosa of 16.68 m (54 ft 8.69 in).

About MTR: With a 100-year-old history of serving authentic Indian Food to Indians, MTR stands tall as an Indian heritage brand. The journey to being India's premier, processed food brand has been marked by a constant focus on innovation and the adoption of new technology. However, every MTR product always embodies the tradition of unmatched taste and quality. Culinary secrets that have been protected and handed down over the generations are transformed into authentic recipes that are trusted and used by thousands of mothers. The MTR of today is your friend in the kitchen and promises to help you serve the authentic taste of India to your family.

A popular household name, MTR is synonymous with delicious Indian food in an easy-to-use packaged format. With a diverse portfolio including many iconic products like Sambar Powder, Puliogare, Rava Idli, Gulab Jamun Mix, Badam drink mix which are household names today, MTR unifies India tastefully - making the homemaker the ‘hero’.

Need To Be Vigilant While Following Procedures In Carnet At Every Country Entry And Exit, Points Deputy Commissioner Of Customs, Blr

Mr Animesh Garg, Deputy Commissioner of Customs, Bengaluru, yesterday stressed on the need to be vigilant and careful while following the procedures of stamping, sealing and getting entries registered in the carnet correctly at every country entry/exit point. He called for giving the same importance to carnets as one would give to their respective passports.

Addressing the ‘Workshop on ATA Carnet’ organized by FICCI, jointly with the Federation of Indian Granite Stone Industry (FIGSI), Federation of Karnataka Chambers of Commerce & Industry (FKCCI) & Bangalore Chamber of Industry & Commerce (BCIC), Mr Garg assured that the local customs would come forward if any ATA Carnet user faces delay or harassment. He further stated that close cooperation between the customs department and FICCI would help in overcoming the practical difficulties. He added that the Customs in Bengaluru has recently introduced Standard Operating Procedures (SOP) for ATA Carnet import and export consignments to be followed by all exporters/traders in Bengaluru Ports.

Highlighting the importance of the workshop for the local export community Mr K. Ullas Kamath, Chairman, FICCI-KSC said, “The workshop is a great initiative by FICCI in educating people on the use of Carnet and appreciating the value it brings to the export community.” He further said that small, medium entrepreneurs and startups in Karnataka can avail the benefit of ATA Carnet to display, showcase and market their products in the overseas market.

Elaborating on ATA Carnet, Mr PS Pruthi, Senior Consultant, FICCI & Former Member Customs Excise & Service Tax Appellate Tribunal (CESTAT) said the scheme was like a global customs document. “It simplifies customs procedures at different customs stations to facilitate temporary importation of goods,” he stated while adding that the ATA Carnet is already being used in 79 countries, including India. He also talked about e-Carnet system to be introduced worldwide by World ATA Carnet Council (WATAC) in association with Word Customs Organisation (WCO) in 2-3 years.

Mr S. Krishna Prasad, President, FIGSI, Mr Ramesh Chandra Lahoti, President, FKCCI & Mr N.R. Badrinath, Chairman of Indirect Taxes Committee, BCIC also shared their perspective during the event.

ATA Carnet is a temporary admission document which simplifies the customs procedures and clearances in a foreign country, without paying duty or a bank guarantee for temporary import into that country. Like a passport for goods, ATA Carnet allows the goods for which it was issued to enter any of the participating countries for up to one year. An ATA Carnet holder can avoid customs declaration and can do away with security deposits or guarantees in the country of importation. In India, FICCI is the sole National Guarantor for ATA Carnets.

ATA Carnet covers several areas for use including trade fairs, shows, exhibitions, meetings etc. for temporary export into a country which is a signatory to the conventions governing ATA Carnets. Goods must be re-exported out of every country and re-imported into India within a year. At present 79 countries recognize ATA Carnet, including Australia, Canada, France, Germany, Japan, Korea, Malaysia, Spain, UAE, UK and USA.  

The workshop drew participation from industry experts, exporters from various sectors, fair and exhibition organizers etc. The event provided them with a unique opportunity to share their mutually beneficial knowledge and experiences. The industry discussed issues involved with respect to temporary imports of goods and drew benefit from the deliberations of the sessions. 

Managing Director Of LG Electronics India Travels To Hubli Marking His 51st Visit Across The Country In 1 Year

The Managing Director of LG Electronics India, Hong Ju Jeon visits Hubli in Karnataka, marking his 51st branch visit in the country. This visit underscores LG's commitment to understanding regional consumer preferences.

Mr. Jeon was in charge of the Gulf region as subsidiary President of LG Electronics before coming to India in Jan 2024 as the Managing Director. Considering the vast demographics and growing economy of India, he aims to increase the consumer base by adopting a consumer-centric approach. Mr. Hong has spearheaded initiatives aimed at strengthening LG's brand position in India. Under his guidance, LG has introduced flagship products such as the WASH TOWER, INSTA VIEW Refrigerator, and OLED TV, tailored to meet the evolving needs of Indian consumers.

During his visit, Mr. Hong Ju Jeon engaged with local retailers and on-ground teams to gain a comprehensive understanding of the region's dynamics. He emphasized collaboration and transparency in fostering long-term relationships with Partners and other stakeholders across the country.

As LG continues to expand its foot prints in India, Mr. Hong is committed to driving innovation and maintaining LG's position as a trusted leader in the consumer electronics and home appliances market.

Commenting on his visit, Mr. Hong Ju Jeon-MD LG Electronics India stated, "Our commitment to the Indian market goes beyond just delivering innovative products. We believe in actively listening to our consumers, understanding their needs, and striving to exceed their expectations. I am extensively touring across India to gain firsthand insights that drive our efforts to continuous improvement”.

Mr. Hong’s vision revolves around actively engaging with consumers and stakeholders at the grassroots level. By regularly visiting regional markets, he aims to gather invaluable feedback directly from frontline teams. This approach enables LG to adapt its product offerings and business strategies according to the dynamic preferences and challenges faced by Indian consumers.

About LG Electronics India Pvt Ltd               

LG Electronics India Pvt. Ltd. (LG Electronics), a wholly owned subsidiary of LG Electronics Inc, South Korea was established in January 1997 in India. It is one of the most formidable brands in consumer electronics - Home Entertainment, home appliances*, HVAC, IT hardware. In India, LG Electronics has earned a premium brand positioning and is an acknowledged trendsetter in the industry.  LGEIL's manufacturing unit at Greater Noida is one of the most eco-friendly units among all LG manufacturing plants in the world. The second Greenfield facility is located at Ranjangaon; Pune which manufacture LED TVs, air conditioners, commercial air conditioning systems, washing machines, refrigerators, and monitors.

*Home Appliances include- Refrigerator, Washing Machine, AC, Water purifier, Microwave, Fan, Dishwasher & Air purifier.

BMW Motorrad kick-Starts GS Experience Level 1, 2024 Training Program In Bengaluru

* Two-day adrenaline-pumping GS riding experience for GS motorcycle owners by BMW Motorrad IIA (BMW Motorrad International Instructor Academy) certified trainers.

* #BMWMotorradIndia #BMWMotorrad #MakeLifeARide #GSExperience #Adventure #Biking #Training #Riding #GSExperienceIndia #GSExperience2024.

BMW Motorrad commences its most awaited training program – GS Experience Level 1, 2024 in Bengaluru. The two-day training program will be held on 16-17 March 2024.

The GS Experience presents an unparalleled opportunity for riders to discover the extraordinary prowess of BMW Motorrad's iconic GS series, perfectly suited to its natural terrain. This exclusive, two-day event offers a bespoke training program tailored specifically for owners of BMW's adventure motorcycles, promising a deep dive into the world-class capabilities of the legendary GS range.

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

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

For registration and further details please contact the nearest BMW Motorrad Dealership.

Transrail Lighting Limited Filed DRHP With Market Regulator SEBI

DRHP Link: https://ingaventures.com/docs/offer-docs/Project_%20Ruby-DRHP_(Filing_version).pdf

Transrail Lighting Limited (“The Company” or “TLL”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”) and BSE Limited and National Stock Exchange of India Limited.  

The Company is one of the leading Indian engineering, procurement and construction (“EPC”) companies with integrated manufacturing facilities for lattice structures, conductors, and monopoles. TLL have a track record of four decades in providing comprehensive solutions on a turnkey basis globally and have been a trusted and longstanding partner in the power transmission and distribution sector.

The Company plans to raise fund by offering equity shares of face value ? 2 each (“Equity Shares”) through Initial Public Offering. The total offer size comprises of Fresh Issue of Equity Shares aggregating up to ? 4,500 million (?  450 crore) and an offer for sale of up to 10,160,000 of Equity Shares ("Offer for Sale”) by Ajanma Holdings Private Limited. (The “Promoter Selling Shareholders”), . (The “Offer”)

The Company proposes to utilize the net proceeds from the Offer towards funding incremental working capital requirements upto ? 2,500 million (? 250 crore), funding capital expenditure upto  ? 909.02 million (? 90.90 crore) and balance amount for general corporate purposes. (The “Objects of the Offer”) 

According to the CRISIL Report, TLL has also reported the highest growth in its revenue from operations at 35.1% among its peers in Financial Year ended March 31, 2023.

Inga Ventures Private Limited, Axis Capital Limited, HDFC Bank Limited and IDBI Capital Markets & Securities Limited are the Book Running Lead Managers to the Offer. (The “BRLMs”)

About The Company:

Transrail Lighting Limited has a footprint in more than 58 countries like Bangladesh, Kenya, Tanzania, Niger, Nigeria, Mali, Cameroon, Finland, Poland, Nicaragua etc. including turnkey EPCs or supply projects. As of September 30, 2023, the company has undertaken EPC of 33,500 circuit kilometers (“CKM”) transmission lines and 30,000 CKM distribution lines, domestically and internationally. Transrail Lighting Limited provides EPC services in relation to substations up to 765 kilovolts. The company has presence in all the power transmission and distribution segments and majorly in high voltage and extra high voltage segments.

Other than the power transmission and distribution business, Transrail Lighting Limited also has other business verticals, such as, civil construction, poles and lighting, and railways. Over a period of time, the company has steadily invested into backward integration by adding manufacturing units for towers, conductors and poles to their business and have developed the ability to provide comprehensive solutions including designing, manufacturing, procuring, testing and supplying of conductors, towers etc. for their EPC projects and also towards direct supplies. Generally, these products and services cover a substantial part of the EPC value in a typical transmission line project, which reduces their dependency on third-party suppliers.

Avtar’s Flagship Conclave For Women Professionals, SEGUE Sessions In Its 16th Edition Draws Over 100 Attendees

* Pre-order of Dr Saundarya Rajesh’s next book that addresses workplace challenges for women announced at SEGUE

* Role Model Women Professionals Delivered Sessions on Powering through by Inspiring Inclusion

* From navigating risks in career journeys to managing finances to overcoming double-bind paradox, SEGUE Sessions covered it all

Avtar Group, Diversity, Equity and Inclusion (DEI) Solutions firm, hosted the 16th Edition of SEGUE Sessions – a half-day event designed to empower Indian Women Professionals navigate their professional landscape with clarity and purpose under the theme #PowerTheShift. 

Segue Sessions is one of the most impactful and successful confluences for women professionals, hosted by Avtar Group.  Segue Sessions is aimed at enabling women professionals build sustainable and successful career paths irrespective of interruptions and challenges in their careers. In the sixteenth edition of Segue Sessions hosted in the month of International Women’s Day Celebrations, several women leaders and senior industry practitioners rendered their expertise at keynote address, panel discussion and workshop as part of the conference. Over 150 delegates from across industries participated in this conclave held in Chennai.

Speaking at the Conference, Geetha Ramamoorthi, Managing Director, KBR India, “Be bold to provide opportunities to women with potential and passion, instead of judging them based on prior experience. Especially in the manufacturing industry, it is important that we modernize the workplaces make tweaks in the infrastructure and policies to make the organizations and shopfloor women friendly. While I say that, we also need to sensitize men in manufacturing to the need for including more women in the workplace.”

Addressing the audience at the SEGUE Sessions, Dr Saundarya Rajesh, Founder-President, Avtar Group announced the pre-order of her next book, Conversations with Career Doctor, a solution-centric powerful handbook for every Indian Woman Professional (IWP) to help her stay employed, achieve financial security to thrive and win at workplaces. "Conversations with the Career Doctor isn't about having a great career, it's about rewriting the narrative of what 'winning and thriving' in the Indian Woman Professional’s career graph means. Each of us has the potential to navigate the twists and turns of our careers. The book will equip women professionals with practical guidance on proactive steps that they must take to grow from strength to strength in their professional spaces. With relatable anecdotes the book will enable women professionals not only to excel, but to thrive on their own terms, defining success from the inside out, and leaving an indelible mark on the world," said Dr Saundarya at SEGUE Sessions.

Data from the Periodic Labour Force Survey (PLFS July 2022-June 2023) indicates that there has been a rise in the women’s workforce participation which now stands at 37%. This is an encouraging rise from the 2021-2022 numbers which stood at 32.8% for women and 77.2% for men. However, to achieve India’s ambition to be a $5 trillion economy by 2025, the women’s workforce participation rate will have to drastically climb up. Despites other economic advances, without achieving gender balance in the economic domain, India’s dream of becoming a $5 trillion economy cannot be realised. There are several women who drop out of workforce after marriage or maternity and are unable to find their way back to the kind of jobs they want. This leaves them dissatisfied and their organizations bereft of such potential talent. Furthermore, the women who maintain their career continuum often do not climb to the top due to a variety of reasons – systemic issues, self-limiting biases, lack of career mentors, guilt-trips, and so on.

“At SEGUE we provide the IWPs tools and strategies towards sustainable solutions for problems/challenges faced by them in workplaces. This year, we have transcended career-centricity by delving into the multifaceted dimensions of the Indian Woman Professional’s experiences at workplaces”, added Dr Saundarya.

With a focus on the unique obstacles and unique experiences faced by women professionals, SEGUE Sessions, delivered a compelling and empowering narrative on Navigating Risks, overcoming the double-bind paradox, success stories of women professionals powering through by inspiring inclusion. The conclave also witnessed teams presenting solutions for challenges towards increasing women’s workforce participation in an exclusive segment HackEquity – that cracked the Inclusion Code.

Former Karnataka CM Sadananda Gowda Inaugurates AU Small Finance Bank’s New Branch In Sanjay Nagar

AU Small Finance Bank (AU SFB), India’s largest SFB, today inaugurates its new branch at Sanjay Nagar, Bengaluru, which is the Bank’s 12th branch in Karnataka. This launch signifies AU SFB’s targeted offerings for the Bengaluru city and its commitment to delivering accessible and technology-driven financial services across South India. The inauguration was done by former Chief Minister of Karnataka D. V. Sadananda Gowda and senior officials of AU SFB.

The strong economy of Karnataka makes it a significant market offering high potential of deposits and credit. Bangalore alone contributes to around Rs 9 lakh crores of deposits of the state and remains a key city in AU SFB’s expansion plan in South India. Sanjay Nagar is an appealing strategic locality with well-planned infrastructure, luxury residential projects, high-class educational institutes, and healthcare facilities.

Speaking on the occasion, former Chief Minster of Karnataka, D. V. Sadananda Gowda said, “Bengaluru is an industrial hub that is contributing a great deal to the economy of our state as well as the nation. Over the years, AU Small Finance Bank has gained reputation of bringing customer centric banking solutions bundled with tech advancements. With this branch, I am sure the residents of Sanjay Nagar stand to benefit from that. As more and more industrial leaders as well as common man gain access to better banking, it will help add up to the prosperity of our state.”

Mr. Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, “As a customer-centric bank, we strive to serve customers in Bengaluru with our unique proposition while fostering long-term relationships. To date, the positive response and trust from our tech-savvy clientele in Bengaluru have instilled confidence in us to extend our presence. At Sanjay Nagar branch, we aim for the customers to enjoy the advantages of our flagship features, such as monthly interest payout on savings accounts, extended banking hours, 24x7 video banking, vehicle loans, business banking, FDs/Green FDs, credit cards, construction funding to real estate developers, along with meticulously crafted wealth management products.”

As of December 2023, the Southern region has surpassed Rs 3,000 crore in the deposit book of AU SFB, instilling confidence of AU SFB to scale up its operations in South India. The bank aims to reach approximately 37 branches in South India by March 2024.

About AU Small Finance Bank

AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established itself as the largest SFB in India since starting its banking journey in April 2017. Established in 1996 by Mr. Sanjay Agarwal, a first-generation entrepreneur, AU SFB boasts a 28 years-legacy with deep understanding of the rural and semi-urban markets and customer segments. The Bank operates a sustainable business model that facilitates credit to the unserved and underserved retail and MSME customer segments while providing complete banking solutions to its deposit and branch banking customers. As a tech-led Bank, AU has a strong digital presence with innovative products and services like 24X7 video banking, credit cards, personal loans, UPI QRs, payments, merchant lending, WhatsApp Banking, Chatbots etc. and its digital bank application AU0101 remains among the higher rated banking apps in India.

The Bank operates from 1,049 banking touchpoints across 21 States & 3 Union Territories serving 46.8 Lac customers with an employee base of 28,904 employees. As on 31st Dec’23, the Bank has a net worth of ?12,167 Crore, deposit base of ?80,120 Crore, Gross Advance of ?67,624 Crore and a Balance sheet size of ?1,01,176 Crore. AU SFB enjoys the trust of marquee investors and is listed at both NSE and BSE. It has consistently maintained high external credit Rating and is presently rated ‘AA/Stable’ by CRISIL, CARE Ratings and India Ratings, while the Bank’s FD is rated ‘AA+/Stable’ from CRISIL Ratings.

For more information, please visit the company’s website at www.fincarebank.com. 

OPPO India Launches Digital Self-Help Assistant For Instant Smartphone Support

* -First-of-a-kind Self-Help Assistant in India (Link: https://support.oppo.com/in/simulator/)

* -Users can conveniently access 400+ settings and functions through the OPPO simulator.

On World Consumers Rights Day, OPPO India introduces the OPPO Self-Help Assistant, a digital service that lets consumers resolve their smartphone issues without visiting a service centre. This first-of-a-kind initiative in India covers all OPPO handsets—A, F, K, Reno, and Find Series—launched within the last five years. The programme aligns with the Government of India’s “Right to Repair” framework and is designed to provide customers with comprehensive support and guidance.

“Indian consumer are very tech-savvy, and this portal provides users with all the information they would need to troubleshoot their OPPO smartphones without making a trip to the service centre,” said Savio D’Souza, Director of Product Communications at OPPO India. “With the Self-Help Assistant, OPPO makes things simpler for consumers; this initiative is about empowering them and enhancing their experience of owning an OPPO device.”

OPPO India users can access the Self-Help Assistant by visiting the OPPO website (see above) or app (MyOPPO app > Support Tab > Self-Help Assistant). Users will need to select their device from the interface, after which they can choose between the Simulations and Troubleshooting options that are displayed on the left side. Customers can also check the complete Specifications of their device via a button top right (see below).

Under Simulations (see below), users can access 400+ settings and functions—including Camera, Memory, Recording, Backup, Wi-Fi & Hotspot—by typing queries into the search box or selecting options from the menu. This section is designed to help users explore and understand the features of their phones via digital step-by-step guides.

With Troubleshooting (see above), users can resolve software issues around Data, Network, and Device Support after answering a few questions. Users can provide their feedback via thumbs up or thumbs down icons, depending on whether their issue was resolved successfully or not. In case of unresolved issues, users can input their contact information for a follow-up by an OPPO India Customer Support representative.

In the next phase, OPPO India’s Self-Help Assistant will offer multilingual support and integrate IoT products, continuing to enhance our self-service for an even better experience ahead.

About OPPO Mobiles India Private Limited

OPPO is the world's leading smart device manufacturer and innovator. Since its establishment in 2004, the company has expanded its global footprint to over 60 countries and regions, including India. OPPO Mobiles India Private Limited, registered in 2013, has its headquarters in Gurugram, Haryana, and operates one of the nation's largest smartphone manufacturing centres.

Vitesco Technologies Fiscal Year 2023: Profitability And Cash Flow Exceeded Expectations Expectations

* Sales increase to €9.23 billion in fiscal year 2023 (2022: €9.07 billion)

* Adjusted EBIT margin came in higher than the company’s own guidance at 3.7 percent (2022: 2.5 percent)

* Free cash flow above the company’s expectations at €84.9 million (2022: €123.2 million)

* Growth in electrification sales of around 21 percent to €1.3 billion (2022: €1.1 billion)

* Order intake of more than €12 billion, of which around 70 percent in the electrification business Order backlog as of December 31, 2023 stood at around

* €58 billion, with more than half electrification-related First dividend distribution planned Guidance for 2024: sales forecast between €8.3 billion and

* €8.8 billion, further improvement of adjusted EBIT margin between 4.5 percent and 5.0 percent, negative free cash flow of around €350 million expected

Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions for sustainable mobility, is publishing its consolidated financial statements for fiscal year 2023. The company had already published preliminary results on February 23, 2024, in which it fully achieved – and in some cases exceeded – its own forecast for all key financials.

CEO Andreas Wolf: “2023 was a challenging but successful year. Our company achieved further profitable growth, won important orders, and advanced its leading position in the electromobility market.”

Profitability and cash flow well above company and market expectations

In 2023, Vitesco Technologies increased its consolidated sales to €9.23 billion despite a persistently challenging market environment (2022: €9.07 billion). Adjusted for changes in the scope of consolidation and exchange-rate effects, sales increased by 4.4 percent.

Due to the further improvement in operating performance, the company’s adjusted EBIT margin of 3.7 percent (2022: 2.5 percent) was much higher than its forecast range of 2.9 percent to 3.4 percent. The adjusted EBIT thus amounted to €341.1 million (2022: €225.5 million).

Thanks to improved profitability and despite higher investments and the financial burden from the contract manufacturing business with Continental, free cash flow amounted to €84.9 million in fiscal year 2023 (2022: €123.2 million). This was higher than Vitesco Technologies’ own forecast of approximately €50 million and the market consensus of €71 million.

Capital expenditures1 on property, plant, and equipment and software amounted to €499.8 million (2022: €446.6 million). The ratio of capital expenditures to sales was therefore 5.4 percent (2022: 4.9 percent).

As of December 31, 2023, Vitesco Technologies’ equity ratio stood at 37.6 percent (December 31, 2022: 40.3 percent). The company reported net liquidity of €337.0 million as of December 31, 2023 (December 31, 2022: €333.4 million).

Vitesco Technologies generated sales of around €1.3 billion from electrification components in 2023 (2022: €1.1 billion). The reason for the less significant increase in sales was the softening of demand for electrification components in the market in the fourth quarter of 2023. The numerous project ramp-ups could not compensate for this effect.

In fiscal year 2023, total order intake came to more than €12 billion (2022: €14 billion). Roughly.

upGrad Fuels Domestic Expansion With Senior Hires; To Enter 10th Year Of Growth

upGrad, one of Asia’s largest integrated learning skilling and workforce development majors announced the appointment of Shailesh Mahale (former Zepto) as Corporate HR Head and Kumar Anshu (former OLX Group) as Head of Human Resource for Working Professional, Study Abroad and Offline segment. With this Vandana Kaushik Goel has been elevated as the Head of Human Resources for upGrad’s Enterprise arm.

In line with upGrad’s growing footprint and team strengths, these three key India appointments will augment operational efficiency and wider employee engagement across the organisation. With a strong background in HR technology and operations, including successful implementations of systems like PeopleSoft, SAP Success Factors & Darwinbox, Shailesh helped build Zepto in its initial months. Having also worked at other industry-leading brands like TCS, Dow Chemicals, and HDFC Life Insurance, Shailesh has been specifically appointed to drive Corporate HR transformation at upGrad.

In his current role, he will lead the Corporate HR functions encompassing operations & digitisations, Employee experience, Payroll & Compliance, and HR Audits, leveraging his extensive expertise to propel organisational growth.

With 15 years of diverse experience across Business HR, Consultancy, HR Strategy & Software engineering at Siemens, EY LLP, OLX and Wipro, Anshu bridges business and people needs effectively. In his prior role at EY, he project-managed and consulted GOI in the development of an e-learning organisation, demonstrating strong consulting abilities. He has also led large transformation & strategic initiatives as part of his earlier roles.

Vandana's exceptional capability in change management has been pivotal in driving efficiency within the organisation, and her strategic acumen and leadership qualities position her as a driving force in advancing upGrad’s business goals. With over 17 years of experience in the HR domain across notable sectors such as education, software, and professional services, she will continue to lead HR business partnering across the entire Enterprise arm at upGrad.

Commenting on the road ahead, Saurabh Deep Singla, CHRO at upGrad noted, “With the rapidly evolving business landscape, it’s important that we bolster our HR capabilities to ensure seamless operations and an enriching employee experience. While our primary focus remains on driving career growth for our learners, maintaining a people-first organisational culture is non-negotiable. These strategic hires are not just tasked with traditional HR functions but would be instrumental in shaping the future of skilling and workforce development. Their expertise coupled with a deep understanding of technology and business needs, positions upGrad as a front-runner within the skilling ecosystem while also having it redefine how organisations approach talent development in the digital age.”

upGrad has bolstered its leadership team with key hires over the past 9-10 months, while also recording tangible YoY business outcomes. "upGrad is on the brink of entering a decade, marking an important year of growth for us. We've evolved from a small team to an organisation comprising nearly 5000 colleagues spanning across various states and nations. The increasing diversity within our teams, coupled with our shared goal of making upskilling a global reality, reinforces our faith in this institution," added Singla.

Shailesh Mahale will be based out upGrad’s HQ in Mumbai while both Kumar Anshu and Vandana Goyal will oversee operations from Delhi NCR.

About upGrad

Started in 2015, upGrad is Asia’s largest integrated Learning, Skilling, and Workforce Development Company. upGrad offers a range of online & hybrid skilling programs, Certifications, and Bootcamps under its B2C portfolio. It also facilitates top Indian and global universities to offer their Diploma, Master’s and Executive Doctorates. Additionally, select programs are tailored for enterprise clients under the B2B model, along with other recruitment and staffing services. To date, upGrad has enrolled 10 million+ learners from 70+ countries, boasts a network of 300+ direct global university partners, wide line-up of 2500+ pathway connections, and an enterprise arm with 3000 corporate partners, worldwide. www.upgrad.com

BMW Group Business Continues On Profitable Growth Course

+++ Zipse: “Implementing strategy consistently and successfully” +++ Group EBT margin of 11.0% for the full year +++ Automotive EBIT margin at 9.8% in 2023 +++ Percentage of BEV deliveries of 15% in 2023, as forecast +++ • EU fleet CO2 emissions at 102.1 g/km (WLTP) ? well below 128.5 g/km limit +++ Dividend of € 6.00 per share of common stock proposed +++

The BMW Group achieved its business objectives for financial year 2023, as forecasted. Despite strong competition and volatile conditions, the company successfully maintained its profitable growth and defended its leading position in the global premium segment: A total of 2,554,183 premium vehicles were delivered to customers in the year to the end of December (2022: 2,399,632 units / +6.4%) ? including 717,620 units in the fourth quarter (Q4 2022: 651,794 units / +10.1%). Deliveries for the full year had a solid increase, resulting in a market share of 3.3%.

High demand for its products was the driver for the BMW Group’s continuing strong financial performance: The Group EBT margin came in at 11.0% (2022: 16.5%; Q4: 8.6%; 2022: 8.2%), above the strategic target of 10%. The EBIT margin in the Automotive Segment of 9.8% (2022: 8.6%; Q4: 8.5%; Q4 2022: 8.5%) was within the forecast target range of 9.0-10.5%. 

Throughout 2023, the company’s fresh and attractive range of fully-electric vehicles was a key growth driver. The BMW Group delivered a total of 375,716 fully-electric cars (2022: 215.752 units / +74,1%) to customers, achieving a share of around 15% of total sales, as planned. Including the PHEVs delivered, the BMW Group sold a total of 565,875 electrified vehicles (2022:433,792 units / +30.5%) and thus achieved a sales share of 22%.

The electrification of the vehicle portfolio contributes significantly to CO2 emissions reduction in the Group and also to the continued reduction of CO2 fleet emissions. In the European fleet, the BMW Group continued to reduce emissions in 2023: At 102.1 grams per kilometre of CO 2 (according to WLTP; 2022: 105 g/km / -2.8%), the preliminary figure was significantly below the target set by the European Union of 128.5 grams per kilometre.

“The year 2023 underlined how we are implementing our strategy consistently and successfully. We posted strong growth and substantially increased our percentage of fully-electric vehicles, while improving our operational profitability. A lot of people talk about ‘transformation’. For us, it’s more a question of continuous progress,” said Oliver Zipse, Chairman of the Board of Management of BMW AG, on Thursday. “We are advancing forward with our course – offering our customers the newest innovations and the latest technology, regardless of the vehicle’s powertrain. In this way, we aim to continue to deliver strong products for strong demand.”

Solid increase in Group revenues

Group revenues reported a solid increase in the full year and climbed to € 155,498 million (2022: € 142,610 million / +9.0% / adjusted for currency translation effects: +13.1%). 

In the period from January to December 2023, the revenues of BMW Brilliance Automotive Ltd. (BBA) were fully included; in the prior year, this was only the case from 11 February 2022 onwards, following full consolidation. This should be factored into the year-on-year comparison.

In addition to full consolidation, revenues were primarily driven by higher sales volumes and positive product mix effects. Higher interest rates and tailwinds from loan financing also contributed to the growth in revenues – which were impacted by currency headwinds from the Chinese renminbi and the US dollar. 

R&D expenses reach new high

Group research and development costs for the full year rose significantly to € 7,538 million (2022: € 6,624 million / +13.8%). In addition to development expenses for new models, like the new BMW 5 Series, the X3 and X5 (model update), Rolls-Royce Spectre* and future models for the NEUE KLASSE, R&D spending was primarily focused on further electrification and digitalisation of the vehicle portfolio and on automated driving.

The R&D ratio (according to the German Commercial Code) for the full year was 5.0% (2022: 5.0%) and therefore at the high end of the company’s long-term target range of 4.0-5.0%.

The BMW Group's capital expenditure increased in the full year to € 8,836 million (2022: € 7,791 million / +8.5%). Substantial investment was channelled into the electrification and autonomous driving modules, as well as setting up high-voltage battery production in various markets and plant construction in Debrecen, Hungary.

The capex ratio for the 12-month period came in at 5.7% (2022: 5.5%).

“We are making major investments in innovative technologies and electrification and digitalisation of our products and plants. We are investing in the future of the BMW Group and generate a strong free cashflow. Our strong financial performance paves the way for this. Our profitability today lays the foundation for our success in the future. Thanks to our highly efficient premium vehicles with leading technology, we aim to maintain our profitable growth in the future,” said Walter Mertl, member of the Board of Management responsible for Finance.

Group earnings (EBIT) significantly higher

The company's full-year earnings before financial result (EBIT) reflected the BMW Group’s strong operating performance: In 2023, EBIT climbed to € 18,482 million(2022: € 13,999 million / +32.0%). In addition to the full consolidation of BBA and higher vehicle deliveries, lower intersegment eliminations related to the leasing business also had a positive effect.

Between January and December, the BMW Group reported pre-tax earnings (EBT) of € 17,096 million (2022: € 23,509 million / -27.3%). Here, the negative fair value driven financial result of € -1,386 million (2022: € 9,510 million) reflects a corresponding base effect: In the prior year, the revaluation of BBA equity interests of € 7.7 billion, as part of the full consolidation, had significantly increased the BMW Group's financial result, Group earnings and Group net profit.

The EBT margin for January to December came in at 11.0% (2022: 16.5%).

Group net profit for the 12-month period amounted to € 12,165 million (2022: € 18,582 million / -34.5%). Without the one-time revaluation effect, Group net profit would have been higher year-on-year, with an EBT margin on par with the previous year.

Significant increase in Automotive EBIT in YTD December

In the Automotive Segment, full integration of the operating business of BMW Brilliance Automotive Ltd. (BBA), higher sales volumes and positive product mix effects boosted revenues for the 12-month period by 7.0% to € 132,277 million (2022: € 123,602 million / adjusted for currency translation effects: +11.3%), as did higher revenues from aftersales business. Negative currency translation effects, primarily from the Chinese renminbi and the US dollar, impacted revenue growth: Excluding these headwinds, revenues saw a significant increase of 11.3% for the full year.

Depreciation and amortisation from the purchase price allocation in connection with the full consolidation of about € 1.4 billion impacted the segment’s cost of sales for the full year as well as a slight increase in sales and administrative costs.

The Automotive Segment’s earnings before financial result (EBIT) for the full year were also significantly higher, at € 12,981 million (2022: € 10,635 million / +22.1%). A positive effect came from the full-year inclusion of the BBA result and from the net effect of volume, mix and pricing, driven by the higher sales volume and the higher share of top end as well as BMW M vehicles. However, headwinds resulted from higher research and development spending and increased manufacturing costs against 2022 as well as the higher share of electrified vehicles. The EBIT margin for this period was 9.8% (2022: 8.6%; +1.2 %-pts.). Excluding depreciation and amortisation for BBA assets from the purchase price allocation of € 1.4 billion previously referred to, the EBIT margin was 10.8%.

Thanks to this positive earnings development, the segment’s free cash flow amounted to € 6,942 million at the end of December (2022: € 11,071 million / -37.3%). The previous year included the positive one-time effect of around € 5 billion from the full consolidation of BMW Brilliance.

BMW AG share buyback programme continued

Based on the authorisation issued at the Annual General Meeting in May 2022, the Board of Management made the decision to buy back shares worth up to € 2.0 billion. During the initial share repurchase programme between July 2022 and June 2023, BMW AG repurchased a total of 22,199,529 shares of common stock for € 1,850 million and 1,923,871 shares of preferred stock for € 150 million. This is equivalent to 3.78% of the current share capital. In accordance with the Board of Management decision, all shares acquired were retired in the third quarter of 2023.

The second share buyback programme, worth up to € 2.0 billion, got underway in July 2023. By the end of 2023, BMW AG had acquired 4,218,363 shares of common stock and 942,892 shares of preferred stock. A total purchase price (excluding incidental acquisition costs) of around € 500 million was paid for the shares repurchased in this first tranche. This corresponds to 0.81% of the current share capital.

The second share buyback programme continued in January 2024 with the second tranche. As of 12 March 2024, the BMW Group had bought back 7,531,194 shares with a total value of € 734 million and thus holds 1.18% of the current share capital.

The second share buyback programme will be concluded no later than 31 December 2025.

Dividend of € 6.00 proposed

Shareholders will also participate in the success of financial year 2023. Subject to the approval of the Annual General Meeting, the company’s unappropriated profit (according to the German Commercial Code) of € 3,802 million (2022: € 5,481 million / -30.6%), representing a preliminary payout ratio of 33.7% (2022: 30.6%), will be distributed to shareholders from BMW AG’s net profit.

Taking into consideration the target range of 30-40% of net profit for the payout ratio attributable to the shareholders of BMW AG, the Board of Management and Supervisory Board will propose a dividend of € 6.00 per share of common stock (2022: € 8.50) and € 6.02 ?per share of preferred stock (2022: € 8.52) to the Annual General Meeting on 15 May. BMW Group employees will once again participate in the company's success in an appropriate way.

Stable earnings performance in Financial Services Segment

In the difficult competitive landscape of financial year 2023, BMW Group Financial Services reported slight growth in its volume of new business with retail customers, which increased to € 57,333 million (2022: € 55,449 million / +3.4%). Due to the improved product mix, the average financing volume per vehicle rose.

The number of new contracts concluded with retail customers reached the previous year’s level of 1,542,514 (2022: 1,545,490 contracts / -0.2%). At the end of the year, the penetration rate – the percentage of new BMW Group vehicles leased or financed by the Financial Services Segment – stood at 38.2% (2022: 41.0% / -2.8 %-pts.).

In the 12-month period, the segment reported pre-tax earnings of € 2,962 million (2022: € 3,205 million / -7.6%). This decline in earnings mainly resulted from higher refinancing costs and the smaller total portfolio of 4,952,318 retail contracts (31 Dec. 2022: 5,210,246 contracts / -5.0%).

BMW Group Financial Services benefited from continuing high income from the resale of end-of-lease vehicles – although this was less positive year-on-year and therefore had a dampening effect on earnings. Prices for used cars are likely to continue this trend in 2024.

Lower credit risk provisioning compared to the previous year had a positive effect. In 2022, credit risk provisioning had been heavily influenced by geopolitical uncertainties and weaker macroeconomic prospects.

The credit loss ratio for 2023 remained at the low rate of 0.18%.

“The Financial Services segment supports our sales growth with its financing activities and makes a major contribution to earnings. We will be integrating our financial services business even more closely into our sales processes and our ‘customer journey’ going forward. Digitalisation of our processes will play a key role in this. In all areas of the company, digitalisation and AI will contribute to greater efficiency, speed and value creation,” according to CFO Mertl. “Also in view of the upcoming demographic change, these two topics are essential for the BMW Group.” 

At 17.2%, return on equity in the Financial Services Segment for financial year 2023 (2022: 17.9% / -0.7%-pts.) was in line with the adjusted guidance of 16-19%.

Motorcycles Segment steps up deliveries again in centenary year

BMW Motorrad celebrated its centenary in 2023 with two limited edition models called “100 years”, three new models and four model updates. In its anniversary year, the segment also achieved a new all-time high, with a total of 209,066 motorcycles and scooters delivered to customers (2022: 202,895 units). This represents a slight increase of 3.0% and confirms expectations for the financial year.

In the 12-month period, BMW Motorrad revenues rose slightly to € 3,214 million (2022: € 3,176 million / +1.2%; adjusted for currency translation effects: +3.2%). The segment EBIT for January to December was € 259 million (2022: € 257 million / +0.8%) and therefore on a par with the previous year. The EBIT margin stood at 8.1% (2022: 8.1%).

BMW Group steers successful course in final quarter of the year

The BMW Group achieved dynamic growth in deliveries and a strong financial performance in the fourth quarter of 2023. It delivered 717,620 premium vehicles to customers (Q4 2022: 651,794 units / +10.1%), including 128,849 fully-electric vehicles (Q4 2022: 87,557 units / +47.1%).

Group revenues saw a solid increase in the fourth quarter to reach € 42,968 million (2022: € 39,522 million / +8.7%). Group research and development costs were higher in the final quarter of the year, at € 2,080 million (Q4 2022: € 1,739 million / +19.7%). The R&D ratio (according to the German Commercial Code) was stable at 5.9% (Q4 2022: 5.8% / +0.1 %-pts.). The BMW Group's capital expenditure totalled € 3,758 million (2022: € 3,111 million / +20.8%).

Group earnings before financial result (EBIT) of € 4,412 million (2022: € 3,500 million / +26.1%) were significantly higher year-on-year. Group earnings before tax (EBT) rose significantly in the fourth quarter to € 3,682 million (2022: € 3,253 million / + 13.2%). The EBT margin for this period was 8.6% (2022: 8.2).

Group net profit for the fourth quarter totalled € 2,614 million (2022: € 2,175 million / +20.2%).

Automotive Segment revenues posted solid fourth-quarter growth to reach € 37,283 million (2022: € 34,571 million / +7.8%; adjusted for currency translation effects: +12.2%).

Earnings before financial result (EBIT) showed solid growth in the fourth quarter to € 3,171 million (2022: € 2,932 million / +8.2%). The EBIT margin of 8.5% (2022: 8.5%) remained stable from the previous year, underlining the strong operating performance of the Automotive Segment in the final quarter of the year which showed the seasonally high cost burden.

Solid earnings development in the Automotive Segment resulted in a free cash flow of € 1,183 million in the fourth quarter (2022: € 1,195 million / -1.0%).

In the Financial Services Segment, the penetration rate climbed to 39.5% in the fourth quarter and has therefore maintained its growth trajectory (2022: 37.1% / +2.4 percentage points). The segment’s fourth-quarter pre-tax earnings (EBT) totalled € 511 million (2022: € 533 million / -4.1%). This slight decrease was due to higher refinancing costs and a smaller total portfolio.

Employee numbers higher year-on-year

The BMW Group had 154,950 employees at the end of 2023 (2022: 149,475 / +3.7%). This slight increase in employee numbers was mainly in development and IT, as well as in the BMW Group’s global production network.

Proposed re-election of supervisory board members

With the Annual General Meeting on May 15, 2024, the current mandate of Supervisory Board members Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka will come to an end. The Supervisory Board will propose re-electing Dr. h.c. Susanne Klatten, Stefan Quandt and Dr. Vishal Sikka for another four-year mandate.

You will receive further information on the Group Financial Statements 2023 and the outlook for the current financial year at the BMW Group Annual Conference on 21 March 2024. You can follow the virtual event from 9:00 am (CET) live in the internet at: https://www.live.bmwgroup.com/en/live-streaming/, followed by the live streaming of the Annual Conference Q+A with media from 10:30-11:30 am.

The live streaming of the Investor relations Q+A with analysts will be streamed from 12:30-01:45 pm at: https://www.bmwgroup.com/en/investor-relations/annual-conferences.html.

The BMW Group Report 2023 will be published on 21 March at 7.30 a.m. (CET) at https://www.bmwgroup.com/en/investor-relations/company-reports.html.

PNB Offers “Rakshak Plus Scheme” For Defence Pensioners

To reinforce its commitment towards providing special banking services for the armed forces, PNB, the nation’s leading public sector bank, is offering “PNB Rakshak Plus Scheme” for Defence Pensioners. 

All Defence Service Pensioners, regardless of age, whose pensions are credited to their PNB account through SPARSH/CPPC, are eligible for the benefits of Personal Accidental Insurance under the PNB Rakshak Plus Scheme.

This benefit also extends to pensioners of Central & State Police. Some of the main features of the scheme include:

Personal Accidental Insurance (PAI) (Death Cover):          Rs 50 Lakh

Personal Accident Permanent Total Disability (PTD):        Rs 50 Lakh

Personal Accident Permanent Partial Disability (PPD):     Up to Rs 50 Lakh

Air Accidental Insurance (AAI) (Death Cover):                    Rs 1 Crore

Additionally, the scheme offers many other facilities. For further information, customers can contact the bank via the toll-free numbers 1800 1800/1800 2021 or visit the nearest PNB branch.

Customers can also access information by logging into the mobile banking app PNB ONE or visiting https://www.pnbindia.in/.

SIDBI’s EWEE Initiative: Empowering The Women Of Rural Bharat Through Electric Mobility

With an aim to accelerate the deployment of electric vehicles in line with EV30@30 and increase the adoption of EVs in Rural BHARAT, Small Industries Development Bank of India (SIDBI), the country’s principal financial institution for MSMEs, announced a developmental support to empower women in form of blended finance funds such that credit access by rural women aspirants is eased. In partnership with Self-Employed Women’s Association (SEWA) and partnered NBFCs the scheme brings different partners such as OEMs, NRDC and DFI on board.

The current programme called EWEE (Empowering Women and Enhancing their Business through E-Mobility) was announced by Chairman and Managing Director, SIDBI, General Secretary, SEWA, MD, Revfin, MD AMU in presence of leasing, and representatives from OEMs, NRDC, SEWA members and other stakeholders in an online event attended by over 100 participants including.

The scheme has been formulated as an extension to the first-of-its-kind rural e-mobility demonstration pilot (for supporting women entrepreneurs launched by SIDBI, SEWA and Natural Resources Defence Council (NRDC) on January 25, 2024. The pilot was aimed to increase transportation equity, improve air quality, and enhance rural livelihoods through the adoption of EVs. 

E-WEE will support inspirational and aspirational SEWA sisters initially in the two states i.e. Rajasthan and Gujarat. Thereafter it will be scaled to other states. The outcome will provide invaluable insights for formulating future national and state-level policies for electric mobility adoption in rural India. Another potential outcome can be alleviating the perceived risk among the potential adopters and financial institutions resulting in increased financial products, thereby boosting the adoption in real India improving quality of life and more employment opportunities. After this step SIDBI and SEWA shall work on risk mitigant models to induce credit flow. 

Shri Sivasubramanian Ramann, CMD, SIDBI said “The rural India is critical for the nation's development and the women are the backbone of it. The empowerment of women at the grassroots level is important to build the nation. One of the many ways to empower women is to improve the mobility options in rural parts to encourage them to start their businesses, job opportunities, etc. The role of SEWA to bring these entrepreneurs together to support their journey and build a community that supports each other as well is laudable. To manage the community of the SEWA sisters spread across vast geographies of India and spreading awareness among them is a humungous task but the enthusiasm of SEWA sisters to support each other under the guidance of SEWA leadership is making it possible.”

CMD SIDBI advised that phase 1 target of rural e mobility should be fifty thousand 2 and 3 e wheelers. 

The E-WEE project brings the firm intent to ease mobility of women entrepreneurs of SEWA by providing access to affordable finance to purchase electric two-wheelers with the support of Revfin and AMU Leasing Pvt Ltd. The scheme will serve a multi-purpose i.e., it will increase access to affordable finance, second it will also empower the women by having ownership of the green asset and encourage other women to switch or adopt the clean mobility options.”

Jyoti Macwan, Secretary General, SEWA said “The SEWA sisters appreciate the efforts made by SIDBI to bring down the financial cost of owning vehicles for the sisters through the project. We also thank the OEM partners and the NBFCs implementing this project. The steps taken to support and promote these entrepreneurs are important for society as well as the economic growth of the country. We are also targeting the uptake of 50,000 electric vehicles among the SEWA sisters within a year.”

The participants specially OEMs & NBFC interacted with SEWA and CMD, SIDBI to make this project more successful and future targeted interventions. One of the suggestions was to create a complete ecosystem for the electric two and three-wheelers by imparting training to SEWA sisters to repair the vehicles as well. Since, these sisters are based in different villages and the dealers might not be present everywhere, it is imperative to make these sisters self-sufficient. This will not only increase employment opportunities but also increase the confidence of potential users of electric vehicles. A collaborative effort needs to be made among different stakeholders i.e., SEWA sisters, OEMs, and NBFCs to accelerate the adoption. One of the suggestions was to use the electric three-wheelers for different business opportunities. These will improve the swift access of the services to the people living in the villages. It also came forth that different business opportunities leading to rural employment and income can be woven around EV eco system. 

It is also worth mentioning that SIDBI’s mission 50KEV4ECO under the guidance of NITI Aayog is creating a visible impact. Few key initiatives taken for EV adoption include (i) under 50KEV4ECO two schemes viz. Direct lending and Indirect lending to NBFCs, assistance is provided to several Fleet operators, charging companies, swapping companies & NBFCs. (ii) SIDBI has Operationalised pilot Electric Vehicle- Risk Sharing facility (EV-RSF) with the support of Shell Foundation for e-2w and e-3w. (iii) for deepening understanding e-book on Unlocking e-Mobility* [https://www.SIDBI.in/green-pathways-e-series.php] had been released. 

Further, SIDBI is working with multilateral/ bilateral to shape various instruments for EV adoption by improving the access to finance as well as move the market towards sustainable financing options and also with other philanthropic organisations.  To get ahead of the curve in terms of adoption happening in the leading countries, SIDBI is working on tailor-made financing products as per requirement of stakeholders.

Mr Sameer Aggarwal, Founder & CEO, Revfin and Ms Nehal Gupta, Director, AMU leasing Private Limited presented scheme details and way forward to scale the collaboration at PAN India. SIDBI’s empanelled partners NBFCs will aid SEWA sisters at affordable rates and concessional terms using blended credit support from SIDBI. Mr, Nitish Arora, NRDC shared its priority on building enterprising rural ecosystem. SIDBI CGM for Green Climate Finance, Dr. R K Singh took each participant through SIDBIs developmental & financial bouquets aimed at turning the enterprise eco system green and how women are being prioritised for building the green enterprise eco system. 

About Small Industries Development Bank of India (SIDBI):

SIDBI is the Principal Financial Institution for Promotion, Financing and Development of the MSME sector. SIDBI has been playing a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working towards Energy Efficiency (EE) in MSMEs since 2005-06 using support of multilateral institutions like World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. Furthermore, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative, and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly impacted the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures.

To know more, check out: https://www.SIDBI.in  

Uber’s Zero Emission Push - Announces Winner of Rs 1 Crore Startup Challenge

*   AHODS Technologies wins grand prize at the finale of Uber Sustainovate

*  Startup challenge to encourage efforts by Indian companies towards building  sustainable mobility solutions for India

* Breakthrough sustainability start up campaign supported by nasscom AI & Startup India 

Uber today announced the winner of 'Uber Sustainovate’, its Startup Challenge looking for innovative solutions to fast track the adoption of sustainable mobility in India. Uber awarded Gurgaon-based startup AHODS Technologies the grand prize of $120,000 (~ Rs 1 crore) for its on-demand hydrogen retro-fitment kit, aimed at helping address India’s sustainability goals.

The winner’s cheque of $120,000 was handed over to the winner by Shri MB Patil, Honorable Minister of Industries, Government of Karnataka.

Speaking at the occasion Honorable Minister for Large and Medium Industries, Govt of Karnataka Shri. MB Patil said “Uber Sustinovate is not just an event; it is a medium of hope and a testament to the possibilities that lie ahead in our journey toward a greener future. The challenge laid out today—to find the most innovative solutions that steer us towards zero tailpipe emissions—is critical. It mirrors our own aspirations within Karnataka and, by extension, India, to cultivate a landscape where sustainable mobility is not just an option but a way of life”.

The competition, in partnership with Startup India and nasscom AI, was designed to award startups that produced the best workable ideas that would help accelerate the transition to sustainable mobility in the country. The top 3 companies will receive mentorship from Uber India’s tech leadership on best practices, innovation and scaling.

Commenting on the startup challenge, Manikandan Thangarathnam, Senior Director of Engineering, and Head of the Bangalore Tech Center, Uber said, “We saw a whole host of bright and futuristic ideas from over 140 startups from all parts of the country. It’s extremely encouraging to see Indian startups lead innovation globally in terms of sustainable mobility, and we’re glad to be able to support them in their endeavour. This goes with our vision and mission to have net-zero emissions by 2040 globally.”

Pune-based Govidyouth Mobility Pvt Ltd, with its innovative EV range extender was second, while Gurgaon-based Metz Energy Pvt Ltd’s e-trike (tricycle) with a dedicated loading bay was adjudged as the third-best solution around sustainable mobility. Uber Sustainovate received applications from over 140 startups in the country, which went through 3 rigorous jury rounds with founders fielding questions on vision, profitability, practicality, and the uniqueness of the solution, among others.

As the leading ridesharing company, Uber is committed to achieving net-zero emissions by 2040 and has been continuously working with Governments, partners, think-tanks and others to address global sustainability challenges. With the aim to promote an ecosystem where startups are incentivised to work on emergence of sustainable solutions, Uber Sustainovate was designed to provide a platform for visionary startups that are eager to turn their ambition to action.

Uber has taken various steps over the past years in its push to net-zero emissions, including placing India’s largest ever EV order, with Tata Motors, for 25,000 Xpres-T compact sedans to be delivered by 2025, while also signing MoUs with EV financing companies, and charging infrastructure companies.

Indkal Technologies Introduces Its 2024 Line-Up Of Acer Air Conditioners, Setting New Standards In Home Cooling

Indkal Technologies Private Limited, the official licensee for Acer Home Appliances in India, is delighted to announce the launch of its much-anticipated 2024 line-up of Acer Air Conditioners. Crafted to redefine home cooling experiences, these air conditioners are available in 1.0 TON – 3 & 5 Star, 1.5 TON – 3 & 5 Star, and 2.0 TON – 3 Star capacities, featuring state-of-the-art technologies including ArcticWrap Cooling, AiSense, and CoolSphere airflow management. The new range of Air Conditioners will be initially available across offline retail channels across the nation, prioritizing an immersive consumer experience.

For the first time in India and an industry first feature, the Acer Air conditioners come with a 7-in-1 Convertible technology, that allows the users to transform and adapt the cooling to their requirements. In addition to this, the ACs are enabled with Arctic Wrap Cooling, that provides powerful and reliable cooling up to temperatures of 55 degree Celsius. The Acer ACs intelligent AiSense technology enables these machines to provide adaptive cooling intelligence that adapts to user preferences and optimises cooling settings based on the ambient temperature, and reduces overall energy consumption, electricity bills and provides low AC noise. The CoolSphere Airflow provides comfort with its 3D Cooling Dive to give the best possible cooling atmosphere in the living space.

These ACs are the perfect example of innovation meeting an aesthetic design, with a sleek and minimalistic appeal. Notably, one design incorporates an ergonomic LED display, marking the first instance of such a feature in the Indian market.

Mr. Anand Dubey, CEO of Indkal Technologies Pvt Ltd, shared his enthusiasm for the launch, stating, "We are thrilled to introduce the 2024 line-up of Acer Air Conditioners, which represents a significant leap forward in our mission to provide technologically advanced and reliable cooling solutions to households across India. Our dedication to innovation and customer satisfaction drives us to continually push boundaries and exceed expectations.

"Mr. Dubey further elaborated on the company's vision, adding, "At Indkal Technologies Pvt Ltd, we are not only committed to delivering exceptional products but also to establishing a comprehensive service network that ensures our customers receive prompt and personalized assistance whenever needed. We understand the importance of reliability and peace of mind, and we strive to uphold these values in every aspect of our business."

Highlighting the company's commitment to local manufacturing and adaptability, all models in the 2024 line-up are proudly Made in India. Engineered to withstand the diverse climatic conditions prevalent across the country, these air conditioners guarantee superior performance and durability.

The price range of the ACs are as follows:

Acer AC 1.0 Ton (3 Star) - INR 29,999

Acer AC 1.0 Ton (5 Star) - INR 33,999

Acer AC 1.5 Ton (3 Star) - INR 32,999

Acer AC 1.5 Ton (5 Star) – INR 37,999

Acer AC 2.0 Ton (3 Star) – INR 44,999

Acer AC 1.5 Ton (Window AC) – INR 28,999

There will be additional Discount offers / EMI Schemes and Bank Card offers.

About Indkal Technologies Private Limited:

Indkal Technologies Private Limited is a technology and innovation company based out of Bengaluru. Indkal excels in delivering, high-quality and revolutionary products across a wide spectrum of consumer electronics and appliances. Founded in the year 2020, the company’s mission is to provide prudent, high-quality, and contemporary products to the growing Indian consumer market.  

Quantum Energy Inaugurates New EV Showroom In Coimbatore

* With the inauguration of the Coimbatore showroom, Quantum Energy boosts its pan India network to an impressive total of 61 showrooms

Quantum Energy, a leading electric vehicle (EV) startup specializing in the design, development, and manufacturing of electric scooters, has announced the inauguration of its new showroom in Coimbatore, Tamil Nadu. This new addition marks the 2ndEV two-wheeler showroom in the state, further expanding Quantum Energy’s presence and accessibility to Indian customers.

The showroom inauguration took place in the presence of Mrs. Sangeeta Chetan, CEO, Zaveri Bros. Coimbatore, Mrs. Shama Adeka, Architect and Entrepreneur, Ideal Stores Coimbatore, Mrs. Sadhana V. Shankar, Advocate, Partner-M/s Ramani & Shankar Coimbatore, Dr.V. Tamil Selvi, MBBS, DNB, MAAMS (Gen Surgery), M.D. Shri Sakthi Nursing Home Pvt. Ltd., Mrs. Pavithra Reddy, Managing Partner, Thanya Motors, Chennai, and esteemed dignitaries and senior officials from Quantum Energy. The newly inaugurated showroom operates under the dealership name Mayuravalli Eco Wheels. The strategically positioned showroom provides a convenient hub for customers to explore Quantum Energy’s cutting-edge electric scooters and firsthand experience their advanced features.

At the Mayuravalli Eco Wheels showroom, all Quantum Energy electric scooters are prominently displayed, allowing visitors to marvel at the impeccable design, impressive performance, and exceptional build quality of each vehicle. The diverse lineup of electric scooters includes the Plasma, Elektron, Milan, and Bziness range, catering to a wide range of commuting needs for Indian consumers.

Specifications of the showcased electric scooters:

*       Plasma X – Powered by a 1500 W motor; top speed of 65 km/h; offers an impressive range of up to 110 km on a single full battery charge. Price – INR 1,19,525 Ex-showroom

*       Plasma XR - Powered by a 1500 W motor; top speed of 60 km/h; offers an impressive range of up to 100 km on a single full battery charge. Price – INR 99,757 Ex-showroom.

*       Elektron – Equipped with a 1000W motor; top speed of 60 km/h; provides a range of up to 100 km on a single full battery charge; Price – INR 92,055 Ex-showroom

*       Milan – Driven by a 1000W motor; top speed of 60 km/h; offers a range of up to 100 km on a single full battery charge; Price – INR 87,896 Ex-showroom

*       Bziness – Empowered by a 1200W motor; top speed of 55 km/h; provides a range of up to 110 km on a single full battery charge; Price – INR 98,291 Ex-showroom

Speaking about the launch, Mrs. Chetana C., Director of Quantum Energy Limited, expressed, With the opening of our new store in Coimbatore, we are excited to increase our presence in Tamil Nadu even further. It is quite promising that there is a rising interest in electric two-wheelers in the state. Numerous cutting-edge features of our Quantum Energy scooters strongly appeal to all market sectors. Our commitment to making our cutting-edge electric scooters more accessible to the public is fueled by the growing demand for environmentally friendly mobility options. We are currently trying to create more showrooms in Tamil Nadu to accommodate this demand and make our eco-friendly mobility products more easily accessible.

Quantum Energy has expanded its network of showrooms around India to an amazing 61 with the opening of the Coimbatore showroom. With the support of the prestigious Kusalava Group, which has over 50 years of experience in the automotive industry, Quantum Energy is committed to reducing carbon emissions, reducing its carbon footprint, and making India a leader in sustainable mobility worldwide.

About Quantum Energy 

Quantum Energy, committed to contributing to enabling the adoption of electric vehicles in India is an electric vehicle firm that is into the design, development, and manufacturing of electric scooters with the Research and development center and manufacturing facility at Hyderabad. With founders from a strong automotive background of 5 decades, Quantum’s passionate offering spans across a range of vehicles.

For more info, please visit https://www.quantumenergy.in

India Is Glancing: Over 235 Million Active Users Explore Trending Content And Experiences On Their Glance Smart Lock Screens

Glance Smart Lock Screen Trends Report India 2024 captures the unique content consumption trends on Smart Lock Screens

Report finds that LIVE finds a new destination on Smart Lock Screen  

National News, Sports, and Entertainment are the top three content categories on Smart Lock Screen 

Content in regional languages receives 2x more engagement as compared to those in English

Glance, one of the world’s leading Smart Lock Screen platforms, has released the Glance Smart Lock Screen Trends Report India 2024, which highlights a significant shift in user engagement with digital content. The report finds that rise of ‘glancing’ has emerged as a phenomenon for discovering personalized content and experiences on Smart Lock Screen. This trend, observed among 235 million active users on the platform, offers a fresh approach to content consumption compared to traditional app-based browsing. It effectively tackles issues such as information overload, irrelevant content, and app fatigue. 

Text Box Since its inception in 2019, Glance has revolutionised content discovery for hundreds of millions of users, by providing personalised content on their smart lock screen. The report highlights that users across the board are increasingly turning to their Glance Smart Lock Screen to get LIVE updates of major premium events, for which television used to be a preferred medium not long ago. For instance, from IPL and Cricket World Cup to FIFA WC Qualifiers, Men’s Kabaddi and Women’s cricket, Glance Smart Lock Screen provided real-time updates to millions of sports lovers through 2023. During IPL and Cricket World Cup alone, the live score widget provided on the Glance Lock Screen attracted an impressive 3.5 million daily active users (DAUs). Similarly, Glance also presented exclusive content and LIVE shows on the iconic reality TV show, Bigg Boss Season 17, generating 6 billion glances throughout the season.

The report highlights another compelling trend, which is the active pursuit and engagement of users with content in their preferred languages. Content served in regional languages received nearly 550 million ‘glances’ from users on a daily basis. Notably, among the top 25 content pieces in the last year, 10 were regionally centered on subjects like news, movies, and local topics. Users tapped into regional language content almost twice as much as English content, underscoring the growing demand for personalized linguistic experiences.

Regarding user consumption, the top three content categories were national news, sports, and entertainment, accounting for 19%, 18%, and 16% respectively. National events like G20 and Chandrayaan served 4 billion and 2 billion glances respectively, emphasizing that the country’s advancement on the global stage generates great enthusiasm among Indian users.

The report found that 55% of the users who accessed content on their mobile lock screens were from tier-1 cities while tier-II and III cities are also fast catching up with 45% share. In terms of demographics, ‘glancing’ as a phenomenon has spread to different age groups though it’s heavily tilted towards users in the age group of 24 and below with a share of 47%. In terms of gender, male population are more inclined to discover and consume content on their Smart Lock Screens than female, with a ratio of 61:39, the report found.

Bikash Chowdhury, Chief Marketing Officer, Glance, said, “With over 235 million Indians engaging with content and internet experiences through their Smart Lock Screens, Glance is uniquely positioned to understand the pulse of the users across the nation. Our Glance Smart Lock Screen Trends Report India 2024 captures these distinctive user habits, throwing light on this dynamic space and showcasing how Glance enriches every moment of their lives. As we progress, we remain dedicated to delivering intuitive experiences that align with our users' discernment, intelligence, and foresight, ultimately enhancing the broader ecosystem."  

Glance empowers the entire ecosystem including advertisers, brands, and developers, by providing them with a user-friendly, relevant, and premium Lock Screen surface. This offers them a unique opportunity to enhance consumer engagement on devices through innovative experiences. These experiences not only promote content consumption but also encourage active participation, enabling users to explore new destinations via Glance. Over the past year, Glance has collaborated with more than 300 advertisers, brands, and developers, facilitating connections with their audiences nationwide.

Vasuta Agarwal, Chief Business Officer, InMobi Group said, “With India's shift to a mobile-first market, consumer interaction dynamics are rapidly evolving. Users seek seamless experiences, valuing instant access to information, services, and entertainment even before unlocking their smartphones. This transformation highlights the lock screen's newfound significance as a dynamic platform for brands and advertisers to engage meaningfully with consumers." 

With over 80% surge in content consumption, navigating in today’s information heavy world becomes a daunting task. The typical smartphone experience involves switching between countless apps, resulting in user fatigue and a staggering 75% drop off within the first day for most apps. Glance, an AI-driven platform, aims to change this landscape. Operating directly on Android lock screens across 20+ content categories (such as news, sports, instant games, entertainment, fashion, and more), Glance offers easy, relevant, premium content and experiences on Smart Lock Screens. Glance achieves this?without users needing to unlock their phones or download multiple apps or spend time searching for content.

Last year, Glance made its debut in Japan, and the platform is now expanding its presence to other regions globally.

*glances - number of times the Glance card was seen 

About Glance

Founded in 2019, Glance is a consumer technology company that operates disruptive digital platforms including Glance, Roposo, and Nostra. Glance’s ’smart lock screen’ inspires consumers to make the most of every moment by surfacing relevant experiences without the need for unlocking their phones, downloading apps, or searching for content. Glance Lock Screen is currently available on over 450 million smartphones worldwide.?Roposo is a LIVE platform that is revolutionizing live experiences, through a unique, immersive, creator-led approach. Nostra is the largest gaming platform in India and Southeast Asia, offering gamers engaging ways to discover, play, watch, learn and compete. Headquartered in Singapore, Glance is an unconsolidated subsidiary of InMobi Group and is funded by Jio Platforms, Google, and Mithril Capital. For more information visit glance.com, roposo.com and inmobi.com .

Atlassian Enables Teams To Collaborate Seamlessly Using Advanced AI And Visual Tools

* The company’s work management products - Loom, Trello, and Confluence - add new features

Atlassian Corporation (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, has introduced new AI-powered capabilities to Loom, an asynchronous video communication tool, and Trello, a visual personal productivity tool. It also announced the general availability of Confluence whiteboards, a freeform canvas feature in its popular Confluence product. The features are aimed to make it easier to collaborate visually for a variety of tasks - from weekly meetings/catchups, to tracking the progress of a project, to brainstorming new ideas.

Erika Trautman, Head of product, Work Management, Atlassian said, “As employees seek new ways to connect, the use of visual collaboration tools is on the rise. Video, digital canvases, and other non-text content types are enhancing or replacing written updates. At Atlassian, we’re enabling this richer, more visual experience with our work management products.”

“The new AI features in Loom and Trello will drive meaningful collaboration and increase personal productivity in the age of distributed work. And when it comes to Confluence whiteboards, we’re just getting started and look forward to sharing more about our plans to bring the power of AI to this tool in a few months,” she added.

New AI-powered features in Loom help create and share video updates faster

Loom, recently acquired by Atlassian, is an asynchronous video communication tool that lets people record and share themselves and their work. More than 200,000 teams use Loom to collaborate at work.

Loom AI was introduced last year with time-saving features like auto-generated titles, chapters, and summaries for each video message. The three new Loom AI features that will help share Loom videos 60% faster, include:

Auto Message Composer: Writes a message to create the perfect context for sharing the video.

Auto CTA: Automatically suggests a custom call-to-action button on a finished video.

Edit by Transcript: Swiftly removes any unwanted filler words or pauses after a video is recorded.

Gen AI in Trello to boost personal productivity

Atlassian Intelligence for Trello, now available in beta, can generate new content, summarize or shorten the content that is already there, find action items in the content, and improve spelling and grammar.

Atlassian has also introduced colored and collapsable lists in Trello for better organisation and refreshing visual makeover.

Confluence whiteboards captures free-flowing thoughts and ideas

Now generally available, Confluence whiteboards provides freeform surfaces designed to capture unstructured work like brainstorming and early planning before it is documented on a Confluence page. While it has all the features of a traditional whiteboarding tool, what sets it apart is its close integration with Jira.

More than 36,000 organizations, including Pizza Hut, Panera Bread, and Lumen, participated in the beta program, and their valuable feedback helped steer many of the new features that will soon be available in Confluence whiteboards, including external collaboration using public links.

While there is still a time and place for traditional collaboration methods, like synchronous meetings and sharing a written page, new content types can elevate the experience with personalization and visualization. Optimizing the old ways of working while embracing the new will set teams up for success in the era of distributed work.

For further details on the announcement, please visit the blog - https://www.atlassian.com/blog/announcements/visual-collaboration

About Atlassian

Atlassian unleashes the potential of every team. Our agile & DevOps, IT service management and work management software helps teams organize, discuss, and complete shared work. The majority of the Fortune 500 and over 265,000 companies of all sizes worldwide - including NASA, Audi, Kiva, Deutsche Bank and Dropbox - rely on our solutions to help their teams work better together and deliver quality results on time. Learn more about our products, including Jira Software, Confluence and Jira Service Management at https://atlassian.com.

BMW Motorrad Track Training Program 2024 Announced Across Indian Market

Exclusive two-day training program for BMW Motorrad riders.

#BMWMotorradTrackDay #BMWMotorradIndia #MakeLifeARide #NeverStopChallenging

BMW Motorrad India announced its most awaited BMW Motorrad Track Training program in India. The two-day training program will be held at the Buddh International Circuit, Greater Noida, Uttar Pradesh on 23-24 March 2024 followed by another set on the 20 -21 April 2024.

BMW Motorrad Track Training program will enable riders to improve overall riding skills and understand the limits of their BMW Motorrad bikes. Divided into Level 1 and Level 2 sessions, participants get exclusive training by professional instructors in a controlled environment.

Mr. Vikram Pawah, President, BMW Group India, said, “At BMW Motorrad, we are committed to not only delivering exceptional motorcycles but also enhancing the overall riding experience for riders. BMW Motorrad Track Training program is an unparalleled opportunity to elevate one’s riding prowess to new heights within a span of just two days. We aim to provide an environment where BMW Motorrad riders can safely push their limits, learn from the best in the business, and experience the thrill of riding on a world-class racing circuit.”

BMW Motorrad Track Training modules alternate between 6 theory and 6-8 track practice sessions. Participants will have the opportunity to learn from some of the most skilled trainers with 12+ years’ experience and National Championship titles. The curriculum covers everything from basic handling and maneuvering to advanced racing techniques. Sessions are based on understanding and mastering techniques of braking, balance, vision, cornering, and throttle control. This professional training program is suitable for beginners all the way up to the racer level.

For registration and more information, please contact the nearest authorised BMW Motorrad Dealership.

The following regulations apply-

Exclusive to BMW Motorrad riders who own BMW S 1000 RR, BMW S 1000 R, BMW S 1000 XR, BMW F 900 XR, BMW F 900 R, BMW G 310 R and BMW G 310 RR.

Participants are required to hold a valid driver’s license (at the time of the event).

Participants should get their motorcycle serviced before participation.

The organizers are entitled to exclude vehicles that are not fit for the ride.

All riders must be equipped with suitable track riding gear.

A full leather racing suit is a must.

Road racing Helmet with double D ring without any damages (ECE Snell certified).

Road Racing boots.

Full gauntlet road racing gloves.