TVS Emerald Acquires Two Land Parcels; Announces its Foray into Bengaluru Residential Market

TVS Emerald, the real estate arm of TVS Group, today announced their foray into the Bengaluru market with the acquisition of two land parcels at Hosur Road and Kanakapura Road. The land parcel on Hosur road, near Manipal country, will be developed into an aspirational high-rise apartment community over 6 acres targeting younger professionals.  The project offers good connectivity to Electronic City, Bannergatta Road, Sarjapur Road and Koramangala. It is strategically located close to office spaces as well as the proposed metro line.

At Kanakapura Road, TVS Emerald will develop a gated community, comprising villas and row houses spread across 6.4 acres. Located in a serene area near the  Art of Living institution, amidst lush greenery, the community will boast of world class amenities offering customers a unique lifestyle and good connectivity. The project is located close to IT office spaces in Bannergatta Road, Mysore Road, Electronic City as well as industrial parks in Bidadi and Jigani.

‘’Over the past 6 years, TVS Emerald has been developing projects across Chennai and is developing about 6 million square feet. We are committed to offering aspirational living with world-class amenities delivered on time. We are happy to bring the same values to Bengaluru and develop projects which nurture nature to create a world of healthy living. Our projects will bring international design to the Bengaluru market, combining the best of urban living and high-quality lifestyles,’’ said Mr. Rajaraman, Executive Vice-President, TVS Emerald.

Come and Study in India: US India Envoy Tells American at UGC

India is poised to become a five trillion dollar economy in the next five years and aspires to become a ten trillion dollar economy in the next eight years thereafter

India saw its best phase of macro-economic stability in the past five years and is set to become the fifth largest economy in the world by the end of this year, the country's top diplomat in the US has said, urging the young American students to come and study in India.

Speaking at the ongoing 71st Annual Conference and Expo of Association of International Educators, India's ambassador to the US Harsh Vardhan Shringla said the University Grants Commission (UGC) is a statutory organisation established for the coordination, determination and maintenance of standards of university education.

The UGC even hosts the list of fake education institutions in India on its website so that there is no fraud with the students, he said.

"You are guaranteed of the excellent quality education as we have a robust ranking/accreditation system, which you may study while taking admission in Indian University," Shringla said Tuesday.

"Look at the other advantages of studying in India; you will be part of fastest growing major global economy. Studying for short term or long term in India would provide students with an opportunity to understand the government systems, culture, and markets closely," he said.

It would provide the international students with a unique perspective and understanding of India that would be useful in their careers in the business, government or non-profit sector, he said.

Shringla said that India witnessed its best phase of macro-economic stability in the past five years.

"From being the 11th largest economy in the world in 2013-14, we are heading to become fifth largest economy in the world by end of this year," he said.

In Purchasing Power Parity terms, today, India is the third largest economy in the World, after China and the USA, he said.

India is poised to become a five trillion dollar economy in the next five years and aspires to become a ten trillion dollar economy in the next eight years thereafter.

"Due to a stable and predictable regulatory regime, growing economy and strong fundamentals, India could attract massive amount of Foreign Direct Investment (FDI) during the last five years - as much as USD 239 billion," he said.

"This period also witnessed a rapid liberalisation of the FDI policy, allowing most FDI to come through the automatic route. The last five years also witnessed a wave of next generation structural reforms, which have set the stage for decades of high growth," said the Indian Envoy.

Indian Education system is the world's third largest higher education system with 907 universities, 43,000 colleges and a capacity of enrolling more than a whopping 30 million students, the envoy said.

Shringla said the higher education institutions in India offered courses and degrees that are competitive in the world market in terms of quality but are delivered at one-fourth the cost.

The Indian education system is vast in size, as well as its academic offerings.

It ranges from exposure to the latest advancements of science and technology like Virtual and Augmented Reality, Artificial Intelligence and Cognitive Computing to Yoga, Ayurveda, Sanskrit, languages and classical music and dances.

This vastness of the Indian education system directly translates to enhanced opportunities for its students and global learning for an all-round academic and personal development, the envoy said.

A burgeoning IT and Services sector have led to a robust placement-oriented education as about 200 of the Fortune 500 companies hire regularly from Indian campuses, Shringla said, adding that India has been and continues to be home to innovation, creativity and leadership.

The strength of India's education system may be gauged from the fact that the world's leading companies are being led by students of Indian education system, he said.

To give you a few examples - CEO Microsoft Satya Nadella is an alumni of Manipal Academy of Higher Education, CEO, Google Inc Sundar Pichai studied at Indian Institute of Technology, Kharagpur and Indira Nooyi, CEO of Pepsi Co is an alumnus of Indian Institute of Management, Calcutta, Shringla said.

TOEFL to Undergo Revamp from August 2019 To Meet Changing Demands of System

The Test of English as a Foreign Language (TOEFL) is set to undergo a revamp from August with the duration shortened and scores mentioning the best sections of an individual’s test if the exam is taken more than once.

The Educational Testing Services (ETS), known for conducting the global TOEFL and GRE tests, is working on making changes in the test in sync with the changing demands of the educational institutions.

“A growing number of institutions are acknowledging the value of seeing applicants’ best section scores when they take a standardised test more than once. We also know that our test takers want an English language test that helps them stand out to admissions officers,” said ETS’ Srikant Gopal, Executive Director of TOEFL Programme.

“The changes which will come in effect from August,” he added.

The Stipends Commanded by Apprentices in Bangalore is 35% Higher than Minimum Wages:Teamlease Reports

The growing demand for skilled talent coupled with revisions in the apprenticeship act seems to be positively impacting the apprenticeship eco-system states TeamLease Skill University Stipend Primer Report. According to the report, the stipend paid to apprentices in Bangalore is 35% higher than the applicable minimum wages. Amongst sectors, Automobile and Allied industries (57%), Manufacturing and Allied Industries (54%), Electronics and Electricals (52%), Tourism and Hospitality (87%), Consumer Goods and Durables (39%), Construction and Real Estate (123%) and Financial Services (61%) are the top paying sector for apprentices in the city.

Further, as per the analysis post graduate and engineering graduates are paid significantly higher stipends than diploma holders in Bangalore. Trade and tech apprentices are paid significantly higher in sectors like Construction and real estate.

Commenting on the analysis, Mr. Sumit Kumar, Vice President, TeamLease Skills University, said “Bengaluru is one of the cities wherein both manufacturing and service industry have been receptive to the concept of apprenticeship, however, owing to the huge variations in the stipend paid by different sectors the median stipend provided in the state is below the national median stipend. We are confident in the coming years this will change. More and more companies now understand the relevance of apprenticeships; hence there will be an increase in demand and adoption. This will lead to a potential increase in the media stipend payouts in the state.”

At national level also as per the analysis the stipends offered to apprentices are higher than the minimum wages. In fact, the median stipend is around 35% higher than the applicable minimum wages in majority of the sectors and cities. Further, as per the study apprentices who are under the Other Employability Schemes (OEES, which comprises programs such as NETAP – National Employability through Apprenticeship Program) received a higher stipend (7.66% higher) than the stipend paid under the Apprenticeship Act.

KEY FINDINGS OF THE SURVEY

* Other Employability Schemes (OEES) pay 7.66% higher than the stipend paid under the Apprentices hip Act
* Market stipends (as per Apprentice Act) are 23% higher for Technical graduates than for non Technical apprentices; OEES stipends are higher for Technical graduates in 6 of the 9 cities covered by the study.
* The apprenticeship market has matured and pays out handsome stipends at a significant premium over minimum wages.
* Top sectors and states (premium paid over minimum wage)
* Top sectors: Construction & Real Estate (125%), IT & ITeS (122%), FMCG (110%), Automotive (82%)
* Top states: Maharashtra (159%), Andhra Pradesh (132%), Tamil Nadu (112%), Gujarat (84%)
* Manufacturing and Services sectors both pay fairly high stipends in the average range of Rs.9,000 – Rs.10,000 per month.
* The Services sector pays marginally higher stipends compared to the Manufacturing sector (median measure)
* The Services sector pays a median stipend 1% (OEES) | vis -a- vis Apprenticeship Act
* The Manufacturing sector pays a median stipend of 1.5% (OEES) | vis-a -v is Apprenticeship Act
* Top 3 Manufacturing sectors: Construction/Building , Automotive & Allied Industries, Electrical & Electronics
* Top 3 Services sectors: Tourism and Hospitality, Banking & Financial Services, Consumer Products / FMCG
* It would be more attractive for candidates to move from the main hub cities to satellite cities / towns (when stipends between the two regions are compared by normalizing with the cost of living index)
* Normalized stipends for most satellite cities / towns are 10% to 47% higher than for their respective main hub cities. Delhi is a lone exception, with lower stipends for satellite cities / towns
* Mumbai versus satellite cities / towns: 10%
* Bangalore versus satellite cities / towns: 47%
* Chennai versus satellite cities / towns: 18%
* Delhi versus satellite cities / towns: - 28%
* Hyderabad versus satellite cities / towns: 31%
* Mysore (35% - 48% higher normalized stipends) and Vijayawada (22% - 27% higher normalized stipends) are the best cities for apprentices to work in, and Noida (38% - 55% lower normalized stipends) and Gurgaon (27% - 33% lower normalized stipends) are the worst, based on the net cost versus benefit (ratio of the normalized stipend and the cost of living index)
* Generic and soft skills in apprentices are a hygiene factor, while domain specific skills are highly sought after. The stipend premium that specialized profiles fetch for domain specific skills is at least 21% to 39%

Candidate expectations are significantly higher than stipends paid by employers. The divergence in the top 5 metro cities (in terms of candidate expectations) are as follows:

* Delhi [Candidate Expectation: Rs. 15,500 | Market Stipend: Rs. 9,033]
* Mumbai [Candidate Expectation: Rs. 12,800 per month | Market Stipend: Rs. 9400]
* Chennai [Candidate Expectation: Rs. 12,000 per month | Market Stipend: Rs. 9300]
* Bangalore [Candidate Expectation: Rs. 14000 per month | Market Stipend: Rs. 9800]
* Hyderabad [Candidate Expectation: Rs. 11,000 | Market Stipend: Rs. 8400]
* Kolkata and Delhi have the highest percentage of candidates (around 80% or more) willing to relocate to any city – hub or otherwise
* Employers are Raising Expectations
* A majority of employers (46% to 77% of those who responded to the survey) expect applicants to be aware about essential soft skills and a good 63% expect applicants to possess domain awareness.
* Employers rank domain awareness and quantitative / analytical abilities at the top (#1 through #3) in specialized domains [IT, Finance and Accounting, Production and Manufacturing].
* Soft skills awareness is predominant as compared to functional skills awareness in generic / support function domains [Administration, HR, Sales and Marketing] and its attributes are ranked #1 through

The report also delved into comparative analysis between stipends paid by large businesses vs. stipend paid by Medium and small businesses across the country. While large businesses paid significantly higher stipends [12% to 34%] than others, and the difference in stipends between medium and small businesses is not very significant. Further, the report brought to the forefront employers expectations with regard to skills. Some of the skills employers looked for in applicants were domain awareness, quantitative abilities, analytical abilities in specialized domains like IT, finance and accounting, production and manufacturing. In addition to domain expertise, employers also looked for soft skills and functional skills in generic as well as support function domains like administration, HR, sales and marketing.

The Stipend Primer is a detailed analysis pertaining to payouts to apprentices by sector, region, educational qualification and roles. The study covers apprentices employed in nine sectors across nine cities.

UK-based Fintech Storm to Host its Fifth Fintech Summit from May 30–31, 2019 at Bengaluru, India

The fifth fintech (financial technology) summit organized by UK-based Fintech Storm features speakers from the banking, fintech and venture capital industries, as well as policymakers from the government of India. The first day of the summit will focus on fintech, artificial intelligence and blockchain. The second day will be centered around cryptocurrency, tokenized securities and more on the topic of blockchain technology. The full summit agenda can be found at http://bengalurufintechsummit.com/agenda.html.

Background on Organizer: Fintech Storm, the organizer of the Bengaluru Fintech Summit, has the support of sponsors including Himalaya Capital Exchange, Tata Consultancy Services and HCX Asset Management. Based in the UK, Fintech Storm offers a monthly blog as well as in-person fintech networking and informational events. The organization has been hosting events since 2014.

Cost: “Platinum” passes, consisting of two days of conference access plus a “VIP” networking event cost GBP 400 (USD 516) for attendees from India or GBP 1,000 (USD 1,291) for foreigners. One-day passes are also available at a reduced rate. Additional information on registration can be found at http://bengalurufintechsummit.com/ticket.html.

Event Website: http://bengalurufintechsummit.com/

Event Location: Taj West End Hotel, Race Course Road, Bengaluru, India

Contact: For more details, you may email westend.bangalore[at]tajhotels.com or call +91 80 6660 5660.

Alankit Through its Subsidiary Verasys Technologies Offers Secure e-Sign Facility Across India

Alankit forays into the electronic signature space with Verasys Technologies to offer secure e-Sign service across India under the brand name Vsign, targets a subscription base of over 5 Million in its launch year

A subsidiary company of Alankit Limited, a leading private player in the e-governance space, Verasys Technologies has announced its entry into the electronic signature space to provide secure e-Sign service under the brand name Vsign.

Armed with a Digital Signature Certificate (DSC) as a Certified Authority (CA) issued by the CCA (Control of Certifying Authority), Alankit via Verasys Technologies offers secure e-signatures with diverse, inbuilt functionalities including user consent, Digital Signature Certificate issuance request, Digital Signature creation and affixation and an established audit trail to confirm the authenticity of transactions and data integrity, all in conformity with the regulatory framework and relevant provisions of the Information Technology Act.

Revealing the rationale behind the venture, Mr. Ankit Agarwal, Managing Director, Alankit Limited said, “For any change to reap optimal results, it is necessary for all players to contribute and Verasys Technologies, a subsidiary of Alankit is doing just that. With proven technology expertise, Alankit is committed to Digital transformation in India. With this license, we aim to utilize and further optimize and increase the viability of our franchise network to benefit the end consumer."

Not to mention, e-Sign is a convenient digital tool that facilitates the digital signing of documents along with seamless integration capabilities with service delivery applications via an API-based model. It’s worth noting that company’s e-Sign service estimated to be 25-30% more economical compared to its peers in the market. Additionally, the security concerns surrounding digital signatures have been adequately addressed. The private keys of the e-sign users are developed on a Hardware Security Module (HSM) that is damaged immediately upon one-time use. Further, the short validity period of the certificate mitigates concerns on the key storage and key protection front.

How e-Signatures work

A key feature of the e-Sign solution is its simple process and flexibility in configuration structure, which is aligned to the e-KYC services, with the facility to record e-KYC IDs and enable instant verification of the identity of the signatory. The authentication options for e-KYC comprise both biometric features as well as OTP function.

The online signature is validated by an OTP based authentication process which is enabled through e-KYC verification of the e-Sign user, with simultaneous encrypted signature on the document being accomplished with the help of a secure backend server of a service provider. The e-Sign services can be provided, in the first place, only by legally authorized third-party service providers with a valid licence as Certifying Authorities (CA). Verasys Technologies is one amongst such legally recognized organizations.

To further enhance the security and ensure user privacy, the e-Sign requires submission of only the thumbprint (hash) for completion of the signature formalities, rather than the entire document. E-Sign services allow easy access to online signature function, irrespective of time and place, without the need for physical presence. In case of processes with mandatory signature requirements, Alankit, through Verasys Technologies, has drastically speeded up the process to a day or two, as against the traditional, prolonged tenure of 2-3 weeks.

The Government’s Digital India program is fast gaining traction and is witnessing increased adoption of paperless, eco-friendly technologies. Use of digital signature is a step in this direction. Given that the signature function operates as a widely accepted authorization tool with application across industry segments, Alankit expects to realise higher volume of user subscriptions mainly from banks, NBFCs, insurance companies, Government department and other sectors, where secure authentication of online transactions and implementation of best practices in governance, risk management, and compliance (GRC) remains a core priority and where the physical signature can be successfully substituted with an e-signature.

India Ratings and Research Assigns Investment-Grade Rating, ‘IND BBB-’ Stable to Runaya Refining LLP

Runaya Refining has been assigned a long-term issuer rating of ‘IND BBB-‘ by India Ratings and Research. The rating is assigned on the basis of Runaya Refining’s operational linkage with a strong counterparty, continuation of timely implementation of the project, successful tie-up with foreign technology company, low working capital requirement, and high customer concentration.

Annanya Agarwal, CEO – Runaya Refining said, “We are delighted that Runaya is assigned investment-grade credit rating, in spite of being in project phase, demonstrating very strong project dynamics. This also validates the robust financials of the company and its lean operational model. Runaya’s vision is to enable sustainable growth in the aluminium industry. The development of the project will be an important strategic initiative that will create value-added products that will benefit regional and global markets.”

According to India Ratings and Research, the definitive agreement that Runaya Refining has entered into with Vedanta for the processing of aluminium dross till March 2023 will contribute steadily to the topline of the project. The company is also implementing hot and cold dross units near Vedanta’s cast houses in Jharsuguda for recovering metal content.

Another reason cited is that since commencing operations from October 2018, Runaya Refining is running on track with commissioning of units and expansion of capacity. Runaya is expected to commission the Hot dross processing Plant and briquette plant by October 2019, which is on schedule.

Runaya has also entered into a perpetual, exclusive agreement with TAHA International for using its aluminium dross processing technology in India. The agreement include setting dross processing unit in Odisha for which it has already received the ‘consent to establish’ from Odisha Pollution Control Board. It will enable the company to develop an end-to-end solution in aluminium dross handling – the first of its kind in India.

Finally, the rating agency has accounted in the comfortable liquidity position and the positive cash flow from operations of the company. The inventory holding will also be negligible. The company will experience high customer concentration that will secure its revenue.