Federal Bank Launches Its New Online Tax Payment Service In Association With Central Board of Direct Taxes

On the back of strong Q1 results for FY-23, Federal Bank partners with the Central Board of direct taxes to assist taxpayers in making their payments via the e-pay tax facility in the e-filing portal of the income tax. Anyone can now pay their taxes instantly via any of their payment modes such as Debit/Credit Card, UPI, Net banking, cash, NEFT/RTGS etc. NRIs and Domestic Customers of the bank, as well as any tax-paying citizen in India can generate a tax challan and make the payment through the Bank’s branches. 

The Bank had received approval from Government of India for collection of Direct Tax last financial year and has been made effective since 1st July 2022. In a first, there is no requirement of PAN/TAN registration/verification for taxpayers and it takes away any delay in payment of tax. With this partnership, Federal Bank became one of the pioneers to be registered under the Tin 2.0 platform of the Income Tax Department.

Commenting on the association, Harsh Dugar, Group President and Country Head – Wholesale Banking, Federal Bank, said “We are delighted to announce the Bank’s partnership with the new income tax portal. This will facilitate easy tax payments for our customers who can use any of our payment modes and additionally non-customers who can use over the counter mode at our branches. These are among the slew of Digital initiatives, being invested into by the bank, to delight our clientele with ease of transaction and brings agility to our business. We see it as a reinforcement of our commitment to being Digital at the Fore and Human at the core. "

About Federal Bank: Limited

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,300 banking outlets and 1,886 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ? 3.35 Lakh Crore as on 30 June, 2022. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.57% as on 30th June 2022. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its pr.

Kennametal Announces Urban Afforestation Project In Partnership With United Way India

* 10,000 saplings planted to improve Karnataka’s natural green cover

* Initiative inaugurated by Dr. Shanth A. Thimmaiah, Chairman, Karnataka State Pollution Control Board

Kennametal India Limited, in partnership with United Way India, a non-profit organization launched the “Urban Afforestation” project in the Bingipura landfill area of Bengaluru, India today. The event was graced by Dr. Shanth A. Thimmaiah, Chairman, Karnataka State Pollution Control Board.

This event marked the completion of planting 10,000 tree saplings with the help of United Way India’s on ground implementation partner, SayTrees. For a period of two years, SayTrees, with the help of corporate volunteers from Kennametal will take care of these saplings so that they can develop into a natural forest cover, aiding in the restoration of its ecological balance. Additionally, the afforestation drive will raise the ground water table in the vicinity owing to soil and moisture conservation. 

Speaking at the event, Mr. Vijaykrishnan Venkatesan, Managing Director, Kennametal India Limited said, “Kennametal's employee-driven ‘Protecting Our Planet’ (POP) initiative is a cornerstone of our environmental stewardship. Through this program, we have implemented several projects over the years in and around our facility in Bengaluru, aimed at improving the green cover of the city. This urban afforestation project, being driven in conjunction with United Way India, is one such initiative that will positively impact the ecosystem and further strengthen our commitment to bettering the environment.”

Citing the importance of such projects, Dr. Thimmaiah said, “Karnataka has always been at the forefront in the implementation of initiatives aimed at conserving our natural resources and encouraging our citizens to actively participate in them as well. We appreciate Kennametal’s support to this project, which is aligned with the state’s vision in this area.”

Speaking on the significance of environmental conservation, Jayanti Shukla, CEO – United Way India said, “We are delighted to partner Kennametal India Limited to implement such an impactful green initiative. The Miyawaki Method that will be used for this afforestation project will ensure a diverse and firmly-rooted forest cover in the area, which will be a step in the right direction for realizing our joint environmental conservation efforts.” 

Repos Launches Repos Pay: A Energy Fintech Platform To Revolutionise Energy Distribution With Fuel On Credit Solution

With its 2000+ partners and operations in 220+ cities across the country, Repos is the pioneer of the Doorstep Fuel Delivery industry in India. Under its FinTech arm, Repos announced today the launch of Repos Pay, a 'first of its kind' Energy Fintech platform which will facilitate fuel on credit solution for bulk consumers. Repos signed memorandums of understanding (MOUs) with Axis Bank, mCapital, and ICICI Bank as the first Financial partners for the platform. The launch ceremony was graced by Shri Narayan Rane (Hon. Minister of MSME, Govt. of India). Repos is committed towards the nation's growth by creating an ecosystem that facilitates the delivery of all forms of energy at the doorstep of end consumers with the help of technology. This launch further demonstrated Repos's dedication to building India's sustainable energy distribution ecosystem.

Since its inception in 2017, Repos has been Relentless and Positive in realising its vision of helping the world move toward a carbon-neutral future with establishment of E-Commerce of energy. It wants to make all fuels - liquid, gas, or electric accessible through Mobile Energy Distribution through special purpose vehicles like IoT technology enabled Repos Mobile Fuel Pumps. For its innovations in Mobile Energy Distribution, Repos was conferred with National Startup Award 2021 with the hands of Hon. Prime Minister of India, Shri Narendra Modiji in the industry 4.0 vertical. So far Repos has secured three national and one international patents (published in 153 countries). Repos has also been featured in Forbes India magazine and has represented India at Europe's biggest start-up and tech event - Vivo Technology 2022.

We have identified the expansive untapped market of fuel on credit and developed a platform to introduce a structured fuel financing and management mechanism.Repos Pay, powered by technology, caters not only to the credit needs of the fuel consumer but also acts as an efficient credit extension and management platform for lenders such as banks, NBFCs and fintech, said Aparajit Subramanian, Co-Founder & Chief Fintech Officer , Repos

"With the launch of Repos Pay, we will enable investors to enter a high-cap market while driving an environmental impact through green energy adoption. While Mobile Energy Distribution has an impressive growth story, access to viable investment opportunities in this sector for most investors is virtually non-existent. The renewable energy segment is a costly asset class to own and manage independently. We, as an aggregator, aim to resolve this problem by facilitating to bring down the ticket size for investments", said Mr. Chetan Walunj, Founder and CEO of Repos

Aditi Bhosale Walunj, Founder and Chief Visionary Officer of Repos, said, "Our Fintech platform is an opportunity for Repos to innovate the energy financing ecosystem. We believe Fintech offers solutions to invest in renewable projects and provide solutions that break down production, financial analysis and portfolio performance. Repos Pay will be a driving force behind renewable energies' deployment and the shift towards a greener future. We plan to combine technology and innovations, and our platform will be at the centre of our energy transition."

Repos Pay is an innovative financial platform that offers new ways for citizens to get involved in delivering clean energy to doorsteps and reap the benefits of the technologically powered payment solution. Repos Pay wants to reach every corner of India and revolutionise the distribution of all kinds of energy in the future. It would cater to Angel investors interested in diversifying their existing portfolios while being a part of India's fast-growing energy distribution landscape.

About Repos:

Repos was founded in 2017 by Aditi Bhosale Walunj and Chetan Walunj with a vision to Transform Energy Distribution across the world and help the world make the transition towards a carbon neutral future. Repos is on a mission to make all forms of energy available at the doorsteps of end consumers by bridging the gap between supply and demand using tech enabled innovations. As of now, Repos employs more than 250 people, it has built a community of 2000+ partners and is currently operational in 220+ cities across India. Through the Repos platform, more than 5 Crore Litres of fuel has already been distributed, which has resulted in carbon emissions reduction equivalent to 14.85 million Kgs.

Kindly Visit https://reposenergy.com/ for information.

India’s largest Wine Producer And Seller Sula Files DRHP For IPO

Mumbai-based Sula Vineyards, the country’s largest wine producer and seller and a market leader in the Indian wine industry in terms of sales volume and value since Fiscal 2009 has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).

The issue with a face value of Rs 2 per equity share is a complete offer for sale (OFS) aggregating to 25,546,186 equity shares. 

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

Sula set up its first vineyard in 1996 and in the year 2000 was the first to introduce varietal wines in India with the launch of Sauvignon Blanc, Chenin Blanc, Zinfandel, Riesling, Red Sparkling, and dessert wine offerings. In Fiscal 2005 it launched the first wine tasting room in India at its winery in Nashik, Maharashtra followed by country’s first vineyard resort in 2008, and in the same year, the wine-maker launched the first wine-themed music festival in India, “SulaFest”, at its Nashik facility in 2008. “SulaFest” has been widely recognized as the largest wine music festival in India and one of the largest wine music festivals in Asia, based on attendance. In Fiscal 2017, it launched a wine tasting room at its “Domaine Sula” facility in Karnataka.

The Mumbai-based wine maker is one of the fastest growing alcoholic beverage companies in India as of March 31, 2021 and has grown at a CAGR of 13.7% between Fiscals 2011 and 2021 according to Technopak report as mentioned in the DRHP. On the basis of total revenue from operations, it has gained market share from 33% in Fiscal 2009 in 100% grapes wine category to 52% in value in Fiscal 2020 and further increased to 52.6% in Fiscal 2021. Its business can be broadly classified under production of wine, import & distribution of wines and spirits and sale of services from ownership and operation of wine tourism venues including vineyard resorts and tasting rooms.

Sula has been recognized as the market leader across wine variants, including red, white and sparkling wines. The company distribute wines under a bouquet of popular brands such as Sula, its flagship brand besides other popular brands namely RASA, Dindori, The Source, Satori, Madera & Dia. Currently, it produces 56 different labels of wine across 13 distinct brands at its four owned and two leased production facilities located in the Indian states of Maharashtra and Karnataka.

Maharashtra and Karnataka are the two key major grape-producing regions in India, accounting for 95% of total table grapes and 97% of total wine grapes produced in the country are also the top consuming states, contributing close to 57% of the overall wine market. Sula's wine processing units are also located in the west and southwest of India, with the flagship facility located in Nashik, Maharashtra, and our wine processing units located in Nashik and Dindori in Maharashtra, and Bengaluru and Basavakalyan in Karnataka.

Sula services close to 8,000 hotels, restaurants and caterers, and tie-ups with distributors in Maharashtra, Haryana, Delhi, Goa and Punjab with close to 13,000 retail touchpoints across the country in 2021.

Sula’s Shiraz Cabernet is India’s largest selling wine by value in Fiscal 2021, with its gross billings amounting to Rs 91.83 crore in FY22. Recently it won five silvery and four bronze at the “Decanter World Wine Awards, 2022 and its Brut Tropicale won a gold medal at the International Wine Challenge 2022.

The companies revenue from operations increased by 8.60% from Rs 417.96 crore in Fiscal 2021 to Rs 453.92 crore in Fiscal 2022, primarily due to increase in sales of manufactured goods under its brands, increase in selling price of wine in select brands and markets, increase in revenue due to increased focus on premiumisation, favourable response its wine tourism business and increase in revenue from other operating income (government grants). It clocked a profit of Rs 52.14 crore in the financial year FY22 against Rs 3.01 crore from the previous year.

The Indian alco-beverage market is the third largest market in the world after China and USA by volume in terms of actual alcohol content of alco-beverages in CY 2020. The country is one of the fastest growing alcoholic beverage markets growing from 1.3 liters per capita of recorded consumption in 2005 to 2.7 liters in 2010 and Wine is less than 100 ml when compared to the world average of close to 13%. The Indian alco-beverage sector is projected to grow by a CAGR of 8% in volume for the period between FY 2021 to FY 2025 due to positive demographic factors

Wine market in India will remain concentrated with high barriers to entry due to the nature of the product in addition to the trade barriers prevalent in the alcoholic beverage market. The demand for wines in urban and semi-urban areas of India is on the rise.

In India, the harvest of wine grapes normally lasts four months, beginning in December and continuing through March. The basic procedure for making wine entails turning the sugar in grapes into alcohol through fermentation by yeast once the grapes have been transported to our wineries during this time. Between 1.5 to 3 weeks pass during the fermentation process, after which the wine is matured (if necessary), blended, stabilised, filtered, and bottled.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited and IIFL Securities Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.            

On Occasion of World Youth Skills Day 2022, Wadhwani Foundation Calls For Empowering Youth With ‘Skills For The Future’

·        Reimagining and redesigning education and skills in post-COVID times is essential to prepare the youth for a rapidly changing world of work

·        Wadhwani Foundation and its skills-led initiative, Wadhwani Opportunity, share key skilling trends to ensure success in a futuristic work environment

Celebrated on July 15th every year since 2014, when the United Nations instituted World Youth Skills Day (WYSD); the theme for 2022 is “Transforming Youth Skills for the Future.” WYSD highlights the vital need to equip young people with future-ready skills, making them employment ready.

With rapid technological advances and evolving socio-economic trends in the backdrop of the COVID pandemic, job roles are changing at a pace and depth that has rendered an estimated 1.3 billion people worldwide affected by a skills mismatch. Therefore, the skills ecosystem requires skilling, reskilling and upskilling of massive proportions. As per McKinsey, 25 percent more workers than previously estimated will potentially need to switch occupations due to the pandemic.

Speaking on the occasion of WYSD, Dr Ajay Kela, President, and CEO, of Wadhwani Foundation, said, “Digital transformation of businesses, accelerated by COVID, is opening large volumes of high-paying job opportunities for global youth. Skills required to command these digital jobs can be acquired through numerous short-term training programs, and increasingly, employers are valuing such skills over academic credentials. On World Youth Skills Day 2022, I encourage the youth to capitalize on these opportunities through self-paced online re/upskilling programs, thus improving their job prospects and empowering themselves to become continuous learners for in-demand skills and jobs.”

On the occasion of World Youth Skills Day, Wadhwani Foundation and its skills-led initiative, Wadhwani Opportunity, share details on eight key emerging trends that will reshape the Indian skills ecosystem in times to come.

Further explaining the changing paradigm in skilling, Sunil Dahiya, Executive Vice President, Wadhwani Opportunity, added, “Covid-19 has effected fundamental changes at the workplace that demand future-proof skilling for future-ready jobs largely driven by advancing technologies and automation. However, along with the increasing importance of technological skills, the need for soft or employability skills has also surged. While smart machines are taking care of the repetitive and cognitive jobs, there is increasing realisation of how teams equipped with social-emotional skills possess a definite competitive advantage. Wadhwani Opportunity is, therefore, focused on imparting both deep domain and soft/employability skills to equip the youth towards family-sustaining jobs.”

The Monsoon Is Active With Its Incessant Rains, Disasters And Diseases

India experiences its annual monsoon season from July all the way through September. The monsoon brings with it its pleasant weather, rainy spells, and also many-many water-borne diseases!

Did you know that 21% of communicable diseases are water-borne? Be it stagnated and unused or consumable, water, when contaminated, can cause ailments that can be life-threatening, to say the least.

What diseases are we talking about?

The common cold and flu, malaria, dengue, leptospirosis, gastric infections, typhoid, jaundice, cholera, etc.—these are a few of the many water-borne viruses and infections that have plagued the country in the past and continue to do so.

The previous years have witnessed people take extreme health precautions due to the COVID virus. However, the measures taken for COVID might not necessarily help in the battle against the host of diseases and ailments that arise with the advent of the monsoon.

Research shows that we put ourselves at twice the risk of being infected during this season.

How?

During the monsoon, the immune system is already at its most vulnerable. This may be because it takes time for our white blood cells to adjust and deal with temperature changes. Additionally, the moisture in the air allows for dangerous organisms to thrive and multiply.

So, if you think you are immune to these diseases, think again!

Here is some startling data that will help you comprehend the situation better.

4% of global deaths are caused by water-related diseases. In India, water-borne infections afflict more than 34 lakh people, according to the World Health Organization (WHO). 10,738 people have died in the last five years alone, as a result of not having access to safe water during monsoons. In fact, the major cause of death among children aged under 5, is due to consumption of contaminated water!

The year of 2022 has also witnessed a couple of fatal cases and several people across the country who fell severely ill.

It was only after the 5th death, and over 100 hospitalizations, in Raichur that the true state of drinking water came into light. The case also revealed that about 25 villages in Raichur get water that is contaminated with arsenic. All of these people are dependent on tap water!

It is not just the rural areas that are going through this unfortunate situation. The cities too have had their share of cases. States like U.P, Assam and West Bengal have been consistently reporting several acute diarrheal cases that have been on the rise since 2017.

What we also may not realize is that many of these diseases go undiagnosed as they show their effects on your health over time and not immediately.

So, how can you make sure you and your family stay safe and healthy?

Here are a few things you can keep in mind for prevention of contraction:

* Make sure there are no sources of water kept open or left stagnant.

* Avoid eating food from the street or from restaurants that don’t practice good hygiene.

* If there are children at home, make sure they have had all their vaccinations.

* Boil water before consumption or drink from a trusted source like a water purifier.

But, can you trust water purifiers?

Of course, you can!

Water coming from water treatment equipment usually goes through a thorough multi-step process of filtration ensuring the water is rid of all possible contaminants.

But beware of under or over purification of water!

Then how do you get a water purifier that gives you perfectly purified water?

Water purifiers with pre and post carbon and sediment filters, when coupled with a good quality RO membrane, ensure clean drinking water is available to you at all times. However, not all brands customize the purifier based on input water.

Why is customization important?

The 30-year-old water purifier industry has been manufacturing and selling their products based on a one-size-fits-all model.

However, every household gets a different water quality and hence water purifiers shouldn’t be treated like a TV or any other household appliances. Your water purifier should be integrated with the right filtration process based on your needs. Hence, it is necessary to get a customized water purifier that treats very specific issues with the input water in your area.

While looking for water purifiers, always check and opt for brands that offer the above features along with routine water quality checks!

Water contamination has always been a major concern for this country. You can, however, prevent falling prey to these seasonal illnesses by being aware and using modern technology.

Hence, this monsoon, be mindful of your surroundings, take necessary precautions and make smart choices while enjoying your cup of hot tea/coffee (prepared with clean water, of course!).

About DrinkPrime

DrinkPrime was started to solve a personal problem - How do we get access to clean, safe, and healthy drinking water? Seems simple, but here’s what we found. First, most of the water you get in plastic cans isn’t fit for drinking. Second, less than 5% of Indians actually own a water purifier! That’s when we realized this was not just a personal problem but an opportunity to help more people. It’s been six years since we started on this journey. Today, more than 1 lakh users in 7 cities depend on us to access clean and safe drinking water!  

L&T Realty Set To Expand Its Footprint - Signs Up For Three Projects Worth $ 1 Bn In Prime Locations Of MMR

L&T Realty, the real-estate development arm of Larsen & Toubro, today announced its expansion plans in Mumbai market to drive growth. The company has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 Cr, with development potential of 4.4 million square feet. This is a part of company’s larger plan to strengthen its footprint in major metros by adding around 5 million sq. ft. per year over the next five years.

Commenting on the development, Mr. Shrikant Joshi, MD & CEO, L&T Realty said, “We are committed to expanding our reach and continue looking into new markets. With signature elements from L&T Reality, these projects will have iconic features that are designed keeping in mind global norms of excellence while also being a testament for their trust on us with faster execution capabilities.”

The South Mumbai project will be developed over a land parcel of five acres that offers clear harbour view along with good connectivity to all parts of Mumbai. This residential complex will have 50 storey twin towers with luxury amenities and retail.

The project in Western Suburb is set in a prime location of Andheri. This would be L&T Realty’s first Project in Western Suburb and the company will develop a modern gated residential complex comprising 20 towers with a modern shopping complex.

The Thane project will be developed on a 6-acres land parcel in the heart of the city. Surrounded by good social infrastructure and with ample amenities in-house, these high-rise residential towers will stand tall in the skyline of Thane.

L&T Realty has an extensive portfolio spanning 70 million square feet across Residential, Commercial and Retail developments and is currently present in Mumbai, Navi Mumbai, Bengaluru, Chennai, and to some extent in NCR and Hyderabad.

Background:

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.