Indium Software Expands India Footprint To Support Accelerated Digital Transformation of Global Enterprises

* Sets up its largest global delivery center in Chennai’s Olympia Tech Park, on the heels of expanding in Hyderabad and Bengaluru in the past couple of months

Indium Software, a fast-growing Digital Engineering company, today announced the inauguration of its newest delivery centre in Chennai’s Olympia Tech Park, its largest in India. This new centre can accommodate up to 500 professionals. This expansion comes on the heels of its expansion in Bengaluru and Hyderabad in the past two months in two notable locations—Bagmane Tech Park and Madhapur Hitech City.

Harnessing the opportunities thrown up by digital transformation, Indium has seen rapid growth in recent years in digital engineering solutions across application engineering, data and analytics, cloud engineering, low code, digital assurance, and gaming solutions. In 2021-22, Indium’s revenues grew by 78 percent adding over 1,000 employees during this period. In 2022-23, Indium expects to grow revenue by over 50 percent.

“This new delivery centre is Indium’s commitment to expand into world-class infrastructure, providing our employees a differentiated experience and meet our high-performance work culture,” said Ram Sukumar, Co-founder and CEO, Indium Software. “With the pandemic accelerating the digital transformation of enterprises, we are seeing our Fortune 1000 and global clients embrace newer models of digital engineering including cloud, low code and pod-based delivery, thereby driving agility and innovation into our solutions.”

“To meet the demands of our accelerated growth and align with an evolving hybrid work culture, Indium has strengthened its operational backbone—platforms, processes, people and partnerships—and upskilled and reskilled over 500 employees through Indium Academy,” said Ramesh Krishnamurthy, COO. “Indium has also enhanced its ability to bring in talent at scale and Indiumize them—by reimagining our talent supply chain across educational partners and technology partners to provide superior and differentiated solutions to our clients, leveraging our intellectual property and frameworks in key areas.”

About Indium Software

Indium Software is a leading provider of Digital Engineering solutions with deep expertise in Application Engineering, Cloud Engineering, Data and Analytics, Low-code Development, Digital Assurance and Gaming. Over the past decade, Indium has built strong relationships with over 100 clients—spanning ISVs, Global 2000 as well as born-digital companies—across North America, India, Europe and the Asia-Pacific region as well as with ecosystem partners such as AWS, Mendix and Striim. With over 2,500 associates spread across multiple delivery locations in Chennai, Bengaluru and Hyderabad and at client sites globally, Indium makes technology work for clients, driving measurable business value.

India To Benefit As Centum Joins Hands With Indra Sistemas For Manufacturing Space Radar Systems

Centum Electronics Limited, India, and Indra Sistemas, S.A Spain, have signed an MoU to exclusively collaborate in high-end futuristic Radar systems and technologies for the Government of India. The MoU envisages manufacturing and commissioning of the radar for space applications.

Long-range radar is intended to detect, track and analyse objects and debris in space at a distance of thousands of kilometres. 

The MoU was exchanged between Mr. Nikhil Mallavarapu, Executive Director, Centum Electronics Limited, and Mr. Jaime Manuel Temes Giménez, International Director for Defence, Indra Sistemas S.A at Gandhinagar on 20th Oct 2022 during “Bandhan” event in Def Expo 2022.

During the event Mr. Nikhil Mallavarapu said, “The country would benefit by filling a key technology gap that exists. This exclusive cooperation would also serve the Hon’ble Prime Minister’s vision of Atma Nirbhar Bharat by manufacturing most of the high-end microwave, digital and power electronics hardware within the country”. Mr. Jaime Manuel Temes Giménez, International Director for Defence, Indra Sistemas S.A, indicated that Indra is aligned with the Make in India vision and is pleased to collaborate with CENTUM. 

Mr. Vinod Chippalkatti, President & Cdr Subhash Ahlawat IN Retd, Director from Centum Electronics were also present in addition to other senior officials.  

This MoU will enhance Centum’s indigenous Radar technology capabilities in addition to generating additional revenues in the coming years.

Centum has a strong R&D/ indigenization policy for developing, qualifying, and delivering Military grade electronic systems and subsystems for Radars, EW systems, Missiles, and Aerospace/Space platforms. 

About Centum

Centum was founded in 1994 in Bangalore, India. Since then, Centum has rapidly grown into a diversified electronics system design & manufacturing company with more than 2000 employees operating in North America, EMEA and Asia. The company offers a broad range of products and services across high reliability segments of defence, space, aerospace, transport, industrial and medical. It has continuously invested in strengthening its design & product development capabilities while developing deep domain knowledge in the segments it operates in. Centum has also established truly world-class manufacturing facilities with cutting-edge infrastructure as well as a global supply chain capable of delivering products with high quality and reliability.

Motherhood Hospitals Expands Its Footprints To Mysuru

“A comprehensive women and children’s hospital network in the country”

Motherhood Hospitals- country’s fastest growing chain of women and children’s hospitals, launched its 19th hospital in the city of Mysuru today. The Hospital was inaugurated by His Highness Shri Yaduveer Krishnadatta Chamaraja Wadiyar, Maharaja of Mysore in the presence of Mr. Vijayarathna Venkatraman, CEO, Motherhood Hospitals, and the team of doctors. This would be the first Motherhood Hospital in the state which is located outside Bangalore where the chain already has a dominant presence of 7 hospitals.

Located in the heart of the city, Motherhood Hospitals Mysuru offers a comprehensive array of services that caters to women health care from puberty to menopause, specialised care of newborn care & pediatrics. The hospital has a team of well experienced gynaecologists, pediatricians, and neonatologists and equipped with advanced technology and infrastructure

Shri Yaduveer Krishnadatta Chamaraja Wadiyar, Maharaja of Mysore Congratulating on the launch said “I am delighted to be present here on this wonderful occasion of the launch of Motherhood Hospitals in our very own city of Mysuru. Women are the crucial pillars of our society and the cornerstone of every family’s health. They should have access to healthcare services that are inclusive, dynamic, and non-judgmental. I am gladly welcome Motherhood Hospitals in our city with their expertise in women and child health and I wish them all the very best.”

Addressing the gathering, Mr. Vijayarathna Venkatraman, CEO, Motherhood Hospitals said “Our aim at Motherhood Hospitals has always been to deliver exceptional healthcare experience to our patients and their families. Women and children need compassionate and efficient service in a homely and comfortable environment, no matter where they reside. With the launch of our Mysore Centre, we hope to bridge the gap between healthcare services in Tier 1 and Tier 2 cities. By foraying into this part of Karnataka, we are hoping to cater to patients not just from the city but also the peripheral areas like Kodagu, Chamrajanagara, Hanur, Mandya, Nanjangud, Hassan among the others.

He further elaborated, “Motherhood Hospitals offers a full stack of women’s healthcare services along with a strong NICU level 3 facility which is one of the strongest pillars of the Hospital. This making it a high-quality birthing institution.  We are backed by highly experienced and dedicated experts in pregnancy care, gynecology, laparoscopic surgery, fertility, paediatrics, neonatology, and fetal medicine who would be forthcoming in providing a seamless & quality healthcare service to the people of Mysore and adjoining regions.”

Motherhood Hospitals has a legacy of over a decade in the women and children’s space. It has one of the strongest neonatal programs in the state which provides optimum state-of-the-art care for critically ill, as well as recovering, neonates, and infants. The Neonatal Care Unit (NICU) at Motherhood is a level III unit and the same facility is available at the Mysore Centre as well. So far, the NICU of Motherhood has successfully treated more than 14,000 new-born / prematurely born babies. 40% of these babies are retrieved from remote areas of Karnataka (like Koppal, Hubbali, Chikkamangaluru, Anantpur, Chitradurga, Bellary, Hassan, Kadapa and Gadag to name a few) through their Neonatal Transport – ‘NICU on Wheels’.

“Children need accurate diagnosis and treatment right from their fetal stage to their adolescence and young adulthood. Similarly, women health needs specialised care for their reproductive health right from puberty through womanhood and old age. Regular assessments and timely checkups are crucial when it comes to health issues. Unfortunately, women tend to ignore their reproductive health and only visit the doctors when necessary. At the Mysore Centre we will aim to create awareness amongst women of the region on the importance of preventative gynae health checks for early diagnosis and treatment” added Mr. Vijayarathna V, CEO, Motherhood Hospitals.

About Motherhood Hospitals:

Motherhood Women & Children’s Hospital network is India’s fastest growing single specialty hospital network with 19 hospitals and 1000+ leading gynecologists, pediatricians & neonatologists across the country. Recognized for their best-in-class clinical expertise and range of comprehensive women and childcare services, the leading healthcare chain has pioneered managing high risk pregnancies, complex gynae surgeries such as fertility enhancement or uro-gynae surgeries, management of newborns with critical conditions and extreme low birth weight babies. With the largest network of over 300 Neonatal Intensive Care Unit (NICU) beds in the country, Motherhood Hospitals are acclaimed as India’s best referral centre for handling the most complex preterm births.

Canara Bank Announces Robust Growth During Quarter 2, 2022

FINANCIAL RESULTS FOR THE PERIOD/QUARTER ENDED 30th SEPTEMBER 2022

Net Profit up by 89.42% YoY.

Operating Profit up by 23.22% YoY

Global Business surpassed 19,58,000 crore

Key Highlights (September 2021 V/s  September 2022)

Net Profit stood at Rs.2525 cr against Net profit of Rs. 1333 cr for September 2021.

Operating Profit stood at Rs. 6905 cr grew by 23.22%.

Non-Interest Income grew by 13.05%.

Net-Interest Income grew by 18.51%

Fee based income grew by 17.98%.

Cost to Income Ratio down by 316 bps.

Global Business grew by 13.89%.

Gross Advances grew by 20.00%.

RAM Credit grew by 16.40%, it constitutes 55% of Total Advances.

Retail Credit grew by 12.52% with Housing loan at 17.01%.

Gold Loan grew by 32.86% with Portfolio amount of Rs.1,08,794 cr.

Gross NPA Ratio stood at 6.37% down by 205 bps.

Net NPA Ratio stood at 2.19% down by 102 bps.

Provision Coverage Ratio (PCR) at 85.36% improved by 292 bps.

CRAR stood at 16.51% as at Sep 2022.  Out of which CET1 is 11.14%.

Return on Equity stood at 18.86% improved by 664 bps.

Bank has shifted to new tax regime. The reduction in Deferred Tax is Rs. 2,451.60 cr.

Key Summary of Business Performance (as on 30.09.2022)

Business

Global Business increased by 13.89% (y.o.y) to Rs 1958111 cr as at Sep 2022 with Global Deposits at Rs 1133964 cr 9.82% (y.o.y) and Global Advance (gross) at Rs 824147 cr 20.00% (y.o.y)

Domestic Deposit of the Bank stood at Rs 1056519 Cr as at Sep 2022 with growth of 7.77% (y.o.y)

Domestic Advances (gross) of the Bank stood at Rs 780049 Cr as at Sep 2022 grew by 17.66% (y.o.y)

Retail lending Portfolio increased 12.52% (y.o.y) to Rs 134051 Cr as at Sep 2022

Housing Loan Portfolio increased 17.01% y.o.y to Rs 78852 Cr

Advances to Agriculture grew by 21.62% (y.o.y) to Rs 196576 Cr as at Sep 2022

Asset Quality

Gross Non-Performing Assets (GNPA) ratio reduced to 6.37% as at Sep 2022 down from 6.98% as at June 2022, 7.51% as at March 2022.

Net Non-Performing Assets (NNPA) ratio reduced to 2.19% as at Sep 2022 down from 2.48% as at June 2022, 2.65% as at March 2022.

Provision Coverage Ratio (PCR) stood at 85.36% as at Sep 2022 against 84.51% as at June 2022.

Capital Adequacy

CRAR stood at 16.51% as at Sep 2022 (14.91% as at June 2022). Out of which Tier-I is 13.40%

(12.13% as at June 2022), CET1 is 11.14% (10.49% as at June 2022) and Tier-II is 3.11% (2.78% as at June 2022)

Bank successfully raised capital during FY23 through:

AT-1 Bonds     : Rs.4000 Cr

Tier II Bonds   : Rs.2000 Cr

The Capital Raising Plan for FY-23:

AT-1 Bonds     : Rs.5500 Cr

Tier II Bonds   : Rs.3500 Cr

Priority Sector & Financial Inclusion

The Bank has achieved Targets in Priority Sector at 52.12% and Agricultural Credit at 23.35% of ANBC as at Sep 2022, as against the norm of 40% and 18% respectively.

Credit to small and marginal farmers stood at 16.96% of ANBC, against the norm of 9.50%.

Credit to Weaker Sections stood at 24.46% of ANBC, against the norm of 11.50%.

Credit to Micro Enterprises stood at 11.14% of ANBC, against the norm of 7.50%.

Credit to Non Corporate Farmers stood at 18.66% of ANBC, against the norm of 13.78%. 

Network

As on 30.09.2022, the Bank has 9722 Number of Branches, out of which 3040 are Rural, 2748 Semi- Urban, 2002 Urban & 1932 Metro along with 10759 ATMs. Bank is also having 3 overseas branches in London, Dubai and New York.

Air India Receives Unprecedented Response To Its Talent Augmentation Programme

* Talent being inducted across the business to support Vihaan.AI vision

Air India, India's leading airline, revealed an unprecedented level of interest in its talent augmentation programme, which forms a key pillar of its five-year transformation roadmap, Vihaan.AI.

The airline, which had not recruited in non-operations areas for more than 15 years, is quickly adding talent in all spheres of its business, ranging from Commercial functions like revenue management, sales, distribution, network planning and marketing; Business Support Services including HR, finance, IT and analytics; as well as Operations, spanning inflight product design, ground, engineering & airport services, rostering and operations control.

The airline’s aggressive expansion plan, which has already seen 17 long-grounded aircraft return to the skies with 12 more to follow, and the lease-in of 30 narrow- and wide-body aircraft over the next 12 months, also necessitates a significant expansion in flying crew.

The first phase of this initiative to augment talent has received an overwhelming response Over 1,752 applications for pilots and 72,000 applications for cabin crew have been received in the last two months, which are in the process of assessment. 

Interest from management post-graduates with three years’ experience to fill ground based business roles has been similarly strong, with over 25,000 applications received in little more than one week.  On appointment, those selected will be placed in various functions in Air India including airport operations, commercial, engineering and human resources among others, and will form an important part of Air India’s internal talent and future leadership pipeline.  

With Vihaan.AI placing high priority on becoming a world leader in information technology, Air India has received more than 2,000 applications for a New Tech centre at Kochi, Kerala, including developers, architects, cyber security professionals, programme managers and UX/ visual designers among others.  

Commenting on the focus on next-gen talent acquisition, Mr. Suresh Dutt Tripathi, Chiief Human Resources Officer, Air India, said, “An entire generation of workforce has missed the opportunity to work for Air India due to limited recruitment over the years. We are seeking to make up for this organisational gap as we work to make Air India the world’s leading airline with customer focus at the heart of its operations. Our talent acquisition initiative is focused on identifying and recruiting the right talent in order to ensure that our human resource capabilities keep pace with the growth momentum and evolving needs of the organisation. The induction of new generation talent is also essential to bring about cultural change that will make Air India an employer of choice. The initial response to our various job postings has been tremendous and we are committed to meeting the aspirations of those seeking a fulfilling career with Air India.” 

Attracting the industry’s best talent is one of the five identified pillars of Vihaan.AI, Air India’s transformational roadmap. The other pillars of Vihaan.AI include exceptional customer experience, robust operations industry leadership, and commercial efficiency and profitability. Air India is committed to invest in further strengthening its HR base with industry-best talent in different spheres of its functioning as part of its well-defined transformation agenda.

For more information, please visit www.airindia.in 

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a Government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart.

Vihaan.AI is Air India’s transformational roadmap over five years with clear milestones.  It will be focussing on dramatically growing both its network and fleet, developing a completely revamped customer proposition, improving reliability and on-time performance. The airline will also be taking a leadership position in technology, sustainability, and innovation, while aggressively investing in the best industry talent. Vihaan.AI is aimed at putting Air India on a path to sustained growth, profitability and market leadership.

About the Tata Group:

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture. In 2020-21, the revenue of Tata companies, taken together, was $103 billion (INR 7.7 trillion). These companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (INR 23.4 trillion) as on December 31, 2021. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Communications, Indian Hotels, Tata Digital and Tata Electronics.

Club Mahindra Launches Its Second Resort In Le Vintuna, Gangtok

~ Located in Gangtok, East Sikkim it’s nestled amidst plunging verdant valleys ~

Club Mahindra, the flagship brand of Mahindra Holidays & Resorts India Limited, launched its second resort – Le Vintuna in Gangtok, East Sikkim. With this launch, the brand offers one of the largest inventories of 150+ rooms in Northeast across the three destinations including Club Mahindra Gangtok and Club Mahindra Baiguney.

Le Vintuna, the newest entry in Northeast, offers picturesque, natural beauty with exemplary amenities and services. In addition to breathtaking natural splendor, the property offers spacious rooms and tasteful décor emphasizing on local motifs design. The resort offers distinctive Happy Hub experiences to be able to make ‘Every Moment Magical’ for its member families.

The new property boasts 97 spacious rooms, surrounded by nature offering a relaxing escape from city life. The facility also has a gift store, an indoor games area, a multicuisine restaurant with exotic local cuisines, a spa, a well-equipped gym, along with freshwater swimming pool.

Through this resort, the brand promises a tranquil heaven surrounded by lush greenery with major tourist spots – Tendong Lho Rum Faat, one of the oldest local celebrations; Phang Lasbol, a unique festival honoring Mt. Kanchenjunga as the protector deity; and Bhaduria Purnima, which takes place on a full moon day in August. Rumtek Monastery, Kanchendzonga, National Park, Nathula Pass, Tashi Viewpoint, and Namgyal Institute of Technology are also some places to visit.

The Tourism and Civil Aviation Department, Government, awarded Club Mahindra Baiguney the Best Resort Award in Sikkim 2022 of Sikkim. Kindly visit www.clubmahindra.com to book and enjoy a safe, hassle-free holiday.

Bharatgas Consumers To Get Upto 100% Cashback On Payments Made Through MobiKwik App On LPG Refills Booking

* More than 8 Crore Bharatgas consumers can avail of the festive offer and get upto 100% cashback on their LPG refills.

Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company, has partnered with MobiKwik, the second largest mobile wallet in India, for digital payment of refilling LPG cylinders through the MobiKwik app. 

During the festival season, booking of LPG cylinder through MobiKwik, will give Bharatgas customers upto 100% cashback. This offer is valid till 31st December 2022. 

Bharatgas offers several digital payment solutions to its customers and partnering with MobiKwik gives another option to its nationwide customer base. 

“Adding to the festivities for Bharatgas customers, we have launched this country-wide partnership with MobiKwik. We are confident that a lot of our customers will benefit from this offer,” said Mona Srivastava, Dy. General Manager, Digital Payments, BPCL. 

To avail the cashback, Bharatgas customers can either book their cylinder refills from the MobiKwik mobile application or by calling the designated booking phone number 771-801-2345, where they will receive an SMS with a link to pay via the MobiKwik mobile application, once the booking is made. 

Bharat Petroleum is the second largest Indian oil marketing company and has more than 8 crore nationwide LPG consumer base. 

“Currently, more than 40% Bharatgas customers pay digitally. The partnership with MobiKwik adds one more digital payment option to large our large customer base”, Nikhil Singh, CGM Sales & LPG Marketing Strategy, HQ, BPCL, added.

“Our mission at MobiKwik is to digitise how India pays, saves and invests. And this tie-up with Bharatgas from BPCL is a big step in our journey, given their penetration and scale across the country and the recurring nature of gas purchases. Hoping to make this festive season sweeter for all Bharat gas customers with this small endeavour,” said Chandan Joshi, Co-Founder & CEO of Consumer Payments, MobiKwik.

With 127 million registered users, MobiKwik is the largest digital credit player and the second-largest mobile wallet in India. The company commenced operations as a mobile wallet to make digital payments convenient for Indians. Their use cases have since expanded to include bill payments, eCommerce shopping, food delivery, petrol pumps, large retail chains, pharmacies, Kirana stores, etc. The platform also enables peer-to-peer payments via a unified payment interface (“UPI”). The fintech company recently expanded its suite of financial products for consumers and merchants, from payments to digital credit and investments.