SIDBI – SIDBI Celebrates International Women’s Day With Women Entrepreneurs of SKDRDP At Shri Kshetra, Dharamsthala

Reaffirming its commitment towards women empowerment, SIDBI celebrated the International Women’s Day with the women entrepreneurs assisted under its PRAYAAS initiative through its partnership with SKDRDP at Shri Kshetra, Dharamsthala. On the occasion, Shri Sivasubramanian Ramann, Chairman & Managing Director, SIDBI, formally released a book “Amrutha Jeevana Prayaas Sinchana” in the presence of Dr. Veerendra Heggade, Dharmadhikari, SKDRDP, Smt Hemavathi Heggade, President, Jnanavikasa Program, Dharmasthala, Shri Ravi Tyagi, CGM, SIDBI andDr. L. H. Manjunath, Executive Director, SKDRDP.

CMD Shri S. Ramann, during his inaugural address mentioned “SIDBI’s mission through PRAYAAS is to connect the micro segment entrepreneurs digitally and serve the ‘missing middle’ segment by making available affordable credit. The program has a focus on women who we believe are the key pillars in the development of economy and in instilling entrepreneurship in the future generations.  Under PRAYAAS, SIDBI looks for development centric partnerships in unserved and under-served segments for fostering the spirit of self-reliance and augmenting enterprise promotion.

I salute the beneficiaries featured in the book who are the true representatives of grit, determination, and embodiment of independence of entrepreneurship.  I am sure that their success will inspire many more women to dream and set up more ambitious ventures.”   

Earlier during the day, Shri S. Ramann handed over sanction letter of Rs.1000 crore to Dr. L. H. Manjunath, Executive Director, SKDRDP, under SIDBI’s PRAYAAS Scheme for Direct Credit to Micro Enterprises under partnership arrangements. The PRAYAAS Scheme has been formulated to help microfinance clients who look forward to upscale / diversify their business and need assistance in the range of `50,000 to `5 lakh, commonly known as “Missing Middle Segment”. The scheme aims to significantly improve access to finance as well as reduce interest rate to aspiring borrowers and help in enterprise promotion.

About SKDRDP:

Shri Kshethra Dharmasthala Rural Development Project, popularly known as SKDRDP, is a charitable trust promoted by Dr. Veerendra Heggade. SKDRDP concentrates on the empowerment of people by organizing Self-help Groups (SHGs) on the lines of Joint Liability Groups (JLGs) and provides infrastructure and finance through micro credit for the rural people. SKDRDP works as Banking Business Correspondent and Business Facilitator (BC and BF) in all the areas of its operation.

About SIDBI:

Small Industries Development Bank of India (SIDBI) as the Principal Development Finance Institution for MSME sector has played 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 toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilateral institutions like   World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth, and competitiveness in long run during prevailing climate related challenges.

Bank of Baroda Slashes Home Loan Interest Rates By 40bps To 8.50%

* Reduces MSME loan interest rates to 8.40%  

- Year-end limited period offer valid up to 31st March 2023 –  

- 100% waiver on processing charges on home loans; 50% waiver on processing charges on MSME loans - 

Bank of Baroda (Bank), one of India’s leading public sector banks announced the reduction in its home loan interest rates by 40 basis points (bps) to 8.50%* p.a. Further, the Bank has also reduced its MSME loan interest rates starting at 8.40%* p.a. Both offers are valid for a limited period till 31st March 2023. This is one of the lowest and most competitive interest rates in the industry.  

In addition to reducing its interest rates, the Bank is also offering 100% waiver on processing charges on home loans and 50% processing charges waiver on MSME loans.  

The new home loan rate beginning at 8.50%* p.a. is available for borrowers applying for fresh home loans, balance transfers as well as for home improvement loans. The rate is linked to a borrower’s credit score. 

Shri Ajay K Khurana, Executive Director, Bank of Baroda said, “The Bank is pleased to drop its home loan interest rates and introduce a very special limited period offer of 8.50%. The offer will make home purchases more affordable for home buyers in the current scenario where interest rates have risen considerably. The reduction in interest rates for the MSME sector will further support aspiring entrepreneurs and finance their growth ambitions.” 

Bank of Baroda has also simplified the process of applying for a Home Loan. Customers can digitally apply for and get approval for a home loan within 30-minutes* by logging in to the bob World mobile banking app or visiting the Bank’s website. Applicants can also apply for a loan by visiting any of Bank of Baroda’s branches across India. 

Key features of Bank of Baroda Home Loans 

Interest rates starting at 8.50%* p.a. for a limited period 

Zero processing charges 

Takeover of home loans with minimum documentation 

Flexible tenure up to 360 months 

No Pre-payment/Part-payment charges 

Avail Digital Home Loans with quick approval in just a few steps in just 30-minutes 

Door step service at major centres 

IndianOil, Kotak Launch Co-Branded Fuel Credit Card Across India

Kotak Mahindra Bank Limited (“KMBL”/Kotak) and IndianOil today launched a highly rewarding, co-branded fuel credit card. The IndianOil Kotak Credit Card is available on the RuPay network.

IndianOil is the largest oil marketing company, with a network of over 34,000 fuel stations in the country. IndianOil Kotak Credit Card customers can earn reward points on refueling at any of the IndianOil fuel station in the country. These reward points can be redeemed to get free fuel at IndianOil fuel stations.

At an event organized in the city, the card was launched by Mr. Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank Ltd; Mr. Frederick Dsouza, Business Head – Credit Cards, Kotak Mahindra Bank Ltd; Mr. Vigyan Kumar, Executive Director (Retail Sales- North & East), IndianOil and Ms. Praveena Rai, Chief Operating Officer, National Payments Corporation of India.

Key features of IndianOil Kotak Credit Card:

Earn 4% back as reward points on refueling at IndianOil fuel stations – up to Rs 300 per month

Earn 2% back as rewards points on dining, grocery and other payments – up to Rs 200 per month

Earn 1% fuel surcharge waiver – up to Rs 100 per month

Interest – free credit period up to 48 days

Smart-EMI

Zero lost card liability

Contactless card - Tap and pay

“We are very excited to have a fuel proposition in our product offering. The product has been designed to encourage customers to put all their purchases on this card. The strong brand and distribution network of IndianOil is a great strength of this partnership. The Rupay platform will help us extend innovative payment solutions to customers and drive wider adoption of digital payments,” says Mr Frederick Dsouza, Business Head – Credit Cards, Kotak Mahindra Bank Ltd.

Speaking about the collaboration, Mr. Vigyan Kumar, Executive Director (Retail Sales- North & East), IndianOil, said, “IndianOil is committed to a Digital India, as envisioned by our Hon’ble Prime Minister and with this partnership, IndianOil is taking yet another concrete step towards ensuring digital interactions at all our fuel stations. Bettering our customer value propositions and experiences has always been a priority for us at IndianOil, and I am confident that this collaboration with Kotak Mahindra is a perfect addition to our bouquet of seamless and enhanced offerings to our customers. I am also happy to share that the IndianOil Kotak Credit Card will be exclusively launched on RuPay platform, strengthening the AatmaNirbhar Bharat vision of the Government of India.”

“NPCI is always committed to deliver customer-first experiences. For us, innovation and technology are the key instruments to drive towards a better and greater consumer experience and we are constantly working towards bringing in simplified and best-in-class offerings for our customers. The IndianOil Kotak RuPay Credit Card will give the cardholders a host of privileges on fuel, grocery and dining spends, creating a seamless payment experience with RuPay Contactless technology,” says Mr. Rajeeth Pillai, Chief – Relationship Management and Marketing, National Payments Corporation of India.

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31st December, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,752 branches and 2,814 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, please visit the company’s website at https://www.kotak.com/.

About Indian Oil Corporation Limited

IndianOil is a diversified, integrated energy major with presence in almost all the streams of oil, gas, petrochemicals, and alternative energy sources. With a net profit of Rs. 24,184 crores for the fiscal 2021-22, IndianOil is one the largest and most trusted corporates in the country, touching the lives of over a billion Indians.  With a 33,500-plus workforce, extensive refining, distribution & marketing infrastructure, and advanced R&D facilities, IndianOil has provided energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touchpoints, currently numbering over 50,000.

Visit www.iocl.com to know more.

About National Payments Corporation of India

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

FADA Releases February’23 Vehicle Retail Data For The State of Karnataka

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for February’23 for the State of Karnataka.  

February’23 Retails 

Commenting on how February’23 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “The month of February has continued the good start Karnataka has had to the calendar year 2023 for Auto retail. All the categories have seen a strong growth with 2 W at 16%, PV at 21% , 3W at 115% , CV at 31% and tractors are 13%. With the recent push to investments in Infra by the GoI, We are hoping that the momentum will continue for the rest of the year.”  

HCLTech Receives Top Global Recognitions For Its “ESG Performance”

* MSCI Rates HCLTech As ESG ‘Leader’ In The Software And Services Industry 

HCLTech, a leading global technology company, announced it has been recognized by globally-renowned research and ratings agencies for its strong environmental, social and governance (ESG) performance. These recognitions underscore the significant progress made by HCLTech in implementing its corporate sustainability vision.   

MSCI has rated HCLTech as an ESG ‘Leader’ in the software and services industry. The MSCI ESG ratings evaluated 8,500 companies on their exposure to industry-material ESG risks and their ability to manage those risks relative to peers. The ratings range from ‘leader’ (AAA, AA), ‘average’ (A, BBB, BB) to ‘laggard’ (B, CCC). This year, HCLTech has been recognized as a leader with an “AA” rating, a significant move up from last year’s “A” rating.  

The coveted S&P Global Sustainability Yearbook 2023 has recognized HCLTech as an ‘Industry Mover’. The Yearbook lists leading companies that have demonstrated sustainable business practices in their operations. The assessment is based on S&P’s rigorous Corporate Sustainability Assessment framework. For the 2023 edition, over 7,800 companies across 61 industries were analyzed by S&P.  

HCLTech has also been included in Sustainalytics’ 2023 Top-Rated ESG Companies list in the Software and Services Industry segment and in the Asia Pacific Region. HCLTech has been placed in the ‘low-risk’ category by Sustainalytics in an assessment of 15,000+ companies globally based on their ESG performance.  

“Sustainability is at the core of HCLTech’s business strategy and we are committed to supercharging progress for clients, our people, communities and the planet. These recognitions are a strong endorsement of our sustainability agenda and the execution strategy of our teams,” said C Vijayakumar, CEO & Managing Director, HCLTech.  

HCLTech’s sustainability strategy is based on three guiding principles: 

ACT: Act in the most responsible and sustainable manner and ensure every resource is used efficiently to maximize value  

PACT: Work for a sustainable future, in collaboration with our clients, partners, communities, and all stakeholders 

IMPACT: Focus on creating sustainable impact through all initiatives and activities 

HCLTech aims to achieve net-zero emission target by 2040 and a reduction of 50% on absolute scope 1 and 2 emissions by 2030. The company also targets to transition 80% of its electricity through renewable energy by 2030. Last year, the company launched its sustainability school, delivering a learning series on climate change for its 222,000+ employees. 

The company has made demonstrable progress on its sustainability commitments and continues to create and deliver technology-led sustainable solutions to clients and purposefully contribute to the communities to make a positive impact on people and planet. 

Manipal Academy of Higher Education Expands Global Education Offerings With New Partnership In Nursing Education

Manipal Academy of Higher Education (MAHE), one of India's premier higher education institutions & Institution of Eminence conferred by GOI , has signed a Memorandum of Understanding (MOU) with the University of Dalhousie. The MOU was signed during the visit of a ten-member delegation from University of Dalhousie and Nova Scotia Health/Government Canada to the MAHE campus.

The main objective of the MOU is to explore collaboration opportunities in the field of nursing at MAHE. This partnership marks a significant milestone for MAHE as it seeks to expand its global education offerings and strengthen its international partnerships to achieve a fruitful collaboration. Key officials from both MAHE and the visiting delegation attended the MOU signing ceremony.

Lt. Gen. (Dr.) M. D. Venkatesh, Vice-Chancellor of MAHE expressed his delight saying:  "We are thrilled to welcome the delegation from the University of Dalhousie and Nova Scotia Health/Government Canada to our campus. This partnership will create new opportunities for our students and faculty and enable us to exchange knowledge and best practices in nursing education and research."

This collaboration demonstrates MAHE's commitment to providing world-class education and preparing its students for success in a Globalized world. The partnership is expected to enhance MAHE's nursing program and enable students to gain a deeper understanding of international healthcare practices.

The purpose of this collaboration is to encourage students and faculty to engage in knowledge-sharing and collaborative initiatives, creating new opportunities for growth and development for all parties involved.

ISRO Scientist Urges Use Of Space Technology, Other Experts Inspire Students At The 10th Edition Of TEDxNMIMSBangalore

TEDxNMIMS Bangalore celebrated its tenth anniversary with its annual premiere conference held recently. After the success of the past two virtual events, this year saw the return of an offline event at the NMIMS Bengaluru campus. The event brought  together people from the University, the local community, and beyond in an engaging day of talks and performances.

While delivering a lecture on “Unfolding the Manifold” at the tenth anniversary of TEDxNMIMS, Dr P G Diwakar, Scientific Secretary, Indian Space Research Organization (ISRO), has called upon the experts to use space technology for preparing an action plan for sustained water resource development in India and also to take help of multi-season data in order to study crop production estimation.

Stressing that "we all are connected to the space in some way or the other”, Dr Diwakar was of the view that “Multi-season data determines how we Indians use the land for crop production estimation.”

The Senior ISRO Scientist said "Use of Geo-Spatial technology puts into the system the ground knowledge for better plans for sustainable development.” Bhuvan Geo portal- a unique platform, provides layers of data for integration and  extraction of unique information regarding the action plan of sustained water  resource development,” he opined.

Dr Diwakar was of the view that "Multilayered GIS data helps to  map out minute details of a given area for the on-ground perspective.”

Dr Bindu Hari, Vice Chairperson, National Public School Chain, said "Teachers lead the learning of their students by empowering and enabling them to become future-ready. Every child is on a learning continuum. Well-being and successful education of children are the ultimate goals. It is the teacher who is the key to a successful and enjoyable journey of the student. All teachers need to know out-of-the-box ways to connect with their students. Teachers build a sense of community, paving the way for socio-emotional well-being through connection,” she said.

Dr Zulfia Shaikh,Founder, Bangalore School of Speech and Drama called upon the student community to listen to their “inner voice” to achieve their goals while Madhurima Agarwal, Country Head India, Microsoft for Startups called upon the students to rewrite their success story in terms of what makes them happy.

Dr John Ebenezer,Renowned Orthopedic Surgeon was of the view that personal success, professional success, and material success are the factors which make one happy in life”. As an Orthopedic surgeon, he stressed on maintaining a bone-healthy life to seek happiness in life.

On the other hand, Dr Jayasankaran Ayyar,Director General BIM,  was of the view that ”Art of learning focuses on how to learn rather than what to learn. Liberal education encompasses the essence of the process of learning. One must learn vocabulary to master one's speech. The ultimate goal of teachers is to develop intellect to the sharpest level.

Suparna Ganguly,Co-founder CUPA Foundation opined "Information is power. Without information, you can’t change anything,” while Pallavi Pareek, CEO of UNGENDER was of the view  that "Law is not justice. When it comes to the intersection of understanding of the law, business, on-ground issues, behaviour, you need an expert. The expertise in the ecosystem has to exist or else you will end up doing more damage”.

Introducing the speakers, Dr Narayani Ramachandran, Deputy Director of NMIMS Bangalore said the Institution was ranked first among the private business schools in India and had achieved 100 per cent success in job placements this academic year.

The event focused on unravelling the stratified levels in the library of life's experiences, encouraging attendees to dig deeper through layers and keep the flames of their curiosity alive. The conference sought to inspire the audience to look beyond surface-level appearances and discover the multiple layers of depth and complexity in everything.

The event emphasized learning and featured interesting speakers, which sparked many discussions and had a ripple effect. The personalities, through their work, showed the true meaning of stepping out of one’s comfort zone, personally and professionally, and achieving new heights.

TEDxNMIMS Bangalore believes in creating a powerful and informed community dedicated to lifelong learning. The organization helps world-changing innovators from around the globe to amplify the impact of their brilliant ideas. By conducting TEDx events, TEDxNMIMSBangalore aims to push its community towards a brighter future.