Ping Pong Enables Indian Businesses To Establish Itself In Australia

Ping Pong Payments, a leading global payment platform, obtained the Australian Financial Services License ("AFSL") from the Australian Securities and Investment Commission ("ASIC"). This license qualifies Ping Pong to offer non-cash payments and forex services in Australia, adding to its already substantial list of operating licenses globally.

The license shall enable Indian business owners to now operate freely and safely in Australian markets. The established network and sophisticated compliance practices in major and emerging global economies allows Ping Pong to assist digital trade coverage in more than 200 countries and regions around the world.

In addition to the global license footprints, the ecosystem for the global payment services provided by Ping Pong includes six major international card organizations, in order to provide the top financial networks to customers globally. In addition to common co-operations such as channels and settlement, Ping Pong has also established deeper cooperative relationships with banks to jointly develop products and expand markets, enabling users to achieve global payment capability and safety.

Addressing the collaboration Mr. Mukesh Sahu, country manager Ping Pong said “With the recent receipt of the AFSL, Ping Pong's customers can enjoy a significantly streamlined cross-border payment solution, with practices strictly-compliant with local regulations and seamless transactions. India is expected to end the fiscal year 2022-23 with a total of US$760-770 billion worth exports. This collaboration shall give the global boost to our countries economy”.

About Ping Pong

Founded in 2015, PingPong is a leading technology company built on the global vision that empowers cross-border digital commerce to grow. PingPong is one of the largest payment and digital trade solution providers serving one million global customers. The company’s one-stop, compliant and comprehensive suite of products include e-commerce payment, B2B trade payment, service acquisition, card issuing, FX management, supply chain finance, VAT services, enterprise solutions, business intelligence software and much more.

Caution For Investors In The Exchange Against Fraud - Jensmon V George

It has been brought to the notice of the Exchange that person named “Jensmon V George” operating through mobile number “9995103502” is providing dabba/illegal trading platform with assured profit. He is also offering to handle trading account of investor by asking investors to share their user ID and password.

The investors are cautioned and advised not to subscribe to any such scheme/product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law. Further, investors are advised not to share their trading credentials such as user id/ password with anyone. It may also be noted that the said person/entity is not registered either as a member or authorized person of any registered member of the National Stock Exchange of India Limited.

In terms of Sections 23(1) of Securities Contracts (Regulation) Act, 1956 (SCRA), any entity / person who contravenes sections 13,16,17 or 19 of the SCRA shall be prosecuted and on conviction, he shall be punishable with imprisonment for a term which may extend to ten years or with the fine up to twenty-five crores or with both. As per Section 25 of SCRA, offences punishable under section 23 are cognizable offences within the meaning of Code of Criminal Procedure,1973 and as such can be investigated by state law enforcement authorities also. In addition to being violative of the securities laws, dabba trading also falls within the purview of Section 406,420 and Section 120-B of Indian Penal Code,1870.

Investors are cautioned and advised NOT to trade on such illegal trading platforms. Participation in such illegal platforms is at the investor’s own risk, cost and consequences as such illegal trading platforms are neither approved nor endorsed by the Exchange.

The investors may note that for any kind of disputes relating to such prohibited schemes none of the following recourses will be available to investors:

1.      Benefits of investor protection under Exchange's Jurisdiction

2.      Exchange dispute resolution mechanism

3.      Investor grievance redressal mechanism administered by Exchange.

Investors are advised to take note of the above.

*Issued in interest of investors*

With 'Easy Money' Off The Table, Deep Science Tech Investing Offers Moats And Long-Term Value Creation For Investors

With 'easy money' off the table, investing in deep science tech startups offer deep moats and long-term value creation for investors, says Ritu Verma, Managing Partner & Co-founder at Ankur Capital, at a panel on fundraising at the flagship TechSprouts Deep Science Forum 2023.

The flagship TechsSprouts Deep Science Forum 2023 was hosted by Ankur Capital and Hello Tomorrow, Asia Pacific in collaboration with the Wadhwani Research Center for Bioengineering (WRCB) and the Society for Innovation and Entrepreneurship (SINE) on 17th April at the IIT Bombay campus. The event brought together all the stakeholders in the deep science ecosystem - researchers, startups, universities, venture capitalists, and industry partners to network and collaborate on scaling up the deep science ecosystem.

Deep science solutions are technologies driven by substantial scientific or engineering breakthroughs. Inventions from such scientific labor include the computer, the laser, CRISPR (for gene editing), and electric vehicles. Most deep science tech have their beginnings in university or corporate research labs and end up in applications across sectors from healthcare and biotech to clean energy to agriculture to aerospace.

In her keynote address, former Secretary of the Department of Biotechnology, Dr. Renu Swarup highlighted, “The number of biotech startups in India grew from 50 companies in 2012 to over 6000 startups today. There are now 750 startups with valuations over 3500 crores. By 2025, the bioeconomy is expected to record 10,000 startups and achieve over $100 billion in value.” She also noted that deep science is interdisciplinary. Biopharma is one sector. Deep science solutions are needed to drive growth in other sectors as well.

Investors emphasized the importance of achieving scale. Arun Dubey commented, "Keeping quality and economics tight are the biggest challenges." For deep science tech startups to achieve commercialization, they have to prove their economic viability in a relatively short period. Translating an early stage technical proof of concept (PoC) to a commercial stage PoC is an extensive challenge. Parameters that can be controlled at the 5 gram scale are very different from the 500 tonnes scale. Founders have to tackle fundamental engineering challenges ahead of business models.

Deep science tech startups are often deemed more risky than their mainstream digital counterparts but Vibhore Sharma, Partner at Capital2B, emphasized, “Value creation is simply different for this ecosystem. We’ve borrowed from the digital playbook but we need our own models for deal structuring and valuations.” While typical VC-backed startups follow a fundraising series tacked with comparables and revenue multiples, the value of the underlying technology at deep science startups can be different from the value of the product in the market.  Dr. Hemang Shah, India Engineering Lead, Qualcomm, stressed the importance of intellectual property (IP) strategy of a company as a core component of its business strategy - using it to fundamentally drive value. Deep science startups then often look to industry capital at the growth stage, which is more strategic in nature.

Hello Tomorrow, co-host of TechSprouts Deep Science Forum 2023, is a pioneering deep tech organisation accelerating the transfer of science-based technologies to solve some of the world's most pressing industrial, environmental and societal challenges. Xinyi Tow, Managing Director at Hello Tomorrow, Asia Pacific invited Indian deep science startups to the Hello Tomorrow Asia Pacific Challenge 2023 in Singapore October 4-5. She urged entrepreneurs to leverage the platform to take their solutions from India to the world. Startups showcased during the forum included Aumsat, Avisa Myko, Manastu Space, MyoWorks, Ossus Biorenewables, Piatrika Biosystems, and Voltrez.

RBL Bank Launches Unique Digital Fixed Deposit Scheme For New-To-Bank Customers

* End-to-end online booking of FDs in a Do-It-Yourself (DIY) mode

* High Interest rate of up to 7.8% p.a.

RBL Bank, announced the launch of an innovative Digital Fixed Deposit (FD) scheme available to new-to-bank customers. With an interest rate of up to 7.8% for a tenure of 15 months to 725 days, the digital FD provides investors with an interesting investment option. Customers can book the Digital FD within minutes without having to visit a branch or opening a savings account with the Bank.

The online FD comes with several additional benefits, such as embedded insurance cover, seamless savings account opening process, ability to track and manage FD digitally, etc. The FD holders can opt for insurance cover under a Hospital Daily Cash Benefit policy which offers daily cash benefit for hospital expenses. Customers can download RBL Bank MoBank App for viewing their fixed deposit receipts online.

The Digital FD is enabled through a quick online KYC process, making it easy and hassle-free for customers to open an FD within minutes. The three simple steps are (i) providing Aadhaar linked Mobile number and PAN details (ii) completing the KYC status using Video KYC and (iii) funding the fixed deposit using online payment methods.

Deepak Gaddhyan, Head of Branch & Business Banking, RBL Bank said, “We are delighted to offer our Digital Fixed Deposit product to New-to-Bank customers. This unique offering is a part of our new-age banking solutions that seamlessly integrates traditional and digital channels. The online Fixed Deposit is a secure and reliable investment avenue that will enable customers to get better returns and build savings over a period of time.”

About RBL Bank

RBL Bank is one of India’s leading private sector banks with an expanding presence across the country. The Bank offers specialized services under five business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets and Treasury and Financial Markets Operations. It currently services over 12 million customers through a network of 516 branches; 1,168 business correspondent branches (of which 298 banking outlets) and 413 ATMs, total customer touchpoint 2,097, spread across 28 Indian states and Union Territories. RBL Bank is listed on both NSE and BSE (RBLBANK). For further details, visit: www.rblbank.com

NTPC And Chempolis India To Collaborate On Feasibility Study Of Setting Bamboo Based Bio-Refinery At Bongaigaon, Assam

NTPC, the largest power generating utility in India, and Chempolis India, a Fortum group associate Co & a leading Finnish Bio-Refining technology provider, have signed a non-binding Memorandum of Understanding on 10th April 2023 to explore the feasibility of setting up a Bamboo Based Bio-Refinery in Bongaigaon.

Through this MoU, NTPC will work with Chempolis to conduct the feasibility study for the project which shall utilize bamboo for the production of 2G Ethanol, Bio-Coal for thermal power plants & other value-added products.

This innovative project aligns with our commitment to sustainable development and creating new opportunities for local communities.

The proposed Bio-Refinery is planned as an integration project with NTPC Bongaigaon Power Plant, where all utility requirements such as steam, power, etc., shall be supplied from the power plant and the Bio-Coal produced by the Bio-Refinery shall partly replace coal in the power plant, effectively converting 5% of the generation of the power plant to green. The project will support NTPC’s decarbonization efforts, create job opportunities and build a sustainable model by promoting the use of locally available resources.

M/s EIL is the Project Consultant for NTPC for the preparation of the Detailed Project Report.

The MoU was signed in presence of Shri Dillip Kumar Patel, Director (HR) NTPC, Shri Ashok Kumar Kalra, Director (HR) EIL and Mr Markus Alholm, President & CEO Chempolis.

Tata Building India School Essay Competition Showcases Children's Vision For India

·         Tata Building India is the largest national school competition

·         Held across 7,500 schools in more than 400 cities with participation by 1.2 million students

·         48 winners felicitated

·         National winners got an opportunity to meet the Honourable President of India, Smt. Droupadi Murmu,  and visit the Rashtrapati Bhawan

The Tata group felicitated 48 National winners of the 14th and 15th Edition of the Tata Building India School Essay Competition at a glittering ceremony in New Delhi. The essay competition provides a unique platform to encourage young leaders of tomorrow to showcase their expressions in writing, on a host of national and social issues.

The editions of the Tata Building India Essay Competition saw participation of over 7,500 schools attracting 1.2 million students writing in 13 languages covering more than 400 cities. The languages included English, Hindi, Tamil, Kannada, Marathi, Gujarati, Odia, Malayalam, Telugu, Assamese, Bengali, Punjabi and Urdu.

Speaking on the occasion, Mr. Harish Bhat, Brand Custodian, Tata Sons, said, “The Tata group has always been at the forefront of nation-building and nurturing young minds. To the brilliant young minds who have won this essay competition, I want to say that you are the future leaders of our country. Your vision, creativity and passion gives me the confidence that our future is in good hands. Congratulations on this well-deserved honour”.

The competition across these editions encouraged students to express their thoughts on the topics ‘Five things I will do to build a great India’ and  ‘What are the 5 things you would suggest to make India a clean and healthy place and what habits can you and your friends adopt to achieve this objective?’.

The winning essays reflected impactful and profound thoughts of young India. Some of the noteworthy themes expressed of the winning essays were:

·         Lead by example – Be the change you wish to see

·         Reduce – Reuse – Recycle

·         Swach Bharat Abhiyaan ka uddeshya

·         Swadeshi – Atma nirbharta

The essay competition was held in two phases across the country, with participation from students of classes 6th–12th. In the first phase, students were shown inspirational films on the Tata group’s contribution to nation building after which they were given the above topics to pen an essay. The students were divided into two participating categories of junior classes 6th – 8th and senior classes  9th – 12th across all languages. The essay is written only once by the students and the same is evaluated at the school, city, and national levels by an eminent panel of judges in each language. TCS iON, a division of Tata Consultancy Services, was responsible for executing the Tata Building India School Essay Competition across India. 

Khushi Prajapati, Junior 1st Runner-up, Hindi, TBI 2019-20 from Pyari Devi Tapria Sr. Sec School, Nagaur, said, “Participating in this competition has been an incredible experience for me. The essay topic was close to my heart, and I felt that I could use this platform to express myself. I thank the judges for appreciating my essay and the Tata group for creating this platform”.

Avantika V Rao, Junior Winner, English, TBI 2020-21 from Anandathirtha Vidyalaya, Udupi, said, “Winning this competition is a reminder of the power of ideas and the importance of engaging in thoughtful dialogue. Through this competition, I have not only honed my writing skills, but I have also gained a deeper appreciation for the value of intellectual curiosity”.

For more information, log on to www.tatabuildingindia.com.

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 2021-22, the revenue of Tata companies, taken together, was $128 billion (INR 9.6 trillion). These companies collectively employ over 935,000 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 $311 billion (INR 23.6 trillion) as on March 31, 2022. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital, and Tata Electronics.

Sterling And Wilson Wins Major “T&D Orders In India Worth ~ INR 1,080 Crore”

Sterling and Wilson Private Limited (SWPL), a Shapoorji Pallonji Group Company, and one of India’s leading engineering, procurement, and construction (EPC) companies, announced that it has recently won three new Rural Electrification orders aggregating to ~ INR 1,080 crore. The Rural Electrification orders are turnkey projects awarded under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme. 

The first order is awarded by Chhattisgarh State Power Distribution Company Limited (CSPDCL) in Rajnandgaon district, Chhattisgarh, followed by other two orders awarded by South Bihar Power Distribution Company Limited (SBPDCL) in Nalanda (also covering districts in Nawada) and Gaya. The projects, aimed at Development of Distribution Infrastructure at Electric Supply Circle, will positively impact the lives of lacs of people in the regions, and come with a 30-month timeline.  

Commenting on this occasion, the newly appointed CEO for Transmission & Distribution Business at Sterling and Wilson Private Limited, Mr. Sudhir Mahajan said, “Government of India has committed significant result-linked investments in their vision for rural electrification. Aligned with its broader goals of achieving universal access to modern energy services, promoting sustainable development and reducing AT&C losses, the government has launched several schemes to improve the quality and reliability of electricity supply in rural areas. We, at Sterling and Wilson, are committed to aligning with the government’s vision and are thrilled to bag three orders in this segment in the country.” 

Sterling and Wilson with its superior execution expertise is perfectly poised to leverage the growing opportunities in T&D space in India and international markets. The company's success in winning these orders is a testament to its commitment to providing reliable and sustainable electrification solutions to communities in need.” he added.