NEC Corporation’s Aalok Kumar Joins ADB's High-Level Advisory Group On Digital Technology For Development In Asian countries

Aalok Kumar, Corporate Officer & Sr VP - Head of the Global Smart City Business, NEC Corporation, and President & CEO, NEC Corporation India, has been appointed as a member of the Asian Development Bank’s (ADB) High-level Advisory Group on Digital Technology for Development with effect from  May 1, 2023. The eight-member group, consisting of global industry leaders in digital technology and academicians, is committed to further accelerating the utilization of ICT technology among ADB activities for developing countries.

Kumar takes on this role from Katsumi Emura, former NEC Corporation Fellow, one of the founding members of the group. Carrying Emura’s legacy forward, Kumar will leverage his decades of experience and wide range of knowledge in providing strategic counsel towards the optimal adoption of digital technologies for ADB to carry out its developmental work. 

Commenting on the appointment, Kumar said, “I feel humbled to have been elected to represent NEC Corporation as part of Asian Development Bank’s High-level Advisory Group on Digital Technology. I look forward to the opportunity to work alongside this esteemed group of industry luminaries to help develop strong strategies for ADB to carry out critical developmental work in Asian countries, cutting across multiple focus areas.” 

Asian Development Bank was established in 1966 as a regional development bank to promote social and economic development in Asia. This advisory group was founded in 2019, with a core purpose to help devise digital strategies on ADB’s operational priorities, as defined in “ADB Strategy 2030.” These priorities include addressing poverty, reducing inequality, mitigating climate change, bridging the gender gap, and making cities liveable. 

These are in alignment with NEC’s own vision and priority areas for its work in the developing world, and in that regard, this appointment serves as an opportunity for NEC Corporation to accelerate and further cement its efforts towards solving the challenges of the developing world. “This accelerates NEC’s mission of ‘Orchestrating a brighter world’ - bringing immeasurable impact in societies leveraging the power of technology,” Kumar further added.  

An alumnus of St. Stephens College, Delhi and Indian Institute of Management, Ahmedabad, Aalok Kumar brings nearly three decades of experience in senior leadership roles in business transformation, performance improvement, and margin expansion. Prior to taking up the mantle as the President and CEO of NEC India in 2020, he served as the Senior Vice President of McKinsey & Company. He has also worked in companies that include GE Healthcare, GE Capital and ABN Amro Bank.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Housing.com & PropTiger.com Parent Company REA India Makes It To 3rd Spot On Great Place to Work® List 2023

* The PropTech company was also recognized as India's Best Workplaces in Retail 2023 in the e-commerce category for the third time. 

India’s leading full stack PropTech company REA India that owns Housing.com, PropTiger.com & Makaan.com, has been recognized among India’s 100 Best Companies To Work For™ 2023 by Great Place to Work® for the fifth time. Featured at the 3rd spot, the Gurgaon-headquartered company has made it to the Top- 25 Best Workplaces list for the third time in a row.

The honour comes shortly after it was recognized as India's Best Workplaces in Retail 2023 (e-commerce category) for the third time, and Best Workplaces ™ in Building a Culture of Innovation by Great Place to Work®.

Great Place to Work’s methodology, based on employee feedback and assessment of culture, is recognised as rigorous and objective, and is considered the gold standard for defining great workplaces. In India, the institute partners with more than 1,100 organizations annually across over 22 industries to help them build high-trust, high-performance cultures.

REA India is a subsidiary of leading global PropTech conglomerate The REA Group, an Australian Stock Exchange listed company. It is India’s leading full-stack digital real estate company and the fastest growing company in the online real estate space in India. The company offers advertising and listings products to real estate developers, agents and homeowners, exclusive sales and marketing solutions to builders, and data & content services, personalized search, virtual viewing, site visits, negotiations, and post-sales services to home seekers. It also offers allied services such as home loans, online rent payment, rent insurance, solar rooftop, movers & packers solutions among others to consumers. 

Mr. Dhruv Agarwala, CEO, REA India, said, “At REA India, we truly cherish the immeasurable value of our people, and recognise them as our greatest asset. We take tremendous pride in being the country's leading PropTech company, boasting the largest audience on our platform, Housing.com,  and consistently achieving high double-digit revenue growth over the last few years. This exceptional progress is truly driven by the commitment of our remarkable teams." 

Since our founding in 2011 with PropTiger, we have thrived through continuous innovation, a relentless focus on delighting our consumers, and through strategic acquisitions such as Housing.com.

Today, we stand tall as an integral part of the global PropTech powerhouse, The REA Group. Our single-minded focus on our people has established us as a people-first organisation, fostering an environment where our employees feel valued and where they are able to discover purpose in engaging and meaningful work. This ethos has propelled us on a path towards sustainable business success", added Mr. Agarwala.

Rohit Hasteer, Chief Human Resource Officer at REA India, said, " “Buying a home is once in a lifetime opportunity for many of us and our people put in their best to make sure that our consumers get the best in their home buying experience. Our endeavour is to make sure we provide our people the best environment where they can do so and make a meaningful impact. This thriving environment is the REA India Culture, where our people feel belonged, valued, empowered, and raring to go. We believe that our people are our indefinite source of competitive advantage, and it is our duty to offer them an environment where they can discover their highest potential.”

Mr. Hasteer highlighted key initiatives by the company, “We have implemented unique initiatives like early cheque-in policy, granting individuals access to a part of their salary on the 15th of every month. Our hybrid working policy enables people to work from anywhere depending upon the role. We also have a robust strategy to continually improve the women representation in the workforce wherein we have introduced programs like EmpowHER with an aim to hire women returning to work from a sabbatical and those wanting to make career shifts.

“We also facilitate regular sensitization workshops to fight bias, and our CSR initiatives are focused on women empowerment & enablement. At REA India we have built a progressive work culture that is diverse, inclusive, equitable and where people ‘Feel at Home,” Mr. Hasteer added. 

With its positive work environment and great employee experience, REA India is poised to continue leading the way in the digital real estate space and shaping the future of PropTech in India.

Union Bank of India Organized “Investor/Analyst Meet”

Union bank of India conducted an Investor/Analyst Meet. The event was aimed to provide an update on Bank’s strategic initiatives, financial performance and to highlight future growth opportunities in the banking sector. 

The event brings together key stakeholders, including institutional investors, analysts, and industry experts, to gain deeper insights into Union Bank of India's business strategies, market positioning, and its vision for the future.  

During the Investor/Analyst Meet, key discussion points were: 

Overview of Union Bank of India and recent achievements and milestones. 

Published Financial performance of the Bank. 

Discussion on strategic initiatives. 

The roadmap of Digital transformation. 

The event was part of Bank’s outreach programme to boost Investors’ confidence in the organization and build strong relationship with Investor/Analyst Community.  

Seen in the photograph is Ms. A Manimekhalai (MD & CEO), flanked to her right by Shri Nitesh Ranjan (Executive Director), to her left Shri Nidhu Saxena (Executive Director), to her extreme right Shri Ramasubramanian S. (Executive Director). 

Vitesco Technologies And ROHM Have Signed A Long-Term “SiC Supply Partnership”

Highlights

Partnership enables capacity assurance for energy-efficient silicon carbide (SiC) power semiconductors 

Total project volume of over one billion US dollars between 2024 and 2030 is expected 

Basis is the development partnership for chips made of silicon carbide that began in 2020 

As early as 2024 the first series production of SiC power electronics for two major customers is planned 

These chips support highly efficient electric driving and fast charging at the same time 

Vitesco Technologies, a leading international manufacturer of modern drive technologies and electrification solutions, has secured strategically important capacities in energy-efficient silicon carbide power semiconductors through a long-term supply partnership with ROHM – worth over one billion US dollars until 2030.The development partnership with the manufacturer ROHM, which began in 2020, created the basis for the supply partnership now signed in Regensburg. Vitesco Technologies’ advanced inverters with integrated ROHM SiC chips will be adopted by two customers, to be applied inside electric vehicle powertrains. Vitesco Technologies will start supplying a first series project as early as 2024. The company is thus even ahead of the originally targeted timeline. 

SiC devices enable the design of particularly efficient power electronics, such as those needed for electric car inverters. SiC chips are a key technology, particularly for high voltages and for vehicles with demanding range targets and optimum overall efficiency. During the existing development partnership with ROHM the relevant SiC chips were further optimized for use in automotive inverters starting in 2024. 

"The supply partnership agreement with ROHM is an important building block for securing Vitesco Technologies' SiC capacities in the years ahead," said Andreas Wolf, CEO of Vitesco Technologies, at the signing ceremony in Regensburg. "We have had very good experience in our development cooperation so far and are now looking forward not only to continuing it, but also to intensifying it further," adds Wolf. 

"In the high-growth automotive market, SiC is a pathfinder for higher efficiency. With an expected higher market share of more than 30 percent, we are strongly positioned here and have gained a strategic partner in Vitesco Technologies for further market penetration," said Dr. Kazuhide Ino, Member of the Board, Managing Executive Officer and CFO of ROHM Co. Ltd. at the signing ceremony. 

Small cause – big effect 

Silicon carbide belongs to the so-called wide bandgap semiconductors, whose wide bandgap (simplified: the energy gap between the non-conductive state and the conductive state of the electrons in the material) enables lower electrical resistance, fast and low loss switching chips for power electronics. At the same time, SiC chips are more thermally resistant, so that the power density of electronics can be increased. 

Thanks to these features, SiC electronics have reduced conversion losses compared to conventional silicon (Si). Especially at high voltage levels such as 800 V, SiC inverters are more efficient than Si models. Since 800 V is the prerequisite for fast and thus convenient high-voltage charging, SiC devices are at the beginning of a worldwide boom. Reduced conversion losses in the inverter are also significant for the overall efficiency of electric driving and thus for range. Competition for sufficient capacities in components made of this high-tech material is correspondingly fierce. 

Honda Cars India Organizes “Nationwide Monsoon Check-Up Camp”

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, announced the start of its “monsoon service camp” at its authorized dealership facilities across the country till 30th June 2023. 

As a part of company’s customer-centric initiatives, the camp will offer owners a free 32-point car check and top wash along with attractive schemes on select parts such as Wiper Blade/Rubber, Tyre & Battery, Door Rubber Seal and services like headlamp cleaning, front windshield cleaning and underbody anti rust coating.  In addition to this, customers can also get their car evaluation for best exchange price.   

Talking about the initiative, Mr Kunal Behl, Vice President, Marketing & Sales, Honda Cars India Ltd. said, “As a company that is committed to offering enhanced experience to our customers, our extensive dealer network is geared up to organize this monsoon check-up camp.  Supported by trained professionals, the initiative will take care of all necessary checks and ensure a safe and hassle-free driving experience throughout the monsoon season. We urge our customers to visit their nearest dealerships to avail these benefits.” 

During the service camp, the customers can also experience the innovative ADAS technology of Honda Sensing through the test drive of the Honda City.  

From Bangalore To Dubai: Simpl's Zomaland Contest Makes Dream Come True For Lucky Winners

Simpl, India’s foremost 1-tap checkout network, brought joy and excitement to three lucky winners from Bangalore as part of its Zomaland Campaign. Out of the fortunate seven individuals from across the country, Ajay Majumder, Ajay Kumar JV, and Tejas S were selected to experience the wonders of Dubai.

Ajay Majumder said, "I couldn't believe it when I found out I had won. I was really excited afterwards. My family was happy and encouraged me to go for it." Simpl is India's foremost 1-tap checkout network, offering consumers the convenience of one-tap payments to fulfill their needs effortlessly. Currently, more than 26,000 businesses, big and small, and over one crore individuals are connected with Simpl.

The winners of the Zomaland Campaign organized by Simpl were taken to Dubai via Emirates Airlines, known as one of the most luxurious airlines in the world. They had the opportunity to visit the tallest building in the world, Burj Khalifa. Additionally, they enjoyed dining at a renowned Michelin-starred restaurant, which is considered one of the finest restaurants globally.

Ajay Kumar JV, while sharing his initial reaction, mentioned, "I was really surprised when I found out. At first, I thought it was a prank and missed the call. But then, I saw Simpl had tagged me on their official Instagram page, and that's when I realized it was real." He found the app's one-tap payment feature extremely convenient and referred it to his friends.

Tejas S initially had doubts due to numerous offers and trip calls received in the past. However, after receiving confirmation, Tejas expressed happiness and a slight shock. Simpl had been their preferred payment option for the past two years, providing fast and hassle-free bill payments along with attractive offers.

Ajay Majumder, Ajay Kumar JV, and Teja S exemplify how Simpl's Zomaland Campaign created incredible opportunities for its users. As they embarked on their once-in-a-lifetime journey to Dubai, Simpl continued to enhance lives by providing a hassle-free payment experience and making dreams come true with its innovative services.

Castrol, Mahindra Insurance Brokers Announce Strategic Alliance For Castrol Auto Service Workshops

·         Offer will allow Castrol Auto Service (CAS) workshops to sell vehicle insurance

·         Workshops will be able to register as cashless claim sites with leading insurance companies

Castrol India Limited, India’s leading lubricant player, has signed an MoU with Mahindra Insurance Brokers Limited (MIBL), a prominent insurance brokerage firm to enable Castrol Auto Service (CAS) workshops to sell vehicle insurance policies by top insurance companies, further enhancing their customer value proposition.

Through this offer, CAS workshops will be able to empanel themselves as POSPs (Point of Sale Persons) for distribution of eligible insurance policies from India’s leading motor insurance providers in the country through MIBL. CAS workshops now have the option to offer automotive insurance products via a digital platform in addition to repair and maintenance services for their customers’ vehicles.

Sandeep Sangwan, Managing Director, Castrol India Limited, added, “As the automobile industry sees significant growth, with India being the fourth largest automobile market, vehicle insurance has seen unprecedented growth. This potential gives us confidence in this partnership with Mahindra Insurance Brokers Limited to further empower our CAS workshops to reach more customers. It also represents a significant milestone in our service and maintenance strategy, as it will undoubtedly enhance the capabilities of our network workshops and ensure that they are capable of providing exceptional or enhance value to their customers”.

"Vehicle insurance accounts for a high 34% of the non-life insurance premiums in India (according to market studies), and presents an opportunity in a growth market. This partnership with Castrol India, helps scale our reach, and assist these workshops in becoming POSPs with leading insurance companies on our panel, thereby empowering them to offer cashless services and generate incremental business through accidental repairs. Together with Castrol, we are committed to establishing the CAS workshops as trusted service providers in the automotive industry," added, Vedanarayanan Seshadri, Managing Director, Mahindra Insurance Brokers Limited.

This alliance now provides CAS an  opportunity to expand the customer base and offer seamless insurance services, resulting in higher customer satisfaction. Overall, this partnership aims to support CAS workshops in growing their business and establishing themselves as trusted service providers in the automotive industry.

About Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 9 million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has 1,386 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.

Mahindra Finance has been ranked 54th among India’s Best Companies to Work 2021 by Great Place to Work Institute.

Mahindra Insurance Brokers Limited (MIBL), the Company's Insurance Broking subsidiary is a licensed Composite Broker providing Direct and Reinsurance broking services.

Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.

Mahindra Finance CSR Foundation is a wholly owned subsidiary company, under the provisions of section 8 of the Companies Act, 2013 for undertaking the CSR activities of the Company and its subsidiaries.

Mahindra Manulife Investment Management Private Limited acts as the Investment Manager of Mahindra Manulife Mutual Fund.

Mahindra Manulife Trustee Private Limited (MMTPL), acts as a Trustee to Mahindra Manulife Mutual Fund.

Mahindra Ideal Finance Limited (MIFL) is a subsidiary of the Company in Sri Lanka, in which the Company owns 58.2% stake. MIFL focuses on providing a diversified suite of financial services to the Sri Lankan market.

The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicles in the US.

Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook:

@MahindraFin 

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com/ Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room

About Castrol India Limited

Castrol India Limited is one of India’s leading lubricant companies with brands such as Castrol CRB, Castrol GTX, Castrol Activ, Castrol MAGNATEC and Castrol VECTON, which are the brands of choice for millions of consumers and customers across the country. The Company also operates in select segments like High Performance Lubricants and metalworking fluids used in a wide variety of industries such as automotive manufacturing, mining, machinery, and wind energy. Castrol has a large manufacturing and distribution network in India with three blending plants and a distribution network of 350 distributors who reach consumers and customers through over 100,000 retail outlets.

For more information, visit www.castrol.co.in