Bank of India Rolled – Out Mahila Samman Savings Certificate, 2023

·         First bank to operationalize this scheme at all its branches

·         The scheme offers an interest rate of 7.5% per annum, compounded quarterly.

Bank of India, one of the largest Public Sector Banks in India, has officially launched the Mahila Samman Savings Certificate, 2023. The roll-out ceremony was inaugurated by the MD & CEO, Shri Rajneesh Karnatak through a VC (Video Conference). The event was also attended by ED Shri. P.R Rajagopal, Shri M. Karthikeyan, CGM's, GM's from the Corporate Office, and representatives from all offices of the National Banking Group & Zones, who joined in via VC.

MD and CEO Shri Rajneesh Karnatak highlighted that Bank of India is the first bank to operationalize this scheme at all its branches, making them authorized to open accounts under the Mahila Samman Savings Certificate, 2023.

The honourable Finance Minister, Mrs. Nirmala Sitharaman, announced this flagship scheme during the Budget speech FY 2023-2024 on February 1, 2023. Under the scheme, individual girls or women can open a Mahila Samman Savings Certificate, or a guardian can open an account on behalf of a minor girl. The minimum investment required is Rs 1000/-, and any sum in multiples of Rs 100/- can be deposited, up to a maximum limit of Rs 200,000/-. Individuals can open multiple accounts with a gap of three months between each account, subject to the overall investment cap of Rs 2,00,000/-.

Deposits made under this scheme will earn an attractive interest rate of 7.5% per annum and that will be compounded quarterly and credited to the account. All earnings under the Mahila Samman Savings Certificate will be taxable as per existing income tax provisions. However, TDS (Tax Deducted at Source) will not be deducted under the scheme.

The account will mature after two years from the date of opening, and accounts under this scheme can be opened until 31/03/2025. The scheme also provides a nomination facility. In the event of the account holder's death, the account can be closed prematurely. Premature closure can also be availed in cases of extreme compassionate grounds, such as life-threatening diseases of the account holder or the death of the guardian, where the operation or continuation of the account causes undue hardship to the account holder.

In the case of premature closure under the above conditions, the interest on the principal amount will be payable at the rate applicable to the scheme, i.e., 7.5%. Account closure can also be requested by the customer in case of emergencies or at their discretion, with a penalty of 2% after six months from the date of account opening, and the applicable interest rate will be 5.5%. Account holders can also make partial withdrawals, up to 40% of the eligible balance, after one year from the date of opening the account.

Until now, only post offices were authorized to open accounts under the Mahila Samman Savings Certificate, but the government has allowed scheduled banks to offer this facility through a gazette notification dated 27-06-2023, and Bank of India is the first bank to roll out this scheme.

The All-New Nokia 110 4G And Nokia 110 2G, Comes With UPI Scan And Pay Facility

* Scan and Pay feature on Nokia 110 4G & Nokia 110 2G is here to make digital payment so convenient

* Built-in UPI payment App with scan and pay feature comes in a nano texture body

* Wrapped in a premium modern design, giving you the luxurious touch feels

* Beauty inside and out, Nokia 110 2G & Nokia 110 4G comes with SD card slot, MP3 Player, Wireless FM Radio starting at INR 1699

HMD Global, the home of Nokia phones, introduces two new Feature phones today - Nokia 110 4G and Nokia 110 2G, that redefines the way you communicate. Immerse yourself in luxury with its sleek and premium design, elevating every touch to a lavish experience. Say goodbye to unclear conversations, as Nokia 110 4G phone supports HD voice, delivering exceptional clarity for seamless communication.

But that's not all – we've taken convenience to the next level. With the all new Nokia 110 4G & Nokia 110 2G, you can now enjoy the ease of UPI payments right with just a press of a button . Say goodbye to cumbersome cash transactions and embrace the simplicity of Scan and Pay. This game-changing feature sets the Nokia 110 4G & Nokia 110 2G (2023) apart in the feature phone market, providing you with convenience. This innovative capability will bring vast numbers of feature phone users into the digital and payments ecosystem.

The new feature phone offers a new sleek design with the trusted build quality of Nokia phones blended in their signature style. It has a compact form factor for ease-of-use, an all-new modern finish, and it is packed with standout features like a built-in rear camera, SD card slot, music player and an auto call recorder with bigger storage. Capture precious moments with the built-in camera, and enjoy your favourite tunes on the go with the MP3 player and MicroSD card slot. The Nokia 110 4G is designed to keep up with your active lifestyle, featuring a long-lasting battery that ensures uninterrupted usage throughout the day.

Ravi Kunwar, Vice President, HMD Global: “Continuing our push to give the best phone experience with revolutionary features to our consumers , the Nokia 110 4G & Nokia 110 2G  reinforces our leadership with its remarkable features.

With the inclusion of Scan & Pay UPI functionality in our feature phones, we are proud to empower feature phone users by enabling them to engage in secure and convenient digital transactions. Our goal is to ensure that users can effortlessly adapt to the changing times and embrace the convenience of modern digital payments. Get ready to experience a new level of empowerment and convenience with the Nokia 110 2023, as we redefine what a feature phone can do.”

The Nokia 1102G & Nokia 110 4G (2023) comes with superior build quality, incorporating a sturdy 1000 & 1450 mAh battery respectively and expandable 32GB storage. With this feature phone you will be able to do much more without worrying about running out of power. With the new wireless FM Radio feature, you will be able to access news, music or sports through your favorite FM stations on the go without headsets.

Experience the power of seamless communication and effortless payments with the Nokia 110 2G & Nokia 110 4G. This feature phone is a true game-changer, offering a luxurious touch, crystal-clear conversations, and the convenience of the Scan & Pay UPI payments, all in one sleek device.

Variants, pricing and availability

The Nokia 110  4G  will be available in two stylish colours Midnight Blue & Artic Purple. Nokia 110 2G  will be available in two colours charcoal & Cloudy Bluein India, at retail stores,  on Nokia.com/phones ,  and online partner stores.

The price for Nokia 110 4G (2023) will be INR 2499 and Nokia 110 2G  (2023) will be INR 1699.

About HMD Global

Headquartered in Espoo, Finland, HMD Global Oy (“HMD”) is the home of Nokia phones and HMD Services. HMD’s mission is providing accessible connectivity for everyone. HMD designs and markets a range of smartphones and feature phones and an expanding portfolio of innovative service offerings.  With an ongoing commitment to security, durability, reliability, and quality across its range, HMD is the proud exclusive licensee of the Nokia brand for phones, tablets and accessories. For further information, www.hmdglobal.com.

Waaree Renewable Technologies Commissioned 122.5 MWp Solar Power Projects To Provide Electricity To 153125 Homes

* Solar Power Project for UPC Renewable's Masaya project to generate 349 MU annually, and reduce CO2 emissions by 3,73,422 metric tons~

Waaree Renewable Technologies Ltd. (WRTL), a subsidiary of Waaree Energies Ltd., India’s largest solar panel manufacturer, has announced that it has commissioned 87.5MW/122.5 MWp out of 150 MW/210 MWp EPC solar power project for UPC Renewable Energy Pvt Ltd.’s subsidiary M/s. Masaya Solar Energy Pvt. Ltd. in the Khandwa district of Madhya Pradesh.

The solar power project is spread across 651 acres of undulated land terrain, with power being evacuated at a 220 kV voltage level and connected at PGCIL 400 kV/220 kV SS through the ISTS (inter-state transmission system) network. A total of 5,08,072 SPV modules, ranging from 335 Wp Polycrystalline to 540 Wp Monocrystalline, with an inverter capacity of 3.125 MW were installed. The PPA (solar power purchase agreement) for the project has been made with the Solar Energy Corporation of India for a period of 25 years.

Commenting on the project, Mr Alok Nigam, Countary Head, UPC Renewable Energy Pvt Ltd, (holding company of Masaya Solar Energy Pvt. Ltd.,) said “This solar power project is expected to produce 349 MU annually, and will reduce CO2 emissions by 3,73,422 metric tons. Once connected to the grid, the project will fulfil the annual electricity requirements of nearly 278,000 homes in a clean and sustainable manner”.

Speaking about WRTL’s involvement in the project, Mr Viren Doshi, Director, Waaree Renewable Technologies Ltd., said “At Waaree, we’ve always focused on contributing to a greener tomorrow by helping increase the number of solar power plants in India. This project with UPC Renewables is our first with ISTS connectivity. In addition to providing EPC solutions, we will also carry out operation & maintenance on the plant for a period of 2 years. We look forward to work closely with UPC Renewables to support this project and help drive the renewable energy revolution in the country”.

WRTL is one of the leading EPC (Engineering, Procurement & Construction) service providers in the solar energy sector, having installed over 1 GW of solar projects, including on-ground rooftop and utility projects, till date.

About Waaree Renewable Technologies Ltd (WRTL)

Waaree Renewable Technologies Limited (WRTL) is subsidiary company of Waaree Energies and spearheading the Solar EPC business of Group. WRTL is also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, WRTL operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. Waaree group is a leading renewable energy group that caters Individual, Industrial and Commercial customers by encouraging them to adapt energy solutions that helps in reducing the release of carbon. WRTL provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants).

India’s EV Industry Left Stunned By FAME II Scheme Withdrawal

* The apparent success and the cost of the schememade government withdraw it  

The Government’s plan to withdraw The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme from April, 2024 has come as a shocker to many an EV maker in the country. The scheme, launched in 2015 to promote the adoption of electric vehicles (EVs) in India, provided subsidies to manufacturers and buyers of EVs, and also offered incentives for the development of charging infrastructure. 

The government has cited two reasons for the withdrawal of the scheme. First, the government believes the scheme has met its objectives. The number of EVs on the road in India has increased significantly since the scheme came into being. The government believes the EV industry is now mature enough to survive without government support. 

Second, the government has cited the high cost of the FAME scheme as a reason for its withdrawal. The scheme has cost the government billions of rupees, and the government believes that this money could be better spent on other priorities. 

The subsidy under the FAME scheme for fiscal 2024 has been projected at Rs 5,172 crore as compared to the revised estimate of Rs 2,897 crore for the current fiscal year.* 

The scheme was a success. “The FAME scheme was a success, and had helped to increase the number of EVs on the roads in India,” said Mr Neeraj Manchanda, Founder and CEO, Zuge Electric, a multi-brand platform for EVs. 

The proposed move may prove a dampener for the sector, feel some of the EV makers. “The withdrawal of the FAME scheme is a setback for the Indian EV industry. The scheme provided the much-needed support to the industry, and its withdrawal will only make it more difficult for EV manufacturers to compete with makers of petrol and diesel engine powered vehicles,” said the founder of an EV firm, on condition of anonymity. 

The government still offers incentives for the purchase of EVs. For example, the government offers a tax rebate of up to Rs 1.5 lakhs on the purchase of an EV. 

An illustration of the cost-advantage of an EV 2-wheeler vis-à-vis. ICE 2-wheeler: 

However, Mr Neeraj Manchanda holds out a positive outlook about the future of EVs, both in India and in the global markets. He maintains that the Indian government still offers incentives for the purchase of EVs. For example, the substantial tax rebate of upto Rs 1.5 lakhs on the purchase of an EV is still on the table and augers well for the customer, if one looks through the prism of long-term savings on the EV as compared to a traditional petrol two-wheeler. 

About ZUGE Electric 

ZUGE Electric is India’s first multi-brand EV retail platform on the MetaVerse and Bangalore based. ZUGE has its sights firmly focused on the global EV makers, casting a wide net over critical EV ecosystem avenues and leveraging the new-age MetaVerse technology to expand reach and impact through gamifying e-commerce. ZUGE has the largest distribution network in India with over 4,500 physical dealerships and 12,000 virtual dealerships and is continuing to add to the network. 

The President of India Graces 2nd Convocation of Sri Sathya Sai University For Higher Education

* PARENTS AND THE EDUCATIONAL INSTITUTIONS SHOULD PROVIDE A HEALTHY ENVIRONMENT TO THE STUDENTS AND HELP THEM TO CHOOSE AND PURSUE A CAREER ACCORDING TO THEIR INTEREST: PRESIDENT MURMU

The President of India, Smt Droupadi Murmu graced the 2nd convocation of Sri Sathya Sai University for Human Excellence at Muddenahalli, Karnataka today (July 3, 2023).

Speaking on the occasion, the President was happy to note that Sri Sathya Sai University is providing higher education to all the students free of cost and helping students of economically weaker sections in pursuing higher education by providing free hostel facilities.

The President said that quality health services are a fundamental requirement for the progress of any society and country. She added that it is our collective responsibility to ensure affordable and reliable healthcare services to every citizen. She added that the world's largest health insurance scheme is benefiting many poor families. She was happy to note that Sri Sathya Sai University for Human Excellence has established Shri Madhusudan Sai Institute of Medical Sciences and Research in association with AIIMS, New Delhi and Banaras Hindu University, for providing free of cost medical facilities. She expressed confidence that this initiative would make further development in the areas of healthcare and medical education.

Sadguru, "On the special occasion of guru Purnima, my heartfelt wishes to all the students on graduating. I take pride in telling you that 66% of gold medallists today are girls. Aligned to our mission, we will continue to provide free education to students from lesser privileged background. We are extremely grateful to the Honourable President of India for gracing us with her presence on this momentous occasion.”

The President said that stress and mental health problems are on the rise among students due to increasing pressure for achieving academic excellence in this era of competition. She told students that success in examinations is not the only measure of their abilities. Their personality, conduct and character are more important than their academic achievements. She also urged parents and the educational institutions to provide a healthy environment to the students and help them to choose and pursue a career according to their interest.

Pointing to the fact that around 66 percent of students of this university are girls, the President said that today our daughters are contributing extensively in every sphere of life. This is a glimpse of the changes taking place in our country. She expressed confidence that by adopting modern values on the strong base of traditions, women can play a bigger role in the development of the country.

Drone Spotted Over PM Modi's Residence’ This Cculd Have Been Avoided Had Indrajaal™ Been Deployed For Drone Detection

Indrajaal™, India's drone game-changer in building a future-proof arsenal, is designed to detect and protect VVIP homes, public events, critical infrastructure, government buildings, military installations, and transportation infrastructure from all drone classes. The threat of drones to VIP homes primarily revolves around privacy invasion, security breaches, and potential risks to personal safety.

Commenting on the current potential attack threat, Kiran Raju, Founder & CEO of Grene Robotics said, “As a growing nation, we have been noticing increasing drone attacks, and the drone over PM Modi’s residence is a wake-up call. Today, the risk of not having the right drone security is much higher than anyone can anticipate. Anyways, what is the price to protect the life of a political leader?”

He further adds, “While the probe is being done, the question to ask is how many cameras can face the sky, and even when an intrusion is observed, how can that be countered? Is there a fool-proof investigative process in place to detect, track, and disrupt the flight of unmanned aerial vehicles (UAVs)? We might get the answers in due course of time but till then what are the countermeasures the law enforcement agencies are planning on?”

“It's crucial to strike a balance between protecting privacy and the legitimate use of drones for commercial purposes, public safety, and recreational activities. Continual advancements in drone technology and corresponding security measures are necessary to effectively mitigate the threats they pose to VIP homes.” He states.

Indrajaal™ design principle leverages a combination of 12 unique layers of technologies that are powered by artificial intelligence, cybersecurity, robotics, machine vision, and sensor fusion to identify, assess, decide, act, and evolve autonomously in real-time in response to a drone attack. It can integrate with all current weapons suites and infrastructure to cover a wide-area upto 4000 square kilometers per system, thereby eliminating the necessity of deploying multiple Counter-Unmanned Aircraft Systems (C-UASs).

It has the ability to defend against various low RCS threats, including medium-altitude and long high-altitude endurance (MALE & HALE), UAVs, loitering munition, smart bombs, rocket showers, nano and micro drones, swarm drones, and more.

Explaining how Indrajaal™ functions, Kiran adds when a drone is identified as a threat, Indrajaal™ assesses the level of threat it poses to defended assets within the area. These assessments, algorithmic in nature, are supported by a rapid analysis tool that utilizes data generated by the system. AI can also be employed to assist with data crunching and reveal patterns."

Here are some key points to consider:

1. Unauthorized Surveillance: Drones equipped with cameras can be used for intrusive surveillance, capturing images and videos of VIPs in their homes without their consent or knowledge. This can compromise their privacy and potentially expose sensitive information.

2. Security Vulnerabilities: Drones can be exploited by malicious individuals or groups to gather intelligence about VIP homes, including security systems, entry points, and vulnerabilities. This information could be used for planning criminal activities or targeting the VIPs themselves.

3. Physical Threats: In extreme cases, drones can pose a physical threat to VIPs and their homes. Certain types of drones can carry payloads such as explosives or weapons, potentially endangering the safety and security of the residents.

4. Trespassing and Intrusion: Drones can fly over private property, including VIP residences, breaching boundaries and invading personal space. This can lead to feelings of discomfort, violation, and a loss of privacy.

5. Reputation and Public Image: Privacy breaches involving VIP homes captured by drones can result in negative publicity and damage the reputation of the individuals involved. It can also lead to speculation, invasion of personal lives, and potential threats to their careers or public positions.

To address these threats, several countermeasures can be implemented:

1. Drone Detection Systems: Employing advanced technology such as radar, radio frequency detection, or visual recognition systems can help identify and track drones in the vicinity of VIP homes.

2. Anti-Drone Measures: Deploying anti-drone systems, including signal jamming, directed energy weapons, or net-based interception, can neutralize or disable unauthorized drones and prevent them from approaching the protected area.

3. Legal Regulations: Governments can enact or strengthen laws and regulations concerning drone usage near private properties. These regulations may include restrictions on flight altitudes, required permits for drone operation, and penalties for unauthorized surveillance.

4. Enhanced Security Measures: VIP homes should consider reinforcing physical security measures, such as installing high walls, anti-drone netting, or infrared sensors to detect and deter drones. Employing security personnel with expertise in drone detection and mitigation can also be beneficial.

5. Education and Awareness: VIPs and their security teams should receive training on the risks associated with drones, including privacy invasion and security breaches. They should stay informed about the latest drone technologies and countermeasures to take appropriate action.

6. Cooperation with Authorities: VIPs can collaborate with local law enforcement and relevant government agencies to establish protocols for drone-related incidents, ensuring a coordinated response to potential threats.

Indrajaal™ has been acknowledged by national and international private and defence agencies as a solution to counter the growing drone menace. 

Toyota Kirloskar Motor Creates ‘Wetland Ecosystem’ Within Its Plant Premises, Marking This Year’s 25th Environment Month Celebration

Toyota Kirloskar Motor (TKM), in line with its commitment towards preserving and regenerating the environment, marked its Silver Jubilee "Environment Month" celebration with a remarkable initiative. Aimed at enhancing the native biodiversity, TKM successfully created a new "Wetland Ecosystem" through plantation drive and restoration of existing natural pond at the Toyota Technical Training Institute (TTTI) Pond, located within its manufacturing facility in Bidadi region (Karnataka State).

The occasion was graced by esteemed dignitaries –Mr. T. Mahesh, Chief Environment Officer, Karnataka State Pollution Control Board and Mr. Eshwar Prasad, Secretary of Parisara, The Environmental Protection Organization (NGO), in the presence of Toyota Executives - Mr. B. Padmanabha, Associate Executive Vice President of Manufacturing and Mr. Sudeep S. Dalvi, Senior Vice President, Director & Chief Communication Officer. Over 120 participants took part in this important event including school children, teachers, Toyota suppliers, dealers & logistic partners, and other representatives from TKM.

This eco-initiative not only commemorated Toyota’s 25th Environment Month celebration, but also provided an opportunity for diverse stakeholders to deepen their understanding about wetland ecosystems and their pivotal role in promoting environmental sustainability. Wetlands are among the most productive ecosystems. They play a crucial role in maintaining the ecological balance by supporting diverse plant and animal species and helps in mitigating climate change through carbon sequestration. Wetlands store carbon within their plant communities and soil instead of releasing it to the atmosphere as carbon dioxide. Thus, wetlands help to moderate global climate conditions. Further, the unique valuable natural characteristics of wetlands helps to protect and improve water quality, providing fish and wildlife habitats, storing floodwaters, and maintaining surface water flow during dry periods. Under Toyota’s Global Environmental Challenge 2050’, one of the key focus elements is ‘Living in Harmony with Nature’ which largely constitutes afforestation. Towards this, over 2,550 saplings of varied species were planted.

TKM started its plantation journey way back in 2009 and has created a dense forest with more than 3,28,000 trees within its factory premises. The company has also adopted Miyawaki method of afforestation. and has successfully restored and reconstructed the forests based on the concept of “Potential Natural Vegetation”. This application has helped in creating a ‘Natural Forest’, within TKM’s manufacturing facility, by planting native species to create biodiversity and aid food chain and ecology. Thus far, TKM's plantation drives have continued to evolve and expanded to 112 acres of green cover within the factory premises, out of which 32 acres of afforestation has been developed using Miyawaki method. The resultant outcome has been truly remarkable. From a mere 181 plant species, the count has surged to an impressive 700, while the number of faunal species has risen from 76 to 264. The vibrant ecosystem now encompasses 88 bird varieties, 38 butterfly species, 107 insects, 17 reptiles, 8 mammals, and 6 amphibians, reflecting the successful development of a thriving native forest ecosystem.

Furthermore, TKM has created an experiential environmental learning centre ‘Ecozone’ (spread across 25 acres with 17 theme parks and home to 65,000 trees with 650 native species) for children, teachers, community members and other stakeholders, within its manufacturing facility aimed at creating the environment leaders and change champions for the future, to usher in desired behavioural change in the communities.

Speaking on the occasion, Mr. T. Mahesh, Chief Environment Officer of Karnataka State Pollution Control Board (KSPCB), said “KSPCB applauds Toyota Kirloskar Motor for their consistent commitment to environmental conservation. The creation of the ‘Wetland Ecosystem’ stands as a testament to their responsible corporate practices. We believe this initiative will inspire others to prioritize the conservation of natural resources and promote a greener and healthier environment. We at KSPCB also motivate industries to take up GreenCo certification as this would strengthen their processes to contribute towards environment conservation.  Together, we can create a legacy of environmental stewardship, ensuring a harmonious coexistence between nature and human progress. Also, Dr. Shanth A. Thimmaiah, Chairman of Karnataka State Pollution Control Board, conveyed his best wishes for Toyota’s future endeavours as well appreciated TKM’s green journey”.

Commenting on the celebration of Toyota’s 25th environment month, Mr. B. Padmanabha, Associate Executive Vice President – Manufacturing, Toyota Kirloskar Motor said “As we celebrate our 25th Environment Month, we firmly believe that our commitment to protect the environment goes beyond our products, including the manufacturing operations and the entire value chain. With the creation of the ‘Wetland Ecosystem’ at the Toyota Technical Training Institute, we have taken another significant step towards preserving and revitalizing our natural environment.

By connecting and engaging with various stakeholders including government, NGOs, educational institutes, employees, and communities, we strive to create a shared understanding and collective responsibility towards the environment. As we look ahead, we are excited to embark on continued sustainable initiatives to further strengthen our contributions and create a better place to live”.

As a part of this momentous event, an eco-exhibition was set-up namely ‘Hasiru Santhe’ where environment-friendly items were on display such as medicinal plants, homemade beauty products, utensils made up of clay, wooden toys, eco-friendly interior products, and alternatives to plastic, to create awareness and promote best eco practices.

TKM has implemented various distinctive eco initiatives to sensitise all its stakeholders on the importance of environmental sustainability during its environment month celebration. In this regard, recently, the company conducted a reforestation drive under its iCARE (I, Community Action to Reach Everyone) - an employee volunteering program in Ramanagara district (Karnataka) by engaging its employees (about 325 plus volunteers participated) who planted 250 saplings to enhance the greenery in the region.