IIMB’s NSRCEL And Goldman Sachs 10,000 Women Launch New Initiative To Help Women Entrepreneurs Raise Capital In India

* Innovative three-part educational initiative provides women entrepreneurs in India with an enhanced understanding of business finance and prepares them to raise capital  

NSRCEL?the incubation arm of IIM Bangalore (IIMB) and Goldman Sachs 10,000 Women today launched “Goldman Sachs 10,000 Women Finance for Growth,” a new initiative in India designed to equip women entrepreneurs with an enhanced understanding of business finance and provide mentoring and networking opportunities to accelerate their fundraising journey.   

This financial education initiative draws on findings from a study of over 2,400 Goldman Sachs 10,000 Women graduates across India. A majority of these women entrepreneurs highlighted the need for a deeper understanding of the available funding options and how best to access external capital to drive business growth. The study found that 40 percent of entrepreneurs used bank overdraft, 38 percent took business loans, and 33 percent sought capital from friends or family to address their business financing requirements.

Charlotte Keenan, Global head of Goldman Sachs 10,000 Women, said: “Goldman Sachs 10,000 Women graduates have positively impacted India’s economy by quadrupling their business revenue, doubling their workforce, and collectively creating 12,000 new jobs. Our new initiative aims to help these women make an even bigger impact, by providing the tools and resources needed to access capital - the biggest barrier they face to growing their businesses further.”

Talking about this unique initiative for women, Anand Sri Ganesh, COO, NSRCEL shared, “We are extremely happy to join hands with the Goldman Sachs 10,000 Women Finance for Growth initiative and bring it to NSRCEL. This underlines our commitment to supporting women entrepreneurs across the country by providing them with relevant education and mentorship to grow and scale their ventures. We hope our women alumni make the most of this opportunity to spot and nurture new opportunities in business, build and grow successful ventures and transform themselves.”

Goldman Sachs 10,000 Women Finance for Growth comprises three modules. Participants first take a basic finance module currently open for Goldman Sachs 10,000 Women graduates in India. Upon successful completion of the first module, a second advanced finance module will be made available for a select group of high potential women entrepreneurs. The final module will include bespoke mentoring from IIMB faculty members, finance industry experts, bankers, venture capitalists and angel investors, to provide practical learnings and advice tailored to the specific needs of each entrepreneur.   

The first cohort of the Goldman Sachs 10,000 Women Finance for Growth commenced on August 7, 2023.  

Tata Chemicals Ltd Consolidated Revenue From Operations For The Quarter Ended June 2023 Stood At Rs 4,218 Cr Up By 6%

Tata Chemicals Limited today declared its financial results for the quarter ended June 30, 2023.  On a consolidated basis, for the quarter, the revenue from operations stood at Rs 4,218 Cr, as compared to Rs 3,995 Cr in the corresponding quarter of last year. EBITDA on a consolidated basis, stood at Rs 1,043 Cr for the quarter, as compared to Rs 1,015 Cr in for the corresponding quarter of last year.  PAT from continuing operations on a consolidated basis, stood at Rs 578 Cr, for the quarter, as compared to Rs 641 Cr in for the corresponding quarter of last year. The Company’s performance reflects better realisations partly impacted by lower volumes.

For the quarter, on a standalone basis, the revenue stood at Rs 1,135 Cr, as compared to Rs 1,225 Cr in for the corresponding quarter of last year. PAT on a standalone basis stood at Rs 328 Cr, as compared to Rs 381 Cr for the corresponding quarter of last year.

As on 30 June 2023, consolidated gross debt dropped to Rs 5,873 Cr, as compared to Rs 6,296 Cr as on 31 March 2023. Also, as on 30 June 2023, cash & cash equivalents stood at Rs 1,544 Cr, as compared to Rs 2,398 Cr as on 31 March 2023.

Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said,

“The Company has delivered a satisfactory performance during Q1FY24 as compared to Q1FY23 despite a challenging environment.  The soda ash prices got adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from Inner Mongolia, China. This was further impacted by slower growth in Chinese economy post-COVID and softening of industrial production in developed economies and this may persist in the near term.  The Company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity. We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term. Our focus is to ensure that we maintain our market share through customer engagement and continued agile pricing, and to ensure steady contribution margins with focus on costs”. 

Consolidated Highlights Q1FY24

* Consolidated Revenue from operations stood at Rs 4,218 Cr, up 6%, as compared to Rs 3,995 Cr for corresponding quarter of last year

* Consolidated Profit After Tax from continuing operations (pre-MI) was Rs 578 Cr, down by 10% as compared to Rs 641 Cr for corresponding quarter of last year

* Company’s gross debt as on June 30, 2023 reduced to Rs 5,873 Cr

* Rallis India recorded consolidated revenues of Rs 782 Cr for the quarter ended 30 June 2023, a decrease of 9% as compared to Rs 863 Cr for corresponding quarter of last year.

Standalone Highlights Q4 FY23

*     Standalone Revenue from operations stood at Rs 1,135 Cr, down by 7%, as compared to Rs 1,225 Cr for corresponding quarter of last year

* Standalone Profit After Tax from continuing operations was Rs 328 Cr as compared to Rs 381 Cr for corresponding quarter of last year

About Tata Chemicals Ltd.

A part of the US$ 128 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to glass, detergent, industrial and chemical sectors. The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd. Tata Chemicals has world-class R&D facilities in Pune and Bangalore.

Toyota Technical Training Institute Transforming Lives And Creating Winners At Global Stage

In the era of rapid technological advancements and the increasing demand for skilled professionals, Toyota Technical Training Institute (TTTI) takes great pride in celebrating the convocation of passing out batch of students on 9th August 2023. TTTI, with its unwavering commitment to providing world-class skills training to aspiring individuals from rural Karnataka, addressing the industry's requirement for skilled manpower and preparing the youth for a promising future.

TTTI through its comprehensive and holistic training has made outstanding contribution to the government’s ‘Skill India’ mission and its efforts was acknowledged when one of its skill champions, Mr. Akhilesh Narasimhamurthy, a Mechatronics Bronze Medal Winner at the World Skill Contest 2022, had the opportunity to interact with the Hon’ble Prime Minister of India, Shri. Narendra Modi. This interaction took place during the celebration of the 3rd Anniversary of the National Education Policy program at Pragati Maidan, Delhi, on 29th & 30th July 2023 organized by the Ministry of Skill Development & Entrepreneurship. In addition, Mr. Akhilesh was also felicitated by the Government of Karnataka with a memento and cash prize for his achievements, inspiring students from challenging backgrounds to come out victorious and pursue their dreams.

Mr. Akhilesh, raised in a modest household, passed out from TTTI in 2017. He joined TKM as a team member in the Weld Maintenance division, dedicated several hours a day practicing and honing his skills that were imparted to him by TTTI. Akhilesh's commitment and interest in Mechatronics trade motivated him to participate in competitions and his efforts enabled him to win the second place in India Skills 2019 , first place in India Skills 2022 and later  win  the bronze medal for India in the World Skills Contest in 2022 in the Mechatronics competition held at Stuttgart, Germany. He is now following his passion and training students at TTTI, preparing them to win at national & international levels. Similarly other TTTI students like Mr. Likith Kumar Yemmoddi Prakash won bronze in Prototype modelling and Mr. Karthik Gowda Seehalli Nagaraju won bronze medal in Mechatronics in World Skills 2022.

Mr. G. Shankara, Senior Vice President & Chief Human Resource Officer, TKM & TKAP, expressing his thoughts, said, “At Toyota, we firmly believe that our role in India goes beyond manufacturing and promoting environment-friendly cars. We are committed to create more & more highly skilled and motivated individuals like Mr. Akhilesh, who is driven by hard work and passion to excel. For over a decade, TTTI has been spearheading the skilling efforts for students from economically challenged backgrounds, enhancing gender diversity, and enabling to create world class skilled technicians, thus making a difference to the surrounding communities, and contributing to ‘Skill India’. Till now over 950+ students have passed out since inception, and the success of the TTTI students gives us immense pride, as they advance in their skill sets, exceeding industry standards, contribute to the growth of the auto industry and bring more laurels for the state and the nation.”

With the upcoming convocation, TTTI will be celebrating the success of its full batch of students who will be felicitated in a grand ceremony. These students represent the potential of skilled youth in India, while their achievements resonate with the essence of the company’s commitment to fostering a talented and skilled workforce, contributing to the auto industry and  nation's progress.

On This Independence Day, Tata Tea Premium Pays Homage To India’s Rich & Vibrant Handloom Legacy This With Its ‘Desh Ke

Highlights:

• Releases a limited-edition pack collection inspired by some of the iconic handloom weaves of India

·   Celebrates Independence Day with a musical TVC narrating the story of Handlooms, sung by icon Usha Uthup, who is herself known as a connoisseur and collector of Indian Handlooms

• Tata Tea Premium collaborates with Okhai to promote and showcase the skills of Indian weavers

Tata Tea Premium, the flagship brand from Tata Tea’s diverse portfolio, has been celebrating India and its elements of pride reflective in its art, culture, and heritage for Independence Day through its #DeshKaGarv initiative. While last year it celebrated key moments of pride from India’s 75 years of post-Independence journey, this Independence Day Tata Tea Premium plans to take the nation on a colorful joy-ride of pride and glory with its Desh Ke Dhaage campaign, celebrating India’s rich legacy of Handlooms.

The rich and cultural artistic heritage of India reflects across many diverse arts, crafts, and music traditions. This diverse heritage is perhaps most vividly and visibly captured in the handlooms of India. And over time, it has woven itself intricately into the cultural fabric of India, becoming an integral part of India’s heritage.

Therefore, on the eve of Independence Day, Tata Tea Premium – Desh Ki Chai pays homage to this diverse & unique artform through a limited-edition pack collection inspired by the handlooms of India.

Each pack serves as a resplendent canvas, bringing alive the incredible artistry of Indian craftsmen and their timeless creations. From the grandeur of Banarasi Silk in Uttar Pradesh to the intricate Kanjeevaram from Tamil Nadu, from the illustrious Muga Silk of Assam to the exquisite Paithani of Maharashtra, each handloom spins a yarn of immense cultural pride.

The story of these packs have been knitted together in a heartwarming TVC conceptualized by Mullen Lintas that celebrates India's vibrant handloom legacy. Sung by celebrated singer Usha Uthup, who is herself a connoisseur of Indian Handlooms, the film spreads smiles and warmth as it traverses the country, showcasing the diversity of India’s handlooms and thus tying India together into a beautiful sentiment of national pride. Each frame brims with love and respect, paying homage to the craftsmanship of skilled weavers who have intricately crafted our cultural identity. From the opulent Banarasi Silk of Uttar Pradesh to the soulful Phulkari of Punjab, the film weaves a story that not only communicates but also commemorates each of these handlooms from across India. The heartfelt message at the film's conclusion calls on every heart to honor the threads that weave our nation's glory.

As a part of the same campaign, a specially curated collection made by weavers from across the country is available on OKHAI for purchase. Consumers can purchase these weaves at www.OKHAI.org. Further, Tata Tea Premium will contribute a percentage of what consumers spend on this collection for the welfare of the artisan community.

Commenting on the initiative, Puneet Das, President - Packaged Beverages (India and South Asia), Tata Consumer Products, said, “As we embark on this remarkable journey on the eve of Independence Day with the 'Desh Ka Garv' initiative, Tata Tea Premium celebrates the collective pride of our nation’s talented craftsmen, paying homage to their dedication, craftsmanship and their irreplaceable contribution to our cultural heritage. Through our heartwarming campaign, we hope to inspire every Indian to embrace and celebrate the legacy of our diverse regional handlooms, cherishing the threads that weave our nation's pride. Each sip of Tata Tea Premium brings not just the taste of excellence but also the essence of 'Desh ki Chai', a cup that knits all of us together in a tapestry of love, unity, and pride.”

Arnab Chatterjee, co-founder of Tree Design said, “While Tata Tea Premium celebrates the spirit of India every year with its Desh Ka Garv initiative, the brief this year was to make the thought even grander by tying it with an element that is unique to India’s heritage. Thus, this year, we decided to dive into India’s rich and vibrant handloom weaving culture. Dating back hundreds of years, the amazing thing is the variety available across the country and the talent which continues to practice handloom weaving and keeping the artform alive and thriving. In collaboration with the Tata Tea Premium team, we carefully selected and partnered with eleven weavers across the country, resulting in a stunning limited edition pack collection, representative of the handloom culture of India across the North, East, West and Southern states of India.”

Commenting on the campaign, Hari Krishnan, CEO of Mullen Lintas says, “It was exciting to work on something so unique. You rarely see a brand redoing their packaging as a tribute to an art form. The brief was simple, to celebrate India’s one of the most unique artforms of handlooms, through handloom-inspired limited-edition packs on Independence Day. The idea was right there, if you look at it, these threads are what form the fabric of the nation, they portray unique stories from across India through motifs embroidered on to their weaves. The way the film portrays these unique stories and inspiration behind each of these fabrics, through a mix of eye-catching animation and playful sing-song narration, makes for a delightful watch, while landing the communication in an effective manner.”

Tata Simply Better Introduces A Premium Range Of 100% Pure & Unrefined Cold Pressed Oils To Elevate Everyday Cooking

Tata Consumer Products (TCP), the consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella, today announced its entry into the premium and rapidly growing category of Cold Pressed Oils.  Tata Consumer Products is launching a range of 100% pure and unrefined cold pressed oils under its brand ‘Tata Simply Better’

The Tata Simply Better Cold Pressed Oils collection features four flavoursome variants, each carefully crafted to offer excellent quality and taste:

Virgin Cold Pressed Coconut Oil

Cold Pressed Groundnut Oil

Cold Pressed Mustard Oil

Cold Pressed Sesame (Gingelly) Oil

Cold pressed oils have gained immense popularity due to their numerous health benefits and distinctive flavour profiles. Tata Simply Better Cold Pressed Oils are meticulously extracted using    the Cold Pressed technology, which mirrors traditional methods of oil extraction to ensure the preservation of vital nutrients, rich aroma, and authentic flavour. This distinct method yields edible oils that are suitable for everyday cooking.

"We are thrilled to introduce Tata Simply Better Cold Pressed Oils, a step towards transforming the way consumers approach their cooking habits," said Deepika Bhan, President, Packaged Foods- India, Tata Consumer Products. "By entering this category, we are aiming to redefine the norms and create a positive impact on the choices consumers make for their well-being. We understand the growing demand for nourishing alternatives and aim to provide an exceptional range of edible oils that not only helps promote overall well-being but also enhance the taste of your everyday meals. Tata Simply Better Cold Pressed Oils embody our promise of quality and purity, making them an essential addition to every household. This strategic launch not only reinforces Tata Consumer Products' position as a leading F&B company but also strengthens our portfolio by offering consumers nourishing options that they can trust and rely on."

Tata Simply Better Cold Pressed Oils are derived from A1 Grade Ingredients, carefully selected to ensure the premium quality and consistency.

Tata Simply Better forayed into the plant-based category with the launch of its plant-based protein products last year. This move has solidified Tata Consumer Products' commitment to providing high-quality products in line with consumer preferences. The launch of Tata Simply Better Cold Pressed Oils represents another milestone for Tata Consumer Products, further strengthening its promise of delivering “For Better” products that cater to the evolving needs of consumers.

The Tata Simply Better Cold Pressed Oils, made from 100% pure and unrefined ingredients, can be conveniently purchased from all major online marketplaces and the official Tata Simply Better website. These oils are competitively priced, with a range spanning from Rs. 325 to Rs. 699. 

For more information, visit: www.tatasimplybetter.com

About Tata Consumer Products Limited:

Tata Consumer Products Limited is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The Company’s portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals. Tata Consumer Products is the 2nd largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+ and Tata Gluco+. Its foods portfolio includes brands such as Tata Salt, Tata Sampann and Tata Soulfull.  In India, Tata Consumer Products has a reach of over 201 million households, giving it an unparalleled ability to leverage the Tata brand in consumer products. The Company has a consolidated annual turnover of ~Rs. 13,783 Crs with operations in India and International markets. 

For more information, visit https://www.tataconsumer.com/  

Union Education Minister Pradhan Announces To Establish Incubation Centre At IIM Sambalpur

Union Education Minister Dharmendra Pradhan suggested that IIM Sambalpur should help in the skill development of weavers, capacity building of farmers in the rural-based economy and capacity building of Panchayat Raj institutions. Shri Pradhan made a special announcement that an incubation centre for local young entrepreneurs will soon be set up at IIM Sambalpur. He also spoke about the significance of Sambalpur as the cultural hub of Odisha and envisioned IIM Sambalpur's pivotal role in transforming the region into an intellectual hub.  Union Education Minister further said that with prestigious establishments & institutions like Hirakud Dam, Sambalpur University, VIMSAR Medical College, VSSUT Engineering University and Gangadhar Meher University in the vicinity, the establishment of IIM Sambalpur is poised to further enhance the area's educational landscape.

Organized by the IIM Sambalpur, Union Education Minister was the Chief Guest at the Plantation Drive and Campus Tour. Shri Pradhan underlined IIM Sambalpur's pivotal role towards sustainable practices and environmental preservation.

On the occasion, Prof. Mahadeo Jaiswal, Director, IIM Sambalpur expressed his heartfelt gratitude to Union Education Minister for gracing the event and inspiring the students with his motivating words. He said that Shri Pradhan appreciated the modern classrooms introduced by IIM Sambalpur, which offer real-time information on the subjects to the students remotely located while the professor is writing on the board.

The day commenced with an early morning Plantation Drive where Shri Dharmendra Pradhan, along with Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, led the initiative of planting of saplings by more than 500 students of IIM Sambalpur and nearby schools on the sprawling campus. Following the Plantation Drive, the union education minister participated in the Campus Tour and interacted with the faculty member and students of the premier B-School. The tour provided valuable insights into the institute's state-of-the-art infrastructure, academic facilities, and research centres.

The event garnered active participation from faculty members, staff, students, and representatives from various schools in the region.

About IIM Sambalpur:

Welcome to Indian Institute Of Management SambalpurIIM Sambalpur is one of the premier management institutions in the country and is widely known for its quality education. Located in Sambalpur, Odisha, the institute is committed to providing excellent management education, harbouring a sense of entrepreneurship, and developing socially responsible leaders.  IIM Sambalpur is known for its 2-year flagship MBA programme and admissions are held via CAT along with 8 other IIMs. IIM Sambalpur cut-off is 92 percentile. IIM Sambalpur MBA fee is INR 13.04 Lakh, whereas IIM Sambalpur's average package stood at INR 16.64 LPA and IIM Sambalpur's highest package stood at INR 64.61 LPA for the 2023 batch.

RBL Bank Marks 80th Foundation Day With ‘Project Khwaish’ – An Initiative To Support Underprivileged Girls Fighting Cancer

On its 80th Foundation Day, RBL Bank, one of India’s leading private sector banks – proudly unveiled ‘Project Khwaish,’ an earnest social initiative dedicated to providing cancer treatment and care for underprivileged girl-children. In partnership with Tata Memorial Hospital, this noble project is aiming to benefit 80 girl-children with comprehensive cancer care support valued at a total cost of Rs. 3.20 crore.

With the first phase inaugurated at Tata Memorial Hospital located in Mumbai and Varanasi, girl-children from all states of the northern, western and eastern regions can avail of this treatment.  Subsequent phases are scheduled to be launched in association with Adyar Cancer Institute in Chennai, where it will support girl-children from all southern states of India and Narayana Hrudayalaya Charitable Trust located in Bengaluru, Delhi and Kolkata, which will provide treatment to Jammu & Kashmir, Delhi, southern and eastern India.

According to a study conducted by the National Cancer Institute in July 2021, out of 50,000 children diagnosed with cancer, only 15,000 opt for treatment. From the remainder, the number of girl-children being denied treatment is on the higher side, indicating a traditional bias against the girl-child. If childhood cancer is detected early, the recovery rate can be as high as 85%. Project Khwaish aims to bring about a positive and transformative impact with a primary focus on providing essential medical care and support throughout their cancer treatment journey.

R Subramaniakumar, MD & CEO, RBL Bank, said, “The 80thFoundation Day is a momentous occasion and we are incredibly proud to launch ‘Project Khwaish’, a heartfelt initiative dedicated to delivering cancer treatment and care to underprivileged girl-children. At the heart of this endeavour lies our firm belief that every child deserves access to top-notch healthcare. Through this small step, we reaffirm our commitment to fulfilling this noble cause. With 'Project Khwaish,' we aim nurture a promising and healthier future for the children”

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 & Treasury and Financial Markets Operations. It currently services more than 12 million customers through a network of 516 branches; 1,168 business correspondent branches (of which 298 are banking outlets) and 413 ATMs (total customer touchpoints: 2,097) spread across 28 Indian states and Union Territories

RBL Bank is listed on both NSE and BSE (RBLBANK).