State Bank of India (SBI) Removes Religare Finvest Limited’s (RFL) 'Fraud' Tag

In a significant development, the State Bank of India (SBI), one of the lenders of Religare Finvest Limited (RFL), has removed RFL’s record, reported by it as fraud, from the Central Fraud Registry database. This decision follows an Order dated December 18, 2023 from the Honourable Delhi High Court directing SBI to remove the fraud tag. SBI informed RFL today through a formal communication.

In March 2023, RFL, a wholly owned subsidiary of Religare Enterprises Limited (REL), achieved a key milestone when it completed a One-Time Settlement (OTS) with 16 lenders through organic collections. The Company paid more than Rs 9000 crores to the country's banking system. Currently, RFL is awaiting the lifting of the Corrective Action Plan (CAP) imposed on RFL by the Reserve Bank of India (RBI) in January 2018.

Commenting on the development, Dr Rashmi Saluja, Executive Chairperson, REL & CMD RFL said, “We are pleased to witness the positive outcome of our efforts. The removal of the 'fraud' tag stands as a testament to the commitment and dedication of the Company’s Board, management and employees in resurrecting RFL and the Group from the brink in the aftermath of fraud perpetrated by the erstwhile promoters and their affiliates and putting it on the path of growth and development. This is pivotal step in the revival of RFL.”

Mr Pankaj Sharma, Chief Executive Officer, RFL said, “The announcement holds great significance for the Company, as it will open doors for our strategic path towards achieving growth. RFL eagerly awaits the much anticipated removal of the RBI Corrective Action Plan (CAP) that was put into effect in January 2018.”

The Central Fraud Registry, established under the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions, 2016, is a web-based and searchable database on frauds reported by commercial banks and select financial institutions in terms of Master Directions on classification and reporting of frauds.

About Religare Enterprises Limited:

Religare Enterprises Limited (REL), a Core Investment Company (CIC) registered with the Reserve Bank of India (RBI), is a diversified financial services company. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL is listed on the BSE (Bombay Stock Exchange) and National Stock Exchange (NSE) in India. The Religare Group (REL & subsidiaries) reaches over 1 million policyholders in the insurance business, 1 million plus broking customers, more than 26,000 customers in MSME finance and over 10,000 customers in affordable housing finance. The Group employs more than 11,000 professionals servicing this diversified customer base with a presence in over 1,000 locations across India.

Agratas Partners With Tata Technologies To Fast-Track Development Of Best-In-Class Battery Solutions For Mobility And Energy Sector

·         The collaboration with Tata Technologies will enable Agratas to accelerate product development, including the design and integration of battery cells into modules and packs for global customers in the mobility and energy sectors.

·         Tata Technologies will develop digital business architectures to support the production of best-in-class battery solutions at Agratas’ gigafactories in India and the UK.

·         Through this collaboration, Tata Technologies will expand its upstream capabilities, strengthening its end-to-end Electric Vehicle design and development capabilities.

Agratas, Tata Group’s global battery business, and Tata Technologies, a global product engineering and digital services company, have announced their collaboration to scale Agratas’ product development and enterprise systems, supporting the design, development and manufacturing of best-in-class battery solutions.

Leveraging Tata Technologies’ over 25 years of expertise in product development, digital engineering, digital manufacturing and product supply chain, Agratas will accelerate its product development timelines, including integrating battery cells into modules and packs across multiple applications to match customer requirements.

The two companies are maximising Tata Group’s comprehensive #OneTata approach, with Tata Technologies also developing the digital business architectures to support the production of best-in-class battery solutions at Agratas’ gigafactories in India and the UK. This new alliance embodies the cross-Tata Group mission to develop a holistic eMobility ecosystem that will advance the production and adoption of Electric Vehicles in India and worldwide. With battery cell production due to commence in 2026, the collaboration is helping to propel Agratas’ anchor customers, Tata Motors and JLR, towards a fully electrified future.

Commenting on the collaboration, Tom Flack, CEO, Agratas, said: “We are fully committed towards delivering best-in-class battery solutions to our customers and helping to supercharge the global transition to electric mobility and clean energy storage. Teaming up with Tata Technologies strengthens our pursuit of this mission, helping us to leverage its expertise in Electric Vehicle engineering, including competitive design, packaging and integration of battery packs that are critical for the performance of our customers’ products, from next generation Electric Vehicles to energy-dense storage solutions. Our collaboration with Tata Technologies also maximises inter-Group synergies and business excellence, showcasing the strategic benefits of being part of the Tata Group.”

Reinforcing the collaboration with Agratas, Warren Harris, CEO & Managing Director, Tata Technologies, said: “Tata Technologies’ vision of engineering a better world embodies a commitment to innovating sustainable solutions across the eMobility value chain that helps manufacturing companies accelerate their transition towards net zero. The trust awarded by Agratas reaffirms our long-standing expertise in Electric Vehicle engineering and digital transformation solutions for sustainable products. We believe this collaboration will help us strengthen our capabilities around the design and integration of battery pack solutions into battery electric vehicles and also help Agratas accelerate the industrialisation of its gigafactories in the UK and India, enabling it to deliver competitive battery solutions to its customers.”

As Agratas scales up its operations, Tata Technologies is also helping Agratas to mobilise resources by facilitating recruitment of highly skilled individuals, enabling onboarding and supporting employee lifecycle activities during this critical growth phase. These resources span roles across the battery solution value chain, including corporate, operational and research functions, reaffirming the depth and breadth of the collaborative engagement.

Belenus Champions Pioneers Comprehensive Fertility Care With Launch Of "Fertility & Andrology Clinic" In Collaboration With Milann

Belenus Champions Hospital proudly announces the inauguration of its cutting-edge "Fertility & Andrology Clinic," a collaborative initiative with Milann - Fertility Specialists. This marks a significant step towards providing holistic fertility care for both males and females under one roof.

The launch event was graced by distinguished guests, including Ms. Anjali Ajaikumar, Director at Milann and Executive Director at HCG; Dr. Nanda Rajneesh, Founder and Chairman of the Society for Prevention; Ms. Pushpa Manjunath BM, Ex-Corporator, BBMP Varthur Ward; Dr. Manjunath, Founder of Belenus Champions Hospital; Dr. Kishore, Co-Founder of Belenus Champions Hospital; Dr. Pratik, Urologist & Andrologist; Dr. Karthika, Obstetrician & Gynecologist; and Dr. Shashidhar, COO of Belenus Champions Hospital.

Ms. Anjali Ajaikumar, Director at Milann and Executive Director at HCG, expressed her enthusiasm, stating, "The collaboration between Belenus Champions Hospital and Milann is a strategic step towards offering comprehensive fertility solutions. Our combined expertise will provide a supportive environment for couples seeking fertility care."

Dr. Nanda Rajneesh, Founder and Chairman of the Society for Cancer Prevention, highlighted the importance of accessible fertility care, stating, "The Fertility & Andrology Clinic is a commendable initiative that addresses a critical need in our society. It ensures that individuals and couples have access to specialized care for their unique fertility concerns."

Ms. Pushpa Manjunath BM, Ex-Corporator, BBMP Varthur Ward, emphasized the significance of localized healthcare solutions, saying, "The Fertility & Andrology Clinic at Belenus Champions Hospital is a positive step towards bringing advanced fertility care closer to the community. It aligns with the hospital's commitment to serving the local population."

Dr. Manjunath, Founder of Belenus Champions Hospital, expressed his pride in extending the hospital's services, stating, "The Fertility & Andrology Clinic is a testament to our commitment to providing comprehensive healthcare. We are proud to collaborate with Milann to offer specialized fertility care for our community."

Dr. Kishore, Co-Founder of Belenus Champions Hospital, stated, "The Fertility & Andrology Clinic represents a new era in fertility care. Our collaboration with Milann combines expertise to deliver personalized and advanced solutions for couples on their fertility journey."

Dr. Pratik, Urologist & Andrologist, and Dr. Karthika, Obstetrician & Gynecologist, shared their excitement about the clinic's potential to address diverse fertility challenges faced by both males and females.

Dr. Shashidhar, COO of Belenus Champions Hospital, concluded, "The launch of the Fertility & Andrology Clinic reflects our commitment to providing comprehensive and compassionate healthcare. Together with Milann, we aim to offer a ray of hope to those seeking fertility solutions."

The Fertility & Andrology Clinic at Belenus Champions Hospital is now open to serve individuals and couples seeking fertility care. For appointments and inquiries, contact 080 6936 6936

In A first, Tennis Legend Roger Federer Meets Olympic Gold Medalist Neeraj Chopra In Zurich

When Swiss tennis legend Roger Federer meets Indian Olympic Gold medalist Neeraj Chopra in Zurich, the world sits up and takes notice. After all, not often do you see two dedicated, charming, and passionate sportspersons who’ve done their respective countries proud, occupy the same space!

Switzerland Tourism, however, has set the ball rolling by uniting these two great icons who belong to different worlds of sport — Tennis and Javelin Throw — at Zurich’s La Réserve Eden au Lac for a casual and free-flowing conversation.

The rendezvous was marked by mutual respect, admiration, and shared stories of triumph and dedication between the two stars. Federer, known for his longevity and prowess on and off the tennis court, warmly welcomed Neeraj who is also Switzerland Tourism’s Friendship Ambassador, to his home country.

“It’s a dream come true for me to meet Roger Federer here in Zurich. I have always admired his skill, his spirit of true sportsmanship and his ability to inspire millions around the world. Today, however, what inspired me the most was his humility and his easy-going charm that made me feel so comfortable in his presence. We had a wonderful time exchanging notes about our respective passions and life’s experiences on and off the field,” said Neeraj Chopra.

Roger Federer was equally excited meeting Neeraj and shared, “I am amazed by how much Neeraj has achieved personally and for his country through his grit and determination. It’s been great to meet him here in Zurich.”

Other than sharing a great love for sports, they also share a common love for Switzerland! Roger Federer is the global ambassador for Switzerland Tourism and Neeraj Chopra is the board’s Friendship Ambassador from India.

Organized by the Switzerland Tourism Board, this historic meeting between Roger Federer and Neeraj Chopra served as a reminder of the power of sport to bring people together, transcending borders, cultures, and disciplines. The same power applies to tourism.

“We are so happy that we could organize a meeting between these two great sports icons who are both our brand ambassadors as tourism also brings people together by fostering cultural exchange and widening our horizons with diverse experiences which enrich our lives”, Ritu Sharma, Deputy Director, and Marketing Head – India, added.

LG's Announces QNED 83 Series; Raises The Bar For LED TV In Bangalore

LG Electronics, India’s leading Consumer Durable brand today announced the launch of its LG QNED (Quantum NanoCell Display) 83 series, the next generation evolution of LED in Bangalore. Setting a new standard for visual excellence and immersive entertainment, LG Electronics is committed to providing a holistic viewing experience through the LG QNED 83 series.

The launch took place at Croma Store, JP Nagar, Bangalore, and featured the unveiling of the QNED model, specifically the 55 QNED 83. The main attendees include Mr Manoj Mohandas (Regional Business Head, Karnataka, LG Electronics), Mr. Anand S (Store Manager, Croma, JP Nagar), Mr. Aditya (HR Head - South, Croma) and Mr. Roshan Mampilly (ZISM, LG Electronics).

The QNED 83 Series showcases the combined power of Quantum Dot and NanoCell technologies with 120hz refresh rate, offering viewers a visual experience that sets new standards in realism and clarity. With a comprehensive set of features including Dolby Vision & Atmos, AI Super Upscaling, Local Dimming, and advanced gaming capabilities, the QNED 83 Series is set to redefine the home entertainment experience.

Commenting on the launch, Mr Manoj Mohandas, Regional Business Head, Karnataka, LG Electronics said, “We are thrilled to introduce the QNED 83 TVs in Bangalore, fostering a commitment to excellence and innovation. Harnessing the fusion of Quantum Dot and NanoCell technologies, complemented by a 120Hz refresh rate, our TVs establish a groundbreaking standard for visual excellence. Enhanced by the power of Dolby Vision and Atmos, these televisions elevate the cinematic experience, breathing life into every on-screen moment with unparalleled clarity and immersive sound.”

Key Features of QNED 83 Series:

·       Quantum Dot & NanoCell Fusion:

The QNED 83 Series boasts the combined power of Quantum Dot and NanoCell technologies, ensuring richer and more accurate colors in stunning 4K resolution.

·       Powerful Processor | ?7 Gen6 AI 4K:

The ?7 AI Processor 4K Gen6 takes center stage, delivering a dynamic viewing experience tailored to individual preferences. It puts the "Pro" in processor, ensuring a seamless and responsive performance.

·       Dolby Vision & Atmos:

Experience an outstanding cinematic journey with support for Dolby Vision & Atmos. The QNED 83 Series brings content to life with stunning visuals and immersive audio, creating a truly cinematic experience in the comfort of your home.

·       Local Dimming:

Smart dimming technology with deep-learning algorithms minimizes the halo effect, creating sharper and more natural images. The QNED 83 Series ensures a superior visual experience with its innovative local dimming feature.

·       AI Picture Pro & AI Sound Pro:

The new ?7 Gen6 AI processor has been optimized to provide an even better picture and sound experience, offering wider surround sound with Virtual 5.1.2 channels for an immersive audio experience.

·       Immersive Gaming and 120Hz refresh rate:

Elevate your gaming experience with features like Game Dashboard & Optimizer, AMD FreeSync, VRR, and a 120Hz refresh rate. The QNED 83 Series ensures fast, smooth gameplay, allowing users to truly immerse themselves in the gaming world.

·       Advanced webOS:

Enjoy a personalized, quick, and easy smart experience with the all-new webOS. Access a variety of content from popular streaming services like Netflix, Apple TV+, Disney+ Hotstar, and Prime Video effortlessly.

·       Multi-View:

Transform your viewing experience with Multi-View, allowing screens from two different sources to be displayed simultaneously in side-by-side, picture-in-picture, or double input modes.

·       Variety Content:

Access a wide range of content from popular streaming services like Netflix, Apple TV+, Disney+ Hotstar, and Prime Video, ensuring entertainment for every viewer's interest.

·       Personalized Features:

 Benefit from features such as Quick Cards, Picture Wizard, User Profiles, ThinQ AI, and compatibility with voice assistants like Google Assistant, Amazon Alexa, and Apple Airplay2.

The QNED83 Series is more than just a TV; it's a gateway to a world of unparalleled entertainment. LG continues to push the boundaries of innovation, offering a television that redefines the home entertainment experience.

About LG Electronics India Pvt Ltd               

LG Electronics India Pvt. Ltd. (LG Electronics), a wholly owned subsidiary of LG Electronics Inc, South Korea was established in January 1997 in India. It is one of the most formidable brands in consumer electronics - Home Entertainment, home appliances*, HVAC, IT hardware. In India, LG Electronics has earned a premium brand positioning and is an acknowledged trendsetter in the industry.  LGEIL's manufacturing unit at Greater Noida is one of the most eco-friendly units among all LG manufacturing plants in the world. The second Greenfield facility is located at Ranjangaon; Pune which manufacture LED TVs, air conditioners, commercial air conditioning systems, washing machines, refrigerators, and monitors.

*Home Appliances include- Refrigerator, Washing Machine, AC, Water purifier, Microwave, Fan, Dishwasher & Air purifier.

Introduce Additional Measures That Can Aid Credit Growth, Financial Inclusion And Digital Enablement Of Financial Services

Pre-budget expectations from Nalin Negi, Chief Financial Officer & Interim CEO, BharatPe

“As India sets sight on becoming a US$ 5 trillion economy by 2025, the upcoming Interim Budget offers a timely opportunity to formulate policies that further unlock the potential of fintechs in enabling financial inclusion and powering their growth. I am hopeful that the government will announce measures to increase capital availability for fintechs operating in underserved domains like rural credit, digital payments, and digital lending. Regulations around digital banking, data governance and emerging technologies have fueled the building of sustainable fintech businesses over the last year or so, and I am hoping that the budget will introduce additional measures that can aid credit growth, financial inclusion and digital enablement of financial services. 

It would also be good to see tax benefits and favourable initiatives for research, product innovation and skill development being introduced, so as to encourage indigenization that can help India emerge as the global innovation hub.  Additionally, in order to nurture the blooming startup ecosystem, the Government should further broaden the eligibility criteria and look at providing tax reliefs to employees in start-ups around Employee Stock Ownership (ESOPs). I am optimistic that this budget will set the stage for enhanced collaboration between fintech innovators and policy makers to nurture an ecosystem that can equitably power India's digital economic aspirations.”

Bajaj Allianz Life’s plank-Led Fitness Initiative Celebrates ISRO’s Grand Feats, This 75th Republic Day

Bajaj Allianz Life, one of the leading private life insurance companies, proudly unveils Plankathon 2024, the fourth edition of its unique fitness initiative. This edition themed as #PlankForAces, is exceptional as it seeks to express gratitude towards the Indian Space Research Organisation (ISRO) – the true aces who propelled India to the moon and, more recently, achieved success with the Solar Mission, Aditya L1. The initiative is impeccably timed to coincide with the celebration of India's 75th Republic Day and will culminate in an on-ground event in Bangalore’s Sri Kanteerava Outdoor Stadium on 11th February, 2024.

Through the countdown to the on-ground event, this unique challenge encourages individuals to share their planking videos with the #PlankForAces, creating a collective gesture of gratitude for ISRO's stellar contributions to space exploration.

Chandramohan Mehra, Chief Marketing Officer, Bajaj Allianz Life, said, "A high engaging fitness drive at the core, the plank initiative in its 4th edition, continues to be anchored on platforms that strike a chord with larger cohort. The new edition of the Plank campaign celebrates ISRO’s accomplishments which also align with India’s unmatched rise in tech, economic and geopolitical power. We are confident that #PlankForAces will generate massive participation as it has always done".

The Bajaj Allianz Life Plankathon goes beyond individual health and fitness benefits to contribute to larger societal causes since 2018. The first edition, #36SecPlankChallenge, was linked to curing heart disorders amongst economically disadvantaged kids in collaboration with Hrudaya Foundation. The second edition, #PlankForIndia, supported the young Indian Olympians in association with OGQ. The third edition #PlankToThank aimed to express gratitude towards the Indian Armed Forces and mark India’s 75th Independence Day in style and provided for livelihood for retired jawans.

Join the fourth edition, #PlankForACES 2024 and commit to champion the cause of fitness, and salute the real ACES of ISRO.

Watch the video here: https://www.youtube.com/watch?v=jQxG6IW58QI&t=7s

To participate:

·         Record your 10 seconds plank video

·         Upload on https://lnkd.in/dYQay2bM

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institutions and Allianz SE, one of the world’s leading asset manager and insurer. The Company commenced its journey in 2001, and today delivers its promise of Life. Goals. DONE through innovative value-packed insurance products that are backed by a robust tech and digital ecosystem. Bajaj Allianz Life Insurance continues its journey of transformation through its products and tech-enabled state-of-the-art services to enhance customer delight.

Bajaj Allianz Life now serves over 4.38 crore (as on 30th November, 2023) individual and group customers. The Company has a large distribution network of 510 branches (as on 30th November, 2023), over 1,40,562 agents (as on 30th November, 2023) a comprehensive set of trusted partners, and its proprietary sales channels (online and offline). Bajaj Allianz Life Insurance has an Individual Claim Settlement Ratio of 99.04% and a Solvency Ratio of 516% (as on 31st March 2023).