Dvara KGFS Secures $27 Million In Debt Financing To Strengthen Financial Inclusion Efforts In Rural India

Dvara KGFS, a leading rural fintech, dedicated to fostering financial inclusion in deep rural villages across India, has successfully raised $27 million in debt funds. This financial boost will play a crucial role in augmenting the company's liquidity and accelerating its growth plans. Additionally, Dvara KGFS recently achieved a significant milestone, crossing the INR 2000 crore mark in Assets Under Management (AUM). This milestone underscores the company's strong performance and commitment to providing comprehensive financial services to underserved rural communities.

Speaking about the funding, Mr. LVLN Murty, Managing Director and CEO, Dvara KGFS, said, "Dvara KGFS, being a rural fintech, aims to provide holistic financial services to its customers, empowering them to enhance their financial well-being and lifetime value. The funds raised will enable us to expand our reach and impact, driving financial inclusion in rural India."

The company secured $20 million in the form of External Commercial Borrowings (ECB) from NEDERLANDSE FINANCIERINGS-MAATSCHAPPIJ VOOR ONTWIKKELINGSLANDEN N.V (FMO), a Dutch entrepreneurial development bank committed to creating development impact and $7 million was raised from ENABLING QAPITAL Luxembourg SA, a leading Impact Investment Advisory Company dedicated to achieving financial and social returns. This funding from large global impact investors is a testament to the impact that Dvara KGFS is creating in the financial inclusion space in India and will open more avenues for global partnerships.

Commenting on the same, Ms. Shilpa Bhatter, CFO, Dvara KGFS, added, "This fundraising not only diversifies our lender profile but also strengthens our presence in the foreign debt market, unlocking access to lower-cost debt and ensuring a sustainable growth path for Dvara KGFS."

The company aims to utilize the proceeds of the ECBs towards its onward lending program, focusing on supporting microfinance and microbusiness loans for customers in regions with limited access to formal credit channels. This initiative further fortifies the company's mission to extend comprehensive financial services to underserved rural communities.

Utilizing an omnichannel approach, Dvara KGFS provides an array of loans and third-party products tailored to meet its customers' diverse financial needs. The company remains steadfast in its commitment to bridging the financial gap and empowering individuals and communities through financial services. With the success of this fundraise, Dvara KGFS is positioned to significantly enhance its impact on the lives of underserved individuals in rural India.

About Dvara KGFS:

Dvara KGFS, a systematically important NBFC in the Dvara Group regulated by RBI, works with a mission to maximise the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural India. Dvara KGFS has a strong presence across 10 states with 378 branches with 10281 digital agents reaching more than 2.38 million customers. click here to know more: www.dvarakgfs.com

Dhanuka Group Chairman Conferred Lifetime Achievement Award By Entomological Society of India

Recognizing his extraordinary contribution towards Indian farming community, Dr. Ram Gopal Agarwal, Chairman, Dhanuka Group has been accorded the Lifetime achievement award by the Entomological Society of India (ESI). This decoration underscores Dr. Agarwal's significant role in shaping a brighter future for Indian agriculture, characterized by increased productivity, profitability, and social standing for farmers.

The section committee of ESI had recommended bestowing upon the Lifetime achievement award to the Dhanuka Group chairman considering his deep commitment, strong conviction, philanthropic engagement, and high degree of professionalism in his continuous quest for making India's agriculture vibrant as well as for making farming a dignified profession with increased livelihood and heightened social status. 

In a ceremony at Gandhi Krishi Vignan Kendra (GKVK), Bengaluru, Dr. R. G. Agarwal received the award in the presence of Dr. S. V. Suresha, Vice Chancellor of University of Agricultural Sciences (UAS), Bengaluru, Dr. S. N. Sushil, Director, ICAR-National Bureau of Agricultural Insect Resources (NBAIR), Dr. S. N. Puri, Chief Patron, ESI, Dr. V. V. Ramamurthy, President, ESI and many other esteemed scientists and students of entomology from the various agricultural universities. 

Dr. R. G. Agarwal has dedicated 55 years of his profession to the cause of National prosperity through a vibrant agriculture sector. A renowned philanthropist, his legacy of altruism touches countless lives across domains. His benevolence extends across various domains, exemplified by the establishment of three schools in Rajasthan, Ashrams for spiritual well-being in Vrindavan, a Charitable dispensary at Govardhan, and a waiting hall at AIIMS among others. 

Honoured by the recognition, Dr. R. G. Agarwal expressed his heartfelt gratitude to the ESI. In his award speech, he underlined the critical roles played by agricultural scientist in own journey. Dr. Agarwal also emphasized the need for the innovative solutions for the farmers for better crop yield, thus ensuring higher income for them. On the occasion, Dr. Agarwal has also announced a cash award of Rs. 1 lakh for the Scientists (Entomology) for exceptional achievements in the area of research & development, which will start from next year. The scientist will be selected by the committee formed by ESI. 

Dr. Agarwal has also been a recipient of several coveted awards and recognition including the National Safety Award (thrice); Lifetime Achievement Award by CHAI, FICCI, and many more. 

Dassault Systèmes Names KLE Technical University A 3DEXPERIENCE Edu Center Of Excellence Under Global Program

·         KLETU now joins a select network of 20 institutions globally, contributing to competitive skills and competencies for Dassault Systèmes' customers

·         The collaboration aims to contribute to the "Make in India" initiative and accelerate academic contributions to "Design in India," providing expertise beyond smart manufacturing

·         Dassault Systèmes’ 3DEXPERIENCE Edu Centers of Excellence network contributes to the development of a skilled workforce capable of addressing the challenges and opportunities presented by the digital transformation of employers

Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced that it has named KLE Technical University (KLETU) in Hubbali, Karnataka a "3DEXPERIENCE Edu Center of Excellence" under its global program. KLETU’s achievement follows a comprehensive one-year evaluation process, during which KLETU displayed its commitment to innovation and technological advancement. The university's dedication was further demonstrated by the establishment of six flagship labs, known as "Star Labs," focusing on Visual Intelligence, AI Research, Intelligent Mobility, Electric Vehicles, Material Sciences, and Energy and Environment.

Dassault Systèmes' 3DEXPERIENCE Edu Centers of Excellence are instrumental in providing learners with valuable insights and expertise in industry-relevant applications. These centers combine physical equipment with Dassault Systèmes’ 3DEXPERIENCE virtual platform, enabling students to acquire skills in areas such as data science, virtual twin experiences, 3D printing, digital logistics, and more.

“KLETU now joins a select network of 20 institutions across the globe from which our customers can expect students and professionals having competitive skills and competencies. Our collaboration with KLETU creates a world-class incubator of best practices to not only contribute to the ‘Make in India’ initiative but also accelerate academic contributions to ‘Design in India.’ With this engagement, KLETU will also tout the required expertise to teach and execute projects beyond smart manufacturing augmenting factories of the future,” said Deepak NG, Managing Director, India, Dassault Systèmes.

The designated 3DEXPERIENCE Edu Center of Excellence is housed within the Center for Automation and Robotics Research, representing one of KLETU's “Star Labs”. This facility adheres to international benchmarks while incorporating unique capabilities, setting it apart from other Industry 4.0 installations. It serves as a vital resource for industry-driven research and education, fostering collaboration between academia and the rapidly evolving technology landscape.

The announcement of this achievement took place during the “International Conference on Transformations in Engineering Education.”

“KLETU undergoes its own transformation to better serve industry with talent and knowledge that is globally competitive. Our continuous investment in technology, industry expertise, and modern project-driven learning methods opens new perspectives in connecting our different labs with the 3DEXPERIENCE platform to produce a broad inter-disciplinary data continuity across transformative industry methods,” said Prof. Ashok Shettar, Vice Chancellor, KLETU.

The recognition of KLETU as a 3DEXPERIENCE Edu Center of Excellence marks a significant milestone in the university's pursuit of excellence in technology-driven education. As part of Dassault Systèmes’ global network of 3DEXPRIENCE EDU Centers of Excellence, KLETU is poised to contribute to the development of a skilled workforce equipped to address the challenges and opportunities presented by the smart manufacturing factories of the future.

CEAT ISRL Grand Finale: Bangalore To Witness High-Octane Action And Championship Showdown

The CEAT Indian Supercross Racing League (ISRL) is gearing up for its grand finale, marking the culmination of a historic inaugural season that has captivated motorsports enthusiasts across the nation. The third and final round is set to take place in the vibrant city of Bangalore on the 25th of February, promising a thrilling spectacle that will conclude the first-ever franchise-based Supercross league in the world. The race will be held at the Open Grounds, Survey No. 95-110, Behind Floating Walls, opposite Dash Square, Airport Road, Chikkajala.

After the adrenaline-fueled races in Pune and Ahmedabad, where the Shree Shiv Chhatrapati Sports Complex and EKA Arena witnessed high-octane action, the CEAT ISRL has left an indelible mark on the motorsports landscape in India. The inaugural season has not only showcased the skill and prowess of the riders but has also established India as a global hub for Supercross.

The leading teams like Bigrock Motorsports, BB Racing and Mohite’s Racing Team, having battled it out in the first two rounds, will bring their A-game to Bangalore for the ultimate showdown. With six franchise teams and 48 riders from around the world, the competition is fierce, promising an exhilarating display of speed, skill, and determination. The categories—450cc international riders, 250cc international riders, 250cc India-Asia mix, and the highly competitive 85cc junior class—will witness the best of the best competing for the coveted podium.

Mr. Veer Patel, Co-founder & Director of the CEAT Indian Supercross Racing League, expressed his anticipation for the grand finale, stating, "As we approach the final round of our inaugural season in Bangalore, the journey of the CEAT ISRL has been nothing short of phenomenal. The passion, talent, and sportsmanship displayed by the riders in Pune and Ahmedabad have set the stage for an unforgettable finale. We have witnessed India emerge as a force in the world of Supercross, and the grand finale in Bangalore is poised to be a celebration of this remarkable journey."

The league, accredited by the Federation of Motor Sports Clubs of India (FMSCI), has garnered global attention with its unique franchise-based format, attracting over 100 riders from different corners of the world. The CEAT ISRL has not only focused on delivering high-octane racing excitement but has also integrated star-studded music extravaganzas, creating a cultural phenomenon that extends beyond the racetrack.

The city of Bangalore, known for its vibrant culture and enthusiastic sporting community, is all set to host the grand finale with open arms and promises to be the perfect stage for the climax of the inaugural season.

As the CEAT ISRL gears up for the final showdown, it reaffirms its commitment to community engagement, talent development, and environmental sustainability. The league is not just about races; it's a movement that aims to inspire and nurture the passion for Supercross in India.

For more information on the CEAT ISRL Season One Grand Finale, visit the official website at https://indiansupercrossleague.com/.

Platform 65's Spectacular Lucky Draw Contest: A Carnival Of Surprises

Platform 65, India’s largest train-themed restaurant is thrilled to announce its special Lucky Draw contest from January 20th to February 29th. On the last day of the contest, 150 participants will be declared as lucky winners with exciting gifts like a Microwave Oven, Mixer Grinder, Electric Cooker, and Electric Kettle creating an atmosphere of joy and celebration. Platform 65, India’s largest toy train-themed restaurant, is set to bring amazing surprises to its customers with this engaging contest.

The contest will be conducted in all branches of Platform 65, ensuring widespread participation and making it a celebration that goes beyond geographical boundaries. With a duration spanning over a month, the contest provides plenty of time for individuals to participate and enjoy the excitement.

Sadgun Patha, Managing Director & Founder, Platform 65 shared that, "Embarking on this exhilarating journey with Platform 65, we're not just hosting a contest; we're crafting an experience. Join us as we unveil surprises that transcend the ordinary, promising joy and connection. In this contest, we celebrate inclusivity, making every participant a part of our vibrant story. Anticipate not just prizes, but a unique and thrilling adventure at Platform 65. Here's to creating history and shared moments of delight!"

Srikanth Bandaru, Corporate General Manager at Platform 65, expressed, “Embark on an adventure with Platform 65! Our special Lucky Draw Contest is more than just prizes; it's an invitation to experience the extraordinary. Brace yourselves for surprises that will elevate your dining moments to new heights. We welcome all our patrons to be a part of this excitement!"

Venkatesh Gopisetty, Vice President of Platform 65 said “At Platform 65 Restaurant, we believe in turning ordinary moments into extraordinary memories, and our Lucky Draw Contest is the perfect opportunity for everyone to experience the magic of chance and celebration”.

Platform 65 Restaurant is India's largest toy train-themed restaurant, offering a unique dining experience with a delightful toy train running through the restaurant. With 11 branches in Telangana, Andhra Pradesh and Karnataka, Platform 65 is committed to creating memorable moments for its patrons, combining good food with a playful atmosphere.

Welcome To The Era Of Mobile AI With All New Samsung Galaxy S24

Developing the Galaxy S24 series has been the most rewarding period of my career. As an engineer, I have witnessed many examples of incredible innovations, but AI is the most transformative technology of the century. Few engineers get the chance to be involved in something with such seismic potential. It brings great change, not only for Samsung and the mobile industry, but for all humankind.

When integrated into phones, AI, is to put it simply, a revolution. This is a new era for mobile experiences and Samsung Galaxy has a leading role to play in it. Mobile devices will become the primary access point for AI, and Samsung Galaxy – with our broad and comprehensive product portfolio, heritage of innovation, and philosophy of open collaboration – is in a great position to accelerate its global expansion. We will make mobile AI easy to access and ignite new possibilities for all.

Opening Up New Possibilities

As we pioneer groundbreaking experiences in mobile AI, we’ve thought a lot about how this new and exciting technology can enhance our lives and inspire society’s next steps. Applied with care and consideration, Galaxy AI helps people communicate beyond borders, complete everyday tasks easily, and so much more.

Since the launch of Galaxy S24 series, we’ve had great feedback about how people actually use Galaxy AI features in their daily lives. One of the most welcomed AI features is Circle to Search with Google, an incredible new tool for intuitive discovery. Our communication tools for removing language barriers, such as Live Translate, Chat Assist and Interpreter, have captured the imagination of many. People also love Photo Assist, our tools for creativity powered by our ProVisual Engine.

Again, we’re only getting started. While developing the Galaxy S24 series, we had many ideas and concepts that we wanted to bring to life. Galaxy users will be able to enjoy more Galaxy AI features that build on these ideas and concepts over time as Samsung continuously enhances and grows the mobile AI experiences.

Moreover, we are already planning next steps for Galaxy AI beyond smartphones – optimizing it for various categories of devices, across various services. In the near future, the select Galaxy wearables will use AI to enhance digital health and unlock a whole new era of expanded intelligent health experiences. Samsung will keep enriching and expanding Galaxy AI experiences across categories through collaborations with more industry-leading AI partners.

The Next Big Thing is YOU

Over the past year, we frequently asked ourselves what users want or need and what they could achieve with a little assistance. These questions inspired the Galaxy S24 series, our first AI phone that invites users to imagine how their lives could change thanks to AI. It is the phone of the future, shaping the standard of mobile AI and defining this emerging category of AI phones.

Of course, there are challenges and responsibilities to consider. AI models in training are still susceptible to hallucinations, and the debate on intellectual property rights continues. It is crucial that companies openly collaborate to carefully define AI experiences, so users can confidently and reliably enjoy their new abilities.

It’s also important to raise the standards of security and privacy in this new era of data-intensive mobile experiences. That is one of the reasons we’ve taken a hybrid approach that combines on-device and cloud-based AI. Besides ensuring seamless usability, this lets users limit some features to function entirely on-device, giving them greater control over what they do with their data. We remain committed to enhancing Galaxy device security and privacy by providing users with transparency and choice.

In this new era of mobile AI, it is no longer a question of what any phone can do, but what individuals can achieve with the right tools. Galaxy S24 series provides just some of those tools and I can’t wait to see what you will do with them. It is you who decides what’s possible, useful, and meaningful. The next chapter of mobile experiences does not belong to us. It belongs to you, our Samsung Galaxy users.

Minster Dharmendra Pradhan Inaugurates India’s First Skill India Centre, Says It Will Build Capacities Of Yuva Shakti

Shri Dharmendra Pradhan, Union Minister for Education and Skill Development and Entrepreneurship said today that India requires skilled and competent workforce to propel its development journey forward in the 21st century. The new-age and future skills are available at considerably higher cost in global markets and realizing this, we envision to democratize access to quality education and establish a level playing field for the aspiring youth. The introduction of low cost courses in the centre will empower large youth and make them the part of the evolving job market.

While addressing the youth at the inauguration of India’s first Skill India Centre (SIC) in Sambalpur, Odisha today, the minister stated that by spearheading the skill training programs in new-age job roles, we will upgrade the skills set of Amrit Peedhi in demand driven industries and we aim to empower over 1200 students through this centre.

Speaking on the launch, Shri Dharmendra Pradhan, Union Minister for Education and Skill Development and Entrepreneurship said, “Aligning with the Hon’ble Prime Minister, Shri Narendra Modi’s vision of empowering youth with new-age skills, inaugurated Odisha’s first Skill India Centre at Sambalpur today. The Skill India Centre will equip a vast majority of the young populace with employable skills in demand-driven trades, creating industry-ready workforce, encouraging entrepreneurship and strengthening the skilling ecosystem. It will be a catalyst of prosperity”.

The initiative is designed to build the capabilities and knowledge of Yuva Shakti in trades that are high in demand such as Media & Entertainment, Leather, Tourism & Hospitality, and IT-ITeS. In addition, Shri. Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship (MSDE) and Shri Ved Mani Tiwari, CEO, NSDC and MD, NSDC International addressed the event.

The initiative stands as a progressive step towards creating a conducive learning environment that empowers youth with industry-specific skills through a unique combination of classroom and work-based learning. The centre is equipped with best-in-class infrastructure, cutting-edge technologies and modern facilities that will catalyse demand for formal skills and will serve as a catalyst in enabling youth to acquire the skills needed to succeed in the respective fields. To further fuel growth, collaborative efforts are being made to harness the potential of demographic dividend to catalyse rural development, nurture local entrepreneurship and spur socio-economic growth.

The SIC will play a pivotal role in designing curriculum along with industry experts which will be aligned with the changing industry needs, promote standardization, and create employment opportunities that meet the demand for skilled talent across industries. It stands as a remarkable opportunity for youth that aims to leverage modern technologies, gain technology-driven learning experiences and explore potential career avenues with renowned organizations. 

To ensure seamless implementation of the training ecosystem, National Skill Development Corporation (NSDC) will designate a Centre Manager who will monitor the implementation of training programs, ensure adherence to quality standards, and overall functioning of the Center. This transformative step will open new avenues for individuals to pursue education, acquire new skills and employment linkages.

Following this event, the upcoming Skill India Centre in Odisha is scheduled to be inaugurated in Angul, Bhadrak, Dhenkanal, Talcher and Deogarh. By targeting the high economic growth sectors, each SIC in Odisha aims to address the specific skill needs of industries that have the potential to drive regional development and create sustainable employment opportunities.

In the beginning of the year, the Union Minister launched the Kaushal Rath initiative, buses  designed to provide skill training and certification to aspiring candidates across Odisha’s Sambalpur, Angul & Deogarh districts. It has already imparted training to 4000 candidates in a variety of course modules, thereby, fostering digital literacy, retail and entrepreneurial skills and inclusive growth of the region.

The promising, exuberant, and determined youth of Sambalpur has immense potential that will be leveraged through skill development and vocational training initiatives  focusing on enhancing their placement and employability prospects in the domestic and international markets.

The implementation of these features will revolutionize the skilling landscape in India, offering enhanced accessibility, personalized learning experiences, and improved career guidance. It will enable learners to acquire relevant skills, stay updated with industry trends, and contribute to India's workforce development effectively.

About National Skill Development Corporation (NSDC)

National Skill Development Corporation (NSDC) is the principal architect of the skill ecosystem in the country. It is a unique Public Private Partnership (PPP) enterprise working under the Ministry of Skill Development & Entrepreneurship (MSDE), Government of India. NSDC was established with the objective to catalyze the skilling ecosystem for private sector participation and be the strategic implementation and knowledge partner to Skill India Mission to build efficient vocational training initiatives, empowering India’s youth. NSDC provides support to enterprises, start-ups, companies, and organizations that are creating an impact by offering a world of opportunities in futuristic skills to the potential workforce. The organization develops appropriate models to enhance, support, and coordinate private sector initiatives in skilling by offering funding support to eligible entities, concessional loans to the candidates along with other innovative financial products, and builds strategic partnerships.