Manipal Academy Of Higher Education: First university In India To Host An IELTS Test Centre!

Manipal Academy of Higher Education (MAHE) has achieved a remarkable milestone by becoming the first university in India to host an IELTS test centre. MAHE Manipal signed a Memorandum of Understanding with IDP Education India Private Limited, New Delhi towards this engagement. With the test centre now accessible on campus, students will have convenient access to course modules, along with additional benefits such as discounted memberships and trained faculty mentors for assistance. The Department of Humanities & Management, Manipal Institute of Technology (MIT), Manipal will be hosting the Centre as a closed avenue exclusively for MAHE students. Registrations are now open for the first IELTS paper-based test going live on November 7, 2024.

The MoU was officially executed on 14 October 2024 in the presence of Dr Giridhar Kini, Registrar MAHE Manipal and Mr Kishan Kumar Yadav, Area Manager – IELTS Operations (South India), IDP Education India Pvt Ltd.

Dr Anil Rana, Director MIT Manipal, Dr Anup Naha, Director International Collaborations, Dr Yogesh Pai P, Head – Department of Humanities & Management at MIT Manipal and colleagues witnessed this exchange. Mr Abhishek Swamy, Assistant Territory Manager – Karnataka, IDP Education India Pvt. Ltd was present during the occasion.

"We are incredibly proud that MAHE has become the first university in India to host an IELTS Test Centre. This achievement reflects our commitment to enhancing global opportunities for our students and the community. Having a test center on campus will provide easier access to international education pathways and strengthen our efforts in promoting academic excellence and global exposure for our students”, said Dr. Giridhar Kini.

Achieving this significant milestone is yet another testament to MAHE’s commitment to fostering global education standards towards the holistic development of students and staff. This joint initiative between MAHE and IDP Education India Pvt Ltd will have a profound impact on both the university and the region, creating numerous pathways for students and professionals alike.

MIT-WPU Honours Scientist Dr. Krishnaswamy Vijay Raghavan With Vigyan Maharshi Samman At 6th Convocation Ceremony

In a celebration of scientific excellence and educational achievement, MIT World Peace University (MIT-WPU) honoured distinguished scientist Padma Shri Dr. Krishnaswamy Vijay Raghavan with the prestigious MIT-WPU Vigyan Maharshi Samman during its 6th convocation ceremony. The award was presented by the Chief Guest, Union Minister of Culture and Tourism, Shri Gajendra Singh Shekhawat, in recognition of Raghavan's outstanding contributions to the field of science. The accolade included a certificate, an idol of Saraswati, and a cash prize of Rs. 5 lakhs.

Dr. Krishnaswamy Vijay Raghavan, a recipient of the Padma Shri, serves as a DAE Homi Bhabha Chair and Emeritus Professor at the National Centre for Biological Sciences (NCBS). He is also a former Principal Scientific Advisor to the Government of India and chairs the Prime Minister's Science Technology and Innovation Council. His extensive career includes serving as Secretary to the Department of Biotechnology and Director of NCBS at the Tata Institute of Fundamental Research (TIFR).

In his address at the convocation, Dr. Krishnaswamy Vijay Raghavan expressed his gratitude upon receiving the prestigious MIT-WPU Vigyan Maharshi Samman, stating, "I am very proud to receive this honor. A university education is not solely about your time in classrooms. In fact, I would go as far as to say that the classroom is relatively incidental. The key aspect is your ability to communicate and connect with one another, so that you can break these silos as you enter the world." He also emphasized the critical global challenges we face today and their potential solutions, adding, "The world is now a far more complex place than it was even 10 years ago, and certainly over the last 50 years. We face many formidable challenges: climate change, extreme weather events, issues of sustainable development, water scarcity, and economic growth. These problems are indeed significant, but there is no challenge that cannot be tackled by us."

Shri Gajendra Singh Shekhawat, the Chief Guest of the ceremony, congratulated Dr. Krishnaswamy Vijay Raghavan on receiving the MIT-WPU Vigyan Maharshi Samman and extended his best wishes to the graduating students. He stated, As you embark on this new journey, remember that the continuous acquisition of knowledge, coupled with the ability to face challenges with determination and hard work, will be the pillars of your success. These milestones will guide you as you transition into the corporate world. It is your responsibility to prove your capabilities and, through your dedication and excellence, uplift the reputation of your family, your organization, and the community you represent. The true value of education is not merely in the knowledge gained but in how effectively you utilize that knowledge to bring about positive changes. Strive to innovate, find solutions to pressing challenges, and work towards enhancing the well-being of others. Your actions have the power to make a lasting impact on society and create a better future for all."

Prof. Dr. Vishwanath D. Karad, Founder President of MIT-WPU, shared his vision rooted in the ideals of Swami Vivekananda, reiterating the importance of harmonizing science and spirituality. "In 1893, Swami Vivekananda declared a vision at the first World Parliament of Religions in Chicago a vision guiding us today, where science and spirituality coexist harmoniously. We must foster a value-based universal education system connecting spirituality with science, through discipline and character building,"

Shri Rahul V. Karad, MIT-WPU’s Executive President, emphasized India’s potential to become a global leader in spirituality and science. He discussed the university's vision for a Global Education Managing Council to integrate spiritual components into technical education and encouraged students to innovate, rather than merely replicate Western models, fostering original thinking in engineering and technology.

During the ceremony, MIT-WPU also honoured other outstanding achievers. Abhijit Pawar received the 'Founder President Medal,' while Anushree Kulkarni was awarded the 'Executive President Medal.'

The convocation saw over 5,000 students receive degrees across multiple disciplines, including Engineering and Technology, Computer Science and Engineering, Business, Economics and Commerce, Health Science and Technology, Science and Environmental Studies, Law, and Consciousness Studies.

The ceremony was graced by several esteemed guests, including international business consultant Prof. Ram Charan, MIT-WPU Founder Trustee Prof. P.B. Joshi, Chairman of the Management Committee Prof. Dr. Mangesh T. Karad, Vice-Chancellor Dr. R.M. Chitnis, and other distinguished dignitaries adding further prominence to the event.

Michelin India Announces Winners Of The “Michelin AI Challenge”

* The challenge received over 100+ applications from 25 cities

* Winners: Kogo.ai, Prophecy and Zangoh.ai

Michelin, the world leader in tyre technology, announced the winners of the “Michelin AI Challenge”, the first AI challenge in the sector. Launched in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), and Startup India, the initiative aims to foster innovation and entrepreneurship in the Indian AI startup ecosystem while exposing them to global best practices.

The award ceremony undertaken at IIT Delhi, was honored by the presence of our special guests Mr. Petros Sourmelis, Minister-Counsellor, Delegation of EU to India and Bhutan, Ms. Marie Khater, Deputy Head of the Regional Economic Department for India and South Asia, Embassy of France, Dr. Ambica Rajagopal, Michelin Group's Chief Data and AI Officer, and Mr. Shantanu Deshpande, Managing Director of Michelin India.

During the event, 10 startups pitched their ideas, and Kogo.ai, Prophecy, and Zangoh.ai were recognized for their innovative contributions, learning opportunities to co-build on strategic projects and receive mentorship. The startups were carefully evaluated by a team of Michelin’s AI data scientists, business leaders, product managers and developers. A Memorandum of Understanding (MoU) has already been signed between Michelin and DPIIT, aimed at fostering sustained innovation and entrepreneurship, while creating an enabling environment for startups to thrive.

Speaking on the occasion, Dr. Ambica Rajagopal, Michelin Group's Chief Data and AI Officer said " The Michelin AI Startup Challenge is designed to identify and support innovative startups to build solutions using AI agents, LLMs, computer vision, and robotics to enhance manufacturing, product quality, road and pedestrian safety, and how to use AI in a responsible, explainable and ethical way. By leveraging LLMs and generative AI, we are not just automating workflows but enabling intelligent agents to discover optimal paths of action through complex choices. These AI systems are now able to generate insights from distributed knowledge, linking structured and unstructured data to build deeper models of customer behavior. The potential to unlock creativity and innovation has never been greater.”

Mr. Shantanu Deshpande, Managing Director of Michelin India, said; “At Michelin, our commitment to India is reflected in our decision to establish our AI headquarters in Pune and in our continued partnership with the government through initiatives like the MOU signed with DPIIT. We believe in the power of collaboration, where our global expertise and mentorship, combined with the government's scale and vision, create a win-win scenario. We sincerely extend our gratitude to DPIIT for their invaluable support in making this challenge a success."

Mr. Petros Sourmelis, Minister-Counsellor, Delegation of EU to India and Bhutan, said; “The AI Challenge is a novel initiative of Michelin that aims to expand Data and AI capabilities and bring innovation to the forefront. That it has received 200+ applications from startups across the country speaks volumes about the interest this program and its themes have generated. I hope this will give a huge spur to industry linked innovation and entrepreneurship in the country.”

Ms. Marie Khater, Deputy Head of the Regional Economic Department for India and South Asia Embassy of France said; “The work and activities engaged by Michelin in India embodies the profound and concrete partnership that our two countries have on digital technologies. Not only is Michelin an industrial group, one of the leaders in tyre manufacturing but the company is deeply engaged in innovation and R&D, particularly in the digital space. I am really looking forward to seeing how we can build on existing initiatives from French and Indian companies like this one to find synergies and strengthen our bilateral ties on innovation, notably in the perspective of the Indo-French year of innovation in 2026.”

The Michelin AI Challenge, a 12-week-long initiative, was undertaken in multiple stages which included, outreach, applications, shortlisting and mentorship until September 2024, followed by the grand finale featuring the shortlisted startups. The challenge saw an overwhelming response, with 106 startups applying from all over the country. Around 60% startups from tier 1 cities and tier 2 cities applied, showcasing diverse, innovative AI solutions that highlight the nation's talent and break geographical barriers.

The top ten AI innovators from the AI Startup Challenge presented their projects at the demo day at IIT Delhi. The three winning teams were awarded paid pilot projects from Michelin, with funding of up to INR 5 lakh each. Furthermore, these winners will gain access to global contracts and incubation support from Michelin leadership.

DPIIT has been proactively working towards mobilizing startups in the manufacturing space, and to provide them with early-stage support necessary for their growth. The Department is building an initiative to bridge the gap between industry and startups, by supporting with setting-up of incubators and incubation programs led by the industry. The initiative aims to empower manufacturing startups with innovative technologies and sustainable practices, enabling them to become leaders in the global market through incubation supported by the industry. 

869 Aakash Educational Services Limited Students Qualify Indian Olympiad Qualifier In Mathematics (IOQM) 2024; Now Eligible For RMO

*      This year’s results see a significant increase in the percentage of students from Aakash clearing the exam

*      The qualified students will now compete in the stage 2 of the Olympiad, Regional Mathematical Olympiad (RMO)

Aakash Educational Services Limited (AESL), the national leader in test preparatory services, proudly announces that 869 of its classroom students have successfully cleared the prestigious Indian Olympiad Qualifier in Mathematics (IOQM) 2024. This exam is the first step in the 2024-2025 cycle of the International Mathematical Olympiad (IMO), paving the way for participation in IMO 2025. The IOQM is conducted by the Mathematics Teachers Association of India [MTA (I)], with the subsequent stages being organized by the Homi Bhabha Centre for Science Education (Tata Institute of Fundamental Research) – HBCSE (TIFR).

Among the qualifiers of IOQM 2024 from Aakash, 11 students are from Class 8, 87 from Class 9, 276 from Class 10, 362 from Class 11, and 132 from Class 12.

The qualified students from the first stage (IOQM) will now compete in the second stage of the Olympiad journey, the Regional Mathematical Olympiad (RMO), scheduled for November 3, 2024. The students who clear the RMO will be eligible for the Indian National Mathematical Olympiad (INMO), which will take place on January 19, 2025

Congratulating the students on the impressive results, Mr. Deepak Mehrotra, MD & CEO of Aakash Educational Services Limited (AESL), said: “We are immensely proud of our students for their remarkable achievement in the IOQM 2024. This accomplishment reflects their dedication and passion for mathematics, and we at Aakash are committed to nurturing their talents at every step of their academic journey. As they move forward to the next stage, we stand behind them, confident that they will continue to excel and make the nation proud on the global stage. At Aakash, it is our constant endeavour to provide the best learning environment and resources to help students realize their full potential."

The International Mathematical Olympiad program is aimed at bringing secondary and higher secondary students with exceptional mathematical ability and passion for the subject from across the world together in a friendly competition of the highest level. India has been participating in International Mathematical Olympiad (IMO) since 1989 and Indian students have won a large number of medals over the years. After INMO, approximately top 65 students from all over India are invited for International Mathematical Olympiad Training Camp (IMOTC) where they undergo some theoretical and problem-solving sessions and compete against each other. 5-6 selected students from IMOTC are chosen to represent India at international level in IMO and are given training in Pre-Departure Camp (PDC). During the camp, orientation is provided to students for IMO and emphasis is laid on developing conceptual foundations and problem-solving skills. 

Aakash aims to help students in their quest to achieve academic success. It has a centralized in-house process for curriculum and content development and faculty training and monitoring, led by its National Academic Team. Over the years, students from Aakash have proven selection track record in various Medical & Engineering Entrance Exams, Scholarship Exams and Olympiads.

Emaar India Announces Its Entry In Maharashtra Market Introduces Casa Venero, Ultra-Luxury Project In Alibag

Emaar India the Indian business entity of the globally renowned brand Emaar, famous for developing Burj Khalifa, is now entering the Mumbai market with an offering in Alibag. The company will be introducing a coveted villa - only destination for the who’s who of Mumbai- the financial capital of India.  It will soon be launching its first ultra-luxury villa project, The Casa Venero in Alibag, Maharashtra. The company has set up their sales lounge in the Oberoi.

Located just 20 mins away from the Mandwa jetty in, Alibag, this project will be the epitome of finesse & pure leisure, a heavenly abode far away from the hustle-bustle of the city.  Casa Venero is set to redefine new standards of luxury living, with its exquisite design, myriad of opulent elements juxtaposed to create the perfect weekend home, nestled in the serene and charming coastal town of Alibag.

Casa Venero is spread across lush green area of 25 acres (approx.) offering 84 limited collection exquisite villas. The project is positioned as a weekend /holiday home with club house and other amenities spread across 80,000 plus Sq ft. Situated within a gated and secured exclusive community, these 84 exclusive villa owners will have access to clubhouse with lazy river, common green areas such as wellness lawn, sculpture garden, reflexology path, kids play area, butterfly garden, open amphitheatre and hammock garden. The project will boast plantation of 1000 plus trees and will offer a green retreat for the discerning Mumbai clientele.

Commenting on the announcement, Mr Kalyan Chakrabarti, CEO of Emaar India, stated, “We are thrilled to announce our entry into the western real estate market, we are excited to build a residential space that echoes international standards of luxury with the serene charm of Alibag, providing a truly exceptional living experience. This project is a testament to Emaar’s global reputation for quality and design, we look forward to delivering homes that set new standards of luxury living in India.”

“We are elated to introduce this unique concept to the Maharashtra real estate market, and we look forward to welcoming residents to experience the pure living that Casa Venero has to offer.”

This development by Emaar India will set a benchmark in luxury with USPs such as gated & secured exclusive community, over and above the farmhouse feel of villa with pool and private greens. It is set to bring in a new dimension in leisure amidst the serenity of Alibag.

Designed with exclusivity in mind, the independent villas are thoughtfully crafted with double height living area, equipped with private elevators, exclusive plunge pools & lawns, these would specifically cater to those discerning clientele who have a penchant for luxury and enjoy serenity. In order to create a bespoke and intimate, high-end living ambience, a judicious blend of indoor and outdoor amenities have been integrated with minimum wastage in passages for optimum utilization.

Casa Venero reflects Emaar’s global legacy and modern architectural excellence, setting new benchmarks in design and quality. At the heart of the property is a state-of-the-art clubhouse featuring a resort like lazy river, flowing from the swimming pool & offering a range of lifestyle amenities: gourmet dining options, a squash court, a fully equipped gym, a relaxing spa, and guest rooms.

Alibag is fast emerging as a preferred location for luxury first-homes as well, offering a perfect balance of peaceful coastal living and significantly improved connectivity to Mumbai. A mere heartbeat from the MMR (Mumbai Metropolitan Region), Casa Venero can be reached by a car drive & a ferry from Mumbai to Mandwa or by the newly constructed Atal Setu bridge that offers a seamless transition from the urban frenzy to the serene indulgence. This makes for an ideal investment for those looking for leisurely weekend home or a unique first home providing the finest in luxury and lifestyle.

Punjab & Sind Bank Announces Financial Results For Quarter And Half Year Ended September 30, 2024

Punjab & Sind Bank has announced its financial results for the quarter and half-year ended 30 September 2024, showcasing solid growth across key metrics.

The bank reported a Net Profit of Rs 240 crore for Q2FY25, marking a 26.98% increase, from Rs 189 crore in Q2FY24. Total Income rose by 15.86% YoY to Rs 3,098 crore, up from Rs 2,674 crore a year ago. Operating Profit surged 76.15% YoY to Rs 458 crore, compared to Rs 260 crore in Q2FY24.

Net Interest Income (NII) grew by 29.33% YoY to Rs 873 crore, versus Rs 675 crore in the previous year, while the Net Interest Margin (NIM) increased by 38 bps to 2.71%, up from 2.33% in Q2FY24. The bank’s Core Fee Income increased by 35.88% YoY to Rs 178 crore from Rs 131 crore in the same period last year.

In terms of growth, Total Business grew by 8.40% YoY to Rs 2,15,057 crore, up from Rs 1,98,387 crore a year ago. Total Deposits increased by 6.48% YoY to Rs 1,24,025 crore (vs Rs 1,16,481 in Q2FY24), with Retail Term Deposits registering an 8.94% YoY growth to Rs 52,239 crore (vs Rs 47,951 in Q2FY24). Total Advances rose by 11.14% YoY to Rs 91,032 crore (vs Rs 81,906 crore in Q2FY24), driven by a 18.09% YoY growth in RAM Advances, which increased to Rs 49,033 crore in Q2FY25, up from Rs 41,520 crore in Q2FY24. RAM Advances (%) to Gross Advances improved by 317 bps to 53.86% in Q2FY25 (from 50.69% in Q2FY24).

Operational improvements were evident with the Cost-to-Income ratio reducing by 958 bps to 62.82% in Q2FY25 vs 72.40 in Q2FY24. The Return on Assets (ROA) improved by 13 bps to 0.65%, compared to 0.52% in Q2FY24.

Asset quality also strengthened during the quarter under review compared to the same period last year. GNPA decreased by 202 bps YoY to 4.21% from 6.23% and NNPA fell by 42 bps YoY to 1.46% from 1.88%.

The Yield on Advances improved to 8.75% from 8.62% YoY, and the Yield on Investment rose to 7.06% from 6.76%.

The Provision Coverage Ratio (PCR) improved by 48 bps quarter-on-quarter.

Dalmia Bharat Optimistic About The India Growth Story

Q2 FY25 Highlights

Volume increased 8.4% YoY to 6.7 MnT

EBITDA/T stood at Rs 650/T

Renewable Energy consumption increased to 39%[1]

Executed Renewable Power Agreements under Group Captive for 151 MW cumulatively (in addition to 127 MW already executed earlier)

Net Debt to EBITDA stood at 0.25x

Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ended September 30, 2024.

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “India’s economic resilience with Government’s sustained thrust on building infrastructure and promoting manufacturing sector, underpins my conviction in the India growth. I believe that as India grows, cement sector being a proxy, will continue to flourish. We are actively working to announce our Phase II expansions within the next 9 months and achieve our interim milestone of 75 MnT by FY28.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “I am pleased that we delivered a strong volume growth of 8.4% YoY in Q2 FY25. However, the continuous & unprecedented softness in cement prices resulted in revenue declining 2.1% to Rs 3,087 Cr, and EBITDA falling 26.8% YoY to Rs 434 Cr for the quarter. While external challenges weighed on profitability, we remain focused on long-term cost drivers for margin improvement.”

Key updates

Commissioned 16 MW Captive solar power plant at Sattur, Tamil Nadu, increasing our total RE capacity to 202 MW

In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040, Dalmia Cement (Bharat) Limited, a wholly owned subsidiary of the Company, has entered into multiple Renewable Power Agreements under the Group Captive, which will secure 151 MW of renewable power energy. This is in addition to 127 MW of power agreements signed in Q1 FY25. With this, we have collectively signed agreements for 278 MW of RE Power. Commissioning of Renewable power plants is expected to be in FY25 & FY26.

In line with the Capital Allocation framework, the company has declared an interim dividend of Rs 4 per share.

Key Recognitions during the quarter

Recognized with India’s Most Sustainable companies and top 3 businesses in Cement & Building Material sector by the Business World for its commitment to sustainability and innovation

Recognized as the Best Sustainable Project for its initiative, Annadata. This project is a testament to Dalmia Cement's commitment towards rural innovation and social responsibility.

Three unit of Dalmia Cement won National Excellent Energy Efficient Units Award by CII’s 25th Energy Management Award 2024.

Mines at Kadapa unit have received 5 Star rating for sustainable mine management.