Author: Neel Achary

PeopleStrong Appoints Aashay Manake as Chief People Officer to Lead People and Culture

New Delhi, Jan 30: PeopleStrong, one of Asia’s leading human capital management (HCM) SaaS platforms, today announced the strategic appointment of Aashay Manake, former Vice President HR at Jubilant FoodWorks, as its Chief People Officer (CPO). In this role, Aashay will spearhead PeopleStrong’s people and culture strategy, driving leadership capability, workforce effectiveness, and organisational readiness as the company scales across markets.

Aashay brings over 16 years of experience across high-growth and complex organisations spanning FMCG, industrial conglomerates, hospitality/consumer tech, and QSR and food services. Prior to joining PeopleStrong, he held senior people leadership roles at ITC Ltd., GE, OYO, and most recently Jubilant FoodWorks, where he led people strategy for large, multi-brand, and distributed workforces.

An alumnus of SCMHRD, Aashay has led enterprise-wide HR initiatives covering performance and rewards, talent and leadership development, employee relations, and organisational design, often in environments undergoing rapid transformation and scale.

Sandeep Chaudhary, CEO of PeopleStrong, said:

“At PeopleStrong, we believe that people care is good business. As we scale across markets and support organisations navigating increasingly complex workforce realities, having a leader who combines strong HR expertise, process thinking, and genuine human understanding is critical. Aashay embodies this balance exceptionally well. We are delighted to welcome him to the leadership team and look forward to strengthening our people and culture agenda as the company enters its next phase of growth.”

Commenting on his new role, Aashay Manake, Chief People Officer, PeopleStrong, said:

“PeopleStrong has consistently been at the forefront of progressive people practices, setting benchmarks for how culture, leadership, and employee experience can drive long-term value. I am excited to build on this foundation and work with the leadership team to strengthen capabilities, create scalable people systems, and foster a culture that brings joy, energy, and meaning to work.”

This appointment reinforces PeopleStrong’s commitment to building strong leadership capability and a people-first organisation aligned with its long-term growth ambitions. PeopleStrong powers over 500 enterprises, serves more than 2 million users, and processes over 1.75 million paychecks monthly. Its HR mobile app is among the highest-rated globally, with a 4.8/5 rating across iOS and Android, and the company has consistently featured in Gartner’s Voice of the Customer report, earning recognition as a Customers’ Choice for Cloud HCM Suites for enterprises with over 1,000 employees from 2022 to 2025.

Ahead of Union Budget 2026, KoinX Report Highlights Growing Disconnect Between Crypto Trading Outcomes and Tax Liabilities

As India prepares for the Union Budget 2026, the domestic crypto industry is seeking a more outcome-aligned tax framework, including rationalisation of the capital gains tax rate, allowance for loss offsets, and a re-evaluation of the tax deducted at source (TDS) mechanism.

These recommendations are strongly supported by India’s Crypto Tax Story 2025, the annual report released by KoinX, a crypto taxation and portfolio-tracking platform. Based on anonymised data from nearly seven lakh Indian users with crypto transactions in FY 2024–25, the report offers a data-led assessment of how current tax rules translate into real investor outcomes.

The report finds that while the current 1% TDS has strengthened transaction-level reporting and compliance, it has also led to significant capital lock-in due to upfront deductions. Since TDS is applied to every transaction irrespective of gains or losses, it functions more as a volume-based compliance mechanism rather than a profit-linked tax, resulting in widespread refund dependency.

Commenting on the findings, Punit Agarwal, Founder & CEO, KoinX, said:

“TDS primarily serves as a reporting mechanism to enhance compliance and transaction visibility, not as a financial burden—excess amounts are refunded at the time of ITR filing, making it budget-neutral in the long run. We strongly advocate reducing the rate to 0.1% across the industry to unlock capital tied up in upfront deductions, particularly for high-frequency traders who drive the bulk of volumes yet face refunds in over 30% of cases. A uniform reduction would ease liquidity pressure, discourage migration to offshore platforms, and retain reporting effectiveness without weakening oversight.”

Key TDS Findings (FY 2024–25)

• Over 30% of TDS deducted exceeded users’ final tax liability

• Nearly half of TDS-paying users ended the year with net capital losses

• Less than 5% of traders accounted for 87% of total TDS collections

This skew highlights that while high-activity traders contribute a disproportionate share of TDS, thin trading margins mean both active and retail participants face liquidity constraints—albeit at different scales.

Capital Gains: Profits and Losses Tell a Different Story

On capital gains, the report flags a sharper misalignment between trading outcomes and tax liability. Investor results for FY 2024–25 were almost evenly split:

• 50.91% of users reported net capital gains

• 49.09% of users reported net capital losses

Despite this balance, taxable capital gains were significantly inflated due to the non-allowance of loss offsets. As a result, investors who ended the year with overall losses were still liable to pay tax on isolated profitable transactions.

“Nearly half of investors reported net losses, yet paid tax on individual gains because loss offsets are blocked. Across asset classes, the principle is simple—no net gain means no capital gains tax. Excluding crypto from this logic distorts incentives, undermines fairness, and risks pushing legitimate activity offshore,” Agarwal added.

Budget 2026 Implications

Through India’s Crypto Tax Story 2025, KoinX aims to provide policymakers and stakeholders with empirical inputs to evaluate capital gains rationalisation, loss-offset provisions, and the design of compliance mechanisms.

Ahead of the Union Budget 2026, the findings underscore the need to balance revenue considerations with capital efficiency, tax neutrality, and administrative simplicity—especially as retail participation in digital assets continues to expand.

Ramco Systems Delivers Stable Q3 FY26 Results

Chennai, INDIA, Jan 30:  Ramco Systems, a global enterprise software company offering next-generation SaaS-enabled platform and products, today announced the results for the third quarter of the financial year 2025-26.

For the quarter ended December 31, 2025 (Q3: 2025-26), the global consolidated income of Ramco Systems Limited stood at USD 20.35m (Rs. 180.02cr). The EBITDA for the quarter stood at USD 5.24m (Rs. 46.43cr) at 26%. With the recent changes in the Labour Code, after considering a one-time exceptional item of USD 2.43m (Rs. 21.5cr), the net profit after tax for the quarter stood at USD 0.36m (Rs. 3.26cr).

Results at a Glance:

Financial Highlights:

• Quarterly Order Bookings stood at USD 10.62m
• Recurring revenue remained stable at USD 11.29m
• With the Unexecuted Order Book at USD 149.74m, Ramco maintains a stable base for future execution and revenue realization
• Maintained a cash balance of USD 11.77m as of December 31, 2025

Business Highlights:

• Added marquee customers and deepened partnerships with existing clients:
  • A leading global IT services and consulting company selected Ramco to standardize payroll across multiple Middle Eastern markets, creating an AI-ready payroll foundation for insight-driven decisions.
  • A global real estate investment and fund management firm adopted Ramco Payce to scale and govern payroll for its Australian workforce
  • A multinational healthcare services and solutions provider chose Ramco to unify payroll across India and the Philippines
  • A US-headquartered defense contractor providing helicopter MRO services selected Ramco Aviation Software to provide end-to-end lifecycle coverage across its operations
  • An aviation charter services provider from Australia chose Ramco Aviation Software to modernize its operations
  • A world leading provider of jet and turboprop engines expanded its relationship with Ramco by choosing Ramco Payce for its payroll function across Southeast Asia, India, and the Middle East
  • A leading integrated media company in Asia selected Ramco Payce to unify and modernize its payroll ecosystem
• A global logistics company went live with Ramco Logistics Solution, transforming its fleet management operations across Australia, Indonesia and the Philippines
• Ramco Payce is certified as a Workday Global Payroll Connect (GPC) partner. This integration of Ramco’s multi-country payroll with Workday’s Human Capital Management (HCM) delivers seamless, accurate and scalable solutions for global enterprises.
• Recognized at the HR Vendors of the Year 2025 Awards, winning Best Payroll Software and Best Payroll Outsourcing Partner across Malaysia and Singapore

Abinav Raja, Managing Director, Ramco Systems, said, “As we progress through our modernization journey, we are expanding our technology teams with next‑generation talent. This focus would further enable us to accelerate product shipment, enhance quality, and deepen our AI and agentic capabilities. These steps are positioning us to deliver greater value to customers as we scale.”

Sandesh Bilagi, President & COO, Ramco Systems, said, “We have maintained steady revenue performance and sustained net profitability for yet another quarter. Project delivery remained on track, with our teams ensuring consistent go‑lives across engagements. Customer engagement quality has improved significantly, translating into stronger relationships and greater value delivery. With this operational rhythm firmly in place, our focus will now be on accelerating order closures in the coming quarters.”

TRG Group Launches OneMart at TRG The Mall, Redefining Smart Shopping in Greater Noida West

Greater Noida West, Jan 30: TRG Group, a leading name in commercial real estate, has announced the launch of OneMart, its first modern retail destination, at TRG The Mall in Greater Noida West. Conceptualized as a modern, convenient, and customer-centric shopping destination, OneMart aims to deliver a seamless and value-driven shopping experience under one roof for families, working professionals, and the rapidly growing local community.

Spanning over 20,000 sq. ft., OneMart offers an extensive assortment of more than 10,000 SKUs across 8–12 core categories, catering to every household need. The product range includes food and groceries, fresh fruits and vegetables, beverages, packaged foods, personal care products, household essentials, kitchen and utility items, cleaning products, as well as seasonal and festive goods. The store also features a wide selection of private-label products, ensuring quality offerings at competitive prices.

Designed to enhance customer convenience, OneMart integrates contemporary retail services such as home delivery, loyalty programs, fast express checkout, and specially curated value packs. The store layout emphasizes effortless navigation with broad aisles, clearly labeled sections, effective product zoning, modern lighting, and dedicated “Value Deals” zones—reinforcing the concept of true one-stop shopping.

Commenting on the launch, Mr. Pawan Sharma, Managing Director, TRG Group, said:

“The launch of OneMart at TRG The Mall marks a significant milestone in organized retail for Greater Noida West. Our vision is to create a retail destination where convenience, quality, and affordability come together. OneMart is designed to make shopping easy, enjoyable, and rewarding, and we are confident it will set new benchmarks in smart retailing through its enhanced in-store experience and customer-focused approach.”

Strategically located within a 600-acre high-rise township catchment area, TRG The Mall serves a rapidly expanding population of over 5 lakh residents and establishments. As an anchor store, OneMart is expected to drive strong daily footfall, strengthen the mall’s tenant mix, and positively impact surrounding retail activity—positioning TRG The Mall as a prominent lifestyle and entertainment hub in the region.

OneMart further elevates the shopping experience through digital billing, app-based shopping assistance, digital price tags, and real-time inventory updates. By combining affordability, quality, and advanced retail technology, OneMart is set to redefine the standards of smart shopping in Greater Noida West.

HDFC ERGO successfully conducts 3rd edition of State Insurance Quiz Junior Grand Finale in Tamil Nadu and Puducherry

Chennai, January 30: HDFC ERGO General Insurance Company, India’s leading private sector general insurer, successfully conducted the grand finale of the third edition of the State Insurance Quiz Junior– Tamil Nadu & Puducherry Chapter 2026.

After a series of exciting preliminary and semi-final rounds, the grand finale witnessed a spirited contest among eight top-performing teams. Team Srinuprasad and Ajesh from GHSS Kalkulam, Kanniyakumari, emerged as the champions of the quiz competition. Sibidharshan and Nikil from GHSS Palapatti, Namakkal, secured the first runner-up position, while Monisha and Anushya from GHS Vanavareddy, Kallakurichi, finished as the second runners-up. The winning team was awarded a cash prize of ₹1.5 lakh, while the first and second runners-up received ₹90,000 and ₹60,000 respectively. The remaining five teams were each awarded a cash prize of ₹30,000.

This year’s quiz witnessed an overwhelming response, attracting over 1,070 teams from Tamil-medium Government schools across 42 districts, a significant rise from the 530+ teams that participated in the second edition of the state level quiz last year.

Speaking about the initiative, Parthanil Ghosh, Executive Director, HDFC ERGO General Insurance, said, “Building financial confidence at a young age lays the foundation for a resilient future. As the lead insurer for Tamil Nadu and Puducherry, we remain deeply committed to strengthening insurance awareness at the grassroots and increasing the adoption of insurance products. What began as a modest initiative—State Insurance Quiz Junior–Tamil Nadu & Puducherry Chapter—with participation from just over 100 schools has grown to more than 1,070 teams in three years, reflecting the rising curiosity and understanding of insurance among students across the states. The success of the 2026 edition reaffirms the impact of this initiative and strengthens our resolve to continue nurturing financially aware and empowered young citizens.”

Since 2016, HDFC ERGO has been organising Insurance Quiz Junior on a national level to spread insurance awareness among next generation, engaging over 25 lakh students across Bharat. Building on this legacy, the company introduced the first-ever Insurance Quiz Senior for undergraduate students in 2025, drawing participation from 1,100+ students across 140+ cities.

As part of its broader insurance awareness efforts in the region, HDFC ERGO also concluded the 3rd edition of ‘Kapitu Varaam’ (Insurance Week) in collaboration with 29 non-life insurers. The initiative aimed to enhance public understanding of motor, health, home, shopkeeper and MSME insurance through multiple outreach activities, including pamphlet distribution, newspaper inserts and awareness drives across high-footfall locations, collectively facilitating ~ 17 lakh interactions.

Col Saurabh Sanyal Takes Charge as Secretary General of ASSOCHAM

New Delhi, Jan 29: Col Saurabh Sanyal (Retd.) has assumed charge as the Secretary General of ASSOCHAM, India’s oldest Apex National Chamber of Commerce and Industry, representing over 4.5 lakh direct and indirect members across industry, trade, and services.

With over four decades of experience spanning government, the corporate sector, and industry chambers, Col Sanyal brings extensive expertise in policy engagement, institution-building, and stakeholder collaboration.

“It is an honour to lead an institution of ASSOCHAM’s legacy and national relevance,” said Col Sanyal. “ASSOCHAM will continue to serve as a constructive and trusted partner of the Government of India, focusing on impactful policy advocacy, strengthening member capabilities, and contributing to India’s socio-economic development.”

Col Sanyal has previously served as ASSOCHAM’s Deputy Secretary General during 2019–2020, bringing with him a deep understanding of the Chamber’s operations and strategic priorities.

Welcoming the appointment, ASSOCHAM President Mr Nirmal Kumar Minda said,

“Col Sanyal’s leadership and wide-ranging experience will significantly enhance the Chamber’s engagement with policymakers and improve value delivery to members. His appointment aligns with ASSOCHAM’s focus on the five pillars of Make in India, MSME, Ease of Doing Business, Digital Economy, and Sustainability & Environment.”