27, Dec 2023
RBI’s Risk Weight Hike on Consumer Credit
“RBI’s Risk Weight Hike on Customer Credit” by Mr. Amit Shroff, CEO of Arvog
In a recent move, the Reserve Bank of India (RBI) has implemented a significant increase in the risk weight for loans to customers, credit card treatments, and NBFC loans from 100% to 125%. Concerns over the rapid expansion of consumer borrowing have been rising, prompting this decision.
How will this adjustment impact the dynamics of consumer lending? More importantly, what are the implications for traditional and non-banking lenders? As these questions linger, exploring the potential consequences and navigating the road ahead for consumers and financial institutions is imperative.
What is a risk weight?
The RBI mandates banks set aside capital (risk weight) to lend money. The National Housing Bank does the same for housing finance businesses. Basically, it’s how much (shown as the loan percentage) institutions need to conserve for assets. By raising risk weights, the Reserve Bank of India hopes to prepare banks for losses in these categories and prevent overexposure that might threaten the banking system.
Latest Move on Risk Weights by the RBI
According to the RBI, unsecured loans, including credit cards, personal loans, and consumer credits, now have higher risk weights. The risk factor for banks lending to non-banking financing businesses that serve this market also increased. The risk weight determines the amount of money that the bank or home loan business must set aside. For example, a house loan of more than Rs 75 lakh carries a risk weight of 125%. Risk weight increases to Rs 1,250 crore for a bank with a Rs 1,000 crore portfolio in loans exceeding Rs 75 lakh.
The issue of capital adequacy now arises. This figure is 12% for home finance providers, compared to 9% for banks. Simply put, a bank must reserve Rs 112.50 crore, while a home finance firm must set aside Rs 150 crore.
Effects on Borrowers
Interest Rates: Borrowers usually pay less in interest when their risk weights are lower. Banks can provide more competitive interest rates on loans when they hold assets with a lower risk weight because they conserve cash. The interest rates on mortgage loans, for instance, are often lower than those on credit cards or personal loans due to the lower risk weights associated with the former.
Loan price: Risk weights have an indirect impact on loan price. When risk weights are higher, banks have to put more cash into the business, which could cause interest rates on loans to go up.
Impact on Retail Lending
Capital Consumption: Due to the higher risk weight restrictions, banks may need to keep more capital to cover these loans, resulting in a 35–100 basis point increase in lending costs. The requirement to raise capital may be greater for PSU banks than for well-capitalised firms.
Pricing and Growth: Although risk weights have increased, it is unlikely that the expansion of loans would be immediately restricted. This is because there will be a significant demand for credit regardless of interest rate changes. However, lenders and borrowers will closely observe this change since it may affect bank pricing methods.
The road ahead
Unsecured loans, such as those for consumer credits, personal loans, and credit card balances, are rising. The marginal cost of these loan segments might increase because of the greater risk provisioning. The effect on loan rates would differ between lenders
Banks that have a greater proportion of unsecured advances in their loan portfolios could respond more strongly than those that do not. Overall, banks and NBFCs will need more funding to adjust their objectives to rising risk weights while limiting profit margins and NPA risks.
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- By Rabindra
27, Dec 2023
year-end quote from Mr. Ashish Dobhal, CEO, UPL SAS
Mr. Ashish Dobhal, CEO, UPL SAS, said, “The year 2023 has presented several challenges for the global agricultural industry. Input price fluctuations, pest attacks and extreme weather events have compounded difficulties. However, despite these challenges, the industry has demonstrated remarkable resilience, underscoring the importance of sustainable farming practices. Even in adversity, these practices have proven pivotal in ensuring stability and sustainability in agriculture. Moreover, 2023 has emphasized the increasing significance of technology in farming, showcasing how innovation can revolutionize agricultural practices, making them more efficient and sustainable for the future.
Looking ahead to FY24, there is optimism regarding the positive changes that can be implemented in the agriculture sector, with a keen focus on sustainable practices, climate solutions and the integration of technology. At UPL, in line with our vision of ‘Reimagining Sustainability’ for farmers and food systems, we are taking bold steps to reduce our environmental impact, strengthen our social responsibility initiatives, and improve our governance practices – and we are proud that Dow Jones Sustainability Index has recognized this. We remain focused on breaking new ground for our industry and look forward to progressing our sustainability initiatives as we approach our 2040 carbon-neutral commitment.
Additionally, in the year ahead, under UPL’s Shashwat Mithaas – Sustainable Sugar Program, which exemplifies the company’s steadfast dedication to sustainability, aiming to provide sustainable solutions for sugarcane farmers, we are planning to sign Memorandums of Understanding with 15 sugar mills across Karnataka, Telangana, Madhya Pradesh, Uttar Pradesh, Maharashtra, and Gujarat. Furthermore, in collaboration with other global leaders, we have entered into an agreement to bolster food production, storage, and supply chains in the developing world through the ‘food security’ program.
Given the unpredictability and potential impact of weather adversities every year, it is imperative for us to remain vigilant. Hence, it is essential to commit to leveraging cutting-edge technologies and promoting practices like precision agriculture to empower our farmers and ensure global food security. The integration of technology not only augments productivity but also fosters sustainability, thereby playing a pivotal role in propelling growth within the agricultural sector on a global scale. Moving forward, we anticipate a potentially significant stride forward for sustainable agriculture globally.”
27, Dec 2023
“The content landscape change will be exponential and exciting through AI in the next 24 months”
Hyderabad, 27 December 2023: Following an accomplished Day 1 of the StartX Summit, The Hyderabad Public School Begumpet hosted another enriching day of the summit. The day featured a lineup of renowned HPS alumni experts, sharing their insights and strategies for achieving success in the startup landscape. A captivating session by HPS alumni Ishan Chatterjee, Rana Daggubati, and Nag Ashwin was a delight for aspiring creators. The event unfolded with a panel discussion on ‘Navigating the Creator Economy – A New Era of Digital Entrepreneurship’. Mr. Ishan Chatterjee – Managing Director, YouTube India; Mr. Rahul Tamada – Cofounder & CEO, Tamada Media; Ms. Supriya Yarlagadda – CEO, Annapurna Studios; Mr. Rana Daggubati – Film Actor & Producer; Mr. Nag Ashwin – Indian Film Director & Screenwriter; Mr. Satish Mummareddy – Former Product Manager, GenAI, Meta discussed the current trends in the economic landscape for entrepreneurs especially in the digital era.
Elaborating on the evolution of content, Mr. Ishan Chatterjee – Managing Director, YouTube India said, “Platforms like YouTube have democratized access to creative arts, now anyone can be creator. It has implications for mainstream media and existing business and for a creator economy as a whole since you can legitimately build business. Hyper-localization and the ability to access languages and genres is evermore possible. With a huge majority of content being consumed in short form videos now, the content landscape will change in the next 24 months by Gen- AI. It will be an exponential and exciting change.”
Mr. Rana Daggubati – Film Actor & Producer reflected on the changing landscape for creators, “Being a creator is all about being original, you must have a story coming deep inside from you, this is important to for the content to be relevant. Our generation has seen films disappeared with digitization. Learning and unlearning is the key, you need to create a cycle. Change is going to be dramatic and quick, unless you are on that cycle, it will be difficult. It is what you choose to chase – which skill you want to pick. Earlier it used to be an imitation game. The change of thought now is that the world is one and anything that is made here can get picked elsewhere in no time.”
“The mainstream creators are going to be superpowers – with higher quality content which is accessible much faster, much cheaper, a large set of people who can get an opportunity to do that will be superpowers” said Mr. Satish Mummareddy – Former Product Manager, GenAI, Meta added.
Reminiscing their memories from school days, Mr. Nag Ashwin – Indian Film Director and screenwriter shared, “HPS helped us to prep for the real world and we are glad to give back to the school”. Talking about filmmaking he added, “When I make a film, I wish to reach wider audience rather than confined audience like from Bangladesh or any other global space.
“When every creator can build an audience set that is very niche, monetization is an easy ball game. Short-form content is the future. Monetization is just a byproduct of the community built on loyalty and constant engagement,” said Mr. Rahul Tamada – Cofounder & CEO, Tamada Media.
Yet another panel discussion on ‘Intrapreneurship – Igniting Innovation in Established Businesses’ witnessed Mr. Vikas Jhabakh- MD, Motovault & Benelli India; Mr. Krishna Kanumari- CEO and MD – Sai Life sciences; Mr. Gautam Reddy- Co-founder, PAD integrated Communications; Mr. Anand Narasimhan – Head of Oncology Business, Merck; Abhishek Somany- Owner, Somany Ceramics Limited.
Mr. Anand Narasimhan – Head of Oncology Business, Merck said, “Rallying the team together is what HPS taught me. I attribute a lot of what I am today to HPS. As one of the oldest pharma companies of the world, you must reinvent yourself. It took until 2008 when the company could build a base and grow its businesses. Organic innovation is needed to overcome the inertia. The political environment plays a huge role and we have the best startup environment in the world.”
“India is strong in generic manufacturing. You have to pick the best trend which you believe in. In R&D, you have to invest in technology ahead of time, incubate for long period of time. We need to think strategically for innovative business, studying the trends before others do. Every company has to decide its own comfort level risk. HPS as a school made us all-rounders by exposing us to a diverse environment.” Mr. Krishna Kanumari- CEO and MD – Sai Life sciences added.
Mr. Vikas Jhabakh- MD, Motovault & Benelli India said; “About 1.5%-1.6% family businesses go beyond family business. It is critical to identify your space in the market before the trend catches in the market. If the opportunity is too obvious, you are probably already late. You need to understand where the market is moving.. You might never time it as well but be able to take advantage of the trends. The greatest learning for me at HPS was that everything is possible in this world. There is something special that has been happening at HPS throughout and the great alumni network sets us apart.”
Abhishek Somany- Owner, Somany Ceramics Limited reminisced his homecoming days by saying, “HPS will have a lot more alumni who will be on the world stage”. He said that a lot of disruption is happening in the AI front in ceramics. People are more familiar with purchasing online since technology is enabling the consumer in their purchase decisions.”
Post the panel discussions, entrepreneurs and leaders participated in speed networking sessions with startups showcased at the event. The young entrepreneurs got to learn from the best in the field to exchange ideas spanning entrepreneurship, content creation, healthcare, technology, and marketing, as these sessions gave them a platform to interact with global mentors at the school. An interesting stark tank inspired Startup Pitch session was also held, which gave a boost to Six Alumni-led startups by allowing them to pitch in front of a 5-judge panel.
At the summit’s conclusion, funding was secured by three startups—Hit Wicket, Panoplia, and Iris amounting to a total of 4.9 crores from Alumni Investors, including major contributors like Mr. Ashish Bajaj, CEO and co-founder of eLear Solutions, and Mr. Sailesh Sigatapu, General Partner at Anthill Ventures.
Cricket commentator and alumnus Harsha Bhogle also inaugurated a leadership and grooming program for future leaders – ‘World is my Oyster‘. A panel discussion was held on the program crafted to boost mentorship and guidance through large scale alumni participation. Hardcore components of the module will be board room discussions and conflict management. The panelists comprised Dr. Skand Bali, the Principal of The Hyderabad Public School, Mr. Suheim Sheikh from YCH Sports Foundation, Himanshu Tambe from ISB & SMUCEO Cosmode Consultants, and Mr. Sarat Naru, specializing in career counseling.
27, Dec 2023
Ayurvedant Redefines Wellness Landscape with Innovative Ayurvedic Offerings
Experience the Power of Ayurveda with Ayurvedant – Where Tradition Meets Modern Wellness for a Healthier Tomorrow!
27th Dec 2023, New Delhi: In the pursuit of a healthier and more balanced life, Ayurvedant emerges as a beacon of preventive care, grounded in the ancient wisdom of Ayurveda. Founded on the principle that prevention is superior to cure, Ayurvedant prioritizes holistic well-being for the mind, body, and soul. The brand’s mission centers on providing affordable access to premium Ayurvedic products, catering to diverse age groups and genders. Unlike the traditional approach of turning to medicinal remedies only in times of illness, Ayurvedant advocates for a proactive stance on health.
What sets Ayurvedant apart is its alliance with the esteemed Baidyanath Research Foundation (BRF), boasting over a century of Ayurvedic expertise. With products manufactured in WHO-GMP certified facilities, Ayurvedant ensures consistency through standardized extracts in every batch. The brand takes a modern approach, offering free consultations with doctors and fostering accessibility for millennials and Gen-Z, demystifying Ayurveda for a new era.
Ayurvedant’s product lineup includes notable offerings such as Cardiwin DS, promoting cardiovascular health, and Diawin DS, aiding in blood sugar regulation. The brand also features a range of 100% natural Ready-To-Drink juices without added sugar or preservatives. Striking a harmonious balance between traditional Ayurvedic principles and contemporary scientific methods, Ayurvedant aligns its product development with ancient texts while adhering to modern quality standards.
The commitment to quality and purity is evident in Ayurvedant’s WHO-GMP certified manufacturing processes and the meticulous sourcing of raw ingredients from specific regions across India. The brand’s dedication to environmental sustainability is reflected in its use of recycled plastic for packaging for majority of their products.
Ayurvedant’s vision, as envisioned by its founder, is to make Ayurveda universally accepted and accessible. Unlike traditional Ayurvedic practices, Ayurvedant adopts a modern and straightforward approach, ensuring its products are available both online and in physical stores, reaching a wider audience.
With recent launches like Cannabliss, a hemp-based pain relief oil, and Himalayan Pink Rock Salt, Ayurvedant continues to innovate. The brand’s upcoming additions, including new tea variants like Tulsi & Camomile, and Tulsi, Ginger & Turmeric, showcase its commitment to staying at the forefront of wellness solutions.
For more information about Ayurvedant and its range of Ayurvedic products, visit : https://ayurvedant.com
About Ayurvedant:
Ayurvedant is a wellness brand founded on the principle of preventive health through Ayurveda. Backed by Baidyanath Research Foundation, Ayurvedant offers a range of Ayurvedic products manufactured in WHO-GMP certified facilities. The brand combines traditional wisdom with modern accessibility, making Ayurveda an integral part of a contemporary and holistic lifestyle.
27, Dec 2023
“Musical Night with Spectrum” Ignites the Festive Season with Spectacular Performances and Unforgettable Moments”
Spectrum Metro, in Sector 75, Noida, the iconic destination for entertainment and celebration, successfully set the stage ablaze with its much-anticipated festive event, “Musical Night with Spectrum.” The event marked the culmination of 2023 and the onset of the Christmas and New Year festivities. The musical extravaganza left the audience in awe, with talented artists taking the stage by storm and delivering breathtaking performances. It was held on December 25, 2023.
The night began with an air of excitement as Spectrum@Metro, transformed into a musical haven adorned with festive decorations and sparkling lights. The ambience resonated with the season’s spirit, creating the perfect backdrop for an unforgettable evening. The stage came alive with a dance group opening the show with a soul-stirring performance on ‘Ganesh Vandana’ that captivated the audience from the very first note. The lineup for the evening featured a melodious and talented Sufi group, ‘Ibadad’, to captivate the audience with their finest performance by singer Mayank Chhabra on famous tracks like “O humdum bin tere kya jeena” and “Akhiyan udeek diyan.” As the night progressed, the festive spirit peaked with the seamless transitions between performances that kept the energy high and the audience engaged, creating an eccentric atmosphere that resonated with the holiday spirit.
Speaking on the event, Mr Ajendra Singh, V.P. Sales & Marketing, said, “Musical Night with Spectrum” at Spectrum Metro was a resounding success, bringing together a community of music lovers and creating a magical atmosphere this festive season. Spectrum Metro once again proved itself as the go-to destination for unparalleled entertainment and celebration. It will always strive to entertain visitors with a potpourri of amusement and fun.” Until the next musical rendezvous, the spirit of “Musical Night with Spectrum” will continue to resonate in the hearts of all people who participated in this extraordinary festive celebration.
27, Dec 2023
Air India Express Unveils Brand Sonic Identity with Festive and Middle Eastern Renditions Across Touchpoints
Air India Express launched its sonic identity across touchpoints, with a festive twist to its inflight music. The airline also revealed a Middle Eastern rendition, acknowledging the significance of its 13 destinations in the Gulf, its largest overseas market.
Bengaluru, 27th December 2023: Incorporating an auditory extension to its new brand experience, Air India Express infused a festive spirit in its signature sonic identity, infusing holiday vibes to its brand music in-flight. Alongside the festive addition, Air India Express also recorded a Middle Eastern version of its sonic identity.
The sonic identity of Air India Express was developed in a meticulous three-stage process originating with the brand’s distinctive personality of intuitiveness, style, accessibility, and warmth, while capturing the spirit of New India infused with optimism and confidence. The Air India Express sonic identity artfully embodies the brand essence depicting three distinct rasas of Indian classical music – karuna (empathy), adbhuta (wonder) and veera (valour). The sonic identity also incorporates a distinct take on the signature two-tone airline announcement ‘chime.’ The Christmas-themed sonic identity is designed to resonate with the holiday spirit, offering a unique and memorable sensory experience.
Talking about the brand sonic identity, Siddhartha Butalia, Chief Marketing Officer, Air India Express, said, “Travel is meant to be about new experiences and lasting memories, and music resonates emotionally with both a universality in the way we experience it as well as a cultural specificity. Like our brand, our sonic identity has been crafted to deliver a more holistic and memorable sensory experience. It encapsulates the essence the new Air India Express brand and positioning, embodying the ‘Explorer’ and the ‘Everyperson’ archetypes, and inviting travellers to ‘Fly as You Are’ with a more liberating travel experience empowered by digitally driven personalisation. Our brand identity is reflected in our vision to inspire new possibilities and make meaningful connections with unmatched Indian warmth. Like the unique patterns of India on the tail of every new aircraft we are inducting, our sonic identity reflects the rich heritage and tapestry of our culture while resonating the vibrancy and confidence of a progressive and pluralistic future.”
The sonic identity for Air India Express amalgamates the dynamism of exploration with the familiarity and accessibility that define the brand. Using the science of sound and the art of music, the sonic identity was developed in collaboration with BrandMusiq, a leading sonic branding firm in Asia. Certain scales or ragas were identified, such as ‘Raag Savitri,’ that express the brand’s ethos. These were incorporated with a fusion of traditional instruments such as the violin (South), sitar (Pan India), santoor (North), and flute (East), as well as rhythm instruments such as the ghatam (South) and tabla (North), and modern melodic instruments like the electric guitar and synth bass arpeggiator, with rhythmic instruments, including kick drums, snares, and hi-hats. The result is a homage to the rich cultural heritage of India, while its modern and futuristic vibe is very reflective of the New India. The Air India Experience sonic experience is designed to resonate the spirit of a young, vibrant, and forward-thinking India.
The Explorer avatar comes alive with the use of an Electric Guitar motif and Synth Bass Arpeggiator while the Everyperson avatar is brought alive with the use of the Sitar, Ghatam and Tabla. The dynamism, confidence, and optimism of the brand are expressed using a Synth Bass in combination with Kick and Snare Drums.
Taking inspiration from the Indian ‘Raag Savitri,’ which evokes feelings of upliftment and cheerfulness, the sonic identity of Air India Express is based on the dominant scale of Western music. The moving electric guitar motif and a synth bass arpeggiator were harnessed to express the airline’s adventurous, ‘Explorer’ personality. This was thoughtfully balanced by the sound of the ‘Everyperson,’ achieved using sitar, ghatam, and the tabla in the MOGOSCAPE®. The essence of karuna (empathy and understanding) was invoked through the melody, using the violin, santoor, and sitar. The combination of the synth bass arpeggiator with the drum and snare rhythm evokes the confidence and dynamism of the brand. The resulting melody is a beautiful fusion of Indian organic and modern Western instruments.
For the Middle East, Air India Express has thoughtfully adapted its sonic identity to resonate with the rich cultural nuances of the region. The Middle Eastern rendition of the sonic identity uniquely interprets sound as a unifying force between diverse regions, recognising music as a universal language. This adaptation incorporates distinctive instruments indigenous to the Middle East, such as Oud and Bağlama (string instruments), Darbuka and Mirwas (percussion instruments), Bouzouki (another string instrument), and Rebab (a traditional bowed string instrument). By infusing these authentic elements, the airline adds a captivating Middle Eastern flavour to its signature brand melody, reinforcing its commitment to cultural inclusivity and creating an auditory experience that resonates with the diverse communities it serves.
Air India Express is featuring various artistic renditions of its sonic identity in its brand launch film, brand manifesto audio-visual, in-flight and at various customer engagement platforms including in its website, contact centre and multilingual Chatbot Tia. The sonic identity is also available to download on its website airindiaexpress.com and in-flight exprience hub, AirFlix. The Sonic Identity System includes a MOGOSCAPE® (sonic palette), a MOGO® (musical logo), and a Mini-MOGO® (the signature two-tone airline announcement ‘chime’). The powerful auditory signature has been meticulously designed keeping in mind the profound impact of sound on human emotions and decision-making, to reinforce brand recognition and the association with an irresistible groove that mirrors the airline’s commitment to delivering a seamless and uplifting travel experience.
27, Dec 2023
Grand Finale of Smart India Hackathon 2023 concluded at Manipal Institute of Technology, MAHE
Bengaluru, December 27, 2023 – The Smart India Hackathon 2023 organized by the Ministry of Education, MoE’s Innovation cell and AICTE concluded with a grand ceremony. The grand finale of Smart India Hackathon 2023 has been an incredible journey, bringing together participants from all walks of life to showcase their skills and passion in the hardware field. Over the course of 5 days, contestants have demonstrated exceptional talent, showcasing their ingenuity and proficiency in the hardware field, pushing the boundaries of excellence, and impressing our esteemed panel of judges. A distinguished panel of judges, consisting of industry experts and leaders, have evaluated the finalists and determined the ultimate winners.
The event was graced by the presence of Dr. Vinod V. Thomas, Registrar Evaluation, MAHE, who delivered an inspiring address. During his speech, he emphasized that “Engineering being a team play, an opportunity for the minds to come together to solve the problems in our society and the SIH was looking for unique solutions from young generations.”. He also stressed on the fact that MAHE is producing such engineering as a vision of our Founder Dr T.M.A. Pai.
Cdr.( Dr.) Anil Rana, Director, MIT, Manipal, congratulated all participants for their determination and hard work, coming out of their comfort zones to participate in this big national-level event. He encouraged participants to continue with their spirit of innovation and creativity irrespective of the result while giving the example of TechShilla – a hub of major students project at MIT, Manipal, who besides failing several challenges continue working on their dreams.
Mr. Kamal Singh, Assistant Director (Sponsorship & Grants), AICTE, Delhi and appointed Nodal Center Head, expressed his feelings about the conduction of Smart India Hackathon 2023 by MIT, Manipal, and congratulated all participants of SIH 2023. While encouraging the participants, he suggested to make use of all the grants, scholarships provided by AICTE.
Participants, Jury, and mentors expressed their heartfelt gratitude towards the conduction of SIH event and all the facilities provided by MIT, Manipal such as accommodation, food, medicine, laboratories and equipment.
Dr. Sucheta Kolekar, Assistant Director (Innovation & Incubation) & Nodal Center head, MIT, Manipal, offered a vote of thanks to the Director, Joint Director, MIT, Manipal, undergraduate and research scholars who volunteered themselves for this big occasion. She also expressed gratitude towards all Organizing teams, Innovation Centre, Security staff, Food court staff, and wished all the participating teams good luck.
Dr. Cyril Joseph, SPOC, SIH 2023 announced the winners for each problem statement given by the State government and Central Ministry.
- SIH 1503 (Ministry of Ayush) – won by Team NIET Hacktastic six from Nehru Institute of Engineering & Technology, Coimbatore, Tamil Nadu.
- SIH 1327 (Government of Kerala) – won by Team Hexa Titans from Vivekanandha College of Engineering for Women (Autonomous), Tiruchengod, Tamil Nadu.
- SIH 1361 (Government of Gujarat) – won by Team Stimutech from KCG College of Technology, Chennai, Tamil Nadu.
- SIH 1323 (Government of Kerala) – won by Team STERI-SQUAD from Adamas University, Kolkata.
27, Dec 2023
Faculty of Management Studies inaugurates Conference on “Empowering Change
Faculty of Management Studies inaugurates Conference on “Empowering Change: Insights from Visionaries” Social Entrepreneurship
New Delhi, 27th December 2023: Social on Social in collaboration with Goonj and Faculty of Management Studies, University of Delhi, a premier B-school in the country inaugurated the conference on Empowering Change: Insights from Visionaries” Social Entrepreneurship at SP Jain Auditorium, South Campus Delhi University on 23rd December, 2023. The conference was graced by featuring Magsaysay Awardee Anshu Gupta, Founder, Goonj, Marketing Guru Prof. Harsh Verma, Faculty of Management Studies, University of Delhi (FMS) and the panel discussion was moderated by Mayank Singh, Senior Journalist from The New Indian Express. The event was managed by MBA (executive) & Health Care Administration students of FMS.
With the theme of “Empowering Change: Insights from Visionaries” Social Entrepreneurship”, this panel brings together esteemed personalities, practitioners, senior journalists and academicians in the management ecosystem to explore perspectives on Social Entrepreneurship, Business Start-up, and Business Management. The event was organized by the students of MBA (Executive) under the dynamic leadership of Tabrez Alam, Ankur Bansal, Satish Kumar, Rahul Joshi, Gaurav Kumar, Shilpa Jha and other volunteers of the MBA (executive) and Healthcare Administration students. The event started with a montage made by Shilpa Jha of MBA (Executive).
Anshu Gupta, has been the Founder Director at Goonj and Gram Swabhimaan is an Ashoka and Schwab Fellow and Magsaysay Awardee. He has created a mass movement by repositioning the last person as a champion of change, a contributor, and an equal participant with his wisdom, resources, and hard work. With his core philosophy imbibed in dignity and respect for recipients, he has successfully repositioned material; especially clothing, beyond the traditional perception of charity.
Speaking on the occasion, Nishant Verma, MBA (Executive), Faculty of Management Studies welcomed everyone to the panel discussion. He expressed his happiness about hosting the conference and highlighted that it will add more value and will create knowledge generations across various research spheres. In his address, he also spoke about How Social Entrepreneurship is Revolutionizing India and Changing the World.
Anshu Gupta, Founder Director at Goonj touched hearts of the audience with his stories and experiences that emphasised on How Social Entrepreneurs Are Changing the World and Return of Investment being the maximum in the field of social entrepreneurship and the RoI being happiness. Social Entrepreneurs are the torchbearers of hope and progress, redefining the role of business in society. He also discussed on the ways through which innovative thinking and business acumen can create positive and sustainable social or environmental impact.
Prof. Dr. Harsh V Verma shared his valuable insights on the topic, “How Social entrepreneurship seeks to redefine progress, introducing a broader perspective that considers the well-being of both people and the planet alongside profitability. He also emphasized the areas to focus ranging from social entrepreneurship that has evolved over time, reflecting the dynamic nature of this field. He focused on importance of public partnership and importance of change in the mentality of the social fabric.
Mayank Singh, Senior Journalist from The New Indian Express moderated the session and highlighted on the key aspects such as Implementation of social entrepreneurship entails both the micro- and macro-level. He sewed the entire panel discussion and provoked audience for a self manthan and made the session beautifully interactive.
The session was followed up by Q & A sessions. The conference ended on a positive note with cloth donation initiative in association with Goonj and an organ donation awareness camp was also organised by NOTTO. The event was followed by a plantation drive at the South Campus, Delhi University today on 23.12.2023.
The event was supported by SAIL’s Salem Stainless and presented Urban Flasks to the esteemed dignitaries and guests. The event was sponsored by National Mineral Development Corporation (NMDC Limited), Hindustan Petroleum Corporation Limited (HPCL), Manganese Ore India Limited (MOIL), National Building and Construction Company (NBCC Limited), National Thermal Power Corporation Limited (NTPC), GAIL (banner ad support), and IFFCO Nano Urea.
27, Dec 2023
Puneet Dhawan, SVP, Operations, Accor India & South Asia, Reflects on a Year of Exponential Growth
In a transformative and dynamic year, Accor has experienced unprecedented growth, reaffirming our commitment to delivering unparalleled hospitality experiences across India. Throughout 2023, Accor has achieved significant milestones, with key openings contributing a remarkable 860 rooms to our expanding portfolio. The inauguration of the 268-room Novotel Mumbai International Airport in January set the stage for a year marked by excellence.
Subsequent openings, including Ibis Mumbai Thane (186 rooms), Novotel Jodhpur ITI Centre (92 rooms), Ibis Styles Goa Vagator (142 rooms), Grand Mercure Agra (168 rooms) and Novotel Jaipur Convention Centre and Jaipur Exhibition & Convention Centre (222 rooms) have each played a vital role in enhancing Accor’s presence in key locations.
Adding to this list are upcoming launches, with Mercure Chandigarh scheduled to open its doors in 2024, offering 60 rooms to guests seeking a charming local-inspired experience.
Our commitment to growth is further emphasized by recent signings, such as the Grand Mercure Amritsar Airport Road (set to open in 2026), Mercure Lucknow (set to open in 2024), Mercure Rajahmundry City Centre (set to open in 2028), ibis Styles Mysuru (set to open in 2025), Grand Mercure Goa Candolim (set to open in 2024), and ibis Styles & Novotel Bengaluru Airport Varun (set to open in 2027). The signing of Pullman Amritsar (set to open in 2027) underscores our strategic expansion plans and reinforces our dedication to providing diverse and enriching experiences for our guests.
Looking ahead, Accor maintains a robust pipeline for the next two years, with plans to expand our presence in Bhopal, Indore, Bhubaneshwar, and Amritsar, bringing our portfolio of distinct brands to these dynamic cities. Overall, Accor is poised to open 30 new properties in the country in the next 3 to 5 years
Accor’s growth in India is a testament to our commitment to providing unparalleled hospitality experiences. We are thrilled with the accomplishments of 2023 and look forward to continuing this momentum, offering a diverse range of options to our guests and contributing to the vibrant hospitality landscape in India.
Our relentless pursuit of excellence, strategic signings, and ambitious expansion plans solidify our position as a key player in the Indian hospitality sector, promising an exciting and dynamic future for both our brand and our guests.
27, Dec 2023
Couture Runway Week Season 6 Leaves an Everlasting Impression on the Fashion Landscape”
The fashion world witnessed an extraordinary spectacle at the 6th Edition of Couture Runway Week (CRW) in December 2023. This premier fashion extravaganza, organized by CRW, surpassed all expectations, presenting a seamless fusion of creativity, innovation, and style.
Aarti Tiwari, the Managing Director of CRW, conveyed the team’s commitment to providing genuine business opportunities for showcasing designers. “Our team is dedicated to supporting brands in building networks and expanding business. The event garnered attention from investors, buyers, and fashion enthusiasts alike,” she stated.
The success of Couture Runway Week Season 6 was further heightened through strategic partnerships with leading institutions and designers. Collaborations included NeeShya Institute, Tatyam School of Design, Professional Mochi, SG Institute of Art & Design, Kalki Subramaniam, Harsha Nuthaki, Foot Fuel, Vastra Malamunde, Swastika Kreations, Model Creators, Ritu Sharma (founder of Ritual Vastara), Cancer Walk by Tayjaswni, IIFD : Indian Institute Of Fashion and Design, Designer Alok, ICF International College of Fashion, Chanchala Batra, House of Label Akanksha and Jatin, Brahmavadini, KARA, Holy Hock X Pehnav, RENEO by Wardan Mode and Minus Degre, The Front Row by Seema Kashyap, Shelly Couture, Maharani Collection X Pehnav, Sohum Attire.
The star-studded event featured showstopper Angela Khanna, BAngel by Pooja, and a captivating kids collection by House of Salil Kapoor. Notable designers such as Kara, Forever Naveen Kumar, Pearl Aggarwal, Prince Lahot, Sara Miraz Khan, AAD Institute, Ankita Goswami, Model Creators by Tushar Rajput, Jack Kumaq, Desi Colors, and Ankita Solanki showcased their exceptional talent. Felicitation partners included Jayan Trophy and Novelties.
Adding to the glamour were renowned brands like Jivora, Just Fashion, Vamsee, Pehnav, and Silk Land, contributing to the overall grandeur of the event.
The 6th Edition of Couture Runway Week went beyond being a mere fashion show; it evolved into an immersive experience celebrating the diversity, creativity, and craftsmanship of the fashion industry. The event has solidified its position as a platform that not only showcases fashion trends but also creates meaningful opportunities for designers and industry professionals.
