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Walk into this incredible Spring season in style with R CITY‘s ‘Spring Fiesta

Mumbai, 14th April 2023: The queen of all seasons, spring, is already here to allure you with the spirit of joy. To celebrate the flavor of the season, your favorite destination, R CITY has returned with yet another unforgettable shopping experience for its patrons – the grand ‘Spring Fiesta’ which will continue till the 23rd of April, 2023. So, get ready to shop your heart out as the mall is blooming with the latest Spring-Summer collection this season.

The one-of-a-kind event has exclusive offers across premium fashion brands namely H&M, GUESS, Mango, Nautica, Marks & Spencer, Vero Moda, Superdry, American Eagle, and ALDO, amongst others. Shoppers who shop for Rs 10,000 will get assured 10% cashback.

That’s not all! The visitors will be able to witness the majestic spring décor- an exuberant masterpiece that creates a perfect backdrop for that Insta-worthy click and will also set the mood for seasonal shopping. This larger-than-life art installation is an explosion of floral bloom in bright and vibrant colors – a perfect depiction of floral fantasy in mirrors and exotic florals to welcome the spring season.

So, what are you waiting for? Gather your friends and family and head to R CITY where you’ll experience the ultimate shopping adventure, filled with the latest fashion trends, exciting deals, and vibrant spring décor.

Innovative Ideas and Breakthroughs from NMIMS MPSTME Civil Engineering

Mumbai, 14th April 2023: The Civil Engineering department of NMIMS MPSTME has been making significant strides in the field of disaster management, flood resilience, and sustainable infrastructure. The department has published two patents, and research papers at international conferences, and completed several student-led projects on topics such as renewable energy, groundwater modeling, and self-healing concrete.

The first patent, ‘Automated Flood Water Regulating Multipurpose System,’ proposes a novel approach to flood resilience by constructing multipurpose wells on the banks of rivers to discharge excess water and generate hydropower. The second patent, ‘Aqua Barrier,’ is an automated machine that can protect any flood-prone area, regardless of its size, from any disasters caused due to water.

The student-led projects are equally impressive, with topics ranging from low-volume rural concrete roads to oscillating tidal wave energy converters. These projects showcase the department’s focus on sustainable infrastructure, renewable energy, and innovative design.

The faculty at NMIMS MPSTME Civil Engineering department, led by Head, Dr. Meenal Mategaonkar, and Research Coordinator, Dr. Jigisha Vashi, played a vital role in guiding and mentoring students toward research excellence. Their expertise and guidance have enabled students to participate and win awards in prestigious competitions such as the CDRI’s ‘Imagining Disaster Resilient Structures’ and The University of Queensland’s ‘Engineering Design Challenge, and AAKAR at IIT Bombay.’

The department’s success is further evidenced by the achievements of its students in national and international conferences. Students presented their research papers in Scopus Indexed papers and conferences such as the 9th Indian Young Geotechnical Engineering Conference and the Eighth Indian Young Geotechnical Conference.

Dr. Meenal Mategaonkar, Head of the Civil Engineering Department, MPSTME, NMIMS, said, “The achievements of the NMIMS MPSTME Civil Engineering department demonstrate its commitment to developing innovative solutions for complex problems in the field of civil engineering. The department’s focus on sustainable infrastructure, disaster resilience, and renewable energy is essential for addressing the challenges faced by society today. It is a testament to the hard work and dedication of both students and faculty and their commitment to excellence.”

Visit Mahakaleshwar Temple and Jyotirlingas in the heart of India

Ujjain – the temple town and one of the ancient cities of Madhya Pradesh is the most prominent spiritual attraction and the most sacred Lord Shiva temple in the country. Mahakaleshwar Temple is dedicated to Lord Shiva and is one of the most important and revered Hindu pilgrimage sites. It houses one of the 12 Jyotirlingas of Lord Shiva. The temple town is also home to the world’s largest religious gathering ‘Simhastha’(Kumbh Mela), which is held on the banks of the Sipra River once every 12 years. The last Simhastha took place in 2016 and the next will be held in 2028. Moreover the Bhasam Aarati at Mahakaleswar, Ujjain is the most popular in the whole world.

The Mahakaleshwar Temple is also known as Mahakal Mandir. It has a long and rich history that dates back to ancient times. Mahakala temple first comes into existence in the Pre-historic period. Puranas narrate that it was first established by Prajapita Brahma. The temple was later rebuilt by the legendary king Vikramaditya, who is said to have ruled the region in the 1st century BCE. Over the centuries, the temple has undergone many renovations and additions, with different rulers and dynasties leaving their mark on its architecture and design. The current structure of the temple is believed to have been built during the Maratha period in the 18th century.

The main attraction of the Mahakaleshwar Temple is the Jyotirlinga of Lord Shiva, which is believed to be one of the most powerful and sacred lingams. There are two meanings of the word – ‘Kaal’- Time & Death. According to beliefs Lord Shiva is the god of death and time, that is why he is called Mahakaleshwar. The Jyotirlinga is worshipped as a representation of Lord Shiva’s cosmic energy and creative power.

The glory of this Jyotirlinga has been vividly described in the Puranas, and believed that Lingam in Ujjain is ‘Swayambhu’. It is also known as ‘Dakshin Murti’ due to its south-facing feature. It is housed in the sanctum sanctorum of the temple, which is accessible to devotees only during specific hours of worship. The lingam is bathed in holy water and decorated with flowers and other offerings, as devotees offer their prayers and seek the blessings of Lord Shiva.

The temple has also been featured in several Bollywood films. The famous Bollywood film “Bajirao Mastani,” which was released in 2015, features a song that was shot at the temple. The song, “Deewani Mastani,” became a massive hit, and it helped to increase the popularity of the temple among the younger generation.

4 crore people visit Mahakal 40 million people visit the Mahakaleshwar Jyotirlinga throughout the year. After the construction of the Mahakal Corridor, about 90 thousand people come to Ujjain daily. Earlier this figure was up to 15
thousand. That is, after the construction of the Mahakal Corridor, more than 75 thousand devotees come for darshan. Around 1.5 lakh devotees visit Ujjain during the month of Shravan and various festivals. This year the figure is expected to increase as compared to last year.

Mahakal Corridor is a new attraction Last year in the month of October, Prime Minister Shri Narendra Modi inaugurated the Mahakal Corridor at the Mahakaleshwar Temple in Ujjain. The total length of this corridor is more than 900 meters surrounded by the old Rudra Sagar Lake. and it has two grand entrances through Nandi and Pinaki. There are a total of 108 pillars in this corridor. On which various postures of Lord Shiva ave been made. This corridor is decorated with beautiful lighting and sculptures. The country’s first night garden is also being built in the Mahakal corridor. Where around 200 idols related to Lord Shiva will be installed. It looks stunning at night in colorful lights.

What is the best equity-debt mix in a high-inflation for Retirement planning

By Ravi Singhal, CEO, GCL Broking

The earlier you start preparing and saving for retirement, the more potential you have to maximize your funds and meet your retirement objectives since retirement planning is a long drawn-out process. Your personal financial goals, risk tolerance, investment horizon, and the use of instruments that can produce returns that can outpace inflation should all be carefully considered when calculating the amount of money you will need to save in order to live your golden days.

The RBI hiked the repo rate by 25 basis points to 6.5% in its most recent monetary policy on February 8. Despite core inflation, which the RBI continues to find difficult to control, keeps India’s CPI over the 6% barrier. The annual consumer price inflation rate in India shrank mildly from 6.52% in January to 6.44% in February of 2023, and it continued to be above the Reserve Bank of India’s target of 2-6% for a second consecutive month. As a result, the majority of economists predicted a 25 bps uptick in the key repo rate, the rate at which the RBI lends to banks.

Individuals who are preparing for retirement in the high-inflation environment of today should allocate their funds wisely. Considering an equity-debt mix portfolio for retirement, individuals may contribute to mutual funds, Unit Linked Insurance Plans (ULIP), and the National Pension System (NPS). These instruments tend to generate long-term returns that outperform inflation. As the inflation rate is typically 6%, these instruments will provide you with positive returns consistent with your risk tolerance.

You should assume positive returns from these instruments depending on how much risk you can take. The CAGR for the Nifty 50 during the last ten years has been around 13%; over the past fifteen years, it has been 12.58%; and over the past twenty years, it has been 12.14%. Making a diverse portfolio of equity-related investments in the long term, such as mutual funds, stocks, and so forth, may provide you with long-term returns for your retirement. If you are a moderate investor, you can choose hybrid funds, solution-oriented funds, and multi-asset funds for your equity-debt mix portfolio. If your risk tolerance is higher, however, you can explore equity mutual funds because they have a 5-year CAGR record of above 16%.

The most popular equity-debt mix instruments are NPS and ULIPs since NPS has offered returns of over 10% in 10 years and over 13% in 5 years, while ULIPs have given up to 18% returns in 10 years. Apart from their long history of outperforming inflation in terms of returns, these 2 instruments are also eligible for tax benefits under Section 80C of the Income Tax Act of 1961. As a result, taxpayers who invest in these plans might save up to Rs 46,800 annually on taxation.

Small savings schemes like SCSS and PPF, as well as other fixed-income products like VPF, RBI Savings Bonds, Sovereign Gold Schemes, and fixed deposits, are available to investors with conservative risk profiles. Given the ongoing uptick in the repo rate, the majority of bank fixed deposit interest rates are now between 7 and 8.5%. On the other hand, the government has accelerated the interest rates on small savings programmes by as much as 70 basis points for the April–June 2023 quarter. As a result, using the above-recommended scheme, one can produce long-term returns that outperform inflation while also receiving favourable tax treatment.

Retirement planning can be made based on your age when it comes to having a mix of debt and equity in your portfolio. So, the term “asset allocation by age” suggests that you may determine your debt allocation by your current age. If you are 30 years old, 70% of your portfolio should be equity-oriented investments, and the other 30% should be allocated across debt funds and fixed-income securities. Start a systematic transfer plan (STP) to limit your exposure to equities in proportion to your growing age and provide a favourable risk-reward ratio during retirement to meet this recommendation. In order to meet your income or emergency needs, you can also use a systematic withdrawal plan (SWP) to withdraw units from your debt securities.

Investors should be aware that when relying on an equity-debt portfolio, equity investments have a higher risk but higher reward while debt securities offer security, carry lower risks but lower returns than equity, and stabilise the portfolio in a volatile market. Risk is the key difference between equity and debt funds; for example, equity has a moderately high to high-risk profile than the debt which holds a low to moderate risk profile. Debt funds invest primarily in debt and money market instruments, whereas equity funds invest primarily in shares of companies and related securities that trade on the stock market, hence equity exposure acts as a hedge against inflation and debt exposure enables liquidity to your portfolio and also acts as capital protection.

Fasal SBI partnership to financially empower farmers and accelerate the transformation of India’s horticulture ecosystem

Bengaluru, April 14th, 2023: Fasal, India’s leading horticulture-first, full-stack Agri-tech company, today announced its partnership with State Bank of India (SBI), aimed to provide farmers with easy access to capital. The partnership will help solve cash-flow constraints during key cycles in farming by providing quick, easy, and collateral-free loans at very competitive rates. This ties into Fasal’s larger objective of solving the many challenges across the entire horticulture value chain, thereby paving the way for India’s horticultural transformation.

In the 2023 budget, the government announced raising the agriculture credit target by 11% to ₹20 lakh crore for FY24. The launch of Fasal’s latest financing solution echoes the government’s focused efforts toward increasing financial support for farmers across the country. Through this financing solution, farmers can access collateral-free loans up to three lakhs. The goal is to enable farmers to effectively fund and manage urgent and immediate agri-input needs and adopt Fasal’s technology solution to make their farming precise and predictable. These loans will be disbursed under the Kisan Credit Card (KCC) scheme, well known for its lowest interest rate within the farmer credit support system. This latest offering from Fasal will be initially available in Maharashtra, Karnataka, Chhattisgarh, and Madhya Pradesh and later expand to other regions. Alternatively, if the farmer has already exhausted his/her KCC limit, SBI will enable these financing solutions through other Agri schemes.

Talking about the collaboration, Shantanu Pendsey, CGM, Agriculture Business Unit (ABU), State Bank of India, Corporate Centre, said, “We are pleased to partner with Fasal, a frontrunner in providing innovative solutions to the horticulture community. Through this collaborative effort, we will be able to reach out to more farmers across India and offer them timely as well as easy access to financial support. We look forward to working with the Fasal team to financially empower farmers in India.”

Commenting on the partnership, Shailendra Tiwari, Founder of Fasal, said, “Access to quick, easy and low-cost financial support to farmers, as well as horticulturists, will be key as we work to make horticulture a main focus in the country. With SBI’s support and their extensive nationwide network in rural areas, we are confident that we can positively impact farmers by providing better access to credit and consequently, bring precision farming to a lot more farmers.”

Fasal is leveraging technology to transform the main touchpoints within the horticultural ecosystem, right from input to output. Today, Fasal works with Indian farmers on over 60,000 acres across 20+ crops. Through its patented farm-level IoT-driven crop intelligence system, Fasal has been making horticulture farming guesswork-free with advanced irrigation alerts, farm-level micro-climatic forecasts, and pest/disease forewarnings. The company also recently launched Fasal Fresh, a national procurement network, aimed to ensure fair pricing, streamlined processes, and access to high-quality produce. Fasal Fresh connects farmers, retailers/sellers/partners, and end-consumers by ensuring traceability and transparency throughout the process.

Shailendra also added, “We want to provide solutions in a more holistic manner across the entire horticulture value chain. This partnership with SBI is yet another step in our collective effort to deliver comprehensive solutions to farmers in India.”

From addressing the many supply chain woes to providing access to funds and cutting-edge technology, Fasal empowers farmers to make informed decisions and achieve better yields. With plans to expand this financing solution beyond the initial four states, Fasal is committed to driving positive change by helping farmers grow more, grow better and sell better.

India Energy Storage Alliance to address the pressing issue of the gender gap in clean tech and green energy space

New Delhi; 14.04.2023: The Indian energy sector is undergoing a massive transformation towards a clener and more sustainable future, and IESA believes that women have a critical role to play in driving this transition. The G20 EMPOWER 2023 under India’s presidency is prioritizing the shift from women’s development to women-led development. With a mission to ‘Empower Women, Empower the Energy Sector’, India Energy Storage Alliance (IESA) will announce its ‘Women in Energy’ initiative at IESW 2023, to address the apparent gender gap in the energy sector. The initiative aims  at promoting the inclusion of women in shaping the future of the clean tech and green energy sector.

Gender disparity in the energy sector remains a harsh reality, with only one in five leadership roles in the industry held by women, according to the World Economic Forum’s Global Gender Gap Report 2022. In an effort to address this pressing issue, the India Energy Storage Alliance (IESA) has created a unique platform for women in the industry to connect, collaborate and support each other. Commenting on the initiative, Dr. Rahul Walawalkar, President of India Energy Storage Alliance (IESA) & Customized Energy Solutions India, said: “India is utilizing the G20 Presidency for bringing together global cooperation for sustainable growth and has brought focus on women-led inclusive development agenda. The underrepresentation of women in the field of new energies, and the various barriers to entry and growth, are issues that need deliberation. The energy sector needs diverse perspectives, innovative ideas, and a more inclusive approach to decision-making, to thrive in the rapidly evolving market. We believe that the energy transition should have equal opportunities for both men and women. At IESW 2023, we are committed to enabling women and promoting their participation in the energy sector.”

The Indian government has also taken various initiatives to encourage the participation of women in the energy industry. The Women’s Empowerment Scheme, for instance, aims to provide skill development and training programs for women in the renewable energy sector. The Ministry of New and Renewable Energy launched the Women of Renewable Energy (WRE) program to promote the participation of women in the sector.

Emphasizing on the intent of the initiative, Ashok Thakur, Director of Strategic Initiatives, Customised Energy Solutions (CES) said, “Women in Energy at IESW will set the context for successive meetings and knowledge-sharing paving the way for a new transition process that the future holds for women in the energy space. This will also offer a unique opportunity for women

leaders, entrepreneurs, and professionals from the energy storage and clean technology sector to showcase their achievements and contributions.”

The IESW 2023 will feature exclusive Women in Energy Summit that will bring together prominent women leaders, policymakers, and experts to discuss key issues related to gender diversity in the energy sector. The platform is expected to create a robust ecosystem that nurtures equality in gender inclusion, and enables women to open new doors of success and change. Women in Energy is a great opportunity to promote the achievements of women in the energy sector and to recognize the contributions they make to a more sustainable future.

Muthoottu Royal Gold rolls out Lord Krishna gold coins for Vishu

Kochi, April 14, 2023: Muthoottu Royal Gold, one of the group companies of M Mathew Muthoottu Group, rolled out its 24-carat gold coins featuring Lord Krishna on the occasion of Vishu, the spring festival in Kerala which marks the first day of the astronomical year.

The coins were unveiled by Dr. V.K Vijayan, Chairman, Guruvayoor Devaswom at Guruvayoor Temple, and Mr. Mathew Muthoottu, Managing Director of Muthoottu Mini Financiers Ltd (MMFL) in the presence of dignitaries, including Mr. PE Mathai, CEO of MMFL, Padma Shri Dr. Sundar Menon, President of Thiruvambadi Devaswom, Trissur, Mr. C. Manoj, Member of Guruvayoor Devaswom, Mr. Vijayakumar Menon K, Senior Accountant, Income Tax Office, Trissur, Mr. Jisson Thomas, Associate Vice President of Muthoottu Royal Gold, and Mr. Sanal Kumar, Zonal Manager of MMFL.

The coin is themed around Lord Krishna as the god is famously worshipped during Vishu. It is available in three variants: 0.5gm, 1gm, and 2gm, and features a 3D figure of baby Lord Krishna relishing butter, showcasing a unique story that captures the essence of the god’s divine playfulness. Each coin is packaged in a special tamper-proof blister package in the shape of a banyan leaf.

Speaking on the occasion, Mr. Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers, said, “We are excited to launch these unique Lord Krishna coins on the occasion of Vishu, also known as the festival of lights and prosperity. Based on a timeless local belief that wealth that is shared with others will multiply in abundance, Vishu celebrates the tradition of ‘Kaineetam’, which is revering of coins and currency notes. With the launch of these coins we intend to engage deeply with our customers and be an integral part of their festivals. The coins also represent our commitment to preserving and promoting the rich Indian art and culture, and we hope they become a cherished possession for our customers.”

Mr. PE Mathai, CEO, of Muthoottu Mini Financiers, added, “The launch of Lord Krishna coins on the auspicious occasion of Vishu is a testament to MMFL’s commitment to promoting the state’s rich cultural heritage. We are excited to offer our customers a unique and valuable product that celebrates the spirit of Vishu and hope that these Lord Krishna coins become a much-valued possession for our customers and stand for years to come as a symbol of their faith and prosperity.”

Customers can purchase the Lord Krishna coins either by visiting their nearest Mini Muthoottu Financiers branch or by buying them online on the company’s website, www.muthootturoyalgold.com.

Whitefield to see 8-10% rise in rentals in next two years led by increased demand due to enhanced metro connectivity

Gurgaon, 14 April 2023: With the Baiyappanahalli-Whitefield metro project likely to be fully operational by mid-year, rentals of office spaces in Whitefield are likely to go up by about 8-10% over the next two years, as per Colliers’ latest report “Bengaluru Metro Rail: Key office market impact”. The growth in rentals will also hinge upon the overall occupier demand, macroeconomic factors etc. The metro line towards Whitefield, which became partially operational in March 2023, has been one of the most anticipated lines in the city as it will connect the technology hub of Whitefield to the rest of the city.

Whitefield, the second largest office market in Bengaluru, has an office stock of about 40.4 million sq feet, with vacancy levels hovering around 17.2% as of Q4 2022. However, the metro project is likely to boost occupier activity in the region, with enhanced accessibility and reduced commute time.

Arpit Mehrotra, Managing Director, Office Services – South India & Head of Flex | India said: “Metro’s enhanced connectivity can foster the growth of offices in key locations. Improved connectivity, such as efficient and reliable public transportation options, can attract more businesses to set up offices in previously inaccessible or inconvenient to reach. With better connectivity, companies can benefit from a larger pool of potential employees who can commute to their offices easily and efficiently. This, in turn, can lead to a more diverse and skilled workforce, enhancing productivity and innovation. Moreover, better connectivity can also help businesses reduce operational costs, particularly in transportation and logistics. By having easy access to public transportation, companies can reduce their reliance on private vehicles and streamline their transportation and logistics operations.”

The report tracks the progress in the construction of the metro project at different stages alongside its impact on the commercial office segment. It deep dives into how Whitefield and CBD markets have witnessed a steady rise in office supply as well as leasing over the years, as the metro work has progressed. The report highlights that the average annual supply in Whitefield rose by 10% during 2017-22, as the construction of the metro project began when compared to the 2011-16 period. Gross leasing in Whitefield rose 18% during the metro construction stage (2017-22) compared to the planning stage (2011-16).

In CBD, over the last 12 years from the time of the metro project construction, about 64% of total leasing has happened during the Metro operation stage (2017-22). Moreover, the office supply in the CBD rose more than 4 times during the operation stage (2017-22), led by the expected improved connectivity of the metro.

“Bengaluru CBD has undergone a transformation through building upgradations, redevelopments and change in land uses since the metro work commenced. This has spurred occupier activity in the area, leading to a 79% increase in leasing during 2017-22 as compared to the preceding 6-year period. Today, CBD market is experiencing low vacancy levels at 3.2%, despite increased supply, indicating occupiers’ need to be centrally located with superior connectivity. Metro project has undoubtedly transformed the office market of CBD and will positively impact the Whitefield market as well in next 2-3 years as Baiyappanahalli – Whitefield metro begins operations.” says Vimal Nadar, Senior Director and Head of Research, Colliers India.

“Overall, improved connectivity can create a virtuous cycle of economic growth, where more businesses set up offices in key locations, leading to more job opportunities and a more robust local economy,” added Mehrotra.

Average annual leasing and supply in Whitefield (million sq ft)

Source: Colliers

*Planning Stage is the period between project approval and commencement of civil work that includes project formulation and pre-construction activities such as land acquisition, geotechnical surveys, etc.

Gross absorption: does not include lease renewals, pre-commitments and deals where only a letter of Intent has been signed.

Data pertains to Grade A buildings

 Flex space to see increased activity in Whitefield

Over the years, while demand for flex space has skyrocketed in the city, the expansion of flex players has been limited in Whitefield due to its limited connectivity with other parts of the city. For instance, during 2022, while flex space contributed to 13% of the total leasing of city, it accounted for only 2% of the total leasing of Whitefield. However, once metro gets fully operational in Whitefield in 2023, flex operators are likely to strengthen their presence in the market. As occupiers look at decentralized working, Whitefield has numerous advantages for flex spaces, ranging from:

1.  Established residential catchment in the form of the presence of young IT professionals and ex-pats
2.  Seamless connectivity to other parts of the city once the metro is operational
3.  Presence of Grade A office projects
4.  Competitive rentals

Hence, we expect Whitefield to cater to the spillover demand from Outer Ring Road and to become a preferred office location once the connectivity to central Bengaluru gets enhanced.