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SBI Mutual Fund to launch SBI Dividend Yield Fund

Pune, February 20, 2023: SBI Mutual Fund announced the launch of the SBI Dividend Yield Fund, an open-ended equity scheme investing predominantly in a well-diversified portfolio of equity and equity-related instruments of dividend-yielding companies. The new fund offer would open on February 20, 2023, and close on March 6, 2023. The first-tier benchmark of the fund is the NIFTY 500 TRI.

The investment objective of the scheme is to provide investors with opportunities for capital appreciation and/or dividend distribution by investing predominantly in a well-diversified portfolio of equity and equity-related instruments of dividend-yielding companies. This is proposed to be achieved by investing in businesses across market capitalization, being style agnostic with no sector bias, with attractive dividend yields plus potential growth in dividends, and aiming to achieve an aggregate dividend yield that is at least 50% higher than that of the Nifty 50 Index. The scheme will consider dividend-paying stocks that have paid dividends or repurchased shares in at least one of the previous three fiscal years.

Mr. Shamsher Singh, MD & CEO, of SBI Mutual Fund, said, “I am happy to announce the launch of SBI Dividend Yield Fund, an offering which provides investors a diversified mix of high and growing dividend yield companies. As the largest fund house in the country, we continue to add to our bouquet of offerings, and we believe this category has an opportunity to grow and find merit in investors’ portfolios.”

Mr. D P Singh, Deputy MD and Chief Business Officer, SBI Mutual Fund, said, “High Dividend Yield companies are generally thought of only from the angle of providing regular income, but many of them are strong growth-oriented businesses across market cap with the potential of long-term wealth creation. SBI Dividend Yield Fund presents an opportunity for those looking to invest in such strong businesses with steady cash flows for long term. Those who invest in direct equity, investors wanting long-term wealth creation, and even first-time mutual fund investors will find this fund suitable. Investors who want regular income can use the SWP (A) facility offered in this fund to plan regular tax-efficient cash flows’’.

Investors may opt for a tax-efficient way to receive regular cashflows by registering for SWP (A) Facility (subject to terms & conditions mentioned in the Scheme Information Document) which attracts capital gains as applicable for equity-oriented mutual funds. SWP (A) Facility is a customized facility offered to SBI Mutual Fund investors seeking regular cash flows in a quite simple and tax-efficient manner from their investments. All one has to do is select to withdraw a fixed % of their cost of investment or any specified amount to meet their regular cashflow needs from the various options available (monthly, quarterly, half-yearly, and yearly). SWP (A) facility can be opted for both in Growth and IDCW while the remaining corpus continues to earn returns.

The minimum application amount is Rs. 5,000 and in multiples of Rs. 1 thereafter. The scheme would invest between 65% – 100% of its assets in equity and equity-related instruments of dividend-yielding companies (including equity derivatives), up to 35% in other equity and equity-related instruments, up to 35% in debt securities (including securitized debt and debt derivatives) and up to 10% in units issued by REITs and InvITs. The scheme may seek investment opportunities in foreign securities including ADR/GDR/Foreign equity and overseas ETFs and debt securities subject to regulations that may not exceed 35% of the net assets of the scheme.

Mr. Rohit Shimpi, CFA, will be the fund manager of this scheme with Mr. Mohit Jain the dedicated fund manager for overseas securities. Rohit currently manages the SBI Magnum Equity ESG Fund and the equity portion of SBI Retirement Benefits Fund.

ELECRAMA 2023: 2nd Edition of ‘Women in Power’ Begins with an Astounding Response from Global Leaders

Hyderabad, 20th February 2023: Women empowerment dominated Day 2 of ELECRAMA 2023, the world’s largest electrical show of the Indian Electrical & Electronic Manufacturers’ Association (IEEMA), as the second edition of ‘Women in Power’ – a special initiative aimed at celebrating women in the power segment – got off to a spectacular start at the India Expo Mart, Greater Noida on 19th February.

This year’s Women in Power featured a series of engrossing and inspiring conversations from the leading ladies of the power sector across various domains including the likes of Ms. Lakshmi Singh, Police Commissioner, Gautam Budh Nagar,  Ms. Charu MathuDirector General, IEEMA, Aarya Satyanarayan Director of Venson Electric Private Limited and Chairperson Women in Power Committee of IEEMA, Renuka Gera Director (Industrial Systems and Products) Bharat Heavy Electricals Limited (BHEL and several other dignitaries.

Ms. Lakshmi Singh, Commissioner of Police, Gautam Budh Nagar, said, “In the modern world, gender inequality is recognized as a major constraint to economic growth. Thus, we’re witnessing accelerated efforts to promote women’s participation in leadership roles. When it comes to the power sector, the participation of women – especially in realizing the goals of a sustainable economy – remains pivotal. Since India is rapidly establishing itself as the new hub for sustainability, harnessing the power of women across roles in the energy sector is integral to realizing the country’s vision. Having participated in such a thought-provoking session at ELECRAMA 2023, I hope our ‘Women in Power’ pavilion promotes gender equality which, in turn, can boost innovation in the energy industry.”

Mr. Rohit Pathak, President of IEEMA, said, “Power and energy sector remains a major contributor to the economic growth and development of our country. With India being the world’s third-largest producer of electricity, the participation of women in the power sector needs to increase. As the energy sector moves towards innovative clean energy solutions to pave the way for a sustainable future, the industry can leverage the untapped talent pool of the highly-skilled women workforce by increasing employment opportunities for them. Our Women in Power initiative was conceived to fulfill that and more. This year’s edition will continue to bring forth the voices of global women leaders pertaining to their industrial experiences and journeys, inspiring others and increasing participation in the sector.”

Ms. Charu Mathur, Director General, IEEMA, said, “The last edition of ELECRAMA saw the introduction of the ‘Women in Power’ pavilion which was the much-needed stepping stone for the formation of the ‘Women in Power’ chapter in IEEMA. We’re now well-equipped and more structured to connect career-oriented women in Power and Energy with like-minded individuals to discuss and overcome challenges in the ever-changing work culture. This year’s edition of Women in Power will continue to deliver on its promise of bringing women leaders under one roof and giving them a platform to discuss workplace challenges for a better future. With this special initiative, we’re looking to inspire more women to choose the electricals and electronics industry as an attractive career choice in India.”

Aarya Satyanarayan Director of Venson Electric Private Limited and Chairperson, IEEMA WIP- said, “Today, gender equality remains an unfinished business in every country in the world, which is why companies should be more focused on employing more women starting with hiring more female students so that the talent stays in the industry. Along with this, I think creating a healthy and safe environment is also an important aspect of any company which will help maintain a work-life balance for women and foster an inclusive work culture. I am happy to see that ELECRAMA 2023 is focusing on such significant issues that India is facing today regarding women’s empowerment and I hope we all get to see the change soon.

Renuka Gera Director (Industrial Systems and Products) Bharat Heavy Electricals Limited (BHEL), said,’ I believe in today’s world, strength and power are not identified by gender. That’s why there is a greater emphasis being laid on gender equality with the promotion of women in leadership roles becoming the need of the hour. Recent studies also suggest that the Indian economy will grow by 25% with an increase in the participation of women. Additionally, 43% of women are contributing globally to the development. These are valid indicators of the influence highly-skilled women can have on contributing towards a sustainable economy.

ELECRAMA 2023, with ‘Reimagine Energy – For Sustainable Future’ as this year’s theme, will have the largest public showcase yet of industry innovations by over 1000 exhibitors from India and abroad occupying 1,10,000 sqm of exhibition space over the course of the next five days. The much-anticipated event is expected to witness 3,50,000 footfalls and over 15,000 pre-scheduled meetings between buyers and sellers. The mega event will also see national and international industry experts and policymakers deliberate upon industry challenges, innovations, and business models through a series of leadership summits and meetings.

Apart from ‘Women in Power’, the five-day congregation will also enthrall delegates with multiple concurrent events. It will also host the world’s largest confluence of power transmission and distribution communities at the 5th Reverse Buyers Sellers Meet (RBSM) and Domestic Buyers Sellers Meet (DBSM). The mega event will also be seen focusing on building stronger electrical systems for homes, offices, and industries, and discussing the way forward for the complete electrification of railways. Digital technologies, IoT and AI-powered electrical systems, and other smart-tech solutions are being showcased at the event.

Pinnacle Industries announces ‘EvolutioNARI’, the largest women-only recruitment campaign in the automotive space

Hyderabad, 20th February 2023: In a big push towards widening the pool of women workforce in the automotive manufacturing sector, Pinnacle Industries has announced one of the largest women-only recruitment campaigns christened as ‘Evolutionary’. Pinnacle Industries is India’s leading manufacturer of seating systems, automotive interiors, railway seating & specialty vehicles. This distinctive campaign aims to provide a platform for talented and experienced women professionals and engineers to reboot their professional journey who have taken a career sabbatical due to various reasons such as family commitments, relocation, or other pressing commitments. ‘EvolutioNARI’ recruitment campaign will offer them a chance to restart their career, polish their skills, gain new proficiencies, and help them reassimilate into the corporate culture enabling them to thrive in a supportive and diverse work environment.

The first recruitment drive will be conducted from 23rd to 24th February 2023 at the manufacturing facility of Pinnacle Industries in Pithampur, Madhya Pradesh. Interested female candidates can register and apply through https://pinnacleindustries.com/evolutionari-campaign/ or through QR Code available across Pinnacle Industries’ digital platforms, or walk in on 23rd or 24th February at the company’s Pithampur facility. The company encourages all women engineers and professionals who meet the job qualifications and requirements to apply, regardless of their career break duration.

Speaking on the launch of the women-only recruitment campaign, Mr. Arihant Mehta, President of Pinnacle Industries Limited, said “We are excited to launch “EvolutioNARI”, to promote gender diversity and inclusivity in the manufacturing, engineering, and automotive industry. We strongly believe that with the increased women talent pool, we will be able to create a more holistic and inclusive workplace, which is a strong growth driver for innovation, precision and outclass performance. We recognize that women’s talent continues to represent an underutilized resource, especially in the automotive & manufacturing sector. With this initiative, we are looking to gain a competitive advantage by hiring skilled women professionals looking to reboot their careers. By creating a workplace where women can thrive and contribute, we are confident that we will attract and retain the best engineering talent and continue to be at the forefront of our industry.”

To kick off, Pinnacle Industries is targeting to hire mechanical, electrical, and robotics women engineers with at least one year of experience. The company is also looking at hiring skilled professionals under R&D, Purchase, Tool, Operations, Tailoring, Stores, Administration, HR, and Finance functions. The company is also providing immediate joining to qualified women candidates with a reduced probation period and retention bonus.

Pinnacle Industries is known for its exceptional engineering solutions and cutting-edge technology and has been leading the commercial vehicles seating & interiors market for over 26 years. The company is confident that the women professionals and engineers hired through this recruitment campaign will bring fresh perspectives, inclusivity, creativity, renewed energy, and innovation to the table and help the company achieve its growth objectives.

Pinnacle Industries is committed to providing a supportive work environment and opportunities for professional growth. The company values diversity, equality, and inclusivity and believes that promoting these values can create a culture of excellence that benefits everyone.

5 IT firms offering emerging technology that businesses need to know in 2023

Huge economic and social benefits are presented by the new era of digitalization, but it also affects the form and scope of cyber risks and generates new vulnerabilities that threat actors might take advantage of. Leading international corporations and government agencies are being targeted nowadays. By 2025, the number of supply chain threats is predicted to rise by threefold from 2021 to affect 45% of businesses worldwide. It takes a data-centric approach to keep up with innovation, data accessibility, compliance monitoring, and data loss protection for organizations to safeguard their data. Data loss prevention (DLP) is crucial for preserving the privacy of a company’s most valuable resource. This technique enables data owners and security teams to advocate data loss prevention (DLP) with certainty within their organization.

Here are the top 5 IT companies providing cutting-edge technologies that businesses should be aware of in 2023:

Arete – Transforming the way businesses and government manage cyber risk through proven incident response, tech-enabled managed services, and powerful data insights. Working on the front lines of thousands of ransomware attacks and some of the largest nation-state attacks, their team combines hundreds of investigative, technical, and cyber risk management practitioners with best-in-class data and software engineers. They bring a relentless passion for innovation and a commitment to stopping cybercrime bring that same passion to positively impact the collective defense of businesses, governments, and infrastructure from cyber criminals and give back to the communities they serve.

Quick Heal – It is a global cybersecurity solutions provider. Its products are designed to manage IT security better across a wide range of platforms and devices. Its solutions can be tailored to fit the needs of consumers, small companies, governmental organizations, and corporate houses. The brand has spent 27 years concentrating its R&D on computer and network security solutions. Its current array of powerful machine learning-enabled solutions for cloud-based security thwarts threats, attacks, and malicious traffic before they happen.

Forescout – Delivers automated cybersecurity across the digital terrain. It is the only platform that provides complete coverage of the digital terrain by discovering, assessing and governing compliance of every connected device. Aimed at empowering their customers to achieve continuous alignment of security frameworks with their digital realities, across all asset types – IT, IoT, OT and IoMT, the company is on a non-stop journey, managing cyber risk through automation and data-powered insights.

Barracuda – It has been working towards making the world a safer place by delivering access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. It protects email, networks, data, and applications with innovative solutions that grow and adapt to our customer’s journey. More than 200,000 organizations worldwide trust Barracuda, the company claims.

Noventiq – It is a global solutions and services provider in digital transformation and cybersecurity, which has been headquartered and listed in London. The company enables, facilitates and accelerates digital transformation for its customers’ businesses, connecting 75,000+ organizations from all sectors with hundreds of best-in-class IT vendors alongside its own services and solutions.

Strengthening Indo-German Ties: Continental Hosts German Members of Parliament Delegation

Bengaluru, India, February 20, 2023. Technology company, Continental hosted a delegation comprising German members of parliament, in Bengaluru. The German delegation was received and welcomed by senior Continental India leadership, showcasing India as a growing market and innovation hub with a strong engineering talent pool for the global technology company. The delegation was organized by the India Office of the Konrad-Adenauer-Stiftung.

The delegation from Germany comprised
Mr. Thorsten Frei is a Member of Parliament, a lawyer, and the first Chief Whip of the CDU/CSU Parliamentary Group. From 2018 – 2021, he served as the Deputy Chairman of the CDU/CSU in the fields of Domestic and Judicial policy.

Dr. Hendrik Hoppenstedt, a Member of Parliament, is the former Minister of State for Bureaucracy Reduction and Federal-State Relations at the Federal Chancellery. He is a lawyer and Vice Chief Whip of the CDU/CSU Parliamentary Group. Since 2021, he has been serving as a Member of the Council of Elders and in the Conciliation Committee between the German Parliament and the Federal Council.

Mr. Stefan Müller, a Member of Parliament, and a banking specialist are the Vice Chief Whip of the CDU/CSU Parliamentary Group. Also since 2018, he has been a member of the parliamentary executive of the CSU state group.

Mr. Patrick Schnieder, Member of Parliament, is a lawyer and MP of the CDU who currently serves as a Chief Whip of the Parliamentary Group ‘Belgium-Luxembourg’ since 2022. From 2011 until 2018, Mr. Schnieder served as the General Secretary of the CDU in the Rhineland- Palatinate.

Kolkata Centre For Creativity In Association With EDC- EurAsia Dance Company To Present ‘OM-MANI-PADME-HUM’ & Svarupa & Vyakta’

What: World Premiere of the dance shows, ‘Om-Mani-Padme-Hum’ and ‘Svarupa & Vyakta’ by Stefano Fardelli.

Where: Kolkata Centre for Creativity, 777. Anandapur, E.M.Bypass, Kolkata – 700107

When: Saturday, 25th February 2023 & Sunday, 26th February 2023 from 6 p.m. to 8 p.m.

What to expect: This forthcoming weekend the people of the City of Joy are going to witness an outstanding World Premiere of the globally recognized dance shows, ‘Om-Mani-Padme-Hum’ and ‘Svarupa-Vyakta’ by Stefano Fardelli.

Both Om-Mani-Padme-Hum’ and ‘Svarupa & Vyakta’ are acclaimed works by the celebrated dancer, choreographer, and teacher, Stefano Fardelli. Through ‘Om Mani Padme Hum’ the artist is going to portray the history and rituals of the Tibetan Buddhists of the Yellow Hat Order with a particular connection to Shaolin monks. In this particular performance, the audience is going to view Umberto Gesi (Italy), Tejaswini Loundo (India), Marco Hernandez (Mexico), and Jesus Rea (Bolivia) on stage.

On the other hand, ‘Svarupa-Vyakta’ is an award-winning work by Stefano Fardelli. The dance will be presented before the viewers after the premiere of ‘Om Mani Padme Hum’. ‘Svarupa & Vyakta’ is influenced by Stefano’s visit to Varanasi whose vibrant culture and wonderful ambiance have made a lasting impression. The artist is going to highlight the same concept in this upcoming on-stage performance. ‘Svarupa-Vyakta’ will present the artists Marco Hernandez (Mexico) and Jesus Rea (Bolivia) illustrating before the audience.

Mr. Subhajit Sadhukhan, Executive Chef, The Crowne Plaza Pune City Centre

The Crowne Plaza Pune City Centre, an IHG hotel is delighted to announce the appointment of Subhajit Sadhukhan as the new Executive Chef.

With a meritorious experience of over 22 years, Subhajit has worked with renowned hospitality brands across the country including Hindustan International, Pride Hotel, Oakwood Worldwide, Hyatt Regency Kolkata, and Quality inn Golden Park. In his last assignment, Subhajit was associated with Hotel Hindusthan International as the executive chef. His strong foundation and seasoned experience in culinary operations as well as avant-garde gastronomy make him the perfect fit to spearhead the diverse food & beverage offerings at Crowne Plaza Pune City Centre.

Subhajit’s culinary expertise ranges from specialization in European, and Asian to North Indian cuisines. He is a master of curating exclusive food festivals and ensuring the highest standards of quality while keeping the food cost under the budget.

Subhajit has earned many accolades to his merit, including the award as a best team member from Times for Pre-opening for OGCC. He is also been awarded by HHI “Best Cost saver of the year 2015”.

When he is not strategizing or experimenting in his kitchen, Subhajit likes to take time off to work for the betterment of underprivileged children.

New Survey Reveals 67% of Indians Have Taken Personal Loans to Meet Fund Requirements, with 9% Taking Loans for Travel and Vacation: Saral Credit

Mumbai/ New Delhi, February 20, 2023: A new survey has been conducted by aral Credit, a fin-tech platform that makes getting a personal loan easy and quick, to understand the key behavioral drivers which are driving the Personal Loan product in India. The Personal Loan product offers access to timely funds for an eligible individual to meet short-term fund requirements without inquiring into the end use of the loan proceeds. This survey conducted with 512 respondents aims to provide insights into the factors that drive the growth of personal loan disbursals in India.

The survey results indicate that personal loans have witnessed a 46% growth in Originations (by value) from FY-2021 to FY-2022. According to the survey, 67% of respondents in India have taken a personal loan at some point in their lives to meet their fund requirements. The survey also revealed that 36% of respondents took a loan for home purchases or renovations, while 9% took personal loans for travel and vacation.

The interest rate remains the most critical factor for borrowers in choosing a loan provider, with 63% of respondents indicating that their decision to take a personal loan would be based on the charged interest rate. Additionally, 77% of respondents preferred to take personal loans from banks, while 14% preferred non-banking
financial institutions.

Milind Satpute, Director of Saral Credit said, “The Personal Loans market in India is experiencing a red-hot growth rate, and yet, until now, little has been done to truly understand customer behavior in this segment, which banks and NBFCs have traditionally dominated. That’s why the findings from the Personal Survey of 2023 are
so important. This survey squarely addresses the key questions everyone in the industry should ask: Why do customers take personal loans? What are the most important factors they consider when choosing a loan? Which channels do they prefer? At Saral Credit, we believe that the answers to these questions are crucial to unlocking the full potential of the Personal Loans market, and we’re excited to share the insights we’ve gained.”

The Personal Survey of 2023 sheds light on the increasing importance of creditworthiness in financial fitness, as individuals with a credit score regularly review their score and report. The survey also reveals that the majority of respondents are from the middle-class segment, with 91% of graduates and 78% of individuals earning above Rs 30,000.

Participation from both men and women is a good sign of inclusiveness and women’s independence. While loan amount, repayment period, and convenience are essential factors for borrowers, 30% of respondents find the Personal Loans process time-consuming, and 20% find it complicated. Another 16% of respondents
were unable to connect with the right provider.

According to the survey findings, the personal loans sector in India is experiencing significant growth, and borrowers are exhibiting a growing appreciation for the role of creditworthiness in obtaining such loans. Furthermore, the survey results indicate that the majority of respondents still prefer to get personal loans from banks, with the
the interest rate being the primary consideration in selecting a lender.