Category Archives: Business

Reinvigorating India’s Ghost Shopping Centres can unlock INR 357 Cr in annual rentals: Knight Frank India

Mumbai, Dece 9: Knight Frank India today released its flagship retail study, Think India, Think Retail 2025 Value Capture: Unlocking Potential, presenting the most extensive mapping of the country’s retail real estate across 32 cities. A significant finding of the report is that nearly one-fifth of India’s operational shopping centres fall into the category of ‘Ghost Malls’ assets marked by high vacancies, weak tenant curation, ageing infrastructure, and declining relevance. Across 365 shopping centres surveyed, 74 have been classified as ghost assets, representing 15.5 million square feet (mn sq ft) of dormant retail potential. Within this pool, 15 centres with a combined area of 4.8 mn sq ft have been identified as high-potential assets that could deliver as much as INR 357 crore (cr) in annual rental revenues if reinvigorated effectively. Of the 15 shortlisted assets with clear reinvigoration potential, Tier 1 cities hold an opportunity of INR 236 crore in annual rentals, while Tier 2 cities add another INR 121 cr to the reinvigoration landscape.

The study reveals that the ghost mall challenge is not confined to smaller cities or emerging markets. Tier 1 cities account for 11.9 mn sq ft of this dormant stock, indicating that even some of the country’s earliest and most established malls have struggled to keep pace with changing consumer expectations, shifting brand strategies, and the evolution of modern, experience-led retail formats. Tier 2 cities contribute the remaining 3.6 mn sq ft, where operational inefficiencies, inconsistent management practices, and limited anchor presence have restrained shopping centres from reaching their full potential. 

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said,

“India’s retail sector is entering a defining phase of growth, supported by strong consumption and a clear shift toward high-quality organised retail formats. Our analysis shows that reinvigorating 4.8 mn sq ft of dormant mall stock could unlock INR 357 cr in annual rentals, which is a substantial opportunity for developers and investors. With Grade A malls operating at only 5.7 percent vacancy and several Tier 2 cities demonstrating strong absorption trends, the sector is exceptionally well placed for future expansion. As consumer demand evolves and brands scale their footprint, revitalising older centres through redevelopment or adaptive reuse will play a pivotal role in shaping the next chapter of India’s retail transformation.”

Identifying ghost shopping centres is essential to unlocking viable reinvigoration opportunities. High vacancies, unstable tenant mixes, outdated layouts, and weak or missing anchor tenants are the clearest signals of an underperforming asset. Grade C malls and older developments, particularly in peripheral locations, are most vulnerable to obsolescence unless repositioned as community hubs, co-working spaces, or mixed-use developments.

Tier 1 cities are beginning to see a decline in ghost shopping centres as redevelopment, new ownership models, design upgrades, and alternate-use conversions bring ageing assets back to life. With rising flexible workspace demand and evolving retail formats, dormant centres are finding renewed relevance. While Grade A malls continue to outperform and lower-grade assets struggle, tightening quality supply is shifting attention to these revitalise-able centres. With focused interventions, improved management, and curated leasing, ghost malls can be repurposed into viable, future-ready assets that support the next phase of India’s retail growth.

Of the 365 shopping centres across the top 32 cities, 74 are classified as ghost malls. Within this group, immediate opportunity lies in the 15 centres which alone have the potential to unlock INR 357 cr in annual rentals by reinvigorating 4.8 mn sq ft of dormant space. 

Tier 1 cities offer two-thirds of immediate potential to generate a rental revenue of INR 236 cr, and Tier 2 cities comprises the remaining one third with INR 121 cr rental revenue. Reviving distressed centres, often at a lower cost than new builds, can rapidly yield healthy, value-added cashflows. 

India’s dormant retail infrastructure shows strong reinvigoration potential, especially in ageing but well-located shopping centres. Of the 74 ghost malls identified, 44% lie in the West, aligning with both favourable catchments and revenue potential. The West and South together contribute 77% of the estimated rental opportunity, while the Top 8 metros account for 66% of the INR 357 cr annual potential for 2025. Further, a rental yield of 5.86% makes reinvigoration a compelling investment. With improving connectivity and a shift toward experience-led, mixed-use development, revitalising dormant retail assets is set to drive the next wave of growth.

India’s retail real estate is becoming increasingly polarised. While Grade A malls record high occupancy, strong footfalls, and robust brand mixes, ageing and poorly designed centres from the early 2,000s face declining relevance due to structural flaws, weak catchment planning, outdated formats, and anchor tenant exits. Vacancy across 32 cities stands at 15.4%, yet the real challenge is a shortage of quality space, especially in Tier 2 cities. This gap creates a strong opportunity to revitalise dormant malls through design upgrades, tenant remixing, and alternate-use conversions. Success depends on accurate diagnosis and disciplined execution backed by strong design and management. 

In contrast, markets with ageing malls, fragmented ownership, or design inefficiencies demonstrate higher vacancy levels and weaker brand penetration. The analysis shows that vacancy across all shopping centres in the 32 cities stands at 15.4%, but this headline number masks a clear structural divide: Grade A centres enjoy single-digit vacancies driven by steady demand and robust performance, whereas Grade C assets experience vacancies as high as 36%. High streets in many cities continue to thrive, driven largely by Indian brands, while airports maintain a strong mix of premium international and domestic retailers. Overall, the Retail Pulse points to a market where demand is strong, consumer aspirations continue to rise, and the most significant opportunity lies in expanding and upgrading quality retail infrastructure to keep pace with evolving expectations.

Shopping Centre Performances across Cities

Across 32 Indian cities, the report reveals a dynamic, yet uneven retail landscape defined by strong demand for quality spaces and widening disparities between Grade A and lower-grade centres. Tier 1 cities account for 73% of India’s shopping centre stock, but several Tier 2 cities such as Mysuru, Vijayawada, Vadodara, Thiruvananthapuram, and Visakhapatnam have performed remarkably with near-full occupancy and balanced tenant mixes, highlighting growing appetite for organised retail beyond metros. 

High performing Markets based on Vacancy 

A handful of cities clearly outperform the rest on key metrics like vacancy. These high achievers generally have retail supply well calibrated to demand, and benefit from proactive centre management. Shopping centres in such cities operate near full capacity and enjoy healthy tenant mixes.

• Mysuru (vacancy ~2%) – A tightly supplied market with very limited organised retail space. The scarcity of shopping centres relative to demand ensures that any quality centre attracts strong footfalls and remains almost fully occupied.
• Vijayawada (vacancy ~4%) and Vadodara (~5%) – Both are mid-sized cities with steady growth in consumer spends, yet new retail supply has been introduced cautiously. This equilibrium means the existing shopping centres face less competition, keeping vacancies low and retailer interest high.
• Thiruvananthapuram (~6%) and Visakhapatnam (~6%) – Southern India’s rising retail stars, where robust consumer demand meets a new generation of well-managed shopping centres. These cities have benefited from avoiding overbuilding; each new centre has strong anchors and caters to an eager customer base, resulting in consistently high occupancy.

Underperforming Markets based on Vacancy

At the other end of the spectrum, several cities struggle with significant vacant retail space and underutilised shopping centres. The causes range from oversupply and poor planning to operational issues and changing market dynamics:

• Nagpur (vacancy ~49%) – Nearly half of this city’s shopping centre space lies empty. A spate of development in anticipation of future demand overshot what Nagpur’s consumer base could absorb. Excess capacity, combined with only modest growth in retailer interest, has led to centres that never achieved critical mass and languish with high vacancies.
• Amritsar (~41%) and Jalandhar (~34%) – In these cities of Punjab, developers built too many shopping centres in proximity, outpacing the depth of viable retail tenants. Though consumer appetite exists, when multiple large centres compete for the same set of brands, none can sustain healthy occupancy. The result has been chronically half-empty properties as retailers cherry-pick only the top-performing locations. 

Retail Density

Shopping centre density varies sharply, with cities like Mangaluru (1,521) and Lucknow (1,230) showing high penetration, while Pune (1,103) and Bengaluru (1,031) also reflect strong modern retail presence. In contrast, Surat (118) and Ludhiana (218) have limited mall infrastructure, where traditional formats dominate. Among metros, Mumbai and NCR benefit more from sheer market size than density, while Chennai and Hyderabad exhibit mid-level penetration. These contrasts highlight varied levels of market maturity and distinct opportunities for future retail expansion. 

Brand Mix 

Across India’s retail landscape, the mix of international and national brands differs sharply by format, revealing how each environment caters to distinct shopper expectations. Shopping centres offer the most balanced and globally attuned mix, with Indian brands accounting for 67% of the tenant universe and international brands contributing a significant 33%. This makes malls the primary gateways for global retailers entering India. High streets, by contrast, remain deeply rooted in domestic retail culture, with an overwhelming 86% share of Indian brands and only 14% international presence, reflecting their legacy-driven appeal and hyper-local relevance. Airports occupy a unique middle ground with 70% of brands here are Indian, while 30% are international, a ratio shaped by the affluent, captive traveller base that favours premium and global labels alongside established local favourites. Together, these contrasts demonstrate that while shopping centres and airports are driving international brand penetration across the country, high streets continue to champion India’s homegrown retail strength

Cloudera FSI Customers Win at IDC Future Enterprise Awards 2025

India, Dec 9:-Cloudera, the only company bringing AI to data anywhere, today announced that its customers, Taipei Fubon Commercial Bank and Axis Bank, have been named winners in the IDC Future Enterprise Awards 2025. These wins reflect the region’s accelerating shift toward AI-powered operations and reinforce Cloudera’s role as a trusted partner, enabling organizations to harness governed, scalable, and hybrid data capabilities for real-world impact.

“Cloudera is proud to support Taipei Fubon Commercial Bank and Axis Bank in their AI and data transformation journeys” says Remus Lim, Senior Vice President, Asia Pacific & Japan, Cloudera. “Their achievements at this year’s IDC Future Enterprise Awards demonstrate how a strong, governed, and hybrid data foundation enables organizations to build enterprise AI that delivers measurable business outcomes. We congratulate the winners for setting new benchmarks in innovation across the region.”

Taipei Fubon Commercial Bank Wins “Best in Digital Innovation” for Full-Product Recommendation and Optimal Contact Time Model

Taipei Fubon Commercial Bank has transformed its customer engagement strategy by replacing rule-based marketing with a fully AI-powered personalization engine. Powered by two advanced machine learning models the Full-Product Recommendation Model and the Optimal Contact Time Model  the bank delivers hyper-personalized, real-time offers embedded directly into digital and telemarketing workflows. This AI-driven approach has resulted in a 2.4× increase in conversion rates, a 1.3× uplift in engagement, and reduced operational waste across channels.

“Personalization is a key differentiator for the future of financial services, and AI is enabling us to engage customers with far greater precision and relevance,” says a spokesperson from Taipei Fubon Bank. “By combining product recommendation intelligence with optimal engagement timing, we have transformed the way we connect with our customers across channels. This award from IDC is a meaningful recognition of our team’s ability to apply machine learning creatively and responsibly to deliver better outcomes, higher engagement, and more seamless customer experiences.”

“Fubon Bank’s dual-model strategy reflects a shift toward intelligence-led marketing, where relevance and timing are optimized simultaneously. It’s a data-driven approach to engagement that measurably improves conversion and reduces friction,” says Daniel-Zoe Jimenez, Vice President, Digital Innovation, IDC Asia/Pacific. “The impact metrics—2.4× lift in conversion and reduced waste point to a maturing AI capability that aligns business goals with intelligent automation. It’s an example of how data science can be translated into everyday marketing decisions.”

Axis Bank Wins “Special Award for Customer Experience” for AI-Driven Personalization at Scale

Axis Bank has transformed customer engagement for over 50 million customers by building an AI-powered personalization engine on Cloudera’s anywhere cloud platform on AWS. The system analyzes more than 2,000 attributes per customer daily and generates 17,000+ personalized nudge variants across nine channels, including WhatsApp, email, push notifications, and Relationship Manager-assisted engagement.

This initiative has delivered measurable impact:

• 45% of term deposits now originate from personalized nudges
• 70% of instant credit card loans booked via nudges
• 10% uplift in personal loan campaign effectiveness
• 1.5× increase in BillPay registrations through experimentation-driven optimization

“At Axis Bank, delivering meaningful and timely customer experiences is at the heart of our digital transformation,” says Balaji Narayanamurthy, President & Head of Business Intelligence Unit at Axis Bank. “Through our personalization engine built on Cloudera’s platform, we’ve moved beyond traditional segmentation to real-time, AI-powered engagement that reflects each customer’s needs and behaviors. This shift has helped us deepen relationships, increase product relevance, and elevate satisfaction across millions of interactions daily. Our customer-first strategy is not just about using data it’s about turning insight into action to create seamless journeys that build long-term trust and value.”

“Axis Bank’s customer engagement transformation shows how scaled personalization, driven by AI and deep behavioral insight, can move the needle on both experience and conversion. The combination of a robust data foundation and intelligent decisioning models demonstrates maturity in applying AI across complex customer journeys,” says Dhiraj Badgujar, Senior Research Manager, IDC Asia/Pacific.

HEED Unveils India’s First Additively Manufactured  Electric Hydrojet Propulsion System 

Mysuru, Dec 09: HEED, a marine deep tech homegrown startup focused on clean  and accessible water mobility, proudly unveils India’s first additive-manufactured  electric hydrojet propulsion system. Designed, developed, and tested entirely in house in the royal city of Mysuru, this venture marks a significant step in India’s  

In its initial phase, HEED is applying its hydrojet propulsion system to the  recreational watercraft segment, developing fully electric jetboards that  combine performance with forward-looking design and clean propulsion. With this  foundation, the company aims to deliver accessible, clean-powered products that  can set new benchmarks in personal water mobility.

The hydrojet propulsion system is 100% electric and optimised for efficiency  across India’s diverse water conditions. While the current focus is on recreational  use, the system has the potential to power a wider range of future  applications, including performance vessels, passenger transport, and even defence and cargo solutions, positioning HEED as a foundational player in the  country’s long-term ambitious blue economy goals. Engineered in India 

The propulsion unit is supported by a dynamic test bench and sensory system,  both developed entirely in-house. This test setup enables high-fidelity performance  assessments and real-time data collection. With a payload capacity of up to  1000kg and force measurement capabilities reaching 500KgF (equivalent to  5000N or 5kN), the platform ensures the propulsion system can be precisely  tuned and validated under realistic load conditions.  In perspective: Successfully conducted first aquatic test 

Why It Matters 

This business initiative is a significant step toward strengthening India’s capabilities  in designing and building next-generation watercraft. Rooted in Mysuru, HEED  demonstrates what is achievable when performance engineering, local talent, and  electric mobility intersect. As a deep tech venture, the company combines  advanced hardware innovation and systems engineering to tackle complex  challenges in water mobility.

The commitment to in-house development, local sourcing, and domestic assembly  reflects a broader vision of economic self-reliance and technical excellence in  India’s blue economy. 

Impact Potential: 

As one of the first Indian companies to focus exclusively on electric hydrojet  propulsion, HEED is uniquely positioned to help shape India’s future in maritime  transport. While recreational watercraft remain the core priority today, the  foundational technology being built has the potential to scale into multiple sectors  as the company grows.

Colliers Secures Full Ownership of India Business to Accelerate Growth and Market Leadership

Gurgaon, Dec 09: Colliers, a leading diversified professional services and investment management company, today announced that it has acquired 100% ownership of its business in India. This strategic milestone underscores Colliers’ confidence in the Indian market and its commitment to driving accelerated growth in one of the world’s most dynamic and fast paced real estate landscapes.

India is a key growth engine for Colliers globally, and this move positions the firm to deepen client relationships, invest in talent and technology, and build market-leading capabilities across all service lines. With new leadership in place, Colliers India is entering a transformative chapter aligned with the company’s vision, focused on innovation, sustainability, and delivering exceptional outcomes for clients.

“The Colliers India business is recognized and strongly supported by the firm’s global platform for its ambitious vision and strategic importance,” said Badal Yagnik, Chief Executive Officer & Managing Director, Colliers India. “Our ambition for Colliers India is bold, we are investing in our people, platforms, and capabilities to set new benchmarks for excellence. Our focus is on delivering innovative solutions, strengthening client partnerships, and creating long-term value for all stakeholders.”

Looking ahead, Colliers aims to unlock new opportunities by combining global expertise with deep local insights, driving sustainable growth, and reinforcing its position as the most trusted advisor in India’s real estate sector.

McCann crafts AU Small Finance Bank’s new Brand Campaign, featuring Ranbir Kapoor & Rashmika Mandanna

Hyderabad, Dec  08 : AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first to receive in-principle approval from the Reserve Bank of India to transition into a Universal Bank, has unveiled its new brand campaign carrying forward the brand’s core theme of “Soch Badlo, aur Bank Bhi” (Change Your Thinking, Change Your Bank). Featuring Bollywood actors Ranbir Kapoor and Rashmika Mandanna, the campaign marks a creative departure from its predecessor, with McCann delivering a fresh, entertainment-forward interpretation of the core messaging that repositions AU SFB’s brand promise for a broader audience.

The campaign relies on humour, everyday conversations, and relatable character moments to drive its central premise: encouraging viewers to critically examine whether their current bank truly meets their financial needs. Rather than hard-selling AU SFB’s services, Ranbir and Rashmika function as subtle catalysts within these narratives, gently prompting audiences to consider more rewarding banking choices. By grounding the message in authentic, recognizable scenarios, the campaign invites consumers to rethink their banking relationships and explore what AU SFB offers as an alternative.

The communication highlights AU’s strengthened product propositions across consumer and business segments. On the consumer side, the bank offers higher interest rates with monthly payouts on AU Savings Accounts, alongside lifestyle benefits and merchant offers on AU Debit Cards. For businesses, AU’s comprehensive Current Account suite integrates lending, payment collections, merchant solutions, and Trade & Forex services – all designed to consolidate banking operations in one platform.

Central to this offering are the AU 0101 App and AU 0101 Business App, which bring branch-equivalent service to mobile devices. Both platforms deliver seamless digital banking, real-time account visibility, integrated money management, quick payments, collections and service requests, positioning AU’s digital infrastructure as a key differentiator in a market increasingly demanding convenience without compromise.

Speaking about the campaign, Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank, said,

“This campaign, based on core thought of ‘Soch Badlo, aur Bank Bhi’, inspires customers to reflect on their banking choices, as we bring the message in a more contemporary, relatable, and entertaining way. Ranbir and Rashmika help us convey this with honesty and charm, while our product strengths in Savings and Current Accounts provide strong reasons to make the switch. This campaign reinforces our commitment to offering customers a smarter, more intuitive banking experience as we prepare for our transition into a Universal Bank.”

Sharing his perspective, Prasoon Joshi, Chief Creative Officer & CEO of McCann Worldgroup India said,

“It’s about exploring the consumer’s evolving mindset through a lens of warmth and relatability. The team wanted to move away from being transactional and find the humour in everyday human truths. The films are rooted in the texture of daily life. The brand team through this campaign created an invitation for people to pause and rethink their banking relationship, but with a smile.”

The films have been directed by Hemant Bhandari and produced by Chrome pictures. The campaign will run across television, digital platforms, social media, and print, strengthening AU’s reach across customer segments. With this renewed creative push, AU reinforces its ambition to be the preferred banking partner for individuals and businesses across India.

TechnoStruct Academy Projects 81% Growth, $16M Valuation by FY26

New Delhi, December 8:- TechnoStruct Academy  the global Building Information Modeling (BIM) and Virtual Design & Construction (VDC) education leader with roots in India, today announced a transformational expansion aimed at solidifying its position as the worldwide standard for future-ready professionals in the Architectural, Engineering and Construction (AEC) industry. Backed by California-headquartered TechnoStruct LLC, TSA is projecting approximately 81% year-on-year revenue growthscaling from INR 72 million to INR 130 million in the current fiscal year while maintaining a robust USD 16 million valuation.

The expansion is anchored by three strategic pillars: the launch of the BuildingSMART-Certified Leadership Program, deepened partnerships with premier global and Indian engineering institutions, and accelerated market penetration across India’s construction technology boom. Together, these initiatives position TSA uniquely as an Indian brand that has successfully scaled globally, now serving learners across 29 countries with operational centres in San Francisco, Redwood City, Irvine, Dallas, Mexico, Germany and India (Gurugram and Pune).

“This isn’t just about growing a number it’s about demonstrating that world-class AEC education can originate from India and compete globally,”

said Mr. Roy Aniruddha, Founder and Chairman, TechnoStruct Academy. “By partnering with institutions like Michigan State University’s School of Construction Management, which ranks among the top 10 globally in its field, we’re setting a new benchmark. Our approach is different: we combine software-agnostic, project-driven BIM training with real billable project exposurethe same model that our parent company, TechnoStruct LLC, uses on projects like Google Bay View Campus and Apple headquarters. For learners across our 29-country footprint, this means acquiring skills that directly translate into global employability. It also sends a signal to Indian talent that you don’t need to leave India to access world-class digital construction education.”

The global infrastructure, the Indian heart; 

TSA operates at the intersection of India’s rapidly growing AEC market and global construction standards. Government initiatives such as the Smart Cities Mission and Gati Shakti have created unprecedented demand for digitally skilled professionals, while international clients increasingly expect ISO 19650 compliance and openBIM maturity across project teams. TSA’s expansion strategy directly addresses this dual opportunity: building deeper roots in India’s engineering ecosystem while leveraging its international presence to deliver globally-benchmarked curriculum.

The company’s program portfolio now spans specialized certifications in BIM for Infrastructure, Digital Construction Project Management, Data Science in Construction and advanced 4D/5D planning tools such as Bexel Manager all designed around live, billable project work rather than simulation or academic exercises.

BuildingSMART-Certified Leadership Program;

At the centre of this expansion is the Leadership Program, a global initiative for BIM and VDC professionals aspiring to lead complex, multi-stakeholder projects. The program is built around openBIM methodologies and ISO 19650 standards, which have become essential for large-scale government contracts and international delivery. Participants work alongside active practitioners from TechnoStruct LLC, ensuring that leadership lessons are grounded in real project challenges rather than theory.

Serving three distinct cohorts;

TSA tailors its offerings to three audiences: engineering students seeking job-readiness and live project exposure; working professionals upskilling through the BIM-Ready+ International Post-Graduation program; and corporate leaders needing to standardise BIM practices across global portfolios. This segmented approach has enabled TSA to build deep relationships within each cohort, resulting in strong placement outcomes and corporate partnerships across the world.

Practitioner-led, standards-aligned; 

TSA’s courses are led by active BIM architects, engineers and project managers from TechnoStruct LLC who bring direct experience from landmark global projects. This ensures that every course remains current, industry-relevant and directly applicable to today’s AEC challenges. Collaborations with buildingSMART International and Autodesk further guarantee curriculum alignment with global best practices and emerging standards.

Scaling an Indian advantage; 

With 81% projected growth, a USD 16 million valuation and a learner base spanning 29 countries, TechnoStruct Academy is demonstrating that India can be a source of globally competitive digital construction talent. The expansion reinforces TSA’s vision: to build a sustainable, innovation-driven institution that shapes the future of digital engineering leadership on a worldwide stage.

Bajaj Finance Ltd’s Financial Literacy Initiative Sparks Empowerment in Andhra’s Tribal Areas

Araku, Andhra Pradesh, Dec 08: Bajaj Finance Ltd., India’s largest Non-Banking Financial Company (NBFC) in the private sector and a part of Bajaj Finserv, today organized its financial literacy programme titled ‘Arthsutra Samvad’ in the interior region of Gondivalasa village under Chinalabudu Panchayat in Araku Valley mandal. A similar awareness programme was conducted on December 6 in Minimuluru village of Paderu mandal in the same district. This pan-India initiative aims to promote financial inclusion across villages and underbanked locations in India’s hinterland.

‘Arthsutra Samvad’ is being implemented under the RBI’s initiative for augmenting financial literacy and awareness. It aims to create awareness about financial discipline, online fraud, and good practices in money management.

Dignitaries, including Shri Panchadi Govind, Deputy Tehsildar of Araku Mandal; Shri B. Upender, Sarpanch of Chinalabudu Panchayat; and Shri Rayavarapu Venkatarao, representative of the Naandi Foundation, graced the event. The programme was held at Gondivalasa village and witnessed participation from approximately 75 members, predominantly belonging to the vulnerable tribal communities.

Bajaj Finance’s ‘Arthsutra Samvad’ is a comprehensive programme to foster financial awareness and empowerment at the grassroots level across India’s hinterlands. At its core, the initiative aims to simplify personal finance for individuals, helping them make informed choices with confidence and clarity.

Addressing the gathering, Deputy Tehsildar Panchadi Govind said,

“There have been many cases where villagers go to withdraw money only to discover that their hard‑earned savings have already been taken without their knowledge. Do not fall into such traps. Awareness is a powerful tool it can prevent exploitation and empower communities. At the same time, cultivating habits of saving and budgeting will help secure a better future for our families.

Highlighting that awareness is the strongest safeguard, the Sarpanch of the panchayat remarked:

“The lack of education often emboldens fraudsters. There have been several cases where people misuse thumb impressions to withdraw money without consent. Everyone must remain vigilant, especially when using ATM cards to access their funds.”He further urged the community: “Speak openly with your relatives, parents, and children. Awareness is our strength it empowers us and weakens the fraudsters.”

Rayavarapu Venkatarao, representative of the Naandi Foundation, cautioned participants with a simple rule:

“If an offer of easy money seems too tempting, it is most likely a fraud. Do not allow others to use your bank account, even if they promise you money in return. Such practices can put you at serious risk. In this region, many people have suffered losses by clicking on links containing .apk files. Remember, money never comes free—if it looks too luring, you should recognize it as a fraud.”

As part of the campaign’s multi-faceted approach, Arthsutra Samvad also places strong emphasis on financial fraud awareness. Everyone should remember the helpline number 1930, and in case of any cyber fraud, they should report it immediately. The audience has been guided on the careful and responsible use of mobile phones. Additionally, they have been cautioned against digital arrest scams, fraudulent investment groups on WhatsApp, installing suspicious APK files, and clicking on unidentified links received on their devices.

Through workshops, interactive sessions, and community dialogues, the Arthsutra program covers essential topics such as the importance of savings and how to build financial buffers for emergencies, understanding the nuances of responsible borrowing to avoid debt traps, and recognizing and avoiding common scams including those that occur online or in person.

In addition, participants will be guided on cultivating financial discipline and developing the resilience needed to navigate life’s monetary ups and downs. By merging practical knowledge with real-life scenarios, Arthsutra Samvad hopes to spark a long-term shift toward financially conscious behavior and a future-ready citizenry.

The programme will be further amplified through cultural events in surrounding areas and will include interactive workshops, expert talks, and community engagement activities, designed to simplify finance and encourage lifelong financial learning.

As part of the 100-year-old Bajaj Group, Bajaj Finance is committed to serving society. A Bajaj Finance spokesperson said,

“We believe the business of financial services has a larger purpose that of inclusion of the underserved and unbanked population into the nation’s financial mainstream. As part of our efforts to further financial inclusion, we are now launching a pan-India financial inclusion programme, aimed at bringing as many people as possible into India’s formal financial stream.”

IIFCL Raises USD 500M ECB, Oversubscribed 5x at Lowest Cost in 15 Years

IIFCL’s Inaugural USD 500 Million ECB Oversubscribed Five Times, Secures Lowest Cost in 15 Years to Boost Infrastructure Financing

New Delhi, Dec 08: India Infrastructure Finance Company Limited (IIFCL) has successfully raised USD 500 million in External Commercial Borrowings (ECB) through the Multilateral Investment Guarantee Agency (MIGA), a World Bank Group-supported guarantee facility. The initiative, aimed at financing priority infrastructure projects, witnessed overwhelming interest, with bids nearly five times the proposed facility.

The ECB, structured with a 15-year tenor, is designed to match the amortizing profile of typical infrastructure loans and avoid fixed rate-fixed tenure shocks commonly seen in bonds. MIGA provides coverage of up to 95% on principal and future interest, with an embedded hedging structure, enhancing the financial security of the facility.

Sh. Palash Shrivastava, Deputy Managing Director, IIFCL, stated:

“The strong response from global lenders reflects confidence in India’s growth story and infrastructure expansion. This success strengthens IIFCL’s ability to channel long-term international capital into priority projects and sets a benchmark for other institutions seeking global funding.”

Twelve leading international banks participated in the bidding, including Citi Bank, JP Morgan, Standard Chartered, HSBC, Société Générale, SMBC, Credit Agricole-Corporate & Investment Bank, BNP Paribas, MUFG, Commerzbank, BBVA, and Deutsche Bank. The facility supports sectors under the Harmonised Master List of Infrastructure Sub-Sectors, with a particular focus on sustainable and climate-aligned projects, adhering to Environmental and Social Safeguards (ESS) aligned with MIGA and Government of India standards.

This initial tranche of USD 500 million forms part of a larger programme targeting up to USD 2.5 billion in international capital mobilization for infrastructure financing, without requiring a direct Government of India guarantee. The financial closure for the first tranche is expected within this quarter.

Executive Centre India Achieves IMMUNE™ Building Standard Certification

Dec 8: Executive Centre India Limited’s workspace at One BKC, Level 17, Mumbai has been awarded the IMMUNE™ “Powerful” certification (4.5 star rating out of 5), marking a major milestone for India’s co-working industry. With this achievement, TEC becomes the first organisation in India’s flexible workspace ecosystem to be certified under the globally recognised IMMUNE™ Building Standard.

The IMMUNE™ Building Standard is administered by the Healthy by Design Building Institute (HDBI), an international accreditation body that evaluates buildings on their ability to protect and enhance occupant health. The certification assesses 135+ criteria across indoor air quality, ventilation, water safety, cleaning protocols, material health, pathogen control, and overall operational resilience. A “Powerful” rating reflects high-level implementation of science-based design and technology measures that contribute to safer and healthier environments.

Paul Daniel Salnikoff, Managing Director and Chief Executive Officer at Executive Centre India Limited, commented

 “Executive Centre India Ltd is honoured to be the first co-working operator in India to receive the IMMUNE™ Building Standard certification with a 4.5-star rating out of 5 for our One BKC workspace, a proud milestone for our organisation. This recognition from a global standard that prioritises people’s well-being reinforces our mission to set new benchmarks in quality, resilience and member experience, ensuring that each TEC workspace combines premium design and functionality with a strong focus on health protection and well-being.”

The certification marks a significant step for India’s flexible workspace sector, bringing globally recognised health standards into a co-working environment for the first time. By meeting the IMMUNE™ criteria, TEC demonstrates how shared workplaces can integrate thoughtful design and rigorous operational practices to support the needs of today’s workforce.

The Leela Palace Bengaluru Unveils the City’s First Lippan Art Christmas Tree, Created Exclusively for Its Holiday Celebrations

BENGALURU, Dec 6: The Leela Palace Bengaluru unveiled ‘Mirrors of Hope’, the city’s first Lippan Art Christmas Tree, at its annual tree-lighting ceremony last evening, reimagined this year as a celebration of artisan craftsmanship, women empowerment, and conscious luxury. The 12-foot installation, handcrafted by women artisans from Kutch in collaboration with the Karigar Foundation, brought India’s indigenous craft traditions to the forefront while redefining festive storytelling at the Palace.

In a city known for its dynamic blend of tradition and modernity, The Leela Palace Bengaluru has set a new benchmark for how luxury hospitality can approach festive celebrations, not as an opportunity for spectacle alone, but as a platform for cultural preservation, women’s empowerment, and sustainable design.

The ceremony brought together guests, cultural voices, and the hotel’s leadership to witness a celebration that honored not just the festive season, but the hands that created it. The installation has been aptly named ‘Mirrors of Hope’, each mirror embedded in the clay surface symbolizing light, reflection, and the promise of a brighter future.

In collaboration with women artisans from rural Gujarat, The Leela Palace Bengaluru crafted each element of the installation with care, using sustainable materials and techniques passed down through generations. Rather than opting for imported or mass-produced decorations, the hotel chose authentic, handmade adornments made from sustainable materials like clay, mirrors, and natural elements, which showcased the vibrant heritage of India’s craft traditions.

The result is a visually stunning tree adorned with intricate, handcrafted Lippan motifs, each one imbued with cultural significance and the personal artistry of its creator. Additionally, the installation stands as a representation of the hotel’s commitment to conscious celebration and environmental care.

Lippan Art, also known as Lippan Kaam, is a centuries-old craft form traditionally practiced by women in the Kutch region of Gujarat. However, like many traditional art forms, Lippan has faced challenges in recent years as younger generations move away from rural crafts and artisan communities struggle to sustain their livelihoods.

For The Leela Palace Bengaluru, commissioning this tree was about giving a vanishing craft form contemporary relevance. And by placing it in a high-profile space, the hotel ensured the artistry was seen, celebrated, and understood as part of India’s living artistic heritage.

The evening’s atmosphere was exquisitely enhanced by festive cocktails, delicate seasonal bites, and the enchanting sound of live Christmas carols that filled the lobby. By bringing together guests, artisans, and cultural narratives, the hotel turned the ceremony into a celebration of shared values, inviting guests to pause and appreciate the intersection of celebration and craftsmanship.

As the moment arrived for the ceremonial lighting of the tree, it became clear that this was not just a symbolic gesture. The illumination of the installation represented a deeper tribute to purpose and conscious celebration with the hotel committing to support artisan welfare initiatives based on engagement, a mechanism designed to extend the impact of the evening beyond the ceremony itself.

What’s further interesting in the tree will be disassembled after the festive season and its components thoughtfully repurposed into functional items such as handcrafted coasters for guest rooms, ornamental keepsakes for VIP gifting, and art pieces for internal display and mementos, extending the life and story of the installation well into the new year & reinforcing The Leela’s commitment to conscious luxury, where beauty is not fleeting, but enduring.

A part of a coordinated festive initiative across multiple Leela properties this season, the hotel demonstrated how a classic ceremony can be transformed to carry deeper meaning & that the festive season is not only a time for joy and gathering, but also a time for thoughtful action and purposeful celebration.

The Lippan Art Christmas Tree stands as a glowing reminder that joy can be beautiful, meaningful, and transformative all at once. And that when celebration is rooted in care, it reflects something far greater than light – it reflects hope, heritage, and the dignity of craft.