Category Archives: Business

TCS Kolkata Wins Standard Chartered Cup 2024

28 January 2025, Mumbai: The final leg of the Standard Chartered Cup 2024, India Edition, successfully concluded in Mumbai with Tata Consultancy Services, Kolkata, team emerging victorious. The 5-a-side, 10-minute corporate football tournament witnessed football action with 7 winning teams from seven cities competing for the coveted trophy and prize.

In the end, Tata Consultancy Services, Kolkata, team defeated Tata Consultancy Services, Hyderabad, team (4 – 0) to emerge as the winner of the India edition of Standard Chartered Cup 2024.

The finale event was graced by Liverpool Football Club legend, Steve McManaman, along with senior officials from Standard Chartered Bank, India.

The winning team will visit Anfield, the iconic home of Liverpool Football Club to witness the Reds in action and have the privilege of soaking in the electrifying atmosphere of a live English Premier League match. They will also get an exclusive stadium tour, including a behind-the-scenes entry to the Dressing Room of the Home Team and the iconic Player’s Tunnel.

Speaking at the occasion Nitin Chengappa, MD, Head Affluent Distribution & Branch Banking, Standard Chartered Bank, India, said, “SC Cup 2024 gave us unforgettable moments to cherish with some great games coupled with fierce competition and team spirit. The tournament is in line with what the Bank, which has been present in India for over 165 years, aspires to achieve – continuously communicating with clients across the world based on our brand promise of ‘Here for good.’ Huge congratulations to the winning team on their outstanding achievement and we extend our appreciation to all participating teams for showcasing remarkable sportsmanship and dedication throughout the tournament.”

Liverpool Football Club legend, Steve McManaman said, “I would like to congratulate the winning team. It’s been a fascinating experience to soak in the sights and sounds of Mumbai and interact with football enthusiasts. I would like to thank Standard Chartered Bank for giving me the opportunity to visit Mumbai and engage with the employees and the participating teams.”

Standard Chartered’s partnership with Liverpool FC started in 2010 and it is one of the longest associations in the Premier League. The Bank is the second longest running Front of Shirt sponsor in the Premier League. In India, football has a sizeable following, particularly for marque clubs like Liverpool FC. Among Standard Chartered Bank’s top 7 markets, India is ranked one among the Liverpool FC internet connected followers and for the social and digital followers.

UGRO Capital Posts Record Q3FY25 Loan Origination of Rs 2,098 Cr, AUM Up 32 percent YoY to Rs11,067 Cr

Mumbai, January 28, 2025: UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced its robust financial performance for the Quarter and Nine-month Period ended 31st December 2024. The company recorded its highest-ever quarterly loan origination of INR 2,098 crore, surpassing INR 1,552 crore in the same quarter last year. Its Emerging Markets Secured Loans (erstwhile Micro Enterprises business) experienced significant growth, with disbursements at INR 543 Cr in Q3’FY25, up from INR 180 crore in Q3’FY24, underscoring UGRO Capital’s commitment to empowering small businesses.

UGRO Capital sustained its growth momentum in Q3’FY25, achieving an AUM of INR 11,067 crore as of Q3’FY25 representing 32% increase compared to Q2’FY24. This surge can be attributed to increasing net loan origination, the opening of 74 new branches in the Emerging Market Segment in 9MFY25, achieving the highest-ever disbursement, Embedded Finance growth, and a data-driven underwriting model that together enable consistent quarterly disbursals of over INR 1,000 Cr.

In terms of financial performance, UGRO Capital reported a total income of INR 1,030 crore for the nine months (9M’FY25), reflecting a 37% YoY growth. For Q3’FY25, total income stood at INR 385 crore, marking a growth of 38% YoY and 12% QoQ. The PAT for 9M’FY25 scaled up to INR 103 crore, up 19% YoY, while Q3’FY25 PAT was INR 37 crore, reflecting an impressive 15% YoY and 6% QoQ increase. The company achieved net disbursements of INR 5,215 crore in 9M’FY25, reflecting 21% growth, with Q3’FY25 net disbursements reaching INR 2,098 crore, up 6% QoQ.

On the liability side, UGRO Capital mobilized its highest-ever debt of INR 1,400+ crore during Q3’FY25, bringing its total debt to INR 6,151 crore as of December 2024. The robust quarterly performance, coupled with optimal GNPA/NNPA metrics of 2.1%/1.5%, highlights the quality of UGRO’s portfolio and reflects a well-structured risk management framework. UGRO Capital’s distinctive co-lending approach, accounts for 44% of its off-book AUM, and its strategic partnership with 16 Co-lending partners, 59 lenders, over 60 fintechs, and 730+ GRO partners, facilitates data-driven, tailored financial solutions for more than 1.6 Lakh MSMEs across India.

Speaking on the performance, Mr. Shachindra Nath, Founder and Managing Director of UGRO Capital, said, “Our strong growth trajectory demonstrates the resilience of our business model and our unwavering focus on serving the MSME sector. The GRO Score patent exemplifies our commitment to innovation, and our growing branch network ensures deeper penetration into underserved markets. We aim to scale our micro-enterprise portfolio to ~35% of AUM by March 2026, driving yield expansion and fostering financial inclusion. As we move forward, we are confident in achieving our strategic goals while continuing to empower MSMEs across the country.”

GRT Jewellers Celebrating 60 Years with a Guinness World Record

GRT Jewellers, a trusted name in fine jewellery for six decades, marks its 60th anniversary with a remarkable achievement – breaking its own Guinness World Record. The brand has once again etched its name in the Guinness World Records by surpassing its own previous record. This time, it unveiled the Mega Golden Jhumkas, a breathtaking creation in 22-carat gold weighing 3.527 kilograms, now officially the world’s heaviest pair of gold earrings.

This extraordinary design pays tribute to South India’s rich cultural heritage while showcasing the unparalleled craftsmanship of GRT’s artisans. The adjudicator from the Guinness World Records presented the historical recognition to GRT Managing Directors Mr G.R. ‘Anand’ Ananthapadmanabhan and Mr G.R. Radhakrishnan.

Reflecting on the milestone, Mr ‘Anand’ Ananthapadmanabhan said, “This recognition is a humbling moment in our 60-year journey. It reflects our commitment to preserving legacy heritage while embracing innovation.”

Mr Radhakrishnan added, “This milestone belongs to our loyal customers, whose trust and encouragement motivate us to excel, and to our team & artisans”

With this achievement, GRT continues to inspire generations, setting new benchmarks in the jewellery industry while celebrating its legacy of trust, artistry, and timeless designs

Kotak BizLabs Accelerator Programme Set to Revolutionize India’s Startup Ecosystem

Bengaluru, 27th January 2025: Kotak Mahindra Bank Ltd. (KMBL) has launched the Kotak BizLabs Accelerator Programme along with a nationwide marketing campaign. This initiative, part of Kotak’s CSR efforts, aims to help early-stage startups overcome growth challenges and scale their businesses.

In collaboration with incubators like IIMA Ventures, NSRCEL, and T-Hub, Kotak BizLabs Accelerator Programme will offer mentorship, market access, funding opportunities, and advisory support. The programme has already enrolled over 200 startups and conducted 15 roadshows in Tier-2 and Tier-3 cities such as Indore, Surat, and Warangal.

Kotak BizLabs Accelerator Programme aims to support around 1,000 startups in sectors like agritech, climatech, fintech, healthcare, edtech, and sustainability. The accelerator programme features a Virtual Knowledge Centre, providing resources like the Online Startup School, guides, and networking opportunities as well as mentoring and grant funding of Rs. 15 lakhs to select startups.

In order to spread awareness about the programme, Kotak has launched an integrated marketing campaign that includes a digital film that captures the spirit of entrepreneurs, set to the tune of “Ohh Dreamers, Tere Crazy Dreams Ki Talaash Hai.” The film highlights how entrepreneurs live and breathe their ideas, with Kotak BizLabs offering up support to further their growth.

Kedarswamy Ravangane, Executive Vice President – Marketing, Kotak Mahindra Bank, said, “Small businesses are the backbone of the Indian economy. With Kotak BizLabs Accelerator Programme, we provide a platform to help them navigate challenges, grow sustainably, and scale their operations. This campaign is our commitment to reaching out to small business owners across India and showing how this programme can help them chase their dreams.”

Historic MoU Between AMFI and AMII Paves the Way for Deeper India-Indonesia Investment Ties

National, 27th January, 2025: In a significant move to foster bilateral collaboration, the Association of Mutual Funds in India (AMFI) and the Asosiasi Manajer Investasi Indonesia (AMII), the Indonesian Investment Managers Association have formalised an important step towards enhancing bilateral financial and economic best practises through cooperation by signing a Memorandum of Understanding (MoU) on January 25, 2025, in New Delhi, where a delegation of 12 top CEOs from Indonesia’s mutual fund industry accompanied the Indonesian President on his state visit to India. This partnership is set to strengthen the mutual fund sectors in both countries, enrich industry standards, and promote investor education and financial literacy, paving the way for a more dynamic, transparent, and globally integrated mutual fund ecosystem.

The MoU will create a platform for India and Indonesia to exchange best practices, insights, and strategies aimed at boosting the mutual fund industries. The partnership will cover understanding and need of broad spectrum of areas, including requirement for regulatory reforms, governance standards, essential investor protection steps, data analytics, research, product innovation, and risk management ensuring that both countries benefit from each other’s expertise and experiences.

As part of this historic event, AMFI hosted a Round Table for the visiting delegation of AMII, Indonesia, highlighting key aspects of the Indian economy’s growth story, opportunities in the mutual fund sector, and the pivotal role of technology in driving the capital markets. The round table also explored emerging opportunities at GIFT City and emphasized India’s leadership in financial innovation and governance.

The round table featured prominent speakers, including:

· Mr. Amitabh Kant, Sherpa, G20 and Former CEO of Niti Ayog

· Mr. Anuj Kumar, Managing Director, CAMS

· Mr. Hanif Mantiq, Chairman of AMII and CEO of Star AM, Indonesia

· Mr. Mohamad Oki Ramadhana, Commissioner of Indonesian Stock Exchange (IDX)

· Mr. Marsangap P Tamba, Chairman of APRDI and PWMII and Commissioner of PT Principal AM, Indonesia

On the momentous occasion, Mr. Navneet Munot, Chairman, AMFI commented “India’s collaboration with Indonesia aligns with the vision of Viksit Bharat 2047, set forth by Hon’ble Prime Minister Shri Narendra Modi, and Indonesia’s goal of achieving a developed economy by 2045, marking 100 years of their independence. This partnership resonates with India’s commitment to the leadership of the Global South, fostering economic collaboration and mutual growth. A strong capital market and a thriving asset management industry, as exemplified by the success of India’s mutual fund sector, will play a crucial role in achieving these milestones. This collaboration will lay the foundation for a sustainable and globally competitive mutual fund industry in both countries.”

Commenting further, Mr. Venkat Chalasani, Chief Executive, AMFI added “This collaboration signifies a crucial milestone in the growth of the mutual fund industry in both India and Indonesia. By working together, we are creating a unique opportunity to enhance understanding of market led financial industry, standards of governance, boost investor confidence, and drive innovation. This MoU will facilitate knowledge exchange between the two countries through the industry bodies”

The AMII delegation, which includes senior officials such as the Commissioner of the Indonesian Stock Exchange, the Chairman of AMII, and top leaders from Indonesia’s asset management sector, will engage in discussions that promise to be instrumental in shaping the future of mutual funds in both countries. Through focused deliberations on industry governance, innovation, and operational excellence, the MoU will lay down a blueprint for progressive, cross-border cooperation.

Mr. Hanif Mantiq, Chairman of AMII, emphasized, “This is a pivotal moment in the global mutual fund landscape. By learning from each other’s regulatory frameworks and governance structures, we will be able to offer our investors greater security and innovation in the years to come. The collaboration with AMFI will serve as a model for strengthening the bond between the financial sectors of emerging markets.”

The initiatives under this collaboration will include workshops, research, and capacity-building activities designed to educate and empower investors in both India and Indonesia, thus promoting responsible investment practices.

Maha Kumbh 2025: Vineet Mittal Explores the Intersection of Science, Spirituality, and Sustainability in India’s Legacy

Prayagraj, January 27th, 2025 – At the confluence of spirituality and science, Mr. Vineet Mittal, Chairman of Avaada Group, attended the Maha Kumbh Mela at Prayagraj, an event that harmonizes India’s ancient wisdom with celestial alignments and cultural unity. As a lifelong learner and advocate for sustainability, Mr. Mittal’s visit reflects his belief in the profound interplay between science and spirituality, and its relevance to modern life.

Having visited Prayagraj since childhood, Mr. Mittal shared his personal and philosophical connection with the city and its sacred traditions. Speaking on the occasion, he said: “The Maha Kumbh is not just a religious gathering; it reflects the extraordinary scientific understanding of India’s ancient rishis. Thousands of years ago, they observed how planetary alignments and cosmic rhythms influence the Earth’s energy fields and human consciousness. The precise timing of the Maha Kumbh, based on celestial events such as Jupiter in Aquarius and the Sun transitioning into Capricorn, aligns with natural energy flows that modern science is only beginning to explore. At the confluence of the Ganga, Yamuna, and Saraswati, one can experience a profound connection to the unity of humanity, nature, and the cosmos.”

As part of a unique initiative to promote cultural inclusivity, Avaada Group sponsored a cultural heritage trip for 1,000 individuals from underserved communities across India, offering them an opportunity to witness the grandeur of the Mahakumbh and deepen their connection with India’s rich heritage. Mr. Mittal emphasized the importance of such experiences in fostering cultural pride and inclusivity, stating: “The Triveni Sangam represents unity, renewal, and harmony—not just of rivers, but of people and energies. It reminds us of the deep wisdom in our traditions, which inspire us to preserve these sacred practices while building a sustainable and inclusive future.”

Avaada Group’s Commitment to Culture and Sustainability

Mr. Mittal’s participation in the Maha Kumbh reflects Avaada Group’s dedication to integrating sustainability with cultural preservation. By enabling individuals from diverse communities to experience this event, the group highlights its mission of inclusive growth and environmental stewardship.

The Maha Kumbh is also a powerful reminder of the ecological wisdom embedded in India’s traditions. It underscores the importance of preserving rivers, promoting sustainable practices, and living in harmony with nature. These values align seamlessly with Avaada Group’s vision of creating a sustainable future that respects both cultural and environmental heritage.

The Science Behind the Maha Kumbh

The Maha Kumbh 2025 stands as a unique convergence of ancient knowledge and modern understanding. The event’s timing is carefully calculated based on astronomical alignments, showcasing the advanced insights of India’s ancient rishis, who linked celestial movements with human energy and planetary forces.

During this rare planetary alignment, the gravitational forces between Jupiter, the Sun, and the Moon subtly influence the Earth’s geomagnetic field, creating conditions believed to cleanse negative energy, dissolve past karmas, and align human consciousness with natural cosmic rhythms. Bathing in the sacred Triveni Sangam is seen as a way to harmonize the body’s subtle energy channels (nadis) and tap into these heightened universal vibrations.

Modern research increasingly validates the wisdom embedded in these rituals. Studies show that geomagnetic properties of rivers, cold-water immersion, and the vibrational qualities of sacred sites have measurable effects on physical, emotional, and spiritual well-being, aligning closely with the teachings of ancient India.

A Gathering of Unity and Transformation

The Maha Kumbh 2025 is a celebration that transcends boundaries of time, tradition, and geography. It showcases the depth of India’s cultural and scientific heritage while inspiring people to reconnect with their roots.

Mr. Mittal’s presence at Prayagraj reflects his commitment to empowering individuals and communities while emphasising the need to embrace ancient wisdom in addressing modern challenges. His vision, rooted in sustainability and cultural pride, offers a powerful roadmap for growth that balances progress with respect for tradition and the environment.

Data Privacy Day by Varun Babbar, MD India, Qlik

“Agentic AI can transform productivity by handling complex tasks independently and adapting to feedback, but its responsible use is essential – making data privacy crucial for building trust. AI’s effectiveness depends on the quality of its data, making strong governance and data quality vital. Responsible data handling doesn’t just build trust—it unlocks AI’s full potential.

Protecting privacy today means being transparent, ethical, and proactive. As Agentic AI evolves, challenges like skill gaps, fragmented governance, and real-time data needs highlight the importance of clear processes and secure data pipelines. To succeed, businesses must upskill teams, implement strong governance, and invest in impactful AI solutions.

Building local cloud regions enhances data security and compliance, safeguarding sensitive information. With Gartner predicting that by 2028, 40% of enterprise AI assets will be traded through marketplaces, privacy and authenticity are more critical than ever. On Data Privacy Day, let’s commit to safeguarding data, building trust, and embracing the Agentic Systems Era, where intelligent agents create new opportunities for growth”

-Varun Babbar, Managing Director – India & SAARC, Qlik

Pre Budget by Utham Gowda, Founder and CEO, Captain Fresh

Mr. Utham Gowda, Founder & CEO of Captain Fresh,

“As India charts its path to achieve ₹1 lakh crore in seafood exports annually, the Union Budget 2025-26 is expected to play a pivotal role in driving this ambitious goal.

At Captain Fresh, we’ve seen how technology can form the foundation for creating a platform business connecting various nodes across the global supply chain. As digitization becomes an imminent theme in organizing global supply chains, India can position itself as an exporter of not just seafood but also technologies that transform the value chain. We hope the government will incentivize innovation by fostering collaboration with tech startups in the production ecosystem—both marine & aquaculture—to address critical challenges like scalability, market access, and international quality standards.

We expect the budget to emphasize technology integration, infrastructure development, and policy reforms to enable sustainable growth. Strengthening bilateral trade agreements to reduce tariff barriers and prioritizing R&D to advance domestic productivity will be crucial for meeting growing global demand.

By modernizing infrastructure and promoting sustainable practices, the government can boost exports and position India as a global leader in the Blue Economy, creating significant economic opportunities for coastal communities. Aligning fiscal priorities with sectoral needs will also enhance resilience, generate employment, and drive GDP growth while solidifying India’s standing in the $450 billion seafood industry.”

Pre-Budget Expectations Mr. Haresh Karamchandani, MD & Group CEO, HyFun Foods

Mr. Haresh Karamchandani, MD & Group CEO, HyFun Foods

“As a pioneer in the export of frozen potato products from India, we recognize the vast opportunities presented by food processing – a sunrise sector. We believe the upcoming budget can be a turning point by focusing on three key aspects:

First, capital investments through measures such as long tax holidays for new capex above a particular threshold and export-linked incentives that make products competitive vis-a-vis larger manufacturing economies. Larger processing units benefit from economies of scale, making products globally competitive and boosting foreign exchange earnings.

Second, this sector has the potential to be a significant employment generator. Subsidies linked to additional job creation can accelerate labor absorption and improve livelihoods for many.

Finally, increasing domestic consumption by lowering taxes for the middle and upper-middle classes will stimulate demand and drive further economic growth.

We are optimistic that the budget will acknowledge these priorities and provide the support needed for sunrise sectors like the food processing sector to thrive and become a major driver of growth for India.”

Galaxy Health Insurance Sets Foot in Karnataka, Opens Its First Regional Hub in Bengaluru

Bengaluru, 27 January 2025: Galaxy Health Insurance, the newest standalone health insurance company enters Karnataka by opening its first regional office in Bengaluru. The office will serve as a hub for regional operations. The company plans to open 27 offices across Karnataka in the next year with Bengaluru being the first one.

Galaxy Health Insurance is jointly promoted by the renowned industrial house TVS family Shri. Venu Srinivasan, Chairman Emeritus of TVS Motor Company and Sundaram – Clayton Limited along with the family of Shri. V. Jagannathan, who was earlier CMD of United India Insurance Co. Ltd and the founder of India’s first standalone health insurance company. Galaxy received its license from the IRDAI in March 2024.

Mr G. Srinivasan, MD & CEO, Galaxy Health Insurance said, “We started Galaxy last year with a commitment to making health insurance products affordable, accessible, and customer-centric. The launch of our regional office in Bengaluru is a significant step toward fulfilling that promise. As the technology capital of the country, Bengaluru is a vibrant city with a young, dynamic population, making it the ideal gateway for our expansion in Karnataka. With plans to establish 27 offices across Karnataka and onboard 5000 insurance agents in 2025, we aim to meet the evolving needs of customers while contributing to local employment and economic growth.”

Galaxy recently introduced its first flagship product, Galaxy Promise, an affordable, comprehensive health insurance plan designed for individuals and families.

The regional office was inaugurated by Mr G Srinivasan, MD & CEO Galaxy Health Insurance. Mr Margabandhu (CUO) Mr. Guru Prakash (CMO), Mr. V. Thiyagarajan (Financial Advisor) Mr. John Noronha (Mentor), Mr Vinod Kumar R (State Head), and Mr. Oleti Anil Kumar (Zonal Head) were also present at the opening