Category Archives: Business

Tata Power Powers Over 414 Million Green Miles Through Its EV Charging Network Across India

Chandigarh, June 10: India‘s energy future is being shaped not just by policy ambition, but by the everyday choices of millions of citizens increasingly aware of the cost and consequences of conventional fuel dependence. As running costs continue to favour electric mobility, India‘s EV adoption is moving from the margins to the mainstream and the latest industry numbers make the shift unmistakable.

Tata Power, one of India‘s largest Integrated Power Companies and the operator of one of India‘s largest EV charging networks, is enabling this transition at scale. Through its expanding charging infrastructure, the company has facilitated over 7.5 lakh charging sessions and 414 million green miles across the country, while helping avoid approximately 50,000 tonnes of CO₂ tailpipe emissions.

Today, Tata Power‘s EV charging ecosystem spans more than 5,500 public charging points across over 700 cities and towns, making EV charging increasingly accessible across urban centres, highways, workplaces, commercial destinations and residential communities. In partnership with leading automotive OEMs, the company has also introduced end-to-end home charger installation services and has installed over 2.3 lakh home chargers across India, supporting a seamless charging experience for EV owners and strengthening the country’s overall EV charging ecosystem.

Further strengthening its EV charging footprint across key mobility corridors and urban centres, Tata Power EZ Charge will inaugurate new charging stations at Kopa Mall in Pune, IOCL locations on both sides of the Ahmedabad–Vadodara Expressway, and a Shapoorji Pallonji Mini Hub in Kolkata equipped with six charging guns. These additions are aimed at enhancing charging accessibility across city hubs and high-traffic travel routes, supporting a more convenient and reliable EV ownership experience for both daily commuters and long-distance travellers.

EV sales in India surpassed 2.55 million units in FY2026, with all four vehicle segments registering double-digit growth. Demand for zero-emission passenger vehicles was especially strong, with retail sales rising significantly during the year.

As more Indians look toward electric mobility for both environmental and economic reasons, Tata Power‘s charging network is ensuring that the infrastructure keeps pace with intent. From residential communities and commercial campuses to highways and urban hubs, the company’s charging footprint is helping create a future where mobility is cleaner, smarter, and more resilient.

Galgotias University Partners with 247VC to Launch Entrepreneurship & Venture Excellence (EVE) Program

Strategic partnership aims to create venture-backed startups from Galgotias University and enable the campus as a premier destination for venture-ready talent in India

Greater Noida, June 10: Galgotias University and 247VC, a leading seed stage venture capital fund, announced a long term partnership. The collaboration encompasses the launch of the Entrepreneurship & Venture Excellence (EVE) Program, a structured initiative designed to equip students with startup-building frameworks, investor mentorship, and access to institutional capital.

Commenting on the partnership, Dr. Dhruv Galgotia, CEO, Galgotias University said, “Our partnership with 247VC is a one-of-its-kind initiative where a venture capital fund will have an active engagement presence within the University ecosystem itself, enabling students to interact directly with investors, startup mentors, founder networks, and venture-building experts.

As part of this initiative, the University will facilitate dedicated on-campus engagement spaces to enable regular interaction between students and venture capital professionals. Having venture capital presence directly on campus will help students move ideas, research, and prototypes closer to real-world execution, mentorship, and venture creation.”

The partnership is designed to bridge a critical gap in entrepreneurship education within Indian universities by providing students with practical, investor-validated frameworks rather than theoretical knowledge.

Commenting on the collaboration, Yagnesh Sanghrajka, Managing Partner, 247VC, said, “We are truly elated to partner with a premier institution like Galgotias University. With its 50,000+ students, across various disciplines, having state of the art technologies available to them, this collaboration presents a unique opportunity to nurture the next gen of entrepreneurs.

This model will become a blueprint for how universities should partner with venture capital. We’re committed to bringing our real-world venture investing experience and our deep founder networks directly to Galgotias’ students, transforming entrepreneurship from an aspiration into a structured, achievable outcome.”

Matrix Design Group and Hyundai Material Handling Announce Technology Partnership

HiVision powered by OmniPro® Vision AI highlights the importance of integrated collision avoidance technology during National Forklift Safety Day

NEWBURGH, Ind. — In recognition of National Forklift Safety Day, Matrix Design Group LLC, a wholly owned subsidiary of Alliance Resource Partners, L.P. (NASDAQ: ALRP), and Hyundai Material Handling are highlighting a partnership focused on reducing warehouse collisions caused by blind spots, congested aisles and limited operator reaction time.

Through HiVision® powered by OmniPro®, Hyundai and Matrix are integrating edge-based pedestrian, vehicle and object detection into lift truck operations, creating a foundation for safer, more connected and more efficient material handling fleets.

“The value of this technology extends well beyond collision avoidance,” said Mark Watson, CEO of Matrix Design Group. “By integrating OmniPro Vision AI into the lift truck platform, we are helping customers create a foundation for safer operations, better visibility and more productive facilities.”

At MODEX 2026 in Atlanta, Matrix and Hyundai demonstrated the technology on a Hyundai lift truck configuration, showing how the system can identify forward and rear obstacles, escalate visual alerts from green to yellow to red and trigger speed reduction via CAN-bus integration as proximity becomes critical.

“As Hyundai looks ahead, working with Matrix as an official technology partner helps shift the approach from standalone point solutions to a more cohesive strategy,” said Lewis Byers, Executive Vice President and COO of Hyundai Material Handling. “Collision avoidance is the starting point, but the roadmap extends well beyond into a more connected and intelligent machine ecosystem.”

Matrix and Hyundai say the partnership supports safer warehouse operations while helping facilities prepare for smarter fleet technologies and future automation.

Connected, optimistic, human: a snapshot of hospitality’s future from 750 hoteliers at Mews Unfold

[Amsterdam, 9 June 2026] – Mews, the hospitality operating system, shared findings from a live audience poll held during Mews Unfold 2026, the company’s annual [RL1] hospitality forum. The event brought together more than 750 hoteliers, operators and industry leaders in Amsterdam. Mews polled attendees throughout the day and their answers show how a room of industry experts sees the forces reshaping hospitality: the role of new technology, the place of AI in a people-first business, and the move from fragmented software to connected systems. 

Appetite for new technology is high. 

80% of respondents said they are excited about the role new technologies will play in hospitality. The finding matches Mews’ wider hotelier research, in which 92% said they were optimistic about AI in hospitality.¹ 

That enthusiasm reflects a wider change in what hoteliers expect technology to do. The conversation on stage returned to a single idea: hotels sell the whole trip, not only the room. Guests book an experience and a moment, and the room is one part of it. The opportunity is to serve more of that trip, through new services and partnerships that meet guests where their expectations already sit. Mews’ new partnership with Uber brings ride booking inside the operating system. The trip to and from the property becomes part of the stay, not a separate transaction outside the hotel. Food and beverage, local experiences, transport and wellness are all revenue that leaves through the door today. For hoteliers, the wider experience is where the growth sits. 

Most believe technology will make hospitality more human. 

At the start of the day, 60% of attendees felt that new technology would make hospitality more human. By the close, that figure rose to 80%. The change across a single day of talks, presentations and workshops is clear, and it reframes one of the industry’s oldest worries. 

Many fear that technology erodes the human core of hospitality. The case made at Unfold was the opposite. AI is now hard to avoid, and doing it well is the real test. Technology providers need the right architecture, clean data and sound processes, not more systems stacked on top of one another. Hotels need their data in order and a clear view of where AI helps. Staff need the willingness to change and experiment. Roles will not disappear, but they will change. The front desk agent becomes a host, the revenue manager becomes a strategist. 

Hoteliers are moving from fragmented tools toward connected systems. 

At the start of the day, just over half of attendees (51%) said that having all their tools work together mattered more than assembling best-of-breed point solutions. After Mews introduced the Mews Operating System, 83% said the operating system strategy was the right fit for their business. The two questions are not a direct comparison, but the movement points to a real change in mindset over the day. 

That change sits at the heart of what Unfold set out to argue: For forty years, hotel software has run on a category map of acronyms: PMS, RMS, CRS, CRM, POS. The five product launches at Unfold collapse that map into one platform, one data model and one bill. The comparison made on stage was direct: the iPhone did not improve the phone, it made the old device obsolete. An operating system for hospitality does the same to the old stack. The data suggests that hoteliers increasingly believe that technology can be both seamlessly connected and provide best-in-class capabilities. 

“The results are a clear snapshot of where the industry stands. The appetite for new technology is real, and our customers are optimistic, not anxious,” said Richard Valtr, Founder of Mews. “They see that technology, and AI in particular, will make hospitality more human by giving teams back the time to do what they do best. And they are ready to move on from a category map drawn forty years ago, toward systems that finally work as one. The mandate from this room was clear, and we will deliver on it.” 

“Mews Unfold 2026 was an inspiring gathering of hospitality innovators, industry leaders, and passionate professionals, all coming together to shape the future of hospitality while building meaningful connections.” added Luca Molinari, Hotel Manager at Glamp Nusa. 

Save the date: Mews will return to Amsterdam on May 12, 2027.  

¹ Mews Hotelier Survey, Q1 2026. N=500 hoteliers from US, CA, FR, DE, UK

Relm Insurance Launches ALPHA Policy for Investment Managers Across AI, Biotech, Digital Assets and Other Emerging Sectors

HAMILTON, Bermuda — June 9, 2026: Relm Insurance (‘Relm’), the leading specialty insurer supporting emerging and innovative industries, today announced the launch of ALPHA, a consolidated investment management insurance policy designed for firms operating across emerging asset classes.

Investment managers are increasingly deploying capital into areas such as AI, biotech, fintech, digital assets, and the space economy. Following the earlier release of ALPHAWEB3, which was developed for investment managers operating in blockchain-based and digital asset strategies, Relm has expanded the product into a broader framework designed for firms investing across both emerging and traditional sectors. While the underlying risks remain rooted in established financial lines exposures, many firms now operate across complex structures where insurance solutions can be fragmented, with separate policies covering different parts of the platform. This can create gaps or duplication at the worst possible time, during a claim.

ALPHA has been developed to support investment managers putting capital to work in emerging industries, combining Relm’s underwriting appetite for these sectors with a consolidated policy structure. 

The product includes investment advisor professional liability, fund coverage, management liability, employment practices liability, and crime within a single, integrated framework, with extensions for areas such as pre-claim expenses, public relations costs, and loss mitigation. The policy is structured to align with how these firms operate in practice, where exposures often overlap across advisory, fund, and management activities.

“Investment managers play a critical role in financing the innovative industries that Relm serves,” said Shane Doyle, Relm’s Chief Underwriting Officer. “Supporting the firms that allocate capital into these sectors is, in turn, how we support the industries themselves. The launch of ALPHA, alongside the refresh of ALPHAWEB3, expands Relm’s ability to serve investment managers operating across digital assets and other frontier sectors, with insurance solutions designed to reflect how modern investment platforms manage risk.”

Relm’s approach combines a proprietary policy form with underwriting expertise in emerging sectors, and capacity of up to $5 million across multiple currencies.

The product is designed to support organizations from early-stage managers through to established firms, with underwriting tailored to different strategies, structures, and stages of growth.

Rohit Aggarwal Steps Down as Managing Director of Lite Bite Foods Pvt. Ltd. After 24 Years of Building India’s F&B Powerhouse

Mr. Rohit Aggarwal, Co–Founder and Managing Director of Lite Bite Foods Pvt. Ltd., one of India’s largest and most dynamic food and beverage companies, announced his retirement. After 24 years of building, leading, and shaping one of the most recognised F&B groups in the country, Mr. Aggarwal steps down from his executive role, closing a chapter that has left an indelible mark on India’s hospitality industry.

Lite Bite Foods was founded in 2002 by Mr. Amit Burman and Mr. Rohit Aggarwal – two friends united by a shared vision of bringing world-class dining experiences to India. What began as a pioneering foray into organised food retail has since grown into a company with 19 owned and 5 managed brands, over 160+ outlets across 19 cities in India, and an international presence in Singapore, Washington DC, Abu Dhabi, Dubai, and Bangkok. The company today employs over 4500+ people and has served more than a crore guests.

Over the course of 24 years, Mr. Amit Burman and Mr. Rohit Aggarwal led Lite Bite Foods with complementary strengths and a shared purpose, one steering the strategic and financial direction of the company, the other driving its operations, brand-building, and growth on the ground. Together, they built a portfolio of critically acclaimed brands including Punjab Grill, YouMee, Zambar, Asia Seven, and Street Foods by Punjab Grill each distinct in identity, each a reflection of the quality, culinary integrity, and vision that both founders brought to this company from its very first day.

“ Every brand we built, every team we grew, every guest we welcomed – it was all driven by a single belief: that food has the power to bring people together in the most beautiful way. I leave with a full heart, immense gratitude for every person who has been part of this journey, and complete faith in the extraordinary team that will carry this company forward.” 

— Mr. Rohit Aggarwal, Co–Founder & Managing Director, Lite Bite Foods Pvt. Ltd

Muthoot Microfin receives CRISIL rating upgrade to ‘CRISIL AA-/Stable’

Kochi, June 9 : Muthoot Microfin Limited , among India’s Non-Banking Financial Company-Micro Finance Institution , today announced that CRISIL Ratings has upgraded its long-term credit rating to CRISIL AA-/Stable from CRISIL A+/Positive. The Company’s Commercial Paper rating has been reaffirmed at CRISIL A1+.

The upgrade is expected to further enhance the Company’s access to diversified funding sources at competitive rates, supporting a continued reduction in borrowing costs. Muthoot Microfin has already demonstrated significant progress in lowering its cost of funds, which declined from 11.0% in FY25 to 10.3% in Ǫ4 FY26, while the incremental cost of funds has come down to 9.9%. The improved credit profile will help sustain this trend, enabling the Company to optimize its liability mix and strengthen net interest margins over the medium term.

Overview of the Rating Action

The upgrade reflects Muthoot Microfin’s strengthening credit profile, underpinned by improving asset quality, a recovery in profitability, adequate capitalisation, a diversified resource profile, anda robust liquidity position. Theratingalso factors in thecontinuedfinancial, operational, and management support from its parent, Muthoot Fincorp Limited, the flagship company of the Muthoot Pappachan Group.

Key Drivers:

• Improving Asset Quality: GNPAs declined to 3.89% from 4.84%, and collection efficiency held above 96% backed by tighter underwriting, portfolio guardrails, and a provision cover of 71.5%.

• AUM Growth Back on Track AUM grew ~13% year-on-year to Rs. 14,006 crore in FY26, a strong rebound from just 1.3% growth in FY25, driven by improved disbursements following portfolio stabilisation.

• Sharp Profitability Turnaround PAT recovered to ~Rs. 170 crore in FY26 from a loss of Rs. 222 crore in FY25, with credit costs halving to 3.5%.

• Well-Capitalised Balance Sheet Net worth stood at Rs. 2,854 crore with gearing at a comfortable 3.3x times as of March 31, 2026, further strengthened by strong parental support enabling timely fund mobilisation. Healthy CRAR at 23.9%.

Commenting on this development Mr. Thomas Muthoot, Chairman and Non-Executive Director, Muthoot Microfin, said,

“We are delighted to receive this rating upgrade, which reflects the trust and confidence that our stakeholders have placed in Muthoot Microfin. In a period when the microfinance sector continues to navigate a challenging operating environment, this upgrade stands out as a recognition of our resilient business model, prudent governance, increasing diversification and disciplined execution.

It is particularly encouraging to be among the few NBFC-MFIs to receive a positive rating action during this period. As we look ahead, we remain focused on building a resilient and future-ready institution that delivers sustainable value while advancing the cause of financial inclusion.”

Commenting on this development Mr. Sadaf Sayeed, CEO, Muthoot Microfin, said,

“The upgrade from CRISIL A+ to CRISIL AA- is a significant milestone for Muthoot Microfin and reflects the strength of our operations, financial discipline, and consistent execution. It reinforces the confidence of lenders, investors, and other stakeholders in our long-term growth strategy.

This higher rating strengthens our funding profile by enabling access to a wider pool of lenders. It also enhances our ability to secure funding on more competitive terms, supporting our ongoing efforts to reduce the cost of funds and improve net interest margins (NIMs).

The upgrade is an important step toward our Vision 2030 goals of achieving Rs. 30,000 crore in AUM, having an ROA of 5%+ and positively impacting 10 million households. We remain committed to empowering underserved women and expanding access to inclusive financial services across India.”

Department of Post, India Honours Amazon MX Player’s Made in India: A Titan Story with Special Commemorative Envelope and Postcard

Mumbai, India June 09th: Amazon MX Player, India’s leading free premium ad-supported streaming service, recently released Made in India: A Titan Story, the highly celebrated period drama chronicling the extraordinary journey behind one of India’s most iconic brands. The series continues to garner widespread appreciation from audiences, critics, and industry leaders alike and has now received recognition from the Department of Posts, India which today revealed a special commemorative envelope and a post card in homage of the show.

The commemorative envelope and post card was presented from the Department of Posts, India to lead actor Jim Sarbh and director Robbie Grewal, Celebrating a story entrenched in ambition, innovation, and enterprise, the honour further underlines the cultural resonance of Made in India: A Titan Story, which continues to inspire audiences across the country through its portrayal of one of India’s most defining business success stories.

Adapted from Vinay Kamath’s acclaimed book Titan: India’s Most Successful Consumer Brand. The six-part series is written by Karan Vyas, directed by Robbie Grewal, and produced by Almighty Motion Pictures. The show features a stellar ensemble cast led by Naseeruddin Shah as J.R.D. Tata and Jim Sarbh as Xerxes Desai, alongside Vaibhav Tatwawadi, Namita Dubey, Lakshvir Saran, and Kaveri Seth in pivotal roles, and is now streaming for free on Amazon MX Player.

Skinnovation Introduces Duetto MT, an Advanced Dual-Wavelength Laser Platform for Tailored Aesthetic Treatments

Mumbai, June 9 : Skinnovation Pvt. Ltd., a distribution company of the latest aesthetic and dermatological technologies, has introduced the Duetto MT, a revolutionary dual-wavelength laser platform designed to deliver advanced precision, versatility, and efficacy across a broad range of aesthetic treatments.

With customizable wavelengths of 1064 nm Nd: YAG and 755 nm Alexandrite in one system, Duetto MT empowers practitioners to achieve personalised treatments for Indian skin type through the proprietary Quanta Mixed Technology, which permits sequential, independent, and simultaneous delivery of both wavelengths. Integrated cooling technology helps in maintaining patient comfort throughout the treatment.

Duetto MT helps treat various indications, laser hair reduction, skin rejuvenation, pigmented lesions, and vascular concerns. 

Speaking of the launch, Kalpesh Gawade, Founder & Managing Director, Skinnovation Pvt. Ltd., said,

” At Skinnovation, our focus has always been on bringing advanced technologies that empower practitioners to deliver safe and effective treatments. Duetto MT represents a significant advancement in laser aesthetics, offering exceptional versatility and precision across a wide range of indications and skin types, while enabling practitioners to positively impact more lives.”

With the launch of Duetto MT, Skinnovation continues to reinforce its promise of touching lives of people for advanced patient care .

Paymentology Powers PayMongo’s New Virtual Mastercard Card for Philippine SMEs

MANILA, Philippines: June 9 —Paymentology, PayMongo and Mastercard have announced the launch of a new Virtual Prepaid Business Payment Card designed specifically for Philippine small and medium-sized enterprises (SMEs). The solution is the first virtual prepaid card in the market to combine prepaid functionality with business-focused payment capabilities, giving SMEs access to tools that help them manage spending, control expenses and operate more efficiently.

The launch comes as SMEs continue to face limited access to business-grade financial tools despite accounting for the majority of businesses in the Philippines, employing 63% of the workforce and contributing up to 40% of GDP.

Businesses using the new PayMongo platform can onboard and access a virtual prepaid card in less than five minutes, providing fast access to payment tools designed specifically for the needs of growing businesses.

The solution has been purpose-built around the operational needs of SMEs, enabling businesses to:

● Set spending limits and issue separate cards for teams or purposes

● Track transactions in real time

● Enable freelancers and employees to access funds without requiring personal bank accounts

● Access and manage payments through the existing PayMongo workflow

● Benefit from enterprise-grade fraud monitoring, compliance and transaction security powered by Paymentology and Mastercard infrastructure

Jojo Malolos, CEO at PayMongo said: “”We are giving Filipino entrepreneurs a real, honest shot at growing their business. We’re giving SMEs a financial tool they can control – one that enforces the discipline to spend only on what moves the business forward, and nothing else. The biggest motivation for any business owner is seeing their business actually grow. This is the tool that lets them see it, and build on it.”

The initiative also reflects broader momentum within the Philippine payments landscape, following the Bangko Sentral ng Pilipinas’ Digital Payments Transformation Roadmap target of achieving 50% digital retail transactions by 2023.

Every card issued through the programme runs on Paymentology’s globally scalable issuer-processing infrastructure and Mastercard’s payments network, providing built-in fraud controls, transaction monitoring and compliance standards. The PayMongo platform is also PCI-DSS 4.0 and SOC 2 Type 2 certified.

Minh Ha Truong, Head of Growth APAC at Paymentology commented: The Philippines is a market where small businesses power the majority of employment but have historically had limited access to business-focused payment tools. Through our partnership with PayMongo and Mastercard, we are helping make modern card-based financial services more accessible to Philippine SMEs, regardless of size. This launch demonstrates how issuer processing can help unlock practical, scalable payment solutions for businesses that have traditionally been underserved.”

The partnership also represents an important step in PayMongo’s broader vision to build a comprehensive suite of card-based financial tools for Philippine businesses, with additional innovations planned in the future.