Category Archives: News

Anup Gupta Appointed Chairman of Bombay Stock Exchange Brokers’ Forum

Mr. Anup Gupta

The Bombay Stock Exchange Brokers’ Forum (BBF) has appointed Mr. Anup Gupta as its new Chairman, effective September 30, 2024, succeeding Mr. Kishor Kansagra. Mr. Gupta, Director of Sykes & Ray Equities (I) Ltd., brings extensive financial expertise, including M&A, corporate finance, and derivatives. BBF represents over 650 securities broking firms in India and actively contributes to regulatory policy. It also engages globally through affiliations with international financial bodies and focuses on professional development and investor education.

JW Marriott Hotel Bengaluru Marks 11 Years of Excellence Under Gaurav Sinha’s Leadership

Bengaluru, 04.10.2024: JW Marriott Hotel Bengaluru proudly celebrates its 11th anniversary, marking over a decade of setting benchmarks in luxury hospitality. Since its inception in 2013, the hotel has been a symbol of elegance, renowned for its exceptional service, world-class amenities, and dedication to creating memorable experiences for its guests.

Over the past year, JW Marriott Hotel Bengaluru has hosted a range of exciting F&B collaborations and promotions, showcasing global culinary delights. Highlights include the vibrant Thai and Tokyo flavors featured in Chef Seefah’s exclusive pop-up at UNO Izakaya and the ‘Monsoon Trail’ by Guestronomy MharoKhet, which brought a fresh twist to seasonal dining. Additionally, Comorin, Gurugram’s exclusive pop-up at the hotel, created a culinary storm, while the Sunday Brunch Odyssey offered a global gastronomic journey for guests. Furthermore, JW Marriott teamed up with Matamaal for “The Kashmiri Rhapsody,” a unique collaboration that brought the rich flavors of Kashmir to the city, combining culinary excellence with a captivating melodic experience.

The hotel has implemented several eco-friendly initiatives to reduce its environmental impact. It meets 95-98% of its energy needs through wind power, energy-efficient appliances, optimized HVAC systems, and electrical hot water generators with heat pumps. Water conservation efforts include the addition of aerators, rainwater harvesting, and borewell recharging, with treated wastewater from the STP used for gardening and cooling towers. The hotel manages waste through an organic food waste converter and produces 2,500-3,000 glass bottles daily to replace single-use plastics. Community efforts include a hydroponic container for water-efficient produce and an EV charging station for guests.

As the hotel embarks on its 12th year, Mr. Gaurav Sinha, Hotel Manager, reflects on this milestone and the continued pursuit of excellence that has defined JW Marriott Hotel Bengaluru’s journey. “Being part of Marriott’s global family is a privilege that comes with great responsibility,” says Mr. Gaurav Sinha. “At JW Marriott Bengaluru, we are committed to delivering luxury that is deeply personal and experiences that our guests will cherish. With an extraordinary team by my side, I am confident that our journey ahead will be even more rewarding, as we continue to innovate and raise the bar for hospitality in Bengaluru.”

Since opening its doors, JW Marriott Hotel Bengaluru has been a beacon of luxury in the heart of the city. Known for its thoughtfully designed rooms, impeccable service, and culinary mastery, the hotel has been the destination of choice for travelers, corporate clients, and residents alike. From hosting prestigious events to curating personalized guest experiences, JW Marriott Bengaluru has consistently set the standard for hospitality in the region.

In its 11th year, the hotel continues to build on its legacy, maintaining a perfect blend of elegance and contemporary flair. Under Mr. Gaurav Sinha’s leadership, the hotel remains focused on enhancing the guest experience through innovation and world-class service, positioning itself as a leader in the luxury hospitality space.

“Our goal is not just to meet guest expectations but to exceed them at every touch point,” Mr. Sinha adds. “We’re passionate about providing unforgettable moments and setting the standard for luxury hospitality in the city.”

JW Marriott Hotel Bengaluru promotes diversity and inclusion by hiring from the LGBTQIA+ community and marginalized groups. Partnering with the SAATHIYA Foundation, the hotel provides training and job placements to underprivileged youth, resulting in six new hires, including one specially-abled individual. Leadership roles, such as the Cluster IT Manager and Housekeeping Manager, are held by LGBTQIA+ members, reflecting the hotel’s commitment to merit-based growth. The hotel also supports employees undergoing gender transitions and collaborates with brands like Lululemon for events such as “Sweat with Pride” to raise awareness. These initiatives position the hotel as a leader in diversity and inclusion in Indian hospitality.

Tender Floated for PR 7 Airport Road, Zirakpur Real Estate to Reap Benefits

In a major development that transforms Zirakpur’s connectivity, the PR 7 Airport Road has officially been floated for tender, paving the way for construction. Stalled 11 years ago, the road will boost the real estate market in the region, offering excellent connectivity and appreciation in property value.

The proposed 200-foot wide, six-lane bypass, running approximately 16.5 kilometres, will start from the Patiala-Zirakpur light point (Airport junction) and end at the old Panchkula light point. The road will also provide an alternate route from Panchkula to the New International Airport in Mohali, allowing traffic to avoid Chandigarh. The road will serve as an essential signal-free route linking Zirakpur, Panchkula, Mohali, and Chandigarh, thereby significantly boosting connectivity for residents of key residential projects in the area.

The real estate sector is optimistic about the positive impact this development will bring to the region. Prateek Mittal, Executive Director, Sushma Group, said, “With the PR-7 Airport Road project finally moving forward, the entire sector is looking forward to the tremendous growth this infrastructure will bring. This translates to enhanced connectivity for our residents at Sushma Valencia, and adds huge value to our other Residential and Commercial projects, like Sushma Belleza and Sushma Empiria, on this road.”

“The PR 7 Road will open up new avenues for growth and development, boosting the entire real estate market in Zirakpur. The sector is sure to see increased interest in areas that are now more accessible.” said Er. Aditya Aggarwal, Director – Sales and Marketing,El Spazia.

The PR-7 Airport Road is expected to be a key driver in boosting real estate growth in the region, with developers anticipating a sharp increase in demand for residential and commercial properties.

Piyush Kansal, Executive Director of Royale Estate Group, added, “The PR-7 Airport Road project is a major step toward enhancing connectivity in Zirakpur. This development will provide seamless access to key areas like Panchkula, Mohali, and Chandigarh, significantly improving residents’ ease of commuting. We believe this enhanced connectivity will greatly benefit both the community and ongoing regional developments.”

As infrastructure improves, the sector looks forward to a major boost to property values, making the region an attractive investment location for discerning buyers.

Autonom8 Partners with Matrix to Automate End-to-End Physical Audits

Chennai, 4th October 2024 – Autonom8, a GenAI-powered automation provider, partners with Matrix to automate its end-to-end physical audits. Matrix is a trusted name in the Audit and Business Assurance and Employee Background Verification space. It serves various industry verticals, including FMCG, Retail, Consumer Durables, IT, ITES/BPO and BFSI.

“Matrix was among the earliest players to adopt the use of a digital platform in the employee background verification space and continues to explore and accelerate digitisation opportunities across its services using valued partners like Autonom8” said Ravishankar P, Matrix CEO

With Autonom8’s Audit platform, Matrix automates the entire audit workflow—from task assignment to real-time tracking and comprehensive report generation. Auditors use a mobile app to capture on-site data, enabling instant verification and reporting, ultimately delivering faster, more precise results for their clients.

“The Autonom8 platform has transformed how we conduct audits, allowing us to enhance operational efficiency and improve data accuracy,” said Harini Harikrishna, Senior Vice President of Operations (Audit & Assurance) at Matrix. “From audit scheduling to instant reporting, the platform helps us provide high-quality insights to our clients faster than ever.”

Key features of the A8 Audit Platform for Matrix include:

• Audit Scheduling and Management: Effortlessly plan and organize audits with real-time tracking and timeline management.
• Mobile App for Auditors: Auditors conduct audits on the go, documenting findings, capturing photos, and uploading evidence directly through the app.
• Instant Reporting: Reports are generated instantly upon audit completion, providing clients with actionable insights.
• Comprehensive Evidence Storage: All audit data, including images and documents, are securely stored for easy retrieval and a clear audit trail.
• Dynamic Dashboards: Gain visibility into audit performance with dashboards that track status and trends and generate custom reports.

 The Benefits for Matrix:

• Efficiency: Administrative tasks are minimized, allowing auditors to focus on value-added activities.
• Accuracy: Real-time reporting and evidence storage reduce errors and inconsistencies.
• Transparency: Clients have instant access to detailed audit reports, providing full visibility into findings.
• Scalability: The platform scales easily, from single-location audits to nationwide operations.

 “Our platform’s end-to-end automation empowers Matrix to achieve greater efficiency and deliver high-quality audits to its clients,” said Anupama Raghunath, Director of Projects at Autonom8. “This partnership demonstrates how automation can transform traditional audit processes, enabling faster, more reliable outcomes.”

FFPL Wins Prestigious ‘Iconic Brands of India 2024’ at the 7th Edition of ET Now Iconic Brands of India Awards

Pune, 4th October 2024– Fleetguard Filters Pvt Ltd, a leading manufacturer of filtration products and solutions catering to On & Off highway applications, has been awarded the prestigious “Iconic Brands of India 2024” at the 7th Edition of ET Now Iconic Brands of India Awards held on 26th September 2024 at Mumbai. The award was received by Mr. Niranjan Kirloskar Managing Director Fleetguard Filters Private Limited along with Mr. Piush Srivastava Head of Marketing and Corporate Communications and Ms. Gauri Pansare Senior Executive from Corporate Communications.

The event celebrates brands that have driven national growth through innovation, sustainability, and global impact. Fleetguard’s inclusion highlights its commitment to excellence and leadership in the automotive sector.

Speaking on the occasion, Mr. Niranjan Kirloskar, Managing Director, Fleetguard Filters Private Limited (FFPL), said, “We are truly honored to be recognized among the Iconic Brands of India. This achievement reflects the dedication of our team and our commitment to delivering innovative, sustainable solutions to the automotive industry. We are committed to driving progress and setting new benchmarks in quality and service for our customers. Our focus has pivotally been bringing value to our customers which has been a driving force since inception. This award is a testimony of our team’s relentless efforts and a constant pursuit of growth always defying our own benchmarks in the industry.”

This recognition adds to Fleetguard’s growing list of accolades, further establishing its position as a leader in the automotive industry. The company remains dedicated to advancing innovation and providing solutions that consistently meet the changing needs of its customers.

Aakash Aath Celebrates Mahalaya and Durga Puja with Cultural and Culinary Extravaganza

Kolkata, 4th October, 2024: Aakash Aath, one of the popular General Entertainment Channels, is all set to celebrate Mahalaya and Durga Puja this year with a vibrant line up of special programs in their renowned TV Shows, Good Morning Aakash and Radhuni. The onscreen festivities will commence with the 8th edition of the night-long musical extravaganza Raat Pohalo Sharodo Praate.

“Mahalaya marks the beginning of Debi Pokkho and reminds us all of Maa Durga’s triumph over evil. It is a moment of immense pride for the entire Aakash Aath family as our unique initiative, Raat Pohalo Sharodo Praate enters its 8th year. This continued success is owed entirely to our audience, whose unwavering love and support have driven us forward. We hope that once again, our viewers will cherish this enriched cultural and culinary offering on the joyous days of Durga Puja,” said Ms Priyanka Bardia, Director, Aakash Aath.

This special night-long live musical extravaganza, Raat Pohalo Sharodo Praate, will showcase the significance of women during Durga Puja. The show will seamlessly blend songs, stories and performances, bringing together the essence of feminine strength. Featuring popular songs, traditional folk music and devotional hymns, the program will include performances by the artists, Swagatalakshmi Dasgupta, Shampa Kundu, Sohini Mukherjee, Arpita Chakraborty, Doel Goswami, Shampa Biswas, Porshia Sen, Shreya Saha, Anindita Chanda and Trisha Parui.

As a part of the Durga Puja celebrations, Good Morning Aakash will feature special episodes filled with enthralling musical performances by well-known artists. On Mahalaya, one of the most popular singers, Ms Jayati Chakraborty will enchant the audience with her soulful voice. The following days of Durga Puja, Aakash Aath will be presenting performances by the talented artists, including the very popular actress Surangana Bandapadhayay accompanied by singer Saptak Sanai Das on Shasthi.

“Performing on Mahalaya is a sacred tradition for me. As I perform on this pious day, our audience can feel the essence of Durga Puja coming alive, filling our heart and soul with devotion, hope and positivity,” said singer Ms Jayati Chakraborty.

“On the auspicious occasion of Sashthi, it is my privilege to perform on the platform of Bengal’s one of the oldest and longest running popular morning musical shows, Good Morning Aakash. My performance will celebrate the divine and serene spirit of Bengal’s much awaited festival, Durga Puja. I hope I will be able to impart unending joy, inspiration and enthusiasm to all who will be watching,” said actress and singer, Ms Surangana Bandyopadhyay.

The folk band Dohar will be seen performing on Saptami and Aritra Dasgupta, Chandrika Bhattacharya, Shuchismita Chakraborty and Abhishek Sinha Chowdhury on Ashtami. On Nabami and Dashami, viewers will be treated to performances by Surojit Chatterjee and Neepabithi Ghosh followed by a special Bijoyar Adda episode featuring Shreyan Bhattacharya, Aruna Das and Sharmistha Debnath.

In addition to the musical celebrations, Radhuni will present a unique series of festive culinary spreads dedicated to the extraordinary Durga Puja recipes inspired from Bengal’s famous Bonedi Baris, some of which have celebrated over 100 years of this grand festival. On the afternoons of Sashti, Saptami and Nabami special hosts Sree Basu and Debi Saha will welcome the Chefs, Sreyashi Roy, Binita Hajra, Emili Bose and Kakoli Mukherjee to showcase the making of the attractive festive spreads Fulkapir Badam Bahar, Thanda Ghol, Shuktani, Anarasher Tak and the Durga Puja special Mutton Curry.

The Ashtami and Dashami episodes will feature actress Bashabdatta Chatterjee with chefs Kaushik Mukherjee, Durba Mukherjee, Deborshi Roychoudhury and Sucharita Roychoudhury sharing the affluent and traditional recipes of Durga Puja special Machher Jhal, savoury Tetuler Tok and Saborno Prabhashini Halua.

Raat Pohalo Sharodo Praate will be broadcast LIVE from Aakash Aath’s studio from 9:30 pm on 1st October, 2024 until 7:30 am the following morning. Good Morning Aakash will be telecasted from 7.30 am till 9.30 am every morning and Radhuni will be telecasted from 1.30 pm every afternoon.

BPCL’s MAK Lubricants Supports India’s Green Steel Vision at MMMM 2024

New Delhi/Mumbai, 1st October, 2024 – Bharat Petroleum Corporation Limited (BPCL), a Maharatna and India’s second-largest government-owned downstream oil producer, actively participated in the MMMM 2024, a prestigious event focusing on innovations in metal production and sustainable practices in the steel industry. The event, inaugurated by Hon’ble Minister of State for Steel and Heavy Industries, Sri Bhupathiraju Srinivasa Varma, brought together global leaders, industry experts, and key stakeholders from the steel and metal industries.

The event, hosted at Yashobhoomi from September 27 to September 29, 2024, included an international conference on “Process & Product Innovations in Metal Production” and an open seminar on Green Steel Production. Organized by Hyve India Ltd., IIM Delhi Chapter, Metalogic PMS, and the World Metal Forum, the event was a crucial platform for discussing technological advancements and sustainability in the steel sector.

Speaking on the occasion, Hon’ble Minister of State Sri Bhupathiraju Srinivasa Varma lauded the remarkable progress in steel production, with global capacity nearing 2.5 billion tonnes, and India’s significant role as the world’s second-largest steel producer with a capacity of 178 million tonnes in FY’24. He emphasized that the steel sector is at a pivotal moment, with future growth being driven by digitalization and sustainability. The Minister highlighted India’s commitment to reducing carbon emissions, reiterating the promise made by Prime Minister Narendra Modi at COP26 to cut carbon intensity by 45% by 2030 and achieve Net Zero emissions by 2070.

With the steel industry contributing 12% of India’s total emissions, BPCL is aligned with the Government’s vision of decarbonizing the sector. As a key player in the energy landscape, BPCL, through its MAK Lubricants, is committed to supporting the steel industry’s growth and sustainability initiatives.

Shri Subhankar Sen, Business Head (Lubes) at BPCL, emphasized the importance of MAK Lubricants in the ongoing transformation of the steel industry, he said;

“Steel production in India is projected to grow from 140 million tonnes to 300 million tonnes by 2030 at an impressive CAGR of 9.2% and steel industry has been a force multiplier in India’s manufacturing and infrastructure growth story. MAK Lubricants from Bharat Petroleum Corporation Limited is complimenting steel industry’s increasing focus on sustainable practices through its MAK Hydrovis series, MAK Amocam Plus series, MAK Syngear series, MAK Steel grades, MAK Multiplex CS2 grease, MAK Hitemp Xtra grease etc all of which are designed to offer perfect lubricant solutions for facilitating the steel sector’s adoption of sustainable practices. With best-in-class MAK lubricants, we are confident that overall efficiencies in the form of lower total cost of ownership will compliment the larger purpose of value creation for the industry, economy and environment.”

During the event, the Minister of State also released the Conference Volume and Souvenir of the International Conference on Process and Product Innovations in Metal Production, organized by the Indian Institute of Metals-Delhi Chapter. The discussions throughout the event centered on innovations such as energy efficiency, green hydrogen, carbon capture, and the shift from coal-based DRI to natural gas-based DRI, all aimed at reducing the carbon footprint of the steel industry.

Eximius Ventures and WeWork Labs Launch “The Pre-Seed Playbook” to Empower Early-Stage Entrepreneurs

National, 4th October:- Eximius Ventures, India’s premier pre-seed fund, has partnered with WeWork Labs to launch The Pre-Seed Playbook: A Guide to Raising Pre-Seed Funding in India. As India’s startup ecosystem experiences unprecedented growth, early-stage founders still face challenges while securing initial funding to bring their ideas to life. To address this critical need, Eximius Ventures and WeWork Labs have introduced the first comprehensive resource focused on pre-seed funding in India.

The playbook offers valuable insights into navigating the evolving pre-seed landscape, where smaller cheque sizes, drip capital, and backing unconventional founders have become vital. With this emerging asset class often misunderstood, the playbook arrives at a crucial moment to provide clarity and support to founders. With growing cheque sizes at the seed stage, early-stage founders are under enormous pressure to scale quickly, often at the expense of long-term sustainability. This haste to expand has caused numerous firms to reach the “valley of death,” a critical period in which a lack of early finance leads to hasty scaling, unsustainable growth ambitions, and eventual collapse. This issue is particularly acute in India, where the startup ecosystem is still emerging and institutionalised pre-seed investment is rare.

A recent poll of over 500 founders found that, while 83% are ready to secure pre-seed capital, more than 60% struggle to connect with suitable investors. Furthermore, more than 70% identified credibility as a major barrier, particularly for first-time founders. This data underlines the critical need for organised pre-seed support, which is currently underserved in India’s developing finance sector.

“Our goal with this playbook is to demystify the pre-seed stage, which is often the most challenging phase for founders,” said Pearl Agarwal, Founder and Managing Partner of Eximius Ventures. “Pre-seed is about more than just capital; it’s about providing founders with the right guidance, networks, and resources to build a solid foundation for their startup. This guide is our effort to support India’s next wave of entrepreneurs and fuel the country’s entrepreneurial ecosystem from the ground up.”

The increasing inflow of capital into later-stage investments in India has unintentionally increased the funding gap for early-stage entrepreneurs. While capital available for seed and subsequent fundraising rounds has increased, pre-seed financing is under-represented continuously. This is an excellent opportunity for the ecosystem to focus on developing pre-seed firms, resulting in a solid pipeline of low-risk ventures ready for larger investments.

The Pre-Seed Playbook is more than just a handbook; it’s a thorough plan to help founders secure their first cheque and set a solid platform for long-term success. It delves deeply into the pre-seed stage’s specific issues, providing insider insights, strategic frameworks, and expert comments. The playbook guides founders with actionable tactics for overcoming major challenges such as locating the proper investors, fine-tuning their pitch, and dealing with rejections—critical areas where many first-time entrepreneurs struggle. Using this resource, founders can avoid typical pitfalls and position themselves for long-term growth.

“India’s startup ecosystem has evolved significantly, but the pre-seed stage remains underserved,” said Arvind Radhakrishnan, Head of WeWork Labs, WeWork Labs. “This playbook is an essential resource for founders who need guidance on navigating this complex yet pivotal stage of their startup journey. We’re excited to make this resource available at WeWork Labs locations across India, further strengthening our commitment to supporting early-stage entrepreneurs.”

Tide India appoints founding Chairperson of IFSCA Mr. Srinivas Injeti as Non-Executive Director & Chairperson of the Board

Tide India, a leading business financial platform for MSMEs, today announced the appointment of former IAS officer Mr. Srinivas Injeti as Non-Executive Director and Chairperson of its Board. Ex-RBI officer Mr. Ajaya Kumar Sahoo has also been appointed as Senior Advisor to the Board. These appointments support Tide’s commitment to driving sustainable, compliance-first business growth, as the company continues to build simple and powerful tools to help small businesses start and grow their business.

Mr. Injeti brings expertise in regulatory frameworks, economic reforms, and financial oversight through his work of over four decades across various ministries in the Government of India. A 1983-batch IAS officer, he has been the first Chairperson of the International Financial Services Centres Authority (IFSCA). He also served as a director on the LIC Board and in his role as an ex-officio member of SEBI.

As Director FIPB (Foreign Investment Promotion Board) in the Government of India, Mr. Injeti played a pivotal role in landmark reforms, including the liberalisation of the Foreign Direct Investment (FDI) policy and industrial policy reform. In his role as a Union Secretary to the Government of India in the Ministry of Corporate Affairs, he was instrumental in driving implementation of the Insolvency and Bankruptcy Code (IBC), and strengthening the regulatory framework for independent directors.

Mr. Injeti’s contributions have reshaped the governance landscape, from deregistering shell companies to setting up the National Financial Reporting Authority (NFRA). He also held positions as Industries Secretary in the Government of Odisha, Additional Chief Secretary in charge of infrastructure development in Odisha, Chairperson of the National Pharmaceuticals Pricing Authority at the Centre, and the Union Sports Secretary & Director General, Sports Authority of India.

Mr. Ajaya Kumar Sahoo, a former senior Reserve Bank of India (RBI) officer with nearly four decades of experience, brings expertise in financial regulation, strategic management and regulatory compliance. At RBI, he played a critical role in overseeing licensing and inspections of Non-Banking Financial Companies (NBFCs), Asset Reconstruction Companies (ARCs), and banks. During this tenure, he has worked in various departments such as Deposits Account Department, Currency Verification and Processing System, National Clearing Cell, Rural Planning and Credit Department.

Gurjodhpal Singh, CEO, Tide India said, “We are happy to welcome Mr. Srinivas Injeti and Mr. Ajaya Kumar Sahoo to our team. Their unparalleled expertise in regulatory frameworks and financial services will enhance our strategic decision making capabilities, while aligning with our compliance-first approach. With their presence, we will continue to enhance financial inclusion for MSMEs. Together, we are committed to empowering small businesses and contributing to India’s socio-economic growth.”

Mr. Injeti brings extensive experience and knowledge in the financial services domain and has been a key contributor to the sector’s evolution. His expertise will be invaluable in strengthening Tide’s position within India’s evolving fintech ecosystem and ensuring the company remains ahead in the dynamic regulatory landscape.

Mr. Srinivas Injeti said: “I am delighted to join Tide in India and collaborate with its leadership team to address the key challenges faced by MSMEs. I fully align with Tide’s vision that growth must not come at the expense of compliance. Together, we will work to unlock India’s next phase of growth by digitally empowering Bharat.”

Mr. Sahoo will focus on enhancing corporate governance, developing key partnerships, and ensuring robust operational practices that drive growth and transparency within the organisation.

Mr. Ajaya Kumar Sahoo said: “I am excited to join Tide in India at a time when fintech innovation is transforming the financial services landscape in India. The regulatory environment in the world’s third largest fintech ecosystem is evolving to promote responsible innovation. I look forward to contributing to the company’s vision as it continues to leverage technology to help small businesses become part of the formal economy.”

Meri Policy Mere Haath Campaign Returns: Ministry of Agriculture Launches 6th Edition from October 1-31, 2024

New Delhi, 4th October 2024 – The Ministry of Agriculture & Farmers Welfare, Government of India, is set to launch the 6th edition of the Meri Policy Mere Haath (MPMH) programme from 1st October to 31st October 2024. This nationwide campaign will cover 21 states and Union Territories across India and aims to deliver more than 4.5 crore crop insurance policy documents to farmers across the country.

 This proactive step ensures that all insured loanee farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY) receive their policy documents physically, making crop insurance coverage tangible and transparent. The initiative is designed to empower farmers with the knowledge and understanding of their crop insurance policies, enabling them to make informed decisions for their agriculture practices.

As compared to the Kharif 2023 season, which saw 8.65 crore applications insured under the PMFBY, this year has recorded a significant increase with over 9 crore applications insured, reflecting the growing interest and trust of farmers in the crop insurance scheme.

To further enhance awareness, the GoI will also organize Nukkad Naataks in regions with low awareness of crop insurance, along with Fasal Bima Pathshalas for training farmers and handling their grievances. These community-level engagements will provide farmers with crucial information about the benefits of crop insurance and guide them on how to utilize it effectively.

With the impacts of climate change and unpredictable weather patterns becoming more evident, the MPMH programme aims to underscore the importance of long-term financial security for farmers. Crop insurance is crucial to mitigate unforeseen risks and losses due to climatic fluctuations, ensuring that farmers are protected and can maintain their livelihood.

The GoI remains committed to ensuring that all farmers, regardless of their geographical location, have access to crop insurance and can make informed decisions to secure their crops and livelihoods.