Category Archives: News

Mashreq Expands Partnership with Mindgate Solutions to Transform Corporate Collections Globally

Mumbai, 20 September 2024 – Mashreq, one of the leading financial institutions in the MENA region, has successfully completed the UAE implementation of its Corporate Collections transformation in partnership with Mindgate Solutions, a global leader in payment technology and transaction processing. This partnership marks a significant milestone as Mashreq extends the VTransact DigiTB Corporate Collections Suite to its global markets.

The VTransact DigiTB Corporate Collections Suite is an innovative, scalable platform designed to empower Mashreq’s Corporate clients’ real-time collections through both digital and physical channels. Its microservices architecture enables it to function as a multi-country, multi-tenant solution, fostering an inclusive and sustainable financial ecosystem. The platform offers seamless, real-time settlement of collections and integrated reconciliation of receivables. This pioneering solution ensures that businesses of all sizes can access cutting-edge, scalable financial tools, further enhancing Mashreq’s corporate collections portfolio.The expansion of this partnership was formalized by Mohamed Abdel Razek, Group Head of Technology, Transformation & Information at Mashreq, and Sajeev Kumar, Head of Corporate & Enterprise Risk Technology at Mashreq, alongside George Sam and Guhan Muthuswamy, Co-founders of Mindgate Solutions.

Mohamed Abdel Razek, Group Head of Technology, Transformation & Information at Mashreq said, “We are proud to have initiated this global success story with Mindgate by launching the VTransact DigiTB Corporate Collections Suite in the UAE. Today, I am excited to announce the expansion of our partnership into new markets. This transformation journey will extend across our global footprint, providing each country with a solution tailored to meet specific regulatory and infrastructure needs.

George Sam, Co-founder & Business Head, Mindgate Solutions said, “We really appreciate how the Mashreq is fully leveraging our product’s capabilities to support their expansion plans. We are also pleased to know that this implementation is enhancing the bank’s corporate collections process and supporting its business growth. We look forward to achieving more milestones in this partnership journey. With a global footprint that includes over 10 leading financial institutions in the MENA region, Mindgate is excited about expanding with Mashreq into new geographies and aims to become the preferred partner in the transaction banking and payments space”.

Guhan Muthuswamy, Co-founder & Software Architect, Mindgate Solutions added, “We are delighted to support Mashreq Bank as their transformation partner, guiding them through their transformation journey with VTransact DigiTB. This advanced platform ensures the bank swiftly adapts to evolving customer and market demands, as well as regulatory requirements. With VTransact DigiTB, we aim to empower Mashreq Bank to lead the industry by leveraging cutting-edge technology for enhanced efficiency, security, and customer satisfaction. The VTransact DigiTB Corporate Collections Suite is part of our comprehensive range of end-to-end Transaction Banking products, which includes cash management, payments, collections, and liquidity management.”

Mindgate Solutions has been at the forefront of the payment’s revolution from its inception, establishing itself as a key global player in payments technology and transaction processing. The company has led the way in developing next-generation payment gateways and mobile-based collections platforms. Mindgate Solutions continues to be a leader in the payments space.

Cushman & Wakefield Report: Malls Transforming Through Experience and Innovation

20th Sept 2024: Cushman & Wakefield’s recent report on malls highlights the evolving landscape of retail spaces, emphasizing how consumer preferences and shopping habits have shifted dramatically in recent years. With the rise of e-commerce and changing demographics, traditional malls are facing significant challenges, prompting many to rethink their strategies. The report notes that successful malls are increasingly focusing on creating experiential environments that blend retail, dining, and entertainment. This approach not only attracts foot traffic but also fosters community engagement, allowing malls to remain relevant in a competitive market.

 Moreover, the report identifies key trends shaping the future of malls, such as the integration of technology and sustainable practices. Many malls are adopting smart technology solutions to enhance customer experiences, from personalized shopping recommendations to contactless payment options. Additionally, there is a growing emphasis on sustainability, with many properties investing in green initiatives to appeal to environmentally-conscious consumers. As a result, the report suggests that malls that innovate and adapt to these trends will be better positioned to thrive in the evolving retail landscape.

 Sanju Bhadana, MD, 4S Developers

 The massive rise in residential real estate driven by economic growth and growing prosperity amongst Indians is generating more demand for malls. Markets like Gurugram have been taking the lead and the coming years will witness stupendous growth in all segments of real estate sector favoured by Government’s policy and focus on infrastructure development. The rising income levels and propensity to spend will create more demand for grade A malls in India especially Gurugram.

 Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd

 India’s retail market is witnessing robust growth with consumers more inclined toward Grade A malls. The top-grade malls are increasingly emerging as cultural and community-focused hubs rather than just shopping and entertainment destinations. As such, they are well-positioned to shape the future of organized retail in India. Amid the rising aspirational population, the demand for top-notch quality retail spaces is set to rise phenomenally particularly in places like Gurugram, as more and more people prefer a one-stop solution that offers a combination of top-notch shopping experience, entertainment, ambience, and community engagement all at a one place.

AiSensy Wins ‘CTWA Partner of the Year 2024’ Award at WhatsApp Business Summit

India, 20th September 2024 : AiSensy, the leading WhatsApp-based Marketing & Engagement platform, has bagged the prestigious award for Click to WhatsApp Ads Partner of the Year 2024 at the WhatsApp Business Summit 2024 by Meta. The summit was held at Jio Convention Centre with the participation of over 1,000 delegates. Some of the companies that attended the summit are Axis Bank, Nykaa, Tata Motors, Groww, Reliance Digital, and several more. An award for excellence speaks volumes about AiSensy’s outstanding contributions to WhatsApp Business Solutions, especially in revolutionizing ads that click to WhatsApp for businesses.

As the first WhatsApp Business Solutions Partner to implement natively-supported Ads that click to WhatsApp, AiSensy is empowering businesses to simply create and run ads that click to WhatsApp from its dashboard, manage leads and re-engage customers through broadcasts and chatbots. The company’s latest innovation, AI Ad Campaign Manager, has revolutionized the way businesses target audiences. Businesses have seen 5 times more leads at the same ad budget and 3 times revenue growth with AI-driven audience optimization.

“We are highly elated to receive the Click to WhatsApp Ads Partner of the Year award from Meta. From being awarded “Emerging Partner of the Year 2023” to “Click to WhatsApp Ads Partner of the Year 2024” it has been a rollercoaster ride. This award really goes out to the excellent efforts our team has been putting through for the last few years.”, the CEO & founder of AiSensy, Mr Gautam Rajesh Shelley, said. ”Our AI Ad Campaign Manager has been helping 5000+ businesses run ads that click to WhatsApp and we’ve driven over 100 Cr+ in revenue for them via these ads. I still feel this is just a beginning.”

Whatsapp Business Summit 2024:

WhatsApp Business Summit was the largest WhatsApp event hosted by Meta on 12th September 2024. The event included major product launches of WhatsApp alongside inspiring sessions on how the topmost organisations are using WhatsApp to improve customer engagement and drive conversions. Case studies from brands like HDFC Bank, Juicy Chemistry, and Grab demonstrated the power of WhatsApp as a marketing channel. A number of new strategies for engaging with customers on WhatsApp were shared to help the brands connect with them effectively.

SBI General Insurance Partners with BLS E-Services to Expand Reach and Streamline Access to Insurance Across India

Mumbai, September 20, 2024: SBI General Insurance, one of India’s leading general insurers, has entered into a strategic partnership with BLS E-Services to deliver essential insurance products to a broader range of customers across India. This collaboration is set to expand SBI General Insurance’s footprint, particularly in rural and regional areas, offering customers innovative products such as Hospicash, vehicle insurance, personal accident insurance, and shop insurance.

Hospicash, a flexible income protection plan that offers daily hospitalization benefits to those who are primarily earning their livelihood daily and giving a security of not losing on it. Customers can choose between ₹1,000 and ₹2,000 daily benefits, tailoring the coverage to their specific needs to secure their financial well-being during medical emergencies.

Through this partnership, SBI General Insurance strengthens its mission to deliver tailored insurance solutions to diverse customer segments. By leveraging BLS E-Services’ network of over 40,000 customers, SBI General Insurance can now offer its products more efficiently, especially in underserved communities. Customers will benefit from:

● Easy access to a wide range of insurance products

● Simplified policy management through BLS E-Services

● Faster claim processing and enhanced customer support

SBI General Insurance spokesperson Ms. Priya Sampath Kumar said, “Our partnership with BLS E-Services isn’t just about expanding our reach – it’s about reimagining the insurance experience for the digital age. We’re excited to leverage BLS’s innovative platform to create more personalized, responsive insurance solutions. This collaboration will allow us to gather real-time insights into customer needs, driving product innovation and setting new benchmarks in customer-centric insurance services.”

Commenting on the partnership, Mr. Shikhar Aggarwal, Chairman, BLS E-Services said, “This collaboration represents a pivotal moment in our journey towards financial inclusion. By bringing insurance products, we’re not just facilitating transactions – we’re empowering individuals and businesses also to secure their futures with confidence. This is about transforming the way India thinks about and accesses insurance.”

Juju Baby Music Drops ‘Folk Outta The Box’ EP, Reviving Folk with a Twist

National, 20th September 2024: Juju Baby Music – operating under the banner of Artium Originals – is excited to announce the release of its newest EP, ‘Folk Outta The Box’, an innovative project that breathes new life into the timeless genre of folk music. This groundbreaking collection features fresh reinterpretations of traditional melodies, aiming to captivate both seasoned folk enthusiasts and a younger audience that craves fusion and contemporary sounds.

In a series of weekly releases starting from 11th September, Juju Baby Music will drop one track every Wednesday, giving listeners a steady dose of fresh folk vibes and anticipation for what’s next. Each song in the EP is designed to connect deeply with its audience, blending the familiar warmth of heritage with contemporary flair.

At its core, ‘Folk Outta The Box’ aims to bridge heritage and modernity by reimagining folk tunes for both traditional festivals and contemporary spaces like clubs and live venues. This EP envisions a future where timeless melodies align with today’s tastes, reaching a diverse audience. Juju Baby Music has also harnessed the power of AI technology to create unique visuals for each track, showcasing the potential of tech in music.

The EP includes five dynamic tracks with a rich mix of regional flavours, brought to life by some of the most talented young folk artists from across India. ‘Banna Re’, sung by Pinky Maidasani, captures the vibrant essence of Rajasthan with a fresh, contemporary twist; ‘Mitti Da Bawa’, performed by Swarjit Singh, embodies the lively spirit of Punjab, blending traditional folk with a modern flair; ‘Rongobati’, delivered by Jyoti Prakash, blends traditional Oriya elements with innovative sounds, celebrating the cultural depth of Odisha; ‘Shundori Komola’, brought to life by Sagnika Saha, offers a contemporary take on Bengali folk, highlighting the artistic richness of Bengal; and ‘Vadalri’, performed by Aneri, combines traditional Gujarati melodies with modern rhythms, creating a fresh and engaging sound.

Gourov Dasgupta, renowned Music Composer/Producer and Director of Juju Baby Music, said, “With ‘Folk Outta The Box,’ we wanted to reimagine the essence of folk music while preserving its soul. Our goal was to create something that resonates with today’s listeners while celebrating the rich heritage of our traditional sounds. This EP is about embracing our roots and presenting them in a way that feels fresh and relevant for a new generation.”

Vivek Raicha, Co-Founder and CEO of Artium Originals, added, “At Juju Baby Music, we believe that music is a powerful storyteller, and with ‘Folk Outta The Box’, we’re not just sharing songs, we’re sharing heritage in a way that speaks to the present. This project is a celebration of India’s rich folk traditions, reimagined for today’s world. By blending age-old melodies with modern rhythms, we’re creating an experience that honours the past while embracing the future. We hope this EP resonates with listeners of all ages, sparking a new appreciation for the timeless beauty of folk music.”

Juju Baby Music invites listeners to embark on a musical journey like no other. ‘Folk Outta The Box’ isn’t just an EP—it’s a bridge between the past and the present, a vibrant showcase of India’s cultural tapestry.

Empowering Future Champions and Nurturing Grassroots Talent

Roots Foundation & Hyundai Motor India Foundation is spearheading transformative initiatives in Punjab and Haryana with its innovative Sports Lab project 2024, which stands as a leading effort in enhancing the prospects of underprivileged children in the sports sector. This unique program offers extensive training, state-of-the-art equipment, and robust support to expose young talents to a wide array of sports. By aiming to elevate these athletes to international standards, Roots Foundation is committed to boosting India’s global sports stature.

Mr. Ritwik Bahuguna, the visionary Founder of Roots Foundation. His organization is dedicated to uplifting the underprivileged through innovative interventions in, Skill Development, and Community Development. Roots Foundation has garnered noteworthy success and is making a tangible difference in the lives of those in need.

ROOTS Foundation believes every child has the right to play. Recognizing the connection between healthy bodies and happy minds, they provide essential playing facilities in their communities. Their mission extends beyond promoting physical activity; they aim to discover and nurture exceptional grassroots sporting talent.

Among the project’s remarkable successes, former students such as Ms. Kiran Godara and Ms. Sangeeta Malik have emerged as shining examples. Ms. Godara, an Indian freestyle wrestler, achieved a bronze medal in the women’s 76kg freestyle wrestling category at the 19th Asian Games 2023 in Hangzhou, China. The initiative has made a significant impact, providing over 7,000 aspiring sportspersons with a platform to realize their potential and shine on the international stage.

Kiran Godara, Indian Freestyle WrestlerBronze Medalist Asian Games 2022, Bronze Medalist Commonwealth Games 2018, Gold Medalist Commonwealth Wrestling Championships 2017 and Brand Ambassador, Project Sports lab, says, “I am Kiran Godara, a bronze medalist at the Asian Games. My journey in wrestling began in 2010. Before that, I was studying in my village with my grandfather. I was good at academics, so I initially wanted to pursue education and excel in that field. However, my grandfather encouraged me to advance in wrestling alongside my studies. It was because of him that I entered this field. Following the path he showed me, I started my career in sports. Unfortunately, he passed away four months later, but I have continued striving to fulfil the dream he had for me.

In 2011, I won a silver medal at the Junior Nationals. Following that, I was selected for the India camp. The next year, in 2012, I won a gold medal at the Junior Nationals and was selected for the Asian Championship. In my first international tournament, I secured a bronze medal, which gave me the confidence that I could win a medal on a grand stage like the Olympics.

In 2013, I suffered an injury that took me one and a half years to recover from. But I didn’t give up. After undergoing knee surgery, I made a comeback in 2015 at the Senior Nationals and won a gold medal. This victory gave me such encouragement that I was able to forget my injury. I felt that I was now fitter than ever and capable of preparing even better for the future.

From 2015 onwards, I consistently won gold medals at the Senior Nationals. In 2017, I won a gold medal at the Commonwealth Championship, and in 2018, I won a bronze medal at the Commonwealth Games. In 2020, due to the pandemic, I couldn’t qualify for the Olympics. After that, I set my sights on the Asian Games and began my preparation, which led to me winning a bronze medal at the Asian Games.

I want to sincerely thank Roots Foundation and Hyundai Motor India Foundation’s Project Sports lab for supporting me during competitions, ensuring I had the necessary resources in terms of finance and equipment. Playing a dual role in the Sports lab project, I not only competed at the highest levels, like the Asian Games but also engaged with students in Government schools in Haryana and educated parents on supporting their children’s sports journey.”

Axis Bank join forces with Pension Fund Regulatory and Development Authority to Launch ‘NPS Vatsalya Scheme’

Chandigarh, 20 September 2024: Axis Bank, one of India’s leading private sector banks, has joined hands with the Pension Fund Regulatory and Development Authority (PFRDA) to launch National Pension Scheme (NPS) – Vatsalya, a scheme focused to secure the financial future of children below 18 years. As announced by Hon. Finance Minister – Nirmala Sitharaman during the 2024 Union Budget, the initiative is a key step towards empowering families in planning long-term financial security for their children.

At the launch event held in Delhi, Hon. Finance Minister Nirmala Sitharaman, presented a symbolic Permanent Retirement Account Number (PRAN) to Ms. Lamba Karnam Aaditri from Hyderabad, who was selected by Axis Bank. As a part of the initiative, Axis Bank opened total 17 NPS Vatsalya accounts and handed over symbolic PRANs to the children. The senior Bank officials handed over symbolic PRANs and opened NPS Vatslaya accounts for around 16 children in Bangalore and Ahmedabad.

Speaking about the initiative, Mr. Amitabh Chaudhry, MD&CEO, Axis Bank said, “It’s a proud moment for us to be a part of this great mission led by the Government of India towards building a strong pensioned India. This initiative offers a structured and flexible path for wealth creation targeting the future generations of the country, thereby nurturing a financially resilient society. We believe that this will enable parents/ guardians from all socio-economic backgrounds to gain access to valuable tools for securing their children’s financial future, providing them with a strong foundation to build their dreams and aspirations.”

The NPS Vatsalya scheme will provide parents and guardians with a range of investment opportunities and pension fund options to invest in their child’s financial future. Upon reaching 18 years of age, the NPS Vatsalya account of the beneficiary will seamlessly convert into a regular NPS account, securing lifelong benefits. To open an account, parents or guardians must provide essential documents such as Know Your Customer, the child’s birth certificate, and proof of identity.

This initiative underscores Axis Bank’s deep-rooted commitment to driving financial inclusion and enhancing the financial well-being of future generations. The NPS Vatsalya initiative is aligned with the Bank’s mission to build a strong pensioned India, ensuring long-term financial security for families across the country.

IREDA to Raise Approx. Rs4500 Crore Through Fresh Equity Issue; Govt Shareholding to be Diluted via QIP

Mumbai, 20th September 2024:

Indian Renewable Energy Development Agency Limited (IREDA) today received approval from the Department of Investment and Public Asset Management (DIPAM) for raising approximately ₹4500 crore through fresh equity issue.

The approval was granted by DIPAM based on the recommendations of a High-Level Committee. The fund-raising will be carried out through the Qualified Institutions Placement (QIP) route, with a planned dilution of the Government of India’s shareholding in IREDA by up to 7% on a post-issue basis, to be executed in one or more tranches.

The fund-raising exercise aims to strengthen IREDA’s capital base, enabling the organization to scale its financing for renewable energy projects and further accelerate India’s transition to clean energy.

Commenting on this approval, Shri Pradip Kumar Das, CMD, IREDA, said, “DIPAM approval represents a critical step forward in our expansion plans. With fresh capital infusion, we will be better positioned to support India’s ambitious renewable energy goals and continue playing a pivotal role in financing clean energy projects across the country.”