Category Archives: News

PCAF Announces StepChange as First Regional Partner to Support the Indian Financial Market

Bengaluru, 23 August 2024: The Partnership for Carbon AccountingFinancials (PCAF) today announces its collaboration with StepChange, one of India’s leading sustainability platforms.

StepChange is the first regional partner in the Global South to be a part of PCAF’s accredited partner program, further strengthening PCAF’s presence in the region. The collaboration aims to bolster the transition to a more sustainable economy, which in turn would support long-term economic resilience, attract global investment, and deepen transparency and accountability.

The announcement represents the latest in a series of significant milestones for StepChange following its dual accreditation from the Global Reporting Initiative (GRI) and the IFRS Foundation – the first company in India to receive such recognition.

Through this strategic collaboration, PCAF and StepChange are strengthening the way financial institutions in the Global South, starting with India, can measure, manage, and report their carbon emissions and climate impact – facilitating the Indian market’s efforts to align with global sustainability goals.

Nagadarsan Suresh, Strategic Partnerships Lead for PCAF stated, “We are delighted to welcome StepChange as an accredited regional partner. The objective of our partner program is to equip solution providers like StepChange with the training and support needed to effectively support the financial sector with GHG accounting. The Indian market is in a very influential position globally and we are thrilled to play a part in supporting the country as it moves ahead in its transition to a more sustainable economy.”

“We are thrilled to be recognized as PCAF’s first regional partner in India and the Global South. This accreditation not only underscores our commitment to sustainability but also enables us to empower financial institutions in the region with the solutions and knowledge needed to navigate their decarbonisation and climate journeys effectively. We are excited to leverage this accreditation to build a more transparent and accountable climate action landscape in India and the Global South” – Ankit Jain, Co-Founder & CEO at StepChange added.

Recognizing the need to support consultancies, software and data providers guiding financial institutions in their efforts towards decarbonization, PCAF has developed an accredited partner program to provide organizations with access to the PCAF Database, as well as important technical assistance in the practical application of the PCAF Standard, among other benefits.

TOTO India Marks 10 Years of Excellence in Gujarat with New Expansion Plans

Gujarat, India – 23rd August 2024 – Celebrating a decade of excellence, TOTO India proudly marks the 10th anniversary of its state-of-the-art manufacturing plant in Halol, Gujarat. Since its inception in August 2014, the plant has been a cornerstone of TOTO’s vision for the Indian market, embodying commitment, innovation, quality, and sustainability.

The TOTO India Halol plant produces products that adhere to Japanese quality standards and has significantly contributed to the company’s growth, with output increasing by 400% since 2014 while maintaining high-quality production standards. Employing nearly 1,200 workers, 80% of whom are from the local community, the plant exemplifies the brand’s commitment to regional development and employment.

“India is a strategic market for TOTO, and we are excited about its immense growth potential,” said Mr. Shiozawa Kazuyuki, Managing Director, TOTO India Industries Pvt. Ltd. “The increasing urbanization, rising disposable incomes, and growing awareness of hygiene and wellness are driving the demand for premium bathroom solutions. We aim to strengthen our foothold in Tier-2 and Tier-3 cities by expanding our dealer network and introducing a wider range of products to cater to diverse consumer preferences.” The event showcased product innovations and growth trajectory, highlighting the company’s dedication to the Indian market and its work with the local economy.

TOTO India plans to enhance its regional presence and strengthen its dealership network through its Authorized Channel Partner (ACP) and Authorized Channel Dealer (ACD) programs. This strategy aims to expand the brand’s footprint in India, ensuring better accessibility and availability of its high-quality products nationwide. By increasing market penetration, especially in Tier-2 and Tier-3 cities, TOTO seeks to bring its innovative and sustainable sanitary ware solutions to a broader audience.

With plans to launch a new range of products, TOTO aims to meet the dynamic needs of Indian consumers, further solidifying its presence in the market. Additionally, the brand is set to launch a new collection of toilets, basins, faucets, showers and designed to meet the evolving tastes of Indian consumers. By combining its manufacturing prowess, innovative product portfolio, and expanded dealer network, TOTO aims to become the preferred choice for premium bathroom solutions in India.

Muthoot Microfin Opens its First Branch in Andhra Pradesh

Kochi, August 23, 2024: Muthoot Microfin, a leading microfinance institution in India, is proud to announce its foray in Andhra Pradesh with the opening of its first branch at Chodavaram. The inauguration ceremony took place in the distinguished presence of Mr. Udeesh Ullas, COO, Muthoot Microfin along with Mr. Subhransu Pattnayak, CHRO, Muthoot Microfin.

With the new branch, Muthoot Microfin has expanded its network to 20 states serving over 3.4 million customers. With this expansion, it aims to bring its expertise in micro-lending to Andhra Pradesh, fostering economic growth and development in the state.

The new branch will focus on empowering low-income households and women-owned businesses by offering financial services tailored to their needs. Prioritizing women entrepreneurs, the branch will provide income-generating loans and support to promote financial inclusion, helping them grow their small businesses, improve livelihoods, and contribute to their communities’ inclusive growth. The solutions are specifically designed to promote financial inclusion among women.

Commenting on this strategic move, Mr. Sadaf Sayeed, CEO, Muthoot Microfin, said, “The opening of the Chodavaram branch underscores our focus on providing accessible and affordable financial services to women. The branch will offer a range of microfinance solutions tailored to meet the specific needs of the local population, with a focus on quick turnaround times and hassle-free processing. With our maiden entry in Andhra Pradesh, we now have presence in all southern Indian states, and will continue to strengthen our position to better serve and empower the women in their quest to achieve financial independence”.

Ecom Express Unveils New Brand Identity

National, 23rd August, 2024: Ecom Express Limited (“Ecom Express”), India’s only pure-play B2C e-commerce logistics solutions provider as of the Financial Year 2024 (Source: RedSeer Report) operating a pan-India express logistics network, has unveiled a new brand identity. This transformation reflects the company’s conscious commitment to being customer-focused, including addressing specific customer category needs, a focus on customer-facing metrics and key result areas, and seamlessly integrating innovative technology across its pan-India express logistics network, achieving speed, agility along with the widest levels of network reach, to deliver a customer-focused approach.

This rebranding initiative features a vibrant, forward-thinking logo and a refreshed visual identity that symbolizes Ecom Express’s pursuit of excellence. The new logo, with its forward-moving arrow enclosed within a square, embodies the company’s commitment to deliver. The ingenious integration of the letter “E” stands for Expression, Innovation, and Progress, while the bold magenta color embodies the spirit of bravery, self-expression, and unyielding strength—. Ecom Express is reintroducing itself with a new identity and a vibrant color—Magenta. This rebranding represents a renewed commitment to their customers, partners, and team. Ecom Express is determined to simplify and democratize logistics for everyone, everywhere,.

Elaborating on the vision behind the transformation, Ajay Chitkara, CEO and MD of Ecom Express, said, “Ecom Express has consistently earned the trust and admiration of our partners, patrons, and customers. As we advance to greater heights, our refreshed brand identity signifies a reaffirmation of our customer-first approach. We are committed to integrating robust technology and innovation to deliver reliable, high-speed services with the widest network reach, all while optimizing operational efficiency and flexibility. He added, “This transformation also strengthens our commitment to our employees and delivery partners, who are fundamental to our business. Our new identity is a testament to our promise of excellence and dedication to redefining logistics through advanced technology aimed at making life easier for all types of customers.”

Ecom Express‘s new logo is a symbol of its commitment to core values. Each element of the logo embodies Ecom Express’s focus on enhancing customer welfare, and fostering a diverse and inclusive environment.

KLH ECE Students Commendable Performance at Tech Challenge

Hyderabad 23rd August: KLH Aziz nagar campus is thrilled to announce that a team of students from B. Tech Electronics and Communication Engineering (ECE) program has qualified for the grand finale of the AIM NXP 2024 challenge. Among 23 teams competing in the Hyderabad region, this team emerged as one of the top four, marking a significant achievement. The team members, Lakshmi Korti, Meghana, and Nousheen, have presented immense skill and innovation.

The AIM NXP 2024 challenge is a national competition that engages engineering students with AI, mobility, and robotics through project-based challenges involving the development of autonomous driving algorithms. This KLH team’s impressive performance in the regional finale, held at BITS Hyderabad, involved steering an autonomous driving model using advanced sensors and AI algorithms in a simulated environment. This effort secured their place in the grand finale and highlighted their capability in handling complex technological tasks with precision.

This KLH team, named BrainyBots, is now advancing to the grand finale. As they prepare for the national finals, the team will receive the MR-BUGGY Kit from NXP, which will allow them to test their algorithms on actual physical tracks. This progression sets the stage for potential further accolades.

Dr. G. Pardha Saradhi Varma, Vice Chancellor of KLH Deemed to be University, shared his thoughts on this achievement: “The progressive success of our students exemplifies the spirit of innovation and excellence that we nurture at university. Their journey from classroom learning to competing on a national stage reflects the caliber of education and mentorship provided at our university.” The students at the University are continuously engaged in intensive training covering simulation tools, AI/ML techniques, and autonomous driving concepts, followed by the design and development of an autonomous car model.

The Electronics and Communication Engineering (ECE) department at KLH focuses on a broad range of subfields, including VLSI, embedded systems, robotics, and IoT. It emphasizes practical skill development through simulation tools and algorithms for designing and fabricating electrical devices and systems. Under the leadership of Principal Dr. A Ramakrishna and Head of Department Dr. M Gowtham, the department aims to prepare graduates for professional excellence in diverse industrial and real-world applications.

Winmore Academy Partners with Rohit Sharma’s CricKingdom for Tailored Cricket Training in Bengaluru

Bangalore, 23rd August, 2024: At a time when the country is fast becoming a ‘Cricket Superpower’, Winmore Academy in the city is making the right moves to become the cradle for cricketing talent: The Whitefield-based school has collaborated with Indian skipper Rohit Sharma’s CricKingdom to provide scientific and personalised sports coaching to emerging players and explore hidden talents.

With this, Winmore Academy becomes the first school in Bengaluru to bring CricKingdom to the cricket-loving students in the city under the umbrella of Crimson Sport Academy with an aim to provide physical and digital access to international-level and professional expertise for a larger section of enthusiasts.

The collaboration will make Crickingdom the sole partner for cricket programs at Winmore Academy, managing, operating, and running the cricket programs, including the selection, and purchasing of products, and hiring and training of coaches. The cricket coaching program will include both during- and after-school sessions for boys and girls, with structured schedules and groupings for different standards. Besides conducting coaching classes, CricKingdom will organize friendly matches, and manage day-to-day cricket operations in coordination with Winmore Academy, backed by integrated teaching-learning school management platform Crimson Schools.

Talking about the foray, Rohit Sharma, Captain of the Indian cricket team and Founder of CricKingdom says in a recorded message, “I am so excited to announce that CricKingdom is now in your city. I am sure the students will make the most of this opportunity to elevate their game with an unmatched coaching experience with elite guidance and state-of-the-art facilities. CricKingdom is known for best coaches and best facilities that allows a lot of personalised attention to your game. The mobile app for online training and tracking is a unique aspect of training with us to experience cricket like never before.”

The collaboration bears the testament of world-class standard offered by the institutions operated by the Crimson Sport Academy in the city and will see Winmore provide ground setup and maintenance, including pitches, nets, and e­­­quipment as well as ensure access to designated facilities such as changing rooms and storage areas for academy equipment. While the three training nets – comprising two astro turf wickets and one natural grass turf wicket – are designed according to the guidelines issued by CricKingdom to ensure year-round practice in a simulative environment, the advanced floodlit cages at the academy allow play-and-practice sessions anytime during the day and the multipurpose area will host fun games and fitness drills.

“Cricket is a religion in India and infusing fresh, talented, young boys and girls will only strengthen India’s claim to laurels. Winmore is committed in identifying, nurturing and building talent pools of future athletics of India, by providing facilities and coaching under the guidance of nationally-renowned sport academies. The collaboration aligns with our broader goal of nurturing a wide range of sports at the grassroot level and provide students an ecosystem where they get access to world-class coaching with state-of-the-art facilities. We have collaborated with some of the best sporting academies in the country promoted by our country’s leading sportsmen and the learning experiences we aim to create for students through these collaborations will not only help them hone and develop their skills/talent in the respective sport, but also ensure they are equipped with the skill sets needed for success when they graduate from our school system. Crimson Sports Academy is now in the process of forging another partnership for basketball coaching, to bring world class training experience for its students,” says Mr. Vishal Goel, MD, JV Ventures and Co- Founder of Crimson Schools.

Espousing innovative, progressive and holistic learning through academics and a robust physical education curriculum, Winmore Academy offers a massive 86,000 square feet of training space for diverse sports including football, skating, taekwondo, table tennis, and chess. With the belief that sports play a vital role in the overall development of a child, Winmore Academy under Crimson Education aims to create a habit of healthy lifestyle for students, enhance their innate talents, build their self-confidence, develop motor skills, and relieve stress. With India’s growing focus on a range of professional sports and policy push for the same, efficient and safe training spaces are fast becoming critical. The thoughtfully-designed spaces with international quality professional guidance brought by Crimson Sports Academy is aimed at bridging that gap.

Opkey Raises USdollar47 Million in Series B Funding Round; Plans to ramp up teams across Noida and Bangalore

Bengaluru, Karnataka, India – Thursday, August 23, 2024–Opkey, the leading AI continuous test automation platform for enterprise systems, today announced that it has raised US$47 million in Series B funding led by PeakSpan Capital, with continued support from existing investors. The strategic investment will fuel Opkey’s mission to deliver continuous assurance and streamline cloud ERP transformation programs, accelerate technological advancements, and product development, and foster a culture of innovation. The funding will also help the company grow its sales and marketing teams to expand its market presence globally and invest in research and development to pioneer the emerging “ERP Ops” category. Opkey is also expanding Engineering and AI research teams at its Noida and Bangalore R&D centers to develop a category-defining product.

“Opkey’s AI-driven platform empowers CIOs to ensure successful ERP transformation and modernization programs, by revolutionizing the way enterprises approach Cloud ERP migration,” said Pankaj Goel, CEO and Co-founder of Opkey. “This funding will allow us to further enhance our technology and expand our reach, helping more organizations seamlessly migrate their legacy ERP systems to the cloud while ensuring continuous quality and performance, given its criticality to business outcomes.”

Enterprises modernizing their ERP systems often face a “SaaS Mess,” in which multiple best-of-breed applications require constant updates and testing to maintain seamless business processes. Traditional manual ERP testing methods introduce significant risks, threatening transformation initiatives and potentially leading to financial and reputational harm.

By harnessing AI and machine learning, Opkey dramatically reduces the time and effort needed for ERP testing. Its AI-powered assistant (Wilfred), utilizing a patent-pending GenAI Test Mining algorithm, dynamically generates tests tailored to client-specific configurations and customizations. As a result, enterprises can accelerate ERP changes by 50% and reduce defect rates by over 70%.

“We’re excited to partner with Pankaj and the Opkey team as they pioneer the next frontier of innovation in ERP modernization, delivering unparalleled assurance through continuous, AI-enabled test automation,” said Sanket Merchant, Partner, PeakSpan Capital. “As thematic B2B software investors, we understand the criticality of ERP and other enterprise applications (e.g., HRIS, CRM), which represent significant investments and operate as the central nervous system powering global business operations. We believe that, given the inefficiencies that exist today in all phases of the ERP life cycle, a new category of solutions will emerge, utilizing AI to address the high failure rate of cloud transformation and automate critical areas of implementation, testing, and support. Solutions like Opkey’s are mission-critical for achieving continuous assurance in the delivery of technology that yields optimal business outcomes. We could not be more energized to support Opkey’s vision for ERP Ops, which will help CIOs with their ERP transformation and modernization initiatives by providing a common data fabric, resilience in their technology strategy, and optimize table stakes business performance.”

Opkey currently has more than 200 enterprise customers, 72% of which are ranked in the Fortune 1000. The company also partners with large systems integrators like KPMG, Huron, and PwC to bring the power of AI to their implementation and managed services projects.

Navigating PCI DSS 4.0: Essential Tips for Web Application Security

On August 23, 2024, the world of compliance transitioned from PCI DSS 3.2.1 to PCI DSS 4.0. The silver lining is there is a 12-month grace period until the new requirements become mandatory on March 31, 2025.

If this news comes as a surprise, it is time to prepare. PCI compliance is no longer just for traditional retail payment chains. PCI DSS 4.0 is a call to all businesses processing financial transactions or providing supporting services to comply. While the PCI DSS 4.0 requirements document is quite extensive, there are three key areas related to application protection that organizations must address.

Deploying a web application firewall to safeguard websites
For starters, PCI DSS 4.0 requires the use of a web application firewall (WAF) to safeguard websites. This is a notable shift from PCI DSS 3.2.1 where WAF protection was merely a best practice. This change was largely driven by an evolving threat landscape and the increased frequency of attacks on digital payment data.

To comply with the requirement for real-time adaptive and active protection against new threats, the WAF solution should not be limited to a signature-based approach. Instead, it should incorporate and utilize a robust, behavior-based positive security model capable of adapting and accurately discerning legitimate traffic while blocking non-essential traffic.

PCI DSS 4.0 also acknowledges that vulnerabilities can have cascading effects due to system interconnectivity. Consequently, a WAF alone is insufficient. A combination of application protection tools working in unison is necessary. This includes bot management, API protection, and client-side protection. Ideally, an automated technology that cross-correlates between different tools to provide real-time alerts and insights is recommended.

Preventing business logic attacks
PCI DSS 4.0 requires companies to implement protection against business logic attacks. As organizations rely more heavily on APIs to run their business and APIs in turn rely on multiple integrations from various third parties, business logic can easily be exposed and exploited for malicious purposes. Companies should implement a solution designed to analyze business logic and detect API requests that abuse or bypass application features and functionalities.

PCI DSS 4.0 has also strengthened rules on authentication and authorization, requiring the identification and authorization of access to cardholder data.

Implementing client-side protection
As server-side security continues to improve, more hackers are setting their sights on the less protected and often overlooked client or browser side. An average application runs dozens of different third-party JavaScript services. These services are loaded when a user first visits a page and are automatically trusted by the main application, but they are rarely monitored.

While enterprises are doing their best to protect customers’ personal data on their application server-side environments, the information that end-users enter on their browser side can be exposed to third-party services embedded in the applications.

By exploiting vulnerabilities to plant malicious code in those third-party services, hackers can launch form jacking and skimming attacks and steal personal information from hundreds of thousands of customers without the customers or the company knowing.

Standard WAFs do not have visibility into the data path between end users and third-party applications, and therefore cannot detect nor stop these types of attacks. Recognizing this blind spot as a growing threat, PCI DSS 4.0 now requires organizations to implement client-side protection measures.

This includes upholding the integrity of all payment page scripts executed in the consumer’s browser, including those from third-party sites. Robust controls are needed to secure all elements that interact with the consumer’s browser, especially for payment transactions.

The new PCI DSS 4.0 requirements are also designed to counter the potential impact of Magecart attacks by mandating a tamper-detection mechanism. This required mechanism promptly alerts organizations about unauthorized alterations to HTTP headers and payment page content as perceived by the consumer’s browser.

To comply with these requirements, organizations should look for a client-side protection solution that can provide complete visibility to third-party scripts that are running on the browser side of an application. Continuous, automatic discovery of the application supply chain ensures that there are no third-party domains or scripts that go unaccounted for.

An effective client-side protection solution should also assess a threat-level for each service and script with detailed activity tracking and alerts. It should notify organizations of any attempts to manipulate form and payment pages as well as any attempts at DOM XSS. In addition, organizations should look for a solution that uses a positive security model—one designed to enforce protection by surgically blocking nefarious scripts without disrupting legitimate business traffic.

Airtel Payments Bank Enhances Urban Transit Experience with Seamless Digital Solutions

New Delhi, 23 August 2024: Airtel Payments Bank is enhancing the urban commuting experience in India by integrating digital payment solutions for travel-related payments. The Bank is committed to making travel-related payments safe, simple and rewarding.

Airtel Payments Bank now acquires and processes digital payments done via the National Common Mobility Card (NCMC) for five metro routes in the country – Delhi Metro & Airport Express, Namo Bharat, Ahmedabad Metro, and Mumbai Metro. The Bank processes NCMC card transactions issued by any bank, facilitating convenient travel on all these lines and other open-loop transport systems nationwide. The Bank works with multiple partners, including Hitachi Rail GTS, to offer these solutions.

This extensive network allows it to offer seamless digital transactions and issue eco-friendly NCMC (National Common Mobility Card) enabled cards, promoting sustainability and efficiency in public transport. Using the NCMC-enabled cards, customers can make transactions at metro stations, buses, and parking lots, as well as retail purchases, ATMs, and e-commerce transactions. The Bank, today, issues around 10,000 NCMC enabled cards daily. These cards, which aligns with the Nation’s vision of One Nation One Card, can be ordered from the Airtel Thanks App or acquired by visiting the nearest banking point or any designated point at various metro stations.

Airtel Payments Bank, today, is one of the leading issuer of FASTags, with one in six FASTags for private vehicles issued by the Bank. The Bank is the first in the country to introduce QR code-based FASTag recharging option with QR available on the FASTag itself, a move that enhances customer convenience. The Bank currently powers over 100 FASTag-enabled parking sites across India, where parking fees is automatically deducted at exit from the valid FASTag affixed on the vehicle. Additionally, Airtel Payments Bank facilitates toll payments at numerous toll plazas through FASTags, further streamlining road travel for its customers. The Bank now processes every second rupee spent on metro travel in the country.

“Our mission is to deliver a seamless and eco-friendly transit experience for every commuter in India. We are dedicated to leading the digital transformation of transit payments, offering solutions that not only streamline daily commutes but also support sustainability. Whether it’s metro rides, tolls, or parking, we offer innovative and secure payment options for our customers,” said Anubrata Biswas, MD and CEO of Airtel Payments Bank on the eve of Global Fintech Fest.

Gillco International School Shines at District Basketball Tournament

Mohali, August 23, 2024 — Gillco International School has once again demonstrated its prowess on the sports field, with both the Under-17 girls’ and Under-19 boys’ basketball teams achieving remarkable success at the District Basketball Tournament (SGFI). The event, held at Learning Path School, Sector 67, Mohali, saw the school’s athletes showcasing exceptional talent and teamwork.

The Under-17 girls’ team delivered an outstanding performance, triumphing over Mullanpur Zone and securing their place in the semifinals. Equally impressive was the Under-19 boys’ team, who dominated the court against Dera Bassi Zone, also advancing to the semifinals. These victories reflect the students’ hard work, determination, and the school’s commitment to fostering excellence in sports.

“We are incredibly proud of our students for their dedication and sportsmanship. Their success is a testament to the strength of our sports programs and the holistic education we provide. We look forward to their continued success in the upcoming semifinals,” said Dr. Kritika Kaushal, Principal of Gillco International School.

Gillco International School remains optimistic about their teams’ chances in the upcoming rounds, with hopes of clinching the championship title.