9, Jun 2026
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
- 0
- By Neel Achary
9, Jun 2026
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.”
9, Jun 2026
Former NFL Player and Flag Football Champion Tyler Davis “TD” Named as Guardian Sports’ First-Ever LOOP Signature Athlete
Former Miami Dolphins player makes sports safety collaboration history in flag football
ATLANTA June 9— Guardian Sports, the company creating next-generation sports safety gear for all levels of play, today announced the official naming of its first-ever LOOP Signature Athlete, Tyler Davis, “TD,” a former NFL player for the Miami Dolphins and current flag football competitor among the league’s top performers.
Guardian Sports’ LOOP headband is engineered to provide added impact protection in a lightweight, breathable design. Its occipital hinge fit helps improve coverage around one of the head’s most vulnerable areas while maintaining a secure, low-profile feel for flag football players.
TD said, “I’m excited to join Guardian Sports as their debut LOOP Signature Athlete. As a professional flag football player and someone who has been on the field for over a decade, I know that athlete safety should be treated as a top priority.”
Hailing from the NFL legacy of TD’s father, Clarence Davis, former Oakland Raiders running back, TD also leads a successful sports career as a former NFL player for the Miami Dolphins and a CFL player for the BC Lions, with diverse player range covering positions from wide receiver, running back, and defensive back.
Most recently, TD transitioned from tackle to flag football through local Austin, Texas leagues and earned national attention after notable performances at elite tournaments. Through this experience, TD met Team USA coaches in 2024, becoming a current team USA member, with a projected spot on the 2028 Olympic roster.
Guardian Sports CEO Erin Hanson shares that, “We’re thrilled to move forward in this next chapter expanding LOOP’s leadership with the best in the industry. TD’s extensive sports experience and pacesetting future are a testament to the importance of sports safety.”
LOOP is a top-ranked Virginia Tech 5-STAR headgear with lightweight protective technology designed to reduce peak linear acceleration compared to bare head across all impact locations.
9, Jun 2026
Salesforce Celebrates a Decade of Innovation in India, Commits to Skilling 1 Million Learners by 2030
Hyderabad, June 9 : Salesforce, the no.1 AI CRM, today announced a commitment to equip one million learners across India with AI-focused skills by 2030. The announcement comes as Salesforce India’s Centre of Excellence celebrates 10 years of innovation and growth. At its core, the commitment to skill one million learners goes beyond digital literacy – preparing India’s workforce for jobs of the future.
Leveraging Trailhead, the free digital learning ecosystem from Salesforce, this commitment is brought to life through a bold set of integrated strategic programs — uniting academic institutions, industry leaders, and government agencies delivering unique training experiences in a shared mission to build an AI-ready workforce for India’s future.
- Government-backed AI skilling programs in collaboration with bodies such as IndiaAI, Ministry of Electronics and Information Technology of India targets emerging talent to equip India’s next generation with AI-ready skills.
- Virtual Internship Program with AICTE empowers students with hands-on project experience, helping students across India’s towns and cities build job-ready Salesforce and AI skills.
- Salesforce academic Centers of Excellence with institutions such as Manipal Academy of Higher Education delivers a purposeful, multi-layered strategy to democratize access with hands-on experience to Salesforce and AI skills
- Salesforce partner network – including Accenture, Deloitte, Grant Thornton Bharat, Infosys, PwC and TCS – continues to bring these programs to life through structured training curricula, mentorship – led learning, on-the-job project exposure creating direct pathways to employment within the Salesforce ecosystem.
Arundhati Bhattacharya, President and CEO, Salesforce – South Asia, said
“India has earned its place at the center of the global technology story – not by following trends, but by shaping them. As we mark ten years of our Centre of Excellence, I am reminded that our greatest achievements have been the people we have empowered along the way. Our commitment to skill 1 million learners by 2030 reflects a firm belief that India’s workforce is not just ready for the AI economy – it is ready to lead it. At Salesforce, we are committed to ensuring that potential does not go unrealised, and that the next generation of technology leaders emerges from right here.”
Buddha Chandrasekhar, Chief Coordinating Officer, AICTE, Ministry of Education said
“India’s transition into a global digital and AI powerhouse will depend on how effectively we prepare our students and workforce for the future of work. Industry-academia collaborations play a critical role in bridging the gap between classroom learning and real-world innovation. Our partnership with Salesforce reflects a shared commitment to building an industry-ready talent pipeline equipped with digital, cloud, data, and AI capabilities. Initiatives such as curriculum integration, faculty enablement, and virtual internships are helping create meaningful pathways for students to participate in India’s rapidly evolving technology economy.”
9, Jun 2026
Govt Cuts Ujjwala Subsidised LPG Quota to Four Cylinders a Year
New Delhi, June 9: The Central Government has reduced the annual quota of subsidised LPG cylinders available to beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine to four, citing consumption patterns and rising subsidy burdens amid increasing global energy prices.
Representational image
The decision, announced by the Ministry of Petroleum and Natural Gas, is aimed at aligning subsidy support with the average annual LPG consumption of Ujjwala households. Officials said the revised entitlement reflects the actual usage trends of beneficiaries across the country.
Launched in 2016, the Pradhan Mantri Ujjwala Yojana provides deposit-free LPG connections to women from economically weaker households, promoting the adoption of clean cooking fuel and reducing dependence on traditional sources such as firewood and coal.
Addressing a press briefing, Petroleum Ministry Additional Secretary Praveen Mal Khanooja stated that the government continues to provide substantial support to PMUY beneficiaries despite the reduction in the subsidised quota. Beneficiaries currently receive a subsidy of ₹300 per 14.2-kg cylinder, which is directly transferred to their bank accounts after each refill.
The move comes amid a sharp rise in LPG prices. The retail price of a 14.2-kg domestic LPG cylinder in Delhi has increased by ₹89 over the past three months, reaching ₹942 following the latest revision on June 7. After accounting for the subsidy, Ujjwala beneficiaries pay ₹642 per cylinder.
Officials attributed the increase in LPG prices to a surge in international fuel costs driven by geopolitical tensions in West Asia. India’s LPG import prices are linked to the Saudi Contract Price (CP), the global benchmark for LPG, which has reportedly risen significantly in recent months due to supply disruptions in the Gulf region.
According to the ministry, the cost of supplying a domestic LPG cylinder has now exceeded ₹1,600, while oil marketing companies continue to incur substantial losses on the sale of LPG, petrol, and diesel. The government stated that it has provided over ₹52,000 crore in LPG subsidies since 2022 to shield consumers from steep global price increases.
While the government maintains that the revised subsidy structure is based on average consumption levels, the decision is expected to impact millions of low-income households that rely on subsidised cooking gas. Consumer groups and social welfare advocates have urged authorities to closely monitor the effects of the reduction on vulnerable families and ensure continued access to affordable clean cooking fuel.
The latest policy change marks a significant shift in the implementation of the flagship welfare scheme, which has benefited millions of women across India by improving access to cleaner and safer energy for household cooking.
9, Jun 2026
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.
9, Jun 2026
AB de Villiers Caps Off Sneaker LAB’s Golden Wipe Campaign with an Exclusive Meet & Greet Experience
June 9 : Sneaker LAB, a South Africa-born brand redefining sneaker care through science-led and sustainable solutions, recently hosted an exclusive meet & greet experience with cricketing icon AB de Villiers for the winners of its Golden Wipe campaign in India. Designed as the culmination of the brand’s highly engaging consumer campaign launched last year, the experience brought together passionate sneaker enthusiasts and cricket fans through a once-in-a-lifetime opportunity to meet one of the sport’s most loved personalities up close.
Created to reward and celebrate the brand’s growing community in India, the Golden Wipe campaign invited consumers to discover hidden Golden Wipes placed inside select Sneaker Wipe packs across the country. Winners were awarded an exclusive opportunity to meet AB de Villiers in person through a specially curated experience that included intimate interactions, photo moments, and conversations with the cricketing legend, creating a memorable experience that went far beyond traditional consumer engagement.
The event also marked a milestone in Sneaker LAB’s ongoing association with AB de Villiers, which began in May last year when the cricketing legend came on board as the brand’s partner for India. Throughout the collaboration, AB de Villiers played a key role in amplifying the brand’s visibility and helping it connect with India’s growing sneaker and lifestyle community through a series of culture-led initiatives and consumer experiences.
Speaking about the campaign closure, Jo Farah, Founder of Sneaker LAB, said,
“Our goal from the outset was to create a campaign that resonated with consumers in India while reflecting the values of our brand. Partnering with AB de Villiers helped us bring that vision to life. This exclusive meet & greet was a fitting conclusion to the campaign and a celebration of the strong connection we have built with our community throughout this journey.”
Sharing his thoughts on the experience, AB de Villiers said,
“What stood out to me most about this campaign was how genuinely community-focused it felt. Sneaker LAB created something that gave fans a real opportunity to be part of the brand journey in a personal and memorable way. Meeting the winners, hearing their stories, and experiencing their excitement firsthand made this incredibly special for me as well.”
Founded in Cape Town and now present in over 65 countries, Sneaker LAB combines biotechnology-powered innovation with a commitment to sustainability, helping consumers care for and extend the life of their favourite garments and footwear. The Golden Wipe campaign reflects the brand’s broader vision of building meaningful connections through culture-led initiatives that go beyond product, reinforcing its commitment to India’s growing sneaker, performance, and lifestyle communities. While the brand continues to operate as Sneaker LAB in India, it has recently unveiled its global evolution to The Lab – a refreshed identity that reflects its expanded vision and category ambitions.
With the new product range expected to arrive in India later this year, consumers can look forward to experiencing the next chapter of the brand’s journey in the months ahead.
9, Jun 2026
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 .
9, Jun 2026
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.
9, Jun 2026
Maoist Arms and Explosives Seized in Joint Night Operation in Malkangiri
Malkangiri, June 9 (UDN): Security forces achieved a major breakthrough in anti-Maoist operations after recovering a cache of arms, ammunition, and explosives during a joint night operation in the Maoist-affected areas of Malkangiri district.
The operation was carried out jointly by personnel of the District Voluntary Force (DVF), Special Operations Group (SOG), and Central Reserve Police Force (CRPF) based on specific intelligence inputs regarding Maoist movement and the presence of hidden arms dumps in the region.
During the search operation conducted in a forested area, security personnel unearthed a substantial quantity of explosives, ammunition, and other materials believed to have been stocked by Maoist cadres for future attacks. The recovered items were safely seized and secured by the forces.
Officials said the successful operation has dealt a significant blow to Maoist activities in the area and could help prevent potential attacks targeting security personnel and public infrastructure. The seizure is expected to weaken the operational capabilities of the insurgents in the region.
No exchange of fire or casualties were reported during the operation. Security forces have intensified combing and search operations in the surrounding areas to track down Maoist cadres and uncover additional hidden caches.
Senior police officials praised the coordinated efforts of the security forces and reiterated their commitment to maintaining peace and security in the district. They also appealed to local residents to cooperate with law enforcement agencies by sharing information related to extremist activities.
Malkangiri, one of Odisha’s most sensitive Maoist-affected districts, has witnessed intensified anti-insurgency operations in recent years, leading to significant gains in curbing extremist influence and strengthening development initiatives in remote areas.
