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  • Central Model School Inaugurates its State-of-the-Art Sports Pitch

    Central Model School

    Kolkata, 10th July 2024: Central Model School (CMS) hosted the inauguration of its State-of-the-Art Sports Pitch along with the celebration of Innovation Day with Innovation Extravaganza on its campus at 14 Circus Avenue. The event drew attention to the remarkable creativity and innovation of the students.

    The occasion was graced by the presence of Sardar Taranjit Singh, Managing Director of JIS Group, who participated in the celebrations and addressed the attendees. His words of encouragement and support added a special touch to the event.

    The highlight of the day was the inauguration of the newly constructed sports pitch, which boasts state-of-the-art cricket and basketball facilities. This addition to the CMS campus promises to enhance the physical education program and provide students with top-notch amenities to nurture their athletic skills.

    In conjunction with the sports pitch inauguration, the school celebrated Innovation Day, showcasing a wide array of innovative projects developed by students. The exhibits demonstrated the students’ ingenuity and dedication to pushing the boundaries of creativity and technology. The projects ranged from eco-friendly solutions to cutting-edge technological advancements, reflecting the diverse talents of the CMS student body.

    Speaking on this occasion, Sardar Taranjit Singh, Managing Director, of JIS Group, said, “It is inspiring to witness the creativity and dedication of the students at Central Model School. The inauguration of this state-of-the-art sports pitch marks a significant step in promoting holistic development, combining academics with athletics. Such initiatives are vital for building well-rounded individuals prepared to meet future challenges.”

  • CCPA directs Yatra to refund over Rs 2.5 crore to consumers affected during Covid lockdown

    covid vaccine

    IANS

    The Central Consumer Protection Authority (CCPA) on Tuesday directed online travel platform Yatra to refund over Rs 2.5 crore pending amount to consumers affected due to cancelled air tickets during the Covid-19 lockdown.

    The CCPA said its order reinforces the importance of timely refunds and “Yatra is directed to adhering to this directive to ensure complete resolution for all pending bookings”.

    From July 8, 2021 to June 25, 2024, the CCPA — which comes under the Ministry of Consumer Affairs, Food & Public Distribution — conducted several hearings to address these grievances and Yatra Online Limited made significant progress in reducing the total number of pending refund bookings.

    In 2021, there were 36,276 pending bookings amounting to Rs 26,25,82,484.

    Covid symptoms

    IANS

    As of June 21, 2024, this number has been significantly reduced to 4,837 bookings, amounting to Rs 2,52,87,098.

    “Yatra has refunded approximately 87 per cent amount to consumers and further endeavour to refund nearly 13 per cent amount to consumers in order to ensure that all pending refunds are processed promptly and efficiently by airlines,” said the ministry.

    It came to the notice of the Central Consumer Protection Authority (CCPA) through National Consumer Helpline that many grievances were lodged relating to non-refund of cancelled air tickets on account of Covid lockdown.

    During the proceedings held before CCPA, several other travel platforms like MakeMyTrip, EaseMyTrip, ClearTrip, Ixigo and Thomas Cook have refunded the entire amount to consumers whose tickets got affected due to lockdown.

    To further facilitate timely processing of refunds to consumers, CCPA issued an order in June, wherein it directed Yatra to set up dedicated arrangements at the National Consumer Helpline (NCH).

    “Specifically, Yatra is required to allocate five exclusive seats at NCH for making calls to the remaining 4,837 passengers informing them that their pending refunds due to Cpvod-19 lockdown-related flight cancellations will be processed,” the CCPA said.

    With inputs from IANS

  • Electric Mobility Leader EKA Welcomes Rohit Srivastava As Chief Growth Officer


    EKA Welcomes Rohit Srivastava as Chief Growth Officer

    PUNE: EKA (Pinnacle Mobility Solutions), a leading electric vehicles & technology company with esteemed equity partners Mitsui Co., Ltd. (Japan) and VDL Groep (Netherlands), is thrilled to announce the appointment of Mr. Rohit Srivastava as the company’s Chief Growth Officer.

    Srivastava’s position at EKA Mobility will include organizational expansion, with an emphasis on top-line P&L responsibility. Sales, marketing, business development, and product management will all fall under his purview. His significant experience in developing innovative business models and encouraging value creation from the ground up will be critical in propelling EKA Mobility’s growth and success. 

    Dr. Sudhir Mehta, Founder and Chairman of EKA Mobility, said, “Delighted to welcome Rohit Srivastava to the EKA Mobility family. His vast experience and proven track record in the commercial vehicles and EV sectors make him an invaluable addition to our team. We are confident that his leadership will drive our mission of transforming the electric mobility landscape.”

    With over three decades of distinguished experience in Sales and Marketing, Srivastava has played a pivotal role in establishing sustainable businesses. He began his career with TATA Motors and progressed through the ranks to many distinguished positions within the company. In his most recent position, he was the Business Head of commercial Vehicles Passenger (CVP) at TATA Motors Ltd., where he was responsible for spearheading the electrification effort and advancing EV adoption in the public transport sector spanning buses, vans, and minivans. An engineer by training and a CII-Fulbright fellow, he is well-known for his customer-centric approach, lean thinking, and value chain optimization. His ability to create product strategies, establish project QCT objectives, and drive product development, testing, and validation has been critical in establishing EV portfolios and tech stacks for EV products.

    Rohit Srivastava, Chief Growth Officer of EKA Mobility, stated, “Joining EKA Mobility is a tremendous opportunity to contribute to a revolutionary phase in the mobility industry. I am eager to leverage my experience in driving customer-centric and sustainable business strategies to help EKA Mobility lead the charge in electric vehicle innovation. Together, we will build a future that prioritizes efficiency, sustainability, profitability, and exceptional customer experiences.”

  • LOHUM to procure black mass from UK-based Recyclus • EVreporter

    LOHUM, a Delhi-based lithium-ion battery recycler, has signed a black mass offtake agreement with Recyclus Group Ltd, a subsidiary of Technology Minerals Plc. Recyclus focuses on creating a sustainable circular economy for battery metals and operates in the UK.

    Under this agreement, Recyclus will sell black mass produced at its lithium-ion battery recycling facility in Wolverhampton to LOHUM’s facility in India. This arrangement aligns with LOHUM’s strategy to source black mass from multiple partners to build its inventory. Black mass contains essential metals, including lithium, manganese, nickel, and cobalt, which can be reprocessed and reintroduced into the battery manufacturing supply chain. Recyclus has achieved a 47% recycling rate from end-of-life batteries to black mass at its Wolverhampton facility, as claimed by the company statement.

    The partnership with LOHUM originated from Recyclus’ academic collaboration with the University of Birmingham, which included hosting a delegation from India. This collaboration and Recyclus’ participation in the UK and Indian Governments’ Innovating for Transport and Energy Systems (ITES) scheme have strengthened the relationship with LOHUM. The partnership aims to develop trade links and advance electrification. Together, LOHUM and Recyclus form a closed-loop materials ecosystem where Recyclus produces black mass and LOHUM extracts critical materials.

    According to the official statement, LOHUM’s NEETM multi-stage Hydrometallurgical process recovers energy transition materials with a 95% yield and 99.5% purity rate. The company has partnerships with international and Indian EV brands, battery manufacturers, and materials companies, including Mercedes Benz Energy, MG Motor India, Log9, Ather, Vecmocon, Altigreen, and Stellantis India & Asia. LOHUM has also partnered with entities in Nepal’s EV ecosystem, including MG Nepal and Tata Motors Nepal.

    Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said: “We are delighted to secure our first black mass offtake agreement with Lohum Cleantech, India’s largest producer of sustainable energy transition materials. It is a strong endorsement for our battery recycling process and demonstrates the demand for black mass, which contains minerals crucial for the battery manufacturing sector and green transition. We are seeing increased commercial traction for our recycling solutions, and this deal further underscores our potential to build international trading partners as the world shifts to electrification.”

    Rajat Verma, Founder & CEO of LOHUM expressed- “We applaud Recyclus’ success in extracting black mass with viability, and this partnership will effectively help both companies close the loop on battery raw materials. This partnership is also one of the world’s first examples of a circular materials ecosystem consisting of multiple recyclers in the same loop. The black mass recovered by Recyclus will be further refined at LOHUM to yield various critical minerals vital to the energy development and energy security of nations worldwide.”

    Also read: LOHUM to produce LMFP Li-ion batteries | Appoints Chaitanya Sharma

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  • Markets: Sensex trades down 228 points, Nifty down 58 points amid selling in banking stocks

    Sensex, Nifty end flat as markets turn to consolidation phase

    Indian equity indices opened in red on Wednesday following pressure in banking stocks. At 9:55 a.m., Sensex was down 228 points or 0.28 per cent, at 80,123 and Nifty was down 58 points or 0.24 per cent, at 24,378.

    Banking stocks are leading the fall. Nifty Bank is down 261 points or 0.50 per cent, at 52,307. In the Sensex pack, M&M, SBI, Kotak Mahindra Bank, HCL Tech, TCS, JSW Steel, Axis Bank, and Reliance are the top losers.

    Maruti Suzuki, NTPC, Titan, Bharti Airtel, Bajaj Finance, and Tata Steel are top gainers. The Nifty midcap 100 index is down 85 points or 0.17 per cent, at 56,976, and the Nifty smallcap 100 index is down 68 points or 0.36 per cent at 18,888.

    sensex

    Among the sectoral indices, FMCG, realty, energy, and infra are in the green, and Auto, IT, PSU Bank, and pharma are in the red. Deven Mehata, Research Analyst at Choice Broking said: “Nifty has given a strong breakout above 24,400 levels and has closed at all-time high levels.Now on the lower side, 24,250-24,300 will act as a strong support.”

    “Traders holding a long position should hold with a trailing stop loss of 24,250 on a closing basis. Fresh long positions should be entered on dips with the mentioned stop loss,” he added. 

    (With inputs from IANS)

  • BAJAJ HOUSING FINANCE LAUNCHES SAMBHAV HOME LOANS


    BAJAJ HOUSING FINANCE: SAMBHAV HOME LOANS

    Enters the Affordable Housing and Informal Income Segment to address the housing finance needs of unserved and underserved customer segments

    MUMBAI: Bajaj Housing Finance launched Sambhav Home Loans today – a product to provide affordable and accessible housing finance.

    The all-new Home Loan product is designed for first-time homebuyers looking to make their dream of home ownership a reality through affordable housing finance. In line with this, the income norm on Sambhav Home Loans starts from only Rs. 10,000 per month, with loan amounts as low as Rs. 10 Lakh. The affordable income criterion makes this an accessible option for prospective borrowers across a wide range of income groups.

    Both salaried and self-employed applicants from a range of employment types, such as manufacturing, trading, and the informal job sector, among others, are eligible for finance as part of this product. Subsequently, the eligibility, documentation, and application process for Sambhav Home Loans have been kept flexible to accommodate all such employment types.

    Apart from minimal eligibility requirements, Sambhav Home Loans offer a host of benefits. Borrowers enjoy attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. Eligible borrowers also benefit from a sizeable loan amount, which makes homeownership more convenient.

    With the launch of Sambhav Home Loans, Bajaj Housing Finance now offers a full suite of offerings in housing finance, covering all customer categories. With over 6,000 approved projects, the Lender offers custom mortgage solutions across India. Interested applicants can either apply online through the Lender’s website or walk into any of its branches.

    * Salary norms and minimum loan amount are subject to change based on city | T&C apply

  • Over 7 in 10 large Indian firms adopt ESG goals in response to regulatory shifts

    ESG

    In a significant stride towards sustainability, over 75% of large Indian companies have set clear environmental, social, and governance (ESG) goals, with 84% voluntarily sharing their targets. This data was revealed in a report by research company IMA India and Uniqus Consultech, highlighting the growing importance of ESG strategies in the corporate sector. The report further revealed that about 61.3% of manufacturing companies expect to see measurable outcomes from their ESG initiatives in the medium to long term, with 13.3% anticipating results in the very near term. This indicates a shift in corporate India’s approach towards sustainability, with a majority of companies embedding ESG into their core strategies and taking concrete steps towards sustainability.

    However, the journey towards sustainability is not uniform across all sectors. While large companies have fully integrated ESG strategies into their organisational strategies, small and medium enterprises (SMEs) still have some road to cover. This disparity underscores the need for a more inclusive approach to ESG adoption, ensuring that all businesses, regardless of their size, are part of the sustainability journey. The primary drivers of ESG adoption, as cited by 85% of respondents, are ethical responsibility and corporate citizenship. More than half of the respondents are leveraging or exploring ‘Green Finance’ and technology for their ESG efforts but have not made significant progress yet. This suggests that while the intent to adopt sustainable practices is high, the execution and implementation of these practices remain a challenge for many companies.

    The Securities and Exchange Board of India (SEBI) has introduced new ESG reporting requirements for the top 1,000 listed companies in the country by market capitalisation. This move is expected to increase transparency and accountability among companies, encouraging them to adopt more sustainable practices. However, the rapid pace of regulation has left some companies, even early adopters, struggling to meet the new norms. Companies like L&T and ITC, which were early adopters of ESG practices, are now facing challenges in sourcing information from a diverse and often extensive supply chain. For instance, ITC’s interests range from cigarettes to hotels, and it is grappling with how to source similar information from its agri-business suppliers (millions of small farmers) and customers (the thousands of well-heeled individuals in its hotels business).

    BUSINESS

    The HR departments within organisations are playing a crucial role in promoting ESG initiatives. They are leading efforts in diversity and inclusion, employee well-being, and ethical training. By fostering a culture of sustainability, HR can improve the company’s crisis response capabilities through better stakeholder engagement, enhanced reputation, and by ensuring the workforce is educated on ESG matters. The complexities of ESG compliance, especially for multi-jurisdictional operations, and the need for specialised knowledge are additional hurdles. Companies are investing in skill development and data management systems to ensure accurate reporting, while also seeking clarity on legal implications.

    In conclusion, the adoption of ESG goals by Indian companies is a testament to the growing importance of sustainability in the corporate sector. While challenges remain, the commitment to ethical responsibility, corporate citizenship, and sustainable practices is driving companies to innovate and adapt. As new technologies and regulations continue to shape the ESG landscape, companies that can effectively integrate sustainability into their core strategies will be better positioned to thrive in the long term. The journey towards sustainability is a collective one, and it is encouraging to see Indian companies taking significant strides in this direction.

  • Zell Education and Medi-Caps University Sign MoU for

    Zell Education, India’s leading finance and accounts Ed-tech platform, has joined hands with Medi-Caps University to offer a comprehensive BCom integrated ACCA (Association of Chartered Certified Accountants) program for students. The Memorandum of Understanding (MoU) was signed today at the Medi-Caps University campus in Indore.

    The MoU was inked by Anant Bengani, Co-Founder and Director of Zell Education, and Prof. (Dr.). P. Siluvainathan, Registrar of Medi-Caps University.

    Under the agreement, Zell Education will provide specialized training to Medi-Caps University students pursuing the BCom + ACCA program. The collaboration aims to equip students with the theoretical knowledge and practical skills required in the field of accounting and finance. Additionally, Zell Education will collaborate with Medi-Caps University on various fronts, including organizing events, workshops, and other academic initiatives.

    Upon successful completion of the program, Zell Education will assist students in securing relevant placement opportunities, leveraging its robust industry connections and expertise in the field.

    “We are thrilled to collaborate with Medi-Caps University and bring our industry-leading BCom + ACCA program to their students,” said Anant Bengani, Co-Founder & Director of Zell Education. “This partnership aligns with our mission to provide high-quality education and training, enabling students to acquire the skills and knowledge required to succeed in the dynamic field of accounting and finance. By combining our expertise with the academic excellence of Medi-Caps University, we are confident that this program will open doors to promising career opportunities for the students.”

    “We are pleased to inform you that the Faculty of Commerce has signed a Memorandum of Understanding (MoU) with ZELL Education Private Limited, which is recognised as India’s leading training center, dedicated to transforming careers by making education affordable and accessible to all students.” said, Prof. (Dr.). P. Siluvainathan, Registrar of Medi-Caps University

    The Faculty of Commerce at Medi-Caps University and ZELL Education Private Limited have entered into this cooperative agreement to foster the overall development of students. Both parties share a common vision to provide quality education and enhance the skill sets of students. Medi-Caps University and ZELL is committed to delivering high-quality learning experiences that empower individuals to excel in their professional journeys through various skill enhancement programs.

    The MoU was signed by Dr. P. Siluvainathan, Registrar of Medi-Caps University, and Mr. Anant Bengani, Co-founder of Zell Education in the presence of Hon’ble Vice-Chancellor Prof. (Dr.) D.K. Patnaik, Hon’ble Pro-Vice-Chancellor Prof. (Dr.) D. K. Panda, Dean of Pharmacy, Prof. (Dr.) Sanjay Jain, Dr. Ravindra Pathak, Head of International Affairs, Dr. Haldhar Sharma, Head of Commerce, and Program Chair Prof. (Dr.) Sunil Mishra.

    The partnership between Zell Education and Medi-Caps University underscores the commitment of both institutions to provide students with industry-relevant education and exposure, empowering them to excel in their future careers.

  • FIA Star Awards Night And 78th Independence Day Celebrations


    FIA Star Awards Night and 78th Independence Day Celebrations

    CHICAGO, IL: The Federation of Indian Associations (FIA) is thrilled to announce its upcoming mega event, the ‘Star Awards Night,’ a prestigious celebration of excellence within our community. Scheduled for August 16, 2024, at the Matrix Club in Naperville, this gala promises an evening filled with inspiring tributes, exceptional entertainment, and fine dining. This event is scheduled for August 16th, 2024, at the prestigious Matrix Club in Naperville. 

    The ‘FIA Star Awards Night‘ will honor outstanding achievements across 19+ categories, including Best Community Service Organization, Entrepreneur of the Decade, Community Leader of the Year, Best Medical Professional, Fashion Icon, and more. This exclusive event will spotlight individuals and organizations that have significantly contributed to our community.

    In addition to the awards ceremony, we proudly announce that this year’s event will coincide with FIA‘s grand celebration of India’s 78th Independence Day. To mark this special occasion, Sparsh Shah, a talented singer, rapper, and Guinness World Record holder born with Osteogenesis Imperfecta will open the event with a performance of patriotic songs.

    Adding to the excitement, the FIA Team is honored to welcome Jaya Prada, an illustrious Bollywood star and multiple Filmfare Award winner. Known for her exceptional talent and beauty, Jaya Prada will join us in celebrating these two unforgettable events.

    Sunil Shah, Chairman and Founder, of FIA, said about the exciting event: “In our continued tradition of honoring the Community Leaders who selflessly serve us, we have added more categories to the awards list. For the first time, we will have two award-winning international celebrities flying specifically for this FIA event to Chicago, Sparsh Shah and Bollywood Celebrity Jaya Prada.“

    Adding to this Pratibha Jairath, President mentioned, “This will be a mega-event. The presence of our community members in Chicago at this prestigious event would be incredibly meaningful as we come together to honor those who have excelled in their respective fields and made a positive impact on our community. With over than four months of meticulous planning dedicated to selecting the award winners, this promises to be one of the most significant events Chicago Lands has ever witnessed.”

  • Xiaomi Showcases SU7 Electric Vehicle in India

    Xiaomi showcased its electric vehicle, the SU7, in Bengaluru on Tuesday, but has no plans to launch it in India.

    In the electric vehicle market segment, Xiaomi’s SU7 could compete with BYD’s Seal, Hyundai’s Ioniq 5, and Kia’s EV6.

    “The SU7 was brought to India solely for showcase purposes. It is not for sale in the Indian market,” Xiomai said.

    SU7 Specifications

    The SU7, a sports sedan, is Xiaomi’s first electric car and is priced under $30,000 (around Rs 25 lakh).

    The car comes in two versions: one with a range of up to 668 km and another with a range of up to 800 km.

    It is 4,997mm long, 1,963mm wide, and 1,455mm tall, with a 3,000mm wheelbase.

    The Xiaomi EV features a 105-liter front trunk and a 517-liter boot.

    High-Performance Variant

    The SU7 Max Performance variant includes a 101 kWh battery, offering a range of 800 km.

    It has a dual-motor system producing 663 bhp, with a top speed of 265 km/h and can accelerate from 0 to 200 km/h in 10.67 seconds.

    Fast Charging Capabilities

    The SU7 Max can gain 510 km of range in 15 minutes of charging, while the standard SU7 can boost its range by 350 km in the same time.