July 2021 - Media Bulletins Today News Bulletin in English

Business, News

The Board of Directors of ESFB approve the unaudited financial results for quarter ended June 30, 2021

Jul 31, 2021 by Rekha Nair 0 Comments #Managing Director and CEO of Equitas Small Finance Bank, #Mr. P N Vasudevan

Equitas Small Finance Bank

Chennai: The Board of Directors of Equitas Small Finance Bank Limited (ESFB) at its meeting held today, approved the unaudited financial results for quarter ended June 30, 2021

Pre Provisioning Operating Profit (PPoP) for Q1FY22 at Rs. 164 Cr, up 16% YoY

Advances grew 15% YoY to Rs. 17,837 Cr

CASA Ratio at 40%

Savings Account deposits at Rs. 6,392 Cr, growth of 216% YoY and 25% QoQ

Acquired ~5 lac liability customers digitally

Q1FY22 Highlights:

Key Highlights for Q1FY22:

Advances:
o Advances as of Q1FY22 was at Rs. 17,837 Cr, Advances growth of 15% YoY

o Disbursed Rs. 1,265 Cr in Q1FY22

o 81.95% of advances is secured loans

o Collection and Billing efficiency for the month of June 2021 at 83.49% & 69.52% respectively

Liabilities:
Acquired ~5 lac customers digitally
Deposits excluding CD at Rs. 17,021 Cr, growth of 48% YoY and 4% QoQ
Retail TD at Rs. 6,231 Cr, growth of 42% YoY and 6% QoQ
Retail TD at 61% and Bulk TD at 39%
Cost of funds reduced to 6.97% from 7.20% in Q4FY21 and 7.56% in Q1FY21
Savings Account deposits at Rs. 6,392 Cr, growth of 216% YoY and 25% QoQ
CASA stood at Rs. 6,794 Cr, CASA is 40% of Total Deposits

Key Ratios:
o Cost to Income^ at 66.98% as compared to 58.10% in Q4FY21 and 67.27% in Q1FY21

o RoA and RoE for Q1FY22 at 0.19% and 1.40% respectively

^ Income considering net-off of switching fees & prepaid card expense

Capital:
o As of March 31, 2021 Total CRAR at 24.07%, Tier-I CRAR of 22.06% and Tier II CRAR at 1.47%

Treasury & Liquidity:
o The Bank’s Certificate of Deposit (CD) programme for Rs. 1,000 Crore has highest rating from at CRISIL A1+

o The Bank currently maintains ‘surplus’ liquidity in the form of High Quality Liquid Assets (HQLA). Liquidity Coverage Ratio (LCR) as on 30.06.2021 at 165%. With expected increase in disbursements we target a LCR in the range of 120-125%

o The Bank’s total investment portfolio of Rs. 5,787 Crore comprises of SLR and Non-SLR securities

Profit & Loss:
o Net Interest Income for Q1FY22 at Rs. 461 Cr as against Rs. 404 Cr in Q1FY21. NIM at 7.87%

o Core Income (Net Income other than PSL Fees, Treasury & Others) at 87%

o Pre Provisioning Operating Profit (PPoP) for Q1FY22 at Rs. 164 Cr as against Rs. 142 Cr in Q1FY21, growth of 16%

o PAT affected due to provisions made on restructured accounts. PAT for Q1FY22 at Rs. 12 cr as against Rs. 58 Cr in Q1FY21

Asset Quality, Provisions & Restructuring:

Total advances restructured under Covid 1.0 & Covid 2.0 stands at Rs. 1,328 Crs, which forms around 7.5% of Goss Advances
Advances restructured due to Covid 1.0 stands at Rs. 430 Crs
Advances restructured due to Covid 2.0 stands at Rs. 897 Crs (Rs. 400 Crs during Q1FY22 and Rs. 497 Crs in July 2021)
The Bank carries a provision of Rs. 110.51 Crs towards the restructured book of Rs. 897 Crs
GNPA at 4.58% in Q1FY22 as compared to 3.59% in Q4FY21 and 2.68% in Q1FY21
NNPA at 2.29% in Q1FY22 as compared to 1.52% in Q4FY21 and 1.39% in Q1FY21
Provision coverage ratio at 51.21%

Collection & Billing Efficiency Product Wise:

	Collection Efficiency				Billing Efficiency
Particulars	March 2021	April 2021	May 2021	June 2021	March 2021	April 2021	May 2021	June 2021
Micro Finance	93.44%	88.85%	63.60%	66.90%	91.90%	88.05%	63.12%	63.02%
Small Business Loans	106.56%	97.17%	76.76%	85.14%	91.48%	86.08%	70.91%	73.02%
Vehicle Finance	113.84%	84.39%	67.35%	89.33%	87.74%	75.17%	62.82%	68.94%
MSE Finance	180.26%	150.55%	139.63%	108.34%	89.04%	85.59%	77.67%	72.89%
Corporate	174.91%	300.45%	242.77%	103.00%	99.91%	97.75%	97.46%	99.21%
Total	108.51%	105.16%	77.84%	83.49%	91.12%	84.68%	66.97%	69.52%

Collection efficiency represents total collections during the month as a percentage of that month’s total EMIs due
Billing efficiency represents only the EMIs of that month alone collected as a percentage of that months total EMIs due.
The month’s total EMIs includes EMIs of accounts which are in NPA also and not just standard assets

X Bucket Collection Efficiency:

Particulars	X Bucket Collection Efficiency March 2021	X Bucket Collection Efficiency April 2021	X Bucket Collection Efficiency May 2021	X Bucket Collection Efficiency June 2021
Small Business Loans	99.60%	97.82%	84.14%	96.15%
Vehicle Finance	98.85%	86.92%	78.56%	91.58%
Micro Finance	98.70%	96.00%	68.94%	73.97%

X bucket means those accounts, which are not having any overdue as at the end of previous month. X bucket collection efficiency represents collections of that particular month’s EMI from such X bucket accounts during that particular month divided by total EMIs from all such X bucket accounts

Commenting on the quarterly performance, Mr. P N Vasudevan, Managing Director and CEO of Equitas Small Finance Bank said:

The Bank primarily caters to small retailers and transporters engaged in daily use products. During the quarter due to lockdowns and other covid related restrictions, cash flows of these small retailers had been significantly impacted. The impact was felt across geographies and in rural locations too. With the absence of a moratorium during the second wave of covid, the bank offered to restructure loans of impacted customers in order to help them manage their cash flows better.

However, in July, we are seeing a strong uptick in collections and disbursements as the country gets back to near normalcy. We are confident that our customers would be able to regain their cash flows, remain resilient and continue to grow their small businesses as the pandemic wears off. However, we remain cautions of a plausible third wave.

Our liability franchise continues to deliver extremely well and investments in digital technologies, branches and people are yielding the desired results.

At Equitas, we continue to play a strong supportive role in conjunction with various State Governments by organizing a total of 3,799 vaccination camps for low-income communities, benefitting 4,45,566 people.

Health, News

A fifth of all cancers are lung cancers…

Jul 31, 2021 by Rekha Nair 0 Comments

Every year on 1st August- Lung Cancer awareness is spread across the globe to make people understand the impact of cigarette smoking & other harmful efforts of tobacco consumption on health.

Lung Cancer is the leading concept affecting human beings around 20% of all cancer are due to lung cancer only. Main risk factors are cigarette, beedi, cigars, chutta smoking & consumption of their tobacco products. Cigarette smoke contains more than 3000 chemicals including 70 different types of cancer-causing substances.

If a person gets diagnosed with lung cancer, his family member are 2 times more prone to get lungs lung cancer, which shows the risk of passive smoking effects on other family members. Other risk facts including those exposed to environmental pollution, occupational gases like chemical factory workers, are also at high risk compared to normal civilians.

Most common symptoms are persistent cough, spitting of blood stained (phlegm) sputum, severe weight and appetite loss, breathlessness. Suspicion of lung cancer increases with above symptoms and 40-50 years aged smoker. Most patients visit doctors at an advanced stage, though it can be easily diagnosed with simple chest ‘X- Ray, CT Scan chest, Bronchoscopy – test where camera filed to scope is passed into lungs similar to endoscope and lung biopsy. Relying on routine tests done as a part of annual/pre-employment/medical tests; rarely help to pick up early. With the advancement in medical oncology expertise to therapeutic modules, the treatment options are wide open and the post treatment survival periods also getting increased with each year.

Nevertheless, smoking remains single most common risk factor for lung cancer. It should be stopped at all costs.

Avoid smoking to avoid lung cancer development.

Health, News

Late diagnosis, the bane of lung cancer…

Jul 31, 2021 by Rekha Nair 0 Comments

Lung cancer represents a major health burden in India. It continues to be a devastating disease that defies all therapeutic endeavors to improve five-year survival. More than eighty percent of lung cancers are diagnosed at an advanced stage. This is mainly due to a long lag between the onset of symptoms and establishment of a diagnosis and finally, initiation of treatment.

A persistent cough, shortness of breath, pain in the chest, hoarseness of voice, blood in the sputum are some of the early symptoms of lung cancer. However, more often they may remain asymptomatic or ignore non-specific symptoms like nagging cough for several months before seeking medical help. Misinterpretation of symptoms, misdiagnosis, non-specific antibiotic treatments for several weeks to months delays the actual diagnosis! Even the social stigma and scare off being diagnosed of cancer also delays the medical attention and late diagnosis. This may lead to more advanced-stage lung cancer and less likely to get curative treatment.

The most important factors that are responsible for the delayed diagnosis of lung cancer are:

• Lack of awareness of symptoms of lung cancer and hence reporting late to their primary care providers.
• Self-management of early symptoms by patients and reporting late!
• Mis interpretation of symptoms – Symptoms are mostly mistaken for symptoms associated with smoking, upper respiratory tract infection, allergic bronchitis or chronic obstructive pulmonary disease. Hence they delay in cancer diagnosis.
• Mis interpretation of findings – As the presenting symptoms and initial radiographic findings are similar for lung cancer, lung infection and tuberculosis, the local physicians likely assume that the patient’s findings are consistent with more common diagnosis like non-specific pneumonia or tuberculosis rather than lung cancer!
• Finally… Lack of access to the medical care required to diagnose early.

To overcome the delay in diagnosis and management of lung cancer:

• We need to Create lung cancer awareness, the risks, signs, and symptoms.
• Proper evaluation of patients presenting with symptoms if they do not resolve in 2-3 wks with conservative management.
• Identify the High-risk group:– like smokers, factory workers etc. They need routine screening and prompt evaluation of new respiratory symptoms
• Early diagnosis is of paramount importance, especially in lung cancer.
• The expedited diagnosis and administration of treatment significantly increases the chances of a cure and long-term control.
• Lastly, you should understand that although smokers have a higher chance, anyone can get lung cancer! You need to be alert and seek medical advice if you have symptoms.
• Do not ignore and delay the medical attention because of scare being diagnosed of cancer. Unnecessarily you land up in late diagnosis!
• To conclude. being vigilant for early symptoms, regular annual screening, not delaying the investigations when advised, helps you to diagnose lung cancer in early stage. Early diagnosis and early intervention are very important! Lung Cancer is curable if diagnosed early!

Take care and stay healthy.

Dr. P Vijay Anand Reddy
Director, Apollo Cancer Institute, Hyderabad.

Business World, Health, News

Apollo Hospitals Group and Microsoft India redefine care process for MS Teams users

Jul 31, 2021 by Rekha Nair 0 Comments

Hyderabad: Apollo 24|7 – the digital Arm of the Apollo Hospitals Group and Microsoft India have joined hands to launch Enterprise Solution that can be utilized by organizations to provide their employees access to a holistic health and wellness solution within the Microsoft work suite. The Enterprise Solution – as integrated by Apollo 24|7 – has been tested in a pilot program for Microsoft India employees for a period of three months.

As part of the pilot program, 5000 Microsoft employees were given the access on this enterprise platform and over 50% of them chose to take virtual consultations with an Apollo doctor during the months of April–June. In addition to virtual consultations, over 2,600 medicine orders were also placed using the App, which were delivered at the doorsteps of the consumers in record time. Each of the registered Microsoft employees had access to over 7,000 doctors and specialists across the Apollo network.

Given the current scenario and with the third wave of COVID looming, organizations have been increasingly on the lookout for digital healthcare solutions to support their employees and families. Now, with deep integration of Apollo 24|7 with Microsoft Teams, a user has access to medical teleconsultation, vaccine booking, pharmacy, diagnostic tests, electronic health records, and wellness programs with just a click of the button.

“Healthcare is evolving to meet the immediate and future demands during the global health crisis. With the advancements in technology, people across the globe are embracing digital healthcare solutions. Apollo 24|7 has been developed to provide access to quality care to everyone. We are excited to partner with Microsoft during this pandemic to support organizations for employee wellbeing” said Madhu Aravind, CTO, Apollo 24|7.

The latest digital health offering by India’s largest healthcare provider combines Apollo Group’s extensive physical network and capabilities with a comprehensive and distinctive digital ecosystem.

Talking about the association, Microsoft’s Executive Director, Strategic Growth, Meetul Patel said, “In today’s hybrid work environment, organizations are increasingly looking to make access to wellness resources easier for their employees. Our partnership with Apollo has helped bring this access right into the flow-of -work by making resources easy to access from within Microsoft Teams which serves in so many ways as the “Office” in the emerging work environment”

The Enterprise Solution enables a user to consult an Apollo Doctor within 15 minutes of requesting for a consult; order medicines from the wide network of Apollo Pharmacies; and request for sample collection from home for prescribed diagnostic tests within Microsoft Teams itself.

Apollo 24|7–Microsoft Teams integration has created a unique solution for organizational wellbeing, and can be enabled for enterprises very quickly. The solution allows organizations to provide the entire Apollo ecosystem in the palm of their respective employees thereby empowering the employees to manage the health and wellbeing of their loves ones.

Business, News

Enjoy the season of Monsoon with delectable dips from Cornitos

Jul 31, 2021 by Rekha Nair 0 Comments

New Delhi: The windy breeze and subtle drops of water, calls for some delightful snacking with loved ones, accompanied by the flavored dips. Cornitos has a perfect partner for all your game night snack bowls, making your wraps complete with a range of Delectable Dips! The tasteful dips come in flavours of the right mix of cheese, the tanginess of jalapeno, to chunky tomato salsa available in two flavors of mild and spicy, there is a dip for every occasion.

The Cornitos Cheesy Jalapeno Dip is the coolest companion for making nachos a completely new dish for all your parties. This dip would be a tangy and flavourful twist to your nachos. Tomato Salsa is iconic and a mild flavour of chili gives it a kick of freshness. It is filled with the goodness of fresh tomatoes. It would surely compliment nachos and wraps that you serve at your next family gathering.

If you are an aficionado of spices, mix succulent tomatoes with spicy peppers and herbs, this chunky salsa dip can make the taste of all your dishes.

Business, News

Buy Tech Gadgets this Friendships Day for your Tech-Savvy Friends

Jul 31, 2021 by Rekha Nair 0 Comments

Once again, here comes the day on which we can appreciate our friends for the invaluable support and fantastic company they provide. But, more often than not, it is challenging to find the perfect gift for your BFF. Fret not! This Friendship Day, we are here to offer that much-needed assistance to you. It is said that a perfect gift is often wrapped in a powerful punch of surprise and reflects the passion of your shared interests. In today’s era, a state-of-the-art gadget with modernistic design and new-age attributes is something most of us wholeheartedly invest in. And, if such a stark and swanky gadget is offered in vibrant gift covers, it just makes the whole day and even the upcoming weeks better. So, without further ado, choose a perfect gadget for your BFF from the specially curated list mentioned below and show them how much this friendship means to you:

Play Headphones

One stop destination to buy Bluetooth Headphones, Smart Watches, Neckband, True Wireless Earbuds, Fitness Band Online. They have recently launch PlayGo BH47 and BH22.

PLAYGO BH47 – Available in the Galaxy black colour variant, the PLAYGO BH47 is powered by Qualcomm Chipset with active noise cancellation, for clear voice and enhanced communication. It also comes with quick charge support and offers music usage time of up to 30 hours while only needing three hours to juice up completely.

PLAYGO BH22

Available in a vibrant Champagne and Lush Lava colours, the PLAYGO BH22 is also powered by advanced processors so that users can experience trouble-free and crystal-clear communication. It also comes with power-packed performance and offers up to 35 hours of PLAY-time while only needing four hours to charge fully. The device is also equipped with a dual equalizers and can operate up to a distance of 10 meters.The PLAYGO BH22 packs a powerful punch with multi-point connection enabling consumers to pair up to two devices simultaneously along with dual connectivity that supports both Bluetooth 5.0 and AUX cable

Realme Smart Watch 2 Pro

Get the realme Watch 2 Pro smartwatch and stay on track with your fitness goals, thanks to its up to 90 sports modes tracking, heart rate monitor and blood oxygen monitor. This smartwatch lasts for up to 14 days when charged for just 2 hours, thanks to its long-lasting battery life. It is also water-resistant, making it perfect for daily usage. realme Watch 2 Pro uses a high-precision and low-power GPS sensor for the first time. It supports dual-satellite location (GPS and Glonass are online at the same time) enabling highly precise and accurate location information.

Mi Outdoor Bluetooth Speaker

Mi Outdoor Bluetooth Speaker has an output of 5W and is priced at Rs 1,599. It comes with an IPX5 splash-proof rating alongside a rugged design. The speaker supports Bluetooth 5.0 Dual Mode and battery life of up to 20 hours.

OnePlus Power Bank 10 000mAh

OnePlus Power Bank is available at Rs 999 via the company’s official website and Amazon. It comes with a capacity of 10,000mAh and is offered in Black and Green colour options. It sports two USB Type-A ports and 1 USB Type-C port with support for 18W fast charging.

Echo Show 5

Echo Show 5 connects to Alexa to give you rich visuals on a 5.5” screen with a crisp, full sound – in a design that fits in any room in your home. Ask Alexa to play your favourite music while cooking or play news while having breakfast. Alexa can remind you of important tasks like bill payments, kids’ classes and more. With a built-in camera ask Alexa to make video calls to friends & family or monitor your kid’s room while doing your daily chores, with compatible smart cameras. You can watch latest music videos, movie trailers, news and sports updates.

Business, News

7 months of blockade leads to shutdown of Adani’s ICD in Kilaraipur

Jul 31, 2021 by Rekha Nair 0 Comments

Since 1st January 2021 the protestors have blocked the main gate of ICD Kilaraipur by placing tractor trolley thereby obstructing movement of goods, ingress and egress of people and completely halting entire operations of ICD Kilaraipur.

Closing down of the business activities at ICD Kilaraipur will have impact on the loss of job to direct and indirect workforce 400 persons/families.

There will also be a loss to exchequer in the form of Railway Haulage, GST, Customs Duties and other taxes in the tune of INR 700 Crores and overall economic impact around INR 7000 Crores.

Adani Group had set up a Multi Model Logistics Park at Kilaraipur, Ludhiana, Punjab in the year 2017 (ICD Kilaraipur) spread over 80 acres to facilitate the industries in and our Ludhiana by providing them services of import and export of cargo through rail and road.

Despite repeated complaints to all Police Authorities, no affirmative action has been taken to vacate the blockade. The Adani Group preferred to writ before Punjab and Haryana High Court in the month of March’21 in the hope that the Hon’ble Court will protect its fundamental right by passing necessary directions to State Authorities to remove the blockade.

The State Authorities till date has only filed status reports before the Hon’ble Court and completely failed to remove the blockade. On the last hearing which was held on July 20, 2021, the Hon’ble Court had once again directed the State Counsel to apprise the Hon’ble Court on the next date i.e. July 30, 2021 to resolve the issue. There has never been an order passed by this Hon’ble court to remove the blockade and allow the petitioner to carry on its business.
The Group has also submitted that on one hand the State has failed to take any step to remove the blockade and on the other hand, the Hon’ble Court has not been able to decide the issue and kept on asking State to file reports or resolve the issues and failed to protect the fundamental rights of the petitioner.

The Group is suffering huge losses due to forceful closure of its ICD facility at Kilaraipur. Due to the persistent blockade, the Group has not received any relief since last 7 months and continues to bear losses to business and goodwill each passing day.

The Group has not got any relief from either the Executive or the Legal apparatus of the State. The Group hopes that The Hon’ble would appreciate that it cannot wait any further for justice to be delivered. Owing to the blockade the business has come to a complete standstill. Despite this, the Group has continuously paid full wages to its staff and payments to vendors in the hope that the Hon’ble Court and State of Punjab will take action for removal of the blockade.

The Group has waited for almost 7 months in the hope that blockade will be removed shortly. As the State administration were not able to remove the blockade and allowing the Adani to carry on its business, the Group has decided to close the business operation at ICD Kilaraipur as it cannot any further sustain the losses and continue to pay wages.

As a part of closing down of ICD Kialraipur, the Group has removed its signage from the main gate of ICD Kailaraipur and issued termination notice to its employees, workers and all other concerned.
Closing down of the business activities at ICD Kilaraipur will have impact on the loss of job to direct and indirect workforce 400 persons/families. There will also be a loss to exchequer in the form of Railway Haulage, GST, Customs Duties and other taxes in the tune of INR 700 Crores and overall economic impact around INR 7000 Crores.

The Hon’ble Court has also observed that the rights of the people to carry on business is not protected and its duty to of the State administration to ensure that people should be able to carry on its business without any hindrances.

News

Cyberabad Police, Cyberabad Traffic Police and SCSC announced 3rd Short Film Contest

Jul 31, 2021 by Rekha Nair 0 Comments

Hyderabad.… The Cyberabad Police, Cyberabad Traffic Police and SCSC(Society for Cyberabad Security Council) announced its 3rd Short Film Contest. The entries are invited from the interested people.

In a press note issued in the city today, it is informed that the prize money for the top three winners will be Rs 50,000/-, 30,000/- and Rs 20,000/- respectively.

The theme of the Contest is “Road Safety and Us”. This contest is being organized in collaboration with START Help Foundation to create awareness.

The length of the video must be anywhere between 60 to 120 seconds including the credit lines. Videos can be made in any of the three languages—Telugu, Hindi or English. The dialogues if any must have English titles, irrespective of the language of the film

The participants may submit the compressed video as an entry, but once the entry wins the prize, the film of the highest quality must be provided, in the aspect ratio of 1920×1080.

The last date to submit the entries along with the indemnity form will be August 31, 2021.

To participate and seek more information, please contact Mr Keshav Bhandari on phone: 9177283831, Email: trfcord@scsc.in

Business, News

Sunteck Realty Limited announces financial results for Q1 FY22

Jul 31, 2021 by Rekha Nair 0 Comments #Chairman and Managing Director, #Mr. Kamal Khetan, #Sunteck Realty Ltd.

				Rs cr
Operational Data	Q1 FY22	Q1 FY21	*YoY %*	Q4 FY21	FY 2021
Pre-sales	176	101	74%	371	1,022
Collections	172	65	165%	321	780

					Rs cr
P&L Statement	Q1 FY22	Q1 FY21	*YoY %*	Q4 FY21	FY 2021
Revenue	93	55	69%	191	614
EBITDA	21	16	32%	35	137
*OPM %*	*22%*	28%		18%	*22%*
Net Profit	3	-3	NM	10	42

Commenting on the Q1 FY22 operational performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “In this transformational environment, we remain focused on execution of our existing portfolio – reflected in construction and collection progress of our various projects. We continue to maintain our balance sheet strength, complimented by prudent cash flow management.

Presently, we are witnessing strong consolidation across the industry and we will be one of the biggest beneficiaries of this trend. The industry consolidation has already resulted in 3 new project acquisitions for us at Vasai, Vasind and Borivali in MMR. Going forward, we expect to leverage our brand franchise and management expertise to continue to evaluate new growth opportunities and thereby increasing our overall market share.

A key to our strong operational performance is being a dominant developer in each of the micro-markets and housing segments we are operating. Additionally, the focus on our core strength of sales & marketing and in-house construction capabilities will enable us to sustain this strong pre-sales and collections trend going forward.”

Education, News

ICA Edu Skills organizes virtual job fair; sees attendance of 45 leading companies from various sectors

Jul 31, 2021 by Rekha Nair 0 Comments #CEO, #Chairman, #Dr. Narendra Shyamsukha, #ICA Edu Skills, #Mr. Ankit Shyamsukha

New Delhi: ICA Edu Skills, India’s leading training and skill development institute is conducting an ongoing virtual mega job fair in order to help and connect the people who are seeking employment opportunities amidst the Covid-19 pandemic that led to the cutting down of substantial job openings in our country.

As many as 45 leading companies from various sectors including CA Firms, Banking & Insurance, Manufacturing, ITES & BPO and Logistics are participating in the fair and more than 5,000 students from different parts of the country have registered themselves in it so far. A dozen colleges are participating in the event. More than 30% of students and youngsters have benefited from this digital initiative.

Some of the companies participating are Wipro, ICICI Lombard, HDB Financial, Shalimar Group, OFB Solutions, Genius Consultants, Aright co Consulting, Writers Information, IBN Technologies, OSource Global, SurePrep India, Datamatics Business Solutions, Adecco India and many others.

After registering and signing in to the virtual fair job, seekers can explore the employers’ virtual booths, learn more about the companies and see what all opportunities are available. Once they apply for the interview, it is followed by one-on-one virtual interviews through text-based chats and video conferencing with the company representatives.

To register and for the regular updates, the job seeker can visit on link-https://www.facebook.com/ICAJobguarantee/

“There is a surge of people looking for employment right now as the country has opened economic activities after a strict lockdown, which was meant to curb the brutal second wave of the Covid-19 pandemic. The career fair is tailored to fill maximum positions available among the participating companies and provide skilled candidates to the industry”, said Dr. Narendra Shyamsukha, Chairman, ICA Edu Skills.

Virtual job fairs like these play an important role for the new job seekers or students to experience the hiring process as due to the pandemic there has been a gap between the seekers and recruiters. Also, the people who are looking to start their career recently do not have the experience of how the interviews are done.

Mr Ankit Shyamsukha, CEO, ICA Edu Skills added that “Firms continue to face challenges of getting trained manpower. And we find plenty of young graduates struggling to land a job. Education should not be just knowledge but the application of knowledge. The goal of this virtual job fair is to reach as many candidates as possible and provide them with the right direction and platform that suits their talent and aptitude. It helps students understand what the industry is looking for and gives the potential candidates an experience that they have ever had before.”

There has been always a demand-supply gap in professions such as Accounts, Banking, Finance, and Taxation even before the pandemic and the pandemic has only widened this gap. The number of openings (demand) available in this sector is far higher than the number of people available (supply). Despite so many people looking for jobs and yet openings being indefinitely open highlights only 1 issue at large SKILLS GAP. Industry demands are different for which specialized training is needed, If you have the right skills opportunities are aplenty.

Archive: July 31, 2021