Archive: August 2, 2021

Ecom Express launches self sign-up portal ‘E-zippie’ for small businesses

 

Ecom ExpressGurugram: Ecom Express, a leading technology enabled end-to-end logistics solutions provider for the e-commerce industry, today announced the launch of its self sign-up portal called ‘E-zippie’. The portal is for micro-entrepreneurs, small business owners, sole-proprietors and home-preneurs, to quickly, conveniently, and securely sign-up for a one-stop-shop for logistics services in less than 30 minutes, a new benchmark for the industry. This move is aimed to simplify the customer onboarding process with the company by enhancing user experience and provide more flexibility in terms of service plan and price selection.

By leveraging the latest banking and identity verification APIs to reduce manual back-end processes and paperwork, the self sign-up portal makes it possible for online businesses to register and start shipping orders instantly. The portal is highly secured by strong authentication protocols and sophisticated access controls.

Commenting on the announcement, T. A. Krishnan, Co-founder and CEO, Ecom Express, said “India has approximately 6.3 crore* small and medium businesses and with the pandemic, the numbers of businesses are increasing every day. Logistics plays a significant role in the growth of these businesses, and we wanted to offer both our digital and logistics capabilities to support them. With ‘E-zippie’, we can fast-track registration to less than 30 minutes against a 10 to 12 days process taken by most players in the market. The self sign-up portal is a major milestone in our effort to provide an automated and seamless experience for online businesses right from onboarding to fulfilling all their shipping requirements. We will continue to enhance customer experience by making logistics simpler and convenient for small and micro businesses, by providing direct control on their shipments and flexibility in managing end-to-end shipment life cycle. Our aim is to help them expand their market access to 27000+ PIN codes, diversify their customer base, and solidify their supply chain through Ecom Express.’’

Ecom Express has leveraged various technologies while building the back end to make the portal seamless and convenient for use. The portal is mobile responsive through which sellers can submit requests at their convenience and which is then funneled directly to the right department that handles the request without any manual intervention or re-keying of information. Once the seller is onboarded, they will get direct control over their shipments to manage distribution through a dedicated state-of-the-art dashboard and customer support to get real-time status and closure on their shipments.

The self-service functionality available through self-sign-up will make a positive impact and the company estimate that the portal will enhance around 100% more sign-ups from online sellers and businesses.

Softline India recognized as the winner of Microsoft India Area Award 2021

Softline India recognized as the winner of Microsoft India Area Award 2021

Softline India recognized as the winner of Microsoft India Area Award 2021

Mumbai, India  – Softline India today announced it has won Microsoft India Area Award 2021 – Technology Partner of the Year – Security. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.

“For Enterprises, a well-architected & planned Digital transformation journey will have cybersecurity investments at its core” says Vinod Nair, Managing Director, Softline India. “This past year we have seen an exponential increase in cloud adoption and the birth of the hybrid work culture trend, in face of these challenges, security has become paramount for all organizations. As enterprises scramble to keep up with the evolving security needs, Softline, in partnership with Microsoft, spearheads the space in implementing customized and comprehensive solutions. This recognition brings a spotlight to our team’s dedication and customer’s trust in our expertise”.

Softline India thanks you for all the support given to us that contributed to our success recognized by this award. We would not have gotten this far without any one of you.

The Microsoft Partner of the Year Awards recognize the outstanding successes and innovations by Microsoft partners all over the world during the past year. Softline was recognized for providing outstanding solutions and services in India.

Softline facilitates digital transformation and cybersecurity services to customers from 50+ countries and in 95+ cities around the world. Our 2,400+ client managers and 1,000+ technical product and service specialists, engage with our clients to choose and integrate the right products in the most efficient way, creating and managing hybrid and secure infrastructures. Hand-in-hand with our clients, our global support and maintenance teams manage and support the infrastructure needed to underpin world-class digital transformation, cloud-based services, and rock-solid cybersecurity. Softline India, recently unveiled its state of the art SOC in Bangalore base on Azure Sentinel giving customers a truly capex light & future proof SOC service offering.

PHDCCI launches its Border Tourism Webinar Series with a view to explore the tourism potential in the border districts of India

PHDCCI launches its Border Tourism Webinar Series with a view to explore the tourism potential in the border districts of India

PHD Chamber of Commerce and Industry (PHDCCI) has launched its Border Tourism Webinar Series with a view to explore the tourism potential in the border districts of India and to create awareness about the lesser-known destinations across the country. The fourth webinar in the series held on 30 July 2021 focused on East Khasi Hills district for the promotion of Border Tourism in Meghalaya.

Delivering the Keynote Address, Mr. Vinod Zutshi (Retd. IAS), Former Secretary – Ministry of Tourism, Government of India, said that Border Tourism has immense potential if promoted and marketed well as it gives an opportunity to see the neighboring countries without actually crossing the border. Campaigns like ‘Dekho Apna Aur Padosi Desh’ can be introduced to promote semi international travel. A national level seminar should be organized by the Ministry of Tourism with all the 18 Border States and UTs to create awareness and buzz about this segment, which will help to increase domestic as well as international tourists.

Mr. Zutshi further said that ease of access to zero line; ensuring last mile connectivity; creating economic activities around border towns will be the key drivers for promoting Border Tourism in Meghalaya. There is a huge potential for promoting Monsoon Tourism in the state as Cherrapunji is known for being the wettest place on Earth. Emphasis should also be given on Festivals and the state government should create a mega Tourism Festival on the lines of Hornbill Festival in Nagaland.

Mr. Cyril V. D. Diengdoh (IAS), Director – Tourism, Government of Meghalaya, said that the state has seen a steady growth of tourist arrivals from Bangladesh over the years with 4,300 arrivals in 2014, which went up to 13,000 in 2018. A MoU has been signed between Tour Operators Association of Meghalaya and Bangladesh Tour Operators Association to promote Mountain to Sea Tourism.

He further mentioned that the tourism department is keen to develop ‘Experiential Eco Tourism’ apart from Adventure Tourism, Rural Tourism and Homestays. In order to enhance the experience of tourists, the state government is following the three fundamentals – right pricing, carrying capacity and zero waste. He also informed that Meghalaya Tourism has come up with a mobile app that provides a one-stop solution to tourists who wish to plan a trip and helps in contactless check-in following the safety protocols.

Ms. Varianarica Syiem (IAS), Director – Border Areas Development Department, Government of Meghalaya, informed that there are 13 border blocks in the state and 435 recognized border villages. In order to ensure ease of movement for the tourists, several projects have been funded under the Border Area Development Programme (BADP) for construction of roads, parking and wayside amenities.

Mr. T. Kabilan (IDAS), Director – North Eastern States, NITI Aayog, informed that the Government is keen on promoting Homestays in the state as that will aid off-beat, experiential tourism in addition to increasing options for the domestic and international tourists. He further said that Tourism has the greatest potential for generating income and employment opportunities and therefore it should be integrated in a manner that the youth in North-East Indian states do not have to move out for livelihood.

Mr. S. S. Dev Barman, Regional Director, Indiatourism North East, said that the region is endowed with diverse tourist attractions and each state has its own distinct features. Besides having spectacular biodiversity, wildlife, snow-capped Himalayas, tropical forests, shrines of diverse religions and prominent archaeological sites, the Northeast India provides an immense opportunity for Medical Tourism which can attract tourists from the South East Asian countries.

While giving an overview on the East Khasi Hills district, Mr. Alexander S. Mukhim (MCS), Additional Deputy Commissioner, I/c Sohra Civil Sub-Division – East Khasi Hills District, Government of Meghalaya, shared that new tourist sites are being developed in the district and the government has helped in providing support and assistance in the maintenance of these sites.

Mr. Arijit Purkayastha, Chairman – North East Chapter, Association of Domestic Tour Operators of India, talked about the different aspects of tourism – cultural, natural and spiritual which offers a prospect to promote Experiential Travel in Meghalaya.

Mr. Parambir Singh Sehdave, President, Federation of Shillong Hotels, emphasized the need to improve infrastructure, connectivity in the state which will help to double the number of tourists especially from Bangladesh. He also emphasized on the need for tourism education and skill development in the border areas which will help to generate employment.

In his presidential address, Mr. Sanjay Aggarwal, President, PHDCCI, mentioned that the problem of border districts and tourism development is recognized as an important challenge for local communities along the border. Although institutional environment and security barriers remain the stumbling block for entrepreneurial cooperation; conditions for Border Tourism enhancement can be enabled through the setting up of frameworks for easier cooperation of public, private and civil actors.

Mr. Anil Parashar, Chairman – Tourism Committee, PHDCCI, said that Meghalaya has some of the thickest primary forests in the country and therefore constitutes one of the most important eco-tourism circuits in India. He further said that air and road connectivity, infrastructural facilities at tourist sites in terms of accommodation, transport, drinking water, sanitation, healthcare, needs to be addressed. However, all efforts to develop tourism infrastructure have to be done carefully, keeping in mind the fragility of the mountain environment.

Mr. Rajan Sehgal, Co-Chairman – Tourism Committee, PHDCCI delivered the formal vote of thanks and mentioned that PHDCCI will come out with a White Paper after each webinar and the recommendations shall be submitted to the relevant Ministries for their immediate action.

The webinar was moderated by Dr. Jatinder Singh, Director, PHDCCI, and received participation from senior government officials, tour operators, hoteliers, tour guides, airline professionals, travel associations, students from the travel and hospitality institutes.

PHDCCI’s webinar was supported by the Ministry of Tourism, Government of India; Meghalaya Tourism; DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R.E. Rogers India; Ajit Industries; Synergy Environics; Timberworkz; Jindal Stainless; P S Bedi & Co; IFFCO and Hindware.

The next webinar with Focus State – Gujarat is scheduled for 6 August 2021 from 3:00 PM – 5:00 PM and shall focus on Kutch district.

XLRI ExPGDM Hosts Human Resource Conclave KRONOS’21

XLRI ExPGDM Hosts Human Resource Conclave KRONOS’21

XLRI ExPGDM organised ‘KRONOS’21’, XLRI’s flagship Human Resources Conclave. The theme for the two-day virtual conclave was “Re-defining the Role of Human Resources for the Future”.

As the boundaries of HR have extended beyond horizons, the way HR practices are managed, and run is becoming vigorous, agile, and embedded with digital interventions. The whole idea of work, workplace, and human resources has evolved in the prevailing covid pandemic. This conclave aimed at providing a platform and brought leading HR professionals and academicians to share experiences and insights on the ever-changing dynamics of the industry,

The conclave was inaugurated with the Dean Academics Dr. Ashish K. Pani’s speech followed by a welcome address by Dr. Anita Sarkar, Chairperson, HRM Area, XLRI Jamshedpur and address by Chief Guest Ms. Deepa Narayan, VP, Employee Success at Salesforce on ‘Rethinking HRM Amidst Disruptions’.

A Keynote followed inaugural Session Address by Ms. Rajlakshmi Saikia, Vice President, Global Learning Operations, Genpact on “Next-Gen HRM”.

After keynote session Ms. Sweta Mohapatra, Ms. Shriya Dutt, Ms. Monica Dhar, Ms. Puneet Rajput, engaged in a Panel Discussion on ‘Decoding Diversity and Inclusion’ and the session was moderated by Dr. Shreyashi Chakraborty, Chairperson, Centre for Gender Equality & Inclusive Leadership, XLRI.

There was an Experience Sharing session by Ms. Susan Mathew, HR Head India, LinkedIn – Human Resources Planning During COVID-19. Day one concluded with Experts ki Pathshala by Mr. Anish Raj, Director HR, Sentieo Mr. Vipin Sharma, Head HR – Strategy, Analytics and HR Innovation Lab, Tata Steel

The audience comprised an eclectic mix of professionals and students across various fields viz., IT, Manufacturing, BFSI, Construction etc., faculty members, and guests.

On the first day, the conclave witnessed HR experts & leaders from various Industries which include Ms. Sweta Mohapatra, Associate Director HR, Fortune 500; Ms. Shriya Dutt, Director HR & India S/W HR Lead, Qualcomm; Ms. Monica Dhar, General Manager HR, Reliance Industries; Ms. Puneet Rajput, HR Head, Thermofisher Scientific; Ms. Rajlakshmi Saikia, Vice President, Global Learning Operations, Genpact; Mr. Anish Raj, Director HR, Sentieo; Mr. Vipin Sharma, Head HR – Strategy, Analytics and HR Innovation Lab, Tata Steel

In the Inaugural address Dr. Ashish K. Pani, Dean Academics XLRI- Xavier School of Management, Jamshedpur said, “On the behalf of the institute, I invite all speakers, delegates and students to KRONOS’21 Human Resources Conclave. XLRI is one of the best management schools in India and the key characteristics that set apart XLRI from the other management schools in the ranges a quest for the best, never settle down to mediocrity and always aspire to excel. Instead of cruising circumstances to change and become different, Magis driven person either make them happen or make the most of them instead of waiting for the golden opportunity. The future CHROs would need to be both strategic and a brilliant tactician, brilliant mind in navigating the new normal. The new world of work with a HR movement, will leads organization with a growth survival and digital mindset. A tremendous opportunity, responsibility also provides leaders with guidance on the skills and capabilities needs to be successful as new roles continuously change and redefining the role of human resource for the future. In order to grow professionally, we need evolve mentally and emotionally. During this two-day conclave, student will learn many things that are happening in the world of HR and will get benefited from topics discussed and the insight from them”.

In welcome address Dr. Anita Sarkar, Chairperson, HRM Area, XLRI Jamshedpur Said” On behalf of XLRI fraternity, I extend my heartfelt welcome to all speakers and students. The two-days KRONOS’21 conclave is a unique initiative by our Ex PGDM Students where Industry and academia meet and together explore the role of HR, and employees & employer relationship. A very relevant theme has been chosen – ‘Redefining the role of Human Resource for the future’. The pandemic has taught many lessons and have similarly posed many questions for e.g. what will be the employee -employer relationship in a hybrid work arrangement that we are currently operating in or what we are going to have in the future, how to successfully transition into a digitalised world and how to maintain inclusivity by incorporating everyone. I believe the two-day conclave will help us to seek answers to many such questions and even help us to generate a few more infringing questions”.

While speaking on ‘Rethinking HRM Amidst Disruptions’ Ms. Deepa Narayan, VP, Employee Success at Salesforce Said “What happened to all of us a year and a half ago, covid came like whiplash, it nudged all of us hard to think and it redefined our choices. we are talking about how we can be optimistic at the same time to be grounded with realities. The world going forward will require leaders that can blend courage and compassion together”.

On Day-2, starting with the keynote session on ‘Leadership Agility’ by Mr. Suresh Narayanan, Chairman and Managing Director, Nestle India Ltd and ‘How to be the best candidate for hiring?’ by Mr. Anurag Patnaik, Head of Human Resource, Nestle. The plenary address by Mr. Abhijit Bhaduri will be on ‘Careers in a Hybrid Corporate World’ and a Heart-to-Heart Chat with Ma Foi K. Pandiarajan post lunch. Followed by the Heart-to-Heart Chat will be the Batch Profile Release for the ExPGDM batch of 2021-22 which consists of 114 professionals with a work experience of 5+ years from various industries like IT, BFSI, Manufacturing, Construction, etc.

Pandemic creates opportunities to enhance Indo-US tech ties…

Pandemic creates opportunities to enhance Indo-US tech ties

New Delhi: As the online and technology space witnessed great strides amid the Covid-19 pandemic, the India-US relations in terms of information & technology have scope to growth further in much greater pace.

Speaking at the 2nd Indo-US Services Summit organised by Indo-American Chamber of Commerce-NIC on Information & Technology (IT) and digital transformation, Dr. Omkar Rai, Director General, STPI, Ministry of Electronics and Information Technology, Government of India, noted that technology is a major binding force in the Indo-US relations.

“India and US relationship is so complementary. Their interest is also technology-based, our cultivation, collaboration lies in technology,” Rai said.

Saying that amid the lockdown India witnessed transformation and disruption, he added that the digital readiness of the nation was tested during the time.

The leap in terms of digital economy and online processes which India has achieved in the past one month is because of the robust IT services sector in India, he added.

“As we saw the pandemic’s impact in hospitality, tourism, we also saw great progress in other sectors such as education as we started online classes immediately,” he said, adding that going ahead much more immersive and animated content will need to be created.

Such efforts are going to create a lot of opportunity in the technology to digitise the entire ecosystem.

Mr. Michael Rosenthal, Director of North India, US Embassy, noted that IT is a vital sector as digitalization has become important for inclusive and sustainable development of both Indian and US economies.

Noting that India’s digital economy annually generates $20 billion dollar, he said: “In the US Embassy, it is considered that in terms of businesses, US is the largest partner of Indian IT players.”

Stressing on India’s standing in the global front in terms of IT, Rosenthal added that India offers major scope for global players.

Highlighting India’s booming digital technology space, Arun Karna, Regional Vice President of IACC, observed that since the pandemic has seen the adoption of digital technology has increased rapidly.

Other speaker in the session was Mr. Anup Purohit, Executive Council Member & Global Chief Information Officer, Wipro Ltd, Ms. Mamatha Madireddy, Centre Director GSC Hyderabad, Chennai, Kolkata, Vizag, HSBC and Mr. Rajesh Thakur, CEO, MothersonSumi INfotech & Designs Ltd (MIND).

The virtual summit 2nd Indo-US Services Summit on Leveraging Services Sector to Trigger Post –COVID 19 Economic Recovery”, which involves stakeholders from India and the US is a step towards creating newer ideas to ensure recovery of the sector. It is also an attempt to discern the present state, compile challenges and to evolve a consensual roadmap for inducting dynamism in those segments in a time bound manner.

Select segments that were focused during discussions were travel, tourism & hospitality, healthcare, energy, media & entertainment.

Co- Director of Human, Mozez Singh, showers praises for actor Kirti Kulhari…

Actor Kirti Kulhari
Actor Kirti Kulhari

Co-Director of the upcoming show, Human, Mozez Singh, is one director who believes in showcasing his admiration for his cast, as is well deserved. As Co-captain of the upcoming show, ‘Human,’ alongside Producer Vipul Amrutlal Shah, Mozez took to his social media to shower praises on Actor Kirti Kulhari.

The appreciation post came via Instagram wherein Mozez stated that, “The most exciting thing about working with any actor is when the actor takes the given part many notches higher, sometimes kicking the ball way out of the park. Your extreme emotional intelligence, your delicate nuances, your willingness to dive into the deep end & your constant refusal in not accepting a take till it was more than superb had both the directors, Vipul Sir and I, in your complete thrall. Thank you for the tremendous experience of working with you Kirti. The shoot is over but the celebrations begin now . Let’s lose ourselves to a cosmic dance ! Let’s fly !”

An overwhelmed Kirti was quick to reply back in comments stating that, “Awwww Mozez this is the sweetest thing a director has done for me.. written an appreciation post … m so touched.. had been waiting to see what you write for me I have learnt so much from the two of u and together, I would like to believe that we have created something special. thank u for being a father to #sairasabharwal and bringing her into this world ..shoot comes to an and celebrations begin see u super soon.. and thank u once again for not just writing the series but also co directing it .”

One thing is for sure, we cannot wait to see Kirti AKA Saira Sabharwal’s character unravel in the upcoming show Human, co directed by Vipul Amrutlal Shah and Mozez Singh, and produced by Vipul Amrutlal Shah.

Keeping up with the legacy of commendable results, GIIS Noida’s class XII students achieve meritorious score in CBSE 2021 exams

Noida: CBSE announced the results of class XII 2021 batch today and the students of Global Indian International School (GIIS), Noida achieved commendable results. Board examination for class XII were deferred and ultimately cancelled in the month of June, 2021 owing to the COVID pandemic. Student safety was prioritised and to ensure a fair and inclusive evaluation methodology, a well thought through assessment procedure was adopted in consultation with academic experts and authorities. The evaluation metrics consisted of a student’s class Xth board results, Class XI marks, Class XII internal scores and class XII pre-board results/internal evaluation.

The cohort has achieved outstanding results this year with a 100% pass percentage across Science, Commerce and Humanities streams. The students of batch 2020-2021 were the second batch of Grade XII graduating from GIIS Noida. Number of students scoring above 90% with respect to last year have trebled & about 50% students have scored 80% and above this year.

Aditya Chandra topped this year with 95.4%, while Archit Trivedi and Akshat Sharma secured second and third rank with 92% and 91.6% respectively. All three toppers are from the science stream.

Commenting on the performance of the students, Mr. Ganesh Sharma, Principal, Global Indian International School (GIIS) Noida said, “Class XII is the stepping stone for a student’s career journey and the year 2020-2021 was exceptionally difficult for the student community owing to uncertainties caused by COVID-19. From too many changes in the ecosystem, to uncertainty of timelines and procedures of board exams and preparation for entrance exams simultaneously – the students had to go through added stress at all stages. The teachers and parents extended the much needed support and encouragement to the students throughout this period. Considering the crucial situation, I am glad that our students displayed immense maturity and remained resilient and optimistic. We wish them all the best for their future.”

Class XII is a key milestone in a student’s academic journey as it forms the basis of future vocational learning and career choices. Admissions in the undergraduate courses across India and abroad are dependent on these results, which will allow students and their parents to prepare for entrance examinations and finalise admission in their college / university / course of choice. Playing the critical role of bridging the knowledge and counselling gap for students while they transition from school to universities, GIIS has been organizing a series of webinars where students got an opportunity to interact with the best-in-class global and Indian universities to explore admission possibilities and understand processes and protocols in detail and prepare for associated formalities.

Paytm now lets you order food, medicines and shop online in Hyderabad through its Mini-App Store

India’s leading digital financial services platform Paytm today announced the launch of its city-specific mini-app ‘Halo Hyderabad’. It is the one-stop destination to discover Hyderabad’s popular restaurants, shops, events & news. Users will be able to avail the best offers & discounts from the listed merchants.

To gain access to the deals and scroll through all of Paytm partner apps, users can visit the Mini-App Store on their Paytm App and click on ‘Halo Hyderabad’.

The mini-app store will enable the users to book doctor’s appointments, ride cabs, order products for home delivery, purchase travel & entertainment tickets, and also book slots for COVID vaccinations. Through the company’s partners, users can order food from Hyderabad’s famous restaurants like Ulavacharu, Ram Ki Bandi, Churrolto, Chai Kings, Euphoria bakers, London Bubbles Co, Mamagoto, Pakka Local, Samosa Singh and Grand Trunk Road or order anything they want from pearl earrings, sandalwood oil & incense sticks to coffee, toys, and so much more.

Additionally, the health and wellness store within the Mini-App Store will give users one-click access to a large selection of health supplements, essential vitamins, immunity boosters & ayurvedic medicines through top health tech platforms including 1mg, Netmeds, Apollo 24×7, DocsApp/Medibuddy, Zyla, Mfine, and Credihealth among others.

Paytm Spokesperson said, “Hyderabad is an important city for Paytm. We hope that with the launch of the city-specific mini app ‘Halo Hyderabad’, we will bring convenience for our users by helping them discover the best deals & offers from nearby stores and also get access to local services.”

Fino Payments Bank becomes the first profitable fintech to file for an IPO

The IPO size is likely to be of ₹1,300 cr and will include a fresh issue of ₹ 300 cr as well as an OFS component

Mumbai: Four years after starting operations as a payments bank, Blackstone, ICICI Group and BPCL backed Fino Payments Bank Limited (FPBL) has filed the draft documents with SEBI for an IPO. As per market sources, the IPO size is likely to be of ₹1,300 crores. The issue includes a fresh issue of ₹ 300 cr as well as an OFS component.

FPBL is a scheduled commercial bank serving the emerging India market with its digital based financial services. The company is a fully owned subsidiary of Fino Paytech Limited (FPL), a pioneer in technology enabled financial inclusion solutions. FPL is backed by marquee investors like Blackstone, ICICI Group, Bharat Petroleum and IFC, amongst others.

The fintech bank turned profitable in the fourth quarter of FY20 and has consistently enhanced its profitability since. This makes FPBL the first profitable fintech to file for an IPO.

Over the last few years, FPBL has witnessed a steep surge in transaction volumes on the back of digitization and proliferation of its banking points. As stated in the DRHP, in FY21 the payment bank’s platform has facilitated more than 434 million transactions having a gross transaction value of Rs 1.32 lakh crores. It has a strong leadership position in the fintech industry having the largest network of micro ATMs as of March 2021 with a market share of 55%, a robust merchant network of 6.4 lakhs and 25.7 lakh bank accounts.

Digital based transaction focused approach with no credit risk have enabled the growth of FPBL in times wherein the financial sector was looming over challenges. Its revenue for FY21 stood at ₹791 crores that grew at a CAGR of 29% in the last three years. The bank registered a profit of ₹20.5 crores in FY21 with an annual average ROE of 15%, the DRHP states.

Investment bankers appointed to the issue are Axis Capital Ltd, CLSA India Pvt Ltd, ICICI Securities Ltd and Nomura Financial Advisory Services Pvt Ltd

Union Minister Rajnath Singh ji meets G&J Industry delegates led by UP Sarafa Association and GJC on concerns related to Hallmarking

National, 31st July 2021: A delegation team led by UP Sarafa Association along with GJC met Hon. Union Minister Shri Rajnath Singh ji (also senior BJP leader and member of Parliament from Lucknow) on the mandatory hallmarking issue. Shri Rajnath Singh ji patiently heard the concerns and issues highlighted on mandatory hallmarking for jewellery by the delegation. He then called Hon. Union Minister Shri Piyush Goyal ji and advised him to schedule a meeting with the Gem & Jewellery industry delegates early next week

The UP Sarafa Association delegation was led by Mr. Mahesh Chandra Jain, along with GJC delegations Mr. Nitin Khandelwal and Dinesh Jain along with Industry delegates Mr. Ravinath Rastogi, Mr. Rajan Rastogi, Mr. Abhishek Khere and Mr. Pradip Agrawal among others.

The next crucial meeting of the Advisory committee will be held on 2nd August 2021.

Mr. Nitin Khandelwal, past Chairman, GJC, said, “We are grateful to hon. Union Minister Shri Rajnath Singh ji for his patient hearing and glad that the UP Sarafa Association lined up this significant meeting. The plight of lakhs of MSME jewellers & craftsmen is at stake. We recommend the Government to acknowledge NITI Aayog report on Gems & Jewellery Industry for smoother implementation of the Hallmarking regime.”

Mr. Dinesh Jain, Director, GJC, said, “Industry’s annual business of Rs. 4.5 lakh crore assuming 900 tonnes of gold is on standstill leading to chaos and collapse. The existing stock of approx. 5 crore jewellery pieces and new stock of 12 crore pieces will take years to hallmark. We are hopeful that the next meeting with Honourable Minister Shri Piyush Goyal ji will resolve our pending issues.”

Many jewellers have opposed the existing form of mandatory hallmarking including HUID (Hallmarking unique ID), fearing return to Search & Seizure and ‘License Raaj’ by BIS officials, no accountability by the Assaying & Hallmarking Centres and losses of jobs and livelihood. GJC is hopeful that the BIS will follow all its detailed Standard Operating Procedures (SOPs) submitted by GJC in the last advisory meeting and recommendations earnestly for a viable implementation of mandatory hallmarking of jewellery in the country.