Archive: December 8, 2022

South Indian Bank scores a six at the Indian Banking Association Awards, 2022

Mumbai: For the second year in a row, the South Indian Bank (SIB) won handsomely at the Indian Banking Association (IBA) Awards, 2022.

At the 18th edition of the awards, SIB bagged podium honours in six out of seven categories. Sri Rabi Sankar, Deputy Governor of the RBI, handed over the awards at a glittering ceremony held in Mumbai on December 3.

SIB grabbed the honours in the following categories:

Ø Winner – Best IT Risk Management

Ø Runner Up – Best Technology Bank of the Year

Ø Runner Up – Best Use of AI/ML adoption

Ø Runner Up – Digital Sales & Engagement

Ø Runner Up – Technology talent and organisation

Ø Special Mention – Best Fintech Collaboration

The awards acknowledge SIB’s amplified focus on new-age digital technology such as AI/ML (artificial intelligence/machine language), RPA (Robotic Process Automation), Data Analytics and Cloud Adoption. It also rewards the bank for entering into strategic partnerships to deliver new products and services for an enhanced customer experience.

Sharing his happiness on the occasion, Mr. Murali Ramakrishnan, MD & CEO of South Indian Bank, said, “We are happy that the IBA has recognised our technological prowess. Winning the IBA awards in multiple categories over two successive years is a great recognition of our ongoing efforts to become the next generation bank. This validates our efforts to become a technology-driven organisation founded on trust. They further inspire us to continue investing in technology frameworks in an endeavour to become the next-generation bank.”

The IBA awards are much sought-after and considered one of the prime acknowledgements in banking excellence. The annual awards recognise initiatives and practises across 247 banking companies operating in India.

This year’s IBA recognitions centred on the theme “The Future of Digital and Analytics” acknowledge the technologies and practises adopted in the banking industry over the past year. The practises represent initiatives that demonstrate a high degree of innovation. For 2022, the awards were clubbed into categories based on the size of the advances: small (advances of 0–2 lakh crore), medium (advances of 2–5 lakh crore), and large banks (advances above 5 lakh crore).

Short Video Community – Tiki becomes the Global Distribution Partner for The Game Awards 2022

New Delhi, 08 December 2022: Tiki, a short video community, in its endeavor to strive for a robust and evolved short video ecosystem in India, today, announced its partnership with The Games Awards as their Global Distribution Partner in India. With this, Tiki has gone the extra mile to contribute to the fastest-growing segment of the media and entertainment industry in India: the gaming sector. Tiki is the only short video platform in India to offer live streaming of the ceremony, along with that the brand has launched a collaborative hashtag #RealVSGame filter for the creators.

The Game Awards brings together game creators, e-sports athletes, digital influencers, fans, and the entertainment industry for a night of awards, exclusive game world premieres, and musical performances. In 2021, it delivered over 85 million live streams and was hailed as “the Oscars for the gaming world” by the New York Times. It is one of the largest live-streamed events of the year on the internet.

On the collaboration, Mr. Ian Goh, CEO, of Tiki, said, Tiki is thrilled to announce that we’ve joined hands with The Game Awards (TGA) as its Global Distribution Partner to bring world-class entertainment content to a 30 million strong TIki community. The amplified cultural impact of gaming, combined with the promise of the metaverse, has generated a plethora of opportunities for the creators. Gamers are passionate and tech savvy but are also quite interested in fashion, fitness, and food. Therefore, Tiki aims to become a one-stop destination for all the needs of our creators. 

Commenting on the partnership, Geoff Keighley, Executive Producer and Host of TGA, said, “Our partnership with short video platform Tiki highlights our commitment and effort to acknowledge and support the gaming sector in India. Through social media, the entertainment industry has the ability to vastly grow its audiences, not just  locally but at a regional level as well. We bring together a diverse group of game developers, gamers, and notable names from popular culture to celebrate and advance gaming’s position as the most immersive, challenging and inspiring form of entertainment. We strive to recognize those who improve the well-being of the community and elevate voices that represent the future of the medium via Tiki.

The Indian short video market has experienced massive growth in the last two to three years. Short video formats are making inroads everywhere, from entertainment to commerce, edutainment to customer service, and even enterprise discussions. They are, undeniably, the medium of the future, and no one can afford to miss this train.

SIDBI and Monsha’at of Saudi Arabia join hands for MSME Co-operation

Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing, and development of Micro, Small & Medium Enterprises (MSMEs) in India has signed a Memorandum of Understanding (MoU) with Small & Medium Enterprises General Authority of The Kingdom of Saudi Arabia (Monsha’at) for exploring and collaborating on matters of common interest in the development and boosting of MSMEs and related ecosystems in their respective countries. SIDBI shall also offer its expertise and experience for the newly launched SME Bank in Saudi Arabia.

The said MoU is a part of the strategic bilateral initiatives which will help improve diplomatic relations between India and Saudi Arabia. The MoU was executed during the launch event of SME Bank at Riyadh on December 04, 2022, by Mr. Mazin Bin  Ahmed Al-Ghunaim, CEO, of SME Bank and Mr. V S V Rao, Deputy Managing Director on behalf of SIDBI and Monsha’at respectively.

Mr. Al-Ghunaim, CEO of SME Bank has mentioned that SIDBI’s collaboration would help to achieve the mission of the SME bank to drive the business journeys of SMEs by providing diverse digital financial products. He further informed that both organizations will explore cooperation in supporting MSMEs to expand their businesses, financial know-how in the respective fields of strength, supporting the Saudi SME Bank project technically, etc.

Mr. Rao mentioned that “the MoU provides several opportunities of collaboration between the MSME Institutions of the 2 countries. SIDBI has more than 32 years of experience in Development Finance in areas of SME Credit, Credit Guarantee, Venture Capital, Cluster Development, Institutional Finance, etc. SIDBI will be very happy to share its experience and knowledge to facilitate the growth and success of the new SME Bank of Saudi Arabia. SIDBI will also look forward to this opportunity to find positive linkages for Indian  MSMEs in Saudi Arabia”

RV University announces admissions open for 2023-24 academic year

December 8th, Bengaluru: RV University, India’s new-age university for liberal education has opened admissions for the year 2023-24. The university is accepting applications for admission for all its undergraduate and postgraduate programmes across its six schools – School of Business, School of Economics, School of Computer Science and Engineering, School of Design and Innovation, School of Liberal Arts and Sciences and its newly launched School of Law.

At RV University, we offer an interdisciplinary, experiential learning environment, encouraging our students to pursue new knowledge while challenging the existing principles through critical and creative thinking. Our courses are designed to imbibe lifelong skills of effective communication, critical thinking and problem-solving to help them prepare for the uncertain world. We believe in empowering and enabling our students with world-class holistic education. RVU strives for excellence in teaching, research, capacity building, and community engagement”, said Founding Vice Chancellor, of RV University, Prof. Y. S. R. Murthy

The University offers more than 40 programmes across streams with a wide range of majors, minors and specialisations to choose from. Students are encouraged to explore different subjects to discover their interests and pursue their passions”, he further added.

In his reaction, the Pro-Chancellor, RVU, Dr. (H.C.) A.V.S. Murthy said, “There is a genuine dearth of top quality higher educational institutions in India which can fulfil the growing aspirations of the current generation of students. The RV University seeks to fill this void through academic excellence and research. We are fully committed to making available necessary financial resources, creating world-class physical infrastructure and giving academic freedom to enable RV University to flourish.”

Pro-Vice Chancellor, RVU, Mr. D.P. Nagaraj said, “Studying in Bengaluru which is the Silicon Valley of India and Innovation hub opens up many opportunities. We are committed to diversity among our student population and wish to attract students from across India, South Asia and the rest of the world. We have forged over 75 collaborations with industry, civil society as well as top class universities across the world which will open many interesting opportunities for our students. I encourage prospective students to make full use of them.”

Candidates can apply through the online application available on the University’s website https://admissions.rvu.edu.in/The eligibility criteria for the undergraduate programme is a 10+2 or equivalent completion certificate from CBSE, ISC, IB, Cambridge, State Boards and other Govt. recognized boards. The selection criteria will be based on the applicant’s performance in RV Scholastic Admission Test (RVSAT) and RV University’s selection process. RVSAT is the national-level entrance exam for all UG and PG programmes of RV University. The university is offering merit scholarships for deserving students.

Jackfruit365 & BeatO combined study published by the International Diabetes Federation (IDF)

India, December 08, 2022: National award-winning start-ups, Jackfruit365, the company behind the patented green jackfruit flour known for its proven efficacy to control blood sugar among persons with diabetes (PWD), and BeatO, a comprehensive digital care platform that provides easy solutions for controlling and managing diabetes, partnered to evaluate the efficacy of medical nutrition therapy (MNT) with Jackfruit365 green jackfruit flour combined with BeatO’s smartphone integrated connected care for Indian patients with diabetes. This study was published today at the International Diabetes Federation (IDF) Congress in Lisbon.

The study suggests that the incorporation of Jackfruit365 green jackfruit flour in medical nutrition therapy (MNT) combined with an online CDE (Certified Diabetes Educator) counseling triggered by real-time self-monitoring of blood glucose levels on BeatO app using a smartphone-connected glucometer significantly reduced average blood glucose levels in three weeks with higher efficacy in the higher HbA1c subgroup.

Green jackfruit flour has been reported to lower glycaemic load (GL) because of its high fiber, both soluble and insoluble, and lower carbohydrate and calorie content. Jackfruit365 green jackfruit flour used in medical nutrition therapy (MNT) along with pharmacological interventions led to a significant reduction in HbA1c levels and PPG (post prandial blood glucose), demonstrating its efficacy in MNT (medical nutrition therapy) in T2DM (type 2 diabetes mellitus) patients.

Mr. James Joseph, Founder, of Jackfruit365.com said, “Diabetes is a serious & rapidly growing health issue among the masses in India. There are more than 70 million people suffering from diabetes which is expected to rise to over 134 million by 2045. Partnering with BeatO has led us toward the digital revolution in diabetes care. This study with closely monitored BeatO’s smartphone-integrated connected care service demonstrates a reduction in average blood sugar level in just three weeks of consumption of green jackfruit flour. We are glad the scientific committee of IDF accepted our joint study to demonstrate the opportunity to combine MNT with green jackfruit flour with a more frequent and affordable smartphone-integrated monitoring of blood sugar levels with BeatO App. We commend BeatO for coming up with such an innovative, easy-to-use solution.”

A gold standard study on Jackfruit365 green jackfruit flour conducted at the Government Medical College, Srikakulam, Andhra Pradesh, India, has been published in American Diabetes Association and Nature group journals. BeatO’s real-world evidence-based studies have been published in global forums such as the prestigious American Diabetes Association (ADA), International Diabetes Federation (IDF), and the Advanced Technologies and Treatment for Diabetes (ATTD).

While this gold standard clinical study highlights the therapeutic potential of green jackfruit flour integration in everyday meals for persons with diabetes, the real-time monitoring of blood glucose in diabetics through the BeatO app during green jackfruit flour consumption has enabled both patients and healthcare professionals to experience the combined efficacy much faster. This study comprising 353 people has highlighted the potential of technology combined with intake of a clinically proven dietary ingredient in effectively monitoring and controlling blood sugar in individuals with diabetes.

Gautam Chopra, Co-Founder, and CEO of BeatO said,My greatest source of satisfaction and motivation at work comes from hearing stories of our members, and how BeatO has helped improve their sugar levels, overall health, and quality of life. It’s heartening to see our users live better, healthier, and happier life because of the small changes they could make with BeatO. We keep customers at our core and persevere to build products according to their needs. Partnering with Jackfruit365 has paved way for an affordable diet solution to diabetes management for the masses; making the green jackfruit available in the form of flour for consumption round the year has opened avenues for the majority of the population to intake a healthy diet and clubbed with real-time self-monitoring, they can see the improvements and move towards an aspirational lifestyle.”

Dr. Mudit Sabharwal, Consultant Physician at BeatO talking about digital diabetes care said, “App-based connected care ecosystem for management of chronic conditions like diabetes helps with patient management and results in better health outcomes. BeatO is bridging barriers and has enabled doctors to track various biomarkers and make individualised precise treatment strategies for better outcomes. For patients, it has resulted in ease of monitoring their medical conditions and better compliance. Real-time glucose self-monitoring clubbed with an appropriate meal plan has reflected improvements in conditions of many BeatO users. With the incorporation of green jackfruit flour in the diet plan, the reduction in average blood glucose levels were seen in just three weeks. BeatO can facilitate the scaling of such a practice and contribute immensely towards prevention and management of diabetes.”

A multi-centric retrospective study of the digital medical records of uncontrolled DM (Diabetes Mellitus) patients (n=353) who had a smartphone-connected glucometer (SCG) (BeatO) for real-time monitoring of their blood glucose levels was conducted. The mean age of the subjects was 52.76±13.07 years, with a mean BMI of 26.46±4.93 kg/m2. These patients consumed Jackfruit365 green jackfruit flour (30g/day daily for 3 weeks, replacing an equal volume of rice or wheat flour) alongside pharmacological interventions and regular counseling by BeatO’s CDE (at least one session) for 3 weeks.

In the 3rd week of consumption, the average blood glucose levels significantly reduced from 185.4±68 to 151.1±80 (p <0.001) with a significant decrease (20.84%; p<0.002) in post-meal blood glucose levels, compared to one week before Jackfruit365 green jackfruit flour consumption. For the two subgroups (HbA1c>10% & HbA1c 8-10% at the week prior), a significantly higher reduction in average blood glucose was observed i.e. 223±103 to 175±101 (21.3%; p<0.002), in the high baseline HbA1c group, compared to 204±93 to 164±95 (19.4%; p<0.003), in the latter group. A similar higher reduction in HbA1c levels was also seen in the latter group (2.17% vs 1.01%), respectively. No new hypoglycaemic events were seen during the treatment period.