Archive: November 30, 2023

Godrej Capital Nirmaan partners with DBS Bank India, Visa, and Amazon to aid MSME growth

Mumbai, 30th November 2023: Godrej Capital, the financial services arm of the Godrej Group, is betting bigger on its Nirmaan platform by significantly expanding its collaborative network. Partnerships with industry stalwarts such as DBS Bank India, Visa, Amazon, and others underscore Godrej Capital’s commitment to providing growth opportunities for MSME owners. These collaborations are designed to empower MSMEs, offering a diverse array of value-added services and comprehensive support throughout their business journey. In a testament to its commitment, Nirmaan has expanded its collaborative model to include 13+ partners, aligning with a vision to actively contribute to the growth of MSMEs in the dynamic landscape of the Indian financial services sector.

The platform aims to foster growth revolving around three critical areas for MSMEs:

· Expansion of customer base

· Streamlining of operations

· Enhancement of employee productivity

Speaking about the partnership, Manish Shah, MD & CEO at Godrej Capital, said, “We are delighted to expand our partner ecosystem, reinforcing our commitment to help MSMEs grow, through Nirmaan. We aim to be catalysts and help MSMEs beyond lending by being a part of their business growth journey. Aligned with the Godrej Group’s nation-building ethos, we see ourselves as enablers and we firmly believe that, with the collective commitment and services provided by our partners, we can make a difference and contribute towards making India a 5 trillion-dollar economy.”

This partnership will enable DBS Bank India to offer MSMEs access to a comprehensive suite of value-added services, featuring a customised current account. Businesses registered with Nirmaan can enjoy exclusive benefits that go beyond the regular suite of offerings such as – a 1-year waiver on Minimum Average Quarterly Balance non-maintenance fees, seamless integration with Tally ERP for connected banking, highly competitive trade and FX pricing, the convenience of a Business Debit Card powered by Visa, and exclusive partner offers, providing holistic financial support for MSMEs.

Commenting on the partnership, Rajat Verma, MD and Head Institutional Banking Group, DBS Bank India, said, “Leveraging our local market insights and deep understanding of business realities, DBS Bank India has created an innovative offering with Godrej Capital Nirmaan. We have designed an exclusive set of benefits for MSMEs on Nirmaan that will help free-up cash flows through special fee-waivers on the current account variant, along with a host of partner offers to enhance business agility. The partnership underlines our commitment to empowering MSMEs across India to unlock their growth aspirations.”

Visa, a global leader in digital payments, will provide comprehensive payment solutions for MSMEs through the Nirmaan platform. Its extensive network and global acceptance will also support DBS Bank India’s specially curated offerings for Nirmaan users.

Sujai Raina, Vice President and Head – Business Development, India, Visa said, “We are delighted to collaborate with Godrej Capital Nirmaan and DBS Bank India to offer comprehensive payment services to small businesses in India. MSMEs are vital to the socio-economic and inclusive growth of the country, and Visa helps them unlock opportunities and value with its solutions. We are facilitating the DBS Current Account with a Business Debit Card offering specially curated for Nirmaan users, that allows MSMEs to make payments seamlessly, thus enabling them to drive business priorities and growth imperatives”.

Amazon’s partnership with Nirmaan will help MSMEs showcase and sell their products to customers across India by listing them on Amazon.in. It will additionally help open the door to global markets, with a three-month subscription to Amazon’s e-commerce exports program called Amazon Global Selling. Nirmaan users will also be able to get free-of-cost access to website creation and omni-channel inventory management solutions from Smart Commerce by Amazon until March 2024.

Speaking on the partnership, Gaurav Bhatnagar, Head – Seller Acquisition at Amazon India said, “Amazon is deeply committed to forging partnerships with MSMEs to address the ever-evolving customer landscape, with a focus on our three fundamental pillars: selection, value, and convenience. Through our collaboration with Godrej Capital Nirmaan, we aim to bring the benefits of digitization and e-commerce closer to MSMEs. They will be able to leverage Amazon to showcase and sell their products to customers across India and capitalize on export opportunities. They will also be able to digitize their day-to-day operations through omni-channel inventory management solutions. We believe that such collaborations will help MSMEs serve their customers with unparalleled dedication and grow their business excellence.”

In addition to the existing partners Onsurity, Zolvit and MSMEx, the new partners – GeM Tech Paras, Escrowpay, GreytHR, and Serapis Knowledge Solutions – will provide MSMEs with access to a wider range of solutions to help them grow their businesses.

Focusing on overall value creation through ecosystem development and partnerships, Godrej Capital Nirmaan aims to contribute towards the entrepreneurial and socio-economic development of the MSME sector in India, ultimately contributing to the growth of the economy and nation-building. The platform goes beyond lending offerings and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.

TERI knowledge documents highlight imperatives for the Global South on adaptation and energy transitions ahead of COP28

New Delhi, November 30, 2023: Researchers at The Energy and Resources Institute (TERI) launched two crucial policy briefs ahead of the much anticipated 28th Conference of the Parties (COP28) scheduled from November 30 to December 12, 2023 at Dubai, UAE.

Former climate negotiator, Ambassador Manjeev Singh Puri, a Distinguished Fellow at TERI emphasized, “Adaptation is an imperative and absolute must in present times for the Global South. COP28 needs to make the Global Goal on Adaptation (GGA) integral to climate commitments and action”.

“Climate change demands that energy use must be sustainable; the development imperative of the Global South demands it to be inclusive, just and fair,” Mr Puri added.

Outcome on GGA will be a key determinant for the success of COP28

The policy brief titled ‘Road to Dubai and The Global Goal on Adaption’ reviewed the discussions around the GGA framework to provide perspectives on what could be a robust, equitable, and flexible outcome of the GGA process at COP28. The outcome on GGA will be a key determinant of the success of COP28.

The policy brief underscored that the definition of adaptation should lay emphasis on human and natural systems and not countries. IPCC definition of adaptation emphasizes human and natural systems and not countries. A paradigm shift in the climate regime is needed regarding adaptation. In other words, there is a need to revisit the problem statement. While the approach in climate change negotiations will be country-driven, the GGA framework implementation needs to factor in nuances and a disaggregate picture of vulnerability within countries. Means of implementation, such as capacity-building on data systems, are crucial not only for Monitoring, Evaluation, and Learning (MEL) purposes but also to avoid maladaptation. All indicators, including input, output, and outcome indicators, are important.

The New Collective Quantified Goal on Climate Finance (NCQG), starting from 2025, is currently in the process of discussion; therefore, it must be based on the needs and requirements of the developing countries, especially considering the need to balance between adaptation climate finance and mitigation climate finance. Along with the Global Stocktake (GST), NCQG must also be linked to the GGA framework. An important outcome of COP28 could be that the global community commits to securing basic universal enablers of adaptation at all scales, for example, universal access to early warning systems.

Energy transitions should be inclusive and consider unique circumstances of Global South

Keeping up with the growing demands for clean energy, TERI researchers also released a policy brief titled “Just Energy Transition Partnerships, Climate Action, and Minilateralism” The policy brief cited the limited success rate of global climate agreements in generating consensus and how developing a more targeted approach to achieving goals, minilateralism has steadily emerged as an alternate approach in climate geopolitics.

The policy brief critically examined Just Energy Transition Partnerships which gained visibility from G7. The brief underscores that the current public cum private financing model adopted by JETPs is not sustainable in the long run. The primary focus on loans rather than on grants and the lack of concessional loans for developing economies make JETPs a non-starter for most countries in the Global South. It is ironic that Global South must take loans to solve a problem that they did not cause. Moreover, there is a mismatch between the funds that have been committed and the actual financial needs of economies for transitioning towards clean energy. Existing JETPs suffer from a lack of interconnection between the energy demand and the supply side. Further, there is also a need to invest in technologies such as battery storage and grids that support flexibility.

The launch of two briefs could not have been more timely, ahead of what is widely considered to be the most decisive COP.

Discord Opens Shop to Enable All Users to Decorate and Have Fun With Their Discord Profile

New Delhi, 30th November 2023 – Starting this week, Discord, a global voice, video and text communications service, is opening Shop to all of its users worldwide to help make their Discord profile look stylish with collections of Avatar Decorations and Profile Effects. Any Discord user will be able to make purchases from the Shop on the desktop or web apps, with support for purchasing items on mobile coming in the works. Nitro members will get special member pricing on Shop purchases and an exclusive set only available for Nitro members to use with an active membership.

What is in the Shop

The Shop is where users will find a wide array of items that help them level up their profile. Once users purchase something from the Shop, it is theirs to keep and use whenever they want, including any limited-time seasonal items.

Alt text: A user browsing the in-app Shop. They open up an Avatar Decoration called “Magical Potion” to preview it on their profile.

Discord offers fun items in the Shop that will resonate with its users ranging from anime emotes, magical effects, breakfast food, and more. The company will also be releasing its newest items – Winter Wonderland! Users can surround their avatar with snowy pinecones or cover their profile in a set of string lights to bring a bit of winter wonder. The Shop will continue to be updated with new items, including one more collection before the year ends, so users should regularly check it out and see what’s new.

In the Shop, being a Nitro member is like having a loyalty card as Nitro members can purchase items from the Shop at a discounted price, and they get a head start to their collection with an exclusive set of five DISXCORE-themed items to use while they are an active member.

How to Find the Shop

To explore what’s available for purchase in the Shop, users can find the dedicated “Shop” tab located right under the Nitro tab when they click on the Discord icon on the top-left of the app:

Alternatively, users can find the Shop at the same place they edit their Discord profile: directly within Profile Settings. On either desktop or web, just head into User Settings > Profiles. In this menu, users will see a banner that says “Go to Shop.”

Finally, the ability to gift items from the Shop is coming soon, so Discord users will be able to help their friends to match with the same decoration, look good inside a potion jar or even have their icon stuck in a piece of bread.

Currently, browsing and purchasing in the Shop is only available on the desktop or web apps. Users can apply any Avatar Decorations or Profile Effects on mobile, desktop, and web. For more information on how to use Avatar Decorations or Profile Effects on a Discord profile, visit this page: https://discord.com/blog/avatar-decorations-collect-and-keep-the-newest-styles#heading-3.

Great Place To Work’s report on IT & IT-BPM unveils industry resilience and vital trends shaping future workplaces

National, 30th November 2023 – Great Place To Work® India, a renowned workplace assessment and recognition organization, has unveiled a comprehensive report on India’s Best Workplaces™ in the IT & IT-BPM sector, with insights gathered from a staggering 1.8 million employees. The report showcases the remarkable resilience of the IT industry while highlighting pivotal shifts in employee perceptions and sentiments. Some of India’s best workplaces in IT and IT-BPM 2023 (alphabetic order) include _VOIS, Accenture Solutions Private Limited, Akamai Technologies India Private Limited, Atlassian India LLP, Blue Yonder India Private Limited, Cadence Design Systems (India) Private Limited, CGI Information Systems and Management, Consultants Private Limited, Cisco Systems India Private Limited, Encora Innovation Labs India Private Limited, H & R Block (India) Private Limited. A list of the top 100 workplaces can be accessed at < India’s Best Workplaces in IT & IT-BPM 2023>

Notably, the 2023 assessment reflects that the burnout risk remains a concern, affecting 27% of employees in large companies which is 3% higher compared to their mid-sized counterparts. Female senior managers in particular experience a 5% higher burnout rate than male counterparts. The trend draws on the importance of maintaining a delicate balance between growth and employee well-being.

However, it’s worth noting that large organizations demonstrated a 1% improvement in employee experience, while mid-size entities maintained a commendable 85% score, surpassing their larger counterparts.

Yeshasvini Ramaswamy, CEO, of Great Place To Work India, stated, “As we stand at the intersection of disruptive innovation and sustainable progress, I reflect on the profound and indispensable role played by the IT industry in driving the Indian economy forward. India’s IT industry contributes a staggering 7.5% towards the country’s gross domestic product (GDP). This statistic not only underscores the economic significance of this sector but also showcases the pivotal role each organization plays in shaping the trajectory of our nation. The emergence and robust contribution of cutting-edge technologies such as AI and deep tech in the Indian IT sector, as of 2023, further accentuate our industry’s status as a hub of talent and innovation with global delivery capabilities. It is the collective effort of these organizations that lays the groundwork for a future where technological prowess is synonymous with national progress and global ambitions.

Our report, India’s Best Workplaces in IT & IT-BPM, highlights the vibrancy and resilience of this industry. With over 1.8 million employee voices contributing to our study, trends that will shape our future of work continue to be myriad. This assessment through our proprietary methodology aims at studying the ways in which organizations completely channelize their people power and create inclusive workplaces through effective leadership, meaningful values, and nurturing a culture where all employees experience high levels of trust and bring their best selves to work.

This year we see that the industry has experienced subtle shifts in employee perceptions as compared to the last year. While the overall employee experience saw a dip, dimensions like Pride and Fairness emerged as the highest and lowest in employee sentiment, respectively. The reduction in Camaraderie (-1%) and a diminished sense of Pride (-1%) among employees has shaped the overall employee experience.

In addressing the current challenges, Workplace Ikigai emerges as a holistic solution that empowers individuals to align their personal passions, cultivate meaningful relationships, embody exceptional leadership, and create an enduring impact.

As we embrace flexibility through hybrid workplaces, fostering collaboration becomes more critical.

83% of Best Workplaces invest mindfully in their employees’ growth. Leadership excellence, despite being the lowest-scoring lever in Workplace Ikigai, shows an upward trend. This emphasizes the need for more accountability and authenticity at leadership levels.

As we continue to navigate the ever-evolving landscape of the IT industry, let us draw inspiration from the positive trends. A lot of work is yet to be done and as I say, achieving an optimal workforce DNA is not just a goal; it will always be a journey where employees have to be empowered with the skills and resources, they need for success within the construct of psychological safety measures. Congratulations to each and every one of you! Your commitment to nurturing environments that inspire innovation, foster trust, and promote the well-being of your employees has not gone unnoticed. In a world that constantly evolves, you have set a benchmark for what it truly means to be a Great Place To Work for us in India.”

Workplace Ikigai not only fosters employee well-being but also boosts productivity, retention rates, and innovation. Notably, in 2023, a sizable 77% of IT companies monitor employee well-being, with 55% employing multiple methods.

The report further highlights that the convergence of IT workplaces and personal fulfillment is key to achieving a remarkable 1.7X higher retention rate. It says that employees immersed in robust team dynamics are 3X more inclined to perceive their workplace as exceptional, fostering trust in colleagues and a welcoming onboarding experience. Furthermore, those exposed to stellar leadership experiences are also 3X more likely to consider their workplace excellent, benefiting from enhanced training prospects and crucial job resources.

As organizations navigate challenges, focusing on employee well-being, team spirit, and upskilling, will not only enhance workplace dynamics but will also drive substantial business returns. This further sheds light on the fact that IT companies have been investing an average of 1.97Cr annually in training and development, underscoring the significance placed on nurturing employee growth. Hence, with elements such as improved retention rates, heightened productivity, and increased innovation, opportunities will create resilient and thriving workplaces.

Ritviz, Diorange, Kayan and many more to feature at the OnePlus AI Music Festival

Bengaluru – 30th November 2023 – Last week, OnePlus the global technology brand announced the dates of the groundbreaking musical extravaganza, the OnePlus AI Music Festival. Today, OnePlus has announced an electrifying lineup of diverse artists to grace the stage. This gathering will showcase a blend of global talents, promising an unparalleled fusion of music styles and genres.

India’s biggest Independent Artist, Producer & DJ – Ritviz will join the star-studded list of artists. Few Indian artists have experienced the meteoric rise to fame that 27-year-old Ritviz Srivastava has, and even fewer have been able to sustain that popularity. Effortlessly blended elements of Indian traditional music, hip-hop, and electronica, he is currently the highest-streamed Indian indie artist on Spotify garnering 1 billion+ streams across audio and video platforms.

Also on the programming is Swedish, Producer and DJ – Diorange. Diorange’s distinctive sonic landscape celebrates different languages and genres, creating a sound that is truly global. With an impressive track record of over 200 million views across various content platforms, ​​his meteoric rise is exemplified by headlining performances at key events in India and Sweden and touring across India.

In the all-star roster is also Kayan – Ambika Nayak’s musical alter ego. A multifaceted artist – singer, producer-DJ, model, actor, and voiceover artist – Kayan effortlessly navigates musical terrains spanning soul, electronic, pop, and R&B. Renowned for her captivating performances, she’s graced prestigious stages worldwide, including NH7 Weekender, Zomaland, YouTube Fan Fest 2023, and the inaugural Lollapalooza India.

Adding to the festival’s diverse soundscape is Lost Stories, comprising Prayag Mehta and Rishab Joshi, dubbed the “Scene Starters” by DJ Mag. Their distinctive amalgamation of ethnic and folk music with electronica has captivated audiences globally. As the first Indians to perform four times at Tomorrowland Music Festival, including sets at Tiesto’s Musical Freedom stage and Dimitri Vegas & Like Mike’s Smash The House stage, Lost Stories continues to push boundaries in the electronic music landscape.

The lineup also features the dynamic duo Pro Bros, Sunny Sharma, and Karan Bhalla. Regarded as pioneers in India’s Electronic Music scene, their high-energy live performances have become a hallmark. Their repertoire includes chart-topping releases like ‘Take My Breath Away’ on Tiesto’s Musical Freedom/Spinnin Records and ‘F.U.T.S.’ on Chuckie’s label, Dirty Dutch Digital. Along with this, their song with Raghu Dixit, “Sajanaa” has garnered more than 5M+ views and streams. Pro Bros are popularly nick-named as ‘Mashup Masters’ which is only fair because they’ve released 100+ mashups that have been played by 1000+ DJs around the globe.

This curated lineup of artists represents a convergence of global talent, promising an unforgettable sonic journey for attendees at the OnePlus AI Music Festival. Stay tuned for more updates and surprises as the event approaches.

XTB Hires Head of Artificial Intelligence

UAE, Dubai 30th November 2023: XTB, a global fintech offering online investing platform and mobile app, announced today the appointment of Tomasz Gawron to lead the company’s Artificial Intelligence (AI) department. This newly created division within the Technology & Product department will be focused on the confident and responsible adoption of AI into business operations and XTB’s proprietary investment platforms.

The Head of AI will grow and lead the team responsible for shaping the company’s strategy towards incorporating disruptive, AI-powered technologies. Working closely with other company departments, this newly created division is tasked with monitoring and identifying the paths towards effective implementation of AI into current and future products and services as well as daily business operations.

“As a fintech enterprise with a focus on the Middle East market, we aim to lead the way in our industry amidst the transformative influence of AI and machine learning. Our pivotal role within XTB is instrumental in expediting the integration of cutting-edge, AI-driven solutions tailored to enhance our existing Machine Learning capabilities. We view this technology not only as an integral component for elevating performance, data analytics, client onboarding, and support but also as a catalyst for enhancing employee productivity. Embracing these advancements positions us uniquely to cater to the distinctive needs of our Middle East clientele.” added Achraf Drid Senior Executive Officer – Middle East & North Africa for XTB MENA Region.

As the effective deployment of state-of-the-art technologies requires a strong operational focus, XTB’s AI division will drive the process of prototype testing and validation, as well as oversee all AI-related projects to ensure their high quality and compliance with the company’s business goals. The team will also be responsible for the ongoing monitoring of the latest trends and developments within the AI area as well as internal knowledge sharing to ensure that all employees are well informed and trained on how AI can be used in their daily tasks not to run afoul of internal procedures and regulatory requirements.

“We will use AI to democratize access to data and personalize user experience. A more unified conversational interface to training materials, platform configuration options, and support along with access to current financial data analysis should make platform users more efficient in their day-to-day operations. We are moving towards a world where a custom, interactive report is generated from fresh data whenever you ask. Imagine your personal assistant helping you distill insights from information available on our investment platform” said Adam Dubiel, Chief Product & Technology Officer at XTB.

Tomasz Gawron is an experienced programmer, robotics expert, and co-author of several studies on mobile robotics. He has extensive teaching and training experience gained from supervising Robotics and Computer Science students at Poznan University of Technology. Most recently, he was AI research and engineering lead at Wunderman Thompson Technology where he built the AI research department and was responsible for overseeing the delivery of the company’s AI strategy and project coordination. Tomasz holds a PhD in Automation, Electronics, and Electrical Engineering from the Poznan University of Technology.

Sana Investment P Ltd Secures INR 10 Crores in Funding from Singapore-based Private Equity HNI

New Delhi, 30th November 2023— Sana Investment P Ltd announces a significant milestone in its journey, securing a substantial INR 10 Crores (S$1.65 Mns) in funding from a prominent Private Equity High Net Worth Individual (HNI) based in Singapore.

In a strategic move to bolster the company’s profitability plans, Managing Director CA Suushant Arora expressed gratitude for the infusion of capital, stating, “This funding reflects the trust and confidence our investors place in Sana Investment’s vision. With this support, we are well-positioned to execute our profitability plans and continue contributing to the success stories of the businesses we invest in.”

While the equity stake acquired by the investor has been confirmed, the exact valuation of the company remains undisclosed.

Established earlier this year, Sana Investment P Ltd specializes in investing in a diverse range of businesses, spanning from growth-stage companies to startups. The company also extends mentorship to early-stage ventures, aiding in their expansion plans. Notably, the company will be strategically focusing on fostering seed-stage investments, underscoring its commitment to supporting nascent ventures.

This funding injection marks a pivotal moment for Sana Investment P Ltd as it continues to carve a niche in the dynamic landscape of investment and entrepreneurship.