All posts by Sujata Muguda

JSW Cement signs First Sustainability Linked Loan of Rs 400 crores with MUFG Bank

Pune, October 3, 2022 – JSW Cement, India’s leading Green Cement company, has signed its First Sustainability Linked Loan of Rs 400 crore (US$ 50 million) with MUFG Bank India. It plans to deploy these funds as capital expenditure to achieve its capacity target of 25 MTPA with an increasing focus on sustainability. The cement sector has been highly carbon intensive. JSW Cement recognizes the role green capital can play in transitioning business operations to a low carbon footprint. MUFG Bank acted as the Mandated Lead Arranger and Bookrunner (MLAB) and the Sustainability Loan Coordinator for this transaction. DNV Business Assurance India (“DNV”) acted as the Second Party Opinion (“SPO”) provider. This transaction marks several milestones, including the first Sustainability Linked Loan for JSW Cement. It is also MUFG’s first transaction undertaken out of its new branch at Gujarat International Finance Tec-City (GIFT City), which was launched in August 2022 as part of an enhanced service footprint to respond to the bank’s corporate clients.

JSW Cement is pursuing the goal of creating a sustainable future for India through its Green cement portfolio. MUFG Bank is committed to empowering companies pursuing such sustainable goals in its operations. This landmark financing further reaffirms JSW Cement’s status as a pioneer in making sustainable cement available to every Indian consumer and MUFG Bank supports this ambition.

According to Mr. Parth Jindal, Managing Director of JSW Cement, “The Sustainability Linked Loan raised from MUFG Bank reiterates our purpose of pursuing sustainable business growth while ensuring a sustainable future for the next generations. The new capital will enable us to meet our goal of achieving 25 MTPA capacity in the near term.”

Mr. Shashank Joshi, Deputy CEO of MUFG India said, “Through this transaction, JSW Cement has not only reaffirmed its sustainability vision but served as a leading flag-bearer for the industry’s net zero transition. With our market-leading ESG financing capabilities, MUFG has long played a defining role in the sustainability journey of India’s corporate sector. We congratulate JSW Cement on its first Sustainability Linked Loan and are pleased to be able to support JSW Cement in its ongoing mission to provide sustainable products through this landmark transaction”.

JSW Cement has developed a Sustainability-Linked Loan Framework to link its capital-raising with long-term ESG objectives. This will enable JSW Cement to meet its ambitious timelines for achieving an improved sustainability performance. The Sustainability-Linked Loan Framework is also aligned with the Sustainability-linked Loan Principles (“SLLP”) administered by the Loan Market Association, Asia Pacific Loan Market Association, and Loan Syndications & Trading Association in March 2022. As the Sustainability Loan Coordinator, MUFG Bank worked with JSW Cement to publish its Sustainability-Linked Loan Framework, underpinning the current deal and any other similar transactions that JSW may choose to undertake in the future.

JSW Cement has chosen to measure performance against the Sustainability Performance Target (SPT) through one key KPI of Net CO2 emissions intensity, calculated as Kg CO2 per tons of cementitious material produced (Kg CO2/TCM) covering its entire manufacturing operations comprising integrated Cement plants and grinding units.

How Casual Gaming converted into a serious NFT Gaming Business in India

By Ramkumar Subramaniam, CEO and Co-Founder of Guardianlink

People would never have thought about gaming as something even remotely serious. However, for people who were completely immersed in gaming and the thrilling adventure it offers (although virtual), it was something that they considered emotionally close. They did not mind spending their time, money, and effort to enhance the game characters, better their gameplay, and reach the ultimate glory that the game would offer them.

However, those were only a small segment of people. Even within that small set, an even smaller set was only capable of making gaming their livelihood. Gaming was so casual at some point in time that “casual gaming“was considered a needless expression.

Today, however, NFTs and blockchain have changed the perception of gaming… And for good reasons. Let us admit it! Today, the seriousness of a profession lies in the dependability of livelihood from that profession. It is perhaps one of the reasons why a lot of professions that were not considered so serious about a decade and a half ago are now considered quite serious… Like being a YouTuber or a blogger.

What is the factor that made these “activities“ into professions? It is because of the accessibility and openness of the platforms. To make it crisp, making money from these activities had become so democratic… Thanks to the online platforms and the growth of technology.

Similarly, gaming is also going through its adolescence. NFTs have made gaming assets more worthy because of their longevity and tradability in marketplaces. P2E has opened opportunities for people to not only play games but also earn by spending time, money, and talents.

To encapsulate it all, your gaming skill is now a skill you can monetize… Just like how content creation transformed itself over the past decade.

This is quite new for the world of gaming and the world of earning and careers. We have seen people belonging to countries like the Philippines, Vietnam, Thailand, and Cambodia make a living just by playing P2E games. However, those games were a little too odd for a majority of the Indian population to play.

With games like cricket stepping into the NFT space and becoming P2E games, it becomes easier and more welcoming for an average Indian to invest in NFTs and make a living out of them. In most games, gaming assets are presented as NFTs, which means that they can be traded on marketplaces. Therefore, irrespective of the NFT investor playing the game, they can still make a profit by trading those NFTs on the marketplace.

There are innovative options like NFT renting that will soon be brought into a lot of games. This erases the line of demarcation between an NFT user and an NFT owner, further opening the doors of access for gaming enthusiasts to get into serious… Or rather rewarding gaming.

This transformation was much needed and it is only natural that a completely decentralized and distributed ledger like the blockchain is the epicenter of this transformation. When such games become completely decentralized autonomous organizations, the community takes care to keep the game aloft without depending on any centralized organization. When there is no centralized controlling body to pull the plug on the game, the game will continue to thrive… And so will the number of people who can make a living out of playing such games.

Exim Bank Extends Line Of Credit Of Usd 100 Million To The Government Of The Republic Of Maldives

Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit [LOC] of USD 100 million to the Government of the Republic of the Maldives for the purpose of financing developmental projects. The LOC Agreement to this effect was signed in Male’, Maldives on Sunday, October 02, 2022, by H.E. Ibrahim Ameer, Minister of Finance, Government of Republic of the Maldives, and Mr. Nirmit Ved, General Manager, Exim Bank. The LOC Agreement was exchanged at a ceremony organized by the Ministry of Foreign Affairs, Government of the Republic of Maldives, in presence of Shri Vinay Mohan Kwatra, Foreign Secretary of India, and Shri Ahmed Latheef, Foreign Secretary of the Republic of Maldives.

With the signing of the above LOC Agreement, Exim Bank, to date, has extended 6 (Six) Lines of Credit to the Government of the Republic of Maldives, on behalf of the Government of India, taking the total value of LOCs to USD 1.43 billion. Projects covered under the LOCs extended to the Government of the Republic of Maldives include Greater Male Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project, and Sports Infrastructure.

With the signing of this LOC Agreement, Exim Bank has now in place 311 Lines of Credit, covering 67 countries in Africa, Asia, Latin America Oceania, and the CIS, with credit commitments of around USD 32.31 billion, available for financing exports from India. Besides promoting India’s exports, Exim Bank’s LOCs enable the demonstration of Indian expertise and project execution capabilities in emerging markets.

The world’s first Royalty-included music platform is music to the ears of composers and content creators.

Mumbai(S.N)-SyncMama is the world’s first-ever royalty-included music licensing platform for UGC creators with over 400,000 soundtracks, special effects, and AI text-to-voice in 17 languages, including Hindi and Indian English. The platform has the tools to make a great soundtrack: music, SFX and Voiceover.

Music is the hidden driver of the digital revolution. Be it social media content, podcasts, gaming apps, OTT platforms, edutech tutorials, or a simple Powerpoint presentation, excellent background music amplifies their impact. With Sync Mama, even the smallest or most remote content creators can use the music of composers who work with the world’s most successful films and TV shows.

The music is composed by professional, award-winning composers who work with the most significant film directors, Hollywood blockbusters, Netflix, and Disney or perform with such diverse artists as the New York Philarmonic, Pink Floyd, Mark Knopfler, Ozzy Osbourne, Moby, etc. Subscribers can generate personalized licenses, valid worldwide and perpetually. Unlike ‘royalty-free’ platforms, SyncMama pays royalties to the composers and ensures a fair and transparent income distribution across the music industry’s value chain.

Achille Forler, the company’s founder, says, “SyncMama launched in South Asia because India has the ideal legal framework — ‘royalty-free’ is illegal since 2012 —but the platform is designed to become global. We have attracted the biggest names in the business because we have built a new, sustainable model that is a win-win for the composers and content creators who use their music.”

Unlike companies offering royalty-free music based on buy-outs, where a composer transfers ownership of his work forever to the platform without further compensation, SyncMama is compliant with all the international standards and guidelines that govern the global copyright system. Says Forler: “Until now, the market was split between those who serve the large traditional users ad agencies, broadcasters, etc. ­— and the ‘royalty-free’ who serve the micro-users — individuals and small professionals who create their content. Composing music is a profession, and it falls to reason that you cannot attract great talent by denying them their royalty right. SyncMama is the first service to address these two markets simultaneously through a subscription model for individuals and small companies and the traditional blanket licensing model for large content creators.”

Goldman Sachs has just upped its predictions for the music industry from $81.6bn to $87.6bn; for 2023 from $90.7bn to $94.9bn; and for 2030 from $139.7bn to $153bn. Content creators must engage their audience with better music tracks and background scores to cut through the clutter.

SyncMama is the brainchild of Achille Forler, a pioneer music publisher and relentless advocate for the right to royalties of creators in India. His first company, Deep Emotions Publishing, was co-funded by Bertelsmann and later sold to Universal Music Publishing. Holder of a Master’s and a Ph. D. in Sanskrit and Indian Culture, he founded the Alliance Française in Ahmedabad. He was in charge of the cinema, broadcasting, and music industries for the French Ministry of Foreign Affairs.

SyncMama features music from almost 6,000 professional musicians. The company is constantly expanding its repertoire to meet the needs of a broad spectrum of content creators while maintaining the most competitive pricing. SyncMama’s audio search engine, copyright management tools, and royalty distribution are powered by artificial intelligence and automation.

Bank of India & its Offices Participated in “Cleanliness Special Campaign 2.0”

Bank of India and its establishments actively participated in “Cleanliness Special Campaign 2.0” which commenced today from its Corporate Office, Mumbai. This Special Campaign 2.0 started on 2nd Oct and will continue till 31st Oct wherein all its Zonal Offices, Branches, and National Banking Groups across the country will actively participate in Special Campaign 2.0 to clean the surroundings.

The Government of India initiated ‘Cleanliness Special Campaign 2.0’ under its ‘Swachh Bharat” mission to encourage all to actively participate in the nationwide hygiene and sanitation program.

During the ‘Cleanliness Special Campaign 2.0’, the Bank of India is organizing a series of events and programs within its offices and branches, and in their vicinity. The Bank will put up banners and posters at prominent locations drawing the attention of customers and the public at large to spread awareness of the need for cleanliness. Bank of India will simultaneously undertake cleanliness drives at public places, such as parks and beaches, with the active participation of its staff members.

The Managing Director and CEO of BOI, Shri A. K. Das inaugurated the launch of Cleanliness Special Campaign 2.0 across its Branches & establishments. Shri Das said, “it is our collective responsibility to keep our surroundings clean and hygienic and it should become a way of life, not just in our homes but also in public places. Cleanliness Special Campaign 2.0, an initiative by Govt. of India will make people conscious & aware of the importance of living in a clean environment that will enable all of us, and especially future generations, to live a healthy and stress-free life.”

IOSCO Secretary General, FPSB CEO Discuss the Impact of Financial Planning on Investor Resilience This World Financial Planning Day

DENVER, COLO – 3 October 2022 – Financial Planning Standards Board Ltd. (FPSB) and its global network of financial planning professional bodies host the sixth annual World Financial Planning Day (WFPD) on Wednesday, 5 October, in partnership with the International Organization of Securities Commissions (IOSCO) World Investor Week (WIW) from 3-9 October, to promote global consumer financial literacy and resilience.

In a Fireside Chat to be broadcasted on FPSB social media channels on World Financial Planning Day, FPSB CEO Noel Maye and IOSCO Secretary General Martin Moloney discuss IOSCO’s goals for World Investor Week, the challenges facing members of the public as they seek to manage finances and plan for the future, and the impact that financial planning and a global community of CFP professionals can have on consumer wellbeing and resilience. “Financial planning plays a critical role in helping a client build financial resilience and be able to deal with the problems that come around the corner for all of us,” said IOSCO Secretary General Martin Moloney.

FPSB’s World Financial Planning Day raises awareness among the public about the value of financial planning, of having a financial plan, and working with a financial planner who has committed to competency and ethical standards, like a CERTIFIED FINANCIAL PLANNER professional.

“Given the impacts of an increasingly digitalized world, cryptocurrencies, influencers, geopolitical conflicts, inflationary trends, and lingering uncertainty around COVID, it’s more important than ever that FPSB and the global CFP professional community promote the value of financial planning and having a plan,” said FPSB CEO Noel Maye. “This World Financial Planning Day, we want the public to know how financial planning can help them feel more confident and in control of their finances, keep them on track with goals, and live their today while planning their tomorrow.”

FPSB and its network of financial planning professional bodies, representing more than 203,000 CFP professionals worldwide, will host a series of programs and events to raise awareness of the value of financial planning in celebration of World Financial Planning Day. Activities include:

• Australia: FPA Australia will host Financial Planning Week from 3-9 October, with the release of a custom measurement index and research that reflects the value of financial advice.
• Brazil: Planejar – Associação Brasileira de Planejamento Financeiro will host virtual consumer events on financial planning and investment topics from 3-7 October.
• China: FPSB China will host in-person and virtual events to raise awareness of financial planning.
• Chinese Taipei: The World Investor Week Forum hosted by the Financial Planning Association of Taiwan from 4-6 October will provide an in-depth analysis of market trends to help the public gain financial knowledge related to global inflation.
• Germany: FPSB Deutschland will conduct virtual consumer events from 3-7 October to raise awareness about the value of financial planning.
• Hong Kong: The Institute of Financial Planners Hong Kong will host a virtual event on best practices of wealth transfer planning on 5 October.
• India: FPSB India will participate in the National Stock Exchange of India bell-ringing ceremony on 4 October to kick off World Financial Planning Day, host TV and virtual discussions with CFP professionals on the evolution and value of financial planning, a live YouTube session with a CFP practitioner on personal finance, and in-person sessions with students and employees on the importance of financial planning in the first week of October.
• Indonesia: Virtual consumer events on a variety of financial planning topics will be hosted by FPSB Indonesia and FPAI from 5-9 October.
• Japan: Japan Association for Financial Planners is raising awareness of financial planning with an extensive media and social media campaign.
• Malaysia: Pro bono financial planning sessions from CFP professionals and in-person and virtual financial education events are being facilitated throughout September and October by the
• Financial Planning Association of Malaysia in partnership with SmartFinance and #FinPlan4U.
• Republic of Korea: FPSB Korea launched a video contest to address the question, “What are you doing to better your future?” and will grant awards to winners on 5 October.
• Singapore: Financial Planning Association of Singapore will host in-person and virtual consumer events on a variety of financial planning topics and publish articles, blogs, and brochures to
• raise awareness about the value of financial planning.
• South Africa: FPI of Southern Africa will celebrate Financial Planning Week in partnership with ASISA Foundation from 3-7 October as part of World Financial Planning Day, which will
• include Facebook live sessions and podcasts on a range of financial planning topics, workshops, and pro bono financial planning consultations.
• Thailand: Consumer-facing articles from the Thai Financial Planners Association that cover a range of financial planning topics will be featured and supported by a media outreach and social media campaign.
• The Netherlands: Federatie Financieel Planners will host Plan Your Future. Live Today (“Plan je toekomst; Leef Vandaag”) from 3-7 October and publish financial planning articles for consumers and professionals.
• United Kingdom: Chartered Institute for Securities and Investment hosts its Financial Planning Week from 3-9 October to advance financial literacy and money management skills across the UK, which includes a #10DaysOfFinancialPlanning social media campaign.
• United States: CFP Board will host its 5th Annual Diversity Summit to advance diversity in the financial planning profession on 27 October.
  For more information about World, Financial Planning Day visit WorldFPDay.org and follow the #WFPD2022 conversations on FPSB social media channels. To view the on-demand FPSB and IOSCO Fireside Chat, please tune into FPSB’s social media channels LinkedIn, Facebook, and Twitter during World Financial Planning Day on 5 October.

Journalists: For a preview of the Fireside Chat, go here. Fireside Chat recording is under EMBARGO until 23:00h UTC on Tuesday, 4 October 2022.

IOSCO Secretary General, FPSB CEO Discuss the Impact of Financial Planning on Investor Resilience This World Financial Planning Day

DENVER, COLO – 3 October 2022 – Financial Planning Standards Board Ltd. (FPSB) and its global network of financial planning professional bodies host the sixth annual World Financial Planning Day (WFPD) on Wednesday, 5 October, in partnership with the International Organization of Securities Commissions (IOSCO) World Investor Week (WIW) from 3-9 October, to promote global consumer financial literacy and resilience.

In a Fireside Chat to be broadcasted on FPSB social media channels on World Financial Planning Day, FPSB CEO Noel Maye and IOSCO Secretary General Martin Moloney discuss IOSCO’s goals for World Investor Week, the challenges facing members of the public as they seek to manage finances and plan for the future, and the impact that financial planning and a global community of CFP professionals can have on consumer wellbeing and resilience. “Financial planning plays a critical role in helping a client build financial resilience and be able to deal with the problems that come around the corner for all of us,” said IOSCO Secretary General Martin Moloney.

FPSB’s World Financial Planning Day raises awareness among the public about the value of financial planning, of having a financial plan, and working with a financial planner who has committed to competency and ethical standards, like a CERTIFIED FINANCIAL PLANNER professional.

“Given the impacts of an increasingly digitalized world, cryptocurrencies, influencers, geopolitical conflicts, inflationary trends, and lingering uncertainty around COVID, it’s more important than ever that FPSB and the global CFP professional community promote the value of financial planning and having a plan,” said FPSB CEO Noel Maye. “This World Financial Planning Day, we want the public to know how financial planning can help them feel more confident and in control of their finances, keep them on track with goals, and live their today while planning their tomorrow.”

FPSB and its network of financial planning professional bodies, representing more than 203,000 CFP professionals worldwide, will host a series of programs and events to raise awareness of the value of financial planning in celebration of World Financial Planning Day. Activities include:

• Australia: FPA Australia will host Financial Planning Week from 3-9 October, with the release of a custom measurement index and research that reflects the value of financial advice.
• Brazil: Planejar – Associação Brasileira de Planejamento Financeiro will host virtual consumer events on financial planning and investment topics from 3-7 October.
• China: FPSB China will host in-person and virtual events to raise awareness of financial planning.
• Chinese Taipei: The World Investor Week Forum hosted by the Financial Planning Association of Taiwan from 4-6 October will provide an in-depth analysis of market trends to help the public gain financial knowledge related to global inflation.
• Germany: FPSB Deutschland will conduct virtual consumer events from 3-7 October to raise awareness about the value of financial planning.
• Hong Kong: The Institute of Financial Planners Hong Kong will host a virtual event on best practices of wealth transfer planning on 5 October.
• India: FPSB India will participate in the National Stock Exchange of India bell-ringing ceremony on 4 October to kick off World Financial Planning Day, host TV and virtual discussions with CFP professionals on the evolution and value of financial planning, a live YouTube session with a CFP practitioner on personal finance, and in-person sessions with students and employees on the importance of financial planning in the first week of October.
• Indonesia: Virtual consumer events on a variety of financial planning topics will be hosted by FPSB Indonesia and FPAI from 5-9 October.
• Japan: Japan Association for Financial Planners is raising awareness of financial planning with an extensive media and social media campaign.
• Malaysia: Pro bono financial planning sessions from CFP professionals and in-person and virtual financial education events are being facilitated throughout September and October by the
• Financial Planning Association of Malaysia in partnership with SmartFinance and #FinPlan4U.
• Republic of Korea: FPSB Korea launched a video contest to address the question, “What are you doing to better your future?” and will grant awards to winners on 5 October.
• Singapore: Financial Planning Association of Singapore will host in-person and virtual consumer events on a variety of financial planning topics and publish articles, blogs, and brochures to
• raise awareness about the value of financial planning.
• South Africa: FPI of Southern Africa will celebrate Financial Planning Week in partnership with ASISA Foundation from 3-7 October as part of World Financial Planning Day, which will
• include Facebook live sessions and podcasts on a range of financial planning topics, workshops, and pro bono financial planning consultations.
• Thailand: Consumer-facing articles from the Thai Financial Planners Association that cover a range of financial planning topics will be featured and supported by a media outreach and social media campaign.
• The Netherlands: Federatie Financieel Planners will host Plan Your Future. Live Today (“Plan je toekomst; Leef Vandaag”) from 3-7 October and publish financial planning articles for consumers and professionals.
• United Kingdom: Chartered Institute for Securities and Investment hosts its Financial Planning Week from 3-9 October to advance financial literacy and money management skills across the UK, which includes a #10DaysOfFinancialPlanning social media campaign.
• United States: CFP Board will host its 5th Annual Diversity Summit to advance diversity in the financial planning profession on 27 October.
  For more information about World, Financial Planning Day visit WorldFPDay.org and follow the #WFPD2022 conversations on FPSB social media channels. To view the on-demand FPSB and IOSCO Fireside Chat, please tune into FPSB’s social media channels LinkedIn, Facebook, and Twitter during World Financial Planning Day on 5 October.

Journalists: For a preview of the Fireside Chat, go here. Fireside Chat recording is under EMBARGO until 23:00h UTC on Tuesday, 4 October 2022.

Yokohama India-backed endurance expedition sets new record for the fastest North to South expedition on four wheels

New Delhi 3 October 2022: Endurance traveling enthusiast, Paras Bhimta, backed by Yokohama India, has successfully accomplished the fastest North to South expedition on four wheels in the solo category. The demanding expedition was a testament to the tenacity and zeal shown by Bhimta even after inclement weather conditions challenged him.

The endurance expedition, which was to begin on September 20th, 2022, finally got underway on the 23rd of September due to unruly weather. The weather could not dampen the gutsy spirits of Paras Bhimta and his vehicle, which was underpinned by four long-lasting Yokohama Geolandar AT G015. The expedition concluded in a record-breaking time frame of 55 hours and 38 minutes, beating the previous record of 56 hours and 20 minutes.

“Our plans to start on the 20th failed since the weather was troublesome. What kept me going and propelled me to give it another try on the 23rd was my trust in the ever-reliable Geolandars attached to my vehicle. There was no terrain in the length and breadth of India that could challenge the durability of these tires. The four Geolanders were built to last, and they just did that for the whole journey of 4000 km. It was the sheer consistency in contrasting conditions, like in the freezing temperatures of Leh to the wet road conditions midway and even on hot tarmac. I experienced ultimate grip throughout the journey.” said Paras Bhima

The Geolandar AT G015 by Yokohama is a high-dimension all-terrain tire that has unmatched durability and longer tread life. It has been specifically designed for excellent wet grip and off-road traction. The features of this tire made it an appropriate choice that encouraged a stress-free attempt for such a record-breaking expedition.

On the success of this arduous endeavor, Harshwardhan Honmode, Director of Yokohama India, said, “The resilient spirit of Paras Bhimta personifies Yokohama India’s brand philosophy, which is celebrating the motoring lifestyle. We cannot be more proud of the remarkable feat he has been able to accomplish. On the toughest terrains and contrasting road conditions of India both Paras and our Geolandar Tyres proved that when the going gets tough, the tough get going. We look forward to more challenges of attrition to showcase our durability.”