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IIT-Bombay To Develop Comprehensive Sustainability Policy

IIT-Bombay is formulating a comprehensive sustainability policy aimed at monitoring and reducing the campus’s carbon footprint. The policy will outline measures for individual departments to contribute to sustainability efforts.

Newly appointed director Shireesh Kedare, formerly of the department of energy sciences, revealed the institute’s plans during a media interaction on Friday. Kedare assumed the directorship on May 6, succeeding Prof. Subhasis Chaudhuri.

The institute will incorporate extensive data collected for various rankings into the development of the policy. Additionally, a dean for sustainability has been appointed to oversee these initiatives.

In a related move, IIT-Bombay recently established the Green Energy and Sustainable Hub with funding from a US-based alumnus. The hub will coordinate and support research in green energy, climate change, and sustainability across the institute’s departments and industry collaborations.

Top Marketing Minds Convene at ObserveNow Presents 2nd edition of Marketeer Think Tank

ObserveNow Media recently hosted the second edition of its Marketeer Thinktank – Brew & Brainstorm: B2B Marketeer Roundtable Session on 10th May in Crown Plaza, Gurugram. Esteemed marketing leaders from Delhi NCR convened to discuss the future trajectory of the B2B event industry, emphasizing the significance of sustainability within these events, hybrid and physical events and the increasing role of Gen AI in Event Marketing and other relevant topics.

Participants included Nupur Sharma from Crowdstrike, Kishor Achhra from BMC, Shalini Agrawal from SAP, Vinny Sharma from Securonix, Lavika Gupta from Microsoft, Radhika Katyal from Mercer, Nikhil Thapar from Unipore, Sanjay Choudhary from Lentra, Anju Williams from STTelemedia, Namrata Nath from Exotel, Alekhya Chakrabarty from Unstop, Manisha Vasdev from Coursera, Priti Luthra from GoTo, Imrana Khan from LinkedIn, Vandana Hirani from Western Digital, and Shreya Bhatnagar from Broadcom.

The session, expertly moderated by Taniya Tikoo, Editor-in-Chief & Co-founder of ObserveNow Media, fostered a dynamic exchange of insights. She started with a context-setting presentation and introduced the vision of ObserveNow to all the attendees.

Ms. Taniya expressed gratitude for the wonderful lineup of esteemed marketeers and commented on the agenda of the session, “The Agenda is Marketeer Think Tank is to discuss the future of B2B events. Being a B2B media marketing events company, we want to take events a notch higher and transform the way people look at events. In alignment with the same vision, in the last 5 years, ObserveNow has worked with 300+ clients and with completion of 5th year, ObserveNow has also gone global, with its presence in UAE.”

Highlighting the B2B events Vinny Sharma, Marketing Director – Asia Pacific & Japan, Securonix expressed her thoughts and said, “Events are essential for everyone, and physical events remain irreplaceable. In-person interactions foster stronger connections, making it easier to build meaningful relationships.”

Additionally, the conversation began with an examination of the percentage of budget that marketers allocate to event marketing and their perspectives on the returns on investment generated from such spending. However, the session’s in-depth analysis covered various topics, including the future of personalization, the irreplaceable role of marketers despite AI advancements, strategies for agencies to differentiate themselves from competitors, the gap between promises and deliverables, preferred event formats, ABM strategies, and the importance of creativity. These engaging topics painted a comprehensive picture of the future of events.

Talking of the same, Nupur Sharma, Director – Marketing, Crowdstrike said, “Event marketing requires ongoing efforts and continuous creativity. Currently, experiential events are dominating the industry. It’s crucial to ensure that the occasion is valuable for attendees, whether through engaging content, networking opportunities, unique experiences, or simply the prestige of being part of an exclusive guest list.”

While commenting on the sustainability aspect of B2B marketing, Lavika Gupta, Senior Marketing Communication Manager, Microsoft said, “B2B event marketing is here to stay. Regardless of whether it’s B2B or B2C, the focus has shifted from tactical to thematic campaign-led approaches. Events remain a key strategy and we should always blend both digital and physical elements.”

There has been a lot of perspective on personalisation, AI as a job eater, addressing the same Nikhil Thapar, Director & Head of Field Marketing, Uniphore said, “In the future, there will be a significant emphasis on personalization, enabling marketers to develop more effective strategies. While AI is already making a positive impact in the industry, it is not expected to replace marketers’ jobs anytime soon. Instead, it will serve as a powerful tool to enhance their efforts.”

“We aim to infuse each of our events with industry-specific nuances, recognizing the unique characteristics and challenges of various sectors. This tailored approach not only enhances our ability to connect with specific industries but also enriches the overall experience for participants, fostering deeper engagement and meaningful connections within each sector” said Shalini Agarwal, Marketing Director, SAP shedding a spotlight on the evolving element of B2B events.

While commenting on the ROI of events, Manisha Vasdev, Director Enterprise Marketing, Coursera said, “We should never look at the ROI of a single event. So, it is an integral effort as we have content generated from each event that can be leveraged for lead generation in future campaigns.”

Following the roundtable discussion, attendees enjoyed cocktails and dinner, further engaging in networking opportunities. The collaborative exchange of ideas and perspectives during the session set the stage for innovative approaches that will shape the future trajectory of B2B events, ensuring they remain a cornerstone of effective marketing strategies.

Amazon Bedrock Now Available in AWS Asia Pacific (Mumbai) Region

Amazon Web Services (AWS), a subsidiary of Amazon.com, announced the general availability of Amazon Bedrock in the AWS Asia Pacific (Mumbai) Region. Amazon Bedrock provides customers with the fastest, easiest, and most secure way to develop and scale generative artificial intelligence (AI) applications.

Initially made available worldwide through select regions in 2023, Amazon Bedrock’s expansion to the Mumbai region enables Indian customers, including public sector organizations and companies in regulated industries, to leverage generative AI. This local deployment supports low latency needs, crucial for real-time AI applications like interactive user experiences and on-the-fly content generation.

Shalini Kapoor, Chief Technologist–APJ Public Sector and Director–AWS India and South Asia, highlighted AWS’s commitment to facilitating customers’ AI journeys from experimentation to production securely and efficiently. She emphasized the importance of providing performant and cost-effective infrastructure for generative AI development in India.

Organizations across India are utilizing generative AI to boost productivity, enhance user experiences, and innovate workflows. Amazon Bedrock offers a fully managed service with a variety of top-tier models and customization capabilities, ensuring enterprise-grade security and privacy. The service includes models like Amazon Titan, Cohere, Anthropic, Meta, and Mistral.

AWS continues to support customers with the necessary tools, resources, and training for responsible and secure AI innovation, further driving advancements in generative AI across various sectors in India.

Aman Gupta appointed as CHRO for Tata Communications

In a recent announcement, Tata Communications revealed that Aman Gupta has been appointed as the new Chief Human Resources Officer (CHRO), succeeding Aadesh Goyal, who will retire from the role on June 30.

Goyal has had a distinguished 14-year career with Tata Communications, holding various significant positions including member of the Global Management Committee, Chief Human Resources Officer, and leader in areas such as Ethics and Culture, Sustainability, Health and Safety, Corporate Social Responsibility, Tata Communications Payment Solutions, Supply Chain Management, Business Continuity, and Corporate Services.

Aman Gupta, who is currently the Vice President and Global Head of Compensation & Benefits and Business HR at Tata Communications, will step into the role of CHRO. Gupta joined the company in 2013 and has previously worked with EXL Service, KPMG Advisory, PricewaterhouseCoopers, and Deloitte Consulting.

Red.Health Secures $20 Million in Series B Funding

Ambulance service provider Red.Health, formerly known as StanPlus, has raised $20 million in a Series B funding round. This latest investment, a combination of equity and debt, was led by Jungle Ventures, with additional participation from Alteria Capital and existing investors HealthQuad and HealthX.

The Hyderabad-based startup previously secured $20 million in its Series A round in January 2022, led by HealthQuad, Kalaari Capital, and HealthX. However, Kalaari Capital’s involvement in the Series B round has not been confirmed. Since its inception in 2016, Red.Health has amassed a total of $43 million across various funding rounds.

Red.Health plans to utilize the new funds to enhance its product offerings, advance its technology, and improve its dispatch system. The company currently collaborates with over 100 hospitals in 20 cities and aims to expand its services to 40-50 cities, partnering with over 500 hospitals.

Under the leadership of Prabhdeep Singh, Red.Health supports large hospitals, health apps, and wearable operators by providing emergency medical response services. In January of last year, the company rebranded and shifted its focus to four main areas: RED Ambulances, RED Assist, RED Priority Clinics, and RED Academy. Shortly after the rebranding, Red.Health launched air ambulance services in over 500 cities.

Despite these advancements, Red.Health has faced scaling challenges, as reported by The Morning Context and Mint, which also noted recent difficulties in paying employee salaries. The company reported a revenue of Rs 100 crore in FY24 and aims to double this figure in FY25. Red.Health’s Indian entity saw a 45% revenue increase to Rs 67 crore in FY23, up from Rs 46.13 crore in FY22, though losses also surged more than 20-fold to Rs 31.74 crore during this period.

In a competitive landscape, Red.Health faces rivals such as Dial4242, which announced its seed funding round in September 2023, as well as MeduLance, HelpNow, ESahai, AmbiPalm, and Mo Ambulance.

Go Digit Secures Rs 1,176 Crore from Anchor Investors Ahead of IP

Go Digit General Insurance has successfully raised Rs 1,176 crore ($141 million) by allocating shares to anchor investors as part of its initial public offering (IPO). The company’s board approved the offering of 4,32,57,009 equity shares at an issue price of Rs 272 each, according to a regulatory filing with the Bombay Stock Exchange.

Prominent investors such as SBI, ICICI Prudential, Axis Mutual Fund, Mirae Asset, Tata Flexi, Motilal Oswal, PGIM India, and Edelweiss participated in this allocation. Specifically, 1,44,96,570 equity shares were distributed to 11 domestic mutual funds through 23 schemes.

Go Digit’s IPO, which commenced today and will run until May 17, 2024, features a price band of Rs 258-272 per share, with a minimum bid requirement of 55 shares. The company aims to raise funds through a fresh issue of equity shares worth Rs 1,125 crore and an offer for sale of up to 5,47,66,392 equity shares.

The Gurugram-based insurer had previously revised its IPO size following a refiling of its draft papers last year. The firm recently faced a fine from the Insurance Regulatory and Development Authority of India (IRDAI) for delays in filing particulars of a joint venture agreement.

Go Digit Infoworks Services holds the largest stake in the company at 80.57%, followed by TVS Shriram Growth at 3.43%. Other significant shareholders include A91 Engineering (3.23%), Faering Capital (2.06%), and Peak XV (1.00%).

For the nine months ending December 2023, Go Digit reported a net revenue of Rs 5,631 crore and a profit of Rs 129 crore. The previous fiscal year saw a revenue of Rs 5,909 crore and a profit of Rs 35.5 crore.

DSP Mutual Fund Introduces New Nifty Bank Index Fund

Mumbai: DSP Mutual Fund has announced the launch of the DSP Nifty Bank Index Fund, an open-ended scheme that tracks the Nifty Bank Index. This fund provides investors with an opportunity to gain exposure to 12 of the most liquid and large Indian banking stocks through a single investment. The Nifty Bank Index includes a mix of both private and public sector banks, offering a diversified banking sector investment.

Historically, the Nifty Bank Index has outperformed the broader Nifty 50 Index over the long term. Since January 2000, the Nifty Bank Index has grown 67 times, compared to the Nifty 50’s 21-fold increase. However, the Nifty Bank Index is currently experiencing its longest period of underperformance relative to the Nifty 50 on a 5-year rolling basis. This underperformance has resulted in more attractive sector valuations, both compared to historical averages and other sectors.

Key financial metrics for banks, such as return ratios and capital adequacy, have been steadily improving. The Return on Assets (RoAs) for Indian banks has more than tripled since the lows of 2018, and non-performing assets (NPAs) are at their lowest levels in years. The banking sector is currently trading at just a 5% premium to its 10-year average price-to-book multiple, presenting an appealing entry point for investors anticipating a sector resurgence.

The New Fund Offer for the DSP Nifty Bank Index Fund will be open for subscription from May 15th, 2024, until May 27th, 2024.

“A robust banking system is the key to economic growth and development, especially for a fast-growing country like India. At DSP, we endeavor to bring the right products at the right time for our investors. We recommend DSP Nifty Bank Index Fund to investors with longer time horizons, especially based on the long-term performance of the Nifty Bank Index,” said Anil Ghelani, CFA, Head – Passive Investments & Products, DSP Mutual Fund.

DSP is a serious player in the Passive Investments segment with a dedicated investment team as well as business team. We are gradually expanding our product range and with this launch we will have 22 products available for your investment allocation across all asset classes – Equity, Debt, Commodities, and the entire market with a wide range of products of index funds, ETFs and rules based smart beta products,” concluded Gurjeet Kalra, Business Head – Passive Funds, DSP Mutual Fund.

Harsh Baweja takes charge as Director (Finance), REC Limited

Harsh Baweja has assumed the role of Director (Finance) at REC Limited following the Appointments Committee of the Cabinet’s (ACC) approval on May 10, 2024. His selection, endorsed by the Public Enterprise Selection Board (PESB), came after a comprehensive evaluation process involving 11 candidates. Baweja, a Chartered Accountant with over 33 years of experience, brings substantial expertise in financial and business operations from various institutions.

His previous tenure as Executive Director of Finance at REC demonstrated his ability to manage complex financial challenges and his deep understanding of both public and private sector financing. Baweja’s career highlights include overseeing key business offices and driving strategic initiatives that have significantly improved REC’s financial performance, including efforts towards achieving a Net Zero NPA status and diversifying the financing portfolio with a focus on renewable energy.

In his new role, Baweja emphasized his commitment to securing low-cost borrowing, fostering healthy growth for stakeholders, and advancing REC’s leadership in renewable energy financing. His leadership will be crucial in maintaining REC’s financial resilience and supporting its sustainable development goals.

Combination of AI & HI – Strategic adaptation for Enhanced Cyber Defense

In the digital scenario, safeguarding sensitive data and critical systems has emerged as a paramount concern for organisations globally. The symbiotic relationship between Artificial Intelligence (AI) and Human intelligence (HI) is increasingly recognized as a pivotal factor in navigating this complex terrain.

A case study by Deloitte shows that AI can help improve cybersecurity by enhancing automation for routine security tasks, improving threat detection and response times, and reducing human errors and biases.

The benefits are evident in the forecasts of the global AI in cybersecurity market size,4 which was evaluated at US $17.4 billion in 2022 and is expected to hit around US$102.78 billion by 2032, growing at a CAGR of 19.43% between 2023 and 2032.

Artificial Intelligence (AI) has risen as a formidable ally in the perpetual cat-and-mouse game of cybersecurity. Leveraging advanced algorithms and machine learning, AI enhances cyber resilience by meticulously analyzing vast datasets and identifying patterns that may elude human analysts. This predictive capability facilitates early threat detection and intervention, thereby mitigating the likelihood of major breaches. Furthermore, AI’s capacity for continuous learning from historical data and adaptation to new attack strategies serves to bolster defenses against cyber adversaries.

While commenting on the relationship between AI and HI Sachin Rajguru, Chief Information Security Officer, CTBC Bank stated “Organizations can balance reliance on AI’s predictive capabilities with human intelligence by fostering collaboration between AI specialists and local cybersecurity experts. This collaboration ensures that AI-driven insights are interpreted within the Indian context, considering cultural nuances and ethical considerations. Establishing clear ethical guidelines and regulatory compliance frameworks specific to the Indian market further enhances this balance, promoting transparency and trust. Continuous education and training programs on AI ethics empower employees to make informed decisions, reinforcing the symbiotic relationship.”

Beyond detection, AI excels in automating response mechanisms, such as isolating affected systems or neutralising malicious code swiftly and precisely. This automation not only minimises response time but also reduces potential damage, ensuring operational continuity during cyber-attacks.

However, it is imperative to acknowledge the limitations of AI within the dynamic cyber threat landscape. While AI demonstrates prowess in pattern recognition and automated decision-making based on historical data, it often lacks the nuanced understanding of context inherent to human cognition. Human intelligence provides indispensable insights into discerning the intent behind actions, assessing potential collateral damage, and considering ethical implications, domains where AI falls short.

“Indian and global organisations in India can mitigate AI vulnerability to adversarial attacks by employing adversarial training during AI model development and rigorous testing for weaknesses. Continuous monitoring systems should be implemented for real-time anomaly detection, complemented by human oversight from cybersecurity experts. Adaptive defense strategies, collaboration for threat intelligence sharing, and adherence to regulatory frameworks are crucial. Moreover, ongoing employee training programs ensure awareness of adversarial threats. By integrating these measures, organizations bolster AI resilience and ensure effective human intervention in detecting and mitigating adversarial attacks in cybersecurity operations” added Rajguru.

Moreover, AI itself is vulnerable to adversarial attacks, wherein malicious actors deliberately manipulate input data to deceive AI algorithms. This vulnerability underscores the significance of human oversight and intervention in detecting and mitigating such manipulations.

Despite technological advancements, human intelligence remains irreplaceable in cybersecurity. Through comprehensive training and education, employees become vigilant defenders, adept at identifying and mitigating cyber threats. Human intelligence brings intuition, creativity, and critical thinking to the table, essential for recognizing novel attack vectors and devising innovative security measures.

“In the Indian market, organizations can proactively invest in AI technologies by partnering with local AI firms or leveraging government initiatives for research grants. Simultaneously, they should prioritize training and upskilling their workforce in cybersecurity through specialized courses and certifications. Establishing collaboration platforms with academia and industry can foster innovation. Additionally, creating cyber threat intelligence centers can aid in monitoring and responding to emerging threats. By synergizing AI investments with human expertise development, organizations can fortify cyber resilience and adaptability, ensuring robust defense against evolving cyber threats in the Indian market” concluded Rajguru.

In crises, human expertise is paramount. Human intelligence excels in rapid decision-making, crisis management, and effective collaboration under pressure, crucial for mitigating the impact of cyber-attacks and restoring normalcy.

The future of cybersecurity hinges on the seamless integration of AI and human intelligence. By leveraging AI’s computational strength for tasks requiring speed and automation and relying on human intelligence for contextual understanding and ethical considerations, organizations can establish a robust defense against cyber threats.

SBI enters India’s Bullion Market; becomes first bank to attain TCM status at IIBX

SBI on monday its attainment of Trading cum Clearing Member (TCM) status at the India International Bullion Exchange (IIBX). The IIBX, a forward-thinking initiative, aims to enhance India’s global standing by offering a top-notch platform exclusively for precious metals trading.

These developments follow recent RBI guidelines, which permit branches of Indian banks in the GIFT IFSC to function as Trading Members (TM) or Trading and Clearing Members (TCM) at the IIBX. Additionally, the central bank’s directives extend this privilege to SCCs (Special Category Clients), such as nominated banks in India, facilitating gold imports via the IIBX.

SBI’s newfound status as a TCM is expected to boost trading volumes at the IIBX significantly. This achievement also paves the way for SBI IBU Gift City to conduct trades on the IIBX platform and settle transactions for its clients.

Dinesh Khara, Chairman of SBI, emphasized the significance of this milestone, stating, “This marks a transformative moment for India’s Bullion Market, introducing transparency, efficiency, and accessibility. It underscores SBI’s dedication to innovation and excellence in the financial sector.”

Tags: IIBXSBI

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