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Samsung Electronics India appoints Rishabh Nagpal as CPO

Samsung Electronics India has named Rishabh Nagpal as its new Chief People Officer. Nagpal, with 25 years of experience spanning various sectors like IT, Telecom/Hi-Tech, and Consumer Sales, announced his promotion on LinkedIn.

Prior to this role, Nagpal served as Senior Director – Human Resources at Samsung Electronics since 2014. His professional journey includes stints at Huawei Telecommunication (India) Company, IBM, Tech Mahindra, Dell Perot Systems, and Honda Motorcycle & Scooter India.

Read more: RupeeRedee appoints Prerna Arora as Head – HR

Nagpal is a graduate of Delhi School of Economics with an MBA in Human Resource Management / Personnel Administration, and he holds a Bachelor of Engineering from Manipal Academy of Higher Education.

Lendingkart Secures $10 Million in Funding to Boost MSME Lending Efforts

Fintech firm Lendingkart secures $10 million in external commercial borrowing from BlueOrchard, a global impact investment manager under Schroders Group, to bolster lending efforts for MSMEs.

With a net profit of Rs 116 crore in FY23, the company previously secured Rs 200 crore in long-term debt funding from EvolutionX Debt Capital in June 2023.

Founded in 2014 by Lunia, Lendingkart operates nationwide with offices in Ahmedabad, Bengaluru, Mumbai, and Gurugram. Leveraging big data analysis and machine learning algorithms, Lendingkart offers advanced technology tools enabling lenders to assess borrowers’ creditworthiness effectively.

Vijay Kumar Goel Takes appointed as Director in Mb Development of North Eastern Region

Vijay Kumar Goel, an IRSME officer endorsed for Central deputation by the Mb Railways, has been appointed as Director in the Mb Development of North Eastern Region, Delhi, under the Central Staffing Scheme. His tenure is slated for five years from the commencement of his duties or until further directives are issued, whichever occurs first.

He is expected to transition to his new role promptly, following instructions to relinquish his current responsibilities. Notably, per the ACC’s guidelines outlined in the DoP&T Circular dated August 17, 2005, officers are required to assume their new positions within three weeks of receiving their appointment orders to avoid potential debarment from the Central Staffing Scheme.

However, if the officer is engaged in election-related duties owing to the Lok Sabha elections, they may be relieved from their current duties upon obtaining clearance from the Election Commission of India to undertake their new assignment in the Mb Development of North Eastern Region.

Classplus Invests in Gujarat’s Gyan Live for Enhanced Educational Reach

Gyan Live has secured a strategic investment from Classplus, a B2B tech firm. Although the precise amount remains undisclosed, this funding will empower Gyan Live to diversify its offerings to encompass preparation for central government and school exams in multiple regional languages. Furthermore, the investment will facilitate Gyan Live in upgrading its technological infrastructure using the resources of Classplus, thereby enriching the educational experience and expanding its reach.

This investment aligns with Classplus’ broader objective of bolstering educators, content creators, and learners across India by leveraging advanced technology. Founded in 2019 by Taral Patel, Mahesh Ahjoliya, and Chetan Patel, Gyan Live has consistently operated profitably and has amassed a student base exceeding one million through its app and YouTube channels. Specializing in government exams like TET/TAT, GPSC, and CCE, the platform has demonstrated steady growth.

Classplus, renowned for aiding educators and content creators in growing their online coaching ventures, operates in over 3,000 cities and serves more than 50 million students. With substantial investment surpassing $150 million from prominent global backers, the startup is well-positioned to innovate and scale further.

RupeeRedee appoints Prerna Arora as Head – HR

RupeeRedee has made a significant appointment in its organizational structure. Prerna Arora has been named as the new Head of Human Resources, as announced on Monday.

Arora’s role will encompass a wide range of responsibilities within RupeeRedee’s human resource strategy, including conflict resolution, grievance management, and overall employee relations.

With her background as an HR Business Partner at Unlimit and an MBA in HR and Finance, Arora is poised to drive the platform’s growth by recruiting, retaining, and developing top talent while ensuring compliance with labor laws. Her appointment signals RupeeRedee’s commitment to enhancing employee performance and experience for sustained long-term success.

InCred Alternative Investments achieves rapid initial closure of its debut Private Equity fund; Aims for INR 500 Crore

Mumbai: InCred Alternative Investments (‘InCred Alternatives’) has announced the successful initial completion of its first Private Equity fund, ‘InCred Growth Partners Fund – I’ (IGPF – I). As a division of InCred Capital, which is part of InCred Group (‘InCred’), InCred Alternatives oversees institutional, wealth, and asset management.

Launched recently, IGPF-I has secured capital commitments exceeding INR 330 Crore in its initial phase. This accomplishment stems from significant backing from affluent individual investors, leveraging InCred’s robust wealth network. IGPF-I aims for a final close of INR 500 Crore and concentrates on investing in growth and late-stage companies within consumer, financial services, and enterprise/technology sectors, typically investing between INR 40-80 Crore per opportunity.

Heading the fund is Mr. Vivek Singla, Managing Partner & CIO – Private Equity at InCred Alternatives, bringing nearly twenty years of investment management expertise across private and public equity markets.

Commenting on the first close, Vivek Singla said, “The successful first close of IGPF – I is a testament to our strong track record and the trust placed in us by our investors. It is also resonant of the confidence returning to the private equity space, with private market valuations being at realistic levels and a stark shift in the founders’ mindset from ‘growth at any cost’ to ‘profit after all costs.”

 

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Dr Prashant Atrey Shares NHPC’s IT & Cybersecurity’s Roadmap: In Conversation with ObserveNow

In a Hydroelectric Power Corporation, IT infrastructure plays a crucial role in ensuring smooth operations and maximizing efficiency. From monitoring and controlling power generation processes to managing vast amounts of data related to energy production, distribution, and maintenance, a robust IT infrastructure is essential. It enables real-time monitoring of power generation facilities, facilitates communication between different departments, and supports decision-making processes through data analytics and predictive maintenance algorithms. Ultimately, a well-designed IT infrastructure enhances the reliability, safety, and productivity of hydroelectric power operations. In this regard Shivani Babbar, ObserveNow interacted with Dr Prashant Atrey, Executive Director IT, NHPC.

Below are a few edited excerpts from the interview:

Can you provide an overview of your background and experience in the IT industry, particularly in the context of your role as Executive Director at NHPC?

Before joining NHPC, I earned a Bachelor’s degree in Civil Engineering from Aligarh Muslim University, followed by a Master’s degree in Computer Aided Design from IIT Roorkee. Mid-career, I completed a PhD in Structural Engineering at Jamia Millia Islamia University, New Delhi, focusing on FEM-based software simulation techniques. Throughout my extensive career, I achieved various milestones including digitizing design and engineering processes, implementing LANs, and introducing enterprise-level software for project monitoring. I also contributed to the development of MIS systems, IT consultancy projects, and web portals for government entities. Notably, during the Covid-19 pandemic, I facilitated remote work by digitizing processes and implementing e-office solutions. Additionally, at NHPC, I spearheaded the implementation of a new IT roadmap, focusing on ERP, IT infrastructure upgrades, and cybersecurity enhancements. I played a key role in fortifying NHPC’s cybersecurity infrastructure and establishing early warning systems for hydroelectric projects. Furthermore, I led initiatives to improve communication infrastructure, including the deployment of SDWAN and video conferencing setups, along with modernizing internal platforms such as the intranet and mobile apps.

NHPC operates in a dynamic environment. How do you see the role of IT evolving within the organization, and what strategies do you plan to implement to keep pace with technological advancements?

The role of IT within NHPC continues to evolve rapidly, driven by technological advancements and changing business needs.

IT as Strategic Enabler: IT plays a critical role in driving innovation, enhancing efficiency and enabling growth of the company. IT is no longer seen as just a support function but as a strategic enabler for achieving business objectives.

Data-Driven Decision Making: With the proliferation of data, IT is becoming instrumental in enabling data-driven decision-making across all levels within NHPC. NHPC is shifting towards a major technological change through implementation of the State of the Art “New Age ERP”. This involves implementing robust data analytics and business intelligence solutions to extract actionable insights from data.

Cybersecurity: As we all know, energy sector comes under the most critical sector. Hence, energy sector companies and in particular the government companies are always on target by cyber attackers or cyber hackers. NHPC has implemented a very stringent policy, procedures and equipment to safeguard its vital installations. In the coming year, NHPC has already planned to continuously update and upgrade its cyber security infrastructure by implementing robust cyber security measures to protect sensitive data, systems, and networks from cyber threats.

Cloud Adoption: The shift towards cloud computing will accelerate the business process of NHPC. New Age ERP will be implemented by migrating the IT infrastructure, applications, and services to the cloud. This enables greater flexibility, scalability, and cost-efficiency.

Data Governance and Management: Implement effective data governance and management practices to ensure the integrity, security, and compliance of organizational data.

Data security and privacy are paramount concerns in today’s digital landscape. How does NHPC ensure the integrity and security of its IT infrastructure and data assets?

Organizations can bolster the integrity and protection of their IT infrastructure and data assets, thus reducing the likelihood of data breaches and security incidents. NHPC has instituted various strategies encompassing People, Processes, and Technology to embrace a proactive stance toward safeguarding data privacy and security. These strategies include ongoing employee training and awareness initiatives, the implementation of a Cyber Crisis Management Plan and Cyber Security Policy, conducting risk assessments and management procedures, implementing robust authentication and access control measures, ensuring regular security updates and patch management, deploying firewalls and Intrusion Detection Systems (IDS), establishing data backup and disaster recovery protocols, managing vendor and third-party risks, maintaining security monitoring and incident response capabilities, adhering to regulations and standards, and following advisories issued by government agencies, among others.

With the emergence of new technologies like AI and IoT, how do you envision leveraging these technologies to improve NHPC’s operations and services?

The emergence of new technologies like Artificial Intelligence (AI) and the Internet of Things (IoT) presents tremendous opportunities for improving operations. Overall, the combination of AI and IoT offers unprecedented opportunities to optimize operations, enhance services, and drive innovation across a wide range of activities in NHPC. NHPC is already using IoT devices in its “Early Warning System”. IoT devices are also going to play a lead role in Real Time Monitoring of Construction Projects and Power Stations. New Age ERP currently being deployed in NHPC is AI / BI enabled.

Lastly, considering NHPC’s vision for sustainability and environmental stewardship, how do you propose leveraging IT solutions to support these initiatives while driving operational excellence?

NHPC Limited, the foremost entity in Central Sector of India dedicated to Green Energy development, possesses comprehensive capabilities spanning from initial planning to project execution. Initially focusing on hydro projects, NHPC has now expanded its portfolio to include solar, wind, and pumped storage power plants. With an ambitious goal of achieving a 50,000 MW capacity as a Green Energy company by 2047, NHPC’s digital transformation has become imperative. Utilizing IT solutions to bolster sustainability efforts and operational efficiency stands as a pivotal strategy for NHPC’s progression. Key areas of focus include implementing energy management systems leveraging IoT sensors for real-time energy monitoring, integrating renewable energy sources into infrastructure, adopting green practices in data centers, optimizing server utilization through virtualization and cloud computing, deploying IoT sensors for environmental monitoring, and utilizing e-learning platforms to instill sustainability practices within the workforce, thus fostering a culture of environmental stewardship.

Tech Data Expands Tech Data Capital Financing Solutions to Singapore, Australia, and India, Empowering IT Channel Growth

Tech Data, a subsidiary of TD SYNNEX, is introducing Tech Data Capital across Singapore, Australia, and India, unveiling flexible financing solutions in collaboration with chosen financial institutions exclusively for its partners and end-customers. This expansion follows previous rollouts in North America and Europe, reinforcing Tech Data’s commitment to leveraging its expertise and agility in providing tailored solutions for the channel ecosystem.

As the landscape of technology evolves rapidly, stakeholders such as vendors, distributors, and partners increasingly rely on the channel to validate and scale new technologies while seeking guidance and business insights. Many partners are exploring alternative financing options to fuel business growth, invest in new technologies, and meet customer demands. According to the recent Direction of Technology 2023 Report for Asia Pacific & Japan (APJ), credit and financial scalability emerged as significant challenges for 59% of partners in the region.

With Tech Data Capital’s value-added payment solutions powered by selected financial institutions, IT channel partners and their clients gain access to innovative ways to enhance their purchasing power, ultimately boosting profits and fostering the growth of the IT ecosystem.

Through collaborations with chosen financial institutions, Tech Data Capital streamlines the financing process by integrating payment solutions into product sales and securing upfront funding for the full term, thus mitigating credit risks for partners and enhancing customer value. Partners will also benefit from dedicated financial teams equipped with expertise, comprehensive training, and integrated support alongside product marketing and sales teams. Financing options such as installment payments and deferred payments will be available, with terms ranging from 12 to 60 months.

Tech Data Capital is set to launch in Singapore on May 6, 2024, followed by Australia on May 16, 2024, with the launch date for India to be announced later.

IIT Madras Launches Online M.Tech Program in E-Mobility Catering to Working Professionals

IIT Madras has unveiled a novel Web-Enabled M.Tech in E-Mobility (WEMEM) program, tailored specifically for professionals already in the workforce. Boasting an industry-focused curriculum, the initiative is a collaborative effort between academic and industry stalwarts.

Overseen by the Centre for Outreach and Digital Education (CODE) in conjunction with the Department of Engineering Design, the program promises to uphold the esteemed academic standards associated with an IIT M.Tech degree while ensuring practical applicability. Notably, it offers the option of an intermediate exit with a Post Graduate Diploma in E-Mobility, aligning with the flexible educational ethos advocated by the New Education Policy.

Dean of Academic Courses, Prof. Prathap Haridoss, underscores the program’s academic rigor combined with real-world relevance. Meanwhile, Chair of CODE, Prof. Devendra Jalihal, expresses pride in diversifying their suite of specialized offerings for professionals. Associate Chair, Prof. Andrew Thangaraj, highlights the incorporation of industry experts as instructors, ensuring a holistic learning experience blending theory with practical insights.

The program spans seven academic terms, with selection criteria emphasizing proficiency in fundamental Mathematics and Physics assessed through a dedicated test. To accommodate the demanding schedules of professionals, live classes are predominantly scheduled on Saturdays, as noted by Prof. Karthick Athmanathan, Professor of Practice and Advisor to WEMEM.

Prof. C. S. Shankar Ram, Head of the Department of Engineering Design, elaborates on the program’s infrastructure, emphasizing the department’s pivotal role in E-Mobility at IIT Madras. With a dedicated team comprising full-time faculty, Professors of Practice, Adjunct Faculty, and Guest Faculty, alongside specialized labs, the program ensures a comprehensive learning experience bridging theoretical knowledge with hands-on practical skills in E-Mobility.

NPCI International Partners with Bank of Namibia to Introduce Instant Payment System Similar to UPI

In a significant step toward enhancing digital transactions, NPCI International Payments Limited (NIPL), the global arm of India’s National Payments Corporation of India (NPCI), has struck a deal with the Bank of Namibia (BoN) to lead the development of an instant payment system akin to India’s Unified Payment Interface (UPI) for Namibia.

“Through this collaboration, BoN will leverage NIPL’s cutting-edge technology and expertise to establish a similar platform in Namibia, aimed at promoting digital financial inclusivity among its populace,” stated NIPL in a press release.

The main aim of this partnership is to introduce real-time person-to-person (P2P) and person-to-merchant (P2M) transaction capabilities within Namibia.

Speaking about the partnership, Ritesh Shukla, CEO of NPCI International, emphasized its potential to provide Bank of Namibia (BoN) with advanced technology and valuable insights from NIPL. This is expected to aid in the development of a similar platform in Namibia, promoting digital empowerment among its people.

This collaboration is in line with NPCI’s broader goal of expanding the UPI infrastructure worldwide. Recent achievements include introducing UPI services in France, Sri Lanka, Singapore, and Mauritius. Moreover, initiatives like the UPI-PayNow connection between India and Singapore demonstrate NPCI’s dedication to facilitating smooth cross-border transactions.

Through this new initiative, NPCI continues to strengthen its position as a leader in transforming digital payments globally.

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