July 2023 - Page 6 of 6 -

Amazon Future Engineer Launches Early Internship Program to Empower Women from Underprivileged Communities in India with Tech Experience in Various Roles at Amazon

Amazon Future Engineer (AFE), the flagship philanthropic computer science education program by Amazon, has launched an early internship program exclusively for AFE Scholars. The AFE Internship offers a unique opportunity for girl students from low-income families to gain valuable work experience, preparing them to become future leaders in the tech industry.

68 AFE Scholars, who are already supported by Amazon through financial aid and skill-building courses, will have the chance to participate in an eight-week paid internship program. This internship is offered at the end of their second year of college and focuses on four tech career pathways: Software Development Engineers, Quality Assurance Engineers, Data Engineers, and Support Engineers. “Amazon is leading the way for increased representation of women in engineering, especially from underserved and underprivileged communities. AFE scholarship recipients are among the top-performing women engineering students, and now through the AFE internships, we would be able to tap into this talent pool while also championing the cause of bringing more women into tech roles at Amazon. To date, the AFE program has reached more than 1.2 MM students to explore and learn computer science across more than 7000 Schools in India. Diverse representation in the employee base is critical for us to understand the diverse customer base of the business.” Manish Tiwary, VP and Country Manager, Amazon India

These internships provide hands-on experience with Amazon's cutting-edge technologies, such as Alexa voice technology, Amazon Web Services, and the Amazon retail platform. “The AFE Internship is designed to bridge the skills gap and promote gender equality in the tech industry,” said Akshay Kashyap, Lead of Amazon Future Engineer in India. “By offering early internship opportunities to AFE Scholars, we ensure that they receive the necessary support, skills, and resources to succeed in a tech career. Amazon is committed to investing in the careers of those who are farthest from opportunity.” Their performance during the internship will also be considered for potential return offers as regular interns or full-time employees.

The AFE Scholarship program, launched in 2021, aims to support meritorious girl students from low-income families pursuing degrees in tech and related fields. Since its inception, the program has awarded scholarships to 700 girls across 23 states in India. In addition to financial assistance, the program offers access to Computer Science boot camps, mentorship, networking platforms, and career skills resources. The AFE Scholarship program has gained immense popularity, with the number of scholarships increasing from 200 in the inaugural cohort to 500 this year. Amazon received over 80,000 applications, with an acceptance rate of 7%, making it one of the most sought-after scholarship programs in the country.

Vaishnavi Priya, an AFE intern and a student of the Indian Institute of Information Technology Design and Manufacturing, Kurnool, said, “On my first day at Amazon's India headquarters, I was both nervous and excited. The atmosphere was electric and I was amazed by the vibrant surroundings. My manager and colleagues made me feel welcome and guided me through tasks, encouraging my growth. The Intern's Day event, with its captivating performances, was a major highlight and strengthened our team bond. I would consider it a great privilege to work as an intern at one of the world’s most innovative companies like Amazon.”

By providing young individuals with the opportunity to explore their potential and become active creators of technology, Amazon is committed to creating pathways for a career in tech for underprivileged and underrepresented students. The AFE program provides students with essential coding skills starting from primary school and extending throughout secondary education, seamlessly transitioning them into successful jobs and careers.

Plum ventures into Business insurance, aims profitability by FY25

Plum, India’s leading insurtech company providing employee health & wellness solutions to over 3,000 corporations, is taking a significant leap forward by expanding its offerings to cover businesses insurance with the launch of Plum Business. Plum's expansion into business insurance represents a notable milestone in the company's journey. This is the third line of business that Plum has launched after Employee Insurance and Employee Health Benefits.

Founded in 2019, Plum is Contribution Margin positive with a 3X year-on-year growth. Building on this momentum, Plum will now offer curated and customizable business insurance products, aiming to empower businesses to thrive in an increasingly complex and challenging landscape.

Abhishek Poddar, co-founder and CEO of Plum, said, “The financial well-being of a business is directly proportional to the financial well-being of its employees. Today, businesses are prone to various risks—Financial, Operational, Legal, People and Governance related —yet unfortunately, many remain uninsured. With Plum Business, we aim to create a sustainable ecosystem that safeguards both. We have brought the conversation of 'benefits' and 'wellness' to the spotlight, and we will continue to consult companies on the best and most evolved benefits solutions while driving our existing business forward.”

“With this new business foray, we expect to turn profitable by FY 2025,” Poddar added.

The decision to venture into the business insurance space comes at a crucial time when startups and businesses face multiple challenges around corporate governance. Plum recognizes the need for businesses to prioritize revenue, sustainability and risk management. By providing comprehensive business insurance coverage, Plum enables businesses to protect their people, profits, and runways while instilling trust and confidence in stakeholders.

Plum will offer the following products under Plum Business.

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Aditya Bagarka, Head of Strategy and Innovation at Plum, said, “At Plum, we do not believe in selling products in silos. We are designing holistic solutions for organizations based on their growth journey and risk appetite, understanding that risks in the business landscape are constantly evolving. We help customers in designing their bespoke insurance programs that evolve as they grow and enable them to build their businesses better by guiding them in transferring and mitigating risks effectively.”

Businesses find themselves involved in litigation a lot more than before, and this means mounting legal expenses. The increasing number of complex legal cases and rising litigation costs in India, which amount to 0.5 to 0.7% of the country's GDP, highlight the need for businesses to address insurable risks. Industries such as IT/ITeS, EdTech, Fintech, and any growth stage startup have been identified as having the highest requirements for business insurance, and Plum is prepared to cater to their needs.

With its commitment to providing exceptional and holistic insurance solutions and its track record of steady growth, Plum is well-positioned to guide businesses toward long-term viability and success.

Bank of India Pays Dividend of Rs.668.17 Crores to Government of India

Bank of India (BOI) today paid a dividend of Rs.668.17 crores for the financial year 2022-23 to the Government of India, its majority shareholder. Shri Rajneesh Karnatak, Managing Director & CEO, and all the four Executive Directors of BOI presented the dividend cheque to Finance Minister Smt. Nirmala Sitharaman in the presence of Shri Vivek Joshi, Financial Services Secretary.

The dividend of Rs.2.00 per equity share (20%) was declared by BOI’s Board of Directors on May 30, 2023. The dividend payout is based on the bank’s strong financial performance for the full year 2022-23.

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For the full year 2022-23, BOI’s net profit jumped by 18.15%, which went up from Rs.3,405 crores in FY22 to Rs.4,023 crores for FY23. The Operating Profit increased by 34.09% from Rs.9,988 crores in FY22 to Rs.13,393 crores in FY23.

By successfully paying dividends to the Government of India, Bank of India reaffirms its robust financial performance and unwavering dedication to creating value for its shareholders. This accomplishment stands as a testament to the bank's commitment to excellence and its ability to generate consistent returns.

SMFG India Credit elevates Swaminathan Subramanian as Chief Operating Officer

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) has announced the appointment of Swaminathan Subramanian (Swami) as Chief Operating Officer (COO). Swami was previously the company’s Chief People Officer (CPO), and in his new elevated role he will now manage Operations, Technology, Legal, Enterprise Services, Human Resources, and CSR. Swami brings a wealth of experience and proven leadership skills to his new position, having played a vital role in the company's transformation agenda.

Driven by a strong business acumen and demonstrated versatility of operating in complex business environments, Swami has consistently delivered results and helped take strategic decisions with strong business impact.

Expressing his delight, Shantanu Mitra, CEO & MD, SMFG India Credit, said, “I am happy to witness Swami's growth and his expanded role and responsibilities with us. In his enhanced role, he will lead our digital transformation, corporate legal initiatives, operational efficiency, and focus on building a strong infrastructure, as well as, prioritizing our people and community. This appointment reflects our commitment to developing and nurturing talented leaders who possess proven credentials and exhibit strong learning agility. We extend our best wishes to Swami for the journey ahead.”

Speaking on the occasion Chairman of SMFG India Credit, Noboyuki Kawabata, said “I extend my heartfelt congratulations on Swami’s well-deserved promotion to the position of Chief Operating Officer. His exceptional understanding of the business, as well as dedication and hard work, have certainly made a significant impact to our India franchise and is reflected in his personal growth. As he transitions from his current role as CPO to COO, I am confident that his deep insights and strategic thinking will continue to further drive SMFG India Credit forward”.

Swami has held leadership roles across various geographies such as Africa, Asia and Middle East, apart from India, for over 25 years of his experience in MNC and Indian Business Houses. Before joining the SMFG India Credit family again in May 2021, he was with Sterlite Power, heading the HR function as Group Chief Human Resources Officer (CHRO) for India and Brazil. He has worked with leading companies across the globe during his career, such as Reliance Capital, JP Morgan, Barclays, Standard Chartered Bank, and Accenture.

Swami holds a gold medal in Engineering from Jadavpur University and an MBA from XLRI Jamshedpur.

Bank of India Rolled – Out Mahila Samman Savings Certificate, 2023

· First bank to operationalize this scheme at all its branches

· The scheme offers an interest rate of 7.5% per annum, compounded quarterly.

Bank of India, one of the largest Public Sector Banks in India, has officially launched the Mahila Samman Savings Certificate, 2023. The roll-out ceremony was inaugurated by the MD & CEO, Shri Rajneesh Karnatak through a VC (Video Conference). The event was also attended by ED Shri. P.R Rajagopal, Shri M. Karthikeyan, CGM’s, GM’s from the Corporate Office, and representatives from all offices of the National Banking Group & Zones, who joined in via VC.

MD and CEO Shri Rajneesh Karnatak highlighted that Bank of India is the first bank to operationalize this scheme at all its branches, making them authorized to open accounts under the Mahila Samman Savings Certificate, 2023.

The honourable Finance Minister, Mrs. Nirmala Sitharaman, announced this flagship scheme during the Budget speech FY 2023-2024 on February 1, 2023. Under the scheme, individual girls or women can open a Mahila Samman Savings Certificate, or a guardian can open an account on behalf of a minor girl. The minimum investment required is Rs 1000/-, and any sum in multiples of Rs 100/- can be deposited, up to a maximum limit of Rs 200,000/-. Individuals can open multiple accounts with a gap of three months between each account, subject to the overall investment cap of Rs 2,00,000/-.

Deposits made under this scheme will earn an attractive interest rate of 7.5% per annum and that will be compounded quarterly and credited to the account. All earnings under the Mahila Samman Savings Certificate will be taxable as per existing income tax provisions. However, TDS (Tax Deducted at Source) will not be deducted under the scheme.

The account will mature after two years from the date of opening, and accounts under this scheme can be opened until 31/03/2025. The scheme also provides a nomination facility. In the event of the account holder’s death, the account can be closed prematurely. Premature closure can also be availed in cases of extreme compassionate grounds, such as life-threatening diseases of the account holder or the death of the guardian, where the operation or continuation of the account causes undue hardship to the account holder.

In the case of premature closure under the above conditions, the interest on the principal amount will be payable at the rate applicable to the scheme, i.e., 7.5%. Account closure can also be requested by the customer in case of emergencies or at their discretion, with a penalty of 2% after six months from the date of account opening, and the applicable interest rate will be 5.5%. Account holders can also make partial withdrawals, up to 40% of the eligible balance, after one year from the date of opening the account.

Until now, only post offices were authorized to open accounts under the Mahila Samman Savings Certificate, but the government has allowed scheduled banks to offer this facility through a gazette notification dated 27-06-2023, and Bank of India is the first bank to roll out this scheme.

Green-tech Start up Myplan8 Emerges as Winner at Youth Co:Lab National Innovation Dialogue

Myplan8, a green-tech start up, has been announced as one of the winners at the highly anticipated 5th Edition of the Youth Co:Lab National Innovation Dialogue. This prestigious event, co-created in 2017 by the United Nations Development Programme (UNDP) and Citi Foundation, aims to empower and invest in youth to accelerate the implementation of Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.

Youth Co: Lab was first launched in India in 2019 in partnership with Atal Innovation Mission (AIM) and NITI Aayog. Since its inception, the initiative has served as a platform for youth empowerment and social entrepreneurship, attracting the participation of visionary young minds from all corners of the country.

Among the twelve outstanding start-ups recognized at the Youth Co: Lab National Innovation Dialogue 2022, Myplan8 stood out as a winner in the category of “Promoting Biodiversity-friendly Lifestyles through Technological Solutions in Finance.” Myplan8 has developed a ground-breaking lifestyle scoring system called Green Score, which evaluates individuals’ lifestyles based on various parameters and provides alternative choices that can create a positive impact. The start-up is dedicated to reducing individual carbon emissions and aims to achieve a 50% reduction in consumer-based emissions in India in the coming years. By leveraging finance as a tool, Myplan8 enables a people’s movement for a greener planet through the Green Score initiative.

Dr Chintan Vaishnav, Mission Director of Atal Innovation Mission (AIM), expressed his enthusiasm for the impact of social startups, stating, “Social start-ups are not just businesses; they are catalysts for social change. They address pressing social and environmental challenges, stimulate economic growth, inspire other businesses, leverage technology, and promote collaboration. Their innovative and entrepreneurial spirit drives us towards a more equitable, sustainable, and inclusive future.”

The twelve winning start-ups, including Myplan8, will receive seed funding of up to $5,000 to scale up their innovations, enabling them to create a more significant impact and contribute to the achievement of the SDGs.

Rajat Vishwakarma, Co-founder of Myplan8 expressed that “Myplan8’s victory at the Youth Co: Lab National Innovation Dialogue is a testament to the transformative potential of green-tech solutions and the dedication of Indian start-ups towards building a sustainable and inclusive future. With the technology and intelligence on which we have built this unique scoring system, this has the capability to create the biggest individual-based climate action movement.”

The 2022-23 edition of the Youth Co: Lab National Innovation Dialogue received an overwhelming response with 378 applications from 28 states across the country. After undergoing a rigorous selection process, the top 47 short-listed start-ups had the opportunity to participate in the Youth Co:Lab Springboard Programme. This program provided them with invaluable one-on-one mentoring and capacity-building sessions conducted by experts over a two-month period. Equipped with new knowledge and insights, these start-ups then presented their innovative ideas to an esteemed jury in May 2023, leading to the selection of the final twelve winners.

AbbVie Employees in Delhi Volunteer During 8th Annual “Week of Possibilities” to Support Local Community

– AbbVie, an Allergan Company in partnership with iVolunteer will support Ramjas Sr. Sec. School through the company’s eighth annual Week of Possibilities volunteering program

– Thousands of AbbVie employees globally will participate in service projects to strengthen local communities, expand educational programs and make a positive environmental impact

Today, AbbVie employees in Delhi are participating in its eighth annual Week of Possibilities volunteering program, which unites employees around the world with a single purpose: to give back to local communities through volunteering. From June 26 to 30, thousands of AbbVie employees in more than 50 countries and territories will join forces with trusted nonprofit and community partners across the globe to complete hands-on projects to benefit local communities impacting tens of thousands of people.

Mr. Suresh Pattathil in Ramjas Sr. Sec. School No. 2.jpg

“At AbbVie, we are committed to supporting our local community in Delhi through volunteering, and we’re excited to partner with Ramjas Sr. Sec. School to make a positive impact for children,” said Suresh Pattathil, Managing Director & General Manager, Allergan, an AbbVie company. “During our Week of Possibilities, one of our most anticipated annual volunteer initiatives across the company, thousands of AbbVie employees are united around the world by serving their local communities.”

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Employees of Allergan an AbbVie Company will engage with children at Ramjas Sr. Sec. School. The activities aim to beautifying a school and its garden, learning center ‘Clean and Green’ and make it more appealing to the students.

In each Week of Possibilities, Delhi service projects are selected to ensure that AbbVie volunteer efforts align with the greatest needs of each local community. Local projects are designed and implemented in partnership with nonprofit partners close to the communities being served, including Ramjas Sr. Sec. School.

AbbVie’s Week of Possibilities started in 2014 and is now a global tradition for the company. It is funded in part by the AbbVie Foundation and focuses on service projects in the local communities in which AbbVie employees live and work around the world.

Learn more about AbbVie's Week of Possibilities at www.abbvie.com/givesback and AbbVie’s ongoing commitment to local communities in its 2022 ESG Action Report.

Škoda Kushaq gets all-new Matte Edition

› Škoda Auto India’s best-selling car comes in with all-new aesthetics

› Body gets Carbon Steel shade in a matte finish

› Rest of the car adorned with Glossy Black and chrome elements

› Matte Edition will have a limited run of 500 cars only

› Priced at a premium of ₹40,000

› Available in 1.0 TSI and 1.5 TSI engines

› Choice of 6-speed manual and automatic and a 7-speed DSG

› Positioned between the flagship Style and niche Monte Carlo variants of the Kushaq

› Hosts the 25.4 cm Infotainment System with Škoda Play Apps

› Equipped with Wireless Smartlink — Apple Carplay and Android Auto interface

› Powered by Škoda Sound System — 6 high performance speakers and a subwoofer

With a fleet full of 5-star-safe, crash-tested cars, Škoda Auto India has introduced the all-new Kushaq Matte Edition. The Kushaq was the first vehicle on the Made-for-India, ready-for-the-world MQB-A0-IN platform. It debuted in July 2021. The Kushaq, with the Slavia, was a key driver in Škoda Auto India having its Biggest Year in 2022 and made the country Škoda Auto’s largest market outside Europe, and the third largest in the world.

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Petr Šolc, Brand Director, Škoda Auto India, said, “The Kushaq will soon be completing 2 successful years in the market. We have been constantly making updates and adding value to the car based on customer feedback. The Matte Edition is the latest in this endeavour where we are offering an enhanced, matte aesthetic for discerning customers, along with distinct styling enhancements. We look forward to welcoming more customers into the Škoda family with the Kushaq Matte Edition, and further build our SUV expertise, with superior driving dynamics and safety that comes standard with a Kushaq.”

The Kushaq Matte Edition sports the popular Carbon Steel paint in a matte finish. The ORVMs, door handles, rear spoiler are finished in Glossy Black to contrast with the Carbon Steel matte body work. However, some of the elements like the grille, the trunk garnish and window garnish continue being finished in chrome to stand out from the rest of the matte body. Like the Monte Carlo, the Kushaq Matte Edition also gets a 1.5 TSI badge in the rear for the 1.5 TSI engines and the Škoda Sound System powered by 6 high performance speakers and a subwoofer. The vehicle hosts the 25.4 cm infotainment system with the Wireless Smartlink — Apple Carplay and Android Auto interface — with Škoda Play apps.

The Kushaq Matte Edition is available in both 1.0 TSI and 1.5 TSI engine configurations. The transmission options are a 6-speed manual, 6-speed automatic and 7-speed DSG. This special edition will be limited to 500 units and slots between the flagship Style and the niche Monte Carlo variants.

The Kushaq set a benchmark for safety when it was crash-tested by the Global New Car Assessment Programme (GNCAP) in October 2022. It was the first car manufactured India tested under the newer, more stringent crash test protocols. It was also the first car manufactured in the country to get 5-stars for both adults and children. And the highest rated car at 29.64 till the Slavia scored 29.71. The Kushaq and Slavia continue topping the charts for safety with a 5-star rating for both adults and children.

Price Details:

Model	Manual Transmission	Automatic Transmission
Kushaq Matte Edition 1.0 TSI	₹ 16,19,000 /-	₹ 17,79,000 /-
Kushaq Matte Edition 1.5 TSI	₹ 18,19,000 /-	₹ 19,39,000 /-

Malaika Arora unveils Kalyan Jewellers’ new showroom in Karnal at Dyal Singh Colony

Takes up the tally of showrooms in the state of Haryana to 4

Offers luxurious shopping experience in world-class ambience

The city of Karnal came to a standstill as crowds jostled to catch a glimpse of Bollywood actor Malaika Arora at the inauguration of Kalyan Jewellers’ showroom at Dyal Singh Colony. With this launch, Kalyan Jewellers marks its presence across four locations in the state of Haryana. This brand new showroom, inaugurated by Bollywood diva Malaika Arora, will offer a luxurious shopping experience to customers, with a wide array of jewellery designs. The company has been consistently expanding its brand footprint and operations in the region, to supplement its growth and make the brand more accessible to patrons in Haryana. This is the jewellery brand’s 4^th showroom in the state of Haryana.

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Addressing the enthralled crowd, Bollywood star Malaika Arora said, “I am delighted to inaugurate this magnificent new showroom of Kalyan Jewellers in Karnal. Being a part of this extraordinary event is an absolute honor for me. I have always believed that the exquisite collections offered by Kalyan Jewellers are a harmonious blend of elegance, each paying tribute to the rich traditions followed in various parts of our country. Representing this esteemed brand fills me with immense pride, knowing that it is built on the pillars of trust and transparency, with deep focus on customer satisfaction. I am confident that the patrons in this region will wholeheartedly embrace and support the brand.”

Talking about the new showroom, Mr. Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, said, “As a company, we have achieved huge milestones and taken major strides towards creating a holistic ecosystem to enhance the customer shopping experience. We are delighted to announce the launch of our new showroom in Karnal. As we embark on this next phase of our growth journey, consistently expanding our geographical footprint in the region, we are committed to continue offering best-in-class shopping experience to our customers while staying true to the company's core values of trust and transparency in times to come.”

The newly-launched showrooms will feature an extensive range of designs from Kalyan Jewellers' jewellery collections, presented in a world-class ambience. Additionally, the “Kalyan Special Gold Board Rate”, which is the lowest in the market and standardized across all company showrooms, will apply, ensuring a seamless and service-backed shopping experience. In celebration of the showroom launch, Kalyan Jewellers is offering a unique promotion of 0% making charges on half the purchase value for customers shopping for a minimum of Rs. 1 lakh. These offers are valid for a limited period only.

The jewellery retailed at Kalyan Jewellers is all BIS hallmarked and goes through multiple purity tests. Patrons will also receive Kalyan Jewellers' 4-Level Assurance Certificate, which guarantees purity, free lifetime maintenance of ornaments, detailed product information, and transparent exchange and buy-back policies. The certification is part of the brand's commitment to offering the very best to its loyalists.

The showroom will also stock Kalyan's popular house brands, such as Lila – diamonds & semi-precious stone jewellery, Tejasvi – Polki jewellery, Mudhra – handcrafted antique jewellery, Nimah – temple Jewellery, Glo – dancing diamonds, Ziah – Solitaire-like diamond jewellery, Anokhi – uncut diamonds, Apoorva – diamonds for special occasions, Muhurat – wedding jewellery, and Rang – precious stones jewellery.