Amway Invests $4M in Four Research & Development Labs Across India


Launches 14000 sq ft Nutrition, Beauty, Analytical, and Packaging labs in Gurugram

 

Advancing its focus on strengthening scientific capabilities to provide cutting-edge, next-generation support in health and wellbeing, Amway, a global company, today formally introduced its four state-of-the-art Research & Development (R&D) labs across India with an investment of $4 million[1]. By harnessing advanced technology, contemporary science and thought leadership, these labs are poised to redefine industry standards by developing safe, effective, differentiated and high-quality health and wellbeing products with the aim to support people in India and around the world. India is the location of one of the four Amway R&D hubs, worldwide. This strategic move is in line with Amway's efforts to cater to the evolving needs of consumers empowering millions to achieve optimal wellbeing and fostering a healthier future for all.

Amway’s four state-of-the-art R&D labs in Gurugram, Chennai, Bengaluru, and Dindigul collectively total 24,700 square feet, creating a powerhouse of scientific discovery and breakthrough product development.

Talking about the investment from Amway India’s business perspective and describing the benefits to India, Rajneesh Chopra, Managing Director, Amway India, said There is a need for a transformative approach to nutrition and wellness in India, as the health landscape here faces significant challenges related to nutrition, lifestyle and gut health. This investment accelerates Amway India’s product development capabilities and positions Amway to better serve the unique and evolving needs of its consumers and businesses in India and around the world. India stands as one of our top priority markets globally and this investment underscores the confidence of Amway Global in the country’s expertise and potential to drive groundbreaking innovation in the health and wellbeing space.”

“For over a quarter-century, Amway India has earned the trust of people by helping them lead a healthy way of life. Our commitment to a healthier nation envisions empowering our distributors to help transform the lives of millions of Indians by prioritizing healthspan over lifespan. As we continue to drive innovation to offer need-based recommendations, we’ve found that the most crucial element in your health and wellbeing journey is a strong gut that is also linked to improved mental health and immunity. The R&D labs will further support driving scientifically backed initiatives like ‘Morning Nutrition’ – a holistic campaign to support a healthy lifestyle that helps individuals start their day with optimal nutrition to maintain a healthier lifestyle. We are poised to foster a healthier future for all in line with the Government of India’s vision. This strategic investment strengthens our confidence in achieving our goals while solidifying our position at the forefront of the health and wellbeing industry,” Mr. Chopra concluded. 

Introducing the R&D labs in India, Dr Shyam Ramakrishnan, Director, Innovation and Science, India and Southeast Asia, Amway said, “In response to the rising awareness around health, wellbeing and nutrition worldwide, this investment in state-of-the-art R&D labs is well positioned to meet the evolving consumer needs across global markets.  Importantly, it aligns with our global multi-year growth vision of consistently providing recommendations for overall wellbeing tailored to the evolving needs of various age groups.Having an innovation hub in India allows us to harness the incredible Indian talent pool and support the country’s ambition to be a meaningful and significant contributor to overall wellbeing. For more than six decades, we, at Amway, have always prioritized a science-led approach to product development, consistently innovating for our distributors and their customers. We're leveraging top talent in India and around the globe to develop differentiated nutrition, food, and beauty products.  These products are focused on India and Southeast Asia and possibly for other global markets. Aligned with our vision of helping people live better, healthier lives, I believe this move will raise the bar of innovation, keeping science and technology at the forefront, thus showcasing our commitment to make Amway future-ready through aspirational, trendsetting products and solutions.”

Amway is focused on delivering innovative, plant-forward formulations to meet modern nutrition, health and wellbeing needs around 4 key areas, namely – Healthy Weight, Healthy Beauty, Fitness and Healthy Ageing, emphasizing clean labels and sustainability. A team of expert researchers across various scientific disciplines will expedite the development of differentiated solutions. These contemporary R&D labs are equipped with advanced technology and instrumentation, botanical-driven innovation, the latest packaging technology, and more to ensure Amway's benchmark quality and safety standards.

The investment in the R&D labs in India will cater to domestic and global requirements, further augmenting the company’s efforts around research, testing, and validation of innovative ideas, products, and technologies. These labs are equipped to develop product solutions in Foods, Oral solids, Beauty and Personal care segments with premium botanical ingredients for nutrition and skin applications.

ASDC at ACC Thondebhavi empowers rural women by transforming their careers with skill development


·         
Adani Foundation’s Adani Skill Development Centre (ASDC) at ACC Thondebhavi plays a pivotal role in equipping young people with the essential skills needed to succeed.

·         Channamma KS, Gowthami GN, and sisters Vanaja GR and Nirmala GR are among the recent success stories of ASDC skill development programmes.

·         ASDC students are placed in noted corporate houses and multinational companies (MNCs), including Google, among others.

 

ACC, the cement and building material company of the diversified Adani Portfolio, continues to empower rural communities in Karnataka through upskilling. The Adani Foundation’s Adani Skill Development Centre (ASDC) at ACC Thondebhavi has been instrumental in equipping young people with the skills they need to thrive. Recently four inspiring success stories have emerged from this ASDC, demonstrating the transformative impact of its training programmes.


Channamma KS, a 36-year-old woman with a physical disability and speech disorder, faced several challenges in finding employment after completing her Bachelor of Arts degree. Relying on her farmer father, and her daily-wage labourer brother for support, Ms. Channamma’s life changed when she joined Saksham, ACC’s CSR upskilling initiative, and enrolled at ASDC Thondebhavi. After completing a three-month training there, she landed a job as a back-end executive at Google in Marathahalli, earning a monthly income of ₹ 15,000 with free food and accommodation. “I never imagined I would have this opportunity,” she said, adding, “ASDC gave me the skills and confidence I needed to succeed. I am so grateful as I can now support myself and my family.”


Gowthami GN had to discontinue her education after class 12 due to financial constraints. Her family, who relied on agricultural labour, often struggled to make ends meet. However, the future seems bright now as Gowthami joined ASDC Thondebhavi and enrolled in the Retail Sales Associate course. She secured a retail job with an annual pay package of ₹2.25 lakh upon completing her 2.5-month training. She said, “ASDC gave me the chance to learn new skills and build a better future for myself and my family. My parents are so proud of me.”


Sisters Vanaja GR and Nirmala GR were unable to continue their education after completing class 10. Their elderly parents, including their mother who suffers from chronic illnesses, depended on them for support. Recognising the need for skills and employment, they joined ASDC Thondebhavi’s Retail Sales Associate course in June 2023. As a result, they secured retail jobs upon the course completion. They now make a combined annual income of ₹4.51 lakh. The sisters excitedly said, “We are so grateful to ASDC for giving us this opportunity. We are now able to take better care of our parents and build a brighter future.”


ACC and the Adani Foundation’s initiatives via ASDC are highlighted through these success stories. They showcase how skill development can play a crucial role in empowering rural communities and fostering sustainable growth, while contributing to the country’s success.

Airtel Finance introduces fixed deposits at industry-leading interest rates of 9.1%

  • Partners with leading NBFCs and small finance banks to do so
  • Invites customers to manage and track their investments safely and securely through the Airtel Thanks App

 

 Bharti Airtel (“Airtel”), one of India’s leading telecommunications services providers, today, announced the launch of a fixed deposits marketplace under its digital arm, Airtel Finance. These fixed deposits come at an attractive interest rate of up to 9.1% per annum.*

The marketplace enables Airtel Finance to provide an assured return and fixed-income investment option on the digital platform that is built on top of Airtel’s Thanks App framework. It strengthens its portfolio offering of Personal Loans, Airtel Axis Bank Cobrand Credit Cards, Airtel Bajaj Finserv Insta EMI cards, Credit Cards marketplace and Gold Loan.

Anshul Kheterpal, Chief Business Officer, Airtel Finance said, “We are consistently innovating to offer products that are customer centric and, in this endeavor, today, we are excited to announce the launch of our Fixed Deposits proposition. The FD comes at an attractive interest rate that will help our customers manage their funds better and meet their financial goals. We have partnered with the best banks in this venture and promise to offer customers a completely transparent, seamless and digital journey.”

On the Airtel Thanks App platform, customers can book and manage fixed deposits directly without opening a new bank account with a minimum investment of INR 1000.

It is entirely a digital process with three simple steps:

  1. Compare and select FD.
  2. Enter details and complete KYC.
  3. Make payment via existing bank account.

*This service is currently available only on Android devices. It will be made available on iOS shortly. *

Airtel Finance has offered the Fixed Deposit service via a partnership with multiple small finance banks and NBFCs including Utkarsh Small Finance Bank, Shivalik Bank, Suryoday Small Finance Bank and Shriram Finance. This will help customers lock in assured returns at high rates of interest.

Bank FDs are insured up to INR 5 Lakh per PAN per bank by DICGC- Deposit Insurance and Credit Guarantee Corporation (a 100% RBI subsidiary). This will help customers invest in Small Finance Bank deposits with greater assurity. Airtel Finance is also offering fixed deposit options with withdrawal any time after seven days which will put to rest all customer concerns about lock in and lack of liquidity.

Airtel Finance, trusted by more than eight lakh customers, is a financial services platform with an evolving portfolio of offerings aimed at providing personalised, simplified and secured financial solutions to its customers. Currently, Airtel Finance offers multiple products including Airtel Flexi Credit Personal Loan, Co-brand Credit Card, Co-brand Insta EMI card and Gold Loan with financial institutions, all easily accessible on its Thanks App, with additional product offerings like Business Loan and Secured Lending Products in the pipeline. Airtel Finance is on its way to becoming a one-stop solution for all the financial product needs of its 350 mn+ customers across the country.

[Govt] ASDC at ACC Thondebhavi empowers rural women by transforming their careers with skill development


 


·         Adani Foundation’s Adani Skill Development Centre (ASDC) at ACC Thondebhavi plays a pivotal role in equipping young people with the essential skills needed to succeed.

·         Channamma KS, Gowthami GN, and sisters Vanaja GR and Nirmala GR are among the recent success stories of ASDC skill development programmes.

·         ASDC students are placed in noted corporate houses and multinational companies (MNCs), including Google, among others.

 

ACC, the cement and building material company of the diversified Adani Portfolio, continues to empower rural communities in Karnataka through upskilling. The Adani Foundation’s Adani Skill Development Centre (ASDC) at ACC Thondebhavi has been instrumental in equipping young people with the skills they need to thrive. Recently four inspiring success stories have emerged from this ASDC, demonstrating the transformative impact of its training programmes.


Channamma KS, a 36-year-old woman with a physical disability and speech disorder, faced several challenges in finding employment after completing her Bachelor of Arts degree. Relying on her farmer father, and her daily-wage labourer brother for support, Ms. Channamma’s life changed when she joined Saksham, ACC’s CSR upskilling initiative, and enrolled at ASDC Thondebhavi. After completing a three-month training there, she landed a job as a back-end executive at Google in Marathahalli, earning a monthly income of ₹ 15,000 with free food and accommodation. “I never imagined I would have this opportunity,” she said, adding, “ASDC gave me the skills and confidence I needed to succeed. I am so grateful as I can now support myself and my family.”


Gowthami GN had to discontinue her education after class 12 due to financial constraints. Her family, who relied on agricultural labour, often struggled to make ends meet. However, the future seems bright now as Gowthami joined ASDC Thondebhavi and enrolled in the Retail Sales Associate course. She secured a retail job with an annual pay package of ₹2.25 lakh upon completing her 2.5-month training. She said, “ASDC gave me the chance to learn new skills and build a better future for myself and my family. My parents are so proud of me.”


Sisters Vanaja GR and Nirmala GR were unable to continue their education after completing class 10. Their elderly parents, including their mother who suffers from chronic illnesses, depended on them for support. Recognising the need for skills and employment, they joined ASDC Thondebhavi’s Retail Sales Associate course in June 2023. As a result, they secured retail jobs upon the course completion. They now make a combined annual income of ₹4.51 lakh. The sisters excitedly said, “We are so grateful to ASDC for giving us this opportunity. We are now able to take better care of our parents and build a brighter future.”


ACC and the Adani Foundation’s initiatives via ASDC are highlighted through these success stories. They showcase how skill development can play a crucial role in empowering rural communities and fostering sustainable growth, while contributing to the country’s success.

Xiaomi India onboards Katrina Kaif as brand ambassador: A Magical Reunion for a Smarter Tomorrow


Xiaomi India, a global technology brand renowned for its innovation, today announced a strategic partnership with the iconic global actress Katrina Kaif. Kaif will serve as the brand ambassador for Xiaomi's diverse range of Smartphones, TVs, and Tablets. As Xiaomi celebrates a decade of excellence in India, this announcement stands as a testament to Xiaomi's unwavering commitment of innovation for everyone, and it encapsulates the essence of Katrina's global appeal and charismatic beauty perfectly.

 

Katrina Kaif, a celebrated actress in the Indian film industry and a global icon, embodies the spirit of innovation, style, and excellence that Xiaomi strives to embody. Her immense popularity and influence resonate deeply with the brand's growing customer base. With Katrina as its brand ambassador, Xiaomi further aims to strengthen its connection with consumers and reinforce its position as a preferred choice for aspirational Indians seeking cutting-edge technology.

 

In the wake of the exciting announcement, Anuj Sharma, Chief Marketing Officer, Xiaomi India, commented, “As we commemorate a decade of innovation in India, welcoming Katrina Kaif back to the Xiaomi family feels like the perfect way to celebrate. Her grace, widespread appeal, and deep resonance with our audience makes her an ideal ambassador for our next chapter. Both Xiaomi and Katrina have a unique ability to connect with millions of people in an endearing manner. Together, we'll continue to create magic with this association and bring innovative technology to everyone.”

 

Sharing her excitement on coming on board as Xiaomi's new face, actor Katrina Kaif said,“I am thrilled to be back with Xiaomi, especially at this exciting juncture when the brand is celebrating a decade of bringing magic to people’s lives. Xiaomi is a household name in India and their commitment to innovation is something I deeply admire. It feels great to be part of a brand that is constantly evolving and contribute to its iconic legacy. I look forward to represent Xiaomi, a brand that is loved by people across the country and excited to further engage my fans in the innovative world of Xiaomi.”

 

Prateik Das, Associate Director, Marketing Partnerships and Alliances, Xiaomi India further added, “We're thrilled to announce this exciting collaboration between Xiaomi India and Katrina Kaif. This partnership brings together two iconic brands that resonate deeply with Indian audiences. We believe that Katrina's charisma and Xiaomi's innovative technology will create a powerful synergy that will inspire and delight audiences of all ages.”

 

Xiaomi India has cemented its place in households across the country as the most loved and trusted technology brand. Katrina Kaif, on the other hand, has established herself as an icon and symbol of elegance. Together, they promise to bring a new level of excitement to the festive season with a captivating campaign that will kick off this enduring partnership.

 

As Xiaomi and Katrina Kaif collaborate to redefine the Xiaomi brand experience, they aim to become the preferred choice for tech enthusiasts and a symbol of the perfect blend of technology and Bollywood glamour.

 

BYJU’S auditors (BDO) resign due to initiation of insolvency proceedings

The company wishes to outline below some serious concerns about unethical requests made by audit firm, BDO and its failure to adhere to proper procedures.

 

Unethical Requests and Manipulative Tactics: BYJU’S has complied with every request made by BDO, except those that would require crossing ethical and legal boundaries. The real reason for BDO’s resignation is BYJU'S firm refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such an illegal activity. Multiple call recordings exist, where BDO representatives explicitly suggest backdating these documents, which BYJU’S refused to do. BYJU’S strongly believes that this is the main reason for their resignation.

 

Timeline of Events: BYJU’S entered insolvency proceedings on July 16, 2024, due to a legal dispute with the Board of Control for Cricket in India (BCCI). This triggered the appointment of an Insolvency Resolution Professional (IRP), which resulted in the suspension of the company’s Board. Just one day later, on July 17, BDO sent an email to the suspended board of BYJU’S seeking certain clarification regarding historical transactions that BYJU’s had undertaken with a partner based in the Middle East. In the same email of July 17, BDO threatened to resign if they do not receive the requested clarifications within 45 days. Notably, BDO failed to mark the IRP in this email, despite being aware that as of that date, the IRP was in control of BYJU’S and the board had been suspended. BDO eventually resigned after the 45-day window expired, citing the suspended board’s failure to provide the requested clarifications. However, surprisingly, the BDO failed to appreciate that for most of that 45-day period, the IRP was in control of BYJU’S and only the IRP could provide the answers they were seeking.

 

Indeed, during the first meeting of the Committee of Creditors held on 3rd of September 2024, the IRP explicitly noted that he had repeatedly reached out to BDO for clarification during the last 45 days but had received no response. BDO’s lack of communication with the IRP is surprising and suspicious.

 

Middle East Party transactions:  Regarding the transactions with our Middle East partner in respect of which BDO had sought clarifications in its email of July 17, we wish to make it clear that the suspended Board and management of BYJU’S,  had taken  the proactive step of arranging a forensic audit, fully transparent and supervised by BDO, to ensure that there were no issues well before their email on July 17. However, the forensic could not be completed due to the initiation of the insolvency proceedings on July 16, 2024. The failure to complete the forensic therefore cannot be attributed to the suspended Board.

Additionally, its’ important to note that in the virtual board meeting of FY22 , the same foreign transactions were greenlighted resulting in an audit report which was clean. A BDO senior partner has also confirmed on video that after conducting thorough due diligence, they have found no evidence of fraud or malpractice in our international transactions.

 

While we hope that the insolvency admission order will be vacated by the Hon’ble Supreme Court very soon, until such time as the Resolution Professional (RP) is in control of BYJU’S, we wholeheartedly welcome the RP taking the lead in conducting a forensic audit into this specific matter. We are prepared to extend every possible support to facilitate the full audit process.

Dissolving Proteins in Children’s Brains A Rare Demyelination Disorder Treated Successfully by *KIMS Cuddles, Kurnool Dr. Swetha Rampally, Pediatric Neurologist

The human brain is incredibly delicate, and even the slightest change can lead to a variety of severe issues. It is quite uncommon for three children from different regions to experience the same neurological disorder simultaneously. However, this rare occurrence was recently addressed at KIMS Cuddles, Kurnool by Consultant Pediatric Neurologist Dr. Swetha Rampally, who successfully treated these young patients.
Dr Swetha Rampally provided details about the cases. “Recently, three children came to us consecutively, all exhibiting similar symptoms. One of them, a two-year-old girl from Adoni, experienced fever and vomiting for four days, after which her left hand and left leg became paralysed . Upon arrival, her blood pressure was alarmingly high. Another case involved a five-year-old boy from Tadipatri, who lost the ability to move both legs and faced difficulty in urination following two days of fever. The third patient was a ten-year-old boy from Kurnool who reported weakness in both legs, urinary issues, and a history of parotid swelling two weeks earlier.
All three were admitted to the Pediatric ICU under the supervision of Pediatric Intensivist Dr. Naveen Reddy, and we began treatment based on their symptoms. Blood tests, MRIs of the brain and spinal cord, fluid samples from the brain, antibody tests, and nerve function tests were conducted. The results indicated that all three children were suffering from a specific demyelination disorder called  Neuromyelitis optica spectrum disorder (NMOSD).
Upon conducting an eye examination, we discovered that the five-year-old boy had also lost some vision. We immediately administered high-dose immunosuppressive medications and initiated physiotherapy along with visual stimulation. Additional treatments were provided to control blood pressure, relieve pain, and protect the bladder. Three of the children gradually showed improvement, and after some time, they were discharged with instructions to continue immunosuppressive medications. However, due to the potential side effects of the treatment, we kept them under close follow-up for all three patients.
Three months later, the boy from Tadipatri  was detected to  have a relapse in the spinal cord which was detected in MRI scan screening. We escalated his immunotherapy, and he is under close follow up .”
Dr. Swetha Rampally further explained, “NMOSD, or demyelination disorder, is an autoimmune disease that primarily affects the brain, spinal cord, and optic nerves. Symptoms include fatigue, tingling in the legs, blurred vision, vomiting, hiccups, and fluctuations in blood pressure, which can last for weeks or even months. With timely suspicion and treatment, these symptoms can often be alleviated. However, this condition can affect individuals from childhood to the age of 55, and without proper treatment, it can be fatal. Hence specialist care is needed. Even after recovery, there is a risk of relapse, so close monitoring is essential for a long period.”

ZETWERK Secures ARAI Certification for Made in India 60kW and 120kW DC Fast Chargers, Strengthening India’s EV Infrastructure



 

         The certification for ZETWERK's  60kW  & 120 kW DC Fast Charger and proprietary controller card indicates its compliance with operational safety standards and efficiency norms in India

 

         ZETWERK has active contracts to supply these chargers to Indian Oil and other private charge point operators

 

         ZETWERK is currently engaged in R&D to expand its product offerings and is currently working on next-generation Super DC Chargers with capacities of 240kW and 360kW.

 

 ZETWERK, the world’s largest marketplace for contract manufacturing has announced a major milestone in the Electric vehicle (EV) sector with the approval of its 60kW and 120kW DC fast chargers by the Automotive Research Association of India (ARAI). This certification is a leap forward in ZETWERK's commitment to bolstering the EV infrastructure in India and aligns with the government’s ‘Make-in-India’ initiative.

 

The ARAI, a premier research institution under the Ministry of Heavy Industries, Government of India, granted this approval after rigorous testing of ZETWERK’s DC fast chargers. These chargers are designed to meet the highest safety standards, environmental compliance, and performance, ensuring that they provide reliable and efficient charging solutions across the country.

 

ZETWERK’s DC fast chargers are poised to play a crucial role in expanding the EV ecosystem in India. The company has already secured contracts to supply these chargers to Indian Oil Corporation Limited (IOCL) and other private charge point operators. This partnership will increase the availability of fast-charging stations, addressing one of the critical barriers to widespread EV adoption—charging infrastructure.

 

“Securing ARAI certification is a big win for us and reaffirms our commitment to product quality, safety, and reliability. We are proud to contribute to India’s manufacturing growth with this certification, which supports the ‘Make in India’ initiative and emphasizes our role in promoting electric vehicle adoption through premium, domestically produced chargers. Our goal is to provide end-to-end solutions that address the current needs for future innovations in sustainable energy,” said Srinath Ramakkrushnan, Co-founder and COO of ZETWERK.

 

The company will be launching several exciting new products this financial year to strengthen our market presence.  ZETWERK is currently engaged in research and development to expand its product offerings and is currently working on next-generation Super DC Chargers with capacities of 240kW and 360kW. These high-capacity chargers deliver faster charging times, catering to commercial and public EV charging stations. This R&D initiative reflects ZETWERK's long-term vision of revolutionizing the EV charging infrastructure.

 

This ARAI certification is a milestone in our journey to revolutionize the EV charging infrastructure in India,” said Abhay Adya, Business Head – Energy Transition Business, ZETWERK. “Our DC fast chargers are set to impact the EV ecosystem by ensuring users access quick, reliable charging solutions. By collaborating with key partners like IOCL, we are helping to build a robust and sustainable EV infrastructure that will support the rapid growth of electric mobility in India.”

 

The partnership with IOCL, announced earlier this year, is ZETWERK’s commitment to India’s transition to cleaner energy. As part of this collaboration, ZETWERK is set to deploy over 1,400 EV fast chargers across the country. These chargers will have capacities ranging from 50kW to 120kW and will be equipped with advanced DC Dual Gun CCS2 DC Charger technology. This initiative is a cornerstone of IOCL’s renewable energy mission, aimed at reducing the carbon footprint of transportation and promoting sustainable mobility solutions.

 

As India accelerates its push towards electrification, fast and reliable charging infrastructure is critical. ZETWERK’s certified DC fast chargers are a much-needed addition to the country’s EV ecosystem, ensuring that private and commercial vehicles can charge quickly and efficiently. With ongoing R&D efforts and strategic partnerships, ZETWERK is positioned to lead the charge in transforming India’s EV infrastructure, paving the way for a sustainable and electrified future.

Citi Appoints Achintya Mangla as Head of Financing for Investment Banking


                                                                                                 

Citi announced that Achintya Mangla will join the bank as Head of Financing for Investment Banking, effective today September 4.

 

In this newly created role, which will report to Viswas Raghavan, Head of Banking and Executive Vice Chair at Citi, Achintya will assume responsibility for Global Debt Capital Markets (DCM), Equity Capital Markets (ECM), Syndicate and Private Capital Markets to ensure the seamless delivery of capital markets advisory and financing strategies for Citi’s public and private clients.

 

Current Head of Global DCM Rich Zogheb and Co-Heads of Global ECM, Doug Adams and James Fleming, will continue in their respective roles and report to Achintya. Together they will coordinate across the three pillars of the Banking franchise- Corporate Banking, Investment Banking and Commercial banking- to ensure Citi is providing strategic financial advisory services and seamless execution to clients looking to access the capital markets.

 

Achintya will also partner closely with other parts of Citi, including Markets, Wealth and Risk to help drive Citi’s firm-wide Private Credit strategy and to generate cross-asset class incremental alpha opportunities that leverage the full power of Citi’s platform.

 

Welcoming Achintya to this important role reinforces Citi’s ongoing ability to attract and retain top industry talent in positions of leadership across the firm, the bank statement said. Achintya brings deep global experience and joins after more than 22 years at J.P. Morgan where he most recently served as Head of Global ECM. Throughout his two decades with J.P. Morgan, Achintya held roles of increasing responsibility across multiple asset classes and has worked in Asia, EMEA and the U.S. He is a proven leader with a track record of building and leading high-performing teams that deliver innovative, globally-minded solutions to clients.

 

Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund NFO Launched for ULIP customers

·        NFO Period till 15th September, 2024

Bajaj Allianz Life Insurance, one of India's leading private life insurers, today announced the launch of its new fund – Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund, which will be available along with its ULIP products. This new fund presents a unique opportunity for investors to capitalize on the growth potential of high-alpha stocks, diversify their portfolios, and enjoy the benefits of an index-based investment approach, along with a life cover. The NFO period for Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund ends on 15th September, 2024.

The Nifty 200 Alpha 30 Index focuses on stocks that generate returns higher than expected, using a measure called Jensen Alpha (α). Simply put, Jensen Alpha represents the extra profit a stock or investment makes compared to the market’s expectations, as calculated using the capital asset pricing model. This fund aims to grow your money by investing in the top 30 stocks from the Nifty 200 Index that have the highest alpha value.

Investors should note that their investments are subject to higher market risk and volatility. Hence, this fund is a good fit for those with a higher risk appetite and a long-term investment horizon.

Speaking on the launch of the new fund, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “As life goals enablers for India, it’s our commitment to provide customers with reliable tools to achieve their long-term financial goals. With our resilient economy and the strong historical performance of the Indian equity market, the Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund offers an opportunity for our customers to achieve their financial objectives. The historical data of the past five years indicates that a balanced allocation between large and mid-cap stocks, with the Nifty 200 Alpha 30 Index, has been consistently outperforming other market-cap indices across multiple timeframes. Additionally, this fund offers a diversified and passive investment approach with significant growth potential. These features, combined with the advantages of being integrated into a ULIP, are key reasons for customers to review their fund allocation with this launch and get closer to their financial goals.”

The fund aims to replicate the performance of the benchmark index (Nifty 200 Alpha 30 Index), subject to tracking error. The Index will be reconstituted quarterly in March, June, September and December. 

Bajaj Allianz Life ULIP products with underlying Nifty 200 Alpha 30 Index Fund, enables policyholders to achieve their life goals, powered by the security of a life cover and the opportunity for wealth creation.

For more information on the Bajaj Allianz Life Nifty 200 Alpha 30 Index Fund, please visit our website: https://www.bajajallianzlife.com/