Seasonal Magazine - LIC IPO Cover Story by John Antony

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VOLUME 19 ISSUE 2 FEBRUARY 2022

YEARS

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MAGAZINE

Seasonal www.seasonalmagazine.com

Managing Editor Jason D Pavorattikaran Editor John Antony Director (Finance) Ceena Associate Editor Carl Jaison Senior Editorial Coordinator Jacob Deva Senior Correspondent Bina Menon Creative Visualizer Bijohns Varghese Photographer Anish Aloysious Office Assistant Alby CG Correspondents Bombay: Rashmi Prakash Delhi: Anurag Dixit Director (Technical) John Antony Publisher Jason D Pavorattikaran

EDITORIAL

THE INNOVATION WE DESIRED BUT CAN'T DIGEST! What do we do when we cross 60? We may retire of course if we can afford it, but there is one more thing we all invariably end up doing. We start advising and we start exhorting our younger generations to innovate more. The great idea is that, we seniors did what all we could do, and now it is up to you youngsters to innovate! And what is more, we say, you have the technology with you to innovate, unlike us! If we are ordinary mortals, we can exhort only to our kids or grandkids. But what if we are politicians, economists, bankers, scientists or business leaders? We can exhort to whole generations of youngsters to innovate. This is what they have been doing ever since at least World War II ended, but with the advent of revolutionary technology like Internet, the pace of this exhortation gathered momentum – through mediums like commencement addresses at universities or through the books these leaders write after retirement.

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Nobody does this as well as politicians. “You can do this,” or “You are the future”, they say whenever they address students and young professionals. And finally, the younger generation did it. It was started in 1982 by an American computer scientist called David Chaum, who was all of 27 years when he figured out what we now call as blockchain. The idea was simple – design a database that cannot be rolled back, and thus cannot be tampered with ever! Soon other young computer scientists, physicists and mathematicians, then in their 20s and 30s like Stuart Haber, W. Scott Stornetta & Dave Bayer joined forces together to implement blockchains efficiently. The world didn’t end at Y2K and the exhortations to innovate continued ever more incessantly from the senior crowd. And by 2008, a brilliant mind – possibly a very young mind or a group of young minds – made the ‘innovation of the millennium’ by bringing together two nascent technologies – decentralized computing and blockchains – to create the first decentralized blockchain in the world. What is more, this anonymous mind which goes by the name Satoshi Nakamoto also made a unique use-case for this innovation – the world’s first cryptocurrency designed against mindless and senseless inflation. Bitcoin was born. But nobody much outside the computing world noticed the great innovation, especially those who always used to exhort the young to innovate! Even the rare ones who noticed couldn’t possibly understand what blockchain or bitcoin was all about. And thus began its silent ascent. From being next to worthless when Satoshi Nakamoto minted the first bitcoin, by 2010 thirteen bitcoins could be used to buy 1 dollar. That was the time when some people

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David Chaum

Stuart Haber

W. Scott Stornetta

Dave Bayer used to spend two bitcoins to get a pizza and then post it in what was the social media of those days! Today, one bitcoin trades at Rs. 43.80 lakhs. Those who have even some bitcoin think twice before selling off even one-thousandth of a bitcoin i.e. 0.001 BTC, as it costs Rs. 4380, much like a good frontline stock in the Indian market. And all the while, from 2008 to 2021, there hasn’t been something more derided than Bitcoin by some of the most powerful people in this planet – from former US President Trump to several country heads to Central Bank Chairmen to renowned economists to large investors like Warren Buffett to some of the most powerful CEOs in the banking and financial services industry like JP Morgan’s Jamie Dimon to today’s Super CEO Elon Musk and even superpower China had attacked bitcoin, but bitcoin has shrugged it all off and continued its ascent. This is what the thinking world, especially those who forever call for innovation, should finally wake up and notice. There is no point in deriding something just because we don’t understand it a bit. Bitcoin remains valuable because of the uniqueness of its underlying technology – the decentralized blockchain – which achieves many things that no kind of financial regulation or law could ever achieve even centuries after the industrial revolution. These achievements include its democratic nature, its open source architecture and its unparalleled transparency as a public blockchain, which keeps it a self-regulatory and selfgoverning model. It is called a trustless model, as for the first time in the financial world, there was no need for trust in a financial transaction! It is something like editing a Wikipedia article. If somebody wrote something erroneous there, others would take notice automatically and correct it. Or like how a new piece of functionality gets added to the Linux open source operating system. But innovation didn’t stop at bitcoin. How can it stop, with all our youngsters being constantly exhorted to innovate? They started innovating on the innovation of the millennium – bitcoin – and thus was born Ethereum which brought what is called Smart Contract functionality into the decentralized blockchain. Suddenly decentralized blockchains became programmable, thereby exploding the use-cases to a million possibilities. That is why, today you will see predictions like, it will be on Ethereum that the next version of World Wide Web will be built and so on.

Jamie Dimon

Elon Musk

And the person who founded Ethereum and its currency or token ETH in 2013 is not a businessman or an economist or a banker. He is a Russian programmer who immigrated to Canada with his parents, and dropped out of university there, to pursue his world changing innovation of bringing smart contracts to the decentralized blockchain. And Vitalik Buterin is all of 27 years even in 2021! The computer programmer who is equally at ease discussing monetary policy and a hundred other subjects. The floodgates to innovation on the blockchain have been open ever since. Today there are around 15,000 decentralized public blockchains in the world, competing with Ethereum, with their own unique usecases and tokens, like Binance, Solana, Cardano, Ripple, Polkadot etc. Perhaps the greatest misnomer regarding these mammoth projects – most of them bigger than most listed Indian companies – is that their tokens are really currencies. Just like how Bitcoin is not a currency like dollar or rupee, Ether and the others are best considered as tokens that are digital assets. Or in other words, they are like shares or stocks in these public blockchains. Today, most countries are staring at blockchains and cryptocurrencies as though they have allowed this Frankenstein to be unleashed! Instead, what is needed is sensible regulation over them, just like how US and much of the developed world is facing this new reality in the modern world. China is at the other end of the spectrum, and China hoped that its economic muscle power would seriously dent the crypto movement, but for cryptos it has just been a minor blip in their journey of innovation. What governments and central banks fear most about cryptos is their decentralized architecture, which makes most of the financial regulations redundant. But counterbalancing it, is the public nature of these blockchains which means anyone can explore these databases to see what is going on, which ensures unparalleled transparency. How can we fault the young brains behind these innovations? We asked them to innovate, and they did too, but a little bit more than what we can chew! They didn’t just have a view on technology, but also had their views on democracy, transparency, and monetary policy! John Antony SEASONAL MAGAZINE

CONTENTS WHY LIC IPO IS A NEVER BEFORE, NEVER AGAIN PUBLIC OFFERING LIC of India is in the final stages of filing DRHP for its IPO which is expected to be India’s largest at around Rs. 1 lakh crore for a valuation of Rs. 15 lakh crore. With assets of $463 billion, Life Insurance Corporation of India is larger than even many booming national economies like Israel, Norway, UAE, Denmark, Malaysia, Singapore & Hong Kong! Unbelievable? Then wait till you hear the full story. Even with such worldbeating assets, LIC of India is likely to offer its IPO at modest valuations, which will see it listing behind India’s most valuable firm Reliance Industries

TAMIL NADU TOURISM

INDIA’S TOURISM LEADER IS BACK WITH MORE OFFERINGS Tamil Nadu has always been India's frontrunner in both domestic and inbound tourism. Then came the pandemic which inevitably took its toll on the tourism sector across India and the world, including in.. Tamil Nadu as its crown jewels like

CAN PRESTIGE ESTATES PROJECTS KEEP UP THE MOMENTUM? While the last 18 months was one of the most difficult periods for India Inc, for Prestige Estate Projects it was a dramatic year of turnaround. Under Chairman & Managing Director Irfan Razack’s

QUARTERLY HEALTH CHECK-UP The healthy, the ailing & the recoveries in Q2

UNION BANK ALL SET TO ENTER A NEW GROWTH PHASE The last four fiscals have been among the most difficult years for the 102 years old Union Bank of India. From FY’18 to FY’20, the public sector bank’s bottomline also went into the red. But in

SAVE RS 400 A DAY, GET RS 3 CRORE ON RETIREMENT AND RS 1 LAKH MONTHLY PENSION In order to avoid financial scarcity during your retirement, financial planners advise young earners to invest their savings in equityoriented or hybrid instruments like NPS, so that they can accumulate

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CRYPTO MAJORS BTC & ETH SET TO DOUBLE, HUGE DEMAND IN JOBS FOR CRYPTO SPECIALISTS Two of the biggest cryptocurrencies in the crypto market are set to double in value this year, according to analysts.

BATTLE LINES DRAWN IN INDIA'S SATELLITE INTERNET SPACE, AIRTEL & US GIANTS WARD OFF ELON MUSK THREAT AirTel backed OneWeb, and US based Amazon, Hughes, Google, Microsoft, & Meta (Facebook) all have high ambitions on India's satellite internet space, and they have for now kept at bay a threat by Elon Musk promoted Starlink,

RAILTEL: COMMITTED TO NATIONAL DIGITAL TRANSFORMATION By Puneet Chawla, CMD, RailTel

Microsoft CEO Nadella Says METAVERSE IS A BREAKTHROUGH THAT CAN'T BE OVERSTATED

HOW JSSAHER ENRICHES ITS STUDENTS AND COMMUNITY

Speaking at Microsoft Ignite 2021 conference on November 2, CEO Satya Nadella, said, “It is no

Mysuru based JSS Academy of Higher Education & Research (JSSAHER) is forever being proactive and innovative with its initiatives, projects, industry

IS KALYAN GETTING READY TO BRING ‘KALYAN’ TO ITS INVESTORS?

HOW SATHYABAMA MOVES AHEAD, UNFAZED BY THE PANDEMIC ISSUES

REGULAR EXERCISE CAN PROTECT AGAINST MEMORY LOSS, AND FIGHT THE MAJOR KILLER, ALZHEIMER'S DISEASE Alzheimer's disease, a leading form of dementia or memory loss, is a progressive neurological disorder that can lead to brain shrinkage also known as atrophy and gradually can also lead to the death of these brain cells. It is a leading killer disease, next only to diabetes,

WHICH IS MORE DANGEROUS? LOW BLOOD SUGAR OR HIGH BLOOD SUGAR? Diabetes management is not an impossible task. You can keep your blood sugar levels under control in several ways. One can avoid exacerbating the issue and lead a healthy and happy life by making

VITAMIN B12 DEFICIENCY IS COMMON AND HERE ARE THE MAIN SYMPTOMS TO WATCH FOR While mild vitamin B12 deficiency triggers symptoms that can go unnoticed, long-term severe deficiency can cause damage to nerve cells. And when this happens, your toes and fingers are likely to show some symptoms.

INCREASED SCREEN TIME CAN CONTRIBUTE TO STROKES IN THE YOUNG The pandemic can be blamed for "pushing us into a situation where most working adults and children are required to stick to their screens for prolonged hours", says a doctor.

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NEWS-IN-FOCUS TATA ANNOUNCES WINNERS OF THE TATA IMAGINATION CHALLENGE 2021

Tata announced the 13 winners of its Tata Imagination Challenge 2021 who will receive ?2 lakh each, a TAS preplacement interview* and mentorship sessions. This challenge is an idea fest that rewards innovative ideas which promise change, said Tata. This year it received 85,000+ registrations from 4,800 campuses across India and the planning for 2022 has already begun, it added.

INDIA GETS 6TH EDTECH UNICORN AS LEAD SCHOOL'S VALUATION HITS $1.1 BILLION

LEAD School has become a unicorn after raising $100 million from investors led by GSV Ventures and WestBridge Capital. The Mumbaibased edtech startup doubled its valuation in less than a year to $1.1 billion. Founded by Sumeet Mehta and Smita Deorah in 2013, LEAD School is India's sixth edtech startup to turn unicorn after BYJU's, Unacademy, Eruditus, upGrad and Vedantu.

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AUSTRALIAN OPEN DRAW POSTPONED UNTIL FURTHER NOTICE AMID DJOKOVIC CONTROVERSY

Draw to determine men’s and women’s singles brackets at Australian Open, which was scheduled to be held at 3 pm local time in Melbourne today, has been postponed until further notice, a tournament official said. This comes amid the controversy surrounding Novak Djokovic's participation in the tournament. Despite a court reinstating his visa, Djokovic still faces the prospect of deportation.

GUJARAT TO BUILD RS 1,670 CRORE CORRIDOR LINKING STATUE OF UNITY AND SHABRI DHAM Gujarat government has approved a Rs 1,670-crore budget to build a 218kilometre long corridor to link the Statue of Unity in Narmada district and Shabri Dham in Dang. The corridor will connect Saputara, Shabri Dham, Songadh, Ukai, Devmogra, Mathasar and Zarwani. The state government on Wednesday approved infrastructure projects worth Rs 4,437 crore, including the construction of a coastal highway.

SHIV SENA WILL NOT BE PART OF ANY ALLIANCE IN UTTAR PRADESH: SANJAY RAUT

Shiv Sena will not be part of any alliance in Uttar Pradesh, Rajya Sabha MP Sanjay Raut said. "We have ideological differences with Samajwadi Party but we want a change in the state," he added. "We have been working for a long time in UP but didn't contest elections because we didn't want to hurt BJP," Raut further said.

HAVEN'T WATCHED ' SPIDER-MAN: NO WAY HOME'; WILL WATCH IT WITH SON: KIRSTEN DUNST

Actress Kirsten Dunst, who portrayed Mary Jane Watson in three Spider-Man films between 2002 and 2007, with actor Tobey Maguire, said she hasn't yet watched 'SpiderMan: No Way Home'. She added, "I know Tobey's in it and it's...a huge surprise and everyone's freaking out." "I'll watch it with my son because he's starting to get into Spider-Man stuff," Kirsten said.

YOUTUBE ALLOWS ITS PLATFORM TO BE WEAPONISED: 80 FACT CHECKERS TO CEO

Around 80 fact checkers have written an open letter to YouTube CEO Susan Wojcicki, saying, "YouTube is allowing its platform to be weaponised by unscrupulous actors to manipulate and exploit others." Their letter also described YouTube as a "major conduit" for falsehoods. The letter urged YouTube to make four changes to its operations.

REPRESENTATION MATTERS: PRIYANKA ON VIRAL PIC OF BOY'S REACTION WHILE WATCHING 'ENCANTO'

Actress Priyanka Chopra took to her Instagram Stories to share the viral picture of a two-year-old boy's reaction while watching 'Encanto'. The boy named Kenzo Brooks went viral after his photo, reacting to 'Encanto' character Antonio resembling him, was shared by his mother earlier. "That is why representation matters," Priyanka wrote alongside the picture.

KARNATAKA COLLEGE BANS HIJABS, SAFFRON SCARVES INSIDE CAMPUS

A state-run college in Karnataka's Chikkamagaluru has banned hijabs and saffron scarves inside the campus. The decision was taken in a parentteacher meeting. "Muslim girl students can wear a shawl to cover their heads," the college said. This comes after some students of the college wore saffroncoloured scarves as a way of protesting against Muslim students wearing hijabs in classrooms.

MEGAN FOX GETS ENGAGED TO MACHINE GUN KELLY, SAYS 'WE DRANK EACH OTHER'S BLOOD'

Actress Megan Fox got engaged to rapper Machine Gun Kelly after dating for a year and a half. The 35year-old actress made the announcement by sharing a video of the proposal on Instagram. "And just as in every lifetime before this one...and as in every lifetime that will follow it...I said yes...and then we drank each other’s blood," she wrote.

WHAT'S THE RATE AT WHICH EMPLOYEES ARE LEAVING INDIA'S TOP IT COMPANIES?

India's top IT company TCS' attrition rate rose to 15.3% in the October-December period from 11.9% in the previous quarter, however, it claimed it's the "lowest in the industry". Second-largest IT firm Infosys' attrition rate rose to 25.5%, while Wipro's attrition rate rose to 22.7%. Attrition rate is used to describe the rate at which employees are leaving the company. SEASONAL MAGAZINE

MSEDCL DETECTS OVER 1,000 CASES OF POWER THEFTS IN PUNE DIVISION WORTH RS 2 CR The Maharashtra State Electricity Distribution Company Ltd (MSEDCL) detected 1,145 cases of power theft in five districts under the Pune Division. In these cases, illegal power worth over Rs 2 crore was consumed. MSEDCL has been conducting dedicated drives to detect power thefts in the division. In four such drives conducted over the last four months, MSEDCL officials detected 6,428 cases.

JASON MOMOA, LISA BONET SPLIT AFTER 16 YEARS TOGETHER

Actors Jason Momoa and Lisa Bonet announced that they have ended their 16-year relationship. "We have all felt the squeeze and changes of these transformational times...A revolution is unfolding and our family is of no exception," the couple said in a statement. They had started dating in 2005 and married in late 2017. They have a son and daughter together.

NEWS-IN-FOCUS 'DELTACRON' COVID-19 INFECTION IS NOT REALLY A THING: WHO

WHO's COVID-19 Technical Lead Maria Van Kerkhove has said that the phrase "Deltacron", which suggests that people have been infected with both the Delta and Omicron variants of COVID-19, "is not really a thing". "In fact what we think that is, is that it's a result of contamination that has happened during the sequencing process," she further said.

JUPITER PROMISES A NEW WAY OF BANKING THAT KEEPS PACE WITH YOU Being money-wise is the new cool, says Jupiter—a 100% digital banking app that promises to provide jargonfree banking for millennials. With personalized Insights into your daily spends & Pots to help you save for your goals, Jupiter aims to kill the 'I'm not good with money' excuse. Users get a free debit card and earn 1% rewards on spends*.

RETAIL INFLATION RISES TO 5.59% IN DEC COMPARED TO 4.91% IN NOV

WAS REPLACED BY A BIG STAR IN PROJECT, THEY DIDN'T TELL ME: SHEFALI

CHINA'S BIRTH RATE DROPS TO RECORD LOW IN 2021

WEALTH OF WORLD'S 10 RICHEST MEN DOUBLED TO $1.5 TRILLION DURING PANDEMIC: OXFAM

India's retail inflation rose to 5.59% in the month of December from 4.91% in November, government data revealed. This is the sixth consecutive month that CPI data has come below the Reserve Bank of India's upper margin of 6%. India's factory output, measured in terms of Index of Industrial Production (IIP), witnessed a year-on-year growth of 1.4% in November.

Mainland China's birth rate dropped to a record low of 7.52 per 1,000 people in 2021, down from 8.52 in 2020, the National Bureau of Statistics data showed. The natural growth rate of China's population was 0.034% for 2021, the lowest since 1960, according to the data. There were 10.62 million births in 2021, compared with 12 million in 2020.

SECURITY GUARD, TWO OTHERS ROBBED AT KNIFE POINT IN PUNE Four unidentified men allegedly robbed a security guard and two others at knife point in Pune’s Bopdev Ghat. The 22-year-old victim was going towards Saswad road via Bopdev Ghat on a motorcycle along with his brother Aman and friend Surendra. Four people on two bikes intercepted them and robbed them of ?6,500 and three cellphones, police said.

Actress Shefali Shah has revealed that she was once replaced in a project by a 'bigger star' and she wasn't informed about it. "I felt terrible about it...It was...a sense of 'Arrey, bata toh dete' (You could have told me at least)," she added. Shefali said that she also felt bad about losing the "really nice" role.

The fortunes of the world's 10 richest men, including Tesla CEO Elon Musk, Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates, more than doubled during the pandemic to $1.5 trillion, according to Oxfam. Their soaring profits since the pandemic began have made them six times more wealthy than the world's poorest 3.1 billion people, the

WHY YOU SHOULD STILL TRY TO AVOID CATCHING OMICRON

individuals without underlying medical conditions, Omicron "will not do too much damage," said David Ho, professor of microbiology and immunology at Columbia University. Still, the fewer infections, the better, especially now, "when the hospitals are already overwhelmed, and the peak of Omicron wave is yet to come" for most of the United States, Ho said.

A FAST-SPREADING OMICRON VARIANT THAT CAUSES MILDER ILLNESS COMPARED WITH PREVIOUS VERSIONS OF THE CORONAVIRUS HAS FUELED THE VIEW THAT COVID-19 POSES LESS OF A RISK THAN IN THE PAST. IN WHICH CASE, SOME ASK, WHY GO TO GREAT LENGTHS TO PREVENT GETTING INFECTED NOW, SINCE EVERYBODY WILL BE EXPOSED TO THE VIRUS SOONER OR LATER? esearch has indicated that Omicron may be more likely to lead to an asymptomatic case of COVID-19 than prior variants. For those who do have symptoms, a higher proportion experience very mild illness, such as sore throat or runny nose, without the breathing difficulties typical of earlier infections.

But the extraordinary spread of Omicron in many countries means that in absolute numbers, more people will experience severe disease. In particular, recent data from Italy and Germany show that people who are not vaccinated are far more vulnerable when it comes to hospitalization, intensive care and death. "I agree that sooner or later everyone will be exposed, but later is better," said virus expert Michel Nussenzweig of Rockefeller University. "Why? Because later we will have better and more available medicines and better vaccines." You might become only mildly ill, but you could pass the virus to someone else at risk for critical illness, even if you have antibodies from a prior infection or from vaccination, said Akiko Iwasaki, who SEASONAL MAGAZINE

studies viral immunology at Yale University. Infections with earlier variants of the coronavirus, including mild infections and "breakthrough" cases after vaccination, sometimes caused the lingering, debilitating long-haul COVID syndrome. "We have no data yet on what proportion of infections with Omicron... end up with Long COVID," Iwasaki said. "People who underestimate Omicron as 'mild' are putting themselves at risk of debilitating disease that can linger for months or years." Also unclear is whether Omicron will have any of the "silent" effects seen with earlier variants, such as self-attacking antibodies and changes in insulinproducing cells. Omicron treatments are so limited that doctors must ration them. Two of the three antibody drugs used during past COVID-19 waves are ineffective against this variant. The third, sotrovimab, from GlaxoSmithKline, is in short supply from Pfizer Inc, that appears effective against Omicron. If you get sick, you might not have access to treatments. In fully vaccinated and boosted

Due to record numbers of infected patients, hospitals have had to postpone elective surgeries and cancer treatments. And during past surges, overwhelmed hospitals have been unable to properly treat other emergencies, such as heart attacks. Omicron is the fifth highly significant variant of the original SARS-COV-2, and it remains to be seen if the ability of the virus to mutate further will slow down. High infection rates also give the virus more opportunities to mutate, and there's no guarantee that a new version of coronavirus would be more benign than its predecessors. "SARS-CoV-2 has surprised us in many different ways over the past two years, and we have no way of predicting the evolutionary trajectory of this virus," Ho said.

SKODA KODIAQ FACELIFT SOLD OUT IN A DAY koda India announced the prices for the Kodiaq facelift on 10 January. The SUV has been launched in the country at a starting price of Rs 34.99 lakh (ex-showroom). Interestingly, within 24 hours of its launch, all units of the newly introduced Skoda Kodiaq facelift are sold out for the next four months. The SUV can be had in three variant options – Style, Sportline, and L&K. To learn more about variant-wise features, click here.

Mechanically, the 2022 Skoda Kodiaq is powered by a 2.0-litre, four-cylinder, TSI petrol engine that produces 187bhp and 320Nm of torque. This motor is paired to a seven-speed DSG automatic transmission sending power to all four wheels via the four-wheel-drive system. Some of the key feature highlights include a panoramic sunroof, eight-inch touchscreen infotainment system with 10 speakers, Apple CarPlay and Android Auto, 360-degree camera, three-zone climate control, a two-spoke steering wheel, 12-way electrically-adjustable front seats with cooling, heating, and memory functions, and more. To further strengthen its position in the Indian market, Skoda plans to launch six new models in the country this year. The new Skoda Slavia is set to arrive in showrooms next month.

HOW OBESITY INCREASES CANCER RISK besity increases the risk of developing more than a dozen types of cancer. A new study from the University of Bergen (UiB) in Norway can now answer why this is.

Cancer is caused by genetic changes that break down normal constraints on cell growth. It is known that obesity and overweight increases the risk of developing cancer, but the question until now has been why? Now, researchers at University of Bergen have demonstrated that lipids associated with obesity make cancer cells more aggressive and likely to form actual tumors. The researchers have discovered that the changed environment surrounding the cancerous cell, from a normal weight body to an overweight or obese body, pushes the cancer cell to adapt. This allows the malignant cells to form a tumor. Even in the absence of new gene mutations, obesity increases the risk that tumors will form." Obesity is the cause of approximately 500000 new cancer cases each year - a number that is expected to grow as obesity rates continues to increase. "To scientifically dissect how these two complicated diseases interact has been extremely interesting and rewarding. Especially as this new understanding will enable researchers to design improved treatments for obese cancer patients", Halberg adds.

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FINANCIAL

FINALLY, INDIA'S BAD BANK STARTS FOR GOOD INDIA'S 'BAD BANK' HAS RECEIVED ALL NECESSARY APPROVALS TO COMMENCE OPERATIONS AS PER SBI CHAIRMAN DINESH KHARA. BAD BANK WAS ANNOUNCED BY UNION FINANCE MINISTER NIRMAL SITHARAMAN IN LAST UNION BUDGET. THIS ENTITY WILL ABSORB THE BAD ASSETS OF BANKS ENABLING BANKS TO CLEAN UP THEIR BOOKS.

Dinesh Khara, the chairman of country's largest lender State Bank of India (SBI), said on January 28 that the proposed Bad Bank had received all necessary approvals to start operations. Public sector Banks will have a majority stake in the National Asset Reconstruction Company Limited (NARCL) while private banks will have a significant stake in India Debt Resolution Company Limited (IDRCL), Khara said. Bad Bank was announced by Union Finance Minister Nirmala Sitharaman in the last Union Budget. This entity will absorb the bad assets of banks enabling banks to clean up their books. In the initial phase, around 15 cases worth Rs 50,000 crore will be transferred to the proposed bad bank in this fiscal, Khara said. An estimated Rs 2 lakh crore worth bad assets is planned to transfer to the Bad Bank. “There were certain concerns being raised but eventually both entities have requisite approval,” Khara said. A total of 38 accounts with Rs 83,000 crore outstanding in total have been identified for transfer so far but some of these SEASONAL MAGAZINE

September 2021 to 8.1 percent by September 2022 under a baseline scenario and to 9.5 percent under a severe stress scenario, the Reserve Bank of India (RBI) said in its Financial Stability Report on December 29.

accounts have been resolved already, Khara said. As per the operational structure, NARCL will acquire and aggregate identified NPA accounts from banks while IDRCL will handle the debt resolution process. “This unique public-private partnership will bring benefit of aggregation, expertise to resolve stressed assets,” said Khara, adding he expects faster asset resolution to take place in the banking sector with the establishment of Bad Bank. Khara said while the initial estimate was Rs 2 lakh crore worth of assets will be transferred to the bad bank, some of the large cases were resolved sub subsequently. The Bad Bank was conceptualized with the objective of absorbing bad assets from public sector banks for a clean-up of the lenders’ balance sheets. Banks are weighed down by huge amounts of bad loans, or loans on which no interest or principal has been paid for over 90 days. Stress tests have revealed that banks' gross non-performing assets (GNPAs) may jump from 6.9 percent of assets in

If the current wave of COVID-19 led by the Omicron variant drags on, the figure could escalate. According to the plan, banks will receive 15 percent of the value of assets being transferred upfront in cash; 85 percent will be given as security receipts (SRs). If the debt resolution doesn’t happen within a fiveyear period, the government will have to pay banks against the SRs if the guarantee is invoked. Khara said he expects resolutions to happen faster with NARCL in place. Launch of bad bank is crucial for the banking sector if it leads to faster bad assets resolution. Banks need to set aside more money to cover bad loans known as provisions in banking industry jargon. The higher the provisions, the bigger is the pain felt by the bank - its profitability subsequently takes a hit. The bank will require more capital to plug the bad loan hole. A huge pile of bad loans on its balance sheet impairs the ability of a bank to extend fresh loans. When credit growth slows, as was the case to industries over the last few years, the economy suffers. This (economic slowdown and consequent job losses) further impacts the ability of companies and individuals to repay bank loans.

TECHNOLOGY

YOUR NEW HOME ADDRESS FROM GOOGLE GOOGLE MAPS WILL NOW LET INDIA USERS RELY ON ‘PLUS CODES’ WHEN SAVING AND SHARING THEIR HOME ADDRESSES. PLUS CODES INCLUDE A SET OF 6 OR 7 LETTERS AND NUMBERS ALONG WITH THE NAME OF THE TOWN OR CITY FOR THE PARTICULAR ADDRESS. THEY DO NOT RELY ON STREET AND LOCALITY NAMES, AND INSTEAD USE LATITUDES AND LONGITUDES. he Plus Codes feature was originally rolled out in India back in 2018. It has so far been extensively used by businesses, NGOs, etc, according to the company. The capability is now being extended to home addresses as well. “We piloted this feature in India a month ago, and are thrilled to share that over 300,000 users in India have already found their home address using Plus Codes. We are looking forward to expanding to more types of places, and are actively looking for opportunities to partner with e-commerce, logistics, and delivery companies, to scale up the experience to more people across the world,” said Amanda Bishop, Product Manager, Google Maps. According to Google, the feature is rolling out to Android first, and iOS will get the capability later on. Now, when someone is saving a ‘Home’ location on Google Maps, they will see a prompt asking them to “Use current location”. This will use their phone’s location to

generate a Plus Code, which they can then use as their Home address. Google has also added a section at the top of the ‘Saved’ tab to make it easier to retrieve, copy, and share these home addresses. “With a Plus Code, people can receive deliveries, access emergency and social services, or just help other people find them,” Google explains on its website. Google has also listed the advantages of using Plus Codes in a few key pointers. For one, the company says these are open-source and easy to use. They are much shorter than traditional global coordinates, so they’re easy to share as well. Plus Codes work whether one is online or offline. An internet connection is not needed at all times when creating a code, which is another advantage in India where mobile connectivity can be patchy at times. Further, Plus Codes are language independent. They do not include easily confused characters, are not casesensitive, and they exclude vowels.

WHATSAPP ADMINS TO GET POWERFUL IN WHAT IS SEEN AS THE FIRST OF THE MANY NEW FEATURES TO BE ROLLED OUT BY WHATSAPP THIS YEAR, THE MESSAGING PLATFORM WILL SOON LET GROUP ADMINISTRATORS DELETE ANYONE AND EVERYONE'S MESSAGES ON A GIVEN GROUP. WABETAINFO, A PORTAL THAT TRACKS THE UPCOMING UPDATES ON THE PLATFORM, TWEETED AN IMAGE OF THE SAID FEATURE RECENTLY.

"A good moderation, finally," the final line of the tweet read. Another feature was recently announced by WhatsApp for iOS users, allowing them to pause and resume voice notes and listen to them before they're sent to the recipient. Additionally, WhatsApp is also believed to be working on providing iOS users the option of transferring their chats between Android phones and iPhones. The possibility of deleting group members' messages is expected to pave the way for stricter moderation by adminstrators, with a clearer definition of the kind of content that is allowed or disallowed in a group. A series of new measures by WhatsApp – from reacting to messages with an emoji akin to Instagram to an increase in the time limit to delete messages – awaits users, as reported by different agencies. SEASONAL MAGAZINE

HEALTH

GUARD YOUR HEART HEALTH TO PROTECT YOUR BRAIN POWER

A NEW STUDY HAS SUGGESTED THAT SUBTLE CHANGES IN THE STRUCTURE AND THE DIASTOLIC FUNCTION OF A PERSON'S HEART BETWEEN EARLY ADULTHOOD AND MIDDLE AGE MAY BE ASSOCIATED WITH A DECLINE IN THINKING AND MEMORY SKILLS. greater than average increase from early to middle adulthood in the weight of a person's left ventricle was associated with lower midlife cognition on most tests.

he research was published in the online issue of 'Neurology', the medical journal of the American Academy of Neurology. The diastolic function of the heart is when it rests between beats and the chambers fill with blood.

Tests included a common dementia test that asked participants to do tasks like draw lines connecting alternating letters and numbers, and repeat five words, complete other tasks, and then repeat the same five words. Scores range from zero to 30 with 26 and higher representing normal cognition. Participants with a greater than average midlife increase in left ventricle weight had an average score of 22.7 while those without a greater than average increase in weight had an average score of 24.

"Cardiovascular risk factors such as high blood pressure, high cholesterol and diabetes have been associated with an increased risk for cognitive impairment, but much less is known about heart structure and function and the risks for cognition," said study author Laure Rouch, PharmD, PhD, of the University of California, San Francisco. "We followed young adults for 25 years into middle age and found declines in thinking and memory skills independent of these other risk factors. Our findings are of critical importance in the context of identifying potential early markers in the heart of increased risk for later-life cognitive decline. Such abnormalities are common and often underdiagnosed as they do not produce any obvious symptoms." The study looked at 2,653 people with an average age of 30. Participants had echocardiograms, ultrasound images of the heart, at the start of the study and again 20 and 25 years later. Echocardiograms are non-invasive and widely available. Researchers used the images to measure the following: the weight of the left ventricle, one of four chambers of the heart; the volume of the blood that filled the left ventricle when pumping; and how well the left ventricle pumped blood to the body, specifically the percentage of blood pumped out of the heart. Researchers found that, over 25 years, there was an average increase in the weight of the left ventricle of 0.27 grams per square meter per year (g/m2), with SEASONAL MAGAZINE

average weight of 81 g/m2 in the first year and 86 g/m2 in the last year. There was also an average increase in left atrial volume of 0.42 millilitres of blood per square meter (mL/m2) with average volume of 16 mL/m2 in the first year and 26 mL/m2 in the last year. In the last year of the study, participants were given six cognitive tests to measure thinking and memory skills including global cognition, processing speed, executive function, delayed verbal memory and verbal fluency. Tests included tasks like recalling words from a list 10 minutes after looking at the list, as well as substituting symbols for numbers using a key at the top of the page. After adjusting for factors like age, sex and education, researchers found that a

HOWEVER, A GREATER THAN AVERAGE DECREASE IN THE PERCENTAGE OF BLOOD PUMPED OUT OF THE LEFT VENTRICLE WAS NOT ASSOCIATED WITH COGNITION.

Researchers also found a greater than average increase from early to middle adulthood in left atrial volume was associated with lower midlife global cognition. However, a greater than average decrease in the percentage of blood pumped out of the left ventricle was not associated with cognition. "What is interesting is that our results were similar after adjusting for cardiovascular risk factors such as high blood pressure, diabetes, smoking and obesity," Rouch said. "As early as young adulthood, even before the occurrence of cardiovascular disease, there may be heart abnormalities that could be risk markers for lower thinking and memory skills in middle age. In the future, a single echocardiogram may help identify people at higher risk of cognitive impairment." Rouch said that future research should determine whether interventions to improve the structure and function of the heart could benefit brain health. She said, "The question of whether altered cardiac structure and function could be a risk factor for cognitive impairment has major public health implications and could reveal another important heartbrain connection."

GADGET

iPhone & iPad Users Better Get This Security Update! f you own an iPad or iPhone, you should get the latest iOS update right away. The latest update to iOS 15 and iPadOS 15 fixes security vulnerabilities affecting the Safari browser. If you own an iPad or iPhone, you should get the latest iOS update right away. Apple has released the iOS 15.3 and iPadOS 15.3 updates for all iPhones and iPads running the iOS 15 generation, fixing a crucial issue that raised alarm bells regarding data security and privacy. The update must be manually downloaded to your iPhone and iPad from the Settings menu. The main bug that this update fix is related to the Safari browser. Previously, it was found that hackers can take advantage of the bug and gain access to a user's browser history. Additionally, the error can also identify linked Google accounts. The issue has been identified in Safari for iOS, iPadOS, and macOS. The problem was not a big deal on macOS as users could use a different default browser. On iOS, however, users by default are directed to the Safari browser for all of their browsing needs. The update fixes the

vulnerability on the Mac along with iPhones and iPads. Along with the Safari vulnerability, Apple also released an update to fix iCloud sync issues. A report from 9To5 cites developers confirming that the issue has been fixed, though Apple did not give a reason behind it. If you want to download the iOS 15.3 and iPadOS 15.3 updates, you'll need to head into Settings and go to General. Look for the "Software Update" option. Your iPhone and iPad will automatically check for a new update. Once detected, you will be prompted to enter your password and give permission to download the update. After downloading the update, it will ask you to restart your device in order to install the update successfully. iOS 15 has had a rocky ride since its release late last year. Apple has been constantly fixing bugs and issues, and despite several releases, new issues continue to plague iPhones and iPads. Lately, some iPhone 13 units encountered a new "pink screen" bug whose reasons Apple can't explain. Prior to this, iPhone 13 users had experienced call drop issues, which were later resolved with an earlier iOS 15 patch.

BETTER.COM EMPLOYEES 'LEAVING IN DROVES' AFTER CEO WHO FIRED 900 RETURNS: REPORT Employees at US-based online mortgage lender Better.com are "leaving in droves" after Vishal Garg returned to the company as CEO after a break from full-time duties, TechCrunch reported. Garg had taken a leave of absence after criticism over firing 900 employees over a Zoom call in December 2021. An employee said Garg is paranoid about information being leaked to media.

INDIA NEEDS TO BE WARY OF IMPORTED INFLATION: ECONOMIC SURVEY

The Economic Survey 2021-22 has said that India needs to be wary of imported inflation, especially from elevated global energy prices. "India's CPI inflation stood at 5.6% year-on-year in December 2021 which is within the targeted tolerance band," it stated. "WPI, however, has been running in double-digits...This is partly due to base effects that will even out," the survey added.

CENTRE ON TRACK TO MEET FY22 FISCAL DEFICIT TARGET: ECONOMIC SURVEY

The Economic Survey 2021-22 said that India is on its way to meet the fiscal deficit target of FY22. Budget 2021 had set a target of 6.8% of FY22's GDP, a reduction of 240 basis points as compared to FY21's fiscal deficit of 9.2% of GDP. In FY22's first eight months, fiscal deficit amounted to 46.2% of the full-year target. SEASONAL MAGAZINE

IS FLOW, THE SECRET TO PERFORMANCE & HAPPINESS? RICHARD HUSKEY, ASSISTANT PROFESSOR OF COMMUNICATION AND COGNITIVE SCIENCE AT THE UNIVERSITY OF CALIFORNIA, DAVIS, EXPLORES THE MYSTERY BEHIND FLOW, A UNIQUE MINDLESS AND HAPPY STATE ACHIEVED BY PEAK PERFORMERS AND FOR THAT MATTER ANYONE, WHEN THEY SEEM TO DO SUPERHUMAN TASKS THEY LOVE WITH EASE. RESEARCH ALSO SHOWS THAT PEOPLE WITH MORE FLOW IN THEIR LIVES HAD A HIGHER SENSE OF WELL-BEING DURING THE COVID-19 PANDEMIC. SCIENTISTS ARE BEGINNING TO EXPLORE WHAT HAPPENS IN THE BRAIN DURING FLOW. ew years often come with new resolutions. Get back in shape. Read more. Make more time for friends and family. My list of resolutions might not look quite the same as yours, but each of our resolutions represents a plan for something new, or at least a little bit different. As you craft your resolutions, or look to set goals at any time in your life, I hope that you will add one that is also on my list: feel more flow. Psychologist Mihály Csíkszentmihályi’s research on flow started in the 1970s. He has called it the “secret to happiness.” Flow is a state of “optimal experience” that each of us can incorporate into our everyday lives. One characterized by immense joy that makes a life worth living. In the years since, researchers have gained a vast store of knowledge about what it is like to be in flow and how experiencing it is important for our overall mental health and well-being. In short, we are completely absorbed in a highly rewarding activity – and not in our inner monologues – when we feel flow. I am an assistant professor of communication and cognitive science, and I have been studying flow for the last 10 years. My research lab investigates what is happening in our brains when people experience flow. Our goal is to better understand how the experience happens and to make it easier for people to feel flow and its benefits. People often say flow is like “being in the zone.” Psychologists Jeanne Nakamura and Csíkszentmihályi SEASONAL MAGAZINE

describe it as something more. When people feel flow, they are in a state of intense concentration. Their thoughts are focused on an experience rather than on themselves. They lose a sense of time and feel as if there is a merging of their actions and their awareness. That they have control over the situation. That the experience is not physically or mentally taxing. Most importantly, flow is what researchers call an autotelic experience. Autotelic derives from two Greek words: autos (self) and telos (end or goal). Autotelic experiences are things that are worth doing in and of themselves. Researchers sometimes call these intrinsically rewarding experiences. Flow experiences are intrinsically rewarding. Flow occurs when a task’s challenge is balanced with one’s skill. In fact, both the task challenge and skill level have to be high. I often tell my students that they will not feel flow when they are doing the dishes. Most people are highly skilled dishwashers, and washing dishes is not a very challenging task. So when do people experience flow?

Csíkszentmihályi’s research in the 1970s focused on people doing tasks they enjoyed. He studied swimmers, music composers, chess players, dancers, mountain climbers and other athletes. He went on to study how people can find flow in more everyday experiences. I am an avid snowboarder, and I regularly feel flow on the mountain. Other people feel it by practicing yoga – not me, unfortunately! – by riding their bike, cooking or going for a run. So long as that task’s challenge is high, and so are your skills, you should be able to achieve flow. Researchers also know that people can experience flow by using interactive media, like playing a video game. In fact, Csíkszentmihályi said that “games are obvious flow activities, and play is the flow experience par excellence.” Video game developers are very familiar with the idea, and they think hard about how to design games so that players feel flow. Flow occurs when a task’s challenge – and one’s skills at the task – are both high. Earlier I said that Csíkszentmihályi called flow “the secret to happiness.” Why is that? For one thing, the experience can help people pursue their long-term goals. This is because research shows that taking a break to do something fun can help enhance one’s self-control, goal pursuit and well-being. So next time you are feeling like a guilty couch potato for playing a video game, remind yourself that you are actually doing something that can help set you up for long-term success and well-being. Importantly, quality – and not necessarily quantity – matters. Research

shows that spending a lot of time playing video games only has a very small influence on your overall well-being. Focus on finding games that help you feel flow, rather than on spending more time playing games.

make them feel flow. Research also shows that flow is associated with decreased activity in brain structures implicated in self-focus. This may help explain why feeling flow can help distract people from worry.

A recent study also shows that flow helps people stay resilient in the face of adversity. Part of this is because flow can help refocus thoughts away from something stressful to something enjoyable. In fact, studies have shown that experiencing flow can help guard against depression and burnout.

Weber, Jacob Fisher and I have developed a video game called Asteroid Impact to help us better study flow. In my own research, I have participants play Asteroid Impact while having their brain scanned. My work has shown that flow is associated with a specific brain network configuration that has low energy requirements. This may help explain why we do not experience flow as being physically or mentally demanding. I have also shown that, instead of maintaining one stable network configuration, the brain actually changes its network configuration during flow. This is important because rapid brain network reconfiguration helps people adapt to difficult tasks.

Research also shows that people who experienced stronger feelings of flow had better well-being during the COVID19 quarantine compared to people who had weaker experiences. This might be because feeling flow helped distract them from worrying. Researchers have been studying flow for nearly 50 years, but only recently have they begun to decipher what is going on in the brain during flow. One of my colleagues, media neuroscientist René Weber, has proposed that flow is associated with a specific brain-network configuration. Supporting Weber’s hypothesis, studies show that the experience is associated with activity in brain structures implicated in feeling reward and pursuing our goals. This may be one reason why flow feels so enjoyable and why people are so focused on tasks that

Right now, researchers do not know how brain responses associated with flow

RESEARCHERS HAVE BEEN STUDYING FLOW FOR NEARLY 50 YEARS, BUT ONLY RECENTLY HAVE THEY BEGUN TO DECIPHER WHAT IS GOING ON IN THE BRAIN DURING FLOW.

contribute to well-being. With very few exceptions, there is almost no research on how brain responses actually cause flow. Every neuroscience study I described earlier was correlational, not causal. Said differently, we can conclude that these brain responses are associated with flow. We cannot conclude that these brain responses cause flow. Researchers think the connection between flow and well-being has something to do with three things: suppressing brain activation in structures associated with thinking about ourselves, dampening activation in structures associated with negative thoughts, and increasing activation in rewardprocessing regions. I’d argue that testing this hypothesis is vital. Medical professionals have started to use video games in clinical applications to help treat attentiondeficit/hyperactivity disorder, or ADHD. Maybe one day a clinician will be able to help prescribe a Food and Drug Adminstration-approved video game to help bolster someone’s resilience or help them fight off depression. That is probably several years into the future, if it is even possible at all. Right now, I hope that you will resolve to find more flow in your everyday life. You may find that this helps you achieve your other resolutions, too.

(Credit: The Conversation) SEASONAL MAGAZINE

COVER STORY

WHY LIC IPO IS A NEVER BEFORE, NEVER AGAIN PUBLIC OFFERING LIC OF INDIA IS IN THE FINAL STAGES OF FILING DRHP FOR ITS IPO WHICH IS EXPECTED TO BE INDIA’S LARGEST AT AROUND RS. 1 LAKH CRORE FOR A VALUATION OF RS. 15 LAKH CRORE. WITH ASSETS OF $463 BILLION, LIFE INSURANCE CORPORATION OF INDIA IS LARGER THAN EVEN MANY BOOMING NATIONAL ECONOMIES LIKE ISRAEL, NORWAY, UAE, DENMARK, MALAYSIA, SINGAPORE & HONG KONG! UNBELIEVABLE? THEN WAIT TILL YOU HEAR THE FULL STORY. EVEN WITH SUCH WORLD-BEATING ASSETS, LIC OF INDIA IS LIKELY TO OFFER ITS IPO AT MODEST VALUATIONS, WHICH WILL SEE IT LISTING BEHIND INDIA’S MOST VALUABLE FIRM RELIANCE INDUSTRIES AND MAYBE EVEN BEHIND THE SECOND MOST VALUABLE TATA CONSULTANCY SERVICES. WHAT THIS MEANS IS THAT LIC IPO EVEN WHILE BEING INDIA’S LARGEST EVER, WON’T BE CHARGING A PREMIUM VALUATION COMMENSURATE WITH ITS MARKET LEADERSHIP BY WAY OF GROSS WRITTEN PREMIUM (GWP) MARKET SHARE OF 64.1% AND NEW BUSINESS PREMIUM (NBP) MARKET SHARE OF 66.2%. THIS IS LIKELY TO DRIVE INTENSE INVESTOR INTEREST, BOTH FROM RETAIL INVESTORS AND INSTITUTIONAL INVESTORS FROM INDIA AND ABROAD IN THIS ONCE-IN-A-LIFETIME KIND OF IPO, OF THIS LIFE INSURANCE AND EQUITY INVESTMENTS MAJOR, WHICH IS THE 5TH LARGEST LIFE INSURER IN THE WORLD BY GWP AND 10TH LARGEST BY ASSETS.

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LIC is not the first large-sized Government owned company to go for its IPO, with the likes of SBI and Coal India getting listed without much fanfare. Why then is it said that LIC IPO’s further details will be revealed by Finance Minister Nirmala Seetharaman herself in her upcoming budget speech? The investment world is slowly starting to appreciate what a different organization is Life Insurance Corporation of India. It is not only a life insurance and investments behemoth, but a grassroots level nation building organization like no other. During the 66 years of its existence, LIC has provided Rs. 55 lakh crores for the twelve five-year plans that created modern India. Apart from this, LIC has invested Rs. 36 lakh crores in Union and state government securities, bonds and development projects. It has also provided Rs. 28,605 crores as dividends to the Government. Despite all these contributions, the assets of LIC are worth more than Rs. 38 lakh crores, and it holds the highest quantity of land and fixed assets, after the Indian Railways. Capital for its subsidiaries like LIC Mutual Fund and LIC Housing Finance, and for emergency take-overs like in IDBI Bank, came from its internal funds and not any external debt or capital provider. What all these means is that LIC is a highly capital

LIC OF INDIA IS LIKELY TO OFFER ITS IPO AT MODEST VALUATIONS, WHICH WILL SEE IT LISTING BEHIND INDIA’S MOST VALUABLE FIRM RELIANCE INDUSTRIES AND MAYBE EVEN BEHIND THE SECOND MOST VALUABLE TATA CONSULTANCY SERVICES.

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efficient organization. But there is more to it than meets the eye. All these nation building contributions, dividends, asset creation, subsidiaries, buyouts etc have really happened on policyholders’ funds or reserves, which means the insurance and savings of crores of Indians are what really powered all these. But LIC has been an excellent caretaker of public’s funds, as it is the only life insurer in India which distributes 90-95% of its profits back as bonus to its policyholders. While the full details of LIC IPO are yet to be finalized and made public, as it is in the final stages of its DRHP filing, it is expected to happen in the first week of February. But most analysts have arrived at an approximate consensus regarding the broad contours of the offer. At around Rs. 1 lakh crore size, LIC’s IPO will be India’s largest ever, at a total valuation or market capitalization of around Rs. 15 lakh crore. With its embedded value likely to be around Rs. 4 lakh crore, LIC can target up to four times this figure, that is Rs. 16 lakh crore, but Government is likely to go in for only a Rs. 15 lakh crore valuation. From its side, LIC is leaving no stones unturned for the mega success of its IPO. Since around 20% of the mammoth issue will have to be taken up by foreign institutional investors, LIC is likely to include its December 2021 or Q3 results in its DRHP, as US regulations make it mandatory to include reporting periods within 135 days of IPO date. LIC has also gone all out with a public awareness campaign to ensure that its huge community of policyholders and insurance agents participate in this IPO. They are expected to have a reasonable discount while applying for the IPO, and to make this process smooth, customers are being encouraged to link their policies with their demat details. LIC’s huge size by way of customers, insurance agents, subsidiaries and associate companies, gives it some unique capabilities in new businesses. A recent case in point is its Credit Card subsidiary, LIC Card Services

LIC OF INDIA HAS TWIN ENGINES OF GROWTH – INSURANCE AND INVESTING – AND THESE ARE COMPLEMENTARY AND WHAT IS MORE IT IS A MARKET LEADER IN BOTH!

Ltd (LIC CSL) which though being in operation since 2008, decided to flex its muscles starting from last year. One reason is of course the newfound boom in credit card business since the pandemic struck. And the other, the acquisition of IDBI Bank by LIC which gave it a ready banking partner to grow its credit cards business! Now, the boom in credit cards also means it has become a field of cutthroat competition. Market leaders HDFC Bank, SBI Cards, ICICI Bank, as well as emerging players like IDFC First Bank, Axis Bank, Bajaj-RBL etc are fighting for both more customers and better quality customers. Where does LIC Card stand in this whole picture? That is where LIC’s might shines through. Last year it launched the Lumine and Eclat Cards which are co-branded Rupay Cards with IDBI Bank, which are made available free for all LIC policyholders and agents! Apart from all the features of competing credit cards from market leaders, LIC Credit Card comes with some unique features like lifetime free, double reward points if LIC premium is paid through the card, no processing or foreclosure fee for EMI conversion, and two free add-on cards for family members. Needless to say that with such features the Lumine and Eclat Credit Cards have been a huge hit in the LIC community of policyholders and agents, which is of course the largest such family anywhere in the world. LIC Card Services also has a premium Card that is also giving a stiff fight to such offerings from market leaders. The eligibility criteria to apply for an LIC Signature Credit Card is that candidates should hold a net income of Rs 15 SEASONAL MAGAZINE

lakh or above, per annum. The applicants need to produce their pay slip, showing a gross salary of Rs 1,25,000. It comes with MasterCard Lounge Access Programme across India and world, Complimentary Lost Card Liability Insurance, PlusPoints Rewards Programme, Cash Withdrawals, EMI Option, Fuel Surcharge Waiver, Easy Loans, Supplementary Cards, Balance Transfer etc

course is a huge advantage), but they are the overall market leaders or in other words what the overall market puts the maximum value on. Secondly, the largest investment funds in the world like mutual funds, pension funds, insurance companies and sovereign funds, can only invest in largecap stocks as midcaps and smallcaps can’t absorb their kind of huge funds.

When listed, LIC may prove to be the perfect opportunity that India has ever seen. This is because, while fortune is definitely at the bottom of the pyramid, but the companies which own this fortune are right at the topmost rung - the largest cap. Again and again this has been proved right, with the latest proof coming during and after the devastating pandemic and lockdown. Companies like Apple, Microsoft, Amazon, Reliance etc are the ones who created the most wealth after the pandemic hit.

Life Insurance Corporation of India, when listed is likely to have a market capitalization of Rs. 15 lakh crore, making it the second or third largest listed stock behind Reliance Industries and TCS. This is why the upcoming IPO of LIC is likely to be one of the most attractive stock market opportunities ever to hit the Indian bourses.

There are a few reasons for this. Firstly, largest cap stocks are not just their segment leaders (which of

AT RS. 1 LAKH CRORE, LIC IPO WILL BE INDIA’S LARGEST, AND VALUING THE LIFE INSURANCE MAJOR AT A MARKET CAP OF RS. 15 LAKH CRORE.

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LIC can also prove to be the perfect growth opportunity. Very few companies in India have consistently grown for more than half a century like LIC of India. Starting out in 1956 with Rs. 5 crore as capital, LIC has grown to one of India’s giants with nearly Rs. 32 lakh crore in asset base. And from just being a life insurance provider, LIC has become a financial services conglomerate with divisions, subsidiaries, or associate companies in banking, home finance, pension fund, mutual fund, and more. And during these 66 years, from being a national player, LIC has ventured out into being a global player with operations in 14 countries. And the beauty is that LIC is still growing at an unbelievable pace, as seen from the recent numbers.

LIC HAS BEEN AN EXCELLENT CARETAKER OF THE PUBLIC'S FUNDS, AS IT IS THE ONLY LIFE INSURER IN INDIA WHICH DISTRIBUTES 90-95% OF ITS PROFITS BACK AS BONUS TO ITS POLICYHOLDERS. LIC also has one of the best de-risked growth models, unlike most large-cap firms. Companies become largecaps owing to growth over many decades, but then growth may stall too. This is because, as the networth or shareholder equity surges with consistent growth in profits over the years, it becomes increasingly difficult for largecap companies to deliver a meaningful return on equity, despite reasonable growth and profitability. Most largecaps go through this phase and many get stalled for years there, until they figure a way out of it. But LIC of India is likely to have no such issues even after getting listed as one of the largest cap stocks in India due to at least two reasons. Firstly, it is still growing its core life insurance business at an admirable clip. Secondly, and this is the more important factor, it has a ready avenue to deploy surplus profits – the Indian equity market. And LIC’s rate of return from this activity is even ahead of its core insurance business and way ahead of the government bonds and bank fixed deposits where most largecap companies park their surplus cash. This twin engine growth model – insurance and

investments - is the greatest competitive edge that LIC would have in the market, post-listing. This is quite unlike most largecap companies, which do only one thing. Like, say, banks, steel manufacturers, cement makers, auto majors or paint companies – they do only one thing, but do it well. Some of them have an additional line of business, but it tends to be minor compared with their core activity. But LIC of India is in a different league altogether in this regard. It not only has dual lines of business – insurance and investing – but it is a market leader in both! And what is more, these are complementary activities. as mentioned earlier. But more needs to be said on these twin engines of growth at LIC. Insurance business, especially life insurance business, is a peculiar activity in that once customers are signed up each month for policies, there is a clear visibility on the kind of annual revenue from premiums that are going to flow in each year and each month. Also, there is a clear visibility on the normal payouts to customers on maturity of the policy. Even the claim settlements on death, which may seem to be a variable factor, is quite stable across years. Taken together, what these factors mean is that insurance companies, especially life firms, have a clear expectation of the cashflow which makes them capable of being large and systematic investors. Indeed, in India and the world over, insurance companies are among the largest institutional investors – either for themselves or for their insurance customers through equity linked products like Unit Linked Insurance Plans (ULIPS). Even in the crisis year of 2020, LIC has made an unbelievable profit of Rs. 13,000 crore from shortterm investments within a matter of 4-5 months, which is an all-time record for the insurer. LIC achieved this by following a contrarian investment principle, and leveraging its huge investment kitty. And LIC continues to be bullish on Indian equity and has earmarked an even greater pool of funds for market participation in 2022. Not many companies in India or even in the whole world are capable of such feats, as they lack such complementary twin engines as well as such risktaking abilities. LIC makes not only such hefty shortterm profits, but its core investments in stocks, especially in bluechip companies, are maintained at significant levels always. And even when LIC is on a selling spree, it is highly selective, and coupled with new buys, which ends up making its portfolio move up steadily. Which means LIC is a long-term and shortterm profit-maker in its equity business, which the market will find attractive when it goes for its IPO. SEASONAL MAGAZINE

TECHNOLOGY

GOVERNMENT TO HELP CREATE INDIGENOUS SMARTPHONE OS TO RIVAL ANDROID, IOS UNION MINISTER OF STATE FOR ELECTRONICS AND IT RAJEEV CHANDRASEKHAR SAID THAT THE GOVERNMENT WAS LOOKING AT A POLICY TO HELP CREATE A NEW SMARTPHONE OS.

what is that we have to achieve then all the policies and actions will be consistent with it," Chandrasekhar said. He along with Minister for Communications and IT Ashwani Vaishnaw released the second volume of Vision Document on Electronics Manufacturing prepared by the industry body ICEA whose members include Apple, Lava, Foxconn, Dixon etc. The document details a road map for achieving $300 billion (roughly Rs. 22,55,265 crore) electronics manufacturing in the country by 2026 from the current level of $75 billion (roughly Rs. 5,63,820 crore). "This report is very precise which talks about where USD 300 billion (roughly Rs. 22,55,265 crore) will come, what industry has to do and what the government needs to do. This is an example of how industry and government should set targets for the country. The manufacturing will be USD 300 billion and exports worth $120 billion (roughly Rs. 9,02,195 crore) will happen. This is the government of India's objective now," Chandrasekhar said.

he government is planning to come up with a policy that will facilitate an ecosystem for the industry to create an indigenous operating system as an alternative to Google's Android and Apple's iOS, Union Minister of State for Electronics and IT Rajeev Chandrasekhar said on Monday. At present, mobile phones are dominated by two operating systems Google's Android and Apple's iOS that are driving the hardware ecosystem as well, the minister told in an interview. "There is no third one. Therefore, in a lot of ways there is tremendous interest in MeitY and in the Government of India to even create a new handset operating system. We are talking to people. We are looking at a policy for that," Chandrasekhar said. He said that the government is looking for capabilities within start-up and academic ecosystems for development of an indigenous operating system (OS). SEASONAL MAGAZINE

The operating system is the main software of any computer and mobile device that weaves in the entire hardware and software system for effective functioning of the OS. "If there is some real capability then we will be very much interested in developing that area because that will create an alternative to iOS and Android which then an Indian brand can grow," Chandrasekhar said. The minister said that most of the policies and policy tools are being re-looked at in the context of reiamgining goals and ambitions. "Important is to have clear goals. Once we have clear goals and

AT PRESENT, MOBILE PHONES ARE DOMINATED BY TWO OPERATING SYSTEMS - GOOGLE'S ANDROID AND APPLE'S IOS THAT ARE DRIVING THE HARDWARE ECOSYSTEM AS WELL

At present, India's electronics export is around $15 billion (roughly Rs. 1,12,775 crore).

DELHI REPLACES BENGALURU AS STARTUP CAPITAL, ADDS 5,000 IN NEARLY 3 YEARS

The Economic Survey 2021-22 said that Delhi has replaced Bengaluru as the startup capital of India over the recent years. Between April 2019 to December 2021, 5,000 recognised startups were added in Delhi while 4,514 startups were added in Bengaluru, the survey stated. With a total of 11,308 startups, Maharashtra has the highest number of recognised startups.

SOFTWEARE

THE UPCOMING WINDOWS 11 UPDATE MAY RUN ANDROID APPS! AFTER A LONG PERIOD OF SPECULATION AND TESTING, WINDOWS 11 FINALLY GOT RELEASED IN OCTOBER 2021, AND IT'S LOOKING AWESOME SO FAR. WITH BIG UI CHANGES AS WELL AS UNDERLYING REVAMPS TO THE WAY WINDOWS WORKS, YOU COULD ARGUE IT'S WAY MORE THAN JUST THE "WINDOWS 10 RESKIN" SOME PEOPLE WERE EXPECTING.

have been some changes, naturally, but the way the app looks hasn't deviated much besides the usual Windows UI changes. However, a refreshed Notepad is coming in this future Windows 11 update, with bigger buttons, more easily accessible settings, and of course, a UI that looks just like everything around it. The core functionality is not changing, but the looks department is. (Oh, and it's also getting a dark mode; how cool is that?)

nd just like Windows 10, this new operating system will have frequent major updates adding new features or improving existing ones. The time is nearing for the first of such updates—and there's a lot of speculation making the rounds online about what will it bring. So what should we expect out of this upcoming update? Microsoft details all the upcoming changes on the Windows Experience blog, and one of the biggest changes in this upcoming major update is support for Android apps. After Windows 11 was announced, one of the most hyped features was the fact that Android apps would be natively supported via a "Windows Subsystem for Android," similar to the Linux subsystem currently used to run Linux apps on Windows. However, despite the fact that the feature was announced before the operating system's final release, it was nowhere to be seen at launch. Instead, as the final release of Windows 11 approached, Microsoft said that Android apps will be tested through the Windows Insider beta program "over the coming months."

Luckily, those who really want to try it out have been able to do so for months, as the feature did indeed launch in the beta program shortly after the final Windows 11 release. Now, it's all set to launch on the stable branch as soon as the first major update is out. Microsoft confirmed in a news piece that Windows 11 users all around the world will be able to finally get a taste of Android apps. You've been able to use Windows apps through emulators like BlueStacks, but this pretty much eliminates the need to do so for the most part. As exciting as they are, Android apps are not the only thing coming in that update. As per Microsoft's blog post, this future update might also come with a new lick of paint for two apps - Notepad and the Windows Media Player. Windows 11 has already added thorough redesigns of a lot of apps, including even older ones like Microsoft Paint and File Explorer, so it's just a matter of time until every little thing gets revamped. Until now, the Notepad app has looked largely the same since 1985, when Windows 1.0 was first launched. There

The Windows Media Player is also getting a revamp. The Media Player's functionality has been broken apart into several apps with the passing of time, like Groove Music and a Movies & TV app, but Windows 11 will see a revival of the Media Player. Right now, it has a Windows Vista-era UI with strong late 2000s vibes and features at the forefront that don't really matter much for this decade, like the ability to burn CDs. The new Media Player has a revamped UI and streamlined functionality that should do wonders to improve your local media consumption experience on Windows 11. Microsoft says that all of these changes and renewed experiences will be released next month, in February 2022. January is already closing, so it's good to see it won't be much longer. This should be the first of many more major updates to come to Windows 11, and we're really excited about it. With the new Windows 11 update on the horizon, it appears to feature the best of both worlds. Not only will we get the shiny new Android emulator natively built into Windows for the first time, but we'll also see makeovers for two of the old guard apps that have stuck around for decades now. Now it's just a case of waiting to see how the update shapes out. SEASONAL MAGAZINE

HEALTH If you are diagnosed with vitamin B12 deficiency after going through a blood test and evaluating the symptoms, it is important to treat the condition as early as possible. If treatment is delayed, vitamin B12 deficiency can trigger irreversible health problems like pernicious anaemia – an autoimmune state wherein the immune system attacks stomach cells to produce a protein that helps the body absorb vitamin B12. Majorly, people develop vitamin B12 deficiency by not getting enough of this nutrient in their diet. While majorly a vitamin B12 rich diet includes dairy, meat, eggs and fish, vegan people can get their share by either taking vitamin B12 supplements or eating foods fortified with this nutrient.

VITAMIN B12 DEFICIENCY IS COMMON AND HERE ARE THE MAIN SYMPTOMS TO WATCH FOR WHILE MILD VITAMIN B12 DEFICIENCY TRIGGERS SYMPTOMS THAT CAN GO UNNOTICED, LONG-TERM SEVERE DEFICIENCY CAN CAUSE DAMAGE TO NERVE CELLS. AND WHEN THIS HAPPENS, YOUR TOES AND FINGERS ARE LIKELY TO SHOW SOME SYMPTOMS. f you are diagnosed with vitamin B12 deficiency after going through a blood test and evaluating the symptoms, it is important to treat the condition as early as possible. If you are diagnosed with vitamin B12 deficiency after going through a blood test and evaluating the symptoms, it is important to treat the condition as early as possible. Eggs, dairy, salmon, trout, beef, sardines and animal liver and kidneys – these foods are a rich source of vitamin B12, a nutrient that fuels your body and safeguards it against a plethora of health problems ranging from immune system disorders like lupus to disorders of the digestive tract like Crohn’s disease. Vitamin B12 supports the nervous system, helps in making DNA; and its deficiency can trigger unsettling changes in the body. While mild vitamin 12 deficiency triggers symptoms that can go unnoticed, long-term severe deficiency SEASONAL MAGAZINE

As deficiency can trigger conditions like anaemia, experts recommend maintaining health levels of vitamin B12 in the body to dodge serious health woes. To keep a check on your vitamin B12 levels, go for regular blood tests and keep an eye on the telltale signs as well.

can cause damage to nerve cells. And when this happens, your toes and fingers are likely to show some symptoms. The symptoms of vitamin B12 deficiency The key telltale signs and symptoms of vitamin B12 deficiency include: Depression Poor or depleting mental ability Poor sense of balance Fatigue Memory problems Pale skin Difficulty in walking Mood changes Breathlessness Dizziness Disturbed vision Mouth ulcers Numbness is also a key symptom, and according to experts, if you are experiencing that sensation in the toes and hands frequently, it could hint at vitamin B12 deficiency. How to respond to vitamin B12 deficiency?

ISRAEL STARTS VACCINATING KIDS AGED 5-11 AMID RISING COVID CASES IN CHILDREN

Israel on Monday began rolling out coronavirus vaccines for children aged five to 11. The country is experiencing a "children's wave" with about half of the recently confirmed cases among children below the age of 11, Israeli PM Naftali Bennett said. Over 63% of Israel's population has been vaccinated against coronavirus so far, according to the Johns Hopkins University tracker.

NEWS-IN-FOCUS B'LURU COURT FRAMES CHARGES AGAINST 18 IN GAURI LANKESH MURDER CASE

700 KG OF FOUL-SMELLING KHOYA SEIZED AT 2 MARKETS IN DELHI AHEAD OF DIWALI

A special court in Bengaluru has framed charges against 18 people accused in the Gauri Lankesh murder case. Journalist Gauri Lankesh was shot dead in front of her house in the city's Rajarajeshwari on September 5, 2017. The accused have been charged under multiple sections of the Indian Penal Code, Arms Act and Karnataka Control of Organised Crimes

Ahead of Diwali, the Delhi government's Food Safety Department has seized 700 kg of foul-smelling 'khoya' (dairy product) during a surprise check at Mori Gate Khoya Mandi near Kashmere Gate and Sanjay Market near Chandni Chowk, officials said. While 200 kg khoya was seized from Mori Gate, 500 kg was seized from Sanjay Market. Khoya is used to prepare sweets.

GLACIER IN ANTARCTICA NAMED GLASGOW TO MARK UN'S COP26 SUMMIT

JAMMU & KASHMIR GETS ITS FIRST FLOATING THEATRE AT DAL LAKE

A glacier in Antarctica has been formally named 'Glasgow Glacier' by the University of Leeds' researchers to mark the United Nations (UN) climate summit, COP26, which is being held in Scotland's Glasgow. The glacier will provide "a stark reminder of why urgent action is needed", the UK government said. "Glasgow represents our best chance," UK PM Boris Johnson said.

Jammu and Kashmir got its first floating theatre in Dal Lake in a bid to attract tourism. The 1964 film 'Kashmir Ki Kali' starring Sharmila Tagore and Shammi Kapoor was screened at the theatre. A Shikara rally decorated with lights passed through Nehru Park to Kabootar Khana with local artists singing and dancing to Kashmiri songs to mark the occasion.

23 AUTO RICKSHAW STANDS TO BE SHUT IN PUNE TO EASE TRAFFIC CONGESTION

EVEN ALIA BHATT IS HERO IN RRR, THERE IS NO DISCRIMINATION: SS RAJAMOULI When asked why he cast only one heroine, Alia Bhatt, in his Telugu film 'RRR', and many heroes, filmmaker SS Rajamouli said that everyone is a hero and he does not believe in gender discrimination. He added, "There is no discrimination...Even Alia is a hero in this film." "This film is about the friendship between the four characters," he said.

8 CHINESE MILITARY PLANES ENTER TAIWAN'S AIR DEFENCE ZONE Eight Chinese military planes entered Taiwan's air defence zone on Sunday, the Taiwanese Defence Ministry said. Taiwan dispatched its planes to warn off the intruding Chinese aircraft, it added. Notably, this comes as US Secretary of State Antony Blinken and Chinese Foreign Minister Wang Yi traded warnings against moves that could further escalate tensions across the Taiwan Strait.

The Pune traffic police have decided to shut down 23 auto rickshaw stands in the city. "The immediate reason for their closure is the traffic chaos their presence causes on a particular road…from the security point of view too, they have been found unsuitable and unsafe," Deputy Commissioner of Police Rahul Shrirame said.

WILL RENAME MUMBAI-KARNATAKA REGION AS 'KITTUR KARNATAKA': CM BOMMAI Karnataka CM Basavaraj S Bommai on Monday said the Mumbai-Karnataka region would be renamed as 'Kittur Karnataka'. "There's no point in retaining the old name when border disputes often emerge," he added. Bommai has also promised to develop the standard of living in the region. "Regional imbalance and disparities must go and all the regions should grow together," Bommai said. SEASONAL MAGAZINE

NEWS-IN-FOCUS

TAKE HUMANITARIAN PATH: SUPREME COURT TELLS IIT-B TO CREATE SEAT FOR DALIT BOY

AMIT SHAH LAYS FOUNDATION STONE OF TRIBAL FREEDOM FIGHTERS MUSEUM IN MANIPUR

Home Minister Amit Shah on Monday virtually laid the foundation stone of the Rani Gaidinliu Tribal Freedom Fighters Museum in Manipur. Shah also paid tribute to Rani Gaidinliu and said she was "epitome of valour and courage". The Rani Gaidinliu museum will be set up at her birth place in Luangkao village in Tamenglong district of Manipur.

COMPLETE JAYPEE INFRATECH'S INSOLVENCY PROCEEDINGS IN 2 MONTHS: SC TO NCLT

The Supreme Court has directed the National Company Law Tribunal (NCLT) to complete Jaypee Infratech's insolvency proceedings within two months. SC was hearing a plea filed by homebuyers of the Jaypee Kensington Boulevard project in Noida. More than 20,000 flats were yet to be completed by Jaypee when the insolvency proceedings began for the firm in 2017.

3 PEOPLE ATTACK HOTEL MANAGER IN PUNE AS HE REFUSES TO SERVE THEM BIRYANI FOR FREE

GOVT WITHDRAWS SAFFRON DRESS OF RAMAYAN EXPRESS WAITERS, SHARES PICS OF NEW OUTFIT The Railways on Monday withdrew the saffron 'sadhu-like' outfit of the servers of the Ramayan Express train, which was protested by seers of Ujjain who had threatened to stop the train. It shared pictures of the new outfit which comprises shirts, pants and a headcover and said, "Inconvenience caused is regretted." Seers earlier said the saffron outfit "insulted" Hinduism.

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The Supreme Court on Monday told IIT Bombay to create an extra seat for a Dalit student who couldn't get admission because of technical errors in processing online fee payments. Calling Scheduled Caste student Prince Jaibir Singh's case "different", SC said, "Don't be wooden like this...Deal with him with a humanitarian approach...You cannot leave him in a lurch."

PARLIAMENTARY PANEL ADOPTS REPORT ON DATA PROTECTION BILL AMID DISSENT BY MPS

A Joint Parliamentary Committee on Monday adopted its draft report on the Personal Data Protection Bill, 2019, amid dissent from several opposition MPs, including those from the Congress, TMC and BJD. It will now be tabled in the upcoming Winter Session of Parliament. The report was adopted after almost two years of setting up the joint panel in December 2019.

Three persons allegedly attacked a hotel manager in Pune’s Hingne Khurd after he denied to give them a plate of biryani free-of-cost. Three persons came to the hotel on Saturday night and started a brawl with the manager, police said. They attacked him with a sharp weapon, damaged kitchen equipment and a computer and stole ?940 cash from the hotel.

SRM IS GROWING ITS ROOTS DEEP, AND MAKING ITS REACH GLOBAL

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SRM Group of Universities are growing and spreading their great roots into the communities and industries around them. Its flagship deemed university, SRM Institute of Science & Technology (SRMIST), near Chennai, continues to be a powerhouse in engineering and medical education and research, with over 600 companies offering more than 7000 placements this year to SRM students. SRMIST’s medical wing, SRM Medical College Hospital & Research Centre (SRM MCH&RC) had become internationally renowned as one of the select few centres for Covaxin trials, and has recently started a state-of-the-art Centre for Clinical Trials & Research as well as entering into tie-ups with pharma majors. The Group’s newest university, SRM University, Andhra Pradesh, is also scaling similar or even greater heights by achieving 100% placements for its maiden batch itself, and by starting two Centres of Excellence with industry majors like Titan’s Tanishq Division and Amara Raja Batteries. No wonder then that SRM is getting tie-ups and recognitions from the likes of Harvard & Stanford.

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tanford University needs no introduction, and when Stanford speaks, the world listens. Such has been the overall achievement level of this institution that, even while it is not part of the Ivy League, it boasts of real-world achievements that span not only academia and research, but the startup ecosystem. Stanford is indeed the cradle where some of the world’s greatest tech businesses were born. Stanford University had recently selected the top 2% of the world’s scientists in various sunrise fields including energy, biotechnology etc. Only 91 scientists were chosen worldwide for their research achievements in biotechnology, and Dr. Imran Pancha of SRM University, AP, was one among them. Dr. Pancha is a

WHEN STANFORD UNIVERSITY RECENTLY SELECTED THE TOP 2% OF THE WORLD’S SCIENTISTS, SRM-AP'S THREE PROFESSORS IN BIOTECHNOLOGY AND ENERGY WERE INCLUDED.

professor of SRM-AP’s Department of Biological Sciences, and had won this selection in 2020 too. Similarly, when Stanford selected 178 scientists as the top 2% of researchers excelling in energy and related fields, SRM University, AP, had two reasons to smile. Dr Karthik Rajendran and Dr Lakhveer Singh both from SRM-AP’s Department of Environmental Science made the rare cut. This goes on to say much about the diligence with which the SRM management and Vice-Chancellor Prof. VS Rao has been choosing faculty for this most promising new private

university in the Indian landscape. Prof. Rao himself is a distinguished researcher who made his mark in US and elsewhere, and made sure that 100% of faculty at SRM-AP should be PhD holders to start with. With such worldclass brains to teach and mentor students, it is no wonder really that SRM University, AP, is going great guns in placements too. While most private universities would struggle to place their first batches, SRM-AP had no issue recently in placing 100% of its students in its very first batch. The maiden convocation for BTech students of SRMAP was an unforgettable event that was simultaneously conducted physically and online, with renowned international figures like New York University’s President Prof. Andrew D Hamilton, and Dr. Sethuraman Panchanathan, Director of the US National Science Foundation (NSF) gracing the high-voltage event. The first batch of BTech students has received 100 percent placement with an average salary of Rs 7 Lakh per annum, which is a commendable record when compared to peers. The highest offers were for two Computer Science & Engineering students by PVP Inc., Japan, for Rs. 50 lakh per annum. And it was not only about career placements. SRM-AP students also excelled in academic placements, with as many as 24 students opting for higher studies in top universities including University of Michigan, New York University, Georgia Tech, and King's College London (Madison Campus). The SRM Andhra Pradesh Convocation was also attended by Chancellor Dr T R Paarivendhar, who is also a Member of Parliament, and President Dr P Sathyanarayanan. These leaders have come to exemplify the unique vision behind SRM University, AP, as well as the other older and larger institutions in their stable, especially SRM Institute of Science & Technology (SRMIST), a deemed university near Chennai with multiple

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campuses, which was earlier named SRM University. Earlier in the year, students of the SRM Institute of Science and Technology received over 7,111 job offers during the placement season for 2020-21. At least 600 companies participated in the placement process despite the pandemic situation, thereby revealing how companies don’t want to miss the SRMIST talent pool. The participating companies included IT and engineering firms from both India and abroad. Bengaluru-based WorkIndia Information Technology and Services made the highest offer at ?35 lakh a year. Students from SRMIST campuses in Modinagar, Ramapuram and Vadapalani participated, and as many as 2,000 offers with ?10 lakh a year and ?5 lakh a year remuneration were made. The largest number of recruitments were by India born international IT giants Cognizant, TCS, Wipro and Infosys. SRMIST has been achieving such placements year after year, and that is why when the SRM Group started a new university in Andhra Pradesh, it was armed with a wealth of experience on how to train and groom students to be fit enough to be chosen by world-class Indian and multinational companies. However, being a greenfield project, SRM-AP also brings in several new innovations by itself to emerge as one of the top universities in the world.

Dr. P. Sathyanarayanan Harvard Business School Online, Australia’s Lindus University, Taiwan’s Asia University, CSIR’s Indian Institute of Chemical Technology (CSIR-IICT). With IICT, the university has plans to pursue frontline chemicals research. SRM University, AP, has also tied up for niche knowledge transfer with Titan’s Tanishq division and Amara Raja Batteries.

For instance, during the last 3 years, SRMAP faculty members have published over 700 research papers in scopus indexed journals such as Nature, Nature Communications and other such reputed

research publications. Despite its young age, SRM-AP is a powerhouse in research achievements. The faculty is already working on 42 funded research projects with an outlay of Rs 20.13 crores funded by the Indian government and various industry giants. 42 patents have been filed, 32 published and three granted in the past 3 years symbolizing the momentum and brilliance of research here. This year alone faculty from the Engineering and Science departments have been granted six DST SERB projects and Ramanujan fellowships. The university has also signed agreements with various educational institutions, research and industrial establishments in India and across the world. These include

Dr Imran Pancha

Dr Lakhveer Singh

Dr Karthik Rajendran

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Healthcare is one field were SRM Group continues to make great inroads. SRMIST is home to a world-class medical college and its teaching hospital, SRM Medical College Hospital and Research Centre (SRM MCH&RC). Recently, the School of Public Health (SPH) at SRM Institute of Science and Technology (SRMIST),

SRM INSTITUTE OF SCIENCE AND TECHNOLOGY HAS RECEIVED OVER 7,111 JOB OFFERS DURING THE PLACEMENT SEASON FROM OVER 600 COMPANIES ACROSS INDIA AND ABROAD. and Research Centre (SRM MCH&RC), and will function as a clinical trial research center capable of handling clinical trials of drugs, vaccines, and medical devices. The facility has two wards with 12 beds and several rooms for sample collection, processing, data documentation, and monitoring. It has state-of-the-art equipment for preserving serum samples at -80 degrees Celsius and -20 degrees Celsius deep freezers, high-speed centrifuge, facilities for electronic data capture with high-speed internet, thermohygrometers, and data security is maintained with controlled access.

Ravi Pachamoothoo

With such new infrastructure in place,

SRM MCH&RC which has already come in 46th position in research, is likely to better its ranking. Students and faculty can do any type of clinical trials at this centre like the recent COVAXIN trial done here. The hospital was earlier awarded the clinical trial of COVAXIN, and for that there was a requirement for a virology lab, which was met by SRM itself by developing a world-class lab that was done entirely in-house. The SRM Centre for Clinical Trials & Research is headed by Professor of Pharmacology Dr. Satyajit Mohapatra, and supported by a team of investigators from all major branches of medicine including Clinical Pharmacology, General Medicine, General Surgery,

Kattankulathur, celebrated the successful completion and dissemination of the key findings of the National Family Health Survey (NFHS -5) for the state of Tamil Nadu and Puducherry at (SRM MCH&RC). NFHS-5, the fifth in the NFHS rounds, provides information on population, health, and nutrition for India and each of its states/union territories (UT) and also provides data at the district Level. NFHS5 includes some new topics, such as preschool education, disability, access to a toilet facility, death registration, menstrual hygiene etc. The scope of clinical, anthropometric, and biochemical testing (CAB) has also been extended to include measurement of waist and hip circumferences and the age range for the measurement of blood pressure and blood glucose has been expanded. The SRM Group continues to push its research initiatives in all domains, and especially in the medical field. SRM Institute of Science and Technology (SRMIST), through its Faculty of Medical & Health Sciences had recently set up a 5000 square feet Research Facility in SRM called the ‘Centre for Clinical Trials & Research’. This world-class facility is located at SRM Medical College Hospital

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Obstetrics & Gynecology, Pediatrics, Cardiology, Pulmonary Medicine, Nephrology, Anesthesia & Critical Medicine, Dermatology etc. The same team had earlier successfully conducted the COVAXIN Clinical Trials (Phase 1, 2 and 3), making SRM MCH&RC the only hospital in Tamil Nadu which successfully undertook it. During the last ten years when SRM MCH&RC started focusing more on research, over 35 sponsored and academic clinical trials have been done here. Grants have been obtained from various funding agencies such as ICMR, BIRAC, DBT, DHR-ICMR National, and International Pharmaceutical companies such as Sanofi-GSK, Genova Pharmaceuticals etc to carry out these research activities. The competency-based MBBS curriculum being followed at present in SRM MCH&RC gives the student exposure to Clinical Research in the prefinal year. Students can choose it as an elective subject, and they get exposure to the current Clinical Research and Trials in this Centre. And it is not only in medicine, but in all fields including engineering and material science that SRM Group of Universities are making great R&D strides. Recently, two Centres of Excellence was started at SRM University, AP, which was inaugurated by Dr. VK Saraswat, Member, Niti Aayog. Established to promote translational research, the first one is SRM SEASONAL MAGAZINE

Amara Raja Centre for Energy Storage Devices, which has been set up in collaboration with Amara Raja Batteries Limited, Tirupati, with the objective of application-oriented research in renewable energy and e-mobility. The second CoEx is the Centre for Pioneering Studies in Gold & Silver, which is a flagship R&D project with Titan Company Ltd (Tanishq Division) to

UNLIKE MOST OF ITS PEERS, THE VERY FIRST BATCH OF BTECH STUDENTS AT SRM-AP HAS RECEIVED 100 PERCENT PLACEMENT WITH AN AVERAGE SALARY OF RS 7 LAKH PER ANNUM, WITH TOP TWO OFFERS AT RS. 50 LAKHS.

develop novel gold alloy for contemporary jewellery design. The centre also aims to work on projects in collaboration with Waman Hari Pethe & Sons, Mumbai, and other jewellery manufacturers across India to produce high strength 22 Karat gold and to develop tarnish free silver alloys. During his visit, Dr. Saraswat also proposed to develop a Value Addition Centre in SRM University-AP to promote translational research. The centre would be strengthening the relationship between industry and academia to work on product engineering to deliver market relevant products. With several such initiatives in place, it is no wonder that this young university from the SRM stable is already home to 4,500 students and 180 faculty members, from all across the globe.

INNOVATION

Microsoft CEO Nadella Says

in a virtual environment, say a virtual office space, simply by plugging into the virtual reality headset like Facebook’s Oculus or Microsoft’s HoloLens. This capability is powered by the Mesh, a virtual collaboration tool launched in March 2021, and will be launched in 2022.

SPEAKING AT MICROSOFT IGNITE 2021 CONFERENCE ON NOVEMBER 2, CEO SATYA NADELLA, SAID, “IT IS NO LONGER JUST LOOKING AT A CAMERA VIEW OF A FACTORY FLOOR, YOU CAN BE ON THE FLOOR. IT'S NO LONGER JUST VIDEO CONFERENCING WITH COLLEAGUES, YOU CAN BE WITH THEM IN THE SAME ROOM. IT'S NO LONGER JUST PLAYING A GAME WITH FRIENDS, YOU CAN BE IN THE GAME WITH THEM.”

Using Mesh enterprises can also create immersive experiences like a virtual campus, like IT major Accenture has done. The virtual campus called One Accenture Park is where new hires onboarded virtually can meet in digital avatars and personally connect, conduct meetings or just have parties.

METAVERSE IS A BREAKTHROUGH THAT CAN'T BE OVERSTATED

The idea is similar to that of Facebook. Both companies have been investing in virtual and augmented reality. Meta Reality Labs’ Oculus and Horizon Worlds, and Microsoft’s Mesh and HoloLens are technologies that would be powering the companies’ metaverse ambitions. Nadella said, “For years, we have talked about creating this digital representation of the world. But now we actually have the opportunity to go into that world and participate in it.” “We are taking these platform capabilities, and building them into our own first-party applications like teams, features like grid views together more and presented more than teams mark the beginning of bringing to the immersive experiences to collaboration. But human presence is the ultimate connection. When you and I can have a meeting, where we are all present together without actually being physically present,” explained Nadella.

fter Facebook rebranded itself as Meta last week, software major Microsoft Corp is now gearing up for its metaverse play, where its consumers can interact and collaborate in 3D digital avatars in offices, or on shop floors – in the metaverse. Speaking at Microsoft Ignite 2021 conference on November 2, CEO Satya Nadella, said, “I can't overstate how

much of a breakthrough this is. It's no longer just looking at a camera view of a factory floor, you can be on the floor. It's no longer just video conferencing with colleagues, you can be with them in the same room. It's no longer just playing a game with friends, you can be in the game with them.” This would be possible through Teams, the firm’s videoconferencing platform, where people can create their own digital avatars and interact/collaborate

According to him, metaverse is not just transforming how we see the world but also how all of us actively participate in it. “What we have shown you today is only the beginning. Our economy and our society are undergoing a sea change of digitisation across every industry sector. We are emerging into a new era where you and the invaluable work you do will be more necessary than ever. And we are building the Microsoft Cloud to help you accelerate into this new world,” he added. SEASONAL MAGAZINE

COVER STORY

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NEW INDIA ASSURANCE

DESPITE SHORT TERM CHALLENGES, LONG TERM OPPORTUNITY IS INTACT Being India’s largest non-life insurer is no easy task during economic crises, epidemics and natural disasters. And what if all these three crises come rolled into one extended and mega crisis? That is what the Covd-19 pandemic has been for New India Assurance (NIA), India’s largest nonlife insurer. Because, as the leading non-life insurer it dominates in segments like health, motor & other general insurance segments, all of which have been severely affected by either high claims like in health or in low growth like in auto and most general insurance segments. The performance of NIA should be analyzed in this backdrop, and then we will realize that this segment leader is indeed a strong and resilient performer.

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DESPITE SHORT TERM CHALLENGES, LONG TERM OPPORTUNITY IS INTACT rigadier LS Lidder who died along with India’s CDS Gen. Bipin Rawat, in the tragic helicopter accident in Tamil Nadu recently had his personal accident policy with New India Assurance. When NIA was notified of the claim intimation, all it took for the insurance giant to settle this Rs. 30 lakh claim was one hour! Says NIA Chairman & Managing Director Atul Sahai, “Our office swung into action immediately on receipt of the claim intimation from our partner bank at 2 PM on December 10. The personal accident claim of Rs. 30 lakh was paid within one hour.” This incident speaks volumes about the agility of NIA which is unmatched among its PSU and private peers. New India Assurance is India’s strongest and the only listed public sector insurer, and hence its financial results are eagerly awaited, as it also serves as a barometer of the entire non-life industry. Its recently published Q2 numbers were of course a mixed-bag due to the ongoing Covid-19 pandemic. Consolidated quarterly net profit was down by 77% compared with Q2 of last fiscal, while sequentially it improved by around 43% from Q1 of this fiscal, largely due to the low base effect. This fall in profitability was not really surprising as the extent of Covid-19 claims in Q2 reveals. After paying about Rs. 1250 crore in Covid claims in Q1, NIA paid around Rs. 1100 crore in such pandemic claims in the second quarter. Altogether, NIA has thus settled more than 3.1 lakh Covid claims worth Rs. 2350 crore in the first half of this fiscal, which is a feat unmatched by any other general or health insurer in the country. Now, the issue is that being a listed player, the market has an immediate tendency to take this as a negative development. But what is this really? This is what insurance business is all about. Customers pay significantly from their hard earned money for insuring their assets like health and other belongings in the hope that if some untoward incident happens, the insurer SEASONAL MAGAZINE

will reimburse the required expense fast and fully. That is what NIA too did in the most judicious manner. When investors invest in general & health insurance companies, they should be aware of this occasional risk. But the problem is that there may be a few private non-life insurers who contested each and every health claim during Covid. They might have succeeded for the moment in limiting Covid claims or claim amounts or both, much to the delight of the market. But is that what a genuine general or health insurance company should be doing? Never expect a public sector insurer like NIA which is proud to play its part in nation building to stoop to such levels. Listen to what NIA Chairman & Managing Director Atul Sahai said about this, “While the company did have a negative impact on profits due to Covid claims, it gives me immense satisfaction that the company could play a major role in providing the necessary financial support to our valuable policyholders during this period.” This is what genuine health insurance is all about! Now, what some private insurers and market participants should understand is that this makes immense business sense too. That is, immense long-term business sense. When NIA paid such claims fairly and expeditiously, they were cementing customer relations for entire lifetimes or across generations. Such customers wouldn’t shift away from NIA ever, whatever lure some new players deploy to win them over. And that is not all there is to it. Will you continue with a private insurer who contested your health claim, to avoid it or trim it, when you were stricken

“OUR OFFICE SWUNG INTO ACTION IMMEDIATELY ON RECEIPT OF THE CLAIM INTIMATION FROM OUR PARTNER BANK AT 2 PM ON DECEMBER 10. THE PERSONAL ACCIDENT CLAIM OF RS. 30 LAKH WAS PAID WITHIN ONE HOUR.”

with Covid? Absolutely not! You will shift from their insurance at the very next chance. Even if you were not directly affected, but just heard about a relative or acquaintance who suffered like this from your insurer, you will shift away from them at the next chance. And where will you shift to? Of course, to the largest and strongest non-life insurer out there, NIA, or some of its PSU peers. That is why NIA’s genuine move will eventually prove to be a good business strategy too. In fact, Covid or no Covid, NIA has always followed such genuine strategies, which continued to reflect well in Q2. When it comes to business growth, the Company grew at around 20% compared to the industry growth of around 13%. And good news is that Covid claims are already tapering in this ongoing quarter of Q3. But the operating environment may continue to remain challenging for all non-life insurers including NIA as the

“WHILE THE COMPANY DID HAVE A NEGATIVE IMPACT ON PROFITS DUE TO COVID CLAIMS, IT GIVES ME IMMENSE SATISFACTION THAT THE COMPANY COULD PLAY A MAJOR ROLE IN PROVIDING THE NECESSARY FINANCIAL SUPPORT TO OUR VALUABLE POLICYHOLDERS DURING THIS PERIOD.”

nature of some non-Covid losses in Q2 reveal. The insurer suffered significant CAT losses (due to catastrophes) during the quarter. The company has claims of about Rs. 235 crore on account of floods in the state of Maharashtra. This is in addition to the CAT losses in the first quarter, of about Rs. 200 crores. The overseas operations too were negatively impacted due to CAT losses of about Rs. 60 crore on account of floods in Germany and hurricane Ida in US. It should be noted that such losses happen because NIA is not just a leader in India but has general insurance business in 28 countries across the globe. And since India is getting back to normal, motor claims too have also started rising as vehicular traffic comes back on the roads. But the big picture is that despite all these past, present & future challenges, NIA has continued to show considerable resilience as a stable, profitable and growing insurance player. NIA’s net worth has increased from Rs. 36,451

Brigadier LS Lidder crore in March 2021 to Rs. 39,921 crore as of 30th Sep 2021. The company is continually becoming more and more efficient operationally, as seen from the lower operating expenses. Another big strength at the Mumbai headquartered general insurance giant is its sizeable investment business. A leading player in the equity investment scene in India, NIA’s investment assets have gone up from Rs. 68,639 crore in March 2021 to Rs 82,001 crore as of

September 30, largely due to its judicious investment in Indian equities as well as the unprecedented bull market. The NIA stock has been unable to perform significantly since its IPO days, but then it should be understood that this is because soon after its IPO the sector entered a rare cyclical down phase. Who could have predicted something like this pandemic? But what shouldn’t be forgotten is that insurance is a unique long-term business, which adds value over the years and decades, as invariably the periods of no-claims or little claims will be much higher than the rare periods of high claims.

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TOURISM

TAMIL NADU TOURISM

INDIA’S TOURISM LEADER IS BACK WITH MORE OFFERINGS

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Tamil Nadu has always been India's frontrunner in both domestic and inbound tourism. Then came the pandemic which inevitably took its toll on the tourism sector across India and the world, including in Tamil Nadu as its crown jewels like the hill stations in Nilgiris went in for lockdown. Meanwhile, Tamil Nadu which had a landmark leadership change and is now under the very different management style of the new Chief Minister MK Stalin, is not only opening up its entire tourism infrastructure, but creating a brand new experience by using this opportunity to overhaul the entire tourism sector in the state. Assisting CM Stalin ably in this endeavour is the young Tourism Minister Dr. M. Mathiventhan, who incidentally is a postgraduate medical doctor, who made sure that 100% of people in Hill Stations were doubly vaccinated before opening

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At the heart of Tamil Nadu Government’s efforts to overhaul the entire tourism sector in the state is a new Tourism Policy and a Master Plan to spearhead it. The state which is noted for its numerous tourist destinations, will focus on improving the infrastructure at 300 such sites initially, as part of this Master Plan. The highlight of the new Tamil Nadu Tourism Policy will be that it will offer industry status to Tourism. Delving into the finer details of the Master Plan it is clear that the objective is not just national leadership but for bringing up the state’s tourism infrastructure to world-class standards. Keeping in mind the increasingly younger age of domestic and international travellers, focus will be on creating attractive propositions for them like adventure tourism. Chennai’s famed Marina Beach will soon have recreational activities like wind sailing, jet boat and motorboat rides. Much focus is also being given to developing and promoting ecocamping sites that are a big draw for Rameswaram

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Marina Beach

Megamalai

youthful visitors. At the same time, in order to protect the ecology of its prized destinations, new guidelines would be formulated to regulate caravan operators and those leading trekkers and hikers to such campsites. Since the tourism sector is eyeing exponential growth now, it will require certified professionals too. For this, the Department of Tourism is joining hands with the Tamil Nadu Skill Development Corporation, to introduce a tourism & hospitality skill development and certification programme. Much of the revenue and profits in the tourism sector hinge on attracting high value customers who don’t mind spending extra bucks for a superior experience. To tap such opportunities, the Master Plan has envisaged helicopter services between key tourist spots in the state like Rameswaram, Madurai and Kodaikanal. Towards this, the government will set up several helipads. Many of the sites included in the new Master Plan are relatively lesser known destinations. The aim is to implement precisely what kind of tourism will work in each such location. For example, rural and plantation tourism would be encouraged at Megamalai and Kanniyakumari, apart from

Kodaikanal

at Udhagamandalam & Kodaikkanal., Likewise, various heritage sites at Poompuhar would be developed as per the Master Plan. A key organization spearheading Tamil Nadu’s tourism initiatives has been the Tamil Nadu Tourism Development Corporation. The fully government owned TTDC has now completed 50 years of illustrious service to the state. And the new government and tourism minister has decided that it is time for a full revamp of TTDC. As TTDC offers many well-known and many little-known hospitality services, the effort will be to market them well. Towards this, all sitable TTDC services would be now marketed through national and international tourism aggregator portals like MakeMyTrip, Yatra and Goibibo. TTDC is also being restructured to make it even more efficient and effective, and for this the services of private sector consultants will be taken. Cooperation with private sector will be mutually rewarding and the government will launch Tourism Awards for best-performing SEASONAL MAGAZINE

Kanniyakumari

Yercaud hoteliers, tour operators, forex companies, travel agents and restaurant owners. Once tourists from India and abroad arrive at a large destination like Tamil Nadu, one of their main lookout would be how to travel around the state to its smaller destinations. This is not only in terms of the ease of travel but the variety of experiences. The state has awakened to this possibility and it is now mulling the feasibility of ship and boat services between tourist spots wherever feasible, considering Tamil Nadu’s long coastline and rivers. The possibility of operating cable-cars to hill stations and spiritual destinations is also being studied. SEASONAL MAGAZINE

Madhura Meenakshi Temple

At the ground level, tourist flow has been steadily growing ever since Tamil Nadu opened up its hill stations in Nilgiris like Ooty, Coonoor, Yercaud & Kodaikanal in late August. The several parks, gardens, boat rides and boat houses in these destinations, which were closed for between one year to four months were reopened to much cheer by the tourists and tourism industry. What began as a trickle is soon on its way to become a deluge as revenge tourism is gathering pace all across India and the world. While other states may envy Tamil Nadu for its rapid opening up, the fact is that this has happened with much preparation. One hundred percent people in the Nilgiri Hill Stations have been given double vaccination for Covid-19 before making this move!

Botanical Gardens, Ooty

The tourism department is also cooperating closely with the forest department for the promotion of ecotourism on a large scale. The forest department has already identified five eco-tourism projects in the state, which will generate revenue for both the forest and tourism departments as the potential for trekking and ecotourism is high in the country. Though Tamil Nadu had trekking activities since the past 10 years, it was at a minimum level until now. As part of the new eco-tourism initiative, Tamil Nadu will offer ecotourism packages which include trekking, jungle safaris, guided tours, and adventure tours with the support of the forest and tourism departments. According to industry experts, trekking and jungle tourism is not growing effectively in India as international trekkers are concerned about the safety aspect. This will change in Tamil Nadu now with the joining of forces of tourism and forest departments. Tamil Nadu is also embarking on an ambitious plan, as announced in the budget, to get its beaches cleaned up for the international Blue Flag certification. Tamil Nadu Tourism Department has kick started this ecofriendly beach policy Mudaliyarkuppam, a popular lagoon and a weekend destination close to Chennai along the serene East Coast Road. Including Marina Beach, nine other coastal stretches in the state will vie for the coveted Blue Flag certification, for which Rs. 100 crore will be spent.

Coonoor SEASONAL MAGAZINE

INVESTING

CRYPTO MAJORS BTC & ETH SET TO DOUBLE, HUGE DEMAND IN JOBS FOR CRYPTO SPECIALISTS TWO OF THE BIGGEST CRYPTOCURRENCIES IN THE CRYPTO MARKET ARE SET TO DOUBLE IN VALUE THIS YEAR, ACCORDING TO ANALYSTS. BITCOIN AND ETHEREUM ARE SET TO DOUBLE THEIR PRICE BY YEAR-END.

correlation to inflation. According to the banking behemoth, cryptocurrencies have traded in-line with inflation breaks the difference between the yield of a nominal bond and an inflation-linked bond of the same maturity - since 2019. “It has tracked inflation markets particularly closely, likely reflecting the pro-cyclical nature as a ‘network based’ asset. And the lastest spike in inflation breakevens suggests upside risk if the leading relationship of recent episodes was to hold (grey circles),” said the note. According to an analysis by blockchain data firm Kaiko, Ethereum has offered higher returns than Bitcoin with respect to market risk over the past one year. As compared to this time last year, the cryptocurrency’s price is up by 1,000% — leaving not just Bitcoin, but other major cryptocurrencies, in the dust.

The rally for Bitcoin is predicted to stem from more ETFs coming into the market, giving the cryptocurrency more legitimacy as an investment asset. Goldman Sachs pegs Ethereum to hit $8,000, in-line with breakeven inflation. After hitting a new all-time high in October, analysts are betting on Ethereum and Bitcoin to double in value before the end of year. The analyst behind Plan B, who correctly predicted the price of Bitcoin in September and came very close in October, believes that Bitcoin will reach $98,000 this month itself and go on to breach $135,000 in December.

by year-end - higher than what a recent panel of 50 cryptocurrency experts, put together by Finder, predicted at $5,000. After the first ever Bitcoin-based exchange traded fund (ETF) hit the New York Stock Exchange (NYSE), the money from institutional investors has been flooding in. According to CoinShare’s weekly report, crypto investment products saw inflows of $288 million for the week ending on October 31 - Bitcoin accounted for 93% of it at $269 million.

The rally in Ethereum has been aided by the growth of decentralised finance (DeFi), which is touted for its probable disruption of the international monetary system by eliminating the need for middlemen like banks, remittance providers and other players. Moreover, the boom in nonfungible tokens (NFTs) has all seen a host of new projects use ether and jump onto the Ethereum blockchain. Ethereum’s protocol is currently in the midst of an upgrade from the proof-ofwork (PoW) to the proof-of-stake (PoS) consensus method, which is expected to reduce the energy consumed for mining by 99%.

This is in-line with other price predictions for Bitcoin that banking on the world’s oldest cryptocurrency. Standard Chartered, for instance, pegs that Bitcoin will hit $100,000 in 2021 or early 2022.

The cryptocurrency, which turned 13 years old on October 31, is up by 112% this year so far and hit the all-time high of $67,000 in October. Analysts expect the cryptocurrency to rise further with more ETFs coming in, giving a boost to Bitcoin’s legitimacy at least as an investment asset, not an actual medium of exchange.

Meanwhile, global investment bank, Goldman Sachs, estimates that Ethereum’s price is set to reach $8,000

Ethereum’s growth trajectory is not without its challenges. The time taken for the community to agree on the upgrade left opportunity for other blockchains to pop up - like Cardano, Solana, Polkadot and others - each claiming to solve either for high transaction fees, energy consumption or transaction times.

Goldman Sachs' prediction for Ethereum to breach $8,000 is based on the secondlargest cryptocurrency’s historical

Some of the participants in Finder’s panel of 50 cryptocurrency experts expect that their ‘Ethereum Killers’ could run up to

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win their fair share of the DeFi and NFT market from Ethereum. Bitcoin, however, is expected to continue its reign as the biggest player of the crypto world - at least for the time being. In view of the coming wave, banks and financial institutions in the US have been on a crypto hiring spree. Over the past three years, they have onboarded more than 1,000 crypto experts. Currently, financial institutions are offering significant bonuses to attract even more talent their way, according to Bloomberg. Indian technology companies and crypto exchanges are also on the lookout for crypto talent. The demand for talent has jumped over the last 8-10 months with more than 12,000 job openings on the docket in October, according to a report by Bangalore-based staffing specialist Xpheno. Since the Supreme Court lifted the ban on cryptocurrencies in 2020, interest in blockchain technology has seeped back into the country, despite the Reserve Bank of India’s (RBI) attempts to dissuade investors. BrokerChooser, an investment broker comparison company, pegs that there are currently 10.07 crore crypto owners in India - reportedly higher than everywhere else in the world.

DEADLINE TO APPLY FOR E-AUTO PERMITS IN DELHI EXTENDED TO NOVEMBER 15

The last date for applying for an electric auto-rickshaw permit, which earlier ended on November 1, has been extended to November 15, Delhi Transport Minister Kailash Gahlot said. Transport Department has received more than 16,000 applications for 4,261 e-auto rickshaw permits. "The e-auto scheme is also a means of self-employment for the youth and women of the city," Gahlot said.

THE 2021 GOLDMAN SACHS MD LIST IS THE BIGGEST EVER WITH 643 MANAGING DIRECTORS! The 2021 Goldman Sachs managing director list is out. This year, Goldman promoted 643 people, up from just 465 people in 2019, and 26% higher than the 509 people who were promoted in the previous record year of 2017.

MUMBAI TEENS QUIT STANFORD TO RUN GROCERY START-UP, RAISE $60 MILLION ZEPTO, THE DUO'S GROCERY DELIVERY APP, HAS RAISED $60 MILLION FUNDS TO BOOST ITS PRESENCE IN INDIA.

30% of this year's class are women, versus 29% in 2019 and 24% in 2017, suggesting Goldman may have reached a ceiling with female promotions. 5% are black; 5% are Hispanic (up from 2% in 2019); 28% are Asian; presumably the remaining 62% are Caucasian. Far fewer of this year's Goldman MDs began their careers at the firm than in the past. In 2019, 66% of the newly promoted MDs began their careers as analysts and associates. This year, that’s down to just 30%. – If you want to make MD at GS, it clearly now helps to join mid-career. Goldman has also swung to America with this year’s promotions – 60% of the new class are in the Americas, versus 53% two years ago. However, just 23% are in EMEA, versus 31% in 2019. 12% are in APAC and 5% are in Bengalaru. In 2019, 16% of new MDs were in Asia. The full list of new Goldman MDs is below. Its size seems to have come as a surprise internally. "Almost everyone who was up for promotion got it," one Goldman trader told us.

In 2020, two Mumbai-based teens, Aadit Palicha and Kaivalya Vohra got admission into the Standford University's most revered Computer Science Engineering program. However, they soon quit from there to start a business focused on grocery delivery. Palicha and Kaivalya chose grocery delivery as there was a huge demand for the service post the pandemic induced lockdowns in India. Now, Zepto, the duo's grocery delivery app, has raised $60 million funds through investors like Glade Brook Capital and Y Combinator, to bolster its presence across India's fast-growing grocery delivery market, Bloomberg reported.

PORTION OF MULTILEVEL PARKING FACILITY AT DELHI'S GREEN PARK COLLAPSES A portion of an automated multilevel parking facility at Delhi's Green Park, which was inaugurated last year, collapsed on Tuesday. "There are four towers...out of which a plate on the eighth floor of the third tower was damaged," an official said. "The multilevel parking has now been blocked...no entry is permitted till complete technical inspection," police said. SEASONAL MAGAZINE

FITNESS

ccording to a recent study, regular exercise and staying physically active can help to protect the structure and function of our brains as we age. This means it can reduce your chances of developing certain neurodegenerative conditions, such as Alzheimer's disease. The disease is not new and over the years researchers have known about the protective effect of exercise. However, the exact answer as to why Alzheimer's has this effect on the brain has remained a mystery. But the recently published study has some answers. Alzheimer's disease is a progressive neurological disorder that can lead to brain shrinkage also known as atrophy and gradually can also lead to the death of these brain cells. Alzheimer's disease is one of the most common types of dementia. Dementia is a condition that leads to a continuous decline in thinking ability, behavioral and social skills that can affect an individual's ability to function properly and independently. SEASONAL MAGAZINE

Published in the Journal of Neuroscience, the study findings say that physical activity alters the activity of the brain's immune cells, which lowers inflammation in the brain. Our brain is a very important organ of the body which consists of a class of special immune cells known as microglia. What are these microglia cells? According to the experts, these cells constantly survey the brain tissue for damage or infection and clear away debris or dying cells. They also help in the production of new neurons via a process which is known as neurogenesis, which is linked with learning and memory. How does exercise help these cells? In order to do their job, microglia needs to switch from their resting state to an activated state and exactly this is where exercise helps. In this latest study researchers have revealed for the first time a link between physical activity reduced microglial activation and better cognitive function in the human brain.

TALIBAN ASKS EUROPEAN UNION FOR HELP IN RUNNING AFGHAN AIRPORTS The Taliban asked the European Union for help in "maintaining operations" at the airports in Afghanistan, the EU said on Sunday. The request was made during two-day talks between the EU and the Taliban officials in Qatar. The talks were focused on the "worsening humanitarian situation in Afghanistan as winter is arriving", the EU added.

LIC GETS RBI NOD TO INCREASE STAKE IN KOTAK MAHINDRA BANK TO 9.99% Kotak Mahindra Bank said the RBI has granted its approval to Life Insurance Corporation of India (LIC) to increase holding in the bank to up to 9.99%. The approval is valid for a period of one year, it added. LIC has 4.96% stake in the bank as of September 30 and is its fifth largest shareholder, according to Refinitiv data.

TELECOM WAR

though availability is subject to "regulatory approvals" and would be fulfilled on a first-come, first-served basis. Musk's SpaceX bid for an initial India foray into the broadband from-space turf faced its first challenge in March when an industry body representing rival Bhartibacked OneWeb, Amazon, Hughes, Google, Microsoft and Facebook among others wrote to the Telecom Regulatory Authority of India (Trai) and the Indian Space Research Organisation (Isro) asking them to stop SpaceX from pre-selling the beta version of its service in India. The broadband association claimed that SpaceX did not have a valid licence or authorisation from the Indian government to offer such services in the country. The government directive comes at a time when the likes of Bharti-backed OneWeb, Musk's SpaceX, Jeff Bezosfounded Amazon and the Tata-Telesat combine are readying to enter India's nascent broadband-from-space segment, leveraging on their respective global low-earth orbit (LEO) satellite constellations. Both SpaceX and OneWeb plan to launch broadband from space services next year.

Elon Musk-owned SpaceX has been barred from accepting pre-orders for its upcoming satellite broadband services in India. The communications ministry said that the tech billionaire's broadband from-space venture is not a licensee in India and issued a public advisory asking Indian citizens not to subscribe to its Starlink satellite internet service. Musk's SpaceX has been accepting preorders for the beta version of the service for a fully refundable deposit of $99 (around Rs. 7,400). "The Department of Telecommunications (DoT) has pointed out that Starlink Internet Services is not licensed to offer satellite-based internet services in India being advertised to the public... the government, (accordingly), has asked the company to comply with the Indian regulatory framework for rendering satellite-based communication services and refrain from booking/rendering such services in India with immediate effect," the ministry said in a statement. The ministry also categorically told In-

dian citizens that Starlink was not an authorised licensee and advised them "not to subscribe" to Starlink's services. "It's hereby informed to the public at large that the said company (Starlink Internet) has not obtained any licence/ authorisation for rendering satellitebased internet services that are being booked on their website," DoT said. The company "needs the requisite licence(s) from DoT" for rendering satellite internet services in Indian territory, it added. The terse directive is a big jolt for Musk's satellite broadband ambitions in India. Starlink's India head Sanjay Bhargava said recently that pre-orders from India had already crossed 5,000. He had even encouraged potential customers to get added to the company's priority list by depositing $99 to avoid being waitlisted. Bhargava declined to comment on Starlink's response to the government order. According to the Starlink website, its satellite broadband services are being targeted for launch in India next year, al-

It was in September when Musk last publicly spoke about India plans for Starlink. While responding to a question on Twitter, the SpaceX founder said he is figuring out the regulatory process in India. "Just figuring out the regulatory approval process," he wrote. Starlink India director Sanjay Bhargava said last month announced on LinkedIn that the company has successfully registered its India subsidiary —Starlink Satellite Communications Private Limited. “Pleased to share that SpaceX now has a 100% owned subsidiary in India.” The company plans to roll out services across 200,000 active terminals in more than 160,000 districts by 2022. Musk had recently claimed that Starlink will have the capability to transfer data at the speed of light. At present, the Starlink network relies on a dish, satellites and ground stations. The company wants to get rid of these ground stations that have proved to be a hindrance for fast data transfers due to the long time they take to communicate with the satellites. SEASONAL MAGAZINE

FINTECH

WHATSAPP PAY FINALLY GETS APPROVAL TO DOUBLE ITS USERBASE For those wondering what happened to WhatsApp Pay, how it was unable to make a wave against incumbents PhonePe, Google Pay & PayTM, here is the reason and why it may change soon.

WILL TRY FOR IPO WHEN GOVT ALLOWS US: INDIA'S 1ST CRYPTO UNICORN COINDCX

hatsApp is by far the largest messaging service in India. It's used by millions daily, not only for catching up with friends and family, but also for placing orders at nearby grocery stores, carrying out business dealings, group studies, and so much more. In a bid to turn the service into more than just a messaging platform, WhatsApp rolled out peer-to-peer payment support in the country using the Universal Payments Interface (UPI) last year. The company managed to do this after almost two years of extensive trials during which it repeatedly failed to get the necessary approval from Indian regulatory bodies. Despite being granted consent in late 2020, the National Payments Corporation of India (NPCI) would only allow WhatsApp to onboard 20 million users for its payments service. Due to the restriction, WhatsApp has not widely rolled out or promoted its payment service. In fact, it is yet to reach the initial 20 million user limit. Over a year later, that restriction is now being doubled to 40 million. It is not known whether the cap on SEASONAL MAGAZINE

WhatsApp Pay is due to the restriction on all players to limit themselves to 30% users, or due to the platform's near monopoly status in messaging in India, or some other reason.

CoinDCX is planning to pursue an initial public offering (IPO) "as soon as the government or the situations allow us", the cryptocurrency exchange's Co-founder Neeraj Khandelwal told Bloomberg. "An IPO gives a legitimacy to the industry, just like the Coinbase IPO gave a lot of confidence in the crypto markets," he added. CoinDCX became India's first cryptocurrency unicorn in August.

WhatsApp had requested the NPCI to remove the cap altogether. However, the regulator has supposedly allowed the company to double its userbase to 40 million instead. While the new 40 million user cap will give the Meta (Facebook) owned platform some breathing room, it still won't be sufficient as the service has over 500 million potential users for WhatsApp Pay in the country. Based on UPI, WhatsApp Pay makes it extremely easy to send or receive money from a person via a WhatsApp chat. It's looking to take advantage of its popularity and capture a large slice of India's digital transactions pie, which has been rapidly growing since late 2016. Google Pay, PayTM, and PhonePe are currently the three largest UPI apps in India. However, if the NPCI removed the cap from WhatsApp, it would only be a matter of time before the messaging service breaks it into the top three.

RS 52,000 CRORE GST COMPENSATION DUE TO STATES AS OF SEPT: MOS FINANCE Nearly Rs 52,000 crore of GST compensation was due to the states as of September 2021, Minister of State for Finance Pankaj Chaudhary informed the Parliament. Over ?1.10 lakh crore and ?1.59 lakh crore was released to the states as back to back loan in FY21 and FY22, respectively, he added. COVID-19's economic impact led to higher compensation requirement, he said.

INNOVATION

CRYPTO ENTREPRENEURS MAKE THEIR MARK IN US RICH LIST 7 crypto billionaires have entered the Forbes 2021 list of richest Americans. The group also comprises three youngest members – Sam Bankman-Fried (29 years), Brian Armstrong (38) and Fred Ehrsam (33). With the growing acceptance of cryptocurrency in mainstream culture, seven crypto entrepreneurs and billionaires have been named on the Forbes 2021 list of richest Americans. The group of 7 crypto billionaires is worth $55 billion collectively. Here’s a look at the crypto billionaires in Forbes list of the 400 richest people in America.

Sam Bankman-Fried The founder and CEO of cryptocurrency exchange FTX is crypto’s richest billionaire. Sam Bankman-Fried has a net worth of $22.5 billion which doubled with the closure of a receent $900-million deal. FTX is valued at $18 billion. Most of Sam Bankman-Fried’s wealth is tied up in FTX's equity and tokens. According to Forbes, 29-year-old Bankman-Fried is the richest billionaire under 30 since Facebook founder Mark Zuckerberg. Brian Armstrong Armstrong is the CEO and co-founder of Coinbase, the largest crypto exchange in the US. His wealth has steadily grown to $11.5 billion after Coinbase made a public debut in April. Armstrong owns 19 percent of the company.

Sam Bankman-Fried

Chris Larsen The chairman and co-founder of crypto payment protocol Ripple saw his wealth grow from $2.7 billion last year to $6 billion this year. Larsen is the only crypto billionaire who featured on the Forbes richest list last year too. Cameron and Tyler Winklevoss The Winklevoss twins might have lost out to Mark Zuckerberg in the race to control Facebook, but now they are the founders of cryptocurrency exchange Gemini and are each worth $4.3 billion. The two featured in the magazine cover of Forbes 2021 World’s Billionaires April issue which was sold in an auction as a non-fungible token for $333,333. Fred Ehrsam

Jed McCaleb

Fred Ehrsam

Ehrsam had co-founded Coinbase with Brian Armstrong in 2012 but left the exchange in 2017. He now leads the crypto-focused investment firm Paradigm and has an estimated net worth is $3.5 billion. Jed McCaleb A pioneer in the blockchain space, McCaleb helped launch Ripple, Stellar and Mt. Gox. McCaleb's wealth, estimated at $3 billion, is mostly aligned to his XRP stake as a Ripple co-founder.

Brian Armstrong

Cameron and Tyler Winklevoss

Chris Larsen SEASONAL MAGAZINE

RAILTEL: COMMITTED TO NATIONAL DIGITAL TRANSFORMATION By Puneet Chawla, CMD, RailTel

When the full vision of RailTel gets implemented in the coming quarters and years, India will witness a national digital transformation. The PSU under Ministry of Railways already operates one of the world’s largest public Wi-Fi facilities deployed across 6090 railway stations and has a pan-India optic fiber network in the country. The company's efforts to connect rural and remote areas of India in one seamless network will contribute to national digital transformation as well as nation building. The company is also well managed financially, with it being a profit making entity since FY’07, and even amidst the unprecedented Covid pandemic, went on to record its largest ever annual income. Apart from contributing to the digitialization of almost all railway verticals including its hospitals, RailTel helps in the digital transformation of defence, banking, health & education sectors. Orders keep flowing to this uniquely capable PSU, with its order book standing at Rs. 5300 crore now. In this article, RailTel CMD Puneet Chawla details the various ongoing and upcoming initiatives of the company, as well as its unique achievements

RailTel, a Mini Ratna PSU under Ministry of Railways, a Signalling and Telecom arm of the National Transporter i.e. Indian Railways has, by way of expansion, diversification & upgradation, now emerged as an ICT provider and one of the largest neutral telecom infrastructure providers in the country. It owns a Pan-India fiber network of 60000+RKm (and growing) along Railway track, covering important towns, cities and several rural areas. RailTel also has 18000+ Km city wide Access network, 9300+ Point of Presence, 1050+ telecom towers, 2 TierIII certified Data Centres, MeitY empanelled RailCloud, specialized Security Operation Centre. What makes this network one of the most secure one is the absence of any equipment from neighbouring countries sharing land border with India. With the help of its robust infrastructure, it provides a host of telecommunication services like Internet Bandwidth, Leased lines, MPLS VPN, Tower Co-location, dark fiber leasing, retail broadband– RailWire, HD Video Conferencing, etendering and many more. Despite Covid pandemic, RailTel managed to make rapid growth and recorded its highest ever consolidated income in FY 20-21 of Rs.1411 Crore, a growth of 21% and achieving a CAGR growth of 16.6% over the past 3 years.

Puneet Chawla, CMD, RaiTtel SEASONAL MAGAZINE

DESPITE COVID PANDEMIC, RAILTEL MANAGED TO MAKE RAPID GROWTH AND RECORDED ITS HIGHEST EVER CONSOLIDATED INCOME IN FY 20-21 OF RS.1411 CRORE, A GROWTH OF 21% AND ACHIEVING A CAGR GROWTH OF 16.6% OVER THE PAST 3 YEARS.

RailTel currently has orders worth Rs. 5300 crore to its credit. In addition to Railways, the company is also delivering value to Coal, Defence, banking, health & education sectors, and from which the company is expecting further growth. RailTel has obtained an important project from Defence Research and Development Organization for expansion and enhancement of the network capacity of Central Internet Access Gateway to ensure secure Internet Service. It has entered into a new activity of installing State-of-the-Art Integrated Tunnel Communication System and has recently received an order of Rs. 297.67 Cr. for installing such system in KatraDharam-Banihal section of the ongoing crucial Jammu and Kashmir Rail link. With this order, RailTel now has a total of 5 tunnel communication projects of Indian Railway, costing Rs. 350 Crore. These projects are very crucial and essential for safety of train operation. The company recently implemented a web-based, multi-module, feature-rich and sophisticated software system Hospital Management Information System - in all the 695 hospitals and health units of Indian Railways, giving a novel and improved experience to hospital administrators and patients. It has provided free High Speed Wi-Fi Internet facilities at more than 6090+Railway stations across the country and all Railway stations (Except halt stations) will be covered shortly. This is one of the largest public Wi-Fi networks of the world, which has turned Railway stations into Hub of digital inclusion. RailTel is now focusing on village connectivity using its rural Point of Presence (POPs) at 5000 rural Wi-Fi enabled stations. The company will play a pivotal role in the PM WANI (Wi-Fi Access Network Interface) project which envisages creating a nationwide Public Wi-Fi Ecosystem. The subscriber base for the company’s retail broadband service ‘RailWire’ has grown to nearly 4.4 Lakhs+ subscribers all over the country which is 269% growth since April’2020. In order to expand the reach of the its services, MOU with various state power

RailTel Data Centre transmission companies is being entered into for use of their OFC network. As a part of a new Railway Display Network project, the company will install large format display screens at foot-over bridges, platforms, waiting rooms and concourse at railway stations to provide the necessary information, social messages and become a medium of enriched infotainment. It is also implementing project of Content on Demand to provide pre-loaded multi lingual content to passengers on their devices in mail/express/ suburban trains. RailTel is providing IP based Video Surveillance System at Stations across country to ensure proactive high-tech security. This has already been implemented at 300 stations and 4800 more stations are under implementation. Implementation of e-office, a paperless

THE COMPANY RECENTLY IMPLEMENTED A WEB-BASED, MULTI-MODULE, FEATURE-RICH AND SOPHISTICATED SOFTWARE SYSTEM - HOSPITAL MANAGEMENT INFORMATION SYSTEM - IN ALL THE 695 HOSPITALS AND HEALTH UNITS OF INDIAN RAILWAYS, GIVING A NOVEL AND IMPROVED EXPERIENCE TO HOSPITAL ADMINISTRATORS AND PATIENTS.

working project, was carried out by the company on war footing, which turned out to be a boon for remote working for Indian Railways during the Covid pandemic. There are more than 1.37 lacs users of the system on Railways handling 18 lacs + e-files and have created 1.24 Cr e-receipts. RailTel is one of the implementing partners of Bharatnet programme to lay optical fiber cable to connect the panchayats with respective block headquarters on 100 Mbps broadband speed. As of 31st Dec 2021, total 26444 KM.of optical fiber cable had been laid and over 7913 panchayats had been made service ready. RailTel is an implementing agency for the National Knowledge Network project aimed at connecting all higher centers of learning and research. It has so far connected 747 institutions of Higher learning such as IITs, IIMs, research institutions etc. RailTel is also providing Campus Wi-Fi facilities at 26 Central university campuses. RailTel also intends to play a significant role in modernizing Train Control through execution of KAVACH (Train Collision Avoidance System) and implementing LTE based High Speed Mobile Communication Corridor for Indian Railways. The company is strongly committed to deployment of new technologies for the digital growth of the nation to bring in transparency and efficiency. SEASONAL MAGAZINE

HIGHEREDUCATION

HOW JSSAHER ENRICHES ITS STUDENTS AND COMMUNITY

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Mysuru based JSS Academy of Higher Education & Research (JSSAHER) is forever being proactive and innovative with its initiatives, projects, industry collaborations and outreach activities, so much so that its students, research scholars, faculty and the community around it are being enriched continually, like how a true world-class university should be. No wonder then that national and international accolades are coming searching for this primarily health sciences university which has also diversified well into life sciences. JSSAHER remains at the cutting edge of delivering medical, pharma & dental courses, and has also introduced B.Sc. and M.Sc. in Medical Genetics and Genomics, a sunrise field now. Apart from its new mammoth campus which is under construction, JSSAHER is investing heavily into digital infrastructure for expanding its online education, where it sees exponential growth. The deemed university is ably led by JSS Mahavidyapeetha’s Executive Secretary Dr. C. G. Betsurmath and Dr. B. Suresh, Pro-Chancellor of JSSAHER.

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When the Times Higher Education (THE), a Global Ranking Agency, recently released its World University Rankings 2022 which covers more than 1,600 Universities across 99 countries and territories, JSS Academy of Higher Education & Research had a lot to beam about. JSSAHER became the only Indian university, apart from IISc Bengaluru and IIT Ropar, to come in the Top 500 ranks. No other government, deemed or private university from India could make into this prestigious list, which also made a mark as the largest and most diverse University rankings till date. Even from India, 72 Universities of all hues participated in this ranking. There were more reasons for JSSAHER to smile about. While it was ranked in the 351-400 band in the THE ranking behind the two national institutes, when it came to research, the deemed university was at the very top. JSSAHER was ranked number 1 in India for the citations generated from its research publications, while in world ranking it came at the 8th position. The ranking methodology had assessed the institution’s performance across four areas - teaching, research, knowledge transfer and international outlook. JSSAHER also bagged the fourth rank in India for International outlook. Speaking to Seasonal Magazine, Dr. B. Suresh, Pro-Chancellor of JSSAHER said that rather than resting on these laurels, all efforts are now on to maintain and improve the university’s ranking in the coming years. As a leading health sciences university in India, it is not only in academics and

recognition. Earlier, the International College of Dentist (India Section) had also recognised the Clinic as one of the best modality to promote oral health in children. This oral health delivery system is as per the recent goals of global oral health recommendations to implement such programmes at sites where the infants visit for vaccination or at a 'well baby clinic' to promote babies' visits to a dentist by one year age, to impart early oral hygiene & brushing habit and advice on teethfriendly and safe feeding practices.

Dr. C. G. Betsurmath Executive Secretary, JSS Mahavidyapeetha research, but in medical practice too that JSSAHER has been winning international accolades. Recently, Dr. Indira and Dr. B. Nandlal, Paediatric Dentists at JSS Dental College and Hospital (JSSDCH), received the prestigious 'Bright Smiles, Bright Future' Award from the International Association of Paediatric Dentist (IAPD) in the 28th IAPD Virtual Congress. This award is in recognition of an innovative Baby Oral Health Primary Preventive Education Programme to mothers of children below one year of age at the ‘Baby Oral Health Promotion Clinic,’ which is a unique extension clinic of JSSDCH. The six-year old Clinic was inaugurated by Stefanie L. Russel from New York University, and this is not the first time that it has bagged an international

JSSAHER HAS BECOME THE ONLY INDIAN UNIVERSITY, APART FROM IISC AND ONE IIT, TO COME IN THE 'GLOBAL TOP 500 RANKS OF UNIVERSITIES' BY UK BASED TIMES HIGHER EDUCATION.

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The Clinic has been instrumental in providing anticipatory guidance to mothers to prevent early childhood dental decay in children less than three years. More than 7,000 children have been benefited from this preventive JSS programme since its inception. The success and international recognitions for these efforts by JSSAHER underscores the passion and rigour with which this private sector university has been pursuing its community outreach programs so as to achieve meaningful and significant outcomes for the immediate community it serves. JSSAHER could make rapid strides in research due to the establishment of JSSAHER Research Hub (JSSRH), which is the university's nodal centre for translational and transformative research for societal benefit. JSSRH achieves this by helping the individual institutions grow in research capabilities beyond their boundaries. Towards this, JSSAHER Research Hub develops inter institutional research projects & grants, publications &

JSS Dental College and Hospital

The outlook of JSSAHER's research initiatives are mostly all long-term. Towards this the focus is on establishing long-term engagements and partnerships with industry partners and research institutions. Emphasis is given to developing patents and protecting intellectual property rights of the research activities. All the existing national and international research collaborations including with government organizations are taken seriously and continually strengthened.

Dr. Surinder Singh Vice Chancellor patents. It also disseminates curated courses in the field of Innovation & Entrepreneurship. Another responsibility handled by JSSRH is forging targeted alliances with partners for product development and commercialization. And all through these activities, the JSSAHER Research Hub inculcates values and principles of international organizations like UN, WHO, and social organizations through various academic, outreach and research activities. The functional wings of JSS Research Hub are Sparkle Cine, Entrepreneurship Cell, IPR Cell, Institution Innovation Council, Innovation Lab, Ideation Lab, 3D Printing facility, Special Interest Groups and the Centre for Advanced Drug Research & Testing (CADRAT). The various Centres of Excellence at JSSAHER in collaboration with the JSSAHER Research Hub empowers entrepreneurship development, industryinstitution partnerships and furthers the causes of environmental protection and sustainability.

JSSAHER has been in the forefront of battling the Covid-19 pandemic both during its first and second waves. It also played a globally noted role as it was one of the select few clinical study centres for Oxford University's Covishield vaccine in India, based on which the vaccine was approved. Now, under the leadership of the university's JSS Hospital, it is fully geared up for extending its services to the people of Mysuru for the imminent third wave of the pandemic. JSS Hospital which had already given 100 beds - most of them oxygenated - to the government during the earlier waves,

TWO PAEDIATRIC DENTISTS FROM JSS DENTAL COLLEGE HAVE BAGGED THE PRESTIGIOUS 'BRIGHT SMILES, BRIGHT FUTURE' AWARD FROM THE INTERNATIONAL ASSOCIATION OF PAEDIATRIC DENTISTS.

Dr. B. Manjunatha Registrar has agreed to give 317 more beds to the district administration for battling the third wave. The Covid Care Centre of JSS Hospital has a total of 300 beds spread across six wards. As many as 200 staff including 60 doctors and 120 nurses and other medical personnel work in three shifts to take care of patients. Based on its experience from the first two waves, the Hospital has upgraded its facilities to meet any eventuality. Since many people in and around Mysuru have been vaccinated, the hospital’s focus this time will be caring for the unvaccinated, especially children.

JSS College of Pharmacy

The university and research hub spearhead a slew of activities throughout the academic year to achieve these objectives. These include research and academic activities focused on encouraging the spirit of innovation & entrepreneurship in both staff and students. A special focus area is the pursuit of collaborative and complementary research themes. The research hub organizes regular talks, seminars, lectures & workshops so as to germinate a conducive research atmosphere in the campus. SEASONAL MAGAZINE

Towards this all paediatric ICU beds have been made oxygen ready. Dr. Suresh said that this teaching hospital of the university is now the most wellequipped in Mysuru to meet any eventuality. The JSS Hospital is also planning to install a 5,000 Kilo Litre Liquid Oxygen Tank soon. Once it is ready, it will produce 500 litres of oxygen per minute, which is enough for supplying to additional 500 to 600 beds. Dr. Suresh informed that it has already been ordered and should be ready by about a month’s time. A new oxygen generator will also be commissioned soon. Karnataka Minister for Cooperation ST Somashekar, who is in charge of Mysuru has lauded the efforts and support from JSSAHER in tackling Covid-19 in the district during the first and second waves, and promised that the Government will extend all help in the setting up of Oxygen Plant at the earliest, for which Union Ministers from the state Pralhad Joshi and D. V. Sadananda Gowda will be appealed for follow up. He made these assurances while visiting the Suttur Mutt, which owns and manages JSSAHER's

JSSAHER RESEARCH HUB (JSSRH), THE UNIVERSITY'S NODAL CENTRE FOR TRANSLATIONAL AND TRANSFORMATIVE RESEARCH FOR SOCIETAL BENEFIT IS SPEARHEADING THE UNIVERSITY'S RESEARCH INITIATIVES.

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School of Life Sciences parent, JSS Mahavidyapeetha.

from different subject areas.

JSSAHER which has been a national level leader in hosting international conferences, seminars and workshops, is continuing these initiatives in the online mode through high-profile webinars that are witnessing excellent participation from subject matter experts and key influencers.

This webinar focused on the production and consumption of safe food which has immediate and long-term health benefits and synergies between the health of people, the environment and the economy. This event also helped everyone in understanding the role of safe practices in agriculture and in food industries to ensure food security as well as the quality of food products.

JSSAHER's Department of Nutrition & Dietetics, under Faculty of Life Sciences, had organised a two-day National webinar and Infographic Competition on the theme ‘Food Safety: Everyone’s Business’ to commemorate the World Food Safety Day - 2021. The two-day virtual programme included two sessions each day addressed by internationally recognised Nutritionists, Academicians and Health professionals from reputed institutions and industries in the relevant field. The key beneficiaries were JSSAHER's UG/PG students, research scholars and HCPs

The webinar was inaugurated by Arun Singhal, IASCEO, FSSAI, MoH&FW. The keynote address was by Dr. B. Suresh, Pro-Chancellor, JSSAHER. There were four sessions by professional leaders in the subject including Dr. K. Madhavan Nair, Chairperson – Scientific Panel on Labelling & Claims/ Advertisements, FSSAI, MoH&FW, Govt. of India & Scientist F (Retd.), NIN, Hyderabad; Dr. K.A. Anu Appaiah, Head, Food Protection and Infestation Control & Sr. Principal Scientist (Retd.),

Department Microbiology & Fermentation Technology, CSIR-CFTRI, Mysuru; Niraj Marathe, Co-Founder & CEO, Coolcrop Technologies Pvt. Ltd, Gujarat; and Dr. Chaitra Narayan, Founder – Codagu Agritech & Shivam Distillations, Mysuru.

keynote address was by Prof. Anil K. Gupta, Head, ECDRM, NIDM. The speakers were Dr. Sushma Guleria, Assistant Professor, NIDM and Dr. Pranab J. Patar, Chief Executive, Global Foundation for Advancement of Environment.

The well attended event was a feather in the cap for JSSAHER's Department of Nutrition & Dietetics, which offers M.Sc in Nutrition & Dietetics, M.Sc in Sports Nutrition & Management, PGD in Nutraceutical Technology, B.Sc in Food, Nutrition & Dietetics and Doctor of Philosophy (Ph.D) programmes. Admissions are open now for these courses.

JSSAHER's Department of Biochemistry, Faculty of Life Sciences (FLS), also conducted a high-profile two-day International Webinar entitled 'The Career Catalyst: Plan, Prepare and Prosper in Life Sciences'. The virtual event was inaugurated by Dr. B. Suresh, Pro-Chancellor, JSSAHER, alongside Dr. B. Manjunatha, Registrar, JSSAHER, Dr. S. Balasubramanian, Director (Research) and Dean-FLS and Dr. K.A. Raveesha, Professor & Head, FLS.

JSSAHER also collaborated with the National Institute of Disaster Management (NIDM), Ministry Of Home Affairs, Government Of India, to conduct a Webinar on the most relevant topic, Impact of Climate Change and Sustainable Development Goals. The

The well-attended event which saw 1600 registrations, had renowned experts from India, Australia, Austria, UK and USA, in life sciences, from the academicia, research, industries, startups, education

and more. During his speech, Dr. Suresh reiterated that Life Sciences is anticipated as an important sector for next decade alongside Medical & Health Technology for its importance in wellbeing of the mankind. Dr. Suresh also had some highly inspiring insights to share the global audience of students and research scholars. He elaborated about Dr. Krishna Ella’s illustrious career from being a graduate in Agricultural Sciences and later on heading towards excelling to enable India’s first indigenous COVID-19 vaccine COVAXIN from his company Bharat Biotech. Giving excerpts of his discussions with people like Dr. Krishna Ella, Dr. Suresh mentioned that companies like Bharat Biotech has immense requirement of Life Science graduates with essential skills to cater to the needs of the emerging healthcare sector. On the admissions front, pharmacy seats are already full this year. Dental and life sciences are also witnessing high interest, whereas for MBBS the university is awaiting further guidelines from the government to proceed. JSSAHER is constructing a new mammoth campus, to which almost all of the academic and research wings would be eventually shifted. But for now, the university is giving more priority to investing in its digital infrastructure for online education. Speaking to Seasonal Magazine, Dr. Suresh shared that the university expects the online / offline hybrid model to continue for many more months or years, and that it also provides a way for the university to pursue exponential growth. SEASONAL MAGAZINE

REALTY

CAN PRESTIGE ESTATES PROJECTS KEEP UP THE MOMENTUM?

WHILE THE LAST 18 MONTHS WAS ONE OF THE MOST DIFFICULT PERIODS FOR INDIA INC, FOR PRESTIGE ESTATE PROJECTS IT WAS A DRAMATIC YEAR OF TURNAROUND. UNDER CHAIRMAN & MANAGING DIRECTOR IRFAN RAZACK’S VISIONARY LEADERSHIP, FY’21 SAW PRESTIGE’S PROFITS AND ROE NEARLY TRIPLING, AND DEBT-TO-EQUITY DIVING TO ONE-THIRD OF THE PREVIOUS YEAR THANKS TO THE $1.5 BILLION BLACKSTONE DEAL. ONLY THE FALL IN REVENUE WAS THERE TO REMIND OF THE PANDEMIC, AND THE STOCK HAS MORE THAN DOUBLED IN THE YEAR-TO-DATE. PRESTIGE HAS GUIDED FOR AN EVEN BETTER FY’22, AND THE Q1 AND Q2 RESULTS HAVE SHOWN GOOD PERFORMANCE. BUT WHAT REALLY MATTERS FOR PRESTIGE NOW IS THE IMPRESSIVE DIVERSIFICATIONS IT IS UNDERTAKING IN WAREHOUSING, HOSPITALITY, RETAIL AND ITS IMPRESSIVE GEOGRAPHIC DIVERSIFICATION INTO MUMBAI.

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Irfan Razack Chairman & Managing Director Prestige Group

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CAN PRESTIGE ESTATES PROJECTS KEEP UP THE MOMENTUM? ne huge advantage a brand like Prestige Estates holds in India’s realty market is that, having made a name for itself in high quality residential and commercial projects, it can extend that expertise and goodwill to new buzzing segments as they emerge. The firm had some time back made such a silent foray into large Grade A warehouses. For testing the waters, it built two such warehouses in a 15 acre land it held in Malur near Bengaluru. As in every Prestige project, keen attention went into every detail, especially as it was a learning experience for the company too, as it was doing Grade

Prestige Jasdan Classic

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A warehouses for the first time. But it came out with flying colours with one of the buildings attracting e-com major Flipkart as the tenant and the other being taken by Dhoot Transmission. Now, having proved itself in this domain with such a pilot project, Prestige Estates is going all out to develop this domain, especially as there is a huge demand from ecommerce companies like Flipkart, Amazon, and several of their smaller peers. Towards this, the company has acquired multiple land parcels in and around Bengaluru as a first step. Being a Bengaluru headquartered developer, the company has unparalleled expertise in the city, and the city being the e-commerce hub of India also

augurs well for it. Later on, Prestige plans to take this vertical to other regions of the country too. But unlike some of its peers, it is not making a big splash for attracting investors at this stage, despite the warehousing sector attracting $900 million investments in 2021 alone. Like in everything it does, Prestige wants to differentiate itself in this sector with premium offerings, and it also wants to undertake significant growth and value addition in this vertical, before considering to onboard investors into this. This has been a strategy it did quite successfully in its retail & office space vertical, which last year divested several assets to private equity major Blackstone

Group for $1.5 billion. In Grade A warehousing, it is eyeing a unique opportunity, as large organized players like itself with expertise in everything from conceptualization to land acquisition to design to execution to leasing, is rare in this field. That is why Prestige is confident of differentiating its upcoming warehouses from the rest of the pack. By investing significant funds into this vertical on its own, Prestige wants to build one of the largest Grade A warehousing portfolios in the country. With its foray into warehousing, Prestige is also closing a gap in its portfolio in retail. Already, it was a noted player in brick n’ mortar retailing, having developed several malls and running them too. Even though it sold off significant retail properties to Blackstone, it remains bullish on physical retailing as it believes that going forward retailing will follow a hybrid model of e-com and brick n’ mortar. This can be seen from the changing strategies of e-com companies like Flipkart, Amazon, Jiomart etc, all of whom are planning to leverage the tens of thousands of multi-brand and single-brand physical stores owned by individual retailers in malls and high streets for wider reach and rapid delivery to their growing customer base. This means significantly more business for such shops and malls, and Prestige is gearing up for this future with two new malls under construction and six more malls in the planning stage. When these are complete, Prestige will have double the retail properties compared to the retail assets it sold to Blackstone last year. With large IT and ITES players starting to bring back their huge workforces back to their offices, Prestige is also eyeing an uptick in the demand for office space. Sensing the green shoots of recovery in office space demand, it is building several such office space projects in multiple cities including India’s economic capital of Mumbai. Another segment that is witnessing a renewed surge post the pandemic is revenge travel, among both business

Prestige White Meadows and leisure travellers, and hospitality properties stand to gain the best benefits out of this. Prestige, which already has a strong foothold in hospitality, is all set to cement it further by a major tie-up with US hospitality major Marriott International for two new hospitality projects in New Delhi. Prestige and its 50:50 joint venture partner DB Realty will develop two Marriott hotels and a convention centre in a 7.7 acre land in Aerocity. The two projects - New Delhi Marriott Marquis & Convention Centre and The St. Regis Aerocity – are unique in the Indian market. While the former will be the first Marriott Marquis & Convention Centre in India, the latter will be a tribute to Marriot’s flagship hotel in US, The St. Regis New York, and will feature its renowned New York Deli. Together these two properties will bring 779 rooms to the

With large IT and ITES players starting to bring back their huge workforces back to their offices, Prestige is also eyeing an uptick in the demand for office space.

New Delhi hospitality market, and 85,000 sq ft of premium meeting spaces. For the convenience of business and leisure travellers visiting and staying in New Delhi, the two properties are coming up quite near to Indira Gandhi International Airport. And it is not only expansion into such buzzing verticals that Prestige is handling currently. It is in the midst of doing what is historically its greatest expansion ever – a geographic expansion – into Mumbai, arguably the hottest property market in the country for long. Prestige has now chosen Mumbai for its specific performance. Property registrations in the city at a 10-year high in September 2021 and there is a 35% year-on-year uptick in registrations this year. Traditionally, most non Mumbai based developers have however not fared well in the city which is home to stock market titans and Bollywood celebrities, due to multiple reasons. One factor has been the exorbitant cost of land, which has resulted in either super expensive apartments that few developers can market effectively, or the super small apartments for the masses which witness intense competition between almost all kinds of developers. Into such a scenario has Prestige entered boldly with some unique projects. SEASONAL MAGAZINE

Prestige

Prestige’s very first project in Mumbai, Jasdan Classic in Central Mumbai speaks volumes about their strategy for the city. Even when some of the largest Mumbai based developers prefer far away suburbs for premium projects, Prestige has chosen an inside city land at Byculla West for this flagship project. Jasdan Classic consists of two skyscrapers with 233 ultra luxury homes. They are relatively large sized apartments with configurations of 2,3,4-BHK and priced between Rs. 3.69 crore and Rs. 9.44 crore. Jasdan Classic is spread over 2.2 acres of land, with each tower of 45 storeys. Nine levels of podium parking, three levels of clubhouse and plush amenities like an infinity swimming pool, gym, spa, squash court, & multipurpose hall are available inside the sprawling project. All the apartments here are designed in spacious layouts with ultra-modern living areas, large windows for cross ventilation and balconies featuring breath-taking views of the South Mumbai cityscape. The Arabian Sea on the West and the Eastern Harbor on the East sets the perfect tone of style and class for the prospective

homebuyers here. The message from Prestige is loud and clear – they are not compromising on location, or space offered or on ultrapremium amenities. While marketing such a project is a tough call for many developers, Prestige is confident of handling it comfortably, and besides that, since there are only 233 homes to sell, this flagship project from Prestige is likely to be a sure and steady sell-out. The selection of a hot and expensive location like Byculla West in Central Mumbai for their flagship project, is not a one off strategy either. Upcoming residential projects from

Prestige in Mumbai would be at similar hot locations like Pali Hill at Bandra and Marine Lines. Prestige has boldly entered such super premium micromarkets, with a keen insight that for a change many high net worth families would prefer luxury homes in such prime locations rather than in the outskirts or suburbs of the city. That is, if such projects were available. For long now, such homes from tier 1 branded developers were rare. In its upcoming commercial developments in Mumbai too, Prestige wants to develop in the best addresses, like it has always done in Bengaluru. This has led to it choosing

Prestige Waterford

land parcels in prime locations like Mahalaxmi and Bandra Kurla Complex for its first two commercial projects in the city. However, this doesn’t mean that Prestige would be shying away from the other end of the housing spectrum in Mumbai, the relatively affordable segment. The listed developer has carefully chosen the buzzing suburb of Mulund for its foray into this segment. Interestingly, this is its largest land parcel so far in Mumbai, and given the intense competition there among most of the large players, expect Prestige to offer a significantly differentiated range of homes. Prestige’s geographic expansion into Mumbai in itself is worthy of a new division or even a new subsidiary, as it will be handling different kinds of projects in diverse locations. It has inked a deal with the leading Mumbai based developer, DB Realty, for a majority of its Mumbai projects.

Venkat K. Narayana Chief Executive Officer Prestige Group

The Prestige City

The stock market listed Prestige Estates Projects continues to be one of the best performing and most promising realty companies in India. It has one of the cleanest and healthiest balance sheets in the industry with a reasonable equity of just Rs. 400 crore, a positive current ratio and a debt-to-equity of just 0.54. It’s Return on Equity is one of the best in the industry at nearly 22% for FY’21. Prestige had substantially reduced its debt burden in FY’21, a year in which its profit also zoomed by nearly three times. For the latest quarter of September 2021, the Net profit of Prestige Estates Projects rose 27.35% to Rs 75.90 crore in the quarter ended September 2021 as against Rs 59.60 crore during the previous quarter ended September 2020. This was in spite of Sales declining 28.29% during the same period due to the fallout from the second wave. It shows that Prestige has many levers to work on to better its profitability, one of which is its significant lease rentals inflow. Due to such consistent and bettering financial performance the Prestige stock has more than doubled in the year-to-date. SEASONAL MAGAZINE

FINTECH

PHONEPE INTRODUCES TOKENISATION AHEAD OF DEC 31 DEADLINE BY RBI Digital payments and financial services company PhonePe said that it has launched a tokenisation solution for online debit and credit card transactions called PhonePe SafeCard. honePe has joined card companies and payment companies like Visa, Rupay, Razorpay, and PayU in introducing tokenisation solutions ahead of the December 31 deadline for the Reserve Bank of India’s (RBI) guidelines for Payment Aggregators (PG) and Payment Gateways (PG). Tokenisation refers to the replacement of actual card details with an alternate code called the “token”, which shall be unique for every debit or credit card, token requestor and device. A token requestor is the entity that accepts requests from the customer for tokenisation of a card and passes it on to the card network to issue a corresponding token. As per RBI’s guidelines that are aimed at making card payments more secure, PAs and merchants shall not store card

credentials of customers in their database starting January 1, 2022. PhonePe which acts as a PA for merchants and customers has also applied for RBI’s PA license. Ankit Gaur, Director of Online Business at PhonePe said “RBI’s new guideline mandating tokenisation will allow for the continued growth of digital payments, with the additional security that tokenisation provides. Crucially, PhonePe SafeCard ensures that the added security doesn’t impact the customer experience at all. We are also closely working with our large merchant base to take them live on this platform.” In the lack of an alternative like CoF Tokenisation , customers who wish to use their credit or debit cards would have to enter details afresh for each transaction – including their 16-digit card number, card expiry date and card

MUSK IN TALKS WITH BRAZIL GOVERNMENT TO MONITOR AMAZON RAINFOREST SpaceX CEO Elon Musk met with Brazilian minister Fabio Faria to discuss a potential partnership to provide internet to rural schools and help monitor the Amazon rainforest for illegal deforestation. "With better connectivity we can help ensure the preservation of the Amazon," Musk said. "We're working to seal this important partnership between the Brazilian government and SpaceX," Faria said.

verification value (CVV). PhonePe has around 80 million saved cards on its platform and this solution will enable both users and merchant partners to continue executing transactions even after the December 31 deadline. This solution supports all major card networks such as Mastercard, Rupay and Visa, PhonePe said. Through SafeCard PhonePe will allow merchant partners to create, process, delete and modify tokens for online card payments with consent of their customers and use tokenisation on their own platforms via an Application Programming Interface (API) integration. PhonePe will continue to partner with PGs for the processing of payments using the created tokens. This will save the merchant partners significant time and effort by removing the need to integrate with multiple card networks, while complying with the new RBI guidelines, PhonePe added. Founded in 2015 by former Flipkart executives Sameer Nigam, Rahul Chari, and Burzin Engineer, the company has over 325 million registered users and is accepted at over 22 million merchant outlets. Apart from payments, the platform also offers insurance, gold purchasing, and mutual fund services

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L U X U RY BONHAMS LONDON OFFERS SAPPHIRES & SPINELS AT ITS LONDON JEWELS SALE

LUXURY SAFARI LODGE ARAMNESS GIR OPENS ITS DOORS IN GUJARAT

With the rising popularity of spinels, this sale is much anticipated November 19, 2021: Bonhams London Jewels sales is set to take place on December 2 at New Bond Street with show-stopping sapphire and spinels. Two pieces featuring exceptional spinels from the same mine as the Hope Spinel — sold in 2015 at famous auctioneer for a record price — is also amidst the anticipated sale. The first being the spinel and diamond pendant (estimate: £40,000 - 60,0000) followed by a spinel and diamond ring (estimate: £35,000 - 45,000).

ETRO ANNOUNCES BOHO BUTTERFLY COLLECTION IN COLLABORATION WITH GINORI 1735 The brand is introducing consumers to designs marked by their joyful and positive iconography in a joint venture with the artisanal excellence of Ginori 1735 Fashion house Etro, that has defined Italian style around the world since 1968, is introducing its audiences to the new “Boho Butterfly” collection in collaboration with the Italian manufacturing company Ginori 1735. The collection features a curated set of decorative creations made of porcelain - including a refined series of

The new luxury safari experience in India is ready to welcome visitors inside its nature bound paradise This past week, the luxurious and comfortable village-styled lodge, Aramness Gir, welcomed its first guests. Situated on the fringe of Sasan Gir National Park in Gujarat, India, the luxury experience is a first of its kind, intersecting high art, taste and culture with dreamy natural landscapes.

SWAROVSKI & NIKE LAUNCH FIRSTOF-ITS KIND SNEAKER WITH RETROREFLECTIVE CRYSTALS

SCULPTURAL MANIFESTATIONS' IS THE LATEST ART EXHIBITION BRINGING A SEDUCTIVE EDGE TO VISUAL ARTS IN NEW DELHI THIS WEEK Featuring important works by 18 contemporary artists who have had significant impacts on the Indian and global art landscape, the art showcase, 18 Dimensions: Sculptural Manifestations, at Palette Art Gallery in New Delhi will be highlighting unconventional sculptural art.

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Magic and science meet with the Austrian luxury brand joining forces with sportswear conglomerate to produce an exclusively studded sneaker with over 200 crystals Swarovski, best known as an innovator in the luxury jewellery space, announced a new collaboration with sportswear giant, Nike, pioneering a new women’s sneaker that features an impressive set of crystals. With over 228 individually studded crystals inspired by road reflectors, Nike’s signature Air Force 1 shoe has been remodeled with Swarovski Crystal elements, beaming as bright as the light source around the shoe.

HEALTH

term effects of hyperglycaemia include cardiovascular diseases, nerve damage, kidney damage, blindness, etc.

WHICH ONE IS MORE DANGEROUS?

WHICH IS MORE DANGEROUS? LOW BLOOD SUGAR OR HIGH BLOOD SUGAR? DIABETES MANAGEMENT IS NOT AN IMPOSSIBLE TASK. YOU CAN KEEP YOUR BLOOD SUGAR LEVELS UNDER CONTROL IN SEVERAL WAYS. ONE CAN AVOID EXACERBATING THE ISSUE AND LEAD A HEALTHY AND HAPPY LIFE BY MAKING THE NECESSARY LIFESTYLE AND DIETARY MODIFICATIONS. HOWEVER, THERE ARE INSTANCES WHEN NO MATTER HOW HARD YOU TRY TO KEEP YOUR BLOOD SUGAR LEVELS NORMAL, THEY WIND UP BEING TOO HIGH OR TOO LOW. LET US TRY TO COMPREHEND WHAT HIGH AND LOW BLOOD SUGAR LEVELS ARE, AS WELL AS THEIR POTENTIAL CONSEQUENCES AND TREATMENTS. ow blood sugar levels, also known as Hypoglycaemia, occurs when there is insufficient sugar level in the blood, making it difficult for the body to operate normally. Diabetes-related side effects are the most prevalent cause of low blood sugar. However, it might also be related to: Eating less after taking diabetic medicine Exercising more than usual A rare likelihood of a tumour producing more insulin. Endocrine disorders Low blood sugar levels can cause both short-term issues such as disorientation and dizziness, as well as long-term consequences such as coma or even death. If your blood sugar is less than 70 mg/dL, you should start treating yourself SEASONAL MAGAZINE

immediately. High blood sugar or Hyperglycaemia occurs when people have high blood sugar in their bloodstream. Blood glucose levels higher than 7.0 mmol/L (126 mg/dl) when fasting Blood glucose levels higher than 11.0 mmol/L (200 mg/dl) 2 hours after meals

CAUSES OF HYPERGLYCAEMIA INCLUDE:

Inadequate usage of insulin or diabetes medication Not eating a proper diabetes diet Being inactive Having an infection or illness Short term effects of Hyperglycaemia include nausea, vomiting, shortness of breath, dry mouth, among others. Long

“The brain cells stop working without glucose, thus making hypoglycaemia more dangerous than hyperglycaemia & it needs immediate intervention. A person with diabetes must always carry sugar sachets/ glucose tablets with him all the time for immediate response. Also, a band may be tied on one's wrist to signify that person has diabetes. This can help in an emergency,” says Madhuparna Pramanick, BeatO Health Coach. Some people are afraid of low blood sugar levels, while others are afraid of high blood sugar levels. If the range is not normal, it is dangerous regardless of whether you have low or high blood sugar levels. Low blood sugar symptoms are severe because they act as an emergency alarm that our bodies generate to help save ourselves. Low blood glucose levels in the absence of ketones can be fatal. High blood sugar levels cause long-term vascular damage, and the presence of high levels of ketones can potentially cause severe ketoacidosis. Most blood sugar reactions are managed by eating meals on time, taking diabetes medicine, and testing blood sugar more often. For type 2 diabetics there is not enough insulin production by the pancreas therefore they might need to consider additional insulin boosts to maintain blood sugar levels. It is advisable to talk to your doctor or health coach (diabetes educator) to guide you regarding the same.

HEALTH

INCREASED SCREEN TIME CAN CONTRIBUTE TO STROKES IN THE YOUNG

“The young generation is infamous for being glued to their mobile screens, which increases the risk of a stroke. Blue light from screens reduces melatonin production (the hormone released at night associated with control of the sleep-wake cycle or the circadian rhythm), which makes it difficult to sleep and wake up on time,” says Dr Yeole.

THE PANDEMIC CAN BE BLAMED FOR "PUSHING US INTO A SITUATION WHERE MOST WORKING ADULTS AND CHILDREN ARE REQUIRED TO STICK TO THEIR SCREENS FOR PROLONGED HOURS", SAYS A DOCTOR. Nowadays, as people work from home, they begin and end their day with a gadget. We are so dependent on technology that from the moment we open our eyes in the morning, we begin to scroll through our phones, respond to work emails, check social media, etc. But, have we ever paused to wonder what this lifestyle is doing to our health? A 2021 study published in the Stroke Journal of the American Stroke Association stated that adults under 60, with increased screen time exposure and sedentary lifestyles, are more prone to a stroke than those who are physically active. Data from the World Stroke Organization (WSO) states that one in four persons may suffer a stroke attack in their lifetime. According to a recent study of The Lancet Global Health, noncommunicable neurological disorders’ contribution in India doubled to 8.2 per cent in 2019 from 4.0 per cent in 1990,

with stroke leading the charts. Dr Ujwal Yeole, consultantneurosurgeon, Fortis Hospital Kalyan, says there is a link between increased screen time and stroke. “A US study highlighted that one’s life expectancy reduces by up to 22 minutes for every hour of digital screen time. It makes the person more prone to a stroke and various heart ailments, cancer, etc. Another UK-based study showed the possibility of a stroke was significantly high with continued 2-hour exposure to digital screens (laptop, TV, cell phone, etc.). Beyond two hours and in cases of addiction, the chance of a stroke increases by 20 per cent,” he says. The doctor blames the pandemic for “pushing us into a situation where most working adults and children are required to stick to their screens for prolonged hours, either for work or academics”.

Leading such a lifestyle also makes an individual vulnerable to other diseases like obesity, diabetes, heart conditions, etc. These are all interlinked: * A person with diabetes is twice as likely to suffer from a stroke, as the damaged blood vessels hasten the onset of ischemic stroke (happens from a blood clot blocking or narrowing the artery to the brain). * High LDL (bad cholesterol levels) initiates the build-up of plaque in the arteries, which ends up restricting blood flow to the brain, thus leading to a stroke. * Hypertension is the cause for approximately 50 per cent of ischemic strokes, increasing the threat of hemorrhagic stroke (brain bleed). The doctor suggests some lifestyle changes: – It is necessary to take an hour-long walk every day to negate the ill effects of physical inactiveness. – Exercise daily for 30 minutes and inculcate the habit in your children. – Limit your screen time and take frequent breaks from work. SEASONAL MAGAZINE

IN-FOCUS

IS KALYAN GETTING READY TO BRING ‘KALYAN’ TO ITS INVESTORS? SEASONAL MAGAZINE

The word Kalyan in itself is a proxy to the vastness & diversity of India and the potential for growth it encapsulates. For instance, in most of India, especially in the Hindi speaking areas, ‘Kalyan’ means welfare or wellbeing, and is heavily used in naming schemes for prosperity. In South India, especially in Kerala, the word Kalyan is more synonymous with marriage or the wedding ceremony. But Kalyan Jewellers gets its name from none of these, but from the name of its Founder, Chairman & Managing Director, TS Kalyanaraman. But as the pandemic is waning, the company may be finally getting ready to bring Kalyan or prosperity to its investors and be a wealth creator, as its recent Q2 business update shows.

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IS KALYAN GETTING READY TO BRING ‘KALYAN’ TO ITS INVESTORS? Kalyan Jewellers had its much-awaited IPO during March 2021 and listed towards the end of that month. Unfortunately, its market debut failed to live up to the promise, as it happened amidst the growing concerns of a second wave of the pandemic. And as the concerns proved real in the coming weeks and months, with lockdowns and strict controls across most urban areas across India, the newly listed stock went for a nap. The Kerala headquartered jeweller was especially affected, as its home state had a very difficult time battling the second wave, which prolonged the reopening of the retail sector. Moreover, Kalyan’s Middle East business also got affected as there it was a double whammy of the second wave as well as the impact of travel restrictions from Kerala to Middle East. Due to the lacklustre listing and the subsequent sluggish trading, another strange thing too happened. The Indian stock market which had been disillusioned so far with jewellery stocks in general, came to regard Kalyan too as another such jewellery stock. But again, like how the word meaning of Kalyan is vastly different across India, the so far listed smaller players are no match for Kalyan Jewellers which is one of the largest India-based jewellery retailers across the country and Middle East, and backed by Warburg Pincus, one of the largest PE funds in the world. While all the top fund-houses and analysts know such inner details, markets need proof in the form of hard numbers, and fortunately for Kalyan Jewellers and its investors, such figures have now come in the form of Q2 business updates. For the quarter ended September 30 2021, Kalyan Jewellers’ India revenue jumped by 60% compared with the corresponding period last year. This is a remarkable performance as some weeks of this quarter were affected by pandemic curbs especially in its home turf of Kerala. No wonder then that the market cheered the business update by adding 11% to the stock’s value. Kalyan had also attracted new customers at a brisk pace throughout the quarter, and the jeweller attributes it to customers moving up from the unorganized SEASONAL MAGAZINE

retailers to the organized sector, which has been an on-going phenomenon in the industry, and a key driver of sustained growth in organized jewellery chains like Kalyan. A key metric that the market watches while assessing a retail chain’s performance is the same store sales growth. This measure shows the organic growth possible from the existing chain, without taking into account the sales spurts possible by adding new stores. Kalyan recorded a same store sales growth of 70% in non-south markets, while in south markets it was 40%. This was partly due to the stricter and longer Covid curbs in Southern India, but goes on to prove that when firing on all engines, the jeweller can attract growth to an equal or higher degree in nonsouth markets. During the quarter, 92% of their showrooms were operational compared to 88% during the same period in the previous year. However, as of September 30, 2021, 100% of Kalyan showrooms have become operational. And overall same store growth for Kalyan has come in at an impressive 50%.

When it comes to the overall revenue growth in India, it has been even more broad-based across geographies. Even while 80% of newly opened showrooms in the current financial year are in south India, non-south markets recorded a revenue growth of around 70% and south markets recorded a growth of around 60%. Despite being a fiscal marred by the unprecedented second wave of the pandemic, the hunger for growth in Kalyan’s DNA was evident. It added one new showroom during the quarter, thereby taking the total stores opened during the first half of the current financial year to 10. It will soon be expanding its footprint in Mumbai, by adding showrooms at Lower Parel and Matunga. At the same time, Kalyan which had pioneered the concept of an exclusive and branded online jewellery platform, much before the pandemic struck, reaped rich dividends from it. This online jewellery platform, Candere, recorded a revenue growth of 45% during the quarter, compared to the same period during the last year. In the Middle East, Kalyan witnessed a

significant rebound during the quarter, resulting in a revenue growth of around 60% as compared to the same quarter during the previous year, despite the travel restrictions between India and Middle East, for most of the recently concluded quarter. And this growth was largely same store sales, since Kalyan had not added any showroom in Middle East during the last 12 months. The Sensex having crossed the important milestone of 60,000, institutional investors from across the globe, domestic mutual funds and retail investors are all focusing heavily on Indian stocks, to see whether which are the stocks and sectors than can benefit the most as the country reopens fully. While many sectors are being projected for the same today, like tourism and hospitality for the potential of revenge tourism, many would have missed the scope of jewellery retailing as a reopening theme. Unlike the retailing of staples and durables, which went on more or less during the pandemic, jewellery sales and growth was most severely affected. This is now translating to a revenge splurge on jewellery as diehard fans of gold and

DESPITE BEING A FISCAL MARRED BY THE UNPRECEDENTED SECOND WAVE OF THE PANDEMIC, THE HUNGER FOR GROWTH IN KALYAN’S DNA WAS EVIDENT. diamond ornaments come out with friends n’ family and spend heavily on their favourite designs in the ambience of large showrooms, which is something they couldn’t do for most of the past fiscal. As one of the largest organized retailers of gold and diamond ornaments in the country and Middle East, Kalyan is best positioned to capture a pie of this revenge splurge. This is especially true of Kalyan in the listed space, as apart from Titan / Tanishq, all other listed players as of now are more or less regional players confined to their small geographies. And unlike Tanishq, this jeweller has twin engines of growth, with its mainstay remaining wedding ornaments. In fact, how Kalyan could weather the pandemic with little damage, was due to its focus on marriage jewellery. Even when the Great Indian Wedding went in for a toss during the

pandemic, wedding jewellery purchases remained more or less the same in the country, as gold ornaments is also a store of value in Indian marriages. A key element in revenge splurging on jewellery is the amount of time spent by customers at jewellery showrooms, which provides better opportunities for upselling. Kalyan has reported that during the quarter, this spent time in showrooms has returned to normal. The leading retailer is also on a quest to improve its margins by growing its studded jewellery segment at a faster pace. Consequently, gross margin for the current quarter improved versus the corresponding quarter last year. This was driven by introduction of updates to the existing branded collections of studded jewellery and a return to normalcy in the time spent in its showrooms. A key difference between Kalyan Jewellers and the rest of the listed players (except for Titan / Tanishq) is the branded nature of its operations. It has invested heavily into branding during most of its existence, and especially in recent years, with high profile brand ambassadors including Amitabh Bachchan & Katrina Kaif, the benefits of which are only steadily accruing to the company. Besides this, it runs highly calibrated and imaginative campaigns throughout the year and especially during top seasons, which helps it in attracting and retaining new customers. In other words, Kalyan Jewellers is a large company by way of its ambition, long-term plans and its balance sheet size. These are the qualities that helped it to become the first major exclusive jeweller to attract large scale private equity investments from US and the first such jeweller to go in for its IPO. At the same time, it has significantly reduced its debt using the IPO proceeds. Consequently, the Kalyan of FY’22 has become a leaner and more capital efficient organization that can not only grow steadily, but also provide better returns to investors in the quarters and years to come. SEASONAL MAGAZINE

BANKING

COMING SOON! NEW UNIVERSAL BANKS? At least a dozen large diversified NBFCs are still there in the country, that can transition to new large universal banks, if they wish so and they pass through RBI's now more stringent regulations. In a way, they are being encouraged to do so as on one hand their large size will be inviting bank-like oversight by the regulator, while converting to banks will allow them access to much cheaper capital, access to public fixed deposits and financial stability.

Bajaj Finance, Shriram Transport Finance, Indiabulls Housing Finance, L&T Financial Services, Tata Capital, Piramal Capital, M&M Financial Services, Cholamandalam Finance, Aditya Birla Finance & Housing Finance, Muthoot Finance, Muthoot Fincorp, Manappuram Finance & Edelweiss Finance, are all large NBFCs operating in India, which are bigger than even many banks. And most of them being listed entities of longstanding are reasonably well-run, and if they wish so can make a go at a universal banking licence, which can result in India having a dozen more strong banks in the private sector. The Reserve Bank of India (RBI) on November 26 accepted 21 out of 33 recommendations of an internal working group on the ownership guidelines and corporate structure of private sector banks. For non-banking financial companies (NBFCs) looking to convert into a universal bank, minimum requirement on the track record of the experience of promoting entity, including for a converting NBFC, may continue at ten years, the RBI said. On the eligibility of promoters, the RBI said it may, as part of the framework for scalebased regulation of NBFCs, consider putting in place a tighter, bank-like regulatory framework for large NBFCs. The initial recommendations by the internal working group were - allowing well-run large NBFCs with an asset size of Rs 50,000 crore and above, including those owned by corporate houses, may be permitted to convert to banks provided they complete 10 years of operations and meet the due diligence criteria. SEASONAL MAGAZINE

The central bank has accepted the recommendation for raising the bar of initial capital requirement for the universal bank. As a result, the initial paid-up voting equity share capital/net worth required to set up a new universal bank may be increased to Rs 1,000 crore (from present Rs 500 crore), RBI said. The recommendation around the asset size requirement is still under examination by the central bank. Further, the central bank does not allow corporates to promote banks, but large and well-run NBFCs could also face strict regulation under the scale-based regulation. A senior official at a large NBFC said that top NBFCs seeking banking license would have to decide on the benefits and costs of the transition thoroughly; banking is not just about lending, but the

operating costs and structure are not low and nowhere near as compared to NBFCs. Further, regulatory requirements will also go up with maintaining statutory liquidity ratio and cash reserve ratio, the official added. In addition, NBFCs considering transition will also have to understand the impact on existing stakeholders – from shareholders to customers. Access to public deposits is an attractive factor for NBFCs to apply for a banking license, but regulatory oversight and scrutiny increases, which is good from the RBI’s viewpoint. Analysts feel that while it’s difficult to say which NBFCs could be eligible and may seek license, even if some of the top ones don't seek a license they would be supervised and regulated similar to banks.

HIGHER EDUCATION

HOW

HOW SATHYABAMA MOVES AHEAD, UNFAZED BY THE PANDEMIC ISSUES

dmissions to various courses are now open at Sathyabama Institute of Science & Technology, a leading deemed-to-be university, based in Chennai. These include graduate, post graduate and research courses in engineering, architecture, management, arts & science, law, dental, pharmacy & nursing. To avoid further confusions in this difficult academic year, Sathyabama management led by Dr. Mariazeena Johnson has decided that there won’t be any entrance examinations for this year’s admissions. Instead, the deemed university will rely on plus-two marks, and to ensure greater fair play, transparency & meritocracy, will also give adequate weightage to JEE main scores.

M ABAYHTAS

MOVES AHEAD,

UNFAZED BY THE

Chennai based Sathyabama Institute of Science & Technology, a leading deemed-to-be-university in the country is surprising the higher education sector with its resilience. The credit goes to Sathyabama's three decades rich pedigree, being founded by (Late) Col. Dr. Jeppiar who was a successful politician, bureaucrat, entrepreneur, industrialist and edupreneur. This heritage is giving Chancellor Dr. Mariazeena Johnson and President Dr. Marie Johnson the power and creativity to overcome every hindrance thrown by the pandemic and still emerge stronger. Like a true university destined for greatness, Sathyabama has strong focus on all dimensions that matter, including state-of-the-art digital delivery of academics, premium physical infrastructure, faculty quality, updated curriculum, industry tie-ups, campus placements and applied research. Thanks to such overall performance, this private sector deemed university is today a leader in diverse courses spanning engineering, management, science, pharmacy, dental and other such professional domains.

PANDEMIC ISSUES

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Choosing a well-established university like Sathyabama is important for students in this challenging year as too many things are remaining fluid due to the pandemic and the inevitable

cancellation of the plus two exams. Sathyabama was ranked at the 39th position among Universities in India by NIRF, Government of India, for the year 2020. The stability of academics and operations at Sathyabama is evident from the fact that it has been ranked among the Top 50 Universities for the fifth consecutive year, now. The university also fares well in campus placements with over 90% of students getting placed each year. More than 350 companies recruit from Sathyabama campus now, and the latest round saw 1822 offers. The university classifies its recruiters as Dream Recruiters and Super Dream Recruiters, and as of now there are 100 plus companies in the Dream category and over 25 companies in the Super Dream category. In the latest round, there were 36 Super Dream Offers, with final year student Adarsh bagging the honours of the highest offer at Rs. 41 lakhs per annum from Japanese tech major Diverta. Impressively, apart from students in

the engineering stream, placements are also bagged by students in architecture, dental, management, arts and science streams. Companies that have recruited from Sathyabama include Amazon, ADP, Oracle. Cognizant, Wipro, Human Resocia, Capgemini, Hexaware, Verizon, Pulse Healthcare, LTI, Hitachi, Renault Nissan, DXC, Bonfigioli, Bajaj Auto, Godrej, TCS, NTT Data and many more such names. The university’s success in placements owe a lot to its rigorous approach that includes Online Practice and Assessments, Training Modules including Quants, Verbal, Reasoning, Technical, Soft Skills, Certification Programs, Career Development Programs and Value Added Skill Developments. Training attendance should be at least 90%, and the university arranges for even offcampus interviews after the end of final semester. In tune with the times, Sathyabama is also highly active in the startup domain. Over 18 student startups have been incubated at Sathyabama campuses so far. These startups have been partially funded by Sathyabama and spans products & solutions in technology, healthcare, defence, transportation, farming, drones, waste water treatment, automotive, shielding materials, wearables for Covid patients, seaweed based cosmetics, shrimp supplements, ewaste management, air detoxifiers and more. The university is also highly active in the research field, especially in applied research, with more than 500 patents filed, over 100 patents published, over 90 patents granted and 10 patents having successfully undergone technology transfer. Sathyabama has over 250 sponsored research projects, which are worth Rs. 100 crores. The university has more than 10000 publications indexed in Scopus with an H Index of 72 and around 5000 publications in Web of Science with an H Index of 62.

Sathyabama is home to a Technology Business Incubator (TBI), set up in assistance with National Science & Technology Entrepreneurship Development Board (NSTEDB), a nodal body coming under Government of India’s Department of Science & Technology (DST). This TBI follows best practices by which all student proposals for a startup are scrutinized by an expert committee, followed by presentation of the shortlisted proposals. These future entrepreneurs are also trained to share their concept in five minutes to potential investors, partners and customers. The TBI at Sathyabama provides free incubation support to potential startups and helps them to accelerate towards angel investors. There is also an active Entrepreneurship Development Club working in the campus that conducts workshops regarding various steps in starting a business. Such workshops are led by leaders from the industry, especially from the startup world. There was a time when higher education curriculum, even in engineering and management, was required to be updated every decade or so. But when the pace of technological developments accelerated, many engineering colleges and business schools started updating their curricula every few years. But even this has proved to be inadequate as disruptive technologies and innovations appear every quarter or so. Sathyabama University has effectively tackled this challenge through various measures like industrial collaboration and certification programs. The deemed university has tied up with industry majors including Infosys, Cognizant, Wipro, HCL, Capgemini, Accenture, and more such companies to remain abreast of the latest trends in the industry and thus update their curricula whenever necessary. Sathyabama is also a leader in delivering certification programs in emerging domains and delivers SEASONAL MAGAZINE

HOW SATHYABAMA MOVES AHEAD, UNFAZED BY THE PANDEMIC ISSUES around two dozen such courses in areas like Cloud Computing, Machine Learning & Artificial Intelligence, Internet of Things (IoT), Data Science & Big Data, App Development, Embedded Systems & Robotics, Cyber Security & Forensics, Aircraft & Ground Maintenance etc. Sathyabama is one of the handful of deemed universities to have obtained approval for starting new vocational degrees BVoc and MVoc in domains like software development, hardware & networking, web technologies etc. Sathyabama has emerged as a strong player in research programs, having undertaken research work for various central government organizations and has proved it mettle in entrepreneurial class projects by creating its own satellite that was launched by ISRO Dr. MARIAZEENA JOHNSON, Chancellor Dr. MARIE JOHNSON, President

making it the first university to achieve that feat, a few years back. Sathyabama has significant initiatives in both applied and basic research. During the last five years, faculty and researchers at Sathyabama has been undertaking research for various government agencies with supporting grants. These organizations include cuttingedge organizations like Indian Space Research Organization (ISRO), Department of Science & Technology (DST), National Atmospheric Research Laboratory (NARL), Science & Engineering Research Board (SERB), Natural Resources Data Management System (NRDMS), National Institute of Wind Energy (NIWE), Defence Research and Development Organization (DRDO), Combat Vehicles Research and Development Establishment (CVRDE), Board Of Research In Nuclear Sciences (BRNS), Indian Council of Agricultural

TO AVOID FURTHER CONFUSIONS IN THIS DIFFICULT ACADEMIC YEAR, SATHYABAMA MANAGEMENT LED BY DR. MARIAZEENA JOHNSON HAS DECIDED THAT THERE WON’T BE ANY ENTRANCE EXAMINATIONS FOR THIS YEAR’S ADMISSIONS, INSTEAD BASING IT ON PLUS-TWO MARKS & JEE SCORES. Research (ICAR), and Indian Council of Medical Research (ICMR), among many such organizations. Sathyabama has also launched a next generation laboratory in the campus, which will further boost research facilities in the university. Sathyabama is structured as 10 broad schools, including 5 in engineering and one each for business, law, science/humanities, pharmacy, & dental. Sathyabama’s engineering schools are School of Computing, School of Electrical & Electronics, School of Mechanical, School of Bio & Chemical, and School of Building & Environment. However, these five broad schools deliver 15 engineering degrees including in emerging areas like Mechatronics at the graduate level, while at the post graduate level there are 12 courses including in latest domains like Internet of Things (IoT), Medical Biotechnology, Artificial Intelligence etc. Sathyabama’s School of Science & Humanities similarly delivers 13 graduate programs including in buzzing domains like visual communication, Interior Design and 6 post graduate programs including sunrise sectors like data science, Robotics, Material Science. Research programs are also offered in most domains. Combining these with Sathyabama’s School of Management and School of Law, there is clearly the potential for interdisciplinary work, and students stand to distinctly benefit from this breadth of courses. Sathyabama had rapidly deployed an impressive digital infrastructure as soon as the first wave began and this

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facilities starting from the first year of all courses through to the final years are all modern and without cutting any corners. For instance the School of Computing’s multiple lab facilities include network programming lab, computer graphics and multimedia lab, digital signal processing lab, VLSI simulation and system design lab, linear integrated circuits lab, microprocessor and microcontroller lab, production drawing and cost estimation lab, cluster computing lab etc. Science labs are also comprehensive, including biochemistry lab and plant cell and tissue culture lab. The internet infrastructure is also impressive with a dedicated Internet Leased line of 155 Mbps and a redundancy link of 100 Mbps, connected to all the terminals throughout the campus. Students and faculty are free to access internet over Wi-Fi from locations like library, hostels etc. Sathyabama is accredited by UGC’s National Assessment & Accreditation Council (NAAC) at Grade A. And unlike some of its peers, Sathyabama is also approved by All India Council for Technical Education (AICTE). Sathyabama has put up a consistent performance all through its history, and especially so during the last few years.

has resulted in ongoing academic delivery with not much disruption. The university has been awarded with E Lead (E - Learning Excellence for Academic Digitization) Certification for exhibiting excellence in adopting ICT enabled Teaching and learning through online platforms, by QS. But as soon as the pandemic wanes, the focus will be back on Sathyabama impressive physical infrastructure. Its sprawling campus is noted not only for its impressive infrastructure but for the well-planned systems that make the whole Sathyabama team comprising of staff and students work with clockwork precision and effectiveness.

It is in academic infrastructure that Sathyabama shines even more as no expense has been spared to ensure that its students get the best of classrooms, labs, libraries and auditoriums. The classrooms are spacious and modern with excellent student seating and facilities, and are provided with LCD projectors and smart boards. The lab

THE STABILITY OF ACADEMICS AND OPERATIONS AT SATHYABAMA IS EVIDENT FROM THE FACT THAT IT HAS BEEN RANKED AMONG THE TOP 50 UNIVERSITIES FOR THE FIFTH CONSECUTIVE YEAR, NOW.

Sathyabama has been featured in the prestigious international rating by Quacquarelli Symonds (QS), and has bagged an overall 4-Star QS Rating, with 5-Stars for three criteria – Teaching, Facilities & Inclusiveness – and 4-Stars for Employability and Innovation. Sathyabama has been awarded with Diamond rating by QS I-GUAGE for overall excellence, the rating for Indian universities by QS. Sathyabama is ranked among top universities in the world by Times Higher Education under the category World Ranking, Asia Ranking and Ranking by Subjects. The university has also been ranked in a notable position among World Universities by Times Higher Education Impact Ranking for its contribution towards Sustainable Development. SEASONAL MAGAZINE

BANKING

IDBI BANK’S TURNAROUND he financial year 2020-21 was a milestone year for the Bank as it was back in the black by posting a Net Profit of Rs. 1,359 crore in FY21 after a gap of five consecutive financial years where it reported net losses. Given the unprecedented challenges faced by the Bank, due to the outbreak of the COVID19 pandemic, it was indeed a momentous achievement brought about by the vision of its leadership team as well as the untiring efforts and commitment of its entire workforce. The improvement in the Bank’s financial health in FY 2020-21 also saw the RBI taking it out of the purview of the Prompt Corrective Action (PCA) framework in March 2021. The Bank’s turnaround is a proof of its collective dedication and determination to succeed despite a challenging business and operational environment. Recognising that banks play an essential role in being an enabler for achieving life goals and for being a source of strength in difficult times, the Bank took appropriate initiatives after the outbreak to ensure availability of banking services to all its customers in a seamless manner while ensuring that all COVID-19 mandated protocols were strictly adhered to. The Bank responded quickly and effectively to the demands of the pandemic by ensuring uninterrupted banking services, providing financial relief to the households, ensuring flow of working capital and credit to business and supporting the delivery of the policy measures announced by the Government of India (GoI) and the Reserve Bank of India (RBI) from time to time to the intended beneficiaries. Even as the Bank continued on its intended business strategy by adopting a riskcalibrated approach to lend stability and profitability to its growth, it remained cognizant of the challenges and uncertainties brought to the forefront by the pandemic. Staying true to its envisaged strategic positioning as a retail-focussed bank, the Bank persevered on ramping up its Retail, Agri and MSME (RAM) asset book. At the same time, the Bank continued to consciously limit its corporate exposure to bring about the diversified and granular asset mix. On the liability side, the Bank continued to take measures to boost the SEASONAL MAGAZINE

mechanism in order to closely monitor the onset of stress in the Bank’s portfolio and to prevent slippages in asset quality. Keeping in view the possibility of financial stress on its customers due to the COVID19 induced lockdown/ restrictions, the Bank has been closely monitoring the accounts of borrowers who have opted for the moratorium to ensure regular repayment and thus, avoid stress in the asset quality.

share of its low cost deposits base, i.e. CASA to the total deposit, while reducing reliance on bulk deposits. Tapping into the opportunities of synergy, the Bank continued to liaison with the Life Insurance Corporation of India (LIC) to derive benefits in terms of growth in its retail liability and asset book as well as to augment fee income. These strategic endeavours of the Bank were backed by introduction of new offerings as well as revamping the existing products/ services. Given the restrictions on movement due to the pandemic, the Bank ensured uninterrupted and seamless customer experience across alternate/ digital channels as also added new functionalities to enhance customer convenience. Recognising the need for addressing the asset quality concerns in a sustained manner for securing a stable and profitable future growth path, the Bank intensified its efforts to maximise recovery and upgradation of its delinquent asset portfolio through legal and regulatory routes. To ensure a focussed approach to resolve the existing stress, the Bank set up dedicated teams to drive recovery in its corporate and retail portfolio. In order to mitigate the asset quality concerns going forward, the Bank also strengthened its credit monitoring

THE BANK’S TURNAROUND IS A PROOF OF ITS COLLECTIVE DEDICATION AND DETERMINATION TO SUCCEED DESPITE A CHALLENGING BUSINESS AND OPERATIONAL ENVIRONMENT.

The pandemic, which started over a year ago, has been a learning experience for everyone as it held the lesson that one must look for opportunities in every challenge. The Bank has not only realigned itself to the ‘new business normal’ but has also launched a number of innovative products and services, especially in the digital space, to cater to the emerging business and customer requirements in a safe and secure manner. On the business front, exiting from the RBI’s PCA framework has unlocked huge potential for the Bank. This will enable the Bank to undertake a wide-range of banking activities, which will aid in further boosting its business performance. The Bank will continue to remain committed towards its strategic objective of positioning itself as a retailoriented bank with emphasis on augmenting the share of retail on both asset and liability sides. Further, the Bank will cautiously explore avenues to grow its corporate credit book, especially in the mid-sized units, in a risk-calibrated manner. Since the muted operating environment clouds the outlook for the lending activity, the Bank will also focus on maximising fee income by tapping into sale of third party products as well as rendering non-fund based services. At the same time, to boost the bottom-line, the Bank will take measures to minimize its operating expenses and increase productivity. To ensure a focussed approach towards these business objectives, the Bank has, over the years, taken steps to put in place an appropriate organisation structure to drive its strategic vision. Going forward, the success of the Bank’s strategy up till now has strengthened its resolve to conquer new horizons. Being cognisant of the elevated risks in the operating environment, the Bank will consciously take steps steps to remain strong and resilient in face of the challenges and be future-ready to tap the emerging opportunities.

SHOCKER Chandigarh (10.9 percentage points to 30.4%) Tamil Nadu (9.7 percentage points to 36%). C- section rates rose from 11.9% to 14.3% for public health facilities across the country. At the other end of the spectrum is Bihar, which has only 4% C-sections in public health facilities, indicating inability to provide critical care to prevent maternal and infant deaths. There are different factors at play for the rise in caesarean operations in private hospitals and in public hospitals, say experts.

50% OF DELIVERIES IN INDIAN PRIVATE HOSPITALS FOUND TO BE THROUGH CAESAREAN SURGERIES? One in two women in private hospitals undergo C-section, shows NFHS data. ccording to WHO, the ideal rate of C-section deliveries is between 10% and 15%. But one in two women who go to a private hospital undergoes a Caesarean section (C-section) to deliver a child, according to the latest National Family Health Survey (NFHS) data. The increasing trend in private medical facilities, which have seen a rise in such operations from 40.9% to 47.4%, has led to a jump in pan-India numbers with total C-sections increasing from 17.2% in 2014-2015 to 21.5% in 2019-2020, according to NFHS-5. This means that one in five women who go to any medical facility, private or public, undergoes a C-section. When medically justified, a caesarean section can effectively prevent maternal and perinatal mortality and morbidity. According to WHO, the ideal rate of Csections is between 10% and 15%. When the rates rise towards 10% across a population, the number of maternal and newborn deaths decreases. When the rate goes above 10%, there is no evidence that mortality rates improve. There are many States and Union

Territories where private hospitals conduct seven or eight out of 10 deliveries through C-section. These include West Bengal (82.7%), Jammu and Kashmir (82.1%), Tamil Nadu (81.5%), Andaman and Nicobar (79.2%) and Assam (70.6%). While many of these States have had a poor record in the past too, there are many others that have seen a big jump in such surgeries. These include Assam (17.3 percentage points increase to 70.6%), Odisha (17 percentage points 70.7%), Punjab (15.8 percentage points to 55.5%), Tamil Nadu (12.5 percentage points to 63.8%) and Karnataka (12.2 percentage points to 52.5%). As many as 26 States and UTs have shown a rise in surgeries in private hospitals. C-section deliveries have also increased in public hospitals, but this could partly be due to an increase in institutional deliveries in such facilities from 52.1% in 2014-2015 to 61.9% in 2019-2020. States with the biggest surge across public health facilities were Sikkim (12.3 percentage points to 30.4%), Punjab (12.1 percentage points to 29.9%), Goa (11.6 percentage points to 31.5%),

Women having babies at a later age, increase in in-vitro fertility and sedentary lifestyle of mothers are some of the reasons for the rise in these operations. "There are also caregiver and hospital factors. Doctors doing solo-practice and delivering 20-25 babies in a month can't stay awake in the night so they prefer to schedule an operation. As far as corporate hospitals are concerned, there is an emphasis on more numbers and doctors spending 20-30 days on 10 deliveries is frowned upon," says Dr Rinku Sengupta Dhar, Consultant and Head, Maternity Programs, Sitaram Bhartia Hospital. Public hospitals see a rise in C-sections because of poor doctor-patient ratio and concentration of high-risk pregnancies at one place with less doctors and less caregivers. Different interventions are needed for public and private hospitals as well as for different parts of the country, says Subashri Balakrishnan, member, Common Health- a coalition for maternal health and safe abortions. "C- section audits must be strictly enforced in public hospitals, whereas in private sector there is a need to check widespread commercialisation by regulating medical practices and costs. But there are also States with an unmet need for C- sections where they are needed to prevent maternal deaths and poor foetal outcomes. For example, Bihar has only 4% C-sections in public hospitals. Such States need an overall improvement in the health system such as more number of anesthetists and specialists, blood banks, etc."

(Credit: The Hindu) SEASONAL MAGAZINE

NUTRITION

WHY PAPAYA IS NOT THE BEST FRUIT FOR MANY Loaded with dietary fiber, vitamins and minerals, papaya is one of the most nutrientdense fruits. The sweet and vibrant colour fruit, is now available at most times of the year. Have it ripe or add it raw in your salad, papayas can provide you with some amazing health benefits. Eating it regularly in the morning or between mealtime to curb untimely hunger can decrease the risk of heart disease, diabetes, cancer, lower blood pressure, and help you maintain a healthy weight. Even though papayas are extremely healthy, they might not be safe for consumption for all. People suffering from some specific conditions must avoid adding papaya to their diet.

Pregnant women

Eating healthy is important for the growth of the baby and the health of a pregnant woman. But papayas are one fruit that should be left out from this list. The sweet fruit contains latex that may trigger uterine contractions, leading to early labour. It contains papain which is mistaken by the body for prostaglandins, which is used artificially to induce labour. It may even weaken the membrane that supports the fetus. It mostly happens in the case of semi-ripe papaya.

People with irregular heartbeat

Eating papayas can reduce the risk of heart-related ailments, but if you are already suffering from the problem of irregular heartbeat, it is better to avoid papaya for good. A study suggests that papaya contains a small amount of cyanogenic glycosides, an amino acid that can produce hydrogen cyanide SEASONAL MAGAZINE

in the human digestive system. Though the amount of compound produced is not harmful to health, excess of it can worsen the symptoms for those suffering from the problem of irregular heartbeat. It may also have the same effect on people suffering from hypothyroidism.

People with allergies

People diagnosed with latex allergy may also be allergic to papaya. That happens because papaya contains enzymes called chitinases. The enzyme can cause a cross-reaction between the latex and the food that contains them, leading to sneezing, breathing difficulty, coughing and watery eyes. Some people may even find the odour of ripe papaya unpleasant.

People with kidney stones Papaya contains an excessive amount of vitamin C. The nutrient is a rich antioxidant, but an excess intake of this

nutrient by those already suffering from the problem of kidney stones can worsen the condition. Too much intake of vitamin C can lead to the formation of calcium oxalate kidney stones. It can even increase the size of the stone, making it harder to pass it through urine.

People with hypoglycemia Papaya is the preferred fruit for those suffering from diabetes as it helps to manage the blood sugar level. But it might not be a great option for those already suffering from the problem of low blood sugar or hypoglycemia. That's because the sweet-tasting fruit contains anti-hypoglycemic or glucose-lowering effects. It may take the blood glucose level to a dangerous level in people suffering from hypoglycemia, leading to problems like confusion, shakiness and a fast heartbeat. (Credit: ToI)

INVENTION

A WEEKLY DOSE OF RED LIGHT MIGHT IMPROVE AGING EYESIGHT! People given the low-cost therapy in the morning performed noticeably better on tests of their color vision. hree minutes of staring into a red light once a week may help our eyesight as we get older, new research this week suggests. Researchers in the UK found that volunteers given a weekly session with red light in the morning performed better on tests of their color vision. The findings are the latest to indicate that red light might be a cheap and easily accessible treatment for age-related declines in color vision.

who received the therapy were given it in the morning. Some also received it in the afternoon as part of a later experiment, and others acted as a control group. They were then evaluated on their color vision, based on tests of distinguishing color contrast, up to a week later.

practicability of the treatment, since a once-weekly staring session is easier to stick to than a daily regimen. But the team’s promising results are still based on very small sample sizes of healthy volunteers. Larger trials would be needed to confirm any benefits of red light therapy.

Overall, those who got the treatment in the morning showed a 17% improvement in their color vision on average, even a week later. Those who

Even the authors acknowledge that there are still many questions left to be answered. Some of their volunteers, for instance, had a significantly greater

got the treatment in the afternoon did not have any improvement, likely due to changes in how mitochondria reacts to light over the course of the day that the team’s past research has documented. The new study’s findings are published in Scientific Reports.

response to the treatment than others, even among those similarly aged, suggesting that there might be unique factors that predict how well the therapy works for any one person.

Last year, researchers from University College London published the results of a small human trial involving red light therapy. Healthy volunteers were asked to stare at a red light “torch” using their dominant eye for three minutes every day for two weeks. Tests afterwards found that people over the age of 40 improved on tests meant to measure how well they could see contrast between colors - a function of the retina’s cones. Lead author Glen Jeffery told Gizmodo at the time that the findings provided a proof-of-concept for their theory. Mitochondria are the part of the cell that produces most of its energy. But as we age, the retina’s mitochondria begin to break down faster than elsewhere, which is thought to contribute to the decline of our retina, particularly our cones, and the gradual loss of our ability to see color. “However, mitochondria absorb some forms of light, including deep red, and this recharges the battery, improving cell function—this works well in the retina because they have so many mitochondria. Hence we use this to improve vision,” explained Jeffrey. This new research of theirs wanted to test the possible limitations of their therapy. Instead of using the light every day, they scaled it back to once a week. And they opted for a lower-energy light as well. The same wavelength of deep red light (670 nanometers) was used. The study involved 24 people between the ages of 34 and 70, all with healthy vision. Most

“We demonstrate that one single exposure to long wave deep red light in the morning can significantly improve declining vision, which is a major health and wellbeing issue, affecting millions of people globally,” said Jeffrey in a statement from the University College London. The findings do support their earlier work, and they might improve the

“In the near future, a once a week threeminute exposure to deep red light could be done while making a coffee, or on the commute listening to a podcast, and such a simple addition could transform eye care and vision around the world,” Jeffrey said in the University College London release. Given its low cost (as little as $15 per device) and simplicity though, the team is excited about the potential of their therapy, should the research continue to pan out. SEASONAL MAGAZINE

BUSINESS

IN A WORLD RUNNING AFTER VALUATIONS, AN ENTREPRENEUR LIMITING HIS VALUATION Even while every company and startup out there are trying every trick in the trade to boost valuations, Zerodha, India's largest broker self-values itself at only $2 billion. Founder Nithin Kamath explains why the company is conservative in valuation.

zero strike price (no cost) and top of the liquidity preference. Every year the number of new ESOPs issued is greater than that of ESOPs bought back. ESOP buyback is optional and the company also has a loan scheme where its team can take loans at around bank Fixed Deposit rates against the vested ESOPs, Kamath added. "Our ESOP buyback is from the profits we carve out & not through external fundraising. This is so that everyone can focus on profitability which improves the odds of us being sustainable & resilient in the long run. The ESOPs will then truly be a retirement fund for everyone," he further explained. Now to the real reason behind his conservative stance when it comes to valuations. "I've been in the markets across multiple cycles to know that what happened last 18 months was an outlier. There is no easy money to be made in the markets in the long run. When the going gets tough, greed disappears and with that trading activity, volumes & inflated valuations," he further added.

Nithin Kamath, co-founder and CEO of discount brokerage firm Zerodha recently revealed the company's conservative approach to valuation. Kamath took to social media to explain why the company values itself at $2 billion. The Zerodha CEO, in a series of tweets explained the company's approach to valuation. "I keep getting asked why are we valuing ourselves at just $2 billion currently when smaller players are raising money at far higher valuations. Here is why we're conservative," Kamath wrote. He started by a backgrounder on Zerodha's ESOPs. "The only reason why we do a valuation exercise at Zerodha every year is for our ESOP buyback. We SEASONAL MAGAZINE

don't promise ESOPs for anyone on our team. Frankly, we never thought we were building something that could become so valuable. So we never thought of ESOPs. But around 2017 when the business started growing, we created an ESOP scheme to share the success," he said. Kamath further added that the company offers ESOPs to employees who have completed one year with the company. "This is to be sure if they are with us for the right reasons. We tell everyone to think of the ESOP scheme as their retirement fund which will compound over the long term if we do well working together as a business," he explained. He clarified that all ESOPs come with

The Zerodha CEO added that if the markets were to remain subdued for a few more weeks, activity for all capital market participants will be down by at least 30 per cent. "It doesn't matter even if the product is made in heaven. Our business is cyclical & highly correlated to the markets," he wrote. "We want ESOPs to be like a low volatility retirement fund because this would probably be a large chunk of the networth for many on the team. Valuation ups and downs can be mentally taxing," he further wrote, adding that since the company does not plan to raise external money, they thought that around 15 times that PAT was a fair value." This translates to a P/E of just 15 times and now the only thing to be known is whether Zerodha will continue to be conservative in valuations if and when it goes for its IPO! Separately, Nithin Kamath who is known to speak his mind, said that 'buy now pay

later' (BNPL) in stocks may not be good idea for retail investors. He said trading in such BNPL methods not only puts the investor at a greater risk of losing money but also increases the volatility in the market.

AMAZON ALLEGES $1.5 BILLION DIVERTED FROM FUTURE RETAIL Future Retail Ltd. had allegedly transfered Rs. 7000 crore in the year ended March 2020 as a capital advance to a company controlled by its founder Kishore Biyani.

In a series of tweets, Kamath highlighted the risks of margin fund trading and the practice of using stocks as security for a loan. The entrepreneur wrote that trading in such BNPL methods not only puts the investor at a greater risk of losing money but also increases the volatility in the market. Kamath said that trading in shares with full money upfront allows investors to hold on to their investment for a longer run in case of a market dip. There’s no external pressure to liquidate investment which ultimately will add to the market’s volatility. Kamath lauded market regulator Security and Exchange Board of India (SEBI) and new age stock brokers for not bringing schemes promoting margin trading. He, however, also shared a concern that if one broker starts offering the BNPL option, others will be forced to follow due to the competition in the segment. “Using this as a hook to generate revenue will not be right for the customers,” he wrote. He hoped that broking business like others doesn’t morph into a lending business to recover the very high cost of acquiring a customer. Kamath’s advice for retail investors came on a day when the Indian stock market recorded its sharpest dip in months. Equity index Sensex fell 1,170 pints due to the loss in shares like Reliance Industries, Kotak Bank, Bajaj Finance and others. Sensex closed at 58,465 points after recording a 1.96 per cent fall. NSE Nifty also recorded a similar trend and closed at 17,416.55 points after recording 348.25 points of a 1.96 per cent dip. Kamath along with his brother Nikhil is the richest self-made Indian billionaire under the age of 40 with a wealth of around Rs 24,000 crores. the duo founded Zerodha back in 2010 and a decade later, the company became a unicorn with a self-assessed valuation of over $1 billion.

Amazon.com Inc., which is trying to block Reliance from taking over the struggling retail chain, fired a fresh salvo by alleging that money from the local firm was possibly diverted to other companies. Future Retail Ltd. allegedly transfered 7000 crore rupees ($939 million) in the year ended March 2020 as a capital advance to a company controlled by its founder Kishore Biyani and as payment for goods and services purchased from the related firm, Amazon said in a letter seen by Bloomberg News. Future Retail also allegedly created unusual rental security deposits and made advances to suppliers worth a total 43 billion rupees the same year, even as business slumped and it was shutting stores, Amazon said. "Significant amounts may have been diverted from Future Retail," Amazon said. By unwinding at least part of these transactions, Future Retail can "immediately partially repay outstanding debt owed to banks and creditors to ensure business continuity and survival," it added. However, according to Future Retail, the transactions were part of the public disclosures made by the company as part of standard governance practices, and that there is nothing new that is being brought to the notice, except for false speculations being created out of

selective excerpts. The US giant marked a copy of its letter to the finance minister, central bank governor, capital markets regulator and other authorities, seeking an investigation. A probe would risk delaying the planned takeover of Future Retail by Mukesh Ambani's Reliance Industries Ltd., making it harder for the tycoon to increase his footprint. Ambani and Amazon are locked in a battle for dominance of the world's biggest market that's open to foreign competition, with the tussle playing out in courts in India and abroad, as well as across the country's regulators. The letter, dated Nov. 24, comes as India's antitrust authority is hearing a petition from Future Retail to revoke regulatory approval of a 2019 deal between one of its group companies and an Amazon unit, saying the American retailer lied to the regulator. Amazon says Future Retail's plan to sell its stores to Reliance - Amazon's rival - violates the 2019 partnership contract, while the indebted Indian group says it would collapse if the transaction fails. In a related development, India's Enforcement Direcotrate (ED) has issued summons to Amazon's and Future Retail's chief executives in India in connection with a probe on financial irregularities in their deal. SEASONAL MAGAZINE

NEWS-IN-FOCUS FUTURE YAHI HAI: COINDCX IN NEW AD FILM AIMED AT CRYPTO AWARENESS

JAMES TYLER, WHO PLAYED GUNTHER IN 'FRIENDS', DIES AGED 59 DUE TO PROSTATE CANCER

FACEBOOK STRUGGLES WITH HATE SPEECH, CELEBRATIONS OF VIOLENCE IN INDIA: REPORT

CoinDCX, which claims to be India's safest crypto exchange, has announced the launch of its mega campaign 'Future Yahi Hai'. In a series of ad films, the campaign will feature multiple celebrities. CoinDCX hopes to dispel all myths about crypto as an asset class and educate people about how simple and safe it is to invest in. Use code SHORTS100.

Actor James Michael Tyler, who played Gunther in 'Friends', passed away aged 59 due to prostate cancer. Tyler was first diagnosed with cancer in 2018, but kept his diagnosis private for three years. He had also acted in 'Sabrina the Teenage Witch', 'Scrubs', 'Modern Music' and 'Just Shoot Me!' among others. He is survived by his wife, Jennifer Carno.

Facebook's internal documents show "a struggle with misinformation, hate speech and celebrations of violence" in India, with Facebook researchers noting there are groups "replete with misleading" communal content, the New York Times reported. The internal documents included details on how fake accounts linked to political parties were wreaking havoc on India's national elections, the report said.

90-YR-OLD SHATNER WENT HORSE RIDING WITH BEZOS BEFORE FLYING TO SPACE Actor William Shatner went horseback riding with Blue Origin Founder Jeff Bezos, 24 hours before flying to space on the company's spacecraft, Pedego Electric Bikes' CEO Don DiCostanzo said. "They became really good buddies from what I could tell," he added. Shatner and Bezos spent the day on the billionaire's ranch after the launch was delayed due to high winds.

RICKSHAW PULLER GETS TAX NOTICE ASKING HIM TO PAY Rs 3 CRORE IN UP, FILES COMPLAINT A rickshaw puller in Uttar Pradesh's Mathura has filed a police complaint claiming fraud after he was served an income tax notice asking him to pay over Rs 3 crore. Pratap Singh said officials told him someone impersonated him and obtained a GST number in his name for running a business and the turnover of the business for 2018-19 was Rs 43,44,36,201.

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C'GARH VILLAGE TEACHERS WALK 8 KM TO ENSURE MID-DAY MEAL RATION

UP RELEASES Rs 159.29 CRORE ASSISTANCE FOR 4.77 LAKH FLOODAFFECTED FARMERS

Teachers in a village in Chhattisgarh's Balrampur have been walking 8 km daily across different terrains carrying ration on their shoulders to ensure that students get mid-day meals at a government school. "The roads are very bumpy...There is also a threat from wild animals," a teacher said. "We request government to build a road to the village," the teacher added.

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday released Rs 159.29 crore assistance for 4,77,581 farmers in 44 districts of the state which were affected by floods. The government has dispensed the relief package after assessing the crop losses, as per an official statement. A loss assessment of Rs 180 crore was done, government officials said.