Archive: December 1, 2021

Edelweiss Mutual Fund to launch third tranche of ‘BHARAT Bond ETF’ on 3rd December 2021

Mumbai, December 1, 2021: Edelweiss Asset Management today announced the launch of the third tranche of BHARAT Bond ETF starting from 3rd December, after the successful launch of 4 ETFs in last 2 years. The BHARAT Bond ETF program is an initiative of the Government of India, from the Department of Investment and Public Asset Management and the latter has given the mandate to Edelweiss Mutual Fund to design, launch and manage the product.

This new BHARAT Bond ETF and BHARAT Bond Fund of Fund (FOF) series will mature on 15th April 2032. NFO will start from 3rd December 2021 and end on 9th December 2021. Through the launch of this new series in third tranche, Edelweiss Mutual Fund proposes to raise an initial amount of Rs. 1,000 crores with an open green shoe option.

Tuhin Kanta Pandey, Secretary, DIPAM, Ministry of Finance said, “BHARAT Bond ETF program has achieved some important objectives that were envisioned while creating the blueprint of this program. It has provided aggregate savings in borrowing cost for participating CPSEs/CPSUs/CPFIs. It has provided easy access to investors into bond markets, especially retail investors who are looking alternative to Fixed Deposit. Further, adequate Liquidity on the exchange is encouraging investor participation and helping in deepening the bond markets. BHARAT Bond ETF program has led to promising impact on the overall Debt Passives landscape in India with many other AMCs also launching similar target maturity ETFs and Index Funds in the recent times. The organic increase in AUM of existing BHARAT Bond ETFs in the last 2 years resembles investor’s confidence in the product and we are very happy with its overall impact on the market.”

Radhika Gupta, CEO, Edelweiss Mutual Fund said, “We are excited to see the growth of Passive Debt category in India, post the launch of Edelweiss MF Bharat Bond ETFs. Around 20 new passive debt funds have been filed and 9 passive debt funds have been already launched by different AMCs post the launch of BHARAT Bond ETF in Dec 2019. The total AUM of this category has reached around Rs. 50,000 cr. as on October 2021 and Edelweiss AMC is a leader in this space with more than 80% market share. With this new launch of BHARAT Bond ETF, we now have five maturities on the yield curve – 2023, 2025, 2030, 2031 and 2032 which will help investors to choose the right maturity according to their needs. We are happy to see a healthy demand from investors for these ETFs in the current environment where safety is paramount.”

The ETF will invest in constituents of the NIFTY BHARAT Bond Indices, consisting of AAA rated public sector companies. BHARAT Bond Fund of Funds (FOF) with similar maturities will also be launched for investors, who do not have Demat accounts. The BHARAT Bond ETF AUM stood at Rs 36,359 Cr. in the end of October 2021.

Genesys Earns 2021 Great Place to Work Certification

BENGALURU, November 30, 2021– Genesys®, a global cloud leader in customer experience orchestration, today announced that it has been Certified™ as a Great Place to Work® in the United States. As the global authority on workplace culture, Great Place to Work recognizes organizations that go above and beyond for their employees based on what current employees say about their experiences. According to a survey conducted in connection with the certification, overall, 88% of Genesys employees said it’s a great place to work — 29% higher than the average for US companies.

Over the last two years, under the helm of CEO Tony Bates, Genesys has undergone a transformation that has re-energized its culture as the organization pioneers the Experience as a Service^SM market. This means fostering an environment in which people not only look at things differently, but also do things differently. The company believes that the best way to achieve this shift is through a culture of inclusion, rich with unique perspectives, where every employee is empowered to bring new ideas to the table, feels safe to voice when they believe something isn’t working and sees opportunities to grow.

Genesys employees overwhelmingly recognized the company for its inclusive culture, with more than 90% of employees reporting they felt they’re treated fairly, regardless of sexual orientation, race, gender or age. The results reflect the company’s focus on empathy, which underpins why employees feel valued and excited to watch their efforts have a significant impact on advancing the company’s mission. Genesys believes its culture is central to delivering empathetic customer experiences — and that’s evident in the company’s record-setting fiscal year 2021 and continued momentum.

“Our people are at the heart of our success, and we’re committed to fostering a culture that enables them to thrive,” said Eva Majercsik, Chief People Officer at Genesys. “At Genesys, we’re focused on cultivating an environment where individuals feel seen, heard and understood. That’s how we help drive the passion, purpose and engagement of our employees and how we’re able to go big for our customers every day.”

Other highlights from the employee survey include:

• 92% of employees felt new hires are made to feel welcome when joining the company
• 91% of employees are proud to tell others they work at Genesys
• 90% of employees believe people care about each other at Genesys

Genesys is a Great Place to Work worldwide, with certifications in the United States, Australia, Brazil, Ireland, Japan, New Zealand and the Philippines, as well as five consecutive years in India, where the company was also named a Best Place to Work for Women in 2020 and 2021.

At Genesys, more than 6,000 employees are building careers and defining the future of customer experience. Learn more about life at Genesys and open roles here.

Ariel University & University of St. Petersburg hold the world’s first conference on “Autoimmunity, COVID and Post-COVID”

Last weekend, the world’s first conference on autoimmunity, COVID and Post-COVID international congress was held. The two-day conference was held in collaboration between Ariel University and the University of St. Petersburg, where the conference was held and the first Russian Post-COVID Clinic was instituted.

The conference discussed mechanisms by which the virus causes multiple autoimmune symptoms, as well as the consequences of the virus on the infected several months after recovery. The conference featured experts from around the world who hold specializations in infectious diseases and autoimmune symptoms.

The conference was chaired by Professor Yehuda Shoenfeld, President of Ariel University, and Professor Leonid Churilov, an expert researcher in pathophysiology, research partners with thanks to a prestigious grant from the Russian Federation Government.

Homes and Offices In Pandemic Times – How Much Has Changed?

By Anil Pharande, Chairman – Pharande Spaces

To say the least, the Covid-19 pandemic has brought a lot of change into the lives of all Indians. The lockdowns were intimidating and made us take a fresh look at our relationships with our homes – and offices.

Once it took hold, the fear of infection was a serious deterrent to leaving home for any reason. Companies had to offer the work-from-home option, which took Indians quite a bit of time to get used to.

Over the course of 8-10 months, many Indian companies were surprised to find that WFH works better than expected. The acute phase of the pandemic lasted well over 18 months, and this was long enough to bring about profound changes in habits and perceptions. A lot of Indians became used to and quite comfortable with working from home.

When the time has finally come to go back to office work, some resistance is natural. By now, Indians’ relationships with their homes and workplaces have changed a lot. Many employees would prefer to continue to WFH. As a sort of compromise, some companies are offering the ‘hybrid’ model of working – working partly from home and partly from the office.

This is a huge change to take place in less than two years. Until the pandemic, Indians saw their homes and offices as distinctly separate places, each having its own functions and benefits. Nobody could have predicted that Indians could adapt so well to working from home.

Have Homes Displaced Offices?

Apart from consultants and freelancers, most Indians preferred working from offices before the Covid-19 pandemic. There were good reasons for this.

Corporate offices are socially vibrant, clean, organized, and well-equipped with everything we need to work properly. The normal middle-class Indian home did not have the right kind of equipment, and there are usually a lot of household activities going on which make it difficult to concentrate.

Offices have played a major role in maintaining productivity and motivation. But in less than two years, people all over the world re-engineered their homes to double as offices. For those fortunate to have enough space for a home office, all it took was a laptop and Internet connection, and a change in furniture layout and routine.

It is certainly remarkable that Indian companies could become comfortable with employees working from home. But we ourselves changed tremendously in the last 18 months.

From online shopping to e-schooling and video consultations with doctors to work meetings on Zoom and Teams, Indians up-skilled to be able to manage work and personal life without daily commuting to another part of the city and back.

Homes became so important that housing prices did not reduce even during the worst parts of the pandemic. Demand began rising as more and more Indians became aware of the need to own and control their living in spaces. Homebuying sentiment was growing even before the first wave was over and has remained on a high since then.

Rental rates initially dropped when offices closed during the first wave and people left for their hometowns. But today, housing rentals have normalized once more, especially after many large companies announced that they expect their employees to be in the office for at least a part of the week. This once again makes housing an interesting asset class for investors.

Temporary Changes, Or Permanent Ones?

According to a report by Australia-based research agency PaperGiant in November last year, approximately 83% of Indian employees were not comfortable with returning to the office when there were no vaccines available. A recent survey by LinkedIn indicates that 72% of Indians now want to return to the office.

A report in August 2021 by market research and public opinion agency Ipsos and the World Economic Forum found that at this stage, Indians currently expect to work from home for an average of 3.4 days per week.

So much has changed and continues to change. While some changes are temporary, others are most probably permanently.

For example, smaller configuration homes will steadily lose their previous appeal. Indians will look for larger homes that can accommodate home offices and e-schooling. Developers are now offering new size configurations such as 1.5, 2.5, and 3.5 BHKs.

From now on, all housing options will need a brand new ‘must-have’ feature – the ability to ‘multitask’ and work as both a residential and office setting.

About the author:

Anil Pharande is CMD of Pharande Spaces, a leading real estate construction and development firm famous for its township properties in West Pune. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in West Pune. Anil Pharande is also President – CREDAI (Pune Metro) and a MahaRERA conciliation forum member

Shillong’s breathtaking Cherry Blossom & Literature Festivals leave crowds mesmerized

Chennai, December 1, 2021: Chief Minister of Meghalaya, Conrad K Sangma and Ambassador of Japan to India, H. E. Satoshi Suzuki, inaugurated the 5th edition of the Shillong Cherry Blossom Festival 2021 and the 1st edition of the Shillong Literature Festival at Wards Lake & Polo Ground in Meghalaya. The festival coincides with the actual blooming of cherry blossom flowers in the state, featured special performances from acclaimed artists with jam-packed crowds to see blossoms close to hitting peak bloom. The three-day festival, from 25-27 November 2021, witnessed a footfall of 50000 tourists and citizens.

Meghalaya is home not only to unique horticultural crops and fruits but also to plants of medicinal and ornamental value, like the Cherry Blossom. Primarily found across the east and west Khasi hills, cherry blossoms are also called Prunus Cerasoides and are considered a gift from the Himalayas. The buds start to show around late October and the full bloom begins in the early half of November, especially in the North-eastern city.

The cherry blossom trees in Shillong & Sikkim were planted mostly between 1955 to 1975, under the leadership of the state’s first Chief Secretary, Mr. Nari K Rustomji, who brought seeds from Japan and scattered them in the forested area around his residence. He later ordered the then-District Forest Officer, late Mr. Wahlang, to transplant the saplings to the banks of the Umkhrah near Polo Grounds, Ward’s Lake and Lady Hydari Park. Later, the Forest Department propagated it around the city.

In his brief address, the Deputy Chief Minister, Shri P. Tynsong said, “the festival is a run-up to the State 50th Statehood celebration and dedicated to the people of Meghalaya. The state will witness many more events to mark the Statehood celebration.”

The first edition of the Shillong Literature Festival witnessed a massive footfall of 10 thousand in three days at Wards Lake with “The Hills are alive” performance of Aroha Choir at the inaugural ceremony. The reading Hub gave the option of reading, interacting with authors and donating books, while young visitors aged 18-30 participated in Painting, Illustration, Short story, Essay, Poetry & Photography competition. A panel discussion with authors and artists and hip-hop performances by Khasibloodz, the lit fest also saw a quirky fashion show of recycled material by CatxLizz. Also, four books were launched during the festival including “Marriage” by Devdutt Patnaik.

Dr. Vijay Kumar D, IAS, Commissioner and Secretary, Government of Meghalaya said “Shillong Literature Festival has become a popular entity in art & literature eco-system, making it more inclusive and innovative while promoting music, art and culture. It will provide a platform to writers, readers and authors from the state to connect with literati from other parts of the country.”

Shillong has produced literati like U SoSo Tham & inspired Rabindranath Tagore, Varrier Elwin and others. The literature festival provided a platform for sharing of ideas by contemporary artists by forging ahead of the rich oral traditions. The concluding ceremony had veteran actor Naseeruddin Shah unplugged through candid conversation.

North East has immense talent and the literature festival will provide young minds with a platform to create entrepreneurs out of the artists in a sustainable model where the talent and passion of youth can become his livelihood. From fashion shows, band performances, graffiti artwork to games and local food the festival left citizens, travel enthusiasts and nature lovers mesmerized.

About MEGHALAYA

Meghalaya meaning “abode of clouds” is one of the Seven Sister States of northeast India. The state of Meghalaya is mountainous, with stretches of valley and highland plateaus, and it is geologically rich. About 70% of the state is forested. The Meghalayan forests are considered to be among the richest botanical habitats of Asia. These forests receive abundant rainfall and support a vast variety of floral and faunal biodiversity. The main tribes in Meghalaya are the Khasis, the Garos, and the Jaintias. Each tribe has its own culture, traditions, dress, and language. The majority of the population and the major tribal groups in Meghalaya follow a matrilineal system where lineage and inheritance are traced through women.

Satiate your taste buds with palatable cuisine this Wintertime with Chickeera!

Chickeera is a fast-casual restaurant chain founded in 2020 by Prime Eateries Pvt. Ltd. Present at the vanguard of the Halal-cart revolution in India, the hub was made in the streets of New York over decades. True to its Halal-cart roots, the brand’s cuisine is a healthy fusion of Middle Eastern and American influences.

Happiness is synonymous with a warm flavourful hearty Winter meal- Chickeera offers patrons just that. Delivered fresh and hot to one’s doorstep, the brand’s menu is curated with delicacies befitting to the palate of each family member!

Choose from an unparalleled range of preparations: On offer are succulent chicken dishes drenched in Chickeera’s signature sauces such as Chickeera’s Bbq Chicken Pitawich: The piping hot pita pockets, oozing with juicy chicken pieces married to some smokey Bar-be-que sauce and garnished with crunchy fresh lettuce and tomatoes are sure to leave you with a smile; In case you’re not a meat-lover you can opt for their oh-so-yummy Shroom Og Burrito: a warm and fuzzy Mexican/Tex-Mex tortilla bread that serves as a tasty wrapper to generous portions of lovingly cooked Mushroom Patty will leave both your tongue and tummy feeling happy for the rest of the day. From a flavourful hummus to a New York-style juicy Middle Eastern dish- Lamb Ashet, fresh and crispy Falafels to a fresh out of the oven Honey and cinnamon drenched flaky Baklava and more, Chickeera is the definition of soul food.

Serving mouth-watering treats all day and night long in this cold weather, Chickeera’s 5 am delivery service is your saviour for those late-night hunger pangs. With its multiple delivery outlets all over Delhi, you can via Zomato, Swiggy, the website or the app. The food is so compelling one can have it anytime, any day!

Satiate your taste buds with palatable cuisine this Wintertime!

CIE (IIITH Incubator) selected for INR 5 Crore startup funding grant from Startup India Seed Fund Scheme

Hyderabad, 1 Dec 2021: CIE (IIITH Foundation), the Center for Innovation & Entrepreneurship of IIIT Hyderabad, has been selected for the Startup India Seed Fund Scheme by the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India.

INR 5 Crores was sanctioned to the incubator by the Experts Advisory Committee(EAC) after evaluating IIIT-H Foundation’s impact on startups, progress and achievements over the past 13 years.

CIE helps enable and support eligible early-stage technology startups creating innovative solutions in areas of Deeptech (AI/ ML,CV, NLP, Robotics, VR/AR, Blockchain), Enterprise Tech, Edutech, Healthcare and Medtech. Startups based on research or those that have been started by researchers will be preferred.

The funds will enable proof of concept, prototype development, product trials, market entry and commercialization by providing financial assistance upto INR 25 Lakhs.

For the next 3 years IIIT-H Foundation will support around 20-25 startups through this scheme to enrich CIE’s active deeptech startups seeding and growth programs. In recent years CIE has seeded 15+ startups from research and in 2021, 4 startups including Revos, Instoried, Paymatrix, Scholr have exited, returning 4x multiples on the equity held by CIE.

“IIIT Hyderabad has always had serious aspirations to translate research into solutions for industry and society. Our incubator was started in 2008 to enable this. Over the years we have seeded several startups, and nurtured a few hundred startups.  Very happy to see this support from Startup India” says Prof. P. J. Narayanan, Director, IIITH.