Category: business

Kinara Capital secures INR 70 Crores from Invest in Visions GmbH (IIV) Microfinance Fund, with support from Agents for Impact (AFI)

Partnership will further the financial inclusion of MSMEs in India

Bangalore/Frankfurt, October 29, 2021 – Kinara Capital, a social impact fintech driving financial inclusion of India’s small business entrepreneurs, today announced securing EUR 8 million (~INR 70 crores) from Invest in Visions GmbH (IIV), pioneers of microfinance investments in Germany. Agents for Impact, a sustainability connector of investors and social impact organizations, arranged this transaction for Invest in Visions and managed all commercial and legal aspects of this transaction for Invest in Visions from start to finish. Classified as an ESG Impact Fund by the European Union, Kinara Capital will further IIV’s Microfinance fund’s mandate of enabling credit access to small businesses.

Kinara has accelerated early access to credit with data-based credit decisioning and fully digital processes that facilitate a 24-hour turnaround time from loan application to loan disbursements. Fast access to capital without property collateral addresses the primary obstacles faced by the micro-small-medium enterprise (MSME) sector in India. This fund will unlock access for hundreds of MSMEs to get loans in the range of Rs. 1-30 lakhs. In addition, Kinara’s HerVikas program for women entrepreneurs is addressing systemic inequalities and providing an upfront discount on collateral-free business loans.

Invest in Visions GmbH established the first microfinance fund in Germany and since has expanded to specializing in SME financing, renewables and education. IIV seeks to invest in ethical organizations that can demonstrate sustainable profitability and social impact. AFI plays the crucial role of advising IIV on loan transactions wherein it, inter-alia, conducts verification and plausibility check of investee organizations based on the German Federal Financial Supervisory Authority’s recommendation to assess sustainability risk and its ability to deliver measurable social impact.

“Kinara Capital and Invest in Visions GmbH started our journeys a decade ago and our paths have finally crossed. We are joining hands to enable financial inclusion of even more MSMEs in India. Dedicated support from Agents for Impact to execute this transaction underscores our transparent processes and our focus on achieving measurable social impact. We are honored to partner with both IIV and AFI whose goals align extremely well with ours,” said Hardika Shah, Founder & CEO, Kinara Capital.

“IIV is pleased to partner with innovative leader Kinara Capital that is creating possibilities for the underserved small businesses in India. We recognized the immediate impact that access to credit can have on the local economy with quick income generation, so micro and small business financing in developing nations has always been our top priority. AFI eased the transaction for us by conducting a full assessment so that we confidently entered into the deal knowing that our Microfinance fund’s directive will be met in India,” said Edda Schröder, Founder and Managing Director, Invest in Visions GmbH (IIV).

We are thrilled to have supported both IIV and Kinara Capital in their aligned mission of financial inclusion. Our goal is to perfectly match the needs and requirements of ESG investors and social impact organizations. In this case, we conducted a due diligence of processes and practices, and mapped social impact performance with consideration for the ground reality in India. Our efforts bring peace of mind to both parties so that they can focus on what they do best to service micro & small business entrepreneurs,” said, Dr. Andrij Fetsun, CEO of Agents for Impact (AFI).

Partnership between Kinara Capital, Invest in Visions GmbH (IIV), and Agents for Impact (AFI) to advance financial inclusion will meet multiple United Nations Sustainable Development Goals (UN SDGs), with primary UN SDGs 5, 8, 10 and secondary UN SDGs 1, 2, 3, 4, 9.

Binatone launches MiFi 4G Mobile Hotspot Device in India, compatible with all mobile networks

Binatone, a leading telecommunications company, announces the launch of its new and innovative MiFi 4G Mobile Hotspot Device that is compatible with all networks – 2G, 3G and 4G in India. This compact and portable hotspot device offers users the flexibility to share their Wi-fi connection with up to 10 devices, including phones, smart TVs, CCTV cameras and tablets, at the same time. Priced at just INR 5,999, it will be available on Flipkart from the 28th of October, 2021.

The 4G Mobile Wi-Fi Hotspot device is suitable for Indian requirements. It is compatible with leading network providers in India – Airtel, V!, Jio and BSNL. Equipped with a rechargeable 2700mAh battery, it allows continuous use and connectivity for up to 9 hours in one go. The pocket-sized lightweight device offers high speed and seamless secured internet anytime, anywhere. Addressing challenges like connectivity and speed, this hotspot device is especially suited to those working from home, on business trips, during travel or confined to small space areas. The device has a SIM slot, a USB port and a power button. Its screen displays the signal strength, battery, SMS and Wi-Fi status.

Speaking on the launch, Mr Dino Lalvani, Chairman, Binatone Global & Hubble Connected, said – “We are excited to introduce the 4G Mobile Hotspot device in India. India is the focused market for Binatone lifestyle products. The device lives up to Binatone’s vision of combining innovation and technology. Its secure internet connection, portability and convenience will cater to consumer needs and wants. It is especially beneficial in the wake of the pandemic, where many have resorted to working from home. The launch of this device shall strengthen our position in a high growth market and give our customers a reason to cheer this festive season. Modestly priced, the hotspot device is an excellent option for not just those working or relaxing in small or confined spaces but also for those continuously on the move.”

Price and Availability

The 4G Mobile Hotspot Device will be available at a special price of 3,499 INR exclusively on Flipkart from the 28th of October https://dl.flipkart.com/s/C4AWiMNNNN

AdvaMed launches Code of Ethics on Interactions with Health Care Professionals in India for MedTech Sector

The “AdvaMed India Code” provides medical technology and diagnostics manufacturers a separate code for medical devices to better address the unique needs of the MedTech sector.

29th October 2021, New Delhi – The Advanced Medical Technology Association (AdvaMed) has launched the AdvaMed Code of Ethics on interactions with health care professionals in India. It provides medical technology and diagnostics makers with compliance principles and guidance that addresses key legal risk areas that govern business relationships and activities.

The Code is intended to help companies make reasonable and appropriate decisions that align with the Code’s cornerstone values of Innovation, Education, Integrity, Respect, Responsibility and Transparency.

Much like the pharmaceutical sector, the medical device industry is unique and would benefit from guidance that is tailored to its needs. While the Department of Pharmaceuticals has prepared the Uniform Code of Pharmaceuticals Marketing Practices (UCPMP) in India, a code that guides relationships and interactions with health care professionals for the medical device companies was missing. A separate code for medical devices will better address the unique needs of the MedTech sector. The AdvaMed code aims to bridge the gap and drive cognizance on the unique requirements of the medtech sector with respect to training and clinical research. The code has considered provisions of the UCPMP, MCI guidelines, local anticorruption laws in India, UK, and US, along with the specific requirements of medical device companies.

For example, the code provides a more comprehensive and inclusive definition of the term “health care professional” in context of medtech sector. “A health care professional is any person or entity (a) authorized or licensed in India to provide health care services or items to patients or (b) who is involved in the decision to purchase, prescribe, order, or recommend a medical technology in India. This term includes individual clinicians (for example, physicians, nurses, and pharmacists, among others), provider entities (for example, hospitals and ambulatory surgical centers), and administrative personnel at provider entities in India (for example, hospital purchasing agents).”

“Medical device companies, globally and in India are dedicated to advancing medical science; developing high quality, innovative medical technology; and improving patient care. The code will act as an essential guide for all companies as they strive to achieve their business objectives while ensuring patient safety and integrity in all their actions. We urge all med-tech companies – including small, medium, and large size firms and all the representatives on the forefront of these businesses to proactively adopt the code. The code will not only standardise interactions with healthcare professions during the course of their business but also help maintain a healthy MedTech innovation ecosystem for the benefit of the industry as whole.” Abby Pratt, Senior Vice President, Global Strategy & Analysis, AdvaMed, said.

The AdvaMed India Code was developed in response to a recommendation from the AdvaMed India Executive Committee to promote greater consistency across the MedTech industry in India.

Adding to the same, Pavan Mocherla, Managing Director – India / South Asia, BD, said, “The AdvaMed India Code of Ethics sets a high standard for business ethics in India. AdvaMed and its members are committed to work with the Indian government and bring their expertise and knowledge for strengthening MedTech sector in the country. The code is a valuable example for the India Government to consider as they contemplate developing their own code for the sector. For India, the code takes into account the unique requirements of the country – both at the professional and cultural level. This makes the code much more localised and implementable. I strongly encourage all medical technology companies doing business in India to adopt and certify to this Code and to implement an effective compliance program.”

Companies are strongly encouraged to adopt an effective ethics and compliance program aimed at (1) promoting an organizational culture that encourages ethical practices and a commitment to comply with the applicable law, guidelines, and codes and (2) preventing and detecting inappropriate conduct.

To access the AdvaMed India Code – along with an overview document and additional information – please click here: https://www.advamed.org/wp-content/uploads/2021/10/2021-AdvaMed-Code-of-Ethics-on-Interactions-with-Health-Care-Professionals-in-India.pdf

Code Development

AdvaMed created a Task Force of member company ethics and compliance lawyers to draft an India Code of Ethics based on the U.S. Code, but tailored to business and market realities in India. Once complete, the Task Force’s draft Code was reviewed by both United States and India outside counsel to examine the text to ensure it was aligned with AdvaMed’s U.S. Code and consistent with local laws.

The draft Code then underwent a rigorous review and approval process by AdvaMed’s governing member committees, including the India Executive Committee, Chief Compliance Officers Committee, Legal Committee, Board International Committee, Board Ethics & Health Care Compliance Committee, and, lastly, the AdvaMed Board of Directors. With Board approval, the Code became effective on October 1, 2021.

This festive season let your loved ones firmly delve into the powerful music with AIWA’s new luxury acoustic range

The Festival of Lights is just around the corner, families, and friends will come together to celebrate the warm spirit of this joyous festival. With the festive season in full swing, surprise your loved ones with the Luxury Acoustics Range of Speakers from AIWA. These new high-fidelity devices will fulfill the requirements of audiophiles, music enthusiasts looking for exclusivity, luxury, and high-quality sound.

The new stylish range is portable, with high-power rechargeable batteries, and can be used both at the home and outdoors. These speakers are available on Amazon, Reliance Digital, Select Partner Stores and also on www.aiwaindia.com. For more than 7 decades, Technology and Innovation have been at the core of the Aiwa products and these products carry the legacy forward.

AIWA’S MI –X450 PRO ENIGMA- comes with the best-in-class audio component with a twist of retro styling design. The device has some extraordinary features installed to enjoy the classic festive season. Engineered with two wireless mics for singing along and a recording facility to record. MI-X450 PRO ENIGMA gives you an entrancing experience to sing on your favorite karaoke track jamming along with your loved ones.

AIWA’S SB-X350J– a compact high-performance desk speaker with a calm yet commanding character. This comes with two custom-designed 40 mm active audio drivers and a large battery backup enabling them 3 hours of charging time and 5 hours of playback time.

AIWA’S SB-X350A– If you are a full-time music enthusiast, this can be your ideal landing choice. SB-X350 A has solid aluminum build with a high luxe finish and a class reading sub-compact portable speaker. Equipped with two opposite-facing bass radiators, packing 40 watts of power with Type-C charging. The best choice to deliver an immersive cinematic experience, anywhere and anytime.

if your loved ones are out traveling and partying with friends don’t worry the new range is the has best devices to accompany them. So, this time rather than giving the regular ethnic gifts, switch on to something more unique and worthwhile.

The new range is available across Reliance digital and https://www.aiwaindia.com/

NMDC endorses the use of Technology for Transparency

Hyderabad, 28 October, 2021: NMDC welcomed Dr Praveen Kumari Singh, IAS, Additional Secretary, Central Vigilance Commission at its Head Office in Hyderabad today. The Navratna PSU is celebrating Vigilance Awareness Week – 2021 (VAW-2021) from 26.10.2021 to 01.11.2021 as per the directives of Central Vigilance Commission.

In the Keynote Address on ‘Corporate Governance – Leveraging Technology & Whistle Blower Mechanism’, Dr Praveen Kumari said that use of modern technology should not be limited to increasing production and efficiency but also encourage transparency in the system. Appreciating the digital initiatives and Whistle Blower Policy of NMDC, she said that employees are ambassadors of vigilance and it is their duty to propagate value driven policies. On the theme for VAW-2021, Dr Praveen Kumari remarked that to ensure self-reliance with integrity, the citizens of India must be vigilant against corruption and demand good governance.

Shri Sumit Deb, CMD NMDC supported the belief that while improving systems and procedures, technology can also bring transparency in society. As NMDC heads towards automation and digitalisation, he cautioned the employees that digitalisation and technology being is a double-edged sword needs to be used consciously for the socio-economic growth of the nation.

On this occasion, senior officials of NMDC presented papers on ‘Leveraging Technology for Improving Transparency’ – Mr Satyender Rai, GM (C&IT – ERP); ‘Future Digital Initiatives of NMDC’ – Mr H.S. Prabhu GM (C&IT); ‘Corporate Governance & Whistle Blower Mechanism’ – Mr Praveen Kumar, CGM (Personnel and Law) in the presence of functional Directors, CVO and Senior Officials of NMDC. The Chief Guest of the session, Dr Praveen Kumari Singh also launched the NMDC short film on Vigilance.

Shri Vineet Pandey, CVO, NMDC thanked Dr Singh and the participants for their valuable insights. He further emphasized that, “Good governance, regulated policies & mechanisms would definitely act as catalysts for the Nation to become Self-Reliant.”

Red House Streaming Studios Launches First 24/7 Global Streaming TV Network

Featuring Emmy Award-winning journalist Sarina Fazan, the network launch represents a major strategic step forward for Red House Streaming studios and Fazan’s broadcast career

St. Petersburg, Florida, October 28, 2021 — Red House Streaming, a CP Communications brand, announces the launch of its first 24/7 broadcast network. Produced from Red House Streaming (RHS) studios and on-location around the Tampa region, the Sarina Fazan Network launched this week at https://sarinafazannetwork.tv. The network offers diverse entertainment, news, and human-interest content, hosted by four-time Emmy Award-winning broadcast journalist and producer Sarina Fazan.

Advancing RHS’ vision of online television, the Sarina Fazan Network will feature a mix of live and pre-recorded programming and is available on demand across all web browsers and mobile platforms, thanks to a dynamic responsive web design. Viewers have access to a non-intrusive scheduling grid positioned underneath the program stream, with a brief description of the program accessible in the bottom right corner.

The RHS studios staff produces all programming using CP Communications’ state-of-the-art broadcast technology, including the company’s exclusive range of CamSTREAM PTZ camera units. CP’s CamSTREAM systems are all-in-one remote production and streaming solutions that capture and deliver content directly to the web or a production studio, and will be used for in-studio and on-location shoots.

All in-studio productions for the Sarina Fazan Network take place at RHS’ St. Petersburg-based professional production facility and network operations center, which features two adjacent 600-square-foot studio spaces and a control room. Studio A houses a professional anchor desk, while Studio B offers an enhanced, dynamic chromakey space for virtual set packages. Both studios are fully customizable, allowing production staff to create a unique on-air appearance for each program, including specific graphics, logos, and more.

The network’s flagship program is On The Record With Sarina Fazan, a live-streamed show that highlights a variety of nationally trending topics and remarkable people. Each episode takes a deep dive into a new subject area, allowing viewers to get to know the people behind the headlines, understand real issues, and enjoy engaging conversation. Additionally, the Sarina Fazan Network features episodes of Unlocking Tampa Bay, a locally produced series that brings the diverse sights, sounds, and tastes of the region to global audiences.

Coming soon to the Sarina Fazan Network are new stand-alone programs hosted by Fazan and inspired by popular segments of her show, such as Love in America, Law and Order, Incredible Stories from Inspiring Women, Kids in the Community, and Business Spotlight. Also in the works is CEO 360, a CEO roundtable program, along with more original content.

Fazan chose RHS studios last year to create a professional signature “look” for her podcast, as she transitioned from recorded programming to a live-streamed show. In a feature story with Radio and TV Business Report, she discussed her goal of launching her own “OTT channel” to bring newsmakers and high-profile people to local, national, and global audiences. The launch of the Sarina Fazan Network represents the first phase of this bold initiative.

“Red House Streaming studios have provided me with a professional platform to bring my stories to wider audiences,” said Fazan. “As a storyteller, returning to a professional production set reintroduces the human element that was challenging to deliver in a self-produced podcast. The gifted team at Red House Streaming studios offers the technology, colorful sets, and production crew we need to make this a reality, while also providing us with complete creative control.”

Vice President of Red House Streaming Lowell Beckner, who previously worked with Fazan at Tampa ABC Television affiliate WFTS-TV and later introduced her to RHS studios, confirms that the network launch also represents the next strategic step for the Red House Streaming studios brand.

“Red House Streaming studios continues to expand, and we can now produce an impressive number of independent streaming television channels in addition to the customized production services we offer for regional and national talent,” said Beckner. “We are thrilled that Sarina will grow her streaming brand with Red House Streaming studios as we build for a bright and creative future. Plans are already in the works for live streaming channels on Roku, AppleTV, and Amazon Fire.”

About CP Communications
For more than three decades, CP Communications has provided high-quality, cost-effective live event production solutions to major broadcasters, sports leagues and teams, and event and production companies. Our solutions include access to experienced professionals, state-of-the-art equipment, and innovative technologies and techniques for wireless audio & video content acquisition, transport, and delivery. Our culture of innovation, coupled with the highest quality assurance standards and passion for customer service, promotes collaboration with our clients to determine the best custom solution for each live event.

Manyavar associates with ICC Men’s T20 World Cup 2021

Manyavar associates with ICC Men’s T20 World Cup 2021; signs up as the Official Indian Wear Partner for the tournament

Manyavar, the leading celebration wear brand from the house of Kolkata headquartered Vedant Fashions Limited, announced their association with the International Cricket Council (ICC) as the Proud Official Indian Wear Partner of ICC Men’s T20 World Cup 2021.

Manyavar went live with the ongoing T20 World Cup 2021 from the Super 12 stage games which commenced on 23rd October 2021 with Australia vs South Africa match at Abu Dhabi. As part of the association, Manyavar will have its presence on-ground as well as on the Digital assets of ICC.

Manyavar, which is a category leader in the branded Indian wedding and celebration wear market with a pan-India presence, has a longstanding relation with Cricket. The brand is known for its affiliation with the most exciting and action-packed cricket tournaments.

Commenting on the association, Mr. Vedant Modi, Chief Marketing Officer, Vedant Fashions Limited said, ‘Manyavar as a brand embraces celebration and togetherness and Cricket is the biggest celebration in the country which brings people of every age group together. Therefore, our association with Cricket is a natural extension. We believe that our longstanding partnership with sporting event has resulted in positive recall for our flagship menswear brand – Manyavar and we are confident that the association with the ICC T20 World Cup 2021 will help us further cement the brand in hearts and minds of our consumers.’

According to CRISIL, Vedant Fashions Limited is India’s largest company in the men’s Indian wedding and celebration wear segment in terms of revenue, OPBDIT and profit after tax for the Financial Year 2020. Offering its diverse portfolio for men and women of all age groups, the company caters to men with three distinct brands, Manyavar the flagship brand catering to the aspirational youth in the mid-premium Indian wedding and celebration wear segment, Twamev on the other hand caters to the premium category. Manthan has been positioned as the value brand catering to the demands of mid-market.

Vedant Fashions also offers its range of wedding and celebration wear for women, through Mohey, and caters to the entire family with its regional heritage brand, Mebaz.

Automating Healthcare & Pharma Compliance – Aparajitha Address a Major Sector Roadblock

Chennai, October 28, 2021: Aparajitha Corporate Services Private Limited, India’s no. 1 company for Compliance, today organised a Global Compliance Webinar on how automation can help healthcare and pharma companies tackle their critical compliance challenges.

The virtual session was about understanding compliance management and the importance of compliance digitization as an integral part of any organisation’s ethics and culture.

Speaking on the importance of the session, Mr. Rajesh, Chief Marketing Officer, Aparajitha Corporate Services Private Limited said, “Policies and procedures play an integral part of every healthcare and pharma set-up…and they should. They provide companies in these sectors with the clarity they need to run smoothly by streamlining processes. Beyond this, these policies also offer guidance for informed decision-making by supporting compliance. With increased regulatory changes, compliance in the healthcare and pharma sectors is all set to become a little more challenging than it used to be earlier. One major trend to watch out for is the substantial increase in digital transformation in terms of automation, which now seems to be the only way out of compliance roadblocks in these ever-growing sectors. Technology in compliance management can immensely help in keeping healthcare and pharma companies compliant. It is imperative for the companies in these sectors to adopt a holistic approach by aligning the compliance strategy into the overall business strategy.”

Aparajitha’s Global E-Governance and Compliance Platform is an online Compliance Management Tool on a cloud platform designed to global standards with a combination of sector / industry-specific knowledge, with compliance metrics within the legal framework & policy standards of the region. Technological insights uniquely position our teams to work with organizations to achieve end-to-end digital transformation. From strategy to processes to tech enablement to regulatory changes, Compfie takes a holistic view of how country-specific laws, platforms, and compliance output behaviours across the front, middle and back offices need to evolve.

Compliance-related aspects discussed in the session included…

Abiding by the applicable labour laws like Payment of Wages Act, Gratuity Act, EPF Act, etc
Preventing the serious consequences of non-compliance with labour laws
Having easy access to the current policies with real-time updates
Streamlining the internal and vendor audit processes

Using technology, several organisations have reduced their missed compliance by over 90 percent, and penalties by over 95 percent. Digital apps have made key processes transparent, accountable, and timely. Software-based solutions have helped manage repetitive and non-value-adding activities, saving both time and money.