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Tag: Yes Bank

  • Prateek Kathpal advanced to director – private capital ecosystem – Grant Thornton Bharat

    Prateek Kathpal advanced to director – private capital ecosystem – Grant Thornton Bharat

    MUMBAI: He has got a capital promotion.  Grant Thornton Bharat LLP has elevated  Prateek Kathpal as director of the private capital ecosystem. In this pivotal role, Prateek will lead initiatives related to private equity go-to-market planning, deals consulting, and all aspects of practice development, including deal structuring, investment banking, due diligence, valuations, and debt restructuring.

    With a robust background in the financial sector, Prateek is an innovation enthusiast whose experience spans multi-sector corporate accelerator programs and advisory roles for startups on commercialisation and market entry strategies. The BSc in information technology also completed his post graduate degree in marketing, strategy & finance.  

    Prateek’s previous positions include director of private equity and deals at Grant Thornton, and strategy & practice development lead at Khaitan & Co, where he drove significant business engagements and client outreach. Additionally, he has a history of leading marketing and sales initiatives at Yes Bank and VCCircle.

    Grant Thornton Bharat, part of Grant Thornton International Ltd., is one of India’s premier professional services firms, boasting a workforce of over 10,000 across 19 offices. The firm is dedicated to delivering assurance, consulting, tax, risk, and digital transformation services while prioritising client-centric solutions and positive ecosystem impact.

  • Zeel’s audit firm Deloitte Haskins fined Rs 2 crore for gross negligence

    Zeel’s audit firm Deloitte Haskins fined Rs 2 crore for gross negligence

    MUMBAI: Audit firm Deliotte Haskins & Sells  (DHS) has got a rap on its  knuckles from the audit and accounting watchdog , the  National Financial Reporting Authority (NFRA). It said that the former failed to meet relevant requirements of the standards of audit (SAs) and violated the Companies Act in respect of certain significant related party transactions concerning Zee Entertainment Enterprises Ltd  (Zeel) and promoter companies of Essel group chairman Subhash Chandra. 

    DHS, Zeel’s auditor then, did not disclose these doubtful  transactions  in Zeel’s financial statements. Hence NFRA has imposed a fine of Rs 2 crore on DHS and it also penalised two CAs employed by the audit firm Rs 10  lakh and five lakh each. It even banned them from practising as CAs for the next five years.

    The NFRA order says that in September 2018, the Zeel chairman  who is also the promoter of Essel group, issued a letter to Yes Bank, committing a Rs 200 crore fixed deposit of Zeel as a guarantee for the loans given by Yes Bank to a promoter group company Essel Green Mobility Ltd. 

    “The bank appropriated the fixed deposit (FD) in July 2019, towards settlement of loan amounts due from seven promoter group companies. Neither the creation and maintenance of FD nor its re appropriation by the Bank was with the approval of the board  or shareholders of the company. The statutory auditors failed to identify and report this misrepresentation.”

    “Our examination showed that the auditors were grossly negligent, failed to apply professional skepticism and due diligence, did not adequately challenge the management’s assertions, and failed to evaluate reporting of suspected fraud as required under Section 143(12) of the Act, which was evident from unauthorised guarantees/securities, premature closure of the FD by the Bank and unauthorised use of Zeel’s funds for settling the loan of  the promoter group companies, with the knowledge of the chairman of the group and management of Zeel.”
     

  • YES BANK and CNBC-TV18’s multi-city ‘Growth Summit’ concludes in Hyderabad with deep insights on India’s roadmap to becoming $10 Trillion Economy

    YES BANK and CNBC-TV18’s multi-city ‘Growth Summit’ concludes in Hyderabad with deep insights on India’s roadmap to becoming $10 Trillion Economy

    Mumbai: YES BANK and CNBC-TV18’s – The Growth Summit: A vision to a $10 Trillion Economy, in association with Max Life Insurance, was successfully concluded in Hyderabad on Friday. With policymakers, industry leaders, entrepreneurs, and a wide range of experts weighing in on India’s economic progress over the next few years, the last chapter of the Growth Summit hosted policymakers, experts, entrepreneurs, and more. The summit witnessed discussions around the government’s ambitious 25-year plan intended to position India as the world’s third-largest economy with a GDP of $10 trillion.

    In the opening remarks, Mr Prashant Kumar, Managing Director & CEO of YES BANK, said, “We are fortunate to be citizens of this country which is the 5th largest economy and aspires to be the third largest economy by 2030. As we also aspire to be a developed nation by 2047, I think it’s crucial not just to focus on GDP growth but the growth of 140 crores Indians together, where their standard of living goes up. And where everybody enjoys the fruit of the development in India.

    During his address, Mr Kumar announced the launch of ‘Yes Private’ in Hyderabad, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavor to leverage the opportunities on the road towards a $10 trillion Indian economy.

    The event kicked off with an engaging discussion on ‘Unleashing the Animal Spirit: Building the Right Support Structure for Growth’ with T-Hub CEO Srinivas Rao Mahankali where he said, “Building a world-class entrepreneurial ecosystem is a collective journey, where startups, corporations, government, academia, and media come together to create a supportive atmosphere for everyone.  Inspired by innovators in  Silicon Valley and directed by thought leaders such as Dan Eisenberg, we try to build  an environment where innovation and opportunities booms. With startups at the forefront and corporations achieving new heights, supported by strong policies and diverse funding options, we are shaping the future of entrepreneurship collectively.”

    The day progressed with a thought-provoking conversation on ‘Inside The Laboratory of India’s $10 TRILLION DREAM’ with Mr Satish Reddy, Chairman, Dr Reddy’s Laboratories. The session was followed by an intriguing panel discussion on ‘Innovate, Produce, Thrive: India’s Path to Global Competitiveness’ with industry experts – Mr Krishna Bodanapu, Executive Vice-Chairman & MD, Cyient ; Dr Sai Prasad, ED, Bharat Biotech & CII President, Telangana; Mr Anurag Malempati, Promoter, Leap India Food & Logistics Pvt. Ltd.; Pradeep Chowdhry, MD, Gemini Edibles & Fats India Pvt. Ltd.; and Mr Pawan Jain, Director, Kirby Building Systems and Structures India ( Gujarat) Pvt Ltd.

    The evening continued with a special address by Mr. Prashant Tripathy, MD & CEO– Max Life Insurance MD & CEO Prashant Tripathy said “As India makes its way towards becoming a $10 trillion economy, innovation in enabling financial inclusivity will be a key pillar of progress. Over the past decade, transformative innovations like UPI and JAM Trinity have catalysed our financial inclusion efforts, while the advent and proliferation of fintech has been delivering exponential growth. As we move further, continuous regulatory support and initiatives like technology enabled risk management are essential for sustaining this upward trajectory. Within this context, Hyderabad’s ascent as a thriving hub of next gen innovation epitomizes India’s immense growth potential. With its vibrant ecosystem and skilled workforce, the city serves as a beacon of India’s ability to foster future forward progress. Through strategic policymaking and collaborative endeavours, we are poised to translate our vision into reality, driving not just economic prosperity but also societal advancement.”

    The summit moved ahead with a thought-provoking session conducted by Kumaar Bagrodia, leading Neuroscientist & Founder, NeuroLeap on ‘The Neuroscience of Innovation’. The concluding panel discussion titled ‘Beyond the Norm: Redefining Innovation for Progress’, brought together industry experts, including Mr Mohit Jaju, Director, Godavari Drugs Ltd.; Mr BV Kondanda Pani, MD, Algoleap Technologies Pvt. Ltd.,Mr I V Ramana Raju, Co-founder & CEO, Fabex Steel Structures, and Mr LS Patil, Promoter & MD, Patil Rail Infra Ltd.

    The event transitioned seamlessly into an interesting conversation on ‘Stardom & Strategy’ with Mr Adivi Sesh, Actor & Writer, speaking about his upcoming projects. He added, “I’m currently shooting for two films. G2 serves as the sequel to my 2018 hit, Gurucharya, which rebirthed the spy genre in Telugu cinema. With G2, we are aiming for a national impact. Recently, we’ve welcomed Emraan Hashmi to our cast, and we are excited to expand our reach to audiences across five diverse languages across the country.  I’m also working on another project, Dacoit, which we are shooting in Hindi, featuring the extremely talented Shruti Hassan.”

    The summit concluded with an enticing conversation moderated by Mugdha Kalra, CNBC-TV18 Anchor on ‘Smashing Success: Grit to Global Stardom’ with Ms Saina Nehwal, Badminton Champion – Olympic Medalist. Speaking about her comeback, struggles, and achievements she stated, “It is difficult for athletes, as each one battles with their individual problems. Every individual ventures into this field with the goal of achieving distinction on an international level, but not everyone escapes the injuries. Reflecting on the early days, one doesn’t live on the potential drawbacks; instead, the focus is on enjoyment and striving for success.” 

  • IOS Sports & Entertainment facilitates YES Bank’s partnership with Indian Olympic Association

    IOS Sports & Entertainment facilitates YES Bank’s partnership with Indian Olympic Association

    Mumbai: As the countdown to the much-anticipated Paris 2024 Olympic Games continues, IOS Sports & Entertainment – the official commercial managers for the Indian Olympic Association, today announced the onboarding of private bank network YES BANK as the official banking partner for Team India. YES BANK will now be the official banking partner of the Paris-bound Indian Olympic contingent for the upcoming Summer Olympic Games in Paris. This strategic collaboration facilitated by the leading sports marketing agency IOS Sports & Entertainment establishes YES BANK’s commitment to fostering excellence in sports, ensuring – no stone is left unturned in Team India’s preparations for the upcoming Olympic Games.

    With this partnership, YES BANK which is the Official Banking Partner, joins the ranks of Adani Sportsline, JSW, and Reliance Foundation as Principal Sponsors, further strengthening the support for Team India at the Paris Olympic Games 2024.

    “We are thrilled to embark on this journey with the Indian Olympic Association,” said YES BANK MD & CEO Prashant Kumar. “India’s achievements in international sports have inspired the nation. The Olympics hold a significant place for Indians, uniting us in support of our athletes. YES BANK is committed to supporting Team India in their pursuit of excellence, reflecting our dedication to national pride and achievement.”

    The Indian Olympic Association welcomed the partnership, acknowledging YES BANK’s commitment to Team India for the upcoming Olympic Games. “YES BANK’s support is a testament to their belief in our athletes’ potential and dedication to building a culture of sports excellence in India,” said the Indian Olympic Association president PT Usha. “Their support not only boosts our athletes’ spirit but also gives them the confidence to aim big and win the medals.”

    IOS Sports & Entertainment MD Neerav Tomar – the official commercial partner of the Indian Olympic Association, also celebrated the new partnership. Tomar said, “We are delighted to onboard YES BANK as the Official Banking Partner of Team India for the upcoming Paris Olympics. YES BANK has been a great promoter of sports for a long time and this partnership with Team India for the Olympic Games not only signifies their dedication to the development of sports in the country but also our shared vision of empowering Team India to achieve unparalleled success at this year’s Paris Olympic.”

    He further added, “We are excited about the great things we are going to accomplish together for Team India and I would like to thank the Indian Olympic Association for bestowing us with this responsibility and their trust as the official commercial partners for Team India.”

    With the Paris 2024 Olympic Games on the horizon, Team India is determined to build upon their successes and reach new heights, backed by the unwavering support of IOS, YES BANK, and other sponsors.

    This partnership stands as a testament to IOS’s commitment to nurturing talent, encouraging athletes, promoting sports, and creating a collective effort to improve and bring India’s best athleticism and sportsmanship to the global stage.

  • YES BANK & CNBC-TV18 Growth Summit in association with Max Life Insurance puts a spotlight on India’s $10 trillion economy plan

    YES BANK & CNBC-TV18 Growth Summit in association with Max Life Insurance puts a spotlight on India’s $10 trillion economy plan

    Mumbai: The Delhi edition of YES BANK and CNBC-TV18’s – The Growth Summit: A Vision to a $10 Trillion Economy, in association with Max Life Insurance, was organised on Wednesday. The summit brought together policymakers, industry leaders, startup founders, and a diverse range of experts to engage in substantive discussions regarding India’s economic growth. The primary focus of the summit centred on the government’s ambitious 25-year plan aimed to position India as the world’s third-largest economy, boasting a GDP of $10 trillion.

    A spokesperson from CNBC-TV18 extended a warm welcome to the attendees, moving to the opening remarks by YES Bank CEO & MD Prashant Kumar.  “In the last few years, we have witnessed large investments in the infrastructure landscape, taking the country to the next-level. India has come out as a strong force with all the headwinds happening around the world, and to continue that, we need to remain self-insulated and self-reliant. Moving towards becoming the third largest economy is not enough; the ultimate goal should be that every Indian benefits from this growth. It is crucial for all of us to work collaboratively and focus on areas including—inclusivity with growth, manufacturing, boosting exports, supporting MSME and the startup ecosystem and funding innovation. The involvement of the government and private sector together is the key to achieving the $10 trillion economy plan.”

    During his address, Mr Kumar announced the launch of ‘Yes Private’ in Delhi, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavour to leverage the opportunities on the road towards a $10 trillion Indian economy.

    The event kicked off with a fireside chat on ‘Leading from the front: How to Live up to your Strategic Vision’ in conversation with Nestle India CMD Suresh Narayanan, he said, I feel fortunate to be a part of a 160-year-old company that values providing experiences to people, not just selling products. Nowadays, digitisation has levelled the playing field for everyone, and e-commerce and AI are helping us plan better. However, with tech being such a driving force presently, we need to utilise it responsibly and remember technology is here to serve mankind and not the other way around. Lastly, trust, empathy and compassion are not just buzzwords and the long-lived companies are going to be those where this five letter ‘TRUST’ is placed in everything they do.” The discussion was moderated by CNBC-TV18 managing editor Shereen Bhan.

    The event continued with another interesting thought-provoking discussion on ‘Unveiling Indian Healthcare as a Model of Growth & Excellence’ in conversation with Medanta executive chairman Dr Naresh Trehan, he stated “Every person in India deserves access to decent healthcare. With the introduction of the Ayushman Bharat scheme, the industry has extended a lifeline to over 500 million individuals who were previously left out of the healthcare facility. It’s surprising to admit that healthcare expenses alone are driving 2 to 4% of our population below the poverty line each year. Considering the extent of our nation’s growth, with a population increasing by 25 million annually, the challenge before us is immense, but the steps taken by the current government through Ayushman Bharat have provided immense relief.”

    Subsequently, there was another fireside chat on ‘Betting Big One on India: Identifying New Growth Opportunities’, Dixon Technologies chairman Sunil Vachani.  

    The fireside chat was followed by a special address by Max Life Insurance CEO & MD Prashant Tripathy. He said, “In India’s pursuit of becoming a $10 trillion economy, visionary policy initiatives stand as cornerstones of inclusive growth. From pioneering financial inclusion schemes and the development of robust digital infrastructure to the progress of our vibrant start-up ecosystem- these collective endeavours underscore the remarkable journey we’ve undertaken as an economy in the last decade. As we stride forward, India must prioritize policies that foster innovation, technological advancement, tackle income inequality, and promote sustainable development practices. These critical areas demand our unhindered focus, as we inch towards an economy that unlocks sustained development for one and all.”

    The evening continued with an engaging panel discussion on ‘Facilitating the Emerging Stars of Indian Business’ with insights from industry experts Akshay Ghulati (Co-founder & COO, Shiprocket); Mr Anirudh Arun (Co-founder, CEO, BluSmart Fleet) and Ish Babbar  (Cofounder & CTO, Insurance Dekho).

    The evening continued with an engaging conversation with Former Indian cricketer Virendra Sehwag. Talking about how the Indian team can bring home the World Cup, he said, “We need to play it like a knockout match, be brave and fearless and most importantly, make the right decision on the field. India has never lacked talent; we need to play aggressive cricket and not worry about winning.”

    Concluding the summit was a thought-provoking session conducted by Kumaar Bagrodia, leading Neuroscientist & Founder of NeuroLeap, on ‘The Neuroscience of Investing’.

    The Delhi edition of ‘The Growth Summit – Vision for a $10 trillion Economy’ underscored India’s trajectory towards economic prosperity as industry leaders and experts converged to chart a path towards a $10 trillion economy. The next edition of the summit will be held in Hyderabad on 15 March,2024.

  • Insights and Innovations unveiled at YES BANK and CNBC-TV18’s Growth Summit in Bengaluru

    Insights and Innovations unveiled at YES BANK and CNBC-TV18’s Growth Summit in Bengaluru

    Mumbai: The third edition of YES BANK and CNBC-TV18’s – The Growth Summit: A vision to a $10 Trillion Economy, in association with Max Life Insurance, was held in Taj Westend, Bengaluru on February 28, 2024. The summit brought policymakers, industry leaders, startup founders, pioneering innovators, and a diverse array of experts under one roof to engage in meaningful discussions around India’s economic advancement Central to the summit’s discussions was the government’s ambitious 25-year plan aimed at positioning India as the world’s third-largest economy with a GDP of $10 trillion.

    In his opening remarks at the Summit, YES BANK managing director & CEO Prashant Kumar said, “The Bengaluru chapter of The Growth Summit was centred on leveraging Karnataka’s industrial and technical expertise to propel India towards its $10 trillion mark. It calls for the collective involvement of business leaders. With over 40 unicorns and IT exports soaring, Karnataka is not merely a hub, but a nucleus of innovation. From electronic design to biotechnology, its diverse sectors thrive under a conducive policy framework. The collaborative efforts of ISRO, private enterprises, and the state have propelled us forward, fueling our ascent towards a $10 trillion economy. Now, as global businesses seek refuge from China, India beckons as the premier destination. Let us seize this moment to sculpt a future where India shines as a global powerhouse of technology and manufacturing.”

    During his address, Mr. Kumar announced the launch of ‘Yes Private’ in Bengaluru, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavour to leverage the opportunities on the road towards a $10 trillion Indian economy.

    The event kicked off with a thought-provoking discussion on ‘Ushering in India’s Techade’ in conversation with RBI Innovation Hub CEO Rajesh Bansal, who stated, “As I see it, this decade marks a pivotal moment for India’s growth trajectory. While I may not witness it firsthand, I firmly believe that the young generation, will recognize this as the turning point. Over the past decade, we’ve laid the groundwork with digital infrastructure, making us unique among 1.3 billion nations. With 12 million transactions daily, our payment and ID systems are the backbone of individual and business transactions. Now, with the right steps, we stand at the precipice of a quantum leap in technology adoption, inching closer to our $10 trillion economy vision. Our foundational layers of technology position us uniquely, setting us apart globally. Key advancements like BharatQR and our ONDC initiative illustrate our commitment to staying ahead.”

    The event continued with another stimulating discussion on ‘Preparing India for Global Leadership’ in conversation with Aarin Capital and 3one4 Capital chairman Mohandas Pai said “India is truly incredible, boasting a PPP GDP of $12.2 trillion and a nominal GDP of $3.45 trillion. What sets us apart is our unique PPP multiple of 3×3, surpassing even China’s sixfold difference between nominal and PPP GDP. While countries like China and the US lead in nominal figures, India’s true value often goes unrecognised. To bridge this gap, we must focus on three key pillars: human capital, financial capital, and innovation. Despite graduating millions annually, only 28% of our youth aged 18 to 23 are currently engaged in the workforce. It’s imperative we harness our vast potential and invest wisely for a brighter, more prosperous future.”

    Subsequently, panel discussion on the topic ‘Digital Transformation Strategies Driving Future Growth’ with Mr. Gaurav Singh Kushwaha (CEO & Founder, Bluestone.com); Akash Sinha(CEO & Co-Founder Cashfree); Mr. Mathew Chandy (MD, Duroflex Private Limited); and Harsh Jain (Co-Founder, Groww) gave further insights into India’s rise as a digital hub.

    The panel discussion was followed by a special address by Max Life Insurance COO Manu Lavanya. He said, “India’s digital journey over the past decade, has been nothing short of revolutionary, marked by transformative initiatives like UPI and Aadhar. The integration of the larger Bharat digital stack within the insurance sector holds immense promise for driving access and inclusivity. By leveraging digital as a channel, we will not only streamline processes but also make significant strides towards extending insurance coverage to every corner of the nation. This convergence isn’t merely about innovation; it’s about empowerment. It’s about ensuring that every Indian, regardless of their location or background, has the opportunity to safeguard their financial well-being with ease. As we embrace this symbiotic relationship between digitization, AI and insurance, we have a tremendous opportunity to unite efforts and realize IRDAI’s vision of ‘Insurance for all by 2047’. Role of AI and digital will be pivotal in creating customer centric micro-products enabled by straight through Underwriting with vernacular journeys that appeal to the Non-Urban consumer base, making the vision of “Insurance for All” a reality.”

    The evening continued with an engaging panel discussion on ‘Nurturing the Green Shoots of Innovation’, with insights from industry experts Mr. Dhiraj Agarwal(CEO & Co-founder, Campus Sutra); Mr. Hrishi Gandhi (President Finance and Chief Business Officer, Newspace); Mr. Raj Shah(Co-founder and Director, WeHear Innovations Pvt Ltd) and Mr. Manish Kumar(Founder, KredX)

    Taking the evening towards its end, an enticing conversation between CNBC-TV18 anchor Mugdha Kalra and celebrity chef Ranveer Brar. He said “I think what changed after COVID is that a lot of people who didn’t believe they could cook started cooking. These people who earlier didn’t believe in the power of the food and restaurant industry have now changed. The people who earlier refused loans to restaurants believing that it’s not a money-making business now are gaining confidence. That’s why you see a lot of food businesses today, because the belief is now coming from MBA graduates who are finding food to be a viable, durable, and profitable venture. I think that’s something that has changed and deserves to be addressed here”.

    Concluding the summit was a final thought-provoking session conducted by Neuroscientist & founder Kumaar Bagrodia, NeuroLeap on ‘The Neuroscience of Investing’.

  • Chennai Singams secures major jersey sponsorships ahead of ISPL debut

    Chennai Singams secures major jersey sponsorships ahead of ISPL debut

    Mumbai: As excitement grows for the inaugural edition of the Indian Street Premier League (ISPL), Chennai Singams, the #RoartoRule cricket franchise, has secured significant jersey sponsorships across sports, hospitality, finance, banking, energy and food & beverages categories. ibis Hotels from the hospitality segment is among the major jersey sponsors for the franchise which is making its debut in the much-anticipated ISPL league. The inaugural edition of the Indian Street Premier League will get underway from 6 to 15 March 2024.

    Apart from ibis Hotels, the Chennai-based team, led by serial entrepreneurs Rajdipkumar Gupta, Sandipkumar Gupta, and actor Suriya Sivakumar, has signed lucrative contracts with Nuwama Wealth, Hell Energy Drink, Yes Bank, TYKA and Route Energy, demonstrating their dedication to excellence and sportsmanship.

    In response to these historic partnerships, Chennai Singams co-owner Rajdip Gupta said, “The team and I are very elated to join hands with such esteemed global brands. Such sponsorships and collaborations are important to increase team visibility and boost overall performance. Looking forward to a great season this year and tying up with numerous brands in the years to come.”

    ibis, a globally recognised hospitality brand known for its modern accommodations and exceptional service, has joined forces with Chennai Singams as one of their premier jersey sponsors. Their association represents a shared commitment to excellence and performance, laying the groundwork for an electrifying debut in the ISPL.

    Chennai Singams also welcomes Nuvama Wealth, a well-known financial services provider, as a jersey sponsor. This collaboration represents the convergence of sporting and financial expertise, as both organizations strive for success and growth in their respective fields.

    Apart from that, Chennai Singams has joined hands with Hell Energy Drink as another valued jersey sponsor, adding vigor and vitality to their roster. Hell Energy Drink, with its invigorating blend and dynamic branding, complements the team’s energy and dynamism on the pitch.

    In addition, the ISPL cricket franchise strengthens its financial base by securing Yes Bank as a key jersey sponsor. As India’s leading private sector bank, Yes Bank’s partnership demonstrates stability, growth, and a common vision for cricket success.

    Chennai Singams has also partnered with TYKA, a well-known sports apparel brand known for its quality and innovation, to expand its roster of prestigious jersey sponsors. The TYKA association demonstrates a dedication to performance excellence and athletic prowess, which is consistent with the team’s philosophy.

    Chennai Singams has also joined hands with Route Energy, an emerging solar energy solution provider with expertise in efficiency products, solutions, and consulting services. The brand offers consulting services in the renewable energy and energy efficiency sectors from technological, industrial, policy, socioeconomic, and collaborative perspectives.

    ibis and ibis Styles India director of operations Tejus Jose said, “It’s going to be a great association with Chennai Singams as the popular game of cricket enters into different exciting formats. We, as one of the official jersey sponsors and partners of the franchise, wish all the luck and success to the team ahead of its ISPL debut.”

    As ISPL gears up for its exhilarating T10 tennis ball cricket tournament, the Chennai Singams vow to enthrall spectators with their dynamic displays on the transformed streets of Mumbai, now turned into stadiums.

  • YES BANK and CNBC-TV18 partner for ‘The Growth Summit’ Ahmedabad edition

    YES BANK and CNBC-TV18 partner for ‘The Growth Summit’ Ahmedabad edition

    Mumbai: The second edition of YES BANK and CNBC-TV18’s – The Growth Summit: A vision to a $10 trillion economy, in association with Max Life Insurance, was held in Ahmedabad, Gujarat. The event convened policymakers, industry leaders, startup founders, innovators, and academic experts to deliberate on crucial factors essential for India’s economic progress. Central to the Summit’s discussions was the government’s ambitious 25-year plan aimed at positioning India as the world’s third-largest economy with a GDP of $10 trillion.

    In his opening remarks at the Summit, YES BANK MD & CEO Prashant Kumar said, “Gujarat emerges as the cornerstone of India’s economic ascent, contributing a staggering 33% to the nation’s exports in FY 2022-23. With ambitions to reach a $1 trillion economy by 2030, Gujarat’s leadership extends beyond traditional sectors, fostering a thriving ecosystem for innovation and infrastructure development. As the world’s largest diamond hub in Surat and the birthplace of India’s first operational greenfield Smart City, Gujarat positions itself as the beacon of opportunity. The state is poised to absorb the influx of businesses seeking alternatives to China, catalysing India’s journey towards economic supremacy.”

    During his address, Kumar announced the launch of ‘Yes Private’ in Ahmedabad, which is the Bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavour to leverage the opportunities on the road towards a $10 trillion Indian economy.

    He added, “Yes Private has been thoughtfully curated to complement the retail and wholesale banking offerings in the market. It integrates the Bank’s expertise across the spectrum and brings a full-stack product suite for HNIs across family banking, business banking, wealth management and succession planning needs. The programme also lays out extraordinary privileges and experiences for clients pertaining to their distinct lifestyles in India and abroad.”

    The event kicked off with a thought-provoking discussion on ‘Strengthening Indian Business from Within’ in conversation with Rasna chairman & MD Piruz Khambatta. He stated “India’s growth narrative must encompass more than just development; it must address the challenges faced by its youth, including migration due to inadequate resources like clean water and air. India’s trajectory of growth, akin to that of South Korea, Germany, Japan, and China, is undeniable, yet we must define our unique growth model. As we navigate through discussions, let’s advocate for an inclusive ‘India model’ of growth that acknowledges both its benefits and challenges, fostering sustainable progress for generations to come.”

    Subsequently, panel discussion on the topic ‘From India to the World: Unleashing A New Era of Global Ambitions’ with Ashish Soparkar (MD, Meghmani Organics), Dr Vishal Rajgarhia (director, Finecure Pharmaceuticals Ltd) Rajiv Gandhi (MD & CEO, Hester Biosciences) Chirag Pan (MD & CEO, Pan Healthcare) and Behram Mehta (founder & MD, Aava Natural Mineral water) captivated the audience at the summit.

    The event progressed with an engaging conversation on ‘India’s Role as A Global Hub of Growth’ featuring AMUL (GCMMF) MD Jayen Mehta, where he said, “Agriculture is the base of our economy. However, in terms of numbers, still agriculture contribution is less than 20%. Hence, we need to support agriculture and farmers, while also working on doubling their income which is also the professor policy of the government. These efforts will help in supporting the number of people associated with agriculture which is more than 60-70 per cent of the population. The country still depends on agriculture as part of its primary income. So this is where a combination of policies that are pro farmer, pro-development and pro-market is the way forward for our country. So if you can build a bridge and if only 20% of us convert our regular food into organic food, the GDP from agriculture will rise. These are very, very small and objective steps one has to take and organisations like ours are working towards the same using the cooperative model and building the country.”

    In a special address, Max Life Insurance MD & CEO Prashant Tripathy added, “As India makes significant strides towards its ambitious goal of becoming a 10 trillion-dollar economy by 2030-31, there’s a growing need for India Inc. to partner with the government and democratize the benefits of this growth. It’s imperative that we ensure the advantages of our economic progress reach every segment of the society. There’s a strong call for players in the life insurance industry to align their strategies with IRDAI’s vision of ‘Insurance for All by 2047’- which calls for inclusive insurance coverage for India at large. Further, innovation and customisation must guide our product offerings to cater to the diverse and distinct needs of modern consumers, while distribution channels need to evolve to deliver convenience at every touchpoint, be it digital or otherwise. As we move forward, cross-functional collaboration supported by collective action will serve as the cornerstone for fostering inclusive growth, contributing to the shared prosperity of our nation.”

    The evening continued with an engaging panel discussion ‘Scaling the Global Value Chain’, with insights from industry experts Vineet Mittal (director, Navitas Green Solutions) Dr Viranchi Shah (national president, IDMA and director, Saga Laboratories) Aditi Gupta (managing partner, Menstrupedia) Sandeep Mittal (MD, Corrtech Energy Ltd) and Ravi Bhamidipaty (MD, TCT Ventures). They shared valuable insights on navigating global markets, contributing to an enriching discussion for the audience.

    Taking the evening towards its end a thought-provoking session conducted by leading neuroscientist & NeuroLeap founder Kumaar Bagrodia on ‘The Neuroscience of Investing’ was held.

    Concluding the summit was the final enticing conversation between CNBC-TV18 anchor Shruti Mishra and Indian cricketer Mohammed Shami. Talking about his journey, Shami said, “If your hard work and luck are in your favour, then I don’t think anybody can stop you. You just have to stay loyal to your game and keep working hard. I believe nobody can take away my luck from me. My family has been incredibly supportive and has played an integral role in my journey.”

    The Ahmedabad edition of ‘The Growth Summit – vision for a $10 trillion economy’ underscored India’s trajectory towards economic prosperity, as industry leaders and experts converged to chart a path towards a $10 trillion economy. With diverse voices and ideas from different industries of Gujarat, the summit left an indelible mark on the audience and shared a unique vision for India’s journey towards achieving its ambitious economic goals. The upcoming Summits are to be held in Bangalore, Delhi and Hyderabad in the weeks to come.  

    For more information visit: https://www.cnbctv18.com/ms/thegrowthsummit/

  • YES BANK and CNBC-TV18 join forces to chart India’s $10 Trillion economy path at ‘The Growth Summit’ in association with Max Life Insurance

    YES BANK and CNBC-TV18 join forces to chart India’s $10 Trillion economy path at ‘The Growth Summit’ in association with Max Life Insurance

    Mumbai: YES BANK, one of India’s leading private sector banks, in collaboration with CNBC-TV18 and Max Life Insurance, recently organised ‘The Growth Summit – Envisioning a $10 trillion Economy. The launch event was held in Mumbai on Thursday, the summit brought together policymakers, industry stalwarts, startup visionaries, and academic luminaries to deliberate on critical aspects pivotal to India’s economic advancement. Central to the discussions was the government’s ambitious 25-year roadmap aimed at positioning India as the world’s third-largest economy, with a targeted GDP of $10 trillion.

    In the opening remarks, YES BANK CEO & managing director Prashant Kumar said, “This is a first-of-its-kind initiative presented by YES BANK, along with CNBC-TV18. This summit is aimed at envisioning India’s path to self-reliance and economic prosperity. Bringing together business leaders, policymakers, experts and visionaries to explore how the key factorial strength and latest business trends can be leveraged to accelerate our nation’s economic progress towards a $10 trillion economy. Transferring India from a services-dominated economy to one that is powering growth on the back of its domestic manufacturing. The Indian government has outlined its long-term strategic focus aligned with the prime minister’s vision of a strong and developed India in the nation’s 100 years of Independence. I would like to thank everyone for being part of this journey of achieving a $10 trillion economy roadmap.”

    During his address, Kumar announced the launch of ‘Yes Private’, the bank’s newest market offering that aims to partner HNI Business owners and C-Suite executives in their endeavor to leverage the opportunities on the road towards a $10 trillion Indian economy.

    He added, “Yes Private has been thoughtfully curated to complement the retail and wholesale banking offerings in the market. It integrates the Bank’s expertise across the spectrum and brings a full-stack product suite for HNIs across Family Banking, Business Banking, Wealth Management and Succession Planning needs. The program also lays out extraordinary privileges and experiences for clients pertaining to their distinct lifestyles in India and abroad.”

    In an engaging fireside chat on ‘Getting India Ready For Business’ featuring Salesforce India CEO & chairperson Arundhati Bhattacharya said, “Boosting social infrastructure through smart investments is key to moving forward, as shown by the various government’s schemes. They aim to lift up the most vulnerable groups – like the poor, women, students, and farmers – who make up a big part of our population. Without achieving parity in productivity between women and men, the goal of attaining a $10 trillion economy by 2030 will remain elusive. Farmers haven’t reached their full potential yet. Our youth, who is the strength of our country, needs support. India will always be a basket of talent.”

    The day progressed with a thought-provoking panel discussion on ‘Kickstarting Private Investment: Risks, Rewards & Requirements’, where panellists Avaada Group chairperson Vineet Mittal, and Blue Star MD B Thiagarajan exchanged insights. Subsequently, a candid conversation with Indian Tennis Player & Grand Slam Champion/World No.1 Rohan Bopanna captivated the audience.

    The evening continued with an engaging fireside chat, exploring the themes of ‘Opportunity Meets Optimism: Making The Most of India’s Moment.’ Persistent Systems CEO & founder Anand Deshpande, shared valuable insights, stating, “It is very clear that India will get to a $10 trillion economy mark and I am very excited about that. In addition to engineering and other investments that we are looking at, we need to focus on some level of research and the higher end of the food chain in some sense. While we do this, we need to focus on entrepreneurship, especially at the grassroots level and their communication of education and entrepreneurship would be the two things that I would focus on. I believe that we need to move towards a world where there is continuous learning and the facilities of practical knowledge at educational institutions. India has the potential to be the leader, we have the largest number of people who know how to use AI and other software.”  

    The event transitioned seamlessly into another fireside chat featuring Tata Power CEO & MD Praveer Sinha, discussing ‘Investing Today in Tomorrow’s Growth.’  While giving insights into India’s energy transformation, Sinha said, “The power sector has undergone significant transformation over the past two decades. We’ve witnessed a doubling of capacity every decade: from 100 gigawatts in 2000 to 200 gigawatts in 2010, and currently exceeding 430 gigawatts. Ensuring affordable electricity access for all consumer categories remains crucial.”

    The concluding panel discussion titled ‘Shaping A New Growth Mindset Through Innovation & Ideas,’ highlighted luminaries such as Decimal CEO Shailesh Dhuri; SolarSquare Energy director Neeraj Jain, Intermed Laboratories director Riddhi Jhaveri, Lizmontagens India MD Sanjeev Prabhu. It was followed by The ‘Masterclass on Brain Mapping’ by NeuroLeap founder Kumaar Bagrodia.

    The closing note was delivered by Max Life Pension Fund Management CEO Ranbheer Singh Dhariwal concluding the summit on a high note.