HDFC Securities opens women-only Digital Centre in Bengaluru : HDFC Securities, a leading stock trading firm, has announced the establishment of India’s first Women-Only Digital Centre (DC). This innovative centre, manned entirely by women, will serve both male and female investors. the youth, while taking charge of their finances, need a better understanding of the investment process to make the most of the financial markets.

 

The establishment of the pan-India Digital Centers is intended to assist clients in obtaining the best outcomes possible from the HSL platforms with the aid of professional relationship managers. Customers won’t need to look for a physical branch because the DCs will allow them to obtain support whenever they need it. The opening of multiple DCs around India will facilitate service access and encourage the usage of digital technology.

 

* The Women-Only DC is an effort to promote diversity within the company and to provide its clients with technology that makes the path to financial independence easier. The company’s emphasis on digital is also influenced by the fact that Gen Z accounts for 27% of India’s young adult population, which is among the largest in the world. For this innovative digital centre, the corporation plans to hire women under the age of 30. For the Bengaluru Women-Only DC, HDFC Securities intends to engage more than 100 relationship managers.

* The Women-Only DC would be located in Bengaluru and serve clients from Telangana, Karnataka, Tamil Nadu, and Andhra Pradesh.

* The Women-Only Digital Centre is the first step in empowering Indian women to be self-sufficient.

* It would make it easier for women investors to utilise these financial services, as only 7% of Indian women invest independently in financial markets, and 33% have no financial investments.

* Hiring women as DC relationship managers will contribute to the efforts to ensure diversity and enable women to handle their finances.

* It will serve both types of investors, male and female; nevertheless, having a women-only team will attract more women to explore investment possibilities and support in making informed investment selections.

* Having women in charge of the centre will empower other women to handle their investment portfolios, make informed decisions, and achieve financial security.

PhonePe on Thurday(20th Oct 2022) announced the launch of its first Green Data Center in India, leveraging technologies and solutions from Dell Technologies and NTT. 

 

The Green Data Center is set to open up new opportunities in data management for PhonePe, with efficient data security, power efficiency, ease of operations and cloud solutions. 

 

The center will also help the company to build sustainable and efficient infrastructure to further seamlessly scale its operations across the country. 

 

Speaking at the launch Burzin Engineer, co-founder and chief reliability officer, PhonePe said, “Today, if there is one thing about PhonePe that echoes with millions of users, it is the reliability and speed of the transaction. It is with this ethos that we are very excited to work with Dell Technologies and NTT to launch our first Green Data Center in India.  This data center will not only help in further seamlessly scaling our business but also help in reducing our carbon footprint.”

 

The 4.8-megawatt facility occupies 13,740 sq.ft at Mahape, Navi Mumbai. It is built and designed with advanced alternative cooling technologies like Direct Contact Liquid Cooling (DCLC) and Liquid Immersion Cooling (LIC). 

 

The data center’s Dell PowerEdge servers will expected to provide exceptional performance, simplified management, and intelligent automation while using less energy.

 

In a statement, Manish Gupta, Vice President and General Manager, Infrastructure Solutions Group, Dell Technologies India said, "The launch of PhonePe’s first Green Data Centre is a significant milestone on its journey to achieving its sustainability goals.

 

 We are delighted to extend our long-standing relationship with PhonePe by supporting them with our industry-leading infrastructure..

Source : Business World

As compared to 40th out of 43 countries in 2021, India ranked 41 out of 44 countries in the Mercer CFS Global Pension Index. The MCGPI is a comprehensive study of 44 global pension systems, accounting for 65 percent of the world’s population.

The survey pointed out that the country needs to strengthen its regulatory framework and boost the coverage under private pension arrangements.

 

What The Report Said : “In the absence of social security coverage in the country, the adequacy and sustainability sub-indices can be improved significantly by boosting coverage under private pension arrangements,” the report based on the survey said.

 

About The Report : Mercer CFS Global Pension Index studies 44 countries that account for 65 per cent of the world’s population. The index value was up from 2021 but below that in 2020. In 2020, India ranked 34 out of 39 countries with a value of 45.7. In 2022, the index value was 44.4.

 

The index measures the pension system in the country under three sub-heads, adequacy, sustainability and integrity. India’s score in these three measurements was 33.5, 41.8 and 61 respectively.

 

Overall Ranking : Globally, Iceland had the highest overall index value (84.7), closely followed by the Netherlands (84.6) and Denmark (82.0). Thailand had the lowest index value (41.7).

 

About India : The survey also highlighted that the penetration of private investment in India is low. With 95 per cent of the total workforce being in the unorganised sector, there needs to be an improvement in pension arrangements. “There is hope that new labour codes, when implemented, would give access to such coverage and drive the necessary improvement in the adequacy and sustainability sub-indices,” it added..

Source : Business Standard

India ranks "third" in the world's first-ever global study on the rise of centi-millionaires -- individuals with assets of more than Rs 830 crore ($100 million), a new report has revealed.

Out of the world's 25,490 centi-millionaires, India has 1,132, beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs, and heirs.

By 2032, India will overtake China (number 2) as the fastest growing market for centi-millionaires, with an anticipated 80 per cent growth rate in individuals worth over $100 million, the report released by international investment migration advisory firm Henley & Partners stated.

"At around 57 per cent, the growth of centi-millionaires in Asia will be twice that of Europe and the US over the next decade. Concentrated primarily in China and India, the centi-millionaires in these countries are set to eclipse their European and American peers," said Misha Glenny, a financial journalist and author.

Of the world's 25,490 centi-millionaires, the US, which ranks at number 1, is home to 38 per cent (9,730) of global centi-millionaires, despite constituting only 4 per cent of the world's total population.

It is closely followed by big emerging markets of China and India in second and third place, with 2,021 and 1,132 centi-millionaires, respectively.

The UK is in fourth place (with 968 centi-millionaires) followed closely by Germany in fifth place (with 966), Switzerland (808), Japan (765), Canada (541), Australia (463), and finally Russia (435) make up the rest of the top 10 countries for centi-millionaires..

Source : Business Insider

Global Dignity Day is observed every year on the 3rd Wednesday of October. This year(2022) Global Dignity Day is observed on the 19th of October.

* The day is an initiative to educate and inspire young people and help them to understand their self-worth and goals.

* It was established in 2008 and continues to grow in popularity. Dignity is an inherent part of the human condition.

* It is an initiative celebration day that educates and inspires young people. Global Dignity Day is celebrated to make everyone living in this world realize that they have rights and deserve respect in every aspect.

 

Global Dignity Day History : The first Global Dignity Day was observed on October 20, 2008. The third Wednesday of every October marks this celebration Day.

* Professor Pekka Himanen, John Hope Bryant, and HRH Crown Prince Haakon are the ones who established this Day. Global Dignity is an autonomous, non-political, non-profit, non-criticism organization working towards dignity for all people.

* They create a global conversation about dignity and support dignity-based leadership to discuss the issue of dignity with the group of young people.

* On this Day, voluntary facilitators conduct events by visiting schools and tell students about their lives and experiences with dignity.

* The voluntary facilitators can be of any nationality and any profession..

Former Civil Aviation Secretary "Pradeep Singh Kharola" was on Wednesday(19th Oct 2022) appointed as the Chairman and Managing Director of India Trade Promotion Organization (ITPO), a Personnel Ministry order said.

* Kharola, a 1985 batch Indian Administrative Service (IAS) officer of Karnataka cadre, retired as the Civil Aviation secretary in September 2021.

 

* He took over as the chairman of the National Recruitment Agency (NRA) -- mandated to conduct computer-based Common Eligibility Test for government job recruitment -- in March 2022.

 

* He will continue to hold the charge of the post of chairman, NRA, till appointment of a regular incumbent in his place, the order said..

Source : Money Control

Youth from 70 countries will participate in a  Global Youth Climate Summit 2022 to be inaugurated on Thursday(20th Oct 2022) in Khulna, Bangladesh. 

 

* The three day summit between October 20-22 will bring together 650 youth in a hybrid format with 150 youth participating in person and 500 online. 

 

* The youth will explore how they can lead the fight against climate change. 

 

* Elaborating the purpose of the summit, Ejaj Ahmad, the CEO of the Global Youth Leadership Centre (GYLC) which is organising the programme, said that the  GYLC is being launched as a global organisation to mobilise youth especially from the Global South to tackle the climate crisis. 

 

* The mission of GYLC is to expand youth’s knowledge about climate science, equip them with leadership skills to take individual and collective action, and enable them to launch businesses that contribute to climate mitigation or adaptation.

 

* Ejaj Ahmad said that Khulna has been chosen as the inaugural venue of the GYLC as it is one of Bangladesh's most climate vulnerable regions. 

 

* The youth taking part in the summit will undertake mangrove plantation in the Coastal belt to promote locally led climate adaptation and highlight the importance of mangroves, which are critical for human beings as well as for biodiversity. 

 

* He said that to empower youth to take climate action, 10 delegates at the Summit will receive a grant of USD 1,000 each to implement their climate mitigation or adaptation project.

 

* The Global Youth Climate Summit will bring together renowned climate scientists, policymakers, entrepreneurs, leadership experts, and youth climate activists..

Source : AIR

The world’s largest exclusive business platform for the spice sector, 14th World Spice Congress (WSC), organized by Spices Board India (Ministry of Commerce and Industry, Govt. of India) in association with various trade and export forums, is scheduled to be held at CIDCO Exhibition and Convention Centre, Navi Mumbai, Maharashtra during 16-18 February 2023. 

Over 1000 delegates from more than 50 countries are expected to participate in the event.

 

This biennial event organized by Spices Board India remains the premier platform that brings the global spice industry together to deliberate on the problems and prospects in the spices sector.

The event looks forward to deliberations on aspects such as production, processing, value addition, quality and safety, trade, and supply chain management of spices in the new normal situation.

The Regulatory Authorities from major importing countries and Ministry of Trade and Export Promotion agencies of the G_20 member countries are expected to have deliberations with Indian Spice Industry.

 

“This time, Spices Board is organizing the World Spice Congress as a G20 event on the sidelines of India’s G20 presidency for the period December 2022 to November 2023 with more focus on further strengthening India’s trade ties with the G20 countries” informed Shri D Sathiyan IFS, Secretary, Spices Board.

Interaction with the regulatory authorities of the major importing countries and Ministers of Trade and industry association of the G20 member countries are expected to take part in the WSC 2023. 

 “The 14th edition of the WSC is going to be all about and only about ‘SPICES’. The theme chosen for the current edition of WSC is ‘Vision 2030: SPICES’ (Sustainability– Productivity – Innovation – Collaboration- Excellence and Safety)” he added..

Source : PIB

The government on 19th Oct 2022 appointed financial services secretary "Sanjay Malhotra", a 1990-batch Indian Administrative Service officer of Rajasthan cadre as officer on special duty (OSD) in the revenue department.

He will become the revenue secretary after incumbent Tarun Bajaj retires on November 30, according to an official order.

 

Malhotra, an IIT Kanpur alumnus, will be responsible for giving final touches to all tax-related matters related to the forthcoming Union Budget for 2023-24 as the top bureaucrat of the revenue department, which is one of the key arms of the Union finance ministry. The Budget is expected to be presented on February 1, 2023..

Source : Hindustan Times

World Osteoporosis Day is observed every year on October 20. The day is observed with the aim of raising global awareness about the prevention, diagnosis, and treatment of osteoporosis and metabolic bone disease. Osteoporotic fractures affect around 10 million Indians each year, both males and females.

 

World Osteoporosis Day was launched on October 20, 1996, by the United Kingdom's National Osteoporosis Society, supported by the European Commission. The World Health Organization (WHO), in 1998, was the co-sponsor of World Osteoporosis Day.

 

World Osteoporosis Day 2022 Theme : The theme for World Osteoporosis Day 2022 is "Step Up For Bone Health". Bone health is important at all stages of life. However, having strong bones is something that people should not take for granted.

What is Osteoporosis :

* In osteoporosis, bones become weak and fragile, so that they break easily - even after a minor fall, a bump, a sneeze, or a sudden movement.

 

* Approximately one-third of women and one-fifth of men aged 50 and over will suffer an osteoporotic fracture worldwide. Osteoporosis-induced fractures can be life-threatening and cause long-term pain and disability..

Source : India Today