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Mumbai gynecologist strives to treat everything from trauma to breast cancer! – Corelook Infotech

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Mumbai (Maharashtra) [India]: Covid; post-abuse trauma; breast cancer; complicated pregnancy & risky childbirth; a woman faces serious life threating health issues all the time. A good doctor can always help manage these peculiar health problems in women. Dr Tushar Tatyaba Palve, superintendent with the Cama and Albless Hospital, is on a mission to provide that much-needed expert help to innumerable women patients in and around the Mumbai Metropolitan Region. He’s relentlessly pursuing his mission to ensure good health for women even before the pandemic struck us.

Dr Tushar Palve was appointed as the Superintendent with the Cama & Albless hospital in March 2020 during the first wave of the Corona pandemic. As a head of the hospital and nodal officer for Covid, Dr Tushar Palve went beyond the call of duty to ensure successful treatment of about 1600 Covid patients and 60 Covid-infected babies with a mortality rate of mere 0.06 per cent. So much was his dedication that he was personally collecting the samples on swabs for RTPCR at Cama hospital’s Smart OPD! Some of Dr Tushar’s commendable contributions include setting up the first HDU at the hospital, separate oxygen plant for Covid patients, dedicated centralized oxygen supply to every bed, and a bio-medical waste converter.

Vaccination was a critical element in winning the war against Covid. Dr Tushar Palve led from the front here as well and conducted a whopping 75 vaccination camps. The Covid Vaccination Center (CVC) vaccinated close to 1.40 lakh citizens over a period of time, thus ensuring safety for all.

In the next important step, Dr Tushar Palve targeted the rising breast cancer issue in MMR. Breast cancer can be treated successfully if detected at an early stage. Dr Tushar Palve conducted breast cancer awareness sessions and screening camps at remote areas of Thane, Palghar, Shahapur and underprivileged areas of Mumbai. About 430 women were screened and a whopping 20% of them had breast cancer! Thankfully they could start the treatment immediately. The screening and awareness camps are also being held at various Government offices, banks, court premises and rural areas. These are important and helpful for the women who cannot access or afford the mammography and other related tests.

One of the most important and modern aspect for women’s healthcare is trauma care. Recently, Dr Tushar Palve started a One Stop Crisis (OSC) center at the Cama hospital. The OSC focuses on providing a safer and more comfortable environment for survivors of gender-based violence. It is the first such center in a women’s hospital in Mumbai. The OSC has been set up under the Central Government’s Nirbhaya Fund. The OSC will have five beds apart from access to counsellors and lawyers to assist the victims of domestic abuse. Apart from this Dr Tushar Palve led the renovation and modernization of all wards at the Cama hospital over a period. This directly benefits the patients who get access to the latest healthcare infrastructure at the Cama hospital.

Dr Tushar Palve also has a green thumb – he has created a Miyawaki forest within the limited space of the Cama hospital with the help of Keshav Srushti, an NGO. This Miyawaki forest is now a home to a whopping 125 species of flora and fauna. The total number of trees planted and are happily growing in this forest is over 8500! More importantly, this forest is maintained with great love by the authorities involved.

Dr Tushar Palve has also published several research papers on Covid patient management at national and international conferences. Dr Tushar  Tatyaba Palve has received awards from the Government of Maharashtra as well as Kerala for his great work.

 

YOGEE: A Revolution in Sustainable Ayurvedic Beauty and Wellness – Corelook Infotech

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Dr. Yogesh Suradkar and Neha Suradkar Launch YOGEE, a Conscious Movement that Fuses Ancient Wisdom with Modern Science to Redefine Beauty and Wellness

Mumbai, Maharashtra [India]: In a world where beauty often comes at the cost of nature, one brand is challenging the status quo. YOGEE, founded by Dr. Yogesh Suradkar and Neha Suradkar, is not just a beauty and wellness brand; it’s a conscious movement that unites the power of nature with the brilliance of innovation. This dynamic duo is on a mission to redefine beauty and wellness, making it more sustainable, inclusive, and in harmony with nature.

Dr. Yogesh Suradkar, a luminary with an 18-year track record in the global beauty industry, has spearheaded this revolution. His journey through industry giants like L’Oréal, Marico, and P&G equipped him with unparalleled expertise, but it was his passion for holistic beauty experiences that set the stage for YOGEE. “We sought to empower people to make conscious beauty a way of life while preserving nature and contributing positively to the community. This is what gave birth to YOGEE,” Dr. Suradkar passionately shares.

Neha Suradkar’s life path has been a beautiful blend of beauty, fashion, education, artistic expression, and entrepreneurship, and her passion shines brightly in all her endeavours. With over 15 years of experience, she is a catalyst for positive change for those around her in the realms of fashion, makeup and education. With a genuine love for making others feel beautiful and empowered, Neha recognizes the importance of inclusive and practical beauty for all.

Together, they’ve created a brand that seamlessly fuses ancient wisdom with modern science. YOGEE’s philosophy embraces Ayurveda, Phytochemistry, Biotechnology, and Microbiomics, all while maintaining unwavering eco-consciousness. This innovative blend, aptly named “BioAyurPro Fusion Technology,” has led to the filing of 20 patents.

At its grand debut on September 8, 2023, at the Westin Goregaon Garden City in Mumbai, YOGEE showcased a holistic range of 100% organic, natural, and sustainable products. From haircare to skincare, body care, and wellness solutions, YOGEE caters to diverse needs, making it a brand synonymous with conscious living and sustainable beauty. The launch event was nothing short of a celebration, despite the heavy rains, reflecting YOGEE’s unyielding commitment to its mission.

Dr. Suradkar expressed his gratitude to the attendees, acknowledging the challenges they’ve faced. “This launch marks a significant step towards redefining the way we approach beauty and wellness. We’re on a mission to empower individuals to embrace a sustainable lifestyle that nurtures both themselves and the planet,” he passionately emphasized.”

The launch event was graced by influencers, industry experts, and individuals who resonate with YOGEE’s vision of holistic well-being and sustainability. They had the opportunity to experience YOGEE’s products firsthand, witnessing the luxury of light textures and authentic fragrances of essential oils, all while knowing that each product adheres to eco-friendly packaging and sustainable practices.

As YOGEE takes its first steps into the beauty and wellness landscape, it invites everyone to join #TheYOGEETribe. Together, we embark on a path towards holistic well-being, sustainability, and a more beautiful world. YOGEE isn’t just a brand; it’s a lifestyle, a movement, and a promise to cherish your beauty in harmony with nature. So, why compromise when you can have it all with YOGEE? It’s time to revolutionize your beauty regime and embrace a more sustainable, inclusive, and eco-conscious path to well-being.

To explore more, please visit https://www.theyogeeexperience.com/

Contacts:

Mail Id: yogeshs@theyogeeexperience.com

Instagram : @theyogeeexperience

Facebook: @theyogeeexperience

KareXpert achieves Ayushman Bharat Digital Mission Certification, paving the way for the digital healthcare revolution – Corelook Infotech

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This milestone achievement positions KareXpert as a driving force behind the “Digital Healthcare Revolution” sweeping across the nation

KareXpert, Jio-backed India’s leading digital healthcare platform for hospitals, has announced its readiness for the Ayushman Bharat Digital Mission (ABDM) HealthID. This step underscores KareXpert’s dedication to advancing the Digital Healthcare mission within the country’s hospital and healthcare framework. By obtaining ABDM certification, KareXpert establishes itself as a pioneering force in the endeavor to digitize medical records, facilitate seamless data exchange, and propel the healthcare sector in India into the era of the ‘Digital Healthcare Revolution’. Through the Ayushman Bharat Digital Mission, every individual will receive a digital health ID, ensuring their health records are securely stored digitally. This initiative aims to effectively leverage technology in healthcare delivery, fostering inclusivity and equity in the process.

India’s healthcare landscape has long faced challenges in digitizing medical records, with approximately 95% of the country’s approximately 70,000 hospitals lacking comprehensive EMR systems for Outpatient (OPD) and Inpatient (IPD) care. The ABDM, spearheaded by the National Health Authority (NHA) under the Government of India, aims to usher in a new era of digitization by creating an ecosystem of EMR Adoption and exchanging health records to enhance care across all clinical processes in hospitals. Digital Incentive Scheme is also announced by the Indian government for better adoption of digitization.

Traditionally, Hospital Information Management Systems (HIMS) majorly focused on billing functions rather than generating comprehensive EMR data for patients. Recognizing this gap, KareXpert collaboratively engaged with the ABDM team to facilitate the certification journey. The path, though challenging, entails ensuring hospitals possess the necessary EMR capabilities, ABHA ID (national Healthcare ID) and integration with the ABDM ecosystem. KareXpert emerged as a pioneering force in this transition, boasting a robust Health Cloud ecosystem that currently caters to 45+ EMR specialities.

With KareXpert’s cutting-edge technology, hospitals can seamlessly transform their operations, achieving paperless workflows in various clinical processes, including OPD, IPD, ICU, OT, Daycare, and Emergency services. KareXpert Health Cloud’s ABDM module is fully equipped with all the government-mandated features, offering a standard ABDM connector for effortless integration, zero-touch provisioning, and a hassle-free user experience across hospitals of all sizes.

Speaking on the announcement, Nidhi Jain, KareXpert’s Founder & CEO, said, “We are thrilled to be part of India’s healthcare revolution through our ABDM certification. This milestone solidifies our commitment to fostering a paperless, efficient, and patient-centric healthcare ecosystem. With ABDM compliance, hospitals can not only enhance patient care but also tap into valuable financial incentives, setting the stage for a more digital and connected healthcare future.”

The Indian government’s commitment to the National Digital Health Mission is evident through proactive measures. In Budget 2023, Finance Minister Nirmala Sitharaman increased the allocation for the Ayushman Bharat National Digital Health Mission to INR 341.02 crore, marking a substantial 70.51% rise from the previous FY23 allocation of INR 200 crore.

KareXpert is currently assisting over 200 hospitals in 70+ cities & 24 States, catering to more than 10 million patients, and managing a database of over 12 million EMR records. These resources will add value as hospitals finalize their ABDM registration. In essence, hospitals must participate in the ABDM-certified HIMS ecosystem to ensure ongoing functionality and smooth interaction with both insurance providers and patients.

KareXpert has already successfully onboarded several hospitals, positioning them as pioneers in adopting ABDM-compliant solutions. The company extends an invitation to healthcare institutions nationwide, offering live demonstrations showcasing how they can seamlessly transition to ABDM-compliant processes, fully embracing KareXpert’s Cloud-ready, Mobile-ready, and AI-ready technologies.

About KareXpert

With the aim to make access to quality healthcare a reality for everyone, Reliance Jio-backed KareXpert is India’s first digital healthcare platform for Hospitals and providing AI-enabled, cloud-based, Mobile-first solutions for hospitals. The company offers a 60+ pre-integrated applications to hospitals (Advanced HIMS, EMR/EHR, LIMS, RIS/PACS, Pharmacy, Connected Ambulance, Advanced BI, MIS, e-Claim, Telemedicine, Inventory & SCM, Queue Management, Counseling, Optical Store, and Branded Mobile Apps) through its comprehensive range of state-of-the-art applications which is designed to bring 10x patient experience, reduce operation costs, and increase revenues. KareXpert’s technology has already been implemented at some of India’s best hospitals, including Mahindra Group, Reliance Foundation, and 200+ large/medium hospital facilities, etc., and within the next 5 years; KareXpert aims to digitally transform 100,000 hospitals creating the largest Health Cloud of the world.

Juhu: Mumbai’s Luxury Residential Haven for India’s Crème De La Crème – Corelook Infotech

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Nestled in the bustling city of Mumbai, the vibrant suburb of Juhu has risen to prominence as a highly sought-after micro-market for luxury residential properties. With a breathtaking beach, seamless connectivity, and thriving social scene, Juhu has become a magnet for celebrities, top professionals, industrialists, and business owners in search of an opulent and convenient lifestyle. Its spectacular rise as the preferred residential destination for Mumbai’s elite has spurred the development of prestigious projects by the city’s leading real estate developers.

Juhu: A celebrity Magnet

Juhu is an ideal luxury choice for those who have successfully found their way in the city of dreams. At the heart of Mumbai, Juhu hosts the most exquisite lifestyle with 5-star hotels, exclusive clubs, fine dine restaurants, premium designer boutiques and what not! Some of the famous names include JW Marriott, One8 Commune (Virat Kohli’s restaurant), Soho House, Gauri Khan Designs, Ritu Kumar, Arpita Mehtaflagship store, Method’s third art gallery, etc. The buzz and shine of these lifestyle hubs make Juhu a star magnet.

The allure of Juhu as a celebrity hub is undeniable, with a constellation of A-list film stars, directors, and prominent figures from the entertainment industry calling it home. The likes of Amitabh Bachchan, Akshay Kumar, Hrithik Roshan, Anil Kapoor, Ajay Devgn, Varun Dhawan, Katrina Kaif, and other celebrities, including fashion designer Sandeep Khosla, interior designer Sussane Khan, and Indian cricketer Virat Kohli, have all found solace within Juhu’s exclusive enclaves. Their presence adds an extra layer of glamor and exclusivity to this already prestigious neighborhood.

Beyond the realm of celebrities, Juhu has also witnessed an influx of top professionals, industrialists, and business owners like Agarwal Holdings Private Limited, Sharad Vrajlal Parekh (Nilkamal Limited), J Kumar Infra projects’ Managing Director Nalin Gupta and Samar Chauhan (executive director of Parle) who recognize the grandeur and convenience that comes with residing in this upscale suburb. Juhu’s strategic proximity to business districts, entertainment hubs, and amenities makes it an ideal choice for Mumbai’s crème de la crème.The upcoming Coastal Road will significantly ease commute, taking just 10 minutes from Juhu to Bandra and 12 minutes from Bandra to Marine Drive.

A New Era of Ultra-Luxurious Properties

Numerous studies and reports have acknowledged Juhu’s status as a residential hotspot for the affluent in Mumbai. The micro-market is bordered by the Arabian Sea to the west, Vile Parle and Santacruz to the east, Versova to the north, and Khar to the south, offering an exquisite coastal setting.

Adorned by palatial residences and private bungalows or old standalone towers, Juhu is one of the rarest places in the busy city of Mumbai, which offers an opportunity to live by the sea.

The demand for high-end luxury residential properties in Juhu has surged in tandem with the exponential growth in the real estate industry. The area boasts a handful of ultra-luxurious sea-facing apartments and upscale villas developed by renowned builders. Noteworthy projects such as Prime Beach Apartments, Presidency Society, El Palazzo, Sea Breeze Apartments, Marina Apartments, Sliver Beach Apartments and new modern developments such as Maestro and Valletta by K Raheja Corp Homes are turning a new leaf and adding unparalleled luxury to the esteemed neighborhood where refined living takes the center stage.

Raheja Modern Vivarea: Redefining Sustainable Luxury Living – Corelook Infotech

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In the heart of Mumbai’s premium locality, Mahalakshmi stands a remarkable project that encapsulates the essence of luxurious and sustainable living – Raheja Modern Vivarea. This visionary project by K Raheja Corp Homes not only redefines urban living but also integrates cutting-edge engineering interventions to create an unparalleled living experience.

Engineering Excellence and Sustainability

Spread across 3 acres, Raheja Modern Vivarea features two west-facing towers that offer breathtaking views of the Golf Course, Racecourse, and the Arabian Sea. The project presents a selection of 3 and 4-bedroom apartments, customized to meet the unique preferences of residents. What sets Raheja Modern Vivarea apart is its commitment to sustainable living.

The engineering interventions employed in this project are both innovative and environmentally conscious. During the under-construction phase, the use of ‘green energy’ minimizes greenhouse gas emissions and reduces air pollution. An advanced astronomical timer-based lighting system adjusts outdoor lighting schedules based on real-time data for sunrise and sunset, optimizing energy usage.

In line with the commitment to sustainability, the project features EV-enabled charging infrastructure for residents, encouraging the adoption of electric vehicles. Energy-efficient cooling systems, water heating systems, low-flow water fixtures, and DG laminated glass are employed to minimize noise and energy wastage. Robust fire suppression systems ensure safety, utilizing sprinklers and hydrants.

Sustainable Living for a Better Tomorrow

Raheja Modern Vivarea addresses the growing demand for sustainable living by integrating eco-friendly practices and advanced technologies. Buyers today seek not only quality structures but also projects that minimize environmental impact. By utilizing high solar reflective materials and vegetated roofs, the project incorporates topsoil preservation, tree relocation, pollution control, and microclimate preservation.

The indoor environment is optimized with cross ventilation, ample daylighting, and double-glazed units with low U value and SHGC. Energy management measures include solar hot water systems and LED lighting, reducing common area lighting by 10%. The project embraces VRV air conditioning systems, energy-efficient pumps, and motors, all contributing to sustainability.

Technological Innovations

The construction of Raheja Modern Vivarea showcases the integration of various technological innovations. Notably, the utilization of green energy during construction eliminates greenhouse gas emissions. The project features EV-enabled charging infrastructure, aligning with sustainable transportation trends. The astronomical timer-based outdoor lighting system optimizes energy consumption.

Energy-efficient air conditioning and water heating systems, along with low-flow water fixtures, contribute to conservation efforts. Advanced features like DGU laminated glass with acoustic film ensure optimal acoustics and comfort. These technological advancements enhance sustainability, efficiency, and safety standards.

Thoughtful Material Choices

Raheja Modern Vivarea’s construction reflects thoughtful material choices aimed at minimizing environmental impact. Locally produced building materials reduce operational expenses and transport costs. Effective waste management methods are employed, reusing materials like broken bricks and concrete scraps. Environmentally safe paints, sealants, and adhesives are used. The project boasts a 100% post-occupancy organic waste management system.

Exquisite Façade Design

The building facade at Raheja Modern Vivarea is a masterpiece. Designed to be eco-friendly, visually appealing, and energy-efficient, it boasts IGBC Gold pre-certification. The facade optimizes natural light and minimizes energy consumption. It features fully openable French windows, DGU laminated glass with acoustic film, and a modern design that reflects the city’s moods.

Water Conservation and Indoor Environment

The project’s commitment to sustainability extends to water conservation. Low flow plumbing fixtures, on-site sewage treatment plants, and rainwater harvesting are implemented to minimize water waste. Drip irrigation systems ensure efficient water usage for landscaping. Raheja Modern Vivarea places a strong emphasis on maintaining indoor environmental quality. Advanced ventilation systems, high-quality HVAC systems, low toxicity building materials, ample natural light, and smart home technology collectively create a healthy and comfortable indoor environment.

Location Advantages

Situated in Mahalakshmi, Raheja Modern Vivarea enjoys a prime location with excellent connectivity to key business districts and landmarks in Mumbai. Proximity to major railway lines, roadways, and iconic sites like the Mahalakshmi Racecourse enhances its appeal. The project offers mesmerizing views of the Arabian Sea and Mumbai skyline, combining convenience, opulence, and exclusivity for a lavish lifestyle.

In conclusion, Raheja Modern Vivarea stands as a testament to the harmonious blend of luxury and sustainability. With innovative engineering interventions, advanced technologies, and a commitment to eco-friendly practices, it represents a new standard for urban living. As we move towards a future of conscientious living, projects like Raheja Modern Vivarea pave the way for a greener, smarter, and more luxurious tomorrow.

Crafting Dreams into Reality with The New Brick Constructions – Your Trusted Partner – Corelook Infotech

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In construction and design, where bricks and spaces are formed from ideals, one company stands resolute in transforming visions into elegant realities: The New Brick Constructions.

With a commitment to quality, innovation, and customer satisfaction, The New Brick Constructions becomes a partner in realizing your ambitions.

Our Mission: Building Your Dreams, One Brick at a Time

At The New Brick Constructions, we recognize that a house comprises more than four walls and a roof. It is a haven, a place where memories and lives are interwoven. Our progenitor, Nimit Rangar, envisioned a construction company that exceeded the norm.

With the slogan “Building your dream home,” our mission is crystal clear: to design spaces that reflect your desires.

Services Tailored to Your Imagination

Our range of services extends well beyond construction. We take great pride in delivering turnkey residential and commercial undertakings. From the conception to the finishing touches of the furnishings, our commitment to quality craftsmanship permeates every step. Your ideal home is not merely a possibility with The New Brick Constructions; it is a guarantee.

The Essence of Us: Distinctive Attributes

Expertise in Holistic Practices Under One Roof

The New Brick Constructions exemplifies the combination of originality and skill. Our team comprises architects, interior designers, layout planners, and civil work specialists who operate in tandem. This eliminates the need for subcontracting and guarantees that your project is a harmonious symphony of talents.

The Awards That Confirm Excellence

Our dedication to excellence is not merely an assertion; it is certified. Our membership in MSME and GEM and our ISO 9001:2015 certification attest to our credibility and dependability. When you partner with us, you align yourself with a company renowned for its excellence and professionalism.

Time-Bound Delivery and Beyond

Time is crucial, and we recognize its importance. With our promise to deliver custom-designed Kothi and Villas within 14 months, you can rely on us to make your ideal reality as quickly as possible. However, our commitment continues beyond there. We provide maintenance-free service for over two years, ensuring that your space continues to radiate excellence.

Your Dreams, Our Canvas: A Decade of Excellence

Since over a decade ago, we have been transforming visions into physical spaces. Every project reflects our dedication to customization, from quaint residences to sprawling villas. The past decade has been a journey of development, education, and the realization of architectural masterpieces.

A Taste of Luxury: Exclusive Offerings

We provide access to high-quality products beyond our primary services through partnerships with international brands. From flooring to furniture, wall cladding to fabric, our alliances guarantee your space exudes luxury and sophistication.

Your Dreams, Our Reality: Connect with Us

Your dream space is just a step away. Explore our world at www.thenewbrick.com, where you’ll find our portfolio, services, and contact information. When you reach out to us, you’re not just reaching a company; you’re connecting with a team committed to making your dreams come true.

Together, let’s turn your vision into a masterpiece. Contact The New Brick Constructions today, and let’s build your dreams, one brick at a time.

Mo. +91 73037 51515

Indian government scraps IDBI Bank disinvestment valuation bid, plans fresh process – Corelook Infotech

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The Department of Investment and Public Asset Management (DIPAM) has decided to scrap the bid for an asset valuer for the strategic disinvestment of IDBI Bank, a move that might potentially delay the bank’s disinvestment initiative commenced earlier this year. The bid, originally issued in September, is now set to be replaced with a new request for proposal (RFP).

On September 1, DIPAM started the process by asking for proposals for value of IDBI Bank. The main goal is for the government and LIC to sell about 60.72% of their shares in the bank. The government plans to sell 30.48%, and LIC wants to sell 30.24%. This will give control of the bank to a strategic buyer. After the sale, LIC will still have 19%, and the government will keep 15%.In October of the previous year, the Centre had called for expressions of interest from potential acquirers, leading to several proposals by January.

However, the Indian government has now decided to cancel the bidding process to hire an asset valuer for the planned IDBI Bank share sale, as announced in a statement by the Department of Investment and Public Asset Management. The government has not provided a specific reason for this decision. Instead, they plan to initiate a fresh round of bids to select a valuer for their stake in the lender.

According to CNBC,the decision to cancel the bidding process comes after the government had invited bids to appoint a valuer, and subsequently relaxed the criteria last month, finding the initial conditions to be stringent.

Tuhin Kanta Pandey, the Secretary of the Department of Investment and Public Asset Management, revealed last week that the Indian government does not expect to conclude the sale of IDBI Bank by the end of the current financial year on March 31, 2024. This latest development introduces an element of uncertainty into the timeline of the IDBI Bank disinvestment and underscores the complexities inherent in such strategic initiatives.

THDC plans massive ₹15,000 crore investment to boost Karnataka’s power sector – Corelook Infotech

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Karnataka, Tehri Hydro Development Corporation (THDC) India Limited, a joint venture between the Government of India and the Government of Uttar Pradesh, has announced plans to invest ₹15,000 crore in power projects in the state. The announcement was made by Karnataka’s Energy Minister, KJ George.

The investment is part of THDC’s broader strategy to expand its footprint in the renewable energy sector and contribute to India’s ambitious goal of achieving 175 GW of renewable energy capacity by 2022. The projects in Karnataka will play a crucial role in this endeavor.

Minister George expressed his optimism about the investment, stating that it would not only boost the state’s power capacity but also create numerous job opportunities. He further emphasized the importance of renewable energy in combating climate change and ensuring a sustainable future.

They have yet to disclose the specific details of the projects, including their locations and the types of renewable energy technologies to be used. THDC has a strong track record in implementing hydroelectric and wind power projects, suggesting that these technologies could feature prominently.

Industry experts have welcomed the announcement and believe that the investment could significantly enhance Karnataka’s renewable energy capacity and pave the way for further investments in the sector.

This development marks a significant milestone in THDC’s growth trajectory and underscores its commitment to promoting renewable energy in India. It also highlights the pivotal role of public-private partnerships in advancing India’s renewable energy goals.

 


Ola Electric turns into public ltd. co. in run-up to IPO filing this month – Corelook Infotech

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Ola Electric, a leading player in India’s electric vehicle (EV) sector, has transitioned from a private limited entity to a public limited one. This transformation is a critical step for any firm aiming for a stock exchange listing.

Previously it was known as, Ola Electric Mobility Private Limited, the company has now officially rebranded itself as Ola Electric Mobility Limited. With a commanding market share of nearly 35%, Ola Electric is a key player in India’s EV industry.

Ola Electric’s commitment to sustainable mobility is reflected in its relentless innovation and the production of state-of-the-art electric vehicles at its Future factory. This facility, based in India, is recognized as the country’s largest, most advanced, and most sustainable two-wheeler EV factory.

The firm recently raised funding of ₹3,200 crore in equity and debt rounds from prominent investors led by Temasek, along with project debt from the State Bank of India. These funds will be utilized to expand Ola’s EV business and to establish India’s premier lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu.

Ola Electric was the only Indian EV firm selected under the government’s ambitious cell PLI scheme, receiving a maximum capacity of 20 GWh. This scheme aims to promote self-reliance and localize the most crucial aspects of the EV value chain. Ola’s Futurefactory in Krishnagiri, Tamil Nadu, will host India’s first lithium-ion cell manufacturing facility. The initial capacity of 5 GWh in phase 1 will be progressively increased to 100 GWh at full capacity.

Ola Electric has also expanded its scooter portfolio to include five products, with prices ranging from ₹89,999 to ₹1,47,499. These scooters, unveiled at Ola’s annual flagship event, are built on an advanced Gen-2 platform, positioning them as one of the most attractive EV options across various price points in the current market.”

RBI announces bid to normalize liquidity with ₹50,000 crore VRRR auction – Corelook Infotech

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Reserve Bank of India (RBI) has announced that it will conduct a 14-day Variable Rate Reverse Repo (VRRR) auction on November 17, 2023. The auction will involve a substantial amount of Rs 50,000 crore, marking a significant move in the country’s monetary policy.

The VRRR is a part of the RBI’s liquidity adjustment facility (LAF) and serves as a tool to manage banking system liquidity. Banks with surplus funds can deposit their excess liquidity with the RBI through this mechanism, earning interest in return.

The decision to conduct a 14-day VRRR of such magnitude is seen as a strategic move by the RBI. It reflects the central bank’s ongoing efforts to normalize the exceptional liquidity measures that were put in place during the COVID-19 pandemic.

The auction will be conducted using the multiple price method. This means that successful bidders will get the allotment at their respective bid rates. The RBI will accept bids between 10:00 AM and 10:30 AM on November 17. The result of the auction will be announced on the same day.

This move is expected to have a significant impact on the country’s banking sector and overall economy. It will help in better liquidity management and ensure stable and low-cost funding for banks. Moreover, it will also aid in maintaining financial stability in the system.

The RBI’s decision to conduct the VRRR auction is in line with its commitment to ensure a smooth transition from accommodative to neutral liquidity conditions. It is a part of the central bank’s phased normalization process, which aims to gradually restore the liquidity operations to pre-pandemic levels.


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