Category: Business & Economy

** Debasish Panda to be IRDAI Chairman

More than 11 months after the post fell vacant, the Central government on Friday decided to appoint Debasish Panda, former Secretary, Department of Financial Services, as the Chairman of the Insurance Regulatory and Development Authority of India (IRDAI).

The Appointments Committee of the Cabinet has approved the appointment of Panda as IRDAI chief, initially for a period of three years from the date of assumption of the charge of the post or until further orders, whichever is earlier.

Subhash C. Khuntia retired as IRDAI chief in early May 2021 and the government didn’t fill up the post after that.

** Mentor Match raises $1 million in pre-seed round of funding

The start-up that went live from December 2021, currently operates through WhatsApp

Mentor Match, an ed-tech start-up, has raised $1 million in its pre-seed round of funding from Sapient Fund, a US-based seed-stage venture fund led by Karthik Sundaram.

Founded by a group architecture graduates, Rohit Raheja (CEO), Sachit Dugar (COO) and Rayhaan Shaik (CMO), the Chennai-headquartered Mentor Match is a self-study platform that helps students of Classes VIII-XII connect instantly with tutors through a one-on-one live video call for JEE, NEET, NTSE, Board exam and school exam aspirants. And interestingly, many tutors are students from institutions like IIT, NIT and BITS.

** NLCIL Mines I and II bag National Safety Award

Mines I of NLC India Ltd (NLCIL) has bagged the National Safety Award for three years from 2018 to 2020 under the category of lowest injury frequency rate per million cubic metre of output. Mines II has bagged the award under the category of longest accident-free period for 2020.

According to a release, the award was received by Suresh Chandra Suman, Executive Director (Mines), NLCIL, and P. Bharathidasan, senior employee, as representatives of the management and the employees, from Union Minister of Labour and Employment Bhupender Yadav at a function held in New Delhi on Thursday.

** IIT-Madras and Walmart Global Tech to work on research, skilling of students

The association is expected to help further empower the teams, collaborate on digital innovation and strengthen the education ecosystem in the country, says Walmart’s global chief technology officer

The Indian Institute of Technology – Madras and Walmart Global Tech have tied up to improve research in new areas of technology. The collaboration will be in the areas of continuing education and projects for corporate social responsibility for the chain stores’ India operations.

** The Hindu Group named Publisher of the Year by WAN-IFRA

Wins two golds, one silver and two bronzes at the WAN-IFRA South Asian Digital Media Awards 2021

The Hindu Group has been named the ‘Publisher of the Year’ for the second consecutive year at the WAN-IFRA South Asian Digital Media Awards 2021 owing to the highest number of tallies on the points table. For 2021, The Hindu Group shares the honour with HT Media Limited.

** Centre for excellence in non-thermal processing inaugurated at NIFTEM

A centre for excellence in non-thermal processing was inaugurated at National Institute of Food Technology, Entrepreneurship and Management (NIFTEM),Thanjavur.

It has been established at a cost of ₹10 crore for promoting next generation technologies and meeting global standards in research and academics. The research facility houses advanced food processing machinery for high pressure processing, pulse electric field processing, ultrasound processing, supercritical extraction, cold plasma processing, ultraviolet and pulsed light processing and ozone processing. In addition, with the support of Bhabha Atomic Research Centre, the centre will house a food irradiation unit.

** USIBC inducts three top executives to its India Advisory Council

The executives are heads of India operations of 3M, Dell, J&J, and Microsoft.

The US India Business Council (USIBC) has added three top executives to its India Advisory Council, a premier strategic body comprising a highly influential network of senior India-based executives and thought-leaders committed to growing trade and investment between America and India.

The executives are heads of India operations of 3M, Dell, J&J, and Microsoft. Ramesh Ramadurai, the managing director of 3M India; Alok Ohrie from J&J, Sarthak Ranade from Dell India and Anant Maheshwari from Microsoft India, according to a statement from USIBC.

** Cabinet nod for setting up WHO Global Centre for Traditional Medicine

It is to be established under Ministry of Ayush in Jamnagar

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the establishment of a WHO (World Health Organization) Global Centre for Traditional Medicine (WHO GCTM) at Jamnagar in Gujarat. An agreement was signed by the Government of India with the world body in this regard.

The WHO GCTM, to be established under the Ministry of AYUSH ( Ayurveda, Yoga, Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy), will be the first and only global outposted centre (office) for traditional medicines.

** Indian-origin expert helming first 4G network on Moon for NASA

Indian-origin Nishant Batra working as Chief Strategy and Technology Officer (CSTO) at smartphone maker Nokia is helping NASA to build the first ever cellular network on the Moon.

Batra joined Nokia as CSTO and a member of the Nokia Group Leadership Team in January 2021.

He holds an MBA from INSEAD, a master’s degree in telecommunications and a master’s degree in computer science from Southern Methodist University in Dallas, and a bachelor’s degree in computer applications from Devi Ahilya University in India.

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