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Indian companies with <keyword id="58959" type="UNKNOWN" weightage="20" keywordseo="Foreign-investors">foreign investors</keyword> who carry out Corporate Social Responsibility (<keyword id="6354502" type="ORGANIZATION" weightage="20" keywordseo="CSR">CSR</keyword>) programs are now being scrutinized by the government. The companies reportedly are increasing stinging activities in the grey areas among their CSR contributors. 
 Companies with more than 50% foreign shareholders make donations to NGOs that have obtained Foreign Contribution Regulation Act (FCRA) clearance. Organizations like <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword>, HDFC, ICICI and Hindustan Liver have started their own foundations under the CSR project. 
 
As per a report published in ET, many companies like ICICI await clarifications from the government in this grey area. In March 2015, ICICI’s foreign shareholding was 41.23% and in the past, it crossed the foreign shareholding cap under FCRA of 50%. The bank, which spends over 2% of its profit in CSR in skills development, livelihood, health, and elementary education, does not give grants to NGOs but to its Foundation, which in turn partners with NGOs. 
 "<keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> doesn't invest in <keyword id="339601" type="ORGANIZATION" weightage="20" keywordseo="ICICI-Foundation">ICICI Foundation</keyword> — it is a donation and contribution for social causes. In that perspective, we made a representation two to three years ago to the ministry of corporate affairs about not putting us under the purview of FCRA, but there has been no response," says Chinmay Sengupta, COO, ICICI Bank Foundation.

CSR input of Indian companies with foreign shareholders to get distressed

New Delhi, Feb 26 () The CSR arm of ICICI Group has signed a pact with agri-research body ICAR for training and capacity building of farmers. The pact was signed between ICICI Foundation for Inclusive Growth and ICAR last week, the Foundation said in a statement on Wednesday. As per the agreement, the Foundation through its 'Rural Livelihood programme' will leverage ICAR's knowledge and research and enrich the existing training programmes for farmers, spanning over 1,000 villages across 29 states. Further, the Foundation along with ICAR will evaluate and design various new courses for enhancing farm productivity in various commodities, the statement said. The two partners will also undertake collaborative programmes in sharing technical knowledge and know-how for training and capacity building for the benefit of farmers. They will also take up research and development activities. Additionally, the collaboration will focus on an integrated farming approach with allied activities (like dairy, fisheries, apiculture, horticulture, etc.) to ensure that farmers are able to earn a sustainable livelihood. "This MoU is a significant development that will lead to wide dissemination of the expert knowledge residing with ICAR institutes, universities and the KVKs (Krishi Vigyan Kendras) including application of various research that are undertaken," ICAR Director General Trilochan Mohapatra said. ICICI Foundation President Saurabh Singh said the collaboration will focus on developing large agri-value chains. Under the Rural Livelihood programme, the Foundation has so far trained and enabled sustainable livelihood for 5,00,000 people. LUX SHW ANUANU

ICICI Foundation ties up with ICAR for enhancing farm output

While the Indian economy grows tremendously every year with the increase in working population, there continues to be a wide gap between the skilled labour force and the employment opportunities available. According to a 2014 <keyword id="6355833" type="ORGANIZATION" weightage="60" keywordseo="united-nations">United Nations</keyword> report, India has the world’s largest youth population of 356 million 10-24-year-olds and by 2020, India is expected to become the world’s youngest country. As 68.8% of Indians live in the rural areas, the problem of underemployment looms one of the fastest growing countries in the world. <keyword id="6653" type="ORGANIZATION" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> through their <keyword id="6354502" type="ORGANIZATION" weightage="20" keywordseo="CSR">CSR</keyword> division <keyword id="339601" type="ORGANIZATION" weightage="20" keywordseo="ICICI-Foundation">ICICI Foundation</keyword> is actively trying to close this gap in by focusing on <keyword id="2840939" type="LOCATION" weightage="20" keywordseo="Skilling-India">Skilling India</keyword> before Making in India. ICICI is trying to reach the very last mile to train the underprivileged youth across the length and breadth of the country, and these programs have already trained approximately 2,00,000 individuals to achieve their dreams. Uplifting a community One such individual is <keyword id="6162243" type="PERSON" weightage="20" keywordseo="arjun-solanki">Arjun Solanki</keyword> who had to let go of his education at the young age of 14 when he lost his father to tuberculosis in the small village of Baroda Sindhi, near Indore, <keyword id="6355554" type="COMPANY" weightage="20" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, His life took a tough turn and while his friends went to school every morning, Arjun would head to fields and building sites to find work. His family depended on him for their daily bread and he was forced to look for work every day for survival. So, when Arjun’s friend Shravan advised him to take up a two-month paint application course to enable him to find better employment, he was willing to learn. The free-of-charge course was held at <keyword id="2974508" type="ORGANIZATION" weightage="20" keywordseo="ICICI-Academy-of-Skills">ICICI Academy of Skills</keyword> where Solanki was enrolled for a two-month period while his elder brother supported the family during that time. At that time, Solanki didn’t realize that his life was about to change; he not just learnt how to paint immaculately but also learnt how to work in a formal organization by emulating soft skills like how to talk to potential clients, and gain trust to close work contracts. Arjun’s hard work and persistence paid off when Rajesh Roshan, a painting contractor from Indore hired him and promoted him from a supervisor to a subcontractor in just ten months! He now gets contracts regularly and has gained popularity amongst his peers for his success. Solanki realizes how the skill training changed his life and now has higher ambitions than ever before. Arjun has uplifted his family from poverty and bought them a pukka house in the village. Not just that, he has even put a borewell outside his home for the community use and has inspired the villagers to pursue skill training courses. From struggling to earn Rs. 100 a day looking for labour work, Solanki is now employing trained youths from the Academy of Skills who work alongside him on considerable painting contracts. When he entered the <keyword id="6162242" type="ORGANIZATION" weightage="20" keywordseo="icici-skill-academy">ICICI Skill Academy</keyword>, he was not aware at the time that he will be able to build a beautiful life for himself, his family and his community. <div type="Youtube" id="hdmzwrkmh3o" title="ICICI Bank - Corporate Social Responsibility - Arjun Solanki" thumbUrl="https://i.ytimg.com/vi/hdmzwrkmh3o/mqdefault.jpg"></div>

 People who enter the industries, currently have limited understanding of the business they are entering therefore targeted initiatives focused on particular skills can help train individuals better for taking up any job. ICICI has designed several programmes under the Skill Development initiative that provide trainees with industry-relevant vocational skills. ICICI Academy for Skills (IAS) The ICICI Academy for Skills offers training in 11 technical and office skills and the courses are specially crafted for underprivileged youth between the ages of 18 and 30 years. It has trained over 79,000 candidates through its 24 centres free-of-cost. To ensure best-in-class skill training programmes, the Academy has partnered with various industry leaders as knowledge partners to co-create the course curriculum and content and has also set-up laboratories for imparting practical training. Rural Self Employment Training Institutes (RSETIs) As part of a national programme initiated by the <keyword id="386230" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Rural-Development">Ministry of Rural Development</keyword> (MoRD), ICICI has set up Rural Self Employment Training Institutes (RSETIs) in Udaipur and Jodhpur. This programme focuses on providing free vocational training in locally-relevant skills that empower villagers to be self-reliant. The initiative also promotes entrepreneurship and development of micro-enterprises by providing loans. ICICI RSETIs offer 38 programmes and over 61,000 individuals have been trained at RSETIs. RSETIs offer 2-4 weeks courses for underprivileged rural people in the age group of 18-45 years. ICICI also makes sure that the needs of local employers are mapped to design relevant courses under the rural initiative that are customised to suit the local requirements with a focus on practical execution of skills. All the trainees are additionally oriented on life skills, financial literacy and workplace organisation (Five S) to ensure a holistic learning experience. The ICICI Foundation has tied up with a large number of industry partners to provide employment opportunities to their trainees. The trainees have been placed in over 1000 companies including Eureka Forbes, Daikin, Bluestar among others. ICICI Foundation also promotes self-employment and encourages trainees to set up their own micro-enterprises like Arjun Solanki who has become self reliant after a two-month skill training course. <a href="https://www.icicibank.com/csr/index.html?utm_source=business_insider&amp;utm_medium=article&amp;utm_campaign=csr2017&amp;utm_content=skill-development-business-insider-article" data-type="tilCustomLink" target="_blank">Disclaimer: This post is sponsored by ICICI Bank </a>

Here’s how a free skill training course uplifted a daily-wage worker out of poverty

Can you imagine turning one Indian village digital every day? <keyword id="6653" type="CITY" weightage="100" keywordseo="ICICI-bank">ICICI Bank</keyword> claims it will do it. 
 ICICI <keyword id="6355272" type="CITY" weightage="20" keywordseo="Bank">Bank</keyword>, today announced that it will transform 100 villages into Digital Villages through a number of measures. 
 
These villages will enable villagers to use digital channels for banking and payments transactions. There, villagers will be able to open bank accounts using Aadhar-based e-KYC and make cashless payments to retail stores through a unique SMS/USSD-based mobile solution. 
 Additionally, ICICI Bank in association with <keyword id="339601" type="ORGANIZATION" weightage="20" keywordseo="ICICI-Foundation">ICICI Foundation</keyword> will impart vocational training to nearly 10,000 underprivileged villagers, especially women, to help them earn a sustainable livelihood. The bank will also extend credit facilities to the trained villagers in a bid to boost self-employment opportunities in the villages. 
 This ambitious move is inspired by the success of India’s first digital village, created by ICICI Bank at <keyword id="3896834" type="UNKNOWN" weightage="20" keywordseo="akodara">Akodara</keyword> in <keyword id="48360" type="CITY" weightage="20" keywordseo="Sabarkantha">Sabarkantha</keyword> district of Gujarat. Ms. <keyword id="45875" type="PERSON" weightage="20" keywordseo="Chanda-Kochhar">Chanda Kochhar</keyword>, MD &amp; CEO, ICICI Bank said , “We strongly feel that technology can play an important role in putting development on a fast lane.” 
 
The bank will create a cashless ecosystem at these villages, provide vocational training to 10,000 villagers in first 100 days and offer them credit linkages so that the villagers can start their own business ventures. 
 
<a href="http://www.businessinsider.in/MobiKwik-launches-a-light-lite-app-to-integrate-all-Indians/articleshow/55662642.cms">ALSO READ: MobiKwik launches a 'lite' app for seamless transactions, even on basic connection</a> 
 
ICICI Bank will use <a href="http://www.businessinsider.in/EXCLUSIVE-Inside-Paytm-the-first-24-hours-after-demonetization/articleshow/55581182.cms">tablet-based banking and Aadhar-based e-KYC </a>to help villagers open accounts in few hours without submitting physical documents. All adults in the villages will have saving accounts, which will be linked to <keyword id="155319" type="COMPANY" weightage="20" keywordseo="Aadhar">Aadhar</keyword> to enable direct transfer of government benefits into these accounts. There will be dedicated branch and ATM of ICICI Bank to service these accounts. 
 
The bank will provide a <a href="http://www.businessinsider.in/Is-your-credit-card-a-debt-sentence/articleshow/55617326.cms">unique SMS &amp; USSD based mobile service</a> which will facilitate the villagers to transfer funds, receive alerts &amp; statements and make payments to retail stores by using their mobile phones. This SMS banking will be available in regional languages and will function on basic mobile phones. The Bank will also set up end-to-end merchant infrastructure that will enable the retailers at the village to accept mobile based payments. 
 
The bank will also create a cashless, digital payment ecosystem for the predominant commercial activity of these villages and set up Point-of-Sale (POS) machines at seed and fertilizer outlets for cashless transactions using Rupay cards. 
 All this is being done in the wake of <keyword id="6362150" type="UNKNOWN" weightage="20" keywordseo="demonetization">demonetization</keyword> when the country's villages are suffering the most. As someone who saw how Akodara's citizens were reaping benefits from the digitization, this move is not only lauded but necessary right now.

ICICI
Bank to transform 100 villages into ‘Digital Villages’ in 100 days

Chennai, Aug 22 (IANS) In a share swap deal, non-life insurer ICICI Lombard General Insurance Company will acquire the business of Bharti AXA General Insurance Company Ltd. In a regulatory filing late Friday, ICICI Lombard said the boards of the two companies -- ICICI Lombard and Bharti AXA General -- had met on Friday and approved entering into definitive agreements for demerger of Bharti AXA's non-life insurance business into ICICI Lombard through a Scheme of Arrangement. According to ICICI Lombard, the shareholders of Bharti AXA General will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA General held by them as on the date on which the Scheme of Arrangement is approved by the Board of Directors of the two companies. The share exchange ratio was recommended by independent valuers and accepted by the boards of the two companies, ICICI Lombard said. Under the terms of the agreement, AXA and Bharti will receive a total of 35.8 million shares of ICICI Lombard on closing, which would represent 521 million euros, at current market value - the closing price of ICICI Lombard shares on August 21, AXA said in a statement. According to ICICI Lombard, the proposed transaction would enable it to consolidate its market and become the third largest non-life insurer in the country with a market share of about 8.7 per cent. As a result of the deal, ICICI Lombard shall be able to augment its distribution strength with Bharti AXA General's existing distribution partnerships. Employees of the combined business will also benefit via greater opportunities across functions and geographies, ICICI Lombard said. The closing of the proposed transaction is subject to various conditions, including regulatory approvals from the Insurance Regulatory and Development Authority of India, Competition Commission of India, The Securities and Exchange Board of India, Stock Exchanges, Reserve Bank of India, National Company Law Tribunal and approval of shareholders of both ICICI Lombard and Bharti AXA General, amongst others. "This is a landmark step in the journey of ICICI Lombard and we are confident that this transaction would be value accretive for our shareholders. "We are excited by the capabilities and strengths that Bharti AXA will add to our franchise. The company has a talented employee base with a strong cultural fit, and we look forward to welcoming them to the ICICI Lombard family. "We would also like to reassure Bharti AXA's policyholders and channel partners of seamless business continuity and maintaining highest standards of customer service," Bhargav Dasgupta, MD &amp; CEO of ICICI Lombard General said. Rakesh Bharti Mittal, Chairman of Bharti AXA General said, "We are delighted that the partnership between Bharti and AXA has been successful in laying down a solid foundation in the domestic insurance landscape. Over the past few years, our business demonstrated consistent growth, forged productive partnerships and increased the distribution footprint significantly. We are confident that the proposed amalgamation of our business with ICICI Lombard will bring greater business synergies and create value for all stakeholders." According to ICICI Lombard, the Implementation Agreement contains customary terms for a transaction of this nature, including representations, warranties, indemnities and non-compete covenants from the relevant parties. Post deal, the promoter holding in ICICI Lombard will be 48.11 per cent and public will be 51.89 per cent. Both Bharti and AXA will be public shareholders. In a communication to colleagues, Bharti AXA General's MD &amp; CEO Sanjeev Srinivasan said once the regulatory approvals are obtained, an interim committee with representation from both the companies will be set up for successful completion and transition of the business. Till such time regulatory approvals are obtained both the companies - ICICI Lombard and Bharti AXA General- will function independently. --IANS vj/rs/bg

ICICI Lombard to acquire Bharti AXA General Insurance business

Mumbai, Jul 2 () Buyout major KKR on Thursday said it will purchase majority stake in J B Chemicals and Pharmaceuticals from its promoters and then make an open offer to acquire 26 per cent more in the branded formulations company. The private equity major has signed a definitive agreement to acquire stake from the Mody family at Rs 745 a share, which is over 4 per cent higher than Thursday's close of Rs 715.40, it said in a statement. KKR has entered into a definitive agreement to purchase a "controlling stake" in the company, it said. If one attaches the premium promised by KKR, 50 per cent equity in the company is valued at over Rs 2,860 crore, which will be the minimum amount it will be investing, excluding the open offer. According to filings, the promoter family owns 55 per cent of the company while the rest is with the public. "We believe J B Chemicals has an opportunity to accelerate its growth and leverage its strengths to enter into new therapeutic areas. We look forward to working with the management team to build on the company's strong foundation," KKR India Partner and CEO Sanjay Nayar said. The deal, which comes amid a heavy hit to the Indian economy due to the COVID-19 pandemic, underscores KKR's commitment to "India's long-term economic prospects and the potential of its companies", Nayar added. This is the third deal sealed by KKR in India in 2020, following its investments in five solar assets of Shapoorji Pallonji Infra and in Reliance Jio. The KKR statement further said J B Chemicals is one of the leading pharmaceutical companies in India, supplying affordable, high-quality products in the cardiac, gastrointestinal and anti-infective therapeutic areas across the branded formulations market. The company's portfolio includes four flagship brands in India -- Cilacar, Metrogyl, Nicardia and Rantac, the statement said, adding it exports to over 40 countries. KKR will be funding the investment from its Asian Fund III, it said. "We are thrilled that KKR - with its deep knowledge of the pharmaceutical industry and experience in investing in the sector, as well as its extensive investments in India - will take our mission forward and build on the foundation of core values that our family has instilled in this company," J B Mody, the founder, chairman and managing director of the company, said. Avendus Capital served as the financial advisor to the company promoters, while ICICI Securities will be acting as the manager to the public offer. In a late evening communication, ICICI Securities said that Tau Investment Holding is making an open offer to acquire 20.09 million shares of the company together with Tau Holdco Pte and KKR Asia III Fund Investments Pte. The JB Chemicals scrip gained 1.41 per cent to close at Rs 715.40 apiece on the BSE on Thursday as against gains of 1.21 per cent on the benchmark. AA AKT ABM ABM

KKR to acquire controlling stake in JB Chemicals & Pharmaceuticals

<ul><li>The company’s shares had been subscribed 175.43 times by the end of its last day of subscription.</li><li>Nazara is the first pure play gaming company in India to head for the public markets.</li><li>Nazara holds the licenced mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu.</li></ul>All eyes were on <keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> today, as it got listed on the stock exchange. The Indian gaming and sports media company saw its shares list at ₹1990 – a jump by 80.7%. The shares were trading at ₹1819 at 10.08 am. However, by the end of the day the shares were trading at ₹1576. Nazara’s strong listing saw its first hint in the grey market premium – where it was <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/nazara-grey-market-premium-at-71-hints-at-strong-listing/articleshow/81743818.cms">trading</a> at 71% of its issue price of ₹1101. However, the grey market is not an official measure of the market premium. The company’s shares had been <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-subscribed-by-175-times/articleshow/81588602.cms">subscribed 175.43</a> times by the end of its last day of subscription. It received bids for 51.20 crore equity shares against the issue size of 29.20 lakh equity shares. Nazara was the first pure play gaming company in India to head for the public markets, and had also garnered a lot of market interest as it is also backed by ace stock market expert Rakesh Jhunjhunwaala. Nazara holds the licenced mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. And it is the company’s stronghold in the booming gaming industry that has got a lot of <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">attention</a> from investors. According to a report by ICICI Direct, the gaming industry in India is currently valued at $ 1.54 billion and is expected to grow at a CAGR of 31% to $ 3.53 billion by 2023. And Nazara is well positioned to lead the growth. The gaming company’s deep presence in India and abroad has also been working in its favour. In an earlier interview with <a href="https://www.businessinsider.in/stock-market/news/ahead-of-nazara-technologies-ipo-the-ceo-says-its-public-listing-will-put-indian-gaming-on-the-world-map/articleshow/81533128.cms">Business Insider</a>, Nazara’s chief executive officer Manish Agarwal had said that the company understood the Indian market and gaming mindset to develop content accordingly. And analysts agree that this gives the company an advantage. “The company has an operating leverage advantage in gamified early learning on account of captive development of content being undertaken in India, while generating revenues inter alia from North America. Further, its leadership in eSports and sports simulation and geographical reach across India, Middle East, Africa and North America provide a strong foundation for growth,” said the ICICI Direct report. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ahead-of-nazara-technologies-ipo-the-ceo-says-its-public-listing-will-put-indian-gaming-on-the-world-map/articleshow/81533128.cms">Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map</a>

Nazara Technologies sees a blockbuster listing – shares list at 81% premium

US President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword>'s daughter and his advisor <keyword id="21449" type="PERSON" weightage="100" keywordseo="Ivanka-Trump">Ivanka Trump</keyword> on Wednesday batted for formulation of policies that support greater participation of women in workforce while speaking at a session on the second day of Global <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">Entrepreneurship</keyword> Summit (GES) in Hyderabad on Wednesday. <keyword id="6354862" type="PERSON" weightage="20" keywordseo="Trump">Trump</keyword> went on to talk about technology that can be used to allow women to work from kitchens and help reduce the gender gap. "I think it's incredibly important that policies support modern families... We need to start thinking about ways to support the modern workforce and the modern reality in household. I think technology is a great driver," she said. Trump was speaking at the session on 'We can do it! Innovations in workforce development and skills training', the panelists of the session included Cherie Blair, Founder, Cherie Blair Foundation for Women; <keyword id="45875" type="PERSON" weightage="20" keywordseo="Chanda-Kochhar">Chanda Kochhar</keyword>, Managing Director and CEO, ICICI Bank and Karen Quintos, Chief Customer Officer, Dell EMC. Trump said it is necessary to align what is being taught in the classroom with economic realities. <keyword id="3301815" type="PERSON" weightage="20" keywordseo="Ivanka">Ivanka</keyword>, 36, is a businesswoman and a fas hion designer; she is been dealing with allegations from critics that her personal brand uses bad labor practices in its production, particularly in China, where the bulk of her U.S. merchandise ships from. While Trump has stepped back from day-to-day management of her brand before taking on an official role as <keyword id="6356037" type="LOCATION" weightage="20" keywordseo="white-house">White House</keyword> adviser, she still retains an ownership interest. Critics are asking the brand to reveal the names and addresses of their suppliers for greater transparency which has now become even more difficult after Trump took the new role in the White House. So far Trump has not taken a public stand on alleged abuses in her brand's own supply chain.

Ivanka Trump bats for greater participation of women in workforce amidst dealing with allegation of bad labour practices with her own brand

New Delhi, Jan 17 () Realty firm Gaurs group on Friday announced an investment of Rs 10,000 crore over the next five years to develop housing, commercial, schools, hospitality and healthcare projects in the national capital region.
 The group announced this investment plan on completion of its 25 years of operation.
 "We have completed and delivered more than 50,000 units in the last 25 years. Now, we are targeting to deliver another 50,000 units in the next five years. We will increase our focus in commercial segment which is doing very well," Gaurs group Managing Director Manoj Gaur told reporters here.
 He said the company's sales bookings have been strong despite demand slowdown in the housing market. Sales booking jumped to Rs 4,000 crore from Rs 1,600 crore in the previous year.
 Gaurs claimed that the company has never defaulted in delivering units to customers and repayment of debt to financial institutions.
 On future plan, Gaur said the company would be investing Rs 10,000 crore over the next five years to develop projects across all verticals -- housing, offices, retail, hotels, service apartments, schools and hospitals.
 These projects would be mainly at Noida, Greater Noida, Yamuna Expressway and Ghaziabad in Uttar Pradesh. The company will soon be foraying into Dehradun market with a mixed-use project.
 Gaurs group is developing 237 acre township 'Gaur City' at Noida Extension and 250-acre township at Yamuna Expressway in Greater Noida.
 Asked about source of fund to make this huge investment, company's director Sarthak Gaur said it will be through internal accruals and debt.
 "We have a customer receivable of nearly Rs 3,000 crore. We also have unsold unit of Rs 2,000 crore," he added.
 On the commercial segment, Gaur said the company has so far developed about 25 lakh sq ft of commercial area of which around 15 lakh is under the lease model.
 "We plan to develop 10 million sq ft of commercial space in the next 5 years. We have a rental income of Rs 100 crore currently and target is to touch Rs 400 crore in the next five years," he said.
 Asked about the company's turnover and debt, Manoj Gaur said the turnover fluctuates between Rs 1,200 crore to Rs 2,000 crore depending on revenue recognition based on area completion, while its debt is around Rs 2,000 crore.
 Gaurs Group recently raised Rs 450 crore in debt from ICICI Bank and the amount will be used for a shopping mall project in Greater Noida.
 The group CSR arm Gaurs Foundation tied up with Pinkishe Foundation, an all-women NGO that works for empowerment of girls and women. MJH SHW
SHW

Gaurs group to invest Rs 10K cr in next 5yrs on various realty, hotel, hospital projects in NCR

(Eds: Adding details) New Delhi, May 1 () IDFC First Bank on Friday said it will raise a fresh equity capital of Rs 2,000 crore from investors, including its promoter and a Warburg Pincus firm. The decision was taken on Friday at the meeting of its board, which approved to issue 86.24 crore shares on a preferential basis to ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, Bajaj Allianz Life Insurance, Dayside Investment (Warburg Pincus group entity), and to its promoter IDFC Financial Holding Company Ltd, the bank said in a regulatory filing. Under the fundraising, the equity shares will be issued at Rs 23.19 apiece to the existing and new investors, subject to shareholders' nod and other approvals. "The bank will use this capital to power growth, to continue to invest in liabilities and asset franchise, technology and infrastructure platforms to expand reach, product suite and to improve customer experience," it said in a release. Under this fresh fundraising, qualifying for common equity tier 1 or CET1, the bank will get Rs 800 crore from its promoter IDFC Financial Holding Company Ltd, while Rs 600 crore will be infused by ICICI Prudential Life Insurance Company. HDFC Life Insurance Company, Bajaj Allianz Life Insurance Ltd and the US-based private equity fund Warburg Pincus group-affiliate Dayside Investment Ltd will pump in Rs 200 crore each into the bank. The promoter will acquire 34,49,76,282 shares and ICICI Prudential Life 25,87,32,212 units, while the rest of the three investors will buy 8,62,44,070 shares each. The private sector lender said the new capital infusion will strengthen its capital adequacy to 15.5 per cent with CET 1 ratio at 15.3 per cent (calculated on December 31, 2019, base of 13.28 per cent, substantially higher than the regulatory requirements). This will enable the bank to accelerate growth of its deposit and asset franchise, it added. V Vaidyanathan, managing director and chief executive officer, IDFC First Bank, said, "Within one year after merger (of Capital First), the bank has made strong progress across all strategic priorities and set a strong foundation for growth. The new fund with strong capital adequacy will enable us to continue to power up growth in the chosen areas. It also empowers us to navigate current market uncertainties from a position of strength." He said that in one year of merging Capital First with itself, the bank's retail lending grew 32 per cent year-on-year and retail deposits were up 157 per cent year-on-year. The merger took place in December 2018. The bank's net interest margin (NIM) increased sharply to 3.86 per cent in the third quarter of 2019-20 ended December 2019 and is expected to continue rising. The bank has built strong intellectual property in its business in a focussed manner and the opportunities for growth for the lender are unlimited, Vaidyanathan said. Having recently been rated 'FAAA' by rating agency Crisil for its fixed deposit programme of Rs 50,000 crore -- the highest safety rating by Crisil in this category, he said that with the new equity capital raise, the position is further strengthened and will help the bank raise more retail current account-saving account (CASA) and retail deposits and thereby reduce the overall cost of funds for the bank. During the fourth quarter ended March 2020, retail assets increased 32.4 per cent year-on-year to Rs 54,027 crore, it said. The lender's retail loan book as a proportion of total loans grew from 10 per cent as of March 2018 (pre-merger) to 60 per cent as on March 31, 2020, (including retail priority sector lending) and is running ahead of the 5-year guidance of 70 per cent given at the time of merger. The bank has reported strong retail asset quality with gross non-performing assets (NPA) at 2.26 per cent of the gross advances and net NPAs at 1.06 per cent at the end of the December 2019 quarter. IDFC First Bank said Dayside Investments Ltd along with Cloverdell Investment Ltd --both Warburg Pincus LLC Group entities -- together holds 47,72,64,867 equity shares, constituting 9.92 per cent of the pre-issue shareholding and 56,35,08,937 equity shares constituting 9.93 per cent of the post-issue shareholding of the bank. The total number of the bank's paid-up equity shares will be 567,23,43,720 after the issue, it said. "The net worth of the bank post the issue and as added to the net worth as of December 31, 2019, will be Rs 17,240 crore," IDFC First Bank said. The lender said the said preferential allotment shall be subject to approval of the members of the bank proposed to be sought through postal ballot by way of 'Remote E-Voting' in terms of the applicable circulars recently issued by MCA (April 2020) in view of the current extraordinary circumstances due to the COVID-19 pandemic requiring social distancing and also in accordance with relevant Sebi norms. KPM HRS

IDFC First Bank to raise Rs 2,000 cr capital from promoter, Warburg Pincus, 3 others

<ul><li>Shares of textile companies gained as investors cheered the government’s approval for the <keyword id="8940266" type="General" weightage="20" keywordseo="production-linked-incentive-scheme" source="Orion">production linked incentive scheme</keyword> (<keyword id="53367" type="General" weightage="20" keywordseo="pli" source="Orion">PLI</keyword>) for textile.</li><li>The scheme is reportedly expected to provide employment to 7.5 lakh people.</li><li>Analysts believe some quality textile stocks will continue to rise for a few more trading sessions.</li></ul>A few textile company stocks gained on Wednesday as investors cheered the government’s approval for the production linked incentive scheme (PLI) for the textile industry in India. Under the scheme, incentives worth ₹10,683 crore will be provided over five years to the sector. The move is positive for the sector and the economy as it will help bolster domestic manufacturing, boost employment and scape up exports. The scheme is reportedly expected to provide employment to <a href="https://www.ndtv.com/business/incentives-worth-over-rs-10-000-crore-approved-for-textiles-sector-payout-to-be-spread-over-5-years-2533900">7.5 lakh people</a>. PLI scheme typically provides incentives to companies for enhancing their domestic manufacturing apart from focusing on reducing import bills and improving the cost competitiveness of local goods. The news led to a rise in shares of the textile companies like <keyword id="70578" type="General" weightage="20" keywordseo="alok-industries" source="Orion">Alok Industries</keyword>, <keyword id="6362630" type="General" weightage="20" keywordseo="arvind" source="Orion">Arvind</keyword>, <keyword id="3438494" type="General" weightage="20" keywordseo="deepak-spinners" source="Orion">Deepak Spinners</keyword> and others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textile companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share gain </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Alok Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Arvind </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Deepak Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Trident </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.87% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nitin Spinners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.27% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Siyaram Silk Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.46% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.64% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gokaldas Exports </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.58% </td></tr></tbody></table> Analysts believe some quality textile stocks will continue to rise for a few more trading sessions. Saurabh Jain of SMC Global Securities <a href="https://www.livemint.com/market/stock-market-news/textile-stocks-experts-recommend-these-shares-after-pli-scheme-approval-11631092694705.html">reportedly </a>said, “As the cabinet approval for PLI scheme to the <keyword id="45095" type="General" weightage="20" keywordseo="textile-sector" source="Orion">textile sector</keyword> has been announced, some quality textile stocks are expected to extend this rally in upcoming trade sessions as well.” The Indian textiles and apparel industry is one of the largest in the world and is also a key contributor to India’s export, as it contributes 12% to export earnings and 2% to the GDP, according to Indian Brand Equity Foundation, a government’s export promotion agency. Meanwhile, some of the textile company stocks have been rising in the last five trading sessions in anticipation of the PLI scheme and hence did not react today. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Textiles companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KPR Mills </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.52% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Welspun India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.57% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vardhman Textiles </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.98% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indo Count Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">13.42% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-life-icici-prudential-life-among-analysts-top-picks/articleshow/86035243.cms">More consolidation may happen in insurance sector going ahead; SBI Life, ICICI Prudential Life among analysts top picks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-market-experts-like-raamdeo-agrawal-of-motilal-oswal-group-and-biju-samuel-of-elara-capital-say-that-the-benchmark-index-will-continue-to-rise/slidelist/86030450.cms">Some of India’s biggest investors are nervous but not everyone wants to leave the party</a>

Alok Industries, Arvind, Deepak Spinners, Trident gain on PLI for textiles sector, analysts expect the rally to continue

Cybercriminals are trying to lure Indian users into revealing important personal information with a new report on Monday warning that suspicious messages asking users to submit an application for the disbursement of income tax refund have been doing the rounds, with a link that directs users to a webpage looking like the income tax e-filing web page. The targeted banks in the campaign include the <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>, ICICI, HDFC, <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> and <keyword id="62034" type="CITY" weightage="20" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword>, revealed an investigation by New Delhi-based think tank CyberPeace Foundation along with cybersecurity services firmAutobot Infosec. The suspicious links originate from the US and France, said the report, adding that the campaign is collecting personal as well as banking information from the user and getting into this type of trap could cause a massive financial loss for the users. The shared link with the SMS has no domain name and is not linked with the Indian government. All IP addresses associated with the campaign belong to some third party dedicated cloud hosting providers, said the report. The whole campaign uses plain http protocol instead of the secure https. This means anyone on the network or internet can intercept the traffic and get the confidential information in plain text to misuse against the victim. It asks users to download an application from a third party source instead of Google Playstore. The application asks to provide administrator rights and unnecessary access permissions of the device. On opening the link http://204.44.124[.]160/ITR, users are redirected to a landing page that is mostly similar to the government income tax e-filing website. On clicking the green 'Proceed to the verification steps' button, users are asked to submit personal information such as full name, PAN, Aadhar number, address, pincode, date of birth, mobile number, email address, gender, marital status and banking information like account number, IFSC code, card number, expiry date, CVV/CVC and card PIN. Additionally, the bank name is automatically detected from the IFSC code entered in the form. After submission of data, users are redirected to a page where they are asked to confirm the entered data. Clicking on the green 'confirm' button directs users to a fake banking login page almost similar to the official one. It asks for the username and password for online banking. After these details are entered, for the next step, users are asked to enter a Hint question, Answer, Profile password and CIF number. Once submitted, a mobile verification section with instructions provided to download an android application (.apk file) appears, to complete the ITR verification. Here, users are deliberately instructed to grant all device permissions to the particular application, the investigation revealed. The application, called Certificate.apk, starts downloading upon clicking the green 'Download' link. The overall layout and functionalities of the web page used in the campaign are similar to the official e-filing site to lure laymen, said the report. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/bank-employees-in-india-on-strike-today-and-tomorrow-but-mobile-and-net-banking-services-are-working/articleshow/81505273.cms">Bank employees on strike today and tomorrow — ATMs, net and mobile banking likely to be the only relief</a> <a href="https://www.businessinsider.in/tech/news/indias-personal-data-protection-law-versus-europes-gdpr/articleshow/81504058.cms">Being GDPR compliant doesn't necessarily make companies ready for India's upcoming data protection laws</a> <a href="https://www.businessinsider.in/business/startups/news/stripe-the-most-valued-startup-in-the-us-to-offer-payment-services-to-indias-merchants-after-its-latest-fundraise/articleshow/81504106.cms">Stripe, the most valued startup in the US, to offer payment services to India’s merchants after its latest fundraise</a>

SBI, ICICI, HDFC, Axis Bank, PNB and the Indian IT department targeted in phishing scam

<ul><li><keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> tops the Brand Finance India 100 Index in 2019 with brand value increasingly by 37% from last year. </li><li>India's biggest banks — State Bank of India (SBI) and HDFC Bank — also made the cut to feature in the top 10. </li><li>Anil Dhirubhai Ambani Group (ADAG) showed the biggest drop, falling 28 positions in the rankings with its brand value falling nearly 65%. </li></ul>The <a href="https://www.businessinsider.in/the-tata-group-has-two-airlines-and-two-more-to-choose-fromair-india-and-jet-airways/articleshow/70129384.cms">Tata Group</a> is India's most valuable brand according to Brand Finance India's top 100 list that's curated from a total of 5,000 companies. The group is one of India's largest with operations all over the world in over 100 countries. Government of India's <a href="https://www.businessinsider.in/lic-officials-under-investigation-by-sfio-for-role-in-ilfs-crisis/articleshow/69263029.cms">Life Insurance Corporation of India (LIC)</a> isn't even a close second with a brand value of $7.22 billion versus Tata's $19.559 billion. Even if you combine LIC's value with <a href="https://www.businessinsider.in/infosys-new-blockchain-banking-solution-doubles-its-partners-in-a-month/articleshow/64511303.cms">Infosys</a>, which came in third at $6.5 million — it's still less than that of the Tata Group. "Tata Group is to be commended for its ability to scale new heights, as it is not only India's most valuable brand, but has also recorded faster growth than any other top 25 brands, with an impressive 37% increase," states David Haigh, CEO of Brand Finance. <div type="image" title="unnamed" msid="70247447" hostid="261" caption="&amp;lt;p&amp;gt;Top 10 most valuable Indian brands 2019&amp;lt;/p&amp;gt;"></div>

 The newbies <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-speeds-up-its-broadband-plan/articleshow/70139677.cms">Mukesh Ambani</a>'s <a href="https://www.businessinsider.in/mukesh-ambani-s-reliance-retail-will-build-an-app-for-kirana-merchants/articleshow/70222354.cms">Reliance Jio</a> which is the fastest growing telecom company, has not made it into the top 10. But according to the Brand Strength Index (BSI) it's currently India's strongest brand. According to the report's methodology, the brand value is only one part of the story, which is how much the company would be worth in the open market. But, the other facet, is a brand's strength which is based on qualitative rather than quantitative measures to peg companies against their competition. The report explains that while Jio may not be the most valuable, it has a strong foundation in place with its <a href="https://www.businessinsider.in/two-years-on-reliance-jio-continues-to-dominate-indian-telecom-market-beating-global-giants/articleshow/67380627.cms">marketing investment</a>s, familiarity, <a href="https://www.businessinsider.in/heres-how-reliance-jio-is-planning-to-increase-its-user-base-and-it-will-definitely-work/articleshow/53298530.cms">loyalty</a>, staff satisfaction and, more importantly, corporate reputation. This is Jio's first time on Brand Finance's top 100 and its accompanied by five other brands debutantes — <a href="https://www.businessinsider.in/baba-ramdev-looks-to-conquer-the-fashion-world-with-patanjali-clothing/articleshow/63643970.cms">Patanjali</a>, Chennai Petroleum, Indian Overseas Bank, <a href="https://www.businessinsider.in/csd-the-most-profitable-retail-chain-in-india/articleshow/53738799.cms">DMart</a>, and Max Life Insurance. Banking boom This year's top 100 featured a total of 14 Indian banks. India's three largest banks — <a href="https://www.businessinsider.in/sbi-overstated-profits-for-3-years-reveals-rti/articleshow/70145021.cms">the State Bank of India</a> (SBI),<a href="https://www.businessinsider.in/hdfc-hiring-5000-professionals-with-annual-package-of-400000-includes-training-program/articleshow/70083666.cms"> HDFC Bank</a>, and <a href="https://www.businessinsider.in/how-icici-became-indias-biggest-bank-here-are-some-interesting-facts-about-the-bank/articleshow/53653276.cms">ICICI Bank</a> — led brand values in the sector with SBI coming in fourth and HDFC in sixth position. The upskilling at banks to integrate digital services like mobile banking and internet banking has helped banks keep pace with the competition. Heightened brand values are expected in the future as well as more is invested into bringing in new infrastructure, technology and innovative customer tools. Winners and losers The Mahindra Group featured in the top 5 for the very first time with its brand value appreciating by 35% to $5.2 billion. It has been working its way through the Indian market but also building in roads in more mature markets like the US, with its IT and financial services businesses. The Anil Dhirubhai Ambani Group (ADAG), on the other hand, fell by 28 ranks, losing 65% of its brand value. The steep drop in its value is attributed to a<a href="https://www.businessinsider.in/anil-ambani-adag-stocks-this-week-reliance-power-reliance-infrastructure-and-reliance-communications/articleshow/69773095.cms"> continuous erosion</a> in its shareholder value. Even with an illustrious last name, the group doesn't invoke the trust it once used to. See also: <a href="https://www.businessinsider.in/tcs-wipro-and-hcl-are-among-the-worlds-most-valued-it-brands/articleshow/67670849.cms">TCS is now the world’s third most valued IT service brand</a> <a href="https://www.businessinsider.in/these-are-the-top-10-most-valuable-brands-in-the-world/articleshow/69747256.cms">These are the top 10 most valuable brands in the world</a>

You Searched For "ICICI Foundation" and got 13 results

CSR input of Indian companies with foreign shareholders to get distressed

BI India Bureau

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Here’s how a free skill training course uplifted a daily-wage worker out of poverty

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ICICI Bank to transform 100 villages into ‘Digital Villages’ in 100 days

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KKR to acquire controlling stake in JB Chemicals & Pharmaceuticals

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Nazara Technologies sees a blockbuster listing – shares list at 81% premium

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Ivanka Trump bats for greater participation of women in workforce amidst dealing with allegation of bad labour practices with her own brand

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Gaurs group to invest Rs 10K cr in next 5yrs on various realty, hotel, hospital projects in NCR

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IDFC First Bank to raise Rs 2,000 cr capital from promoter, Warburg Pincus, 3 others

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Alok Industries, Arvind, Deepak Spinners, Trident gain on PLI for textiles sector, analysts expect the rally to continue

Bhakti Makwana

SBI, ICICI, HDFC, Axis Bank, PNB and the Indian IT department targeted in phishing scam

IANS

The Tata name is worth $19.5 billion — more than the brand value of LIC and Infosys put together

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