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<ul><li>According to <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, the <keyword id="19945816" type="General" weightage="20" keywordseo="fintech" source="keywords">Fintech</keyword> <keyword id="881153" type="General" weightage="20" keywordseo="self-regulatory-organisation" source="Orion">self regulatory organisation</keyword> (SRO-FT) would derive its strength from its membership, ensuring that it is truly representative of the <keyword id="6133582" type="General" weightage="20" keywordseo="fintech-sector" source="Orion">fintech sector</keyword>. </li><li>The <keyword id="19901291" type="General" weightage="20" keywordseo="sro" source="keywords">SRO</keyword> model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. </li><li>The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. </li></ul>The Reserve Bank(RBI) of India has released a preliminary framework outlining general functions, governance standards, and eligibility requirements for the establishment of a self-regulatory organisation for FinTech firms (SRO-FT). The recognition of SRO-FTs would be determined by the quantity and characteristics of the applications received. According to the RBI, “The SRO-FT would derive its strength from its membership, ensuring that it is truly representative of the fintech sector. Through comprehensive membership agreements that encompass a broad spectrum of industry players, the SRO-FT should gain the legitimacy and credibility to not only frame baseline standards and rules of conduct codes, but also to effectively monitor and enforce them.” Keeping up with technological progress “The RBI's move to establish an SRO framework is a game-changer in financial regulations, especially for digital lending and AI-driven innovation. This is a strong shift towards a collaborative, adaptive ecosystem. By integrating industry insights into regulation, we're ensuring that rules are practical and keep up with technological progress, fostering innovation and growth,” says <keyword id="20212226" type="General" weightage="20" keywordseo="adhil-shetty" source="keywords">Adhil Shetty</keyword>, CEO, BankBazaar, a financial marketplace. He adds that the SRO model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. This is not just about ensuring compliance; it's about creating a culture of integrity and ethical practices that are ingrained in the industry's DNA. The RBI's commitment to this collaborative approach is thus a significant step in developing a resilient financial ecosystem. Healthy and sustainable growth of the fintech sector “The creation of an SRO is seen as crucial in combating the influence of unscrupulous lenders, promoting ethical conduct, strengthening lending infrastructure, and formulating adaptable regulatory strategies,” says <keyword id="20212225" type="General" weightage="20" keywordseo="madhusudan-ekambaram" source="keywords">Madhusudan Ekambaram</keyword>, Co-founder and CEO, KreditBee, a personal loan app. The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. Its primary goal is to contribute to the healthy and sustainable growth of the fintech sector, while also charting a smooth path to phased regulatory compliance when necessary. “This collaborative and participatory approach aligns with the RBI's overarching objective of fostering a resilient and sustainable financial ecosystem, emphasising ethical behaviour and transparency,” says Ekambaram. The SRO-FT is thus expected to play a pivotal role in shaping the course of digital lending in India by ensuring the adoption of responsible practices and maintaining integrity within the industry.

Fintech SRO aims to enhance credibility of sector, promote ethical conduct

Scientists believe bats first transmitted Covid virus to humans in December 2019, and while the virus has since evolved into several variants such as delta and omicron, a new study reveals the virus is still highly transmissible between mammals. Researchers including an Indian-origin scientist at <keyword id="605852" type="General" weightage="50" keywordseo="rochester-institute-of-technology" source="Orion">Rochester Institute of Technology</keyword> (<keyword id="1627927" type="General" weightage="80" keywordseo="rit" source="Orion">RIT</keyword>) in New York in the US, developed computer simulations that show the coronaviruses use their spike proteins to attach themselves to the host cells in both bats and humans in much the same way. "We were hoping to see really cool adaptive evolution happening as the virus got more used to humans and less used to bats, but we actually saw that there wasn't a whole lot of change," said <keyword id="15687074" type="General" weightage="80" keywordseo="gregory-babbitt" source="Orion">Gregory Babbitt</keyword> from the Thomas H. Gosnell School of Life Sciences. "If you look at the phylogenetic relationships of bats to humans, we're pretty far apart on the mammalian tree. So it suggests that there would be pretty widespread cross-species infectivity, and the literature has shown there's been a lot of evidence of that," he said in a paper, including recent RIT alumnus <keyword id="15687073" type="General" weightage="80" keywordseo="madhusudan-rajendran" source="Orion">Madhusudan Rajendran</keyword>, published in the journal <keyword id="2871608" type="General" weightage="50" keywordseo="royal-society-open-science" source="Orion">Royal Society Open Science</keyword>. They studied how the viral spike proteins in several SARS-CoV-2 variants interact with the host cell receptors known as ACE2 in both humans and various bats of genus Rhinolophus. The results were surprising for the team. Computer simulations showed there is a still significant risk of mammalian cross-species infectivity. "It would be dangerous to do experiments where we reinfected bats with human viral strains, so our computer-based simulations offered a much safer alternative," said <keyword id="5446752" type="General" weightage="80" keywordseo="babbitt" source="Orion">Babbitt</keyword>. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rupee-at-80-against-the-usd-a-possibility-say-analysts-as-us-fed-hints-at-slower-rate-hikes/articleshow/95940818.cms">Rupee may hit 80/$ aided by trifecta of softer rates, cooling crude and stronger macros, say analysts</a> <a href="https://www.businessinsider.in/business/corporates/news/globalbees-to-cred-and-two-adani-group-companies-companies-which-command-high-valuations-with-low-revenues/articleshow/95929044.cms">The curious case of companies which command high valuations with low revenues</a> <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-announces-price-hike-from-january-2023/articleshow/95941950.cms">Maruti Suzuki cars will get costlier from January 2023</a>

Deadly Covid variants still transmissible between species, finds study

The Income Tax department on Wednesday conducted search operations at around 40 premises belonging to <keyword id="14506298" type="General" weightage="100" keywordseo="madhusudan-ghee" source="Orion">Madhusudan Ghee</keyword> in <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> and other places in <keyword id="13126" type="General" weightage="50" keywordseo="maharashtra" source="Orion">Maharashtra</keyword> in connection with alleged tax evasion, sources said. According to information, the firm recently invested in the power and dairy industries in <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>. The income tax department hasn't given any official quote in this respect. Sources said that the I-T officials were scanning the last three-year transactions of the firm. They were also recording the testimonies of the employees of the firm. In coming months, the I-T department may summon the <keyword id="22871" type="General" weightage="50" keywordseo="chartered-accountants" source="Orion">Chartered Accountants</keyword> of the firm, if their statements are required in the case, sources said. The sources said that a few documents and incriminating materials were also seized. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/singapore-to-to-act-tough-on-crypto-platforms-in-the-coming-months/articleshow/92994010.cms">Singapore to act tough on crypto platforms in the coming months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/food-items-when-sold-loose-wont-attract-any-gst-says-nirmala-sitharaman/articleshow/92993947.cms">Food items when sold loose won't attract any GST, says Nirmala Sitharaman</a>

I-T officials raid 40 locations linked to Madhusudan Ghee in Mumbai

Bengaluru, Bengaluru-headquartered <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">FinTech</keyword> lending startup <keyword id="6557529" type="UNKNOWN" weightage="20" keywordseo="KreditBee">KreditBee</keyword> on Monday said it has concluded its Series C equity round worth $75 million (about ₹545 crore) from <keyword id="648852" type="LOCATION" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword>, Mirae Asset Naver Asia Growth Fund, Alpine Capital and <keyword id="9361494" type="COMPANY" weightage="20" keywordseo="Arkam-Ventures">Arkam Ventures</keyword> consisting of both primary and secondary investment. With the current round of fund raise, the company wants to drive credit uptake in the economy especially for the unserved and underserved segment of the population. "With a larger portfolio of loan products, our objective is to provide credit to over 180 million New-to-Credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that," <keyword id="229206" type="DOMAIN" weightage="20" keywordseo="Madhusudan">Madhusudan</keyword> E, Co-Founder &amp; CEO of KreditBee, said in a statement. The holding entity previously raised over $43 million cumulatively in equity from marque investors including ICICI Bank and Arkam Ventures. Registered in March 2016, the group entity also holds Krazybee Services Private Limited -- a non-deposit taking non-banking financial company (NBFC-ND-SI). The group launched its flagship brand KreditBee in May 2018, focused on full-stack digital lending for young professionals. The platform specialises in providing digital personal loans and consumer durable loans to both salaried and self-employed. The loan amount disbursed can go as high as ₹2 lakh while the tenures range from two months to 15 months. The company said it currently has over 1,200 employees and a user base of over 20 million with over 4 million credit customers. The platform plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-ultra-5g-review-the-best-android-smartphone-yet/articleshow/80913148.cms">Samsung Galaxy S21 Ultra 5G review – the best Android smartphone, yet</a> <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/science/research/news/worlds-oldest-beer-factory-discovered-in-egypt-was-producing-50000-pints-at-a-time/articleshow/80920087.cms">Drink like an Egyptian: Historians discover the world’s oldest beer factory in Egypt</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a>

Lending startup KreditBee gets ₹545 crore from Premji invest, Mirae Asset and others

<ul><li>In the '<keyword id="1622347" type="PERSON" weightage="20" keywordseo="New-Normal">new normal</keyword>', events and conferences have taken the biggest hit, with many big-ticket events being cancelled or postponed. </li><li>However, the industry is now witnessing a huge change, with marketers and brand managers looking at alternate ways to host events and maintain visibility in the market.</li><li><keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword> BPM's <keyword id="946036" type="PERSON" weightage="20" keywordseo="Manoj-Nair">Manoj Nair</keyword>, Head of Marketing and <keyword id="9784833" type="PERSON" weightage="20" keywordseo="manoj-madhusudan">Manoj Madhusudan</keyword>, Senior Marketing Manager write about events of the future, ie <keyword id="9084093" type="UNKNOWN" weightage="20" keywordseo="virtual-events">virtual events</keyword>, and how virtual platforms are likely to inhabit a lion’s share in the mix of events in the future.</li></ul> Put on a nice shirt, wear a tie, a good-looking blazer, and comb the hair. “Heartiest welcome to our keynote speaker, ladies and gentlemen,” the event presenter declares. But this is not your usual event, complete with gra<a name="_GoBack"></a>ndeur and in-person networking. The COVID-19 pandemic has bundled the opulence of events to fit inside your laptop window. Is this the New Normal? We say, yes. In the last few months events and conferences have taken the biggest hit, with the world coming to a virtual standstill. Several big-ticket events were canceled or postponed, anticipating the situation to be a temporary one. But the pandemic is not receding anytime soon, that much has become clear. Once the bastion of marketing stalwarts to network and generate leads, the events space is now going through a crucial pivot. Event marketers and brand managers have had to look at alternate ways to host events and maintain visibility in the market. Virtual aspects are being adopted increasingly, as a result. Digitally simulated conferences, summits, and even the in-house meetings have become commonplace. The Reverse Movement Virtual events are not new to the industry, by any means. But the virtual type often took a back seat to <keyword id="1541152" type="PERSON" weightage="20" keywordseo="live-events">live events</keyword>. The pandemic, however, has reversed the flow. With the pandemic pushing up demand, the expected growth rate for virtual events have shot up to 23.2% between 2020 to 2027. The events industry, whichtill now has typically relied on live events for the appeal of in-person networking, is now building upon the existing virtual formats through technology such as holographic, virtual reality, livestreaming, and simulated conferences. Gradually, a distinction in the forms of virtual events has also emerged: -Standard virtual meetings – These can be anything from team meetings to townhalls on WebEx or Microsoft Teams. -Live streaming–This type of meeting demands higher production value, where multiple content pieces, including videos and graphics,can be stitched together in a single window. -<keyword id="142599" type="PERSON" weightage="20" keywordseo="virtual-conference">Virtual conference</keyword> – This type enhances experience with interactive tools. There are multiple virtual conference platforms available that have cashed into this new opportunity, including The Virtual Show, Adobe Connect, Accelevents, and On24. These platforms have transformed overnight from being a webinar platform, to simulating live conferences. This will allow the event industry to monetize virtual eventswith sponsorships and brand reach, like a live event. A few advantages of a virtual event are clear: -Reduced cost. Virtual events can be hosted at a fraction of the cost of a live, physical event, which is a win-win for both the organizers and the sponsors. -Virtual events can bring in its fold attendees, who are often constrained to travel. -Virtual events can pack in an audience like sardines in a tin, provided the platform can support. -Less coordination required in deciding the right location and month for hosting an event. -For companies that are ahead of the curve in digital storytelling, virtual events are a good way to showcase their prowess. Breaking Down the Fourth Wall The rise of virtual events has also brought the quality of experience in sharp focus. Surely, the impersonal set up of a live event cannot be looked over altogether. But providing an experience emulating live events is still a challenge with virtual events. However, technology is gradually catching up to this need, without piling up expenses or compromising on health concerns. Events today are being designed with as much precision as a live event, with dedicated sections as the lobby, an auditorium, and a set up that recreate the feel of entering a hotel lobby for a conference. Going forward, virtual platforms are likely to inhabit a lion’s share in the mix of events, long after the effects of the pandemic have receded, as restrictions on travel and gatherings are expected to continue for a while. When live events do make a comeback, it will merge with the virtual aspects to create a hybrid model, allowing companies and brands to enhance the reach to a wider audience, new ways of monetization, and attendee experience. For now, hope to see you virtually at the next conference.

Going places, by not going anywhere, with the virtual avatar of corporate events

<ul><li>The announcement is in line with P&amp;G’s global sustainability goals ‘Ambition 2030’ aimed at creating a positive impact on the environment and society.</li><li>P&amp;G India is hosting the second edition of ‘<keyword id="8384504" type="UNKNOWN" weightage="20" keywordseo="PG-vGROW">P&amp;G vGROW</keyword> External Business Partner Summit’ on November 28 – 29, 2019, providing a platform to suppliers to pitch their solutions to P&amp;G’s leadership team.</li><li>P&amp;G has already invested more than ₹200 crore through the ‘<keyword id="8384506" type="UNKNOWN" weightage="20" keywordseo="Innovation-Sourcing-fund">Innovation Sourcing fund</keyword>’ set-up last year via collaboration with organizations including start-ups and small businesses.</li></ul> In an attempt to create a positive impact on the environment, Procter &amp; Gamble (P&amp;G) India has set-up a ₹200 crore ‘<keyword id="8384505" type="UNKNOWN" weightage="20" keywordseo="environmental-sustainability-fund">Environmental Sustainability Fund</keyword>’. The brand will collaborate with external partners offering environmentally sustainable business solutions. With this announcement, P&amp;G has also launched the second edition of ‘P&amp;G vGROW External Business Partner Summit.’ vGROW is P&amp;G’s first-of-its-kind platform to identify and collaborate with businesses and individuals offering industry-leading solutions. The two-day summit offers a platform to potential partners like start-ups, small businesses, individuals and large organizations offering innovative industry-leading solutions to pitch to P&amp;G’s leadership team. This year, the summit is focused on identifying and implementing step-changing environmentally sustainable solutions like packaging innovations, renewable sources of energy and reducing <keyword id="6404408" type="UNKNOWN" weightage="20" keywordseo="Carbon-footprint">carbon footprint</keyword>. The ‘Environmental Sustainability Fund’ comes in addition to the ongoing ‘Innovation Sourcing Fund’ launched last year. <keyword id="6263563" type="UNKNOWN" weightage="20" keywordseo="Madhusudan-Gopalan">Madhusudan Gopalan</keyword>, MD &amp; CEO, P&amp;G Indian Subcontinent, said, “Environmental sustainability is a key pillar of our citizenship efforts, and embedded in our business strategy. We know that solving the biggest challenges requires collaboration that enables people, planet and businesses to thrive. We are delighted to set-up the ‘Environmental Sustainability Fund’ to collaborate with external partners in India, that are offering cutting-edge environmentally sustainable solutions in line with our strategy.” Madhusudan further added, “India is a priority market for the company and continues to be at the forefront of innovation. Last year we announced the ‘Innovation Sourcing Fund’ through which we have already invested more than ₹200 crore on implementing innovative solutions in collaboration with external partners from across India. Building on this, we are confident that this year, through ‘vGROW’ we will be able to identify and implement transformational sustainable solutions from partners across India that will lead to a positive impact on the environment while creating value for the company, partners and consumers.” Last year, P&amp;G set-up the ‘Innovation Sourcing fund’ to collaborate with external partners offering cutting-edge innovative solutions. Over the last year, P&amp;G received 1000+ applications from start-ups, small businesses, university incubation centers and large organizations. The company has already invested more than ₹200 crore in collaborating with organizations offering innovative solutions like agile supply chain solutions, raw material innovations, superior brand and marketing solutions for consumers, innovation on packaging, productivity ideas etc. P&amp;G will continue to invest in innovative solutions via this fund in line with the business strategy.

P&G India sets up a ₹200 crore ‘Environmental Sustainability Fund’, will collaborate with external partners on environmentally sustainable solutions

Fintech platform <keyword id="6557529" type="General" weightage="100" keywordseo="kreditbee" source="Orion">KreditBee</keyword> on Friday said it has closed $200 million in its Series D round by raising an additional $100 million in primary funding from <keyword id="312345" type="General" weightage="80" keywordseo="advent-international" source="Orion">Advent International</keyword>, Mitsubishi UFJ Financial Group (<keyword id="380218" type="General" weightage="80" keywordseo="mufg" source="Orion">MUFG</keyword>) and existing investors. Last month, the company raised tranche 1 of Series D from MUFG, Japan's largest bank, along with existing investors Premji Invest, <keyword id="15088227" type="General" weightage="50" keywordseo="motilal-oswal-alternates" source="Orion">Motilal Oswal Alternates</keyword>, NewQuest Capital Partners, and Mirae Asset Venture Investments. KreditBee said the additional capital raised will be deployed towards scaling the existing business and diversifying its product offering by venturing into digitally enabled financial products. "This reinforces the confidence in our profitable business model and its long-term sustainability of it. The latest round will help us to achieve our vision of serving over 400 million middle-income population in the country," said Madhusudan Ekambaram, Co-Founder and CEO, KreditBee. The platform aims to cross-asset under management (AUM) of more than $1 billion over the next 6-9 months. "We believe KreditBee's proprietary underwriting tech stack is one of the best in the industry and helps in its ability to identify and underwrite future prime customers at an early stage," said <keyword id="1581364" type="General" weightage="50" keywordseo="shweta-jalan" source="Orion">Shweta Jalan</keyword>, Managing Partner at Advent International. KreditBee currently has 7 million loan customers, out of which over 3 million are active loan customers. "KreditBee has witnessed several credit cycles and has come out stronger each time reflecting the adaptability and resilience of its business model," said Ashish Dave, CEO of Mirae Asset Venture Investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/an-aai-and-two-college-dropouts-home-snacks-biz-sends-shark-tank-judges-into-a-bidding-war/articleshow/96784920.cms">An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-makes-open-offer-to-acquire-26-stake-in-lotus-chocolate/articleshow/96791043.cms">Reliance makes open offer to acquire 26% stake in Lotus Chocolate</a>

KreditBee closes $200 million Series D from Advent International, MUFG Bank, others

Around two lakh students from the Scheduled Caste category dropped out of college due to non-payment of dues under a scholarship scheme worth around Rs 2,000 crore by the <keyword id="6354953" type="General" weightage="100" keywordseo="punjab" source="Orion">Punjab</keyword> government, the <keyword id="516560" type="General" weightage="50" keywordseo="national-commission-for-scheduled-caste" source="Orion">National Commission for Scheduled Caste</keyword> said on Wednesday. Punjab Chief Minister Bhagwant <keyword id="19116" type="General" weightage="80" keywordseo="mann" source="Orion">Mann</keyword> last week ordered a comprehensive probe into alleged irregularities in the post-matric scholarship scheme that had surfaced during the previous <keyword id="1575" type="General" weightage="50" keywordseo="congress" source="Orion">Congress</keyword> regime in the state. NCSC chairperson Vijay <keyword id="6391235" type="General" weightage="80" keywordseo="sampla" source="Orion">Sampla</keyword> told reporters that the Commission has sought an explanation from the state government on why the money has not been paid to colleges despite the payment of dues by the Centre. "We have taken suo motu cognisance in the matter. There have been many complaints from <keyword id="104433" type="General" weightage="20" keywordseo="SC-students" source="Orion">SC students</keyword> that they are not being allowed in colleges as the government has not paid their fees. "There were around three lakh SC students who benefited from the scheme in 2017 and the number dropped to 1-1.25 lakh in 2020. When we asked the state government, they said these children dropped out," he said. Sampla said that a meeting was held on Monday between <keyword id="112438" type="General" weightage="50" keywordseo="social-justice" source="Orion">Social Justice</keyword> and Empowerment ministry and Punjab government to discuss the matter. "In the meeting, it came to light that no dues from the Centre are there while the state government has to pay dues worth Rs 2000 crore to pay to these colleges. Where has the money gone that is due," he said. Sampla said that the Punjab government has been asked to give an explanation by next Wednesday. Mann had taken to Twitter to announce the decision for a probe into the matter. I have received files pertaining to the release of scholarship amount during the previous government. Irregularities have been found in releasing funds to private institutions orders have been issued for a probe, the chief minister tweeted while promising to act against those who put the future of Scheduled Caste students at stake. Account of every single penny will be taken, said Mann. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/how-to-transfer-money-from-paytm-wallet-to-a-bank-account-for-free/articleshow/93001217.cms">Looking to transfer money from Paytm wallet to a bank account? Here’s how to do it in five easy steps</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/i-t-officials-raid-40-locations-linked-to-madhusudan-ghee-in-mumbai/articleshow/93002254.cms">I-T officials raid 40 locations linked to Madhusudan Ghee in Mumbai</a>

2 lakh college students in Punjab drop out due to non-payment of scholarships, says constitutional body

<ul><li><keyword id="1464803" type="COMPANY" weightage="20" keywordseo="Procter-Gamble-Hygiene">Procter &amp; Gamble Hygiene</keyword> and Health Care Ltd. announces <keyword id="540828" type="PERSON" weightage="20" keywordseo="third-quarter-results">third quarter results</keyword>.</li><li>Hygiene and health care giant’s sales up 16% and PAT up 8% for the quarter ended March 31, 2021.</li></ul><keyword id="6361491" type="UNKNOWN" weightage="20" keywordseo="Procter-Gamble">Procter &amp; Gamble</keyword> Hygiene and Health Care Ltd announced today its financial results for the quarter ended March 31, 2021. The company delivered sales of ₹760 crores, up 16% from last year. Profit After Tax (PAT) for the quarter was ₹98 crores, up 8% vs year ago. Both the feminine care and health care business delivered strong double-digit sales growth in the quarter. Madhusudan Gopalan, Managing Director, Procter &amp; Gamble Hygiene and Health Care Ltd. said, “As the country faces the second wave of the pandemic, we continue to focus on protecting the health and safety of our people, serving the Indian consumers with our health and hygiene products, and supporting communities in need through our relief efforts. In a challenging environment, we delivered double-digit profitable growth for the third consecutive quarter this year. Our strategy of driving superiority, improving productivity, leading constructive disruption, and strengthening our organization and culture has enabled us to consistently deliver results and continue to be the right strategies to deliver balanced growth in the long-term.” He further added, “Since the outbreak of the pandemic, we have implemented robust health and hygiene standards across our sites and our qualified team of medical experts are working round the clock to support our people and their families on health related queries. We are continuing to extend our support to the communities under our #PGSurakshaIndia program. As P&amp;G group, we recently announced our pledge to donate INR 50 Cr towards 10 lakh vaccine doses for 5 lakh citizens in partnership with state governments and local authorities.” Since the outbreak of the pandemic, P&amp;G launched the #PGSurakshaIndia program and has been partnering with the government and relief organizations to serve frontline workers and the communities. The company will continue to extend its support to the broader community through donation of in-house manufactured masks and sanitizers specially to aid frontline and essential workers who are tirelessly working to combat the spread of COVID-19. The company will also continue to leverage its advertising and brand voice responsibly to increase awareness on health, safety and hygiene measures among consumers and the community. The Board of Directors declared a special interim dividend of ₹150 on every equity share of ₹10. The record date for the dividend will be May 12, 2021. The company has delivered balanced growth in recent years behind its focus on driving superiority, improving productivity, and strengthening the organization culture. This year also marks two decades of Whisper Ultra’s launch in India. The dividend demonstrates the company’s intent to reward shareholders for strong results in a challenging market environment.

P&G spent Rs 12,958 crore on advertising and sales promotion during Jan-March 2021

New Delhi, Apr 15 () FMCG major Procter &amp; Gamble (P&amp;G) on Wednesday said it will donate face masks and hand sanitisers to the government and relief organisations to support the fight against the coronavirus pandemic in India. The company is planning to donate 1.5 million masks to the government and relief organisations, it said in a statement. P&amp;G has already started production of hand sanitisers at its Roorkee facility and will soon start manufacturing 3-ply face masks in Hyderabad, the firm said in the statement. The company added that these initiatives are part of its response programme 'P&amp;G Suraksha India'. P&amp;G Indian Subcontinent MD &amp; CEO Madhusudan Gopalan said, "Under the programme, we are stepping up to support the government and those who are on the front line in India's fight against COVID-19." Gopalan said that the company has started production of hand sanitisers and will begin the production of masks soon, using it to ensure people can continue operating safely and will share it with those who are on the front line. "To start with, we will donate 1.5 million masks to the government and relief organisations to combat the spread of this pandemic," he added. Under P&amp;G Suraksha India, the company is extending its support to the broader community through in-kind, product and critical supplies to aid frontline and essential workers who are working to combat the spread of coronavirus. It is also leveraging its advertising and brand voice on traditional and social media to increase awareness on safety and hygiene measures among consumers. KRH HRS

P&G to distribute face masks, hand sanitisers for supporting fight against COVID-19

New Delhi, Feb 12 () FMCG firm Procter &amp; Gamble Hygiene and Health Care Ltd on Wednesday reported a 9.51 per cent rise in net profit to Rs 135.93 crore for the second quarter ended December 2019, helped by continued focus on productivity and savings. The company, which follows the July-June financial year, had posted a profit of Rs 124.12 crore in the year-ago period, Procter &amp; Gamble Hygiene and Health Care said in a regulatory filing. Its revenue from operations during the quarter stood at Rs 859.27 crore, up 5.03 per cent as compared with Rs 818.07 crore in the corresponding quarter of the previous financial year. Procter &amp; Gamble Hygiene and Health Care MD Madhusudan Gopalan said, "In a challenging macroeconomic environment, our focus on raising the bar on superiority, improving productivity, and strengthening the organisation culture has enabled us to deliver sustained growth during the second quarter." Its total expenses during the October-December quarter was at Rs 686.29 crore as against Rs 639.66 crore, a rise of 7.28 per cent. On the outlook, he said, "We will continue to remain focused on these strategies in line with our aim to drive balanced sales and profit growth." Shares of Procter &amp; Gamble Hygiene and Health Care Ltd on Wednesday fell 1.04 per cent to Rs 11,336.10 on the BSE. KRH HRS

Procter & Gamble Hygiene and Health Care Q2 net profit rises 9.5 pc to Rs 135 cr

New Delhi, Feb 13 () FMCG firm Gillette India on Thursday reported 31.63 per cent rise in profit after tax (PAT) at Rs 71.07 crore for the quarter ended December 31, 2019.The company, which follows July-June financial year, reported a PAT of Rs 53.99 crore for October-December 2018, Gillette India said in a BSE filing.However, its net sales was down 3.43 per cent to Rs 459.31 crore during the quarter under review as against Rs 475.66 crore in the year-ago period.According to the company, this was "due to market slowdown and trade inventory correction".Its revenue from grooming segment was Rs 344.81 crore as against Rs 373.22 crore in the corresponding quarter a year ago, while revenue from oral care was at Rs 114.50 crore as against Rs 102.44 crore. " In a challenging macro-economic environment, we delivered a resilient quarter by raising the bar on superiority, improving productivity, and strengthening the organization culture. Despite market challenges, the business grew ahead of the market as Gillette achieved its highest-ever share and strong offtake growth," Gillette India Managing Director Madhusudan Gopalan said.Total expenses of the company stood at Rs 373.76 crore as against Rs 391.03 crore earlier, down 4.41 per cent.On the outlook, he said:"We will continue to focus on adding new users and invest on innovation across our portfolio."Shares of Gillette India were trading at Rs 6,326.60 apiece, down 1.23 per cent, on the BSE. KRH KRH ANUANU

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