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DBS Foundation announces inaugural ‘Impact Beyond Award’ for purpose-driven solutions that tackle challenges related to ageing populations

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India, 27 September 2024

  • Grants of up to SGD 1 million each will be awarded to three transformative businesses in the tenth year of DBS Foundation.
  • The focus on ageing aligns with DBS Foundation’s dual emphasis on providing essential needs and fostering inclusion for vulnerable communities.

Marking a decade of creating impact, the DBS Foundation unveiled the new Impact Beyond Award with an aim to support enterprises that provide innovative solutions to the world’s most ‘wicked’ problems. Each year the Award intends to pose a challenge statement and invite businesses to pitch their transformative ideas. This year the focus will be on ageing and the Foundation will be seeking solutions that will enable everyone to grow old with dignity and purpose.

According to the 2023 India Ageing Report by United Nations Population Fund (UNFPA), the percentage of the elderly demographic (60 years and above) in India is projected to double to over 20% of the total country’s population by 2050. While an ageing population can be viewed as a societal challenge, the DBS Foundation believes it can also be an opportunity to be harnessed – both to change traditional mindsets, as well as to scale ‘longevity businesses’.

The Award is part of DBS’ SGD 1 billion commitment over ten years to uplift vulnerable segments of society, and complements the longstanding DBS Foundation Grant. 

Each of the three Impact Beyond awardees will receive prize money of up to SGD 1 million beyond financial support, the winning enterprises will be mentored by the bank’s senior management and other business leaders, and gain access to potential investors. It is open to social enterprises and small-and-medium enterprises (SMEs) that have at least SGD 5 million in annual revenue in the most recent financial year. Applications from around the world are welcomed, and the application window is open from 20 September to 30 November 2024.

Azmat Habibulla, Managing Director and Head of Group Strategic Marketing & Communications, DBS Bank India, said: “The introduction of the Impact Beyond Award marks a significant milestone in DBS Foundation’s ten year journey. This year’s spotlight on tackling the issues linked with an ageing society are a demonstration of the Foundation’s commitment to empowering the most vulnerable segments of the population. The complexities of an ageing demographic in India will only keep increasing and we believe that this award will be a catalyst to scale purpose-driven solutions in healthcare, social support systems and financial inclusion to improve the quality of life of senior citizens. With DBS’s holistic approach that goes beyond banking, we are looking forward to championing these businesses and fostering long-term inclusivity through innovative solutions.” 

DBS Bank, which is approaching its 30th year in India, recently launched a priority banking program for senior citizens called ‘DBS Golden Circle’, which has been designed to offer a comprehensive suite of benefits and services, focused on making banking simpler and more rewarding for resident Indian citizens aged 60 years and above. In 2020, the DBS Foundation awarded a grant to ElderAid Wellness, a Business For Impact that provides a range of home-based health and wellness services to support the elderly and enables them to live their golden years with independence, dignity and security. 

For more information on the DBS Foundation, please visit: www.dbs.com/dbsfoundation

 

About DBS

 

DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world. In 2024, CRISIL Ratings reaffirmed its ‘CRISIL AAA/Stable’ rating on the corporate credit facility of DBS Bank India Ltd (DBIL). The rating on the certificate of deposits programme was also reaffirmed at ‘CRISIL A1+’.

 

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. As a different kind of bank, DBS is at the forefront of leveraging digital technology to shape the future of banking, having been named World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Bankingby The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 15 consecutive years from 2009 to 2023. In line with its focus on responsible banking, DBS was named the Best Bank for Sustainable Finance – India by Global Finance in 2024. Additionally, DBS Bank was ranked among the top 3 on Forbes’ list of the World’s Best Banks in India for three consecutive years, from 2020 to 2022.

 

DBS Bank has been present in India for 30 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly owned, locally incorporated subsidiary of a leading global bank. As a trusted partner, DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India, focusing on a seamless customer experience that helps them ‘Live more, Bank less’. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. DBS Bank India now has a network of ~500 branches in 19 Indian states.

 

DBS is committed to building lasting relationships with customers as it banks the Asian way and understands the intricacies of doing business in the region’s most dynamic markets. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.

 

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

 

Media Contacts:

 

DBS Bank India

Rohini Rego

rohinirego@dbs.com

99305 49207

Adfactors PR

Chennakeshav Shenoy

Ck.shenoy@adfactorspr.com

9819266998

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Day 3 of ‘Kaveri Meets Ganga’: A spellbinding evening of cultural heritage and artistic brilliance

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New Delhi, 5th November 2024 – The Ministry of Culture’s Amrit Parampara series continued its captivating journey on the third day of the ‘Kaveri Meets Ganga’ festival. Held at Kartavya Path and CCRT Dwarka in Delhi,the event offered a powerful celebration of India’s cultural diversity, highlighting traditional and folk arts in the spirit of Ek Bharat Shreshtha Bharat. Sh. Gajendra Singh Shekhawat, Minister of Culture and Tourism, graced the event with his presence at Kartavya Path. At CCRT, Sh. Suresh Gopi, Minister of State for Tourism & Petroleum and Natural Gas, honored the gathering with his esteemed presence. Audiences were treated to mesmerizing performances that brought alive the essence of unity in diversity.

This festival series, jointly organized by the Ministry’s autonomous institutions—Sangeet NatakAkademi, Kalakshetra, and CCRT—brings together the best of South Indian music and dance to North India, while also celebrating artistic traditions from the North. The ‘Kaveri Meets Ganga’ program, held from 2nd to 5th November 2024, draws inspiration from Chennai’s reveredMargazhiFestival,reflecting the diversity of Indian culture through a tribute to its traditional and folk arts.

The Ministry of Culture is honored to present this series with a focus on reviving traditional art forms, particularly those that are fading. Through the innovative use of immersive technology and modern presentation, Amrit Parampara seeks to create memorable experiences that celebrate India’s artistic heritage and embody Sardar Patel’s vision of unity in diversity. The two-year commemoration of Sardar Patel’s 150th birth anniversary adds a layer of national pride to the celebrations, connecting his legacy with the festival’s message of unity.

The third day of the festival continued the celebration with a remarkable lineup of performances, each one a testament to the richness of India’s cultural traditions.

 

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At Kartavya Path, the evening began at 5:30 pm with a dynamic Panchavadyam performance, embodying the vibrant musical traditions of Kerala. This was followed by an entrancing Hindustani flute performance by Rakesh Chaurasia from Maharashtra at 6:00 pm, whose melodies evoked the deep cultural roots of the art form. The rhythm of the evening grew with a stirring violin recital by Kumaresh Rajagopalan from Karnataka at 7:00 pm, whose performance captivated the audience with its emotional depth and technical finesse. The evening concluded with an enchanting Kathak dance performance by Kathak Kendra and the traditional Dance Ensemble from Team Soch (Delhi) at 8:00 pm, which seamlessly blended grace and storytelling, leaving a lasting impression on all attendees.

Simultaneously, at CCRT Dwarka, the evening commenced at 6:00 pm with a soulful vocal performance by Sudha Raghuraman from Delhi, who brought the audience into a tranquil and reflective space with her mastery of Indian traditional music. This was followed at 7:00 pm by a spellbinding Hindustani vocal recital by JayateerthMevundifrom Karnataka, whose powerful voice resonated with the rich heritage of Hindustani classical music. The performances at CCRT culminated with a vibrant folk presentation by PerumanoorNerarivu from Kerala at 7:30 pm, infusing the atmosphere with the irresistible energy of Kerala’s folk traditions.

Amrit Parampara continues to provide audiences from Delhi with a unique opportunity to immerse themselves in India’s diverse cultural landscape. By bringing together artists from across the country, the festival creates an environment of unity and mutual appreciation for India’s traditional arts. As the ‘Kaveri Meets Ganga’ festival will continue on its fourth and final day tomorrow, promising yet another enchanting evening of India’s artistic traditions, the audience can look forward to another unforgettable journey. Stay tuned for more updates.

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Master filmmaker Subhash Ghai honours Ace Hollywood Producer Ashok Amritraj with IIFTC Global Indian Cinema Icon Award

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Mumbai, November 05, 2024—The 11th edition of the prestigious IIFTC Awards, Asia’s largest film tourism event, took place in Mumbai. Filmmakers and actors were honoured for their exceptional contributions to promoting global tourism through cinema. The awards continued the tradition of celebrating cinematic excellence that not only entertains audiences but also inspires them to explore new destinations and cultures. Harshad Bhagwat, Promoter of the IIFTC Awards, highlighted the importance of the event, saying “Cinema has the power to transcend borders, not only by telling stories but also by showcasing the beauty and culture of various destinations worldwide. Through their films, our awardees have turned the spotlight on these locations, creating a deep impact on global tourism. The 11th IIFTC Awards continue our mission to honour those who have significantly contributed to film tourism, making cinema a bridge between cultures and landscapes.”

Commenting on the occasion Subhash Ghai said “It is an honour to celebrate a visionary like Ashok Amritraj, whose contributions to global cinema have been instrumental in uniting audiences across cultures. Through his dedication and artistry, he has shown how powerful storytelling can transcend borders and inspire us all.” Upon receiving the award Ashok Amritraj mentioned “I am deeply grateful to receive this prestigious recognition from IIFTC and to stand among such extraordinary filmmakers who champion storytelling as a bridge between cultures. Cinema has an unparalleled ability to bring diverse destinations and experiences to audiences around the world, sparking curiosity and connection.”

These quotes highlight the collaborative spirit of cinema and tourism, honouring Ashok Amritraj’s global influence while celebrating the shared vision of IIFTC and its mission.

The International Indian Film Tourism Conclave (IIFTC) was held from October 23rd to 25th. It will bring together filmmakers and international tourism boards to foster collaboration between the two industries. Over 50 companies from more than 20 countries, including Azerbaijan, South Africa, the USA, Spain, and many more, participated, further solidifying the event’s standing as the leading platform for promoting film tourism.

This year’s awardees included prominent names from Indian cinema, recognised for their work in showcasing breathtaking destinations on the big screen:

1.            IIFTC Tourism Impact Award for Cinematic Excellence – Web Series to ‘The Freelancer’ by Friday Storytellers

2.            IIFTC Tourism Impact Award for Cinematic Excellence – Films

a.            Tu Jhoothi Main Makkaar (Hindi) Luv Films, T-Series

b.            Pathan (Hindi) by Yash Raj Films

c.             WaltairVeerayya (Telugu) by Mythri Movie Makers

d.            Baanadariyalli (Kannada) by Sri Vaare Talkies

e.            Made in Caravan (Malayalam) by Badusha Productions

f.             Spy (Telugu) by ED Entertainments

g.            Kranti (Kannada) by Media House Studio

h.            Chandramukhi 2 (Tamil) by Lyca Productions

i.              AaroEkPrithibi (Bengali) by Eskay Movies

j.             Ayisha (Malayalam) by Cross Border Cinema

k.            Victoria – EkRahasya (Marathi) by Anand Pandit Motion Pictures

3.            IIFTC Film Tourism Award for Outstanding Location – Azerbaijan

4.            IIFTC Tourism Impact Award for Cultural Integration to Leo (Tamil) by Seven Screen Studio

5.            IIFTC Special Awards

a.            Outstanding Contribution (Hindi): Shoojit Sircar

b.            Global Indian Cinematic Icon: Ashok Amritraj

The 11th IIFTC Awards once again celebrated the unique synergy between cinema and tourism, honouring filmmakers whose work has significantly influenced global travel through the art of storytelling.

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Fast-Tracking Digital Transformation in Incentive Management with Incentivate

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Introduction: The Urgency for Digital Transformation in Incentive Management

Digital transformation has become essential for organizations striving to stay competitive. From streamlining workflows to making data-driven decisions, digital transformation can help companies maximize productivity and meet ever-evolving market demands. In sales incentive management, this transformation is critical as businesses look for ways to improve efficiency, reduce errors, and maintain compliance. Incentivate is leading this shift, offering an automated solution designed to revolutionize the way organizations manage and process incentives.

Challenges in Traditional Incentive Management

Traditional incentive management processes are often manual, labor-intensive, and prone to human error. These methods require hours of data entry, calculations, and cross-checking, which can lead to inefficiencies and mistakes. In addition to being slow and cumbersome, manual incentive management can create several serious challenges for companies.

One of the major issues is compliance. Many organizations struggle with ensuring their incentive processes are transparent, traceable, and compliant with regulations. Manual processes increase the risk of non-compliance, which can have severe financial and reputational consequences. Errors in calculations or incomplete documentation can lead to audit risks, making the organization vulnerable to penalties and scrutiny from regulators.

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Compliance and Audit Risks

For companies in regulated industries like finance, compliance is critical. An error or oversight in incentive management can quickly become an audit risk. Regulators expect companies to maintain accurate records of all incentive calculations, allocations, and payments. Failure to meet these standards can expose companies to penalties, fines, and even legal action.

Recent cases have shown that regulators are taking compliance seriously. For instance, the Reserve Bank of India (RBI)  recently imposed fines and suspensions on companies that failed to accurately report their statutory compliances, citing issues with transparency and documentation. Internationally as well, financial firms are coming under serious scrutiny for bonus and sales compensation payments.  Companies must ensure their systems are reliable, transparent, and auditable to avoid such risks.

How Incentivate Supports Digital Transformation Goals

Incentivate is a powerful solution that helps companies overcome these challenges by digitizing and automating the entire incentive management process. With Incentivate, organizations can achieve the key goals of digital transformation: increased efficiency, reduced errors, and improved transparency.

Automation of Routine Processes

Incentivate automates many of the repetitive tasks involved in incentive management, such as data entry, calculations, and reporting. This reduces the burden on employees, allowing them to focus on higher-value tasks. Automation also minimizes the risk of human error, leading to more accurate and reliable outcomes.

Integration with Existing Systems

One of the major hurdles in digital transformation is integrating new solutions with existing systems. Incentivate is designed to work seamlessly with other enterprise tools, such as CRM, payroll, and ERP systems. This compatibility allows organizations to streamline their workflows and access data from various sources without duplication or manual intervention.

Real-Time Analytics and Reporting

Data-driven decision-making is a key aspect of digital transformation. Incentivate offers powerful analytics and reporting tools that provide real-time insights into incentive performance. This allows managers to make informed decisions quickly, adapting their strategies as needed to meet organizational goals.

Compliance and Security

Given the regulatory environment, Incentivate places a strong emphasis on compliance and security. The platform ensures all processes are documented and easily auditable, reducing the risk of regulatory issues. Incentivate’s security features protect sensitive data, ensuring the organization meets data privacy and protection standards.

The Competitive Edge: Fast Implementations and Minimal Downtime

One of Incentivate’s unique advantages is its quick implementation process. Unlike traditional systems that may take months to roll out, Incentivate can be implemented rapidly, with minimal disruption to business operations. This ensures that organizations can start seeing the benefits of digital transformation almost immediately.

Incentivate’s implementation process is streamlined and efficient, allowing companies to go live within a matter of weeks. The platform is highly configurable, enabling organizations to customize it according to their specific needs. Incentivate’s team provides hands-on support throughout the setup process, ensuring a smooth transition.

This fast implementation, combined with the platform’s intuitive design, minimizes downtime and allows employees to adapt quickly to the new system. By reducing the time and effort required for onboarding, Incentivate makes digital transformation accessible and achievable for organizations of all sizes.

The Road Ahead: How Incentivate is Innovating for the Future

Incentivate is committed to continuous improvement and innovation. The platform’s development team is always working on new features and enhancements to meet the changing needs of the industry. Future updates will focus on advanced AI-driven analytics, which will enable predictive insights and proactive decision-making.

In addition to AI, Incentivate plans to increase the platform’s configurability, giving organizations even greater control over their incentive processes. By staying ahead of industry trends and responding to client feedback, Incentivate aims to remain at the forefront of incentive management solutions.

Conclusion: Partnering for a Seamless Digital Transformation Journey

Incentivate is more than just an incentive management platform; it’s a partner in digital transformation. By automating processes, integrating with existing systems, and ensuring compliance, Incentivate helps organizations achieve their transformation goals with ease. As companies continue to navigate the challenges of a digital-first world, Incentivate is there to support them every step of the way.

For companies seeking a reliable, efficient solution to manage their incentives, Incentivate offers a clear path forward. 

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