
Nargis Dutt Foundation Felicitates Meritorious Scholarship Students on Sunil Dutt's Birth Anniversary
Mumbai (Maharashtra) [India], June 9: On the auspicious occasion of Sunil Dutt's birth anniversary, the Nargis Dutt Foundation (NDF) proudly hosted its annual scholarship felicitation program on June 6, 2025, honouring excellence, perseverance, and dreams turned into reality. Held in the spirit of empowerment through education, the event recognized the top achievers among 400 scholarship recipients supported by the Foundation from grade VIII to postgraduation across Medical, Engineering, and Master's programs.
As a GiveIndia Gold Certified and GuideStar India Gold Certified NGO, NDF has long championed the cause of education for deserving yet underprivileged students. This year's event was a resounding celebration of talent, hard work, and community support.
The evening brought together donors, well-wishers, and supporters who have helped make these scholarships possible. Nargis Dutt Foundation appreciated the continuous support of Khalid & Zeyna Ansari Charitable Foundation, RBL Bank Ltd and Hasbro India Toys Pvt Ltd. for their generous donations. In addition to the award distribution, the event featured an array of engaging games, gifts, music & dance that reflected the joy and enthusiasm of the student community. The event was graced by Mr Jassim Biljeek, Vice Consul General at the Consulate of the Kingdom of Bahrain in Mumbai.
Addressing the gathering, Chairperson & Trustee Priya Dutt shared a heartfelt message 'This scholarship program is not just about financial aid; it's about believing in potential. Each of our students represents a future of possibilities that would make my father, Sunil Dutt, immensely proud.'
Among the honoured students was Vedprakash Dubey, pursuing MBBS, who said, 'When all the roads ahead of me were closed, the Nargis Dutt Foundation became a ray of hope and helped me.'
Shumaila Khan, final year engineering student in Artificial Intelligence & Data Science, added, 'It wasn't just about funding my education, NDF gave me a sense of responsibility, to give back, to guide others, and to prove that even first-generation learners can lead the way.'
Govind More, completing his Master's in Social Work from TISS, expressed, 'To me NDF means – empowering marginalised communities through scholarships and mentoring to bridge the gap.'
The event was a powerful reminder of the transformative role that education and support can play in shaping lives. The Nargis Dutt Foundation remains committed to nurturing bright minds and ensuring that no dream is left behind due to financial constraints.
As the evening concluded with joyful celebrations and camaraderie, it was evident that Sunil Dutt's legacy of compassion and service continues to inspire generations.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
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The Print
7 days ago
- The Print
Nargis Dutt Foundation Felicitates Meritorious Scholarship Students on Sunil Dutt's Birth Anniversary
Mumbai (Maharashtra) [India], June 9: On the auspicious occasion of Sunil Dutt's birth anniversary, the Nargis Dutt Foundation (NDF) proudly hosted its annual scholarship felicitation program on June 6, 2025, honouring excellence, perseverance, and dreams turned into reality. Held in the spirit of empowerment through education, the event recognized the top achievers among 400 scholarship recipients supported by the Foundation from grade VIII to postgraduation across Medical, Engineering, and Master's programs. As a GiveIndia Gold Certified and GuideStar India Gold Certified NGO, NDF has long championed the cause of education for deserving yet underprivileged students. This year's event was a resounding celebration of talent, hard work, and community support. The evening brought together donors, well-wishers, and supporters who have helped make these scholarships possible. Nargis Dutt Foundation appreciated the continuous support of Khalid & Zeyna Ansari Charitable Foundation, RBL Bank Ltd and Hasbro India Toys Pvt Ltd. for their generous donations. In addition to the award distribution, the event featured an array of engaging games, gifts, music & dance that reflected the joy and enthusiasm of the student community. The event was graced by Mr Jassim Biljeek, Vice Consul General at the Consulate of the Kingdom of Bahrain in Mumbai. Addressing the gathering, Chairperson & Trustee Priya Dutt shared a heartfelt message 'This scholarship program is not just about financial aid; it's about believing in potential. Each of our students represents a future of possibilities that would make my father, Sunil Dutt, immensely proud.' Among the honoured students was Vedprakash Dubey, pursuing MBBS, who said, 'When all the roads ahead of me were closed, the Nargis Dutt Foundation became a ray of hope and helped me.' Shumaila Khan, final year engineering student in Artificial Intelligence & Data Science, added, 'It wasn't just about funding my education, NDF gave me a sense of responsibility, to give back, to guide others, and to prove that even first-generation learners can lead the way.' Govind More, completing his Master's in Social Work from TISS, expressed, 'To me NDF means – empowering marginalised communities through scholarships and mentoring to bridge the gap.' The event was a powerful reminder of the transformative role that education and support can play in shaping lives. The Nargis Dutt Foundation remains committed to nurturing bright minds and ensuring that no dream is left behind due to financial constraints. As the evening concluded with joyful celebrations and camaraderie, it was evident that Sunil Dutt's legacy of compassion and service continues to inspire generations. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same) This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.
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Business Standard
12-06-2025
- Business Standard
RBI winds down offshore currency tool reflecting shift in strategy
By Subhadip Sircar and Bhaskar Dutta India's central bank has scaled back its use of a key tool it deployed last year to counter the strong dollar, according to people familiar with the matter, reflecting a change in the authority's intervention strategy under its new leadership. The Reserve Bank of India 's short dollar positions in the non-deliverable forwards market have fallen sharply to below $5 billion, down from a peak of about $70 billion late last year, the people said, asking not to be named discussing private matters. The central bank had relied heavily on these offshore contracts in 2024 as the dollar surged, driven by a strong US economy and Donald Trump's presidential win. However, this year, the rupee has moved more freely against the greenback, suggesting a shift toward a more hands-off approach to currency management amid global trade uncertainty. 'A central bank cannot keep increasing its short forward book without losing the efficacy of this tool. So to prepare for further volatile events, the RBI will reduce its forward book substantially, if not completely,' said Dhiraj Nim, currency strategist at Australia & New Zealand Banking Group Ltd. An email sent to the RBI seeking comment on the matter didn't immediately receive a response. Using offshore non-deliverable forwards has a number of advantages for central banks, including potentially lower costs and the fact that they don't drain official reserves. That's because the NDF contracts allow the central bank to influence the rupee's levels without actually selling large amounts of dollars. Such interventions can also act as a signal of intent in the spot market, thus boosting the rupee when markets are volatile. The RBI's heavy reliance on the offshore market last year was in sharp contrast to its usual practice of curbing swings in the rupee onshore. Under Governor Sanjay Malhotra, who took office in December, the central bank has brought a large portion of its derivatives intervention to the local market. The reduction in the offshore exposure accounts for most of the recent drop in the RBI's overall forward dollar positions, the people said. As of April, the total forward book — covering both local and offshore markets — stood at about $73 billion, down from a record $88.8 billion in February. More than half the book was within the 3-month to 1-year maturity bucket, indicating a large portion of the book had been brought onshore. However, the RBI isn't worried about the potential drain on its reserves from these dollar sales. 'We are not unduly concerned about that,' Governor Malhotra told reporters on Friday after cutting interest rates for a third straight meeting. 'If there are opportunities, we can build reserves.' India's foreign exchange reserves have rebounded to $692 billion, nearing the record high of $705 billion hit in September. Still, the RBI will likely need to continue adding to its reserves over the next three months to cushion any impact of $14.7 billion in maturing short positions through July, Nomura Holdings Inc. analysts wrote in a note. More than two-thirds of the contracts in the overall forwards book were in the three months to one-year bucket and are unlikely to be rolled over, according to DBS Bank Ltd. The RBI's unexpected decision to cut banks' cash reserve ratio and free up ₹2.5 trillion in liquidity was also aimed at offsetting likely liquidity strain from unwinding short positions, according to the lender. When the RBI sells dollars to banks, it absorbs rupees, potentially tightening financial conditions. 'Liquidity infusion via the CRR cut would also aid this process and ensure it is non-disruptive, while shielding the currency,' said Radhika Rao, senior economist at DBS Bank.


Business Standard
11-06-2025
- Business Standard
Siddharth Balachandran Receives Mohammed bin Rashid Al Maktoum Medal for Philanthropy
PNN Dubai [UAE], June 11: Siddharth Balachandran, a UAE-based Indian entrepreneur and philanthropist, has been awarded the Mohammed bin Rashid Al Maktoum Medal for Philanthropy, one of the highest civilian honors in the United Arab Emirates for humanitarian work. The award, presented by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, recognizes individuals and organizations for their exceptional contributions to charitable causes and social impact initiatives in the region. Balachandran was honored for what officials described as his "outstanding effort and contribution to the enrichment of charitable and humanitarian work" across the UAE and India. The medal is considered a symbol of the Ruler of Dubai's commitment to a more compassionate and equitable society and is intended to encourage a culture of giving. "It's about giving back," said Balachandran in response to the honor. "If you are in a particular jurisdiction, you should contribute as much as possible there." Recognizing Impact Across Borders The Mohammed bin Rashid Al Maktoum Medal for Philanthropy highlights sustained and tangible impact in humanitarian work. Past recipients include Yusuff Ali M.A., Chairman of Lulu Group. The award serves as public recognition of exemplary dedication to social causes and aims to inspire broader engagement in philanthropy across the region. Balachandran was recognized for his significant support of key humanitarian campaigns in Dubai, including contributions to the Mother's Endowment and Father's Endowment initiatives, which fund programs focused on education, healthcare, and community rebuilding. He has also worked closely with the Indian consulate in Dubai to assist migrant worker communities in times of distress, particularly during emergencies. Environmental and Social Work in India In India, Balachandran's philanthropic initiatives are carried out through the Buimerc India Foundation, where he serves as a trustee. The foundation is engaged in large-scale environmental conservation and community empowerment projects. Key programs under the Foundation include: * Mangrove Restoration in Kerala: A three-year, 50-kilometer project in collaboration with the M.S. Swaminathan Research Foundation, aiming to restore coastal ecosystems affected by climate change and human intervention. * Reforestation in Wayanad: The removal of invasive species across 300 acres of degraded forestland, with support from Forest First Samithi and tribal communities. The project promotes natural regeneration of elephant habitats and native biodiversity. * Elephant Habitat Support in Mathura: In partnership with Wildlife SOS, the Foundation supports afforestation efforts at an elephant rehabilitation center, transforming barren land into a thriving ecosystem using the Miyawaki method. * Youth Environmental Education at Point Calimere: A collaborative initiative with the Bombay Natural History Society (BNHS) to promote ecological awareness among school students, focusing on bird migration, conservation, and biodiversity. These programs are aligned with global environmental priorities and reflect growing awareness about sustainability and the role of private sector actors in ecological restoration. Bridging Philanthropy and Policy Vision The medal also signals the UAE leadership's emphasis on cross-border philanthropy and the role of business leaders in furthering social equity and climate action. The Government of Dubai's recent philanthropic roadmap stresses multi-sector partnerships and measurable social outcomes -- criteria that Balachandran's work has consistently addressed. The recognition is especially notable for its regional scope. While Balachandran resides in Dubai and leads business operations from the UAE, much of the impact of his work spans across national boundaries, with direct benefits to communities in India. Government and Community Reaction Officials from both the UAE and Indian diplomatic missions have welcomed the award as a "positive signal of shared humanitarian values." The Indian consulate in Dubai issued a statement congratulating Balachandran and commending his long-standing contributions to community welfare. Local environmental groups in Kerala and Tamil Nadu also acknowledged the support from Buimerc India Foundation as "a vital intervention in otherwise underfunded conservation zones." An Emblem of Responsibility Speaking on the broader meaning of the award, Balachandran said: "I am honored to receive this prestigious gold medal from His Highness Sheikh Mohammed bin Rashid Al Maktoum. It reinforces my belief in the transformative power of philanthropy -- for people, the planet, and future generations." The Mohammed bin Rashid Al Maktoum Medal for Philanthropy continues to serve as a benchmark for recognizing leaders who integrate social purpose into their operational models. In honoring Balachandran, the UAE underscores the importance of sustained, cross-border impact, particularly in areas of environmental sustainability, social equity, and humanitarian aid.