Latest news with #AshutoshMishra
Business Standard
5 days ago
- Business
- Business Standard
How OmniCard is Powering India's $5 Trillion Business Economy with a Fintech OS Built for Scale
VMPL New Delhi [India], June 18: India is standing at the edge of a transformational economic leap. India's retail sector is projected to reach a massive US$ 2 trillion in value by 2032, and the number of startups is expected to double to 2.4 lakh by 2030. But these projections rest on a fragile foundation. Out of the 64 million businesses in India, only 4 million are digitized - leaving 60 million enterprises operating without basic digital tools. Every Indian business loses money not because of fraud or theft, but because of broken systems. Over the past few years, OmniCard has been shaping the Fintech backbone that's now helping Indian businesses thrive. OmniCard is bridging India's digital divide with a user-friendly, digital-first platform designed for seamless adoption -- from shop floors to CXO suites, across tier-1 metros to tier-3 towns. Trusted by enterprises, OmniCard is emerging as the AI powered Fintech OS for business spend -- powering every layer of the value chain - expense management, petty cash, incentives, travel, R & R - all with last-mile payment visibility. Today, over 500 forward-thinking enterprises trust OmniCard to run their business spend--across industries like retail, logistics, education, financial services, and digital marketplaces. With an RBI-issued PPI license, OmniCard operates independently of banks while adhering to the highest regulatory standards. By connecting every touchpoint in the spend journey with intelligence and efficiency, OmniCard is redefining how enterprises manage and move money. This value generation is already being seen on the ground. For German-headquartered sports brand PUMA, its India counterpart is efficiently managing and optimizing expenses across its extensive retail network in the country with partner OmniCard. Siddarth Asrani, CFO at PUMA India, says, "Managing expenses across our retail network used to involve multiple tools and constant follow-ups. With OmniCard, our store teams now have access to controlled budgets, and we get real-time visibility at our India headquarters. What stands out is the platform's ease of use which doesn't require detailed training. For a fast-paced retail business like ours, OmniCard is becoming a key player in our ops." Whereas Mr. Ashutosh Mishra Senior Vice President Finance from Policybazaar, a public listed Insurance marketplace says "As a high-growth digital organization, we manage multiple categories of corporate spending - from employee benefits and team travel to marketing and operational costs. Before OmniCard, consolidating and reconciling these expenses was time-consuming and often reactive. With OmniCard, we now have centralized visibility and control across departments, enabling us to stay ahead of spend rather than catch up to it." Mr. Gagan Garg, Finance Controller at India's largest gifting and corporate retail brand, Ferns N Petals, says "For us, managing retail spends and company expenses across a growing business network required an end-to-end solution. OmniCard delivered exactly the same. It gives us the ability to assign budgets to teams, enable UPI payments, issue cards instantly, and track spending in real-time. It has significantly improved visibility and efficiency in how we manage business expenses--both in-store and at the office. For a business of our scale, having this level of control without added administrative burden is a big win." "India's economic future depends not just on scale, but on how efficiently its businesses operate" says Abhishek Saxena from OmniCard "We're driving the next wave of business payments in India with need-based innovation, delivered through a go-to platform for business expense management. We're building the rails for intelligent business spending in India, combining banking-grade infrastructure with the agility of Fintech. Our goal is to be the obvious choice for B2B Fintech in India. When any business thinks Fintech, we want them to think OmniCard." India's growth story is gaining momentum, but true progress demands intelligent systems. Built for scale and inclusivity, The OmniCard AI powered Fintech OS is purpose-built to serve businesses of all sizes--adapting to their unique needs, scale, and workflows. Whether it's a startup managing team expenses or an enterprise optimizing multi-location spend, OmniCard offers the flexibility and AI intelligence to power their financial operations end-to-end. As India builds toward a $5 trillion economy and millions of businesses move toward digitization, AI powered Fintech OS platforms like OmniCard will play a critical role in shaping how the country's enterprises manage money.
News18
6 days ago
- General
- News18
Fears Of Subsidence In Nainital, Unlikely 'Villains' Are Causing Cracks On Naini Lake's Edge
Last Updated: Cracks in Nainital Lake's retaining walls have raised alarm, with experts blaming rat burrows and fish activity for weakening the structure and threatening its stability Naini Lake, the iconic feature of Nainital, the world-renowned lake city in Uttarakhand, is facing a new and unusual challenge. The retaining walls along its banks are weakening, with cracks appearing in multiple locations. This alarming development could pose a serious threat to the lake's future existence. Surprisingly, the culprits behind this damage are rats burrowing along the lake's edge and certain fish species living in the water. Sections of the wall stretching from Boat House Club, Pant Park, and Band Stand to Capital Cinema in the Mallital area have become particularly vulnerable. Visible cracks and signs of ground subsidence are raising concerns among locals and authorities. According to local boat operators and shopkeepers, the situation has worsened due to rats digging burrows into the lake's retaining walls. Narendra Singh Chauhan, Secretary of the Nainital Boat Owners Committee, stated that the number of rats has grown rapidly, especially near Pant Park, Boat Stand, and the lake's edge. He believes sweet corn sold around the lake could be attracting them. Tourists frequently consume corn and discard leftovers nearby, providing rats with easy access to food and encouraging their growth. These rodents are now hollowing out the walls by digging into them, compromising their structural strength. It's not just the rats; fish in the lake are also adding to the damage. Dr Ashutosh Mishra from the Department of Fisheries at Pantnagar University explained that the Common Carp, a fish species found in Naini Lake, digs through soil in search of food. This activity not only disturbs the lake bed but may also weaken the base of the shoreline walls. According to him, this could be contributing to ground subsidence and erosion. The Irrigation Department and the local municipality have taken note of the issue. Assistant Engineer D.D. Sati of the Irrigation Department said that repairs have already been made in the Pant Park area of Mallital, and work is underway on other damaged sections. He confirmed that rat burrows have indeed caused damage and said the issue is being taken seriously. A permanent solution will soon be devised in coordination with the municipality to address both the rats and the structural concerns. First Published: June 17, 2025, 12:51 IST
Time of India
05-06-2025
- Automotive
- Time of India
Maharashtra's Big Transport Shift: EV Push, Port-Linked Growth and Vadhawan as an Economic Catalyst
As India accelerates its shift toward cleaner mobility, smarter urbanization, and strategic maritime infrastructure, Maharashtra is positioning itself at the forefront of this transformation. From recalibrating its electric vehicle policy to launching one of the country's most ambitious port-led development projects at Vadhawan , the state is pushing forward a multidimensional agenda—combining sustainability, technology, and regional economic growth. In this wide-ranging conversation with Puja Banerjee and Ashutosh Mishra of ETGovernment, Sanjay Sethi , Additional Chief Secretary, Transport and Ports, Government of Maharashtra, speaks with ETGovernment about the state's evolving policy landscape—from building an integrated EV ecosystem and redefining urban transport planning to catalyzing shipbuilding and port-centric industrialization. With a sharp focus on implementation, public-private partnerships, and data-driven governance, Sethi lays out how Maharashtra aims to balance environmental imperatives, investor interests, and infrastructure demands in the coming decade. Edited Excerpts: Maharashtra's EV policy has been in focus in the past few days. What are some of the key priorities under it? Through the Maharashtra EV Policy 2025, the thrust is on increasing penetration by working on both demand and supply. We're offering subsidies across all vehicle categories and have also waived motor vehicle tax. Two and three wheelers initially picked up, but we're now pushing for four wheelers, commercial fleets, trucks, trailers, and utility vehicles like garbage contractors to come under the policy's ambit. These categories were earlier left out of benefits, and that's changing now. Apart from that, charging is a central pillar under the policy. We've identified specific pockets - Pune, for example, has exceeded targets already. Mumbai, on the other hand, lagged behind because of multiple reasons. So we're dealing with both the physical and regulatory bottlenecks. New rules now push for setting up charging stations in bus depots, fuel stations, and all new residential and commercial buildings. We aim to have one station every 25 km on the highways. The power regulator has also been roped in to ensure load management and pricing. So, we're building a robust charging ecosystem to eliminate both supply and financial hurdles. Another big development in the port and maritime area is the Vadhawan port. What is the vision behind Vadhawan Port? Why is it being positioned as a key growth zone? Vadhawan is not just a port, it's an anchor for regional economic transformation. The idea is to not let ports function in isolation. Globally, successful models like Singapore show how a port area becomes an engine of commercial activity. We're planning for the entire Vadhawan zone to be developed as an economic and employment hub - with logistics, manufacturing, services, and housing all integrated. This is the first central government port project with state equity. Decisions are being taken jointly so that both central and state objectives are aligned. There is also a plan to promote shipbuilding and repair in Maharashtra. What's the proposal? India has begun promoting shipbuilding more actively, and the Centre has created a Maritime India fund that offers capital support. We're working on a model where Maharashtra will develop basic shipbuilding infrastructure, similar to plug and play industrial parks, and offer it to private players. They bring in the machinery, manpower and operations. We'll provide ready space, connectivity, and utilities. It's being framed under PPP models, with room for leasehold or revenue sharing agreements. Are you seeing investor interest in such a shipbuilding ecosystem? The response from stakeholders has been positive. There's a strong case for ship repair and mid-sized shipbuilding yards along the coast. Our job is to reduce entry barriers - by ensuring land availability, regulatory ease, and backend logistics. We're currently ironing out the capital and policy components so these projects can move forward. Something like viability gap funding is also under consideration. Switching to urban issues, what is the thinking around the state's parking policy and congestion control? The number of vehicles in cities has reached a point where PM 2.5 levels are far above standards. If this continues, people won't be able to commute at all, and that affects everything from work to leisure. So we need stronger parking regulations. One of the proposals is proof of parking for vehicle purchase, not as a ban, but as a way to check unregulated growth. But we also need to expand public parking to avoid making it punitive for today's generation. This must come from local urban bodies, via zoning, DC rules, and developer mandates. Does this also involve a rethink of urban design and carrying capacity? Urban transport can't be solved in silos anymore. We have to assess how much traffic an area can realistically bear. If road capacity is saturated, we must regulate fresh inflow. At the same time, robust public transport and parking options must exist. We've had extensive discussions with stakeholders, and a multidisciplinary policy is in the works. But it has to be phased, equitable, and practically implementable. There has been news about a possible consideration of regulating cab prices in Maharashtra. What is going on in that area? We have received concerns around excessive fluctuations in cab pricing from citizens for quite some time now. So we have decided to come up with a framework that will define pricing slabs for aggregators. The idea is not to fix prices, but to create a band, say, a minimum and a maximum fare. It gives some leeway but prevents exploitation. The concern is both from commuters, who find surge pricing arbitrary, and from driver partners, who feel the commission structures are not transparent. So the policy will cover both. We're studying different models and consultations with stakeholders are happening for now. How is the transport department using technology like AI and IoT in its operations? AI is deeply embedded already. We operate around 18,000 buses, and GPS based geofencing helps monitor routes and performance. Cameras and radar-based devices are used for speed enforcement, alert systems, and data analysis. From informing passengers about bus arrivals to detecting route deviations, technology is improving safety and efficiency. But we must use AI intelligently - not just for automation, but for insight and preventive decision-making. What's your policy approach when facing competing needs and limited resources? The idea is to not just respond to individual complaints but to solve systemic problems. For instance, a local traffic jam may point to flawed planning or coordination. So if we're drafting a policy, it should address root causes - not just be a patch. Each solution should be a stepping stone to something larger, not just a fix for one constituency.
Trade Arabia
13-05-2025
- Business
- Trade Arabia
Egis appoints Regional Director for Nuclear
Egis, a leading global architectural, consulting, construction engineering, operations and maintenance services firm, has appointed Ashutosh Mishra as Regional Director for Nuclear, a key leadership role that reflects the company's growing commitment to supporting national energy strategies and sustainable development goals across the region. With nearly 20 years of experience in the energy and infrastructure sectors — including more than a decade working within the Middle East — Mishra brings a strong track record in leading complex projects, building high-performing teams, and delivering tangible results. He has led major initiatives focused on policy advisory, project execution, and capacity building. His collaborative leadership style and strategic outlook have enabled him to guide projects that balance environmental objectives with commercial and operational realities. With Mishra leading its nuclear practice, Egis strengthens its position as a trusted partner to governments and private sector clients navigating the complexities of the energy transition—helping them align infrastructure investments with decarbonisation targets, economic diversification, and global competitiveness, the company said.
Time of India
13-05-2025
- Business
- Time of India
Charting India's quantum future: Policy, startups & pursuit of technological leadership
Few missions in India's tech landscape have generated as much excitement—and anticipation—as the National Quantum Mission (NQM). Launched in April 2023, and operationalised in earnest from January 2024, the mission aims to catapult India into the elite league of nations pioneering quantum technologies. With a bold focus on product development, indigenous innovation, and multi-stakeholder collaboration, NQM is not just about research—it's about outcomes. At the helm of this transformative initiative is Dr. Ajai Chowdhry , co-founder of HCL and Chairman of the EPIC Foundation, who chairs the Mission Governing Board. In this wide-ranging interview with ETGovernment's Ashutosh Mishra, Dr. Chowdhry outlines the structured and goal-oriented approach of the mission—covering everything from T-Hub development and startup incubation to upcoming quantum security standards and a national policy framework. India's quantum journey, it appears, is no longer a distant aspiration but a calibrated strategy in motion. Edited excerpts: Where does the National Quantum Mission currently stand in terms of execution? The mission was launched in April 2023, but actual implementation began in January 2024 with the formation of the Mission Governing Board, which I was appointed to chair. The Board comprises key secretaries from DRDO, MeitY, Department of Space, Department of Atomic Energy, Department of Defence, and the Department of Science and Technology (DST), where the mission is housed. In our first meeting, we decided to get the R&D work started. The government had given a clear directive to establish four technology hubs (T-Hubs): one each in quantum computing , quantum communication, quantum sensing, and quantum materials & devices. We issued a Request for Proposal (RFP) within a week, and received an overwhelming 315 responses. After evaluating them over two months, we selected: IISc for quantum computing, IIT Madras for quantum communication, IIT Bombay for quantum sensing, and IIT Delhi for materials and devices. Each T-Hub was asked to submit six-monthly detailed work plans. This is not research for the sake of research - the mission is product-oriented. The government has defined clear deliverables. For example, in quantum computing, the target is to build a 1000- qubit system. In communication, the goal is a secure 2500 km fiber and space link. Similarly, specific goals exist in sensing and materials. What is the structure adopted for these T-hubs and their operations? We're following a hub-and-spoke model. Along with the four hubs, we have selected 85 researchers from different institutes to work as spokes. Each hub will have its own governing board and a Section 8 company to allow operational flexibility - free from rigid government procedures. Each of these Section 8 companies will have a CEO and a board. The hubs have submitted their detailed plans, which were approved by March 2025. Initial seed funding was provided around four months ago, and the next tranche of funding for research will be released within the next 15 to 30 days. What are you doing to support startups and increase their interest and participation in the National Quantum Mission? Startups are a crucial pillar. We've launched a dedicated startup program that allows for up to ₹30 crore in funding per startup - which is unmatched under any similar support scheme. Of course, the amount varies - some get ₹30 crore, others ₹15 crore, ₹10 crore, or ₹5 crore - depending on their merit. The eligibility criteria include being an Indian company with at least 51% domestic ownership, and the IP must remain in India. In return, the government has put in place a unique security clause, that is, when these startups raise venture capital, they must offer the government the option to buy shares at a 30% discount. This is unprecedented in government funding models. So far, eight startups have been awarded grants. The first cohort was launched in mid-2023, before the T-Hubs were ready. One of the existing Department of Science and Technology hubs handled the evaluations then. Now, with the T-Hubs operational, they will take over that responsibility going forward. Any plans to scale the number of startups supported under the mission? The first phase was through an RFP, and we received nearly 100 applications - eight were selected. We are now planning a new monthly rolling cohort model, where startups can apply by the 15th of every month. This new program is under discussion and awaiting board approval. We expect it to launch in the next month or so. What are you doing, when it comes to the space of education and talent development in the Quantum computing space? We've partnered with AICTE to launch an undergraduate curriculum in quantum technology, developed by a committee under the NQM. It will roll out in 75 universities starting July 2025, and the curriculum is already finalized. We're also providing lab equipment to these universities to support teaching requirements. Additionally, we're training faculty and developing a vast library of supporting video content. An MS program is under development and should be ready in the next month or two. Meanwhile, an MS program was already launched at IISER Pune in September 2024, and the first cohort is underway from there. How is the mission being coordinated across different efforts? We've established a Mission Coordination Center in Noida, under the aegis of IIT Kanpur. Its role is to monitor and ensure that the hubs and projects stay on target. It will conduct six-monthly reviews and also oversee the startup initiative - at least until the T-Hubs fully take over. What is being done on the policy and security front, especially with the quantum threat to cybersecurity? We are developing a detailed quantum policy to guide all departments on transitioning from classical RSA standards to quantum-secure systems. The Board has approved the terms of reference, and a team has been constituted to write this policy. The shift can't happen overnight - organizations like banks operate cybersecurity systems across thousands of sites. Hence, we are advising a staggered, long-term implementation plan. Departments like the armed forces have already taken the lead in this front and have begun implementing some quantum-secure measures. We're also working on standards, accreditation, and product approvals. The Department of Defence (DoD) is helping us on this front, and we are collaborating with the National Physical Laboratory to define Indian standards rather than follow American benchmarks. We want to lead, not follow. Despite recent developments in quantum computing, the momentum of private sector involvement in this field still seems limited compared to other emerging technologies. In your opinion, what needs to be done to increase private participation in quantum R&D? We've held meetings with major IT companies - TCS , Tech Mahindra , HCL, Wipro - to encourage them to initiate quantum research in algorithms and applications, areas where they can significantly contribute. We also brought in pharma companies to demonstrate how quantum technologies could aid drug discovery. The idea was to get the groundwork laid before pulling in large numbers. With over 150 people now involved, the base is strong. Ongoing funding will be tied to regular six-monthly milestone reviews. On the funding, do you think the initial allotment of ₹6,000 crore, is adequate for such an ambitious program? The total budget is ₹6,000 crore, with ₹4,000 crore under DST and ₹2,000 crore contributed by the Department of Space, Atomic Energy, and Defence. MeitY - though initially missed out - has now joined and allocated ₹500 crore, with plans to raise that to ₹1,000 crore. Many people ask if this is enough, and I say - don't just look at the rupee number. The PPP (Public-Private Partnership) model will amplify what we can deliver. Let's first spend what we have. When we run out, we can always go back to the government and ask for more. Amidst the ever rising cyber frauds - do you think quantum technologies can help curb rising cybercrime and financial frauds? If we can make our systems quantum secure, today's cybersecurity challenges - especially in financial systems - can be dramatically mitigated. And that's the direction we're heading toward.
