MARCH 20249TOP STORIESDBS BANK ALLOTS RS.2,000 CRORES FOR NEW AGE STARTUPSDBS Bank India has set aside $250 million (approximately 2,000 crore) to extend lending support to new-age startups, recognizing their resilience and potential amid a challenging funding environment. The bank's focus on profitability and efficiency in the startup sector reflects a broader shift in perspective, with startups increasingly prioritizing sustainable growth.Rajat Verma, head of institutional banking at DBS Bank India, highlighted the opportunity to provide financial assistance to startups that have weathered the storm and are now looking to scale up. The bank is particularly interested in startups operating in healthcare, technology, AI-driven financial services, transportation, logistics, retail, waste management, and supply chain logistics.Utilizing its extensive corporate banking network, DBS Bank aims to offer a range of tailored financial products and digital solutions to startups, including escrow services, foreign exchange, cash management, trade financing, and regulatory reporting. The bank plans to leverage its expertise in risk management to ensure prudent lending practices while supporting the unique needs of startups in the digital economy.Verma emphasized that DBS Bank would adopt a flexible approach to credit assessment and risk management, acknowledging the unconventional nature of startup financing. While the bank will not provide equity funding, it remains committed to providing innovative banking solutions to support the growth aspirations of startups across various sectors. P&G INDIA APPOINTS KUMAR VENKATASUBRAMANIAN AS NEW CEOProcter & Gamble India has announced the appointment of Kumar Venkatasubramanian as the new CEO for its country operations, effective May 1. Venkatasubramanian will succeed LV Vaidyanathan, who is set to depart the company after 28 years of dedicated service to pursue other interests.Venkatasubramanian, an alumnus of IIM Calcutta with nearly 24 years of experience, is currently the CEO of P&G's business in Australia and New Zealand. He previously led the sales team in P&G India until 2020, bringing a wealth of experience and insights into the Indian market.Stanislav Vecera, President of P&G Asia Pacific, Middle East, and Africa, expressed confidence in Venkatasubramanian's leadership abilities, highlighting his prior contributions to the Indian organization. Vecera emphasized Venkatasubramanian's familiarity with the Indian market and his track record of executing successful business strategies.During his tenure in Australia and New Zealand, Venkatasubramanian spearheaded several impactful initiatives, including P&G's notable partnership with the Sydney Gay and Lesbian Mardi Gras. His return to India is anticipated to further drive growth and innovation in P&G's operations within the country.Venkatasubramanian expressed his enthusiasm about returning to the Indian market, emphasizing his commitment to understanding consumer needs and delivering exceptional results. He outlined plans to focus on a portfolio of daily-use products, emphasizing performance and excellence across various aspects of the business strategy.With Venkatasubramanian at the helm, P&G India aims to continue its momentum of delivering consistent results and achieving balanced top and bottom-line growth. His appointment signifies P&G's dedication to serving the Indian market effectively while maintaining its commitment to excellence and innovation.
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