NTPC LTD- THE TRAILBLAZER OF ENERGY SECTOR IN INDIA

NTPC Ltd is the largest power generating company in India. It is engaged in the business of generation and sale of bulk power. It is an Indian Public Sector Undertaking, engaged in the business of generation of electricity and allied activities. NTPC Ltd was incorporated under the Companies Act 1956 and the foundation of energy sector was taken in India. This company is the part of Indian government and it is promoted by the Government of India. The company was headquartered in New Delhi. The core business of the company is generation and sale of electricity to state-owned power distribution companies and State Electricity Boards in India.

NTPC is on the top position in power generating company with the capacity of 53, 651 MW. NTPC contributes to over 25% of total power generation and is now producing 25 billion units of electricity every month. Apart from its headquarter the company is operating from 55 locations in India, and 2 locations in Bangladesh and one location in Sri Lanka. In the 2011, NTCP was listed in Forbes Global 2000 and it was 348th worldwide position in the world.

Leading Team

Chairman and Managing Director

Gurdeep Singh is the Chairman and Managing Director in NTPC Limited. He initiated his career with NTPC Limited and has worked at different levels both in Indian and Multi-national Companies including Powergen, IDFE, CESC, AES, and CLP. He holds expertise in different areas of Power Sector including business development, projects, and operations. In academics, Gurdeep Singh did mechanical engineering and undergone Management Education Program at IIM Ahmedabad.

Here is the list of top leaders in NTPC

Shri S. Roy- Director (HR)
A K Gupta- Director (Commercial)
Susanta Kumar Roy- Director (Projects)
Prakash Tiwari- Director (Operations)

History of NTPC Ltd

NTPC was incorporated on November 7, 1975, as a private limited company. On September 30, 1976, the word Private was removed from the company’s name consequent after the notification issued by the government exempting government companies from the use of private.

In 1978, it took over the management of the Badarpur project. Also, at Singrauli they commissioned the first 200MW unit. In 2005, the name of the company was changed from National Thermal Power Corporation Ltd to NTPC Ltd to reflect the diversification of their business operations above thermal power generation to include other generation of power from hydro, renewable, nuclear, energy sources and undertaking coal mining and exploration activities.

In 2009-2010, NHPC accomplished a profit after tax of s 2,090 crores. There was an increment of 94% than the previous year’s profit of Rs 1,050 crores. Present-day, NHPC is in the list of top 10 companies in India in terms of investment.

In October 2017, NTPC announced that it Unchahar power station situated in Rae Bareli district of UP has made a national record with 686 days of continuous generation by its 210MW Unit-I.

In January 2018, NTPC Ltd listed its USD 6 billion MTN programmed on India Exchange at IFSC GIFT City thereby becoming the first quasi-sovereign company of India to list at India INX. The listing will support the company to raise funds at lower costs from international investors and also allow foreign investors to access high-quality Indian debt paper.

Objective

NHPC was pounded to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. Later on, NHPC increased its objects to include other sources of energy like Tidal, Wind, Geothermal, etc.

Vision

NTPC is working with a vision “to be the world’s largest and best power producer, powering country’s growth.”

Mission

“NTPC’s mission is to develop and provide reliable power, related products and services at a very competitive cost, integrating various energy sources with modern and eco-friendly technologies and contribute to the welfare of the society.

NTPC Ltd has been serving India for a long time. Here, we are presenting some amazing points about the company:

NTPC Ltd is the biggest power generator of India with over 31,000 MW capacities.
In 2014, the company ranked 424 in Forbes Global 2000.
National Thermal Power Corporation is one of the seven PSUs to have been granted the elite Maharatna status.
The first Chairman of NTPC was D. V. Kapoor.
The National Thermal Power Corporation generates more power than its capacity by operating its power plants at higher efficiency levels.
NTPC Vindhyanchal in MP at 4,760 is the largest power plant by generation capacity.
In the year 1996, the company created history when its sixth unit, the 210 MW Ramagundam, generated energy for 406 days straight.

NTPC adopted its acronym as its official name in the year 2005. During this time, the company started working into new ventures of hydro-and nuclear-based power generation.

Read about:- ENERGY SECTOR OF INDIA: MAJOR SOURCES AND FUTURE OF THE INDUSTRY

ENERGY SECTOR OF INDIA: MAJOR SOURCES AND FUTURE OF THE INDUSTRY

The Indian power sector is going through tremendous transformations that have redefined the industry outlook. Sustained economic is continuous to drive electricity demand in the country. The Indian government is focused on attaining ‘Power for all’ has accelerated capacity addition in the country. According to the data presented by the International Energy Agency, the investment of the energy sector in India has increased by 12% last year. In terms of volumes of energy-centrist investments, India ranked fourth-behind China, US, and Europe but positioned ahead of South East Asia and sub-Saharan Africa regions.

India is well-endowed with exhaustible sources like coal, lignite, natural gas oil, hydro and nuclear power and renewable energy resources including solar, wind, agricultural and domestic wastage. The source of power generation was dependent on non-renewable energy resources until 1980. Coal was the largest source of energy sector. However, India’s primary energy mix has been changing over time. In spite of increasing dependency on commercial fuels, the energy needs of rural areas is fulfilled by non-commercial energy sources like fuel wood, crop residue, and animal waste, etc. Although, other forms of commercial energy sector is steadily replacing the traditional energy resources in the rural area. Here is the list of major sources of energy in India:

Coal- India is third Biggest Coal-producer

In the list of coal-producing countries, India’s position is third. As coal has been the most abundant fossil fuel for the country till date, it continues to be one of the most important sources for fulfilling the domestic energy needs. It accounts for approx 55% of the country’s total energy supplies. The development of core infrastructure sectors like power, steel, and cement is completely dependent on coal.

Power: Critical Source for the Country’s Growth

Electricity is considered as a critical source for the country’s growth. Its affordability and reliability have brought significant enhancement. India is progressed amazingly towards the augmentation of its power infrastructure. In absolute terms, the installed power capacity has raised from 1713 MW (megawatts) as of 31 December 1950 to 118 419 MW as of March 2005 (CEA 2005). Energy need growth from 390 BkWh (billion kilowatt-hours) during 1995/96 to 591 BkWh (energy) by the year 2004/05 and peak demand increased from 61 GW (gigawatts) to 88 GW over the same period. Although, it is a serious issue that per capita consumption of electricity is still among the lowest globally. Besides, poor quality of power supply and frequent power cuts impose a heavy burden on India’s growing trade and business world.

Oil and Natural Gas: Consumption in on High

Present-day, India holds 0.4% of the world’s crude oil. In the last few years, crude oil production has increased from 6.82 MT in 1970/71 to 33.38 MT. Also, the production of natural gas increased from 1.4 BCM to 31.96 BCM during the same period. Apart from the product, the consumption of natural gas in India has risen faster than any other fuel in the last few decades. The demand for Natural gas has been growing at a rate of about 6.5% in the last decade. Because some major Industries including power generation, fertilizer, and petrochemical production are shifting to natural gas.

Earlier, the domestic production was enough to meet the consumption needs. But these days, there has been a huge unmet demand for natural gas in the country, mainly required for the core sectors of the economy. To bridge this gap, LNG is imported on a wider range for India’s expected gas shortages.

Renewable Energy Sources: Tacking the Energy Security Concerns

Renewable energy is known for offering a viable option to tackle the energy security concerns of a country. India has now one of the highest potentials for the effective use of renewable energy. It holds the fifth position in producing wind power. There is great potential in India for the generation of power from renewable energy sources like small hydro, biomass, and solar energy. The country has an estimated SHP (small-hydro power) potential of about 15 000 MW. Other renewable energy technologies like solar photovoltaic, biomass power, and solar thermal and small hydro are also spreading.

A Glimpse of Future in Energy Sector

Increasing demand for energy in different sectors is an important concern. Because of the rising population, expanding economy, and an increasing demand for better quality of life, the total primary energy consumption is expected to about 412 MTOE (million tonnes oil equivalent) and 554 MTOE

According to the International Energy Outlook 2005 (EIA 2005b) projects, the gas consumption of India will grow at an average annual rate of 5.1% and reach 2.8 trillion cubic feet by 2025.

It is a fact that coal will continue to be the predominant form of energy even in the future. However imports of petroleum and gas would continue to rise substantially in absolute terms, including a large energy import bill. There is an urgent need to conserve energy and reduce energy needs by demand-side management and adopting more efficient technologies.

Read about:- UNKNOWN FACTS ABOUT ENERGY SECTOR IN INDIA, YOU DON’T KNOW

Unknown Facts about Energy Sector in India, You don’t Know

We use energy every day from our daily routine work to our business works. But do you know that electricity is the flow of electros generated by transforming a primary resource, like coal, nuclear or solar into energy. Electricity is something that carries spirit to your every taste and supports you to power your lights and appliance. Here, we are presenting some more amazing facts about the energy sector that you do not know:

Sun is the Biggest Source of Power

The Sun is the biggest source of power; on an average one hour’s worth of energy from the Sun could power the Earth for a year.

Google Use more Power than Expectation

The energy Google needs to conduct ten searches could power a 60 watt light bulb. At one time the energy search engine use could power 200,000 homes. So make sure, next time you search for anything.

Gas does not have Smell

Natural gas is mainly made up of methane; it does not have any kind of smell. Companies add Sulphur compounds to give the gas a distinctive smell. It is done for safety reasons and supports you to smell a possible leak.

Coal is the Major Source of Energy

A lot of countries depend on coal for producing energy. The US produces half of its electricity; China products three-fourths of its electricity from coal; Australia, South Africa, and Poland create an even greater percentage of energy from coal.

Biggest Producer and Reservoir of Oil

There are ten countries in the world, which produce 2/3 of the world’s oil. And, they also have the same percentage of known reserves. Saudi Arabia holds the top position in both lists.

US is on Top in Nuclear-generated Energy

United States is on top rank in producing nuclear-generated electricity than any other country, it produces nearly 1/3 of the world’s total energy. France is one second position, which generates more than 3/4 of its electricity in nuclear reactors.

Largest Source of Greenhouse Gas

In the USA, electric utilities are the largest source of greenhouse gas.

Wind Turbine can Generate huge Electricity

Turbine is great in generating electricity. Just 1 wind turbine can generate enough electricity to power approx 1,400 homes.

China in on Top in Generating Energy

When it comes to generating spirit through turbine, China is the first name. As of 2017, the country makes 2 wind turbines in every hour.

UK is Top in Renewable Energy

In renewable energy sources, such as wind and solar power, UK is one top. It generates almost a third of the UK’s electricity.

Renewable Energy is on Great Demand

Renewable Energy is on great demand; it is able to create 5 times more jobs than fossil fuels.

First Commercial Offshore Wind Turbine

30 years ago, Siemens created the first commercial offshore wind turbine. The blades of this turbine are 5 metres long, producing just 30 kilowatts of power. Today, the latest model has 75 metre blades that are able to produce 6 megawatts (25,000 times as much) that are enough to power 6,000 homes.

Solar Power can be Used at Night

If you think solar power is only a daytime deal, you may be wrong. You can store the power from the sun in salt and utilize that at night.

Romans are First on Geothermal Energy

If we talk about the use of geothermal energy, Romans were the very first to use this form of spirit to heat their homes.

Fist Solar-powered Airplane

In the file of solar energy, a world record was made in 1990. In United States, a solar-powered airplane flew across the country in stages; it did not use any fuel at all.

The ‘Green Internet’

Many contemporary tech giants like Google, Apple, and Facebook are focusing to create a ‘green internet’. Every company is using increasingly green spirit to power the web.

Nobel Prize for Discovering Solar Panels

In 1921 Albert Einstein was given the Nobel Prize award in Physics for his discovery of the photoelectric effect – and hence, solar panels.

Speed of Electricity is same as Light

Electricity is able to travel very fast like the speed of light. Although, the dimensions of the wire and other factors widely affect its speed, but it’s usually around 90% of the speed of light or 270,000 km in every second.

Human Bodies also Use Electricity

You will be surprised to know that we use electricity not only to power our devices, but our bodies also. Bioelectricity is used to pass signals from cells to muscles, and we need adequate voltage, about -50 millivolts, to heal.

Australia is Giant in Producing Energy

Australia is giant in producing energy, it produces around three times more spirit than we consume.

Dependency on Non-renewable Energy

Most of the energy we produce (88%) is from non-renewable sources, like coal, natural gas, and petroleum products. In renewable sources, hydroelectricity provides 5% and wind accounted for 4%.

Read about:- WHAT IS WINDOWS 10X, AND HOW IS IT UNIQUE?

INTRODUCING SHINE AND SECURITY TO BUSINESSES WITH TRAILBLAZING SOLUTIONS: Senaxus Technologies Private Limited

Purpose-built to serve the myriads need of the modern market, Senaxus Technologies is acingit; they are excelling at delivering turnkey solutions for complete SITC (Supply, Installation, Testing, and Commissioning) of all Solar Solutions, LED Lighting, Electrical Solutions, and security solution domain.

Synonymous with innovative solutions, Senaxus under the hegemony of two college friends, Vikas Owdhbal and Rajesh Kumar Budia, commenced its operations with a humble seed funding, and it has grown by leaps and bounds doubling its size year after year and now it aspires to be around Rs.90 Million by the end of this year and around Rs.1000 Million by 2025.

THE BUILDING FORCES

Vikas Owdhbal, Co-Founder & Director

Vikas Owdhbal is the Co-Founder and Director of Senaxus Technologies. He is the man behind the triumphs of the corporation from the inception. He is a seasoned marketing professional with over 20 years of amazing experience in the corporate world. In academics, Vikas is an Engineering Graduate in Electronics & Telecommunication and also possesses a Master’s degree in Business Administration.

Rajesh Kumar Budia, Co-Founder & Director

Rajesh Kumar is leading the victorious journey of Senaxus successfully. He is a champion of ideas and particular ensuring maximum satisfaction of clients. Rajesh has spent 20 years in Industrial Electrical supplies with Hotels, Hospitals, and big corporate houses. Rajesh is armed with a B.E degree in Electronics & Telecommunication possesses a Master’s degree in Business Administration and also has an ICWA degree to his credit.

FROM INFANCY TO PRESENT SCENARIO

Senaxus entered the market five years back. Although, the planning for this venture was initiated in 2010, the founding directors took some time to come out of their comfort Zones and establish this organization.

With the passage of time, they gained the confidence of clients as well as suppliers. And, Senaxus is growing at a very high CAGR and aspires to be the top 5 solution providing companies in India by 2025.

THE PRODUCTS ON OFFER

Senaxus Technologies Private Limited (STPL) offers quality, comprehensive and end-to-end solutions in Power Management, Solar Solutions, LED Lighting and Complete Security Solution domains with utmost gravity on 24x7x365 after-sale services. It delivers integrated solutions right from the conceptual stage to designing, planning, execution, and after-sales support.

In Power management vertical, the company deals in ONLINE UPS systems from 1 KVA to 5000 KVA Capacities, Grid Connected Solar Power Plants and LED Lighting Solutions.

In the security domain, they are majorly into designing and execution of IP & HD CCTV solutions for small to large scale clients. They also provide customized solutions for Access Control Systems, Time Attendance Systems, Fire Alarm Systems, and Video Door Phones. Besides, they design a complete IP based CCTV network for our corporate clients as per their requirements. We do complete SITC (Supply, Installation, Testing, and Commissioning).

Senaxus Technology is probably one of the very few companies in India that are into the designing and execution of CUSTOMIZED product Solutions for both these domains.

CURRENT SCENARIO

“The current market scenario I would say is very promising. The opportunities for startup and small companies like ours are immense. With a lot of good initiatives being taken by the Government & the corporate world in the Power & security domain, we are optimistic that the growth prospects are quite high”, asserts Vikas Owdhbal.

Rajesh Kumar further adds, “Some of the key sectors like Healthcare, Pharma & Hospitality are witnessing very good investments. Many new & expansion projects are coming up from these sectors. This will create a lot of good opportunities for the products and solutions being offered by Senaxus.”

GAINING AN EDGE AND OVERCOMING HICCUPS

“The major roadblocks were team building, finding the right OEMs and customers. As we were a new entrant in the already crowded market, people were a little skeptical about working with us. But, with the over time, we gained the confidence of clients as well as our suppliers. Today, we are associated with the biggest of the names in the Medical, Education, Hospitality, Pharma and manufacturing sect ors,” says Vikas Owdhbal.

DRIVING FACTORS BEHIND COMPANY’S SUCCESS

“The major contributing factor to our company’s success is our PEOPLE. Our team works tirelessly to address and resolve all our customer needs. Second is our determining nature, whatever we commit to our client in terms of sales or service deliverables, we ensure to stand by the same and deliver it on time. Another essential focus of our world-class products & solutions is to deliver customize solutions according to clients’ requirements,” Rajesh Kumar proudly shares.

KEEPING THE TEAM SPIRITS HIGH

Senaxus Technologies Pvt. Limited is a very young and dynamic company. They have a team of young Engineers, Technicians and Management graduates with very open and unique work culture. They have no bosses, only colleagues. They all respect each other’s points of view and suggestions.

Senaxus works cohesively as a family with only one aim “CUSTOMER SATISFACTION” and they believe that the secret behind a company’s success is keeping customers happy.

BUILDING LONG TERM CUSTOMER RELATIONSHIP

Vikas Owdhbal shares, “It gives us a lot of joy to share that about 60% of our business YOY is from our existing customers. There is no big tactics or strategy as such to keep them engaged with us on a long term basis. We keep it simple. We try to work with them right from the inception stage.”

Rakesh Kumar further adds, “We never try to become like a typical supplier rather we try to become their partners. We help them with our latest know-how in designing the best Solutions together. We provide the best Techno-Commercial proposals along with round the clock after-sales support to keep their critical operations running.”

FEATHER IN THE CAP OF SENAXUS

Senaxus has successfully created its mark in the market and has graduated in handling and executing large projects. Here is the list of major milestones won by the company:

Senaxus is currently an ISO 9001, MNRE, MSME & DIPP certified company.
It was rated as one of the “10 Most Promising Security companies in India in 2017” by Silicon India Magazine.
Senaxus was featured as one of the “10 Most Admired Electronic Security companies in India in 2018” by Insight Success Magazine.
The company was listed as one of the “The Top 30 Inspiring Entrepreneurs to watch in India in 2018” in Insight Success Magazine.

PLANS AHEAD FOR THE COMPANY

Senaxus Technologies is involved in integrated projects in the corporate sector and is now focusing to explore the same into the government sector. Senaxus Technologies is also designing some new product lines based on IoT (Internet of Things) and AI (Artificial Intelligence). They plan to launch a Home Automation product line based on IoT by early 2020.

Akshya Power: Serve solar O&M companies across India

India’s per capita energy consumption currently stands close to one-third of the world average. India is running renewable energy initiatives in a big way and has emerged as the second most attractive market for renewable energy equipment in the world. With the headquarters of International Solar Alliance, India is all set to become a global leader in solar energy. India being a growing economy, power consumption is only going to rise and the country has realized that building and operating the solar farm is cheaper than existing coal fields. Remarkable environmental benefits of Renewable energy making it the biggest driver to help us meet our carbon emission reduction targets. Indian government has set a new goal of achieving 100GW capacity by 2022.

Akshya Power is one of India’s most exciting startup in the Solar Industry. Akshya in sanskrit means, something which never depletes, hence it’s a synonym of the English word renewable. “We strongly believe that renewable energy is the future of energy and solar is at forefront of it. We started developing our software for Solar Industry in the year 2015 and launched it in 2016. Initial response for the software was encouraging and that motivated us to build further for the industry,” says Ritu Choudhary, Co-Founder, Akshya Power.

Serving the Best

The solar Energy firm has three major products namely AkshyaPower, a cloud based monitoring solution for keeping real time track of data from every asset of the plant, O&M Portal -a web based dashboard to monitor Operations & Maintenance activities in solar plant and Reportly – It automates the reporting and analysis for large solar portfolio companies. “For portfolio companies, we provide an integrated solution, which can combine all three of our solutions together and there is nothing beyond this that you would need for managing and operating a large or small solar portfolio. With Akshya Power, we also have our in-house built easyLog datalogger, so it can just plug-in with any of the existing device from any manufacturer or any communication protocol. Akshya Power can be scaled from 1MWp to GWp level plants, without any hitch. We also provide realtime information of plant performance with a dashboard that contains text and graph based widgets. Critical alerts from plants are sent via email and SMS for quick actions. Other activities like Preventive Maintenance Scheduling, Issue tracking and Stock management are handled by our product O&M Portal, while portfolio reports and data analysis feature are available in Reportly,” added Shree Kant Bohra, CEO, Akshya Power.

Professional in the field

Shree Kant Bohra, is a passionate technologist with soaring vision and ideas. He’s an engineer with a knack for entrepreneurship believing in technology as an enabler, from his college days, where he played a crucial role in various technical events. He was a Google Summer of Code fellow in 2009, was semi-finalist in Google Online Marketing Challenge 2009 and runner-up in International Online Hacking Challenge organized by IIT Kanpur. After college, he worked with various teams and build technology products from grounds-up. With solar industry, he realized that he can have the maximum impact of his software knowledge in making the world a better place.

The Innovative abode

“Creativity and Innovation are two important pillars on which the whole organization is based. I would rather say they are two sides of the same coin. From day-one, our focus is on realizing everyone in the team that they are free to think of creative ideas and shouldn’t be afraid of it. Everyone is praised for their creative, original ideas and also encouraged to try radical approaches. We don’t have a culture of managers and subordinates, everyone is given a leadership role for the feature they develop and all other team mates, review it. With open-feedback loop, we have seen that people take most sensible decisions, and the rate of innovation also increases,” pinpoints Ritu.

The firm has served various clients over the years such as Sun Edison, OWM Solar, Indian Oil, Terra Form, Refex Energy are to name a few. “Customers love to be heard, they want to know that their problem is taken seriously, so the right amount of communication is the key to a successful and long term relationship. Akshya Power encourages everyone in the team to talk to the customers, not just the customer relationship team. That helps our engineers to understand the user problems and since they are the ones who have worked on the features, they can have the quickest answer to any customer query,” elaborates Shree Kant.

Akshya Power has also been awarded as ‘Solar IT Company of the year 2019’ at India Solar Week 2019 for the innovative solutions for solar industry. The firm was also runner-up in RIICO startup challenge organized by the Rajasthan Government. “Focusing on the customer’s pain point and doing all the grunt work for them in monitoring is one of the key-factors behind our success. When other companies are busy building on buzz-words and sharing shiny presentations, we directly tell our customers how much we can save them by doing things which matters most for them and that clicks with our most satisfying customers till date. Also, our competitive and flexible pricing as well as the on-field service is something we are proud of and it has contributed most to our success so far.”

The Future Ahead

Solar Industry’s future is bright in India and everywhere, the dynamics may change with time, but the core-strength will always be there. Monitoring and Reporting is integral to the success of the solar industry. “In the future, we may see new technology, new protocol and even new medium to monitor. With a strong base in technology, we are confident that we can adapt to and even lead the way to the future of monitoring in India and the world. We would like to be the de-facto name and standard in the monitoring and reporting, which everyone in the industry will follow,” concludes Shree Kant.

Sterlite Power Provides bespoke solutions to solve complex problems for power sector

Sterlite Power : is one of the most critical components of infrastructure crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure is essential for sustained growth of the Indian economy.

India’s power sector is one of the most diversified in the world. Electricity demand in the country has increased rapidly and is expected to rise further in the years to come. In order to meet the increasing demand for electricity in the country, massive addition to the installed generating capacity is required. Sterlite Power is a leading global developer of power transmission infrastructure empowering humanity by addressing the toughest challenges of energy delivery. “We are at the forefront of energy transmission, with talent and technology coming together to create lasting social impact. Sterlite Power believes that electricity access transforms societies and delivers long lasting social impact, and access to reliable power should be a fundamental right. This vision has shaped our journey right from inception and today we are a leading integrated power transmission developer and solutions provider, operating in India and Brazil,” says Pratik Agarwal, Group CEO, Sterlite Power.

The firm offers has four key Business Units: Global Infrastructure, Solutions, Convergence, and management of Infrastructure Investment Trust. “Our Global Infra business is a leading developer of power transmission infrastructure in India and Brazil. The Solutions business unit addresses the increasing energy demand due to urbanization and has been a pioneer in the specialized EPC segment through unique upgrade and uprate projects across the country. We export industry-leading power conductors, EHV cables and OPGW conductors to organizations in more than 40 countries around the world. The company’s Convergence business aims to utilize existing power transmission assets to bring robust internet connectivity to rural and urban parts of the country. This business segment serves all the top Telcos in India today. And lastly, we were the first to sponsor India’s only power transmission InvIT called IndiGrid to allow large scale capital infusion into the sector,” adds Pratik.

Expert in the Industry

Pratik Agarwal, is the Group CEO of Sterlite Power. He has held this position since June 2016; previously he was the vice-chairman of Sterlite Grid, and also Director of the Infrastructure business for the Vedanta Group. He is a Wharton graduate and an MBA from London Business School with over 10 years of experience in building core infrastructure assets in India. He founded the Group’s infrastructure business in 2009 and built it up to levels where it now has significant investments in ports, power transmission and broadband networks. He is also the Chairman of the Electric Power Transmission Association and Transmission Task Force of FICCI. Pratik is a thought leader in the power sector and an ET 40 under 40 awardees.

Keeping a pace with the change

Sterlite Power is a leading integrated power transmission developer and solutions provider globally, focused on addressing complex challenges in the sector around time, space and capital. The company is divided into for business verticals – Infrastructure, Solutions, Convergence and Investment Management.

“Our core focus lies in our Global Infrastructure Business where we bid, design, construct, own and operate power transmission assets across multiple geographies. Given our expertise in project execution and our experience in leveraging cutting-edge technology, we have built a track record of commissioning projects ahead of schedule, addressing the key constraint of time. We help to meet the industry’s need for capital by being at the forefront of financial innovation via IndiGrid, India’s first power sector Infrastructure Investment Trust (InvIT). Urbanization, environment regulations and Right of Way (ROW) issues create a space constraint for power transmission projects. We differentiate ourselves as the only player in this sector which successfully addresses all the three key constraints of time, space and capital,” pinpoints Pratik.

Sterlite Power has accomplished many projects over the years. One of the recent projects is the Kashmir – NRSS XXIX project that is considered as one of the largest private sector transmission project commissioned in the country till date was dedicated to the nation by Honorable Prime Minister of India, Mr. Narendra Modi. “We have also instituted world-class processes and practices to ensure safety for all our workers, contractors, employees and community at large and have recently been awarded with first International ROSPA Gold Award in Safety for excellent track
Record in occupational health & safety management systems and high level of compliance with control measure. Sterlite Power is the first organization in the transmission sector to be awarded ISO 45001:2018 certification for quality, health & safety.”

The firm strongly believe that innovation and sustainability walk together, and implemented strategically can lead to competitive advantage for businesses. From use of heavy & medium lift helicopters to in-house capability for UAV technology and LIDAR surveillance activities, Sterlite have time-and-again innovated aviation technology for the delivering the best. This has not only led the company to conquer challenging terrains but also has enabled to bring out precision in construction. The Power Transmission have also been a part of many firsts- from designing and constructing a vertical substation to addressing the challenge of space to reconductoring of 66KV transmission line in live line conditions in Bangalore.

At Sterlite Power, the working environment fosters openness, transparency, accessibility and collaboration through a open door culture which is evident from the office design and layout. There is a non-hierarchical culture and everybody is allowed to speak their mind. Leaders create an environment in which their team members feel comfortable sharing their opinions and perspectives. The culture is fast-paced, ambitious, empowering, achievement-oriented and purposeful. “We aim to ensure complete alignment with our core purpose of “Empowering Humanity by Addressing the Toughest Challenges of Energy Delivery”, and with our core values of Innovation, Respect, Social
Impact and Fun,” elaborates Pratik

“Sterlite Power leverages new technology across every phase of a project and never shy away from challenging the status quo and innovate. The firm is excited to work with the best and most innovative partners in the industry, forging long term symbiotic relationships. We take our processes very seriously and have done exceptionally well in the areas of project management as well as front creation. However, we are firm believers that safety comes first.”

The firm with a confident outlook aspires to increase its revenue and clients in the years to come. “Over the years, we have differentiated ourselves as innovators and leveraged people, process & technology to our advantage. Today the Sterlite Power group has four distinct business units with global presence. Our Global Infra Business unit has operations in both India and abroad with 24 projects, and capex commitment of more than $5 billion,” concluded Pratik.

Impact of Union Budget on Non-Banking Finance Companies

Non-Banking Finance Companies address to the different financial needs of bank excluded customers. They present innovative financial services to Micro, Small, and Medium Enterprises (MSMEs) according to their business necessities. NBFCs provide a fillip to transportation, job generation, wealth creation, bank credit in rural sections to assist financially weaker sections of the community. Some of the emergency services given by NBFCs include financial assistance and guidance in the matters pertaining to insurance.

Recently Nirmala Sitharaman announced Union Budget 2019-20. In this budget, she has given great focus on Non-banking financial companies. She said that the government will lend a helping hand to top-rated entities in order to alleviate the ongoing burden on India’s non-banking finance companies

The Economic Survey has released just a day before the Budget, this survey has shown that Non-Banking Finance Companies faced severe liquidity crunch as mutual funds stopped refinancing the loans of NBFCs. The survey warned that if the impact of stress in the NBFC sector spills over to this year as well, it may lead to lower credit off take from NBFCs, which may depress an increase in consumption spending.

“Non-banking financial companies play a significant role in the capital generation, and the government will provide a one-time partial credit guarantee to PSBs to obtain high-rated pooled assets of financially sound NBFCs,” she added.

Presently, NBFCs are efficiently driving the market in nurturing consumption demand and capital formation in the small and medium industrial segment. The goal of new implementations related to Non-banking Financial Corporation is to endorse these corporations to receive regular funding from banks and mutual funds without being unduly risk-averse. As per the provision, the government will grant a partial guarantee of 1 lack crore to state-run banks for acquiring consolidated high-rated pooled assets of financially-established Non-Banking Finance Companies. This will incorporate their first loss of up to 10 percent. The ultimate goal of this financial assistance is to enhance liquidity access for the sector.

Under the budget, Sitharaman also proposed permitting investments made by foreign institutional and portfolio investors in debt securities issued by Infrastructure Debt Fund-NBFC to be transferred or sold to any domestic investor within the specified lock-in period. Moreover many new rules and changes have been brought in this budget specifically for NBFCs; few of them are given below:

The government has allowed interest on certain bad or doubtful debts to be taxed in the year in which the interest is actually received to handle important NBFCs systemically like banks.
Debenture Redemption Reserve (DRR), which is practiced to build funds in public issues and is applicable for only public sector banks will also make available for Non-banking Finance Corporations. This decision will allow all NBFCs, even those not registered as NBFCs-Factor, to directly participate on the TReDS platform.
This Budget reinforces the crucial role that Non-Banking Finance Companies and HFCs play in credit delivery. This capitalization advance for banks, credit guarantee for high rated asset pools and easing of the reserve elements in public issue of debentures will further permit the course of liquidity to grow NBFCs having strong balance sheets.
Now, foreign institutional investors and foreign portfolio investors got permission to invest in debt securities by the shadow banks. This will allow the NBFC sector to raise more funds and fight with the liquidity crunch.
The proposal to let FIIs and FPIs invest in debt securities issued by NBFC would provide the required boost of capital to a sector now starving of capital; an important prop to several sectors, particularly, real estate and automobile, which are reeling for lack of finance to buyers.

Impact of Budget on RBI and NBFCs

Apart from different modifications and innovations, the budget has also made changes in the regulatory body of NBFCs. Reserve Bank of India (RBI) is the regulating body for NBFCs, and few decisions are taken to strengthen its authority over the sector.

The amendments proposed to the RBI Act 1934 holds the powers relating to resolution of Non-Banking Finance Companies. As per the amendments, RBI can draft schemes for amalgamation, reconstruction or splitting up of the viable and nonviable businesses of the NBFC to assure the continuance of critical activities. The regulator may also establish “bridge institutions” that is a temporary arrangement to facilitate the progression of Non-Banking Finance Companies business.

With the new rule, RBI will get the power to remove a director of an Non-Banking Finance Companies, excluding those controlled by the Indian government. All NBFCs, mainly housing finance companies are facing cash crunch since the IL&FS debt crisis in September 2019. The crisis has badly impacted the business growth of these companies. It is expected that the supervision of RBI will bring better opportunities for housing finance companies.

Apart from numerous advantages, the new budget has also come up with some burden. After this new rule and regulations, NBFCs that do the public placement of debt need to maintain a DRR and besides a special reserve as needed by the RBI, has also to be maintained.

Read about:- LATEST TRENDS IN THE NBFC THAT YOU MUST KNOW

Latest Trends in the NBFC that You Must Know

Non-banking finance companies or NBFCs have played an amazing role in making credit reach to the last-mile borrowers. Now, the sector is focusing on the adoption of new technology and innovation in order to simplify the entire process so that the consumption demand of the country can be met efficiently. And, that is why, in the last few years, the Non-banking finance companies sector has witnessed a huge surge of a technological revolution. With the increasing innovation and development in the NBFC sector, advanced technological trends are catching the pace. Also, as the different industries are advancing their process, it is even more important that Non-banking finance companies bring in technology to boost their growth. It is like an investment that will surely pay off in a big way.

To keep up with the current market environment, here we are throwing some light on the latest digital trends of the NBFC sector.

Artificial intelligence

Artificial Intelligence is completely based on the concept that machines can work in better ways on behalf of a human. In the contemporary world, a lot of Indian Non-banking finance companies are harnessing the power of AI in their day-to-day operations.

Chief Technology Officer of SBFC India Pvt Ltd, Deepak Mudalgikar, says, “While being true to our tagline i.e. ‘loans made easy’, we focus to simplify our processes both for our employees and stakeholders by using analytics, AI, machine learning and various other tools.

Biometrics

Biometric-based authentication is one of the best innovations of modern industry. Through this technology, an individual is identified by evaluating one or more of his unique biological traits like fingerprints, voice waves, or retina and iris patterns. These characteristics recognize individuals from an entire population according to their intrinsic physical or behavioral traits. It is the best solution for the customer’s KYC authentication.

These modalities have numerous benefits like non-repudiation, not transferable, not guessable and also provide a very high level of protection against fraud. The technology is implemented in diverse real-life applications and is being used in the financing industry also.

Blockchain

Data says that 80 percent of the effort related to KYC is dedicated to information gathering and processing, and only 20 percent to assessing and monitoring that information for critical insights. It is a tiresome process and involves repetitive questioning and long processing times and all in all creates a frustrating experience. That is why the service providers are looking for a new and innovative solution to the identity problem that they get in the form of Blockchain.

Blockchain solution handles the entire process of KYC. It makes data available on a decentralized network and hence makes it accessible by third parties directly after permission is granted. The new KYC system offers better data security by making it sure that data access is only made after confirmation or permission is received from the relevant authority, removing all unauthorized accesses.

Chatbots & Robo-Advisors

Presently, the use of Chatbots & Robo-Advisors is greatly increasing. They are being used in different industry verticals, and NBFC is not an exception. Most of theNon-banking finance companies are utilizing chatbots and robot-advisors for interactions with customers for self-on boarding of the customer, customer servicing and employee-related services.

The unique thing about chatbots and robot-advisors are that they hold vernacular capabilities, which make them perfect for rural and semi-urban India. Today, because these chatbots and robot-advisors, the whole process of taking different financial services by masses is streamline.

Cognitive Computing

Cognitive Computing is a wide concept; it includes an application of techniques like machine learning, predictive analytics and speech recognition and more. Cognitive computing plays a key role in actualizing the process. Brian Krzanich, the CEO of Intel, says that “cognitive computing is based on the ability of machines to sense, reason, and act and adapts based on learned experience.”

Social Profiling Score

KYC is used once to assess the credit-worthiness of an individual. Present-day, because of a culture of promoting a holistic view of a prospective customer and assessing his ability to service a loan, things have come down to the level that now besides LinkedIn and Facebook posts, even the orders history of food delivery application is being taken into account by many NBFCs players for evaluating the credit-worthiness of customers.

Apart for making use of the info provided by the borrower, in order to assess customers’ creditworthiness, the advanced technology is used to match the data with whatever is available in public domain, like on the Ministry of Corporate Affairs (MCA) and GST portal, then cross-verify this using the social media profiling of the borrower. This provides service providers with a complete picture of the customer.

Bottom Line

In nutshell, after considering the futuristic technologies driving the growth of NBFCs and gaining further currency across the financial ecosystem of the country, the sector looks headed towards a brighter phase in the years to come.

Read about:- NBFC: COMPLETE GUIDANCE ON IMITATING NBFC IN INDIA

NBFC: Complete Guidance on Imitating NBFC in India

NBFC in India is the most popular and common terms who want to initiate a finance or lending business. While in India they are doing well, there is a growing interest in the country to register new companies. In the last few years, the incorporation procedure of NBFC under companies has have been simplified, and it can be registered with MCA without the prior approval from RBI. After establishment, you need to approach RBI office for Cor. You can begin any lending business in India without a Valid NBFC license from RBI. The Registration procedure of NBFC begins with name approval of the purposed company. Ensure that in Inc-1 the ultimate goal of your corporation is financing.

Types of NBFC Registration in India

One can register an NBFC in India in 90 to 120 Working days and begin finance business. New NBFC registration is highly prescribed over the NBFC takeover. NBFC registration holds a few processes; the process start with the State of Capital test and Business Planning, there after Profile Assessment, submit experience in finance, go through the Eligibility test of Business and Public interest concern of the Regulator. When you pass altogether, Cor may be issued by the Department of Non-Banking Regulation.

In India, Section 45-IA of the RBI Act of 1934 rules the NBFC registration, and companies are registered as per the rules, provision, and regulations of these sections. The registration is categorized into two types – nature of the activity and the other is on deposits

Types of NBFC companies as per the nature of activity

Mortgage Guarantee Company
Asset Finance Company
Core Investment Company
Microfinance Company
Housing Finance Company
Investment Company
Loan Company
Infrastructure Finance Company

On the basis of deposits

Companies eligible to accept deposits
Companies not eligible to accept deposits

Registration Process of NBFC

Go through the RBI’s website www.rbi.org.in.

File here an online application

After the submission, you would receive a reference number to help inquiry in the future

Now, submit the photocopies of your business documents to the concerned regional office of RBI as a hardcopy.

The regional office will verify your documents. And, after verification, the regional office will transfer the application for NBFC registration to the central office.

If you satisfy all the all prescribed things in the section 45-IA, of its act of 1934, the central office of RBI grants the NBFC registration

The RBI regulates and oversees NBFC Registration in India. If any unincorporated thing or an NBFC without authorization to gain deposit is found receiving public deposits, it is subject for criminal action.

Eligibility Criteria

Basic criteria are for NBFC registration is as follow:

Your corporation needs to be registered in India as Pvt. Ltd. or Ltd. Company.
Your company must hold a minimum Net Owned Fund of Rs.200 lakhs. Here, the Net Owned Funds are calculated on the basis of the last audited balance sheet of the Company.
Important Documents for NBFC Registration
Certified Copy of Registration Certificate
Submit updated KYC & Income proof of Directors and Shareholders of the company
Net worth Certificate
Collect updated net worth certificate of Directors, Shareholders, and Company head
Clean Banker Report
Proof of Education Qualification
Credit report of Directors and shareholders
Experience in the financial sector
Present the profiles of Directors with 10+ years’ experience in the financial field
Submit the complete detailed plan about your loan products, fair practice code, credit, and risk assessment policy of your company
Provide organizations structure and decision-making process

Registration Fees

To register as NBFC, you should hold minimum capital of Rs. 2 cr; therefore, you need to register the company with the prescribed capital and the requisite government fees

Who does not Require NBFC Registration?

Here, there are several types of companies who do not need NBFC license to operate. The list is mentioned below:

Housing Finance Companies: It is regulated by the National Housing Bank.

Insurance Companies: Insurance Regulatory and Development Authority of India (IRDA) controls all insurance companies.

Stock Broking: Stock Broking is managed by Securities and Exchange Board of India.

Merchant Banking Companies: When it comes to Merchant Banking Companies, they are functioning under the Securities and Exchange Board of India.

Venture Capital Companies: Securities and Exchange Board of India regulates all Venture Capital Companies.

Companies with Collective Investment Schemes: They are regulated by the Securities and Exchange Board of India.

Mutual Funds: Mutual Funds work under the control of Securities and Exchange Board of India.

Nidhi Companies: They are regulated by the MCA.

Bottom Line

The pathway of building the business of an NBFC is neither too comfortable nor very difficult. The government has come with much leverage to promote NBFC Registration at the present time. Although, a few regulations are essential in order to ensure smooth functioning of the financial system of the country.

Read about:- ZOMATO ACQUIRES UBER EATS FOOD DELIVERY BUSINESS IN INDIA

Olety Finance: Experts in providing best in class Loans with end to end solution

Non-Bank Financial Institutions (NBFIs) play a significant role in meeting the diverse financial needs of various sectors of an economy and thus contribute to the economic development of the country as well as to the deepening of the country’s financial system. As the development process proceeds, NBFIs become prominent alongside the banking sector. Both play significant roles in influencing and mobilizing savings for investment. However, they are also complementary to each other as each can develop its own niche, and thus may venture into an area where the other may not, which ultimately strengthens the financial mobility of both. Established in the year 1996, Olety Finance is a well known brand in Bangalore specialized in NBFC providing loans on Pre-owned Two Wheelers & Used Car Loans, using simple underwriting policy and able to sanction loans to customers with bare minimum documentation, entire processing time in one day.

“We were one of the first NBFC providing loans for used two wheeler in the industry. The firm also provides customer to buy certified used two wheeler from its own Olety Two wheeler & car dealership, which buys and sells two wheeler and cars under one roof. So we can proudly say we were the First NBFC with captive funding model providing customers an option to buy two wheeler & get Loan from the same company, first of its kind in the industry in early 1996,” says Kumaran Sampath, CEO, Olety Finance.

The Pillars behind the screen

Mr Santosh Olety is the Founder and Chairman of Olety finance, pioneer in pre owned two wheelers & cars in Karnataka, founded in the year 1993. During the first year of operations, Olety Finance achieved a milestone sales of about 120 two wheelers per month from its Sajjan Rao Road outlet, which had given enough confidence to scale up the business by having more number of branches across Bangalore. During the year 1996, the second branch was inaugurated in V.V. Puram and in 1998 the third one in Diagonal Road with a display capacity of 100 two wheelers each.

In the year 1996, Olety diversified into financial services by launching Olety Finance a Non-Banking Financial Company [NBFC] and also a travel division as a forward integration to its two wheeler business. Mr. Santosh has an overall experience in the automobile industry for 26 years and has gained excellent technical expertise & created a brand for himself and today Olety is a house hold name in Bangalore.

Kumaran Sampath is the Director & CEO of Olety Finance. He joined the company in the year 2018. A pioneer in lending business and worked with various corporate finance companies at Senior Management level, a Retail Banker with more than 23 years of experience specialized in retail loans covering all kinds of loan products from Car Loans, SME, Mortgages, CV & CE, and Inventory funding. He also worked at leadership roles in 20th Century Finance Corporation, General Motor Finance, Kotak Mahindra Prime & Reliance Capital Ltd. Kumaran managed retail Loans across all functions and geographies in India for nearly a decade handling, Business, Credit, Product, Leasing & Collections at Area, Regional, Zonal & National Level. He has joined the board with his expertise in consumer retail lending across geographies and taking business forward and spread across the country and makes it a Pan India player. He leads the vision of the company to be first choice of customers in Pre Owned Two Wheeler & Used Car Loans. Being an experienced speaker on Retail Loans, Policy & Procedures relating to NBFC’s Kumaran is also a Certified Speaker on public speaking from Dale Carnegie Intuition. Further Kumaran was a National Trainer at Reliance Capital and awarded with various National Award at leadership roles in Sales, Marketing, and CRM & Cross Selling from General Motors Acceptance Corporation ( GMAC ), Kotak Mahindra Prime & Reliance Capital Ltd. A regular marathon runner Kumaran, completed National Marathon Circuit 2017-18 conducted by NEB sports, a pan india running event for amateur runners and Procam Slam in 2018-19 conducted by Procam International, a prestigious competition for Amateur runners and first of its kinds in India.

Olety Cars had a path breaking Agreement with M/s Mysore Sales International Ltd (MSIL) a state government organization. A state Government organization venturing into a private used car dealer was a tremendous achievement of Olety Group. Inventory Funding / Credit lines with MSIL, this was a path breaking relationship with MSIL, a state government run organization providing limit to the Olety group was a great recognition for the brand and business model built over 2 decades in the market. Excellence Award in the recently held 8th MINE India 2019 – Microfinance & NBFC conference at Chennai for continues contribution in support retail vehicle loans for over 24 years.

“The NBFC acquire customer in view to retain him for life, our credit process is customer centric and not majorly depended on financial centric, we analysis customer to customer so that their needs are addressed rather having a fixed policy which cannot fit all the potential customer segments in our financial sector. Olety Finance help customer to indentify quality vehicles under our group company so the sense of belief is built which helps customer to prefer loans through our own NBFC more over we offer multiple loan options pre-approved if their repayment track remains clean and this we communicate to customer during our first loan disbursement so that customer recalls and come back to us for multiple loans,” elaborates Kumaran.

Olety Finance has a very sociable organization with a highly experienced team. “We are building our company with senior level corporate resources who have vast & experienced back ground from top bank & finance companies. We are a people friendly organization, empower employees, ease up employee policy, provide quality training, helping employees to learn new techniques on sourcing new business & develop selling skills as per market changes. We have a robust employee & customer policies so in all we are an employee & customer friendly corporate organization,” added Kumaran.

The firm with an optimistic outlook aspires to increase its clients and revenue in the years to come. Olety Finance also aims to spread its wings geographically pan India. “NBFC is also called shadow banking in our sector so it’s critical for Govt in ensuring this sector grows as faster as possible to be in the line with economic growth of the country. With new stable Govt at centre and RBI taking lot of measure to support NBFC liquidity requirement, we are certain & confident in raising capital smoothly to build our biz,” concludes Kumaran.