Institutions like HBTU should inculcate spirit of innovation and entrepreneurship in their students: President Kovind

Institutions like HBTU should inculcate spirit of innovation and entrepreneurship in their students, said the President of India, Shri Ram Nath Kovind. He was addressing the centenary celebrations of the Harcourt Butler Technical University in Kanpur today (November 25, 2021). 

The President said that HBTU has been recognized for its contribution in the fields of oil, paint, plastic and food technologies. The glorious history of this institution is linked to the industrial development taking place in India since the beginning of the 20th century. The technology and human resources provided by HBTU has been instrumental behind the fame of Kanpur as ‘Manchester of the East’, ‘Leather City of the World’ and ‘Industrial Hub’.

 The President said that when HBTU is celebrating its centenary, the country is celebrating Azadi Ka Amrit Mahotsav to commemorate 75 years of independence. And in the year 2047, when the country will be celebrating the centenary of independence, HBTU will be completing its 125 years. Pointing to the current ranking of HBTU in the National Institutional Ranking Framework (NIRF) which is at 166th, the President said that it should be the endeavor of all stakeholders of HBTU that by the year 2047, this university should be ranked among the top 25 institutes of the country. He emphasized that to achieve this goal they have to work with determination. He was confident that all stakeholders would make every effort to take HBTU and the country to new heights.

 Emphasizing on the need of innovation and technology development in India, the President said that only those countries in the world remain in the forefront, which give priority to innovation and new technology and continuously enable their citizens to face the challenges of the future. Our country has also increased its credibility in the field of technology but we still have a long way to go. In this context, the role of institutions like HBTU becomes important. He said that our technical institutions should inculcate spirit of innovation and entrepreneurship in their students. Students should be provided such an environment from the very beginning in which they can contribute to the development of the country by becoming a ‘job giver’ instead of a ‘job seeker’.

 Pointing to the low participation of girl students in technical education, the President said that he had attended convocations of many educational institutions across the country where he observed that the performance of girls was very impressive. But in the field of technical education participation of girl students is not satisfactory. He said that today the need of the hour is to encourage more and more girls to come forward in the field of technical education. It would boost women empowerment. 

Referring to the Swachh Survekshan Awards 2021 held in New Delhi last Saturday, the President noted that in the Swachh Survekshan among the urban bodies of the country, Kanpur city jumped to 21st place in 2021 from 173rd in 2016. He said that he knew people of Kanpur.  If they decide to do something, they achieve it. He urged them to make the goal of cleanliness of the city a mass movement. He expressed confidence that Administration and Municipal Corporation of Kanpur would take inspiration from Indore city, which is consistently ranked first in the country in cleanliness, and make efforts to rank Kanpur in the five cleanest cities of the country.

Please click here to see the President’s speech in Hindi. 



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Institutions maintain ‘buy’ rating as Yeahka (09923.HK) records fast growth

Institutions from China and abroad, including Citi, CLSA, Daiwa, China Securities, Zhongtai International and Guosheng Securities, have maintained “Buy” rating for Yeahka (09923.HK), underscoring their confidence with the prospects of the company’s technology-enable business services. Yeahka, which has payment as its other major business, has achieved rapid growth in the first half of 2021, according to its interim results announced on Aug 26.

Citi views Yeahka’s strategy stable fee rate and revenue sharing trend to boost merchants base “as largely in line with overall industry outlook”, and believes “that continued investment to acquire traffic and investment in business (such as in-store ecommerce services) will make more meaningful contribution in the longer term leveraging Yeahka’s solid execution”.

A CLSA report expects Yeahka’s GPV continues to increase, while the technology-enabled business achieving fast growth. “The company also started to provide in-store e-commerce services in Dec 2020, business that is upgraded from marketing services, to provide closer connection between merchants and consumers, and to create direct sales growth for merchants. Revenue was Rmb44.9m in 1H21, with the number of paid consumers more than 1.42m and GMV exceeded Rmb71.0m,” the report noted. It expects the new business to “serve as a new engine for growth”.

Guosheng Securities expects Yeahka’s annual revenues from precision marketing, merchants SaaS product, and in-store ecommerce service to reach 2.8 billion, 4.2 billion and 7.2 billion RMB in the next three years, while net profit attributable to parent company reaching 476 million, 517 million and 1.039 billion RMB. This estimation, based on Yeahka’s closing price of 27 HKD on Aug 25, gives the company PE ratio from 2021-2023 at 39, 36, and 18 times.

Guosheng sees the company benefit from acquisition of Chuangzinzhong, and efforts in online advertising service, as both agent and producer. With access to media platforms including TikTok, Toutiao, and Kuaishou, the services will promise more users to Yeahka’s marketing service.

Guosheng also sees Juhuisaosao, Yuehuiquan and Haoshengyi, of Fushi, as gateways for Yeakha to introduce its other products. That will help boost the company’s merchant SaaS users, as well as bringing high rise to ARPU.

“We stay confident with the long-term prospect of the company’s payment and technology-enabled business services,” Zhongtai International holds a similar view, noting Yeahka’s businesses are closely inter-connected.

Yeahka would first boost its merchant base through payment services. As more transactions happen, Yeahka would then get deeper understanding of merchants’ activities, and, through this process, accumulate a massive data of user trend. Based on data analyses, it would then offer different VAS to make monetization possible, and further expanding its business to achieve continued growth, Zhongtai further elaborates.

Topic: Press release summary

IBM and SAP to Help Financial Institutions Accelerate Cloud Adoption to Modernize Operations in a Secured Environment

IBM (NYSE: IBM) and SAP SE (NYSE: SAP) today announced that SAP intends to onboard two of SAP’s finance and data management solutions to IBM Cloud for Financial Services to help accelerate IBM cloud adoption within the financial services industry.

The collaboration will be designed to help the companies address the industry’s stringent compliance, security and resiliency requirements, while supporting business transformation and innovation for financial services institutions.

As banks and insurers balance the need to deliver innovative services and meeting the industry’s strict security and compliance requirements, hybrid cloud environments have become increasingly important. To fuel industry-wide innovation, IBM introduced the IBM Cloud for Financial Services with built-in security and compliance controls that help reduce risk and regulatory barriers impeding IT landscape modernization, transformation and innovation.

IBM Cloud for Financial Services offers a highly secured, purpose-built environment for financial services institutions to transact with their technology partners and FinTechs. By onboarding to the IBM Cloud for Financial Services, clients can adopt migrated SAP offerings, while addressing their regulatory and compliance standards. Supported by a growing ecosystem of more than 100 partners and FinTechs, the cloud platform is designed to speed customers’ business transformations by both addressing risk in the supply chain for financial institutions and unlocking new revenue opportunities.

In the context of their ongoing global strategic partnership, IBM and SAP have helped hundreds of companies digitalize their operations using an open, hybrid cloud approach. SAP intends to join IBM’s ecosystem to deliver finance risk, operations and total spend management offerings on the IBM Cloud for Financial Services. The companies intend to help financial institutions benefit from faster business transformation through industry-specific data value offerings and enhanced customer and employee experiences.

“The rapid transition of regulated industries, such as financial services, toward the cloud makes it necessary to address new operational and technology challenges,” said Bob Cummings, head of SAP Financial Services Sector. “The combination of IBM Cloud and SAP’s capabilities can help banks and insurers around the world to accelerate their digitalization journey and scale their business globally.”

“As we continue to add partners, such as SAP, to our growing ecosystem, we’re one step closer to driving a true change in cloud adoption for the industry to ultimately help reduce risk throughout the supply chain,” said Joel Spieth, General Manager, IBM Cloud for Industries. “We’re helping financial institutions modernize with SAP solutions on IBM Cloud for Financial Services, driving innovation, and creating operational efficiencies.”

When onboarded, SAP’s offerings that can now be delivered on the IBM Cloud for Financial Services will provide financial services institutions, their partners and FinTechs with the following:

  • SAP’s intelligent suite, including SAP S/4HANA solutions: With its intelligent enterprise framework, SAP provides integrated applications, intelligent technologies and a digital platform designed to enable banks to better serve current customers.
  • SAP’s solutions for strategic data management, including SAP Adaptive Server Enterprise, and SAP IQ software: Combining the strength of in-memory technology with these solutions, SAP offers a robust data platform to achieve business agility.

SAP and IBM together have hundreds of clients and more than 5,500 individual products. SAP and IBM are focused on helping enterprises modernize their businesses and making the most of cutting-edge technologies.

For more information on IBM Cloud for Financial Services, visit

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About SAP

SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit

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