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Time of India
a day ago
- Business
- Time of India
Wealthtech startup Centricity onboards 30 private bankers to boost UHNI push
Gurugram-based wealthtech startup Centricity has hired 30 senior private bankers to scale its ultra-high-net-worth individual (UHNI) vertical as it looks to expand beyond metros and strengthen its presence in smaller bankers, who have previously worked with institutions such as UBS, Barclays, Kotak, and ICICI Securities, will operate under Centricity's Invictus platform, catering to UHNIs and single-family offices. They will manage over 135 clients with portfolios above Rs 100 crore each, while in tier II and III cities, the minimum requirement is Rs 50 firm also plans to double its private banking team by the end of the current fiscal year. While its existing team covers Maharashtra, Gujarat, Goa, Karnataka, and Punjab, the new hires will focus on Delhi-NCR, Rajasthan, Uttar Pradesh, West Bengal, Chhattisgarh, Andhra Pradesh, and by Manu Awasthy, Centricity operates two platforms. The 'Centricity platform' serves financial product distributors (FPDs) by providing access to products from over 100 asset management companies (AMCs) and a mix of digital tools and human support. Its Invictus vertical offers personalised investment management, including portfolio analytics, reporting, and insights for UHNIs and single-family Centricity manages assets of more than Rs 10,000 crore and raised $20 million in a funding round led by Lightspeed India Partners in September 2024 at a valuation of $125 million. The startup currently operates 80 branches across 70 cities.'We are optimistic that Invictus will contribute approximately 50% to our overall business by FY26 and our target of Rs 50,000 crore in AUM growth in the next three years,' said Awasthy, founder and CEO of development comes as India's wealth management sector faces intensified competition in the UHNI space, with incumbent firms competing with new-age startups like Centricity that combine technology with experienced bankers to tap the expanding affluent base.'The company offers a differentiated approach that combines technology, deep advisory expertise, and a strong distribution network to deliver outcomes. Specifically, through Invictus, the newly added private bankers with an average of over 20 years of experience in their respective geographies will offer distinctive client understanding and local insights,' said Shvetank Mishra, chief business officer, Invictus.
Time of India
12-07-2025
- Time of India
100+ phones lost in Noida autos & buses find their way home
Noida: About 100 smartphones that were reported lost were traced and returned to their owners by the Noida Police (Central) surveillance cell and Phase 2 Police. The operation was conducted over one year, and the team was awarded Rs 25,000 for their efforts. Noida (central) DCP Shakti Mohan Awasthy said police commissioner Laxmi Singh had instructed the zone's police to find phones that were reported lost or stolen over the last year. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida Under the supervision of DCP Awasthy and additional DCP Hridesh Kathariya, a team was formed to trace the lost phones through International Mobile Equipment Identity (IMEI) number tracking and surveillance. IMEI is a unique serial number that identifies a mobile phone or any other cellular device. Central Equipment Identity Register (CEIR) portal, a govt platform operated by the department of telecommunication, monitors stolen mobile phones using their IMEI numbers. In May, TOI reported that more than 50 lakh mobile phone details have been registered nationwide on the CEIR portal since May 16, 2023. Of these, 31 lakh devices have been blocked and 19 lakh located. The actual recovery of mobile phones, however, lags at just 4.22 lakh across the country. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo In Uttar Pradesh, according to the portal, a total of 1.7 lakh devices were blocked and 1.1 lakh handsets were traced. Police have so far successfully retrieved 27,537 devices. In Delhi, 7.7 lakh phones were blocked and 4.6 lakh mobile phones were located. Police have so far recovered 8,951. However, in this case, the majority of these phones weren't stolen, but misplaced. DCP Awasthy said some had reportedly fallen off their owners' pockets in crowded areas, some got left behind in autos, e-rickshaws, taxis, buses and metros, while a few fell off motorcycles. Some daily wage labourers had lost their phones at worksites.
Economic Times
21-05-2025
- Business
- Economic Times
Sustainable shipping in India is becoming more closely linked to economic competitiveness: Johnson Controls' Arun Awasthy
iStock The country's increasing focus on sustainability, energy efficiency, and digitalisation positioned India as a strategic growth market for Johnson Controls, considering the scale of infrastructure expansion The maritime sector is a major source of carbon emissions globally. As a part of its efforts to limit emissions, the Indian government is implementing various measures to promote environmental sustainability and the advancement of its maritime sector. However, the real benefit of sustainable shipping will be realised when Indian ports and fleets are seen globally as not just larger but smarter and lower-risk partners, said Arun Awasthy, President & Managing Director, Johnson Controls India. He emphasised this point while acknowledging India's maritime initiatives, which range from green hydrogen hubs to shore-power mandates. In the Union Budget 2025, the Indian government has proposed to set up a Maritime Development Fund with a corpus of Rs 25,000 crore. Through this fund, the government aims to encourage green investments and sustainability in the shipping and maritime infrastructure. In addition, the Ministry of Ports, Shipping, and Waterways has prioritised the decarbonisation of the shipping sector through initiatives like the Green Tug Transition Program and Harit Nauka (Green Vessel). Johnson Controls India, the local arm of Ireland-based sustainable infrastructure firm Johnson Controls, has been working with the Indian shipping industry to promote long-term sustainability and energy efficiency. 'Johnson Controls' focus is on enabling that outcome through technologies that support efficiency, safety, and compliance without compromising the operational realities the sector faces,' Awasthy country's increasing focus on sustainability, energy efficiency, and digitalisation positioned India as a strategic growth market for Johnson Controls, considering the scale of infrastructure expansion. 'We are investing in expanding our local capabilities, both in engineering expertise and service support, to deliver faster, more agile responses to customer needs. At the same time, we are introducing more advanced technologies in building automation, HVAC efficiency, fire and life safety, and security solutions that align with global best practices and India's regulatory and sustainability priorities. We are also closely collaborating with government and private stakeholders to support large-scale initiatives aimed at modernising critical infrastructure with a future-ready approach,' he emphasised that sustainable shipping in India is increasingly tied to economic competitiveness, not just environmental goals. With global trade corridors shifting and carbon border taxes like the EU's Carbon Border Adjustment Mechanism coming into play, ports that can demonstrate lower emissions will have a strategic advantage. He pointed out that the government's initiatives, such as the Sagarmala Programme and the establishment of the National Centre of Excellence in Green Ports and Shipping (NCoEGPS), underscore its commitment to port-led development and environmental stewardship. However, the path to sustainable shipping requires a nuanced approach that balances environmental goals with economic and operational realities.'While India's maritime industry is growing, a significant portion of its fleet consists of older vessels, often ill-equipped to meet emerging environmental standards. Retrofitting these vessels for sustainability, through technologies like alternative fuel engines or energy-efficient systems, requires considerable financial investment, which can be difficult to justify given the long payback periods often associated with such transitions. Moreover, the requisite infrastructure, such as bunkering facilities for low-carbon fuels, is not yet widespread, further hindering the industry's shift toward greener practices,' he added that regulatory alignment with global sustainability standards, particularly the decarbonisation goals set by the International Maritime Organisation, presents another challenge.'The gap between policy and practice remains, particularly in incentivising private sector participation and accelerating the development of green shipping infrastructure. Navigating this regulatory complexity is essential for creating an ecosystem that fosters long-term sustainability and innovation,' he the same time, India's maritime sector operates within a volatile global trade environment, where geopolitical dynamics influence shipping routes, fuel availability, and operational costs, he said. These factors complicate efforts to transition to a sustainable shipping model, especially when the global supply chain is disrupted, as seen with recent geopolitical tensions.'In this context, India must strike a delicate balance between domestic economic growth, environmental responsibility, and global competitiveness,' he Controls has contributed to the Indian Navy's aircraft carrier INS Vikrant. Johnson Controls India, in collaboration with our UK-based navy systems team, was responsible for designing and installing the complete HVAC system onboard, Awasthy said. 'The scale and complexity of the project were immense, equivalent to outfitting seven frigates simultaneously, involving over 320 tonnes of ducting across nine fire zones. Our system ensures optimal temperatures for over 1,700 crew members and for critical electronics, aircraft systems, and pilot gear. We also integrated smoke extraction, ventilation, and zonal control panels with the ship's Integrated Platform Management System (IPMS) to enable real-time control and fault response, vital for operational resilience during wartime,' he mentioned that beyond INS Vikrant, the company has supported other key Indian naval assets, including the Teg-class frigates, ASW corvettes, and Project 17 and 28 vessels, Johnson Controls has supported marine engineering projects, such as COSCO's $1.6 billion FPSO vessel for the North Sea.
Time of India
21-05-2025
- Business
- Time of India
Sustainable shipping in India is becoming more closely linked to economic competitiveness: Johnson Controls' Arun Awasthy
The maritime sector is a major source of carbon emissions globally. As a part of its efforts to limit emissions, the Indian government is implementing various measures to promote environmental sustainability and the advancement of its maritime sector. However, the real benefit of sustainable shipping will be realised when Indian ports and fleets are seen globally as not just larger but smarter and lower-risk partners, said Arun Awasthy , President & Managing Director, Johnson Controls India. He emphasised this point while acknowledging India's maritime initiatives, which range from green hydrogen hubs to shore-power mandates. In the Union Budget 2025, the Indian government has proposed to set up a Maritime Development Fund with a corpus of Rs 25,000 crore. Through this fund, the government aims to encourage green investments and sustainability in the shipping and maritime infrastructure. In addition, the Ministry of Ports, Shipping, and Waterways has prioritised the decarbonisation of the shipping sector through initiatives like the Green Tug Transition Program and Harit Nauka (Green Vessel). Johnson Controls India, the local arm of Ireland-based sustainable infrastructure firm Johnson Controls, has been working with the Indian shipping industry to promote long-term sustainability and energy efficiency. 'Johnson Controls' focus is on enabling that outcome through technologies that support efficiency, safety, and compliance without compromising the operational realities the sector faces,' Awasthy said. The country's increasing focus on sustainability, energy efficiency, and digitalisation positioned India as a strategic growth market for Johnson Controls, considering the scale of infrastructure expansion. 'We are investing in expanding our local capabilities, both in engineering expertise and service support, to deliver faster, more agile responses to customer needs. At the same time, we are introducing more advanced technologies in building automation, HVAC efficiency, fire and life safety, and security solutions that align with global best practices and India's regulatory and sustainability priorities. We are also closely collaborating with government and private stakeholders to support large-scale initiatives aimed at modernising critical infrastructure with a future-ready approach,' he said. Awasthy emphasised that sustainable shipping in India is increasingly tied to economic competitiveness, not just environmental goals. With global trade corridors shifting and carbon border taxes like the EU's Carbon Border Adjustment Mechanism coming into play, ports that can demonstrate lower emissions will have a strategic advantage. Live Events He pointed out that the government's initiatives, such as the Sagarmala Programme and the establishment of the National Centre of Excellence in Green Ports and Shipping (NCoEGPS), underscore its commitment to port-led development and environmental stewardship. However, the path to sustainable shipping requires a nuanced approach that balances environmental goals with economic and operational realities. 'While India's maritime industry is growing, a significant portion of its fleet consists of older vessels, often ill-equipped to meet emerging environmental standards. Retrofitting these vessels for sustainability, through technologies like alternative fuel engines or energy-efficient systems, requires considerable financial investment, which can be difficult to justify given the long payback periods often associated with such transitions. Moreover, the requisite infrastructure, such as bunkering facilities for low-carbon fuels, is not yet widespread, further hindering the industry's shift toward greener practices,' he said. He added that regulatory alignment with global sustainability standards, particularly the decarbonisation goals set by the International Maritime Organisation, presents another challenge. 'The gap between policy and practice remains, particularly in incentivising private sector participation and accelerating the development of green shipping infrastructure. Navigating this regulatory complexity is essential for creating an ecosystem that fosters long-term sustainability and innovation,' he said. At the same time, India's maritime sector operates within a volatile global trade environment, where geopolitical dynamics influence shipping routes, fuel availability, and operational costs, he said. These factors complicate efforts to transition to a sustainable shipping model, especially when the global supply chain is disrupted, as seen with recent geopolitical tensions. 'In this context, India must strike a delicate balance between domestic economic growth, environmental responsibility, and global competitiveness,' he said. Johnson Controls has contributed to the Indian Navy's aircraft carrier INS Vikrant. Johnson Controls India, in collaboration with our UK-based navy systems team, was responsible for designing and installing the complete HVAC system onboard, Awasthy said. 'The scale and complexity of the project were immense, equivalent to outfitting seven frigates simultaneously, involving over 320 tonnes of ducting across nine fire zones. Our system ensures optimal temperatures for over 1,700 crew members and for critical electronics, aircraft systems, and pilot gear. We also integrated smoke extraction, ventilation, and zonal control panels with the ship's Integrated Platform Management System (IPMS) to enable real-time control and fault response, vital for operational resilience during wartime,' he said. Awasthy mentioned that beyond INS Vikrant, the company has supported other key Indian naval assets, including the Teg-class frigates, ASW corvettes, and Project 17 and 28 vessels, etc. Globally, Johnson Controls has supported marine engineering projects, such as COSCO's $1.6 billion FPSO vessel for the North Sea.
