Kotak Mahindra Bank has announced a grant of Rs 9 crore to be awarded to 60 startups based in smaller cities as part of its corporate social responsibility initiative, the Kotak Bizlabs Accelerator Programme. This is the second edition of the program, which provided a grant of Rs 5 crore to 32 startups in its first season. The grant aims to support and promote entrepreneurship in smaller cities, and the selected startups will receive funding to help them grow and develop their businesses.
In other news, Mahavir Lunawat, the founder-chairman of Pantomath Capital Advisors, has been re-elected as the chairman of the Association of Investment Bankers of India (AIBI) for a two-year term. Lunawat will be joined by Abhijit Vaidya of Kotak Investment Banking and Lakha Nair of Axis Capital, who will serve as vice-chairpersons. The AIBI is a professional organization that represents the interests of investment bankers in India, and Lunawat’s re-election is seen as a vote of confidence in his leadership.
Meanwhile, Bollywood actor Amitabh Bachchan has purchased three plots of land near the coastal town of Alibag in Maharashtra for a total of over Rs 6.6 crore. The plots, which are part of the HOABL Landbuild project, cumulatively measure 9,500 sq ft. The purchase was reported by data analytics firm CRE Matrix, which tracks real estate transactions. Bachchan’s investment in the plots is seen as a sign of the growing demand for luxury properties in the Alibag region, which is known for its scenic beaches and tranquil atmosphere.
These announcements highlight the ongoing activities in the business and entertainment sectors in India. Kotak Mahindra Bank’s grant to startups demonstrates its commitment to promoting entrepreneurship and supporting small businesses, while Mahavir Lunawat’s re-election as AIBI chairman reflects the organization’s confidence in his leadership. Amitabh Bachchan’s purchase of plots in Alibag, on the other hand, underscores the growing interest in luxury properties in the region. Overall, these developments suggest a positive outlook for the Indian economy and a growing appetite for investment and entrepreneurship.