Latest news with #CholamandalamInvestmentandFinanceCompanyLimited
The Hindu
09-07-2025
- Sport
- The Hindu
Chola Chess launched in Chennai
After he won the Uzchess Cup Masters by the end of last month, R. Praggnanandhaa became the World No. 4 (Elo 2779) in the live ratings and is consequently the highest-ranked Indian now. It was his third title of the year, after wins at the Tata Steel Chess Tournament in Wijk aan Zee and the Superbet Chess Classic in Bucharest. The latter was his maiden Grand Chess Tour (GCT) title. 'This year has been good for me so far. And I hope it continues. We (him and his coach R.B. Ramesh) made some changes in my game, for sure. I think that's showing the results. Last year, things didn't go my way. Ramesh and I, we were working, trying to find things to change. And we made some changes. I think those were critical,' said the 19-year-old at the launch of Chola Chess, a CSR initiative from the Cholamandalam Investment and Finance Company Limited, in collaboration with Chess Gurukul, on Wednesday. Praggnanandhaa, who's atop the FIDE Circuit leaderboard now, was wary that the other players might catch up and stressed the importance of finishing as the leader to qualify for the Candidates. 'So, he was joint-first in four tournaments, out of which he didn't win one. He won the other three. But joint-first in four is already a great start. He's having a sensational year overall. I think, for him, this year is a reaction to missing out on (winning) the Candidates last year. He's got that extra motivation,' said Indian chess legend and five-time World champion Viswanathan Anand. When asked about World No. 1 Magnus Carlsen's recent jibes at reigning World champion D. Gukesh, Anand said: 'They come with the territory. You cannot expect to be World champion and say people will just be nice to me. You have to just face that.'
Hans India
09-07-2025
- Business
- Hans India
Chola Initiative Intends to Catch the Talent Young
In a landmark move to strengthen India's chess ecosystem and invest in the next generation of champions, Cholamandalam Investment and Finance Company Limited (Chola) is set to launch Chola Chess, a CSR initiative aimed at identifying and nurturing young chess talent across the country. The official unveiling will take place today (July 9, 2025) at the Chola Chess Centre in Chennai, with Grandmaster Viswanathan Anand to deliver the keynote address. In collaboration with Chess Gurukul, the initiative seeks to provide a structured platform for early-stage talent development, particularly among children showing promise at the grassroots level. The event will also feature exhibition matches between top Indian Grandmasters, including R Praggnanandhaa, Aravindh Chidambaram, Pranesh, and Karthikeyan Murali. At the heart of the Chola Chess programme is a simple but powerful idea: to catch the talent young and guide it with the best available resources. The platform, led by Grandmaster RB Ramesh, will combine elite mentorship, strategic training, and mental conditioning to help young players develop both on and off the board. Unlike conventional coaching models, Chola Chess is envisioned as a comprehensive ecosystem — not just focusing on game tactics but also on long-term growth, performance analytics, and tournament preparedness. A standout feature of the initiative will be its hybrid delivery model: the to-be launched digital platform will ensure players from across the country, including rural areas, can access high-quality mentorship regardless of geography. 'With Chola Chess, we are building an ecosystem where discipline, resilience, and strategic thinking are nurtured from a young age,' said GM RB Ramesh, Chief Mentor. 'This platform will help shape not just champions, but also confident, thinking individuals.' India is currently witnessing an unprecedented wave of chess enthusiasm, with young prodigies achieving global recognition and chess being increasingly included in school curricula and educational programmes. However, access to elite mentorship and structured training remains a privilege for only a few. Chola Chess enters the scene at a time when the need for inclusive and high-quality chess infrastructure has never been more urgent. The programme promises to bridge critical gaps — particularly for underrepresented and financially constrained talent — and provide a level playing field for serious learners nationwide. Furthermore, in an evolving CSR landscape, the initiative stands out for its focus on measurable, long-term outcomes. Rather than a short-term engagement, Chola Chess represents a sustained commitment to youth development, using chess as a vehicle for teaching focus, strategy, and critical life skills. Launch Event Details The launch event will take place on July 9, 2025, in Chennai and will be livestreamed on Cholamandalam's official YouTube channel. Attendance is by invitation only, with limited guests, but viewers across India can join online to witness the official unveiling, live matches, and thought leadership from some of India's most respected chess minds.
New Indian Express
28-06-2025
- Business
- New Indian Express
Consumer panel bars loan recovery from widow, penalises firm for insurance lapse
TIRUNELVELI: Tirunelveli District Consumer Disputes Redressal Commission on Thursday ordered a finance company not to collect a loan of Rs 15 lakh borrowed by the complainant's deceased husband and cancelled the memorandum of deposit of title deed (MOD). The commission imposed a penalty of Rs 1 lakh on the company -- Cholamandalam Investment and Finance Company Limited -- for erroneously obtaining a loan protection life insurance in the name of the spouse and insisting that she repay the loan. The complainant, J Prema (55), was the co-borrower of the loan, obtained by her husband, Jayaraman of Puthukudiyiruppu, from the Valliyoor branch of the finance company on June 30, 2024. Jayaraman had pledged his plot with a building and the company received Rs 5,607 from Jayaraman to insure the mortgaged property through the Chola Griha Raksha Policy and Rs 1,06,935 for a life insurance policy from ICICI Prudential Life Insurance Company Limited. However, on November 10, 2024, Jayaraman died and Prema informed the branch manager about her husband's demise. Though initially the manager agreed to settle the loan through the insurance claim, he later informed her that the policy had been mistakenly taken in her name and insisted that she repay the loan. Neither the branch manager nor the company's senior manager responded to the notice issued by Prema's advocate, J Jebasingh, who later brought the case before the commission. Cancelling the MOD, the commission ruled, "Prema or any legal heir of the deceased borrower is not liable to pay anything to the opposite parties for the loan obtained by Jayaraman." It added, "The company is liable to pay Rs 1 lakh as compensation for mental strain, mental agony, deficiency in service and unfair trade practice, and Rs 10,000 as cost to the complainant. If the compensation is not paid within a month, the company shall pay 9% interest per annum."
