Customer Experience (CX) Technology Sets A New Baseline But Still Struggles To Satisfy Many, Finds NTT’s Latest CX Research

* Percentage of organizations with board-level CX accountability more than doubles in 12 months

* 38% of consumers say that CX systems improved during the pandemic – but 52% experience CX failures due to limited technology

* The share of CX workloads handled via automation is expected to rise from 32% now to 51% in twelve months’ time

NTT Ltd. today releases the 2021 edition of the Global Customer Experience Benchmarking Report (GCXBR), its highly influential annual survey assessing the global state of play for CX. Now in its 24th year, the latest GCXBR arrives at an important juncture to help organizations calibrate their rapid adoption of CX technology, revealing a significant gap in perceptions between organizations and consumers.

This year, NTT interviewed 1,359 professionals across 34 global markets and 14 different sectors. For the first time, the research also included a voice of the customer (VoC) survey, supplementing evidence from professionals with opinion from aconsumer panel of 1,402 respondents.

Resounding positive signs for CX

In the context of a disrupted CX environment, responsibility for CX has been elevated to a significantly more senior level and confidence in CX has followed suit:

75% of organizations now have ultimate accountability for CX held at the board level, up from 35% in 2020

The rate of organizations with ‘well advanced’ or ‘complete’ CX strategies has more than doubled to 71%, up from 28% in 2020

The rate of organizations reporting being ‘very satisfied’ with their CX has risen to 45%, up from 10% in 2020

Organizations now expect that the majority of CX will be automated in twelve months’ time, with workloads handled by AI and robotics rising to 51% from 32% today, and over a fifth of interviewees reported that their use of AI or robotics is delivering beyond expectations.

Keeping track of consumer perception

The positive outlook from the industrywas only partially echoed by the new VoC survey, however. Encouragingly,87% are happy to continue using digital channels at the increased levels triggered by the pandemic,while 38% said that the quality of automated CX systems had improved over the course of the pandemic.

In other areas, the research found warning signs about the amount of progress yet to be made to fully meet consumer expectations:

52% of consumers report digital channels failing them due to limited capabilities or services

44% experience failures due to digital channels misunderstanding their queries

Just 35% say they are ‘very satisfied’ with automated CX solutions

Withforecastsfor next year showing high rates of organizationsexpecting to have implemented voice-activated AI assistants (52%), robotic process automation (48%), web-based AI assistants (45%), and other new technologies, these developmentshold a lot of potential for businesses to differentiate themselves by more effectively solving customers’challenges.

“The addition of VoC data this year has shone a spotlight on a really interesting situation,” comments Rob Allman, Vice President, Customer Experience, NTT Ltd. “It’s allowed us to spot a – potentially growing – disparity between how businesses assess their own performance and how consumers perceive CX. The fruition of new technology in the CX space is exciting, but the ultimate focus always needs to be on people.”

The need for the human touch

When asked about human-led support, 94% of CX decision-makers agreed that it remains critical– but less than half agreed that they have the technology in place to fully support remote CX employees. Meanwhile, 38% in the VoC panel stated that their biggest reason for avoiding digital channels is that they would rather speak to a human.

“Of course, technology has always augmented human capabilities”, concludes Allman. “This year, the key message of the GCXBR is to empower customers and employees through the use of data and AI-driven technology. People need to be at the center of any CX strategy, with technology in the service of superior customer and employee experiences that create value.”

Further details of the research, together with an in-depth analysis and recommendations for industry, can be found in the 2021 Global Customer Experience Benchmarking Report.

About NTT Ltd.

NTT Ltd. is a leading global technology services company. Working with organizations around the world, we achieve business outcomes through intelligent technology solutions. For us, intelligent means data driven, connected, digital and secure. Our global assets and integrated ICT stack capabilities provide unique offerings in cloud-enabling networking, hybrid cloud, data centers, digital transformation, client experience, workplace and cybersecurity. As a global ICT provider, we employ more than 40,000 people in a diverse and dynamic workplace that spans 57 countries, trading in 73 countries and delivering services in over 200 countries and regions. Together we enable the connected future.

Hero MotoCorp Announces ‘Ride For Real Heroes’ – An Initiative To Honour The Frontline Healthcare Warriors

Keeping up its relentless efforts towards supporting COVID-19 relief measures, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced an iconic global ride ‘Ride for Real Heroes’ to honour the frontline healthcare warriors across the world.

The riders participating in ‘Ride for Real Heroes’ will distribute Covid-19 safety kits to the healthcare workers including doctors and medical personnel in 100 cities and towns across the world. The Covid-19 kit consists of essential health and hygiene supplies such as N95 masks, personal protective kits, sanitisers, gloves, IR thermometers.

Scheduled to be flagged off on October 2, 2021, ‘Ride for Real Heroes’ is being organised across 100 cities in India, Bangladesh, Nepal, Guatemala, Colombia, Bolivia, Nigeria, Uganda, Kenya, South Africa, Turkey and UAE among others, where the participants will ride for 100 kilometres in each city.

To be a part of this iconic event Ride for Real Heroes, customers of Glamour, XPulse 200, and Xtreme can register on https://rideforrealheroes.com/.   The last date to register is September 29, 2021.

Commenting on the occasion, Naveen Chauhan, Head – Sales and Aftersales, Hero MotoCorp said, “As a responsible corporate citizen, Hero MotoCorp remains committed to contributing to the betterment and well-being of society. To honour the frontline healthcare workers across the world, we are delighted to announce one iconic ride – ‘Ride for Real Heroes’.  The riders participating in the ride will be distributing Covid-19 safety kits across 100 cities is in keeping with our ongoing efforts to support the medical infrastructure in the country. For this noble cause, we encourage more participants from more cities to come forward and be a part of our 100Kms, 100 Cities, 100 Rides initiative.”

Ride for Real Heroes is to mark the historic milestone of Hero MotoCorp surpassing 100 million units in cumulative production – one of the fastest global achievements by an automotive company on January 21, 2021.

For more information, visit website www.rideforrealheroes.com

HERO MOTOCORP’S COVID-19 RELIEF EFFORTS –

·         Hero MotoCorp distributed over 2.3 million nutritious meals to the needy daily wage workers, homeless families and communities.

·         More than 34,000 ration kits 37,201 litres of sanitizers, 4.4 million facemasks, and more than 44,000 PPE kits have also been distributed across the country in an effort to help and support the communities during this time of need.

·         To ensure that urgent medical assistance is provided in rural and remote areas, 60 specially designed First Responder Vehicles (FRV) built on the Hero Xtreme-200R motorcycle were delivered to the government organizations and health authorities cross the country.

·         In a focused effort towards strengthening the medical infrastructure in India, Hero MotoCorp has been supporting more than 1900 Covid-beds in several hospitals across the country.

·         Hero MotoCorp has initiated a Covid-19 vaccination drives in various districts, ensuring the safety and wellbeing of the communities including specially-abled people.

·         Provided its motorcycles and scooters for safe, personal commuting by health workers and medical staff.

IIHM Students Celebrate The ‘Bounce Back’ Of Tourism, Hospitality Industry On World Tourism Day With Cuisines, Performances

Tourism, in 2021, has a whole new meaning as the world gradually opens up after the pandemic. It aims to bring into its fold all those who are directly and indirectly benefitted from this industry. That is why the theme for World Tourism Day 2021 is ‘Tourism for Inclusive Growth”.

The International Institute of Hotel Management (IIHM) in collaboration with India Tourism Karnataka, Ministry of Tourism, SKAL and Young SKAL Bangalore Chapter, celebrated World Tourism Day on 25th Sept 2021 highlighting this year’s theme of “Tourism for inclusive Growth”.  The program was inaugurated by Mr Mohamed Farouk, Director, India Tourism Karnataka, Ministry of Tourism and Mr Anurag Gupta, Director, SKAL International Bangalore.

The celebration was in response to the UNWTO’s call to the world to celebrate tourism, an industry that has the power to ensure that nobody is left behind as the world opens up again after the pandemic. The theme matches with IIHM’s belief of “bounce back” and the institute is gearing up to celebrate the occasion.

A cultural programme was organised by the students of IIHM based on cultural diversity that explores the opportunities of promoting tourism. Complementing the cultural backdrop, the decor team displayed an array of indigenous handicrafts from some important tourist destinations in India. They showcased items like spears and shields from Nagaland, hats or topics from Himachal Pradesh, the popular wind chimes, catchers and bells from Tibet, bamboo bags and dolls from Manipur, Channapatna toys and dolls from Karnataka, masks from Coorg and many other interesting items.

The Culinary team at IIHM Bangalore took guests to the roots of Manipur and Tibetan cuisine through indigenous and traditional food of the two regions. Singju, a typical Manipuri salad that has its origin in the Meitei/meetei community of Manipur was on the menu along with the ubiquitous momo, a steamed dish that originates from the Kathmandu Valley in Nepal. It was later introduced in Tibet when a Nepali princess married a Tibetan king in the 15th century.

Another specialty item on the menu was the ChakhaoAmubiwhich is a type of sticky black rice that is indigenous to Manipur. ‘Chakho’ means delicious and ‘Amubi’ means black. In Manipur it is generally served on special occasions and festive events. The rice is cooked to make porridge, kheer, Chinese black cake and many other dishes.

The beverage team created some cooling mocktails to showcase the culture of Karnataka and Tibet respectively. The first is called the ‘Kasha yaya’ that is inspired by Kashaya, an Ayurvedic drink that is used to cure fever and flu. The second beverage called The Dragon Breath, it is made with dragon fruit, a neutral flavoured and coloured fruit mixed with sour passion fruit, refreshing cucumber and a touch of sugary sweetness.

The World Tourism Day is a celebration of “bounce back to tourism and hospitality Management” for the Students of IIHM who are back in college and are curating the event under the leadership of Sanchari Chowdhury, Director, Bangalore campus and her team.

Dr Suborno Bose, Chairman and Chief Mentor of IIHM said, “It feels wonderful to see the students of IIHM Bangalore back on campus. The World Tourism Day celebrations are an expression of how IIHM is inspiring and encouraging the hospitality sector to bounce back after almost two years of slow movement because of the pandemic. Things are reviving and we believe that this liaison between hospitality and tourism is going to work wonders for both industries across the world.”

Toyota Kirloskar Motor Employees Help Build e-library For Visually Impaired Students

In furtherance of its mission to enable its employees to make a difference to society, Toyota Kirloskar Motor (TKM) today organized a virtual audiobook recording event in collaboration with Samarthanam Trust , an award-winning NGO, which works for the empowerment of the differently abled.

More than over 100 TKM volunteering employees and their family members lent their voices to record more than 100 language books as audiobooks that will be made available to over 10,000 visually impaired students supported by the Samarthanam Trust across the country. The virtual activity was held through an e-enabled platform as part of ‘ICARE’, an employee voluntary initiative, which aligns with the TKM’s commitment to sustained community development. 

Talking about the initiative , Mr. Sudeep S. Dalvi, Senior Vice President, Director & Chief Communication Officer, TKM, said, “The activity served the dual purpose of sensitizing our employees to visual disability and provide them with an opportunity to build a repository of audiobooks, considering very little published material is accessible to those with visual impairment. We are hopeful that the efforts will play a role in helping visually impaired students to explore books that were so far out of bounds for them. Further, we are delighted with the enthusiastic participation by our employees and their families, a trend we have seen for all ICARE activities since we introduced the voluntary initiative a few years ago. As a responsible corporate citizen, TKM will continue to implement more such employee-led activities to address the vital needs of different communities within our CSR framework.”

Since its launch in 2017, ICARE has grown manifold and managed to create a substantial impact on society, touching 57,000 lives. Currently, 1000 employees are registered under ICARE, and all activities are implemented with the objective to further support and make a difference to the society while being aligned to TKM’s CSR vision in the areas of education, environment, health & hygiene, road safety, skill development and disaster management thereby providing an enriching experience to employees. The platform enables passionate employees’ who believe in volunteering their personal time for  social causes.

On the occasion, TKM employee volunteers also took a COVID pledge promising to remain safe and healthy during the pandemic.

TEDxManipal To Host Its First Virtual Edition Of TED Circles On Sept 26

TEDxManipal is delighted to host its first edition of TED Circles, an exclusive virtual event, for which only selected candidates will get the opportunity to participate in enlightening discussions on this month’s captivating theme - “Imagination”. The event is scheduled for the 26th of September 2021, at 6 PM IST.

TED Circles is an open community of small groups that engage in conversations about big ideas. At a TED Circle event, participants watch a selected TED talk based on a monthly theme and share their key takeaways from the talk.

Through this fascinating concept, the organizing team aims to create a platform for the diverse student-based community at Manipal Academy of Higher Education (MAHE) to reflect, interact and connect on riveting ideas. Hosting a TED Circle event at the university town would give students from diverse fields of medicine, business, and engineering, an opportunity to exchange ideas on thought-provoking TED talks.

The faculty mentor Dr. Raghu Radhakrishnan, Director of International Collaborations, deems it an honour to be advising the team of TEDxManipal, led by Kashish Miglani and Vani Mittal who are third year undergraduate students at Manipal Institute of Technology. The special virtual event will be co-hosted and facilitated by team members - Sidesh Das, Khushi Prasad, Vaidehi Patel, Swakshi Agrawal, Kashish Miglani, Vani Mittal and Khushi Agarwal.

TED Circles will inspire individuals to broaden their existing knowledge on a myriad of topics through healthy dialogue and discussion and uphold the spirit of TED, focusing on the power of ideas.

YES BANK Announces Partnership With Visa To Issue Credit Cards

* Nine credit card variants enabled on Visa payment network

* Card offerings packed with rewards and privileges

YES BANK announced its partnership with Visa to offer credit cards to its customers on the payment platform. With the partnership, the Bank commences issuance of select credit card variants, consumer as well as commercial, on Visa’s payment network – the transition has been achieved within a record time of less than 60 days, ensuring ease for customers across segments.

The suite consists of nine credit card variants on the Visa platform that service all segments – consumer cards, business cards, and corporate cards across YES First, YES Premia and YES Prosperity.

The Visa co-branded cards are loaded with attractive loyalty programs, under which reward points never expire and can also be shared or transferred to YES BANK Credit Card holders. Other benefits include attractive foreign currency markup and a bouquet of lifestyle privileges including airport lounge access and golf course privileges*. The Bank is also in the process of completing technology integration with NPCI and plans to issue Rupay branded Credit Cards in due course.

Commenting on the launch, Rajanish Prabhu, Head – Credit Cards and Merchant Acquisition, YES BANK, said, “Our partnership with Visa adds a new dimension to the Bank’s sustained efforts in transforming and elevating end-to-end credit journeys for our customers. With Visa’s payment and security system, our customers will continue to enjoy uninterrupted ease while using YES BANK Credit Cards.”

Sujai Raina, Head – Business Development, India, Visa, said, “We are delighted to partner with YES BANK to launch an expansive suite of Visa solutions for their customers. At a time when consumers are turning to credit offerings for daily as well as discretionary spends, we are now extending an already strong relationship with the Bank - across debit, digital and acceptance solutions - to a wide range of credit offerings. Keeping in mind the varied consumers, businesses and corporate clients that the Bank caters to, Visa aims to help expand access and enable inclusion to digital payments across these segments.”

*Lounge and Golf benefits are available only on select cards

About YES BANK

YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.

YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

MeitY Startup Hub And AWS Collaborate To Support Startup Growth And Innovation In India

The MeitY Startup Hub, an initiative of the Ministry of Electronics and IT (MeitY) has entered into a Memorandum of Understanding (MoU) with Amazon Internet Services Private Ltd. (AISPL), which undertakes the resale and marketing of Amazon Web Services (AWS) Cloud services in India, to promote technology innovation and the sustainable growth of startups in India.

As part of this new collaboration, MeitY Startup Hub and AWS will work together to identify startups with deep technology capabilities, and enable and empower them to build impactful solutions to address the biggest problems facing society in India. Through the AWS Startup Ramp program, startups will gain access to AWS Credits, a community of experts, technical training and support covering cloud architecture, cost optimization, security, and scalability readiness.

The MeitY Startup Hub will facilitate and organise government-backed innovation challenges to help startups focused on the public sector scale their solutions. Additionally, the collaboration will mobilise startups, and the community of incubators and accelerators to curate and run startup acceleration programs with AWS.

Initially the collaboration will focus on startups addressing healthcare, agriculture, public safety, transportation, smart cities and citizen engagement. Identified startups will be able to leverage AWS’s depth and breadth of services in cloud, Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), data analytics and security, among others.

“MeitY Startup Hub is excited to collaborate with AWS to help startups to further accelerate, scale, and build innovative solutions. Mentoring, technical expertise, cloud credits, skill enhancement programming, and other resources provided under this collaboration will be of significant value for startups. We look forward to a productive engagement with AWS, with a vision to create both grassroots momentum and tangible impact,” said Mr. Jeet Vijay, CEO, MeitY Startup Hub.

“The combination of India’s scale, its thriving technology community, and public sector willingness to adopt new technologies to address challenges in society, is a great opportunity for startups to create impactful innovations. MeitY’s focused efforts supporting startups operating in social impact areas and building a collaborative innovation ecosystem is commendable, and we are proud to collaborate with the MeitY Startup Hub towards this goal,” said Mr. Rahul Sharma, President, Public Sector – AISPL, AWS India and South Asia.

Startups who are focused in the public sector and interested to learn more can visit the AWS Startup Ramp program web page.

Advanced Technology-Based MEGHDOOT Atmospheric Water Generator Plant Inaugurated At Jawaharlal Nehru Planetarium

Advanced Technology-Based MEGHDOOT AWG Plant Inaugurated At Jawaharlal Nehru Planetarium. The AWG provides pure drinking water sourced from the atmosphere.

When drinking water is at a premium or scarce, Atmospheric Water generators (AWG)s are a step forward to meet the growing demands. Many cities and towns in India and the world are water-stressed due to a drop in groundwater availability or contaminated groundwater. The water generated by AWGs is pure and healthy for any situation.

The AWG at the JNP was inaugurated by Dr. T K Alex, Hon. Distinguished Professor ISRO, AntarikshBhavan, Bengaluru with Shri. PravinShirse, Country President India and Managing Director, and Shri M R K Karanth, AVP – Segment Components (Unit Head), Bengaluru Centre, OerlikonBalzers Coating India Pvt. Ltd.Rtn. Fazal Mahmood, District Governor RID 3190 and Shri. Pramod G Galgali, Director, Jawaharlal Nehru Planetarium were the Guests of Honor.

The AWG project is the brainchild of ATFSC, a Section 8, not-for-profit organization, and JNP to introduce advanced and sustainable technology for sourcing drinking water to visitors and mainly students who visit the planetarium.

JNP started in 1989, has emerged as a premier institution in India. It attracts over 3 lakh visitors annually, the majority of whom are students, who come to participate in stargazing, watch science movies, sky-theatre shows and view astronomical events.

The objective of this project is to bring to the fore sustainable technologies. Reports state that at any given point the Earth’s atmosphere consists of 37.5 Million-Billion Gallons of water vapor and this can be tapped into for sourcing drinking water. Source: https://wxguys.ssec.wisc.edu/

The AWG technology will be useful in various applications like Government & Private Schools and Colleges, Government & Private Hospitals, Defense Establishments, Railway Stations, Off-shore platforms and vessels, Wildlife Sanctuaries, Residential Apartments and Gated Communities, Bottled Water Plants, Natural Disaster Relief Camps, Pharmaceutical Industries, Hotels, Clubs, Shopping Malls and, Tech Parks & Office Complexes.

It is estimated that over 76 million people in India have no access to drinking water and technologies like AWG are ideal to bridge the gap.

Knowledge Partner

ATFSC Foundationisan Authorised Partner of MaithriAquatech, makers of the Meghdoot range of AWGs.MaithriAcquatech is an ESG Company recognized by the Indian Ministry of Water, the Ministry of Jal Shakti, and also recognized by the Telangana Government. They are dedicated to providing innovative solutions to solve Water Availability and Contamination.

Implementation Partner

Rotary Bangalore Whitefield Centralis responsible for implementing the AWG Plant at the JNP.

Equipment Sponsor

OerlikonBalzerPvt.Ltd. has provided financial aid for the project. OerlikonBalzerPvt.Ltd is the world’s leading provider of surface technologies.

Jawaharlal Nehru Planetarium headed by Shri Pramod G Galgali has been instrumental in initiating the thought process of adapting and implementing the sustainable technology.

Ecovate Tech LLP is an Authorised Partner of MaithriAquatech. Ecovate Tech is a visionary organization with a mission to make a difference to one of the most critical environmental issues predominantly in the developing world - Sustainable Solutions for Drinking Water.

Tata Motors Celebrates 10,000 EV Customers Across Indian Market

* These early adopters have led the green mobility wave in India 

Tata Motors, one of India’s leading automobile manufacturers, today recorded a remarkable feat of on-boarding its 10,000th EV customer. Leading the electric vehicle segment, this new milestone signifies a growing number of delighted customers of a Tata EV.  The first 10,000 EVs have been led by the early adopters and with this encouragement Tata Motors has built a viable roadmap for the future and is committed to staying on course with making EVs mainstream.

On achieving the 10K rollout milestone, Mr. Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors said, “The achievement of 10,000 EVs on road is a strong testament to how our innovative electric vehicles are resonating well with customers. We are proud to have lived up to the high expectations of the early EV adopters and are thankful to them for their continued trust in the brand. These customers have laid a strong foundation for EV ownership to further expand and have created a path for other prospective buyers to follow.”

With over 70% market share (YTD FY22), Tata Motors has crossed the 1000 unit volume in August’21 and with a strong order book, the company’s vision of creating a sustainable future in the automobile industry is being recognized and appreciated by all customers. Tata Motors is driving this shift of green mobility with the help of other Tata Group companies including Tata Power, Tata Chemicals, Tata Autocomp, Tata Motors Finance, and Croma through an expansive e-mobility ecosystem – The Tata UniEVerse. Tata Power’s ramp up of the charging infrastructure with 700 plus installations in 120 cities across India furthers the commitment of sustainability and modernization.

Powered by Tata Motors’ state-of-the-art Ziptron technology which is at the heart of the company’s passenger EV line-up, Tata Motors launched the Nexon EV in January 2020, and recently launched its second EV in the personal segment, the new Tigor EV, which comes with a GNCAP 4-star rating for adult and child occupant protection and boasts of an extended ARAI certified range of 306 kms (under standard testing conditions).  The company has also launched the XPRES T electric sedan, its first product under the XPRES brand, exclusively for fleet customers, to create a new benchmark for urban shared and commercial mobility.  

Raymond Capitalizes On Casualization Trend In Shirting Fashion

* Launches Vibez AW’21 collection of shirting fabrics – a mélange of vibrant prints imbibing traditional Indian motifs -

* Onboards designer Suket Dhir to seamlessly translate the vivacious fabrics into stylised silhouettes-

Raymond, India’s leading manufacturer and retailer of premium fabrics and apparel announced the launch of its latest vibrant collection of shirting fabrics - ‘Vibez’. Being a popular menswear brand in India, Raymond has on-boarded famed designer Suket Dhir. Suket’s work has been recognized by one of the most prestigious honours in global fashion and he has crafted an exclusive collection of ensembles for the launch of Raymond Vibez.

Raymond Vibez, a vibrant range of shirting fabrics, gains inspiration from nostalgic Indian motifs and seamlessly combines them with highly contemporary aesthetics and boldly experiments with colour palettes. The collection consists of 7 distinctive prints - Watercolour Washes, Swirling Paisley, Bold Abstract, Tie-n-Dye, Checkerboard, Deep with Indigo, and Tribal Prints.

Commenting on the launch of the Vibez collection, S. Ganesh Kumar, COO, Raymond Lifestyle Business said; “As lives return back to normalcy, consumers are seeking a refreshing perspective on casualization and are increasingly experimenting with fashion sensibilities. Revamping a wardrobe can be a big mood enhancer that can uplift spirits to revel in the upcoming festive season. The launch of Vibez is apt in the current context wherein people are looking forward to shop with optimism.” Along with a wide assortment of unique prints, the collection offers a diverse colour palette for customers to choose from. The trendy and versatile prints can be tailored into multiple looks for several occasions – be it a casual hangout with friends, a clubbing night, or the long awaited road trip.

Speaking during the launch Suket Dhir said; “It was good to see Raymond come up with ‘VIBEZ’. Our interpretation for it is multi-utilitarian, versatile, cool and trendy. How clothing can change the entire atmosphere around the person wearing it, is well documented. We have played around with the fabrics in a classic SUKETDHIR style. The colours and patterns are such that it expresses the vibe or the mood of the wearer. A collection that is perfect to brighten up a gloomy winter day, and the combination of linens and corduroys to keep the cool breeze out and cool quotient in.”

The Vibez Collection is available across different fabrics such as cotton, Linen and various blends, starting at Rs. 850 onwards, per meter, across all fabric blends, and Rs. 1800 onwards for a custom tailored shirt, at all Raymond Shops and partner multi-brand outlets, as well as on www.myraymond.com.

About Raymond Limited

Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabrics and garmenting. Over the years, Raymond has been synonymous with quality, innovation and market leadership. It has some of the leading brands within its portfolio – ‘Raymond Ready to Wear’, ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure’ amongst others. Raymond has one of the largest exclusive retail networks in the country with around 1,500 stores in more than 600 towns. Raymond also has presence in FMCG sector through Raymond Consumer care that offers wide range of products in men’s personal grooming category and personal hygiene. The group also has presence in engineering and auto components across national and international markets. In 2019, Raymond has also forayed into the realty sector through the launch of its maiden project ‘aspirational district’ spread across 14 acres housing ~3,100 residential units. Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers over the past nine decades. For more information visit www.raymond.in

BenQ Unlocks Premium Home Cinema Experience: Launches V7050i - 4K Laser TV Projector

* The V7050i 4K Laser TV Projector with HDR-PRO™, CinematicColor™, built-in Android TV and Filmmaker Mode will enriches the home cinema experience

* Recognized as Best Product 2021-2022 (Laser TV Projection System) in Home Theatre Display & Video Category by EISA- (Expert Imaging and Sound Association)

BenQ, a global leader in display technology and solutions, announced the launch of its latest 4K UHD ultra-short-throw Laser TV projector, the V7050i with HDR-PRO™, CinematicColor™, built-in Android TV, and Filmmaker Mode. The New Filmmaker mode meets the standards of UHD alliance and ensures content delivery as intended by Director.

The V7050i also comes with advanced motion estimation and compensation technology (MEMC).

When it comes to rich entertainment content, the Google-certified Android TV feature embedded in the projector ensures an extensive collection of movies, TV shows, sports for ultimate home entertainment. The intuitive and well-organized interface makes content exploration easy and quick.

The V7050i enriches the home cinema experience with front channel treVolo speakers which offers true tone sound for complete immersion. It also comes with premium design benefits such as automatic sunroof slider and motion sensor for eye protection.

“Entertainment industry is an ever-evolving space, we at BenQ India have geared ourselves up to revolutionize the home entertainment landscape in India. To achieve our goal of thriving the entertainment business in India and enable cinema fanatics with a complete package of premium cinema experience at home, we have introduced V7050i – the first 4K laser UST projector that offers impressive picture quality for TV shows and movies, in a living room-friendly design at screen sizes. This device for the cinema enthusiasts will disrupt the visuality of in-home entertainment to another level”, said Rajeev Singh, Managing Director, BenQ India & South Asia.

BenQ offers V7050i as a complete solution for cinema enthusiasts, who are looking for a large screen premium cinema experience from the comfort of their homes. It comes with 120 inch ALR screen (Ambient Light Rejection Screen) and at an attractive price of INR 5,49,000 (tax paid).

This will be available at leading home AV integrators showrooms. V7050i offers complete peace of mind with 3 years onsite warranty on the projector and 3 years or 15,000 hours on light source & installation support.

EISA Award 2021-2022

The Expert Imaging and Sound Association (EISA) is the community of 60 technology magazines, websites and social media commentators from 29 countries, specialising in hi-fi, home theatre, photo and video, in-car and mobile electronics. Every year the EISA jury of experts rewards the best products in each class with a coveted EISA Award.

The BenQ V7050i projector in combination with the Ambient Light Reflection (ALR screen) has won the prestigious EISA Award for Best Product 2021-2022 (Laser TV Projection System) in the Home Theatre Display & Video category.

The EISA Committee says, “Mixing the super-sized visuals of a traditional projector with the user-friendly installation and operation of a TV, BenQ’s V7050i (black) offer convenient, high-quality home theatre thrills. Setup is a breeze, thanks to an integrated focus pattern, measuring tool and keystone correction, while a bundled dongle introduces Android TV for video-on-demand apps, voice control and more. Build quality and styling are luxurious, audio performance from the front-facing stereo speaker array is clear and robust, and 4K HDR playback benefits from naturalistic colours, crisp images and vibrant contrast – particularly when used with BenQ’s 120in ALR (Ambient Light Rejection) screen. This is a superior all-in-one solution.”

Immersive cinema experience

The V7050i uses the latest generation 0.47-inch TI DMD ECD chipset with XPR technology to achieve its true 4K UHD (3840x2160) resolution. With BenQ’s exclusive CinematicColor ™ technology and 98% DCI-P3 colour gamut coverage, the V7050i brings out stunning colours. HDR-PRO technology (HDR10 and HLG formats) in V7050i incorporates auto colour and tone mapping techniques to offer superior brightness and contrast ranges as well as ideal image optimization. For watching content with fast paced action, the V7050i uses Motion estimation and compensation technology called MEMC which makes videos more fluid and compensates motion blur.

As BenQ shares the same values as the UHD Alliance; the V7050i comes with Filmmaker Mode. Optimized by CinematicColor, Filmmaker Mode enables V7050i to display the movie or television show precisely as it was intended by the filmmaker for a genuine cinema experience. These class-leading features all work together to ensure that the content is rendered more accurately and delivered in the way it was originally intended.

Premium Design benefits

Along with an elegant front fabric finish for complimenting home décor, the V7050i facilitates an automatic sunroof slider that automatically closes when the projector is not in use, avoiding dust build-up and exposure of the lens. Along with built-in treVolo speakers, there is Optical out/HDMI (eARC) for connecting external speakers.

By turning off the light source, the integrated Eye Protection Motion Sensor in V7050i, offers protection to eyes if someone inadvertently leans over the projector.

For an immersive viewing experience, the V7050i comes with a 120” ALR screen. This ALR screen employs a special zigzag structure to absorb 93% of ambient light (ceiling light) and reflects back the light coming from the projector. This reflective light ensures comfortable long term viewing experience for your eyes when compared with direct light from conventional large screen TVs.

About BenQ Corporation

Founded on the corporate vision of “Bringing Enjoyment ‘N’ Quality to Life”, BenQ Corporation is a world-leading human technology and solutions provider aiming to elevate and enrich every aspect of consumers’ lives. To realize this vision, the company focuses on the aspects that matter most to people today – lifestyle, business, healthcare and education – with the hope of providing people with the means to live better, increase efficiency, feel healthier and enhance learning. Such means include a delightful broad portfolio of people-driven products and embedded technologies spanning digital projectors, monitors, interactive large-format displays, digital cameras and camcorders, mobile computing devices, and lighting solutions. Because it matters.   

About BenQ Group

The BenQ Group is a $25+ billion powerhouse comprised of nearly 20 independent companies operating in over 30 countries across numerous industries with a combined workforce of over 100,000 employees.  Each Group member is a recognized leader in its own field, contributing to the BenQ Group’s vast resources, broad R&D, and distinct strategic strengths.  By leveraging each company’s vertical specialization to create true scale across horizontal markets, the BenQ Group controls a highly efficient value chain with the unrivaled ability to deliver critical components and world-class solutions in the following industries: TFT-LCD, green energy, fine chemicals and advanced materials, lighting, IC design, precision components, system integration, branded business, and service.  The Group is committed to profitable and sustainable businesses that share its long-standing vision of Bringing Enjoyment ‘N’ Quality to Life.

The BenQ Group companies are:  BenQ Corporation, AU Optronics Corporation (world’s top manufacturer of large-size TFT-LCD panels), Qisda Corporation, Darfon Electronics Corporation, BenQ ESCO Corp., BenQ Materials Corp., BenQ Guru Corp., BenQ Medical Center, BenQ Medical Technology Corp., BenQ AB DentCare Corp., BriView Co., Ltd., Daxin Materials Corp., Dazzo Technology Corp., Forhouse Corp., Lextar Electronics Corp., LILY Medical Corp. and Raydium Semiconductor Corp.. 

Veranda Acquires Edureka For Rs 245 Crores To Accelerates Foray Into Edtech

The Kalpathi AGS Group-owned Veranda Learning Solutions has acquired edtech Edureka, a live-instructor-led online solutions provider for the IT industry. This 100% acquisition marks Veranda Learning Solutions’ second buyout since December 2020.

Veranda is planning an outlay of around $100 million for acquisitions over the next 6 months to seize the opportunities opening up in the edtech space.

Founded in 2011 by Lovleen Bhatia, Kapil Tyagi and Vineet Chaturvedi, Edureka is best known for pioneering Live Online Classes based Upskilling programs for Working Professionals. Edureka partners with premier Indian institutes like IITs, NITs and prominent international universities like Purdue to offer training in Cloud Computing, DevOps, AI-ML, Data Science, Web Development, Cybersecurity, and other emerging technologies in addition to its own library of training resources. 

Edureka’s instructor-led live online classes model has the best-in-class completion rates, learner satisfaction and career transitions. Edureka’s training content is immensely popular amongst online learners and is consumed more than 1.1 crores  times every month across its Blog, Q&A Community, and YouTube channels. Of the total student base, around 44 per cent are international students spread across 85 countries. It currently has more than 1 lakh subscribed learners who are trained by a 500+ strong instructor pool with a bouquet of around 300 course offerings. Edureka is on a mission to enable transformative learning and career success in the digital economy for professionals and students across the globe. 

Speaking about the acquisition, Kalpathi Suresh, Executive Chairman, Veranda Learning Solutions, “Veranda is in active discussion with multiple targets for acquisition to create a multi modal platform that spans test prep, upskilling and supplemental education. With the current acquisition we are poised to expand our footprint in Europe and the North American markets as well. For me personally, getting back into software education is exciting and sets the stage for us to again do our part in meeting the rising demand for high-end skills in the country.”

Kalpathi Group forayed into the $1.96 billion ed-tech space by launching Veranda Learning Solutions with aspirations to create a world class enterprise with Indian values.

Veranda is India’s first comprehensive 360-degree online education platform. It is building a unique online platform that will combine the best of technology, processes and methodologies to deliver high-quality content. Focused on academic outcomes for its students, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework.

Veranda acquired the online business of Chennai Race, a coaching institute for Banking, SSC and PSC exams in late FY2020 and launched Veranda Race. The company has also launched programs for CA and IAS aspirants this quarter under the brand of Veranda CA and Veranda IAS respectively.

TRANSSION India Becomes Leading Mobile Handset Player With 28% Market Share In Sub 10K: Counterpoint Report July 2021

* TECNO, The Premium Smartphone Brand Of TRANSSION Registers Growth Rate Of More Than 100% In <10K (Jul’20-Jul’21)

* Tecno emerges as the ‘India’s Most Rewarding Smartphone brand’ in the 6-12K price segment - TechARC Survey

TRANSSION Holdings, the leading global mobile phone conglomerate, continues to strengthen its foothold in the Indian market. According to a report on India’s Mobile Phone market for July by Counterpoint Research, TRANSSION across brands (itel, TECNO & Infinix) has emerged as the No.1 handset player by capturing 28% percent market share in sub 10K segment. While TECNO the premium smartphone brand of TRANSSION is already a strong player in the segment 6-10K securing 4th rank among top smartphone brands of India.

Additionally, a recent consumer study conducted by TechARC provides a comprehensive view of a consumer’s expectation from a smartphone, in comparison to the experience that users are getting from their existing smartphone in the 6-12K segment. This study is based on the ‘GAP analysis’ between the expectations of the smartphone users & the experience which the brands were able to deliver.  Tecno as a smartphone brand has been able to deliver on major factors like camera and battery which makes them lead in the segment. (Source: TechARC consumer study)

Commenting on the milestone, Arijeet Talapatra, CEO of TRANSSION India said, “India is the top priority market for TRANSSION globally, and we are consistently working towards providing world class experience, and, customized mobile solutions to the Indian consumers. We are absolutely delighted to share that we have emerged as India’s No.1 mobile phone brand in sub 10K as per Counterpoint July report. This further fuels our commitment towards Indian consumers.

He further added, “TECNO has witnessed a robust 556% YoY growth, highest by any Top 10 smartphone brand in the online space. TECNO’s success strategy is built on its core product philosophy of introducing ‘Segment-first’ features at aggressive price-points so that every Indian can get the best Smartphone experience. The TechARC Survey recognized TECNO as the ‘Most Rewarding Smartphone’ brand in the segment which further reinforces the fact that the brand has an accurate sense of the pulse of its aspirational consumers and that is reflected in the TECNO’s diversified product portfolio – SPARK, CAMON & POVA.”

Key Takeaways from the TechARC study of Expectations Vs Experience

Camera and Battery are two key parameters determining the smartphone choice in INR 6,000-12000 segment in India.

82% smartphone users in the segment consider camera the most important feature defining the expectation whereas only 66% happy with the experience of their respective brands.

Within camera indoor and outdoor photography / videography are the two important expectations from users in the segment.  Night photography is an emerging area defining the expectations, while the AI driven enhancements and optimizations is another key factor impacting the GAP analysis.

Likewise, in the battery, charge cycle and the charging rate are two important factors influencing the expectations versus experience.  Users are increasingly wanting their batteries to last longer and take lesser time to replenish.

Tecno is able to deliver a satisfaction score of 70% in camera performance and 71% in battery

Overall, Tecno emerges as the leader in meeting expectations of the users in this segment.  Tecno’s strength is in its superior camera quality as well as emerging in leader-board in Battery and Display & Touch parameters.

About TECNO Mobile

TECNO is a premium smartphone and AIoT devices brand from TRANSSION Holdings. With “Stop at Nothing” as its brand essence, TECNO is committed to unlocking the best contemporary technologies for progressive individuals across global emerging markets, giving them elegantly designed intelligent products that inspires consumers to uncover a world of possibilities. TECNO understands the needs of consumers from different markets and provides them with localized innovations and design breakthroughs demonstrated through their mastery of serving consumers who are “young at heart” and never stops pursuing excellence. TECNO’s portfolio spans across smartphones, tablets, smart wearables and AIoT devices made for consumers in over 70 emerging markets world-wide. TECNO is also the Official Partner of Manchester City, Premier League Champions 2020-21. For more information visit: www.tecno-mobile.com.

BharatPe Appoints ‘Nehul Malhotra’ As The New Head- Consumer Lending

* Ex Paytm / Russell Reynolds/ McKinsey senior executive joins BharatPe’s core leadership team

BharatPe, India’s fastest growing Fintech company, today announced the appointment of Nehul Malhotra as Head- Consumer Lending. Nehul will work closely with the CEO, Suhail Sameer, to scale up the consumer focussed lending products at BharatPe. Nehul’s appointment is the 5th senior level appointment for BharatPe in the year 2021. The company had earlier announced the appointment of Parth Joshi (CMO), Amit Jain (CRO), Gautam Kaushik (Group President) and Sumeet Singh (General Counsel and Head- Corporate Affairs and Corporate Strategy). Nehul is a post graduate from IIM Ahmedabad and an engineer from Netaji Subhash Institute of Technology (NSIT), New Delhi.

Nehul is a seasoned leader with diverse experience across industries- including fintech, leadership advisory and search, and consulting. Prior to joining BharatPe, Nehul was Executive Director at Russell Reynolds Associates. He has an in-depth understanding of fintech, having spent 4.5 years at Paytm. During his stint at Paytm, Nehul held multiple roles including Head –Customer Service, Head- Payments Merchant Management and Head- Seller Onboarding for Paytm Mall. Nehul started his career with McKinsey where he worked on projects across sectors, including BFSI. Nehul has been an entrepreneur and had co-founded Learnmicros, a startup dealing in electronic DIY projects in the field of embedded systems, in 2009.

Commenting on the appointment, Ashneer Grover, Co-Founder and Managing Director, BharatPe said, “BharatPe, while being merchant centric business, is also a trusted consumer brand as our QR codes are all consumer facing. Our next focus area is consumer credit. Nehul will drive BharatPe’s BNPL offering to be launched in October and also strategize on how to evolve PAYBACK into a consumer lending product from a consumer loyalty one today. We continue to hire aggressively to grow our business and Nehul will be a valuable addition to the CXO group.”

Added Nehul, “Fintech is a fast evolving industry that is rewriting the rules of banking and financial services in the country. In just 3 years, BharatPe has emerged as a pioneer in India’s fintech industry. It has been one of the flagbearers of UPI adoption in the country and has also emerged as the trusted partner for millions of offline merchants and kirana store owners in the country. If we look at consumer fintech- it has undergone a huge transformation, owing to events like demonetization and the pandemic last year.  I believe that there is a huge opportunity ahead of us to build innovative credit products for consumers as digital payments and other financial services gain acceptance across the country. I am looking forward to this exciting role and building fintech products for the consumers of India as well as Bharat.”

IIM Sambalpur Celebrates Its “7th Foundation Day” Embracing The Diverse Cultural Heritage Of India

* Awards merit scholarship of INR 1,00,000 each to top seven students based on their performance

The Indian Institute of Management, Sambalpur was established by MHRD, Government of India in 2015 and was declared as an Institute of National Importance as per the IIM 2017 Act. Since then, the institute has been regarded as one of the coveted Business schools of the country. IIM Sambalpur celebrated its 7th Foundation Day today with much fervour while strictly following COVID protocols. The ceremony held in the blended mode was graced by Chief Guest, Shri. Dharmendra Pradhan, Hon'ble Minister of Education, Govt. of India, Guest of Honour, Shri. Subroto Bagchi, Chairman, Odisha Skill Development Authority, Keynote Speaker, Shri. Rajneesh Kumar, Chief Corporate, Affairs Officer, Flipkart and Prof Mahadeo Jaiswal, Director, IIM Sambalpur. The ceremony was also attended by the students, faculty member, staff of IIM Sambalpur along with members of the media. The commemorative program had a formal ceremony followed by a cultural program. 

In his addressal, Chief Guest, Shri. Dharmendra Pradhan, Hon'ble Minister of Education, Govt. of India, said, “At the outset let me congratulate the entire family of IIM Sambalpur for completing 7 years. Your passionate contribution in building this institution with utmost sincerity and dedication. I am sure Maa Sambaleswari’s blessing will take this institution to greater heights in the years to come. As you all know, Sambalpur is one of the fastest growing cities of Odisha and a land enriched with rich cultural heritage, where you have freedom fighters like Veer Surendra Sai, globally renowned poets like Swabhaba kabi Gangadhar Meher and saint like Bhima Bhoi has emerged. As students, you must take inspiration from their lives and must leave an indelible mark in the field of education. Sambalpur is the cultural capital of the Western Odisha, a cradle for Sambalpuri Handloom, dance and music which is revered worldwide. IIM Sambalpur has been the fusion of a long-cherished dream of having a management institute of national importance in Odisha, the seeds of this institution were sown during the tenure of Late Shri Arun Jaitley. As students of IIM Sambalpur as you embark on your life’s journey, you will not only become responsible citizens of the country but also leaders of tomorrow. You must work towards bringing a synergy of modern knowledge and traditional values to ensure that you represent yourselves as the true brand ambassadors of India. Under the visionary leadership of our Hon’ble Prime Minister Shri Narendra Modi ji, the National Education Policy 2020 aims to update, upgrade and upskill our youth. The policy is based on the foundation of accessibility, affordability, equity and quality, needless to say it aims to transform our education system with the emerging dynamics of the 21st century. NEP is an important step towards an Aatmanirbhar Bharat, I assure you that we are relentlessly working towards making this policy a success. A healthy workforce is only possible when we have a competent workforce of skilled management professionals and I am sure IIM Sambalpur will act as a catalyst to fulfill this dream and help excel in nation building to the best of their potential.” 

Guest of Honour, Shri. Subroto Bagchi, Chairman, Odisha Skill Development Authority, added, “I am delighted to be a part of this foundation day. Education is the most important ingredient for nation building, it cannot be trivialized. IIM Sambalpur has been on the trajectory to nurture responsible leaders for future with an entrepreneurial mindset. An educational institute must stand on strong values and IIM Sambalpur has been a defining factor in earning that trust. When we talk about Innovation, Integrity and Inclusiveness, Prof. Mahadeo Jaiswal embodies all those attributes. An educational institution must have a physical as well as digital infrastructure intertwined. Then there is a need for intellectual infrastructure to prepare the students for future, lastly, and importantly it must have an emotional infrastructure. The duty to build emotional infrastructure lies with the students. I am sure IIM Sambalpur will become one of the most memorable institutions in years to come.” 

Speaking on the occasion, Prof Mahadeo Jaiswal, Director, IIM Sambalpur, said, “The theme of the 7th Foundation Day of our Institute is “Indian Culture” which has great diversity but is very Innovative, Inclusive and with high Integrity. Our values are very much aligned with the Indian culture. IIM Sambalpur was established in the year 2015 with 49 students in the first batch of MBA and currently 6th and 7th Batch of MBA strength is 328, 3 batches of PhD is 15 students, and 2 batches of Exe PhD with 22 students and 1st batch of Exe MBA with 54 executives. The Institute outscored most other top Institutes in terms of highest gender diversity in MBA (2019-21) batch with 49% girls' students and 43% girls in MBA (2020-22) and 46 percent in the current year (2021-22). In intellectual capital we started with a faculty strength of 3 in 2017 to 17 full time faculty members in the current academic year. IIM Sambalpur was also decisive in initiating international partnership with a leading 6 Business Schools of Europe and Asia during the year. Albeit being the youngest IIM of the country, IIM Sambalpur, this is yet another glorious feat. For collaborative work, IIM Sambalpur has signed three MoUs and partnered with the Ministry MSME, Flipkart, India SME Forum, JSW, Vedanta Ltd., MCL, IOCL, and The Institute of Company Secretaries of India (ICSI), Delhi. We have also set up Incubation Centre and currently 7 startups are being incubated at IIM Sambalpur.” 

He further added, “Most notable during the year has been the significant milestones achieved by the Institute in infrastructural development. 2021 has been a revolutionary start for the Indian Institute of Management, Sambalpur. Hon'ble Prime Minister of India, Shri Narendra Modi, laid the foundation stone of the permanent campus of IIM Sambalpur on 2nd January 2021. Work on our permanent campus is in rapid progress and we expect to complete the first phase of the campus by August-December 2022. IIM Sambalpur has ranked 61 in the recent NIRF ranking and amongst the third generation IIMs it stands 2nd and 1st across India and is positioned in the 'HEI of Eminence: Institution of Academic Excellence' category in the OBE Ranking 2021, by R World Institutional Ranking.” 

Addressing the audience, Keynote Speaker, Shri. Rajneesh Kumar, Chief Corporate, Affairs Officer, Flipkart stated, “This institution is spearheaded by some great minds. As a country that has emerged from the pandemic, it has changed how we perceive businesses and everything else. There have been fundamentals shifts that covid has created in our lives and businesses. It has become evident that companies can no longer operate without considering of the larger context. This impacts the way we interact with different stakeholders. We have seen companies and businesses come together and support the Government during the tough times of covid. There is a need for businesses to be more responsible and inclusive. At Flipkart, this is exactly what we are try and do – build responsible growth and businesses. We believe this is all connected and coupled with our aspirations.” He further elaborated on Flipkart’s initiative to support small businesses through Flipkart Samarth and their partnership with IIM Sambalpur.  

The Program witnessed awards and felicitations of key achievers from various fields. Indian field hockey player and member of the Olympic bronze winning Indian hockey team, Amit Rohidas and renowned Sambalpuri singer Padmashree Jitendra Haripal, famous for the super hit song Rangabati, were honoured during the program for their marvellous accomplishments. IIM Sambalpur also awarded merit scholarships worth INR  1,00,000 each to the top seven students of second year based on their academic performance in the first year. This scholarship by the institute was initiated in the academic year of 2019-2020. As an institute that works towards integrating local communities, cultures and take them to global platform, a cultural program followed. This program entailed performances by students, Indian classical, tribal and folk artists who showcased the cultural diversity of the country. From the classical Odissi to the traditional Sambalpuri dance form Dalkhai and Dhap, folk dances from Bengal, Assam and Odisha to fusion dance by the students, the evening celebrated the rich cultural heritage of India.  

OTO Partners With PURE EV In Its Mission To Accelerate Electric Vehicle Adoption

* Customers can get home test rides and buy complete range of PURE EV’s product portfolio through the OTO Platform

* Innovative financing options from OTO will make PURE EV products more accessible and affordable

OTO, the two-wheeler buying and financing innovator, today announced its partnership with PURE EV, as they endeavour to drive the future of e-mobility together. As a part of this partnership PURE EV will showcase its range of electric vehicles from scooters to e-bikes on the OTO platform and offer flexible financing options for customers to join the EV revolution. OTO and PURE EV want to offer free home test rides, affordable interest rates and the innovative Ownership Monthly Instalments (OMIs) for customers to purchase the PURE EV electric mobility products and go green.

Commenting on the partnership, Sumit Chhazed, Co-founder, OTO, said, “The Indian two-wheeler market has maintained a steady growth. While this has been driven by internal combustion vehicles, we take great pride in partnering with PURE EV in the journey of transforming the Indian market by making ownership of EV more accessible. PURE EV’s complete range of electric mobility products will be available on our platform. Through this partnership with PURE EV, one of the most entrusted EV companies with a global presence, we are looking at disrupting the market and offering a bouquet of innovative financial solutions like never before.”

Rohit Vadera, Co-founder, PURE EV said, “Electric mobility is the way of the future but as Industry players it is our duty to make its ownership accessible and affordable through an innovative approach. We recognize that OTO has developed the discovery platform and financing options that will bring PURE EV to a larger set of customers and push towards greater adoption. We believe that collaborations such as this will play a significant role towards a greener and more sustainable tomorrow.”

Started in 2018, OTO operates on an innovative financing model for 2-wheelers where the buyer pays an upfront amount like any other loan but gets up to 35% lower EMIs with an option to retain, return or upgrade at the end of the tenure. The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides full auto lifecycle management, from credit underwriting to insurance, maintenance, and eventual resale of the vehicle.

With this partnership, PURE EV Vehicles will be made available through the OTO’s Platform across 5 cities, aiming to sell and finance 1000+ two wheelers together by December and further plans to expand pan India. OTO’s robust growth and collection performance garnered strong interest post-pandemic from various banks and NBFCs and got it multiple lending partners with the commitment of lending over INR 250Crs on the OTO platform for the next 12months. The company recently raised $6M in a Series A investment round led by Matrix Partners India to expand and re-imagining the 2-wheeler buying and ownership experience for millions of Indians.

About OTO:

OTO was founded in 2018 by IIT-Mumbai alumnus Sumit Chhazed and Harsh Saruparia to present a 10X simpler, faster and more convenient way for 20Mn Indians to buy and finance their 2-wheelers every year. The company is headquartered in Bengaluru, with its services also available in Hyderabad, Chennai, Pune and Mysore. OTO has created a dramatically simpler leasing-like financing model for 2-wheeler purchases where buyers pay a similar upfront payment like any other loan, pay up to 30% lower EMIs and have the option to own the 2-wheeler at the tenure end OR sell it back to OTO. Around this core of “10X better” financing model & experience, OTO has added an app-based layer to help 2-wheeler buyers to find all the top options in one place, schedule a home test drive at their convenience and then choose to finance with OTO and continue to manage it - all in one place. With its 300+ dealer partners, OTO has financed more than five thousand two-wheeler vehicles. Find more information about OTO on www.otocapital.in

About PURE EV:

PUR ENERGY acronym stands for Power Using Renewable Energy and true to its name ever since its incubation at IIT Hyderabad, the company has focused on enabling transition to sustainable energy sources and the electric scooters manufactured by the company popularly known as PURE EV has evolved as a popular brand in the country. Energy storage technology has been a key area of expertise for the company. Dr Nishanth Dongari, Assistant Professor at IIT Hyderabad is the founder and Rohit Vadera is the Co-Founder & CEO of the firm.

The firm has executed hybrid solar storage projects for many prestigious business groups, Universities, Hospitals, Residential communities, NGOs and Schools. The company management team brings significant experience from academia and energy industry. The company made foray into manufacturing of electric two-wheeler under the brand “PURE EV” and high-performance lithium batteries under the brand “PURE Lithium”. The company has been funded by visionary from pharma industry Shri V C Nannapaneni. The company has setup a dedicated 70,000 sq ft.  manufacturing unit with dedicated R&D center in IIT-HYD and has become   one of the leading EV startups of India within a short time. The company is focused on bringing out products that are accepted well by the mass. Find more information about PURE EV on www.pureev.in

HyFun Foods Makes In India - International Food Products For Global Markets - Eyes Revenue Of INR 1500 Crore

* The company will be clocking a turnover of about INR 500 crore this fiscal, while exporting over 70 per cent of its products to more than 20 countries

HyFun Foods, in just 5 years, has emerged as a leading producer & the largest exporter of French Fries & Potato Specialties from India and would clock a turnover of about INR 500 crore this fiscal year with more than 70% of the revenue coming from exports. Further, HyFun aims for 25% year-on-year growth to reach annual revenue of INR 1500 in the next 5 years, majorly driven by exporting frozen potato snacks to over 20 countries. In line with the growth plans, the company will be increasing the manufacturing capacity of processing potato to 3,50,000 tonnes resulting in finished frozen products of 2,00,000 tonnes. 

Hyfun foods started its export journey by participating in exhibitions in Russia and gradually expanded to Middle East, Thailand, and then most of Southeast Asia. Today, HyFun holds 60% of the total exports' share of French Fries from India. The company manufactures premium quality potato-based ready-to-cook frozen snacks, both internationally popular ones like French Fries, Wedges, Hashbrowns, nuggets, etc. There is also an array of popular Indian snacks like Aloo Tikki, Mumbai Aloo Vada, Vegetable patties, Sabudana patty, etc. 

HyFun operates an integrated seed-to-shelf business model. The quality of its products is ensured by sourcing the best quality potatoes by having a strong backward integration with the in-house seed multiplication program and procurement through contract farming, working closely with more than 2500 farmers. The company, backed by a workforce of about 500 employees, has invested INR 250 Crore to build a state-of-the-art processing facility (capacity: 175,000 tonnes of potato per annum) in Mehsana near Ahmedabad, Gujarat in India. Apart from establishing a strong network in the Food Service/HoReCa segment, the company supplies to QSRs like Burger King, KFC, Pizza Hut, Carl's Junior, and Café Coffee Day. In the consumer segment, the company does white label production for several reputed brands. The company has recently launched its products in the Retail segment starting with 6 cities, and is looking to expand nationally in the next few years.  

Commenting on the same, Mr. Haresh Karamchandani, MD, and CEO, Hyfun Foods, said, "We are one of the largest manufacturers and exporters of French fries (capacity: over 65,000 tonnes) in the country and are looking to clock a turnover of about INR 500 crore during this fiscal year. We aim to produce products for the world while helping India grow. More than 2,500 farmers spread across North Gujarat are growing potatoes for us in around 13000 acres of land under our contract farming model, resulting in assured incomes for our growers. We have adopted the best available technology in the world in our processing plant, which is AA grade BRC certified. Exports will continue to be an integral part of our business strategy, and we are extensively working to further expand our footprint in the global markets"

HyFun takes pride in its best-in-class infrastructure, where complete automation ensures that the final products are untouched by hand. The manufacturing practices and hygienic excellence match global standards, leading to the acceptance of HyFun products by customers across the globe.

HyFun has been instrumental in opening the doors of opportunity and create recognition for India as a reliable supplier of frozen French Fries and Potato specialties. The brand's acceptance in the export markets as a global standard product has unlocked a massive potential for India to become an export hub to cater to entire Asia. The company is looking to capitalize on this opportunity and plans to expand the processing capacity from 125000 MT to 350000 MT per annum with a fresh investment of about INR 350 crore.

About HyFun

HyFun is a unit of M/s. Asandas & Sons Private Limited, a success story traversing over six decades in potato trading, based in Mehsana (near Ahmedabad), Gujarat. Today it is one of the largest producers and exporters of premium-quality frozen potato products. Established in 2015, HyFun Foods excels in offering a wide variety of delicious and convenient snacking solutions, comprising a range of globally cherished French Fries and delicious potato specialties.

The other delicacies from HyFun include different types of patties, hash brown, wedges, nuggets, and much more. Within five years, the company has made pan India presence and exports to more than 20 countries, with a firm hold in the South-East Asian region. 

HyFun works on the seed-to-shelf model. From seed multiplication to contract farming, storing, processing potatoes, and finally delivering the best ready-to-cook snacks to the last mile, HyFun does it with its own supply chain model. The company has contracts with over 2500 farmers and procures potatoes directly from farmers through their contract farming model. This model ensures a reliable supply of quality raw material, and in return, the farmers are benefitted through assured income. The Government of India's dossier 'Putting Farmers First,' released in December 2020, also recognized HyFun's contribution to increasing farmers' income.

IIFL Finance To Raise Upto Rs. 1,000 Crore Via Secured Bonds, Offers Upto 8.75% Yield

IIFL Finance, one of India’s largest Non-Banking Financial Companies, will open a public issue of secured bonds on September 27, 2021, to raise up to Rs. 1,000 crore, for the purpose of business growth and capital augmentation. The bonds offer up to 8.75% yield and high degree of safety. 

The Fairfax -backed IIFL Finance will issue secured redeemable non-convertible debentures (NCDs), aggregating to Rs 100 crore, with a green-shoe option to retain over-subscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).

The IIFL bonds offer highest effective yield of 8.75% per annum for tenor of 60 months. The company will also offer an incentive of 0.25% p.a for existing bond or equity share holders of the company. The NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly, annual and at maturity basis for 60 months tenor, while for other tenors it is available on annually and at maturity basis.

The credit rating has been AA/Stable by Crisil and AA+/negative by Brickwork, which indicates that the instruments are considered to have a high degree of safety for timely servicing of financial obligations and carry very low credit risk.

Rajesh Rajak, CFO, IIFL Finance said, “Through a strong physical presence of over 2500 branches across India and a well-diversified retail portfolio, IIFL Finance caters to the credit need of underserved population. The funds raised will be used to meet credit need of more such customers and accelerate our digital process transformation to enable a frictionless experience.”

He added, “IIFL has an impeccable track record of more than 25 years and all the bond issues and the debt obligations have always been paid on time.”

IIFL Finance is one of India’s largest retail-focused financial services companies. IIFL Finance’s Loan Assets under Management is Rs 43,160 crore as on June 30, 2021. Most importantly, 93% of the book is retail - which is focused on small ticket loans.

IIFL Finance has consistently maintained low level of NPAs over the years of operations and continues to focus on good quality of assets with gross NPA of 2.21% and Net NPA of 1.02%.  As on June 30, about 86% of the company’s consolidated loan book is secured with adequate collaterals which helps to mitigate risks further.

In Q1 FY22, IIFL Finance reported a profit after tax of Rs 266 crore, up 735% on year with a robust return on equity of 19.7%. It has strong relationship with multiple banks and financial institutions.

The lead managers to the issue are Edelweiss Financial Services Limited, IIFL Securities Limited and Equirus Capital Private Limited. The NCDs will be listed on the BSE Limited and National Stock Exchange of India Limited (NSE), to provide liquidity to investors. The IIFL Bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories. The public issue opens on September 27, 2021 and closes on October 18, 2021, with an option of early closure. The allotment will be made on first come first served basis.

About IIFL Finance

IIFL Finance Ltd is one of the leading retail focused diversified NBFC in India, engaged in the business of loans and mortgages along with its subsidiaries - IIFL Home Finance Limited and Samasta Microfinance Limited. IIFL Finance, through its subsidiaries, offers a wide spectrum of products such as Home loan, Gold loan, Business loan, Microfinance, Capital Market finance and Developer & Construction finance to a vast customer base of over 6 million customers. IIFL Finance has widened its pan-India reach through extensive network of branches spread across the country and various digital channels.

ExxonMobil Expands Its Synthetic Engine Oil Range; Launches Mobil SuperTM SUV Pro For Sport Utility Vehicles

* The full synthetic engine oil delivers All-in-One Protection for every terrain

ExxonMobil Lubricants Pvt Ltd, a wholly-owned affiliate of ExxonMobil Corporation, today announced the launch of Mobil SuperTM All-in-One Protection SUV Pro synthetic engine oil. The launch comes at a time when sales of sport utility vehicles have grown from strength to strength, accounting for about one-third of new passenger vehicle sales.

“People are turning to SUVs to more easily manoeuvre through dense traffic, handle bad weather conditions, and drive over rugged terrain.  To meet the needs of SUV owners, we are introducing Mobil Super SUV Pro which is specially formulated with active ingredients for SUV engines.  Whether you use your SUV for daily commute or weekend drives, our new Mobil Super SUV Pro is packed with features to deliver All-in-One Protection for every terrain, making it easier for all SUV owners to care for their cars,” said Deepankar Banerjee, Chief Executive Officer (CEO), ExxonMobil Lubricants Pvt Ltd.

The full synthetic Mobil SuperTM SUV Pro delivers:

79% better engine wear protection^

Outstanding Low Speed Pre-ignition protection to prevent internal engine damage

Enhanced protection for stop-and-go traffic to help conserve fuel on daily commutes

All-weather protection for longer engine life

Heat activated anti-wear protection

^ Based on ASTM D6891 (Seq. IVA) test results versus API SN engine test requirement

The Mobil Super SUV Pro is backed by over 150 years of experience in lubricant technology, delivering proven protection for a smoother, more comfortable drive for daily commutes and weekend adventures at wallet friendly prices.

Coming from the makers of Mobil 1, Mobil Super SUV Pro is suitable for both diesel and petrol engines and meets American Petroleum Institute (API) SN Plus and European Automobile Manufacturers' Association (ACEA) A3/B4 Standards. The engine oil is suitable for use across SUV models from leading automakers in India.              

Mobil lubricants have continuously kept millions of vehicles performing at their very best as the product formulations are based on proven technologies meeting the unique requirements of various driving styles and conditions.

Mobil Super SUV Pro is available in 1, 3.5, and 5-litre pack sizes at Mobil Authorized Retail stores, Mobil Car Care stores and Amazon.

About ExxonMobil in India

ExxonMobil’s downstream business engages in the distribution, sales and marketing of Mobil branded lubricants and specialties. The chemicals business provides market development support, analytical and reporting services. It also conducts chemical product application support services and product testing support at its technology center in Bengaluru. The upstream business provides consulting and LNG market development support services for other ExxonMobil upstream affiliates. The Global Business Center/Technical Center provides a range of support services for ExxonMobil’s operations around the globe. ExxonMobil contributes to programs in India that support education, health and the community. 

71% Of Indian Organizations Attribute Damaging Cyberattacks To Vulnerabilities In Technology Put In Place During Pandemic

* Study reveals 80% of organizations plan to have employees working from home, but security strategies lag behind

Tenable®, Inc, the Cyber Exposure company, published a global study that revealed 71% of organizations in India attribute recent business-impacting cyberattacks  to vulnerabilities in technology put in place in response to the pandemic. The data is drawn from ‘Beyond Boundaries: The Future of Cybersecurity in the New World of Work,’ a commissioned study of more than 1,300 security leaders, business executives and remote employees worldwide, including 92 responses in India, conducted by Forrester Consulting on behalf of Tenable.

The study found a stark contrast between Indian organizations’ plans for a hybrid work model and the reality of securing it. Eighty percent of Indian organizations plan to have employees working from home at least once a week in the next 12-24 months, while 63% plan to make a permanent move to remote work over the next two years. But, an alarming 53% of security and business leaders expressed concerns that their organizations are only somewhat or not prepared at all to secure their workforce strategy.

Specific challenges about supporting a remote workforce include the lack of employee awareness to secure home networks and personal devices (53%) and visibility into employee security practices (56%). To further compound matters, a meagre 29% felt that they have enough staff to adequately monitor the attack surface. It’s clear that organizations need to eliminate blindspots by shoring up their defenses to support the next phase of their workforce model.

Impact of an atomised attack surface

The study also found that the fast deployment of new technologies to facilitate remote work heightened the level of risk for Indian businesses. In the past year, a staggering 88% of Indian organizations experienced a business-impacting cyberattack, with 56% of respondents indicating that the attacks targeted remote workers. It comes as no surprise that, as organizations adopted new technologies to embrace remote work, their software supply chain expanded. Sixty-three percent of security leaders attributed recent attacks to a third-party software vendor compromise – underscoring the need for greater visibility into the atomised attack surface.

“The future of work is without perimeters and organizations must be prepared to secure their new reality,” said Kartik Shahani, country manager at Tenable India. “It’s more important than ever for business and security leaders to lock arms and weave cybersecurity into the fabric of their organizations’ digital infrastructure. Organizations must rethink their approach to understanding and managing cyber risk in the new world of work.”

Hybrid work models and a digital-first economy have brought cybersecurity front and centre as a critical investment that can make or break short- and long-term business strategies. To address this demand, Indian security leaders plan to increase cybersecurity investments in vulnerability management (92%), cloud infrastructure and platforms (84%) and identity access management (66%).

●      Forrester conducted an online survey of 426 security leaders, 422 business executives, and 479 remote workers, as well as in-depth telephonic interviews with six business and security executives, to examine cybersecurity strategies and practices at large enterprises in the US, the UK, Germany, France, Australia, Mexico, India, Brazil, Japan, and Saudi Arabia. The study was fielded in April 2021.

●      “Business-impacting” relates to a cyberattack or compromise that results in a loss of customer, employee, or other confidential data; interruption of day-to-day operations; ransomware payout; financial loss or theft; and/or theft of intellectual property.

About Tenable

Tenable®, Inc. is the Cyber Exposure company. Over 30,000 organizations around the globe rely on Tenable to understand and reduce cyber risk. As the creator of Nessus®, Tenable extended its expertise in vulnerabilities to deliver the world’s first platform to see and secure any digital asset on any computing platform. Tenable customers include more than 50 percent of the Fortune 500, more than 30 percent of the Global 2000 and large government agencies. 

KFin Technologies, CAMS Launch MFCentral - India’s First Interoperable Investment Management Platform

KFin Technologies (KFintech) and CAMS, today, announced the launch of MFCentral, a one-of-its-kind digital solution for enhanced service experience for mutual fund investors. The platform expects to transform investor experience with the mutual fund industry through its single window view across all mutual funds.

MFCentral is a collaborative effort of KFintech and CAMS, the Mutual Fund Registrar & Transfer Agents in association with AMFI. For the first time ever in the industry, MFCentral offers digital access to investor lifecycle engagement with the entire MF industry under one roof. The platform aims to render all conceivable transaction types across the industry participants in a highly automated and digitized manner. The platform’s underlying strengths include standardized and uniform processes, inter-operability and future ready architecture for scale and speed.

Mr. Anuj Kumar, Managing Director, CAMS commented, “We are pleased to bring the MFCentral platform to the investor community. The platform will bring about simplification in mutual funds services and reduce turnaround times, while providing safe access. Leveraging the power of digital, MFCentral provides a unified gateway for friction-less services across all mutual funds”.

In addition to a single portfolio view, the platform strives for complete fungibility of physical and digital services. It offers investors the added convenience of generating reports on unclaimed payments and raising service requests for non-commercial transactions (Digital and Scan based), such as nominee change and address update   

Speaking on the launch, Mr. Sreekanth Nadella, CEO, KFintech said, “The launch of MFCentral is a milestone moment in the Indian MF industry. At the heart of the platform lie four fundamental objectives – 1. Step change in ease of doing business for Investors, Intermediaries and AMCs 2. Lay foundation for a secure, resilient and hyperscale processing infrastructure to meet exponential growth expected in the MF industry 3. Construct an Info superhighway to provide best in class analytics to the Regulator, AMCs and ecosystem partners and 4. Rationalize redundancy in industry’s efforts and costs”

The platform is conceptualized to go live in three distinct phases, all of which are planned to go live by the end of this calendar year. The first phase, going live today, covers non-commercial transactions (service requests of investors), financial portfolio view, and consolidated account statement amongst other features. The next two phases will see the launch of a mobility platform, financial transactions, and integration with ecosystem partners for several value-added services.

About MFCentral:

MFCentral is an innovative first-of-its-kind investor services hub conceived and developed by KFintech & CAMS. Leveraging best-in-class technology, MFCentral is built on architectural changes KFintech & CAMS have made through interoperability, thus facilitating the real-time resolution of service requests.   

Designed to drive ease of doing business for investors and distributors, MFCentral is an enhanced infrastructure that will support value-added services by existing industry platforms, exchanges and channel partners. The platform facilitates transactions of every Mutual Fund investor irrespective of the mode of joining the industry. 

Currently, in Phase 1, MFCentral allows for non-financial transactions. In Phase 2, MFCentral will be available as a mobile application, and in Phase 3, MFCentral will enable the investors to make commercial transactions and investments into mutual fund units and distributors’ login along with their associated services will be rendered.

About KFin Technologies Private Limited:

KFin provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance and pension. KFin serves 25 out of the 44 Indian Mutual Fund AMCs, which have over US$148 billion in AUM. The Company has been chosen as the partner for 15 out of the last 20 Mutual Fund AMCs launched in India.The Company also serves 550+ listed and 3,700+ unlisted corporates with over eight crore folios in India as a leading corporate registrar. KFin is also one of the two players providing central recordkeeping services to the National Pension System in India. KFin is also a leading player in the alternatives and private wealth management space, serving 300+ AIF schemes. Internationally, KFin serves several mutual funds and pension managers across Asia (ex-India) including Malaysia, Philippines, Singapore and Hong Kong. In addition to being the center of excellence for clients in Americas, Australia and parts of Europe.

KFin’s proprietary applications, big data technologies and hybrid cloud environment enable servicing of over 13 crore folios and processing of over 10 lakh transactions on a daily basis. KFin is a Great Place to Work CertifiedTM organisation for the last two years (2020 and 2021) and has won several awards in the Fintech and Leadership space.

About CAMS Limited (www.camsonline.com) BSE: 543232; NSE: CAMS

CAMS is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions, with over two decades of experience. The Company is India’s largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 70% based on mutual fund average assets under management (“AAUM”) managed by its clients.  Over the last five years, the Company has grown its market share from approximately 61% during March 2015 to approximately 69.6% in Jun.2021, based on AAUM serviced.

Its mutual fund clients include all the top five mutual funds in the country as well as ten of the fifteen largest mutual funds in the country (based on AAUM during Mar’2021). With the initiative of creating an end-to-end value chain of services, the Company has grown its service offerings and currently provides a comprehensive portfolio of technology-based services covering areas such as transaction origination interfaces, transaction execution, payments & settlements, Reconciliation, dividend processing, investor interface, record keeping, report generation, intermediary empanelment and brokerage computation and compliance related services. These are delivered through a pan-India network of offices to its mutual fund clients, distributors, and investors. The company also provides a wholesome suite of services to Alternative investment funds, insurance companies and non-banking finance companies.