Saturday, May 25, 2024

Religare Enterprises Limited Announces Strong Financial Results For Quarter And Year Ended 31 March 2024

Religare Enterprises Limited (REL), India’s leading diversified financial services Group, has announced the financial results for the quarter and the year ending 31 March 2024 after the meeting of its Board of Directors on 21 May 2024.

For the quarter, consolidated revenue grew by 28% to Rs 1,874 crore in Q4 FY24 as compared to Rs 1,460 crore in corresponding quarter of the previous year. The Consolidated revenue is Rs 6,299 crore for FY24, up by 30% as compared to the previous year. The Company reported a Profit Before Tax of Rs 217 crore (before exceptional items) as compared to a loss of Rs 31 crore in FY23. 

Commenting on the financial performance, Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises Limited said, “We are pleased to announce another year of strong financial performance, further consolidating the leadership position of the company after a significant turnaround last year. Despite certain challenges, REL has stayed on course to grow steadily. All four businesses have reported another profitable year. During the fiscal, Care Health Insurance and Religare Broking Limited have reported their best performance to date. We remain optimistic about the future of all the businesses and are confident in our ability to continue delivering value to all our stakeholders.”

“Care Health Insurance posted an all-time high premium collection of Rs 7,022 crore, in FY24. Our Securities Broking business registered a bumper year of growth with income amounting to Rs 368 crore for FY24, a jump of 29% as compared to the previous year. While the Housing Finance business reported another profitable year our SME lending arm, Religare Finvest Limited (RFL) has become debt free and is ready to start the operations,” she said.

Highlights of the results:

The Consolidated revenue is Rs 6,299 crore for FY24, up by 30% as compared to the previous year

The Company reported a Profit Before Tax of Rs 217 crore as compared to a loss of Rs 31 crore in FY23.

Care Health Insurance Limited

One of the fastest growing and the second largest Standalone Health Insurance Company

CARE Health Insurance collected an all-time high premium of Rs 7,022 crore, in FY24

The investments book increased by 31% to Rs 6,633 crore as on 31 March 2024

One of the best profit margins; the Profit Before Tax grew by 25% and stood at Rs 410 crore

One of the lowest claims ratio of 58% in the health insurance industry

Religare Broking Limited

Prolific year for Religare Broking as the total income grew by 29% to Rs 368 crore for FY24 as compared to previous year

Tailwinds from the market along with exceptional growth in business volume

The profit before tax was at Rs 55 crore for FY24, up by 143%

The company achieved a fresh credit rating by CRISIL: Short Term A3+ & Long-Term BBB/ Stable

Religare Housing Development Finance Corporation Limited

Reported another profitable year

Religare Finvest Limited

RFL became debt free during the year with a positive net worth of Rs 740 crore as on 31st March 2024. The SME lending arm is business-ready with a robust Go-to-market strategy.

About Religare Enterprises Limited:

Religare Enterprises Limited (REL), a Core Investment Company (CIC) registered with Reserve Bank of India (RBI), is a diversified financial services company. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, A ffordable Housing Finance, Health Insurance and Retail Banking. REL is listed on the BSE (Bombay Stock Exchange) and National Stock Exchange (NSE) in India. The Religare Group (REL & subsidiaries) reaches over 1 million policyholders in insurance business, 1 million plus broking customers, more than 26,000 customers in MSME finance and over 10,000 customers in affordable housing finance. The Group employs more than 11,000 professionals servicing this diversified customer base with a presence in over 1,000 locations across India.

Kasturba Medical College, Mangalore Celebrates 70th Anniversary With Grand College Day And Awards Ceremony

Kasturba Medical College (KMC), Mangalore, a constituent unit of Manipal Academy of Higher Education (MAHE), Manipal, commemorated College Day and Awards Ceremony on Friday, 24 May, at Dr T M A Pai International Convention Centre in Mangalore.

The event was a celebration to mark the 70 years since KMC Mangalore was established as a public-private partnership committed to delivering quality medical education and healthcare services. The ceremony was marked by the presence of esteemed guests, faculty, and students. Dr Unnikrishnan B, Dean, KMC, Mangalore commenced the event by delivering welcome address and Dr Gagan Bajaj, Associate Professor, MCHP was the master of the ceremony.

The ceremony was graced by the Chief Guest, Mr Ganesh N. Nayak, Executive Director, Zydus Lifesciences Limited. In his address, Mr Nayak said, “It is an honour to join you all today at Kasturba Medical College, Mangalore, as we celebrate the 70th anniversary of this esteemed institution. Seventy years is a significant span, and throughout this period, KMC Mangalore has not only adapted to the evolving landscape of medical science but has also been a pioneer, setting benchmarks for others to follow. At Zydus Lifesciences, we share KMC’s vision of pushing boundaries and striving for excellence in healthcare. The institution’s contributions to medical research, its commitment to producing world-class healthcare professionals, and its unwavering dedication to community service are truly commendable. I extend my heartfelt congratulations to Kasturba Medical College, Mangalore, on this momentous occasion. May you continue to inspire, innovate, and lead the way in medical education and healthcare.”

Dr H. S. Ballal, Pro Chancellor, MAHE, Manipal, said, “As we celebrate seven decades of transformative impact on medical education and healthcare, the spirit of innovation defines KMC’s journey. Let us continue to uphold the values of excellence, compassion, and service as we navigate the evolving landscape of healthcare. Congratulations to KMC Mangalore on this historic occasion.”

Lt. Gen. (Dr) M. D. Venkatesh, VSM (Retd), Vice Chancellor, MAHE, Manipal, said, “As we celebrate the 70 years of Kasturba Medical College, Mangalore, we honour a legacy of excellence that has shaped the landscape of medical education and healthcare. This milestone is a testament to the dedication, innovation, and unwavering commitment of the KMC community. Let us continue to build on this strong foundation, striving for greater heights and making a lasting impact. Congratulations to all on this remarkable journey of seven decades.”

Dr Sharath K. Rao, Pro Vice Chancellor - Health Sciences, MAHE, Manipal, added, “As we mark the 70th anniversary of Kasturba Medical College, Mangalore, let us continue to foster a culture of innovation, empathy, and excellence, ensuring that KMC Mangalore remains at the forefront of medical education and research. Congratulations!”

Dr Dilip G. Naik, Pro Vice Chancellor, MAHE, Mangalore, said, “On this momentous occasion, we celebrate a legacy of pioneering medical education and exceptional healthcare. As we look forward to the future, let us continue to embrace innovation, compassion, and dedication, ensuring that KMC remains a beacon of excellence in the medical field.”

Dr Unnikrishnan B, Dean, KMC, Mangalore presented the College Report 2023. The event also included the felicitation of endowment awardees, batch and subject toppers, outstanding sportsmen, and members of the student council, student research forum, and student clubs. The evening proved to be one filled with recognition, celebration, and reflection on the institute’s journey towards excellence in medical education.

Concluding the ceremony, Dr Pramod Kumar, Associate Dean, KMC Mangalore extended a heartfelt vote of thanks, expressing gratitude to dignitaries, college faculties, students, press and media representatives, and everyone else gathered.

About Manipal Academy of Higher Education (MAHE):

MAHE is recognized as a leading quality academic and education service provider and has significantly contributed to continuously improving the standards and penetration of higher education in India. The Manipal Academy of Higher Education has, as its genesis, an enthralling story of a genius, the late Dr. T. M. A. Pai who had the vision of getting society rid of the three major ills of illiteracy, ill health, and poverty. It provides a great variety of graduate and postgraduate skill enhancement educational courses covering several important disciplines like medicine, engineering, dentistry, pharmacy, nursing, allied health, management, communication, life sciences, hotel administration, etc. through its 25 Professional Higher Education institutions. It has also taught and researched departments in Statistics, Commerce, Geopolitics & International Relations, European Studies, Philosophy & Humanities, Atomic & Molecular Physics, etc. Over 35,000 students from all over the world pursue undergraduate and postgraduate programmes in diverse subjects. The finest of infrastructure facilities, state-of-the-art equipment, well-equipped laboratories, and dedicated and competent faculty have enabled MAHE to be reckoned as one of the best-deemed universities, attracting students from all over India and 60+ countries of the world. MAHE currently has 3000+ faculty and 10500+ support and service staff. MAHE is a Wi-Fi-enabled campus and has excellent facilities for sports and games. MAHE has been accredited by NAAC with an A++ Grade and its technical programs are also accredited by NBA. MAHE’s quest for excellence is best exemplified in national and international recognitions. As per the National Institutional Rankings Framework (NIRF)-2023 of the Ministry of Education, Government of India, MAHE has ranked 6th in the ‘Universities’ Category. MAHE has an Off-Campus, each at Mangalore, Bengaluru, and Jamshedpur, and has two Off-Shore campuses, one in Dubai (UAE) and the other in Melaka (Malaysia). MAHE and its Off-center Campuses and Off-shore Campuses have world-class infrastructural facilities and follow pedagogy, which is constantly reviewed and upgraded to reflect the latest trends and developments in their respective disciplines.

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Friday, May 24, 2024

Finolex Cables' Q4 Revenue Grows By 15%, Annual Profits Up By 14% Amidst New Product Growth And Market Expansion

Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held approved results for the fourth quarter as well as the full year of 2023-24.

Revenues for the quarter ended March 2024 were Rs.1401.2 Cr as against Rs.1224.3 Cr for the corresponding period in year 2022-23, representing a 15% growth in value terms. In volume terms, Electrical Wires increased by 15% compared to Q4 of the previous year, while Cables improved by 50%. Within Communication Cables segment, most product lines increased in volume, by an average of 14%. Volumes in new products within the FMEG sector all showed a healthy growth from the corresponding quarter. While all products contributed to positive margins, Lighting products continued to be affected by price erosion.

For the full year 2023-24, sales were Rs. 5014.4 Cr as against Rs. 4481.1 Cr in the previous year – an improvement of 12%. During the year, commodity prices continued to remain volatile, which led to several price revisions to pass on both cost reductions as well as cost increases to the end customers, resulting in a situation where margins fluctuated every quarter. For the full year Electrical Wires grew about 15% in volume, while Cables grew by 26%; OFC volumes were lower by 30% given that there were delays in new tenders from the government as well as by private telecom companies, while all other products in the Communication segment grew more than 10%. There has been a pick up in the growth of new products and revenue crossed Rs 225 Cr for the year – a growth of 15%. Addition to product range, and expansion of distribution network have all contributed to the better revenues and volumes within these product segments.

Profit for the quarter, before taxes, was Rs.196.1 Cr, as compared to Rs.173.5 Cr in the previous year – the 13% improvement is a result of volume led growth in the major segments, new product introductions as well as some pricing actions to maintain margins.

For the full year, profit before taxes stood at Rs 752.9 Cr as against Rs 646.0 Cr in the previous year – an improvement of 17 %.

PAT for Q4 of 2023-24 stood at Rs 146.2 Cr as against Rs 134.6 Cr for the corresponding period of the previous year – an improvement of 9%.

For the full year, profit after taxes were Rs 571.6 Cr as against Rs 501.7 Cr in the previous year – an improvement of 14%.

At its meeting today, the Board has recommended a dividend of 400 % for the year, which means an outgo of Rs 8/- per for every share of Rs 2/- the overall dividend outgo would be Rs 122.4 Cr.

For the year ended 31st March 2024, the consolidated results reflect net sales of Rs 5014.4 Cr as against Rs 4481.1 Cr in the previous year and Profit After Taxes of Rs 651.7 Cr as against Rs 504.3 Cr in the previous year. 

The previously announced plans to set up an E-Beam facility and Preform manufacturing plant are progressing well. The first of the E-Beam equipment is currently under commissioning and is expected to be in production shortly; the second equipment is expected to arrive in the next few weeks. It is expected that market offering should start by August/September 2024. As reported earlier, Phase I of the  Preform facility should be operational by Jan/Feb 2025. Overall capex for these programs will be within the estimates provided earlier.

Vitesco Technologies Delivers Electric Drive System For “Honda CR-V Plug-In Fuel Cell Electric Vehicle”

EMR3 axle drive powers the Honda CR-V e:FCEV, which will be marketed in the U.S. and in Japan later in 2024

First time that a Vitesco Technologies’ drive system is integrated into a hydrogen fuel cell electric vehicle

The proven Vitesco Technologies’ electric axle drive is integrated without noteworthy changes into the fuel cell car

EMR3 axle drive brings proven mature technology, energy efficiency, and attractive driving dynamics

Vitesco Technologies Fuel Cell Bypass Valve controls the air flow to and from the car’s fuel cell stack

Vitesco Technologies, a leading international supplier of modern drive technologies and electrification solutions, will deliver its EMR3 (Electronics Motor Reducer, 3rd Generation) integrated axle drive to “Honda for its allnew CR-V e:FCEV” that will be marketed in the U.S. and in Japan later in the year. It is the first time that a Vitesco Technologies’ drive system is integrated into a hydrogen fuel cell electric vehicle (FCEV). Along with the axle drive, Honda will install Vitesco Technologies’ fuel cell stack bypass valve to control the air flow to and from the fuel cell. This bypass valve is based on decades of experience with combustion engine air flow management which now proves to be instrumental for state-of-the-art fuel cell systems.

While the production numbers of the CR-V e:FCEV will probably not match those of other CR-V models, the vehicle is highly innovative: It combines a long range and quick re-fueling of an electric vehicle with a fuel cell system with the option to drive up to 60 kilometers purely electric with power from the 17,7 kWh high-voltage battery. In addition, the driver has a 110 V electric outlet in the car to supply electric devices with up to 1,500 W consumption. Thus, the vehicle can become a clean power source during power outages as well as for outdoor recreational activities.

“We are proud to deliver our proven EMR3 axle drive system to a car that combines so many innovative elements of clean mobility. It is good to see our drive technology fitting so seamlessly into Honda’s pursuit of carbon neutrality,” says Thomas Stierle, Member of the Executive Board and head of the Electrification Solutions division of Vitesco Technologies.

Vitesco Technologies’ EMR3 axle drive is a platform that integrates up to three drive system components in one unit: Electric motor, power electronics and reducer. For the Honda e:FCEV Vitesco Technologies will deliver an electric motor and power electronics version without reducer. Owed to very compact dimensions, low weight, high efficiency, and ease of vehicle integration, the EMR3 is one of the most successful Tier1 axle drive systems on the market. By the end of March 2024 more than 900,000 EMR3 Vitesco Technologies units were delivered to many brands and models worldwide.

The EMR3 version for the CR-V e:FCEV was jointly developed by experts in Europe, China and Japan. In the Honda SUV it pushes out 174 horsepower and offers 229 lb.-ft. peak torque. With a full hydrogen tank the vehicle is expected to have a range of over 600 kilometers plus an additional purely electric range of more than 60 kilometers. Manufacturing of the EMR3 has commenced at the Vitesco Technologies site in Tianjin, China.

“Hydrogen fuel cell systems offer an attractive option for stress-free, long-distance sustainable mobility. Our axle drive systems work smoothly and without noteworthy changes in an electric car with fuel cell system. This is another future proof for our successful drive technology,” says Gunter Muehlberg, Head of Product Management High Voltage Drives at Vitesco Technologies.

Dvara KGFS Announced Successful Debt "Raise Of $10 Million" To Fuel Company's Expansion Plans

Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), a rapidly growing financial services company dedicated to maximizing financial well-being in rural India announced the successful debt raise of $10 million to fuel the company's expansion plans and strengthen its efforts to empower underserved communities across the country. The funds were secured from BlueOrchard Microfinance Fund, a global impact investor dedicated to creating positive development impact.

The debt was raised through the issuance of listed non-convertible foreign currency bonds under the External Commercial Borrowings route. The Bonds are listed in the India International Exchange, GIFT City, Gujarat, India's first operational smart city and International Financial Services Centre (IFSC), which has emerged as a nucleus for global financial transactions, fostering a conducive environment for seamless capital flow to India. Leveraging this promising ecosystem, Dvara KGFS capitalized on the opportunity to access foreign debt while also gaining international visibility.

“In a great start to a very promising year, we are delighted to announce the debt raise from BlueOrchard,” said Mr. LVLN Murty, Managing Director & CEO of Dvara KGFS. “The company aims to grow by 40% in the current financial year, and exploring various avenues of raising liquidity will be critical to ensuring of a well-diversified resource profile. Our increased partnerships with like-minded foreign funds working in the impact space will be instrumental in expanding our reach and empowering even more underserved communities by providing them with access to critical financial services.”

Dvara KGFS leverages an omni-channel approach, offering a wide range of loans and third-party products to cater to the diverse financial needs of its clientele. With a robust infrastructure encompassing 400+ branches spanning 10 Indian states, the company is poised for a trajectory of sustainable and profitable growth.

“We are thankful for the continued patronage of BlueOrchard Microfinance Fund, as this is the second round of debt they have provided to us in quick succession. It speaks volumes about the high standards of corporate governance and robust business infrastructure that the company employs to create impact in the space that deserves it the most,” commented Ms. Shilpa Bhatter, CFO of Dvara KGFS. “By listing its debt on the India International Exchange, the company also gains visibility to the fast-evolving international debt market thereby securing sustainable access to lower-cost debt and allowing us to maximize our impact on rural communities.”

India's Data Centre Boom To Drive 10 Million Sq.ft. Real Estate Demand, USD 5.7 Billion Investments By 2026: JLL

* Expected demand for Indian data centre industry: 650-800 MW during 2024-26

* Absorption recorded in 2023: 147 MW, indicating industry resilience.

* 791 MW capacity to be added in India's DC industry by 2026.

The Data Centre (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive a demand for 10 million sq. ft. of real estate space, attracting investments worth USD 5.7 billion. The surge is primarily fuelled by the increasing adoption of Artificial Intelligence (AI). As usage of AI gains pace, the demand for Indian DCs is expected to be in the range of 650-800 MW during 2024-26.

The exponential growth in computing power and the resulting new applications are expected to drive strong demand for DC industry over the medium term.

Cloud Service Providers (CSPs), who essentially offer IT infrastructure systems primarily for data storage and computing power accessible through the Internet, have realigned their requirements to factor in AI-led demand. The CSPs have also announced higher investments to scale up AI-led growth.

“The exponential growth in processing power and data volumes, driven by AI, necessitates the development of new data centres capable of meeting energy, processing, and cooling needs. The anticipated expansion and progression of diverse AI disciplines are projected to create additional demand for data centres, expanding their capacity requirements and advancing their capabilities” said Rachit Mohan, APAC Lead – Data Centre Leasing and Head - Data Centre Advisory, India, JLL.

Improved absorption during H2 2023 (July-Dec 2023)

During the second half of 2023, there was a 12% increase in absorption to 81 MW compared to 72 MW during the same period last year. This growth can be attributed to CSPs gaining momentum after a brief hiatus during the first half of 2023. In Mumbai, absorption nearly doubled during this period as CSPs renewed their pace of absorption.

“India is poised to be the third-largest economy, with a projected USD 5 trillion GDP by 2027 with digital economy contribution of around 20 per cent. This digital expansion is anticipated to propel the growth of India's data centre industry, projected to increase from 853 MW in 2023 to 1,645 MW by 2026. This increase in capacity will require an investment of USD 5.7 billion and approximately 10 million square feet of real estate,” said Dr. Samantak Das, Chief Economist and Head of Research & REIS, India, JLL.

There was a lower supply addition of 75 MW during H2 2023 as the available supply from the first half was utilised to meet the demand, resulting in tighter vacancy levels of 5.5%.

Source: JLL Research

India's focus on AI is evident through the India AI mission, aimed at fostering innovation, upskilling the workforce, and ensuring responsible and ethical deployment of AI technology. With a large user market, talented workforce, and thriving startup ecosystem, India presents a significant opportunity to emerge as a global data hub, driven by sustainable practices. The country's DC sector expanded from 350 MW in 2019 to 854 MW in 2023, in line with the increasing digital usage trends.

About JLL 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage, and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About JLL India

JLL is India’s premier and largest professional services firm specialising in real estate. The Firm has grown from strength to strength in India for the past two decades. JLL India has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi, and Coimbatore) and over 130 tier-II and III markets with a cumulative strength of over 14,000 professionals. The Firm provides investors, developers, local corporates, and multinational companies with a comprehensive range of services. These include leasing, capital markets, research & advisory, transaction management, project development, facility management and property & asset management. These services cover various asset classes such as commercial, industrial, warehouse and logistics, data centres, residential, retail, hospitality, healthcare, senior living, and education. For further information, please visit

Toyota Technical Training Institute (TTTI) Students Excel At IndiaSkills Competition 2024

In a significant step towards supporting the "Skill India Mission” and “Viksit Bharat 2047,” Toyota Technical Training Institute (TTTI) today announced the exceptional performance of its students at the IndiaSkills Competition 2024, organized by the National Skill Development Corporation (NSDC).  Prem V earned a gold medal in Additive Manufacturing as an individual competitor. In the Manufacturing Team Challenge, Mohit M U, Harish R, and Nelson V triumphed as a team, securing gold medals. In Mechatronics, the team of Darshan Gowda C S and Bhanu Prasad S M also achieved gold, while Hemanth K Y and Uday Kumar B garnered silver in the same category. Additionally, Rohan A S received a silver medal and Mr. Sudeep S M received Medallion of Excellence in Car Painting as an individual participant. The competition, held every two years, serves as a platform for young talents to showcase their skills at regional and national levels. TTTI, in collaboration with NSDC, extends its support to foster skill development at grassroot level among the youth, aligning with the vision of the Ministry of Skill Development and Entrepreneurship (MSDE).

TTTI participated and hosted four categories of the "Off-site" portion of the competition, held at YashoBhoomi Dwarka, New Delhi in categories including Manufacturing Team Challenge, Mechatronics, Car Painting, and Additive Manufacturing. The students of TTTI exhibited exemplary skills and dedication, bringing honour not only to the institute but also to the nation. The "Off-site" segment of the competition, under TTTI's stewardship, witnessed enthusiastic participation and spirited performances from contestants across the country. TTTI extended support in various areas including venue, infrastructure, machinery, consumables, and jury, ensuring the smooth conduct of the competition.

Speaking on the occasion, Ms. Monika Nanda – General Manager, Marketing and Communications, NSDC said, “I extend my heartfelt congratulations to the outstanding students of Toyota Technical Training Institute (TTTI) for their remarkable achievements at the IndiaSkills Competition 2024. Their exemplary skills and dedication are a testament to the effectiveness of TTTI's training programs. These winners not only bring honour to their institute but also enhance the reputation of Indian skill development on a global scale. We are confident that those selected for the WorldSkills Competition will continue this legacy of excellence and make India proud on the international stage.”

Expressing his thoughts, Mr. G. Shankara - Executive Vice President, Finance and Administration, Toyota Kirloskar Motor said, “We take immense pride in the remarkable achievements of the TTTI students at the IndiaSkills Competition 2024. We are happy on their successful journey and because of their hard work they have reached to this milestone. We thank Trainers, Faculty members & all the stake holders who have made us proud.  We wish all the best for the winners for their next journey towards World Skills Competition 2024 scheduled in Sep 24 at Lyon France to give their best performance. Through TTTI we reaffirm our commitment towards society for transforming rural youth into World Class competitive Technician and producing mass happiness for all & there by striving to align with national goals such as ‘Skill India’ and ‘Viksit Bharat 2047’. They are in perfect harmony with our mission of 'Producing Happiness for All' by imparting our knowledge and cultivating young individuals into globally competitive technicians.

Furthermore, TTTI is delighted to announce that the top contestant from IndiaSkills Competition will represent India at the prestigious WorldSkills Competition in Lyon, France, scheduled between 10th to 15th September 2024. The WorldSkills Competition, initiated in 1950, serves as a global platform for skills excellence and development through international cooperation. India's participation in previous editions has showcased the country's talent and potential on the global stage.

Since its inception in 2007, TTTI has been committed to providing advanced technical education and fostering overall development among rural youth. The planned increase in student intake reinforces TKM’s commitment to empowering economically challenged students, creating world-class technicians, enhancing societal development, and employment. One of the recent initiatives to promote admission of female students, 'Toyota Kaushalya,' has been well-received by students. It offers a unique opportunity for youth to acquire skills relevant to the manufacturing industry, combining theoretical learning with on-the-job training (OJT) enhancing their employability. Furthermore, many of our employees after been trained at TTTI and TKM get the opportunity to be trained in Japan to gain hands on experience in global environment.

About IndiaSkills Competition

IndiaSkills Competition is organised by National Skill Development Corporation (NSDC), an apex skill development organisation working under the Ministry of Skill Development and Entrepreneurship (MSDE). IndiaSkills, the country’s biggest skill competition, is designed to demonstrate the highest standards of skilling and offers a platform to young people to showcase their talent at national and international levels. IndiaSkills Competition—regional and national—is held every two years with the support of state governments, industry, Sector Skill Councils (SSCs), State Skill Development Missions (SSDMs), corporates and partner institutes. IndiaSkills Competition has the potential to reach the grassroot level and make an impact.

About World Skills Competition

Initiated in 1950, the World Skills Competition is the global hub for skills excellence and development through international cooperation and development. It is the global meeting place for government, education, industry, and association leaders to discuss relevant and important issues related to skills management.

In 2019, the competition saw participation from more than 1300 competitors from 75 countries challenging each other in 56 skill sets. India took part in 45 skills winning 1 Gold, 1 Silver, 2 Bronze and 15 Medallions of excellence in respective categories. The team consisted of 46 talented young minds who showcased their best performance since India began to take part in the competition in 2007. The participants were selected through a nationwide screening process under the guidance of the National Skill Development Council (NSDC).

Socomec Unveils The “DELPHYS MX Elite+ UPS”, High-Peformance Solution For Critical Power Needs

Key Features:

Embedded Galvanic Isolation Transformer: Ensures exceptional load protection and high availability under all conditions.

Robust & Resilient Design: Ideal for industrial environments, featuring mechanical and electrical robustness for uninterrupted operation. Additionally, its three-proof paint extends the service life of printed circuit board assemblies (PCBAs), enhancing overall durability and reliability.

User-Friendly Operation: Simplified interface with a 10-inch colour touch screen and LED interface for intuitive control.

Cost-Effective Equipment: Designed for efficiency and longevity, reducing the total cost of ownership over the lifespan of the UPS.

Socomec, a leading global specialist in LV power management solutions, has unveiled the “DELPHYS MX Elite+ UPS”, featuring a robust IGBT architecture designed to excel in demanding environments such as harsh industrial settings and critical sectors like Processing Industries, Infrastructure, Healthcare, and IT applications. This three-phase transformer-based UPS, available in capacities ranging from 160 to 600 kVA, and capable of parallel operation with up to 6 units, reflects Socomec's commitment to delivering superior performance, reliability, and cost-effectiveness.

The DELPHYS MX Elite+ UPS offers a suite of advanced capabilities to enhance performance and efficiency. It operates permanently in VFI (Voltage and Frequency Independent) mode, ensuring a reliable and consistent power supply through online double conversion. With its high short-circuit current capacity, this UPS facilitates downstream distribution and allows for optimal selection of protective devices. Additionally, the soft start capability enables seamless operation with DG (Diesel Generator) sets, ensuring compatibility in diverse settings and enhancing overall system reliability.

The DELPHYS MX Elite+ UPS delivers exceptional efficiency, reaching up to 99% in ECO Mode, ensuring optimal energy utilization and cost savings. It comes equipped with a comprehensive suite of communication options, including RS485, RS232, and WEB/SNMP management cards, enabling seamless integration and monitoring across diverse systems. Moreover, the UPS adheres to rigorous safety standards, compliant with IEC 62040-1, IEC 62040-2, and IEC 62040-3, guaranteeing reliability and performance in critical power applications.

While speaking about the introduction of the Delphys MX Elite+ UPS, Meenu Singhal, Regional Managing Director, Socomec Innovative Power Solutions, Greater India says, " This upgraded version of our successful DELPHYS MX series is a testament to our dedication to meeting evolving customer needs. With industry-leading efficiency in ECO Mode and robust communication capabilities, this UPS sets a new standard for reliability and performance in critical power applications, while ensuring compliance with stringent safety standards."

Socomec offers comprehensive services to maximize UPS availability ranging from Preventive Maintenance Visits, 24-Hour On-Site Repairs and Training Packages. The DELPHYS MX Elite+ UPS is available immediately ensuring prompt delivery and service across India. 

How Generative AI Could Help Indian Workers To Save 51 Million Hours A Week By 2026

New research from Pearson, the world’s leading learning company, shows the massive potential of Generative AI to boost workplace productivity by helping Indian workers to save 51 million hours a week on the routine and repetitive tasks that often fill their day and lead to burnout. 

The latest instalment of Pearson’s Skills Outlook series, ‘Reclaim the Clock: How Generative AI Can Power People at Work’ - looks ahead to 2026 and identifies the top 10 job tasks with the most time saved by using the technology, in five countries (Australia, Brazil, India, UK and US).

Pearson’s workforce planning platform, powered by generative AI, finds that the work Gen AI can most effectively support is focused on tasks related to maintaining records, data collection, or researching and compiling information for others.

The ten work tasks with the most hours saved by Gen AI by 2026 in India are: 

1.       Promote products, services, or programs (4,386,799 hours)

2.       Collect data about consumer needs or opinions (3,874,794 hours)

3.       Develop marketing or promotional materials (3,513,913 hours)

4.       Identify business or organizational opportunities (3,219,578 hours)

5.       Explain technical details of products or services (3,095,700 hours)

6.       Maintain current knowledge in area of expertise (2,625,409 hours)

7.       Maintain operational records (2,602,099 hours)

8.       Communicate with others about operational plans or activities (1,798,296 hours)

9.       Examine materials or documentation for accuracy or compliance (1,575,060 hours) 

10.   Evaluate the quality or accuracy of data (1,568,961 hours)

By augmenting basic tasks with generative AI, companies and their workers can reallocate time to focus on the high-value work that humans do best: strategic thinking, collaboration, caring for others, decision-making, innovation, problem-solving, empathy, and leadership. 

At an individual level, even small amounts of time saved with Generative AI can help people feel more in control of their job and achieve a better work-life balance. 

Oliver Latham, VP of Strategy and Growth for Pearson Workforce Skills, said: “In nearly every workplace, people spend their day on common, time-consuming tasks that eat away at productivity or their work-life balance. If those tasks could be augmented with generative AI, employers and their workers could reallocate time to the things that need a more human touch and mean more to their customers. Employers should consider how to incorporate this new technology into their teams and redesign roles to free people up to focus on more valuable, human tasks. They should also consider the need for training and support for employees, so they can use it effectively and responsibly.”


At Pearson we believe that the future of work can be one where people and Gen AI can collaborate by using AI as a tool to enhance human potential. For this study, Pearson used census and other workforce datasets to create a single view of the current workforce in the US, UK, Australia, India and Brazil. Using Pearson’s proprietary occupations ontology of 5,600 jobs and 76,000 tasks, each job can be viewed as a collection of tasks. This allows our machine learning algorithms to calculate future technology impact at a task level.

Pearson looked at hours currently spent, countrywide, in India on work tasks each week, and then calculated what this would be in three years' time as Gen AI technology is adopted into the workplace.  We then identified the tasks which would have the greatest hours reduced by the technology (specifically LLM Chatbots and AI Text-to-Visual Media Generators).

About Pearson:

At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c. 18,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at

Astral Limited Launches Comprehensive New Paint Line As Astral Paints

Astral Limited, a leading innovator in the building construction segment and one of the fastest-growing building material company, is proud to announce the launch of its extensive new paint line, Astral Paints. The new exciting brand by Astral Limited offers a vast array of options to meet the needs of every painter, designer, and homeowner, featuring a diverse selection of colours, finishes, and specialized formulations.

After acquiring a majority stake in Gem Paints in 2022, Astral Limited thoroughly prepared to enter the paint industry. The company has strategically launched its first phase in Bengaluru, leveraging three state-of-the-art paint units. Moreover, the company will expand its paint line across India in phases, starting with Karnataka and Gujarat.

Mr. Sandeep Engineer, CMD of Astral Limited, stated, “The launch of Astral Paints marks a significant milestone in Astral Limited's journey. It's a strategic move to diversify and solidify our presence in the ever-evolving Indian market. Our deep understanding and extensive experience within the building materials ecosystem give us a distinct advantage. We are confident that Astral Paints will revolutionize the industry with its versatile paints, extensive colour options, and unwavering focus on quality. Paints have always held a special place in my heart, stemming from my father's association with the industry. We embody Astral's core value – 'TRUST' – and deliver on our promise: 'The trust of Astral, now in Paints.”

Mr. Saumya Engineer, CEO of Astral Adhesives & Paints, added, “We are launching Astral Paints not merely to add a feather in Astral Limited’s cap, but to establish it as a leading business within the Astral Group. Our consistent and strategic approach has proven successful with our other ventures such as adhesives, construction chemicals, and bathware, and we will maintain this same momentum with paints. While we are not in a rush to go pan-India, we will strategically and incrementally introduce our products into different markets, with the aim of covering the entire country within the next three years.”

Astral Paints is designed to cater to a broad spectrum of applications, ensuring there is a perfect solution for every project. The range includes decorative paints for interior and exterior emulsions in luxury, premium, and economy segments, under various product names: Elita, Esteema, and Styla for interior emulsions, and Extura Plus, Extura, and Raga for exterior emulsions. Additionally, Astral Paints offers a wide range of undercoats through primers and putties, synthetic enamels, and ancillary products like rollers and brushes.

Astral Paints also boasts an extensive colour palette, with over 1400 refreshing colours ranging from timeless classics to the latest trends, providing an unparalleled selection to bring any vision to life. Understanding consumer needs, Astral has also introduced specialty paints, such as Kitchen Special Paint, which features high durability and oil-resistant properties.

The company hosted a launch event at a leading hotel in Bengaluru that saw the attendance of over 300 channel partners and featured the presence of promoters, the Engineer family, alongside the senior Astral Limited team. The event witnessed enthusiastic participation from all attendees, with the Engineer family unveiling the ‘Astral Paints Logo’ followed by the launch of the ‘Astral Paints Product Range’.

Astral Limited, which recently celebrated 25 years in the building construction industry, has become a renowned household name across the nation. Originally, a pipes company, Astral quickly rose to become one of the leading pipe manufacturing company in India. In a short span, the company diversified into various product categories, including water tanks, adhesives, construction chemicals, waterproofing, and now paints.

About Astral Limited:

Entrusted in India, Making waves across the globe!

Astral Limited started its operations in 1998 from Ahmedabad, Gujarat by venturing into Polymer Pipes Manufacturing. Right from introducing CPVC piping in India to introducing many innovative piping solutions, Astral Pipes today offers the widest range of pipes and fittings for various applications including specialized products for infrastructure development. Astral also manufactures a wide range of water tanks available in various storage capacities.

Astral entered the Adhesives category in 2014 by acquiring Resinova Chemie Ltd. And the UK-based Seal It Services Ltd. Astral Adhesives manufactures a diversified range of adhesives, sealants, putties, and construction aids. Recently, Astral has forayed into the Faucets and Sanitary ware category as well as in the Paints category and is poised to introduce a product range to meet different consumer requirements.

Srinivas R. Kulkarni, An US Scientist And Brother Of Sudha Murty, Has Been Awarded The Prestigious Shaw Prize In Astronomy For 2024

Kulkarni, who serves as the George Ellery Hale Professor of Astronomy and Planetary Science at Caltech has been awarded the Shaw Prize in Astronomy for 2024 for his groundbreaking discoveries on millisecond pulsars, gamma-ray bursts, supernovae, and other transient astronomical phenomena. The award citation further states that Kulkarni's "contributions to time-domain astronomy culminated in the conception, construction, and leadership of the Palomar Transient Factory (PTF) and its successor, the Zwicky Transient Facility (ZTF), which have revolutionized our understanding of the time-variable optical sky."

One of his numerous accomplishments includes serving as the director of Caltech Optical Observatories from 2006 to 2018. Kulkarni’s pioneering work in time-domain astronomy, notably through the Palomar Transient Factory and the Zwicky Transient Facility, has significantly enhanced the understanding of the dynamic sky. The Shaw Prize Foundation stated, “The Shaw Prize in Astronomy is awarded to Shrinivas R. Kulkarni for his ground-breaking discoveries about millisecond pulsars, gamma-ray bursts, supernovae, and other variable or transient astronomical objects.”

Developed by the late Hong Kong philanthropist Run Run Shaw, the Shaw Prize consists of three annual awards in Astronomy, Life Science and Medicine, and Mathematical Sciences, each with a monetary award of USD 1.2 million.

This year marks the 21st time the prize been awarded. Run Run Shaw, who is known for his philanthropy in education, scientific research, healthcare, and the arts, established the Shaw Prize, sometimes called the “Nobel of the East,” The Shaw Foundation Hong Kong and The Sir Run Run Shaw Charitable Trust continue to support these areas.

Kulkarni’s career is distinguished by numerous notable achievements. As detailed in his biography on Caltech’s website, he received his Master of Science degree from the Indian Institute of Technology in 1978 and his PhD from the University of California in 1983. He led the Caltech Optical Observatories as director from 2006 to 2018, significantly advancing the field of observational astronomy. Kulkarni has received many awards, including the National Science Foundation's Alan T. Waterman Award and the Dan David Prize. He has also authored or co-authored more than 60 papers in the journal Nature by the age of 60.

Under Kulkarni’s guidance, the Palomar Transient Factory made several discoveries in astronomy. The Zwicky Transient Facility has continued this work, helped astronomers study, and understand transient cosmic events. These projects have allowed scientists to observe and analyse short-lived astronomical phenomena, greatly expanding our knowledge of the universe.

ICAI To Hold 2nd Edition of Startup Sphere Event From June 27-29 In Bengaluru; Aims To Facilitate Over USD 200 Mn Funding To Startups

·         More than 10,000 people from the startup ecosystem expected to Participate in the 3-day Event

The Institute of Chartered Accountants of India (ICAI) hosted a curtain-raiser press conference in Bangalore for the upcoming Startup Sphere 2024 event, scheduled from June 27th-29th, 2024, in Bengaluru, the "the tech city of India." The event aims to bring together the dynamic startup community, including partners, unicorns, leading influencers, founders, investors, leaders, and entrepreneurs, to discuss a broad range of topics related to the startup ecosystem. The goal is to raise awareness, foster idea generation, facilitate capacity building, and offer support for the growth of India's startup ecosystem.

Building on the resounding success of last year's inaugural Startup Sphere event in Mumbai, which saw an estimated USD 100 million commitment of funding from 60 pitches presented to 75 investors, this year's event is poised for even greater achievements.

Sharing insights about the Startup Sphere 2024 event, CA. Ranjeet Kumar Agarwal, President, ICAI said, “I am proud to highlight the remarkable growth of India's startup ecosystem, now the third largest globally. After the success of the inaugural Startup Sphere event in Mumbai last year, we have decided to hold the event in the tech and startup hub of the country, Bengaluru. The Startup Sphere 2024 is scheduled from 27th to 29th June, 2024. We are expecting to arrange more than USD 200 million funding this year. More than 10,000 people are expected to participate in this three-day event that aims to connect entrepreneurs and investors, wherein startups can share their ideas and get investments. The stakeholders can reach out to ICAI for regulatory compliance, advisory on financial management.”

President further added, “We have over 4 lakh members of which around 1.6 lakh Chartered Accountants are in practice. Rest 2.4 lakh members are working in every facet of the financial ecosystem, be it venture capital, investment finance and private equity, their expertise extends throughout contributing significantly to India's startup success story."

Sharing more details on the upcoming mega event, CA. Dheeraj Kumar Khandelwal, Chairman, Committee on MSME & Startup of ICAI, said, “The Startup Sphere 2024 event is set to feature 100 exhibitors and 200 startups pitching their innovative ideas to an estimated 100 investors from Bangalore alone. Representatives from over 100 ICAI branches across India will also attend along with eminent Ministers, unicorns, entrepreneurs, government officials. Notably, more than 15 unicorns are expected to participate, adding to the event's prestige and networking opportunities.”

The ICAI Startup Gateway is a testament to ICAI's dedication to promoting entrepreneurship, driving innovation, and empowering startups as key contributors to India's economic progress. The key focal point of Startup Sphere 2024 includes Emerging Trends in Startup Ventures, AI & Machine Learning for Startups, the Intersection of Technology and Entrepreneurship, Digital Transformation & Marketing for Startups, Block Chain and Data Mining etc.

ICAI stands as a steadfast supporter of startups, providing them with crucial resources, mentorship, and a nurturing environment for sustainable development. With a strong connection to the MSME sector, ICAI offers financial advisory services, project financing, and expertise in working capital management, among other valuable services. As a pivotal player in India's vibrant startup ecosystem, ICAI is committed to fostering the growth of startups and acknowledging their indispensable role in driving economic prosperity and fostering innovation.

The Startup Sphere 2024 event is supported by the Department for Promotion of Industry and Internal Trade (DPIIT) through the Startup India, Ministry of Electronics and Information Technology (MeitY), Software Technology Parks of India (STPI) and Karnataka Innovation and Technology Society (KITS). This collaborative effort underscores the shared commitment to fostering innovation, entrepreneurship, and economic growth in India. Through knowledge-sharing, networking opportunities, and strategic partnerships forged at this event, we aim to catalyze the development of startups and contribute significantly to India's vibrant entrepreneurial landscape.

About ICAI

The Institute of Chartered Accountants of India (ICAI) is a statutory body set up by an Act of Parliament under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. The Institute functions under the administrative supervision of the Ministry of Corporate Affairs. With around 8.6 lakh students and close to 4 lakh members, ICAI is the largest Professional Accountancy Body in the world. Today ICAI has a wide network of 5 Regional Councils and 176 Branches in India and a global presence with 50 Overseas Chapters and 31 Representative Offices spanning 81 cities across 47 Countries worldwide.

New India Assurance Reports 128.4% Growth In Profit After Tax In Q4FY24

Commenting on the results, Executive Director Mr. Titus Francis said, "New India Assurance" has delivered excellent results in FY24 despite adverse impact of several catastrophic claims during the year. The gross written premium grew by 8.3% during the year to Rs.41,996 Cr and profit after tax increased by 7% during the year to Rs.1,129 Cr. The PAT for the fourth quarter more than doubled as it increased by 128.4% to Rs.354 Cr. The solvency ratio remained healthy at 1.81x and the company continues to be the market leader in the Indian general insurance industry.

The impact of catastrophic claims on the net incurred claims during the year was "Rs. 794 Cr. During the 4th quarter, the results were adversely impacted by an impairment charge of ~Rs.110 Cr on the Nigerian operations due to devaluation of Naira. The net worth increased to Rs. 44,704 Cr compared to Rs.38,675 Cr in FY23. Even on individual lines, Motor third party loss ratio saw an increase as there was no premium increase during the year. This was marginally offset by decline in the loss ratio of Motor Own Damage segment where price corrections were factored. The health segment loss ratio remains elevated and corrective steps are being taken. Other lines did reasonably well. The Indian general insurance industry has a long runway for growth, and the company will continue its strategy to pursue growth with profitability."

Thursday, May 23, 2024

The BMW 220i M Sport Shadow Edition Debuts In Indian Market

Best-in-class performance paired with enhanced sporty appeal.

Blacked Out Kidney Grille and other design features for an even more dynamic look.

Exclusively available in two exciting colour options: Alpine White and newly introduced Skyscraper Grey.

Limited units exclusively available on BMW Online Shop

#BMW #The2 #BMW2GC #ShadowEdition #2Irresistible

The BMW 220i M Sport Shadow Edition has been launched in India today. Locally produced at BMW Group Plant Chennai, the limited edition is exclusively available at the BMW Online shop from today onwards.

The BMW 220i M Sport Shadow Edition is available at an attractive ex-showroom price of INR 46,90,000.

Price prevailing at the time of invoicing will be applicable. Ex-showroom prices inclusive of GST (incl. compensation cess) as applicable but exclude Road Tax, Tax Collected at Source (TCS), RTO statutory taxes/fees, other local tax cess levies and insurance. Price / options are subject to change without prior notice. For further information, contact an authorised BMW dealer. The BMW 2 Series Gran Coupé is available in two exciting colours - Alpine White (non-metallic) and Skyscraper Grey (metallic). The choice of upholstery combinations includes Black and Oyster.

Thanks to BMW India Financial Services, customized and flexible financial solutions are designed as per individual requirements. Customers enjoy great value and complete peace of mind with BMW 360? Finance Plan. It includes attractive monthly instalments, assured buy-back option up to five years, flexible term-end opportunities, and options to upgrade to a new BMW among other benefits.

The BMW 220i M Sport Shadow Edition

Enhanced exterior of the BMW 220i M Sport Shadow Edition provides a distinctive visual appeal with the Blacked-Out Kidney Grille. The standout characteristic is its stretched silhouette, four frameless doors and prominent shoulders with side taper at the C-pillar which gives it a sporty, low and broad-set stance. The newly introduced Adaptive LED Headlights ensure consistent illumination of the road ahead, even when cornering. The Adaptive LED Headlights are also available with M Lights Shadow Line specification with darkened inlays. The All-Black Rear Spoiler adds to the sporty visual appeal of the car. The BMW Floating hub cap features the BMW logo, which remains leveled at all times.

Despite its sporty appearance, the interior is designed to accentuate cabin spaciousness and the driver-focused cockpit with exquisite materials. The Sport Seats with electrical memory function and generous cabin space offer rear passengers an ample kneeroom for greater long-distance comfort. The exclusive Interior trim ‘Illuminated Berlin’ adds to the overall aesthetic feel. The Carbon Gear Selector elevates the feeling of sportiness inside the cabin. The large 430 litres luggage compartment can be expanded by folding down the 40/20/40 split rear seat backrest. The rear seat can be folded down completely to create more space. Ambient Lighting with six dimmable designs creates an atmosphere for every mood.

The car has front-wheel-drive architecture in which the engine is positioned transversely, thereby saving space without compromising on the driving dynamics. To reduce understeering, an ARB technology (actuator contiguous wheel slip limitation system) works in combination with DSC (Driving Stability Control). The BMW Performance Control system increases the stability of the car by targeted braking of the wheels.

BMW TwinPower Turbo petrol engine melds maximum power with exemplary efficiency and offers spontaneous responsiveness even at low engine speeds. The two-litre four-cylinder petrol engine produces best-in-class power output of 190 hp and a maximum torque of 280 Nm at 1350-4600 rpm. The car accelerates from 0 -100 km / hr in just 7.1 seconds.

The eight speed steptronic sport automatic transmission performs smooth, almost imperceptible gearshifts. At any time, in any gear, the transmission collaborates perfectly with the engine, enabling it to develop its full power and efficiency. For even greater driving pleasure, it comes with steering wheel paddle shifters and cruise control with braking function. Using the Driving Experience Control switch, the driver is able to choose between different driving modes to suit the driving conditions - ECO PRO, Comfort and Sport.

A host of BMW ConnectedDrive technologies continue to break the innovation barrier in automotive industry. Modern cockpit concept BMW Live Cockpit Professional includes 3D Navigation, a 12.3 inch digital instrument display behind the steering wheel and a 10.25 inch Control Display. The occupants can operate a number of car functions simply by speaking to their BMW Virtual Assistant. Hands do the talking with BMW Gesture Control that recognizes six pre-defined hand movements for control of a number of functions. The smartphone holder integrated into the centre console allows inductive, Wireless Charging for mobile phones. Parking Assistant with Rear View Camera makes parking in tight spots easier. The Reversing Assistant provides unmatched support in reversing out of a parking spot or through narrow driveways. It keeps a record of the last 50 metres driven and assists by taking over the steering. Wireless Apple CarPlay® ensures seamless smartphone connection with the car to access several functions.

BMW EfficientDynamics includes features such as 8-speed Steptronic Sport Automatic Transmission, Auto Start-Stop, Brake-Energy Regeneration, Electronic Power Steering, 50:50 Weight Distribution and ECO PRO mode in Driving Experience Control.

BMW Safety technologies include six airbags, Attentiveness Assistance, Anti-lock Braking System (ABS) with Brake Assist, ARB technology (actuator contiguous wheel slip limitation system), Dynamic Stability Control (DSC) including Dynamic Traction Control (DTC) and Electronic Differential Lock Control (EDLC), Cornering Brake Control (CBC), electric parking brake with auto hold, side-impact protection, electronic vehicle immobilizer and crash sensors, ISOFIX child seat mounting and integrated emergency spare wheel under the load floor.

Tata Motors’ Subsidiaries - TPEM And TMPV Join Hands With Bajaj Finance, Offers Financing Program For Authorized Passenger And Electric Vehicle Dealers

In a bid to improve options and ease of financing for the dealers, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, India’s leading automotive manufacturer, have joined hands with Bajaj Finance, part of Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to extend supply chain finance solutions to its passenger and electric vehicle dealers. Through this memorandum of understanding (MoU), the participating companies will come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral.

The MoU for this partnership was signed by Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd.

Commenting on the partnership, Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd., said, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers. To that effect, we are excited to partner with Bajaj Finance for this financing program, which will further strengthen the access of our dealer partners to increased working capital.”

Speaking on this partnership, Mr. Anup Saha, Deputy Managing Director, Bajaj Finance Ltd, said, “At Bajaj Finance, we have always strived to provide best-in-class processes by using the India stack for financing solutions that empower both individuals and businesses. Through this financing program, we will arm TMPV and TPEM’s authorized passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market.  We are confident that this collaboration will not only benefit dealers but also contribute to, and enhance the growth of, the automotive industry in India.”

TMPV and TPEM have been pioneering the Indian automotive market with its groundbreaking efforts it both ICE and EV segments. The company’s overarching New Forever philosophy has led to the introduction of segment leading products which are being appreciated by consumers at large.

Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at Rs 3,30,615 crore.

Digital Connexion And DE-CIX Accelerate Enterprise Digital Transformation In India With High-Speed Connectivity Offerings

 * DE-CIX PoP at MAA10 enhances network performance, simplifies interconnections to network, cloud, and content providers in India and across the world

Digital Connexion, a full spectrum provider of highly-connected and scalable data center, colocation and interconnection solutions, and DE-CIX India, the largest carrier and data center neutral internet exchange (IX) operator in the Indian market, today announced a strategic partnership to provide internet peering and interconnection services to Indian enterprises. As part of this collaboration, DE-CIX has established a new point-of-presence (PoP) at Digital Connexion’s state-of-the-art MAA10 data center in Chennai.

The strategic partnership between DE-CIX and Digital Connexion brings significant benefits to enterprises, cloud and content providers, and internet service providers (ISPs) in the southern India region. Companies hosted at MAA10 can now take advantage of expanded high-speed interconnection capabilities with enhanced network performance, cloud connectivity and internet peering services. DE-CIX’s presence at MAA10 will also address low-latency edge requirements and ensure seamless content delivery to the last mile through a robust footprint of networks. This will empower enterprises to accelerate their digital transformation and elevate the customer experience.

With DE-CIX’s multi-service interconnection platforms, customers can now access a range of services including connectivity to hundreds of local carriers, ISPs, and content and application providers, without having to establish direct, separate connections with each network. With DE-CIX DirectCLOUD, Digital Connexion customers can reach global cloud providers including Microsoft Azure, AWS, Google Cloud, and others through a single point, thereby eliminating direct connection costs. Moreover, MAA10 customers will also have access to a global data center platform through Digital Realty’s PlatformDIGITAL®.

CB Velayuthan, Chief Executive Officer of Digital Connexion said, “With the Indian economy undergoing digitisation across many sectors, the demand for next-generation infrastructure has become paramount. Through our partnership with DE-CIX, we enable this digital transformation in a way that is efficient, dynamic, and well-positioned for future growth. Aligning to our vision of creating a data meeting place for digital communities, this collaboration offers our customers a variety of interconnection services and single-hop direct connectivity to multiple cloud providers, fostering a connected ecosystem.”

Sudhir Kunder, Chief Business Officer of DE-CIX India said, “We are excited to be expanding and adding a great new partner, Digital Connexion. The collaboration offers the market a new and ideal diverse solution, as well as a great place for both enterprises and ISPs to leverage connections to a leading carrier-neutral global data center platform with the most cost-effective and efficient interconnection options available in the market. This partnership will be the fourth PoP for DE-CIX Chennai, which brings the total to 20 PoPs pan India.”

About Digital Connexion: A Brookfield, Jio and Digital Realty Company

Digital Connexion is a joint venture (JV) between Brookfield Asset Management (Brookfield), Reliance Industries Limited and Digital Realty. The company provides the full spectrum of highly connected and scalable data center, colocation and interconnection solutions to meet the critical infrastructure needs of enterprises and digital services companies in India, and brings together enterprises, network service, cloud and IT providers to give customers and partners a key connectivity gateway to Europe, the Middle, East, Africa and Asia. The JV combines the complementary strengths of Jio’s massive digital and connectivity ecosystem in India and tech capabilities with Brookfield, one of the largest owners and operators of critical global infrastructure, and Digital Realty, provider of the world’s largest data center platform enabling customers with access to over 50 metros across 6 continents.

About DE-CIX

DE-CIX India is the Largest Internet Exchange in the country, focusing on providing Premium Interconnection Platform Services and Operating a wide range of Carrier and Data-Center Neutral Exchange, as well as Interconnecting a large number of Internet Service Providers (ISPs), Content Delivery Networks (CDNs), Over The Top (OTT) players, DNS root servers, national and international Telco’s networks, and Social Media Networks in all major metropolitan areas. DE-CIX India is powered by DE-CIX, operator of the World's Largest Internet Exchange in Frankfurt (Germany), with 22 terabits per second of data throughput. DE-CIX India is a Data Centre and Carrier Neutral Internet Exchange with a Nationwide Licence and the only Legally Compliant Service Provider in India.DE-CIX India operates four Internet Exchanges in India, including Mumbai, Delhi, Chennai, and Kolkata.

Wednesday, May 22, 2024

MAI Labs Unveils MayaaVerse, Bets Big On Immersive Technology

·       MAI Lab introduces an immersive tech platform, embedded with AI, that is set to transform the global creator economy.

MAI Labs, a leader in the deep tech known for its innovative, immersive, and regulatory technologies, proudly announces the launch of MayaaVerse. This state-of-the-art immersive tech platform is embedded with AI and engineered to revolutionize human interactions and creativity within digital realms, offering unparalleled virtual immersion.

According to a report by Mckinsey, the immersive tech domain presents a vast opportunity, projected to generate up to $5 trillion by 2030 across consumer and enterprise applications. With significant investments already pouring in, it is poised to revolutionize both commercial and personal spheres, impacting our lives profoundly.

MAI Labs is backed by global investors who have committed over $17.5 million at a valuation of 250 million so far. Additionally, the next 50 million is being raised at a valuation of half a billion dollars.

"MayaaVerse represents a milestone in MAI Labs' mission to redefine human-computer interaction and unlock creativity within immersive environments. This advancement marks the next stage of interaction—a seamless fusion of the physical and digital worlds. Our goal is to revolutionize the creator economy by offering an innovative platform that empowers creators to develop, collaborate, and monetize their digital content in new and transformative ways using immersive technologies and AI. Given the immense potential we see, we are confident in our decision to make a significant investment in this technological arena,” stated Tapan Sangal, Lead Visionary at MAI Labs.

Key Features of MayaaVerse:

·       Immersive Virtual Reality Technology: Utilizing advanced VR technology and AI, MayaaVerse delivers photorealistic environments that seamlessly merge the digital with the physical world.

·       Render Stream Technology: Our innovative Render Stream Technology allows users to experience photorealistic content without the need for high-end systems. This technology enables the streaming of high-quality virtual environments to any device equipped with basic hardware and internet connectivity, ensuring accessibility and seamless user experiences across a broad range of devices.

·       MAICity: The Heart of MayaaVerse: Situated at the core of MayaaVerse, MAICity is our pioneering realm, covering a vast 100 square kilometers with 17,000 interconnected worlds. This virtual city is crafted true scale with meticulous attention to detail and realism, featuring a variety of spaces such as architectural marvels, universities, retail hubs, educational facilities, and entertainment venues.

MAICity is designed as a dynamic, user-directed environment where each experience is carefully curated, allowing users to navigate and choose their own paths of exploration. This vibrant virtual city embodies our vision of creating the next version of internet, where every interaction is an opportunity for discovery and innovation.

·       Empowerment of Creators: MayaaVerse provides a dynamic platform for creators to showcase, protect, share, and monetize their digital creations, fostering global collaboration and recognition.

·       Diverse Virtual Experiences: MayaaVerse goes beyond dynamic events and retail; it integrates learning and development modules, interactive workshops, meditative interactions, and various immersive experiences that cater to all facets of digital engagement.

As MAI Labs continues to push the boundaries of immersive technology, MayaaVerse stands as a testament to our commitment to innovation and excellence, offering users a glimpse into the future of virtual reality and human experience.

About MayaaVerse:

MayaaVerse is dedicated to delivering more than just a concept—it’s a comprehensive immersive technology platform imbedded with AI, accessible to everyone. By empowering individuals and organizations to create, experience, and monetize in unprecedented digital environments, MayaaVerse is setting new standards in immersive experiences.

About MAI Labs:

MAI Labs is a deep tech company committed to democratizing and empowering users worldwide with accessible, innovative, and cutting-edge technologies. With a presence in the United States, India, Mauritius, Singapore and Dubai, MAI Labs leads a portfolio of ventures including MayaaVerse, MyIPR, and NIFTIQ among others, all dedicated to democratizing access and providing creative, immersive solutions.

Saadiyat Cultural District Abu Dhabi: Is On Track For 2025 Completion, Showcasing Abu Dhabi’sCcommitment To Culture

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has today reaffirmed that Saadiyat Cultural District, along with its cultural institutions, is on track for completion in 2025.

Saadiyat Cultural District is a global platform, emanating from a rich cultural heritage, celebrating traditions, and advancing equitable culture. It is an embodiment of empowerment, showcasing museums, collections, and narratives that celebrate the region’s heritage while promoting a diverse global cultural landscape.

Once completed, the diversity of Saadiyat Cultural District’s institutions will make the district one of the most unique cultural platforms. It is already the home of Louvre Abu Dhabi – the first universal museum in the Arab world – showcasing artworks from different cultures side by side and telling a story of human connections. Since opening in 2017, Louvre Abu Dhabi has welcomed 5 million visitors and is recognised for its breathtaking architecture and its innovative narrative. Nearby, Berklee Abu Dhabi offers music, performing arts and educational programmes throughout the year.

Additionally, Manarat Al Saadiyat serves as a centre for creative artistic expression and is home to two significant initiatives in Abu Dhabi’s cultural calendar: Abu Dhabi Art and Culture Summit Abu Dhabi.

The current construction progress of the soon-to-open institutions in Saadiyat Cultural District stands at 76%. Zayed National Museum, the national museum of the United Arab Emirates, will celebrate the nation’s rich history and culture, as well as honour the legacy of the country’s founding father, the late Sheikh Zayed bin Sultan Al Nahyan. Additionally, teamLab Phenomena Abu Dhabi invites visitors on an ever-changing exploration that will transcend the limits of their imagination.

It will be joined by the Natural History Museum Abu Dhabi, which will include a research and teaching institution that will take visitors on a 13.8 billion-year journey through the story of our universe and our planet. Guggenheim Abu Dhabi will be a museum celebrating art from the 1960s to the present and the most important artistic achievements of our time.

Saadiyat Cultural District pays homage to the legacy of the late Sheikh Zayed, who defined the cultural agenda and unveiled the history of the UAE to the world through archaeological excavations and findings. This legacy began with the establishment of Al Ain Museum, the first museum in the UAE, which opened in 1971. This was followed with the inauguration of the Cultural Foundation in 1981. Sheikh Zayed’s legacy continued to evolve under the guidance of the late Sheikh Khalifa Bin Zayed Al Nahyan. Today, HH Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and HH Sheikh Khaled bin Mohamed bin Zayed, Crown Prince of Abu Dhabi continue to build on that legacy.

HE Mohamed Al Mubarak, Chairman of DCT Abu Dhabi, said: “Culture transcends mere connections; it shapes our very evolution and broadens our perspectives. Here in Abu Dhabi, we embrace this influence, fostering a deep appreciation that resonates throughout our community. Saadiyat Cultural District embodies ‘cultural hope’. The District will convey a message of cultural diversity that will become more powerful over time, creating global connections, inspiring cultural exchange, and fostering new ways of thinking to support the region, the global South and the world. Saadiyat Cultural District is somewhere people can come to learn from the past, understand our present and focus on our future.”

Saadiyat Cultural District is a testament to Abu Dhabi's commitment to preserving heritage while embracing a forward-looking vision. The District invites the world to engage with diverse cultures, fostering dialogue and exchange, and offers a global cultural space that empowers the region and the global south.

DCT Abu Dhabi has also launched a compelling campaign titled ‘Be Moved in a Thousand Ways’, introduced by philanthropist, talk show host and author Oprah Winfrey. The campaign film delivers an inspirational message on the transformative power of culture to unite, inspire, and open minds. Contributors to the campaign include HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi; HE Zaki Anwar Nusseibeh, Cultural Adviser to the President of the UAE and Chancellor of the United Arab Emirates University; HE Noura bint Mohammed Al Kaabi, Minister of State at the Ministry of Foreign Affairs UAE; Lord Norman Foster, Pritzker Architecture Prize-winner and architect of the Zayed National Museum; Mariët Westermann, Director and CEO of the Solomon R. Guggenheim Museum and Foundation, celebrated artists Mohammed Ibrahim, Najat Makki, Afra Al Dhaheri from the UAE; multi award winning Actor, Musician and Entrepreneur Idris Elba OBE; legendary pianist Lang Lang and many more.

About the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi)

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.

By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies, and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives, and creative thought.

For more information about the Department of Culture and Tourism – Abu Dhabi and Saadiyat Cultural District, please visit:; and

About Saadiyat Cultural District

The Saadiyat Cultural District is one of the world’s preeminent global destinations, which brings together diverse culture and fosters knowledge and understanding through its museums, educational and cultural institutions. The anchoring museums of the Saadiyat Cultural District encompass natural history, cultural heritage, and contemporary creative expression, and are places that collectively tell the story of the United Arab Emirates, the world, and the connections that have fostered creativity and innovation for millennia.

The Saadiyat Cultural District is a place of cultural dialogue and a centre for the creation of knowledge, attracting local, regional, and international visitors and making a lasting impact on the world.   

Narayana Health City Advances Cancer Care With Landmark CAR T-Cell Therapy Success

-          Breakthrough CAR T-cell Therapy proves life saving for South India’s first patient

Narayana Health City, Bangalore recently held a press conference to celebrate a remarkable victory against cancer, highlighting the institution's strides in advancing cancer care. Hamza Khan, a 42-year-old man from Bangalore, triumphed over relapsed follicular lymphoma, a cancer of the lymph nodes, following a challenging journey that began in 2020 amidst the COVID-19 pandemic. Notably, Hamza is the first patient in South India to receive the novel CAR T-Cell therapy – a breakthrough in cancer treatment.

Initially diagnosed in 2020, Hamza's condition required multiple rounds of chemotherapy and maintenance with rituximab. Despite these efforts, his cancer relapsed in February 2022, leaving him with few viable treatment options. Standard chemotherapy and an autologous stem cell transplant proved ineffective, and his prognosis worsened following a severe COVID-19 infection.

In September 2022, with traditional therapies failing and his disease progressing, Hamza was considered for cutting-edge immunotherapy known as CAR T-cell therapy, initiated by IMMUNEEL in Bangalore. Under the expert care of Dr. Sharat Damodar, Senior Consultant Haematologist and Head of Adult BMT at Narayana Health City, a team of doctors swiftly administered CAR T therapy in November 2022.

CAR T therapy, or Chimeric Antigen Receptor T-cell therapy, is a ground breaking form of immunotherapy used primarily to treat certain types of cancer, particularly blood cancers like leukemia and lymphoma. The therapy involves modifying a patient’s own T-cells, a type of white blood cell that plays a central role in the immune response, to better recognize and attack cancer cells. Remarkably, Hamza experienced minimal side effects and achieved remission, crossing the significant milestone of one year post-treatment without relapse.

"CAR T-Cell therapy has revolutionized the landscape of cancer treatment, offering a lifeline to patients who have exhausted conventional options," said Dr. Sharat Damodar. "This case exemplifies the potential of CAR T-Cell therapy to provide durable remission in relapsed lymphoma."

Follicular lymphoma is a prevalent yet aggressive form of cancer, often proving resistant to standard therapies. The recent approval of CAR T-Cell therapy by the Drug Controller General of India (DCGI) for commercial use represents a significant advancement, especially for patients with relapsed and refractory cancers.

Grateful for his second chance at life, Hamza Khan expressed his profound gratitude, saying, “Thanks to the expert care, I could undertake the Haj pilgrimage. I have fully recovered because of this innovative intervention and the life-saving therapy that I received.”

This groundbreaking success heralds a new era in cancer treatment, providing hope to countless patients facing relapsed cancers. Narayana Health City is at the forefront of these advancements, ensuring that world-class treatment options are accessible within India.

"We are immensely proud of the strides made in cancer treatment at Narayana Health City," said the Hospital’s Facility Director. "Our commitment to adopting cutting-edge therapies like CAR T-Cell underscores our dedication to offering the best possible care and hope to our patients."

Narayana Health City, Bangalore’s continuous efforts to integrate innovative treatments reflect its mission to lead the way in cancer care, offering patients not only advanced medical solutions but also renewed hope for a healthier future. 

“The Great Indian Wallet” Study By Home Credit India Reveals Surging Confidence In Financial Well-Being

36% respondents showed interest towards using ‘Credit on UPI’ and 11% respondents showed interest in using UPI Lite in near future. However, 83% respondents said they would stop using UPI if the service becomes chargeable.

35% affirmed that they hear/see online financial frauds happening around, 16% have been victims of online fraud, 39% receive hoax calls/messages that are triggered with an intent to commit financial fraud.

In Bengaluru, average personal monthly income stands at 38k in 2024 vi-a-vis 35k in 2023; while fixed monthly expenses stands at 22k in 2024 vi-a-vis 17k in 2023.

When it comes to essential monthly expenses, people in Bengaluru spend the most on grocery (25%), rent (22%), commute (17%), children’s education (23%), medicals (5%), electricity (3%), cooking gas (3%), and mobile (2%).

74% of consumers expect their incomes to increase by next year, and about two-thirds claim that they will be able to save more (66%) and invest more (66%) in the coming year

Home Credit India (HCIN), a local arm of the leading global consumer finance provider, released the second edition of its in-house annual consumer survey – The Great Indian Wallet Study: Consumer behaviour towards key financial aspects.

The Great Indian Wallet study was conducted across 17 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, Pune, Lucknow, Jaipur, Bhopal, Patna, Ranchi, Chandigarh, Dehradun, Ludhiana and Kochi. The sample size was approx. 2500 in the age group of 18-55 years, with an annual income between Rs. 2 lakhs to Rs 5 lakhs.

Speaking on the findings, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said: “The Great Indian Wallet study serves as our compass, guiding us through the intricate landscape of consumer financial behaviour each year. By delving into the underlying behavioural trends, we gain valuable insights into household financial stability and the potential risks associated with technology in financial transactions. This year’s study reflects an upswing in the overall Financial Well-Being among urban and semi-urban consumers due to the strong economic growth, providing a clear insight into consumer sentiments, spending patterns, and saving habits among various demographics and segments.”

As per The Great Indian Wallet study, the Financial Well-Being Index among urban and semi-urban consumers has increased over last year, both in terms of current status and future perception. 52% of the consumers said that their income increased in the current year over last year, while 74% of consumers expects their income to increase by the coming year. About two-thirds claim that they would be able to save more (66%) and invest more (66%) in the coming year. This buoyancy in consumer sentiment is fuelled by the upward growth trajectory in the economy, an increase in earning capacity, and a positive perception of income growth.

Regionwise, in 2024, the average personal monthly income in Bengaluru is 38k, compared to 35k in 2023, while fixed monthly expenses have risen to 22k from 17k. Despite these increased expenses, 88% of respondents were able to save more in 2024, the highest among metros and Tier 2 cities. Essential monthly expenses in Bengaluru are primarily on groceries (25%), rent (22%), children's education (23%), commute (17%), medical expenses (5%), electricity (3%), cooking gas (3%), and mobile bills (2%). Bengaluru, along with Kochi, spends the highest on children's education (23%) and the least on electricity (3%) compared to other metros. Discretionary spending trends include local travel and sightseeing (35%), dining out (18%), movies (14%), fitness (4%), and OTT apps (4%).

Over the last six months, 69% spent on clothes and accessories, 68% on outstation travel, 18% on electronic devices, and 22% on home décor and 33% on home appliances. Financial security concerns are noted, with 35% aware of online frauds, 16% having been victims, and 39% receiving hoax communications. Interest in 'Credit on UPI' is shown by 36%, and 11% are interested in UPI Lite, but 83% would stop using UPI if it became chargeable.

Meanwhile, on national level, the study further shows that the average of Personal Monthly Income in 2024 stands at 35k for Metros and 32k for Tier 1 & 2 cities, showing an increase from 33k (Metros), 30k (Tier 1), and 27k (Tier 2) in 2023. Among Metros and Tier 1 cities, Bangalore, Hyderabad, and Pune emerged as pivotal hubs, offering newer and better prospects for consumers seeking advancement. These cities witness rise in income levels, with Bangalore and Hyderabad leading with incomes 15% and 33% higher than the national average, respectively.

The study also provides an overview of the income and expenses among lower-middle-class individuals in 2024. On average, the personal monthly income of lower-middle-class individuals is around 33K, while monthly expenses stand at 19K in 2024. The growth in income over the past year has kept pace with the increase in expenses.

In terms of Wallet Share, the study revealed that Grocery (26%) and Rent (21%) continues to be the primary expenses dominating the wallet share of the average lower-middle-class Indian. This is followed by Commute (19%), Children’s Education (15%), Medical Expenses (7%), Electricity Bills (6%), Cooking Gas (4%), and Mobile Bills (2%).

As for Discretionary Spends, distinct spending patterns among different demographics could be seen.  Chennai leads in local travel/sightseeing (59%), eating outside (54%) and watching movies outside (55%) when compared to other metros. Lucknow, on the other hand, is the lowest spender on local travel/sightseeing (17%) and eating outside (14%). Chennai also pays the highest rent (29%), while Kolkata and Jaipur pay the lowest (15%). Ahmedabad and Dehradun spend the least on fitness (1%). Bengaluru & Kochi spends the most on children’s education (23%). Dehradun tops in medical expenses (13%) but spends the least on children’s education (10%).

The study also indicates that in the last six months, almost 60% of people had purchased fashion products like apparels and accessories, with Gen Z showing a greater inclination towards purchasing fashion products and electronics.

Household Expenses witness a notable uptick, with an average increase of 6%. In households with more than one earning member, the chief wage earner (CWE) contributes ~80% of the total household expenses, while non-CWE contributes ~20%. In the study, 42% of the women are CWE in their respective households.

In terms of Savings, ~60% of consumers prioritise building a cash reserve to address emergency expenses after covering their monthly fixed expenses. According to the study, Men (62%) outpace Women (50%) in savings. Similarly, Gen Z (68%) demonstrates a stronger inclination towards savings than Millennials (62%) and Gen X (53%). Regionally, consumers from the East exhibits higher savings rates (63%) compared to those from the West (61%), South (59%), and North (59%). Furthermore, metros led in savings, with 62% of urban consumers prioritising savings over Tier 1 (61%) and Tier 2 (54%) cities.

As per the study, one-fifth of consumers; (21%) have been victims of Financial Fraud. Cities such as Delhi, Kolkata, Hyderabad, and Pune report a higher prevalence of financial fraud incidents. Men, Gen Z, and consumers from the North recalled receiving frequent fraudulent calls and messages over the past months. The study also revealed that 19% of consumers store their financial data on their smartphones, while 24% shared such sensitive data with their friends and family, indicating a complacent approach to data security. Interestingly, Women, Gen Z, and residents of the South region exhibit higher levels of complacency in this matter.

In the realm of digital transactions, UPI (Unified Payments Interface) remains a focal point, warranting heightened vigilance and security measures to mitigate the risk of financial fraud. The study indicates that 72% are current users of UPI, with most usage among men, Gen Z, and metro residents. Notably, UPI usage is the highest in Chennai (90%) and lowest in Ahmedabad (58%).

Furthermore, the study shows that 42% of consumers, especially men, Gen Z and Tier 1 consumers, expressed interest towards using Credit on UPI. Interestingly, the reasons to use “Credit on UPI” includes reduced timeframe in taking loans (53%), ease of payments at retail stores (44%), probability of getting better offers (23%), and lesser charges (16%). 

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