Aakash Educational Services Limited Appoints- Deepak Mehrotra As New “Managing Director And CEO”

Aakash Educational Services Limited (AESL), a leader in test preparatory services, has appointed Deepak Mehrotra as its Managing Director (MD) and Chief Executive Officer (CEO). The decision comes at a pivotal moment for AESL, as it continues to innovate and expand its offerings in the competitive landscape of educational services.

Shailesh Haribhakti, The Chairman of AESL, expressed his delight in having Deepak on board to steer the company at this critical juncture. “Deepak's appointment as the new leader of AESL marks an exciting milestone for our organization. His strategic vision and proven operational expertise will be instrumental in solidifying our position as an industry leader,” he said.

Byju Raveendran, Founder, BYJU'S, echoed the sentiment, stating, “As we enter the next phase of growth, it’s our pleasure to welcome Deepak to lead Aakash. His business acumen and stellar record as the Managing Director for Pearson India will be pivotal in leading Aakash into its next phase of growth and impact.”

Deepak Mehrotra, an accomplished leader with a proven track record in the FMCG, Telecom, and Education industries, has been appointed as the Managing Director and CEO of AESL. With over 35 years of experience in executive roles, Mehrotra brings a wealth of knowledge and expertise to drive AESL's vision forward and capitalize on emerging opportunities in the education sector. Prior to joining AESL, he was the Managing Director at Ashirvad pipes. He has also worked at Pearson India, Bharti Airtel, Coca-Cola, and Asian Paints.

Deepak has a Bachelor's degree in Electrical Engineering from IIT Roorkee, an MMS from JBIMS, and has completed an Executive program from The Wharton School, Philadelphia (USA).

Commenting on his appointment, Deepak Mehrotra expressed his enthusiasm for leading AESL into its next phase of growth. He emphasized the importance of leveraging technology and modern teaching methodologies to enhance the learning experience for students across the country. "I am honored to join AESL, a pioneer in the education sector, and look forward to working closely with the talented team to deliver quality education and empower students to achieve their full potential," said Mehrotra.

The appointment of Deepak Mehrotra is part of AESL's strategic vision to enhance its offerings, expand its reach, and create a positive impact on the education landscape. The company remains dedicated to fostering a culture of learning, growth, and innovation, with a focus on preparing students for success in their academic and professional endeavors.

As AESL embarks on this new chapter with Deepak Mehrotra at the helm, stakeholders, including students, parents, faculty, and investors, can expect continued excellence, innovation, and commitment to educational excellence from one of India's most trusted education providers.

AESL, known for its innovative approach to education and commitment to academic excellence, has been at the forefront of providing comprehensive coaching solutions for students preparing for Medical and Engineering entrance examinations, School/Board exams, and competitive exams such as NTSE, KVPY, and Olympiads. It has a network of over 310 Aakash centres (including franchisees) and a student count of more than 4 Lacs. Under the leadership of Deepak Mehrotra, AESL aims to further strengthen its position as a leader in test preparation and educational services.

FADA Releases For FY’24 Vehicle Retail Data During March 2024

Brief Analysis for Mar’24

Modest Growth in Auto Sector: The Indian Auto Retail sector witnessed a growth of 3.14% YoY, with significant growth of 5% and 17% in the 2W and 3W segments.

Surge in Electric Vehicle Sales: The expiration of the FAME 2 subsidy on March 31st led to a notable increase in electric vehicle sales, with the 2W-EV market share jumping to 9.12% for the first time.

Resilience in the Face of Challenges: Despite economic concerns, election uncertainties and intense competition, the 2W segment showcased strategic evolution, especially in the premium and electric vehicles.

Positive Sentiment in Three-Wheeler Segment: The 3W segment demonstrated growth driven by the increasing acceptance of electric vehicles, showing an optimistic trend despite potential challenges from election uncertainties and policy changes.

Challenges in the PV Sector: The PV segment faced a downturn with a 2% MoM and a 6% YoY sales decline, attributed to heavy discounting and selective financing.

Mixed Landscape for CVs: The CV segment which fell by 6% YoY navigated through a complex environment, balancing election-induced purchase slowdowns with strong demand in specific sectors like coal and cement transportation.

Urban Challenges and Sector Resilience: Amid declining urban consumer sentiment and election uncertainties, the automobile industry leverages festive occasions, new product launches and a shift towards electric mobility to navigate towards recovery and growth.

Brief Analysis for FY’24

Robust Sector-Wide Growth: In FY’24, the Indian Auto Retail sector achieved a notable 10% YoY growth, with the 2W, 3W, PV, Trac and CV segments registering growth rates of 9%, 49%, 8.45%, 8% and 5% respectively, setting record highs in the 3W, PV and Trac categories.

Two-Wheeler Resurgence: The 2W segment experienced a 9% growth, fueled by enhanced model availability, the introduction of new products and a positive market sentiment, alongside the burgeoning EV market and strategic premium segment launches.

Three-Wheeler Benchmark Setting: A remarkable 49% YoY growth in the 3W segment was driven by the introduction of cost-effective CNG fuel options, new EV models, expanding city landscapes, demand in last mile mobility in urban centers resulting in strong demand, marking a new industry benchmark.

Passenger Vehicle Milestone: The PV segment's growth of 8.45% to reach an all-time high was propelled by improved vehicle availability, a compelling model mix and significant contributions from the SUV segment, which now claims 50% market share.

Commercial Vehicle Growth: Demonstrating strategic market adaptability, the CV segment grew by 5%, with improved vehicle supply and planning, alongside significant purchases spurred by government tenders and bulk deals.

FY’25 Optimistic Outlook: The industry looks forward to FY’25 with optimism, focusing on new product launches, especially in EVs and leveraging economic growth, favorable government policies and expected good monsoon to fuel demand, despite facing challenges like competition and the need for strategic market engagement.

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for March'24 and FY’24.

March’24 Retails

In March 2024, the Indian Auto Retail sector experienced modest growth of 3.14% YoY, as reported by FADA President, Mr. Manish Raj Singhania. The two-wheeler (2W) and three-wheeler (3W) segments saw increases of 5% and 17% respectively, while passenger vehicles (PV), tractors (Trac) and commercial vehicles (CV) faced declines of 6%, 3%, and 6% respectively.

Mr. Singhania highlighted that “the 2W segment demonstrated resilience and adaptability, with electric vehicle (EV) sales surging due to the expiration of the FAME 2 subsidy on March 31st. This led to a notable boost in the 2W-EV market share to 9.12%. Positive market sentiment was supported by seasonal events, improved vehicle supply, and financial incentives. Despite facing market volatility and intense competition, the industry is strategically evolving, particularly in the premium and EV categories, signalling a bright future.

The 3W segment showed an encouraging sales trend hitting an all-time high retail, driven by the growing acceptance of EVs. The introduction of EV autos and loaders positively impacted the retail environment. Although faced with election-related uncertainties and concerns over policy changes, such as free bus travel for women, the overall outlook for the sector remains upbeat, supported by the quality of vehicles and strong market demand.

The PV sector encountered challenges, with a MoM decrease of 2% and a YoY fall of 6%. The downturn was influenced by heavy discounting and selective financing further affected by economic worries and the electoral climate. Nonetheless, positives such as improved vehicle availability, increased stock levels and new model launches did stimulate demand in certain areas. The impact of election activities and changes in festival dates also played a role in sales dynamics.

For the CV sector, March presented a complex scenario. The election announcement resulted in a temporary reduction in purchases, though there is an expectation of a recovery post-election, with decreasing concerns about the forthcoming monsoon. The sector grappled with issues like recent declines, poor agricultural outcomes, discount pressures and financing difficulties. On the upside, there was strong demand in specific areas such as coal and cement transportation, bolstered by bulk orders and vehicle upgrades, which enhanced customer engagement.”

FY’24 Retails

Reflecting on FY’23, FADA President Mr. Manish Raj Singhania commented, "The Indian Auto Retail sector achieved a commendable double-digit growth of 10% YoY across all categories, with 2W, 3W, PV, Trac and CV registering increases of 9%, 49%, 8.45%, 8% and 5% respectively. Notably, the 3W, PV and Trac segments set new record highs, surpassing previous years' performances.

In FY24, the 2W segment saw a 9% growth, driven by a rich mix of factors including enhanced model availability, new product introductions, and positive market sentiment, further augmented by special schemes and the rural market's recovery from COVID. The growth in EVs and strategic launches in premium segments also played a critical role, overcoming challenges such as supply constraints and heightened competition.

The 3W segment's growth soared to 49% YoY, setting a new benchmark. This remarkable achievement was fuelled by the introduction of cost-effective CNG fuel options and new EV models, alongside strong market sentiment and the seamless integration of high-quality after-sales service. These elements, combined with the sector's innovative approach, catapulted the 3W segment to new heights.

For the PV segment, FY24 was a milestone year, achieving an 8.45% YoY growth and reaching an all-time high. Factors such as improved vehicle availability, a compelling model mix and the launch of new models played pivotal roles. Enhanced supply dynamics, strategic marketing efforts, ever expanding quality road infrastructure and strong demand in the SUV segment, now holding a 50% market share, significantly contributed to this success.

The CV segment experienced a 5% growth in FY24, demonstrating the sector's strategic response to diverse market dynamics. Improved vehicle supply, effective planning, and increased freight movement drove significant replacement purchases. Additionally, the segment capitalized on government tenders, better road connectivity and bulk deals, showcasing its adaptability and strategic market positioning."

Near-Term Outlook

With a notable decline in consumer sentiment among urban Indians, as reported by the Centre for Monitoring Indian Economy (CMIE), the automotive sector faces a nuanced challenge. This downturn, characterized by a restraint in discretionary spending within urban income brackets, adds a layer of complexity to the industry's landscape. In this scenario, the decision of the MPC of the RBI to keep lending rates unchanged at 6.5% would continue to badly impact the retail sales of all vehicles, especially entry level vehicles as these buyers are extremely price sensitive. Given the continued inflationary trend without any relief in finance rates, these prospective buyers may continue to hesitate. Coupled with the forthcoming elections, these challenges will influence the Industry, potentially curbing vehicle sales across all segments. Despite this, opportunities for rebound and growth linger, bolstered by festive occasions and strategic product unveilings aimed at reviving consumer interest.

The industry's adaptability is further tested by improved supply dynamics and an increasing bend towards electric mobility, alongside enticing financing options, all poised to mitigate the effects of the current economic sentiment and electoral caution. The automotive sector's resilience is thus spotlighted, with concerted efforts to tackle these challenges through innovation and strategic market engagement. As it navigates through a period marked by careful optimism, the sector is positioned for a cautious yet hopeful trajectory towards recovery. The strategic foresight and adaptability demonstrated by the industry promise a pathway to resilience and sustained growth, even as it confronts evolving market conditions.

Long-Term Outlook

Heading into FY’25, the Indian Auto Industry is poised for growth amidst a mix of optimism and challenges. The excitement around new product launches, particularly electric vehicles, sets a forward-looking tone. Manufacturers are gearing up with better supply chains and an array of models to meet diverse consumer demands. Economic growth, favourable government policies and an anticipated good monsoon are expected to fuel demand, especially in rural areas and the commercial vehicle sector, which is closely linked to infrastructure projects and economic activity.

Market sentiment is cautiously optimistic, with the industry banking on improved customer engagement and financing schemes to boost sales. However, it faces challenges like high base in PV segment and intense competition. The focus is on overcoming these hurdles with innovation and strategic market engagement, aiming for a balanced growth across all the segments. As FY’25 unfolds, the Indian Auto Industry is navigating through evolving market demands and economic conditions, leveraging its strengths for sustainable growth and a wider reach.

Key Findings from our Online Members Survey

Liquidity

Neutral               48.93%

Good                 39.64%

Bad                      11.43%

Sentiment

Neutral              45.71%

Good                   39.29%

Bad                      15.00%

Expectation from Apr’24

Growth               56.43%

Flat                      32.50%

De-growth         11.07%

Expectation from FY’25

Growth               72.14%

Flat                      20.36%

De-growth         07.50%

Capri Global Capital Disburses Over 10,000 Crores Worth New Car Loans To 94,000 Customers In FY 2024

* Plans to expand footprints in Southern India Intends to grow the portfolio by 25% next year

Capri Global Capital Ltd, a leading non-banking financial company, achieved a remarkable 75% year-on-year (y-o-y) growth in new car loans and disbursed over Rs. 10,000 crore to around 94,000 customers. This represents approximately 2.5% of India's total passenger vehicle market.

Last year Capri Loans focused on expanding its footprint across the length of the country and established presence at 750 locations in 28 states predominantly in the Tier III cities and Tier IV towns. The lender also increased qualified and experienced work force. In addition to operations ramp up, the NBFC also added a number of banking partners and distributors to support the increasing demand.

This has allowed the company to gain market share from urban and semi urban areas where demand for new cars was at a record new high in FY24. Going forward, the Capri Loans aim to continue the growth of the vehicle finance business by 25%. In order to do so, the company plans a multi-pronged strategy including strengthening its presence across southern states. It also plans to leverage technology to automate a part of the acquisition process through launch of an app in the very first quarter of current financial year. The app is already in the pilot phase. The lender is also willing to explore inorganic means to enter newer categories in vehicle financing.

Mr. Rajesh Sharma, Managing Director, expanded on this vision and said, “India's new car market is experiencing an unprecedented boom, fuelled by surging demand. Notably, there's a discernible preference for larger vehicles such as SUVs and sports models, alongside a growing interest in efficient electric variants, particularly in urban areas. The ownership of a car symbolizes independence, status, and personal fulfilment. At Capri Loans, we're dedicated to turn car buyers' dreams into reality by providing accessible financing options. We've already disbursed over Rs.10,000 crores for around 94,000 cars personal cars through our customer-centric approach, repayment plans tailored to individual financial circumstances, and ensuring convenience and ease throughout the process.

Utilizing innovative technology, we're committed to comprehend the diverse market dynamics and deliver customized solutions that cater to each customer's unique needs. Our goal is to build long-term relationships founded on trust and reliability. Equipped with cutting-edge technology, Capri Loans is set to revolutionize the vehicle financing landscape and elevate the customer experience. At Capri Loans, we're not just financing cars; we're empowering dreams and reshaping the future of vehicle financing.”

As per industry reports, passenger vehicle segment is at an all-time high. It clocked an 8.4% growth rate in FY24. Car manufacturers are expanding capacities to meet the demand raising especially from the rural markets. Customers are not only buying new cars, but they are also opting for bigger cars like SUVs and Sports models which saw a sharp increase of 28% last year.

Samsung Unveils Galaxy M55 5G, Galaxy M15 5G WithSuper AMOLED Plus Display, Powerful Processor, And Stylish Design

Samsung, India’s largest consumer electronics brand, today announced the launch of two monster devices, Galaxy M55 5G and Galaxy M15 5G, with several segment-leading features. The latest additions to the immensely popular Galaxy M series offer users a superior smartphone experience with Super AMOLED Plus display, monster battery and powerful processors.

“True to the Samsung philosophy, we are pushing the boundaries of innovation with the new Galaxy M55 5G and Galaxy M15 5G, two stunning devices that are ready to power the infinite passions of young MZ consumers. With multiple segment-leading features including Super AMOLED plus display, stylish sleek design, powerful Snapdragon processor and combined with an unmatched promise of four generations of OS upgrades and five years of security updates, we are ensuring a monster user experience with Galaxy M55 5G and Galaxy M15 5G,” said Aditya Babbar, Vice President, MX Division, Samsung India.

Iconic Design

Galaxy M55 5G and Galaxy M15 5G don the iconic Galaxy signature design, exuding elegance and sophistication. Galaxy M55 5G is super sleek and light weight, measuring only 7.8mm in width which makes it very ergonomic to use. Galaxy M55 5G will be available in two refreshing colours - Light Green and Denim Black. Galaxy M15 5G will be available in three stylish colours including Celestial Blue, Stone Grey and Blue Topaz.

Monster Performance

Galaxy M55 5G is powered by 4nm-based Qualcomm Snapdragon 7 Gen1 processor making it fast and power-efficient, allowing you to multi-task smoothly. The processor delivers a monster mobile gaming experience with high-speed connectivity along with high-quality audio and visuals. With the ultimate speed and connectivity of 5G, users will be able to stay fully connected wherever they go, experiencing faster downloads, smoother streaming, and uninterrupted browsing. Galaxy M15 5G is powered by MediaTek Dimensity 6100+, which is capable of handling demanding tasks with ease.

Monster Battery

Galaxy M55 5G packs in 5000 mAh battery that enables long sessions of browsing, gaming and binge watching. Galaxy M55 5G also supports 45W super-fast charging, giving users more power in lesser time. Galaxy M15 5G comes with segment-best 6000 mAh battery that can power the smartphone for up to two days, allowing users to binge on their favourite entertainment and keeping them connected and productive through the day.

Monster Display

Galaxy M55 5G features a 6.7” Full HD+ Super AMOLED Plus display with 120Hz refresh rate that provides higher quality colour contrast giving an immersive viewing experience. Galaxy M55 5G comes with 1000 nits of high brightness mode and Vision Booster technology ensuring that users can enjoy their favourite content even under bright sunlight. Galaxy M15 5G features segment-best 6.5” Super AMOLED display, which makes scrolling through social media feeds, even in outdoor settings, a breeze for the tech-savvy Gen Z and millennial customers.

Monster Camera

Galaxy M55 5G features a 50MP (OIS) No Shake Camera to shoot high-resolution and shake-free videos and photos eliminating blurred images caused by hand tremors or accidental shakes. The camera setup also includes an 8MP Ultra-Wide lens along with a 50MP high-resolution front camera for detailed, sharper selfies. Galaxy M55 5G comes with Nightography, allowing users to capture stunning low-light shots and videos, thanks to the Big Pixel technology. Galaxy M55 5G’s camera comes with AI-enhanced features such as Image Clipper and Object Eraser  Galaxy M15 5G sports a 50MP triple camera setup with Video Digital Image Stabilization (VDIS) to reduce blur or distortion in videos arising from unsteady or shaky movements. Galaxy M15 5G also houses a 13MP front camera for crisp and clear selfies.

Monster Galaxy Experience

Galaxy M55 5G and Galaxy M15 5G redefine consumer experience with innovations such as Voice Focus that cuts the ambient noise for an amazing calling experience.

Both Galaxy M55 5G and Galaxy M15 5G come with best-in-class, defense grade Knox Security, ensuring that you are worry-free when it comes to privacy and security on your smartphone. These devices will also feature one of Samsung’s most innovative security features: Samsung Knox Vault. The hardware based security system offers comprehensive protection against both hardware and software attacks by constructing a secure execution environment that is physically isolated from the system’s main processor and memory. Both Galaxy M55 5G and Galaxy M15 5G come with the Quick Share feature which enables users to instantly share files, photos and documents with any other device, even if they are faraway, including your laptop and tab, privately.

With Galaxy M55 5G and Galaxy M15 5G, Samsung is reaffirming its commitment to customer satisfaction by providing four generations of OS upgrades and five years of security updates, ensuring users can enjoy the latest features and enhanced security for years to come. Galaxy M55 5G comes with Samsung Wallet, and its Tap & Pay feature which tokenizes and stores your credit and debit cards on the phone, so that the next time you forget to carry your wallet, you can simply pay with your smartphone.

Memory Variants, Price, Availability and Offers

Galaxy M55 5G comes in 8GB+128GB, 8GB+256GB and 12GB+ 256GB storage variants and Galaxy M15 5G comes in 4GB+128GB and 6GB+128GB storage variants. Galaxy M55 5G will be available on Amazon, Samsung.com and at select retail stores, while Galaxy M15 5G will be available on Amazon and at select retail stores starting today, April 8.

Additionally, as a limited period offer, customers purchasing Galaxy M15 5G will get a Samsung 25W travel adapter worth INR 1699 at just INR 300.

Samsung will also be providing exciting offers on Samsung Wallet with Galaxy M55 5G and Galaxy M15 5G. Customers can avail INR 250 voucher on completing one successful Samsung Wallet Tap & Pay transaction on Galaxy M55 5G or avail INR 100 voucher on Samsung Wallet registration on Galaxy M15 5G. These benefits will be provided as gift cards of Amazon within the Samsung Wallet app.

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN.

Yamaha Unveils Exciting Color And Graphics Updates Across Three Iconic Models

~ Yamaha introduces vibrant new color options across the MT-15 V2, Fascino and Ray ZR portfolios ~

~ These updates are aimed to appeal to customers across India, particularly the Gen Zs ~

India Yamaha Motor (IYM) Pvt. Ltd., in line with ‘The Call of The Blue’ brand campaign, today introduced interesting updates to MT-15 V2, Fascino and Ray ZR portfolios. These enhancements aim to rejuvenate the lineup, providing a burst of freshness and vitality, tailored to appeal to customers across India, especially the dynamic younger generation.

The company has unveiled the striking Cyber Green color option, enriching the palette of choices available to MT-15 aficionados. In addition, enthusiasts can also witness exciting graphical enhancements in the Cyan Storm DLX colour scheme. The company has also introduced the Hazard function in the MT-15 V2 DLX model, which is an important feature and can be used for indicating fellow riders to be cautious while riding. Amidst these updates, the existing favorites such as Dark Matte Blue, Metallic Black, Ice Fluo Vermillion, Racing Blue and Metallic Black will continue to be available, ensuring customers have a wide range of options to suit their preferences.

The Yamaha MT 15 V2 is a dynamic streetfighter motorcycle with a powerful 155cc liquid cooled 4-valve engine that has made its mark in the Indian market. Delivering ample power and torque for a thrilling ride, the MT-15 V2 is equipped with advanced features like Traction Control System, Dual Channel ABS, Upside Down front forks, Aluminium Swingarm, and Variable Valve Actuation (VVA) that ensures it offers superior handling and performance.

The Fascino 125 Fi Hybrid lineup receives its own share of updates with the introduction of brand-new Cyan Blue, Matte Copper, Silver, Metallic White colour schemes for the Disc & Drum variant in addition to the existing Dark Matte Blue, Cool Blue Metallic and Vivid Red options, offering customers an array of fresh choices for 2024. Additionally, the Drum Variant in Fascino gets an all-new Metallic Black shade. For the Ray ZR 125 Fi Hybrid model, Yamaha presents the captivating Cyan Blue color update for Disc & Drum variants, infusing a renewed sense of style and dynamism. Alongside this, the Metallic Black, Matte Red, Racing Blue, and Dark Matte Blue colors remain available, ensuring continuity and variety for Ray ZR enthusiasts. Similarly, the Street Rally variant retains its distinct appeal with colors like Matte Copper, Matte Black, and Light Grey Vermillion.

Both the scooter models are powered by a BS VI OBD2 & E-20 fuel compliant, air-cooled, fuel injected (FI), 125 cc blue core engine with Hybrid Power Assist feature. It also has an “Automatic Stop & Start System" and "Smart Motor Generator" for fuel savings and quiet starts. Equipped with LED lights and a Digital Meter Console with Y-Connect Bluetooth, it is lightweight, easy to handle, and promises a modern riding experience.

These updates signify India Yamaha Motor's commitment to innovation and customer satisfaction. By refreshing the lineup with vibrant and bold colors, Yamaha aims to captivate the younger GenZ customers while continuing to cater to the diverse tastes of riders across the nation. The Color and Graphics updates across the MT-15 V2, Fascino, and Ray ZR models reaffirm the company’s dedication to providing exciting and dynamic experiences on two wheels.

About Yamaha Motor India group of companies:

Yamaha Motor made its initial foray into India in 1985 as a joint venture. In August 2001, it became a 100% subsidiary of Yamaha Motor Co., Ltd, Japan (YMC). In 2008, Mitsui & Co., Ltd. entered into an agreement with YMC to become a joint investor in India Yamaha Motor Private Limited (IYM). IYM's manufacturing facilities comprise State-of-the-art plants at Surajpur (Uttar Pradesh) and Kanchipuram (Tamil Nadu). The infrastructure at these plants supports the production of motorcycles and parts for the domestic as well as overseas markets. YMC has established its subsidiaries - Yamaha Motor Research and Development India Pvt Ltd. (YMRI), Yamaha Motor India Sales Pvt Ltd. (YMIS) and Yamaha Motor India Pvt Ltd. (YMI) in India to independently support IYM in the development, sales & marketing of its products and overall business planning & regional control respectively.

Presently, its product portfolio includes YZF-R3 (321cc), MT-03 (321cc), YZF-R15 V4 (155cc), YZF-R15S V3 (155cc),  MT-15 V2 (155cc); FZS-Fi Version 4.0 (149cc), FZS-Fi Version 3.0 (149cc), FZ-Fi Version 3.0 (149cc), FZ-X (149cc), AEROX (155cc) and scooters like Fascino 125 FI Hybrid (125cc), Ray ZR 125 FI Hybrid (125cc), Ray ZR Street Rally 125 FI Hybrid (125cc).

Singapore Tourism Board (STB) And PhonePe Enter Strategic Partnership To Promote UPI Payments For Indian Visitors In Singapore

* Indian travellers can now use the PhonePe app for instant, seamless, and secure payments across 8,000+ merchants in Singapore, enhancing their experience in the island-city

The Singapore Tourism Board (STB) and PhonePe have entered a two-year Memorandum of Understanding (MoU). At a signing ceremony held on the morning of Wednesday, April 3rd, STB's Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer,  International Payments Business for PhonePe , formally signed the MoU. This collaboration builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which allows customers to instantly make cross border transaction between the two countries directly from their existing Indian bank accounts.

As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India and Singapore, to promote the destination’s vibrant offerings and seamless UPI experiences across key tourism hotspots.

This strategic milestone – the first of its kind between a destination and a UPI payments platform – underscores the shared commitment of STB and PhonePe to add value to the overall experience of travellers exploring the vibrant city of Singapore by making it possible for them to use familiar services like UPI payments during their stay. As one of the most vibrant urban destinations in the region, Singapore is well known for its iconic landmarks and rich heritage precincts, each with its own charm. With a host of extraordinary retail, culinary, and adventure hot spots that await every traveller, this move will further unlock seamless exploration of Singapore's diverse attractions and offerings that has attracted Indian travellers.

Melissa Ow, Chief Executive, Singapore Tourism Board, said: "We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. By seamlessly integrating Singapore's exceptional offerings into the digital realm, our goal is to streamline payments across the traveller’s experience and promote curated deals, from attractions and retail to dining and nightlife. This initiative reflects STB's commitment to innovation and customer-centricity in the travel industry.”

Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said: “Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. Partnering with STB will facilitate ease of transactions for PhonePe users who now can just pay directly from their existing bank account by scanning a QR code when visiting the island-city.”

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.

More: www.stb.gov.sg or www.visitsingapore.com   | Follow us: STB LinkedIn, STB Facebook or STB Instagram

About PhonePe Group:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just 7 years, the company has scaled rapidly to become India’s leading consumer payments app with 520+ million registered users and a digital payments acceptance network of 38 million merchants. PhonePe also processes 230+ million daily transactions with an annualized Total Payment Value (TPV) of USD 1.5+ Trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus App Store - India's first localized App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

ASICS India Gears Up Runners For TCS World 10K Bengaluru With The Launch of Limited-Edition Race Day Merchandise

ASICS, the Japanese sportswear brand, today launched its limited-edition merchandise for the World Athletics Gold Label, TCS World 10K Bengaluru, scheduled for Sunday, April 28th, 2024.  As a distance, the 10 km is a perfect synthesis of speed and endurance and is also widely regarded as the first milestone in long-distance running.

ASICS India being the official Sports Goods Partner for TCS World 10K Bengaluru, unveiled the limited-edition race day merchandise collection launched today, drawing inspiration from the botanical aesthetics of Cubbon Park in This park is situated in the heart of the city and it is one of those historic places that depict nature, art, and beauty.

The Novablast 4 limited edition shoes are a testament to innovation, featuring the cutting-edge FF BLAST™ PLUS cushioning technology, which synergizes with each stride for enhanced speed. These shoes are specialized with an engineered woven upper and offer unparalleled comfort, breathability, and durability. The trampoline-constructed outsole ensures seamless transitions and heightened stability, energizing every step of the runner's journey. Emblazoned with Bengaluru 2024 on the side, these specially crafted running shoes not only boast state-of-the-art technology for ultimate comfort but also exude the spirited style reflective of Bengaluru's vibrant culture.

Additionally, the limited-edition race day apparel includes t-shirts and shorts designed with a unique blend of colors like illuminate yellow, waterscape, magnetic blue for men and sun coral, illuminate mint, and midnight for women. The graphical design features a spiral motif on the left side of the t-shirt is inspired by the running culture of this city, it also reflects the brand ideology.

Mr. Rajat Khurana, Managing Director, ASICS India and South Asia said "It's with immense pride and excitement that we return as the Official Sports Goods Partner for the TCS World 10K Bengaluru 2024 edition in Bengaluru. This year's Race Day Look celebrates the historic realm and natural beauty of Cubbon Park. It is a nature haven in the heart of the city, which is depicted in a clean and artistic graphic, featuring stylized forms and representing the passion for running in ASICS attire. The ASICS Race Day look offers unique design and cutting-edge technology that will empower runners to conquer the TCS World 10K Bengaluru in style and comfort.

He further said, “We believe the high-performance features and innovative design of the merchandise will resonate with participants and elevate their race day experience."

Vivek Singh, Jt. MD, Procam International, said “ASICS has been a longstanding partner of the TCS World 10K Bengaluru and the Procam Family. The brand has continuously set new benchmarks with top-of-the-line merchandise which is highly sought after by our participants. As we gear up for yet another edition of the event, we want the participants to enjoy the new experiences and keep the momentum going for the World’s premier 10k in the IT capital of India.”

The TCS World 10K Bengaluru is a World Athletics Gold Label Road Race and will be hosted on Sunday, 28th April, 2024. Start line will be on Cubbon Road Outside field Marshal Sam Manekshaw Parade ground.The official TCS World 10K Bengaluru merchandise will be available to shop on flagship ASICS stores across the country and online brand store, link – www.asics.com

TCS Merchandise launch video can be viewed here: https://wetransfer.com/downloads/33b9a1ed163368b063890f689b99d4b520240408043503/911e0d

About ASICS:

Anima Sana In Corpore Sano, meaning ‘A Sound Mind in a Sound Body’ is an old Latin phrase from which ASICS is derived and the fundamental platform on which the brand still stands. The company was founded in 1949, more than 70 years ago by Kihachiro Onitsuka and is now a leading designer and manufacturer of running shoes, as well as athletic and SportStyle-inspired footwear, apparel, and accessories.

ASICS currently has 103 stores across India. More details can be found at www.asics.com/in/en-in/store-locator.

For more information, visit www.asics.com/in/en-in