Punjab National Bank Now India’s Second Largest Public Sector Bank

Highlights

* United Bank of India and Oriental Bank of Commerce merged with Punjab National Bank to create second largest Public Sector bank in terms of business
* The synergy from the amalgamation creates a globally competitive, next-gen bank, PNB 2.0
* Customer can now access specified inter-operable banking services

As notified by the Reserve Bank of India, the amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect today, 1st April 2020, to create the second largest nationalized bank of the country - both in terms of business and branch network. The synergy from the amalgamation will create a globally competitive, next generation bank, PNB 2.0.

All nation-wide branches of United Bank of India and Oriental Bank of Commerce will now function as Punjab National bank (PNB) branches while all customers, including depositors, will be treated as PNB customers. The amalgamated bank will have a wider geographical reach through 11,000 plus branches, more than 13,000 ATMs, one lakh employees and a business mix of over INR 18 lakh crore.

In the initial phase itself, PNB 2.0 will be offering specified inter-operable services through all branches and all platforms including Mobile and Internet Banking. To smoothen the customer transition, the Bank has appointed Bank Sathi at all branches/zones/head office (of all three banks) who will address customer concerns and assist them in choosing the right products and services. A robust Risk Governance mechanism has been set up to mitigate risks and make the banking experience secure and safe.

In terms of customer experience, PNB 2.0 will endeavour to be a true next-generation bank with state-of-art products and services, created and delivered by the most modern technology.

Commenting on the occasion, Shri CH. S. S. Mallikarjuna Rao, MD& CEO of Punjab National Bank said “We are honoured to be a part of this historic moment. The new amalgamated entity - built on the illustrious tradition of legacy, ethos and trust – will also be an advanced new generation bank offering diversified products and highly personalized services to our customers. The bigger geographical footprint will help us serve our customers more effectively and efficiently.”

About Punjab National Bank

Punjab National Bank, India’s first Swadeshi Bank, commenced its operations on April 12, 1895, from Lahore, with an authorised capital of Rs 2 lac and working capital of Rs 20,000. The Bank was established by the spirit of nationalism and was the first bank purely managed by Indians with Indian Capital. During the long history of the Bank, 7 banks have merged with PNB.

Bione Unveils India’s First Rapid COVID-19 At-Home Screening Test Kit

Bione has recently launched a rapid COVID-19 at-home Screening test kit and has established itself as the first healthcare company in India to achieve the feat. The easy-to-use kit displays accurate results within minutes, instrumental in the timely screening of the deadly virus. The at-home screening kit is available for sale on their platform bione.in after approval from the requisite medical regulatory authorities.

In a breakthrough development, the Biotech company has devised the screening kit for coronavirus which can provide respite from the impending fear of the contagion. The simple point-of-care home screening kit renders quick results, without having to step out in the wake of lockdown. It will foster timely detection of the disease while acting as a preventive tool for others in proximity to the user, by isolating the carrier immediately. The kit is priced between INR 2000-3000/- depending upon the global supply, to increase its affordability for the masses. Under normal circumstances, the ready-to-use kits can be received within 2-3 days of placing the order at their platform. An effective screening tool for mass screening, the organisation is also in talks to provide bulk orders for early detection.

COVID-19 Screening test kit is an IgG & IgM based tool which takes 5-10 minutes to deliver the results. Upon receiving the kit, the user is required to clean their finger with an alcohol swab and use the lancet provided to finger-prick. The cartridge provided reads the results from the blood sample thus obtained, within 5-10 minutes.

The products have been sourced from our worldwide CE and FDA approved partners and are brought to market after stringent quality controls have been ensured. The kits are approved by ICMR and will be deployed in the market after proper quality checks and assurance. The company is in the process of getting approval for more USFDA partners.

The organisation is well-equipped to supply 20,000 kits per week and intends to build its manufacturing facilities in the coming months to sufficiently cater to the high demand. Currently, the kits are experiencing a worldwide upsurge in demand especially from the US, Italy, Spain etc. due to lack of coronavirus testing solutions in the market. It is noteworthy that the screening is done at the patient's end, eliminating the need for a physical laboratory which helps minimise the contraction of COVID-19.

Bione was founded in 2019 in Bengaluru by Dr Surendra K Chikara, who is a world-renowned genomicist, and the first person to bring NGS sequencing in India. It is India’s first-and-only organisation offering personalised Genetic and Microbiome testing services. The organisation has the laurel of being India's first direct-to-consumer genetic and microbiome testing service and is actively working towards boosting preventive healthcare and increasing life expectancy in India. The company had earlier developed a Microbiome test kit to check gut dysbiosis and also genetic tests to predict susceptibility to contagious diseases such as COVID-19, based on their genetic makeup. The data analysed by proprietary Bioinformatics Bione Platform and results combined with tailored recommendations, are helpful in taking preventive measures and in fighting off coronavirus. The stand-alone COVID-19 Rapid At-Home Screening test kit is a reliable screening tool against coronavirus.

Irrespective of the results of COVID-19 Screening kit, Bione urges people to undergo a laboratory test if someone shows the symptoms of coronavirus. An immediate and thorough follow-up on the positive test results is required.

Speaking on the launch, Dr Surendra Chikara, CEO, Bione said, “We had been tracking the pandemic and pooled in a lot of time, resources and attention in our mission to develop a tool effective in curbing the outbreak. COVID-19 Home Screening test kit has emerged as a breakthrough product in such unprecedented times. By bringing down the result time, we are looking to make an impact and help India fight COVID-19. We strongly believe that the government's support is pivotal in leading a revolution against coronavirus.” 

OYO's Ritesh Agarwal to Forego 100% of His Annual Salary and Executive Leadership Team to Take Voluntary Salary Cuts

Highlights

* CEO of OYO, Ritesh Agarwal, to forego 100% of his salary for rest of the year effective Apr’2020
* With   Travel,   Hospitality   &   Tourism   sectors among the worst affected by COVID-19, OYOs entire executive leadership (CXOs) team takes a voluntary pay cut, starting at 25%, with many opting for an  additional  uncapped amount, and some going up to 50% to enable building the runway for the company

COVID-19 has impacted the global hospitality industry significantly with occupancies of various hotel chains being affected drastically. In this unprecedented and difficult period, Ritesh Agarwal, the Founder & Group CEO, OYO Hotels & Homes, has decided to forego 100% of his salary for the rest of the year. The company’s entire executive leadership team has taken a voluntary pay cut starting at 25%, with many opting for an additional uncapped amount, and some going up to 50% to enable building the runway for the company. This would be effective April 2020 and the entire company is standing together to tide over these times.

It has been a matter of pride for OYO Hotels & Homes that it has retained each and every single leader in the CXO group in the history of the company, and in a difficult time like this, the executive leadership has come together as one strong entity as true partners of the company.

The company management has also taken several other measures to ensure business continuity and is committed to the well-being of its OYOpreneurs. The company has assured that all employees in India, including ten thousand plus OYOpreneurs on payrolls and tens of thousands of OYO managed assets staff including lots of hotels which will open post lockdown will continue to receive their salaries and benefits without any interruptions during this unprecedented period of a countrywide 21-days lockdown.

Commenting on the development, Ritesh Agarwal,   Founder   &   Group   CEO  said,   “The current situation the world over is deeply concerning to each and every one of us. OYO is doing everything to support the world with its limited resources in this pandemic from making isolation centres to finding a safe place for first responders. Given the current business situation, which is unprecedented for our industry globally, I am foregoing 100% of my salary for the rest of the year. I am grateful to my leadership team, that have also taken pay cuts and support the company during these tough times. We at OYO stand committed towards the fight against COVID-19 and will try to do everything in our control to reach out and help people while also ensuring long term success of the company, and our ability to continue delivering on our mission to bring better living spaces for all, at the right prices, globally. ”

In line with the Government’s direction, OYO has taken a series of measures to accommodate frontline medical staff, aircrew, corporates, tourists, PGs as well as foreign nationals stranded in the nationwide lockdown.

The company is focusing on a two-pronged strategy to minimise the possibility of infection and maximise social distancing and hygiene. Certain hotels are being identified to partner with hospitals for setting up safe, pay per use quarantine facilities. Certain others are focused on providing safe shelter to local and foreign tourists and travellers who are stranded in cities owing to the lockdown.

OYO is in touch with various state governments as well as authorities to understand how some of its properties can be of assistance during this crucial period. Recently, OYO also partnered with Apollo Hospitals to offer sanitized beds and facilities in certain COVID-19  exclusive hotels it identified within its network in the proximity of Apollo Hospitals. The partnership will be activated in 6 cities namely, Mumbai, Delhi, Hyderabad, Chennai, Bengaluru and Kolkata for the purposes of self-quarantine and isolation for suspected COVID-19  patients that require medical observation and supervision.

Additionally, the company has also reached out to corporates and is keen to support the lodging requirements of individuals who are at the frontline of India’s fight against Coronavirus through a combination of OYO Hotels or OYO LIFE offerings.

Airtel Announces Measures to Shield Over 80 Million Low-Income Mobile Customers from Impact of COVID-19 Crisis

Bharti Airtel (“Airtel”), India’s largest integrated telecommunications company announced special measures to assist low income group customers impacted by the COVID-19 crisis.

• Airtel has extended the pre-paid pack validity for over 80 million customers till April 17th, 2020. All these customers will continue to get incoming calls on their Airtel mobile numbers even after the validity of their plan is exhausted.
• Airtel will also credit an additional Rs 10 of talk time in the pre-paid accounts of all these 80 million customers to enable them to make calls or send SMS and therefore stay connected with their loved ones.

The program has been kicked off, and these benefits will be available to users in the next 48 hours.

These 80 million customers effectively cover all under-privileged households on the Airtel Network. These special measures will particularly benefit migrant workers and daily wage earners who may have been impacted due to the nationwide lockdown to combat COVID-19. All other customers on Airtel’s network are already recharging their accounts using online platforms.

With these initiatives all Airtel customers will have unrestricted access to vital information from local authorities as also be able to connect with whoever they choose to.

Airtel’s network teams continue to work 24X7 to ensure that India’s digital backbone operates seamlessly.

Shashwat Sharma, Chief Marketing Officer, Bharti Airtel said “In this difficult hour of fighting off the threat of Covid-19, Airtel is committed to ensuring that all people remain connected without any disruptions. And for this objective, it is critical to take care of the under-privileged daily wage earners of our country, whose lives have been disrupted due to the lock-down”.

Columbia Pacific Communities Initiates Digital Campaign #PositiveLockdown to Help Seniors

With the nation observing a lockdown of 21 days to curb the spread of Covid-19, Columbia Pacific Communities has launched their two-week long digital campaign titled #PositiveLockdown to help seniors make the most of their time indoors by engaging in enriching experiences and thus steering clear of the sense of paranoia that is currently prevailing in the country.

They brand has championed the cause of positive ageing and shattered age-related stereotypes through many of its previous campaigns.  Columbia Pacific Communities believes that it is particularly important to keep seniors active during this lockdown period. The idea behind the #PositiveLockdown series is to help seniors stay physically and mentally active and healthy, so that they can glide over this rough patch.

Image may contain: textWith a fresh new idea every day, the campaign urges seniors to do everything that they haven’t found the time to do all this while. Whether it’s reading some of the most popular classics, discovering exotic spices, trying out Yoga or learning a new tune on their guitar, the campaign presents them the best ways to make these 21 days productive even while practising social distancing.

The aged are among the most vulnerable sections of the population as far as COVID-19 is concerned. Hence it’s No photo description available.not only important for them stay home to stay safe, but also ensure that they are positively engaged while they spend their time indoors. The campaign also showcases the benefits of living in a senior living community in these times of distress, with a robust support system taking care of every need of seniors.

Commenting on the campaign, Piali Dasgupta, Vice President – Marketing, Columbia Pacific Communities, said, “We understand that these are extraordinarily anxious times particularly for the senior members of our society who live alone. We believe that positive affirmations of any kind will help them get through this period.”

Heartfulness Institute Unveils Initiatives to Help Citizens to “Deal with Stress Due to Lock Down”

As the pandemic coronavirus spread across the world, Governments, Corporations and Individuals are all trying hard to grapple with the situation and having no parallel before are baffled by how to deal with the same. Uncertainty, Panic, Fear, Isolation are few of the constant feelings and emotions that one is being overwhelmed with not having enough insight to deal with the situation.

While the governments and medical community are working around the clock with those infected, doing their best to help them recover, prayers and wishes from are with them. For the rest, there may be a feeling of living in unnavigable times, that have been forced upon them due to isolation measures.

Heartfulness Institute has set up a Helpline to help talk the affected though the times and there will be global LIFECAST by Daaji, the guide of Heartfulness who will enunciate his thoughts on the situation and how to deal with it.The global LIFECAST By Daaji is scheduled on 2nd April 2020 at 5:30 pm IST. Significantly, Daaji will follow up his talk with a meditation session through the transmission process that makes Heartfulness Meditation unique and effective. Pranahuti ( life force ), centric to Heartfulness Meditation practice will be transmitted by Daaji as part of the meditation and those who wish to take part in the session should simply keep their eyes closed, sit in a comfortable posture silently without any external disturbance, focus on their heart and bring their attention to the divinity that exists in their heart.

Commenting on the initiatives Daaji said, “There is clear need for all of us to understand the situation as it stands today, demystify it and see it as it should be seen. There is too much information and too many changes in a very short time. How does one see it in a larger context of one’s life and what steps are needed to strengthen one’s ability to handle their feelings and emotions and thereby creating a contagion of positive emotions to deal with the situation together – The Theme of the LIFECAST”.

The LIFECAST can be accessed at -

http://www.Facebook.com/practiceheartfulness

http://www.youtube.com/c/heartfulness

The 24*7 Helpline ‘Voice That Cares’ launched today by Heartfulness Institute can be accessed by anyone by dialing the toll-free number 1 800 121 DHYANA (3492). Several hundred Heartfulness Trainers all specifically trained by Daaji for this purpose will be available round the clock to respond to the calls and help alleviate the emotional or mental distress the caller may be facing due to the uncertainty. Empathy is known to be one of the strongest healers and the trainers are well versed to navigate the callers through the distress they may be facing due to the ongoing lock down in the country.

Tata Motors Registered Domestic Sales of 11,012 Units in March 2020 and BS IV Inventory Near Zero

Tata Motors Limited today announced its sales in the domestic & international market, for the month of March 2020, which stood at 12,924 vehicles, compared to 74,679 units during March 2019.

Domestic - Commercial Vehicles:

Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Cumulatively, commercial vehicle domestic sale for FY20 at 3,10,855 units was -34% lower than FY19. Retail was 16% higher than offtake for the entire year.  Domestic sales in March 2020 was 5,336 units, deeply impacted by the COVID 19 lockdown as well as the planned transition to BSVI. Retail sales was significantly ahead of wholesales (>300%). Almost all BSIV vehicles in the ecosystem have been retailed, however, some await registration which was halted due to the lockdown. This will be cleared in the window provided. Productionization of BSVI vehicles was on track and we have wholesaled the initial few BSVI vehicles.

Our focus is to secure the extensive business continuity plan including ensuring full support to all our customers in need, particularly those who are transporting the essential goods during this challenging period”

Total M&HCVs sales in FY20 including M&HCV Truck, Buses and International Business stood at 98,579 units compared to 1,86161 units in FY19.

Domestic - Passenger Vehicles:

Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “Vehicle sales was affected by the COVID 19 outbreak and the subsequent nationwide lockdown. However, the customer response to our newly launched models – the Altroz and the refreshed BSVI range is encouraging. Our BSIV vehicle stock is near zero in the entire network.

I would be handing over to Mr. Shailesh Chandra who I am sure will take the PV team and the business to the next level, by delivering an exciting customer experience and building on the strength of the NEW FOREVER product portfolio.”

IMPORTANT NOTE: In continuation of our drive to focus on retails and drive ecosystem viability, Tata Motors will henceforth stop reporting monthly wholesale numbers from next month (ie April 2020) and instead report quarterly wholesale and retail numbers. In the current volatile scenario, we believe this helps us take the right long-term decisions for the business, helps our dealers to focus on serving customers and helps our investors to focus on the long term drivers of the business and avoid needless short term volatility.