Tata Motors Partners with Karnataka Bank to Extend Retail Finance Support to its Customers

Tata Motors, India’s leading automotive brand has signed a Memorandum of Understanding (MOU) with Karnataka Bank in a joint effort to introduce attractive financing offers for its customers to purchase their favourite Tata car*. Customers can now take advantage of a variety of schemes on their future vehicle purchase available across 857 branches of Karnataka Bank which include 199 semi urban and 67 rural branches, making vehicle buying easy and affordable nationwide.

Under this collaborative initiative, customers can avail loans of up to 85% on the on-road pricing of a Tata Motors vehicle with an interest rate linked to External Benchmark Lending Rate (EBLR) which will be updated on the bank’s website periodically. The tenure of this loan is set at a maximum timeframe of up to 84 months.

Commenting on the partnership, Mr. Rajan Amba, Vice President, Sales, Marketing and Customer Service, Passenger Vehicle Business Unit (PVBU), Tata Motors said, “We are elated to be partnering with Karnataka Bank to introduce attractive finance schemes for our customers. This is in alignment with our constant endeavor to make safe personal mobility solutions more accessible to individuals and families, while contributing to the joy of their overall ownership experience. We hope, that these offers will boost customer morale and make the process of purchasing a car more convenient for all.”

According to Mr. Mahabaleshwara M.S, Managing Director & CEO of Karnataka Bank, “This partnership with Tata Motors will be another milestone in our efforts to meet the aspirations of our esteemed customers to fulfil their dream of owning world class products from Tata Motors. Tata Motors will now offer preferred financier status to our bank for financing acquisition of four wheelers manufactured by the company. The proposition becomes even more attractive for the customer with Karnataka Bank now offering car loans through an end to end digital platform developed in house for existing as well as new customers, enabled with faster processing capabilities primarily envisioned for greater customer delight. The dreams of many of our customers to own a personal vehicle will now become a reality with this facility and I am sure this partnership will turn out to be a win-win arrangement for both the brands in their future growth journey.”

In addition to the above, the individuals applying for the loan have to be at least 18 years of age and need to be income tax assessees. The scheme can also be availed by customers who are agriculturists and are owners of farming lands as well as by Non Resident Indians (NRIs). A company/ firm/ trust/ association/ society availing the loan in its name or in the name of its executive/ managing director/ managing partner/ managing trustee/ president/ secretary is also eligible for finance under this program.

As of present day, Tata Motors has the youngest and the safest range of passenger vehicles in the Indian vehicle market. All the products under its New Forever range of cars have been lauded for their design, safety and performance. The Company is witnessing visible demand and growth in bookings for all ‘New Forever’ range of cars and UVs, including the recently launched Harrier 2020 and the Altroz. The rising demand for these products has resulted in a market share of 7.8% (YTD).

For more information on the product range, please visit – cars.tatamotors.com.

* Customers looking to avail the benefits have to qualify as per certain criteria issued by the Karnataka Bank. For more details on scheme details, please visit - www.karnatakabank.com.

* T&C apply

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Lodha Ventures Signs on Blue Lotus for its Public Relations Mandate

Lodha Ventures, an Abhinandan Lodha Group (ALG) company, which invests long-term proprietary capital into listed businesses and backs early-stage entrepreneurs to help build successful brands, has signed up Blue Lotus Communications, a 19-year-old, award-winning public relations and investor relations agency for its national public relations mandate.

Commenting on the new mandate, N. Chandramouli, CEO, Blue Lotus Communications said, “We are excited to be joining hands with Lodha Ventures which has diverse interests in financial services.  The phenomenal progress of the company under the leadership of Abhinandan Lodha over the last 5 years is a story to be told. The business acumen and financial acuity of Lodha Ventures’ leadership is visibly demonstrated in the organization’s rapid growth in just five years since formation.”

Abhinandan Lodha, CEO, Lodha Ventures reflected, “We are happy to partner with Blue Lotus for our public relations mandate. Lodha Ventures has an aggressive growth plan over the next five years, and we feel the time was right for embarking on a planned communication campaign for the company.”

About Lodha Ventures

Lodha Ventures, an Abhinandan Lodha Group (ALG) company, is a privately owned and managed business that invests long-term proprietary capital into listed businesses and backs early-stage entrepreneurs to help build successful brands. Lodha Ventures was started in 2015 by Abhinandan Lodha and apart from it, the Abhinandan Lodha Group consists of Lodha Finserv, a RBI registered NBFC, and Tomorrow Capital, a $100 million early-stage fund that invests in consumer-focussed businesses.

Hero Motocorp Team Rally Begins 2021 Dakar with a Solid Stage 1

Hero MotoSports Team Rally delivered a solid stage 1 at the 2021 Dakar Rally today.

All three riders finished the stage safely and reached the bivouac. JRod finished the stage at the 22nd place followed by Buhler at the 29th and Santosh at the 43rd positions.

Starting first for the team, Sebastian Buhler started the stage well but chose a wrong track along with a group of riders about 20 kms into the stage, which resulted in him riding alone in the dust for most of the stage. Having lost time, he finished the stage at the 29th position.

Joaquim Rodrigues started well but decided to exercise caution to avoid any unwarranted incidents right at the start of Rally. Indian ace C S Santosh too decided to ride safe and finished at the 43rd position.

Overall, it was a cautious day for the trio of Hero MotoSports riders. However, it also provided a lot of confidence to the Team. The Stage also saw the new Hero 450 Rally bike passing its first big test of the Dakar with a flawless performance.

The riders will try to get into a better competitive rhythm in the second stage that is scheduled to go underway tomorrow. The 685 km Stage 2 will include a really long 457 km special taking the competitors from Bisha to Wadi-Ad-Dawasir.

Joaquim Rodrigues (Competitor No. 27) said, “It felt like a really long stage today. I didn’t start very confident and definitely my speed was also not up there. So, I decided to focus on navigation throughout the stage. But as soon as some riders passed me, there was a lot of dust and I lost my way a bit. But I am happy that the first stage is off my shoulder and now we take on the second one tomorrow.”

C S Santosh (Competitor No. 50) said, “It was definitely not an easy stage today. It was a really physical stage with a lot of rocks to go through so it was slow and you had to always watch the roadbook. There were lots of direction changes and tricky navigation to set you off the track. So overall I think it was a very tough first stage of the Dakar and it sets the precedence for the stages to come ahead.”

Sebastian Buhler (Competitor No. 24) said, “Today was a hard stage in general. It was more like an enduro stage but over stones. I made a small mistake in the beginning in choosing a track and after that I was pretty much riding alone in the dust which was very difficult and risky.  But it’s only the first day so I am happy to be back at the bivouac safely and tomorrow we will try to do better.”

Provisional Rankings – Stage 1

1. Toby Price RedBull KTM Factory Team       03h 18m 26s

2. Kevin Benavides Monster Energy Honda Team       +31s

3. Matthias Walkner RedBull KTM Factory Team         +32s

23. Joaquim Rodrigues Hero MotoSports Team Rally       +16m 27s

29. Sebastian Buhler     Hero MotoSports Team Rally         +31m 54s

43. C S Santosh    Hero MotoSports Team Rally         +49m 55s

Provisional Overall Rankings at the end of Stage 1

1. Toby Price RedBull KTM Factory Team       03h 43m 58s

2. Kevin Benavides Monster Energy Honda Team       +23s

3. Matthias Walkner RedBull KTM Factory Team           +01m 12s

22. Joaquim Rodrigues Hero MotoSports Team Rally       +16m 31s

29. Sebastian Buhler     Hero MotoSports Team Rally   +31m 30s

43. C S Santosh    Hero MotoSports Team Rally         +52m 47s

Indias PM Narendra Modi Lays the Foundation Stone for the Permanent Campus of IIM Sambalpur

Indian Institute of Management Sambalpur, one of the most promising and dynamic management institutions among the new generation IIMs of the country, witnessed another giant leap in the advent of the new year. Hon’ble Prime Minister of India, Shri Narendra Modilaid the foundation stone of the permanent campus of IIM Sambalpur virtually today. 

The ceremony was also graced by Hon’ble Governor of Odisha, Shri Ganeshi Lal, Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, Hon'ble Minister of Education, GOI, Shri Ramesh Pokhriyal ‘Nishank’, Hon'ble Minister of Petroleum & Natural Gas and Steel, GOI, Shri Dharmendra Pradhan, Hon'ble Minister of State of MOAHD & Fisheries and MSME’s, GOI, Shri Pratap Chandra Sarangi, Hon'ble Member of Parliament, Shri Nitesh Ganga Deb, Hon'ble MLA, Shri J N Mishra, Hon'ble MLA, Shri Nauri Nayak, Smt. Arundhati Bhattacharya, Chairman, Board, IIM Sambalpur and former Chairperson of the State Bank of India, and Prof. Mahadeo Jaiswal, Director, IIM Sambalpur. The ceremony was virtually attended by over 5000 invitees, which include dignitaries from the Govt. of India, Govt. of Odisha, industry leaders, PSUs executives, directors of IIMs, IITs, IISERs, media journalists, members from the weaving community, members from farmer community, students, alumni, faculties, and staff of IIM Sambalpur. 

In his addressal, Hon’ble Prime Minister of India, Shri Narendra Modi, said, “With the laying of the foundation stone of IIM Sambalpur, we also lay the foundation of a new era for the youth of the country. I am sure that IIM Sambalpur will make Odisha the hub of management education. This decade will be devoted to the development of new Multinational corporations (MNCs) in India. Despite of COVID, India has given a number of unicorns this year. These are largely growing in tier 2 and tier 3 cities. Today’s startups are tomorrow’s MNCs. These startups need able managers and those passing out of this institution will lead the way.” 

He further added, “With its core values of Integrity, Innovation and Inclusion, IIM Sambalpur will show the country the power of management education. It is the responsibility of the students at the institute to bring global recognition to ‘Brand India’ and encourage development and focus on inclusion of all. Students of IIMs must come up with new ways to turn local to global. I am confident that the efforts of IIM Sambalpur will contribute towards a ‘Atmanirbhar Bharat’.” 

Hon’ble Governor of Odisha, Shri Ganeshi Lal, said, “Odisha and entire Eastern India will lead India towards transformation, innovation and change. Students are the sustaining factor of the eternal values, 'bhay se mukt aur bhav se jukt'. Odisha will be an engine for transformation of the country into a new India. I am sure, Odisha and entire Eastern India will lead India towards metamorphosis, innovation and change. IIM Sambalpur can transform the world through the management skills they impart.” 

Hon’ble Chief Minister of Odisha, Shri Naveen Patnaik, said, “In its 5 years, IIM Sambalpur has already proved its mettle as a premium management institute and excelled in its ways. IIM Sambalpur has been aspiring to be an Entrepreneurial Hub in the State of Odisha. It has signed MoU with the Ministry of Small and Medium Enterprises with emphasis on nurturing the entrepreneurial talent of the local weavers and agro-based business models. We look forward to working with IIM Sambalpur in areas of common interest. I pledge the support of this government to IIM Sambalpur in all its endeavours.” 

Hon'ble Minister of Education, GOI, Shri Ramesh Pokhriyal ‘Nishank’, said, “One day IIM Sambalpur will be renowned globally for its feats. The students of the institute will not only become responsible citizens but will also become entrepreneurs who help in job creation. They will become brand ambassadors for India in the world. I am sure that IIM Sambalpur will ensure through entrepreneurship and innovation Hon’ble Prime Minister’s vision of 5 trillion economy and help in building an Aatmanirbhar Bharat.  

Hon'ble Minister of Petroleum & Natural Gas and Steel, GOI, Shri Dharmendra Pradhan, said, “I believe that IIM Sambalpur will become a hotspot of global economy. The institute will help in new economic model creation for the rich area of Sambalpur.” 

Hon'ble Minister of State of MOAHD & Fisheries and MSME’s, GOI, Shri Pratap Chandra Sarangi, added, “IIM Sambalpur is a premium institute and in a short span they have reached heights that are praiseworthy. They are among the top 75 management institutions of the country.”  

Hon'ble Member of Parliament, Shri Nitesh Ganga Deb, said, “The new IIM campus will definitely improve infrastructure for the students and faculties alike. I hope the pass outs of the institute will prove themselves as the best entrepreneurs of our Country.” 

Speaking on occasion, Smt. Arundhati Bhattacharya, Chairman, Board, IIM Sambalpur and former Chairperson of the State Bank of India, stated, “Our effort here is to go beyond giving degrees. Our ambition is that when the student leaves this Institute, they are more a mature entrepreneur with creative mindset and are employment providers to many others. Our new premises will imbibe the traditional architecture of Odisha and we are committed to ecological sustainability: to this end, our new premises will also be environmentally friendly and energy-efficient.” 

Further, Prof Mahadeo Jaiswal, Director, IIM Sambalpur, stated, “IIM Sambalpur was setup in 2015 by the Government of India to nurture individuals with an entrepreneurial mind set. We work with Innovation, Integrity and Inclusion as our core operating principles. In line with the vision of the New Education Policy, IIM Sambalpur has embraced an innovative shift in its teaching learning pedagogy from teacher centric to learner centric. The concept of flipped classroom has been introduced by bringing industry live project to the classroom that increases student engagement and learning. We have had one of the best gender diversities with 49% female students. We want to thank our Hon’ble Prime Minister for laying the foundations stone. We also want to convey our heartiest gratitude to Hon’ble Governor of Odisha, Hon’ble Chief Minister of Odisha, Hon'ble Minister of Education, Hon'ble Minister of Petroleum & Natural Gas and Steel and all other dignitaries, friends and members of the IIM Sambalpur family who have been a part of this grand day.” 

The permanent campus of Indian Institute of Management Sambalpur is to be developed in an area of land measuring approximately about 200 Acres at Basantapur village near Goshala near Sambalpur City. In Phase- I, 60,280 sqm approx. built-up area under various buildings of the Project shall be constructed. 

The most striking feature of the campus will be the incorporation of regional art that creates a symbiotic relationship with the architecture. Odisha’s traditional IKAT—a patterned textile-dyeing technique—is mapped onto the brick facade with remarkable elegance, in colors similar to the soils of the state. 

The 4-star GRIHA rated sustainable campus will follow energy efficient and ecologically sensitive principles of development. Domestic water consumption will be reduced by using Dual Flushing Cisterns, less water consuming urinals, showers, faucets, etc. The campus will be 100% day lit in regularly occupied living areas and fresh air ventilated interior spaces. Treated water from STP will be used for irrigation and flushing. Use of LED lighting and ECBC complied energy efficient electric appliances like DG Sets, transformer, lifts, pumps, motors etc. will help in considerably reduced electricity consumption.  

The phase I works will have major buildings like Administration Building, Faculty Block, Academic Block, Auditorium Block, MDP Block including Guest House, Library & Incubation Block, Hostel buildings, Mess & Dining Block, Shopping & Activity Block, Sports & Recreation with OAT, Faculty Residence and Staff Residence, Directors Bungalow, Community Centre and Site development work etc.  

About Indian Institute of Management Sambalpur: 

Indian Institute of Management Sambalpur (IIM-S) is one of the most promising and dynamic management institutions among the new generation IIMs of the country located in Sambalpur, Odisha, India. IIM Sambalpur was established by MHRD, GOI in 2015 and was declared as an Institute of National Importance as per the IIM 2017 Act. The Institute is already taking positive steps since its inception as a place for Entrepreneurial Innovation and Experiential Learning. IIM-S currently offers full time Master in Business Administration (MBA) and PhD programs and more courses to be added in near future. The Institute outscores all other IIM’s in terms of its gender diversity and its unique experiential learning pedagogy called “Flipped Classroom”. 

Tata Motors Registered Domestic Sales of 150,958 Units in Q3 FY21; Grows by 41% Over Q2 FY21 and By 24% Over Q3 FY20

 

Tata Motors Limited today announced its sales in the domestic & international market, for Q3 FY21, which stood at 158,215 vehicles, compared to 129,381 units during Q3 FY20. 

Domestic Sales Performance:

Domestic - Commercial Vehicles:

Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Tata Motors’ Commercial Vehicle domestic sales in Q3FY21 at 82,155 units was 48% higher than the previous quarter and recovered to be broadly in line with Q3FY20 ( - 3.5%). M&HCVs and ILCVs led the recovery, growing by 10% and 7% respectively over Q3FY20, with higher demand in infrastructure including road construction, mining and e-commerce. The offtake continued to be higher than retail to support sequential month on month growth in retail while ensuring healthy inventory levels in the pipeline. We continue to monitor and work on the supply chain to improve availability, especially of electronic components, which impacted the output at the end of Q3.” 

Total MHCVs sale in Q3 FY21 including MHCV Truck, Buses and International Business stood at 21,476 units compared to 23,742 units in Q3-FY20.

*Vehicles supplied to Andhra Pradesh State Civil Supplies Corporation Limited awaiting inspection by the authorities.

Domestic - Passenger Vehicles:

Mr. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “The PV industry continued to grow robustly in Q3FY21, owing to pent up demand, strong festive season and shift towards personal mobility. Tata Motors PV Business has been witnessing strong response for its ‘New Forever’ range, which is being supported by continuous ramp up of supplies. In Q3FY21, PV business posted a growth of 89% as compared to Q3FY20- highest ever sales in last 33 quarters. For Dec’20, wholesale were higher by 84%, compared to Dec’19. Retail sales was 18% higher than wholesale for the month and pipeline inventory remains thin. We are continuing to debottleneck the supply chain and ramp up our output to meet the increased demand while addressing the availability of electronic components. With the growing popularity of Nexon EV, the company also posted an impressive sale in EVs with highest ever quarter wholesale of 1,253 units in Q3FY21 and 418 units in Dec’20.”

Mahindra & Ford End the Discussions of Automotive Joint Venture

Mahindra & Mahindra, a part of the USD 19.4 billion Mahindra Group and Ford Motor Company have mutually, amicably determined they will not complete a previously announced automotive joint venture between their companies.  The action followed passing of the December 31, “longstop”, or expiration, date of a definitive agreement the organizations entered into in October 2019.

According to the companies, the outcome was driven by fundamental changes in global economic and business conditions – caused, in part, by the global pandemic – since the agreement was first announced.  Those changes influenced separate decisions by Ford and Mahindra to reassess their respective capital allocation priorities.

Mahindra said that this decision will not have any impact on its product plan. It is well positioned in its core true SUV DNA and product platforms with a strong focus on financial performance. In addition, Mahindra is accelerating its efforts to establish leadership in electric SUVs.

About Mahindra

The Mahindra Group is a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company by volume.  It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.

Arjun Deshpande’s Initiative of Inexpensive Life Saving Generic Medicines Arrives At Chitradurga, Karnataka

Generic Aadhar, a pharma start-up founded by a 16-year-old lad, Arjun Deshpande 2years back in Mumbai and the young founder is aggressively working in ensuring availability of quality medicines to be accessible across the country. With this vision, Generic Aadhar inaugurated its first exclusive outlet at Chitradurga and plans to launch 2000+ stores by 2021 in Karnataka.

Tier 3 City Chitradurga, is a place with historical significance which is located about 200 km from the state capital Bengaluru (formerly Bangalore), is a high-tech hub known for its shopping and nightlife, Mysore is home to lavish temples including Mysore Palace, former seat of the region’s maharajas, Hampi is also the attraction and hill stations surrounded with the highest tea plantation in the state with tourism will also get affordable generic medicines through Generic Aadhaar retail stores will definitely benefit one’s monthly savings on life saving medicines. 

Mr Arjun Deshpande, Founder of Generic Aadhaar Said, "I feel Blissful to arrive atChitradurga which is very distinctive with its curious myths, human dwellings dating back to Stone age, enriched with the sites of ancient, historical, cultural and religious significance has been a place with a civilization of thousands of years and an amalgamation of antiquity and modernisation.Our main objective is to make generic medicine affordable and accessible in Chitradurga and also to reach different cities in the country without compromising on the quality. It also feels immense pleasure by fulfilling the legend and our beloved Mentor Ratan Tata Sir’s Dream of visualising a better India in healthcare Sector." 

"We assure the citizens of India about the quality of medicines, which is available in our store, and follow the regulatory guidelines and requirements. We are also following the vision of our honourable Prime Minister, Narendra Modi Ji's 'VOCAL FOR LOCAL' and sourcing generic medicines, APIs required for making the drug directly from the manufacturers, who have GMP-WHO approved manufacturing facilities," added Mr Deshpande.

Generic Aadhaar Startup Venture is also been supported by Honourable Ratan Tata Sir who is the great inspiration for Millions.

Generic Aadhaar offers a huge portfolio of generic medicines from the regulatory approved manufacturing facilities. The medicines, which are sold at Generic Aadhaar are up to 50-80 % lesser than the market price. These medicines are sourced from WHO-GMP certified manufacturers to reduce the cost and make it pocket friendly for the consumers by purchasing medicines from Generic Aadhaar’s Outlet.