Honda Cars India Ties Up With IndusInd Bank To Offer Lucrative Financing Schemes Ahead Of Festive Season

Honda Cars India Limited (HCIL), leading manufacturer of premium cars in India has partnered with IndusInd Bank to offer a gamut of convenient, affordable and personalized finance schemes for its customers, addressing their varied financing and payment needs. The partnership will facilitate customers to avail custom-built financing solutions on purchase of Honda Amaze and Honda City such as Low EMI, Flexi term, upto 100% ex showroom funding and customised schemes for specific customer groups like Farmers etc.

Considering the auspicious festive period ahead of us, HCIL has tied up with multiple financiers including PSU Banks, Retail Financiers and NBFCs, with a keen focus on semi-urban and rural regions, to offer competitive interest rates and flexible repayment options to enhance customer convenience during their car purchase.  Special schemes have also been offered to make this buying season even more attractive and rewarding. These schemes will offer easy to buy options for customers in the prevailing COVID scenario, where more and more customers are opting for personal mobility to keep themselves safe and healthy.

Commenting on this partnership and roll out of special schemes, Mr Rajesh Goel, Senior Vice President & Director, Marketing & Sales, Honda Cars India Limited, said, “The partnership with IndusInd Bank is an extension of our efforts towards making personal mobility more accessible and affordable to diverse set of customers, both salaried and self employed. We anticipate increased demand during festive period, and with this partnership we will be offering easy, hassle – free and personalised financing solutions designed to encourage purchase and elevate car ownership experience.” He further added “Leveraging IndusInd Bank’s wide network of distribution points and branches, we will be increasing our reach and penetration across the country while making the brand interaction and purchase process much easier for customers.”

Speaking about the partnership, Mr. S. V. Parthasarathy, Head – Consumer Finance Division, IndusInd Bank, said, “We are proud and excited to be partner with Honda Cars India. With this, our customers will have a seamless journey towards financing and ultimately driving their dream cars.” Elaborating further on the partnership, Mr. T.A.Rajagoppalan, Executive Vice President, IndusInd Bank, said, “Our association with Honda Cars India will further enrich customer experience and aid the journey to purchase their dream cars with our pocket-friendly financial schemes, warm customer service and extensive market knowledge. These lucrative and customized financial schemes can be availed by all customers through an easy documentation process followed by our network pan-India.”

About Honda Cars India Ltd.

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, was established in December 1995 with a commitment to provide Honda’s passenger car models and technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of-the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan. 

The company’s product range include Honda Jazz, Honda Amaze, Honda WR-V, and Honda City catering to diverse needs of its discerning buyers across different segments. Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety and fuel-efficiency. The company has a strong sales and distribution network spread across the country. 

Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country.

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on March 31, 2021, IndusInd Bank has 2,015 Branches/ Banking Outlet and 2,872 ATMs spread across geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.  

Rare Enterprises To Invest In Syska LED Lights Private Limited

Rare Enterprises and its Partners have signed a term sheet to invest in Syska LED Lights Private Limited, promoted by the Uttamchandani family. In accordance with the terms of the signed term sheet, about 15% of the funds have been deployed already. It is expected that the transaction should conclude in the next 60 days.  

Rakesh Jhunjhunwala, Partner – Rare Enterprises, said “We are encouraged with the business and the brand that Syska has built so far – we view this as a long term partnership with the Promoter family to take Syska into its next phase of growth and leadership.”

Commenting on this partnership, Mr. Govind Uttamchandani, Director, Syska Group said, “Syska Group has been on a consistent growth trajectory and we are poised to achieve new business milestones in the coming years. With the blessings of our Guru, we believe this collaboration with Rare Enterprises will support our organization in its next phase of growth, and enable us to secure a leadership position in India’s fast moving electrical goods (FMEG) industry. We are confident that this will be a long and fruitful association.”

Syska Group has witnessed success over the years due to its first mover mindset and constant innovation. It has become one of the leading fast-moving electrical goods companies in the country and is today a household name pan India.

Rare Enterprises and its Partners are investors in Indian equities, both listed and unlisted. 

About Syska Group -

Starting with Guru Nanak Marketing, a company that was involved in the distribution of T-series Audio cassettes, CDs and audio video systems for Maharashtra, the SYSKA Group had only one thing to do: grow. As the SYSKA Group continues to grow and become a domestic leader, their eyes are set to the world as their presence grows in countries across the globe. Empowered by a strong vision and drive, the SYSKA Group grew and diversified into more segments such as LED, Personal Care Appliances, Mobile accessories, Home Appliances and only continues to grow and dominate these markets.

NPCI Announces Tech5 As The Winner Of The PayAuth Challenge For Developing An Alternative Solution For Authorising UPI Payments

National Payments Corporation of India (NPCI) announces Tech5, an international touchless biometric solutions management company as the winner of the Global level Hackathon – ‘PayAuth Challenge’ for creating an innovative alternative for authenticating UPI based transactions. The solution developed by Tech5 involves using biometric in a secured manner to authenticate the financial transactions on UPI. Tech5 has also been rewarded prize money of USD 20,000 along with a chance to develop a proof of concept (POC) with NPCI.

The first of its kind PayAuth challenge was launched on 9th February, 2021 by NPCI in association with APIX, the world's first cross-border, open-architecture API marketplace and sandbox platform. NPCI's PayAuth Hackathon sought to explore the practicability of products and solutions that utilise factors like biometrics and facial recognition to provide a more user-friendly way to authenticate and authorise transactions on the UPI platform.

This challenge received more than 100 entries and post several rounds of considerations, 19 participants were shortlisted for an internal screening round. 8 participants were selected to present their solutions during the finale conducted on 17th April, 2021. The jury finalised Tech5 as the winner and announced the remaining three shortlisted finalists i.e., Infobip, Juspay & Minkasu as the joint runners-up of the challenge. The prize money of USD 10,000 for the runners-up shall be distributed among the three joint winners, who shall also have a possible opportunity to work on a Proof of Concept (PoC) with NPCI.

Ms. Praveena Rai, COO, NPCI said, “A big thank you to all participants who made a success of the hackathon. We would like to extend our heartiest congratulations to Tech5 – the winner of the PayAuth challenge and to Infobip, Juspay & Minkasu as the joint runners-up. We believe that this challenge brought together the brightest of minds to create exceptional and innovative solutions to perform digital transactions with ease and safety. We, at NPCI, are thrilled to explore the alternative authorisation solutions created by the winners to facilitate a customer-friendly payment authentication mechanism for the ever-expanding UPI consumer base. It is our sincere endeavour to back the UPI ecosystem and empower them with the right resources. The dynamic and evolving digital payments landscape in India has carved a niche for itself in the global arena and is only set to grow at an exponential rate.”

A member of the Jury, Mr. Pratik Pal, CEO, Tata Digital said, "It is heartening to see young fintech start-ups using their creativity and innovation, to take giant strides in order to redefine the digital payment ecosystem. As part of the jury at the PayAuth Challenge, we got an exciting opportunity to evaluate various strategic and interesting digital solutions. We would like to congratulate Tech5 who emerged as the best despite the tough competition and at the same time applaud the sincere efforts of all the participants in designing distinctive solutions with respect to UPI payments. We believe that the payment ecosystem should continue its focus and commitment towards nurturing fintech start-ups to attain the goal of a cash-lite society and help the country."

Another member of the jury, Mr. Sanjay Jain, Chief Innovation Officer, CIIE.Co and Partner at Bharat Innovation Fund said “As digital payments continue to grow, digital payment systems must continually innovate, and look to improve security and user convenience without compromising on either. The participants in the challenge have shown that both are possible, and I look forward to seeing these solutions incorporated in UPI, bringing in newer users and use cases."

Emirates Appoints Mohammad Sarhan As The New Vice President For India, Nepal

 

Emirates has announced the appointment of Mohammad Sarhan as vice president for India and Nepal, effective September 1, 2021.

“Sarhan will be responsible for leading the airline’s operations and strengthening Emirates’ presence in the market. Jabr Al-Azeeby, currently vice president of India and Nepal, will take on the role as vice president for Saudi Arabia,” reads the release.

Sarhan holds more than 15 years of experience in the aviation industry. His first post with Emirates came in 2009 in Cote d’Ivoire, and since then he’s held several commercial leadership roles in Vietnam, Greece, Thailand, Myanmar and Cambodia. In his new role, Sarhan will manage the airline’s commercial operations, drive business growth and lead the airline’s strategic initiatives across the region.

Mohammad Sarhan, Emirates vice president for India and Nepal, said, “I’m very excited and privileged to be taking on this new opportunity. Emirates has shared strong ties with India since 1985 and I look forward to working with our talented staff on-ground to continue growing the airline’s operations in the market.”

The new appointment comes as the airline announces several commercial leadership movements across West Asia, Africa, the GCC, and Central Asia. All of the movements include Emirati talent into key leadership positions, either being promoted from within the organisation or through portfolio rotations, underpinning the airline’s commitment to career development and progression of its UAE nationals.

Emirates has held strong ties with India since 1985 and the airline remains committed to its long-term commercial strategy in the country. Emirates currently operates passenger services to nine destinations in India including Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai, and Thiruvananthapuram - connecting customers to more than 120 destinations via Dubai.

Abbott Introduces Room-Temperature-Stable, Single-Dose Formulation Of Carbetocin For The Prevention Of Postpartum Haemorrhage In India

* The novel, room-temperature-stable (RTS), single-dose formulation will address prevailing challenges with existing protocols that require cold-chain storage and transportation, thus helping in prevention of PPH (postpartum haemorrhage) and facilitating better maternal healthcare in India

* Every year, PPH accounts for close to 20% of all maternal mortality[i] in the country

* The formulation’s efficacy and safety is supported by the results of the largest clinical trial in the prevention of PPH published in the New England Journal of Medicine[ii]

Abbott, the global healthcare company has announced the introduction of a room-temperature-stable, single-dose formulation of carbetocin in India, which is available in convenient vials, to help in the prevention of postpartum haemorrhage (PPH). Abbott’s product is available in the private sector. PPH refers to excessive blood loss of 500 ml or more after vaginal delivery and 1000 ml or more after a caesarean procedure, within 24 hours of childbirth[iii].  Although preventable, PPH is associated with almost 20% maternal mortality in the country.

PPH, if left untreated can result in complications like anaemia in the postpartum period or aggravate mental health problems including postnatal depression and post-traumatic stress disorder apart from other issues[iv]. Women may require additional treatment for PPH which can extend hospital stay. Additionally, PPH may also impact breastfeeding and nursing for the newborn[v].

The current prevention and treatment protocol for PPH requires cold-chain storage and distribution, as well as continual administration of medicines via intravenous drip infusion. This can impede access to quality healthcare for pregnant women in care settings where these requirements may not be feasible. The room-temperature-stable formulation addresses the challenge of maintaining cold-chain storage or transportation, which helps increase access to preventive treatment for PPH, across geographies.

Abbott has launched this formulation for the private market under its own brand through an in-licensing and co-marketing agreement with Ferring Pharmaceuticals Pvt. Ltd. India (Ferring), a subsidiary of the Switzerland-based global biopharmaceuticals company.

Results from the largest PPH trial published in the New England Journal of Medicine (NEJM), which enrolled nearly 30,000 women from 10 countries including India[vi],  indicated that carbetocin was non-inferior to oxytocin, the current standard of care, for the prevention of blood loss of 500 ml or additional uterotonic use (for the prevention of PPH during the active management of third-stage labour). 

Discussing the need for effectively preventing PPH, Dr. Sheela Mane, a renowned senior Obstetrics and Gynaecology consultant at Anugraha Nursing home, Bengaluru, commented, “Postpartum haemorrhage, seen in both caesarian and vaginal deliveries in India, could lead to long-term complications. Due to its heat sensitivity, quality of oxytocin maybe affected in areas with frequent power failures and lack of storage facilities. The new room temperature-stable carbetocin, which has been included in both the WHO guidelines and FIGO’s joint consensus statement for PPH prevention, could overcome these cold-chain transportation and storage challenges and prove to be an effective option for PPH prevention.”

A single-dose formulation of carbetocin is convenient to administer since it is a single-dose and offers an intra-muscular dosing option in addition to intra-venous administration. It therefore reduces the need for at-risk pregnant women to undergo a prolonged stay at the hospital post-delivery. This collaboration with Ferring, a leader in innovative reproductive medicine and maternal health, combined with Abbott’s commitment to women’s health, presents an important milestone in the nation’s efforts to enhance maternal health and ensure improved health outcomes post-delivery.

Commenting on this new formulation in India, Dr. Srirupa Das, Medical Director, Abbott India said, “For over five decades, Abbott has helped improve the lives of women throughout their pregnancy and reproductive health. With the introduction of this room-temperature-stable carbetocin formulation in collaboration with Ferring, we are reiterating our commitment to improve maternal care, enabling both mothers and children to live through better health. This formulation has proven efficacy, a convenient formulation that addresses the needs for heat stability and can help with better health outcomes for mothers who just delivered a baby.”[vii]

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries. In India, Abbott was established in 1910, and is one of the country's oldest and most admired healthcare companies. With more than 12,000 employees in the country, Abbott is helping to meet the healthcare needs of consumers, patients and doctors throughout urban and rural India.

[i] Kumar N (2016) Postpartum Hemorrhage; a Major Killer of Woman: Review of Current Scenario. Obstet Gynecol Int J 4(4): 00116. DOI: 10.15406/ogij.2016.04.00116

[ii] https://www.nejm.org/doi/full/10.1056/nejmoa1805489

[iii] Carlisa B. Comparison of Carbetocin with other uterotonic agents in preventing postpartum hemorrhage, Int J Reprod Contracept Obstet Gynecol. 2018 Dec;7(12):5207-5213

[iv] Evensen A, Anderson JM, Fontaine P. Postpartum Hemorrhage: Prevention and Treatment. Am Fam Physician. 2017 Apr 1;95(7):442-449. PMID: 28409600

[v] Thompson, J.F., Heal, L.J., Roberts, C.L. et al. Women's breastfeeding experiences following a significant primary postpartum haemorrhage: A multicentre cohort study. Int Breastfeed J 5, 5 (2010). https://doi.org/10.1186/1746-4358-5-5

[vi] Widmer M, Piaggio G, Nguyen TMH, et al; WHO CHAMPION Trial Group. Heat-Stable Carbetocin versus Oxytocin to Prevent Hemorrhage after Vaginal Birth. N Engl J Med. 2018 Aug 23;379(8):743-752. doi: 10.1056/NEJMoa1805489. Epub 2018 Jun 27. PMID: 29949473.

Fincare Community Banking Brings Modern Banking Services Across The Rural Indian Market

* Fincare Mitra shall give customers access to a wide range of banking solutions at the doorstep.

Fincare Small Finance Bank Limited (“Fincare SFB” or “Fincare Small Finance Bank”) takes the first step in introducing community banking to its core customer segment spread across 38,809 villages. This new initiative will help customers with a seamless banking experience right at their doorstep.

The community banking initiative will champion the bank’s mission to promote financial inclusion, ensure easy access to financial services and strengthen its relationship with existing loan customers, by becoming a provider of comprehensive banking services.

“Fincare Mitra” shall serve as a Customer Service Point (CSP), offering the community a wide range of banking services.

In principle, community banking is about treating rural customers as a cohort having its unique financial cycles thus requiring bespoke solutions such as:

·         Providing a basic bouquet of financial services like savings and loan products, life, health and non-life insurance, old-age pension and need-based investment solutions.

·         Establishing an effective digital banking infrastructure that is simple, safe and secure

·         Developing literacy and livelihood support for entrepreneurial skills, knowledge of basic financial products, basic digital transactions, as well as rights and responsibilities as a customer.

This initiative is designed to minimise the need to travel long distances for availing banking services and replace it with a relationship-led neighbourhood banking ecosystem.

Mr. Rajeev Yadav, MD and CEO of Fincare Small Finance Bank, stated regarding the initiative, "Fincare SFB has always strived to make its customers feel at ease. The Community Banking project is our contribution to this goal. We hope that by doing so, we shall be able to provide most common banking services to our rural communities in a streamlined and hassle-free manner using digital".

Fincare Small Finance Bank, a “digital-first” SFB is focussed on unbanked and under-banked consumers, especially in rural and semi-urban areas. It offers its banking services through banking outlets, ATM, WhatsApp, Mobile and Internet Banking and chatbots. In May 2021, Fincare SFB submitted preliminary paperwork to SEBI for its Initial Public Offering (IPO).

About Fincare Small Finance Bank:

Fincare Small Finance Bank commenced its operations as a small finance bank on July 21, 2017 in terms of Section 22(1) of the Banking Regulation Act, 1949, after receiving the final license from the RBI on May 12, 2017. Fincare SFB has been included in the Second Schedule to the Reserve Bank of India Act, 1934, by way of its notification, dated March 28, 2019 published in the Gazette of India (Part III – Section

4) dated April 13, 2019

Fincare Small Finance Bank follows a business model focused on financial inclusion and aims to provide individuals and businesses with affordable financial products and services that meet their needs. Fincare SFB’s business objective is to enhance access to savings, credit and other financial products for unbanked and underbanked individuals, MSMEs and unorganized entities, especially in rural areas, by leveraging technology and last-mile distribution.  As of June  30, 2021, Fincare SFB serves over 28.26+ Lakh customers in 19 States/Union Territory, has deposits worth Rs. 5,629 Crore, total assets worth Rs. 8,884  Crore and a workforce of 9,800 +.

Tata Motors Drives In The All New Tigor EV Sedan With Ziptron Technology

* Comes with GNCAP 4-star rating, continuing Tata Motors’ legacy of making safe cars

* With this launch, Tata Motors intends to make EVs mainstream for the personal segment

#EvolveToElectric:

* Comes with an ARAI-certified range of 306 kms (under standard testing conditions)

* Available in 3 trim options – XE, XM, XZ+ (XZ+ Dual Tone option available)

Following the recent grand unveil, Tata Motors is all set to excite the electric vehicle market with the launch of the Tigor EV. Starting today, the Tigor EV deliveries will commence for the personal segment. Following the footstep of its ICE (Internal Combustion Engine) sibling, the Tigor EV has also been lauded by GNCAP with a 4 star rating for adult (12.00 points out of 17.00) and child (37.24 points out of 49.00) occupant protection. Set to scale new heights in the dynamic world of electric mobility, the Tigor EV features Tata Motors’ proprietary high voltage EV architecture, Ziptron, and is built on the three strong pillars of Technology, Comfort, and Safety.

According to Mr. Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors – “EVs are fast gaining popularity on the back of rising comfort of customers, as the barriers to adoption are being overcome and due to growing preference for environmentally friendly solutions. This has been spearheaded by our very own Nexon EV, which today is the most popular EV in the Indian market. The increasing support from the central and the state Government, providing subsidies and a conducive environment for EVs to grow, inspires us to expand our EV offerings to our customers. We are ecstatic to launch the Tigor EV today, powered by the capable Ziptron Technology. The Tigor EV is a perfect option for all aspiring sedan buyers who are looking to own a vehicle that is technologically advanced, comfortable and high on safety standards, while also being an environmental-friendly commute, making it an irresistible choice for the buyers to #EvolveToElectric.”

Leading the current electric vehicle personal segment market with a 70% market share, Tata Motors is assertive that the all-new Tigor EV will democratize the electric mobility offerings in India. Providing an optimal range, the new Tigor EV has an extended ARAI certified range of 306 kms (under standard testing conditions), making it more desirable for personal commute. Armed with stunning design, class leading safety coupled with comfort and thrilling performance, the Tigor EV delivers a peak power output of 55 kW and a peak torque of 170 Nm and is powered by a 26-kWh liquid-cooled, high energy density battery pack and an IP 67 rated battery pack and motor to make it weather and worry-proof.

Tata Motors is offering the new Tigor EV in three variants: XE, XM, XZ+ (XZ+ Dual Tone option available), which come with an 8 year and 160,000 KM battery and motor warranty for the EV owners. Moreover, it also delivers superior driving dynamics and balanced suspension for sharper handling. Other features include electrically adjustable and foldable ORVMs, smart key with push button start, portable charging cable, etc.

The Impact-Resistant Battery Pack casing of Tigor EV complies with AIS - 048 standard for nail penetration at cell Level. Based on a proven platform with Rear Crash suited structure, the car is compatible with globally acceptable CCS2 charging protocol and can be fast-charged as well as slow-charged from any 15 A plug point. In addition to a silent cabin, spacious interiors with ample headroom and legroom for comfortable seating, the Tigor EV comes packed with technology across its powertrain, infotainment, connectivity & charging, all while promising a comfortable, and smooth drive. With 30+ connected car features including remote commands and remote diagnostics, the Tata Tigor EV is a nimble offering with powerful underpinnings and gives one the benefits of an EV at an accessible price.

To know more about the Tigor EV, customers can visit https://tigorev.tatamotors.com/ or visit their nearest dealership.