Union Bank of India Launches “25 next-gen MSME Branches” Taking The Tally To 50 Locations Across India

* Union MSME First Branches (UMFB’s) will now be present across 50 locations in the country 

* With sole focus on MSME customers, these branches will enable fast processing & better servicing of its MSME client needs  

Union Bank of India launched another set of its next-gen MSME focused branches i.e., Union MSME First Branches (UMFB’s) at 25 locations across the country, taking the total of UMFB’s to 50 locations pan India.  

The branches were inaugurated by Shri Nidhu Saxena, Executive Director of the bank at a virtual event.  

The Bank had earlier launched 25 such MSME focused branches which resulted in enhanced customer experience and quantity of business generated.  

The new branch locations were identified based on geo-analytics, field discussions and are located close to SME clusters to enable easy access for its clients. In keeping with its aspiration of delivering maximum value & fast turn-around time to its SME customers, the branches will have dedicated relationship managers & product teams who will provide all products like MSME Loans, deposits, forex services, LC/BG, credit cards, insurance products etc. under one roof.  

The initiative is an extension of the bank’s strong focus on the MSME segment which is a strong pillar of the Indian economy. 

Airtel Payments Bank Customers Can Now Get Smartphone Insurance From ICICI Lombard On The Airtel Thanks App

* Smartphone Insurance offers protection against damage due to accident or liquid spillage

* Customers can purchase it with a paperless, secure, and fast digital process

* Allows users to make two claims during the policy tenure up to the sum insured

Airtel Payments Bank customers can now buy Smartphone Insurance from ICICI Lombard General Insurance Company on the Airtel Thanks app. With this, Airtel Payments Bank has further strengthened its insurance offering available on its digital platform. Customers can now buy insurance through a fast, paperless, and secure digital process.

With the rise in digital adoption, smart devices, particularly smartphones, have seen a multi-fold increase in demand. The smartphone insurance solution from ICICI Lombard provides financial protection against damage to the phone and its screen resulting from accidents or liquid spills. As part of this smartphone insurance, customers can file up to two claims during the policy period, and it also includes free pickup & delivery, making it a unique offering in the market.

With a monthly premium starting at INR 1299, customers can get an insurance sum that is equivalent to the purchase price of their smartphone. Customers can get this insurance on their own until ten days after purchasing a smartphone priced between INR 10,000 to INR 100,000. After submitting smartphone details, the insurance is automatically issued without a device health check. The connectedness that smartphones enabled during the epidemic will make this device insurance more beneficial to individuals than ever before.

Commenting on the launch, Sanjeev Mantri, Executive Director, ICICI Lombard said,“There are over 750 million smartphone users currently in India and this number is likely to reach 1 billion by 2026[1] representing a burgeoning opportunity and huge potential for a product like smartphone insurance. We are excited to partner with Airtel Payment Bank to offer a protection plan that will provide customers with additional security in the case of accidental damage or theft to their smartphones and encourage them to opt for such insurance policies.”.”

Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “In today's digital age, a smartphone is our lifeline. From connectivity to photography to banking, smartphones today help us with virtually anything. Its repair cost is typically very high, and thus we need to protect it right from the beginning. We are delighted to partner with ICICI Lombard General Insurance to offer this smartphone insurance.”

ICICI Lombard has been at the forefront of providing millions of customers with access to personalize and simplified insurance plans based on their diverse needs. With this aim, the company has been introducing innovative collaborations and technology-enabled non-life insurance solutions to its customers.

Keeping user experience at its core, the company also offers tech-driven solutions such as the ‘IL TakeCare App’ where customers can purchase policies, manage claims, and renew policies seamlessly. Additionally, the company offers its customers the option to buy insurance through different channels at their convenience. Furthermore, it has been committed to deploying the latest technology, including Machine Learning, Artificial Intelligence, and Robotics, to facilitate seamless customer service, policy renewals, claim settlements, etc, making it easy for consumers to gain the best-in-class insurance protection conveniently anywhere and anytime.

About ICICI Lombard General Insurance Company Ltd.

We are one of the leading private sector non-life insurers in India. We offer our customers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels. More details are available at www.icicilombard.com

About Airtel Payments Bank Ltd.

Airtel Payments Bank, India’s first payments bank, was launched in January 2017. The Bank offers a diverse range of simple, safe and rewarding banking solutions through a strong network of 500,000 bank points spread across the country and its digital platforms. Airtel Payments Bank aims to take digital banking services to the doorstep of every Indian, particularly in unbanked rural areas, and contribute to the Government’s vision of Digital India and Financial Inclusion.

MSDE Recognises INS Shivaji As The Centre Of Excellence In Marine Engineering

With an aim to motivate military organisations and recognise their efforts towards skill and technology development, the Ministry of Skill Development and Entrepreneurship (MSDE) recognised INS Shivaji as the Centre of Excellence (CoE) in the field of Marine Engineering (ME) on 22nd March 2022. The recognition was given to INS Shivaji after a thorough examination of the infrastructure and facilities available, as well as the training provided to improve the skills of Indian Navy personnel, friendly foreign navies, and the entire eco-system. The recognition certificate was presented by the Honorable Secretary MSDE, Shri Rajesh Aggarwal, IAS to CMDE Arvind Rawal, Commanding Officer, INS Shivaji. The certification took place at the Ministry of Skill Development & Entrepreneurship, Shram Shakti Bhawan, New Delhi.

INS Shivaji is an Indian naval station in Lonavala, Maharashtra. It houses the Naval College of Engineering, which educates and trains Indian Navy and Coast Guard officials. The organisation was commissioned as HMIS Shivaji on February 15, 1945. INS Shivaji's Centre of Excellence (Marine Engineering) was established in 2014 with a broad mandate that included the induction of niche technologies for naval applications, quality research in collaboration with R&D and academic institutes of high reputation. The larger goal here was to improve the skills of the personnel across the Indian Navy, Friendly Foreign Navies, and the entire ecosystem.

The Ministry of Skill Development and Entrepreneurship (MSDE) has designated a Centre of Excellence (CoE) as a body that provides leadership, best practices, research, support, training of trainers, and skill training for a specific sector or sectors. The Centre of Excellence in the skilling ecosystem is envisioned as a one-stop resource centre established/working in partnership with industry to raise training standards, boost productivity, address emerging skill gaps, and align training and research with industry needs.

MSDE's designation of INS Shivaji as a Centre of Excellence is the first of its kind for any military organisation, and it reflects the INS Shivaji's continued commitment to skill and technology development. The award will solidify INS Shivaji's position as a preferred training institution for high-quality R&D collaborations with industry and prestigious academic institutions both within and outside India.

About Ministry of Skill Development and Entrepreneurship (MSDE)

MSDE was formed on 9th November 2014, by the Government of India to focus on enhancing employability of skills. Since its inception, MSDE has undertaken significant initiatives and reforms in terms of formalizing the policy, framework, and standards; launching of new programs and schemes; creating new infrastructure and upgrading the existing institutions; partnering with States; engaging with industries and building societal acceptance and aspirations for skills. The Ministry aims to bridge the gap between demand and supply of skilled manpower to build new skills and innovation not only for existing jobs but also for jobs that are to be created. Till date, more than three crore people have been trained under Skill India.

Bank Of Baroda Partners With Reserve Bank Innovation Hub To Boost Financial Inclusion Of Women Using Technology

* RBIH launches Swanari TechSprint - a programme aimed at developing digital solutions to bridge the gender gap

Bank of Baroda, one of India’s leading public sector banks, announced today that it is partnering the Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the Reserve Bank of India, to promote financial inclusion of women in India. RBIH has launched a programme on Gender & Finance named "Swanari" that seeks to combine technology with a greater focus on women to help women achieve financial security and independence. To that end, RBIH is launching the inaugural edition of Swanari TechSprint, which Bank of Baroda is supporting as a scale-up partner, to create digital solutions to close the gender gap.

TechSprints are problem-solving sessions that promote innovation and collaboration to create technology-driven solutions to complex problems. The core objective of the Swanari TechSprint is to improve financial inclusion of women in India using technology and will serve as a platform to encourage women-led start-ups and women in tech to create and produce smart, creative and sustainable solutions for underserved women from low and middle income backgrounds and women-owned enterprises in India. The Swanari TechSprint will be held from April 18 to April 22, 2022.

Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda said, “Using technology to provide solutions to the country’s critical problems is a powerful idea. Bank of Baroda is proud to extend support to RBIH’s Swanari TechSprint initiative to help bridge the gender divide in India. A collaborative approach, centered on innovation will ensure the best outcomes for women, accelerating financial inclusion and boosting the economic empowerment of women in the country.”

The Swanari (???-????) TechSprint will bring together fintechs, financial service providers, innovators and subject matter experts to collaborate, ideate and find solutions to specific problems and code prototype solutions in real-time.

There are seven problem statements that have been identified and two event tracks are available for participation. One track will focus on creating a minimum viable product (MVP) with enough usable features to be tested by and validated by users. The second track will focus on solving problems and designing prototypes in collaboration with others. Registrations are open at www.swanaritechsprint.in. 

RBIH has also released a whitepaper titled “Gender and Finance in India” supporting the Swanari TechSprint, which is available at www.swanaritechsprint.in.

About Bank of Baroda:

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 18 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.

SIDBI’s “Prayaas” Programme Benefitting Entrepreneurs At Bottom Of The Pyramid

Small Industries Development Bank of India (SIDBI) through its Prayaas Programme, in partnership with financial and non-financial intermediaries provides financial assistance upto `5 lakh at an affordable rate to the entrepreneurs at Bottom of the Pyramid.  Till date, an amount of `276 crore plus has been disbursed under the scheme to benefit more than 18000 small entrepreneurs who are at sustenance level and aspire to reach an enterprise level. 

Shri Kshethra Dharmasthala Rural Development Project BC Trust” (SKDRDP), a charitable trust, operating in the States of Karnataka and Kerela has partnered with SIDBI for taking the Prayaas Initiative forward.  

Shri V Satya Venkata Rao, Deputy Managing Director, during his visit to SKDRDP at Dharmasthala met Honorable Dr. D. Veerendra Heggade, President, SKDRDP along with other officials and assessed the overall performance and impact of the Prayaas Scheme. It was very encouraging to note that this partnership has benefitted 3500 plus micro entrepreneurs and aims to bring many more in its fold in coming years to meet the financing gap in this space. 

Shri Rao, DMD, SIDBI said that Prayaas is an “Impact Program” of the Bank launched with the objective to improve livelihood opportunities for the borrowers at a low-cost capital and the Bank would continuously work in this direction. 

Mother’s Recipe Reveals Secret Of “Husband ko saas ke samne nachane ki recipe” In Its New TVC Campaign ‘Life ko Spicy banao’

A little excitement is required to break the monotony of our everyday life. Food is something that can elevate your mood and create happiness instantly. Keeping this perspective in mind Mother’s Recipe, one of India's leading FMCG brands has launched a new TVC for its Desi Szechwan with No added MSG under its subcategory ‘Recipe’. Through this ad film, the brand aims to convey how consumers can bring spice not only to their food but also add spice to their life by using Recipes’ Desi Szechwan.  

The newly launched second TVC is an extension of the campaign ‘Life ko spicy banao’. Life without fun, adventure, and excitement is bound to get boring. The TVC portrays a funny & light-hearted narrative, wherein the wife demonstrates ‘how to’ – husband ko saas ke saamne nachane ki recipe. The brand illustrates a creative allowing homemakers to try out different fusion combinations. The campaign intends to connect with today's youth by creating smaller memorable moments. The best bit of Recipe’s Desi Szechwan is that it does not contain MSG and is prepared using the highest quality ingredients.  

The Campaign Video:  

Husband ko saas ke saamne nachane ki Recipe While parents and children resume school & work their time spent at home has been reduced, the campaign captures daily relatable occasions when the family connects over dinner time. The TVC depicts a regular meal-time scenario, where the wife is shown cooking simple aloo ki sabzi (potato dish), and the husband is busy video chatting with his mother. The husband sulks upon his mother asking him what food has been prepared, the wife hears the conversation and decides to add Recipe’s Desi Szechwan which completely gives the dish a relishing twist. The TVC campaign presents funny yet everyday situational communication, keeping one glued to the creative throughout and bringing a smile on one’s face in the end.  

Campaign Video link: https://youtu.be/aQ4bzOlc61g   

Commenting on the latest TVC launch Ms. Sanjana Desai, Executive Director, Mother’s Recipe, said “Our latest campaign ‘Life ko spicy banao’ spotlights occasions where Recipe’s Desi Szechwan can turn otherwise mundane moments into much more memorable ones by bringing in a delicious twist. We love to experiment, push ourselves and reach out to the audience in a different way. Through our new TVC, we want to connect with the youth and resonate as a brand, which is different, genuine yet exciting”. 

The latest TVC will be shown on all social media platforms, it would also appear in Google display advertisements and, social media, on-the-ground activations, as well as OOH and offline campaigns.  

Triton Communication Creative team added, “The campaign focuses on how we can bring in excitement to our mundane lives create memories. We are elated and privileged to be a part of the team. As life has become more fast-paced and most of us are being pressed for time, Mother’s Recipe products become a savior. Through the campaign, our purpose was to highlight the exciting flavors of Recipe’s Desi Szechwan which can add a twist to both food and life”. 

Tata Motors To Increase Prices Of Commercial Vehicles From April 1

Tata Motors, India’s largest commercial vehicle manufacturer, has announced an impending price hike of its commercial vehicle range. An increase in price in the range of 2-2.5%, will come into effect from 1st April 2022 across the range, depending upon individual model and variant.

The increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials, has incited this price hike of commercial vehicles. While the company has initiated actions to absorb a significant portion of the increased costs, at various levels of manufacturing, the steep rise in overall input costs makes it imperative to pass on some residual proportion via a minimized price hike.

About Tata Motors

Part of the USD 109 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 34 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and amongst the top three in the passenger vehicles market.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, fueled by state of the art design and R&D centers located in India, UK, US, Italy and South Korea. With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by preparing a tailor-made product strategy, leveraging the synergy between the Group companies and playing an active role liasoning with the Government in developing the policy framework

With operations in India, the UK, South Korea, Thailand, South Africa, and Indonesia, supported by a strong global network of 103 subsidiaries, 9 associate companies, 4 joint ventures and 2 joint operations as on March 31, 2021, Tata Motors’ commercial and passenger vehicles are marketed in countries, spread across Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.