BOB Financial Launches Its Mobile App “bobcard” In Indian Market

* Partners with IBM to create an elevated digital experience for customers - powered by cloud 

* Simplifies rewards redemption, limit management, EMIs conversion, credit card bill payments and more for its customers 

* Launched record number of cobrand credit cards for Defence personnel, professionals like CA, CS, CMA  

* Recently entered the One million club with double the rate of industry growth 

BOB Financial Solutions Limited announced the launch of its credit card servicing mobile app,”bobcard”, to give its customers a one-stop solution to manage their Bank of Baroda credit card services on the move. Designed in collaboration with IBM, ‘bobcard’ is a smart digital platform that offers a battery saver dark-themed interface that is pleasing to the eye, an attractive design and secured access with face ID, fingerprint lock & PIN, and a smart eye feature that ensures the card details of customers remain private. 

To complement its faster-than-industry business growth and to delight its customers, the leading card player’s new mobile servicing app ‘bobcard’ will provide customers with the convenience to: 

Manage card usage limit 

Redeem reward points instantly  

Convert high-value transactions into Smart EMIs 

Pay credit card bills on time   

Mr Shailendra Singh, MD & CEO, BOB Financial, said, “The app has been built aspart of our vision to be an impactful credit partner with strong tech infra. We’re already onboarding our new customers through a digital-all process; it is a given that we make them have this convenience of availing all card services digitally only with a few simple clicks on their mobile phones, anytime, anywhere on the move.  And the app offers enhanced security which is our major commitment to our customers. The app is now available for both iOS & Android users, and we are confident that this new tech delivery will add a lot of convenience to our customers’ day-to-day lives.” 

Mr Rishi Aurora, Senior Partner & FSS Sector Leader, IBM Consulting, India/ South Asia said, “We’re thrilled to partner with BOB Financial on their digital transformation journey and enable their commitment to implement sustainable business practices. The new digital platform for Bank of Baroda credit card customers leverages our deep industry expertise and is built on an open cloud-based scalable architecture with minimalistic design as its core value proposition. The ‘bobcard’ app is powered by intelligent workflows at the backend to deliver an engaging & secure user experience for the customers.” 

Customers can download ‘bobcard’ app from the App Store (iOS users)/ Google Play Store (Android users), and start using after linking it with their registered mobile number.  

About BOB Financial Solutions Limited: 

BOB Financial Solutions Limited was established in the year 1994. It is a Non-Banking Financial Company, wholly owned by Bank of Baroda. The Company’s primary business is in credit cards with its key differentiator being simple, easy-to-understand products that are fairly priced and efficiently serviced. A pioneer in the space of credit cards, BOB Financial offers an array of products catering to all segments of customers. It is leveraging state-of-the-art technology to provide unique payment solutions to its customers. 

For more information, visit www.bobfinancial.com 

ATS ELGi Announces Manufacturing Agreement With VTEQ, Spain

* 7500 sq. ft. world-class facility setup to manufacture imported vehicle testing equipment for India, in India at affordable price points

ATS ELGI, a wholly-owned subsidiary of Elgi Equipments Limited and India's largest garage equipment manufacturer, announced its manufacturing agreement with VTEQ, a global leader in vehicle testing equipment based out of Spain. With this partnership, ATS ELGI will set up a world-class 7500 square feet manufacturing facility to manufacture previously imported vehicle testing equipment for the Indian market at competitive prices. The equipment spans brake, suspension, slip, and speedo testers, axle play detectors, and steering gear play.  

Commenting on the partnership, Praveen Tiwari, Managing Director, ATS ELGI Ltd., said, "We are excited to embark on this new journey with VTEQ. We have been maintaining VTEQ vehicle testing equipment in India for Government-run testing centers for over five years as a natural extension of our association with them. For several years, all of these products were imported into the country. With this breakthrough agreement, we will now manufacture proven products in the country and offer them to customers at affordable prices. In addition, ATS ELGi's widespread sales and service network will ensure customers have access to faster procurement of equipment, high uptime, and quick response rates for addressing maintenance and spare parts requirements." 

"India was the fifth-largest car market in 2020, and the country's automotive sector, including components, is expected to be worth INR 16.1-18.1 trillion by 2026*. We’re also witnessing the Indian government introducing key initiatives - the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME), the National Automotive Testing and R&D Infrastructure Project (NATRIP), and the Bharat Stage (BS) VI standards to promote the country's automobile production and testing. Over the next five years, we expect over 200 testing centers will be set up in the country. We are looking forward to our partnership with VTEQ, which will provide us with an excellent growth opportunity," added Dr. Jairam Varadaraj, Managing Director, Elgi Equipments Ltd.

ATS ELGI, a wholly owned subsidiary of Elgi Equipments Limited, is the largest manufacturer and distributor of Automotive Service Equipment in India and offers the broadest range of garage equipment in the country.

*Source - https://www.ibef.org/blogs/high-speed-track-for-automobile-testing-in-india

About VTEQ, Spain: 

Founded in 2001 by personnel with extensive experience in the field of Vehicle Inspection Equipment for PTI (Periodic Technical Inspection), VTEQ was born with two main objectives, one, internationalization, and another, the spirit of continuous innovation, concepts that, after years have made VTEQ one of the most prestigious companies Worldwide.

The continued VTEQ international expansion in different markets for Periodic technical inspection (PTI), with more than 6000 vehicle inspection test lanes installed in over 80 different countries in which VTEQ operates, has made it a significant international player. 

For more information, visit: https://www.vteq.es/en

discovery+ With Neeraj Pandey, Manoj Bajpayee Uncovers India’s Untold Story With Its Upcoming Title – ‘Secrets Of The Kohinoor’

* The second chapter from the fan-favorite franchise ‘Secrets’ docuseries premieres exclusively on discovery+ starting Thursday, Aug 4, 2022 

* Enriched with opinions from experts including Parliamentarian and Author, Dr. Shashi Tharoor, Historian Irfan Habib, renowned Archaeologist K.K.Muhammedand, Adv. J Sai Deepak and Prof. Farhat Nasreen amongst others, the docuseries sheds light on the history and the importance of one of the largest cut diamonds in the world, the Kohinoor

For centuries, dark secrets and mystery shrouds one of the most beautiful and largest cut diamonds in the world- the Kohinoor. Retracing the story and controversies around what is inarguably India’s most prized possession that was wrongfully snatched during the British rule, discovery+ comes together with acclaimed director Neeraj Pandey – Friday Storytellers and the versatile National Award and Padma Shri-awardee Manoj Bajpayee for a fascinating docuseries in the ‘Secrets’ franchise, titled ‘Secrets of the Kohinoor, premiering on August 4, 2022.

After the roaring success of ‘Secrets of Sinauli: Discovery of the Century’, discovery+ is expanding the ‘Secrets’ franchise to showcase one of the most contentious debates on the origins and ownership of the illustrious jewel. The docuseries uncovers aspects like how, over the years, since its discovery, the weight of the diamond has been slashed down to less than six times its original weight; or that the Kohinoor, which we want to call our own, might not be the same diamond Emperor Babur mentioned in his memoir. Featuring Parliamentarian and Author, Dr. Shashi Tharoor, Historian and AMU, Irfan Habib, Dr. Adrienne Munich, Prof. Farhat Nasreen, K. K. Muhammed, Dr. Manvendra Kumar Pundhir, Navtej Sarna, J Sai Deepak, Dr.Danielle Kinsey, Dr.Miles Taylor and Master Diamond Polisher Ms.Pauline Willemse.

Directed by Raghav Jairath, the docuseries also uncovers the stories of multiple rulers and their insatiable desire for the Kohinoor which led to significant and very bloody wars, triggered agonizing mind games, and empowered rulers and ruined dynasties whilst exploring stories of powerful emperors whose lives intertwined with the diamond in unfathomable ways. Just like the Kohinoor with its timeless allure, Secrets of the Kohinoor through its sharp storytelling and creative treatment is expected to be just as riveting, serving as a guiding reference for enthusiasts, general audiences, and history connoisseurs in the years to come.

Speaking about the docuseries, actor Manoj Bajpayee, said, “The opportunity of presenting this particular series in the franchise has been a uniquely satisfying and a learning experience for me, and for that, I am truly grateful to discovery+ and Neeraj Pandey. This project marks my second collaboration with them. Despite being talked about for years, there are many facts about the Kohinoor that were unknown to me, and I am certain, they would be unknown to a majority of the world as well. The revelations made in the documentary took me by surprise and I cannot wait for viewers to explore this untold story and be just as surprised.”

Creator Neeraj Pandey, added, “The unseen, disguised and unknown historical facts have always intrigued and fascinated me to delve deep into the subject. After the amazing response to Secrets of Sinauli, the idea to explore the mystery of the Kohinoor excited us as it has been one of the most talked about diamonds in the history of time.” He further adds, “Our partnership with discovery+ has been great at bringing alive stories that are bigger, better, and bolder. Moreover, it is always a pleasure to work in collaboration with Manoj, who is a master of his craft and has taken the show to a whole new level with his striking storytelling expertise. The robust research, peppered with inputs from renowned scholars and experts, digs deep into the story of Kohinoor to surface lesser-known facets of its journey whilst narrating the importance of bringing it back to its homeland.”

Sai Abishek, Head of Factual & Lifestyle Cluster- South Asia, Warner Bros. Discovery, shared, “We’re pioneering the history genre with our distinctive offerings that appeal to audiences across age groups. We have added another Indian Originals IP to our already expansive history genre on the platform with the growing ‘Secrets’ franchise. Following the massive success of ‘Secrets of Sinauli: Discovery of the Century’, we realized the tremendous potential in the subject and thereby built on the successful collaboration with Neeraj Pandey and Manoj Bajpayee. The captivating history of Kohinoor and its unexplored aspects are even more prevalent now and need to be known by audiences across the globe.”

India’s untold story- ‘Secrets of the Kohinoor’ hosted by Manoj Bajpayee, will stream exclusively on the discovery+ platform starting Thursday, August 4, 2022.

About discovery+ 

‘discovery+’, an exciting D2C streaming app is launched to satiate the unmet need of a differentiated product, offering premium real-life entertainment. Priced competitively at INR 399 per annum, the app is developed and curated specifically for India. Discovery+ offers thousands of hours of exclusive content across 55+ genres, including Science, Adventure, Food and Lifestyle, in 7 languages including Hindi, English, Tamil, Telugu, Malayalam, Kannada and Bengali. The premium subscribers have access to a pool selection of never-seen-before Premium Discovery titles, must-watch documentaries, India originals and exclusive acquisitions. Free users of the app have access to all-time favorites from the Discovery library.

Rural India Takes Driving Seat In India’s Internet Usage Growth: IAMAI KANTAR Report

The recently released IAMAI KANTAR report titled ‘Internet in India’, based on ICUBE 2021 study, reflects a remarkable surge in internet users in rural India. According to the report, at present there are 692 million active internet users in India, and much of the growth continues to be driven by rural India (351 Mn users with 37% penetration), as urban India seems to have hit a plateau (341 Mn users with 69% penetration). The report also estimates that there will be 900 million internet users in India by 2025 led by rural growth. In terms of states, Goa has the maximum internet penetration while Bihar has the lowest.

More importantly for internet businesses in India, around 346 million Indians are engaged in actual online transactions such as e-commerce and digital payments, a number which is greater than the total US population estimated at 331 million. The global pandemic witnessed a record 51% increase in digital transactions in just two years from 230 Mn in 2019 in India.

In terms of gender break-up, there are more male internet users in India than female users, with almost similar gender ratios across both urban and rural users.

In terms of user cases, Entertainment, Communications and Social media are the top three activities engaged in by internet users across India. While Communications using text and e-mail is the most popular usage, the survey suggests that Voice and Indic languages usage will be the key drivers of growth in the future with two out of five rural internet users having done voice-based activities on their phones. The penetration of OTT services in rural India is at par with that in urban India, however, the penetration of other digital services such as online gaming, digital commerce and digital payments is still skewed in favour of urban users. This reflects a large head room for growth of such services among the rural population.

At present around 762 Mn Indians have not adopted internet yet, out of which 63% are rural Indians. ‘Difficulty to understand the Internet’, continues to be primary deterrent along with lack of awareness, especially in rural India.

About ‘Internet in India’ report

‘Internet in India’ report based on the ICUBE 2021 study, covering over 77,000+ households across all states and Union Territories of India (barring Lakshadweep), is an annual report which is the oldest and most comprehensive survey of internet usage in the country. The report is jointly prepared by Internet and Mobile Association of India (IAMAI) and KANTAR, the world’s leading marketing data and analytics company.

About Internet and Mobile Association of India

Established in 2004, the Internet and Mobile Association of India (IAMAI) is a not-for-profit industry body and the country's only organization representing the digital services industry with over 400 Indian and multinational corporations as its members, which include established companies in diverse sectors of the digital ecosystem as well as start-ups. Its mandate is to expand and enhance the online and mobile value-added services sectors. It is dedicated to presenting a unified voice of the businesses it represents to the government, investors, consumers and other stakeholders. IAMAI represents varied sectors such as digital advertising, digital entertainment, TravelTech, online gaming, digital payments, Fintech, digital commerce, Edtech, Healthtech, Agritech, blockchain, Big data, ML, AI & IoT, AR/ VR, LogisticsTech and so on.

About Kantar

Kantar is the world’s leading marketing data and analytics company. We have a complete, unique and rounded understanding of how people think, feel and act; globally and locally in over 90 markets. By combining the deep expertise of our people, our data resources and benchmarks and our innovative analytics and technology, we help our clients understand people and inspire growth.

Tata Motors, Axis Bank Join Hands To Offers Exclusive Electric Vehicle Dealer Financing Program For Authorized Passenger EV Dealers

Key Highlights:

* First-of-its kind exclusive Electric Vehicle Inventory Financing program for Tata Motors’ dealers

* Limits extended towards EVs will be over and above regular dealer finance limits for Internal Combustion Engines (ICE)

* Attractive special pricing linked to REPO rates

* Additional limit to cater in peak seasons, can be extended 3 times in a year

In a bid to make this festive season special, Tata Motors, India’s leading automotive manufacturer has joined hands with Axis Bank, India’s third largest private sector bank, to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, dealers can avail inventory funding over and above their ICE finance limit with attractive pricing linked to Repo Linked Lending Rate (RLLR). The repayment tenure will range from 60 to 75 days. Furthermore, the bank will also offer additional limit to cater to high demand phases, which will be available to dealers 3 times in a year.

The MoU for this partnership was signed by Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicle Ltd. and Tata Passenger Electric Mobility Ltd and Mr. Sumit Bali, Group Executive and Head – Retail Lending and Payments, Axis Bank in the presence of other senior executives from both companies.

Commenting on the rollout of this finance scheme offer, Mr. Ramesh Dorairajan, Senior General Manager – Network Management & EV Sales, Tata Motors Passenger Vehicles Ltd said, “We are extremely elated to associate with Axis Bank for this exclusive financing program for our authorized electric passenger vehicle dealers. Our dealers have been lock-step with us in our journey to enabling widespread EV adoption in the country. We are positive that this initiative will further support our vision to achieve the goal of green mobility and bolster sustainability in mobility sector in the country.”

Speaking of this partnership, Mr. Sumit Bali, Group Executive and Head – Retail Lending and Payments, Axis Bank said, “We at Axis Bank are deeply committed towards the objective of driving Green Mobility financing solutions. We are delighted to have associated with Tata Motors to offer a financing program exclusively for their passenger electric vehicles dealers. This industry first solution will help the bank to expand its base into newer consumer segments and address their financial requirements. We believe that the EV market will grow exponentially, and this partnership will go a long way in significantly contributing to this growth.  

Tata Motors has been revolutionizing the Indian automotive market with its pioneering efforts and is leading the e-mobility wave in India with a commanding market share of 87% in FY’22 and over 30,000 Tata EVs on road till date in personal and fleet segments.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (NYSE: TTM; BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 37 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, Tata Motors’ vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries. As of March 31, 2022, Tata Motors’ operations include 86 consolidated subsidiaries, two joint operations, four joint ventures and 10 equity-accounted associates, including their subsidiaries, in respect of which the company exercises significant influence.

About Axis Bank:   

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 4,759 domestic branches (including extension counters) and 10,161 ATMs across the country as on 30th June 2022, the network of Axis Bank spreads across 2,702 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge and Axis Bank Foundation.

For further information on Axis Bank, refer to the website: https://www.axisbank.com

Arun Nanda Retires From Mahindra Lifespaces After Three-Decade Association With Mahindra Group’s Real Estate Business

Mahindra Lifespace Developers Ltd., announced Arun Nanda’s retirement from the Board and as its long-standing Chairman. He will be succeeded by Ameet Hariani, who has been an Independent Director on the Board since 2017.

Arun Nanda joined the Mahindra Group in 1973 and has held several important positions within the Group over the years. He was inducted to the Board of Mahindra & Mahindra Ltd. (M&M) in August 1992 and resigned as Executive Director in March 2010 to focus on the social sector and create a favourable ecosystem for senior citizens. He continued as a non-executive director of M&M from April 2010 till August 2014. Arun Nanda served as a Director of the National Skill Development Corporation, Chairman of CII Western Region Council, Chairman of CII’s National Committee on Skill Development & Livelihood, and Member of the Governing Body of Helpage India. Arun Nanda is also Chairman Emeritus of the Indo-French Chamber of Commerce.  He is recipient of the highest honour, “Chevalier de la Legion d’Honneur” (Knight of the National Order of the Legion of Honour), by the President of the French Republic Mr. Nicolas Sarkozy in 2008, and several lifetime achievement awards from various industry bodies and media. 

Arun will always be remembered for his pioneering work in setting up the country’s first SEZ under the PPP model in Chennai and later in Jaipur. He will continue as the Chairman of Mahindra Holidays & Resorts (I) Ltd and Holiday Club Resorts Oy., Finland and as a Director of Mahindra Holdings Ltd. 

Speaking about the announcement, Anand Mahindra, Chairman, Mahindra Group, stated, “Arun has been an invaluable part of the Mahindra Group and been instrumental in its growth and expansion, especially in the services business. He spearheaded the Group’s foray into real estate and hospitality and set up Mahindra Holidays and Mahindra Lifespaces. His leadership and guidance over the decades, enabled these businesses to flourish and become key contributors to the diversity of the Group. He has been a mentor to several other businesses within the Group and his work in the social sector, particularly for senior citizens is laudable. Arun remains a trusted advisor and a friend and I wish him all the best as he continues his work within the Group and with the industry.”

Commenting on the announcement, Arun Nanda, stated, “I feel blessed to have been associated with the Mahindra Group in various capacities for nearly 50 years.  It gave me the opportunity to transition from a Chartered Accountant and Company Secretary to an Intrapreneur.  All this was possible because of the empowerment and trust Mr. Keshub Mahindra and Anand had in me.  As I get closer to 75, I want to spend more time with my Foundations working with senior citizens and skilling of youth, particularly in the tribal areas.  Mahindra Lifespaces holds a special place in my heart since I have been associated with the business since its inception.  I feel gratified that I am stepping down when the Company is on a very sound footing and growth path led by a strong Management. I wish the Company continued growth and success.”

Anish Shah, Managing Director and CEO, Mahindra Group, commented, “Arun is an exceptional leader who has had a deep impact on the Mahindra Group. He has played a crucial role in building the foundation for the Group over nearly half a century, which included setting up our real estate and hospitality sectors. We truly appreciate his contribution to the Mahindra Group, and his pioneering work in setting up the Mahindra World Cities. His contribution to critical industry areas such as skill development is significant. He remains an integral part of the Mahindra Group and continues to support the next generation of leaders. I am also very happy to welcome Ameet Hariani as the Chairman of the Board of Mahindra Lifespaces and am confident that the company will embark on the next chapter of growth under his guidance.”

Ameet Hariani is one of the country’s leading advocates with over 35 years of experience advising clients on corporate and commercial law, mergers and acquisitions, real estate and real estate finance transactions. He is the Founder and Managing Partner of Hariani & Co. Ameet has now transitioned to advisory practice as a senior legal counsel and acting as an arbitrator. He is a speaker at many events; and also writes frequently. He has authored a book on “Real Estate Laws”. Ameet is a Trustee of Healing Touch, an organization for assisting children with health issues. Ameet is also an Independent Director on the board of Mahindra Logistics Limited.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems.  The Company’s development footprint spans 32.14 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively.  The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2013, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India.  Mahindra Lifespaces® is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at  www.mahindralifespaces.com

Aditya Birla Health Insurance & Policybazaar.com Announce Launch of OPD Add-On Cover With Zero Waiting Period

o    Cover Offers unlimited physical outpatient consultation to address customer’s health and wellness, with premiums starting at ?599 per insured

o   Cover available from Day 1, Waiting Period not applicable.

Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), a significant non-bank financial services conglomerate, has launched ‘OPD Add-on’ for customers to address their health & wellness needs. This product can be added to the existing indemnity plans to provide unlimited medical consultation at an affordable price.

The OPD Add-on cover aims at solving customer problems by providing hassle-free physical and virtual consultation, which leads to a quicker treatment.  It also offers a range of special consultations such as Gynaecology, Orthopaedic, Paediatric, Ophthalmologist, Physiotherapist and Nutritionist, referred or prescribed by a General Practitioner, in relation to any illness or injury.

Mayank Bathwal, Chief Executive Officer, Aditya Birla Health Insurance said, “New-Age Insurance is all about being proactive, taking preventive measures and being there for our customer. Hence, we came up with an OPD Add-on cover with both physical and tele-consultation which can be easily accessible for policyholders. This cover will help them consult doctors virtually as well, irrespective of their location. We are excited to launch this product with Policybazaar and provide a comprehensive Health & Wellness ecosystem to customers, to enable them to live a healthier life. This partnership with Policybazaar will help us reach out to their large customer base, through their platform.”

Sarbvir Singh, CEO, Policybazaar.com commented, “Health insurance with OPD coverage is an urgent need for the country as 60% of all healthcare expenses are OPD, and these are currently paid out of pocket. This product solves a large unmet need. We have always had customers coming and asking for OPD plans and this should really help address that market gap. This completely aligns with our vision of making financial security accessible to every Indian household when they truly need it.”

Types of OPD Add-on Cover

·         Option (1) ?599 per insured (excluding tax)

o   Unlimited Physical Outpatient consultations by a General Medical Practitioner

·         Option (2) ?799 per insured (excluding tax)

o   Unlimited Physical & Virtual Outpatient consultations by a General Medical Practitioner

·          Option (3) ?999 per insured (excluding tax)

o   Unlimited Physical & Virtual Outpatient consultations by a General Medical Practitioner

o   2 Physical specialist consultations (Gynaecology, Orthopaedic, Paediatrics, Ophthalmologist, Physiotherapist, Nutritionist) referred/prescribed by General Practitioner

There is no waiting period in OPD Add-on cover which avails the cover from Day 1 and covers 32000+ doctor networks in 70+ cities. Selection of OPD Add-on will be applied at policy level. Hence, all the insured will receive benefit on an individual basis by default. The minimum and maximum age at entry will be as per the base policy.