NIC Honestly Natural Ice Cream Introduces Special Combo Offers For Raksha Bandhan

NIC Honestly Natural Ice Cream, the fastest-growing ice cream brand in the country after having established itself as one of the most popular brands in India has introduced an array of exciting flavours and combo offers on the festive occasion of Raksha Bandhan. Rakhi is a symbol of love, join hands with NIC Honestly Natural Ice Cream and celebrate the bond of love, protection, and care and gift your loved ones something special and natural. 

“We all love celebrating a joyous occasion like Raksha Bandhan surrounded by all our loved ones. The thought behind curating these combo offers is to double the love between you and your sibling and be a part of this celebration. As our brand name suggests, we assure the purity of the ingredients used to make our ice creams is just as pure as the bond between two siblings.” said Sanjiv Shah, Director, Walko Food Company Pvt Ltd.

Chocolates are a thing of the past, feast on NIC Honestly Natural Ice Cream’s delicious ice creams on this Raksha Bandhan and celebrate the function in style. The brand believes in providing its customers with all-natural, pure goodness while ensuring the creaminess of milk along with the natural taste of fruits in all of its flavours.

NIC Honestly Natural ice cream has introduced a variety of combos like ‘Best Friend Gift Box’ which includes Tender Coconut (100ml), Dry Fruit Overloaded (100ml), and Sitaphal (500ml). ‘Bandhan Gift Box’ which includes Dry Fruit Overloaded (100ml), Gulab Jamun (100ml), and Kesar Pista (500ml). ‘Special Gift Box’ which includes Sea Salted Caramel (500ml), and Madagascar (500ml). ‘Honest Love Gift Box’ which includes Tender Coconut (100ml), Dry Fruit Overloaded (100ml), Gulab Jamun (100ml), and Sitaphal (1ooml). ‘Sibling Gift Box’ which includes Belgian Chocolate (500ml), and French Vanilla (500ml). All the combos are available on Food-Tech platforms like Swiggy, Zomato, and Dot Pe.

About NIC Honestly Natural Ice Cream:

NIC Honestly Natural Ice Cream was founded in 2015 on the principles of providing uncompromising quality, innovation, and a superior customer experience. Honestly Natural Ice Cream is not only their motto; it is also a promise that contains no artificial flavours, colouring agents, or preservatives. NIC Honestly Natural Ice Creams has won the prestigious BARC Rising Brand Award in March 2022. NIC Honestly Natural Ice Cream is the most popular ice cream brand on FoodTech platforms such as Swiggy and Zomato, with flavours ranging from fruit and dry fruit variations to international flavours such as Mediterranean Sea Salted Caramel, Madagascar Chocolate, French Vanilla, and those inspired by Indian sweetmeats such as Gulab Jamun, Sheer Khurma, Til Gud, and Gajar Halwa to name a few.

Visit us at www.nicnaturalicecreams.com Follow us on Instagram @nicicecreams

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Poonawalla Fincorp Maintains Profitability, Growth And Asset Quality In Q1, FY’23

Poonawalla Fincorp Limited (PFL), a non-deposit taking, systemically important NBFC focusing on consumer and MSME finance, recently announced a 118% year-on-year (YoY) rise in net profit in Q1, FY2023 at Rs. 141 crore, due to improvement in Net Interest Margins (NIM) by 155 basis points YoY to 9.5%. The non-bank lender’s Assets Under Management (AUM) grew by 22.4% YoY to Rs 17,660 crore and 6.5% QoQ. Disbursements under the company’s Direct, Digital and Partnership model (DPP) have almost doubled from 17.5% in Q4 FY22 to 34.1% of the total disbursement in the current quarter.

Commencing with two or three products, PFL today offers a diverse product range which includes personal loans, pre-owned car finance, loans against property, professional loans, small business loans, loans for medical equipment, and the newly launched loans for machinery and supply chain finance products. Furthermore, PFL will launch EMI cards, credit cards, consumer finance, and merchant cash advances over a 12-18 month period.

The product focus on pure retail segments of consumer and MSME finance continued. The Company further consolidated its leadership in the pre-owned car finance and loan to professionals segment. Also, the quarterly disbursements across product lines of Business Loans, Personal Loans, Loan to Professionals, Pre-Owned Cars and Loan Against Property were the highest in Q1FY23. This, coupled with consistent increase in lending via the Direct, Digital and Partnership (DDP) model of origination, has further strengthened and diversified the company’s distribution.

Poonawalla Housing Finance Limited (PHFL), the 100% subsidiary of PFL, crossed the AUM milestone of INR 5,000 cr., clocking 30.5% y-o-y growth to stand at an AUM of INR 5,282 cr. this quarter.

Both Poonawalla Fincorp and Poonawalla Housing Finance continue to have long-term rating of ‘AA+ / Stable’ by CRISIL and CARE.

The company’s vision is to be amongst the Top 3 NBFCs in consumer and MSME lending with a risk-calibrated accelerated growth and triple its FY21 AUM by 2025. The company will continue with its rigor on execution, investment in people, building technology and a strong retail consumer franchise, and is well on course to deliver an exceptional performance in this financial year.

About Poonawalla Fincorp

Poonawalla Fincorp Limited (Formerly known as Magma Fincorp Limited) is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange in India (NSE). Consequent to the capital raise of Rs 3,456 Crore in May’21, the Company is now part of the Cyrus Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Mr. Adar Poonawalla.

The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. Poonawalla Fincorp Limited (“PFL”) has a widespread coverage with 231 branches across 21 States. The Company along with its subsidiary has AUM of Rs 17,660 crore and employs more than 5,000 people. Its financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, SME LAP, supply chain finance, medical equipment, consumption loans and affordable home loans.

For more information, log on to: www.poonawallafincorp.com

MSME Credit Disbursement Accelerates While Credit Quality Stays Stable

* High Risk MSMEs (CIBIL Rank 7 to 10) comprise more than half (57%) of accounts reported as “restructured due to COVID-19”, implying astute implementation of policy to support vulnerable MSMEs

Findings from the latest edition of the TransUnion CIBIL-SIDBI MSME Pulse Report indicate that credit disbursement to the MSME sector has doubled compared to pre-pandemic levels across segments, indicating that lenders are in a position to support increasing credit demand. Overall, MSME credit exposure stood at ?23.12 lakh crores as of March ’22, reflecting a year-on-year (YoY) growth rate of 6.3%. The total number of live MSME borrowers increased by 6% YoY in March 2022.

Credit demand and supply continued to remain buoyant

Report analysis shows that MSME credit demand has been progressively increasing after the second wave of the pandemic, with current demand clocking ?1.6X that of the pre-COVID phase. Commercial credit inquiries have picked up in the last year owing to the recovery in economic and business activity. Public Sector Banks (PSBs) have seen a 1.6X inquiry growth while Private Banks (PVTs) witnessed 1.7X growth as compared to that of the pre-COVID phase. Non-Banking Financial Companies (NBFCs) showed recovery trends following the second pandemic wave in the first quarter of FY22. NBFCs showed a 1.4X growth in inquiries as compared to that of the pre-COVID phase.

Speaking on the findings of this edition of MSME Pulse, Mr. Sivasubramanian Ramann, Chairman and Managing Director, SIDBI, said: “Insights on credit demand and supply from this edition of MSME Pulse verify that timely liquidity infusion through the ECLGS has strengthened the MSME sector towards resurgence. Lenders have successfully executed the ECLGS and provided timely support to all the MSME segments. With this infusion, MSMEs can scale business growth rapidly.”

Adding to this, the Managing Director & CEO of TransUnion CIBIL, Mr. Rajesh Kumar, said: “The increase in MSME credit demand across segments bodes well for economic resurgence. By catering to this demand astutely, lenders can grow their portfolios while contributing to financial inclusion as well as GDP growth. The resurgence can be strengthened further by facilitating speedier and more seamless triangulation of multiple sources of information for creating an orthogonal view of MSMEs. Fortified information infrastructure that provides an enriched view of MSMEs can build the bedrock required for scaling sustainable and long-term evolution of India’s MSME sector.”

The rise in demand has been well supported by lenders with total MSME credit disbursement clocking 43% YoY growth in FY22-Q4. Compared to the pre-COVID phase (FY20-Q4), disbursement across all three MSME segments have almost doubled in FY22-Q4. Disbursements in the micro, small and medium segment increased YoY by 19%, 33% and 38%, respectively from FY21 to FY22.

Analysis of the NPA rate indicates a marginal uptick with the overall level of MSME NPAs at 12.8% in March ’22. Important to note that the NPA levels reflect a higher percentage because of historical accumulation. Ageing analysis of NPA highlights that of the total balances in 90+ days-past-due (DPD), ? 70% pertain to accounts originated till March 2017. NPAs in the MSME segment have shown an upward trend since March ’21. Until Q3 of FY21, the micro segment (~9% in FY20-Q4) had a similar NPA rate to the small segment (~9% in FY20-Q4) of MSMEs. However, this trend has now flipped indicating that COVID has impacted the micro segment the most. Lender type analysis reveals that the NPA rate of Private Banks (5.6% in FY22-Q4) remained stable since FY21-Q3. Public Sector Banks (20.8% in FY22-Q4) and NBFCs (9.6%) however have exhibited an increase in the NPA rate after Q3 of FY21.  The NPA rate for the NBFC segment continued to grow at a steady rate over the last 2 years.

Public Sector Banks reported maximum restructured accounts

This edition of MSME Pulse covers a study on restructured loan accounts which have been reported to the TransUnion CIBIL Commercial Bureau with reference to the Reserve Bank of India’s notification* on reporting of restructured accounts due to the COVID pandemic. Following this mandate, lenders have reported restructured loans under the “Restructured due to COVID-19” tag. Study insights based on the restructured accounts show that as of March ’22, 2.7 Lakh credit accounts have been tagged as restructured due to COVID-19 in the MSME segment (aggregate outstanding of less than 50Cr) which constitutes around 2.3% of the total live accounts reported in the same time period. From a balance perspective this constitutes INR 0.35 lakh crore which is around 1.5% of total MSME balances outstanding as of March ’22.

Bank type analysis of restructured loans indicated that Public Sector Banks reported the largest number of restructured accounts to the TransUnion CIBIL Commercial Bureau followed by Private Banks and NBFCs.

CIBIL Rank (CMR) based analysis further shows that High Risk Entities (CMR-7 to CMR-10) constitute 57% of restructuring followed by medium risk (CMR-4 to CMR-6) at 28% entities and low risk entities (CMR-1 to CMR-3) at 16%. This clear rank ordering demonstrates that CIBIL MSME Rank (CMR) is able to identify stressed portfolio and enable lenders to take timely corrective action from a risk management perspective.

With reference to the type of loans, it was observed that term loans are restructured more than working capital loans. This trend bodes well and implies that MSMEs are prudently managing their liquidity through cash credit (CC) or overdraft loans. Micro and small entities constitute 76% of the restructured accounts compared to larger sized MSME entities which is also driven by the high proportion of such loans in the bureau. 

“Small and medium businesses form the backbone of India’s economic engine and are the catalysts for sustainable economic growth. It is therefore vital to support them with a conducive ecosystem for accessing affordable financial opportunities easily and quickly. By collaborating with regulators, credit institutions and the wider industry to create meaningful insights and digitization-led framework, we are working hard to enable MSMEs to have greater access to financial opportunities seamlessly while helping foster financial inclusion,” concludes Rajesh.

Tata Motors Signs Definitive Agreement For The Acquisition Of Ford India’s Sanand Plant

Tata Passenger Electric Mobility Limited (TPEML), a subsidiary of Tata Motors Ltd, and Ford India Private Limited (FIPL), have today signed a Unit Transfer Agreement (UTA) for the acquisition of FIPL’s manufacturing plant situated at Sanand, Gujarat, which inter-alia includes: (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated therein; and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand, for a total consideration, exclusive of taxes, of Rs 725.7 Cr (Seven Hundred Twenty Five Crores and Seventy Lakhs).

FIPL will continue to operate its Powertrain Manufacturing Facility by leasing back the land and buildings of the Powertrain Manufacturing Plant from TPEML on mutually agreed terms. TPEML has agreed to offer employment to the eligible employees of FIPL’s Powertrain Manufacturing Plant in the event of FIPL’s cessation of such operations.

The closure of the transaction will be subject to the receipt of relevant approvals from the government authorities and fulfilment of customary condition precedents. The government of Gujarat, TPEML and FIPL have already executed a tripartite MoU on 30th May 2022 to support all relevant approvals for the above transaction.

Tata Motors Passenger Vehicles business has delivered market beating growth over the last few years and has strong plans to sustain this momentum, with its robust pipeline of future ready “New Forever” products and proactive investments in electric vehicles. With our manufacturing capacity nearing saturation, this acquisition is timely and a win-win for all stakeholders. It will unlock a state-of-the-art manufacturing capacity of 300,000 units per annum which is scalable to 420,000 units per annum.

TPEML would make the necessary investments to reconfigure the plant to adapt to Tata Motors' existing and future vehicle platforms. The unit is adjacent to the existing manufacturing facility of Tata Motors Passenger Vehicles Limited at Sanand, which should help in a smooth transition.

Announcing this, Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, said, “The agreement with FIPL signed today is beneficial to all stakeholders and reflects Tata Motors strong aspiration to further strengthen its market position in the Passenger Vehicles segment and to continue to build on its leadership position in the Electric Vehicle segment. It will accelerate the growth and development of the Indian auto industry by taking a progressive step forward towards building a future ready Atmanirbhar Bharat”.

“Today’s announcement marks an important step forward in Ford’s ongoing business restructuring in India, which is part of our Ford+ plan for strategic transformation. With the transfer of employment for eligible vehicle manufacturing employees included in the agreement, this milestone also highlights our best effort in caring for those impacted by the restructuring,” said Steve Armstrong, Transformation Officer of Ford Motor Company.

“The shared values of trust, ethics and putting people first were the driving force behind our agreement with Tata Motors. We are confident that both the state-of-the-art manufacturing set-up as well as the world-class talent will continue to prosper under the new leadership and help Tata Motors to scale new heights,” Armstrong added.

Both TPEML and FIPL will work together over the next few months to satisfy all the condition precedents and obtain the required regulatory approvals for the closure of the transaction.

Hero MotoCorp Launched A New Campaign, #KhudKiSunLe For Destini 125 Xtec, Featuring Siddhant Chaturvedi

Recognized for defying stereotypes and creating impact through compelling messaging, Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today launched a new campaign, #KhudKiSunLe for Destini 125 Xtec, featuring the company’s new brand ambassador and youth icon, Siddhant Chaturvedi.

Following the success of Hero Pleasure+ Xtec #LadkiChalaRahiHai campaign, which challenged the clichéd "Arre pakka ladki chala rahi hogi," Hero MotoCorp has returned with the energized high-decibel #KhudKiSunLe campaign for the recently launched Hero Destini 125 Xtec. The campaign is engineered to be an enlightening instrument intended to help the youth to rationalize societal expectations of fitting into the widely acknowledged definition of being acceptable.

In the commercial actor Siddhant Chaturvedi, is seen riding a stunning Destini 125 XTEC in Nexus Blue Colour. Along the way, he encounters young people who are involved in various scenarios where their decisions are overridden by those of others. Siddhant performs a powerful rap throughout to enlighten these youngsters to the reality behind their obvious choices. 

Through the rhythm of an intense rap with a pivotal turning point – Khud Ki Sun Le!, the TVC intends to initiate a culture of making brave choices that are backed by discernment.

Commenting on the launch of the new TVC, Mr. Ranjivjit Singh, Chief Growth Officer, Hero MotoCorp said, “Our message aims to empower the youth to act on their inclination and normalize making brave choices, for their greater good. This is reflected in our newly launched, Destini 125 Xtec, which has been built with the most ergonomic features. It has retained its retro-frontal design, it sports a metal body and has added smart upgrades like Bluetooth Connectivity, Digi-Analog Speedometer, LED headlamp to be in sync with the times. And that has made it one of the most stylish and efficient of scooters on offer. It celebrates the confluence of two worlds – Style and Tech – to create the vehicle of choice for the confident, discerning and opinionated youngster. We are confident that Destini 125 XTEC will be a crowd-puller.”

Speaking about the new TVC, protagonist and Hero MotoCorp’s brand ambassador, Siddhant Chaturvedi said, "KhudKiSunLe is close to my heart for many reasons, one of them being that it reflects my personality. I have seen people not taking easily to being different or choosing the less-traversed path. The obvious reason has either been second-guessing themselves and their gut feeling or going with what the majority favours. In the process, they have lived with significant indolence weighing down the power of their expression. I have always believed in the rigour of making well-informed decisions and I am excited to be propagating the same through the Destini 125 XTC commercial.”

The TVC, conceptualized and executed by McCann Worldgroup, for the new-age Hero Destini portrays the Destini 125 XTEC for what it is - the perfect companion for the smart, confident, and daring youth who isn't afraid to follow their own instincts. The campaign is being brought to life through a robust 360-degree surround campaign panning across multiple platforms- TV, Print, Digital and OOH.

Link to campaign TVC: https://www.youtube.com/watch?v=WM-SdMysvmw

Credits

Director: Anupam Mishra

Creative Agency:  McCann Worldgroup

Premium Electronics Brand By U&i Lyne Unveiled In Mumbai on July 24

* Lyne enters the consumer electronics market with its sleek and affordable product range

Lyne, a brand by U&i, was launched on July 24, in the presence of their brand ambassador, actor Vidyut Jammwal. Lyne offers an affordable and prime range of consumer electronic products to its customers.

Photocaption: (L - R Paresh Vij, Meet Vij, Vidyut Jammwal, Navin Vij, Kavya Vij)

The founders, Meet Vij, Paresh Vij, and Navin Vij, hosted a grand launch event that took place at Hotel Lalit, Mumbai attended by their major stakeholders and stockists. The co-founders and National Business Head, Sandeep Sawhney, addressed the attendees with their vision for Lyne, followed by performances by renowned dance troop MJ5 and a virtual product tour.

With the launch of over 50 products in 10 categories, Lyne plans to establish itself, online and in stores. Its premium product line is anticipated to be distinctive and unparalleled in terms of quality and design. Some of its main high-demand products will include smart watches, data cables, neckbands, and earbuds. The product line will have an affordable price range starting right from Rs 499, owing to its six international manufacturing units and a packaging unit in India. The brand will also establish more domestic units in the upcoming months to meet consumer demand.

The company was created on the foundation of the long-running family business. After many years of involvement in the industry with their previous ventures, the company plans to grow by leveraging its previously maintained goodwill in the distribution chain and strong relationships with all its stakeholders, including manufacturers, dealers, and retailers.

"We have observed how the customers’ preferences and requirements have changed over the years. The idea of Lyne was conceived keeping in mind their top priorities in any electronic gadget—high quality, sleek design, and reasonable price. Our vision is for Lyne to be a complete one-stop solution for all the mobile accessory requirements that customers can think of, and we’re excited about it," said Meet Vij, co-founder, Lyne.

The brand ambassador, Vidyut Jammwal said, “I am incredibly excited to be working with Lyne as their brand ambassador. As someone who considers physical fitness hugely important, I am always on the lookout for smart products that complement my fitness regime like Lyne's smart watches and sweat resistant audio accessories.  I am eager to see the kind of innovative products they come up with, and wish them success in the future."

Lyne wishes to steadily grow and expand its customer base throughout the country  by offering an exquisite experience with their products that are a class of their own. 

About Lyne

Lyne by U&I is a second generation, innovative mobile devices and accessories brand. Their assortment of products is exceptional and unmatched in terms of both quality and price. Building from the foundation of their family business, Meet Vij, Paresh Vij, and Navin Vij, the co-founders, established Lyne with the aim of providing an endless number of products and services to its customers, hence making it a one-stop brand for all of their requirements. The company intends to go up the ladder and become one of India's most reputable consumer electronics firms with its bold, stylish, and robust products and powerful distribution network.

“One of the main reasons that I was not just drawn, but also impressed by Lyne was because of how tuned they were, with the needs of the customer. They have understood that customers from all walks of life prefer premium quality products at affordable prices. With the abundance of products available in the market, Lyne’s products really stand out for me, thanks to them tapping into the global trends of mobile accessories”.

Unacademy Launches Updated Notes 2.0 For UPSC Learners

* Notes 2.0 are a more comprehensive set of study material for Unacademy UPSC Learners

Unacademy, India’s largest learning platform* has recently launched an updated version of study material - Notes 2.0, a more comprehensive study solution for UPSC CSE-GS Learners. All active Unacademy Learners** with a one-year or above Unacademy UPSC CSE-GS subscription will get access to Notes 2.0 free of cost.

Designed to offer a one-stop solution for a UPSC aspirant; Notes 2.0 consists of a set of 20 books (~5500 pages) that are curated by top UPSC content experts. The books are currently available in English. The relevance of an updated and well curated set of study material is crucial for a UPSC aspirant as the entire exam syllabus is vast. Notes 2.0 resolves that gap through comprehensive notes of the entire curriculum.

A cohesive study solution, Notes 2.0 is an in-depth evolved iteration from its previous version that covers all subjects part of the latest UPSC CSE-GS syllabus such as History, Geography, Polity, Economy, Science and Technology, Indian Society and more.

Through Notes 2.0 Learners will get access to:

All the Previous Years UPSC Questions asked during the Mains Examination from 2013-2020 with model answers

Precise illustrations of mind maps and timelines in the form of tables, flowcharts and bullet points that will help aspirants to memorize and recall concepts and topics easier

All contemporary issues which are concisely covered. Further critical opinion-based topics are also included as most questions asked in the UPSC Mains examination are opinion-based

Wisdom nuggets from experts are also embedded that will test the Learners' knowledge after each section

About Unacademy Group:?

Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015. Started as a YouTube channel by Gaurav Munjal in 2010, Unacademy is India’s largest learning platform with a growing network of 91,000+ registered Educators and over 92 million Learners. With education being imparted in over 14 Indian languages to Learners across 10,000 cities, Unacademy is changing the way India learns. Unacademy Group comprises of Unacademy, Graphy, Relevel, and CodeChef.

*Source: The Indian Edtech Story: Q1 2022 Round-Up by Markelytics

** T&C Apply