Farmers Fresh Zone Acquires Milk Chain Platform AM Needs In Kerala

Farm produce online retailer Farmers Fresh Zone (FFZ), incubated in Kerala Startup Mission (KSUM), has acquired milk delivery platform AM Needs for $2 million (Rs 15.95 crore) in cash and stock deal.

With this acquisition, FFZ adds country-milk and value-added products to its product category and it can provide unadulterated country milk to its consumers. Last September, FFZ got Rs 6 crore Pre-Series A funding led by Indian Angel Network (IAN). The online company targets Rs 1,000 crore revenue in the next five years.

FFZ, which operates in Kochi, Thiruvananthapuram, Thrissur, Kottayam, and Coimbatore, directly procures products from local farmers within 16 hours of harvest by giving them remunerative prices and take them to consumers.

Founded in 2019 by Sujith Sudhakaran and Ranjith Balan, AM Needs has built a technology stack and platform to ensure delivery of fresh items to customers before 7 am every day. The delivery platform, which is present in four cities in Kerala, offers products like milk, vegetables, and breakfast essentials.

Currently, AM Needs collaborates with Milma to sell milk and dairy products. It delivered more than 1.2 million orders last year.

Commenting on the takeover, Pradeep PS, Founder and CEO, Farmers Fresh Zone, said the acquisition adds locally sourced pure country-milk to their portfolio.

“Using the AI-based app, ‘Captain Farm’, we can ensure food safety and traceability for fresh products. We will also be expanding to more cities,” he noted.

According to Sujith Sudhakaran and Ranjith Balan, Co-founders of AM Needs, the collaboration brings in tremendous scope for the company, besides ensuring more effective service to their customers.

Nagaraja Prakasam, Lead Angel investor and Board Member, FFZ, said FFZ pioneered ‘Know your farmer’ and now customers can ‘know their milk’ as well.

Padmaja Ruparel, Co-founder, IAN and Founding Partner, IAN Fund, said consumers are aware of the quality of food and its impact on health. FFZ has created the farm-to-fork supply chain to ensure food safety and such a benchmark in quality will also be applied to the sale of milk.

KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.

Union Bank of India Announces Digitalization of “Kisan Credit Card”

Union Bank of India announced an Industry-first, farmer-focused end-to-end digitalization of “Kisan Credit Card” product as part of flagship Digital Transformation project ‘Sambhav’. The product aims to digitalize KCC lending process, making it more efficient and farmer friendly.  

Digitalization of Kisan Credit Card is a Fintech initiative of Union Bank of India in collaboration with Reserve Bank Innovation Hub (RBIH) under guidance of Reserve Bank of India (RBI), aimed at overcoming the challenges faced by farmers like in-person visit to a bank branch, submission of land ownership and other documents, and high turn -around time in getting the KCC.  

Launched by Ms. A Manimekhalai, MD & CEO, Union Bank of India in Harda District of Madhya Pradesh, as Pilot Project, the event was attended by Mr. Rakesh Ranjan, Chief Product Manager, Reserve Bank Innovation Hub (RBIH) and Senior Management Team of Union Bank with more than 400 farmers of Harda District. The event was also graced by Mr. Rishi Garg, District Magistrate of Harda District along with his team. Based on the learnings from the pilot, it is planned to expand the digitalization of KCC lending to other districts of Madhya Pradesh and gradually across the country. 

At the launch event, Ms. A Manimekhalai spoke about the importance of Digitalization of KCC as a transformation in rural financing. She further briefed about the benefits of digitalization of KCC with initiation of journey directly through mobile handset. There is no need to visit a branch. No document submission is required. Farmland verification will be done online. The Turn Around Time (TAT) reduces as entire sanction & disbursement process gets completed in couple of hours. 

Photocpation Ms A. Manimekhalai, MD & CEO, Union Bank of India, along with Shri  Rishi Garg, District Magistrate, Harda, Shri Rakesh Ranjan, Chief Product Manager, RBIH, Shri Sanjay Narayan, General Manager(Digitization) & Shri R L Meena Field General Manager, Bhopal, Union Bank of India at the launch of Digitalized "Kisan Credit Card” 

Bank of Baroda Ranks #1 In EASE 4.0 Reforms Index For FY2021-22

* Recognised as the Overall Top Performing Bank  

* Ranked #1 in Smart Lending and 24X7 Banking; Ranked #3 in Tech-Enabled Banking, Prudent Banking and Governance & HR 

Bank of Baroda (Bank), one of India’s leading public sector banks, has been named the “Overall Top Performing Bank” in the EASE 4.0 Reforms Index for FY2021-22. Further, the Bank is ranked #1 in Smart Lending for Aspiring India and New Age 24X7 Banking and #3 in Tech-Enabled Ease of Banking, Institutionalizing Prudent Banking and Governance & Outcome-centric HR.  

Smt. Nirmala Sitharaman, Hon. Union Minister of Finance & Corporate Affairs, felicitated the Bank at the awards function organised by the Indian Banks’ Association (IBA) on 16th September 2022. 

Enhanced Access and Service Excellence (EASE) is a reforms initiative by the Department of Financial Services (DFS) for Public Sector Banks. The focus areas for EASE 4.0 were i) Digital Lending backed by Analytics ii) 24x7 Banking iii) Data-enabled Agricultural Financing and iv) Collaborating with the Financial Ecosystem. 

Shri Joydeep Dutta Roy, Executive Director, Bank of Baroda said, “Over the last few years, Bank of Baroda has been on a journey of transformation. We are delighted to receive this honour, which is a testimony to the reforms undertaken by the Bank. With technology at the centre, the Bank has been at the forefront taking various initiatives in the digital space to make banking easier and more convenient for our customers, while at the same time aimed at increasing internal efficiencies and reducing costs. My compliments to the entire Bank of Baroda team and our partners as we continue to raise the bar to build an institution that we are all proud of.” 

“The EASE Reforms have played a big role in the transformation of the Bank. We would like to acknowledge the support & guidance received from the DFS, Government of India, our regulators and the IBA in making this possible,” added Shri Joydeep Dutta Roy.  

Last year, in the EASE 3.0 PSB Banking Reforms Index, Bank of Baroda was ranked #2 overall.  

SIDBI Signs MoUs With Stakeholders To India’s Sustainable Development Goals (SDG) 2030

SIDBI, towards its continuing effort for MSMEs to embrace energy efficiency in operations and reduce their Carbon Footprint status, entered MoUs with stakeholders that will contribute to India’s SDG  2030 Targets.

1.    Sectoral Engagements with GiZ 

Waste Solutions for a Circular Economy in India 

An agreement was signed to announce the collaboration of Small Industries Development Bank of India (SIDBI) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for operating a Risk Sharing Facility (RSF) housed within the NAMA Facility entitled ‘Waste Solutions for a Circular Economy in India’ project. The project has the Ministry of Environment, Forest and Climate Change (MoEFCC) as the nodal Ministry and the Ministry of Housing and Urban Affairs (MoHUA) as the implementation partner Ministry. 

SIDBI will operate the RSF that provides credit guarantees to loans from commercial banks or NBFCs (Non-Banking Financial Companies) in order to accelerate activities of waste management companies, low-carbon waste management solutions, biomethanation, recycling, composting, and Refused Derived Fuel for use in cement kilns. 

The RSF’s initial budget would be EUR 4.2 million which will be from the NAMA Facility. The project will also support building of awareness and capacities among various stakeholders, thereby enhancing the success of the RSF. Around 15 waste management companies have already shown interest in accessing debt guarantee facility from the RSF during the pre-launch event held in August.  

The NAMA Facility is a multi-donor programme that supports the implementation of NAMA Support Projects (NSPs) that affect sector-wide shifts toward sustainable, irreversible, and carbon-neutral pathways. It is funded by the German Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection (BMUV), the UK Department for Business, Energy and Industrial Strategy (BEIS), the Danish Ministry of Climate, Energy and Utilities (KEFM) and Ministry of Foreign Affairs (MFA), the European Commission (EU), and the Children’s Investment Fund Foundation (CIFF).  

2.    TIFAC – SRIJAN 

SIDBI signed an MOU with Technology Information, Forecasting and Assessment Council (TIFAC) to collaborate for the identification of scalable green and clean technologies under MSMEs. Under the collaboration, TIFAC will provide support through assessment of technologies and projects, where SIDBI will support MSMEs through financing under its various credit schemes to implement the identified technologies. This will help commercialization of innovative technologies through industries particularly MSMEs and startups, where SIDBI would capitalize technical strength and capabilities of TIFAC as a knowledge partner in technoeconomic assessment and provide financing under its various schemes.   SIDBI and Tifac shall explore deepening outreach of program including extending equity infusion into innovative/ problem solving technologies and exploring to create a fund which will support the Green Innovative Technologies. A video showing the success stories under SIDBI – TIFAC Srijan Programme was also released by Shri Sivasubramanian Ramann, CMD, SIDBI on the occasion.  

TIFAC and SIDBI recognize that cooperation among the two parties will further accelerate the development of MSMEs across India in a structured and planned manner through synergies. It may be mentioned that under jointly channelised SRIJAN, till now, 38 innovative technology projects have been supported and all have successfully been commercialised.  

3.     Capacity Building collaboration with CII  

An MoU has been signed between SIDBI and The Confederation of Indian Industry (CII). The partnership will enable SIDBI to Promote clean & green initiatives among MSMEs, facilitate their implementation, SIDBI’s financing schemes for renewable energy, energy efficiency, clean & green projects, and capacity building & skill development. SIDBI will also recognise the rooftop solar vendor rating program and consider rating provided under the program as one of the tools in financing rooftop solar projects. CII will facilitate through organizing webinars/ workshops on various clean and green initiatives related to renewable energy (especially rooftop solar), energy efficiency/ management, net zero, green buildings, resource efficiency, circular economy, etc. In these webinars, some of the initiatives of CII-Godrej GBC such as Indian Green Building Council (IGBC’s) Net Zero Energy Buildings Rating System, Green Company (GreenCo) Rating System, and Rooftop Solar Vendor Rating Program (VRP) may also be covered for the benefit of MSMEs. 

The objective of this MoU is to provide collaborative support for the benefit of MSMEs which also includes continually improving renewable energy (RE) adoption, environmental performance, resource efficiency and reduce costs & improve competitiveness of MSMEs. 

Honda Cars India To Organise “Nationwide Service Camp” From Sep’21-30, 2022

Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India, has announced a “nationwide service camp” across its authorized dealership facilities in 239 cities from 21st – 30th Sep’22 as a part of the company’s customer-centric initiatives to provide an enhanced ownership experience.  

Honda customers can avail attractive offers on Value Added Services such as Exterior, Interior enrichment, Anti-rust Treatment and many more. During periodic maintenance service, vehicle will be thoroughly inspected, consisting of a battery check-up, electrical system inspection, suspension inspection and other crucial components. HCIL technicians will also provide best advice about the vehicle's health (diagnosis).  

Talking about the initiative, Mr Kunal Behl, Vice President Marketing & Sales, Honda Cars India Ltd. said, “Honda Cars India is committed to offer the best of Honda services to all its customers. The nation-wide mega service camp is a reaffirmation of our commitment. We want our customers to make the most of this initiative, get expert care for their cars and experience the joy of owning a Honda Car.” 

During the service camp, customers can take advantage of the fixed-price Periodic Maintenance service. 

Attractive offers are also available on customer paid BP jobs and General Repair jobs.  

Get Pujo Ready With Fabindia Across India This Festive Season

* Celebrate Traditions . Celebrate Craft . Celebrate Family

This Durga Puja embrace your traditional side with Fabindia’s latest PUJO collection highlighting the rich hues, elegant craftsmanship and the vibrancy of this festive season. Weaving in the traditions and cultural heritage of our craft, PUJO is a time for celebrating and rejoicing in divinity and purity. This festive season, Fabindia wants you to enjoy the five-day-long-fiesta in the best Indian ensembles that elevates your style. Pick your favourites from your nearest Fabindia store or shop online at fabindia.com. Our latest saris, kurtas, jewellery and Pujo decor celebrate the rich heritage of India and exquisite craftsmanship.

Saris: Keeping the spirit of festivity alive, Fabindia brings you an elegant collection of fabsaris representing our Indian traditions. These gorgeous and easy-to-wear all-day saris are available in bright colours, with auspicious red being the prime shade. This range of Pujo saris are available in silk and silk blends displaying several of our craft-led techniques weaving in traditions of Chanderi, Tussars, Benarasi, Maheshwari dobby, jacquards and handloom weaving methods. 

Kurtas: Versatile and comfortable kurtas are everyone’s first pick. At Fabindia we know this well. Hence our designers have put together a special festive collection- Kurta is Celebration.

Wear them for various festivities this season and beyond. Fabindia brings you its latest kurta collection made from silk and silk blends; these kurtas are threaded using age-old Banarasi and handloom weaving techniques as well as hand-crafted embroideries. These hand-crafted kurtas display India's rich artisanship. Kurta is Craft . Kurta is Festive . Kurta is Celebration .

Jewellery: Festive worthy handcrafted jewellery and accessories are on offer at Fabindia. Intricate details, beautiful style, exquisite craftsmanship. Accessorize this Pujo with brand new arrivals from Fabindia.

Home & Pujo Décor: Bring home the Pujo celebrations with fabHOME & fabgift collections consisting of hand-crafted diyas, votives, pujo thalis and much more. Alluring brass elements that are intrinsic part of our Indian traditions

Get Pujo ready with Fabindia. Elegant designs, auspicious reds, intricate craftsmanship, hand-crafted weaves, graceful additions to home and lifestyle. Celebrate Traditions with Fabindia. 

Tata Motors Launches All-New 5W30 Synthetic Engine Oil For Commercial Vehicles

* Promises lower TCO, improved fuel economy and reduced carbon impact

Staying true to its DNA of consistently delivering customer delight with the lowest total cost of ownership, Tata Motors, India’s largest commercial vehicle manufacturer, today announced the launch of the 5W30 synthetic engine oil developed specially to boost the performance of the new-generation BS6 diesel engines.  By enhancing engine life and reducing friction between the moving parts, the 5W30 synthetic engine oil improves their reliability, durability and improves emission compliance. The vehicle uptime on the road increases for the transporter to earn more revenues and profits.

The new 5W30 synthetic engine oil has been extensively tested in varied and stringent conditions for over three years. It has been driven for more than ten lakh kilometres in difficult terrains, clocking more than 35,000 hours at the powertrain testing facilities. It uses a rich combination of high-performance polymer with a state-of-the-art additive technology blended in group III base oil.

On this occasion, Mr. Rajendra Petkar, President  & CTO, Tata Motors said, “Sustainability today has evolved from being just a niche engagement to an absolute necessity. It forms the core of everything we develop at Tata Motors. An effective and efficient engine oil is one of the most convenient and cost-effective ways of reducing a vehicle’s carbon emissions. The cumulative impact of such simple measures judiciously taken across all commercial vehicles plying on roads will result in an exponential improvement in carbon footprint reduction. Our team at the Engineering Research Centre (ERC) has been co-engineering and developing lubricant formulations in-house, while closely working with strategic partners from the field of additive manufacturing. This has enabled us to traverse all unexplored innovative paths and this product is an outcome of such an approach.”

Global priorities are now increasingly anchored around Environmental, Social, and Governance (ESG) factors. With its commitment to reduce emissions intensity of its GDP by 45 percent by 2030, from 2005 levels, India too has made reduction in carbon footprint a national priority.

Tata Motors too has embarked on its journey of defining ESG aspirations with a view of holistic sustainability. This introduction of synthetic engine oil for it is a step forward to deliver clean and green options, beyond vehicles, to deliver improved fuel economy, longer drain interval and enhanced engine wear protection, resulting in reduced carbon footprint of the vehicles.

Tata Motors has been spearheading technology changes across the industry through its stewardship in the areas of efficiency improvements, alternative and new energy paradigms, safety, digitalization and in-cabin experiences through connected vehicle technologies and a host of other value enhancers. All of these are glued together to institutionalisation of sustainable practices in every aspect of its business of developing innovative mobility solutions.