Tata Motors Delivers 218 Winger Veterinary Vans To The Government Of West Bengal

* The feature-rich, customised Winger will be used by the Department of Animal Resource Development,

Government of West Bengal

Tata Motors, India’s leading commercial vehicle manufacturer, today announced the delivery of 218 Winger veterinary vans to the Government of West Bengal. The vehicles were flagged off by the Hon’ble Chief Minister of West Bengal, Mamata Banerjee, and Hon’ble Minister of Animal Resources Development, Government of West Bengal, Shri Swapan Debnath, along with delegates from the Government of West Bengal, Department of Animal Husbandry & Veterinary Services and Tata Motors. The specially customised Tata Winger will be utilised by the Department of Animal Resource Development for animal and livestock welfare. Tata Motors emerged as the top bidder, as per the terms and conditions of the Government body and delivered the fleet of fully-built Winger veterinary vans equipped with state-of-the-art features. The e-bidding process was carried out through the Government e-Marketplace.

Commenting on the occasion, Mr. Vinay Pathak, Vice President, Product Line – SCV, PU and Vans, Tata Motors, said, “With Tata Motors’ firm commitment towards enabling improved animal healthcare mobility, we are elated to deliver 218 Winger veterinary vans to the Government of West Bengal. We are happy to associate with the Government’s vision of providing veterinary services across the state. Built on Tata Winger’s versatile platform, the veterinary van is engineered to facilitate smooth operations in the state.”

The Tata Winger is powered by the 2.2-litre engine with improved torque and better fuel economy. It also offers an ECO switch and Gear Shift Advisor that helps in increasing the fuel efficiency. Additionally, the Winger's independent front suspension with anti-roll bars and hydraulic shock absorbers assure a smooth ride, as does its monocoque body design, which enables car-like driving dynamics and low levels of noise, vibration, and harshness (NVH).

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 we exercise significant influence.

Kotak Mahindra Bank Limited Announces Acquisition Of Sonata Finance, A Leading Microfinance Institution

* Acquisition offers access to 502 branches across 10 states, adds ~9.0 lakh women customers

* Strong presence in rural & semi-urban markets in the northern states of India, complimentary to Kotak Bank microfinance network 

* Augments Bank’s outreach to underserved customers and drive financial inclusion

Kotak Mahindra Bank (“KMBL” / “Bank”) today announced that it has executed binding share purchase agreement(s) to acquire 100% of equity shares of Sonata Finance Private Limited (“SFPL”), a Non-Banking Finance Company, classified as an NBFC-MFI, from existing shareholders, subject to regulatory and other approvals, including from Reserve Bank of India.

Transaction Structure and Valuation

The acquisition is for an aggregate all-cash consideration of approximately ? 537 crore. With this acquisition, SFPL will be a wholly owned subsidiary of the Bank after receiving regulatory and other approvals.

Strategic Rationale

Financial inclusion: SFPL provides a strong platform to enable the Bank to become a significant player in the financial inclusion segment, catering to economically weaker and underserved households in a commercially viable manner.

Complementary branch network: As of Dec 31, 2022, SFPL has an Asset Under Management(AUM)  of ~? 1,903 crore, servicing a customer base of ~9.0 lacs through  a branch network of 502 branches across 10 states, which complements the Bank’s microfinance network.

Potential to scale:  The Transaction provides the Bank with the opportunity to scale up its operations in the rural & semi-urban markets in the northern states of India. SFPL is an established microfinance player with almost two decades of experience and a deep understanding of customers in these markets.

Value accretive: The acquisition is expected to be value accretive from inception given the economies of scale and unlocking of efficiencies along with the Bank’s own distribution footprint and technology. The Bank will also leverage SFPL’s network to provide a wider suite of banking products to SFPL’s customer base matching their emerging banking needs.

Manish Kothari, President – Commercial Banking, Kotak Mahindra Bank said, "Sonata is a leading microfinance player and has built a strong enterprise over the last two decades. This acquisition is in sync with our broad vision and strategy. We had successfully acquired BSS Microfinance in 2017 and since then have been able to integrate  & steadily grow our presence in the financial inclusion segment with an advances book in excess of ? 5,300 crores serving ~1.3 million borrowers. There are significant potential synergies to be realized as a result of this acquisition and we look forward to continue serving the customers in a smooth and consistent manner and ensuring their needs are well-served going forward”.

Mr Anup Kumar Singh, CEO and MD of SFPL said, “I am extremely pleased that Sonata will be in trusted and experienced hands of the Kotak Mahindra Group. Sonata was started with the objective of providing financing to underserved customer segment. I believe this mission is best served in a scalable and sustainable manner on a big bank’s platform. The transaction will bring immense benefits to Sonata’s customers, employees and other stakeholders. I am pleased that current customer households of Sonata will benefit from Kotak Bank’s full range of products, and best-in-class digital services.”

“ I would like to thank all my investors, customers, employees and other stakeholders who contributed in building the Company to this stage.”

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking licence from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31st December, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,752 branches and 2,814 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, visit the company’s website at https://www.kotak.com/.

About Sonata Finance Private Limited

Sonata Finance Private Limited is a Non-Banking Finance Company (NBFC) having its registered office at Lucknow. It was acquired by Mr Anup Kumar Singh in January 2006 and was converted to NBFC-MFI on 3rd December, 2013. The Company is present into advancing micro finance loans to economically weaker section of the society and in particular to women through Joint Liability Group (JLG) and individual lending (IL) model. The Company is operating in 10 states through 502 branches and has active loans of around 9 lakhs with 2,882 employees as of 31st December 2022.

Hyundai Motor India Renews Partnership With Indian Women Cricketers Smriti, Shafali, Jemimah And Signs Up Yastika & Renuka

Hyundai Motor India Ltd, India’s first Smart Mobility Solutions Provider and largest exporter since inception today announced the next edition of #TheDriveWithin campaign with 5 Indian Women Cricketers - Smriti Mandhana, Shafali Verma, Jemimah Rodrigues, Yastika Bhatia and Renuka Singh.  Hyundai continues to recognise & motivate these rising sport stars as a catalyst in this action packed women cricket calendar of 2023.

Commenting on the campaign launch, Mr.Tarun Garg, Chief Operating Officer, Hyundai Motor India Limited (HMIL) said, “Hyundai Motor India deeply affiliates with our country’s sports spirit with a strong resolve to support the upcoming talent in the country. Athletes throughout the world are empowered by conviction and determination and they put in years of arduous training to become the best contenders at a global level. Driven by the same spirit within our organization, we aim to provide the best experience to our customers with our world-class products and future mobility solutions. #TheDriveWithin Campaign since 2022, has been the expression of Hyundai to bring forward the authentic narratives of Indian women cricketers and highlight their drive for victory so as to foster the spirit of sportsmanship across the country. It was so amazing to hear the illustrious accomplishments & stories of Smriti, Jemimah, Yastika & Renuka. At the same time, we missed Shafali at the shoot for the campaign, as she was making India proud on the global stage with the recent win”

Commenting on the association, the Five Cricketers from the Indian Women’s Cricket Team said:

Ms. Smriti Mandhana, “I have always known Hyundai to be an iconic and inspirational brand across the world. I am happy to be associated with a brand which is pioneering a Customer First approach & Future Mobility solutions. I look forward to being part of the Hyundai family and its captivating growth journey.”

Ms. Renuka Singh Thakur, "Connecting people with quality time. This is what Hyundai believes in and their vision is the true testament of the same. I am grateful to be part of the Hyundai Family and looking forward to this association as I pace myself towards grander growth."

Ms. Yastika Bhatia, “Being a Hyundai owner myself, it is a matter of sheer pride & honour. I look forward to being part of the Hyundai family and tagging along with their growth journey.”

Ms. Jemimah Rodrigues, “Tremendously happy to continue my relationship with Hyundai. It is highly motivating to be associated with a progressive brand like Hyundai which deeply shares the spirit of cricket and continuously puts efforts to support in every way”

Ms. Shafali Verma, “I’m pleased to be a part of the Hyundai family, which means a lot to me. Being committed to perform at the highest level and aiming to bring the best for the country is something we mutually share as our core belief.”

The #TheDriveWithin campaign shares immense synergy with HMI’s core fundamentals as it dives further to understand the perseverance and the grit of these path-breaking players. This campaign marks the celebration of these world-renowned women cricketers and a testament to years of gruelling training and hardships. The five individual stories will demonstrate their motivation and serve as a platform for encouraging budding sports talent in the country to win more accolades for India at the global level, making our great country proud.

About HMIL

Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). HMIL is India’s first smart mobility solutions provider and the number one car exporter since its inception in India. It currently has 12 car models across segments GRAND i10 NIOS, All New i20, i20 N Line, AURA, VENUE, VENUE N Line, Spirited New VERNA, All New CRETA, ALCAZAR, New TUCSON, KONA Electric and All Electric SUV IONIQ 5. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.

HMIL forms a critical part of HMC’s global export hub. It currently exports to around 85 countries across Africa, the Middle East, Latin America, Australia, and Asia Pacific. To support its growth and expansion plans, HMIL currently has 583 dealers and more than 1492 service points across India. In its commitment to providing customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D centre’s endeavour is to be a centre of excellence in automobile engineering.

APD Is Planning To Reach “14,885 Villages Across Karnataka To Help Spinal Cord Injuries Victims Lead A Meaningful Life”

* Cot to Community: A mission to help spinal cord injuries victims to lead a meaningful life 

About 1.5 million people in India live with spinal cord injuries (SCI), with an addition of 20,000 new cases every year. Nearly 78% of those affected are from rural India. Unfortunately, the cases are the highest in the highly productive age group of 18-30 years. The high treatment cost often causes financial stress on the families of the victims. This also leads to the physical, mental, and social isolation of the victims.  

The Association of People with Disability (APD), was founded in 1959 in Bengaluru by the late N.S. Hema, started an innovative project called “Cot to Community” in 2001 to help socio-economically underprivileged people with spinal cord injuries. The project aims to facilitate early identification and rehabilitation of an SCI victim, thus enhancing the person’s functional independence and aiding in leading a meaningful life. It also seeks to improve the health and well-being, financial security, and social participation of the person while easing the strain of being a caregiver. This approach increases their chances of getting an education, finding employment and being a part of social engagements.  

APD received a grant of ?5 crores in 2022 through HCL Grant, a CSR commitment by HCL Foundation, the corporate social responsibility (CSR) arm of HCLTech, to implement the project across 14,885 villages in Karnataka. The project aims to reach 2,962 patients with spinal cord injuries as well as 33,924 diverse stakeholders.  

In the last 10 months, saturated coverage of 18 districts was made possible through 44 dedicated staff serving 1512 Persons with Spinal cord Injury and 14412 stakeholders on Spinal cord Injury prevention and Management.62 beneficiaries underwent livelihood training for the entrepreneurship model, 236 Persons with Spinal cord Injury received assistive devices to achieve functional independence and 320  beneficiaries were extended with medical intervention supports to prevent and manage secondary complications after spinal cord Injury. The project also paved a tremendous inclusion opportunity through para-sports, where 30 beneficiaries were professionally trained in sporting events like Wheelchair basketball, para kayaking, para climbing, wheelchair badminton, and archery. 12 beneficiaries bagged 43 state-level and national-level medals. The impact of the project was also presented at two international forums, the Asian Spinal cord Injury Conference 2022 in New Delhi and the International Spinal Cord Injury Society Conference 2022 in Vancouver, Canada. 

APD has built a distinctive E3 model that enables, equips, and empowers the specially abled, using a robust community-focused approach. APD helps patients achieve a holistic quality of life by giving them access to multiple services including physical, social, psychological, accessibility, sports, recreation, and community re-integration.  

“Every human being has the right to live with dignity and have equal opportunities. To assist survivors to become independent and valued members of society, we need to develop the ecosystem via awareness, capacity building, and sensitization. The Association of People with Disabilities is engaged in a monumental mission by ensuring that people with disability have access to equal opportunities, entitlements, empathy, and integration,” said Dr. Nidhi Pundhir, Vice-President, Global CSR, HCL Foundation, while praising the Cot to Community project. 

APD is the pioneer organization in India offering comprehensive SCI rehabilitation. The charitable society supports children and adults with a range of disabilities including locomotor problems, spinal cord injury, speech and hearing impairment, cerebral palsy as well as mental issues through its various programs in rural and urban Karnataka. So far it has impacted the lives of over 5,00,000 PWDs from underserved neighborhoods.  

APD received the NCPEDP-Mindtree Helen Keller Award in 2019, the Award for contribution to Mental Health from NIMHANS and the E-Innovation Award from MUGU International Foundation in 2018. 

FADA Releases January’23 Vehicle Retail Data For The State of Karnataka

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for January’23 for the State of Karnataka.  

January’23 Retails 

Commenting on how January’23 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “The month of January has been a great start to the calendar year in Karnataka for Auto retail. All the categories have seen a strong growth with 2 W at 27.5%, PV at 17% , 3W at 113% , CV at 21% and tractors are 15%. We are hoping that the momentum will continue for the rest of the year.”  

Crown Records Management Inaugurates The Third Phase Of Records Management Centre In Chennai

Crown Worldwide Group, the world's largest privately held group of international logistics and related services companies, is pleased to announce the opening of the third phase of its state of art Records Management Centre in Chennai. As part of its commitment to provide an enhanced level of support to the clients, the records centre is one of its kind in the records management space in India.

The facility, with the addition of third phase shall store over 1.8 million standard carton equivalent (SCEs) and an additional 40,000 vault storage. The facility is equipped with the latest technology and security features to ensure the safekeeping of vital documents and records.

Crown has been operating here for the last 26 years in India having records management centres across 13 locations in New Delhi, Ludhiana, Chandigarh, Mumbai, Pune, Ahmedabad, Indore, Bangalore, Hyderabad, Chennai, Coimbatore, Bhubaneswar and Kolkata. The new facility will encourage deeper engagement with clients such as financial services, healthcare, legal, manufacturing and pharmaceutical industries with the need for business information storage

The inauguration ceremony on Feb 10, 2023 shall be led by Tze Sheng Kong (CEO Asia, Crown Worldwide Group), Srinivas Krishnan (Regional Managing Director – South Asia, Crown Worldwide Group) and Praveen Joseph (Assistant Vice President – South Asia, Crown Records Management).

The facility is equipped with advanced fire suppression systems, CCTV surveillance, and biometric access control to ensure the safety and security of the records stored in it. Additionally, the centre is climate-controlled to protect the records from extreme temperatures and humidity.

The new facility will enable Crown Records Management to offer its customers in Chennai and surrounding areas with a range of records management services including document storage, document imaging, and document destruction. This expansion will also create additional employment opportunities in the region.

"We are delighted to inaugurate the third phase of our records centre in Chennai," said Tze Shen Kong, CEO Asia, Crown Worldwide Group. "This expansion will allow us to better serve our customers in the region and contribute to the growth of the local economy."

Speaking on the development, Srinivas Krishnan, Regional Managing Director – South Asia, Crown Worldwide Group said “Since the acquisition of land in the year 2013 till date for our second wholly owned state of the art facility,  our Chennai operation has witnessed unprecedented growth and with the construction of vault and servicing office in Asthinapuram based on request plus feedback mainly from our existing and new BFSI ( Banking and Financial Services Industry )customers , we have been able to deliver enhanced value in this important market. We look to maintain the growth trend in this market in the near future in addition to our growing digital services.”

About Crown Records Management

Crown Records Management helps clients to maximize the value of their "corporate memory" through the storage, active management and smart and timely distribution of information assets.

With experts working around the world, Crown Records Management also offers data consultancy services, helping organizations manage the practicalities, legalities and risks of coping with increasing quantities of corporate data.

Crown's new generation of facilities set the highest standards in security, safety and work-flow efficiency. In 40 countries, we provide secure archiving and retrieval of information in physical and electronic format, as well as digital imaging, media management and data destruction.

Working with the financial services, healthcare, legal, manufacturing and pharmaceutical industries and many public sector organizations, Crown Records Management gives organizations the "power of memory."

Crown Records Management is part of the Crown Worldwide Group, established in 1965 and headquartered in Hong Kong.

Crown Records Management – The power of memory – www.crownrms.com

FIGSI Solicits Policy Changes To Give Boost To Stone, Granite Industry

The 15th edition of the spectacular bi-annual STONA, the third largest international Stone Fair, in Bengaluru  is all set to begin on Feb 15th at the Bangalore International Exhibition Centre. STONA 2023. The 4 – day long STONA Exhibition will be host to over 3000 stalls spanning over an area of more than 40,000 Sqm with country pavilions from China, Turkey, Iran, Sweden, besides the multiple individual exhibitors who will be participating from various countries. 

A flagship initiative of the Federation of Indian Granite & Stone Industry (FIGSI), STONA will be on till February 18th 2023 STONA has been working for the scientific development of the stone industry since 1983. The international stone fair serves is a veritable ground for new opportunities, facilitating to build relationships between domestic and international business houses, connecting designers, artisans, exporters and allied industry professionals. Not surprisingly, STONA is viewed across the world as the most preferred stage to promote natural stone and allied industries since 1987. 

A commendable journey

STONA has come a long way since its first edition in 1987, having grown by leaps and bounds over the last four decades, enabling exports to cross Rs 15000 crores by year 2022. The investment in the stone industry likewise has witnessed a steep climb in the country during this period, crossing Rs 50,000 crores and employing over 2 million. The 15th edition of STONA 2023 will be held between 15th to 18th February, where business generation is expected to cross over Rs 1000 crores in natural stones of India. STONA 2023 will also have on display a lot of new machinery introduced in the stone industry. 

Besides the stalls, STONA 2023 will also host two seminars, one pertaining to geology, on the topic of ‘Sustainable quarrying of natural stones’ where scientists and eminent speakers will participate. The second seminar will be on architecture on the topic of ‘Sustainable use of natural stones in architecture’ where prominent architects from across the country will deliberate. 

Given the strong intent to promote stone artisans of India, a special initiative, Shilpgram, will be host to 30 leading artisans from across the country, exhibiting their skills. 

"Stona is a biannual event in the stone industry that provides a platform for manufacturers, exporters, suppliers and service providers to showcase their products, services and technology. Stona is a great opportunity for the stone industry to network and collaborate, as well as to stay up-to-date with the latest developments and trends in the industry," said Ishwinder Singh, President, FIGSI.

"Stona is a must-attend event for anyone involved in the stone industry. The event provides a platform for companies to showcase their products and services, network with other professionals, and learn about the latest developments and trends in the industry. Whether you are a manufacturer, exporter, supplier, or service provider, Stona is an excellent opportunity to promote your business, make new contacts, and stay up-to-date with the latest developments in the industry," added Mr Manoj Kumar Singh, Chairman, STONA and Vice-President FIGSI. 

STONA 2023 will be inaugurated by Shri Halappa Achar, Hon’ble Minister of Mines and Geology, Government of Karnataka. Hon’ble Chief Minister Shri Basavaraj Bommai will be the Chief Guest for the Valedictory function.

Challenges faced by the stone industry 

India is home to the second largest deposit of natural stones in the world, housing 15 per cent of the world’s natural stone reserves, equivalent to 46.23 billion cubic metres. The country is also one of the top 5 granite producing countries, along with China and Brazil. It stands in third position in the world natural stone trade, employing 2 million people. Our exports of natural stones crossed $2.2 billion (Rs 15000 crores) in 2022.  

Yet, issues continue to plague the stone industry, hampering its smooth working. For instance, the stone industry, especially granite, is facing severe shortage of raw materials. “This is chiefly due to the closure of many quarries in the states of Karnataka, Andhra Pradesh and Tamil Nadu. The growth of the processing sector for the industry too has been very fast, with multiple processing units having been set up in the quarrying districts to meet the spiralling demand in domestic and international markets. But unfortunately the supply of raw materials has not kept pace with this growth to keep the units running. This calls for suitable policy changes, both at the State and National level”, stated Mr Ishwinder Singh, while elaborating on the challenges faced by the industry. 

The industry has also been facing other challenges such as competition from countries like China, Turkey, Brazil and Iran. There has also been unfair competition from similar products such as quartz, ceramic, porcelain, glass, negatively impacting the natural stone industry. False propaganda carried out about usage of child labour, radiation from stones affecting health, have again negatively impacted the natural stone industry. 

Soliciting policy changes 

Effective address of these challenges requires key policy changes starting from giving long term quarry lease of 30-50 years with guaranteed renewals/ extensions. The auction system needs to be dispensed with, replaced by royalty collection which is more practical. This would end illegal quarrying too and corruption, besides earning more for the State Exchequer. The quarry leases too need to be time bound, along with relaxation of conditions prescribed in environment clearance for the smaller quarries. 

Commenting on the accumulated quarry waste, Mr S Krishna Prasad, General Secretary, FIGSI stated, “Currently there is huge accumulation of quarry waste which is a major threat to environment. This waste needs to be constructively utilised as a value added product as well as meet social issues such as prevention of coastal erosion, use of aggregates and M-sand as replacement for natural river sand, usage in road construction, to name a few. In short the waste needs to be viewed as an asset and used in accordance as done in countries like China.”  

The recovery percentage of saleable blocks too needs rationalisation as currently this is low, varying from 5 to 20 per cent due to inconsistency in colour and texture, geological disturbances such as hairline fractures, joint spacing, integration of mineral constituents, long planes giving non-uniform patterns. Besides these, easy import of granite blocks should be permitted to add variety as well as permit Indian industry to take up projects across the world. Lastly, since everything boils down to economics, it is imperative that the current level of GST is reduced to 5 per cent on blocks and 12 per cent on slabs and tiles, to make our natural stone industry more competitive. 

Way forward

With the right policy support in place that is conducive for growth of the natural stone industry, the annual growth going forward can be expected to reach 10-15 per cent, aided by an increase in exports to the tune of 15 to 20 per cent. Creating conducive atmosphere will also push up investments to Rs 1 lakh crore from the current Rs 50,000 crores, providing employment to an additional 15 lakh skilled and semi-skilled workers in both rural and semi-urban areas.