Netflix And ACT All Set To Premier Rana Naidu In Hyderabad

ACT Fibernet, one of India's largest fiber broadband ISPs (Internet Service Providers) is thrilled to announce the premiere of Netflix’s upcoming crime-drama series ‘Rana Naidu’. For first-time ever, Rana Daggubati will be seen sharing screen space with his uncle Venkatesh Daggubati as they star as the father and son duo.

ACT Fibernet customers who have subscribed to the new Netflix plan will get a chance to win a free ticket to the premiere on 9th March 2023 at theatres in Hyderabad, Tirupati, Vijayawada and Vishakhapatnam, ahead of the show’s official launch on Netflix on 10th March 2023.

“We strive to deliver our brand promise of Feel the advantage to our customers. In line with this, we are delighted to bring unique experiences such as exclusive premiere of Rana Naidu in partnership with Netflix for our loyal customers.” Ravi Karthik, Head of Marketing and Customer experience Atria Convergence Technologies Ltd.

10,000+ Women Entrepreneurs Have Dispensed Over Rs 900 Crores Of Financial Services In The Last Financial Year: PayNearby Study

* PayNearby releases its annual ‘PayNearby Women Financial Index (PWFI)’ - a detailed analysis on ‘financial consumption by women at retail stores’ in 2022-23

*  More than 10,000 women entrepreneurs have dispensed over ?900 crores of financial services in the last financial year alone primarily in the state of UP, Rajasthan and MP

*  Over 76% of women who avail basic banking services at retail stores, prefer Aadhaar based biometric withdrawal (AePS) to access cash from their accounts

*  Most digitally adept women customers engaged in financial transactions at retail stores fall in the age group of 18-30 years

* Cash withdrawal, mobile recharges and bill payments are the top three services availed by women customers at PayNearby retail stores

*  Rs 1000-2500 was the most common range of withdrawal

*  Rs 500-1000 was the most common range of EMI payments

*  For saving goals - child education is the top priority, followed by savings for medical emergency

* Non-banking products like PAN services, entertainment, e-commerce and travel also saw a growth in adoption in this cohort

* Insurance awareness among women grew to 29% but consumption is still below 1%

In an interesting insight, PayNearby, India’s leading branchless banking and digital network, today said that more than 10,000 women entrepreneurs have dispensed over ?900 crores of financial services in the last financial year. The report further highlighted that more than 76% of female customers, who availed basic banking services at PayNearby’s retail outlets preferred biometric authentication as a mode of cash withdrawal. Interestingly, cash which dominated the payment space among women in FY 2021-22, still continues to hold strong, with around 48% of women saying they preferred dealing in cash. Aadhaar-led transactions and UPI QR too have gained momentum. Cards continue to have minimal presence in this segment.

The insight was shared as part of a detailed survey titled - PayNearby Women Financial Index (PWFI) – an annual Pan-India report showcasing financial consumption by women at retail stores, released by PayNearby in association with the Reserve Bank Innovation Hub (RBIH) today. The annual report, in its third edition, was prepared basis a Pan-India survey conducted by the company among 5,000+ retail stores in the country, recording financial transactions of women consumers as observed in those outlets.

According to the survey, more than 75% of the retailers mentioned that women within the age group of 18-30 years were the most digitally adept, with over 60% of this age bracket owning a smartphone and accessing digital content through it. This was immediately followed by the age group 31-40 years.

Over 65% of women customers, especially in the cash withdrawal markets, fell in the age group of 31-40 years, with AePS being the most used banking service. Though cash has lost some ground since the last report, it still continues to be the most preferred mode of payment with 48% citing cash payment as their first preference. Incidentally UPI too saw good growth in adoption among women consumers, with preferences ranging from 5-20% among different age groups. Card continues to have little to no recall and usage in this segment.

Approximately 78% of women cited cash withdrawal as the primary reason for visiting a retail store for financial transactions. ?1000-2500 was the most preferred range of withdrawal for women across the country.

Mobile recharges, bill payments and travel booking were the next three popular services availed by women customers at retail touchpoints. At urban and metro centers, money remittance saw good adoption with transactions being primarily conducted by young working women belonging to the age bracket of 21-30 years and 31-40 years. EMI payments at retail outlets also witnessed decent growth. Though mostly in the range of ?500-1000, the growth in EMI collection indicates increased awareness and appetite for credit and other financial products in women across the country.

The report further stated that while more than 74% of women operated their bank accounts themselves, they were primarily for the purpose of cash withdrawals and cash deposits. Interestingly, more than 20% of the women also admitted to their husbands operating their bank accounts instead of themselves.

When asked about their top three saving goals, ‘child education’ topped the list, which was followed by ‘medical emergency’ and ‘buying household electronic items’. Interestingly, there was a growing awareness among women to save for their children’s future with more than 68% of those surveyed citing good education for their kids as a priority for them. Saving for medical emergencies and rainy days stood at 30% with women being aware of future exigencies post the pandemic. 55% of women indicated ?500-750 as their preferred range for monthly savings. Formal savings instruments though, continue to see thin adoption, with less than 15% of those surveyed aware of formal savings instruments.

Consumption of evolved services such as insurance still continues to be low (1%) despite 29% of women being aware about insurance products. The survey highlighted that for India to be financially inclusive in its true sense, there is an impending need to create more awareness for the same, especially across rural and beyond Tier II markets. However, among the cognizant respondents, life insurance followed by health were the preferred choices.

Further, the survey indicated that almost 39% of women visiting Kiranas and retail outlets for financial transactions used smartphones and also availed WhatsApp actively. Adoption in cities was as high as 50-60%. Rural Bharat also saw a good adoption, with double-digit adoption almost everywhere in the country. This signifies a rising acceptance of digital services among women consumers visiting Kirana stores for financial transactions.

The research specified that there was an increased awareness for online entertainment and online commerce, with 16% and 23% of respondents showing willingness to consume these services digitally. It ratifies the fact that women at the last mile are ready to graduate to the next level of lifestyle and technology and validates the latent demand for such services among them.

Another interesting trend that was visible was the leap in travel bookings made by women customers at the retail outlets. 90% of the respondents showed willingness to book a rail ticket from their nearby store, with more than 16% confirming that they have booked one in the last year. Financial identity through PAN card issuance also saw good adoption in this cohort, and although the numbers are still small, it indicates the growing awareness among women to become self-reliant and be a part of the formal financial economy.

Commenting on the findings, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, “The findings in the PWFI report are inspiring and emphasize the fact that women of the country are slowly but steadily gearing up to walk hand-in-hand with India’s growth.

At PayNearby, we believe it is our responsibility to bridge the digital divide that exists between segments. Towards this purpose, more than 10,000 of our women entrepreneurs have distributed over ?900 crores of financial services in the last financial year. This uptake in the consumption of AePS and UPI at the last mile is the result of the progressive efforts of National Payments Corporation of India (NPCI). NPCI has been the flagbearer of India’s digital transformation and our constant guide in furthering Bharat’s digital journey.

We are also grateful to RBIH for helping us build a fertile ground and a brigade of futuristic Digital Naaris to carry the torch of inclusion further. We want women to have greater control over their earnings, savings, and other critical elements. For this, we aim to enable form-factor agnostic, simple-to-use platforms at all nearby retail stores, so that our women can take control of their futures and be active partners in the nation’s success story. Sashakt Naari, Sashakt Desh,” Mr. Bajaj added.

Commenting on PWFI, Rajesh Bansal, CEO, RBIH, said, “It is heartening to see that there is an uptake of digital financial products and services among women at the last mile. The PWFI report is an eye-opener and game-changer as it will help us leverage technology and innovation in the right direction. Serving as a template, it will help us build symbiotic partnerships and alliances in the financial services ecosystem to design smart, creative, and sustainable solutions for un/underserved women users in India. We are glad that RBIH has partnered with PayNearby in its journey towards building an inclusive nation and changing the notion of how finance is perceived by women or how the market sees and serves women as end-users. At RBIH, we believe economic empowerment will drive gender equality and we are committed to making all women self-sufficient by rooting for frictionless finance for all.”

Jayatri Dasgupta, CMO, PayNearby, said “India is at the cusp of a digital revolution. However, for this to happen, our women force needs the necessary tools to get inducted into this fast-moving digital economy. We are delighted to present our third edition of PWFI, an annual stock taking exercise of where we stand and what needs to be done to evolve women into equal participants in India’s growth journey.

It is encouraging to see young women actively consuming digital financial services across retail stores in the country. The women in Bharat are aspirational, and the increased uptake of services like assisted commerce, online education and PAN issuance validates our commitment to make these services easily available at a store nearby. Today, even though the journey is largely assisted, to make our women self-sufficient, we will need to work harder on creating a more empowered ecosystem around them. This means ensuring easy availability of all products and services that can break tech and cost barriers and be easily assimilated across all segments of the society.”

About PayNearby:

Incepted in April 2016, PayNearby is a DPIIT-certified company and India’s leading branchless banking and digital network. PayNearby operates on a B2B2C model, where it partners with neighbourhood retail stores and enables them with the tools to provide digital and financial services to local communities. PayNearby’s mission is to make financial services available to everyone, everywhere. The company aims to simplify high-end technology so that it can be easily assimilated at the last mile while transforming the lives of its retail partners and customers.

Today, PayNearby, through its tech-led DaaS (Distribution as a Service) network, serves 75% of India and is enabling services like cash withdrawal, remittance, Aadhaar Banking, bill payment and recharges, savings, travel, digital payments, insurance and more. Currently, PayNearby’s 50 lakh-plus micro-entrepreneurs across 20,000+ PIN codes assist 20+ crore customers across the country to the tune of more than ~7500 crores GTV per month.

To know more: www.paynearby.in

FADA Releases February’23 Vehicle Retail Data From Indian Market

Highlights

On YoY basis, total vehicle retail for Feb’23 grew by 16%. All categories witnessed double digit growth with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor and Commercial Vehicles growing by 15%, 81%, 11%, 14% and 17% respectively. 

While the 2-Wheeler segment showed growth on YoY basis, it is yet to recover and reach pre-pandemic levels.  

The 3-Wheeler segment for the first-time breached pre-pandemic level of Feb’20 as it grew by 3.3% when compared to Feb’20.  

Passenger Vehicle category continues to hold on to its growth despite rural market which is yet to see full recovery. 

Bharat tightening its belt due to inflation adds as a key risk for rise in automobile sales 

The US government weather agency, National Oceanic and Atmospheric Administration, in its forecast earlier this month had predicted that El Niño could return as early as June, when the southwest monsoon sets over the Kerala coast. This may act as a threat to normal monsoon and thus impact Automobile sales going ahead. 

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for February’23.  

February’23 Retails 

Commenting on how February’23 performed, FADA President, Mr. Manish Raj Singhania said, “February’23 continued to witness double digit growth of 16% YoY but was still down by -8%, when compared to pre-covid month of February’20. All categories also witnessed double digit growth with 2-Wheeler, 3-Wheeler, Passenger Vehicle, Tractor and Commercial Vehicles growing by 15%, 81%, 11%, 14% and 17% respectively on YoY basis. 

The 2-Wheeler category witnessed a growth of 15% YoY but was down by -14% when compared to pre-covid month of February’20. The change in OBD norms which comes into effect from April along with marriage season kept the sales ticking. On the overall, high inflation and poor sentiment has kept the customers at bay.  

The 3-Wheeler segment has seen 81% growth YoY and has also grown by 3% when compared to pre-covid month of February’20. This category has seen a drastic growth due to Central & State Government’s subsidy along with good scheme promotion done by the states. Along with this, aggressive finance schemes continues to aid growth for this category.  

The Passenger Vehicle segment saw a growth of 11% YoY and 16% when compared to pre-covid month of February’20. Launch of new models, continuously improving supply coupled with healthy booking to cancellation ratio and wedding bells kept the momentum going for this already well to do segment.  

The Commercial Vehicle category has also shown robust growth by growing 17% YoY though it fell by -10% when compared to pre-covid month of February’20. Walk-in enquiries improved during the month. Apart from this, demand has also increased due to change in OBD norms which is will see price hikes. On the Government’s side, infrastructure spending has been healthy. This is also aiding better sales.”  

Near Term Outlook 

The month of march has multiple festivals like Holi, Ugadi, Gudi Padwa, Navratri etc. This will help push auto sales. Apart from this, better availability of vehicles, last month of the Financial Year, change in OBD norms from April which will increase vehicle prices, the industry may see schemes being rolled out by the OEMs thus aiding higher sales.  

On the flipside, India’s chief economic advisor said that urban demand recovery is taking place at a faster pace then rural. This along with sharp slowdown in private consumption expenditure to a 2-year low suggests a softening in household spending demand amid inflationary pressure as post covid pent-up demand starts to fade.  

Apart from this, the Finance Ministry has released a statement that the predictions of a return of El Niño conditions in the Pacific could presage a weaker monsoon in India, resulting in lower output and higher prices. This will act as a dampener for Auto sales. 

While the month of March looks good for Auto Sales, on a medium-term outlook, FADA remains cautious till the time a better monsoon forecast is not announced by IMD.  

Key Findings from our Online Members Survey 

Inventory at the end of February’23 

Average inventory for Passenger Vehicles ranges from 35 – 37 days 

Average inventory for Two – Wheelers ranges from 20 – 25 days 

Liquidity 

Good                 35.59% 

Neutral              46.33% 

Bad                      18.08% 

Sentiment 

Good                 35.59% 

Neutral               45.20% 

Bad                      19.21% 

Home Credit’s How India Borrows Study Shows Women In India Are Fast Embracing Technology & Innovation For Credit Needs

* The study shows that in 2022, 49% of women borrowers prefer online loan journey through mobile apps, whereas, in 2021, it was a preference for 34% women 

* Additionally, 59% of women have some kind of financial service app on their smart phone, just a few percentage points behind men (64%) 

* More than 55% women are interested in ‘embedded finance’ where e-commerce users can convert purchases directly to EMIs for affordable financing 

* Overall 40% borrowers surveyed are interested to initiate loan application through WhatsApp chat in future and women are neck to neck with men 

This International Women's Day, with the UN theme of ‘DigitALL: Innovation and technology for gender equality,’ Home Credit India, a local arm of the leading global consumer finance provider, reaffirms its commitment to promoting financial inclusion and gender equality through responsible and digital-led finance ensuring access to affordable credit. In sync with the UN Women theme, Home Credit’s annual How India Borrows (HIB) study, released in December 2022, has shown that with changing times, women in India, particularly from Metros, Tier 1 & 2 cities are fast embracing technology and digital evolution of consumer finance. 

In India, women have traditionally faced barriers towards access to financial services, but this seems to be changing in recent years. The HIB study shows in 2022, 49% of female borrowers prefer to complete loan process though online journey via mobile apps, highlighting a strong preference for convenience and accessibility. In 2021, the preference for digital loans was by 34% females. Additionally, 59% of female borrowers have some kind of financial app on their smart phone, a few points lesser than men (64%) and have also shown preference for mobile banking (52%) over internet banking (41%). 

Another major positive in the growing embrace towards digitalisation of financial services, is the study revealing that more than 55% women borrowers are interested in 'embedded finance,' so they can convert their online shopping bills to EMIs for affordable financing. This is coupled with other findings such as 38% female borrowers versus 41% males have shown interest in initiating loan application through WhatsApp chat in future and 24% women have shown trust & familiarity with chatbots, up from 18% in 2021, while only 6% showed distrust to the medium. 

Overall, nearly two-third or 66% of female borrowers are optimistic about digital lending services owing to rising popularity of online loans, convenience experienced, and faster adoption of digital lending. 

Speaking on the findings, Mr. Ashish Tiwari, Chief Marketing Officer, Home Credit India, said, “As a responsible consumer lender, Home Credit has always believed in the power of technology and digital innovation to foster financial inclusion and accessibility to all. The How India Borrows study shows the beginning of the shift in narrowing gap in the digital divide in gender equality when it comes to financial freedom and access to financial services for women. As digital lending fastens accessibility & convenience and female borrowers across cities are embracing digital transformation well, we at HCIN are committed 

to providing seamless and user-friendly lending experiences in addressing the unmet credit needs of our customers by combining the convenience of varied financing options such as EMI Cards with transparency and accessibility.” 

As a responsible consumer lender, financial literacy is one of the main ESG pillars for Home Credit India and are working on it by promoting financial and digital literacy to drive a responsible borrowing culture in the wider society. As part of our financial literacy initiatives, we have engaged with over 3 million people through our Paise Ki Paathshala microsite, blogs and social media campaigns. Along with it, Home Credit had started a financial literacy CSR initiative – Saksham in 2022, to impart basic personal finance skills in partnership with a national NGO – Indian Development Foundation, targeting 30,000 marginalised women & girls pan-India. 

Home Credit India is committed to leveraging technology to create a more inclusive financial ecosystem that empowers women and promotes gender equality. Through continued focus on innovation and technology, Home Credit India aims to be an enabler of fulfilling consumer aspirations and helping them lead a life of financial independence. 

MathMagic Show By Prof Dr. Arthur T. Benjamin Organised At MIT Draws Large Crowds

On March 3rd, 2023, MIT Ab1 Quadrangle hosted the much-awaited MathMagic Show that drew in about 1000 students from 30 schools in and around Manipal, along with 500 students from various MAHE units. The one-hour show was a spectacular success, leaving the audience awestruck with its intriguing magic tricks and mathematical feat which was hosted by Dr. Arthur T. Benjamin.

The MathMagic Show, which was designed to showcase the beauty of mathematics in a fun and interactive way, was a unique experience for students of all ages. The show featured several performances by renowned mathemagicians, who blended mathematics and magic to create a fascinating show that kept the audience engaged from start to finish.

Speaking about the show Lt Gen (Dr) MD Venkatesh, Vice-Chancellor of MAHE said, "We are thrilled to host Dr. Arthur T. Benjamin's Mathemagics show at MAHE. As an institution of higher learning, we recognise the importance of promoting STEM education and inspiring students to pursue careers in these fields. Dr. Benjamin's show is an innovative way to engage young minds and spark their interest in mathematics."

Dr. Arthur T. Benjamin, Professor of Mathematics at Harvey Mudd College said, "Mathematics is not just about numbers, equations, and formulas; it is also about creativity, logic, and problem-solving. That's what I hope to convey through my Mathemagics show. I want to show people that math can be fun and magical, and that everyone has the potential to be a mathmagician. My message to young people is that don't be afraid of math. Embrace it, engage with it, and use it to explore the world around you. Whether you want to be an engineer, a scientist, an entrepreneur, or anything else, math will be a powerful ally in your journey. So don't let math intimidate you – let it inspire you to greatness."

The show was not only entertaining but also educational, as it helped students appreciate the beauty of mathematics and understand its practical applications. The MathMagic Show aimed to inspire students to pursue mathematics and other STEM fields and to promote an interest in these fields among the youth.

The event was a collaborative effort between MIT Ab1 and several local schools and MAHE units. The success of the MathMagic Show is a testament to the power of collaboration and the importance of promoting mathematics and STEM education in the community.

Ambuja Cements’ Promoted Farmer Producer Company And Self-Help Group Felicitated With ‘Best FPO And Best SHG Award’ By NABARD

·         Ambuja promoted Farmer Producer Organization (FPO) from Bhatinda was awarded the ‘Best FPO’ and Guru Tegh Bahadur Self-Help Group (SHG) was awarded the ‘Best SHG’ by NABARD

·         Projects supported by NABARD include agro & skill-based livelihood, women empowerment, water resource management and education

Ambuja Cements, the cement and building material company of Adani Cement and part of Adani Group, recognised for its community development projects. The Company promoted Farmer Producer Organization (FPO) from Bhatinda, Punjab was felicitated with the ‘Best FPO Award’ and Guru Tegh Bahadur Self-Help Group (SHG) was felicitated with the ‘Best SHG Award’ by NABARD during the State Credit Seminar 2023-24 held in Chandigarh.

Through the Company’s CSR interventions, the farmers are encouraged to form FPOs and market their produce collectively which helps them to avoid intermediaries and earn more profit. The Company extensively invests in training farmers on the latest technologies, environment-friendly methods and providing farming equipment & machines. The success of these initiatives has helped many FPOs to operate as registered businesses to market their products.

Furthermore, the Company encourages women to join Self-Help Groups (SHG) enabling them to support themselves and their families. The Guru Tegh Bahadur SHG is crafting and selling traditional handicrafts in local markets and exhibitions. The Company also offers training in business plans, regular recovery and record keeping to supports groups willing to start their own business.

Mr. Ajay Kapur, CEO, Cement Business, said, “It is a moment of pride to witness the growth of our community initiatives and such recognitions encourage us to form people's institutions for the development and prosperity of the community. The SHGs and FPOs enable people to be responsible and self-determining and cater to our goal of society's progress.”

The Company believes in forming people's institutions and has enabled Women Federations, Water Users Associations, Village Health Functionaries, Watershed Development Committees and School Management Committees. Projects supported by NABARD include agro & skill-based livelihood, women empowerment, water resource management and education.

SAP Labs India Hosts Bengaluru Edition Of Its SAP Insider Track Event With 1000 Participants

* Some of SAP’s key customers in across sectors like aerospace, manufacturing, banking and IT were present at the event

SAP Labs India today hosted the Bengaluru edition of the SAP Inside Track (SIT) – a local grassroots community event where SAP Community members come together to share knowledge about SAP related topics. With participation from nearly 1000 community members the event witnessed a huge turnout of customers, partners and freelancers. Some of SAP’s key customers in across sectors like aerospace, manufacturing, banking and IT were present at the event. 

The event was kickstarted with a keynote session by Sindhu Gangadharan, MD and SVP, SAP Labs India, who emphasized on the power of community. This was followed by the launch of SAP Community OpenSource Project to focus on a wide range of areas like Product, People, Purpose, and Planet. 

Speaking at the event, Sindhu said, “SAP Inside Track (SIT) is a community event, driven by the people and for the people. The Bengaluru edition of SIT held at SAP Labs India has been the world's largest SIT community event with over 1,000 SAP enthusiasts, technologists, product experts, as well as end users gathered under the same roof. It is a brilliant opportunity to learn, network and tap into new opportunities - which is exactly the power of the community and the ecosystem. We’re excited to take SIT to other locations like Gurgaon, Pune, Hyderabad and Mumbai in the coming days.”  

The SAP Inside Track Bengaluru edition featured 8 tracks with multiple sessions conducted by subject experts and industry veteran, offering their insights on the latest advancements under the SAP product portfolio. This included SAP Business Technology Platform (BTP), SAP S/4HANA, SAP SuccessFactors, SAP Build, and SAP Concur, to name a few. 

The event also had best practice sessions on Security, Integration, Hybrid Landscape Management, cloud application Development, extending SAP Cloud Solutions among other. One of the key highlights of the SAP Insider Track was App Space – expert-led hands-on sessions on core SAP BTP concepts. Participants in the App Space build 133 SAP based applications. 

The Bengaluru edition will be followed by SAP Insider Track events in SAP Labs’ different locations across India at Hyderabad, Pune and Gurgaon. 

About SAP 

SAP’s strategy is to help every business run as a sustainable intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 87% of the world’s total global commerce touches an SAP® system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into sustainable intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives.

For more information, visit www.sap.com