Air India Boosts Services To Destinations In 5 East Asian Cities

* Air India & Air India Express now offer 67 weekly flights to 5 East Asian cities

Air India, India’s leading carrier and a Star Alliance member, has added frequency on popular eastbound routes in its 2023 Summer Schedule, bringing more options for travellers to fly to and from Bangkok (Thailand), Hong Kong, and Seoul (South Korea). 

Effective 26th March 2023, Air India will add a total of eight new weekly flights: six to Bangkok (three each from Delhi and Mumbai), as well as additional weekly flights from Delhi to Seoul (Incheon) and Hong Kong. 

All flights will be operated by Boeing 787-8 Dreamliner aircraft, featuring a two-class cabin configuration, comprising 18 Business Class and 236 Economy Class seats. 

With these additions, Air India and Air India Express will collectively offer 67 weekly services to Bangkok, Hong Kong, Seoul, Singapore and Tokyo from Delhi, Mumbai, Chennai, Trichy and Madurai.

Mr Nipun Aggarwal, Chief Commercial and Transformation Officer, Air India, said, “Building a more robust network is a key element of Air India’s Vihaan.AI 5-year transformation plan, and having boosted services on multiple routes to North America and Europe in quick succession, we are now pleased to step up services to the East. We recognise the importance of providing our customers with convenient and reliable travel options, and this increase in frequency demonstrates our commitment to meeting those needs.”

Air India’s route network also includes non-stop flights from Delhi to Sydney and Melbourne in Australia. The increase in flights to these East Asian destinations will further strengthen Air India’s foothold in the East as well as globally, especially after the recently resumed non-stop flights to Vienna (Austria), Milan (Italy), and Copenhagen (Denmark). 

Passengers can now conveniently and comfortably fly to these destinations that are a popular choice not only for tourism but also as hubs of business, trade, and education. With Air India's renewed focus and vigour on expanding its international network, the airline is well positioned to capture a larger share of the global aviation market. 

The newly added Air India flights are now available for booking on the Air India website, mobile apps, as well as through travel agents and other booking channels. 

About Air India:

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South-East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a Government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart.

Vihaan.AI is Air India’s transformational roadmap over five years with clear milestones.  It will be focussing on dramatically growing both its network and fleet, developing a completely revamped customer proposition, improving reliability and on-time performance. The airline will also be taking a leadership position in technology, sustainability, and innovation, while aggressively investing in the best industry talent. Vihaan.AI is aimed at putting Air India on a path to sustained growth, profitability and market leadership.

About the Tata Group:

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.

Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, and art and culture. In 2020-21, the revenue of Tata companies, taken together, was $103 billion (INR 7.7 trillion). These companies collectively employ over 800,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of $314 billion (INR 23.4 trillion) as on December 31, 2021. Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Communications, Indian Hotels, Tata Digital and Tata Electronics.

Tata Power Renewable Energy Limited Signs PPA For 510MW Hybrid Project With Tata Power Delhi Distribution

* It is one of the largest hybrid projects in the country with the capacity bifurcation of 170 MW solar & 340 MW wind power

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power and one of the major renewable energy players in the country, signed a Power Purchase Agreement (PPA) with Tata Power Delhi Distribution Limited (Tata Power-DDL), for 510MW hybrid project.

The project will save on an average of 1540 MUs of CO2 emissions annually for Tata Power-DDL, a joint venture between Tata Power and Govt. of Delhi, that supplies electricity to a populace of over 7 million in North Delhi.

The PPA has the capacity bifurcation of 170 MW solar and 340 MW wind power. Located in Karnataka, it is one of the largest hybrid projects in the country and will be commissioned within 24 months from the PPA execution date.

Speaking on the signing, Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, “Tata Power Renewable has signed one of the largest PPAs in the country for a 510MW hybrid project, via competitive bidding, showcasing our future readiness and expertise in project execution skills. This partnership is significant in our quest to continue our journey as one of the torchbearers of the green and clean energy transition."

TPREL won this project through a competitive bidding process, followed by the release of LOA by Tata Power-DDL. This win is an extension of the earlier LOA of 255MW received in Dec. 2022

Mr. Ganesh Srinivasan, CEO, Tata Power Delhi Distribution Limited, added, “Aligned with the nation’s renewable energy mission, we are pleased to join hands with Tata Power Renewable Energy Limited for our biggest hybrid energy tie-up. We are confident that this association will strengthen our commitment towards significantly enhancing the portion of sustainable energy in the overall supply mix."

With this win, the total renewables capacity of TPREL reaches 6,303MW with an installed capacity of 3,909 MW (Solar - 2,981 MW & Wind - 928 MW) and 2,394MW under various stages of implementation. 

SIDBI – SIDBI Celebrates International Women’s Day With Women Entrepreneurs of SKDRDP At Shri Kshetra, Dharamsthala

Reaffirming its commitment towards women empowerment, SIDBI celebrated the International Women’s Day with the women entrepreneurs assisted under its PRAYAAS initiative through its partnership with SKDRDP at Shri Kshetra, Dharamsthala. On the occasion, Shri Sivasubramanian Ramann, Chairman & Managing Director, SIDBI, formally released a book “Amrutha Jeevana Prayaas Sinchana” in the presence of Dr. Veerendra Heggade, Dharmadhikari, SKDRDP, Smt Hemavathi Heggade, President, Jnanavikasa Program, Dharmasthala, Shri Ravi Tyagi, CGM, SIDBI andDr. L. H. Manjunath, Executive Director, SKDRDP.

CMD Shri S. Ramann, during his inaugural address mentioned “SIDBI’s mission through PRAYAAS is to connect the micro segment entrepreneurs digitally and serve the ‘missing middle’ segment by making available affordable credit. The program has a focus on women who we believe are the key pillars in the development of economy and in instilling entrepreneurship in the future generations.  Under PRAYAAS, SIDBI looks for development centric partnerships in unserved and under-served segments for fostering the spirit of self-reliance and augmenting enterprise promotion.

I salute the beneficiaries featured in the book who are the true representatives of grit, determination, and embodiment of independence of entrepreneurship.  I am sure that their success will inspire many more women to dream and set up more ambitious ventures.”   

Earlier during the day, Shri S. Ramann handed over sanction letter of Rs.1000 crore to Dr. L. H. Manjunath, Executive Director, SKDRDP, under SIDBI’s PRAYAAS Scheme for Direct Credit to Micro Enterprises under partnership arrangements. The PRAYAAS Scheme has been formulated to help microfinance clients who look forward to upscale / diversify their business and need assistance in the range of `50,000 to `5 lakh, commonly known as “Missing Middle Segment”. The scheme aims to significantly improve access to finance as well as reduce interest rate to aspiring borrowers and help in enterprise promotion.

About SKDRDP:

Shri Kshethra Dharmasthala Rural Development Project, popularly known as SKDRDP, is a charitable trust promoted by Dr. Veerendra Heggade. SKDRDP concentrates on the empowerment of people by organizing Self-help Groups (SHGs) on the lines of Joint Liability Groups (JLGs) and provides infrastructure and finance through micro credit for the rural people. SKDRDP works as Banking Business Correspondent and Business Facilitator (BC and BF) in all the areas of its operation.

About SIDBI:

Small Industries Development Bank of India (SIDBI) as the Principal Development Finance Institution for MSME sector has played a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilateral institutions like   World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth, and competitiveness in long run during prevailing climate related challenges.

Bank of Baroda Slashes Home Loan Interest Rates By 40bps To 8.50%

* Reduces MSME loan interest rates to 8.40%  

- Year-end limited period offer valid up to 31st March 2023 –  

- 100% waiver on processing charges on home loans; 50% waiver on processing charges on MSME loans - 

Bank of Baroda (Bank), one of India’s leading public sector banks announced the reduction in its home loan interest rates by 40 basis points (bps) to 8.50%* p.a. Further, the Bank has also reduced its MSME loan interest rates starting at 8.40%* p.a. Both offers are valid for a limited period till 31st March 2023. This is one of the lowest and most competitive interest rates in the industry.  

In addition to reducing its interest rates, the Bank is also offering 100% waiver on processing charges on home loans and 50% processing charges waiver on MSME loans.  

The new home loan rate beginning at 8.50%* p.a. is available for borrowers applying for fresh home loans, balance transfers as well as for home improvement loans. The rate is linked to a borrower’s credit score. 

Shri Ajay K Khurana, Executive Director, Bank of Baroda said, “The Bank is pleased to drop its home loan interest rates and introduce a very special limited period offer of 8.50%. The offer will make home purchases more affordable for home buyers in the current scenario where interest rates have risen considerably. The reduction in interest rates for the MSME sector will further support aspiring entrepreneurs and finance their growth ambitions.” 

Bank of Baroda has also simplified the process of applying for a Home Loan. Customers can digitally apply for and get approval for a home loan within 30-minutes* by logging in to the bob World mobile banking app or visiting the Bank’s website. Applicants can also apply for a loan by visiting any of Bank of Baroda’s branches across India. 

Key features of Bank of Baroda Home Loans 

Interest rates starting at 8.50%* p.a. for a limited period 

Zero processing charges 

Takeover of home loans with minimum documentation 

Flexible tenure up to 360 months 

No Pre-payment/Part-payment charges 

Avail Digital Home Loans with quick approval in just a few steps in just 30-minutes 

Door step service at major centres 

IndianOil, Kotak Launch Co-Branded Fuel Credit Card Across India

Kotak Mahindra Bank Limited (“KMBL”/Kotak) and IndianOil today launched a highly rewarding, co-branded fuel credit card. The IndianOil Kotak Credit Card is available on the RuPay network.

IndianOil is the largest oil marketing company, with a network of over 34,000 fuel stations in the country. IndianOil Kotak Credit Card customers can earn reward points on refueling at any of the IndianOil fuel station in the country. These reward points can be redeemed to get free fuel at IndianOil fuel stations.

At an event organized in the city, the card was launched by Mr. Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank Ltd; Mr. Frederick Dsouza, Business Head – Credit Cards, Kotak Mahindra Bank Ltd; Mr. Vigyan Kumar, Executive Director (Retail Sales- North & East), IndianOil and Ms. Praveena Rai, Chief Operating Officer, National Payments Corporation of India.

Key features of IndianOil Kotak Credit Card:

Earn 4% back as reward points on refueling at IndianOil fuel stations – up to Rs 300 per month

Earn 2% back as rewards points on dining, grocery and other payments – up to Rs 200 per month

Earn 1% fuel surcharge waiver – up to Rs 100 per month

Interest – free credit period up to 48 days

Smart-EMI

Zero lost card liability

Contactless card - Tap and pay

“We are very excited to have a fuel proposition in our product offering. The product has been designed to encourage customers to put all their purchases on this card. The strong brand and distribution network of IndianOil is a great strength of this partnership. The Rupay platform will help us extend innovative payment solutions to customers and drive wider adoption of digital payments,” says Mr Frederick Dsouza, Business Head – Credit Cards, Kotak Mahindra Bank Ltd.

Speaking about the collaboration, Mr. Vigyan Kumar, Executive Director (Retail Sales- North & East), IndianOil, said, “IndianOil is committed to a Digital India, as envisioned by our Hon’ble Prime Minister and with this partnership, IndianOil is taking yet another concrete step towards ensuring digital interactions at all our fuel stations. Bettering our customer value propositions and experiences has always been a priority for us at IndianOil, and I am confident that this collaboration with Kotak Mahindra is a perfect addition to our bouquet of seamless and enhanced offerings to our customers. I am also happy to share that the IndianOil Kotak Credit Card will be exclusively launched on RuPay platform, strengthening the AatmaNirbhar Bharat vision of the Government of India.”

“NPCI is always committed to deliver customer-first experiences. For us, innovation and technology are the key instruments to drive towards a better and greater consumer experience and we are constantly working towards bringing in simplified and best-in-class offerings for our customers. The IndianOil Kotak RuPay Credit Card will give the cardholders a host of privileges on fuel, grocery and dining spends, creating a seamless payment experience with RuPay Contactless technology,” says Mr. Rajeeth Pillai, Chief – Relationship Management and Marketing, National Payments Corporation of India.

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 license 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, please visit the company’s website at https://www.kotak.com/.

About Indian Oil Corporation Limited

IndianOil is a diversified, integrated energy major with presence in almost all the streams of oil, gas, petrochemicals, and alternative energy sources. With a net profit of Rs. 24,184 crores for the fiscal 2021-22, IndianOil is one the largest and most trusted corporates in the country, touching the lives of over a billion Indians.  With a 33,500-plus workforce, extensive refining, distribution & marketing infrastructure, and advanced R&D facilities, IndianOil has provided energy access to millions of people across the length and breadth of the country through its ever-expanding network of customer touchpoints, currently numbering over 50,000.

Visit www.iocl.com to know more.

About National Payments Corporation of India

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay.

NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

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

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

February’23 Retails 

Commenting on how February’23 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “The month of February has continued the good start Karnataka has had to the calendar year 2023 for Auto retail. All the categories have seen a strong growth with 2 W at 16%, PV at 21% , 3W at 115% , CV at 31% and tractors are 13%. With the recent push to investments in Infra by the GoI, We are hoping that the momentum will continue for the rest of the year.”  

HCLTech Receives Top Global Recognitions For Its “ESG Performance”

* MSCI Rates HCLTech As ESG ‘Leader’ In The Software And Services Industry 

HCLTech, a leading global technology company, announced it has been recognized by globally-renowned research and ratings agencies for its strong environmental, social and governance (ESG) performance. These recognitions underscore the significant progress made by HCLTech in implementing its corporate sustainability vision.   

MSCI has rated HCLTech as an ESG ‘Leader’ in the software and services industry. The MSCI ESG ratings evaluated 8,500 companies on their exposure to industry-material ESG risks and their ability to manage those risks relative to peers. The ratings range from ‘leader’ (AAA, AA), ‘average’ (A, BBB, BB) to ‘laggard’ (B, CCC). This year, HCLTech has been recognized as a leader with an “AA” rating, a significant move up from last year’s “A” rating.  

The coveted S&P Global Sustainability Yearbook 2023 has recognized HCLTech as an ‘Industry Mover’. The Yearbook lists leading companies that have demonstrated sustainable business practices in their operations. The assessment is based on S&P’s rigorous Corporate Sustainability Assessment framework. For the 2023 edition, over 7,800 companies across 61 industries were analyzed by S&P.  

HCLTech has also been included in Sustainalytics’ 2023 Top-Rated ESG Companies list in the Software and Services Industry segment and in the Asia Pacific Region. HCLTech has been placed in the ‘low-risk’ category by Sustainalytics in an assessment of 15,000+ companies globally based on their ESG performance.  

“Sustainability is at the core of HCLTech’s business strategy and we are committed to supercharging progress for clients, our people, communities and the planet. These recognitions are a strong endorsement of our sustainability agenda and the execution strategy of our teams,” said C Vijayakumar, CEO & Managing Director, HCLTech.  

HCLTech’s sustainability strategy is based on three guiding principles: 

ACT: Act in the most responsible and sustainable manner and ensure every resource is used efficiently to maximize value  

PACT: Work for a sustainable future, in collaboration with our clients, partners, communities, and all stakeholders 

IMPACT: Focus on creating sustainable impact through all initiatives and activities 

HCLTech aims to achieve net-zero emission target by 2040 and a reduction of 50% on absolute scope 1 and 2 emissions by 2030. The company also targets to transition 80% of its electricity through renewable energy by 2030. Last year, the company launched its sustainability school, delivering a learning series on climate change for its 222,000+ employees. 

The company has made demonstrable progress on its sustainability commitments and continues to create and deliver technology-led sustainable solutions to clients and purposefully contribute to the communities to make a positive impact on people and planet.