ICICI Bank Introduces Auto Recharge On FASTag Through UPI Mandate

·         First bank in the industry to offer this facility

·         It allows users to set up the standing instructions for auto recharge on UPI

·         It eliminates the inconvenience caused due to insufficient funds in FASTag

ICICI Bank today announced that it has enabled FASTag auto recharge through Unified Payments Interface (UPI) mandate. The facility offers yet another option to users to recharge their FASTag automatically as per pre-defined frequency in a completely digital manner. It helps users to pass through the FASTag lane at toll plazas seamlessly and eliminates the inconvenience of not having sufficient funds in their accounts.

Users can set up the standing instructions through UPI mandate by a one-time quick and easy process. They can use the facility to recharge FASTag affixed on the vehicle or the FASTag wallet with their chosen frequency options- daily, weekly, monthly, and quarterly. They can activate and deactivate the auto recharge facility as per their convenience.

Speaking on the initiative, Mr. Sudipta Roy, Head – Credit Cards, Payment Solutions & Merchant Ecosystem, ICICI Bank said “We are delighted to introduce auto recharge facility through UPI mandate for FASTag. ICICI Bank is the first bank to offer this facility. With the government’s initiative to install FASTag in vehicles for toll fees and increased adoption of UPI payments, we believe the auto recharge facility using UPI mandate will offer more convenience to users.”

Users can set-up the UPI mandate and recharge the FASTag automatically with a few simple steps:

·         Login to ICICI Bank FASTag customer portal

https://fastaglogin.icicibank.com/CUSTLOGIN/Default.aspx

·         Select ‘Payments’ > Standing Instructions for UPI’ from the top menu

·         Enter details like ‘Payment Frequency’, ‘Virtual Payment Address (VPA)’, ‘Top -up Amount' and ‘Start Date’ to set ‘Standing Instructions through UPI’

·         Go to UPI Mandate section in mobile banking app to accept the authorisation request

·         Accept the pre-debit notification sent from the mobile banking app 24 hours prior to the amount deduction

·         UPI Mandate will be triggered and the amount will be deducted from the customer’s account with any bank on the scheduled date

Customers of ICICI Bank can avail FASTag using the Bank's digital channels such as internet banking, iMobile Pay app, InstaBIZ app, Pockets app or by visiting the nearest branch. Customers of other banks can also purchase the FASTag from ICICI Bank by visiting the bank’s website (www.icicibank.com/fastag), ICICI Bank FASTag sales office at the toll plazas. Users can reload money on FASTag online using UPI and NEFT platforms.

For news and updates, visit www.icicibank.com and follow us on Twitter at www.twitter.com/ICICIBank

For media queries, write to corporate.communications@icicibank.com

Wakefit.co Announces Bollywood star Ayushmann Khurrana As Its New Brand Ambassador

* In true Wakefit style, the collaboration was unveiled in the form of an off-beat pre-buzz campaign that sparked conversations among netizens

Did anyone catch a glimpse of Ayushmann Khurrana peacefully enjoying his forty winks and lost in his beautiful dreamland? Recently, a viral video of the actor was doing the rounds online, featuring the talented actor enjoying his power nap, and refueling his energy meter on a set. As netizens got talking about this intriguing clip, Wakefit.co, one of India’s largest D2C home and sleep solutions brands, unveiled Ayushmann Khurrana as its new brand ambassador in its usual quirky and fun tonality. 

Known for its off-beat and engaging marketing communication, Wakefit.co has roped in Bollywood’s Mr. Original to create resonance with the progressive yet practical Indian citizen. Besides being the face of the brand and spearheading upcoming campaigns, Ayushmann will also help the brand in creating awareness and education about sleep health and its importance in the modern context. In an interesting twist preceding the announcement, the brand’s name was kept under wraps in the behind-the-scenes (BTS) clip to evoke curiosity. This created the perfect backdrop to reveal the association. The reveal was done in a monologue-style format, with Ayushmann appealing to people to give due importance to sleep. 

In his classic style, Ayushmann delivers a sharp commentary titled ‘Sleep India Sleep’ on the pressing problem of sleep deprivation in India. With his dynamism and youthful energy, the actor can be seen urging the audience to prioritise their sleep health and take a pledge to sleep better. This video forms 

the initiation of the brand’s partnership with Ayushmann and is in tandem with its marketing philosophy which aims to create meaningful conversations about improving the quality of sleep and home among Indians. 

Commenting on the association, Ayushmann Khurrana shared, “Wakefit.co's philosophy of creating meaningful and authentic conversations with its audience around home and sleep health is something that I wholeheartedly believe in. I'm excited to join forces with a brand that values innovation and practicality as much as I do. This partnership will be an excellent opportunity to connect with diverse audience groups and help make a positive impact on their lives.”

Speaking on the occasion, Chaitanya Ramalingegowda Director and Co-Founder, Wakefit.co said, “We are delighted to have Ayushmann as our official brand ambassador, as we believe this will allow us to strengthen our brand identity across multiple regions in the country. The Wakefit consumer persona is that of someone who is progressive yet practical in their lifestyle and their purchase decisions. Ayushmann fits that persona perfectly, which makes him the ideal choice as the face of our brand. Wakefit.co shares many core values with Ayushmann, whether it is in being innovative with our choices, being truly original and authentic or appealing to a wide demographic and geographic audience base”

The association with Ayushmann aims to sharpen the company’s brand identity even further and build its affinity across the country. The brand recently received its Series D funding in January 2023 and now aims to strengthen its brand-building efforts, expand omni-channel presence and category presence. and scale supply chain operations. In 2022, the company also announced its offline retail expansion and has launched 22 physical stores across the country with plans to open up more than 100 stores by end of FY24.

About Wakefit.co

Wakefit.co is a research and innovation-driven sleep and home solutions company established in March 2016. It was founded by Ankit Garg and Chaitanya Ramalingegowda, with a vision to become India’s most loved home and sleep solutions brand. With a portfolio that previously included mattresses, pillows, bed frames, mattress protectors, comforters, neck pillows, and back cushions, Wakefit.co has now expanded to include home products such as sofas, dining sets, wardrobes, study tables, bookshelves, shoe racks, TV units, bedside tables, coffee tables, cushions, floor rugs, curtains, towels, and more. The company manufactures its products in-house at factories in Bengaluru, Jodhpur, and Delhi. It sells across the country through its own online portal, offline retail stores and through other popular online marketplaces. Wakefit.co prides itself on its customer experience, with over 2 million customers serviced over 7+ years. The company has raised 4 rounds of funding (Series A through D) from marquee investors such as Sequoia Capital India, Verlinvest, SIG and Investcorp. 

26% Still Prefer To Park Their Funds In Savings Account (SA) As Per Axis My India May CSI Survey

·         10,206 people surveyed; 64% are from rural India while 36% are from urban India

·         8% is looking to invest in FD & RD & 7% in Gold

·         17% is willing to pay 10% or more for environmentally friendly and sustainable products

·         11% will plan to buy a 2-wheeler EV and 6% a 4-wheeler EV in the next few years

·         6% have heard about ChatGPT, out of which 81% believe it is more of a boon than bane

·         Overall household spending up for 56%, highest from West Bengal

Axis My India, a leading consumer data intelligence company, released its latest findings of the India Consumer Sentiment Index (CSI), a monthly analysis of consumer perception on a wide range of issues. The May report reveals insights on consumer investment plans for the new financial year, perceptions on education infrastructure in India, and their interaction with new AI tools like ChatGPT. The survey found that a significant proportion of consumers plan to park their funds in savings accounts, while a smaller percentage plans to invest in their own business or in health and life insurance. The survey also shed light on the education infrastructure in India, and the willingness of parents to send their children to Government schools if infrastructure improves. Finally, the survey examined consumer interaction with new AI tools such as ChatGPT, revealing insights into perceptions of the tool's efficiency and impact on job security and data reliability.

The May net CSI score, calculated by percentage increase minus percentage decrease in sentiment, is at +09, which has increased by 1 point compared to last month.

The sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, entertainment & tourism trends.

The survey was carried out via Computer-Aided Telephonic Interviews with a sample size of 10,206 people across 35 states and UTs. 64% belonged to rural India, while 36% belonged to urban counterparts. In terms of regional spread, 26% belong to the Northern parts while 25% belong to the Eastern parts of India. Moreover, 29% and 19% belonged to Western and Southern parts of India respectively. 64% of the respondents were male, while 36% were female. In terms of the two majority sample groups, 32% reflect the age group 36YO to 50YO and 29% reflect the age group of 26YO to 35YO.

Commenting on the CSI report, Pradeep Gupta, Chairman & MD, Axis My India, said "The survey reveals that for a significant population savings account is still the preferred medium to park their funds. Additionally, there is an obvious contrast in education infrastructure preferences between urban and rural areas, with overall a positive attitude towards government schools if they provide superior facilities and quality education. Finally, our report highlights the increasing importance of AI tools like ChatGPT in the workplace, with a majority of young adults viewing it as an advantage to their work. These insights provide valuable information for businesses, policymakers, and educators to better understand and meet the evolving needs of consumers."

On topics of current national interest

·         This month Axis My India’s CSI survey delved deeper to understand consumer investment plans for the new financial year. The survey revealed that a majority of 26% plans to park their funds in savings account while 20% plans to invest in their own business. Moreover, 16% wants to invest in Health insurance / Life Insurance while 13% wants to invest in real estate. 8% is looking to invest in FD & RD (Fixed Deposits and Recurring Deposits) and 7% in Gold. While the majority of the female (33%) have favoured Savings Account, a majority of males have chosen to invest in Business.

·         In an attempt to understand conscious purchase behaviour, the survey found out that 18% is willing to pay more than usual but less than 10% for environmentally friendly and sustainable products. While 11% is willing to pay 10-20% more only 6% can pay 20% more.  This showcase a clear rise in the preference of conscious products driven by a sense of responsibility to make ethical and responsible choices. The findings also revealed that this behaviour resonates the most with 18-25YO, among men and those whose family monthly income is INR 31000 & above

·         Moreover, when asked on EV vehicle preferences, 11% said that they plan to buy a 2-wheeler and 6% said that they plan to buy a 4-wheeler. Among those surveyed majority of the urban dwellers (12%) display preference for two Wheeler EVs. Various government schemes coupled with lower operating and maintenance cost has pushed consumers towards adopting Electric Vehicle in India

·         The survey also threw light on the excitement around the sixteenth season of the Indian Premier League (IPL). It unveiled that 55% will watch the matches on their cable/DTH Television sets of which 61% are from urban counter cities. Moreover, 45% is expected to watch on mobile (Jio Cinema) of which 48% are from rural towns. While Mobile (Jio Cinema) is the preferred mode of watching for 18-25YO, (64%), cable/DTH Television sets are favoured by 36-50YO, (66%).

·         The survey also attempted to understand effectiveness of advertisement during IPL through consumer brand recall. Upon asking which brand ads have the IPL viewers noticed the most (Top of the Mind), the top brands mentioned were Dream 11, Thums Up, Tata Neu, Jio, PayTM, Amazon, LIC, Tata Tiago ev, Kamala Pasand, Kingfisher, TVS, Ceat, Rupay. However, Dream11 secured the maximum eyeballs (39%), followed by Thums Up (10%), Tata Neu (8%) and Jio (7%). Dream11, Tata Neu and Jio were recalled the most by male viewers.

·         The survey further deep dived to understand consumer’s perception on the education infrastructure in India. Of those surveyed, 51% said that their children go to Government schools and 57% said theirs go to Private schools. 56% of rural India are going to Government schools and 57% of urban India are going to Private schools. Only 1% said their children go to International schools. Additionally, 82% of those whose children go to Private or International schools are positive about sending their children to Government schools if it assures superior facilities and quality education.

·         Finally, the survey wanted to gauge consumer’s interaction with new AI tools like ChatGPT and their perception on its efficiency.  Of those surveyed (NCCS AB, Graduates & above) 6% have heard about ChatGPT. Importantly, 81% of those that have heard view the AI tool as an advantage to their work while a combined 24% views it as an obstacle to job security and data reliability. A majority of those who have heard about the AI tool and views it as an advantage belongs to the age group of 18-25YO.

Key findings

·         Overall household spending has increased for 56% of the families, which is the same as last month. The net score, which was +49 last month has decreased to +48 this month. The states, which reflected the highest increase, are West Bengal with 70%, followed by Andhra Pradesh and Telangana with 61%. The age group 26-35 displayed the highest increase (59%).

·         Spends on essentials like personal care & household items has increased for 32% of the families, which reflects a dip by 1% from last month. The net score, which was at +21 last month, remains the same this month. Essential spends has increased more for families with a monthly income of INR 21-30,000 (37%). Karnataka reflects the highest essential spends with 45%.

·         Spends on non-essential & discretionary products like AC, Car, and Refrigerator have increased for 5% of families; this reflects an increase of 1% from last month. The net score, which was at 0 last month, is +1 this month. Discretionary spends has increased more for families with a monthly income of INR 30,000 and above (8%). Rajasthan reflects the highest non-essential spends with 10%.

·         Expenses towards health-related items such as vitamins, tests, healthy food has surged for 31% of the families. This reflects a decrease in consumption by 1% from last month. The health score which has a negative connotation i.e., the lesser the spends on health items the better the sentiments, has a net score value -21 this month. Health related products consumption increased more for female (32%) and among age group of 26-35 (about 33%). 

·         Consumption of media (TV, Internet, Radio etc.) has increased for 21% of the families, which is an increase by 2% from last month. The overall, net score is at 2 this month. Media viewership has increased more among males (22%) and among 18-25 YO which (30%) as compared to older age groups.

·         Mobility has increased for 7% of the families, which is an increase by 1% from last month. The overall mobility net indicator score, which was at -1 last month, is at +1 this month. 11% of the youngsters from the age group of 18-25, has gone out more in the last month as compared to other age groups.

Flex Films To Showcase A Wide Range Of Technologically Advanced Packaging Films At Interpack, Dusseldorf, Germany

* interpack is a premier trade show for the global packaging industry where companies present innovations along the entire value chain

Flex Films, the global manufacturing arm of India’s largest flexible packaging materials and solutions company – UFlex Limited, is participating in the premier global packaging and processing industry tradeshow — interpack 2023, scheduled to be held in Dusseldorf, Germany, from May 4 to 10, 2023.

Flex Films will be present at D44 in Hall number 10 and will be exhibiting its wide range of BOPET, CPP, BOPP, Specialty, and Green Films, along with a miniature working model of a Multi-Layer Plastics (MLP) recycling plant and a video screening of a recycled polyethylene terephthalate (rPET) plant in action. Both these recycling plants are engineering marvels that have successfully demonstrated the company’s technical expertise in recycling multi-layer plastic and PCR waste over the last three decades. In addition, the company will display a wide array of injection molded products made from MLP recycled waste.

The company will exhibit rPET films made from recycled PET resin with printed widths of 210 cm. A specialty product from Flex Films at interpack 2023 will include BOPE opaque films, known for their durability and cost-effectiveness. Visitors will be free to cut out an A4 sample from these BOPE rolls to experience its quality and durability.

Other films on display include BOPET films with high tensile strength, durability, and heat-resistance properties, which also have good gas-barrier features. In addition, BOPP films with high gloss and excellent clarity will also be exhibited including UBB-M (ultra-high barrier), UHB-M (EVOH Met with High OD), B-UTX UTX (ultra-high barrier Alox BOPP film, both sides treated), B-TUH-M MET with high seal strength (1.5 kgs), High Barrier MET BOPP with Low SIT and TAF (SIT 12 anti-fog).

Flex Films has recently been conferred the 2023 Silver Award in the Technical Innovation category by the Flexible Packaging Association (FPA), USA, for developing Ultra High Barrier and High Metal Bond Metallized Polyester Films. Over the years, Flex Films has bagged several national and international certifications for its technological innovations and environmental sustainability. From BOPET films to BOPP films to CPP films to metalized and Alox-coated films, Flex Films is a forerunner in technical innovation and operational capabilities.

About Flex Films:

Flex Films is the global film manufacturing arm of India’s largest multinational flexible packaging solutions company, UFlex Limited. With state-of-the-art film manufacturing facilities at strategic locations across the globe including the USA, Mexico, Poland, Nigeria, Egypt, UAE, Russia, Hungary, and India, its cumulative production capacity stands at more than half a million TPA.

Flex Films manufactures and supplies a wide range of packaging films all over the world including Polyester (BOPET), BOPP, CPP, Metallized, Alox Coated, Holography, and other high-performance specialty films and green films (PCR grade Asclepius and Mono-material films). For more details, visit: https://www.flexfilm.com/

Niranjan Gupta Took Charge As CEO Of Hero MotoCorp on May 1, 2023

Expressing his excitement and gratitude to Dr. Munjal, Niranjan Gupta said, "Truly humbled to be trusted with the responsibility to nurture and move forward the great legacy that has been built by Dr. Munjal and Chairman Emeritus!"

Congratulating Niranjan, Dr. Munjal handed over a handwritten personal note to him saying, “I have and will always have your back! Wishing you success and the very best as you ride into this new era.”

Honda Announces Name Of Its Upcoming All New SUV As “Honda Elevate”

Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India announced that its upcoming All New SUV will be named as “Honda Elevate”. Developed as a global model, the All New Elevate is Honda’s brand new mid-size SUV which will have its World Premiere in India next month. 

The All New Elevate represents Honda’s pursuit to introduce a perfect urban SUV appealing to the elevated taste for finer things in life. It symbolizes the aspiration to achieve success and wanting to keep elevating to the next level.  

Honda Elevate has been developed as a new global model in Honda’s line-up to cater to the robust demand for SUVs world-wide. The new model incorporates people’s lifestyle requirements and their expectations for Honda’s New SUV. India will be the first market to launch the Honda Elevate.   

About Honda Cars India Ltd. 

Honda Cars India Ltd. (HCIL),a leading manufacturer of premium cars in India,was established in December 1995 with a commitment to provide Honda’spassenger car modelsand technologies, to the Indian customers. HCIL’s corporate office is based in Greater Noida, UP and its state-of- the-art manufacturing facility is located at Tapukara, District. Alwar, Rajasthan. 

Honda’s models are strongly associated with advanced design and technology, apart from their established qualities of durability, reliability, safety and fuel-efficiency catering to diverse needs of its discerning buyers across different segments.  Thecompany has a strong salesand distribution networkspread across the country. 

Besides the new car business, Honda offers one stop solution for buying and selling pre-owned cars through its business function Honda Auto Terrace. The Honda Certified Pre-owned cars come with an assurance of quality and peace of mind that caters to the diverse and burgeoning needs of pre-owned car buyers across the country. 

Meghalaya’s Relentless Long Efforts For Scientific Mining Sees Light

* Potential to generate significant sustainable livelihood opportunities along with revenue to the state exchequer 

* Ensures minimal environmental impact through sustainable and legally compliant extraction procedures 

Meghalaya to witness transformation in mining sector with the previous approval of Central Government for grant of mining lease to 4 applicants.  

In April 2014, National Green Tribunal (NGT) had imposed a blanket ban on coal mining and transportation in the state of Meghalaya. With this ruling, the mining industry suffered a negative growth of (-) 59.36% according to GSDP at constant prices in 2014-15 thereby affecting the GSDP as a whole, to register a negative growth of (-) 2.82%. Contraction of GSDP came as a big blow to Meghalaya’s ambitions of achieving its revenue collection targets. 

Apart from the impact on the economy, the ban severely crippled the lives of thousands of citizens dependent on the mining sector, both directly and indirectly. Many have lost their livelihoods and had to resort to menial jobs, to feed their families.  

Taking cognizance of all this, Hon’ble Chief Minister Conrad K Sangma led MDA government has provided much needed impetus to revive coal mining in the state. These efforts led to the landmark judgement of Hon’ble Supreme Court on 3rd July 2019, upholding the rights of people of Meghalaya over the natural resources. This historic judgement has reposed the citizen’s faith in the Indian Judiciary and reflects the Government of Meghalaya’s commitment to protect the rights, culture, and identity of the indigenous people. The apex court held that private as well as community landowners have both surface rights and sub-surface rights, and minerals are owned by private and community landowners. 

In a significant step towards initiating scientific coal mining, under the leadership of Hon’ble Chief Minister Conrad K Sangma, the State Government has availed the approval of the standard operating procedures for obtaining prospecting license and mining lease for coal in March 2021. Continuing the momentum, Ministry of Coal, Government of India on 25th April 2023, has provided previous approval for mining lease to 4 applicants of the 17 prospecting license applicants.  

The commencement of scientific mining will be landmark in the history of Meghalaya, as it ensures minimal environmental impact through sustainable and legally compliant extraction procedure. As part of Scientific Mining, reclamation of coal mining areas and use of advanced technologies, such as remote sensing, aerial surveys, and 3D modelling, would be prioritised and environmental impact would be mitigated significantly. 

Initiation of scientific mining in the state, is a significant achievement for the Hon’ble Chief Minister Conrad K Sangma led MDA government, who have led a long relentless effort to provide sustainable livelihood opportunities to the citizens and revenue to the state’s exchequer. The income generated from the mining sector, will be invested in the educational and healthcare sector, for the socio-economic prosperity of the state.