Kotak Unveils All New Privy League-an Exclusive Premium Banking Programme

* Privy League Programme Aims At ‘Building Exclusivity Via Experiences’

Kotak Mahindra Bank Limited (“KMBL”/”Kotak”) today announced the launch of all new Privy League programme– an exclusive premium banking programme with unique lifestyle privileges & bespoke financial solutions curated for high net-worth individuals.

As the flagship premium banking program of Kotak Mahindra Bank, Privy League has been crafted to celebrate the achievements of their customers by bringing to them unmatched lifestyle experiences and superior banking services.

The new value proposition provides multifaceted offerings to bring priceless experiences to its customers. It comprises privileges across travel with a complimentary MMT Black Elite Annual Membership. Flaunting of unparalleled luxury, it offers Lafayette Luxury Concierge Services which facilitates incomparable experiences ranging from arranging private charters to getting front row seats to international sporting events. It also includes offers on dining with complimentary EazyDiner Prime Annual Membership & attractive discounts on Swiggy.

To top it off, the new Privy League Programme also curates distinguished experiences across health and wellness, culinary experiences, knowledge based sessions, and more.

With the Privy League programme, customers can get tailored portfolio and investment solutions catering to their diverse needs. The skilled specialists employ a meticulous approach to curate an investment portfolio based on the customer’s risk profile and financial goals that could help grow their wealth. Customers get access to a robust 3-in-1 Integrated Account featuring a Bank Account, Demat Account, and Trading Account. They can also enjoy exclusive access to personalized investment insights and research reports.

The Premium Metal Debit Card, designed by renowned artist Arunanshu Chowdhury, for the Privy League black tier lets customers enjoy luxury deals, complimentary airport lounge access among many other benefits. The Signature LED Debit Card, designed for Privy League Platinum tier is India’s first LED card, which lights up the customer’s transacting experience and is packed with features such as a 75% discount on Priority Pass. The programme offers an array of Business Banking solutions, and also provides preferential rates on loans, locker rentals, brokerage and other specialized products.

Mr Rohit Bhasin, President – Retail Liabilities Product and Chief Marketing Officer, Kotak Mahindra Bank Ltd, said “Over the last decade, the consumer ecosystem has undergone a paradigm shift with higher disposable incomes, purchasing power and the new age consumer demanding personalization and superior product experience. Consumers today are increasingly staking claims to luxury products, brands and services on their own terms. In line with this, Kotak’s Privy League programme is focusing on a value proposition that provides exclusivity and experiences beyond banking. We are excited to launch our flagship premium banking programme – Privy League in a new avatar of ‘Building Exclusivity via Experiences’ a value proposition that provides exclusivity and experiences beyond banking.”

About Artist Arunanshu Chowdhury

Born in 1969 in Hoogli, West Bengal, Arunanshu Chowdhury received The Elizabeth Greensheilds Foundation Award (Canada) and the Ravi Jain Foundation Award (New Delhi) in 1995. His recent works focus on the new generation, the influence of modern technology on society, and the theme of race against time. It is the new which appears with the contemporary label, the old is reborn as new. “Time will always look onwards. It is memories which are relived in images of Art, structure and in words”. Arunanshu has experimented with his work across multiple mediums by juxtaposing several images.

Black Metal Debit Card

Platinum LED Debit Card

Neon Textured Debit Card

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 March, 2023, Kotak Mahindra Bank Ltd has a national footprint of 1,780 branches and 2,963 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, visit the company’s website at https://www.kotak.com/.

Mahindra Logistics Launches International Cargo Charter Operations In Middle East

Mahindra Logistics Ltd. (MLL), one of India’s largest integrated logistics solutions providers, announced commencement of Cargo Charter operations in the Middle East, headquartered in Dubai.

MLL is part of India’s Mahindra Group and provides technology enabled integrated solutions for 3PL, Express and cross-border supply chain management. The company provides freight forwarding and related value-added services, serves over 55 lanes across the world. With this launch, the company will augment freight forwarding with cargo charter operations partnering with customers in Electronics, Consumer Durables, Pharma and Engineering.

The choice of Dubai, UAE as the hub for its global charter operations bears strategic importance. Over the past few decades, UAE has emerged as India's third largest trading partner in the year 2021-22. Dubai has also emerged as a global and regional trading hub. Mahindra Logistics will service the large Middle East region from its Dubai operations.

As a neutral player entering the global air cargo charter business, the company will offer dedicated aircrafts, enhanced transit time, and the expertise in end market solution development, integration with other logistics services and a strong technology interface.

Mr. Rampraveen Swaminathan, Managing Director & CEO, Mahindra Logistics, said, “In line with our vision of enhancing our services, we are pleased to launch our Cargo Charter operations, based in Dubai UAE. This also marks the first international foray for Mahindra Logistics. With increasing complexity in global supply chains, cross border supply chain services have become critical to supply chain resilience. The business expands our cross-border logistics business, in addition to our current freight forwarding business, providing our customers enhanced service options. The UAE, and Dubai, provide us a great launchpad to develop the business”.

Mr. Saurav Chakraborty, Head – Global Cross Border Solutions at Mahindra Logistics Limited commented, “We have chosen Dubai as the location for our air charter brokering business due to the unparalleled access and connectivity it provides. The charter business will be an independent division serving customers and partners across multiple vertical and geographies. We estimate this will significantly enhance our integrated solutions portfolio in line with our long-term business objectives”.

About Mahindra Logistics

Mahindra Logistics Limited (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. MLL serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customized and technology enabled solutions that span across the supply chain and people mobility services.  

For more information, visit www.mahindralogistics.com

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. 

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room

Supply Chain Visibility Leader FourKites Partners With Gravity Supply Chain Solutions To Provide Real-time, First-Mile Visibility

~Exclusive partnership will bring real-time visibility into purchase orders and inbound shipments to streamline inventory management, manufacturing and distribution~

Leading supply chain visibility provider FourKites today announced an exclusive partnership with Gravity, maker of an award-winning supply chain management platform for many of the world’s leading shippers and freight forwarders. The partnership will extend the real-time visibility offered by the FourKites® platform to encompass the first mile — from the time an order is placed with a supplier — all the way through to product delivery via a seamless integration with Gravity’s SaaS solution.

The first mile is often the critical link in the supply chain, when raw materials and purchased finished products are shipped from global suppliers to manufacturing and distribution locations. “Last-mile delivery generates a lot of attention and a lot of headlines, and often overshadows the importance of the first mile,” FourKites founder and CEO Mathew Elenjickal said. “If you don’t have sufficient control over your upstream supply chain, everything that comes after the first mile will be less effective.”

Inefficiencies and disruptions in the first mile have significant ramifications on working capital, costs and revenue. Traditionally, companies have attempted to manage the first mile through manual processes, including spreadsheets and phone calls. This cumbersome, disjointed approach results in unpredictability and higher costs. Consequently, shippers lack the visibility to know if they will have sufficient inventory on hand to meet production and/or distribution schedules, and they are unable to collaborate efficiently with their suppliers to ensure material availability and delivery dates.

Gravity’s modern, easy-to-use SaaS solution addresses these issues, offering visibility into and control over the purchase order process — from order creation through changes and fulfillment. This solution will integrate with FourKites’ real-time shipment visibility and order intelligence solutions to ensure that customers have an exception-based, single source of truth for the entire order life cycle. The highly configurable solution, which can be up and running quickly, will provide seamless integration, simpler collaboration and streamlined operations with real-time updates — all in one centralized platform.

“Of any visibility provider on the market, we chose to partner with FourKites because of its deep, trusted relationships with many large Fortune 1000 customers,” said Graham Parker, CEO and founder of Gravity Supply Chain Solutions. “Our partnership will give these brands a seamless, end-to-end picture of their supply chain, so they can react quickly and confidently to any situation. We have been impressed by FourKites’ innovative solutions, its collaborative culture and its impressive track record of delivering value to customers, and we’re thrilled to work together to fortify our efforts and provide a unique offering to the market.”

Founded in 2015, Gravity is headquartered in Singapore, with offices in the United States, the United Kingdom and Hong Kong. The company has rapidly gained traction in the 3PL and freight forwarder space, and counts among its customers the French conglomerate Bolloré SE, R?hlig Logistics, Scan Global Logistics and Gebrüder Weiss.

“As FourKites continues to expand into order and inventory management with solutions such as our Order Intelligence Suite, this partnership with Gravity will extend our capabilities even further upstream,” Elenjickal said. “As a result, our customers can be confident that their suppliers will provide the necessary components and parts they expect by the promised date, eliminating the delays, confusion and costs that many people now incorrectly attribute to issues with the last mile.”

About FourKites

Leading global supply chain visibility platform FourKites® extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 3 million shipments daily across road, rail, ocean, air, parcel and last mile, and reaching over 200 countries and territories, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 1,200 of the world’s most recognized brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.

ABB India Expands Manufacturing Footprint Of Its Energy Efficient Drives Portfolio

Supporting the ‘Atmanirbhar Bharat’ program, the enhanced facility strengthens local manufacturing to meet domestic and global demands

Aims to double production capacity by 2025, local manufacturing offering customers faster access to products, customization, and quick serviceability

ABB’s variable speed drives can typically reduce power consumption by up to 25%

Factory’s new line will have over 50% women technicians

ABB India expands its production footprint with a new line for variable speed drive modules at the Peenya factory in Bengaluru. The new line will produce drives ranging from 75 kW to up to 250 kW and will cater to all major industrial segments. ABB’s variable speed drives are used to control the speed of electric motors to match the actual demands of the process to improve energy efficiency and performance in any industrial application or any building globally. When added to the existing motor of a pump, fan or compressor, a drive can typically reduce power consumption by up to 25%.

Part of the integrated campus that houses ABB’s corporate office and other business’ factories, this new production line aims to meet the growing demand of domestic and global customers. With local manufacturing, now customers in India will get faster access to the products, their customization options, and quick serviceability. The expansion will also strengthen the local supplier eco-system for ABB low voltage AC drives portfolio. 

“This expansion demonstrates our commitment to innovation, delivering world-class sustainable products and solutions for the Indian market as well as to enriching the local supplier base,” said A.R. Madhusudan, President, Drive Products, ABB India. “At a time when India is globally playing a leading role in clean energy, drive products represent leading technology of energy efficiency, termed as the first fuel of clean energy transitions. ABB drives manufactured in India will contribute to country’s energy efficiency journey and its goals across industries, buildings, and infrastructure,” he added.

Variable speed drive supports critical national infrastructure projects such as ventilation for Atal tunnel and COVID-19 vaccination manufacturing for pharma units. ABB drives are part of the HVAC solutions that have been installed for the prestigious Statue of Unity project. The hospitality industry across the country also deploys ABB drives to optimize the energy consumption.

“As a result of systematic development activities, I am happy to be witnessing this great opening ceremony with the customers and key suppliers. Team has done an excellent job and we are ready to take even further growth steps together” said Vesa Kandell, Global Head of Operations, Drive Products, ABB.

The new line of production is ergonomically designed with position, angle and torque control and a programmable fastening system. This facility is designed for effective utilization of available space for better productivity and enhanced safety and is equipped with expanded precision testing facility. The expanded facility also employs skilled technicians/ engineers, which includes over 50% women workforce on the production line.

Despite of the great energy saving and performance improving potential, currently only about 23% of the world’s motors are paired with a drive. Hence, this factory will play a key role in enabling businesses and industries at large to adopt energy-efficient technologies and help achieve carbon-neutrality.

ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered, and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com  

ABB Motion keeps the world turning - while saving energy every day. We innovate and push the boundaries of technology to enable the low-carbon future for customers, industries and societies. With our digitally enabled drives, motors, and services our customers and partners achieve better performance, safety and reliability. We offer a combination of domain expertise and technology to deliver the optimum drive and motor solution for a wide range of applications in all industrial segments. Through our global presence we are always close to serve our customers. Building on over 130 years of cumulative experience in electric powertrains, we learn and improve every day. www.new.abb.com/about/our-businesses/motion

ABB Drive Products is a technology leader serving industries, infrastructure and machine builders with world-class drives. With our products, global scale and local presence, we help our customers to improve energy efficiency, productivity and safety. www.abb.con/drives

Nokia C22: The Perfect Blend Of Affordability And Performance

* Superior build quality that outperforms competition with better durability against accidental drops and a 13MP dual camera starting at INR 7999

HMD Global, the home of Nokia phones, today announces Nokia C22, an affordable smartphone with exceptional durability, outperforming the competition[i] with improved drop protection. Nokia C22 is built to last and comes with signature three-day battery lifeii, dual 13MP rear and 8MP selfie cameras backed by advanced imaging algorithms, Octa-core processor and the best of AndroidTM 13 (Go edition) straight out of the box.

Adam Ferguson, Head of Product Marketing, HMD Global: “The Nokia C-series has always been about providing reliable, affordable smartphones that offer a great user experience and Nokia C22 is no exception delivering better durability against drops, resulting in a robust device that you can trust to last and keep for longer.”           

A strong design, rigorously tested to last

Outperforming the competition in rigorous free fall testsi, Nokia C22 is prepared to take on the unexpected moments of daily life. It’s kept safe from scuffs and scrapes thanks to IP52 splash and dust protection, toughened 2.5D display glass, and rigid metal chassis housed within a strong polycarbonate unibody design. And if that is not enough, it comes with one year replacement guarantee promise of Nokia.

Capture incredible memories with crisp detail in any light

To get the most out of the 13MP dual rear and 8MP front cameras, Nokia C22 is packed with advanced imaging algorithms that give clear pictures sunrise to sunset. Take focussed portrait shots with beautifully blurred backgrounds. Night-time imagery has just the right amount of light and contrast thanks to a new, bespoke Night mode algorithm. That, combined with Auto HDR support for extra clarity, captures life’s key moments in dazzling quality on a 6.5” HD+ display.

Latest features for improved efficiency

Thanks to the streamlined OS with no bloatware, your storage space and mobile data plan will go further.  Memory extension turns unused storage space into additional 2GB of Virtual memory (RAM)v, making multitasking simple and smooth.

Secure and built for the long run

Over 60% of digital fraudvi comes from mobile devices – Nokia C22 receives regular security updates for at least two yearsvii to keep you safe and continues evolving to protect you from new cyber threats. Quickly and securely unlock your phone with face unlock and the rear fingerprint sensor.

A powerful 5000 mAh battery is supported by the Battery Saver feature that’s unique to Nokia phones, so you can go three whole days without worrying about charging.

In-Box Accessories include:

·         Charger with USB-C™.

·         Add further protection for your Nokia C22 with a clear case. The ultra-slim, lightweight case doesn’t hide your phone’s design and provides increased impact protection.

Pricing, Offers and Availability

The Nokia C22 is available in India from today in Charcoal, Sand and Purple colours, with prices starting from INR 7999 and comes in 4GB (2GB + 2GB Virtual RAM) and 6GB (4GB + 2GB Virtual RAM) clubbed with 64GB storage configuration (support for up to 256 GB additional memory).

Jio Partner Offer: Nokia also brings benefits for Jio Plus (Postpaid) users on the INR 399 plan , which provides 75GB monthly data + 3 add-on SIMs. Customers can give a missed call on 70000 70000 for Jio SIM home delivery.

Jio Plus(Postpaid) Nokia phone users will get special benefits worth up to INR 3,500 as 100 GB additional Data (10 GB Additional Monthly Data for 10 months) worth INR 1000 and additional coupons worth up to INR 2500 in the form of:

i)                    3 month EazyDiner subscription worth INR 700

ii)                    INR 750 off on flights over INR 4500 on Ixigo

iii)                 3 months ET Prime Subscription worth INR 1100 at INR 49 only.

Visa – EY Report Identifies Disruptive Megatrends Driving The Journey To A $1 Tn Tourism Economy

* 400Mn jobs to be created by 2047 in the tourism industry

I* nternational tourists in India spend 26x more than domestic, hence attracting global visitors is key

Visa Inc. (NYSE: V), the global leader in digital payments, and EY, the leading professional services organization, have launched a comprehensive report titled "Charting the Course for India – Tourism Megatrends Unpacked,". The report reveals that India's tourism industry is on track to reach US$1 trillion by 2047, with data-led tourism set to be a key driver of growth. It takes a long-term view of India's tourism industry, beyond the pandemic's impact, and identifies the megatrends expected to shape the sector over the next decade.

The report was unveiled in the presence of Amitabh Kant, G20 Sherpa, and former CEO, NITI Aayog, and Alfred F. Kelly Jr., Executive Chairman, Visa, at the ASSOCHAM India Tourism Conference in New Delhi.

Commenting on the report, Sandeep Ghosh, Group Country Manager for India & South Asia, Visa said, “The projected growth of India's tourism industry to reach US$1 trillion by 2047 is an exciting opportunity for the country. By aggregating and utiliing data from various stakeholders, such as payment service providers and private tour operators, we can help create a more resilient and sustainable tourism ecosystem for India. The report's findings demonstrate that the key to building a robust future for India's tourism industry is through data-driven insights. Visa's Destination Insights, which have already proven successful in London, Singapore, and Australia, offer a valuable tool to measure the impact of tourism and support decision-making."

In the last two years, the pandemic has spurred a rapid global research effort into the tourism sector, leading to the emergence of some long-term and self-sustainable solutions. In India as well, there has been an extensive discourse on the impact of COVID-19 on the sector, resulting in issues and solutions created by the sector and government.

Pragyal Singh, Partner, Business Consulting, EY India, while speaking of the report said,

"The travel & tourism industry is a major contributor to economic development and job creation in the world and tourism in India is also poised to grow rapidly across various segments. The potential of tourism to create massive economic impact, however, has remained as yet untapped. The Government of India is continuously working on multiple initiatives such as PRASHAD, Swadesh Darshan and Dekho Apna Desh to support and nurture the travel ecosystem. The Draft National Tourism Policy provides a timely and innovative framework for sustainable and holistic growth of tourism in the country. The Ministry of Tourism has designated the Year 2023 as ‘Visit India’ year and is also developing a Visit India 2023 strategy. There is a need to understand the megatrends affecting the tourism sector over the next decade and for the entire ecosystem to collaborate for ensuring the economic benefits of this growth are realized."

The report identifies Sustainability, Enabling Technologies, and Evolving Tourist Preferences as the main disruptive forces driving tourism. Sustainable tourism experiences and offerings are in high demand worldwide, and this trend is likely to continue in the future. At present, the global sustainable tourism market is valued at US$180 billion. In India, this is valued between US$26 million- US$2.5 billion and is expected to grow at 15% CAGR.

The second major trend is the role played by innovative technologies and digitalisation. In the aviation, travel, and tourism industries, digitalisation is expected to create US$305 billion in value and move US$100 billion of value away from traditional players to new competitors globally.

Another key trend identified is evolving tourist preferences, driven by the presence of Gen Z, which constitutes 24% of the global population and 27% of this is in India. The report offers detailed insights into the segments that will play a critical role in driving tourism industry growth and the Indian economy at large.

·       Spiritual tourism will play a key role since 60% of domestic tourism in India is spiritual in nature, and 30.5 million international travellers are expected to visit India by 2028 for this purpose.

·       Medical and wellness tourism will witness growth with a potential for 24 million jobs to be created by 2032. In 2021, 21% of international travellers sought medical treatment in India .

·       Adventure and sports tourism has a potential to create 6 million jobs by 2032. Globally, an average adventure tourist spends US$2,900 per trip.

·       Business travellers and MICE – India’s share in the global MICE market will more than double from 2019 to 2025. In 2021, 12.1% of foreign tourists visited India for business purposes.

·       Travel mobility – Airports in India will increase to 220 by 2025 with US$1.5 trillion worth investments through the National Infrastructure Pipeline Scheme (2020-25)

The report offers some recommendations to strengthen and accelerate India’s tourism industry:

Sustainable tourism certification and measurable standards based on data are needed for a resilient and sustainable future

Open mobility, integrated seamless fare systems, account-based payments, and the application of Payment Infrastructure Development Fund (PIDF) as steps towards redefining the future of transit.

Travel-tech startup ecosystem requires structured funding and incubation support

Enable tourism industry workforce through relooking at labor contracts, providing vocational training and tech-skilling programs to realise the benefits of enabling technologies.

 Visa and EY believe that by implementing the insights from this report, India can create a more sustainable and tech-enabled tourism industry, which will benefit the country's economy, people, and culture.

Tata Capital To Offer UPI 123PAY Digital Payment Facility For Feature Phone Users With ToneTag

* The solution will improve payment capability for Microfinance customers of the Company

Tata Capital, the financial services arm of the Tata Group, will now offer UPI 123PAY digital payment facility- an instant IVR based payment system to make secured transactions through feature phones as well as smart phones. UPI 123PAY service is developed by NPCI and powered by ToneTag VoiceSe. The UPI 123PAY solution will be one more option in the bouquet of payment collection solutions for Tata Capital customers. It will be especially useful for low value payments, for microfinance customers and will increase operational and debt servicing efficiencies.

This new payment solution is likely to become a preferred option for customers having limited or sporadic access to internet connectivity and smartphones. The service entails a three-step procedure; call, choose and pay. For instance, the initial step is to dial the IVR number from a registered phone number, select the preferred language, choose the UPI-linked bank account, set up the UPI PIN and eventually make payment.

The payment solution will be made available in phases and will be rolled out initially in six regions namely Karnataka, Uttar Pradesh, Bihar, Odisha, Rajasthan and Tamil Nadu and will be available in five languages.

Commenting on the initiative Abonty Banerjee, Chief Digital and Marketing Officer at Tata Capital, said, "It has always been our endeavour to provide all possible servicing and payment solutions to customers to choose from, and enable them to use the ones most suited to them. This IVR based payment option which also works on feature phones, is likely to see greater adoption from our microfinance customers as well as those who have limited access to connectivity. We believe this will make payments more convenient for these customers.

Vivek Kumar Singh, Co-Founder ToneTag, “We are looking at voice technology that empowers all mobile phone users to make safe and fast digital payments in a convenient method without the help of any app. This now brings the entire Indian population into the digital payment ecosystem. Our solution is standard and uniform to all mobile phone users making it the most simple and secure form of making payments. Users can speak in their preferred language and follow simple steps to make payments, all of this from sitting in the comfort of their homes”.

About Tata Capital Limited

Tata Capital Limited, a holistic financial services provider that caters to the diverse needs of retail, corporate and institutional customers. Its range of offerings include Consumer Finance, Advisory Services, Commercial Finance, Infrastructure Finance, Microfinance, Project Finance, debt syndication, Investment Banking, Private Equity Advisory and Credit Cards. For more information about Tata Capital, visit www.tatacapital.com