Bank of India increases Fixed Deposit Rates For 1 Year Tenor, Offering Upto 7.65% For Super Senior Citizens

Bank of India, one of the leading public sector banks in India, has increased the interest rates for 1 year tenor to 7.00% with effect from 26th May, 2023 for retail customers(for less than Rs 2 crores deposits). Following the revision bank offers rate of interest in the range of 3 % to 7.00 % for normal customers for deposits maturing in the range of 7 days to 10 years. It provides an interest rate of 7.50% for senior citizens and 7.65 % for super senior citizens for a deposit period of 1 year. The revised interest rates are applicable for domestic, NRO and NRE deposits.

Toyota Kirloskar Motor Flags Off The First Zonal Drive Of Its ‘Great 4X4 X-pedition’, In Southern Region Of India

Toyota Kirloskar Motor (TKM) flagged off its highly anticipated ‘Great 4x4 X-pedition’ today, marking the beginning of an extraordinary three-day adventure for motoring enthusiasts across the country. This thrilling drive aims to captivate and engage the 4x4 SUV fans through an unparalleled off-roading experience, encouraging them to go beyond the ordinary, by igniting the spirits of adventure, and create lasting memories through this exciting journey with Toyota. This endeavour is poised to deliver "Mass Happiness" to all the participating 4x4 community.

The Great 4x4 X-pedition by Toyota commenced this morning from Bangalore with the participation of 4x4 enthusiasts from Southern India. It will traverse through the exhilarating routes of Hassan and Sakleshpur over next two-days with an impressive convoy of 4x4 SUVs, driven by off-roading enthusiasts to unleash the true potential of their proudly owned vehicles, including the legendary Hilux, Fortuner 4x4, LC 300, Hyryder AWD, as well as other SUV brands of vehicles.

As an integral part of this X-pedition, TKM has created an additional 4WD track replete with natural obstacles like articulation, side inclines, rambler, deep ditches, slush, rocky beds, and more, ensuring an extreme off-roading experience like no other. Over the next few days, participants will not only indulge in thrilling off-roading adventures but also immerse themselves in the scenic beauty of the region and explore historical points of interest along the way. This initiative also encompasses company’s vision towards sustainability by engaging in social interventions and contribute to restore nature’s ecosystem. Moreover, attendees can partake in various recreational activities that is expected to enhance the excitement of this inspiring 4x4 outdoor lifestyle experience.

Marking the flag-off of the first-ever ‘Great 4x4 X-pedition’ in southern region of India, Mr. Atul Sood - Vice President, Sales and Strategic Marketing of Toyota Kirloskar Motor said, "The Great 4x4 X-pedition by Toyota is designed to connect with the 4x4 fans, enriching their experiences by providing them an opportunity to be a part of our unforgettable journey. We extend our heartfelt gratitude to all the enthusiastic participants, and wishing them a safe, memorable, and exhilarating drive”.

#FlauntYourSuperpower With OPPO F23 5G, The Ultimate Battery Powerhouse Priced At Rs 24,999

* The OPPO F23 5G, equipped with a large 5,000mAh battery, 67W SUPERVOOCTM fast charging, and OPPO's Battery Health Engine, is built for those who suffer low battery anxiety

OPPO, the leading global smart devices brand, announces the launch of its latest smartphone, the OPPO F23 5G. The device will be available at INR 24,999, from May 18,2023 at 12AM, through the OPPO Store, on Amazon, and at mainline retail outlets.

With the sale of F21 series, Bangalore has raised its market share by 73% and currently operates 35 service stations in the state.

Recent research by OPPO & Counterpoint indicated that 3 out of 4 people in India have Nomophobia--the fear of being left without a phone--triggered mostly by low/dead battery. The study also revealed that 46% of respondents charge their phones twice daily, 92% use power-saving mode to deal with battery discharge issues, and 60% of smartphone users will buy a new phone if their current one does not have a good battery. 

To combat the issue of Nomophobia--and to meet this very articulated need for a device with a long-lasting, large-capacity, durable battery--OPPO has introduced F23 5G.

The handset features OPPO's proprietary 67W SUPERVOOCTM flash charging that juices the device to 50% in just 18 minutes, while a 5-minute charge can provide up to 6 hours of phone calls or 2.5 hours of YouTube video viewing. On a full charge, its 5000mAh battery lasts up to 39 hours of phone calls and 16 hours of YouTube video viewing.

Also, OPPO's Battery Health Engine ensures that the device can be charged-discharged 1600 times, which means the F23 5G will perform at close to optimal capacity for up to four years.

Damyant Khanoria, Chief Marketing Officer, OPPO, said, "At OPPO, we understand that nomophobia, or the fear of being without a mobile phone or being unable to use it, is a real concern for many smartphone users. With the OPPO F23 5G, we're proud to offer innovative technologies like Battery Health Engine and SuperVOOC fast charging, which provides reliable and convenient battery performance for a seamless experience. So, you can focus on enjoying the things you love to do with your phone without worrying about its battery life."

Additionally, OPPO focuses on battery reliability and safety with features like all-day AI power-saving mode, super night-time standby, and 5-layer charging protection that comprises adaptor overload protection, flash charge condition identification protection, charging port overload protection, battery current/voltage overload protection, and battery fuse protection.

Power-packed Smooth experience

The F23 5G phone is equipped with the Qualcomm Snapdragon 695 5G SoC and comes with 256GB storage that can accommodate 80 full-length movies, over 1,00,000 images, or 40,000+ songs, making it ideal for individuals on the go; the device also supports expandable memory up to 1TB via SD card. And its 8GB RAM can be extended by a further 8GB from storage via OPPO's RAM expansion technology.

The F23 5G runs on ColorOS 13.1, which enhances privacy and performance with features like screen translate that allows you to point the camera at a script for instant AI-based translation, auto pixelate user photos in messaging apps, and a private safe to secure all your sensitive documents and photos.

Unparalleled smartphone photography experience

The OPPO F23 5G sports an advanced camera setup--a 64MP AI shooter, a 2MP depth camera, a 2MP microlens, and a 32MP selfie snapper--backed by proprietary features such as Portrait Mode, AI Portrait Retouching, Selfie HDR, and AI Color Portrait to deliver stunning, high-quality images in all situations.

An Ergonomic yet durable design

For premium looks, the F23 5G sports OPPO Glow, which comprises millions of nano-level etchings on the back to resemble microscopic diamonds; its 3D curved back is fingerprint resistant and has a slight curve on each edge to make it more comfortable to grip.

The device has undergone the most rigorous durability tests in the lab to assess its resistance to physical drops, water damage, radiation, climate impact, and signal stability. 

Keeping users engaged with a bright display

The OPPO F23 5G is fronted by a bright 6.72-inch large display that is legible even in direct sunlight and supports an Ultra-High Refresh Rate of 120Hz to deliver a smooth user experience. It boasts a 3D curved screen with a 91.4% screen-to-body ratio that maximises the display size while minimising bezels.

Market availability

OPPO F23 5G will be available in two colours- Bold Gold and Cool Black from 18th May. The 8GB RAM + 256GB ROM model is priced at XXX and available for purchase from OPPO store, Amazon, and mainline retail outlets.

Customers can avail the following offers on the first sale of OPPO F23 5G:

·        Customers can enjoy up to 10% Cash Back and No Cost EMI up to 6 months from May 18 till May 31 on ICICI Bank, SBI Cards, Kotak Mahindra Bank, & other leading Banks and Financiers. The offer can also be availed from Bajaj Finance, TVS Credit, and HDB Financials on EMI Finance schemes

·        Loyal OPPO customers can avail an Exchange + Loyalty Bonus of up to INR 2500. Customers owning smartphones other than OPPO can also avail an exchange offer of up to INR 1500

·        Attractive EMI Schemes, including Zero down payment are available on Bajaj Finance, TVS credit, IDFC First Bank, HDB Financials, & other leading financers

Customers can avail the OPPOverse Bundle Offer:

·        Buy OPPO F23 and Enco Air2i between May 18 to May 23 and get Enco Air2i at a discounted price of only INR 1799.

Gokaldas Exports’ Delivers A Strong Performance During FY23

Gokaldas Exports Limited today declared its financial results for the year ended March 31, 2023. The Company reported consolidated net profit of Rs 173.0 Cr, up by 47.7% compared to Rs 117.1 Cr for the last year and reported a consolidated revenues of Rs 2247.2 Cr for the year, up by 24.8% compared to Rs 1801.0 Cr for the last year.

Commenting on the company’s fourth quarter performance, Mr. Siva Ganapathi, Vice Chairman and Managing Director, Gokaldas Exports said, “Our performance is a testament to our dedicated team and unwavering commitment to excellence which have propelled us to new heights, delivering outstanding results in a challenging market environment globally. The government's emphasis on boosting exports through budget allocation and trade agreements will play a crucial role in driving the industry forward.”

The company will continue to focus on optimal resource utilization and drive operational excellence in the coming quarters.

The Company is pleased to announce that the Board of Directors have recommended a final dividend of Re.1/- (one rupee only) per equity share (i.e., 20% of face value of Rs. 5 per equity share) for the financial year ended March 31, 2023, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.

About Gokaldas Exports

Established in 1979, Gokaldas Exports has evolved to become a one-stop solution for some of the world’s most recognized apparel brands. With an annual turnover of USD 275 million, Gokaldas Exports is India’s largest manufacturer and exporter of apparels. Exporting to more than 50 countries, Gokaldas has 20+ production units, 15000+ advanced machines that produce 3.0 million garments in a month. ~26,000 employees of Gokaldas Exports work together to ensure Gokaldas Exports’ vision of being a globally reputed apparel manufacturer and exporter comes true with emphasis on innovation and sustainability.

Equitas Small Finance Bank Collaborates With IBM On Modernized Banking Platform For Digital-First Generation

* Cloud-native secure platform to elevate customer experience and catalyse the next phase of high-speed growth for the bank

IBM (NYSE: IBM) has announced that Equitas Small Finance Bank is collaborating with IBM Consulting to design and build a digital banking platform that delivers a modern and highly secure experience to the bank’s customers and partners. The collaboration aims to boost Equitas’ digital products and services offerings as it evolves its business for a digital-first generation. Through this association, Equitas will embark on a high-speed path to leverage technology as a differentiator in its next phase of growth.

Launched in 2016, Equitas Small Finance Bank is one of the leading small finance banks in India. After having established its business as part of the initial growth phase, Equitas is now looking to capitalize on its position as a technology-forward industry leader. As part of the next growth phase, Equitas aims to commence its modernization journey with a cloud-native platform architecture that aligns with the bank’s business strategy.

To help achieve these layered objectives, Equitas is working together with IBM Consulting to adopt a cloud native architecture so that digital channels and applications can securely run across any technology environment. This will help boost operational efficiency for the bank and enhance adherence to industry regulatory compliance requirements, while enforcing higher levels of security. IBM Consulting will develop and deploy modern web and admin portals for Retail Banking and Corporate Banking as well as multi-device banking apps for Retail Banking.

Narayanan Easwaran, Chief Information Officer, Equitas Small Finance Bank said, “Equitas SFB as part of its ongoing digital transformation program would be focusing on customer experience by leveraging data and analytics to drive omni channel engagement and enable a platform-driven ecosystem to make the experience of banking and finance more personalized and empowering. The bank’s delivery model would be highly product-centric moving away from traditional Program Management methodologies to Agile frameworks for the various channels including mobile. This partnership with IBM is just the first step towards engaging customers. We are confident that this strategic partnership with IBM will help simplify and transform the banking experience for customers across the board.”

Kamal Singhani, Country Managing Partner, IBM Consulting, India/ South Asia said, “Evolving consumer demands have made digitization the need of the hour, especially for the financial services sector, as it scales to newer customer-centric business models. We’re excited to be the consulting partner and technology collaborator of Equitas in its next growth phase. We are leveraging the deep banking industry expertise coupled with digital experience and cloud capabilities of IBM Consulting to design a modern platform to support Equitas Bank’s digital journey for its customers.”

About Equitas Small Finance Bank Limited [ESFB]

Equitas Small Finance Bank is one of the largest small finance banks in India. As a new-age bank, we offer a bouquet of products and services tailored to meet the needs of our customers – individuals with limited access to formal financing channels, as well as affluent and mass affluent, Small & Medium Enterprises (SMEs) and corporates. Our firmly entrenched strategy focuses on providing credit to the unbanked and underbanked micro and small entrepreneurs, developing products to address the growing aspirations at the ‘bottom of the pyramid’, fueled by granular deposits and ‘value for money’ banking relationships.

About IBM

IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

Capri Loans Acquires 51% Stake in CarLelo Paving The Way For Digital Transformation In The Indian Automotive Market

Capri Global Holdings Pvt Ltd (CGHL), the holding company for Capri Global Capital Limited - a prominent non-banking financial company with the brand name Capri Loans, has expanded its national footprint by acquiring 51% stake in CarLelo, India's leading online new car selling platform. This strategic investment, amounting to Rupees 150 crore, reinforces Capri Loans' position as a key player in the Indian automotive financing market while driving digital transformation and enhancing the consumer experience. 

Capri Loans is the No. 1 new car loan aggregator in the Car Loan industry, clocking a whopping number of 60,000 car loans in the last financial year itself. As a prominent player in the financial services industry, Capri Loans recognizes the immense potential in the online new car financing segment. This acquisition is a natural progression towards cementing Capri Loans commitment to customer convenience and its dedication to meet the evolving needs of Car Loan customers nationwide. 

Emphasizing the company's customer-centric approach and this acquisition, Mr Rajesh Sharma, Managing Director & Founder, Capri Global Holdings Pvt Ltd stated, "At Capri Loans, customer convenience lies at the core of our operations. This investment is a testament to our commitment to driving growth of the online new car sales & financing market while empowering new-age techpreneurs to overcome existing market challenges. Through our partnership with CarLelo, we aim to cater to the ever-evolving needs and requirements of customers across the nation. Capri Loans recognizes this investment as an opportunity to foster the expansion of the burgeoning online new car sales market, all while prioritising utmost convenience in terms of financing for customers and propelling forward cutting-edge solutions within the industry." 

With this fresh influx of capital, CarLeLo will improve its presence, services and technology which will be utilised to acquire new customers. The robust services that CarLelo provides will also work towards improving relationships with existing consumers. CarLelo currently has 1,200 associates strategically placed across 34 cities in India who regularly interact with customers, delivering them end-to-end services for all their new vehicle-related needs. In addition, the company will also handhold 8,000+ authorized dealerships in the country to enhance customers’ digital buying and selling experience. Further, CarLelo, with its innovation in online new car sales, intends to sell around 7,000 to 8,000 cars every month, making it the go-to platform for customers seeking a hassle-free car buying experience. The online platform also offers a catalog of 32 brands, 265 models and 1,700 variants.  

Gaurav Aggarwal, the visionary CEO of CarLelo, expressed his excitement about the association with Capri Loans, said, "Capri Global Holdings Pvt Ltd.’s investment serves as a resounding validation of CarLelo's vision to revolutionize the new car selling and buying experience for today's tech-savvy generation, ushering in unprecedented transformations in the online auto sales market. With the increasing prominence of digital sales and the anticipated rise to an 80% market share within the next two years, driven by the rapid penetration of the internet and smartphones, as well as the shifting consumer sentiments towards online purchases of high-value items, this investment will bolster our endeavours to enhance our services and facilitate seamless car transfers by leveraging cutting-edge technologies. The digital car sales realm represents an untapped and abundant market opportunity, and together, CarLelo and Capri Loans can forge new frontiers within this domain.” 

Capri Loans understands that today's customers seek convenience, transparency, and competitive pricing when purchasing a new car. With CarLelo's user-friendly platform, customers can easily research and compare different car models, obtain quotes and loan options and even book test drives online.  

About Capri Global Holdings Pvt Ltd: 

Capri Global Holdings Pvt Ltd. is the holding company for Capri Global Capital Limited (CGCL). CGCL is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small Cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 700+ branches spread across 15 States and Union Territories with a workforce of ~8,000 employees. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2023-24 for a second consecutive year. 

Aditya Birla Capital Launches One Verse To Offer Customers An Immersive & Interactive Experience In The Metaverse

-          Becomes one of the leading Non-Banking Players in India to open a Virtual Lounge in the Metaverse

-          Customers can access financial products & schemes, and receive personalized financial advice from customer care representatives in a secure and interactive space

-          Access various digital self-service channels such as WhatsApp, Bot, and Web portal etc.

Aditya Birla Capital, the financial services arm of the Aditya Birla Group, announced the launch of One Verse, a Virtual Lounge in the Metaverse to offer its customers an immersive and interactive experience of the vast offerings of its PIFA solutions which is Protection, Investing, Financing and Advising. Its protection offerings include insurance solutions for life, health, motor, travel, corporate general insurance, and wellness; investing offerings include mutual funds, stocks & securities broking, wealth, portfolio management services and pension funds; the financing solutions consist of home finance, personal finance, SME finance, mortgage finance, loan against securities, corporate finance, debt capital market & loan syndication and asset reconstruction; it also offers money advisory services to help customers fulfil their financial services needs.

With this launch, Aditya Birla Capital becomes one of the leading Non-Banking Players in India to open a Virtual Lounge in the Metaverse.

In line with its digital strategy of implementing emerging technologies and innovative digitization initiatives across age-groups, One Verse becomes another digital channel for Aditya Birla Capital for engaging with the younger generation of tech savvy customers. It will also provide them with the knowledge of financial services through an immersive and interactive virtual experience. Users can access One Verse through the Aditya Birla Capital’s website, Mobile app or by using the Occulus VR headset.

One Verse offers a virtual replica of the physical branches, wherein customers can create their digital twin by taking a selfie and entering the Virtual Lounge to interact with an agent and navigate through the various product and service experiences.

Features & Benefits

-          The Virtual Lounge features interactive displays, digital walls to deliver a unique experience of its Protecting, Investing, Financing and Advising solutions to customers

-          Customers can create their digital avatars, and interact with representatives of Aditya Birla Capital

-          They can also access various digital self-service channels like WhatsApp, Bot, and Web portal by scanning the QR code or by clicking on the Web Portal tab

-          The platform further allows customers to access financial products and schemes anytime, anywhere, and receive personalized financial advice from customer representatives in a secure and interactive space

-          The platform is a virtual replica of the physical branches and customer can interact with the customer care executive for any assistance on queries.

Aditya Birla Capital has been bolstering its digital capabilities by scaling up its digital base to build an integrated portfolio of digital assets to serve customers in a frictionless manner and across channels of their choice.

It launched Udyog Plus, a comprehensive digital platform for MSME ecosystem, to offer a completely paperless digital journey for business loans and loan disbursement of up to Rs 10 lakh. The platform is integrated with government e-commerce websites via Open Credit Enablement Network and with private e-commerce websites to provide credit facilities to sellers on these platforms.

Aditya Birla Capital also incorporated a wholly owned subsidiary, Aditya Birla Capital Digital Limited (“ABCDL”) to develop an omni-channel Direct-to-Customer (D2C) platform to serve existing customers, acquire new customers and act as a one stop-solution for delivering PIFA solutions to customers. In addition, it collaborated with the National Payments Corporation of India (NPCI) to develop and promote a complete set of digital payment options to customers, through its subsidiaries.

It recently launched INFINITE, a flagship start-up engagement programme, to co-create solutions with tech-driven start-ups for enhancing customer journeys and increasing operational efficiencies.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group.

With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by more than 34,000 employees, the businesses of ABCL have a nationwide reach with over 1,295 branches, more than 2,00,000 agents/channel partners and various bank partners.

As of March 31, 2023, Aditya Birla Capital Limited manages aggregate assets under management of about Rs. 3,600 billion with a consolidated lending book of approx. Rs. 943 billion, and an active customer base of approx. 38 million, through its subsidiaries and joint ventures. Aditya Birla Capital Limited is a part of the Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities, the Aditya Birla Group operates in 36 countries across the globe. For more information, visit www.adityabirlacapital.com