Hitachi Payment Services To Acquire Writer Corporation's Cash Management Business

Hitachi Payment Services, India’s leading integrated payment solutions provider, has entered into an agreement to acquire the Cash Management Business of Writer Corporation, a multi-business enterprise.  

In the Cash Management industry, Writer Safeguard - the Cash Management Business of Writer Corporation, has been providing comprehensive cash services including ATM cash replenishment and retail cash pick-up services to corporate clients in India since 2001. Writer Safeguard has a network of close to 40,000 touchpoints including ATMs and Retail spanning 25 states across 1,500 locations serviced by a workforce of over 10,000 people.

The acquisition will transform Hitachi Payments’ market standing by integrating the cash management business into its overall service offerings, positioning it as a one-stop payments and commerce solutions provider. It will enable Hitachi Payments to provide comprehensive ATM services to financial institutions, while on the merchant side it would complement Hitachi Payments’ digital offerings.  By offering a unified and single platform for all merchant related payment and commerce needs, the acquisition will further strengthen Hitachi Payments’ value proposition to merchants and serve as a catalyst in accelerating digital adoption.

Tatsuro Ueda, Vice President and Executive Officer, CEO of Financial Institutions Business Unit, Hitachi, Ltd. said “As the movement of digitalization accelerates globally, Hitachi is committed to provide future-ready solutions that effectively meet the varied needs of our customers especially in India, where digitalization is progressing rapidly in rural areas. This acquisition will enable us to expand our service offerings and further strengthen our position in the Indian market. Specifically for the merchant ecosystem, we will be able to provide a distinctive value proposition and further drive digital acceptance by becoming a one-stop solution provider, catering to the diverse needs of merchants.”  

Sumil Vikamsey, Managing Director & Chief Executive Officer – Cash Business, Hitachi Payment Services, said “The acquisition of the Cash Management Business of Writer Corporation will complement Hitachi Payments’ vision of becoming a leading payments and commerce solutions provider, offering holistic, reliable and cost-effective solutions across the payments value chain. In line with our overall strategy, the deal creates opportunities for us to broaden our service offerings and provides us a unique position to drive growth and innovation in the Indian payments landscape.”

Dayle de Souza, Managing Director, Writer Business Services, said “Over the last two decades, Writer Corporation has created a rich legacy in the Cash Management Business through pioneering technologies, operational efficiencies and superior risk management practices. As one of the founding members of the Cash Logistics Association, the company has played a pivotal role in bringing global standards to the Cash Management industry in India. We are confident that the transfer to Hitachi Payments will bring new possibilities for this business. We will continue to retain and grow the ATM Managed Services business as a part of the overall service portfolio to our corporate clients.”

Hitachi Payments is a pioneer in the payment industry in India, offering a comprehensive range of payment solutions including ATM Services, Cash Recycling Machines, White Label ATMs, POS Solutions, Toll & Transit Solutions, Payment Gateway Solutions and innovative offerings such as SoftPOS, POS Value Added Services and next-gen mobile based merchant platform enabling end-to-end services. The company is committed to delivering exceptional customer experiences and driving financial inclusion across India.

Completion of the acquisition is subject to customary closing conditions.

About Hitachi Payment Services Pvt. Ltd.

A 100% subsidiary of Hitachi Ltd., Hitachi Payments is an integrated payment solutions provider empowering financial institutions, payment aggregators and fintechs with a comprehensive array of end-to-end payment solutions focused on security, reliability and innovation. A pioneer in the Indian payments space, it has over 66,000 ATMs (including 27,500 Cash Recycling Machines) and 9,300 White Label ATMs under management. In addition, it caters to over 3 Mn merchant touch points and processes over 7 Mn digital transactions daily.

For more information on Hitachi Payments, visit the company's website at https://www.hitachi-payments.com

About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the business structure of "Digital Systems & Services" - supporting our customers' digital transformation; "Green Energy & Mobility" - contributing to a decarbonized society through energy and railway systems, and "Connective Industries" - connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company's consolidated revenues for fiscal year 2022 (ended March 31, 2023) totalled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide.

For more information on Hitachi, please visit the company's website at https://www.hitachi.com

About Writer Group

Writer Corporation is a multi-business enterprise operating in Global Relocations, Information Management, ATM & Cash Management, Hospitality, Lifestyle and Premium Real Estate. It was founded in the year 1953. It has its presence in India, Middle-East, UK, Africa and Singapore. Headquartered in Mumbai, the Writer Group employs 15,000+ people globally, operating with a single goal to consistently meet and exceed our customers’ expectations through premium quality services. Imagination and innovation have been the hallmark of Writer, which has helped align its service capabilities with the evolving needs of corporates and individuals across the world. The organization has established a reputation of superior quality within Relocations, Information Management, Cash Management, Lifestyle and Premium Real Estate.

For more information on Writer Corporation, visit the company website at https://www.writercorporation.com

Ashok Leyland Embarks On ‘Manzil ka Safar’ Stallion Drive From Kanyakumari To Leh To Commemorate Its 75th Year Anniversary

Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer today commenced the ‘Manzil ka Safar’ Stallion Drive from Kanyakumari to Leh. This drive, started on the Kargil Vijay Diwas is a part of the celebrations to mark the momentous occasion of the company’s 75th year anniversary.

‘Manzil ka Safar’, a tribute to Ashok Leyland's iconic Stallion range of vehicles and its association with the Indian armed forces, kicked off from the southernmost tip of India, Kanyakumari. The expedition will traverse through diverse terrains, challenging mountain passes, and breathtaking landscapes, culminating in the arduous region of Leh. The journey, will cover 4000 kilometers and will represent the endurance, power, and reliability that have become synonymous with Ashok Leyland vehicles.

Mr. Shenu Agarwal, MD and CEO, Ashok Leyland said, “As we commemorate our 75th anniversary, we set out on this journey in honor of the long-standing association with the Indian Armed Forces. The Stallion Drive from Kanyakumari to Leh embodies our commitment to the Indian army. We are proud of our association and we will continue to be relentless in our efforts to break barriers, overcome obstacles and be a trusted partner."

Mr. Amandeep Singh, President LCV, International Operations, Defense & Power Solutions, Ashok Leyland said, “The drive from Kanyakumari to Leh is a symbolic journey of resilience, strength, and unshakable commitment. As Ashok Leyland embarks on the 'Manzil ka Safar' Stallion Drive, commemorating 75 years of excellence and our long association with the Indian Army, we forge ahead, embodying the spirit of progress and nation-building. This drive sums up our shared legacy, where the road signifies both, the path we travel and the unity that propels us forward. Let this journey stand as a testament to our firm dedication to serving the Indian Armed Forces.”

Over the years, Ashok Leyland has played a crucial role in meeting the mobility requirements of the Indian Army, providing them with reliable vehicles for various operations. The company's unwavering commitment to supporting the defence forces is evident through its development of specialized vehicles tailored to meet the army's unique demands.

Ashok Leyland and the Indian Army share a deep-rooted and enduring association that reflects a strong commitment on both sides. This association is built on Ashok Leyland's steadfast dedication to meeting the mobility requirements of the Indian Army and exemplifies the company's steadfast dedication to serving the nation's defence needs.

During the drive, Ashok Leyland will engage with army veterans, automotive enthusiasts, the general public, and other stakeholders sharing stories of resilience, innovation, and the successful partnership with the Indian Army.

The Stallion Drive promises to be an unforgettable experience, encapsulating the spirit of Ashok Leyland's journey.

The three Stallion trucks display the three terrains that the Stallion has championed for the Indian Army—forests, deserts, and mountains—as they travel over Indian roadways. The first truck will highlight the long-standing relationship of Ashok Leyland with the Indian Army over the years, while the second truck will pay tribute and salute the Kargil veterans, the third truck will salute the army’s brave hearts and showcase prestigious honors bestowed upon Indian Army personnel to recognize acts of exceptional bravery, valor, and sacrifice.

The Stallion forms the logistical backbone of the Indian Armed Forces, with over 75,000 Stallions used by the Indian Army. In the Kargil War of 1999, Stallion played a crucial role, by carrying battalions of troops to the frontline reliably. Furthermore, it transported the frontline with the essential supplies of ammunition and food.

To stay updated on ‘Manzil ka Safar’ and join the conversation, follow Ashok Leyland's social media handles or visit the company’s website: www.ashokleyland.com. 

Photo caption: (From L to R): Major General V.D.I. Devavaram; Hony. Captain Shri Yogendra Singh Yadav, Param Vir Chakra; Mr. Amandeep Singh, President – President LCV, International Operations, Defense & Power Solutions, Ashok Leyland; and Col Rajneesh Kacker, SM - Head Defence Sales Marketing, Ashok Leyland flagging off the ‘Manzil ka Safar’ Stallion Drive from Kanyakumari to Leh to Commemorate Ashok Leyland’s 75th Year Anniversary.

ONGC Takes Lead In Implementing Government’s Vivad Se Vishwas-2 Scheme To Fast-Track Contractual Dispute Resolution

Oil and Natural Gas Corporation Limited (ONGC), has taken the lead in implementing Government’s one-time settlement scheme ‘Vivad se Vishwas – 2’, to fast-track resolution of contractual disputes. ONGC has constituted an internal task force to settle such issues.

The settlement criteria under the scheme is defined as 85% of net amount to be awarded where court order is passed on or before 30 April 2023; 65% of the net amount to be awarded where arbitral award is passed on or before 31 January 2023.

Vivad se Vishwas - 2 is a one-time settlement scheme announced by the government to settle pending contractual disputes. Application for settlement are to be made by the contractors through the GeM portal. The Scheme is valid during 15 July to 31 October 2023.

Energy major ONGC has taken many pioneering initiatives to forge strong and transparent relations with its business partners. ONGC was the first in India to adopt the Integrity Pact (IP) by Transparency International in 2005. Recently, ONGC has become the first PSU in India to get certified for Anti-Bribery Management System (ABMS) by M/s InterCert, USA.

Indira IVF Pledges Training 300 Embryologists & 350 Fertility Specialists On World IVF Day

Indira IVF, India’s largest chain of infertility treatments hospitals, pledges to train 300 and 350 embryologists and fertility specialists, respectively, needed by 2028. This initiative has been taken up to match the demand and supply gap for such professionals in the future, owing to the increase in the requirement of assisted reproductive technology (ART) treatments in the next five years.

At present, India has roughly 1,350 trained embryologists whereas the demand was for 2,800 in FY23 as per estimates considering 1 embryologist per 100 cycles. In terms of fertility specialists, India has 1,950 gynaecologists that perform IVF treatment whereas the industry will need an approximate 3000 in the coming years. Estimates suggest that there are 40,000 gynaecologists in India in 2023.

Speaking on the initiative, Dr Nitiz Murdia – Managing Director and Co-Founder of Indira IVF said, “The infertility treatment sector in India is currently on a growth path. In India alone, an estimated 280,000 IVF cycles have been performed in FY23; this number is expected to notch as high as 5,20,000 IVF cycles in FY28. This calls for a clear demand for trained professionals – both embryologists and fertility specialists – who can ensure patient satisfaction with the best possible outcomes. We would need approximately 6,250 embryologists and 3000 gynaecologists performing IVF by 2028 to meet the increasing demand, which is 4-5x and 1.5-2x respectively of the current demand.”

Dr Kshitiz Murdia – CEO & Co-Founder of Indira IVF added, “The Indian infertility treatment industry can strategically match the demand of embryologists and fertility specialists through effective targeting and training. For instance, India currently has over 35,000 gynaecologists who can be trained to become specialists while leveraging post-graduate students in life sciences and clinical embryology to become expert embryologists.”

“Thus far, we have already trained 150+ andrology technicians, 200+ embryologists and 350+ fertility specialists at our state-of-the-art training centre in Udaipur, Indira Fertility Academy. The Academy has access to world-renowned scholars and educators from the fertility treatment world and beyond, bringing together inspiring faculties from across the globe to train learners in IVF. The laboratory is equipped with cloud-based simulator that takes the learner through 1,500 modules and varied scenarios, equipping them to navigate real-life scenarios just like an expert with 10 years of experience would," Dr Kshitiz Murdia added.

Indira Fertility Academy (IFA) is the academic wing of Indira IVF, set up with a vision to develop and groom talent for infertility treatment. The Academy is based in Udaipur, Rajasthan and is recognised by Merck Foundation and British Fertility Society. In addition to training talent from India, students from countries in Africa, from Philippines, Sri Lanka, Nepal, Bangladesh, and other South-East Asian countries, gain knowledge and experience with the Academy’s hands-on training approach.

About Indira IVF

Indira IVF is India’s largest infertility speciality clinics chain with 116 centres across the country, supported by a passionate workforce of over 2,400 people. Indira IVF has performed about 40,000+ IVF procedures in a year – the highest number in the country.

As a responsible leader, Indira IVF constantly strives to dispel the stigma, taboo, myths and misinformation about infertility. Indira IVF is also committed to developing and grooming talent for fertility treatments. Through the Indira Fertility Academy it collaborates with like-minded organisations and institutions to further this cause. Having perceived the potential of Indira IVF in the sector, TA Associates, a leading global equity firm from the U.S., invested in the organisation in 2019.

Indira IVF was founded in the year 2011 in Udaipur, Rajasthan by Dr Ajay Murdia.

For more information log onto https://www.indiraivf.com/

ALLENites Secured 1 Gold And 3 Silver Medals In International Chemistry Olympiad (IChO)

* Krish secured a Gold medal, while Aditi, Avneesh, and Malay secured Silver medals.

ALLENites have once again made India proud by winning medals in International Olympiad. Dr Brajesh Maheshwari, Director of Allen Career Institute Private Limited, said The 55th IChO-International Chemistry Olympiad 2023 was held in Zurich - Switzerland, from 16 - 25 July 2023.

In the final round of this Olympiad, a team of four students represented India; all were Allenites. Allen classroom student Krish Shrivastav won the Gold medal. Similarly, classroom students Aditi Singh, Avneesh Bansal, and Malay Kedia secured the Silver medals. This Olympiad witnessed the participation of 348 students from 87 countries in its four rounds.

Maheshwari informed that after the first stage of the International Chemistry Olympiad (IChO), which is the National Standard Examination in Chemistry (NSEC), 77 students from ALLEN were selected to proceed to the second stage, the Indian National Chemistry Olympiad (INChO).

After that, the selection of 13 students was made in the third stage, which was the Orientation-cum-Selection Camp (OCSC). In this camp, the top four students were chosen based on written and practical examinations to represent the Indian team in the International Chemistry Olympiad (IChO). It is noteworthy that all the students in this team were from ALLEN.

Shingles Vaccine Reduces Risk Of Stroke And Heart Attack From Virus, Study Suggests

Getting vaccinated against shingles could significantly reduce the risk of suffering a stroke or heart attack from the virus, a new study has found.

Shingles is caused by the same virus, varicella zoster, that causes chicken pox. People who get chicken pox can develop shingles later in life if the virus becomes active again.

“Shingles results in a painful skin rash, but we also know there’s an increased risk of having a stroke or heart attack in the first month after the virus is reactivated,” said James Mbinta, the study’s lead author and a PhD candidate in the School of Health at Te Herenga Waka—Victoria University of Wellington.

The risk of stroke is two to three times higher if the virus reoccurs in the opthalmic nerve—a sensory nerve in the face.

“The results of our study suggest the shingles vaccine offers a large protective effect against both stroke and heart attack in the first 42 days after vaccination,” Mbinta said.

In the study, researchers compared the number of people hospitalised in the first 42 days after getting the shingles vaccine—the ‘at-risk’ period—with the number hospitalised between 72 and 162 days after vaccination. The latter time frame was used as the ‘control’ period, which provides a baseline for comparison.

“We found twice as many people (761) were hospitalised in the control period than in the first month following vaccination (321). These results suggest the vaccine may reduce the risk of stroke and heart attack by as much as 50 percent in the first 42 days,” Mbinta said.

Results are based on analysis of data from 278,375 adults in New Zealand who got the vaccine between April 2018 and July 2021. Most were aged 70 or older.

Co-author Professor Colin Simpson, an associate dean at the University’s Faculty of Health, said the findings add to evidence showing vaccination reduces the chances by ending up in hospital as a result of the virus.

“The results are consistent with research in Australia that found a reduced risk of stroke after vaccination among adults aged 70 to 79,” Professor Simpson said.

Previous research led by Mbinta found the shingles vaccine also significantly reduced the risk of being hospitalised with postherpetic neuralgia, a complication of the shingles virus that can cause debilitating pain.

About one in three people will get shingles during their lifetime. The likelihood increases with age. Half of those aged 85 or over are expected to get shingles.

Notes to Editors:

About Education New Zealand (ENZ) https://www.enz.govt.nz/

Education New Zealand Manapou ki te Ao (ENZ) is the government agency responsible for taking New Zealand’s education experiences to the world. ENZ promotes a New Zealand education as one that teaches students to be critical thinkers, problem solvers and lifelong learners, which will help them succeed in their future careers and create a positive impact on the world. In 2019, New Zealand’s education system was ranked first among English-speaking countries and third in the world for delivering a future-focused education (out of 50 economies) by the Economist Intelligence Unit.

With approximately 100 staff in 18 locations around the world, ENZ works closely with New Zealand’s diverse education sector, including schools, English language providers, Private Training Establishments, Institutes of Technology and Polytechnics, universities, and internationally with NZ Inc agencies, Government agencies and education providers to encourage sustainable growth and identify opportunities. 

Dvara KGFS And HDFC Bank Enter Into A Co-Lending Agreement For Micro Business Units In Rural India

Dvara KGFS and HDFC Bank have entered a co-lending partnership aimed at providing business capital to micro business units operating primarily in the unorganized sector. These businesses often face limited access to formal sources of finance. 

Dvara KGFS launched its exclusive Enterprise Loans vertical in 2020, focusing on 3 primary value chains i.e.: grocery, dairy, and agri. To date, the company has assisted numerous beneficiaries with working capital and business growth loans, improving their livelihood generation capabilities and facilitating their inclusion in the Indian economy. 

In line with its ambitious plans for this year's Annual Operating Plan (AOP), Dvara KGFS seeks to extend credit to micro businesses across the 10 states that it serves. This collaboration with HDFC Bank will help Dvara KGFS realize its ambitions.  

Mr. LVLN Murty, MD, and CEO of Dvara KGFS expressed his enthusiasm about the partnership, stating, "We are excited to join forces with one of the largest and leading financial institutions in the country. This engagement will enhance our capabilities in empowering micro businesses operating in rural areas." 

Mr. K. Venkatesh, Executive Vice President and Business Head, Sustainable Livelihood Initiative, HDFC Bank said, “At HDFC Bank, our aim has always been to provide ease in accessing credit and finance. In this pursuit, we are happy to partner with Dvara KGFS which will serve to increase the credit flow to the under penetrated areas and encourage the beneficiaries to become self-reliant”.  

The co-lending form of collaboration is seeing good traction and demand in recent times and this partnership is another indication of this growing trend. The partnership brings to fore the synergies between the two organizations in terms of Dvara KGFS’s strong rural origination capabilities and understanding of rural markets combined with HDFC Bank’s brand, financial strength, and strong risk framework.  

About Dvara KGFS:  

Dvara KGFS, a systematically important NBFC in the Dvara Group regulated by RBI, works with a mission to maximise the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural India. Dvara KGFS has a strong presence in Tamil Nadu, Uttarakhand, Karnataka, Chhattisgarh, Jharkhand and Odisha, spread across 48 Districts with 308 branches and more than 1.1 million enrolled customers.  

Click here to know more: www.dvarakgfs.com