Provident Launches Deansgate: Manchester Townhouse-Style Residences In Bengaluru

Provident Housing Limited, a leading name in large-scale community development in India, announced the launch of its latest project, Provident Deansgate. Located at IVC Road in Bengaluru, this exclusive development redefines luxury living, seamlessly blending the charm of Manchester townhouse-style architecture with contemporary design.

Sprawling over 15 acres of land, Deansgate offers 288 meticulously designed townhouses, each a masterpiece of architectural finesse. The development features two distinctive configurations of 3 BHK: the Garden Townhouses, spanning 1,900–1,950 sq. ft., and the Terrace Townhouses, ranging from 2,100–2,200 sq. ft.

Mallanna Sasalu, CEO of Provident Housing Limited, said, “Deansgate embodies our dedication to creating spaces that not only exude thoughtful luxury but also prioritise sustainability and customer delight. By incorporating unique design aesthetics, innovation, and technology into this project, we aim to elevate our customers' lifestyles with homes designed for more.”

“This project lays emphasis on open floor plans and a seamless blend of both indoor and outdoor living.

Large windows and glass doors are incorporated into the design to bring in natural light and create a sense of spaciousness. The use of expansive terraces and garden spaces further blurs the boundaries, facilitating a seamless transition between living spaces, much like the Manchester townhouses that we have drawn inspiration from,” he further added.

The redbrick facade, distinguished clock tower, vintage-themed lampposts, English sculptures, Victorian way-finders, picket fencing, and a distinctive chimney feature as the lift shaft exterior facade collectively create an ambience of refined aesthetic.

Deansgate offers residents the luxury of over 25 thoughtfully curated amenities, such as a 12,000 sq. ft. clubhouse, multipurpose hall, gymnasium, badminton and squash courts, a bowling alley, a lap and leisure pool, a football court, a multiplay court, an amphitheatre, a children's play area, a nature trail, etc. The project also boasts 4 acres of lush green spaces, adorned with over 1,550+ trees, symbolising a commitment to nature with the unique concept of ‘five trees per family’.

The project perfectly aligns with the preferences of new-age homebuyers, focusing on sustainability. The development incorporates eco-friendly elements such as solar panels, energy-efficient fixtures, water-saving innovations, and a curated selection of indigenous plants and trees. With sustainable community design at its core, Deansgate offers an unparalleled living experience for those seeking a harmonious fusion of classic elegance and modern convenience.

The project is registered under Karnataka RERA – PRM/KA/RERA/1250/303/PR/041123/006373 and is slated for completion in the next three years.

LAN Passive Components Launched by Finolex Cables. Extends Its LAN Portfolio

Finolex Cables, India’s leading manufacturer of electrical and communication cables announced the introduction of “LAN Passive Components” to its existing business of LAN cables. The product range includes patch cords, information outlet, patch card and faceplates. These are especially useful in places like data centres, IT networks, conference rooms and branch office connections with high-density switches. 

Speaking on the launch, Mr. Mahesh Viswanathan, Dy CEO & CFO, Finolex Cables Ltd. said, “We have decades of experience and immaculate track-record in manufacturing telephone cables, JFTC, signal cables, CCTV cables, LAN cables and Fiber Optic Cables (from 6 cores to 576 cores). The company truly understands how to provide better and smarter solutions for our consumers. The number of structured cabling users, including government agencies, educational bodies, telecommunications companies, financial institutions, retailers and social networking services, are growing in tandem with the rising urbanization rate, thus putting additional strain on the current communication infrastructure. Our LAN offerings will deliver a much-needed solution for the structured cabling industry.” 

India is undergoing a digital revolution driven by the rapidly changing business requirements and increased usage of data for decision making. The Indian government aims to develop 100 smart cities, where the internet of things (IoT) will play a pivotal role. At the same time, the need for intelligent buildings is increasing, as more companies are working to make their campuses and facilities world class, while saving costs and responding to the government’s smart building initiative. Due to the growing need for data transmission systems, particularly in metropolitan areas, the number of telecommunication companies have exploded in recent years. Structured cabling offers the critical support for high-performance and unified communication systems; and hence rapid digitization has become a key trend in the structured cabling market for India. 

Mr. Amit Mathur, President – Sales & Marketing said “Our high performing LAN components surpass industry parameters to meet stringent functionality requirements. We believe our Passive systems are the best option for delivering speed consistently, thus, providing Stress Free Smart Solutions for our customers.” 

In India, demand for high bandwidth has risen as internet penetration has increased. Structured cabling enables high bandwidth that is necessary for commercial operations to run smoothly. This ecosystem has evolved at an exponential rate due to its increased data transfer capability, low cost, and flexibility. 

About Finolex Cables Limited (BSE Code: 500144; NSE Code: FINCABLES) 

Finolex Cables is among India’s leading electrical and telecommunication cable companies. It is rapidly transforming from a manufacturer of wires and cables into an electrical products company, by expanding its product portfolio to market products like lighting, water heaters, fans, switches, switchgear, room heaters and electrical conduits. This reinforces its reputation of offering innovative products that cater to the needs of modern households. 

The company started its operation with the manufacture of PVC-insulated electrical cables for the automobile industry. Besides a wide variety of Wires & Cables, the Company is also manufacturing lighting products, electrical wiring accessories, switchgear, fans, and water heaters. The company has manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Uttarakhand. Finolex Cables is constantly working at introducing innovative technologies and enhancing technical competencies while prioritizing customer requirements, quality, and environmental concerns. 

Union Bank of India Secures 2nd Rank In EASE Reforms

Union Bank of India is ranked 2nd as per the report on EASE Reforms Index for Q1 FY 2023-24 by Indian Banks’ Association (IBA).  

Union Bank of India has been doing well in areas related to enabling various digital and digitally assisted journeys for Customer Convenience, Delivering Excellence in Customer Service with Digital Enablement, Inclusive Near-Home service delivery, Increased adoption of Cloud technologies, Automation and new operating models for Cost and Quality Excellence, Developing People and Enhancing HR operations. 

The performance of Public Sector Banks is measured on four themes under EASE 6.0, in which, Union Bank of India has successfully achieved 1st Rank under the two themes i.e., “Delivering excellence in customer service with digital enablement”, “Developing people and enhancing HR operations” and stood 2nd in two themes i.e. “Digital and analytics- driven business improvement”, “Tech and data enabled capability building. 

Enhanced Access & Service Excellence (EASE) is an initiative by the Department of Financial Services, Ministry of Finance, Government of India’s part of the PSB Reforms Agenda and is currently under its sixth iteration which focuses on “Customer-friendly banking enabled by modern capabilities”.  

Schaeffler AG Published Offer Document For Unsolicited Tender Offer For Vitesco Technologies Group AG

Vitesco Technologies acknowledges that Schaeffler today published the offer document for the unsolicited voluntary public tender offer for Vitesco Technologies. The Executive Board and Supervisory Board of Vitesco Technologies will comprehensively assess the offer document taking into account the interests of all stakeholders and publish a reasoned statement on the offer in due course.

 The Executive Board and the independent Special Committee of the Supervisory Board will determine whether the price offered by Schaeffler is financially adequate for all shareholders. Vitesco Technologies notes that several shareholders have publicly stated that the offered price of €91 per share is inadequate given Vitesco Technologies’ value and attractive growth prospects as an independent company. It is further the intention of the Vitesco Technologies boards to ensure that the success factors of Vitesco Technologies will be maintained and protected in any potential future corporate structure. Vitesco Technologies is therefore in talks with Schaeffler on the parameters of a potential business combination. 

Canara HSBC Life Insurance Launches New Product – GAIN (Guaranteed Assured INcome)

* A limited premium, non-linked, non-participating, individual, life insurance, savings cum protection plan

Canara HSBC Life Insurance has launched a non-linked and non participating product Guaranteed Assured INcome (GAIN) – a life insurance cum savings plan designed to provide financial stability and security to the customers with the flexibility to tailor their coverage period basis the financial requirements and aspirations.

Guaranteed Assured INcome is a new age solution that empowers individuals to secure their alternate income or long term savings and achieve their dreams. Insurance plan comes with three flexible income options, allowing customers to select a period that aligns best with their financial goals.

Guaranteed Assured INcome is a guaranteed regular income stream, ensuring policyholders maintain a stable financial condition. Customers opting for GAIN enjoy flexibility of choosing an income period between 5 to 39 years, aligning with different life stages and income requirements. The plan further accommodates to various budgets of the customers with flexible premium payment terms.

The flexible Option offers three distinct plans to meet customer requirements. Short Term and Long Term Income Options provide parallel income and a lump sum at maturity. The Early Income Option offers immediate income with a final benefit equal to 100% of total premiums.

The plan provides life insurance for family’s financial stability, an alternate savings source for one’s goals, and guarantees a regular income stream with premium return flexibility. GAIN seamlessly combines life insurance and wealth creation, ensuring a family's financial well-being and a secure investment with benefits.

Commenting on the launch of the product, Mr. Akshay Dhand, Appointed Actuary, Canara HSBC Life Insurance says, “Canara HSBC Life Insurance is proud to launch "Guaranteed Assured INcome - GAIN", the name itself  affirms that a customer while opting for the policy stands assured of the guaranteed returns basis their purchase and desired requirements.  The life insurance plan is thoroughly designed to provide families with unmatched financial stability and security in a longer run. GAIN offers guaranteed regular income stream with the flexibility to get the premiums back at the end of policy term.”

About Canara HSBC Life Insurance: 

Established in 2008, Canara HSBC Life Insurance Company Limited is a joint venture promoted by Canara Bank (51 per cent) and HSBC Insurance (Asia Pacific) Holdings Limited (26 per cent). Punjab National Bank is also a shareholder of the Company, holding 23% as an investor. One of the major bancassurance led insurance company with its head office at Gurugram, Harayana and more than 100 branch officer pan India brings together the trust and market knowledge of public and private bank.

For more than 15 years now, the Company sells and services customers though multiple channels and well diversified network of Canara Bank and HSBC located in Tier 1, 2 and 3 cities of the country. The Company has a vast portfolio of life insurance solutions and offers various products across individual and group space comprising of life, health, online term plans, retirement solutions, credit life and employee benefit segments through direct, digital, agency model and direct field force.

With the support of distribution partners, the Company is able to maintain an aggressive growth trajectory since inception. The Company continues to focus and invest in agile and technologically advanced methods of soliciting business, servicing customers and marketing products. With an aim to provide simpler insurance and faster claim process, the Company intends to keep the promises of their customers alive with their “Promises Ka Partner” philosophy.

Fast Facts about the company

MD and CEO – Mr. Anuj Mathur

Shareholders - Canara Bank: 51% and HSBC: 26%, Punjab National Bank: 23%

Products – Online Term Plans, Term Insurance Plans, Savings Plans, Retirement Solutions, Child Insurance Plans and Health Insurance.

Visa Tokenisation Report Forecasts Six Digital Payment Trends In India

Key Highlights:

Underscores the rapid progress India has made, issuing over 560 million tokens in a year

The progress in tokenisation, backed by regulator and payment ecosystem collaboration, signals a secure and connected digital future for India.

Visa’s 300 million tokens is a substantial portion of its over 7.5 billion tokens issued globally[1] and has led to card authorisation rates rising by 4.5%[2] since the introduction of tokenisation

Visa, the global leader in digital payments, unveiled a comprehensive report detailing how tokenisation is driving India's digital economy. The report, "Enabling the Digital Shift: Tokenisation in India’s Economic Landscape", marks one year since the effective date of the RBI’s mandate on tokenization for ecommerce transactions. It underscores the rapid progress India has made, issuing over 560 million tokens within a year[3], including 300 million tokens issued by Visa. This is a substantial portion of its over 7.5 billion tokens issued globally, and leading to card authorisation rates rising by 4.5% since the introduction of tokenisation.

The report provides a comprehensive view of India’s tokenisation journey, considering the perspectives of key stakeholders such as merchants, issuers, and payment processor and identifies six future trends on account of India’s tokenisation success:

Simplified Payments: Tokenisation will make payments much easier including through voice assistants and smart devices that employ augmented and virtual reality.

Revolutionising Commerce: Issuing digital cards will be faster, subscription-based services simpler, and even change the retail experience with grab-and-go stores.

Faster Token Provisioning:  Simplified ways of tokenisation will make the process of moving tokens (digital representation of card information) between the card issuer and destination wallets and website faster and easier

Frictionless Authentication: Tokenisation can be combined with biometric authentication (like fingerprint or facial recognition) to reduce card-related fraud.

Improved B2B Payments: Thanks to tokens, businesses can streamline reconciliation, issue unlimited virtual cards and set transaction spending limits to mitigate risks

Contextual Commerce: By combining tokenisation with social media, users can enjoy a seamless shopping experience right within their favorite platforms.

Shri Vasudevan P, Executive Director, RBI, while commenting on the report, said, “The Visa report provides valuable insights into the transformative role of tokenisation in India's digital payments landscape. As the country pushes towards a digital economy with an increasing volume of transactions, tokenisation has immense potential to further digitise the payment ecosystem. We appreciate the efforts of all ecosystem players, including Visa, in championing tokenisation and highlighting its benefits. With a substantial 560M tokens already in circulation and a fast-paced growth rate, we foresee tokenisation becoming a pivotal force in the evolution of digital payments.”

Sandeep Ghosh, Group Country Manager for India & South Asia at Visa, commented, "The RBI’s visionary policies and supportive regulatory framework have positioned India as a global leader in digital payments. This has catalysed the rapid growth of digital payments and the seamless implementation of innovations like tokenisation. We, at Visa, are proud to have issued over 300M tokens in India and by embracing innovations such as biometric authentication, contactless payments, and integrated commerce solutions, we aim to enhance customer experiences, reduce fraud, and drive the expansion of digital payments."

Insights gathered from an industry survey conducted as part of the report forecast:

Lower data breach risk, fewer frauds, and easier compliance for the industry

Better security, increased trust in digital payments, and improved payment experiences for consumers

Mobile based contactless payments and payments through wearables emerged as top use cases

94% of respondents anticipate reduced data breaches while 88% expect enhanced consumer security going forward

76% predict a rise in contactless payments across devices and merchant categories

As India marches towards a $1 trillion digital economy by 2030[4], the rise in cyberattacks from 0.2 million in 2018 to 1.3 million in 2022[5], necessitates growth, sustainability, and robust consumer protection. The progress in tokenisation, backed by regulator and payment ecosystem collaboration, signals a secure and connected digital future for India.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com. 

SIDBI, Finance Department UT of J&K Entered Into Agreement For Availing of SIDBI Cluster Development Fund For MSME Cluster

Small Industries Development Bank of India (SIDBI) signed Agreement for SIDBI Cluster Development Fund (SCDF) with UT of Jammu & Kashmir to accelerate MSME Cluster infrastructure development in UT of Jammu & Kashmir. SIDBI and UT of J&K partnered for supporting modernization/ upgradation or establishment of infrastructure / development of MSME Cluster related infrastructure in the Jammu & Kashmir region. SCDF would facilitate to augment the low cost, longer repayment funds for holistic coverage of cluster development projects falling under three broad categories viz (1) Industrial and Agri-allied sectors in the MSME eco-space, (2) Social Sector projects in and around MSME clusters and (3) Connectivity to MSME Clusters. The Agreement was signed at office Honorable Lieutenant Governor of Jammu & Kashmir in the august presence of Shri Manoj Sinha, LG UT of J&K and Shri S Ramann, CMD SIDBI. While SIDBI shall facilitate availability of SCDF to enhance infrastructure development of both greenfield (induced clusters) and brownfield clusters, Finance Department, Jammu & Kashmir would act as nodal agency to coordinate and submit the proposals to be considered under SCDF.  

On this occasion Shri Sivasubramanian Ramann, Chairman and Managing Director of SIDBI said, “We are poised to be an ever strong and vibrant MSME ecosystem in the country and more so in Jammu and Kashmir. To further strengthen the infrastructure gap, SIDBI join hands with State government and Union Territories and transforming both hard and soft infrastructure shall be mainstay of such collaborations. This structured support will lend impetus to the culture of enterprise development in the Union Territory of Jammu and Kashmir.  

Dr S.S. Acharya, CGM SIDBI while signing the Master Agreement reiterated SIDBI’s commitment for MSMEs and vision to take forward the industrial growth in the country.  We envision that by creating such focused MSME infrastructure development fund, States and Union Territories may improve the ease of doing business and aspire youth to become entrepreneurs and be a job creator than job seeker. 

Shri Santosh D Vaidya, IAS Principal Secretary to Govt., Finance Department expressed happiness at the signing of Agreement with SIDBI and said that “this partnership with SIDBI shall lead to many innovative infrastructure improvement and development in the UT and in overall growth of the entrepreneurship ecosystem in Jammu & Kashmir. It will be an endeavor to build processes and systems with the support of SIDBI to utilize SCDF by key departments supporting MSMEs like Industries and Commerce, Tourism, Power and Skill Development etc.”  

About SIDBI:  

SIDBI is India's principal financial institution in India for promotion, development and financing of Micro, Small, and Medium Enterprises (MSMEs). SIDBI plays a critical role in supporting entrepreneurship, economic growth, and financial inclusion across the nation though various programs like credit guarantee, direct credit, venture capital, digital platforms, government program management, etc. 

For more information, visit:  https://www.sidbi.in/