Tata Motors And Bandhan Bank Sign MoU To Offer Attractive Commercial Vehicle Financing Solutions

Tata Motors, India's largest commercial vehicle manufacturer, has signed a Memorandum of Understanding (MoU) with Bandhan Bank, one of India’s fastest-growing private sector banks, to offer convenient financing solutions to its commercial vehicle customers. Under this collaboration, Bandhan Bank will offer financing across the entire commercial vehicle portfolio and customers will benefit from the bank’s wide network and specially curated easy repayment plans.

Commenting on this partnership, Mr. Rajesh Kaul, Vice President & Business Head – Trucks, Tata Motors, said, "We are delighted to announce our partnership with Bandhan Bank through this MoU, which represents a major milestone in our commitment to providing seamless financing solutions to our customers. This partnership reflects our commitment to providing accessible and efficient financial solutions, empowering our customers to achieve their business goals with ease. Together, we look forward to driving greater convenience and support for our valued commercial vehicle customers."

Speaking on this announcement, Mr. Santosh Nair, Head, Consumer Lending & Mortgages, Bandhan Bank, said, “Bandhan Bank is pleased to partner with Tata Motors to offer seamless vehicle financing solutions. This association reflects our dedication to serving the diverse financial needs of commercial vehicle customers. We are confident that this collaboration will enable us to extend our reach and provide tailored financing options to support the growth of businesses in the commercial vehicle segment.”

Tata Motors offers extensive range of sub 1-tonne to 55-tonne cargo vehicles and 10-seater to 51-seater mass mobility solutions, ranging in small commercial vehicles and pickups, trucks and buses segments to address the evolving needs of logistics and mass mobility segments. The company ensures unparalleled quality and service commitment through its extensive network of 2500+ touchpoints, manned by trained specialists and backed by easy access to Tata Genuine Parts.

About Tata Motors

Part of the USD 128 billion Tata group, Tata Motors Limited (BSE: 500570 and 570001; NSE: TATAMOTORS and TATAMTRDVR), a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, pick-ups,  trucks, and buses, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market.

Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fueled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations. The company is pioneering India's Electric Vehicle (EV) transition and driving the shift towards sustainable mobility solutions by developing a tailored product strategy, leveraging the synergy between Group companies and playing an active role in liaising with the Government of India in developing the policy framework.

With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors markets its vehicles in Africa, the Middle East, Latin America, Southeast Asia, and the SAARC countries. As of March 31, 2023, Tata Motors’ operations include 88 consolidated subsidiaries, two joint operations, three joint ventures, and numerous equity-accounted associates, including their subsidiaries, over which the company exercises significant influence.

udaanCapital And Saint-Gobain Partner To Promote Channel Financing In The MSME Sector

*  udaanCapital facilitates disbursals of over 170 crores of Working Capital to the distribution network of Saint-Gobain

*   Saint-Gobain preferred udaanCapital as a partner because of quick disbursal, quick turnaround time & low default rate

*   udaanCapital has onboarded 200+ distributors in 20 months 

*   Distributors benefit from collateral-free loans for MSMEs facilitated by udaanCapital 

*   The program extended across 122 cities and 23 states, with a focus on Tier 2, 3, and 4 towns 

udaanCapital, one of India's leading fintech players, today announced that it has facilitated disbursals of over INR 170 crores of working capital to the distribution network of Saint- Gobain Glass Business, a subsidiary of Saint-Gobain, one of the world’s premier glass manufacturers. The disbursals were enabled through a partnership with Saint-Gobain for their distributors and retailers via udaanCapital’s Channel Financing program for Micro, Small, and Medium Enterpises (MSMEs). As part of this collaboration, approximately 200+ distributors of Saint-Gobain have been successfully onboarded by udaanCapital over 20 months, spanning 122 cities and 23 states across India.

Post Covid, brands have been keen to explore solutions that boost the liquidity in their MSME buyer base without building up receivables on their books or taking excessive credit exposure. Saint-Gobain’s core objective while evaluating a channel financing partner was to ensure widespread adoption of the program pan India and a technology enabled solution capable of leveraging their existing cash discount structures for the MSME buyers. udaanCapital emerged as a preferred partner to create a win-win proposition for the brand and their MSME buyers udaanCapital's app seamlessly onboards borrowers and facilitates immediate invoice payments to Saint-Gobain, this fosters cash flow management, boosts sales, and strengthens relationships with channel partners. The program allows access to inventory without upfront payment, facilitating a smooth flow of goods and contributing to business growth.

As more distributors join the financing program, liquidity increases, enabling higher purchases from Saint-Gobain. udaanCapital's customized solution plays a key role in reducing Saint-Gobain's Days Sales Outstanding (DSO), providing buyers with an extended credit period. Additionally, buyers have flexible payment terms or incentives in form of cashback for early payments. The credit limits tied to purchases are reusable upon repayment, further contributing to the overall efficiency of the financial process.

Anand Santhanam, Chief Sales and Marketing Officer, Saint-Gobain India Glass Business, said, “At Saint-Gobain, we believe in true partnership with our customers. One of the best demonstrations of partnership is business growth. Channel Financing and thereby effective working capital management is integral to the business growth of our partners and we believe that our partnership with udaanCapital will foster an environment that nurtures distributors while facilitating the smooth flow of goods throughout the distribution chain. udaanCapital was our preferred partner because they are known for their quick disbursal, fast turnaround time & low default rate. So far, our distributors across 100+ cities have been successfully onboarded to enjoy collateral-free loans, access inventory and sell products without upfront payment." 

Chaitanya Adapa, Head, udaanCapital said, "At udaanCapital, we believe in forging strong partnerships to advance our goal of building next-gen working capital products for India’s trade. Our Saint-Gobain program is a testimony of how we’d want our ideal brand partnerships to look like – thanks to the clarity and commitment that the Saint-Gobain team had in supporting their channel partners. We are very glad to have partnered with them in that journey & are committed to deepening our engagement.”

The introduction of udaanCapital's technology-driven behaviour shaping has accelerated sales for Saint-Gobain, especially among their trade partners. This collaboration aims to empower MSMEs across India by transforming the landscape of channel financing.

Mahindra Finance & IBM Collaborate To Drive Financial Inclusion With Super App

·       Super app to be built as a 24x7 single digital gateway for consumers from across India to all Mahindra Finance businesses

·       By leveraging IBM’s consulting, industry & technology expertise, app to be a strategic growth lever for both vehicle and non-vehicle financial businesses of Mahindra Finance

IBM (NYSE: IBM) and Mahindra & Mahindra Financial Services Limited (Mahindra Finance) today announced a strategic collaboration to build a super app that would serve as a single digital interface for consumers to access multiple businesses within Mahindra Finance.

This app will enable consumers from both metros and non-metros to have 24x7 digital access to avail and manage products & solutions in a secure, streamlined, and simple manner. This would be by housing Mahindra Finance’s various vehicle and non-vehicle lending businesses, including personal loans, enterprise loans, mortgage loans, leasing solutions, payments, fixed deposits, insurance solutions, and other investment & wealth management solutions under one roof. The app will further provide superior and immersive experiences to the customers of Mahindra Finance and strengthen the company’s position as the financial solutions partner of choice for emerging India.

Speaking on the development, Raul Rebello, MD & CEO-Designate, Mahindra Finance said, “We at Mahindra Finance are keen to accelerate delivery of our digital financial solutions to better serve our customers. The super app is a strategic lever that will expedite growth of key businesses in an operationally efficient manner that combines omnichannel capabilities. It will also empower us to create hyper-personalised solutions for emerging India”. 

“Super apps have the potential to bring a paradigm shift in the financial services industry, enabling significantly superior customer engagement and unleashing new business models,” said Rishi Aurora, Managing Partner, IBM Consulting India & South Asia. “Having worked with multiple financial organizations that are in different stages of their growth journeys in India and across the world, we are happy to collaborate with Mahindra Finance in their endeavor to build a seamless digital journey. Leveraging future-ready hybrid cloud capabilities, the super app will help Mahindra Finance move up the value chain through unique differentiated customer experiences.”

IBM Consulting will leverage human-centred design methodology to enhance the super app experience, covering every stage of the customer journey. This approach will involve integrating deep understanding of Mahindra Finance’s customer needs with superior application UI design to offer an experience that creates customer value as well as unlocks business value for the company. At the foundation level, IBM Consulting will bring cloud transformation and cloud management expertise to help design a secure, scalable, and resilient digital platform architecture to be deployed on a hybrid multi-cloud environment that will enable easy integration of new technologies in future, including generative AI.

About Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 9.8 million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has 1,369 offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country.

Mahindra Finance has been ranked 59th among India’s Best Companies to Work 2023 by Great Place to Work Institute.

Mahindra Insurance Brokers Limited (MIBL) a wholly owned subsidiary, is the Company's Insurance Broking subsidiary is a licensed Composite Broker providing Direct and Reinsurance broking services.

Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.

Mahindra Finance CSR Foundation is a wholly owned subsidiary company, under the provisions of section 8 of the Companies Act, 2013 for undertaking the CSR activities of the Company and its subsidiaries.

Mahindra Manulife Investment Management Private Limited acts as the Investment Manager of Mahindra Manulife Mutual Fund.

Mahindra Manulife Trustee Private Limited (MMTPL), acts as a Trustee to Mahindra Manulife Mutual Fund.

Mahindra Ideal Finance Limited (MIFL) is a subsidiary of the Company in Sri Lanka, in which the Company owns 58.2% stake. MIFL focuses on providing a diversified suite of financial services to the Sri Lankan market.

The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra vehicles in the US.

Learn more about Mahindra Finance on www.mahindrafinance.com / Twitter and Facebook:

@MahindraFin 

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

About IBM Consulting

IBM Consulting helps accelerate business transformation for our clients through hybrid cloud and AI technologies, leveraging our open ecosystem of partners. With deep industry and business expertise spanning strategy, experience design, technology, and operations, we have become a trusted partner to the world's most innovative and valuable companies, helping them modernize and secure their most complex systems. Our 160,000 consultants embrace an open way of working and apply our proven co-creation method, IBM Garage, to scale ideas into outcomes. As the only major global systems integrator inside a technology company, we don't just advise – we invent and build what's next together with our clients. Find out more at IBM.com/consulting.

Finolex Cables Announced Results For Q3 Of Financial Year 2023-24

Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors approved results for the third quarter of the financial year 2023-24.

Revenues for the quarter ended December 2023 were Rs. 1221.7 Cr as against Rs.1150.3 Cr for the corresponding period in year 2022-23, representing a 6% growth in value terms. Volumes of Electrical Cables segment improved by 8% - with visible improvement in construction activity, it is expected that volumes will improve in the coming quarters. Within Communication Cables segment, volume of Optic Fiber Cable decreased - the tender for the Govt sponsored Bharatnet project has been delayed and is now expected to be floated toward end Feb24 with possible decisions two to three months post tender floatation; further procurement by private telecom operators has also been slow as they seem to be concentrating on operationalizing the initial phase of their 5G rollouts as well delay in procurement process. Volume growth in new products within the Appliance/FMEG (except Fans) sector was higher than 20%, but pricing was under pressure.

Revenues for the nine-month period ended December 2023 were Rs.3613.4 Cr as against Rs.3256.8 Cr for the corresponding period of 2022-23, representing an 11% growth in value terms. In volume terms, Electrical Cable segment improved by 14%, while within Communication Cables segment, volume of metal-based products improved by 4% while Optic Fiber Cable volumes were lower than previous year due to reasons mentioned above.

Profit for the quarter, before taxes, was Rs. 166.9 Cr, as compared to Rs.163.0 Cr in the previous year. Profit, before taxes, for the nine months ended December 2023 was Rs.556.7 Cr as against Rs.472.5 Cr in the corresponding period of 2022-23, higher by 18%.

The Capex program announced earlier is progressing well- the first of the E-Beam equipment is expected by end Feb 24 and is expected to be operational by April 24. As regards the Preform project, factory construction is expected to be completed by April/May 24 after which equipment installation will take place - as earlier advised, equipment is expected to be operationalized in Q3/04 of 2024-25.

Samsung Opens Pre-Reserve For Galaxy Book4 Series In India

Samsung, India’s largest consumer electronics brand, today said that consumers can start pre-reserving Galaxy Book4 series in India from today. Pre-reserved customers will be eligible for early access and special offers on purchasing the Galaxy Book 4 Series.

Customers can pre-reserve Galaxy Book4 series by paying a token amount of INR 1999 across Samsung.com, Samsung Exclusive Stores, leading retail outlets and select online portals. Consumers who pre-reserve will get benefit worth INR 5000 on the purchase of their Galaxy Book4 device. 

The Galaxy Book4 series comes with a new intelligent processor, a more vivid and interactive display and a robust security system, beginning a new era of AI PCs that offers ultimate productivity, mobility and connectivity. These enhancements not only improve the device itself but also elevate the entire Samsung Galaxy ecosystem, advancing the PC category and accelerating Samsung’s vision of AI innovation — for both today and tomorrow.

Toyota Hilux Brings More Excitement To 2nd Round of Dirt Bike Race Held In Ahmedabad

Last year June, Toyota Kirloskar Motor (TKM) proudly announced its collaboration with Indian Supercross Racing League (ISRL), with its iconic Hilux being the official vehicle partner. This ISRL marks the world's first franchise-based supercross racing league in India. This year, the league has organized a three-round season that kicked-off with its first dirt bike racing that concluded in Pune during Jan 2024. Following this, the second leg of the ISRL season was held at Trans Stadia in Ahmedabad on Feb 11th, 2024. The partnership between TKM and ISRL continues to create unforgettable experiences, captivating audiences and setting new standards for motorsports and automobile enthusiasts in the country.

Globally, Toyota has a strong history in motorsports, dates back more than 60 years, associating and competing in various prominent motorsport events such as the World Rally Championship, Dakar Rally, World Endurance Championship and so forth. Toyota's motorsport divisions namely Toyota Racing Development (TRD) and Toyota Gazoo Racing (TGR) have a legacy in racing that has led to expanded knowledge and the development of ever-better cars over the years. Toyota strongly believes that ‘everyone has a racer inside and being part of the team means playing a role in building something greater and making history together’.

The Hilux, aimed at elevating the excitement of the ISRL spectators, delivered breathtaking off-roading performances on intricately designed rough tracks with various obstacles, including articulation, side-inclines, steep hill ascents and descents. The Hilux, celebrated for its outstanding off-roading prowess, was prominently displayed at three strategic locations across the event areas. The official ceremony, leading to the start of the race, featured Toyota Hilux, loaded with dirt bikes making a grand entrance, and showcasing its unique strengths on the supercross tracks, bringing immense joy to the stadium's onlookers.

The high-energy, off-road, in-stadium supercross league unfolded on a specially constructed dirt track, featuring steep jumps and obstacles, with renowned riders from both the Indian and global arenas. Adding an extra layer of excitement to the racing spectacle, the Toyota Hilux, an ideal vehicle partner boasting 4x4 drive capabilities, delivered an eye-catching performance for the audience with its curated acts. Furthermore, the iconic Hilux also catered to the essential needs of the ISRL teams, and the officials required for conducting the exhilarating dirt bike race. ISRL’s second league was graced by the presence of Hon’ble Chief Minister of Gujarat, Shri. Bhupendra Patel Ji, along with Mr. Veer Patel, Mr. Eeshan Lokhande, and Mr. Aashwin Lokhande, Co-founders and Directors of the CEAT Indian Supercross Racing League.

The Indian Supercross Racing League (ISRL) featured six teams, each comprising 8 riders. Professional bikers showcased their skills by navigating challenging off-road setups, completing 11 laps, and showcasing a high-end race of international calibre. The event showcased a diverse range of customized bikes from renowned international brands like Kawasaki, Honda, and KTM, spanning from 85cc to 450cc, including a junior’s category. The racing teams were represented by well-known team owners, which includes BB Racing, BigRock Motorsports, Reise Motorsports, Mohite’s Racing Team, Gujarat TrailBlazers, and SG Speed Racers. The race attracted a crowd of 10,000+ spectators, consisting of avid off-roading enthusiasts and passionate fans from both bike racing and car communities, including Hilux customers.

Speaking on TKM’s partnership with ISRL, Mr. Sabari Manohar, Vice President - Sales-Service-Used Car Business of Toyota Kirloskar Motor, said, “Indian Supercross Racing League embodies excellence in dirt bike sport, and we are thrilled to collaborate with them as the official vehicle partner, engaging iconic Toyota Hilux. Toyota’s commitment to motorsports in India finds a new expression, through this engagement with ISRL. For dirt bike racing, the Hilux remains the ideal choice with its extraordinary off-roading strengths on the dirt tracks, which is key to cater to ISRL’s specific requirements, leading to the successful supercross league.

Post the exciting first season of ISRL which concluded last month, the Hilux yet again emerged as the perfect companion, facilitating the setup of challenging tracks for the second round of the supercross that was held in Ahmedabad. Strongly supported by Hilux’s exceptional offerings, the ISRL’s delivered an extraordinary dirt bike race bringing a lot of fun to the enthusiastic spectators.

The Hilux continues to deliver versatility to our valued customers, seeking an exceptional lifestyle utility vehicle be it for their personal use and or business purposes”, he added.

Sharing his views about the official vehicle partnership with Toyota, Mr. Veer Patel, Director & Co-Founder – Indian Supercross Racing League, said, “It has been an exciting journey for us associating with Toyota Kirloskar Motor as our official vehicle partner - Hilux, for the Indian Supercross Racing League. Toyota Hilux is a perfect fit for our dirt bike racing event. Throughout these two leagues held thus far, the smooth movement of our dirt bikes to the race arena, facilitated by Hilux and its amazing 4X4 demonstrations have contributed to delivering a seamless, high-energy racing spectacle, further creating a good momentum amongst the passionate dirt bike fans. With Toyota's support, we are extremely thrilled to bring a world-class experience to our enthusiastic audience and skilled racers. We are elated with the exhilarating culmination of our second dirt bike race of the three-round season, captivating the hearts of the viewers.

The ISRL will further hold a final round this month which is being planned at Delhi. The official vehicle partner of ISRL, the Toyota Hilux, equipped with unparalleled 4x4 driving capabilities, emerges to bolster the Supercross League. Through this meaningful collaboration, we will continue to entertain the growing motorsports fans across India”.

Last year, TKM rolled-out its uniquely structured off-roading experiential drive with the introduction of the 'Great 4X4 Expedition by Toyota' in India. This initiative served as a platform for 4X4 fans to fully explore the capabilities of their 4x4 SUVs. A series of distinct zonal 4X4 drives were conducted across South, East, West and North regions of India, offering unforgettable experiences for the vibrant 4X4 community, which included other SUV brand owners alongside Toyota customers. Further, this year, Toyota is planning to host yet another exciting ‘Great 4X4 Expedition’ in the northeastern region. Needless to mention, to foster strong connection with sports enthusiasts, TKM’s collaboration with the supercross league stands as an integral part of the company’s expanding motorsport initiatives in the country.

Celebrate Valentine's Day With ORRA's Exquisite Box Set, Handcrafted With Love!

Valentine’s Day marks as a special occasion dedicated to love, romance, and heartfelt gestures. Indulge in the beauty of finely crafted jewellery as you explore ORRA’s Valentines Day Special Box Set, a symbol of affection and admiration.

Valentine's Day embodies the essence of expressing love through gestures that transcend time. It's about cherishing those closest to our hearts with gifts that embody eternity and utmost significance. Among these timeless tokens, diamonds stand as luminous symbol of enduring love and everlasting commitment. Their brilliance mirrors the unbreakable bond shared between our loved ones, promising a relationship that lasts lifetime. Gifting a diamond on Valentine's Day isn't just about the sparkle; it's about encapsulating the depth of emotions in a breath-taking indication.

ORRA Fine Jewellery, renowned for its commitment to superior quality, presents a meticulously curated all-in-one box set. This exquisite set promises diligently crafted design that will captivate the hearts of your beloved ones on this affectionate occasion. Comprising a breath-taking neckpiece, perfectly matched dainty earrings, and an elegant bracelet, this set is the ideal gift for not just your loved ones, but also for yourself. A standout feature of this box set is its unbeatable price of just ?149,999/-, making luxury accessible without compromise. Additionally, one can delve into the enchantment of 2.5 carat solitaire-look earrings, a timeless essential for this love season, and treat yourself and your loved ones to the blend of style and elegance.

Explore the diverse range of offerings, from dazzling diamond neckpieces adorned with coloured stones to intricated solitaire designs. ORRA offers exclusive discounts, special offers for the carefully curated collections now available in-store, promising a sophisticated style statement for every discerning customer.

·       Up to 25% off on diamond jewellery (for a limited period) *

·       0% interest on EMI facilities*

·       100% exchange on old gold*

·       Free Shagun gold coin on diamond jewellery purchase*

*Terms and Conditions apply

Experience the lasting charm and simplicity that define ORRA Fine Jewellery, where each piece is not just an accessory but a symbol of enduring love.

About ORRA:

The journey of a million gazes began in 1888 before it metamorphosed into ORRA. From sculpting and manufacturing diamonds to crafting and retailing the finest diamond and gold jewellery, ORRA has come a long way since its inception. Today, ORRA is one of India's leading diamond jewellery retail chains, having spread its glow with 86 stores in 38 cities and has consistently been at the forefront of design, leadership, and product innovation with 5 global design centres.

Master craftsmen who have inherited the centuries - old legacy of jewellery making, brilliantly cut Belgian diamonds, delicate designs in diamond jewellery, elaborate bridal sets in coloured stones, the 73-facet patented ORRA Crown Star, the one-of-its-kind ORRA store. These are just some of the facets that go into making ORRA - The Finest Diamond Destination.