The BMW 220i M Sport Shadow Edition Debuts In Indian Market

Best-in-class performance paired with enhanced sporty appeal.

Blacked Out Kidney Grille and other design features for an even more dynamic look.

Exclusively available in two exciting colour options: Alpine White and newly introduced Skyscraper Grey.

Limited units exclusively available on BMW Online Shop

#BMW #The2 #BMW2GC #ShadowEdition #2Irresistible

The BMW 220i M Sport Shadow Edition has been launched in India today. Locally produced at BMW Group Plant Chennai, the limited edition is exclusively available at the BMW Online shop from today onwards.

The BMW 220i M Sport Shadow Edition is available at an attractive ex-showroom price of INR 46,90,000.

Price prevailing at the time of invoicing will be applicable. Ex-showroom prices inclusive of GST (incl. compensation cess) as applicable but exclude Road Tax, Tax Collected at Source (TCS), RTO statutory taxes/fees, other local tax cess levies and insurance. Price / options are subject to change without prior notice. For further information, contact an authorised BMW dealer. The BMW 2 Series Gran Coupé is available in two exciting colours - Alpine White (non-metallic) and Skyscraper Grey (metallic). The choice of upholstery combinations includes Black and Oyster.

Thanks to BMW India Financial Services, customized and flexible financial solutions are designed as per individual requirements. Customers enjoy great value and complete peace of mind with BMW 360? Finance Plan. It includes attractive monthly instalments, assured buy-back option up to five years, flexible term-end opportunities, and options to upgrade to a new BMW among other benefits.

The BMW 220i M Sport Shadow Edition

Enhanced exterior of the BMW 220i M Sport Shadow Edition provides a distinctive visual appeal with the Blacked-Out Kidney Grille. The standout characteristic is its stretched silhouette, four frameless doors and prominent shoulders with side taper at the C-pillar which gives it a sporty, low and broad-set stance. The newly introduced Adaptive LED Headlights ensure consistent illumination of the road ahead, even when cornering. The Adaptive LED Headlights are also available with M Lights Shadow Line specification with darkened inlays. The All-Black Rear Spoiler adds to the sporty visual appeal of the car. The BMW Floating hub cap features the BMW logo, which remains leveled at all times.

Despite its sporty appearance, the interior is designed to accentuate cabin spaciousness and the driver-focused cockpit with exquisite materials. The Sport Seats with electrical memory function and generous cabin space offer rear passengers an ample kneeroom for greater long-distance comfort. The exclusive Interior trim ‘Illuminated Berlin’ adds to the overall aesthetic feel. The Carbon Gear Selector elevates the feeling of sportiness inside the cabin. The large 430 litres luggage compartment can be expanded by folding down the 40/20/40 split rear seat backrest. The rear seat can be folded down completely to create more space. Ambient Lighting with six dimmable designs creates an atmosphere for every mood.

The car has front-wheel-drive architecture in which the engine is positioned transversely, thereby saving space without compromising on the driving dynamics. To reduce understeering, an ARB technology (actuator contiguous wheel slip limitation system) works in combination with DSC (Driving Stability Control). The BMW Performance Control system increases the stability of the car by targeted braking of the wheels.

BMW TwinPower Turbo petrol engine melds maximum power with exemplary efficiency and offers spontaneous responsiveness even at low engine speeds. The two-litre four-cylinder petrol engine produces best-in-class power output of 190 hp and a maximum torque of 280 Nm at 1350-4600 rpm. The car accelerates from 0 -100 km / hr in just 7.1 seconds.

The eight speed steptronic sport automatic transmission performs smooth, almost imperceptible gearshifts. At any time, in any gear, the transmission collaborates perfectly with the engine, enabling it to develop its full power and efficiency. For even greater driving pleasure, it comes with steering wheel paddle shifters and cruise control with braking function. Using the Driving Experience Control switch, the driver is able to choose between different driving modes to suit the driving conditions - ECO PRO, Comfort and Sport.

A host of BMW ConnectedDrive technologies continue to break the innovation barrier in automotive industry. Modern cockpit concept BMW Live Cockpit Professional includes 3D Navigation, a 12.3 inch digital instrument display behind the steering wheel and a 10.25 inch Control Display. The occupants can operate a number of car functions simply by speaking to their BMW Virtual Assistant. Hands do the talking with BMW Gesture Control that recognizes six pre-defined hand movements for control of a number of functions. The smartphone holder integrated into the centre console allows inductive, Wireless Charging for mobile phones. Parking Assistant with Rear View Camera makes parking in tight spots easier. The Reversing Assistant provides unmatched support in reversing out of a parking spot or through narrow driveways. It keeps a record of the last 50 metres driven and assists by taking over the steering. Wireless Apple CarPlay® ensures seamless smartphone connection with the car to access several functions.

BMW EfficientDynamics includes features such as 8-speed Steptronic Sport Automatic Transmission, Auto Start-Stop, Brake-Energy Regeneration, Electronic Power Steering, 50:50 Weight Distribution and ECO PRO mode in Driving Experience Control.

BMW Safety technologies include six airbags, Attentiveness Assistance, Anti-lock Braking System (ABS) with Brake Assist, ARB technology (actuator contiguous wheel slip limitation system), Dynamic Stability Control (DSC) including Dynamic Traction Control (DTC) and Electronic Differential Lock Control (EDLC), Cornering Brake Control (CBC), electric parking brake with auto hold, side-impact protection, electronic vehicle immobilizer and crash sensors, ISOFIX child seat mounting and integrated emergency spare wheel under the load floor.

Tata Motors’ Subsidiaries - TPEM And TMPV Join Hands With Bajaj Finance, Offers Financing Program For Authorized Passenger And Electric Vehicle Dealers

In a bid to improve options and ease of financing for the dealers, Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) – subsidiaries of Tata Motors, India’s leading automotive manufacturer, have joined hands with Bajaj Finance, part of Bajaj Finserv Ltd., one of India’s leading and most diversified financial services groups, to extend supply chain finance solutions to its passenger and electric vehicle dealers. Through this memorandum of understanding (MoU), the participating companies will come together to leverage Bajaj Finance’s wide reach to help dealers of TMPV and TPEM access funding with minimal collateral.

The MoU for this partnership was signed by Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd. and Mr. Siddhartha Bhatt, Chief Business Officer, Bajaj Finance Ltd.

Commenting on the partnership, Mr. Dhiman Gupta, Chief Financial Officer, Tata Passenger Electric Mobility Ltd. and Director, Tata Motors Passenger Vehicles Ltd., said, “Our dealer partners are integral to our business, and we are happy to actively work towards solutions to help them in ease of doing business. Together, we aim to further grow the market and offer our New Forever portfolio to an increasing set of customers. To that effect, we are excited to partner with Bajaj Finance for this financing program, which will further strengthen the access of our dealer partners to increased working capital.”

Speaking on this partnership, Mr. Anup Saha, Deputy Managing Director, Bajaj Finance Ltd, said, “At Bajaj Finance, we have always strived to provide best-in-class processes by using the India stack for financing solutions that empower both individuals and businesses. Through this financing program, we will arm TMPV and TPEM’s authorized passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market.  We are confident that this collaboration will not only benefit dealers but also contribute to, and enhance the growth of, the automotive industry in India.”

TMPV and TPEM have been pioneering the Indian automotive market with its groundbreaking efforts it both ICE and EV segments. The company’s overarching New Forever philosophy has led to the introduction of segment leading products which are being appreciated by consumers at large.

Bajaj Finance is one of the most diversified NBFCs in India with presence across lending, deposits and payments, serving over 83.64 million customers. As of March 31, 2024, the company’s assets under management stood at Rs 3,30,615 crore.

Digital Connexion And DE-CIX Accelerate Enterprise Digital Transformation In India With High-Speed Connectivity Offerings

 * DE-CIX PoP at MAA10 enhances network performance, simplifies interconnections to network, cloud, and content providers in India and across the world

Digital Connexion, a full spectrum provider of highly-connected and scalable data center, colocation and interconnection solutions, and DE-CIX India, the largest carrier and data center neutral internet exchange (IX) operator in the Indian market, today announced a strategic partnership to provide internet peering and interconnection services to Indian enterprises. As part of this collaboration, DE-CIX has established a new point-of-presence (PoP) at Digital Connexion’s state-of-the-art MAA10 data center in Chennai.

The strategic partnership between DE-CIX and Digital Connexion brings significant benefits to enterprises, cloud and content providers, and internet service providers (ISPs) in the southern India region. Companies hosted at MAA10 can now take advantage of expanded high-speed interconnection capabilities with enhanced network performance, cloud connectivity and internet peering services. DE-CIX’s presence at MAA10 will also address low-latency edge requirements and ensure seamless content delivery to the last mile through a robust footprint of networks. This will empower enterprises to accelerate their digital transformation and elevate the customer experience.

With DE-CIX’s multi-service interconnection platforms, customers can now access a range of services including connectivity to hundreds of local carriers, ISPs, and content and application providers, without having to establish direct, separate connections with each network. With DE-CIX DirectCLOUD, Digital Connexion customers can reach global cloud providers including Microsoft Azure, AWS, Google Cloud, and others through a single point, thereby eliminating direct connection costs. Moreover, MAA10 customers will also have access to a global data center platform through Digital Realty’s PlatformDIGITAL®.

CB Velayuthan, Chief Executive Officer of Digital Connexion said, “With the Indian economy undergoing digitisation across many sectors, the demand for next-generation infrastructure has become paramount. Through our partnership with DE-CIX, we enable this digital transformation in a way that is efficient, dynamic, and well-positioned for future growth. Aligning to our vision of creating a data meeting place for digital communities, this collaboration offers our customers a variety of interconnection services and single-hop direct connectivity to multiple cloud providers, fostering a connected ecosystem.”

Sudhir Kunder, Chief Business Officer of DE-CIX India said, “We are excited to be expanding and adding a great new partner, Digital Connexion. The collaboration offers the market a new and ideal diverse solution, as well as a great place for both enterprises and ISPs to leverage connections to a leading carrier-neutral global data center platform with the most cost-effective and efficient interconnection options available in the market. This partnership will be the fourth PoP for DE-CIX Chennai, which brings the total to 20 PoPs pan India.”

About Digital Connexion: A Brookfield, Jio and Digital Realty Company

Digital Connexion is a joint venture (JV) between Brookfield Asset Management (Brookfield), Reliance Industries Limited and Digital Realty. The company provides the full spectrum of highly connected and scalable data center, colocation and interconnection solutions to meet the critical infrastructure needs of enterprises and digital services companies in India, and brings together enterprises, network service, cloud and IT providers to give customers and partners a key connectivity gateway to Europe, the Middle, East, Africa and Asia. The JV combines the complementary strengths of Jio’s massive digital and connectivity ecosystem in India and tech capabilities with Brookfield, one of the largest owners and operators of critical global infrastructure, and Digital Realty, provider of the world’s largest data center platform enabling customers with access to over 50 metros across 6 continents.

About DE-CIX

DE-CIX India is the Largest Internet Exchange in the country, focusing on providing Premium Interconnection Platform Services and Operating a wide range of Carrier and Data-Center Neutral Exchange, as well as Interconnecting a large number of Internet Service Providers (ISPs), Content Delivery Networks (CDNs), Over The Top (OTT) players, DNS root servers, national and international Telco’s networks, and Social Media Networks in all major metropolitan areas. DE-CIX India is powered by DE-CIX, operator of the World's Largest Internet Exchange in Frankfurt (Germany), with 22 terabits per second of data throughput. DE-CIX India is a Data Centre and Carrier Neutral Internet Exchange with a Nationwide Licence and the only Legally Compliant Service Provider in India.DE-CIX India operates four Internet Exchanges in India, including Mumbai, Delhi, Chennai, and Kolkata.

MAI Labs Unveils MayaaVerse, Bets Big On Immersive Technology

·       MAI Lab introduces an immersive tech platform, embedded with AI, that is set to transform the global creator economy.

MAI Labs, a leader in the deep tech known for its innovative, immersive, and regulatory technologies, proudly announces the launch of MayaaVerse. This state-of-the-art immersive tech platform is embedded with AI and engineered to revolutionize human interactions and creativity within digital realms, offering unparalleled virtual immersion.

According to a report by Mckinsey, the immersive tech domain presents a vast opportunity, projected to generate up to $5 trillion by 2030 across consumer and enterprise applications. With significant investments already pouring in, it is poised to revolutionize both commercial and personal spheres, impacting our lives profoundly.

MAI Labs is backed by global investors who have committed over $17.5 million at a valuation of 250 million so far. Additionally, the next 50 million is being raised at a valuation of half a billion dollars.

"MayaaVerse represents a milestone in MAI Labs' mission to redefine human-computer interaction and unlock creativity within immersive environments. This advancement marks the next stage of interaction—a seamless fusion of the physical and digital worlds. Our goal is to revolutionize the creator economy by offering an innovative platform that empowers creators to develop, collaborate, and monetize their digital content in new and transformative ways using immersive technologies and AI. Given the immense potential we see, we are confident in our decision to make a significant investment in this technological arena,” stated Tapan Sangal, Lead Visionary at MAI Labs.

Key Features of MayaaVerse:

·       Immersive Virtual Reality Technology: Utilizing advanced VR technology and AI, MayaaVerse delivers photorealistic environments that seamlessly merge the digital with the physical world.

·       Render Stream Technology: Our innovative Render Stream Technology allows users to experience photorealistic content without the need for high-end systems. This technology enables the streaming of high-quality virtual environments to any device equipped with basic hardware and internet connectivity, ensuring accessibility and seamless user experiences across a broad range of devices.

·       MAICity: The Heart of MayaaVerse: Situated at the core of MayaaVerse, MAICity is our pioneering realm, covering a vast 100 square kilometers with 17,000 interconnected worlds. This virtual city is crafted true scale with meticulous attention to detail and realism, featuring a variety of spaces such as architectural marvels, universities, retail hubs, educational facilities, and entertainment venues.

MAICity is designed as a dynamic, user-directed environment where each experience is carefully curated, allowing users to navigate and choose their own paths of exploration. This vibrant virtual city embodies our vision of creating the next version of internet, where every interaction is an opportunity for discovery and innovation.

·       Empowerment of Creators: MayaaVerse provides a dynamic platform for creators to showcase, protect, share, and monetize their digital creations, fostering global collaboration and recognition.

·       Diverse Virtual Experiences: MayaaVerse goes beyond dynamic events and retail; it integrates learning and development modules, interactive workshops, meditative interactions, and various immersive experiences that cater to all facets of digital engagement.

As MAI Labs continues to push the boundaries of immersive technology, MayaaVerse stands as a testament to our commitment to innovation and excellence, offering users a glimpse into the future of virtual reality and human experience.

About MayaaVerse:

MayaaVerse is dedicated to delivering more than just a concept—it’s a comprehensive immersive technology platform imbedded with AI, accessible to everyone. By empowering individuals and organizations to create, experience, and monetize in unprecedented digital environments, MayaaVerse is setting new standards in immersive experiences.

About MAI Labs:

MAI Labs is a deep tech company committed to democratizing and empowering users worldwide with accessible, innovative, and cutting-edge technologies. With a presence in the United States, India, Mauritius, Singapore and Dubai, MAI Labs leads a portfolio of ventures including MayaaVerse, MyIPR, and NIFTIQ among others, all dedicated to democratizing access and providing creative, immersive solutions.

Saadiyat Cultural District Abu Dhabi: Is On Track For 2025 Completion, Showcasing Abu Dhabi’sCcommitment To Culture

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has today reaffirmed that Saadiyat Cultural District, along with its cultural institutions, is on track for completion in 2025.

Saadiyat Cultural District is a global platform, emanating from a rich cultural heritage, celebrating traditions, and advancing equitable culture. It is an embodiment of empowerment, showcasing museums, collections, and narratives that celebrate the region’s heritage while promoting a diverse global cultural landscape.

Once completed, the diversity of Saadiyat Cultural District’s institutions will make the district one of the most unique cultural platforms. It is already the home of Louvre Abu Dhabi – the first universal museum in the Arab world – showcasing artworks from different cultures side by side and telling a story of human connections. Since opening in 2017, Louvre Abu Dhabi has welcomed 5 million visitors and is recognised for its breathtaking architecture and its innovative narrative. Nearby, Berklee Abu Dhabi offers music, performing arts and educational programmes throughout the year.

Additionally, Manarat Al Saadiyat serves as a centre for creative artistic expression and is home to two significant initiatives in Abu Dhabi’s cultural calendar: Abu Dhabi Art and Culture Summit Abu Dhabi.

The current construction progress of the soon-to-open institutions in Saadiyat Cultural District stands at 76%. Zayed National Museum, the national museum of the United Arab Emirates, will celebrate the nation’s rich history and culture, as well as honour the legacy of the country’s founding father, the late Sheikh Zayed bin Sultan Al Nahyan. Additionally, teamLab Phenomena Abu Dhabi invites visitors on an ever-changing exploration that will transcend the limits of their imagination.

It will be joined by the Natural History Museum Abu Dhabi, which will include a research and teaching institution that will take visitors on a 13.8 billion-year journey through the story of our universe and our planet. Guggenheim Abu Dhabi will be a museum celebrating art from the 1960s to the present and the most important artistic achievements of our time.

Saadiyat Cultural District pays homage to the legacy of the late Sheikh Zayed, who defined the cultural agenda and unveiled the history of the UAE to the world through archaeological excavations and findings. This legacy began with the establishment of Al Ain Museum, the first museum in the UAE, which opened in 1971. This was followed with the inauguration of the Cultural Foundation in 1981. Sheikh Zayed’s legacy continued to evolve under the guidance of the late Sheikh Khalifa Bin Zayed Al Nahyan. Today, HH Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and HH Sheikh Khaled bin Mohamed bin Zayed, Crown Prince of Abu Dhabi continue to build on that legacy.

HE Mohamed Al Mubarak, Chairman of DCT Abu Dhabi, said: “Culture transcends mere connections; it shapes our very evolution and broadens our perspectives. Here in Abu Dhabi, we embrace this influence, fostering a deep appreciation that resonates throughout our community. Saadiyat Cultural District embodies ‘cultural hope’. The District will convey a message of cultural diversity that will become more powerful over time, creating global connections, inspiring cultural exchange, and fostering new ways of thinking to support the region, the global South and the world. Saadiyat Cultural District is somewhere people can come to learn from the past, understand our present and focus on our future.”

Saadiyat Cultural District is a testament to Abu Dhabi's commitment to preserving heritage while embracing a forward-looking vision. The District invites the world to engage with diverse cultures, fostering dialogue and exchange, and offers a global cultural space that empowers the region and the global south.

DCT Abu Dhabi has also launched a compelling campaign titled ‘Be Moved in a Thousand Ways’, introduced by philanthropist, talk show host and author Oprah Winfrey. The campaign film delivers an inspirational message on the transformative power of culture to unite, inspire, and open minds. Contributors to the campaign include HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi; HE Zaki Anwar Nusseibeh, Cultural Adviser to the President of the UAE and Chancellor of the United Arab Emirates University; HE Noura bint Mohammed Al Kaabi, Minister of State at the Ministry of Foreign Affairs UAE; Lord Norman Foster, Pritzker Architecture Prize-winner and architect of the Zayed National Museum; Mariët Westermann, Director and CEO of the Solomon R. Guggenheim Museum and Foundation, celebrated artists Mohammed Ibrahim, Najat Makki, Afra Al Dhaheri from the UAE; multi award winning Actor, Musician and Entrepreneur Idris Elba OBE; legendary pianist Lang Lang and many more.

About the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi)

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable growth of Abu Dhabi’s culture and tourism sectors and its creative industries, fuelling economic progress and helping to achieve Abu Dhabi’s wider global ambitions.

By working in partnership with the organisations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate effort and investment, deliver innovative solutions, and use the best tools, policies, and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the emirate’s people, heritage and landscape. We work to enhance Abu Dhabi’s status as a place of authenticity, innovation, and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives, and creative thought.

For more information about the Department of Culture and Tourism – Abu Dhabi and Saadiyat Cultural District, please visit: dct.gov.ae; scdabudhabi.ae and abudhabiculture.ae.

About Saadiyat Cultural District

The Saadiyat Cultural District is one of the world’s preeminent global destinations, which brings together diverse culture and fosters knowledge and understanding through its museums, educational and cultural institutions. The anchoring museums of the Saadiyat Cultural District encompass natural history, cultural heritage, and contemporary creative expression, and are places that collectively tell the story of the United Arab Emirates, the world, and the connections that have fostered creativity and innovation for millennia.

The Saadiyat Cultural District is a place of cultural dialogue and a centre for the creation of knowledge, attracting local, regional, and international visitors and making a lasting impact on the world.   

Narayana Health City Advances Cancer Care With Landmark CAR T-Cell Therapy Success

-          Breakthrough CAR T-cell Therapy proves life saving for South India’s first patient

Narayana Health City, Bangalore recently held a press conference to celebrate a remarkable victory against cancer, highlighting the institution's strides in advancing cancer care. Hamza Khan, a 42-year-old man from Bangalore, triumphed over relapsed follicular lymphoma, a cancer of the lymph nodes, following a challenging journey that began in 2020 amidst the COVID-19 pandemic. Notably, Hamza is the first patient in South India to receive the novel CAR T-Cell therapy – a breakthrough in cancer treatment.

Initially diagnosed in 2020, Hamza's condition required multiple rounds of chemotherapy and maintenance with rituximab. Despite these efforts, his cancer relapsed in February 2022, leaving him with few viable treatment options. Standard chemotherapy and an autologous stem cell transplant proved ineffective, and his prognosis worsened following a severe COVID-19 infection.

In September 2022, with traditional therapies failing and his disease progressing, Hamza was considered for cutting-edge immunotherapy known as CAR T-cell therapy, initiated by IMMUNEEL in Bangalore. Under the expert care of Dr. Sharat Damodar, Senior Consultant Haematologist and Head of Adult BMT at Narayana Health City, a team of doctors swiftly administered CAR T therapy in November 2022.

CAR T therapy, or Chimeric Antigen Receptor T-cell therapy, is a ground breaking form of immunotherapy used primarily to treat certain types of cancer, particularly blood cancers like leukemia and lymphoma. The therapy involves modifying a patient’s own T-cells, a type of white blood cell that plays a central role in the immune response, to better recognize and attack cancer cells. Remarkably, Hamza experienced minimal side effects and achieved remission, crossing the significant milestone of one year post-treatment without relapse.

"CAR T-Cell therapy has revolutionized the landscape of cancer treatment, offering a lifeline to patients who have exhausted conventional options," said Dr. Sharat Damodar. "This case exemplifies the potential of CAR T-Cell therapy to provide durable remission in relapsed lymphoma."

Follicular lymphoma is a prevalent yet aggressive form of cancer, often proving resistant to standard therapies. The recent approval of CAR T-Cell therapy by the Drug Controller General of India (DCGI) for commercial use represents a significant advancement, especially for patients with relapsed and refractory cancers.

Grateful for his second chance at life, Hamza Khan expressed his profound gratitude, saying, “Thanks to the expert care, I could undertake the Haj pilgrimage. I have fully recovered because of this innovative intervention and the life-saving therapy that I received.”

This groundbreaking success heralds a new era in cancer treatment, providing hope to countless patients facing relapsed cancers. Narayana Health City is at the forefront of these advancements, ensuring that world-class treatment options are accessible within India.

"We are immensely proud of the strides made in cancer treatment at Narayana Health City," said the Hospital’s Facility Director. "Our commitment to adopting cutting-edge therapies like CAR T-Cell underscores our dedication to offering the best possible care and hope to our patients."

Narayana Health City, Bangalore’s continuous efforts to integrate innovative treatments reflect its mission to lead the way in cancer care, offering patients not only advanced medical solutions but also renewed hope for a healthier future. 

“The Great Indian Wallet” Study By Home Credit India Reveals Surging Confidence In Financial Well-Being

36% respondents showed interest towards using ‘Credit on UPI’ and 11% respondents showed interest in using UPI Lite in near future. However, 83% respondents said they would stop using UPI if the service becomes chargeable.

35% affirmed that they hear/see online financial frauds happening around, 16% have been victims of online fraud, 39% receive hoax calls/messages that are triggered with an intent to commit financial fraud.

In Bengaluru, average personal monthly income stands at 38k in 2024 vi-a-vis 35k in 2023; while fixed monthly expenses stands at 22k in 2024 vi-a-vis 17k in 2023.

When it comes to essential monthly expenses, people in Bengaluru spend the most on grocery (25%), rent (22%), commute (17%), children’s education (23%), medicals (5%), electricity (3%), cooking gas (3%), and mobile (2%).

74% of consumers expect their incomes to increase by next year, and about two-thirds claim that they will be able to save more (66%) and invest more (66%) in the coming year

Home Credit India (HCIN), a local arm of the leading global consumer finance provider, released the second edition of its in-house annual consumer survey – The Great Indian Wallet Study: Consumer behaviour towards key financial aspects.

The Great Indian Wallet study was conducted across 17 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, Pune, Lucknow, Jaipur, Bhopal, Patna, Ranchi, Chandigarh, Dehradun, Ludhiana and Kochi. The sample size was approx. 2500 in the age group of 18-55 years, with an annual income between Rs. 2 lakhs to Rs 5 lakhs.

Speaking on the findings, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said: “The Great Indian Wallet study serves as our compass, guiding us through the intricate landscape of consumer financial behaviour each year. By delving into the underlying behavioural trends, we gain valuable insights into household financial stability and the potential risks associated with technology in financial transactions. This year’s study reflects an upswing in the overall Financial Well-Being among urban and semi-urban consumers due to the strong economic growth, providing a clear insight into consumer sentiments, spending patterns, and saving habits among various demographics and segments.”

As per The Great Indian Wallet study, the Financial Well-Being Index among urban and semi-urban consumers has increased over last year, both in terms of current status and future perception. 52% of the consumers said that their income increased in the current year over last year, while 74% of consumers expects their income to increase by the coming year. About two-thirds claim that they would be able to save more (66%) and invest more (66%) in the coming year. This buoyancy in consumer sentiment is fuelled by the upward growth trajectory in the economy, an increase in earning capacity, and a positive perception of income growth.

Regionwise, in 2024, the average personal monthly income in Bengaluru is 38k, compared to 35k in 2023, while fixed monthly expenses have risen to 22k from 17k. Despite these increased expenses, 88% of respondents were able to save more in 2024, the highest among metros and Tier 2 cities. Essential monthly expenses in Bengaluru are primarily on groceries (25%), rent (22%), children's education (23%), commute (17%), medical expenses (5%), electricity (3%), cooking gas (3%), and mobile bills (2%). Bengaluru, along with Kochi, spends the highest on children's education (23%) and the least on electricity (3%) compared to other metros. Discretionary spending trends include local travel and sightseeing (35%), dining out (18%), movies (14%), fitness (4%), and OTT apps (4%).

Over the last six months, 69% spent on clothes and accessories, 68% on outstation travel, 18% on electronic devices, and 22% on home décor and 33% on home appliances. Financial security concerns are noted, with 35% aware of online frauds, 16% having been victims, and 39% receiving hoax communications. Interest in 'Credit on UPI' is shown by 36%, and 11% are interested in UPI Lite, but 83% would stop using UPI if it became chargeable.

Meanwhile, on national level, the study further shows that the average of Personal Monthly Income in 2024 stands at 35k for Metros and 32k for Tier 1 & 2 cities, showing an increase from 33k (Metros), 30k (Tier 1), and 27k (Tier 2) in 2023. Among Metros and Tier 1 cities, Bangalore, Hyderabad, and Pune emerged as pivotal hubs, offering newer and better prospects for consumers seeking advancement. These cities witness rise in income levels, with Bangalore and Hyderabad leading with incomes 15% and 33% higher than the national average, respectively.

The study also provides an overview of the income and expenses among lower-middle-class individuals in 2024. On average, the personal monthly income of lower-middle-class individuals is around 33K, while monthly expenses stand at 19K in 2024. The growth in income over the past year has kept pace with the increase in expenses.

In terms of Wallet Share, the study revealed that Grocery (26%) and Rent (21%) continues to be the primary expenses dominating the wallet share of the average lower-middle-class Indian. This is followed by Commute (19%), Children’s Education (15%), Medical Expenses (7%), Electricity Bills (6%), Cooking Gas (4%), and Mobile Bills (2%).

As for Discretionary Spends, distinct spending patterns among different demographics could be seen.  Chennai leads in local travel/sightseeing (59%), eating outside (54%) and watching movies outside (55%) when compared to other metros. Lucknow, on the other hand, is the lowest spender on local travel/sightseeing (17%) and eating outside (14%). Chennai also pays the highest rent (29%), while Kolkata and Jaipur pay the lowest (15%). Ahmedabad and Dehradun spend the least on fitness (1%). Bengaluru & Kochi spends the most on children’s education (23%). Dehradun tops in medical expenses (13%) but spends the least on children’s education (10%).

The study also indicates that in the last six months, almost 60% of people had purchased fashion products like apparels and accessories, with Gen Z showing a greater inclination towards purchasing fashion products and electronics.

Household Expenses witness a notable uptick, with an average increase of 6%. In households with more than one earning member, the chief wage earner (CWE) contributes ~80% of the total household expenses, while non-CWE contributes ~20%. In the study, 42% of the women are CWE in their respective households.

In terms of Savings, ~60% of consumers prioritise building a cash reserve to address emergency expenses after covering their monthly fixed expenses. According to the study, Men (62%) outpace Women (50%) in savings. Similarly, Gen Z (68%) demonstrates a stronger inclination towards savings than Millennials (62%) and Gen X (53%). Regionally, consumers from the East exhibits higher savings rates (63%) compared to those from the West (61%), South (59%), and North (59%). Furthermore, metros led in savings, with 62% of urban consumers prioritising savings over Tier 1 (61%) and Tier 2 (54%) cities.

As per the study, one-fifth of consumers; (21%) have been victims of Financial Fraud. Cities such as Delhi, Kolkata, Hyderabad, and Pune report a higher prevalence of financial fraud incidents. Men, Gen Z, and consumers from the North recalled receiving frequent fraudulent calls and messages over the past months. The study also revealed that 19% of consumers store their financial data on their smartphones, while 24% shared such sensitive data with their friends and family, indicating a complacent approach to data security. Interestingly, Women, Gen Z, and residents of the South region exhibit higher levels of complacency in this matter.

In the realm of digital transactions, UPI (Unified Payments Interface) remains a focal point, warranting heightened vigilance and security measures to mitigate the risk of financial fraud. The study indicates that 72% are current users of UPI, with most usage among men, Gen Z, and metro residents. Notably, UPI usage is the highest in Chennai (90%) and lowest in Ahmedabad (58%).

Furthermore, the study shows that 42% of consumers, especially men, Gen Z and Tier 1 consumers, expressed interest towards using Credit on UPI. Interestingly, the reasons to use “Credit on UPI” includes reduced timeframe in taking loans (53%), ease of payments at retail stores (44%), probability of getting better offers (23%), and lesser charges (16%).