PNB Announces Financial Results For The Q2 & HY1 FY’25

Punjab National Bank, nation’s leading public sector bank, has announced its Financial Results for the Q2 & HY1 FY’25.

The Bank’s Gross Global Business surpassed Rs 25 Lakh Crore and Return on Assets (RoA) for Quarter crossed 1% Mark.

Net Profit increased Y-o-Y by 145% to Rs 4,303 Crore in Q2 FY’25 as against Rs 1,756 Crore in Q2 FY’24. Return on Assets (RoA) improved to 1.02% in Q2 FY’25 from 0.46% in Q2 FY’24. Return on Equity (RoE) improved to 19.91% in Q2 FY’25 from 10.15% in Q2 FY’24. Net Interest Income (NII) increased to Rs 10,517 Crore in Q2 FY’25 from Rs 9,923 Crore in Q2 FY’24 showing an improvement of 5.99% on Y-o-Y basis. Global Net Interest Margin (NIM) stands at 2.99% in HY1FY’25 and 2.92% in Q2 FY’25. Operating Profit increased Y-o-Y by 10.25% to Rs 6,853 Crore in Q2 FY’25 as against Rs 6,216 Crore in Q2 FY’24.

GNPA ratio improved by 248 bps on Y-o-Y basis to 4.48% as on September’24 from 6.96% as on September’23. NNPA ratio improved by 101 bps on Y-o-Y basis to 0.46% as on September’24 from 1.47% as on September’23. Provision Coverage Ratio (including TWO) improved by 476 bps on Y-o-Y basis to 96.67% as on September’24 from 91.91% as on September’23. Provision Coverage Ratio (Excluding TWO) improved by 1018 bps on Y-o-Y basis to 90.18% as on September’24 from 80.00% as on September’23. Credit Cost improved by 123 bps on Y-o-Y basis to 0.08% in Q2 FY’25 from 1.31% in Q2 FY’24.

Global Business grew by 11.93% on Y-o-Y basis to Rs 25,20,246 Crore as on September’24 from Rs 22,51,631 Crore as on September’23. Global Deposits registered a growth of 11.33% on Y-o-Y basis to Rs 14,58,342 Crore as on September’24 from Rs 13,09,910 Crore as on September’23. Global Advances increased by 12.76% on Y-o-Y basis to Rs 10,61,904 Crore as on September’24 from Rs 9,41,721 Crore as on September’23. RAM Advances grew by 12.03% on Y-o-Y basis to Rs 5,64,049 Crore as on September’24 from Rs 5,03,489 Crore as on September’23. CD Ratio improved to 72.82% as on September’24 as against 71.89% in September’23.

The Business Performance in Key Parameters such as Deposits include Savings Deposits increased to Rs 4,88,635 Crore registering a Y-o-Y growth of 3.7%. Current Deposits increased to Rs 68,104 Crore registering a Y-o-Y growth of 1.6%. CASA Deposits increased to Rs 5,56,739 Crore recording a Y-o-Y growth of 3.4%. CASA Share of the bank stands at 39.31% as on September’24. Total Term Deposit witnessed a growth of 16.8% on Y-o-Y basis to Rs 9,01,603 Crore as on September’24.

In terms of Advances, Total Retail credit increased by 14.6% Y-o-Y to Rs 2,50,149 Crore as on September’24. The bank grew under Core Retail Advances recording a Y-o-Y growth of 19.0%. Within Core Retail Credit - Housing Loan grew by 19.5% Y-o-Y to Rs 1,09,948 Crore and Vehicle loan posted a growth of 25.0% Y-o-Y to reach Rs 22,543 Crore. Agriculture Advances grew by 11.1% on Y-o-Y basis to Rs 1,62,829 Crore. MSME Advances increased Y-o-Y by 8.9% to Rs 1,51,071 Crore.

In terms of Asset Quality, Gross Non-Performing Assets (GNPA) declined by Rs 17,981 Crore to Rs 47,582 Crore as on September’24 from Rs 65,563 Crore as on September’23. Net Non-Performing Assets (NNPA) declined by Rs 8,440 Crore to Rs 4,674 Crore as on September’24 from Rs 13,114 Crore as on September’23.

 In terms of Profitability, Net Profit for HY1FY’25 was at Rs 7,555 Crore recording growth of 150.8% on YoY basis. Operating Profit for HY1FY’25 was at Rs 13,434 Crore recording growth of 10.3% on YoY basis. Net Interest Income for HY1FY’25 was at Rs 20,993 Crore recording growth of 8.1% on YoY basis. Total Income for Q2 FY’25 was at Rs 34,447 Crore and Rs 66,613 Crore for HY1FY’25 recording growth of 17.2% and 14.9%, respectively on YoY basis. Total Interest Income for Q2 FY’25 was at Rs 29,875 Crore and Rs 58,431 Crore for HY1FY’25 recording growth of 13.4% and 13.5%, respectively on YoY basis. Non-interest income for Q2 FY’25 was at Rs 4,572 Crore and Rs 8,182 Crore for HY1FY’25 recording growth of 51.0% and 26.6%, respectively on YoY basis. Total Interest Expenses for Q2 FY’25 was at Rs 19,358 Crore and Rs 37,439 Crore for HY1FY’25, increased by 17.8% and 16.7%, respectively on YoY basis. Operating Expenses for Q2 FY’25 was at Rs 8,235 Crore and Rs 15,740 Crore for HY1FY’25, increased by 22.3% and 14.8%, respectively on YoY basis.

 Core Capital of Rs 5,000 Crore was raised through QIP. 16.6 times subscription - Green Shoe (Rs 2,500 Crore). 68% of the bids received from Foreign Institutional Investors (FIIs), 17% from Mutual Funds (MFs) and 8% from Insurance Co. Number of Shares increased by 48.19 Crores from 1101.10 Crores to 1149.29 Crores. GoI Shareholding remains above 70%. CET/Tier – 1/CRAR increased by ~65 bps.

In terms of Capital Adequacy, CRAR increased to 16.36% as on September’24 from 15.09% as on September’23 registering an improvement of 127 bps. Tier-I Capital was at 13.63% (CET-1 improved to 11.59% as on September’24 from 10.23% as on September’23 and AT-1 improved to 2.04% as on September’24 from 1.79% as on September’23) and Tier-II at 2.73% as on September’24.

In terms of Efficiency/Productivity Ratio, Global Yield on Advances was at 8.31% in Q2FY’25 and 8.32% in HY1 FY’25 as compared to 8.15% in Q2FY’24 and 8.10% in HY1FY’24. Global Cost of Deposits increased YoY by 32 bps to 5.18% in Q2FY’25 and 35 bps to 5.14% for HY1FY’25.Yield on Investment improved YoY by 16 bps to 7.03% in Q2FY’25 and 25 bps to 7.04% for HY1FY’25. Return on Assets (RoA) improved to 0.92% in HY1FY’25 from 0.40% in HY1FY’24. Return on Equity (RoE) improved to 18.20% in HY1FY’25 from 8.82% in HY1FY’24. Business per employee improved to Rs 25.26 Crore as on September’24 from Rs 22.65 Crore as on September’23. Business per branch improved to Rs 240.72 Crore as on September’24 from Rs 217.65 Crore as on September’23. Net profit per employee improved to Rs 17.63 lakh in Q2FY’25 from Rs 7.20 lakh in Q2FY’24. Net profit per branch improved to Rs 168.03 lakh in Q2FY’25 from Rs 69.21 lakh in Q2FY’24.

In terms of Priority Sector Achievement, Priority Sector Advances exceeded the National Goal of 40% and stands at 41.10% of ANBC. Agriculture advances exceeded the National Goal of 18% and stands at18.58% of ANBC. Credit to Small & Marginal Farmers exceeded the National Goal of 10% and stands at 10.36% of ANBC. Credit to Weaker Sections surpassed the National Goal of 12% and stands at 13.89% of ANBC Credit to Micro Enterprises surpassed the National Goal of 7.50% and stands at 8.15% of ANBC.

In terms of Financial Inclusion, PMJDY accounts increased to 5.26 Crore as on September’24 from 4.79 Crore as on September’23. Enrollments under PMJJBY, PMSBY & APY as on September’24

In terms of Bank’s Digital Progress and Initiatives: Number of PNB One Activated users increased to 200 Lakh as on 30.09.2024 from 153 Lakh as on 30.09.2023 registering a growth of 30.7% on Y-o-Y basis. Number of WhatsApp Banking users increased to 43.5 Lakh as on 30.09.2024 from 27.4 Lakh as on 30.09.2023 registering a growth of 58.7% on Y-o-Y basis. Lending through Digital Journeys crossed In terms of Bank’s Digital Progress and Initiatives: Number of PNB One Activated users increased to 200 Lakh as on 30.09.2024 from 153 Lakh as on 30.09.2023 registering a growth of 30.7% on Y-o-Y basis. Number of WhatsApp Banking users increased to 43.5 Lakh as on 30.09.2024 from 27.4 Lakh as on 30.09.2023 registering a growth of 58.7% on Y-o-Y basis. Lending through Digital Journeys crossed ?17,500+ Crore. PNB One Biz (Corporate M-Banking App) launched & 12000+ customers onboarded. Key Initiatives include Disbursement of Loan under e-PM Vishwakarma through CBDC, PNB Loyalty Rewards Program for PNB One app Users, and Download of PPF/SSA Statement through PNB One.

The Bank also received numerous awards and accolades in the quarter including Rajbhasha Kirti Puruskar for 2023-24, by Ministry of Home Affairs, GOI [1st Prize for PNB Pratibha Magazine & 2nd Prize – Overall], Global Fintech Awards 2024 - 1st prize in category of Green Banking initiative of the Year for its PNB One onboarding through Aadhaar by Payment Council of India, NPCI and Fintech Convergence Council (FCC), Recognition for contribution to ambitious 200 GW Energy generation from renewable sources - 3rd Highest Achiever amongst PSBs for maximum loans disbursed to renewable energy sector by Ministry of New and Renewable Energy, Green Ribbon Champions award - Bank’s green initiatives under project PALASH by News18. The bank also received Award of excellence for outstanding performance - 2nd  Best Performing Bank under RAPID campaign under Agriculture Infrastructure fund by Ministry of Agriculture and Farmer Welfare, Best CFO of India – 2024- Shri Dilip Kumar Jain awarded as the “Best CFO of India – Bank (Large Cap Category)” for the year 2024 by Dalal Street Investment Journal, and 2nd ICC Emerging Asia Banking Conclave & Awards, by Indian Chamber of Commerce (ICC) - Best performance on Asset Quality & Profitability.

As on 30th September 2024, the Bank has 10,159 domestic branches and 2 International Branches. Out of total no. of branches, Bank has 63.31% branches in Rural & Semi-Urban areas.Rs 17,500+ Crore. PNB One Biz (Corporate M-Banking App) launched & 12000+ customers onboarded. Key Initiatives include Disbursement of Loan under e-PM Vishwakarma through CBDC, PNB Loyalty Rewards Program for PNB One app Users, and Download of PPF/SSA Statement through PNB One.

The Bank also received numerous awards and accolades in the quarter including Rajbhasha Kirti Puruskar for 2023-24, by Ministry of Home Affairs, GOI [1st Prize for PNB Pratibha Magazine & 2nd Prize – Overall], Global Fintech Awards 2024 - 1st prize in category of Green Banking initiative of the Year for its PNB One onboarding through Aadhaar by Payment Council of India, NPCI and Fintech Convergence Council (FCC), Recognition for contribution to ambitious 200 GW Energy generation from renewable sources - 3rd Highest Achiever amongst PSBs for maximum loans disbursed to renewable energy sector by Ministry of New and Renewable Energy, Green Ribbon Champions award - Bank’s green initiatives under project PALASH by News18. The bank also received Award of excellence for outstanding performance - 2nd  Best Performing Bank under RAPID campaign under Agriculture Infrastructure fund by Ministry of Agriculture and Farmer Welfare, Best CFO of India – 2024- Shri Dilip Kumar Jain awarded as the “Best CFO of India – Bank (Large Cap Category)” for the year 2024 by Dalal Street Investment Journal, and 2nd ICC Emerging Asia Banking Conclave & Awards, by Indian Chamber of Commerce (ICC) - Best performance on Asset Quality & Profitability.

As on 30th September 2024, the Bank has 10,159 domestic branches and 2 International Branches. Out of total no. of branches, Bank has 63.31% branches in Rural & Semi-Urban areas.

The distribution of branches is as under: The bank also has 12,040 ATMs and 33,010 BCs as part of its distribution network making the total number of 55,209 touch points as on 30.09.2024.

Indulge in Festive Treats Without Guilt

With the festive season fast approaching, sweet indulgence is a given. However, for those with diabetes or managing their diabetes, it can feel like a challenge. But here's the good news: you don’t have to give up dessert. It’s about making mindful choices—picking better options and exploring new diabetes-friendly ingredients. By doing so, you keep your blood sugar levels in check and discover a world of healthier, delicious cuisines to enjoy.

Managing Diabetes: It’s Not Just

It's not just sugar intake that impacts your blood sugar levels. It’s important to manage your overall carbohydrate intake as well. Carbohydrates, including sugars, complex carbs, and fiber can significantly affect blood sugar levels. Desserts often contain high levels of simple sugars such as dextrose, fructose, and glucose, which can cause blood sugar spikes. However, there’s more to consider than just avoiding sugar. While sugar substitutes may reduce calories and carbs, they are likely to disrupt healthy gut bacteria, which play a role in hunger and blood sugar regulation.[i]

Eat Your Way to Better Health

Understanding glycaemic index (GI) of foods helps with your food choices. The GI index is a scoring system for foods that tells you how much a food will spike your sugar level. So, the lower the GI index, the healthier the food. Examples of foods with a high GI index that you should eat occasionally and in moderation are simple carbs like ice creams, chocolates, refined flours, sweets etc. These major sources of glucose can do the most harm to your sugar balance.[ii]

“Managing diabetes isn't about depriving yourself—it's about making smart, informed choices,” says Dr. Irfan Shaikh, Associate Medical Director, Abbott’s Nutrition business. He continues “The key to managing blood sugar is finding the right nutrient balance that lowers the glycemic index (GI) of your meals.[iii] By thoughtfully combining ingredients in the right proportions, you can control the GI of your meals and manage your glucose levels more effectively[iv].”

It’s good to include plenty of high fibre (bajra, jowar and raagi), whole-wheat bread, fruits, vegetables and whole legumes (daals). These are must-haves for diabetics, as they balance out your simple carbohydrate intake and help you maintain a normal blood sugar level.[v][vi]

Another highly effective approach to managing carbohydrate intake while still enjoying your favourite platters is through Diabetes-Specific Nutrition (DSN). They are tailored to provide balanced nutrition for individuals with diabetes, helping to control post-meal blood sugar spikes while keeping you energized.

Prof (Dr) L. SREENIVASAMURTHY, Senior Consultant Physician & Diabetologist, Lifecare hospital and Research Centre, Bangalore, opines, “Good nutrition is significant to managing diabetes. Diabetes-specific nutrition (DSN) helps regulate blood sugar and provides essential nutrients at times, lacking in daily meals. Incorporating specialized nutrition drinks can fill critical gaps, ensuring sustained energy and better post-meal glucose control, allowing you to enjoy the festivities without worrying about blood sugar spikes.”

How DSN Helps: Satisfy Your Sweet Tooth Smartly

Diabetes-Specific Nutrition offers a way for diabetics to enjoy sweets without the guilt. DSN products are formulated to be low in glycemic impact, making them ideal for replacing high-carb, sugar-laden desserts. Here are some tips for incorporating DSN and other diabetes-friendly ingredients into your festive treats:

DSN shakes: Instead of sugary milkshakes or smoothies, use a DSN shake mix as a base and blend in diabetes-friendly fruits like berries or figs

Sugar substitutes: Swap out refined sugar for alternatives like artifical sweeteners in moderate amounts

Homemade sweets: When making traditional sweets, replace high-carb ingredients with DSN powder or low-GI flours such as almond or oat flour

Low-GI foods: Replace high-GI foods like basmati rice with brown rice and swap out regular wheat chapati for options like ragi, bajra or jowar bhakri to keep your meals diabetes-friendly[vii]

Delicious, Diabetes-Friendly Dessert Ideas

Transforming popular festive desserts into diabetes-friendly versions is easier than you think. By incorporating Diabetes-Specific Nutrition (DSN) products, such as Ensure Diabetes Care, and low-glycemic ingredients, you can keep the festive spirit alive without affecting your blood sugar control:

Gajar Halwa: Gently simmer grated carrots in milk infused with fragrant cardamom and roasted almonds. Cook until the liquid evaporates, leaving behind a rich, creamy mixture. Garnish with a final sprinkling of toasted almonds for that perfect nutty crunch

Shir Sewain: Toast golden semiya in ghee, then simmer in milk and khoya until it thickens. Add a touch of saffron for color and flavor, and top with nuts for the perfect festive indulgence

Moong Dal Paysam: Slow-cook moong dal and rice together to create a creamy base. Enhance with ghee for richness, and finish with a generous mix of toasted nuts and warm milk for a comforting and nutrient-packed treat. To know more about the delight  click here

Nuts Shrikhand: Transform thickened curd into a cooling treat by mixing in cardamom and a medley of almonds and pistachios. Serve chilled for a nutty, refreshing delight

Enjoying festive season doesn’t have to come at the cost of your health. By making mindful choices, managing your carbohydrate intake, and incorporating Diabetes-Specific Nutrition, you can indulge in sweet treats without guilt. The festive season is about joy and celebration, and with these adjustments, you can savour every moment without worrying about your health. Remember, the key lies in balance and making informed choices that align with your dietary needs. And don't forget to stay active and monitor your sugar levels regularly, even on festive days, to keep your diabetes management on track!

MODIFI And GIDA Partner To Propel Gujarat Exporters In Global Trade

MODIFI, a leading global trade finance platform, in partnership with the Gujarat Industry Development Association (GIDA), successfully hosted "Unlocking Growth Capital for Global Trade." This exclusive event was designed to empower exporters from Gujarat by providing them with vital insights and strategies to optimize their trade operations and improve working capital, fostering growth in the region.

The event provided SMEs and local business leaders with a platform to explore innovative solutions for managing cross-border payments, accessing trade finance, and accelerating global trade opportunities. Through this collaboration, MODIFI and GIDA are committed to helping Gujarat-based exporters thrive in the evolving global economy.

"Gujarat’s dynamic SME ecosystem presents significant opportunities for growth, by addressing their financing and payment challenges, we help them overcome barriers such as access to working capital, smooth payment processing, and effective risk management. MODIFI’s solutions empower them to expand and compete on an international scale," said Mr. Pulkit Kapil, Senior Director - National Sales, MODIFI India.

According to recent media reports, Gujarat boasts over 55,000 SMEs and has consistently ranked among India's leading manufacturing hubs. The state is home to flourishing industries in textiles, pharmaceuticals, and automobiles, contributing significantly to its robust economic landscape. With MODIFI’s expertise in cross-border trade finance and GIDA’s strong local network, the partnership will provide essential support to Gujarat SMEs seeking global expansion.

"Gujarat's SMEs are the backbone of the state's economy, and equipping them with the right tools for global trade is crucial for sustainable growth, our collaboration with MODIFI ensures that Gujarat based exporters have access to vital financial solutions, enabling them to unlock new trade opportunities and enhance their competitiveness in international markets," said Mr. Chandrakant Salunkhe, Founder & President, GIDA.

MODIFI’s focus on Gujarat and India marks a significant step in its global mission to empower SMEs with innovative financial solutions, fostering sustainable growth within the global trade ecosystem.

About MODIFI:

MODIFI is a FinTech platform specializing in B2B cross-border financing and payment solutions. The company removes traditional barriers to global trade by empowering businesses with the modern digital payments tools and financial liquidity needed to compete in global commerce. MODIFI's platform serves more than 1,600 companies across 55+ countries and has a global presence with offices in Mumbai, New Delhi, Dhaka, Dubai, Shenzhen, Hong Kong, Singapore, Amsterdam, Berlin, New York, and Mexico City.

About GIDA

Gujarat Industry Development Association (GIDA) has been providing support services to the manufacturing industries, corporates, MNCs, SMEs, exporters, start-ups and allied business entities to enhance business contacts, business growth, export promotion, setting up of new manufacturing industries, channelise finance and investments, mergers & acquisitions, foreign direct investments, distribution, franchise, joint ventures, technology transfers, contract manufacturing and explore the various emerging business opportunities at the national and international markets. GIDA also provides business advisory services for marketing, promotion, branding, export-import services, Government services & liaison, identification of strategic business partners & investors, market survey & research, industrial land & ready-made industrial premises, resolving various issues related to the industries, revival of sick manufacturing industries & SMEs.

Photo Caption: From Left to Right - Mr Tushar Doara, Marketing Head India, MODIFI, Mr Pulkit Kapil, Sr. Director- National Sale, MODIFI, Mr Chandrakant Salunkhe, Founder & President, GIDA & Mr Ravi Bharati, Managing Partner, Obulus Advisory Services.

Toyota Kirloskar Motor Expands ABCD Program To Benefit 400 Additional Schools In Raichur

Building on the success of its A Behavioural Change Demonstration (ABCD) initiative, Toyota Kirloskar Motor (TKM) is proud to announce the expansion of the program to an additional 400 government schools in Raichur district for Financial Years 2024-25 and 2025-26. After successfully implementing the program in 100 schools over the past two years, positively impacting more than 26,000 students, the initiative will now benefit over 68,000 students in this next phase.

The program’s expansion officially commenced today with a one-day orientation session for the headmasters of the participating schools, held at the Krishi Vigyana Kendra (KVK) in Raichur. The orientation was inaugurated by Mr. Nitish K., IAS, Deputy Commissioner of Raichur, who graced the occasion as Chief Guest. This session was aimed at equipping the headmasters with tools and strategies to effectively deliver the program’s hygiene and sanitation curriculum.

As part of the program, TKM will actively promote essential hygiene practices among students through a series of training sessions that focus on handwashing, sanitation practices, water conservation, waste management, and personal hygiene. Additionally, the program will provide sanitary pads to 24,000 adolescent girls till March 2026. This initiative aims to ensure effective menstrual hygiene management and support young women in their health and well-being, empowering them to take charge of their menstrual health and advocate for their needs. Through this project, essential sanitation supplies, including buckets, mugs, cleaning agents, handwashing soap, and mopping items will be provided to support hygiene maintenance.

Beyond hygiene education, the program aims to strengthen school cabinets and School Development and Monitoring Committees (SDMCs), empower students to advocate for better sanitation, and encourage families to build household toilets where needed. Community engagement will also play a pivotal role, with awareness campaigns, video demonstrations, and annual quiz and drawing competitions to reinforce the lessons learned in schools.

Present at the occasion, Mr. Nitish K, IAS Deputy Commissioner, Raichur, said, “Education today is not just about academic excellence but about nurturing responsible, aware citizens who understand the importance of health and hygiene. The ABCD program by Toyota Kirloskar Motor is a shining example of how private enterprises can meaningfully contribute to community well-being. By teaching essential sanitation and hygiene practices to young minds, the program creates a foundation for healthier, more resilient communities. It’s heartening to see Toyota's commitment to expanding this initiative further into Raichur, reaching thousands of students and families. We look forward to the transformative outcomes this program will bring.”

Speaking on the occasion, Mr. Vikram Gulati, Country Head and Executive Vice President, Corporate Affairs & Governance, Toyota Kirloskar Motor, said, “At Toyota Kirloskar Motor, we believe that true progress is driven by collective responsibility, and our ABCD program stands as a testament to this. The success of our first phase has encouraged us to scale up our efforts and reach an additional 400 schools in Raichur. We remain deeply committed to supporting the Swachh Bharat mission by promoting hygiene education and sustainable practices. Through this expanded initiative, we aim to not only improve sanitation in schools but also foster a culture of awareness and positive change across the community.”

Launched in 2015, the ABCD program has profoundly influenced Karnataka, especially in the Ramanagara district. By 2019, the initiative had reached 1,004 schools, benefiting 58,000 students and positively impacting 430,000 community members. Following its revitalization in August 2023, the program continues to align with the national "Swachh Bharat Abhiyan" mission, contributing to India’s ongoing efforts to improve sanitation and hygiene.

TKM remains steadfast in its commitment to fostering sustainable change through community development initiatives. By collaborating with the Education Department, local authorities, and other key stakeholders, TKM is dedicated to driving long-term improvements in sanitation practices across Raichur district.

Nikon India Inaugurates India’s First Experience Centre Dedicated To Its Healthcare Range

Nikon India Private Ltd., a 100% subsidiary of Nikon Corporation today inaugurated India’s first experience centre dedicated exclusively to the healthcare product range at its headquarters in Gurgaon. The Healthcare Business is one of the largest Business Segments of Nikon Corporation that owes the responsibility to lead a Life Science Market through core Optics and Image analysis technologies.

Nikon has been a significant player in the Indian market for over four decades, primarily through its imaging and precision technologies. With the launch of this healthcare experience centre, Nikon India aims to provide a hands-on experience to healthcare professionals, researchers, and academic institutions to explore and utilize its cutting-edge microscopy solutions. This Experience Centre will also focus on microscopy workshops and trainings for skill development of the latest microscopy technologies in this region.

Speaking at the inauguration, Mr. Sajjan Kumar, Managing Director of Nikon India Pvt. Ltd., said, “Nikon’s century-old legacy in manufacturing microscopes has always set benchmarks for quality and precision. The launch of India’s first experience centre dedicated to healthcare technology reaffirms our commitment to supporting the scientific research and pathological, clinical communities with world-class solutions. This facility will serve as an important touchpoint where professionals can explore and experience our advanced healthcare products firsthand before making informed purchasing decisions. We believe this initiative will help elevate the standards of Scientific research and Pathology across the country.”

The healthcare product range showcased at the experience centre includes Nikon’s flagship Confocal Microscope System AX R with NSPARC, renowned for offering the largest Field of View (25mm) on both inverted and upright microscope. Additionally, it also showcased prominent products like Digital Imaging Microscope ECLIPSE Ui and The Smart Imaging System ECLIPSE Ji.

Nikon expects its healthcare business unit to contribute significantly to its overall business in India with respect to Indian microscopy market. Nikon India is targeting 300% growth of the healthcare business in India by the end of this fiscal year since they started the direct operations on 1 April 2022. 

MoEngage And TimesMobile Join Forces To Transform Customer Engagement

* Strategic Alliance Brings Hyper-Personalized SMS and WhatsApp Solutions to Indian Brands

MoEngage, a leading insights-led customer engagement platform, has announced a strategic partnership with TimesMobile, a prominent CPAAS provider in India. This collaboration aims to enable consumer brands with hyper-personalized customer experiences across two of the most popular communication channels - SMS and WhatsApp Business. TimesMobile joins the MoEngage Catalyst Partner program, designed to help brands scale at speed.

Industry reports indicate that over 75% of Indian consumers prefer WhatsApp for business interactions, while SMS continues to boast an impressive 98% open rate within minutes of receipt. Recognizing the power of these channels, the MoEngage and TimesMobile partnership will help businesses leverage personalized, real-time communication across these platforms, thereby boosting engagement and customer satisfaction. The partnership enables consumer brands to send targeted, contextual messages through SMS and WhatsApp Business. By integrating MoEngage's customer engagement platform with TimesMobile's reliable messaging infrastructure, businesses can ensure that their messages reach customers at the right time on the right channel, thus improving the relevance and impact of communication.

This collaboration offers brands across sectors such as retail, e-commerce, and financial services the ability to deliver personalized messaging at scale, optimizing customer interactions and driving better engagement. The integration ensures that businesses can enhance customer retention, improve conversion rates, and create more meaningful customer relationships.

Sanjay Kupae, Head of Partnerships at MoEngage, said, "At MoEngage, we are constantly innovating to help consumer brands engage with their customers more effectively. This partnership with TimesMobile is a step in the same direction, enabling businesses to leverage key communication channels (SMS and WhatsApp) and drive long-term growth and customer loyalty by delivering actionable insights."

Nitin Chowdhary, Business Head of TimesMobile, added, "We are excited to join hands with MoEngage, a leader in the customer engagement space.This partnership inspires confidence that it will enable brands to elevate their customer engagement efforts and achieve better outcomes."

About MoEngage

MoEngage is an insights-led customer engagement platform built for customer-obsessed marketers and product owners. MoEngage enables hyper-personalization at scale across multiple channels like mobile push, email, in-app, web push, on-site messages, and SMS. More than 1350+ brands across 35 countries use MoEngage to send 50 billion messages to 500 million consumers every month. MoEngage is recognized as a Leader in the 2020 Gartner Magic Quadrant for Mobile Marketing Platforms, a Strong Performer in the 2020 Forrester Wave for Mobile Engagement Automation, and a Leader in G2 for Fall 2020 Grid® Reports for its solutions. MoEngage is also listed in G2's Top 50 Best Marketing Products in the world for 2021.

For more information, visit www.moengage.com.

About TimesMobile

TimesMobile is a leading CPAAS provider in India, offering comprehensive messaging services such as SMS and WhatsApp Business Platform to businesses across industries. Serving over 150+ brands, TimesMobile provides secure and high-volume messaging infrastructure and is a part of the Times Internet ecosystem, helping businesses engage their customers effectively.

For more information, visit www.timesmobile.in.

Phoenix India Light Festival Begins At Phoenix Mall Of Asia: Invites All To step Into A World Of immersive Light And Wonder

* India’s first-of-its-kind interactive light festival to take place from October to December 2024 boosting the festive spirit

Phoenix Mall of Asia, renowned for its unparalleled shopping experience, culinary indulgence and cultural enrichment has proudly commenced the festive celebration today with the unveiling of Phoenix India Light Festival. Designed by Surreal Design Studio, this is the country’s first immersive lighting experience taking place at the heart of Bengaluru; promising to redefine the convergence of art and technology into a mesmerizing, interactive sensory experience, evoking a sense of storytelling, imagination and unbound happiness. The dazzling display of vibrant and interactive lights at the mall’s stunning plaza area, will transform the premises into a magical wonderland from October to December 2024, celebrating the festive spirit.

Marking a significant milestone in India’s cultural celebration, Phoenix India Light Festival (ILF) will display the transformative power of light through the combination of technology and creative brilliance, like never before. ILF will feature a curated collection of interactive light displays—from stunning tunnels of colours to psychedelic visual experiences—each crafted to engage the senses and ignite wonder. The launch of this first edition of India Light Festival during Diwali signifies the power of hope and connection fostered by the festival of light all across the country and ways Phoenix is committed to elevate the experience of its visitors to enjoy the festivities at its fullest and create lasting memories with loved ones.

During the India Light Festival, Phoenix Mall of Asia will be entirely adorned with stunning array of illuminated installations. Each décor element is designed to elevate the experience and create a magical, immersive atmosphere for visitors. At the entrance, visitors are greeted by a monumental metal structure, the Prismatic Pavilion with neon lights and mesmerizing colours and geometry, which would create a dynamic and captivating visual experience from every angle. A centrally positioned ILF lit signage further enhances the visual impact. Followed by this, the Light tunnel decorated with curtain LED string lights will invite visitors to explore deeper into the mall, while blue neon lights illuminate the entrance, adding a touch of mystery and intrigue. Apart from this, there are two Shimmering Towers featuring metal structures with crystal string lights suspended beneath a mirrored acrylic ceiling, to cast a dazzling shimmer and creating an enchanting atmosphere. The visitors will also bask in the Radial Reflection, a metal structure with MDF cladding and mirror acrylic from inside with neon lights flushed in it, a Blooming Echoes, metal structure with sensor-based neon lights and lit heart in the center with ILF signage and six Prismatica installations with iridescent acrylic with neon lights inside, enhancing the festive ambience. The beautifully intricate décor will transform the space into a dynamic landscape of colour and light, evoking a sense of awe and wonder with every step.

Key Features of the Festival:

Interactive Installations: Engaging light displays that respond to visitors' actions.

Tunnel of Colour: A stunning, immersive space that invites exploration.

Psychedelic Visuals: Thought-provoking displays that challenge perception.

Sensory Journey: A curated experience designed to engage all senses and inspire wonder.

Ms. Ritu Mehta, Centre Director of Phoenix Mall of Asia and Senior VP - Marketing for South, expressed her excitement about the festival: “We, at Phoenix Mall of Asia are thrilled to bring the first-ever immersive light festival to India in this festive season. The Phoenix India Light Festival is not just an event; it’s a celebration of inspiration, creativity, and connection. This festival embodies our commitment to innovation and excellence, ensuring that our patrons are continuously amazed and keep experiencing pieces of global excellence. By introducing this immersive light festival, we elevate the festive atmosphere during Diwali while providing a unique and opulent experience that aligns with our top-of-the-line positioning. In the coming years, we hope to bring this celebration to different corners of India, spreading the festive glow from city to city across the seasons.”

Mr. Gajendra Singh Rathod, President - Malls (South), also shared his enthusiasm: “The Phoenix India Light Festival is a unique opportunity for us to showcase the transformative power of light. We aim to create an environment that fosters connection and joy, allowing our visitors to experience the magic of light in a new and exciting way. This festival is a testament to our commitment to providing innovative and enriching experiences at Phoenix Mall of Asia.”

This initiative not only captivates visitors but also reaffirms Phoenix Mall of Asia's dedication to delivering extraordinary experiences that resonate with our discerning clientele. The Phoenix India Light Festival exemplifies the mall's mission to be a leader in the luxury retail landscape, setting new standards for elegance and engagement while continually striving to exceed expectations. Phoenix Mall of Asia welcomes everyone to the mesmerizing Phoenix India Light Festival. The celebration is open for all, opening doors for the visitors to step into a world where light shines brightly, bringing joy, inspiration, and connection to all who visit.