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Equitas Small Finance Bank hikes interest rates for Fixed Deposit and Recurring Deposit

2nd March 2023 Equity Small Finance Bank Limited, one of the leading SFBs, has announced the revised interest rates for Fixed Deposits as well as Recurring Deposits in Domestic and NRE/ NRO Interest Rates Accounts. The hike in interest rates will be effective from 01st March, 2023.

The hike will allow FD customers to earn 8.20% interest on investing less than INR 2 crore for a tenure of 888 days. The bank is also increasing interest rates on investments for tenures ranging from 12 months to 24 months. This is applicable to both domestic accounts and NRE/ NRO accounts. Furthermore, domestic senior citizens will receive 0.50% extra on the FD and RD rates. The interest payouts will continue to be quarterly across all account types.

Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “We are happy to announce that customers of Equitas Small Finance Bank will earn better interest on Fixed Deposit and Recurring Deposit. This meets the key agenda of the bank to encourage the customers’ habit of saving and maximize their benefits through a hike in interest rates and help people’s money grow. As a matter of fact, locking money for a determined period through lump-sum Or recurring deposits also ensures meeting certain goals in life. Besides, to boost the saving drive amongst senior citizens in India, Equitas offers an additional 0.5% on their Fixed Deposit and Recurring Deposit which enhances capital creation and suits their requirement of investment at the same time. We look forward to our customers joining the transformational journey of our Beyond Banking philosophy for achieving better growth of the society together.”

Fixed Deposit Rate for Domestic, NRE / NRO (for INR) with effect from 1^st March 2023

Recurring Deposit for Domestic, NRE / NRO (in INR) Rate for different tenure with effect from:

1^st March 2023

Fashion Platform STUMBL partners with the iconic fashion creator Masoom Minawala

Mumbai,2nd March 2023 Fashion Platform for Women of today, STUMBL has joined hands with fashion creator Masoom Minawala. Masoom, who is a Forbes 30 under 30 and one of the most trusted fashion creators in India has invested in STUMBL and will be coming onboard as a strategic advisor.

With this one of its kind partnership, STUMBL aims to bring top fashion creators on its platform to curate and recommend fashion that gives young women the freedom and confidence to discover their unique style. The brand aspires to build an open and honest community where there is a strong sense of belonging, a place where one can express their authentic self without any judgement, and be able to meet their tribe of unique people, creators and brands. Masoom as a strategic advisor will advise the team at STUMBL and help the company acquire and retain top fashion creators.

Here’s the link to Masoom announcing her partnership with STUMBL :

Launched in Dec 2022 by three experienced and highly successful senior executives, Maruthy Ramgandhi, Ayyappan Lakshmanan and Abhishekk Handa, the startup has been gaining good traction. The brand also raised $1.6 million from Saama Capital, Whiteboard Capital and notable angel investors. Since its launch, STUMBL has served more than 10,000 young women and 20% of them have been repeat customers ever since.

Hyper-personalisation of supply and shopping format for young women, strong creator community contributing to real-time style curations, and content marketing are key differentiating factors that STUMBL wants to focus more on. For new-age fashion brands which are caught in the highly competitive, discounting game on large marketplaces, and finding it difficult to reach their target group, STUMBL provides the right platform to target young women in a style-centric fashion.

Maruthy Ramgandhi,Co-founder & CEO, STUMBL, says “Fashion choices among women of today are much more unique and aspirational. It is dynamic and a lot driven by pop culture and OTT trends. Baggy clothes, K-fashion, Corsets, Bodysuits, Bralettes, Coords are our top selling styles right now. We work with creators to drop new styles every alternate day and keep our eyes peeled for new trends almost on a daily basis. Our vision is to be the number one fashion platform for women of today. A platform that will give them the fastest and most reliable access to latest fashion trends. ” He further adds, “We are building this new, highly engaged shopping experience with social interaction at its core, providing our users with shoppable moodboards. Think of Instagram or Pinterest with shop-as-you-scroll functionality that marries discovery and commerce.”

Commenting on her association with STUMBL, Masoom Minawala, Fashion creator and Investor, says, “I am thrilled to be a part of STUMBL’s journey both as an investor and strategic advisor. Their real-time supply chain which brings the latest trends to customers at a brisk pace, and creator-focused shopping approach have the power to not only revolutionise the traditional fashion landscape, but to also provide consumers with an unparalleled personalised shopping experience. Looking forward to witnessing STUMBL grow as the number one platform for Indian women and me being a part of this exciting evolution.”

According to industry reports, fashion as a category is currently 12% of e-commerce sales in India. By 2027, the category is projected to grow to 30% of e-commerce sales. Almost one-third of fashion commerce in India will happen online, majorly driven by GenZ and Young Millenials. STUMBL is well positioned to capture this opportunity as they are building a one-of-the-kind fashion platform targeted at the right audience. Masoom’s addition to the team will further strengthen the brand.

Birla Carbon to participate at the RETA International Conference 2023 in Thailand

Bangkok, Thailand –2nd March 2023: Birla Carbon, one of the leading manufacturers and suppliers of high-quality carbon black solutions, will participate in the Rubber-Elastomer Technology Association (RETA) International Conference 2023. The event will be held on March 2 – 3, 2023, at Jamjuree Ballroom, M floor, Pathumwan Princess Hotel, Bangkok, Thailand. Birla Carbon will exhibit at Hall 01, Booth 01 – 32.

Expressing his thoughts on the participation, John Davidson, Chief Sales & Marketing Officer, Birla Carbon, said, “The RETA International Conference 2023 is an opportunity for us to collaborate with customers on providing sustainable carbon-based solutions, as well as venture into new product developments for the EV range of vehicles. With the increasing focus on sustainability around the globe, the team at Birla Carbon aims to bring sustainable and mobility-based product solutions to its customers.” He further added how, “With our commitment to offer these circular products, we aim to assist our partners and customers to help achieve their sustainability goals through our technical expertise.”

Birla Carbon will present its complete portfolio of high-performance carbon blacks for customers’ applications along with a range of sustainable mobility solutions, including Continua™ SCM and other leading products for the rubber industry. Birla Carbon is dedicated to providing a range of solutions focusing on efficiency and sustainability. More details will be availabe at the technical conference presentation on ‘Bringing Circularity at Scale Through Sustainable Carbonaceous Materials’.

Backed by a robust supply chain, large-scale availability, and an eye for detail, these high-quality sustainable alternatives to traditional carbon blacks are the perfect solution to help customers come closer to achieving their sustainability goals. With a focus on performance driven products, Birla Carbon will also present the following solutions at RETA 2023:

•  BC2123, BC1029 and BC1001
•  BC2013
•  BC1083

The first RETA International Conference will bring in participation from suppliers across the rubber and elastomer industries. To learn more about Continua™ SCM and other carbon black solutions for the rubber industry, visit Birla Carbon at Hall 01, Booth 01 – 32.

Nexgen Energia and Assam Gas Limited to Collaborate on Strengthening Renewable Energy in India

Guwahati,2nd March 2023 Nexgen Energy Ltd., a prominent green fuel energy company that specializes in installing biogas plants, and Assam Gas Limited, a key player in the Indian energy sector, have announced a collaborative effort to fortify renewable energy sources in India. The partnership was established following an extensive meeting between Dr. Piyush Dwivedi, Chairman of Nexgen Energy, and Gokul Chandra Swargiyari, Managing Director of Assam Gas Limited, where they discussed various measures to boost renewable energy in India, with Nexgen Energy expected to play a pivotal role.

Nexgen Energy has been rapidly working in the field of energy and the environment in recent months, attracting media attention with their investments in Uttar Pradesh, which are expected to expedite biogas production in India. Their expertise in installing biogas plants is considered essential in bolstering renewable energy in the country. During the meeting, Dr. Dwivedi and MD Swargiyari also talked about purchasing LPG and CNG gas with LN G and CN G gas, and announced an agreement to work on alternative energy.

MD Swargiyari is a well-known investor in the energy sector, utilizing cutting-edge technology to develop innovative solutions. The collaboration between Assam Gas Limited and Nexgen Energy is expected to have a significant impact on the energy sector in India.

“This collaboration between Nexgen Energy and Assam Gas Limited is a significant step towards enhancing renewable energy in India and making the country more self-sufficient in the future,” said Dr. Dwivedi. “We are thrilled to work with MD Swargiyari and his team at Assam Gas Limited and are looking forward to a fruitful partnership.”

The partnership between these two energy leaders in India is a positive development for the country’s energy sector. With both companies bringing their expertise and innovative solutions to the table, this collaboration is expected to drive significant progress towards strengthening renewable energy sources in India.

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LoveChild by Masaba witnesses the biggest Beauty live commerce launch on Myntra’s M-Live with ~40k viewers

Bangalore,2nd March 2023. Leading fashion designer, entrepreneur, and actor Masaba Gupta participated in a live session with Myntra’s shoppers through its live commerce proposition, M-Live on the platform on 22 February. The event was part of the launch of the face make-up category of LoveChild, a cosmo-wellness and beauty brand founded by Masaba. During the big-bang launch event, Masaba engaged with her fans, fashion enthusiasts, and beauty aficionados, who in turn flanked the platform to get a glimpse of the widely-admired beauty maven. The live session was undertaken to introduce LoveChild’s ‘Shaadi’ inspired Band Baaja Blush creme blushes and Highlighted Nakhre, highlighter palettes, the session attracted a whopping 40K+ viewers, making it one of the largest live launches for a beauty brands on M-Live, Myntra’s live commerce platform.

The live session was simulcasted on Myntra Studio, Myntra’s Instagram page, Myntra Beauty’s Instagram page, Lovechild’s Instagram page and Masaba’s Instagram page. During the live session with her fans, talked about her connection with LoveChild, including showcasing the latest products inspired by the joy of self-love and the grandeur of Indian weddings. She explained how the packaging design of her products captures the energy and vibe of these celebratory moments, bringing them to life. The session also saw her speak about LoveChild’s latest launches designed for all Indian skintones, which include the two shades of Highlighted Nakhre – Chandni and Sitara, and the six vibrant categories of Band Baaja Blush – Bubblegum Baraat, Peach Puchka, Shocking Sharbat, Brown Kudi, Lal Lal Land, and Cinnamon Choli.

Staying true to her personality, Masaba kept the interaction fun and free flowing. During the session hosted by popular beauty influencer, Debasree Banerjee, Masaba also touched upon dealing with acne and sensitive skin over the years her desire not to restrict women with preconceived notions of beauty and skincare. She spoke about her fascination with ingredients such as hyaluronic acid, Shea butter, and niacinamide, while highlighting her admiration for ethical products, which led the way for her to ensure that LoveChild products are PETA certified and free from sulfates and parabens. The session culminated with mentions of unmatched offers that viewers could use to avail her products at attractive prices on Myntra Beauty.

With over 1400+ brands and 75000+ SKUs, Beauty and Personal Care is one of fastest growing categories on Myntra. With 100% engagement rates being witnessed across its sessions coupled with a significant growth in its live streaming traffic, Beauty is also a top-performing category on Myntra’s live commerce proposition, M Live. Myntra has facilitated 8000+ M-Live sessions so far with brands such as Lakme, MAC, Colorbar, Innisfree, Maybelline, MASIC, FAE Beauty, and Arata leveraging the proposition to interact with their communities on a deeper level. With the strong love and reception from the brands and customers for M-Live, Myntra plans to scale its brand-led M-lives to make up for a majority of all the live sessions in the next few months. On a daily basis, two hours of beauty content is scheduled on M-live with the Beauty Squad consisting of beauty experts such as make-up artists, skin specialists, dermatologists sharing reviews, trends, pro-tips and hacks on make-up, skincare and haircare, among others.

Axis Bank completes acquisition of Citibank India’s consumer businesses in India; strongly positions Axis Bank for accelerated premium market share growth

Mumbai, 2 March 2023: Axis Bank, one of India’s largest private sector banks, has completed the acquisition of Citibank’s consumer business in an accelerated time frame of within 7 months post receipt of CCI approval, displaying a strong testament of its execution strength. The deal has been closed with Axis Bank paying a total purchase consideration (after customary & contractual adjustments) of INR 11,603 Cr* to Citibank India.

The transaction comprises the sale of the consumer businesses of Citibank India, which includes loans, credit cards, wealth management and retail banking operations. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited, comprising asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

The acquisition is a healthy strategic fit in line with Axis Bank’s GPS (Growth, Profitability & Sustainability) strategy and its focus on premium segment growth. The Bank has gained access to the large, affluent and profitable customer franchise of Citibank, which aligns well with its Premiumization strategy.

With the acquisition, comes a quality credit card franchise with one of the highest wallet shares in premium cards, that is Complementary and consolidates Axis’ position in the cards business, market share improving from 11.4% to 16.2%(1).The acquired portfolio would increase Axis Bank’s credit card customer base by ~19%, with an addition of 1.8 million cards***. With the highest number of transactions per card across the industry and digitally engaged customers, the deal would strengthen Axis Bank’s position in the top 8 metros, while also providing the opportunity to adopt global best practices in client servicing and operations through Citi Phone banking.
Additionally, the acquisition of 2.4 million customers of Citibank India enhances Axis Bank’s presence in the key growth segments, complimenting the existing Axis franchise. The Bank now has aggregate deposits of INR 8,881 Bn of which high proportion of CASA is at 77%, with SA constituting 71%. Access to a premium deposit base with deep corporate salary relationships has improved the combined CASA ratio on proforma basis by ~150 bps to 46%. Affluent and digitally engaged SA customer base with access to ~1600 Suvidha corporate relationships that significantly strengthens Axis Bank’s Salary Business.

Post-acquisition, Axis Bank gains ready access to highly affluent wealth customers resulting in a 33% addition to overall AUM of Burgundy Private Banking portfolio, further strengthening the existing franchise. With an added AUM of INR 947 bn across Citi products in Wealth Management and Private Banking, the current AUM of the Bank’s wealth management portfolio stands at INR 3785 bn, making it the 3rd largest in the industry.

Through the acquisition, Axis Bank welcomes a diverse talent pool of ~3200 employees trained in global best practices, and an experienced leadership with deep domain expertise.

Benefits for Citibank customers

The Citi customers will continue to enjoy same benefits and privileges with no changes in their existing Bank account number, Credit/Debit Card numbers, cheque books, IFSC & MICR code. They will continue to be serviced by same relationship managers and teams. All the 21 in perimeter branches remain fully equipped to serve the incoming customers; we are also equipping 13 additional branches that would be available for incoming customer servicing during the transition period. The necessary IT applications and trained staff have been deployed at acquired branches. All the services to the incoming customers will continue to function as before as the same teams from Citi move to Axis intact.

On the other hand, the erstwhile Citi retail franchise will now have access to massive national scale of (~4900) branches and (~16,000) ATMs and recyclers as well as cutting-edge digital plus data-science assets through the Axis platform.

Further, Citibank’s customers will specifically benefit from Axis Bank’s wider geographical reach and comprehensive service offerings, along with One Axis capabilities that extend across all its subsidiaries ensuring ‘same or better’ offer to all Citi customers.

Speaking on the occasion, Amitabh Chaudhry, MD&CEO, Axis Bank said, “We welcome over 2.4 million customers and ~3200 employees to our Axis family ‘Dil Se’, as we successfully conclude the first leg of integration. This is a significant milestone in Axis’ journey of growth and leadership in the Banking industry and is set to bring great value for all stakeholders involved. We have a strong balance sheet, comfortable capital levels, and the right team and customer segments to further realize our ambitions.”

He added, “Citibank has a culture that is much like ours, with a commitment to best-in-class customer service, people focus and community engagement. Axis Bank already has a rich network of Citi alumni across the hierarchy, which reflects of the cultural alignment between the two organizations. Given the expertise that the new employees will bring to the table, we view them as a significant force to help drive our GPS objectives. The premium portfolio and business synergies through this deal will help accelerate and add further momentum to our already robust plans across priority segments.”

Subrat Mohanty, Group Executive & Head – Banking Operations and Transformation, Axis Bank said, “We are delighted with the addition of Citi’s premium consumer business and a high quality team of colleagues to Axis Bank. We expect our customers to experience the value of this integration with newer, innovative products and world class customer practices. Axis Bank is positioned strongly to power India’s growth story.”

Arjun Chowdhry, Group Executive & Head – Cards, Payments & Wealth, Axis Bank said, “Axis Bank is committed to building a strong consumer banking business in India, and already has deep market presence, across all segments and geographies. All ~3200 Citi colleagues, who carry a strong and diversified skill set, are extremely excited to join the Axis family and further build on its growth ambitions. We look forward to collaborating with Axis’ experienced senior leadership team and diverse talent pool, as we join the 88,000+ strong, dedicated workforce and live up to the brand’s credo ‘Dil Se Open’.”

Videocites Partners with NBA to Provide Greater Insights into League’s Social Media Exposure

Videocites Partners with NBA to Provide Greater Insights into League’s Social Media Exposure With Initial Closing of Series-B Funding led by Velocity Capital Management

NBA Equity invests in Videocites to understand the exposure and impact of fan behavior and user-generated content on social media.

Tel Aviv, Israel, New York, NY, March 1, 2023 – Videocites, the creator of the next-generation analytics solution that reveals the true social footprint created by fans and partners on social media, announced the initial closing of a Series B round led by Velocity Capital Management (“Velocity”) with additional investments by Series A investor Infront Sports & Media AG, and NBA Equity. With offices around the globe, including one newly opened in New York, Videocites is providing the NBA with greater insights into its global reach and brand exposure across social media content published by fans and media partners.

While user-generated content (UGC) has a significant influence on a brand’s perception and popularity across social media, it’s challenging to identify and categorize at scale. Nevertheless, as it continues to grow exponentially, it’s crucial to measure fan content. Videocites has perfected its AI-generated identification capabilities and video-fingerprinting technology to recognize and analyze UGC and trademarked assets related to the brand. Its award-winning technology reveals fans’ engagement through video identifiers and contextual search.

“We’re excited to collaborate with Videocites to better understand how user-generated content resonates with our fans,” said David Lee, Head of NBA Equity. “This partnership and our investment in Videocites reflect our commitment to continue to grow and embrace our fans across the ever-evolving global social media landscape.”

“Aggregating and analyzing real-time UGC and brand video data in one dashboard allows our clients to keep their finger on the pulse of their fanbase and partners,” said Eyal Arad, Videocites’ Co-Founder, and CEO. “It’s no secret that today’s user habits across social media have a significant impact on shaping public perception of any organization. We are turning that ‘perception’ into quantifiable data.”

Velocity is a sports, media, and entertainment domain-focused private equity firm founded in 2021 by David Abrams and Arne Rees. “We believe that Videocites can become the industry standard for tracking and measuring intellectual property across social media. Videocites’ technology greatly enhances monetization opportunities for rightsholders and creates a platform for streamlined direct-to-consumer engagement,” said Velocity Managing Partner David Abrams.

Videocites will use the funding to grow its global presence and recruit leading sales and business development professionals to expand its unique offerings to brands and content owners in the United States and Europe.

Telangana Agriculture minister Singireddy Niranjan Reddy to inaugurate India’s biggest Agri show KISAN at Hyderabad

Hyderabad, March 1st, 2023: Hyderabad is getting ready to witness KISAN Agri Show, one of the largest agriculture exhibition in India will start on 3rd March and will continue till 5th March at Hitex. KISAN Agri Show 2023, is going to be the 32nd Agri exhibition in the series. The exhibition entry will be open from morning 10 AM to evening 5 PM. The show will be inaugurated by the Honorable Agriculture Minister of Telangana Shri. Singireddy Niranjan Reddy.

The past series of exhibitions received tremendous response and were very beneficial and useful for investors as well as farmers across the country. This year’s KISAN Agri show will have more than 150 exhibitors and is expected to have more than 30,000 visitors from all across Telangana and neighboring states.

The exhibition is spread over 10,000 sq.m of area and will connect 160+ companies in three days. The latest products and innovative concepts in agriculture will be displayed here. KISAN has been receiving support and participation from leading agricultural institutions.

SPARK, a special arena for Agri Startups is planned to present Advance technologies and innovative ideas. The penetration of mobile phones and Digital India Initiatives are empowering farmers. SPARK Pavilion of Agri Startups will be a major attraction at KISAN FAIR. Over 20 Agri Startups will present their new technologies and concepts here.

Gnana Kendram is a cluster of stands from Krishi Vigyan Kendra, Agriculture University and ICAR institutions. Here farmers will get information and knowledge about new technologies and innovations appropriate for Telangana Farmers.

KISAN exhibition will focus on Agri Input, Water Management, Tools & Implements, seeds & planting material to help farmers locate things of their interest. Open Arena will display large farm machinery & implements. Farmers will see many innovative farm technologies especially evolved for Indian agro-climatic conditions.

Gothic to Poppy colours – Here’s to the freshest trends for 2023 in home décor

By Mr. Ekant Singh, Founder & CEO – Page 2813

One of the greatest outcomes of the pandemic is that people are investing in doing up the décor of their homes much more than previously. With work from home becoming the new normal and people spending a lot of time at their homes, home décor today commands great attention. Let’s look at the trends that will be in vogue in 2023.

Gothic designs: Perceived to be related with a dark décor, gothic designs are sought after owing to their mystic, classic and intricate designs. Originating in the medieval period, one can see a lot of cathedrals and castle kinds of influence in these designs. The use of dark hues like charcoal grey, maroon, purple, matt blackish silver for the walls and contrast matching colours for curtains will give a grand gothic look. Opt for sweeping velvet curtains that look royal and match the theme. You can further accentuate the space with heavy intricately carved dark chocolate wooden furniture with rich velvet upholstery. Go for dark shades of rich colours like vintage purple or maroon to get that gothic look that will be ruling 2023.

The use of statement chandelier pieces, carved photo frames and wrought iron candle stands will add to the look. Use dim lighting that will add to the setting. Note that while the gothic look when put together is classy, the use of dark colours may make the area look smaller. So, for smaller configuration apartments, go minimal while opting for the gothic look else one will end up with crowded interiors instead. Also, as mentioned previously gothic designs are royal in nature and any clutter in the room dismisses the effect completely.

Poppy colours: The opposite to the gothic designs, as the name suggests poppy colours pop with energy, are subtle, give a very light calming effect. These include use of earthly colours like peach red, teal, olive green, mustard yellow, dusty lavender etc. You can do a two-colour combination of poppy colours and white to make your room look big and spacious. Sheer curtains will add that spunk to the entire look while getting in enough light and brightness in the room. While going for a décor with earthly colours, you can stay close to nature by carefully accessorising the room. For starters, a comfortable L-shaped sofa will pale floral upholstery will spring in a new vibe in the room.

Opt for lightweight and coloured furniture like oakwood instead of the heavy-duty teak. Also, instead of bulky all over the room pieces, opt for compact furniture that will be both efficient and clutter-free. Paintings, handicraft statement pieces and photo frames with family pictures will add to the room’s simple yet classy look. The advantage of these colours in your home is that even while being subtle and at the background, they become the heros the home décor. With the colours being bright in their own grounds, lighting in the room should be anything but dim. Finally, this kind of look is a breath of fresh air for smaller configuration units.

So, while these are two contrasting looks that will trend in 2023, each has its own beauty which when imbibed nicely will make your home, a dream home.