23, Dec 2023
Jaya Vaidhyanathan, CEO, BCT Digital, around banking sector and unsecured loans.
As we stand on the cusp of 2023, the RBI’s decision stands as a beacon of prudence and foresight. Elevating risk weights for personal loans underscores our commitment to responsible lending and financial stability. It’s a timely intervention, echoing caution against the allure of easy credit in the unsecured consumer loans sphere. While the monetary impact of potential bad loans might seem limited, the sheer volume of individuals attracted to non-productive borrowing, particularly for items like gadgets, warrants our attention. This measure serves as a safeguard against lenient loan practices, drawing from historical lessons that highlight the risks stemming from lax appraisals in credit card and personal loan domains.
Moreover, it’s not just about reining in lending institutions; it’s a concerted effort to protect the public. The RBI’s broader focus, spanning from crackdowns on unregulated lending apps to cautioning against speculative market behaviour, reflects a holistic strategy. As we celebrate the resilient state of our banking system post the past decade’s trials, it’s imperative to acknowledge and address the mounting concerns in the peripheries—Fintechs, NBFCs, and the stock market. Our financial health depends not just on the stability of our banks but on a vigilant approach to the evolving challenges in adjacent financial sectors.
In 2024, Indian banks will stand at a pivotal juncture. With only 10% employing integrated risk management as per the FIBAC’ 23 survey, a strategic shift is imperative. Also, the climate change brings a duality of opportunity and risk—$2.5 trillion in green finance potential and risk of allotting significant credit to industries, vulnerable to climate change. Adopting dedicated risk management frameworks, embracing innovative models and effective technology will be key in navigating these challenges, ensuring resilience, and capitalizing on emerging opportunities.
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- By Rabindra
23, Dec 2023
Dubai’s Department of Economy & Tourism Partners with JioTV for a New Travel Show “Once Upon A Trip! To Dubai” Starring Anil Kapoor and Maniesh Paul
‘Once Upon A Trip! To Dubai’ is an invitation to view Dubai in an entirely new light, where every corner of the city tells a story, waiting to be uncovered and celebrated.
India-wide release, 23rd December 2023: Dubai’s Department of Economy & Tourism (DET) has announced an exciting partnership with JioTV to launch a unique 4-episode travel show titled “Once Upon A Trip! To Dubai.” In this unique show, global superstar Anil Kapoor plays himself as he embarks on a hilarious and adventurous journey through the stunning city of Dubai along with actor Maniesh Paul.
More than just a travel show; “Once Upon A Trip! To Dubai” is a story of rediscovery, bonding, and the magic of serendipity. As Kapoor and Paul traverse through the alluring landscapes and vibrant cultural tapestry of Dubai, their (on-screen) personas reflect their real-life charm and wit, delivering an authentic and engaging experience to Indian viewers. The show is set to offer a rich blend of comedy, adventure, and heartfelt moments, presenting Dubai in a unique light that’s never been seen before. It not only serves as a testament to Dubai’s enchanting allure as a global travel destination but also celebrates its rich cultural mosaic and dynamic spirit in a way that resonates with Indian audiences.
At the heart of “Once Upon A Trip! To Dubai” is its unwavering commitment to authenticity. The show transcends the typical confines of a travel show, steering away from standard formats to embrace a more genuine path to storytelling, where Kapoor and Paul are guided by their insatiable curiosity and passion for adventure, towards a city that they have known and loved for decades. Their reactions, from laughter to awe, unfold naturally as they witness the hidden gems, subcultures and authentic experiences as they explore the streets of Dubai. The passion driving the duo through their journey further builds a profound connection with their narrative. “Once Upon A Trip! To Dubai” is more than a show; it’s a genuine portrayal of travel, where the spirit of Dubai comes alive in its most authentic form.
“Once Upon A Trip! To Dubai” heralds a new era in travel storytelling, one that extends beyond the traditional methods of showcasing a destination. It dives deep into the rich tapestry of experiences and emotions that truly resonate with Indian audiences. In choosing to collaborate with JioTV, we recognized a shared vision for innovation and a unique approach to storytelling that aligns perfectly with our goals of acquainting the lesser-known sides of Dubai to an audience that resonates with the destination.
JioTV’s commitment to quality content, unmatched distribution scale & audience engagement across India makes them an ideal partner for bringing this vision to life. Dubai, through the eyes of Kapoor and Paul, transforms into a character itself, full of stories waiting to be discovered – thereby making the wonders of Dubai accessible to all.
Superstar & Actor Anil Kapoor, reflecting on his experience, said, “Working on ‘Once Upon A Trip! To Dubai’ has been a journey of rediscovery, both of the incredible city of Dubai and within myself. More than a project, it was a journey of the heart. Whenever I have explored Dubai, I have not only just encountered stories; I discovered pieces of myself in every corner. There’s a raw and real quality to this experience, so different from the scripted roles I’m used to. It’s about forming genuine connections, embracing laughter, and the unexpected surprises along the way. This show particularly has allowed me to see Dubai with a sense of wonder and authenticity. JioTV, serving as a robust and expansive platform, is the perfect powerhouse for presenting this authentic journey to our viewers at a grand scale. My hope is that it will inspire our audience to appreciate the beauty of Dubai and the magic inherent in the real-life adventures that I shared with Maniesh.”
Actor Maniesh Paul further added his unique flair, “’Once Upon A Trip! To Dubai’ was an adventure like no other, blending my love for traveling with the uncharted wonders of Dubai. Each day was a new adventure in this magnificent city uncovering a new sense of wonder and joy. ‘Once Upon A Trip! To Dubai’ brought out an authentic joy and spontaneity that was refreshingly real. The streets of Dubai aren’t just backdrops; they’re alive with stories and unexpected turns, much like my own journey that I shared with AK. This show has been a revelation, showing me the power of impromptu moments and the genuine connections that come from shared laughter and experiences. JioTV has played an indispensable role in bringing this exhilarating journey to the screens, making it a grand experience for our viewers. I hope our audience finds as much joy and surprise in watching this travel show as I did in creating it.”
The show culminates in a captivating finale featuring a special guest appearance by the talented Emirati soul singer Arqam Al Abri whose musical artistry adds a distinctive and enriching dimension to the last episode, beautifully echoing Dubai’s rich and diverse artistic landscape.
Produced by Stars “n” Stripes and directed by Satyajit Kadam, who has a notable advertising career and accolades like the Cannes Lion and Spikes Asia, ‘Once Upon a Trip! To Dubai’, also features the visual finesse of acclaimed cinematographer Satchit Paulose, known for his work on “Pathaan” and “Fighter”.
Get ready for a one-of-a-kind journey. “Once Upon A Trip! To Dubai” is more than just a show; it’s an immersive experience, an innovation, a heartwarming journey, streaming exclusively on JioTV, starting this weekend.
23, Dec 2023
Mahindra Last Mile Mobility Limited and Attero Collaborate for Sustainable EV Battery Recycling
Bangalore, December 23, 2023: India’s No.1 electric 3-wheeler manufacturer, Mahindra Last Mile Mobility Limited (MLMML) – a subsidiary of Mahindra & Mahindra, and Attero, a global leader in Lithium-ion battery recycling as well as e-waste management, have joined forces. This strategic collaboration, focused on effective EV battery recycling, represents a proactive effort to tackle the environmental concerns linked to safe electric vehicle battery disposal.
MLMML, a prominent leader in electric vehicle technologies, offers an extensive selection of Li-ion electric 3-wheelers featuring models such as Treo, Treo Plus, Treo Zor, Treo Yaari, and Zor Grand.
Renowned for its recycling technology, Attero has achieved an outstanding recovery rate for precious materials at its Roorkee facility. The partnership between MLMML and Attero is specifically focused on the sustainability and recycling/reuse of lithium-ion batteries.
Ms. Suman Mishra, MD and CEO of Mahindra Last Mile Mobility Limited, said “As a leader in India’s last mile transportation electrification, we are unwavering in our pursuit of net-zero emissions and sustainable practices. Teaming up with Attero as a preferred partner for Li-ion battery disposal underscores our commitment to provide a pollution-free transportation and drive towards a greener future.”
“Our commitment to a circular economy and green technology resonates with MLMML’s vision for a sustainable future. Attero is a pioneer in Li-ion battery disposal and sustainable e-waste. The advanced solutions, backed by years of expertise, ensure that we can recover and recycle electric vehicle batteries with unmatched efficiency.” said Mr. Nitin Gupta, CEO and Co-founder of Attero Recycling.
23, Dec 2023
Magniflex India launches Ergo Tre Electric Bed in Hyderabad
~The company charts 32% Growth in the state; Plans to add many more dealers by March’24~
Hyderabad, December 23, 2023: Magniflex India (Made in Italy), renowned as Europe’s leading mattress brand with a prestigious 60-year heritage and Italian origins, has added the revolutionary ‘Ergo Tre Electric Bed’ to its diverse product lineup, reinforcing the brand’s dedication to delivering advanced sleep solutions. This luxurious and health-focused bed, operated by a remote control, incorporates ergonomic plates designed to provide personalized body support. This expansion is in line with Magniflex’s commitment to offering innovative solutions that cater to the evolving preferences in contemporary sleep accessories to all age groups.
The company is experiencing significant growth in the vibrant state of Telangana, particularly in Hyderabad. Notably, the company has achieved an impressive 32% growth in the region and is strategically planning to augment its presence by adding many more dealers by March 2024.
Lancet study suggests that India has approximately 87.5 million cases of low back pain, often attributed to poor postures such as slouching in chairs, lying on the belly with a laptop, and sitting on beds. To address these issues, Magniflex has launched the Ergo Tre Electric Bed, designed to alleviate back pain and improve sleep posture. Mr. Anand Nichani, Managing Director of Magniflex India, said, ‘Our newly launched Ergo Tre Electric Bed is crafted with a robust adjustable base made of silver beechwood and complemented by ergonomically shaped plates. Users can adjust the head and feet positions, alleviating spine pressure and addressing concerns such as back pain, snoring, acid reflux, sleep apnea, varicose veins, and swollen feet.'”
“In response to the growing number of ultra-high-net-worth individuals in Hyderabad, Magniflex India is responding to the escalating demand for good-quality mattresses by expanding its dealership presence within the state. We are also looking at opening exclusive stores in prime locations like Banjara Hills and Jubilee Hills, where the demand for luxury mattresses is particularly high,” added Mr. Anand.
Hyderabad, currently witnessing a surge in high-net-worth individuals contributing to the luxury realty market’s growth, serves as a strategic market for Magniflex. In the first quarter of 2023, luxury units accounted for 25% of all sales, reflecting an upward trend from the previous year. This underscores the city’s burgeoning affluence and aligns with the company’s strategic efforts to cater to the discerning preferences of Hyderabad’s luxury-seeking clientele. The upscale mattress industry, represented by Magniflex India, has experienced remarkable annual year-over-year growth of 40%, with annual revenue exceeding ₹21 Crores.
To cater to the growing demand for these mattresses in the state and to promote the importance of investing in a quality mattress for better health, Magniflex India has introduced the Magniflex Investment Plan (MIP) that provides EMI schemes across all its products, starting as low as Rs 3535 per month.
Countrywide, Magniflex operates through six franchises, with four in Bengaluru, one in Ahmedabad & one in Gurgaon, and a network of approximately 89 dealers.
23, Dec 2023
Pvr Inox Opens New 3-screen Multiplex in Sector 85, New Gurugram
National, December 23, 2023: PVR INOX, the largest and the most premium cinema exhibitor in India has announced the launch of its 14th multiplex in the city of Gurugram, Haryana. The 3-Screen multiplex is located in IRIS Broadway, Sector 85, Gurugram, on NH-8, Dwarka Expressway.
PVR INOX will strengthen its foothold in Haryana with 88 screens in 22 properties and continues its expansion in the Northern part of India with 463 screens in 103 properties.
The cinema is located in the most sought-after neighbourhood shopping centre, IRIS Broadway which offers an eclectic mix of retail, entertainment, and hospitality at the epicentre of New Gurugram. While there is an already established and ambitious community in the immediate catchment, the accessibility of the location through three major highways, NH48, Kundli – Manesar – Palwal Expressway and Dwarka-Gurugram Expressway will attract people from distant places to enjoy the cinematic experience on the big screen.
The multiplex has three impressively designed auditoriums with a total seating capacity of 482 with plush celebrity recliners where one can relax and indulge in a mouthwatering array of culinary delights from the extensive food menu. Each of the three screens is equipped with the best-in-class cinema technologies for sound and projection. This includes the advanced 4K Laser Projection system providing razor-sharp visuals, 7.1 Dolby surround sound and vibrant 3D view powered by Volfoni.
Commenting on the announcement, Mr. Ajay Bijli, Managing Director, PVR INOX Limited, said, “Gurugram is a city that is always on the move with fast paced infrastructural development being a financial and technology hub. We feel delighted to bring a new age cinematic experience in New Gurugram which has witnessed a remarkable surge offering a vibrant social life, residential accommodation and employment opportunities. We are confident that INOX IRIS Broadway will evolve into a preferred destination for movie enthusiasts and strengthening our brand presence in the region”.
With a modern and stylish theme, the new property promises captivating blend of styles. Industrial accents softened by contemporary hues create a unique and inviting atmosphere. Handcrafted luxurious tiles and mirrors add a touch of extravagance, while rubber wood fins in the ceiling with pops of bold color infuse warmth and personality. This carefully curated design equilibrium makes INOX IRIS Broadway a space that is both stylish and functional, setting the stage for an unforgettable cinematic journey.
“We understand that location is key to creating convenient and accessible entertainment options. That’s why we’re thrilled to introduce INOX IRIS Broadway in the heart of Gurugram’s burgeoning Sector 85. This strategic location, just off major highways makes the cinema easily accessible to residents of surrounding high-rises, busy professionals, and families in Gurugram. We’re confident that INOX IRIS Broadway will become the go-to destination for evolving entertainment needs of diverse audiences”, said Mr. Sanjeev Kumar Bijli, Executive Director, PVR INOX Limited.
23, Dec 2023
Trends and Challenges in India’s Real Estate Landscape of 2023
– By Rohit Gera, Managing Director, Gera Developments
Following a stellar 2023 fueled by affordability and a preference for larger homes, India’s residential real estate market shows continued promise for 2024. However, pockets of vulnerability emerge from potential price hikes and oversupply in specific markets.
The current boom rests on a foundation of increased affordability. Years of stagnant prices coupled with rising salaries have empowered buyers, leading to a surge in demand, particularly for larger apartments. This trend is further amplified by government initiatives like PMAY, aimed at bolstering the housing sector for low-income individuals.
While 2024’s outlook remains upbeat, several factors could pose challenges. The RBI’s interest rate hikes to combat inflation may lead to higher home loan rates, potentially dampening demand. Additionally, rapid growth in the sector could lead to oversupply in smaller towns, putting downward pressure on prices.
For homebuyers navigating this dynamic market, prioritizing reputed developers with strong track records is crucial. Choosing markets with robust job creation ensures potential price appreciation due to increased housing demand. Good civic and social infrastructure, often a product of government investment, is another key factor to consider for a desirable quality of life. Finally, remember that real estate is a long-term game; don’t chase quick profits but invest with a long-term perspective.
In conclusion, the Indian residential real estate market is poised for continued growth in 2024, but potential challenges necessitate careful navigation. By prioritizing reputable developers, job-rich markets, good infrastructure, and a long-term investment mindset, homebuyers can position themselves for success in this promising landscape.
23, Dec 2023
Axis Mutual Fund garners over INR 3,400 Crores in the Axis India Manufacturing Fund, in one of the highest fund-raise for a Thematic Fund
Key Highlights: –
- Category: Thematic
- Scheme Details: An Open-Ended Equity Scheme representing the India Manufacturing Theme
- Fund Managers: Nitin Arora and Shreyash Devalkar
- Gross Sales: Over INR 3,400 crores
- Applications received: Around One Lakh Fifty Thousand
Bengaluru, December 23, 2023: Axis Mutual Fund, one among the fastest growing fund houses in India, is excited to announce that it has garnered over INR 3,400 crores in the Axis India Manufacturing Fund, one of the highest funds raises ever in a thematic fund this year. This NFO, from 1st Dec to 15th Dec 2023, received robust participation from diverse investor segments from over 500 locations in India and garnered close to one lakh fifty thousand applications. Further, fresh inflows accounted for nearly 70% of the applications, making the NFO a resounding success. The digital channel witnessed an overwhelming participation as well, contributing to nearly 20% of the total applications, creating a new milestone for the Fund House.
In fact, in one of the first of its kind for the fund house, unique customers from B30 markets accounted for nearly 44%, standing on an almost equal footing with T30 markets. The overwhelming response from B30 markets is a clear reflection of the financially maturing Bharat and investor aspirations.
B. Gopkumar, MD & CEO, Axis AMC commented, “The overwhelming response underscores the confidence that investors have placed in India’s growth potential and Axis Mutual Fund’s commitment to deliver value. A significant ~10% of the applicants opted for long-term investments through SIPs (Systematic Investment Plans). Almost 30% of the Investors who invested in the NFO were new to Axis Mutual Fund, advocating their faith in us. This strong response marks the evolution of India’s investor base who are demonstrating the resilience and preference for such funds while understanding the long-term opportunities to leverage, given the fact that India remains on a higher growth trajectory and the government’s strong focus on manufacturing.”
Product Labelling and Riskometer:
AXIS INDIA MANUFACTURING FUND (An open-ended equity scheme representing the India Manufacturing Theme)
23, Dec 2023
Digital Cheer for Urban Millennials: Honor Smartphone and TagTalk Media’s Two-Week Holiday Fiesta for Honor 90 5G
New Delhi, 23rd December 2023: Honor Smartphone is excited to announce the commencement of a comprehensive two-week-long national campaign in partnership with TagTalk Media Communication for its latest flagship model, the Honor 90. Timed strategically during the holiday season, aligning with the merriment of Christmas and New Year, this two-week spectacle aims to resonate with the season’s spirit.
The campaign is set to roll out in major metropolitan areas like Delhi, Mumbai, Bangalore, and Pune on 200+ live displays, reaching young millennials. The potential of technology and compelling content, the programmatic campaign has been strategically deployed across premier pubs and restaurants with the real-time business DOOH network to create an immersive experience for the digitally engaged audience. The initiative will take center stage on the screen at PVR Priya in Delhi, guaranteeing optimal visibility and audience engagement.
Sharda Mandal, Chief Marketing Officer (CMO), HTech India, opined, “Our collaboration with Tagtalk Media Ventures is a testament to our commitment to engage with the urban Indians, boasting an impressive estimated daily reach of 3-4 lac individuals. HTech’s core values prioritize consumer-centric innovation, and our strategic approach involves harnessing the power of programmatic planning across premium networks. This strategy will not only enhance the effectiveness of our campaign but also position us to captivate the attention of the digitally savvy audience at the right time and place.
Gautam Bhirani, Founder & CEO , TagTalk said, “Excited about our collaboration for the Honor 90 launch campaign. As a smartphone-driven Digital Out of Home network, TagTalk connects with millions of Millennials and Gen-Z, fostering engagement through our collaborative social media ecosystem. Leveraging the Christmas and New Year celebrations, we optimized the campaign for maximum output with zero media spillover by delivering a high Share of Voice (SOV) and strategic day-time targeting in popular, high-traffic locations connecting with the heads down generation.”
In the upcoming campaigns, Honor smartphone plans to leverage GenAI in DOOH for more engaging content to connect with the audience seamlessly.
23, Dec 2023
‘Rallis India gets Silver Award at ICAI Sustainability Reporting Awards 2023’
Bengaluru | December 23: Rallis India Limited has been honoured with the Silver award in “Excellence in BRSR (Business Responsibility and Sustainability Reporting) Mid Cap – Manufacturing Sector” at the 3rd ICAI (Institute of Chartered Accountants of India) Sustainability Reporting Awards 2022-23.
This recognition by the ICAI underscores the organisation’s sustainability reporting practices, reflecting the dedication towards championing innovation, encouraging continuous improvements, and implementing knowledge and skills to achieve strategic objectives.
Speaking about this achievement Subhra Gourisaria, Chief Financial Officer, Rallis India, said, “We are honoured to receive this esteemed award on excellence in Sustainability Reporting by the Institute of Chartered Accountants of India. This prestigious recognition is a testament of our commitment of conducting our business in a socially responsible and ethical manner. We continue to embed sustainability-focused initiatives across the organisation to achieve our Sustainable Development Goals.”
Rallis India is dedicated to integrating Environmental, Social and Governance (ESG) principles into its business, emphasising the enhancement of the communities it serves.
Guided by its board-level SHES (Safety, Health, Environment and Sustainability) Committee, Rallis India prioritises safety and sustainability in strategic initiatives, budgets, audits and improvement plans. Periodic internal reviews of charters and policies, overseen by senior management and board committees, highlights its comprehensive approach to safety and sustainability implications.
23, Dec 2023
Air India Express Announces Exciting Sale on Domestic and International Flights
23-December-2023, Bengaluru: Spreading holiday joy, Air India Express announced a bumper sale on its domestic and international flights. Bookings made until December 25, 2023, for travel from January 8, 2024, to April 12, 2024, will enjoy fabulous deals. Domestic sector fares start at ₹1799, covering routes like Delhi – Jaipur, along with discounted fares on popular routes such as Chennai-Bengaluru, Bagdogra-Kolkata, Kochi-Bengaluru, Hyderabad-Goa, and more, including key international sectors.
Logged-in members get an extra treat with complimentary Xpress Ahead Services on the airline’s award-winning mobile app and website, airindiaexpress.com. Tata NeuPass Rewards Program members can earn up to 8% NeuCoins, enjoying additional benefits like exclusive deals on meals, seats, baggage, cancellation fee waivers and more.
Special fares are also available for students, senior citizens, SMEs, dependents, and members of armed forces on airindiaexpress.com. Air India Express continues to enhance the guest experience with the introduction of Vista VIP, a business class-like product featuring spacious seats, extra legroom, increased baggage allowance, hot meals, and priority services on select Boeing 737-8 aircraft.
With over 300 daily flights to 31 domestic and 14 international destinations, Air India Express operates a fleet of 59 aircraft, including 31 Boeing 737s and 28 Airbus A320s. The recently unveiled refreshed brand identity emphasises a commitment to personalised experiences, inviting travellers to ‘Fly as You Are’ with Gourmair hot meals, comfortable seating, AirFlix in-flight entertainment, and exclusive loyalty benefits. This refreshed identity aligns with the airline’s vision to inspire new possibilities and foster meaningful connections with the warmth of Indian hospitality.
