20, Dec 2023
Recur Club gets ISO 27001 certification for Information Security Standards
Recur Club, a fintech platform helping companies raise tailored debt capital, announces the attainment of ISO 270001 certification.
In a world where data breaches have severe consequences for businesses, including financial loss, damage to reputation, and even legal ramifications, and where phishing attacks remain a prevalent method of unauthorized access, it is vital to create a secure and safe ecosystem of information security.
Anirudh Bhardwaj, CTO, Recur Club, “Mr. Bhardwaj expresses great pride in attaining ISO 270001 certification. This certification is a step toward providing optimal privacy and peace of mind to our founders, who place that trust in us while sharing their data on our systems. This assurance comes with the ISO certification, as it protects against data breaches and unauthorized access and is the only certification that meets all the requirements of Information Security Management Systems.
According to a report by Cisco 2023, 60% of businesses anticipate increased regulation in the next 12 months, acclimating to the current scenario Recur Club has taken a proactive approach to protecting sensitive data and information, and the gold standard in Information Security Management Systems (ISMS) has been put into effect.
The key features of the ISO 27001 certification:
Advanced Cybersecurity: The certification is a testament to the fact that the company has taken proactive steps to identify and mitigate security risks to protect customer data and financial information.
Compliance with regulations: It makes the legal processes easier as the certification aligns with many of the data protections, like GDPR and CCPA.
Standardization: The certification process creates standard operating procedures for handling sensitive information to minimize errors and ensure compliance with security practices across the organization.
Lastly, the attainment of ISO 27001 certification is beneficial to the organization both externally and internally. This means proactive identification of potential threats and mitigation strategies reducing the risk of financial and reputational damages. It even increases awareness about data security practices among all the stakeholders of the company, promising continuous improvement.
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- By Rabindra
20, Dec 2023
G-SHOCK marked its 40th Anniversary celebrations with SHOCK THE WORLD powered by Vh1 India in Mumbai featuring Icons, Vicky Kaushal and Father of G-SHOCK, Kikuo Ibe
National, 20th December 2023: The heart of Mumbai pulsated with excitement as G-SHOCK, the trailblazing force in unbreakable watches, in collaboration with Vh1 India, brought SHOCK THE WORLD to India on December 16th, 2023. This global phenomenon, which was held in major cities around the world throughout the year, concluded 2023 in Mumbai.
Marking G-SHOCK’s 40-year legacy of resilience and innovation, the event was led by Bollywood actor and G-SHOCK brand ambassador Vicky Kaushal, and witnessed the convergence of the emerging youth street cultures with innovation, resilience, and style, creating an unforgettable experience for the G-SHOCK loyalists, fans, watch enthusiasts and audiences alike.
Four decades ago, a visionary named Kikuo Ibe dared to dream of crafting an indestructible timepiece. After overcoming numerous challenges, he triumphed in giving birth to G-SHOCK, a brand that has now gained a global sensation. Over the past 40 years, G-SHOCK watches have seamlessly adapted to incorporate cutting-edge technology and meticulous Japanese craftsmanship, consistently pushing the boundaries of what a timepiece can be. Today, G-SHOCK has transcended beyond being just as a watch brand; it has become a cultural icon, resonating with individuals from various genres such as fashion, sports, art, music, and more, who value toughness and authenticity.
The event celebrated the actor Vicky Kaushal as the Face for G-SHOCK in the esteemed presence of Kikuo Ibe – the Father of G-SHOCK, Mr. Shigenori Itoh – Executive Managing Officer, Casio Computer Co., Ltd and Mr. Hideki Imai – Managing Director, Casio India. Together, they engaged in a captivating dialogue, sharing insights into the evening’s proceedings, reflecting on the brand’s remarkable journey, and offering a glimpse into the exciting future of G-SHOCK. The additional highlight of the event was the unveiling of the first-ever TEAM G-SHOCK in India which includes a stellar assembly of athletes and artists who embody the epitome of ‘Absolute Toughness’. The young Cricketing Icon, Shubman Gill would be leading the pack along with the distinguished rally racer, Harith Noah, freestyle rapper and MTV hustle runner-up, Paradox, the Skateboarding Crew with The skateboarding squad with Sagar Waghela, Jay Singh, Nikhil Shelatka and Kushal Gaikwad, and India’s Best Break Dancer and Redbull Athlete, Arif Chaudhary.
This was followed by the SHOCK THE WORLD Event, living up to its name with jaw-dropping feats by the Father of G-SHOCK, Kikuo Ibe showcasing the rugged durability of G-SHOCK watches, alongside the magnanimous presence of Vicky Kaushal. The night unfolded with TEAM G-SHOCK member Paradox dazzling the audience with his performance, followed by a concert featuring the sensational KR$NA and electrifying DJ sets by Kayan and OG Shez.
Expressing his enthusiasm about the event, Hideki Imai, Managing Director, Casio India said, “SHOCK THE WORLD serves as a vibrant celebration of an iconic brand, which brings together individuals who share the spirit and enthusiasm for the legendary timepieces. This global phenomenon, which has historically served as a dynamic platform for emerging and established artists from various genres, has made its appearance in India after a successful run in 34 countries. We are honored to orchestrate G-SHOCK SHOCK THE WORLD in Mumbai with Vicky Kaushal who is a perfect embodiment of toughness, endurance and style. He truly echoes the spirit of G-SHOCK with his bold authentic choices and a relentless pursuit of excellence.
G-SHOCK is deeply committed towards the growth and empowerment of the emerging sub-cultures across the globe, and we hope our endeavors such as SHOCK THE WORLD contribute towards the advancement of the dynamic spirit of youth culture in India.”
G-SHOCK Brand Ambassador Vicky Kaushal expressed his thoughts on this partnership. He said, “My warm wishes and congratulations to G-SHOCK on its 40th anniversary. I am honored to represent a brand that has had such a profound impact on shaping youth culture globally. The brand’s commitment to pushing boundaries and its resolute ‘never give up’ attitude deeply resonate with me. Witnessing the energy and passion at the SHOCK THE WORLD event in Mumbai was truly exhilarating, and I look forward to embarking on this journey with G-SHOCK.”
The Father of G-SHOCK, Kikuo Ibe, expressed his thoughts on the event, saying, “I am thrilled to be part of SHOCK THE WORLD in Mumbai, where I witnessed the vibrant, confident, and dynamic youth of this incredible country. The event celebrated G-SHOCK’s enduring 40-year product legacy through an enigmatic fusion of sub-cultures. India, with its diverse melting pot of cultures, provides the perfect backdrop for hosting our event with the dynamic youth of the country. Meeting individuals across different genres – music, dance, sports, fashion – who fearlessly embrace the G-SHOCK spirit of ‘dare to dream and never give up’ was truly inspiring. We eagerly anticipate offering exciting experiences in India and remain committed to supporting and expanding the vibrant youth culture scene across the country.”
Produced by Viacom 18 Live, G-SHOCK SHOCK THE WORLD offered an immersive experience to the audiences with the curated Experiential Zones, engaging attendees through our rich product history & exciting innovations, subculture inspirations and product and cultural evolution which further strengthens the ethos of absolute toughness. The G-SHOCK VAULT showcased an exclusive collection of 40th Anniversary models, iconic collaborations and milestone models which provided enthusiasts with a glimpse into the brand’s evolution over the years. Some of the iconic models showcased included the first-ever G-SHOCK DW-5000C, the first thermo sensor equipped watch DW-6100, the first G-SHOCK with electro-luminescence backlight DW-6600, the first tough solar G-SHOCK DW-9300, world’s first watch with both GPS and Radiowave time calibration signal reception GPW- 1000. The Street Culture Zone, adorned with vibrant murals and wall art, reflected the dynamic spirit of G-SHOCK. The celebration reached its zenith, symbolizing the fusion of toughness, authenticity and differentiated experience that defines G-SHOCK. The event saw enthusiastic participation and excitement as attendees witnessed the Father of G-SHOCK in India and enjoyed enthralling performances, along with F&B experiences by Impresario’s SOCIAL & BOSS Burger.
Since its inception in 2008 to commemorate the 25th anniversary of G-SHOCK, SHOCK THE WORLD has evolved into an annual spectacle, solidifying its status as one of the most eagerly awaited street culture events. In the heart of Mumbai, SHOCK THE WORLD marked a momentous milestone in G-SHOCK’s history, bringing together the brand’s past, present, and future. With four decades of innovation and resilience, G-SHOCK continues to inspire and redefine the world of timekeeping.
20, Dec 2023
To The New Recognized as a Product Challenger Under 3 Categories in the ISG Provider Lens Report
New Delhi, December 20, 2023- TO THE NEW, a leading digital technology company, today announced that it has been recognized as a ‘Product Challenger’ in 3 categories – Consulting Services, Managed Services, and Data Analytics and Machine Learning, in the ISG Provider Lens™ for AWS Ecosystem Partners 2023 Report. In this quadrant, ISG highlights the current market positioning of AWS partners and how they address the critical challenges of offering managed services in the AWS ecosystem. ISG’s assessment is based on the expanse of providers’ service offerings and market presence.
This recognition underscores TO THE NEW’s expertise in providing comprehensive cloud solutions that help organizations maximize their AWS investments and reflect the company’s strong capabilities across the full spectrum of cloud services. Furthermore, CloudKeeper, its proprietary solution, empowers organizations using AWS by delivering guaranteed cost savings and comprehensive FinOps services.
“We are thrilled to be recognized as a Product Challenger by ISG,” said Deepak Mittal, CEO of TO THE NEW. “This recognition is a testament to our team’s commitment to providing our customers with the best possible cloud solutions and also helping them in embracing FinOps principles to enhance cost efficiency and optimize cloud utilization.”
20, Dec 2023
OnePlus AI Music Festival Culminates in a Spectacular Celebration of Music and Community*
India – 20th December 2023 – Packed with a sold-out crowd, the first-ever OnePlus AI Music Festival brought together a range of mesmerizing performances. Held at the Manpho convention centre, the festival kickstarted with India’s very own Prog Bros, followed by one of the country’s most celebrated upcoming artists Kayan. As the sun began to set, the night shifted gears with Ritviz taking the stage. The night moved into maximum power when GRAMMY Award-winning producer and multi-platinum-selling electronic dance music icon Afrojack took the stage, taking the evening to a crescendo.
A night to remember, OnePlus delivered on its promise and commitment, giving its largest community in the world a celebration of the best that music has to offer. Reflecting on the festival’s triumph, Ishita Grover, Director of Marketing at OnePlus India, expressed profound gratitude, saying, “The OnePlus AI Music Festival was a manifestation of our commitment to the brand’s ever-growing India community. It was inspiring to witness the convergence of diverse talents and the electric energy that filled the air. This festival was more than a musical event; it was a testament to the power of collaboration and the boundless creativity within our community.”
Artists who graced the festival stage also shared their sentiments about the unparalleled experience:
GRAMMY Award-winning producer and multi-platinum-selling electronic dance music icon Afrojack said, “Tonight was a high-energy thrill ride. The crowd’s enthusiasm was off the charts, and the energy exchange was electrifying. Connecting with fans was great, and this festival was quite the experience.
Sharing his thoughts on the festival, India’s biggest Independent Artist, Producer & DJ – Ritviz said, “Playing at the OnePlus AI Music Festival was quite the rush. The atmosphere was pulsating with energy, and seeing the crowd vibe with the music was an amazing sight.”
Swedish, Producer and DJ Diorange, known for their distinctive global sonic landscape had this to say, “Being part of the OnePlus AI Music Festival is a surreal experience. The fusion of bleeding-edge technology and music by the artists was very new to me. It’s not just a performance; it’s an exploration into the possible future, and I’m thrilled to be a part of it.”
Singer, producer-DJ and Model, Kayan said, “The OnePlus AI music festival was a really fun experience. The concept of how each artist made their songs and how it came through together was amazing to see. A really well put together show!.”
The OnePlus AI Music Festival showcased exceptional performances and served as a testament to OnePlus’ commitment to pushing boundaries and celebrating creativity within its community. The festival’s success underscores OnePlus’ dedication to providing unique experiences that resonate with its ever growing user base.
20, Dec 2023
Celebrate Christmas with Anastasia Beverly Hills
Christmas with Anastasia Beverly Hills, where beauty meets the festive spirit. Embrace the enchantment with the Oh So Dewy! Kit to get your glazed donut face on, creating a radiant and dewy complexion that mirrors the joy of the season. Elevate your holiday glam with the Holiday Party Glitz Kit, adding a touch of sparkle and sophistication to your look to get you party-ready. Complete your beauty ensemble with the Get Popping lip kit, ensuring your lips are as bold and vibrant as the Christmas cheer. Unwrap the gift of beauty this holiday season with Anastasia Beverly Hills and shine bright throughout the festivities.
Oh, So Dewy Kit:
Celebrate the magic of Christmas with Anastasia Beverly Hills’ newest creation—the Oh So Dewy! Kit. This exquisite collection captures the essence of the winter season with its Sugar Glow Kit with four shades of highlighting powder, soft-focus effect Stick Blush, and the irresistible Dewy Set Spray for a glimmering finish. Illuminate your holiday festivities with radiant hues that effortlessly enhance your beauty, making every moment merry and bright. Embrace glowing glamour this holiday season.
Availability – Tira Beauty
Holiday Party Glitz Kit:
Introducing The Holiday Party Glitz Kit by Anastasia Beverly Hills, a dazzling collection curated to get you party ready for the holiday season. Create a captivating look with the enchanting smoky to metallic-hued Sultry Palette, define those eyes with precision using the ultra-fine Liquid Liner, and achieve show-stopping lashes with the lengthening and volumizing Lash Sculpt Mascara. Unveil the shimmer and make a statement with this exclusive kit to bedazzle your Christmas day celebrations.
Availability – Tira Beauty
Get Popping Kit:
Anastasia Beverly Hills presents to you the Get Popping Kit, to encapsulate the essence of Christmas. This bold collection is your ticket to a vibrant party look, featuring a regal full pigment red Matte Lipstick in the shade American Doll, paired perfectly with a coordinating Lip liner to make your lips the showstopper. To complete this holiday transformation, the kit also includes the Mini Modern Renaissance palette, to set the seal on berry-hued sparkling eyes. Cherish this kit embodying the essence of yuletide allure in every stroke and shade.
Availability – Tira Beauty
20, Dec 2023
Christmas Gifting – Evocus Black Alkaline Water for a Merry Christmas
Christmas is the festival of love. People are increasingly looking for more considerate gifting options for their loved ones. This Christmas, share your token of love & care with Evocus, which has brought you an incredible range of health-conscious – gift collections.
Evocus has added minerals to maintain your immunity & gut health with multiple useful properties like Super Hydration, Boosting Metabolism and immunity, Detoxification & PH levels of 8+, and beautiful packaging.
20, Dec 2023
Amrita Vishwa Vidyapeetham signs MoU with Renault Nissan Technology & Business Centre India to drive innovation in Automotive Research
- Renault Nissan Tech donated a test car to support Amrita Vishwa Vidyapeetham’s cutting-edge research initiatives in the automotive & related field
- Joint elective courses emphasizing in depth studies will be initiated for automotive engineering
- Exclusive MTech Work Integrated Programs for industry professionals are to be launched
Hyderabad / New Delhi, 20th December 2023 – Amrita Vishwa Vidyapeetham, ranked among the top 10 universities in India according to NIRF 2023, and Renault Nissan Technology & Business Centre India (Renault Nissan Tech) have joined hands in a Memorandum of Understanding (MoU) during a signing event at the University’s Coimbatore campus. The MoU aims to foster collaboration in various domains, including placements, internships, elective courses, joint research projects, and the establishment of Centres of Excellence (CoEs) and labs.
The event was graced by chief guest Mr. Debashis Bimalprakash Neogi, Managing Director, Renault Nissan Tech and the Guest of Honour Mr. Hirotake Harada, Senior Vice President – Engineering, Renault Nissan Tech along with other dignitaries, including Mr. C. Parameswaran, Principal Director, Corporate & Industry Relations, Amrita Vishwa Vidyapeetham; Mr. Suresh Kodoor, Director, Academia-Industry Partnership, CIR and Dr. Sasangan Ramanathan, Dean of School of Engineering. As part of this partnership, Renault Nissan Tech donated a test car to support Amrita Vishwa Vidyapeetham’s cutting-edge research initiatives and related fields. Joint elective courses emphasizing in depth studies will be initiated for automotive engineering. Launching of customised work integrated MTech programs for industry professions on topics of Automotive Engineering and Thermal and Fluids Engineering is under consideration, working with Renault Nissan Tech.
Debashis Neogi, Managing Director, Renault Nissan Tech said, “Industry-Academia collaboration is key in fostering talent, skilling and research in automotive technology and education. Our shared vision will aide us in this journey of creating cutting-edge solutions and knowledge exchange, forging a path to excellence, that will shape the future of the industry. Our agreement with Amrita University is a testimony of this collaboration.”
“At Amrita, we endeavor to create an ambience that is most conducive for the students’ academic, professional and personal development, realized through rigorous, up-to-date and high quality educational programmes, practical exposure to industry practices by way of internships, participation in sponsored projects and joint research initiatives and, above all, nudging them to inculcate core human values, so as to bring about their holistic development.”, said Mr. Parameswaran, Principal Director, CIR, Amrita Vishwa Vidyapeetham.
Amrita constantly strives to build strong academia-industry partnerships to keep its academic and research programs closely in sync with the industry, an integral part of its continuing effort to build industry-ready talent for the future. Industry research and innovation initiatives at Amrita focuses on engaging in high-end applied research and development projects by collaborating with industries to address industry-specific problems and research needs, giving the students great learning opportunities and industry exposure. The present partnership will enable Amrita, working along with Renault Nissan Tech, to jointly drive innovation and create value for the automotive and associated industry.
The partnership will particularly foster research initiatives focused on emissions, aiming to understand and mitigate environmental impact, as well as exploring alternative fuels. Additionally, advanced sensors will be utilized for RLD (Road-Load Data) analysis, offering both offline and real-time monitoring of vital vehicle components. Amrita Vishwa Vidyapeetham will delve into the development of data-driven digital twins, employing modal-based and physics-based approaches to enhance simulation capabilities for specific performance metrics. The collaboration is further underscored by Amrita Vishwa Vidyapeetham’s commitment to custom research projects catering to the needs of Renault Nissan Tech, solidifying their joint efforts in advancing automotive technologies. The partnership will foster Amrita’s ongoing research on automotive and related areas, including eMobility, drive design, fuel cells, battery chemistry and vehicle dynamics.
Amrita Vishwa Vidyapeetham
Amrita Vishwa Vidyapeetham is a multi-campus, multidisciplinary Institution of Eminence accredited by NAAC, ranked 7th in the 2023 NIRF. Amrita continues to be the No. 1 Private University in India as per the 2023 world rankings. The university, headquartered at Coimbatore, is spread across nine campuses in five states and collaborates with institutions worldwide for human-centered, translational, and groundbreaking research. Founder Amma’s vision for education and research shapes the university’s mission. (For more information: http://www.amrita.edu).
Renault Nissan Technology & Business Centre India Private Limited
Renault Nissan Technology & Business Centre India (Renault Nissan Tech) is a captive automotive technology and business centre, supporting Renault and Nissan globally. Established in 2007, it is in Mahindra World City, Chengalpattu, India and employs over 10,000 workforce. There are three major verticals – Engineering, Information System and Information Technology (ISIT), and Global Business Services. The Engineering teams focus on Product Engineering, Process Engineering, Research & Advanced Engineering on local and global car programs. The Engineering team also contributes to digital acceleration working on Simulation, Software Defined Vehicles and Digital Twins. ISIT is the global application development division, contributing to the digital transformation of Renault and Nissan with a proficiency spectrum across AI/ML, data, cloud, IoT, and cyber-security contributing to transformation topics. Global Business Services provide Financial and Human Resource support to global Renault and Nissan. The Centre is one of the biggest OEM Automotive Technology Centres in India, with centres in Chennai, Bengaluru and Hyderabad.
20, Dec 2023
Conclude the festive season on a high note as Vijay Sales unleashes Christmas and End of New Year Sale (EYOS) with awesome discounts from Dec 16
Mumbai, December 20, 2023: As the holiday season slowly concludes and 2024 awaits on the horizon, Vijay Sales, India’s leading consumer retail destination, has announced its much-anticipated End of Year Sale (EYOS), to spread the joy of shopping this holiday season. Whether it’s buying Christmas gifts for your loved ones or simply shopping for the new year, Vijay Sales has got you covered with incredible savings for shoppers across the nation.
Beginning from 16 December, this magnificent shopping fiesta beckons customers to indulge themselves and make merry with their loved ones while immersing in an unforgettable shopping experience. The EYOS extravaganza will go live on both Vijay Sales’ physical stores and the website, www.vijaysales.com.
Some of the unmissable deals brought to you by Vijay Sales this time include electronic gadgets and appliances like smartphones, I-phones, audio ranges, laptops, etc. Unleash the power of connectivity with our budget-friendly smartphones. Stay ahead in style and functionality without breaking the bank. Indulge in the epitome of innovation with iPhones. Elevate your tech experience and revel in the seamless blend of luxury and performance.”
Drown in the rhythm of savings! Unbeatable deals on our audio range. Elevate your auditory experience without compromising your budget. Empower your productivity with our range of laptops. Unleash endless possibilities, whether it’s work or play, without burning a hole in your pocket. Stay on trend and on time! Grab our top-selling smartwatches. Embrace the fusion of style and functionality at a price that speaks volumes.
If you need to prepare for the approaching chills this winter, search no more. Chase away the Delhi’s chilly winter with our heaters. Embrace warmth and comfort without compromising on your budget. Beat the cold mornings with our winter offers on geysers. Step into a world of cozy showers and warmth to make your winters truly delightful.
Warm up your home affordably! Enjoy winter essentials with EMI. Bring comfort home without a financial freeze. Sip warmth this winter! Explore our winter offers on kettles. Elevate your tea or coffee experience with these pocket-friendly deals. Cook up a storm this winter! Our microwaves, bring convenience to your kitchen. Unleash culinary creativity without burning a hole in your pocket.
Stay cozy or cool as you please! Enjoy up to 40% off on hot and cold ACs. Create the perfect ambiance in your space without compromising on savings. And here’s exactly what you needed this winter! Check out our winter offers on egg boilers, making breakfast easy and affordable. Brew happiness in every cup! Explore our winter offers on coffee makers. Elevate your coffee ritual without burning a hole in your pocket.
Getting ready for an important meeting or wedding party with no time to spare? Fret not, Style it hot, and style it right! Grab our ionic hair dryers. Embrace winter with flawless hair without compromising your budget.
The festive season is incomplete without throwing memorable parties for your friends and family. and every party is incomplete without party essentials that promise fun and merriment. At the Vijay Sales EYOS, you can get the best party equipment and essentials at the best of prices.
Discover affordability and hi-def sound at its best with audio speakers. Elevate your shopping experience without straining your budget. Immerse yourself in music without breaking the bank! Headphones and neckbands. Tune into savings and superior sound quality. Style your way through savings! Hair styling products starting. Achieve the perfect look without compromising your budget. Grooming made affordable! Men’s grooming essentials. Elevate your grooming routine without the extra cost. Clean up the smart way! with Vacuum cleaners. Transform your cleaning routine with these budget-friendly and efficient solutions.
So, don’t miss out on the opportunity to elevate your festive celebrations with Vijay Sales’ Christmas Sale, where joy and savings go hand in hand.
20, Dec 2023
Only 18% borrowers understand the data privacy Guidelines; EMI cards remain popular medium of credit, reflects Home Credit India’s How India Borrows Survey 2023
- Consumer Durable and business needs continue to be the key reason for borrowing in 2023.
- Growing acceptance of digitalisation of financial services with 29% borrowers opting for online loans; 51% desire to shift to online channels for their next loan.
- Only 18% borrowers understand the data privacy rules, majority of them (88%) with just the superficial understanding on the subject.
- EMI cards continue to be the most preferred medium to take loans, accepted by 49% of the borrowers.
- WhatsApp is an emerging digital channel for loan with 59% of borrowers having received loan messages on WhatsApp.
- More people in tier 1 & 2 cities express interest in learning about finance.
Hyderabad/New Delhi, 20 December 2023: Home Credit India, a local arm of the leading global consumer finance provider, on Tuesday launched their annual How India Borrows Survey 2023, which aims to understand the constantly evolving consumer borrowing behaviour. Since 2021, the trend in borrowing had shifted from running the household to buying consumer durable such as smartphones & home appliances (44% in 2023). While consumer durable loans decreased by 9%, business-related borrowing increased by 5%, making it a total of 19% middle class borrowing to expand or to start a new business.
Most of the borrowers in the study are online pro, with 48% relying on online shopping for their personal purchases. 44% of these borrowers rely on online banking for financial transactions. More than half (54%) comfortable with mobile banking for day-to-day financial updates.
Another major highlight is the growing acceptance of digitalisation of financial services. As per the HIB 2023, over one-fourth of borrowers opted for online channel for availing loans. Loans initiated through tele calling increased by 3% (from 16% in 2022 to 19% in 2023), while loans through POS/ bank branches saw a decline by 4% (from 56% to 51%).
In line with the digital transition, more than half of the borrowers (51%) are looking forward to completing their entire future loan application on mobile App without any physical interaction with POS/ Banks. The preference for online loan mediums is primarily driven by younger and aspirational small-town borrowers, with cities like, Dehradun at 61%, Ludhiana at 59%, Ahmedabad at 56%, and Chandigarh at 52%.
Embedded finance has gained traction in the recent years with 50% borrowers open to embrace the same during e-shopping. However, the uptake for the product among borrowers has come down by 10% from 2022 due to stringent RBI regulations on BNPL & PPI products leading to fewer offers. It is preferred as it makes borrowing faster and makes ecommerce shopping an easier process. EMI cards (49%) continue to be the most preferred medium for taking credit due to higher trust and faster disbursals.
Speaking on the consumer study, Ashish Tiwari, Chief Marketing Officer, Home Credit India, said “At Home Credit India, we are dedicated to fostering financial literacy and empowering individuals to make informed choices. The survey not only highlights the preferences of today’s borrowers but also emphasizes the need for greater awareness of data privacy. As we navigate this digital era, Home Credit remains committed to providing trustworthy, transparent and accessible financial solutions, ensuring a responsible and inclusive financial future for all.”
The HIB Study was conducted across 17 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Ahmedabad, Lucknow, Jaipur, Bhopal, Patna, Ranchi, Chandigarh, Ludhiana, Kochi, and Dehradun. The sample size is approx. 1842 borrowers in the age group of 18-55 years, with an average income of Rs. 31,000 per month.
As India accelerates into the digital lending era, the study underlines a critical concern among borrowers regarding the usage of their personal data by loan companies. Only 18% borrowers understand the data privacy rules, majority of them (88%) with just the superficial understanding on the subject. About 60% borrowers are worried about how their personal data is collected and used by the lending apps. 58% of these worried borrowers also feel that the lending apps collect more data than required. Gen Z and borrowers from smaller towns show higher concern with the amount of data being collected by lending apps. Among metros, 78% of borrowers from Chennai voice their concern about the amount of data collected.
Less than one-fourth (23%) of the borrowers understand about the usage of their personal data by loan apps. Borrowers from Chennai seem to be more digitally advanced and 76% of them claim to understand the usage of personal data. Almost 60% of the borrowers in India voice out that they don’t have any control on the data being shared by them, more so by borrowers from tier 1 towns. 70% of the borrowers feel the need of transparent communication on the usage of personal data. This is mostly driven by males and Gen Z. Borrowers across geographies except South seem to have a similar opinion.
In terms of digital literacy, 23% of the middle-class borrowers have heard/seen about the chatbot service in the past. 43% borrowers find chatbot service as easy to use, led by Women, & Gen Z. WhatsApp is an emerging digital channel for loan with 59% of borrowers having received loan messages on WhatsApp. However, only one-fourth borrowers consider loan offers received on WhatsApp as trustworthy, with Gen Z showing more trust towards this.
As interest in financial education is growing in the country, 39% of borrowers said they would like a reputed organization to educate them about finance related tasks over the internet with GenZ showing maximum interest. Smaller towns like Ludhiana (57%), Patna (55%) and Bhopal (48%) show higher interest in financial learning.
20, Dec 2023
MMTC-PAMP is India’s first precious metals company to have science-based emissions reduction targets approved by the SBTi
· MMTC-PAMP has set science-based targets consistent with limiting climate warming to 1.5°C
· To reduce absolute scope 1 and 2 GHG emissions 47% by FY 2029/2030 from an FY 2018/2019 base year
· MMTC-PAMP has already implemented 705 kWp of solar energy panels, actively contributing to decarbonization and minimizing its carbon footprint
Bengaluru, 20 December 2023: MMTC-PAMP, India’s only London Bullion Market Association (LBMA) Good Delivery gold & silver refinery, reinforces its commitment to sustainability as the first precious metals company in India to have science-based carbon emissions reduction targets approved by the Science Based Targets initiative (SBTi). This marks a pivotal milestone for MKS PAMP GROUP as both MMTC-PAMP and MKS PAMP commit to carbon emission reduction targets.
MMTC-PAMP India Private Limited commits to reduce absolute scope 1 and 2 GHG emissions 47% by FY2029/2030 from a FY2018/2019 base year. MMTC-PAMP India Private Limited also commits to reducing absolute scope 3 GHG emissions by 27.5% within the same timeframe. Continuing its ongoing commitment to sustainability, MMTC-PAMP, among other initiatives has also recently implemented 705 kWp of solar energy panels, actively contributing to decarbonization and reducing its carbon footprint.
Commenting on the target approval by the SBTi, Mr. Vikas Singh, Managing Director and CEO, MMTC-PAMP India Private Limited said, “We are proud to be leading our industry in this transformation and are deeply devoted to making a substantial impact in our environmental engagement. In line with this vision, we have set forth a robust commitment to drive meaningful change in our carbon footprint.”
“Today, we welcome MMTC-PAMP’s science-based targets consistent with limiting warming to 1.5°C,” said Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative. “The ambition of MMTC-PAMP’s targets is aligned with the need for the global economy to rapidly cut emissions. This company is setting an example for the rest of its industry, and I urge others in its sector to set their targets too.”
The Science Based Targets Initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
MMTC-PAMP’s commitment towards sustainability and the approval from the SBTi underscores MKS PAMP GROUP’s ambition to accelerate its sustainability agenda across its companies.
