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  • BMW Group India launches BMW 3 Series Gran Limousine M Sport Pro

    Hyderabad: The new BMW 3 Series Gran Limousine M Sport Pro Edition has been launched in India. Locally produced at BMW Group plant, Chennai, the car is available in the 330 L petrol variant at all BMW India dealerships and BMW online shop with immediate effect.

    Vikram Pawah, President, BMW Group India said, “The BMW 3 Series Gran Limousine is a modern masterpiece that uniquely encapsulates attractive sporty proportions, astonishing dynamics, state-of-the art technology as well as an exceptionally spacious interior. In its M Sport Pro avatar, the car is not just bolder, but also offers the best-in-class technology. With its excellent driving capabilities, the new BMW 3 Series Gran Limousine M Sport Pro Edition stays true to its reputation of being the ultimate sports sedan. The limited edition will attract young, progressive Indian buyers who aspire for a pure blend of elegance and sovereignty with the sportiness of the iconic BMW 3 Series.

    The new BMW 330Li M Sport Pro is available at an ex-showroom price of INR 62,60,000.

    The new BMW 3 Series Gran is available in four metallic colours – mineral white, skyscraper grey, carbon black and portimao blue. Exclusive M headliner anthracite upholstery is offered as standard on the new BMW 3 Series Gran Limousine M Sport Pro Edition.

    The features of the new BMW model

    The enhanced exterior body design features are more expressive and powerful than ever. The backed out kidney grille adds to the aggressive front look of the new model. The standard Adaptive LED headlights ensure consistent illumination of the road ahead, even when cornering. They are accentuated by the M Lights Shadowline which offers a dark tint around the headlamps. The outer daytime driving light elements also serve as turn indicators. The models stretched silhouette underscores its inherent elegance and hints at the enviable spaciousness of the interior. The Rear Diffuser in High Gloss Black enhances the bold appearance when seen from behind.

    The interior offers a modern space with a focus on driving enjoyment. High quality materials, precise build quality and numerous meticulously crafted details set the tone for the refined premium character of the four-door sedan. The progressive design of the cockpit is accompanied by a larger surface for the interior trim strip integrated into the instrument panel. Added to this, the car comes with illuminated door sill plates. The modern design of the centre console with galvanic embellisher adds to the cabins premiumness. The standard M Headliner Anthracite upholstery adds to the exclusiveness inside the car. The driver and front passenger settle into electrically adjustable comfort seats lapped in genuine leather vernasca. Filling up the cabin with a sense of spaciousness is the large Panorama sunroof. Ambient Lighting with six dimmable designs creates an atmosphere for every mood. In another model-specific feature, the ambient lighting also includes an illuminated contour strip on the back of the front seats. The three-zone automatic climate control with active carbon filters optimizes air quality. The optimised acoustic properties reduce noise levels and make the journey peaceful.

    Thanks to unrivalled BMW TwinPower Turbo technology, the petrol engine melds maximum power with exemplary efficiency and offers spontaneous responsiveness even at low engine speeds. The two-litre four-cylinder petrol engine of the new BMW 330Li M Sport Pro Edition produces an output of 258 hp and maximum torque of 400 Nm at 1,550-4,400 rpm. The car accelerates from 0 -100 km / hr in just 6.2 seconds.

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

    The new BMW 3 Series Gran Limousine M Sport Pro Edition features the BMW Curved Display which brings extra modernity and operates on the BMW Operating System 8. A host of BMW ConnectedDrive technologies continue to break the innovation barrier in automotive industry. Modern cockpit concept BMW Live Cockpit Plus includes 3D Navigation, a 12.3-inch digital instrument display behind the steering wheel and a 14.9-inch Control Display. Innovations of the BMW ConnectedDrive turn the car into an interconnected device creating a digitally connected environment for the customers. BMW ID acts like a central login securely synchronising data and is automatically linked to the smart My BMW App, a new universal interface for all requirements in the BMW ecosystem. Customers can plan their next trip, check the status of their BMW, set personalised car settings, book the next service appointment or use one of the numerous remote-control functions – all conveniently from a smartphone. The car is always up to date with the latest functions and digital products being brought over-the-air through BMW Remote Software Upgrades.

    Occupants can operate numerous car functions simply by speaking to their BMW Intelligent Personal Assistant. The smartphone holder integrated into the centre console allows inductive, wireless charging for mobiles. Smartphone connection via wireless Apple CarPlay Android Auto opens up access to a range of functions and apps. The car has a Harman Kardon Surround Sound system with 16 loudspeakers. The central air vents positioned below the control display are now slimmer and more modern in design.

    Park assistant plus with surround view camera makes parking in tight spots easier by taking over acceleration, braking as well as steering. The new parking assist plus also enables customers to have a remote 3D view of the car via the My BMW App. BMW driving assistant provides blind spot detection and helps warn the driver for lane changes, front collisions, and rear collisions.

    BMW Efficient Dynamics includes features such as 8-speed steptronic sport automatic transmission, auto start-stop, brake-energy regeneration, electronic power steering, 50:50 weight distribution and ECO Pro mode in driving experience control.

    The BMW safety features include six airbags, attentiveness assistance, dynamic stability control (DSC) including cornering brake control (CBC), electric parking brake with auto hold, side-impact protection, electronic vehicle immobiliser and crash sensor, ISOFIX child seat mounting and integrated emergency spare wheel under the load floor.

  • India Shelter Finance Corporation Limited AUM Crosses Rs. 6,084 Crores in FY24, Registers YoY Growth of 40%

    • AUM as of FY24 at Rs. 6,084 Crs, development of 40% YoY

    • PAT at Rs. 248 Crs for FY24, development of 59% YoY

    • GNPA improved by 16 bps to 1.0%

    • RoA & RoE at 4.9% and 14.0% for FY24

    Investor Release

    The Board of Directors of India Shelter Finance Corporation at its assembly held as we speak, authorised the audited monetary outcomes for quarter and full 12 months ended March 31, 2024.


    Key Performance Metrics

    Particulars (Rs. Crs)

    Q4FY24

    Q4FY23

    YoY

    Q3FY24

    QoQ

    FY24

    FY23

    YoY

    AUM

    6,084

    4,359

    40%

    5,609

    8%

    6,084

    4,359

    40%

    Disbursements

    747

    603

    24%

    679

    10%

    2,646

    1,964

    35%

    Spread (%)

    6.1%

    6.0%

    6.0%

    6.1%

    6.0%

    Opex/AUM

    4.4%

    4.7%

    4.4%

    4.5%

    4.9%

    PAT

    78

    53

    47%

    62

    25%

    248

    155

    59%

    RoA (%)

    5.4%

    5.1%

    4.7%

    4.9%

    4.1%

    Gross Stage 3 (%)

    1.0%

    1.1%

    1.2%

    1.0%

    1.1%

    Commenting on the efficiency, Mr. Rupinder Singh, Managing Director, and CEO of India Shelter Finance Corporation stated, “It has been a great 12 months for India Shelter, marked by sturdy monetary efficiency and speedy footprint enlargement for sustaining excessive development. This 12 months additionally marked a big milestone for us with the completion of our Initial Public Offering and subsequent itemizing on the NSE & BSE on 20th December 2023. This momentous event was the fruits of years of dedication and perseverance. It was a surreal and humbling expertise as we rang the ceremonial bell, ushering in a brand new period of development and alternative for India Shelter.

    India Shelter now operates out of 223 branches in 15 states. We added 40 new branches in FY24. During the 12 months, we witnessed sturdy AUM development of 40% YoY, led by a 35% YoY improve in disbursements. Our margins remained in line with our steering for the medium time period at 6%. In phrases of asset high quality, our stage 3 improved by 16bps YoY to 1.0%.

    I’m delighted to tell you all that in the present tight liquidity state of affairs, India Ratings and Research has assigned AA- (Stable) as our long-term score.

    As we glance forward, we stay decided to pursue offering reasonably priced housing options and empowering the underserved segments of our society. With our sturdy basis, progressive spirit, and dedication to excellence, we’re assured in our skill to create long-term worth for all our stakeholders whereas positively impacting the lives of numerous people and communities.”

    Distribution:

    • The firm continues to deepen its presence by including 8 new branches through the quarter. The firm has 223 branches in 15 states as of thirty first March’24.

    Asset Quality & Provisions:

    • Gross Stage 3 and Net Stage 3 improved to 1.0% and 0.7% as of thirty first March 2024 as in opposition to 1.1% and 0.8% as of thirty first March 2023

    • 30+ DPD steady at 2.4% as of thirty first March 2024

    • Credit Cost for the quarter steady at 0.4%

    Borrowings & Liquidity:

    • Networth at Rs. 2,299 Crs as of March’24. The firm continues to hold a liquidity of Rs. 1,210 Crs as of March’24.

    • In Q4FY24, price of funds was maintained at 8.8%.

    Profitability:

    • Profit after tax grew 59% YoY to Rs. 248 Crs in FY24 as in opposition to Rs. 155 Crs in FY23

    • Profit after tax grew by 47% YoY to Rs. 78 Crs in Q4FY24 as in opposition to Rs. 53 Crs in Q4FY23

    • RoA improved to 4.9% in FY24 from 4.1% in FY23

    • In This autumn, the corporate delivered RoA of 5.4% as in opposition to 5.1% in Q4FY23

    • RoE stood at 14% for FY24

    About India Shelter Finance Corporation

    India Shelter offers reasonably priced dwelling loans and mortgage in opposition to property in Tier 2 and three geographies in India. India Shelter offers dwelling loans to prospects from low-and middle-income segments who’re constructing or shopping for their first houses. The firm has a powerful distribution moat with its Pan-India community in 15 states by way of 215 branches and maintains a granular portfolio. The firm is being run by an skilled skilled administration workforce backed by marquee buyers.

    Disclaimer

    Forward-looking statements regarding the Companys future enterprise prospects and enterprise profitability are topic to a quantity of dangers and uncertainties and the precise outcomes may materially differ from these in such forward-looking statements. The dangers and uncertainties relating to those statements embody, however are usually not restricted to, dangers and uncertainties concerning fluctuations in earnings, our skill to handle development, competitors (each home and worldwide), financial development in India and overseas, skill to draw and retain extremely expert professionals, time and price over runs on contracts, authorities insurance policies and actions rules, curiosity and different fiscal prices usually prevailing in the economic system. The Company doesn’t undertake to make any announcement in case any of the forward-looking statements change into materially incorrect in the longer term or replace any forward-looking statements made once in a while by or on behalf of the Company.

  • Sport Star Academy Australia’s Leading Grassroots Academy Joins Forces With Franchise India For Business Expansion In India

    INDIA: Sport Star Academy, one of the leading sports academies in Australia run by professional coaches is excited to announce its entry into the Indian market through a strategic collaboration with Franchise India, Asia’s largest integrated Franchise and Retail Solution Company since 1999, with absolute authority on Franchising, Retailing, and Licensing.

    This exciting alliance marks a significant milestone in the company’s global expansion strategy and also aims to revolutionize the sports academy franchise landscape in India.

    The Academy has delivered across 330 school avenues and 100 franchises across Australia. The key objective for its expansion in India is to provide young players with access to high-quality training and development opportunities by focusing on mental well-being.

    With exceptional achievements in Australia, Sport Star Academy has rapidly emerged as a quality children’s sports programs academy for creating a movement of change for tomorrow’s grassroots leaders. Starting over from only one sport, Football Star Academy in 2010 to 12 sports in 2024, the journey has been commendable for the company.

    Commenting on the business expansion, Peter Nikolakopoulos, Founder and CFE, of Sport Star Academy stated “As we expand Sport Star Academy into the vibrant and diverse market of India, we are not just bringing coaching expertise, we are igniting a passion for sports and fostering a culture of excellence within local communities. Our goal is to empower young players with the skills, confidence, and values they need to succeed, both on and off the field. Through Sports Star Academy in India, we aim to make a lasting impact, shaping future leaders and champions who will inspire generations to come”.

    Gaurav Marya, Chairman, Franchise India Group also expressed the excitement of collaboration, saying “The sports business in India is rapidly expanding and represents the next great opportunity. Training is the first and most important phase in professional sports, and it should begin from an initial stage. If we want to develop Olympic athletes in the next 20 years, we must train them to begin playing at the age of 4-5 years. This alliance will result in a significant revolution in the sports business”.

    The two companies are collectively set to drive growth in the sports industry with three key objectives: skill-based development, mental well-being and community building. By encouraging children and adolescents to engage in regular physical activity through organized sports programs, Sport Star Academy can contribute to reducing sedentary lifestyles and combating issues like childhood obesity.

    Through its programs, Sport Star Academy aims to help young athletes in India build strong mental foundations, equipping them to navigate life’s challenges both on and off the field. By establishing sports programs in Indian communities, Sport Star Academy can contribute to community cohesion and foster a sense of belonging among participants which can lead to stronger social ties, increased civic engagement, and a more inclusive society.

  • Sobhita Dhulipala set to walk for Magnum India at Ca

    May eighth, 2024: Building on the illustrious heritage of crafting beautiful premium ice lotions, Magnum India has equipped to dazzle at the celebrated Cannes Film Festival alongside – Sobhita Dhulipala. The collaboration guarantees to merge indulgence with magnificence, promising an unforgettable expertise of luxurious and elegance.

    sobhita

    With a legacy deeply rooted in vogue and luxurious, Magnum believes a day with out pleasure is a day misplaced. Through this affiliation, Magnum goals to dive deeper into the realms of ardour, pleasure, creativity, and flexibility.

    In addition to Sobhita’s charming look on the brown carpet, she might be attending the unique Magnum occasion and the Magnum lounge with celebrated names like Troye Sivan and Mura Masa. It is an evening of custom-dipped decadence, mind-blowing installations and pleasure stations designed to transport Pleasure Seekers to immerse in a world of indulgence and permit themselves to go Wherever Pleasure Takes You.

    “Partnering with Sobhita Dhulipala for this 12 months’s Cannes Film Festival embodies every little thing Magnum ice cream stands for—sophistication, boldness, and the pleasure of indulgence,” mentioned Shiva Krishnamurthy, Executive Director HUL– Foods & Refreshment. “Cannes not solely celebrates cinematic artwork but in addition serves as a showcase for timeless magnificence and daring creativity, very like Magnum’s ice lotions. Sobhita’s vibrant presence and fashion-forward fashion superbly aligns with our pursuit of crafting experiences which might be as visually gorgeous and delectable. This affiliation at Cannes highlights our steady dedication to being at the forefront of delight and luxurious, delighting our viewers in new and thrilling methods.”

    Speaking on the event Sobhita Dhulipala provides “Taking my journey with Magnum a notch increased with the Cannes Film Festival is each thrilling and symbolic of my relationship with the model, the place we progress alongside creating vibrant reminiscences. This expertise permits me to create these moments of delight as this affiliation is an ideal mix of vogue, movie and flavour. I’m trying ahead to showcasing how Magnum ice cream transforms on a regular basis indulgence into one thing really spectacular.”

    This collaboration at Cannes marks a momentous event for each Magnum India and Sobhita Dhulipala, completely encapsulating the spirit of creativity and luxurious. With a mix of vogue, movie, and flavour, this partnership units a brand new commonplace for indulgence, making certain that the ‘Magnum expertise’ stays unforgettable lengthy after the pageant lights dim.


    Mansi Praharaj

  • Discover the Powers of Bullet Echo India’

    Assemble Your Squad: Discover the Powers of Bullet Echo India’s HeroesAttention mobile-gamers! Brace yourselves for a recent tackle battle royale with Bullet Echo India. KRAFTON India and Zeptolab’s newest free-to-play cell shooter emphasizes strategic pondering and techniques. Experience a singular top-down view with restricted flashlight visibility, including a brand new layer of problem. Get to know the common heroes, every boasting particular skills, and workforce up with associates to overcome the recreation immediately!

    Stalker: Ghost in the Machine 

    With the capability to fade into skinny air, Stalker excels at flanking enemies and launching shock assaults. Master the artwork of silent motion and change into a shadow, placing worry into unsuspecting opponents.

    Players can even avail the BGMI pores and skin for Stalker without spending a dime by logging in for 10 days.

    Skills:

    • Invisibility – The hero turns into invisible for a restricted time, however any injury taken removes the invisibility impact!
    • Team therapeutic – The hero restores well being to himself and allies inside a particular vary however is slowed down throughout the course of
    • Passive abilities – Reduction in heroes’ operating loudness, enhance in most well being and motion pace and extra 

    Sparkle: Shotgun Maverick 

    An ambusher-class shotgun person, when the squad wants a well being enhance, Sparkle delivers. This hero gives constant assist, conserving teammates in the battle with therapeutic auras and dealing injury along with her highly effective grenades. Sparkle’s presence might be the distinction between victory and defeat.

    Skills:

    • Grenade – The hero tosses a grenade that detonates after some time, dealing heavy injury to all the pieces in the affected space
    • Team restoration – Restores well being and armor to heroes and allies inside a particular vary
    • Passive abilities– Increase in hero’s motion pace, weapon injury, most well being and extra 

    Bastion: The Walking Fortress

    Bastion supplies a robust protection for you and your workforce. He is supplied with a fast-firing, medium-damage minigun. He can deploy a protect, making a protected haven for your self and your allies. Bastion excels at absorbing enemy hearth, making them the excellent anchor for your workforce. This playstyle is good for gamers who get pleasure from supporting their squad from the frontline.

    Skills:

    • Shield – The Hero creates a cell protect which has excessive sturdiness and stops injury from most weapons. Hero’s motion pace is decreased throughout protect deployment
    • Battle package – Restores well being and armor for the hero.  While in use, the Hero is slowed down for a brief quantity of time loses taking pictures capability for the similar length.
    • Passive abilities – Increase in hero’s armor, well being, weapon injury and extra


    Mansi Praharaj

  • Vice-President Of India Shri Jagdeep Dhankhar Inspires Graduates At BIMTECH’s 36th Convocation


    Left to Right-Dr. Prabina Rajib, Jayashree Mohta, Shri Jagdeep Dhankhar, Vikash Kandoi, Ajit Ranade

    NEW DELHI:  Birla Institute of Management Technology (BIMTECH), a leading B-School in India, successfully held its 36th Annual Convocation on 6th May 2024 at Jaypee Greens Sports Complex, Greater Noida. The landmark ceremony was dignified with the presence of the Honorable Vice-President of India, Shri Jagdeep Dhankhar.  With pumping hearts and eyes glued to the stage the students eagerly waited to receive a motivational address by Shri Jagdeep Dhankhar. The flagship event was also graced by the esteemed Chairperson of the Board of Governors, Smt. Jayashree Mohta and Dr. Prabina Rajib, Director, BIMTECH.

    Inspiring the students, Vice-President Jagdeep Dhankhar shared, “It is a great pleasure for me to be present here at the 36th Convocation of BIMTECH. I’m proud of the Women Reservation Bill we passed, and I’m seeing more women leading institutions. Jayashree Mohta, Chairperson of BIMTECH, is a true example of giving back to society, hence, I invite your faculty and your students to visit the new building of parliament and we’ll have the occasion to interact there also”. He further advised the graduates,” As you graduate, remember to nurture economic nationalism and promote value addition in India. You are the future leaders driving economic, technological, and social progress. Embrace change, be persistent, and never fear failure. Congratulations and best wishes to all of you.”

    The jubilant event witnessed the graduation of 478 students with flying colors. The illustrious affair rewarded degrees to the graduating cohorts from PGDM, PGDM-International Business (IB), PGDM-Retail Management (RM), and PGDM-Insurance Business Management (IBM). During the inaugural address, Smt. Mohta, said,” This Convocation marks a milestone, not only for the students but also for the entire BIMTECH community. We are extremely proud of the achievements and growth in the batch size. Today we’re here to celebrate the culmination of years of hard work and dedication. As BIMTECH’s graduates gear up to navigate the corridors of professionalism, I wish them the best to become capable leaders and changemakers.”

    Presenting the annual progress report, Dr. Prabina shed light on BIMTECH’s legacy and shared, “Maintaining the BIMTECH standards, the past year’s advancements are a testament to our perennial focus on nurturing talent. This Convocation is the epitome of academic brilliance and celebration.” She further suggested to the students, “Embark on your professional journeys with passion and embrace your uniqueness.  I extend my heartiest wishes to all our graduates for their future endeavors.”

    BIMTECH has signed an MOU with Singapore Management University (SMU) for an ‘Inclusive and Immersive Experiential Learning (I2XL) Programme’ under which five BIMTECH students have been selected to visit SMU for an intensive Executive Development Programme. BIMTECH plans to scale up the numbers in the forthcoming years.

    The event also celebrated 12 highly ambitious degree holders by rewarding their exceptional academic attainment. Gold medals were handed over for securing the overall first position to Mr. Nitesh Shah in PGDM, Ms. Aanchal Mittal in PGDM (IB), Ms. Ritika Srivastava in PGDM (IBM), and Ms. Sanskriti Khare in PGDM (RM). Special medals were awarded for securing the first position to Ms. Devanshi (The Marketing Specialization Stream), Mr. Parth Aggarwal (The Operations Specialization Stream), Mr. Nitesh Shah (The Finance Specialization Stream), and Mr. Agam Mishra (The HR Specialization Stream). Dr. C.B. Gupta Memorial Medal was honored to Mr. Shashwat Tandon of PGDM (IB) for all-around best performance among male students. Smt. Yashoda Jaju Memorial Medal for all-around best performance among female students was awarded to Ms. Kriti Singh PGDM (IB). Smt. Madhuri J. Sheth Award for best academic performance among female students was awarded to Ms. Aisha Asija (PGDM) and Ms. Aanchal Mittal PGDM (IB). Dr. Ashutosh Kumar was acclaimed with the Jagdish N Sheth Best Thesis Award 2023.

    The institute thrives on a symbiotic relationship, embodying excellence in management education with its 7000+ strong alumni base. BIMTECH proudly announces that Ms. Surbhi Goel, an alumna, has become the first female CEO (designate) of Munich Re India, and another alumnus, Mr. Nainoor Desai, has become the Business Corporate at SBI General Insurance.

    Inspired by its founder late Basant Kumar Birla, BIMTECH pioneers innovative programs like PGDM, PGDM-International Business (IB), PGDM-Retail Management (RM), and PGDM-Insurance Business Management (IBM), nurturing individuals into global leaders. BIMTECH proudly holds the 48th position in the Management Category in NIRF-National Institutional Ranking Framework 2023 and secures the 17th rank among the top private B-Schools in India, as per Business Today-MDRA Best B-Schools Ranking 2023. Also, BIMTECH IS NOW AACSB ACCREDITED, joining the IVY League of Top Globally Recognized B-Schools. Fostering a symbiotic relationship, the institute excels in management education, supported by its globally placed robust alumni network of over 7000 individuals.

  • Magenta Mobility and Switch Mobility partner to deploy 500 SWITCH IeV4 eLCVs for delivery across India • EVreporter

    Magenta Mobility, an E-Mobility solutions provider, and Switch Mobility, the EV arm of the Hinduja Group, have partnered to deploy eLCVs for last-mile and mid-mile delivery across India. They have signed an MoU for 500 units of the SWITCH IeV4 over two years. The announcement was made during a ceremony where Mr. Maxson Lewis and Mr. Mahesh Babu handed over the vehicles.

    The partnership combines Switch Mobility’s electric vehicle technology with Magenta Mobility’s service portfolio, focusing on logistics, charging, and technology. The SWITCH IeV4 offers a 32.2 kWh battery, 1700 kg payload capacity, and a range of 120 km. It features a 60 kW motor and 230 Nm torque. The vehicle is equipped with the SWITCH iON system, a connected technology telematics solution. The collaboration aligns with Magenta Mobility’s plans to strengthen the eLCV segment and deploy 10,000 electric vehicles by September 2025, according to the company statement.

    Speaking on the occasion, Maxson Lewis, Founder & CEO of Magenta Mobility, expressed his enthusiasm about the partnership, stating, “We are thrilled to join hands with Switch Mobility to accelerate our commitment to decarbonize logistics in India. This collaboration underscores our unwavering dedication to spearheading the transition towards safe, smart, and sustainable mobility solutions. With these eLCVs, we will be able to offer an increased payload capacity to our clients. Combined with our existing fleet management, charging and technology platforms, we will be offering a strong opportunity for the logistics sector to go electric. This is just the beginning of our association and together, we aim to redefine the future of logistics in India.”

    Mahesh Babu, CEO, SWITCH Mobility Ltd., said “As the global urban mobility landscape experiences a transformative shift towards electric vehicles, we at Switch Mobility take pride in our position at the forefront of this historic evolution. Our SWITCH IeV4 which is India’s first eLCV in 3.5-ton category is built on a cutting-edge 310V high-voltage architecture for enhanced performance. With a superior payload, extended range and maximised volumetric space, the vehicle offers a significantly better TCO. This game-changer will accelerate progress towards a sustainable future. The strategic partnership with Magenta Mobility strengthens our commitment to a cleaner future. Renowned for their innovative approach to logistics, Magenta Mobility brings a data-driven perspective that perfectly complements our vision. This collaboration is more than just adding vehicles to Magenta’s fleet, it marks a pivotal moment in redefining the transportation paradigm by integrating cutting-edge technologies and sustainable solutions to empower the future of mobility.”

    Also read: Magenta Mobility launches a 12- output EV charger called PLENT

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  • YES BANK and EBANX Announce Strategic Partnership to Empower Cross-Border Commerce in India

    MUMBAI, India and CURITIBA, Brazil, May 7, 2024 — YES BANK, a number one non-public sector financial institution in India, and EBANX, a world fintech firm specialised in cost options for rising markets, introduced right this moment a strategic partnership for cost processing in India, for the worldwide digital economic system. This collaboration represents a big milestone in the digital funds panorama, aimed toward streamlining cross-border cost processing and enhancing international commerce alternatives for international retailers and Indian clients in India.

    This partnership will leverage EBANX’s in depth international expertise and proficiency in cross-border funds alongside YES BANK’s digital prowess, to present international retailers with seamless entry to a collection of scalable cost options, crafted inside an revolutionary enterprise structure framework and aligned with the most recent regulatory tips.

    The whole proposition is meticulously tailor-made to go well with the distinctive dynamics of the Indian market, by providing a complete vary of native cost strategies, together with Unified Payments Interface (UPI), playing cards issued throughout all domestically obtainable networks, subtle recurring cost transactions, together with mandate administration providers, thereby enabling retailers to faucet into one of many world’s most quickly increasing economies and effectively navigating its quickly rising digital funds panorama.

    Mr. Ajay Rajan, Country Head – Multinational and International Business Transaction Banking, Government Banking and Knowledge Units, YES BANK, highlighted the strategic significance of this partnership, and stated, “Teaming up with EBANX completely aligns with our imaginative and prescient to provide Indian clients and international retailers a broader spectrum of digital monetary providers that help the quickly increasing international digital commerce enterprise volumes. YES BANK views this partnership as a strategic step in the direction of unlocking India’s cost acceptance capabilities for international retailers. By leveraging EBANX’s international experience and superior technological options, we’re poised to ship scalable cost options tailor-made for the Indian market, in the end fostering an surroundings conducive to digital inclusion and international commerce into India.”

    Ms. Paula Bellizia, President of Global Payments, EBANX, expressed pleasure in regards to the partnership, and stated, “Our partnership with YES BANK is pioneering new pathways for international companies to seamlessly combine and thrive throughout the Indian market. By combining YES BANK’s robust digital capabilities with our experience in cross-border funds, we’re set to revolutionize the way in which worldwide retailers have interaction with Indian shoppers. Instant, various funds have this transformational energy in rising markets. Considering UPI’s path in India up to now, and the Pix phenomenon in Brazil, it’s anticipated that UPI may even impression cross-border digital commerce for good in India.”

    The partnership announcement comes at a time when EBANX is actively working to reinforce its place in India, following its enlargement announcement into Asia final yr. India is the second-largest on-line purchasing market, with 350 million individuals. As projected by the final Beyond Borders examine, the world will see 109 million individuals being added to the buyer class this yr, and India alone might be chargeable for one-third of it. And but, cross-border funds throughout the digital commerce area signify solely 9% of the transactions (PCMI). This strategic partnership, combining technological innovation with regulatory compliance, is poised to create a ripple impact, benefiting not simply the 2 entities but in addition the broader ecosystem of retailers, shoppers, and the digital economic system in India and past. Through revolutionary cost options and a customer-centric method, YES BANK and EBANX are poised to prepared the ground in remodeling cross-border commerce and driving financial progress in India and past.


    Rekha Nair

  • ICICI Bank Enables NRI Customers To Use International Mobile Numbers To Make UPI Payments In India


    NRI customers residing in 10 countries can pay utility bills and merchants in India through iMobile Pay

    NRI customers residing in 10 countries can pay utility bills and merchants in India through iMobile Pay

    MUMBAI: ICICI Bank today announced that it has enabled NRI customers to use their international mobile number to make UPI payments instantly in India, thereby significantly enhancing their convenience of making everyday payments. With this facility, the NRI customers of the Bank can make payments for their utility bills, and merchant and e-commerce transactions with their international mobile number registered with their NRE / NRO bank account held with ICICI Bank in India. The Bank has made this service available through its mobile banking app, iMobile Pay. Earlier, NRIs had to register an Indian mobile number with their banks to make UPI payments.

    To bring forth this facility, ICICI Bank has leveraged the international infrastructure laid down by the National Payments Corporation of India (NPCI) for convenient usage of UPI across countries. The Bank offers this facility across 10 countries namely the USA, UK, UAE, Canada, Singapore, Australia, Hong Kong, Oman, Qatar, and Saudi Arabia.

    NRI customers of the Bank can make UPI payments by scanning any Indian QR code and sending money to a UPI ID or any Indian mobile number or Indian bank account.

    Speaking on the initiative, Sidharatha Mishra, Head of Digital Channels and Partnerships, at ICICI Bank said, “We are delighted to partner with NPCI to launch the UPI facility on international mobile numbers through iMobile Pay. With this facility, our NRI customers residing in 10 countries do not need to switch to an Indian mobile number to pay using UPI. This launch reinforces our commitment to provide our NRI customers with innovative solutions, for them to have a safe, secure, and hassle-free payment experience. We are witnessing a positive response from our NRI customers who have started using this facility. With this initiative, we intend to leverage NPCI’s UPI Infrastructure in strengthening and transforming the digital payments ecosystem globally”.

    Below are easy steps to activate the UPI facility on international mobile numbers using iMobile Pay:

    Step 1: Log in to the iMobile Pay app

    Step 2: Click on ‘UPI Payments’

    Step 3: Verify Mobile Number

    Step 4: Click on Manage –> My Profile

    Step 5: Create a new UPI ID (select from the suggested options)

    Step 6: Select the Account Number -> Submit

    To know more about UPI facility on international mobile numbers, please visit https://www.icicibank.com/nri-banking/money_transfer/money2india/upi

  • Tata Motors, M&M lead patents drive in India

    New Delhi: Domestic automobile majors Mahindra & Mahindra (M&M) and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year.

    M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office.

    “We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent,” M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said.

    M&M has so far been conferred 1,185 patents across multiple geographies. As of March 31, 2024, the company has 193 applications awaiting patent approval. Cumulatively, it has filed 2,212 patent applications to date. The auto major’s patents cover a range of functions, such as powertrain (ICE & EV), vehicle mechanical systems, electronics, manufacturing processes, electric tractors, and advanced engineering, among others.