June 2023 - Page 5 of 6 -

New Fair Lending Disclosure Guidelines to Enhance Trust Among Stakeholders: Fintech Convergence Council

The Fintech Convergence Council (FCC) welcomes the recent announcement by the Reserve Bank of India (RBI) introducing the Fair Lending Disclosure Guidelines (FLDG). These guidelines mark a pivotal moment in the evolution of the digital lending landscape, and the FCC acknowledges the positive impact they will have on the industry.

The FLDG are set to accelerate digital lending by fintech companies and anticipate a significant surge in funding for digital lending fintech. The digital lending segment witnessed remarkable investment inflows in 2022, and the FLDG will undoubtedly fuel its continued growth.

The FCC recognizes the importance of establishing proper frameworks within the banking sector to ensure compliance with the FLDG. These guidelines will empower banks to implement efficient processes that adhere to the regulatory framework while enabling them to scale their partner-led digital lending initiatives effectively.

Mr. Navin Surya, Chairman, Fintech Convergence Council, said, “The RBI's circular on Default Loss Guarantee arrangements in digital lending reflects their commitment to fostering innovation while ensuring responsible risk management. By conducting extensive consultations and issuing detailed guidelines separately, the RBI establishes a transparent and comprehensive regulatory framework, promoting trust and confidence in the digital lending ecosystem. This move will not only boost credit penetration but also encourage collaboration between fintech and regulated entities for the benefit of the economy.”

One key aspect of the FLDG is the emphasis on increased transparency within the lending ecosystem. Lending service providers (LSPs) will now be required to disclose all their relationships and portfolios, including any defaults, to relevant entities (REs). This heightened transparency will foster greater trust among stakeholders and enhance accountability within the industry.

While the guidelines may expose LSP-RE agreements to scrutiny by competitors, the FCC believes that this will encourage healthy competition and drive further improvements in the lending sector. The guidelines offer an opportunity for fintech companies to showcase their capabilities and maintain high standards while ensuring fair lending practices.

The FCC commends the Reserve Bank of India for its proactive approach to implementing the FLDG, which will undoubtedly shape the future of digital lending in India. These guidelines will empower stakeholders to embrace innovation, strengthen partnerships, and foster a transparent and resilient lending ecosystem.

“pTron Launches Playbuds 2: Where Speed Meets Sound. – Enjoy Unparalleled 40ms Low Latency and AI-ENC Technology”

· Immerse Yourself in Ultimate Gaming Sound: AptSense® 40ms low-latency and AI-ENC for an immersive gaming experience

· Experience the unlimited gaming experience with 45hours of playtime at an introductory price of 899/- only on Amazon

pTron, a leading player in the Indian consumer electronics market that has established its leadership position in the TWS category, is proud to announce pTron Playbuds 2 in its latest line of gaming audio products. The new gaming earbuds dubbed with AptSense® 40ms low latency for best gaming experience and 45 hours long playtime for gaming-grade audio performance on PC or Mobile devices.

Acknowledged as the best earbud for those long gaming sessions, engineered with cutting-edge AI – Environmental Noise Cancellation (AI-ENC) TruTalk^TM technologies, pTron Playbuds 2 offers an exceptional audio experience that transcends all boundaries and shall be available on Amazon from 9th May 2023 for an introductory price of 899/- only.

§ AptSense® 40ms low latency technology: AptSense® 40ms low latency solution provides an immersive and acoustic audio experience for gamers, unlike any other wireless earbuds. Each earbud audio drivers deliver deep powerful bass, and high sound quality, designed specifically to meet gaming user needs. The multi-function touch control on the earbud provides tactile and intuitive control, allowing the user to move seamlessly between gaming and calls

§ Unlimited gaming experience with 45-hours playtime: Meeting one of the crucial requirements of gamers, Playbuds 2 is powered with battery that can support up to 45-hours playback-time on a single charge

§ While Bluetooth 5.3 delivers an effortless transmission with stability, 13mm Dynamic Bass Boost Drivers will definitely make high-quality audio experience that is essential for gaming need.

Announcing the launch of the new gaming TWS, Mr. Ameen Khwaja, Founder & CEO, pTron said, “With Playbuds 2, gamers can enjoy all the benefits of premium wireless gaming audio and unrivalled comfort, without any interchanges. The earbuds are specifically designed to enhance the gaming experience by providing clear and immersive sound, comfort during long gaming sessions, and features tailored for gaming needs.”

Coupled with a 1-year warranty, The Playbuds 2 comes in Black. For the launch on Amazon, the Playbuds 2 will retail at a special price of INR 899/- as against the regular price of INR 1299/- from 9th May 2023.

#GameGoodEveryday

Product Link: https://www.amazon.in/dp/B0C1PSBYKP

pTron Playbuds 2 Technical Specifications:
Bluetooth Version	BT v5.3 with 10m range, 1-step pairing & auto-reconnect
Driver size	13mm Dynamic Bass Boost drivers
Audio Technology	AI- Environmental Noise Cancellation TruTalk™ AI-ENC
Playtime	Up to 45 Hours with charging case
Charging Case	(400mah) Type-C Charging Case
Product Weight	32g Charging case, 4g each earbud
Other Features	Touch Controls with Voice Assistant + IPX4 Water resistant Dual modes Music and Game

The IKEA Foundation pledges more than 11 million Euros in emergency humanitarian aid for Sudan

Nearly 1.4 million people have been displaced within Sudan or to neighbouring countries since the conflict erupted on April 15

The IKEA Foundation has donated €5 million to Médecins Sans Frontières – Doctors Without Borders (MSF) to provide urgent medical care and supplies to people affected by the recent fighting in Sudan. It has also donated €6.7 million to Better Shelter to deploy 3,000 units to meet the immediate shelter needs of people displaced by the deadly conflict.

Intense fighting broke out in Khartoum, Sudan on 15 April and has since spread to other parts of the country. Local hospitals have been overwhelmed as people arrive with serious injuries caused by gunshots, explosions and airstrikes. The country’s health system, which has been struggling for decades, is facing a huge increase in needs and a shortage of supplies.

Within Sudan, many of those forced to flee are arriving in overcrowded urban areas already hosting internally displaced people. Sudan is also hosting more than one million refugees who have fled violence in neighbouring countries. This is placing immense strain on overstretched resources and exposing vulnerable people to risks such as evictions, family separation and gender-based violence.

Per Heggenes, CEO of the IKEA Foundation, said: “The violence in Sudan is a devastating human tragedy. It is our responsibility to alleviate the suffering of those caught in the crossfire. We strongly urge other funders to join us in delivering life-saving humanitarian assistance to Sudan. Let’s come together and make a tangible difference in the lives of those devastated by the conflict. We call on all parties to protect health facilities and enable safe humanitarian access.”

Urgent life-saving care by MSF

The IKEA Foundation’s donation will help MSF provide life-saving care both through medical interventions and by distributing supplies. It will also contribute to supporting MSF's activities across 10 states in Sudan. MSF teams have been treating war wounded, providing healthcare services and supplies, and water and sanitation.

Stephen Cornish – Director General – Médecins Sans Frontières (MSF) – Geneva Operational Centre said: “As the conflict in Sudan spirals into its second month and humanitarian needs outstrip response capacity, IKEA Foundation’s backing of our medical work across the country marks a collective resolution to take all possible measures to support those caught in the violence.

“The contribution is a testament to the determination and professionalism of our teams on the ground, who despite the many challenges and obstacles remain committed to extending life-saving healthcare. We are deeply thankful for the steadfast support of the IKEA Foundation. Today’s donation of € 5 million will go a long way in helping us to provide humanitarian and medical aid to those most affected by the ongoing crisis.”

Immediate shelter needs by Better Shelter

An estimated 1.4 million Sudanese people have been displaced by this conflict already. This includes people fleeing internally and those crossing borders into neighbouring countries, including Chad and Ethiopia. Food, shelter, and protection services are among people’s urgent needs. To meet the immediate need for shelter as expressed by UNHCR, the UN Refugee Agency, Better Shelter will deploy 3,000 units immediately to neighbouring countries.

Johan Mast, Acting Manager Director, Better Shelter, said: “The current situation in Sudan is alarming. Millions of people are experiencing insecurity, food and water scarcity, and various challenges that require urgent attention. We are very grateful for the IKEA Foundation stepping in to assist and pleased to offer shelter to 15,000 individuals affected by the crisis. Shelter is a fundamental human need that provides physical protection and helps with emotional healing and recovery from the traumatic experiences they have endured.”

Piaggio Vehicles Pvt Ltd India inaugurates another luxurious Vespa and Aprilia dealership in New Delhi

Piaggio Vehicles Pvt Ltd, announced opening a brand-new and luxurious dealership in New Delhi – M/s A R Autoz for its iconic Vespa and sporty Aprilia two-wheelers. The new showroom and experience zone will offer all the products under the Vespa, Aprilia SXR and SR range of two-wheelers and their official merchandise.

The sprawling new dealership with 1400 sq. ft. showroom and 2700 sq. ft. service workshop, has been designed to offer an experience at par with the global dealerships mirroring the Italian heritage of the brands. M/s A R Autoz is committed to providing a superior experience, and service delight to all its customers in New Delhi.

Commenting on this occasion, Mr. Ajay Raghuvanshi, Executive Vice President of 2 Wheeler Domestic Business (ICE), Piaggio Vehicles Pvt Ltd said, “New Delhi has always given us an overwhelming response and we are thrilled to inaugurate another dealership in the state, making us more accessible to our discerning customers. As India’s luxury scooter brands, it is our constant endeavour to provide high-quality products and assure our customers the best ownership experience.”

Piaggio has over 250 touchpoints for Vespa and Aprilia throughout the country.

Dealership Address:

M/s A R Autoz

A-10, Saraswati Vihar, Outer Ring Road, Near Deepali Chowk

New Delhi-110034

Mob – +91 8882601002, +91 9319194174

Kymeta Launches First Flat Panel Antenna for Maritime Industry on OneWeb’s LEO Network

Business Wire India

World-leading flat panel satellite antenna company Kymeta (www.kymetacorp.com) and low Earth orbit (LEO) satellite communications company OneWeb (oneweb.net) today announced that Kymeta’s electronically steered Peregrine u8 LEO terminal is now commercially available, becoming the first flat panel antenna to serve the maritime market on OneWeb’s LEO network.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230606005230/en/

Kymeta's electronically steered Peregrine u8 LEO terminal. (Photo: Business Wire)

This industry-first offering unlocks a new standard of connectivity for maritime customers who require exceptional performance and reliable connectivity at sea where existing networks often don’t reach. Kymeta’s deep roots in the maritime market extend back to the launch of its maritime product line in 2017 and guided the streamlined design of the Peregrine u8 LEO terminal, which is purpose-built for maritime applications. By tapping into OneWeb’s enterprise-grade connectivity, all large vessels – from super yachts to commercial fishing and shipping vessels – can now connect easily and seamlessly at sea as they would on land.

“Our maritime customers have a unique set of needs, whether that be reliable cyber-security and access to real-time maintenance or connecting to the cloud and streaming their favorite show. That’s why we’ve made it our mission to develop an equally unique solution,” said Walter Berger, President and Co-CEO, Kymeta. “As a proud partner of OneWeb, today marks an exciting day for Kymeta because it represents the fulfillment of our joint commitment to bring to market a low-power, low-profile LEO terminal, built to elevate and modernize maritime communications.”

Carole Plessy, VP Maritime and Europe at OneWeb added, “By harnessing the power of our constellation of LEO satellites, the Peregrine u8 from Kymeta will enable mobile connectivity at sea, on multiple devices in the same way as the home network in your living room. We are thrilled by today’s milestone in our partnership with Kymeta, as it’s proof of our collective leadership in advancement of the satellite industry and an acknowledgement that connectivity should be readily accessible, regardless of where you are or where you’re going.”

Traditional maritime antennas are bulky, requiring high power and below-deck hardware. In contrast, Kymeta’s slim, energy-efficient Peregrine u8 requires no specialized installation equipment and can be installed onboard by just two people within hours, rather than days.

Attendees of the upcoming Nor-Shipping event in Oslo, Norway on June 6-8 are encouraged to stop by OneWeb’s booth (stand number B03-14) to see the Peregrine u8 in person and to speak with a member of Kymeta’s team.

Sequoia India & Southeast Asia Is Now Peak XV Partners

Business Wire India

Peak XV Partners will operate as a fully independent firm
The firm will continue to back ambitious founders in India, Southeast Asia and beyond from its current funds which include USD 2.5 billion (INR 20,000 crore) of uninvested capital

Sequoia India & Southeast Asia, the largest venture capital firm in the region which manages over USD 9.2 billion across 13 funds, will now be known as Peak XV Partners* globally. The rebranding has come after Sequoia Capital (US/Europe), Sequoia China and Sequoia India & Southeast Asia have decided to become independent firms with distinct brands. Peak XV was the original name given to Mount Everest and symbolises the relentless pursuit of audacious goals by founders.

Shailendra Singh, Managing Director, Peak XV Partners said, “It’s a new beginning for us as Peak XV Partners, but unlike most beginnings, this is an opportunity for us to build on top of the foundation laid over the last 17 years. Our firm will continue to be managed by the present leadership team and will continue to invest from the most recently raised set of funds focused on India and Southeast Asia.”

Since inception, Sequoia Capital (US/Europe), Sequoia China and Sequoia India/SEA have been built as separate businesses with independent investment decision making. Over the years, the strategies for each business have diverged and the scale and market leadership across different geographies has started to result in brand confusion and portfolio conflict. This has led the leaders of each business to collectively decide to move to fully independent partnerships with distinct brands, in order to serve founders and Limited Partners in the best manner.

“We are seeing companies emerge from every region with global ambitions. The flexibility that comes with the new structure will open up an unbounded global opportunity and help create more value for our founders and LPs,” Singh said.

Over the last 17 years, Sequoia India & SEA has raised 13 funds, invested in over 400 startups, with 50+ companies valued at USD 1 billion and above. The portfolio has seen 19 IPOs and multiple successful M&As resulting in USD 4.5 billion of realized exits so far. The investment team is led by 11 Managing Directors with an average tenure of over 12 years at the firm.

Peak XV Partners will continue to invest across stages (seed, venture, growth) and sectors like SaaS, AI, developer tools, cyber security, cloud infrastructure, climate tech, fintech, healthtech and consumer. The firm will further strengthen its unique and industry-leading programs like Surge and Spark that have been very well received by founders.

The firm remains committed as ever to help audacious founders build iconic companies that can be regional and global category leaders.

*Pronounced Peak Fifteen

Department of Emergency Medicine SMS&R and Sharda Hospital Celebrate World Emergency Medicine Day

The Department of Emergency Medicine at SMS&R (School of Medical Sciences and Research), in collaboration with Sharda Hospital, celebrated World Emergency Medicine Day under the theme “Your Safety Our Priority.” The event showcased a series of activities aimed at raising awareness about emergency care and equipping the public with life-saving skills.

The highlight of the event was the Poster Presentation, where experts from the Emergency Medicine Department showcased informative posters highlighting various aspects of emergency care and preparedness. These posters served as a valuable resource for attendees, providing essential information and guidelines on emergency response. Additionally, a Nukkad Natak (street play) was organized to educate the public about Basic Life Support (BLS) techniques. The play demonstrated how to save lives during cardiac arrest situations by teaching chest compressions and artificial breathing methods.

Dr. Rashmi Sharma, Head of the Department of Emergency Medicine at SMS&R, expressed her enthusiasm about the event, stating, “World Emergency Medicine Day provides an excellent platform to raise awareness about emergency care and the importance of preparedness. By equipping individuals with life-saving skills, we can make a significant difference in saving lives during critical situations. Our department is committed to promoting a culture of safety and ensuring the well-being of our community.”

Dr. A.K Gadpayle, Medical Superintendent of Sharda Hospital, also emphasized the significance of the event, stating, “Through this collaborative effort, we aim to create a safer environment by educating the public and providing essential emergency care training to our staff and students. We believe that every individual can play a vital role in saving lives, and this event reinforces our commitment to prioritizing the safety and well-being of our community.”

As part of their ongoing commitment to safety, the Emergency Medicine Department proposed the implementation of a BLS program for all staff and students at Sharda University. By offering comprehensive training in life-saving techniques, this initiative seeks to ensure that every member of the university community is prepared to respond effectively to emergency situations.

Furthermore, the Department plans to launch an exchange program to share its expertise and train staff from other institutes and multinational companies. This initiative will promote knowledge sharing and enhance emergency response capabilities across various organizations, ultimately contributing to a safer society.

Daimler India Commercial Vehicles Goes Live with ‘BharatBenz Certified’ – its Own Pre-owned CV Brand

· BharatBenz Certified will refurbish and restore pre-owned BharatBenz vehicles to as good as new, before sale

· BharatBenz Certified vehicles will offer exclusive warranty and AMC for certified vehicles

· BharatBenz Certified sale and purchase process will be seamless through its digital platform

Daimler India Commercial Vehicles (DICV), the wholly owned subsidiary of Daimler Truck AG (“Daimler Truck”) and the manufacturer of BharatBenz, India’s trusted truck and bus brand, announced its entry into the pre-owned commercial vehicle market under a new brand ‘BharatBenz Certified’. This new business initiative will undertake the refurbishment and sale of pre-owned BharatBenz trucks to Indian customers who have been aspiring to own a BharatBenz fleet.

Over the last 10 years, BharatBenz has established itself as a highly reputed truck and bus brand that is ahead of the curve in engineering, safety, reliability, performance and total cost of ownership. DICV’s high standard of product engineering and quality make BharatBenz vehicles exceedingly durable for delivering more mileage and a longer lifecycle than what the Indian customers are accustomed to. This makes the proposition of pre-owned BharatBenz vehicles compelling for aspiring customers.

Mr. Rajaram K – President, BharatBenz Marketing, Sales and Customer Service said “Our perpetual and thorough market research practice brought to our attention the aspiration of customers who would like to purchase pre-owned BharatBenz trucks. This need in the market gave birth to the idea of launching BharatBenz Certified – a company-steered pre-owned CV business initiative that will enable such customers to contact BharatBenz directly through our website or authorized dealerships, thereby eliminating the need of third party mediators. BharatBenz Certified will also be the catalyst for first-hand BharatBenz customers to upgrade their fleet to new BharatBenz vehicles which in turn creates an opportunity for customers aspiring to own safe and reliable pre-owned BharatBenz vehicles that will be as good as new after they are refurbished and restored by BharatBenz Certified.”

BharatBenz Certified will undertake the refurbishment of pre-owned BharatBenz vehicles with a rigorous 125-point quality check that will lead to a thorough technical check, repair and restoration of the vehicles. A detailed pre-delivery inspection (PDI) will be completed on the vehicles before dispatch. All used BharatBenz vehicles repaired and restored to a near showroom condition by ‘BharatBenz Certified’ will come with a warranty of 6 months. Customers will have the option of going for a new Annual Maintenance Contract (AMC) for their pre-owned BharatBenz trucks or even transfer the existing warranty and AMC from the previous owner.

While commercial trucks typically have a lifecycle of 5-6 years, BharatBenz trucks have proven that they can run tirelessly for millions of kilometers, only undergoing service at manufacturer-prescribed time intervals. This increases the lifespan of BharatBenz CVs way beyond 5-6 years which makes them a lucrative pre-owned proposition for customers who are keen to buy pre-owned BharatBenz vehicles, which, after being refurbished by BharatBenz Certified, would be as good as new with respect to reliability, performance, safety and total cost of ownership.

DICV also has a program called ‘BharatBenz Exchange’ that was launched with an objective to providing customers, who owned CVs made by other brands, to shift to BharatBenz. While BharatBenz Exchange has increased the sale of BharatBenz CVs in India since its launch in 2020, the newly introduced BharatBenz Certified complements BharatBenz Exchange in utilizing the longer lifecycle of BharatBenz CVs that customers can enjoy.

In the pilot phase, BharatBenz Certified will be available at Trident Trucking, Bengaluru and will be expanded quickly to all BharatBenz dealerships across the country.

Dhiraj Tripathi appointed as Vice President – Export & Electric Vehicles at Piaggio Vehicles Private Limited

Piaggio Vehicles Pvt Ltd (PVPL), a 100 % subsidiary of the Italian auto giant Piaggio Group and India’s leading manufacturer of small commercial vehicles as well as pioneers of electric 3W has announced the appointment of Mr. Dhiraj Tripathi as Vice President – Export & Electric Vehicles. In his new role with Piaggio India, Mr. Tripathi will be responsible for the Sales, Service, Marketing & Business Development for EVs and Exports.

Mr. Tripathi is an auto industry veteran with over 25 years of experience in diverse automotive consumer segments. His expertise lies across B2B and B2C sales operations, global business development, EV start-up, P&L management, revenue enhancement, and strategic alliances. Mr. Tripathi has previously been associated with Electric One, Hero MotoCorp Ltd, Bajaj Auto Ltd, Castrol, and Honda Cars India Ltd. His last stint was with Electric One as the Chief Operating Officer where he was responsible for the overall business and strategy of the brand.

Dhiraj Tripathi - Vice President - Export & Electric Vehicles_Piaggio Vehicles Pvt Ltd.jpg

Mr. Tripathi holds a General Business Administration and Management degree from the Indian Institute of Management, Ahmedabad, an MBA degree from Utkal University and a Mechanical Engineering degree from Bangalore University.

He will be reporting to Mr. Diego Graffi, Chairman and Managing Director of Piaggio Vehicle Private Limited

GKB Opticals unveils Tiger Shroff’s “Carrera Prowl” collection in Gurgaon

The leading national optical retail chain with more than 60 years of legacy recently associated with “Carrera Prowl” and unveiled their latest array of products at Ambience Mall, Gurgaon, in the presence of Tiger Shroff. “Carrera Prowl” is a one-of-a-kind collaboration between the internationally popular lifestyle and sports eyewear brand, Carrera and Bollywood superstar Tiger Shroff’s popular lifestyle brand, Prowl. The latest array of products from the “Carrera Prowl” collection will add to the existing extensive product range of GKB Opticals and will showcase a versatile amalgamation of functionality, durability and premium- quality and will cater to customers who have a knack for fine eyewear that renders a statement look while being functionally relevant.

GKB Opticals features a wide range of internationally celebrated eyewear brands and thereby effortlessly captures the mind-space of fashion enthusiasts. Therefore, the addition of the “Carrera Prowl” collection will further accentuate the brand’s mission to cater to the fashion-forward population and deliver fine eyewear to them.

Ms. Priyanka Gupta, Director of Brands – GKB Opticals said, “After the successful launch of the Carrera Prowl collection in Mumbai and Kolkata, we are elated to unveil the collection in Gurgaon, in the presence of Tiger Shroff. As one of the retail partners of the Carrera Prowl collection, we have received immense love and appreciation for the sturdy range. We are glad that we are being able to extend our extensive product catalogue to our patrons across cities and make fashionable eyewear accessible to all. Alongside the luxury to premium eyewear brands which are already available in our stores, the Carrera Prowl collection widens the dimension, both in terms of product galore as well as customer demographics. The promising range offered by the collaboration between the two iconic brands i.e., Carrera and Prowl, seamlessly aligns with the aesthetics and functionality which GKB Opticals stands for.”

Gracing the launch event of the Carrera Prowl collection at GKB Opticals’ store at Ambience Mall, Gurgaon, Tiger Shroff commented, “I am glad to see the Carrera Prowl collection going places. As one of our retail partners, GKB Opticals has been ensuring that they leverage their nationwide presence and introduce the range to the fashion-forward customers across the cities. After receiving a lot of adulation and appreciation from the patrons at Mumbai and Kolkata, we are all set to present the contemporary yet sturdy collection to the Gurgaon folks.”