·        The process has been simplified to settle claims with minimal documentation

·        Claims will be settled promptly, as they will be given the highest priority

 

Bajaj Allianz Life Insurance, one of India’s leading private life insurance providers, expresses its deepest condolences and solidarity with those impacted by the floods in Andhra Pradesh and Telangana. In response to this unfortunate natural calamity, the Company has implemented special measures to address the needs of its affected policyholders and their families.

 

Understanding the immense challenges faced by affected policyholders during this difficult time, Bajaj Allianz Life Insurance has undertaken a dedicated initiative to prioritize the processing of death and disability claims for its customers impacted due to this incident. With utmost urgency, an expeditious process has been established to swiftly settle these policy claims.

 

To streamline the claims process and minimize inconvenience, only the necessary documentation to substantiate the claim quantum is required. Nominees, legal heirs, or policyholders can submit only the essential documents through any of the following convenient modes:

 

·         Call the company’s toll-free number 18002097272

·         Visit one of the nearest branches among the 548 branches across the country

·         Email at claims@bajajallianz.co.in

 

The company is also making efforts to obtain the list of deceased from authorised sources and will take extra efforts to reach out to the impacted families proactively.

The report exhibits an analysis of trends in key parameters such as portfolio growth, originations, and delinquencies across lender types and ticket size ranges till Q4 FY24

CRIF High Mark, a leading Indian credit bureau, launched the fourth edition of itsflagship report, How India Lends, today. The report deep dives into Consumption Lending, MSME Lending, and Microfinance Lending for the last five years (FY20 to FY24) with an emphasis on key insights into the industry and consumer trends.

Consumption Lendingincludes Home Loans, Personal Loans, Two-Wheeler Loans, Auto Loans, Consumer Durable Loans and Credit Cards. MSME lending includes Entity and Individual loans. Entity MSME Loans are defined based on entity-level credit exposure of up to ₹50 Crore. Individual MSME Loans include Business Loans, Property Loans, Commercial Vehicle Loans and Construction Equipment Loans.Corporate Loans refer to loans given to Mid and Large-size entities with credit exposure of more than ₹50 Crore and are reported to the Commercial Bureau.

Insights into Trends and Patterns Shaping Major Lending Product Categories in India 

Consumption Loans: Portfolio outstanding of Consumption Loans increased by 15.2% YoY to ₹90.3 Lakh Cr as of Mar’24, however, portfolio growth has decelerated(from 17.4% as of Mar’23) primarily driven by the slowdown in the Home Loans segment (40.1% of consumption loans portfolio by value)

·         Home Loans: 

–          Portfolio growth slowed down to 7.9% YoY (vs. 23% YoY as of Mar’23) due to muted growth in originations (9.2% in FY24 vs 18.2% in FY23)

–          Shift in Originations (by value and volume) from ticket size ₹ 5L – ₹ 35L to ₹ 35L +

–          Growth of 32% in Average Ticket Size (ATS) from ₹20.1L in FY20 to ₹26.5L in FY24

·         Personal Loans:

–          Robust Portfolio growth (26% YoY as of Mar’24) despite recent regulatory reforms

–          ₹10L+ Ticket Size loans continue to increase their share in originations by value, while <₹1L Ticket Size loans continue to dominate by volume

–          Banks dominate Originations (by value) and NBFCs dominate Originations (by volume)

·         Two-wheeler loans: 

–          Growth accelerated to 34% YoY (from 30% as of Mar’23)primarily driven bythe shift in originations to Higher Ticket Size loans, despite lower origination volume growth YoY (13% in FY24 vs. 32% in FY23)

–          Shift in Originations (by value and volume) with a 4.6x growth can be seen for₹75K+ from FY20 to FY24

·         Auto Loans: 

–          Marginal slowdown in Portfolio growth to +20% YoY (vs. 22% as of Mar’23) buoyed by Shift in Originations to ₹10L+ Ticket Size loans but dampened by lower growth in overall origination volumes

–          5% growth in Originations Volume (vs. 21% in FY23) and 12.5% growth in Originations Value (vs. 37.3% in FY23)

·         Consumer Durable Loans:

–          Robust portfolio growth of 34% YoY (vs. 26% YoY as of Mar’23) driven by the shift in originations to ₹25K+ ticket size loans, which offset the muted growth in originations volumes (8.5% in FY24 vs 38.2% in FY23)

–          21% growth in Originations by value, and 8.5% growth by volume in FY24

–          Private banks gained origination share from FY20 to FY23, however NBFCs regained some of their lost share in FY24

·         Credit Cards:  

–          16.5% growth in Active cardsfrom Mar’23 to Mar’24

–          Credit card balances reached ₹3.0 lakh crore, with 999.1 lakh cards in circulationas of Mar’24

MSME Lending: Individual MSME segment growth outpaces that of Entity MSMEs, both in terms of portfolio growth (28.9% YoY vs 6.6% YoY) and originations growth (12.6% YoY vs 3.1%).

Individual MSME Loans

·         Portfolio outstanding of Individual MSME Loans stands at ₹35.7 Lakh Cr as of Mar’24 with growth accelerating to 29% YoY (vs. 15% YoY as of Mar’23)

·         Witnessed Y-o-Y growth in Originations by value at 12.6%and by volume at 19.4%in FY24

·         Individual MSMEs witnessed improvement in delinquency across all Ticket sizes and Lender types

 

Entity MSME Loans

·         The Portfolio outstanding of Entity MSME Loans stands at ₹28.4 Lakh Cr as of Mar’24 with growth decelerating to 6.6% YoY (vs. 17.2% as of Mar’23)

·         The sector witnessed Y-o-Y growth in Originations by volume at 18.9%, while 3.1% by value, with the Micro Segment being the largest contributor

 

Microfinance Lending:

·         Portfolio growth accelerated to 27% YoY (vs. 21% YoY as of Mar’23) with the Microfinance Loans portfolio outstanding of ₹442.7 K Cr as of Mar’24.

·         The average ticket size for MFIs increased by 11% from ₹40.9K to ₹45.4K between FY23 and FY24

·         PAR 31-90% and PAR 91-180% were stable as of Mar’24 compared to Mar’23

 

Commenting on the report Mr. Sanjeet Dawar, Managing Director, CRIF High Mark, said, “The fourth edition of the report ‘How India Lends – FY2024’ provides a comprehensive overview of the evolving lending landscape in India. This year’s report highlights the continued dominance of Home Loans and the notable growth in Personal Loans and Two-Wheeler Loans. We also observe a significant rebound in NBFCs' market share and a marked expansion in the Microfinance sector. The stability in delinquencies and the strong performance across various lending categories underscore the ongoing resilience and vitality of the Indian credit market.”

Bank of Baroda, one of India’s leading public sector banks, inaugurated a Phygital branch at Vile Parle, Mumbai. The Phygital branch will redefine customer experience by seamlessly integrating self-service and assisted service models to meet the diverse requirements of customers. This is the Bank’s third Phygital branch launched in the country.

 

Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda inaugurated the Phygital branch in the presence of Shri Sanjay V. Mudaliar, Executive Director, Bank of Baroda; Shri Manish Kaura, General Manager Bank of Baroda; Shri Sunil Kumar Sharma, General Manager & Zonal Head, Mumbai Zone, senior bank executives and staff members of the Zone & Region along with valued customers who were also present during the inauguration.

 

Bank of Baroda’s Phygital Branch is equipped with Video Contact Centre where a customer can connect with the Bank’s contact centre through a video call to receive assistance on non-financial services. It has a Self Service Kiosk where tablets are installed and customers can avail services like PAN updation, receive Account Statement through email, TDS certificate etc. The Phygital branch also has an exclusive Service Area as well as Universal Service Counters manned by branch executives to provide seamless customer service.

 

The Bank is targeting to launch similar such Phygital branches on a pilot basis across the country. The Phygital branch is a confluence of brick-and-mortar establishments equipped with cutting-edge technology.

 

·          Establishing Smart Digital classrooms that are equipped with state-of-the-art infrastructure and powered by solar energy.

·         Fostering a community of ‘Green Ambassadors’ to take decisive climate action.

 

With an aim to empower young students, Spreading Happiness InDiya Foundation (SHIF), a collaboration between cricketing icon Sachin Tendulkar (through Sachin Tendulkar Foundation – STF) and Schneider Electric India, a leader in digital energy management and next-generation automation, have reached a major milestone in their mission to empower young minds in rural areas through digital education. Through the flagship SMITA program, the Foundation has positively impacted 60,000 students across 300+ schools in India. Inspired by the success and in celebration of World Literacy Day, SHIF has committed to revitalising 500 rural government schools by 2025. It aims to touch the lives of more than 100,000 young learners across aspirational blocks of India.

 

At the heart of the SMITA program are ‘Digital’ classrooms, designed to bring digital education to rural areas while promoting sustainability. Till date, SHIF has equipped 300 schools with Digital classrooms, situated in some of the remotest corners of the country, also serve as hubs for fostering a community of 'Green Ambassadors' who are empowered to take proactive climate action.  These classrooms, powered by renewable energy sources like solar, offer cutting-edge infrastructure and virtual training opportunities, helping schools reduce operational costs and expand access to quality education through virtual training.

 

Highlighting the importance of expanding digital education access, Mr. Sachin Tendulkar expressed, “The Spreading Happiness InDiya Foundation is dedicated to narrowing the digital gap by granting students access to high-quality education, while also imparting the significance of sustainability. SMITA program signifies our dedication to cultivating a generation of responsible and knowledgeable citizens who will guide us towards a sustainable future. Through the foundation, we are working to ensure that every child, regardless of their location, possesses the resources necessary to thrive in the contemporary world.”

 

Access to quality education is an integral pillar for achieving holistic sustainable development. The evolving digital world has necessitated the timely modernisation and upgradation of educational infrastructure for keeping the students ahead of the learning curve.

 

In line with this goal, Mr. Deepak Sharma, Zone President – Greater India, MD & CEO, Schneider Electric India, stated, “Schneider Electric is an impact-driven company, and education is fundamental for creating a lasting, sustainable impact. We believe that access to energy and education is a fundamental human right.  Our Digital classrooms exemplify our commitment to leading energy and environmental conservation to empower rural communities. We have already positively impacted 60,000 children in 300 schools and aim to transform 500 schools by 2025. We are honoured to partner with Mr. Sachin Tendulkar to educate and empower our next generation, driving actions on climate change and sustainability.”

 

The SMITA Program is committed towards nurturing an ecosystem of ‘Green Ambassadors’ through its interactive learning program on Environment and Energy conservation. This program is tailored to inform and educate students to make judicious and eco-friendly choices in their daily lives.

The innovative SMITA program by SHIF is making a positive impact on government schools in 12 states like Uttarakhand, Gujarat, Tamil Nadu, Maharashtra, and Karnataka including some aspirational district blocks. The Foundation is dedicated to ensuring uninterrupted learning by making education available to students in regional languages.

 

 

·         ACC and Adani Foundation construct a Cement Nala Bund (CNB) in Gowari village to address water scarcity faced by Bhaskar Wasekar and other farmers.

·         This structure has recharged the groundwater table, increasing the number of functional borewells, and expanding cultivable area by 11.78%.

·         Owing to this, Bhaskar’s income from farming has gone up 35.46%, reaching Rs 3.22 lakh annually.

·         25 hectares of farmland belonging to 18 harmers from the village benefits from this CNB.

ACC, the cement and building material company of the diversified Adani Portfolio, is committed to facilitating modern farming and efficient water management solutions in communities where it operates. Through CSR efforts, Adani Foundation has been able to significantly impact the lives of 18 farmers by addressing long-standing water scarcity issues in Gowari village near ACC Chanda.

 

Gowari village, located in the Wani Taluka of Yavatmal district, has faced persistent water shortages due to unreliable rainfall and arid conditions. For 41-year-old farmer, Bhaskar Ramchandra Wasekar, this challenge was a daily struggle. With only 4 hours of water per day from his borewell, Bhaskar's ability to cultivate his 8.07 hectares of land was severely restricted, impacting his income and future prospects.

 

The Adani Foundation collaborated with Dilasa Janvikas Pratishthan to initiate a project to build a Cement Nala Bund (CNB), with the aim of improving water retention and recharging the groundwater table. Completed in the 2023-24, the CNB has proven transformative. Water availability on Bhaskar’s land has increased by 75% to 7 hours per day, enabling him to expand his cultivable area by 11.78%, from 6.15 to 7.10 hectares.

 

This expansion has allowed Bhaskar to diversify his crops, including the addition of water-intensive chillies, significantly boosting his income by 35.46% to Rs. 3.22 lakh annually. “The CNB has been a blessing,” says Bhaskar. “I no longer worry about water for my crops. Now, I can grow more, explore new crops, and ensure a secure future for my family. In all, similar impacts are seen across 25 hectares of farmland owned by 18 farmers from the village.

 

ACC and the Adani Foundation’s commitment to sustainable community development is highlighted through the collaborative efforts to drive positive, life-changing results, as seen in the CNB project. The project not only enhances the livelihoods of Gowari’s farmers but also instills hope and resilience within the community.

●        First Indian brand to offer a diverse range of vegetarian options and superfood-enriched products, tailored to meet the unique dietary needs of Indian pets.

●        Carniwel offers premium pet foods with human-grade, natural, superfood ingredients for optimal pet nutrition.

 

Growel Group, a prominent leader in aquaculture feeds, aqua healthcare, and seafood processing industry since 1994, today announced its strategic expansion into the rapidly growing pet food sector with the launch of its new pet food brand – “Carniwel”.

Post COVID, the bond with pets has strengthened tremendously, leading to an evolution in pet parenting. This shift reflects an increased understanding of the emotional and mental benefits pets provide as companions, leading to more evolved needs for their care. Recognising this phenomenon, we have launched “Carniwel,” a new line of pet food, that meets the growing demand of pet nutrition, falling under the category of premium nutrition without being heavy on pocket for pet parents.

Carniwel provides a diverse selection of high-quality products with super high palatability tailored to meet the evolving needs of pets through their life stages. Our product range offers nutritious and delicious balanced food for pets at every life stage, from puppies and kittens to seniors – even for the pickiest eaters. Our goal is to make the pet parenting journey a celebration.

Carniwel enriches pet food with superfoods, essentially comprising nutrient-dense ingredients like Antarctic Krill, Algal Oil, Spirulina which provides vital proteins, Omega-3 fatty acids, and antioxidants to support cognitive development, immune system function, and skin and coat health. As a first in the industry, Carniwel incorporates fresh protein in almost all products, including fresh chicken, fresh lamb, and fresh fish – a feature typically reserved for the super-premium segment -while offering these at prices that are easy on the budget.

Recognising that over 30% of Indian households follow a vegetarian diet, Carniwel has introduced an extensive range of vegetarian pet food.Crafted with high-quality, nutritious ingredients and manufactured entirely in India, it offers a complete, balanced diet for pets while staying true to our commitment to catering to diverse dietary preferences.

Announcing the launch of Carniwel, Mr. M.S.R Karthik, Promoter Group, Growel, said, “Formulated in the United States with over 50 years of expertise in animal nutrition and carefully adapted for the Indian market by Growel’s in-house team, Carniwel meets stringent global standards for premium quality and safety. The Indian pet food market is on track to surpass one billion dollars by 2027, with a CAGR of over 25%. This surge is driven by increasing pet adoption, evolving consumer preferences towards high-quality

 

nutrition, and rising disposable incomes among urban households. As we strive to make the pet food industry self-sufficient and domestically robust, we are set to commence exports in the coming months. We are committed to supporting the nation’s efforts in this growing sector.”

J.S. Rama Krishna, Business Head, Growel Pet Nutrition, stated:

“As the number of pet food brands continues to grow, a noticeable gap remains for high-quality food at affordable price points. Carniwel is the only brand in India that includes ‘Fresh Meat’ and ‘Superfoods’ in its recipes, perfect for both dogs and cats. Our proprietary blend of essential nutrients and vitamins supports the holistic health of pets at different life stages. Each recipe guarantees flavor and taste without compromise (96% palatability as per extensive trials of over 1000 pets). With the launch of Carniwel, we are committed to offering pet owners a diverse range of products that cater to the specific needs of their pets, from brain development and joint support to weight management and skin and coat health. Made with high-quality ingredients that are also GMO-free, our aim is to ensure pets receive the best possible nutrition, with all products proudly made in India.

“With Growel’s presence in over 4,000+ pet outlets, supported by a robust distribution network spanning over 200 cities and an omnichannel presence, we are ensuring widespread availability of our products,” he further added.

Carniwel provides a range of products tailored to the specific needs of both small and large breed dogs. Our pet food is available in various pack sizes and is suitable for different life stages, from puppies and kittens to adult and senior pets.

For Small Breed Dogs

●        Fresh Chicken & Fresh Lamb:Our Fresh Chicken & Fresh Lamb range is tailored for small breed dogs, providing essential nutrients for brain development, lactation support, and immune health. For small breed puppies and adult dogs up to 20kgs, this range ensures specialized nutrition for weight management, dental health, digestive support, and a healthy skin and coat.

●        Superfoods: Our 100% Pure Veg Superfoods line supports the unique dietary needs of small breed dogs. The Starter formula focuses on brain development, lactation support, and immune system enhancement for mothers and puppies. For small breed puppies and adult dogs up to 20kgs, we offer formulas for weight management, dental hygiene, digestive support, skin and coat health, and immune protection.

 

For Large Breed Dogs

●        Fresh Chicken & Fresh Lamb: Our Fresh Chicken & Fresh Lamb range for large breed dogs offers vital nutrients for brain development, lactation support, and immune strengthening in puppies. For large breed adult dogs up to 75 kgs, this range provides comprehensive support for joint health, digestive health, immune resilience, and skin and coat condition.

●        Superfoods: The 100% vegetarian Superfoods line for large breed dogs supports their larger frames and health needs. The Starter formula aids brain development, lactation support, and immune strengthening for puppies. For large breed adult dogs up to 75kgs, our formula emphasizes joint support, digestive health, immune resilience, and optimal skin and coat condition.

 

For Kitten & Adult Cats

●        Carniwel also offers a range of premium cat food products designed to meet the nutritional needs of kittens and adult cats. For kittens, our Ocean Fish & Krill, Fresh Fish & Shrimp, and Fresh Chicken formulas provide essential nutrients that promote digestive health, a healthy coat, and a robust immune system. For adult cats, these same high-quality formulas focus on hairball reduction, digestive support, and maintaining a healthy heart, ensuring optimal health and well-being at every life stage.

Scoot, the low-cost subsidiary of Singapore Airlines, is thrilled to announce its September Network Sale – one of the biggest sales of the year! Running from 10 September to 16 September 2024, this sale offers Indian travellers the ultimate opportunity to book one-way economy fares at budget-friendly prices!Short to medium-haul destinations can be booked starting from as low as INR 5,900*. With all destinations priced under INR 19,000*, the September Network Sale allowstravellers from Chennai, Thiruvananthapuram, Amritsar, and more to explore bucket-list destinations without stretching their budget!

 

 

Discover trending travel destinationsat the best value, including:

• Chennai to Singapore: INR 5,900*
• Coimbatore to Kuala Lumpur: INR 8,400*
• Thiruvananthapuram to Malacca: INR 8,000*
• Visakhapatnam to Ho Chi Minh City: INR 8,500*
• Amritsar toSibu: INR 8,600*
• Trichy toPerth: INR 13,500*

 

For an enhanced travel experience, including priority check-in and boarding, spacious seating with ample legroom, 15kg cabin baggage and 30kg checked baggage allowances, and 30MB of Wi-Fi, passengers from Amritsar and Chennai can also book ScootPlus seats starting at INR 12,900* on the Boeing 787 Dreamliners.

 

The sale is applicable to travel bookings made for the following time periods:

 

Amritsar (ATQ)	24 September 2024 – 1 November 2024 16 March 2025 – 19 June 2025 28 July 2025 – 10 September 2025
Coimbatore (CJB), Thiruvananthapuram (TRV), Visakhapatnam (VTZ), Chennai (MAA) and Tiruchchirappalli (TRZ)	24 September 2024 – 1 November 2024 6 November 2024 – 14 December 2024 10 February 2025 – 11 April 2025 12 May 2025 – 16 June 2025 8 July 2025 – 15 September 2025

 

(Additional blackout periods may apply over school holidays and event periods)

 

For more information on this visit: http://www.flyscoot.com/en/promotions/in-sep-network-sale

 

Visit Scoot’s official website or use the Scoot mobile app to book your next adventure. With a range of captivating destinations to choose from, travellers can secure exceptional prices during the September Network Sale and transform their travel dreams into reality!

 

For more information and bookings, visit Scoot's website athttps://www.flyscoot.com/en

 

*T&Cs apply. Visit the website for more details.

The Airtel Africa Foundation today announced the launch of the prestigious ‘Airtel Africa Fellowship Program’ for the undergraduate students at IIT Madras Zanzibar, the first-ever foreign campus established by an IIT. The Fellowshipaims to support deserving students from diverse socio-economic backgrounds enrolled in the Bachelor of Science in Data Science and Artificial Intelligenceat the Indian Institute of Technology Madras (IITM) in Zanzibar. Starting with an outlay of US$500,000, this program will benefit 10 undergraduate students, for their entire course duration of 4 years.

Founded in 2024 with a vision to foster a prosperous Africa, the Airtel Africa Foundation is dedicated to advancing digital and financial inclusion across the continent along with key focus on education and environmental protection. This Fellowship is themaiden initiative undertaken to enhance educational opportunities for meritorious students, especially from disadvantaged backgrounds, enrolled at IIT M Zanzibar. It is designed to support students from 14 African countries, which arenamely Nigeria, Kenya, Malawi, Uganda, Zambia, Tanzania, Rwanda, DRC, Niger, Chad, Congo B, Gabon, Madagascar and Seychelles.

Recipients of this scholarship will be known as ‘Airtel Africa Fellows’. They will receive 100% of their college fees i.e. US$12,000 as per the course fee structure of the Institute for a 4-year program. Additionally, to cover the living expense cost, US$500 will be given to all eligible students. This initiative will aspire to transform, shape lives and nurture future leaders who will contribute to technological innovation and economic growth of Africa.

Commenting on the fellowship scheme, Zanzibar’s Minister of Education and Vocational Training, H.E. Ms Lela Mohamed Mussa said, “IITM Zanzibar is charting a wonderful path in technical education in the region. Providing access to this high quality education to students from Tanzania and the rest of the continent, who are topping the IITM Zanzibar screening and test processes, through financial assistance, is an important priority for us. We are thankful to this support from Airtel Africa Foundation, which will enhance our own efforts in this direction.”

The Chairman of the Airtel Africa Foundation, Dr.Olusegun Ogunsanyasaid, “We are pleased to partner with IIT Madras Zanzibar to provide opportunities for young Africans to access quality education. This initiative aims to contribute towards creating a prosperous and sustainable continent. We look forward to creating even more opportunities not just in education, but also infinancial and digital inclusion, and environmental protection”.

The Director of IIT Madras, Prof. V. Kamakotisaid, “IIT Madras is committed to establishing a world class campus in Zanzibar. We are delighted that Airtel Africa Foundation is joining hands with us in this effort.We look forward to welcoming the second cohort of bright young students to the IITM Zanzibar campus this year. We are immensely grateful to Airtel Africa Foundation for providingfinancial assistance for these future global leaders.”