Archive: December 31, 2021

‘Fintech and NBFCs Partnership can Bring Credit Revolution in the Country’: PayPoint India MD Ketan Doshi at ASSOCHAM 8th National E-Summit

Hyderabad/Mumbai, December 31, 2021: Fintech companies can bring efficient onboarding of customers and offer seamless collection support at a negligible cost at the last mile touchpoints, stated Mr. Ketan Doshi, Managing Director of PayPoint India, at the recently held 8th ASSOCHAM National E-Summit on the NBFC sector.

Speaking at the event, Mr. Ketan Doshi said, “NBFCs are going to be the forefront of the credit outreach which is required in the country, and this can happen with the partnership model with Fintech. It can bring credit revolution in the country.”

“Pandemic has facilitated banks and NBFCs to join hands with Fintechs. Lenders are now looking for fintech partnerships serving the last mile mainly for customer onboarding as customer acquisition and collection costs are pretty high. With the help of NBFCs decision-making tools along with Fintech’s payment tools, credit can be disbursed within 5 mins, and the costs can also be bought down by around 65%.” Mr. Doshi added.

While most people cannot come to the mainstream because of the scarcity of capital, credit should also be made available to the underserved for the economy to grow. If the last mile is touched via the partnership model, there is considerable headroom for credit growth and greater financial inclusion. Also, government initiatives like OCEN (Open Credit Enablement Network) and Account aggregation can change the entire lending landscape in the coming year.

At the summit, the panelists also underlined that NBFCs have deeper penetration in rural markets and have played a significant role in the financial inclusion agenda. Today, NBFCs’ partnership with fintech companies is leading the way to the future of financial services. This partnership model is developed fundamentally to serve underserved customers who otherwise find it hard to access credit.

The summit also deliberated upon the outlook of Overall NBFCs & MFIs Sector, Deep-Dive into the Infrastructure and Housing Finance. Other Industry stalwarts such as Shri Alexander Muthoot – MD of The Muthoot Group, Shri Amit Gainda- MD & CEO of Avanse Financial Services Ltd., Shri Amit Gupta – CFO of U GRO Capital, Shri Sanjay Rudra – General Manager, Large & Mid Corporate of Bank of Maharashtra, Shri Samik Dasgupta – General Manager, and HOD NPA Management and Legal of IIFCL, Shri Ashok Soni – ED, of PFRDA, Dr. M. Narendra – Former CMD of Indian Overseas Bank also addressed the discussions.

CM Soren pitches in leading B- school to develop forest economy

Govt of Jharkhand collaborates with ISB to develop forest economy

Ranchi, December 31st: Taking a significant step towards creating jobs and wealth through a model of sustainable development, the Government of Jharkhand collaborated with Indian School of Business for a unique initiative to empower the state’s forest economy. In an event to mark the second anniversary of Hemant Soren-led government today, the Department of Scheduled Tribe, Scheduled Caste, Minority and Backward Class Welfare along the Department of Forests, Jharkhand, signed an MoU with the Bharti Institute of Public Policy at Indian School of Business (ISB), Hyderabad, to develop scalable and sustainable solutions focussing on forest-based industrial value chains.

“Our approach is to build and formalise linkages between major stakeholders in existing value chains for forest-based industrial raw material while creating incentives for sustainable forest management. We will facilitate institutional and technological capacity building of communities. This vision will contribute towards meeting India’s global commitments for sustainable development,” said Prof Ashwini Chhatre, Executive Director, Bharti Institute of Public Policy, ISB, while formalising the collaboration with Naman Priyesh Lakra, Welfare Commissioner, Government of Jharkhand, in the presence of Governor Ramesh Bais and Chief Minister Hemant Soren in the state capital today morning.

In January 2020, the Chief Minister, less than a month old in office, had approached ISB to propose a cluster-based strategy for development of forest economy in the state. Based on research on the current scale and future potential of existing value chains, the team of researchers from ISB, led by Prof Chhatre, proposed an institutional design to facilitate sustainable forest management, value addition, and industrial procurement of seasonal forest products.

The ISB team plans to pilot this approach in Gumla district, before expanding to other districts with promising forest products. For this, the researchers have prepared an action plan, starting with creating incentives for local communities by establishing Community Forest Resource rights under the Forest Rights Act. The team is also working closely with Jharkhand State Livelihood Promotion Society (the nodal agency for the National Rural Livelihoods Mission in Jharkhand) for supporting this vision through women’s self-help groups (SHG).

“We will prepare a business plan based on market demand for select forest products in Gumla and assess the need for capital investments in infrastructure for collection, storage, processing, and transportation of forest products through women-centric forest-based enterprises. We will build the capacity of SHG leaders for product aggregation and pre-processing through technological enhancements,” explains Shreya Jain, Research Associate, ISB.

The lynchpin of the initiative is a partnership between local communities as the custodians of forest resources; industry leaders using the products of that forest, and government agencies facilitating and regulating the creation of jobs and wealth. This unique project also represents a triple-win opportunity by reducing environmental threats, creating jobs at the bottom of the pyramid, and establishing sustainable forest management systems.

“We seek to establish active collaborations with government agencies, academic institutions, private companies, and civil society organizations in Jharkhand to address the tremendous potential of forests to create jobs and wealth while also mitigating adverse environmental impacts,” added Prof Chhatre.

My Home India’s ‘One India Award’ conferred upon S. Quotient Sumer, a well-known author from Meghalaya

Mumbai, 30^th December 2021: My Home India’s ‘One India Award’ conferred upon S. Quotient Sumer, a well-known author from Meghalaya by the Hands of Shre. Rajdatta ji, Chief Guest Senior Actor and Director

Sunil Deodhar, Founder & BJP national secretary, President of Saraswat Bank Gautam Thakur, President of ‘My Home India’ Dr. Harish Shetty & Secretary Suhas Samant along with various dignitaries were present on dais.

Rajdatta said about Awardee Quotient that, “I am overwhelmed when I felicitate such a great and noble personality. Our words are short to talk about the awardee. His work is really noble. I salute his work. “He further said, “My Home India has played a vital role in connecting the people of Northeast India with the rest of India. My Home India’s contribution is certainly remarkable. “

“Quotient Sumer is great and ideal person who fights for his religion and culture for the last several years against anti-national forces which have been operating in the states of Northeast India. The award was given to Quotient Sumer, who has been instrumental in thwarting such forces, not just him, but the award itself, “said BJP national secretary Sunil Deodhar. He was speaking as the keynote speaker at the India Award Ceremony.

We were not familiar with Kiang Nangba, who hanged by Britishers in Meghalaya in year 1862 for the War of Independence, but he became famous because of the writings of Quotient Sumer. Sunil Deodhar further said that, “Many such historical, cultural events, stories, battles in Meghalaya came before the world due to the writings of the great leader Quotient Sumer.”

“We are one, we are Indian first, and secondly we are of our respective states,” said by Quotient the awardee. The Northeast is also an integral part of India. Many organizations have been working for this for many years, and such work should continue. The honor I have received is not my personal one, it is the honor of the whole Northeast.

In the closing speech of the program, the president of the organization, Dr. Harish Shetty said that the work of an organization like ‘My Home India’ needs to grow continuously, young people should work for the people of Northeast India. My Home India Secretary Suhas Samant welcomed the audience.

Photo- From Left  Suhas Samant, Sunil Deodhar, Gautam Thakur, Awardee Quotient Sumer, Rajdatta ji, Marioda Passwate, Dr. Harish Shetty

Year-ender and outlook for 2022

Mr. Nipun Jain, CEO, RapiPay
Mr. Nipun Jain, CEO, RapiPay 

For RapiPay, year 2021 has been a very successful year. Despite the challenges thrown by Covid second wave, we grew more than 100% over last year. Other than achieving business numbers, we also grew our presence in deeper geographies and far-flung areas. We saw Micro ATMs gain traction from both retailers as well as end consumers. With over 1 lakh RapiPay Micro ATMs installed, we constitute around 25% of the Micro ATM market.

Today, RapiPay has a strong retail network of 4 Lakh Direct Business Outlets and growing with transactions over 1 million daily. In 2022 also, we will continue to expand our suite of banking and payments services for our DBOs/retailers. We believe in 2022 we will witness more partnership between Fintech companies and Banks to provide various banking and financial services and widen their reach. RapiPay will continue its efforts of taking banking services to the last mile, so that Indian population can use safe, secure, and convenient banking services. With more funding and increased collaboration between established and new players in the payments and neo banking space, the outlook for the Fintech sector looks promising and very positive this year also.

Bigger homes, plots demand up, 2022 to see further growth

The pandemic has turned homes into offices. And with it, the way prospective buyers want their homes to be. As the real estate sector is showing signs of recovery from the twin lockdowns, developers in the city have predicted that bigger homes and residential plots are most likely to be the preferred option among buyers in 2022.

Referring to the sales data for this year, many real estate consultants have said that queries in the city have increased by around 15% for apartments that are 3 BHK or bigger. There has been a 42% rise in buyers interested in bigger plots. The developers said the trend among buyers was driven by work-from-home policies adopted by most companies. And in the wake of the concern around the Omicron variant, properties with health infrastructure and security around them will be the most sought-after.

According to a real estate research and consultancy firm, around 1.3 lakh residential units were added across the top seven cities in the country, while sales were clocked at 1.4 lakh units, including inventory. But 2021 witnessed an upswing. Between January and September this year, 1.6 lakh units were added in these cities and 1.4 lakh of them were sold. Surinder Singh, Director GLS group said, “Due to the Covid 19, the homebuyers have realized the need for bigger homes and independent plotted houses.”

Since the pandemic, the demand for bigger houses and plotted houses in Sohna area had increased manifold and most of the people are working with big corporate houses, they are looking for bigger homes away from crowded areas. Also people were moving to relatively affordable areas such as the Dwarka Expressway, Sohna and nearby localities, said Surinder Singh.

Brands need to understand customer sentiments now more than ever : Mr. Parag Kulkarni, Managing Director, A. O. Smith India.

The COVID-19 pandemic has created a fundamental shift in the relationship between consumers and products and with more people spending time at home, the consumer products industry is expected to see a sustained growth in 2022. The real estate sector has also witnessed green shoots of recovery in 2021 and is expected to experience additional growth, which will also drive demand among ancillary industries.

The pandemic, while having had insufferable consequences for many, has also opened doors for opportunities and innovation for the consumer durables industry. People are now investing in value-based, smart and meaningful products that help them lead a healthier life, including water purifiers and water heaters. We are seeing good traction for our products not only in the metros, but also in tier-2 and tier-3 cities across the country driven by traditional channels and Ecommerce. We believe that product innovation, product upgrades and service excellence will be key to successfully engaging the market. Consumer centricity has always been our key focus and our current communication strategy is to be relevant and contextual, emphasizing health and hygiene.

We believe brands need to understand customer sentiments now more than ever and communication must resonate that. At A. O. Smith India, we will continue to remain optimistic and observant in 2022 and will continue to focus on our ambitions with resilience.

Coworking spaces are best positioned to adapt and redefine the future of workspace : Mr. Manas Mehrotra, Founder, 315Work Avenue

The future of work is changing rapidly and will almost be permanently oriented towards greater flexibility as the pandemic has brought about fundamental changes in life and work. Coworking spaces are now doing well and witnessing robust operations in the current scenario. With flexible spaces becoming mainstream, the coworking companies have seen a massive spike in the number of enquiries this year. While the first half of 2021 impacted coworking spaces, there was very strong recovery in the second half of the year. After unlocking, people started to seek new working styles and the demand for flexible workspaces is constantly increasing not only because such spaces perfectly fit the ‘new normal,’ but they also provide companies with an option to save costs, boost productivity, enhance work experience and provide flexibility to employees. Overall wellbeing is the priority with focus on preventive, safe and healthy coworking environment that attracted many businesses. The pandemic has highlighted the importance of de-densification of office space and adoption of hub and spoke model.

In 2022, companies will continue to adopt the hybrid working model. Companies have come to realize that employees are their greatest asset and that they must take cognizance of their needs and preferences. A few trends that will dominate the co-working industry in 2022 include continued demand by large enterprises with customized workspace design requirements, preference for satellite offices, preventive health strategy by businesses and enhanced focus on technology adoption. Now, more than ever, flexibility is crucial and hence coworking spaces, with their natural flexibility and inherent readiness to add value are best positioned to adapt and redefine the future of workspace. The demand for flexible space will also be largely driven by consulting, IT-BPM, and ecommerce firms that are establishing multiple satellite offices in metro cities. As per a recent report, the industry is expected to double over the next five years at a compound annual growth rate (CAGR) of 15 per cent. Industry estimates indicate that the demand for coworking spaces is already 80%- 90% of pre-Covid-19 levels. The workplace has now evolved from being purely functional to being more productive, experiential, and meaningful and hence this indicates a brighter future for this new age asset class.

Over the long term, ‘survival of the fittest’ is likely to be the new norm. This industry needs a strong foundation to scale up and smaller players don’t have the bandwidth for that. Consolidation has become inevitable because the model works on building scale, and that’s the key way for the business to grow. Therefore, it goes without saying that the coworking culture will drive the future of the corporate realm and is an idea that is here to stay.

Mr. Manas Mehrotra, Founder, 315Work Avenue, a new age and rapidly growing coworking space provider.

Pop, Ffizz, Clink…

New Delhi, December 31st, 2021: The Claridges Hotel New Delhi has planned the perfect New Year’s Eve celebrations for guests. With stunning bedrooms, great restaurant ambience and delicious delicacies, the hotel is the perfect choice for ringing in the New Year 2022 with friends, family and loved ones.

Recognising the need for caution as we usher in the New Year, The Claridges Staycation packages offer the safety of home with the luxury of an all frills New Year’s Eve. But for those who would prefer to celebrate the New Year at home, our restaurants will curate the perfect menu and send it home in ultra-safe conditions. For those who would like to venture out, we will ensure sanitised service for a safe and memorable evening. From the first glass of champagne to the magic of the final dance, ring in the New Year with a lavish dinner at any of The Claridges elegant restaurants.

Here’s what we have planned to make your New Year’s Eve a very special time…

Champagne Party Theme- Sevilla Toast the arrival of 2022 with champagne! The Sevilla restaurant has planned a romantic gold-themed evening with a delightful seven-course meal and, of course, a glass of your favourite bubbly!.

Staycation:

The Claridges Delhi extends its uncompromising commitment to hospitality. The warmth, the joyous welcome and impeccable service will guarantee an unforgettable New Year’s Eve. The hotel will offer late-night revellers a welcoming space to replenish their energy before their first meal of the New Year. Guests can also extend their stay either before or after the big night. All these are available with Sevilla’s restaurant package.

To mark the festive occasion, our restaurants have prepared a special a la carte menu. The menu offers a choice of individually priced dishes for each course. You can choose as much or as little as you want from the widest variety of delicacies at Dhaba, Pickwick and Jade restaurants.

Bring home a bouquet of flavours with a unique selection of dishes. Keeping the safety of guests in mind, Tiffin by Claridges will deliver your favourite delicacies at your home: Paneer Tikka, Murg Malai Tikka and Balti Meat, to name a few from Dhaba – a one-stop destination for the best traditional North Indian delicacies; delicacies like Guiyang Chicken, Crispy Fried Chicken Wings, Green Beans and Water Chestnut Dumplings and more from Jade – the fine dining Chinese and Thai cuisine restaurant; and the Claridges Club Veg Sandwich, Lamb Chops Souvlaki, Tomato and Basil Soup, to name a few from Pickwick, our multi-cuisine restaurant. Enjoy your favourite desserts Baked Cheesecake with Berries Compote, Red Velvet frosted cake, and chocolate corn pudding and many more from Ye Old Bakery – the iconic dessert destination.

Lunch or Dinner, Tiffin by Claridges assures delicious delights curated and delivered to your doorstep maintaining all safety measures. Savour authentic world cuisines in the comfort of your home with just one tap.

The Claridges’ understands you and understand the need to celebrate. Happy New Year 2022!