All posts by Neel Achary

Business World

City’s biggest Metro Hub at Kanjurmarg to boost residential realty in the area

Nov 5, 2020 by Neel Achary 0 Comments #Director of Runwal Group., #Kanjurmarg, #Mr. Subodh Runwal

With Maharashtra Government’s recent announcement to relocate the Metro car shed from Aarey Colony to Kanjurmarg, the Kanjurmarg site for the Metro depot is set to become perhaps the city’s biggest Metro hub if materialized.  The Kanjurmarg car shed will cater to four metro rail lines, including the proposed 45-km long Badlapur-Vikhroli (Metro 14) route, Colaba-Bandra-Seepz-Kanjurmarg (Metro 3), Swami Samarth Nagar-Lokhandwala-JVLR-Kanjurmarg (Metro 6) and Wadala-Kasarvadavali (Metro 4) corridors.

Recently, MMRDA held a meeting to discuss the transit-oriented development model for Kanjurmarg. “We have 102 acres and it is absolutely feasible to have multiple car depots on this land. The proposal is to have a double-decker car shed so that we can have more stable lines for the various Metro routes. In 5-6 years, Kanjurmarg will become the interchange zone for Metro lines. Through one site, we shall be able to provide easy connectivity to different parts of the city,” said a senior MMRDA official.

Sources said that apart from connectivity, the site will also be commercially developed, providing for offices and shopping malls.

The changing landscape of the Mumbai Metropolitan Region has ensured the rise of prime residential hotspots and one such area that has undergone metamorphosis in terms of infrastructure development over the years and emerged as a great investment avenue is Kanjurmarg. Reputed real estate developers have already established their footprint in Kanjurmarg owing to its future growth potential.

“With excellent connectivity due to Express Highway and the upcoming Metros, access to upmarket lifestyle spots, quality housing and extremely attractive real estate prices, Kanjurmarg is poised for an exponential rise similar to Powai. It is an extremely attractive option for luxury home buyers”, says Mr. Subodh Runwal, Director of Runwal Group.

Kanjurmarg has excellent connectivity with the business districts of Thane, Powai, Vikhroli, Andheri, Airoli and BKC as well as South Mumbai via LBS road, JVLR, Eastern Express highway, SCLR and the Eastern freeway. It’s strategic positioning on the central line provides easy accessibility to both the Harbour and Western lines of the city’s local rail network.

Post the development of metro hub, it can rightly lay claim the most coveted property investment hotspot tag. Today, it is a vibrant, pulsating suburb that boasts of well-developed infrastructure, remarkable connectivity and residential projects that adds a new dimension to luxury living. As compared to the other premium and adjacent destinations such as Ghatkopar, Mulund or Powai, the residential market of Kanjurmarg remains quite attractive.

Education

Leaders should act fast in times of crisis, says Dr. Brian Mcgarrie, University of Birmingham

Oct 31, 2020 by Neel Achary 0 Comments #Amity University Gurugram, #Birmingham University, #Dr. Brian Mcgarrie, #PB Sharma, #UK, #University of Birmingham, #Vice-Chancellor

Office of International Affairs, Amity University Gurugram organized a virtual webinar on “Leading & Managing Through Crisis: The Case of COVID-19” under the banner of “The International Expert Talk series”. The Session was delivered by Dr. Brian McGarrie, Director- Executive MBA Programs, Birmingham University, UK. Following the vision of our Hon’ble chancellor Dr. Aseem Chauhan on augmenting internationalization, AUG has an active interface with accomplished academicians across the world regularly.

Dr. Brian mentioned different types of crisis and also about various stages of a crisis which the organizations could face in their functioning. He gave some very lucid examples to explain some of the crisis that has affected the world before COVID 19. In the Indian context, he highlighted some of the disasters such as the Indian Ocean Tsunami 2004 and also the Bhopal tragedy that occurred in 1984. He emphasized that in such a scenario, the government must address challenges on three fronts – How do we address the health crises? , How do we address the economic crisis? And, how do we keep the business of the government operating? He suggested that the government should respond fast to recover and thrive from such crisis.

Amity University Gurugram Webinar

He raised a very important issue as to what does good leadership looks like during a crisis. The salient features that emerged from his discussion are- acting with urgency, communicating with transparency, responding productively to missteps, and engaging in constant updating. He further brought out a very relevant point where he emphasized that it is wrong to think that the work of the leader is to set a course and stick to it. He opined that leaders must constantly update their understanding of prior probabilities deliberately using strategies to elicit new information and learn rapidly as events unfold and new information comes to light.

Dr. Brian is the Executive Director at Birmingham University, UK. He teaches Crisis Management and Organizational Reliability and Resilience. Brian has recently taught in Singapore, Malaysia, India, Jordan, and Zambia and worked with Airbus on their World Class Leaders Programme and taught a Risk and Crisis Management Executive Programme for Singapore Social Services.

Prof. (Dr.) PB Sharma, Vice-Chancellor, Amity University Gurugram in his special address highlighted resilience that India is demonstrating in the handing of Covid 19. Leaders must act with urgency and they must acknowledge the crisis. Often delay in crisis creates unmanageable situations. Leaders must also act a tremendous amount of robustness on the policies and their execution.

The discussion was hosted and moderated by Vice-President- RBEF and Director- International Affairs, Prof. (Dr.) Gunjan M Sanjeev. While delivering her speech, she talked about the necessity of new leadership models to be adopted to lead through the crisis and managing organizations.

Several senior officials actively participated in the discussion -Dean-Students Welfare, Maj, Gen. GS Bal (Retd), Director-HR, Rear Admiral KK Pandey (Retd), Director-Admission and HoD-ABS, Prof. (Dr) Vikas Madhukar, Director-AIBAS, Prof. (Dr.) Rajesh Nair and Deputy Director- ASH, Prof. Arunagshu Bhattacharya. The session emerged as a great platform where all participants came forward enthusiastically to express their thoughts with the esteemed speaker.

This virtual event was coordinated by Ms. Shaivy Sharma, Office of International Affairs. The session was attended by over a hundred participants and was appreciated by the audience from both India and as well as overseas.

Business World

Over 50% of internet users in Asia will be using digital financial services by 2025

Oct 31, 2020 by Neel Achary 0 Comments #Cambodia, #Digital Financial Services, #India, #Indonesia, #Internet Users, #Philippines, #Southeast Asia, #Sri Lanka, #Thailand, #Unafinancial, #Vietnam
Analysts of the international fintech holding UnaFinancial revealed that more than half of internet users in the developing countries in South and Southeast Asia will be using digital financial services by 2025. Besides, by 2027 even digitally underdeveloped countries in the region will provide access to the Internet and digital technologies to 85% of the population.
The research considered the penetration of digital financial services in Cambodia, India, Indonesia, Laos, Myanmar, the Philippines, Sri-Lanka, Thailand, and Vietnam.
As the development of online financial services largely depends on access to the Internet, the analysts made a forecast of the maximum Internet penetration for each country first. This level can be as high as 81-85% depending on the age structure of the population.
UnaFinancial
Taking into account the Internet penetration rate of the previous years, as well as the government measures towards digitalization and the impact of Covid-19, the analysts have predicted that Thailand, Vietnam, Indonesia, Philippines, Cambodia, India, and Sri Lanka will reach the maximum possible Internet penetration of 81-85% by 2025. The two remaining countries, Laos and Myanmar, will reach this level in 2027.
Given the year of the maximum Internet level for each country, the experts estimated the penetration of digital financial services. The forecast considered the share of the population having online financial accounts and the increase of financial inclusion during the previous years.
It revealed that in most countries, more than 50% of internet users will be using digital financial services by 2025-2027. In India, Thailand, the Philippines, and Indonesia the level of financial services penetration will be especially high – from 62% to 69%. Meanwhile, in Cambodia, Laos, and Myanmar it will be relatively low. In these countries, the development of online financial services can be faster if the government takes a combined approach to develop financial technologies in terms of the legal framework and increase of digital and financial literacy.
Business World

Crystals: The Perfect Gifting Option

Oct 28, 2020 by Neel Achary 0 Comments #Dr. Priya Kaul, #Spiritual Life Coach

By: Dr. Priya Kaul, Spiritual Life Coach (Hope Creator).

The festive season is around the corner and we are all looking for the perfect gift for our loved ones. If you are one of those who wish to gift something truly precious and unique, think ‘Crystal’. If experts are to be believed, crystals have been a part of good fortune for centuries, and have a special place in many cultures. They not only heal the soul but also bring in positivity, good energies, and enhance the beauty and looks of the wearer.

When it comes to gifting crystals, there are different ways that people choose. Some prefer larger display pieces, while others choose tumbled pieces meant to be carried in a purse or pocket.  You may also gift from your own personal collection, passing on a stone with special meaning to you, or you can also shop a brand new one. You may also choose to gift it in the form of stylish jewellery, which the wearer will surely love and flaunt. Whatever your selection method, the intention should be to cleanse and bring in prosperity and peace in the life of the wearer. Have a look at the popular crystals, which you may choose for gifting purposes this festive season.

Smokey Quartz

If you are phobic to certain issues it is suggested to wear smokey quartz, as it helps dispel fear and anxiety. It is often called a wonderful practical stone, which aids in meditation and calming rituals. The beautiful deep brown gradient color gives a mesmerizing view for the perfect style statement as well.

Jade
Also called as “Dream Stone”, it helps you get insight into ritualistic knowledge, encourage creativity, and has dream-solving and healing effects. This stone signifies wisdom gathered in tranquility and is very effective in dispelling negativity and also boosts confidence.

Pukhraj

It protects you from evil and also provides marital happiness and satisfaction. For single women, it is highly recommended, as it helps provide a loving and prosperous groom, and nourishes the marital life as well.

Black Tourmaline

Potent, inky black, and with strong grounding forces, this jet colored stone is known for being a swallower of negative energies. It effectively helps absorb dark feelings and convert anxious vibrations into a positive spin that helps boost the soul in the long run. This stone is deeply connected to your base chakras and helps you feel safe and secure in the journey of life.

Carnelian

It’s a stabilizing stone, which restores vitality and motivation, and also stimulates creativity. It is believed that it helps in boosting courage, positivity, and apathy in the wearer. It also motivates the wearer to dream and achieve success in all walks of life. Carnelian is useful for overcoming abuse of any kind, build self-trust, and change life perceptions.

Amethyst

According to historians, the ancient Greeks used amethyst to help promote sobriety, both in body and mind. And since then, it has been considered as a calming and meditative stone, which is also an easily giftable crystal.  It radiates love and inner peace, and it is believed that it helps the bearer approach a problem-free of emotional attachment or prejudices.

Rose Quartz

It’s the stone of universal love that helps restore trust and harmony in relationships, and encourages unconditional love. It helps open your heart at all levels of life, make you understand the meaning of friendship and affection.

Azurite

It’s a deep rich blue color stone, which makes for a beautiful gift for those who wish to build inner vision and insight. It is believed that this precious stone helps cleanse and activate the third eye chakra, which can enhance and allow for greater creativity. It is often found with malachite, and they are even more effective together.

Business World

Beauty Industry to Lose $175 Billion USD in Revenue Due to COVID-19

Oct 27, 2020 by Neel Achary 0 Comments #Beauty Industry, #Fraicheur, #Ingrida Cerniauskaite

Consumer behaviour has changed significantly as the use of beauty products has drastically declined. Data acquired by Fraicheur.com indicates that for the first time in decades, the beauty industry is set to lose $175 billion USD in 2020.

Changing consumer habits reduce revenue for almost all beauty products

From the data, it is clear that COVID-19 has greatly changed the beauty habits of every customer. Due to work from home becoming the new norm, the use of skincare and makeup products experienced a significant decline of 20%. Personal care products are faring slightly better with only a 3% reduction in overall use.

As a large part of the beauty industry’s customers continue working from home, hope for complete recovery is slim. Data has shown that 90% of women use little to no makeup while at home which has greatly cut into spending on beauty products. As long as social activities continue to decline, a return to previous levels of consumption is unlikely.

Fraicheur CEO, Ingrida Cerniauskaite, said:

“COVID-19’s impact on the beauty industry is undeniable. Our acquired data shows that we are looking at a rare loss of revenue. Yet, there is hope in the online market. As our customers move towards shopping online, so should our businesses. With enough innovation and adaptation, we can greatly lessen the blow dealt by COVID-19 to our beloved industry.”

A chance for recovery seems to lie online. Innovative beauty solutions for the internet age might be able to hasten the recovery of the industry.

Read the full story with statistics here: https://faceiceglobes.com/blogs/news/beauty-industry-to-lose-175-billion-usd-in-revenue-due-to-covid-19

Business World

Event industry will bounce back: Rakhi Kankaria, Neeraj Thakur, TCEI President and Secretary

Oct 24, 2020 by Neel Achary 0 Comments #Telangana Chamber of Events Industry

Hyderabad: The Telangana Chamber of Events Industry (TCEI), a nonprofit body of event management professionals presented on Saturday in the city at Hotel Hyatt Palace, Road No . 1 Banjara Hills,  TECI Stri Shakthi Awards 2020 to Women achievers from the most unusual fields, in the events industry vertical.

Rakhi Kankaria, President of TCEI said, it is the most sought after honour to the deserving women of our industry as there is no platform to recognize their talent exclusively in the event industry.

Though women comprise 30 per cent of the event industry, they are the most creative brains behind many successful events  and the creativity, Rakhi said.

The event industry was the worst hit because of the pandemic. Through this kind of small, small events we want to instill confidence in our clients that hosting events is safe under new normal. We follow strict SOPs, so our events are very safe added Neeraj Thakur, Secretary General of TCEI.

This was the 3rd edition of the awards. The awards were given away in two different categories–Stri Murti Awards 2020 and Stri Shakti Awards 2020, Rakhi Kankaria informed.

Stri Shakti Awards 2020, Rakhi Kankaria

Playback Singer Bhargavi Pillai; the city’s top Emcee(Master of Ceremonies) and founder of Star Ventures Meher Aria; Director of Vedic Events Ms Prasuna,  wedding planne for SS Rajamouli son’s wedding recently; young and dynamic BNI Executive Director, Sanjana Shah, who being just in twenties runs seven different businesses successfully and Founder of Pinnacle Group of Hotel Management Colleges, who founded a college twenty years back Ms Sridevi Yerroju were bestowed with top honour with Stri Murti Awards.

Another 25 distinguished women achievers were given away Stri Shakti Awards. Some of these include: City’s top birthday event organiser Jyoti Varma Addala; Michelle J Francis, head of Placements of NITHM(National Institute of Tourism and Hospitality Management); Rupa Sureka of Celebration Makers and others.

Sanjana Shah who just stepped out of her home in last nine months to receive the award said, women are naturally multi taskers. Sanjana who is just under thirty runs 7 businesses successfully and heads BNI as its regional Executive Director. I am a born networker. I prefer connecting people she said. She is fast spreading BNI network in the city with 31 clubs.

Meher Aria said that she is into event industry for the past 22 years and counting. Nothing is impossible is my manthra for success. She told women to unleash the champion in them.

A woman, they say, not as strong as a man.  A woman they say, can’t do what he can. But, women proved otherwise. They entered into those fields which until now are considered as men only professions. We have handpicked a few outstanding women for the coveted awards. In TCEI we have 350 members, but we need more women she said.

Neeraj Thakur said Navratri is the celebration of Woman Power – Shakti, or the female (Strī) principle of Nature (Prakriti). Navratri festivities are dedicated to Parvati, Lakshmi and Saraswati – the three feminine icons symbolising power, wealth and knowledge. TCEI Women Entrepreneurs’ Club takes the Navratri/Bathukamma festivities to the next level by instituting the  awards.

According to Neeraj Thakur, Telangana has 1100 event management companies. About 5500 associates or allied companies support event management industry. Nearly 50 lakh people depend on event industry in Telangana. We will showcase more such small events to build customer confidence in events, he shared.

Business World

The increasing prominence of Aluminium in the Medical Segment

Oct 14, 2020 by Neel Achary 0 Comments #Mr. Naveen Mehta, #Sr. Vice President – Extrusion Operations at Jindal Aluminium Limited

By Mr. Naveen Mehta, Sr. Vice President – Extrusion Operations at Jindal Aluminium Limited

Aluminium is an industry-friendly metal used in industries for decades due to its mechanical and other properties like lightweight and tensile strength. Not only in the medical segment but also the many devices that are altering healthcare; thanks to aluminium, people across the globe are living healthier lives. The aluminium industry in our country can witness a strong growth prospect in the upcoming years. While the national aluminium demand has been rising at the rate of 10% every year, it is predicted that aluminium consumption will double in the subsequent five to seven years.

Aluminium is categorized with properties of ductility, malleability, and high conductivity. It also features distinctive physical properties when compared with other metallic materials. While some aluminium alloys outshine due to their high strength-to-weight ratio, thermal and electric conductivity and resistance to corrosion, and also properties like flexibility, elasticity, and reflectivity. These properties have been accountable for driving the application of aluminium in vital sectors like healthcare and pharmaceutical. The sustainability and biodegradability of aluminium has also optimally leveraged its application in the medical segment. It has resulted in an increased production of the metal and also contributed to the growth of the global aluminium market.

As per industry experts, it has been researched that the global aluminium market is estimated to grow at a CAGR of 6.4% between the years 2017 and 2025. Developing at this rate, the market will be valued at US$249.29 bn by the end of 2025 from US$143.87 bn back in 2016.

Extensive usage of the metal in the healthcare domain accounts for its dominance:

In the domain of healthcare, technological developments of medical devices are an important aspect and this has been a major reason for the increasing dependence of the metal. There is no room for inaccuracies when it comes to medical care since lives are factually at stake. Hence, for any material to be fit for application in this sector, it mandatorily has to meet extremely high standards of performance, functionality, and dependability. This is where the metal predominantly outrivals its equivalents. The extruded aluminium shapes are extensively used in manufacturing a wide range of machines, devices, and other medical instruments like stethoscopes, surgical trays, bedpans, cans and containers, medical diagnostic equipment like MRI/ CT scan machines, X-ray machines, and others.

Medical device OEM’s turning to aluminium over other metals during the pandemic:

As an effective strategy to cope with the current world crisis, the usage of surgical respirators and facemasks has become a chief part of a larger strategy to create physical barriers between infected and uninfected individuals. The sharp rise in the demand for masks and respirators has brought about awareness of the materials that go into its making. Medical face respirators require the appropriate type of accessories to offer comfort on the mouth, as these are worn for a longer interval of time. Aluminium strips also named as 90 mm aluminium nose wire used on the nose wire of the face masks to support the mask on the bridge of the nose. Although the nose pin used on masks is available in both plastic and aluminium, the latter is used to offer higher rigidity in masks and is a significant metal component, particularly in a cup shape mask.

Aluminium usage in pharmaceutical packaging to have steady future growth:  

Pharmaceutical packaging is an important part of the manufacturing process that enables in securely transporting drugs from producer to patient. Dynamics like growing population, rise in disposable income and an upward focus to discard plastics in packaging is expected to drive the growth of aluminium for the Pharmaceutical sector in India. The aluminium foil packaging market across the globe is confident to reach US$ 40 Bn by 2030, with a steady growth rate of 6% over the forecast period. Increasing demand for ready-to-eat consumables and pharmaceutical products, amid the global crisis, is driving significant growth opportunities for the aluminium foil packaging market in our country. Moreover, the growth of the foil-wraps aluminium packaging market is due to the ability of the metal to lend water-resistance and cost benefits over other alternatives like plastic. It indicates that Aluminium foil packaging used in the pharmaceutical industry will claim the market pie, accounting for more than one-third of the total market share, with a 4 percent growth rate over the estimated period.

High-quality medicines require packaging that protects against ecological influences like moisture. The demand for aluminium foil for the drug blister packaging is gradually rising. Blister packs for tablets consist of a moulded foil having cavities for the separate tablets, along with a push-through closure composed of aluminium foil, which is known as blister film or lid film. Due to this, the capsules and tablets remain hygienic and have a longer shelf life. Both soft and hard aluminium foils are useful for the cover foils of the push-through packaging. Additionally, the sustainable nature of aluminium foil enables the pharmaceutical packaging sector to contribute to plummeting carbon emission without causing any harm to the planet.

Ongoing technological innovations and mounting awareness about the benefits of aluminium earned it a preference in various industrial set-ups establishing it into a super-material suited for any application.

Business World

How to Scale Your Startup Sales in 2020

Sep 19, 2020 by Neel Achary 0 Comments #businesses, #startup

Growth is the goal for every company that exists.  Unfortunately, a big mistake many businesses make is thinking that their advertising and lead generation can run the same way despite the size of the company changing.  You can scale your scales, your advertising,  and your customer relations with a few changes that put value back into your company.

Here’s how to scale your sales and encourage that growth to keep going as your company picks up pace.

Think About Your Company’s Purpose

What is the root belief, skill, or item that your company offers?  Consider how this differs from other companies and consider how you can make this clear to your leads and customers.  You will need to prove your company’s worth in a way that you can believe in, and your potential leads will be more likely to have faith in it as well.

Make a mission statement out of this purpose, and use the ideals you set to advertise your company effectively.

What’s Your Demographic?

This information is something you should consider before you start up your company.  Who are you trying to sell your product?  Who could most benefit from your service or product?  From there, research what platforms or sites these people would use, what time of day they’d be more active, and what kind of advertisements would work best on them.

This information is vital since you’d want to advertise to women over fifty on Facebook, but younger people of any gender are more easily caught on TikTok or Twitter.  Advertise in a way your audience would connect with, and find them at their level.

What Image or Personality Does Your Company Show

Your advertisements should show some flavor of personality.  Think about what attitude your company gives off, and how you can make that into almost a character with which your customers can interact.  You don’t have to be as sassy or extreme as Wendy’s is on twitter– but you can use an artificial personality like this to garner attention and give your leads an emotional connection to your company.

Work On How You Bring In Leads

There are dozens of ways to bring in leads; it’s vital that you think about passive ideas that inspire leads to click your website.  These include SEO, PPC, and things like social media integration.

Search engine optimization will pull in leads faster than any other type of advertising.  This plan can be achieved by hosting articles on your site, creating guest articles on other sites, or riddling your website with searchable terms.  Companies that have blogs on their site get clicked more often and are more likely to turn those clicks into customers.

Pay per click is even more passive since it’s classic advertising that finds your customers and pulls them in.  With proper advertising, from short videos for youtube ads to static images to go through Google Adsense, you can see which type of advertisements work best for your company.

Social media is vital for every startup.  Twitter and Instagram are like storefronts for many companies, that help funnel customers directly to their websites.  This type of advertising means that they can reach a possibly unlimited number of leads, and will open options for how to advertise.

Look At Past Data

Review what types of advertising has worked for your company in the past.  This option will also help you see what hasn’t worked and can give you the push you might need to drop advertising or communicating styles that don’t work for your company.

If you don’t have much information on your advertising practices and results yet, now is the time to collect it.  Knowledge is financial power and will give you the support you need to feel confident in any changes.

Check Your Pricing

If your sales are going up, now is the time to review your product and pricing.  Your business isn’t a can of Arizona tea that permanently has a price stamped on it.  As you grow, rework your product, or have the power to revalue it- your price should increase to some degree.  This work will give your company more money to invest back in itself and give you the chance to think about whether your product can be improved.

Retrain Your Team

No change is complete until your entire team has been trained on it and understands the transition.  Take ideas from your unit, anything from how they would approach advertising, to how your sales meetings can become a personalized experience.  Explain how any changes you’re making will help the company and let them know what steps to implement these changes and do their part.  Your company is only as reliable as its least informed employee.

Follow Up To Ensure Changes Work

Once your changes are completed or are well underway, go over what information you gather from your changes.  If the changes don’t seem to be working right off the bat- give them a little more time.  Don’t wait longer than a quarter before declaring something successful or not, but also don’t waste time on anything that may damage your business.  You have to think about what will benefit your company in the long term and groom your advertisements and company to fit that mold.

Health

Pre book your vaccination through WondRx app

Sep 16, 2020 by Neel Achary 0 Comments #health-tech start-up, #irector of WONDRx, #Mr Pankaj Agrawal, #Pankaj Sindhu

September: A Mumbai-based health-tech start-up launched an application for Indian citizens to book an appointment with the nearest doctor or the vaccination clinic to get themselves vaccinated. Bringing in much needed convenience and transparency, this platform will ensure vaccination reaches every nook and corner of India. The health-tech firm, WONDRx, has tied up with doctors and qualified healthcare service providers across the country to ensure easy accessibility of the vaccine to the concerned citizens through an app. WONDRx has already curated and listed 180K plus healthcare providers on its WONDRx consumer app, making it the largest healthcare providers’ aggregator in India.

Speaking on the occasion, the co-founder and Director of WONDRx, Mr Pankaj Agrawal said, “Our app would list the details of all vaccination clinics that we are curating, along with the fees to be paid for availing the vaccination at a pre-booked time slot. Vaccination booking via pre-booked slots will ensure crowd management as well while maintaining social distancing aspects. People from every nook and corner of this country would be able to take an informed decision based on the details provided.”

“Our app would act as a bridge between the residents of each state and the vaccination clinics. This would help the people to schedule their appointment with the vaccination clinics of choice and do away with waiting in uncertainties and long queues,” he added.

The app would be compatible with Android phones in the first phase and iOS versions would be launched at later stages. This app would be available as a free download from Google Play Store for every consumer and healthcare provider of this country. Dwelling on the advantages of this product, the Founder and Director of WONDRx, Mr Pankaj Sindhu, stated, “This product will make the vaccination journey highly convenient for every stakeholder — consumer, doctors, vaccine distributors and manufacturers — while ensuring required transparency and control around vaccination. It would give control and visibility right from the manufacturer to the end consumer at the last mile and ensure a controlled supply chain.”

WONDRx is a made in India health-tech start-up working on Digital India mandate augmenting AtmaNirbhar concept across the healthcare stakeholders in the country.

Business World

DBS Bank unveils hassle-free, online SME loans; Offers in-principle sanctions up to INR 5Cr in 24 hours

Sep 16, 2020 by Neel Achary 0 Comments #DBS Bank India, #DBS Digital Business Loans, #Head - Business Banking, #Managing Director & Country Head - Institutional Banking Group, #Niraj Mittal, #Sudarshan Chari

MUMBAI, September 16, 2020: Driven by its constant focus on building seamless, intuitive and hassle-free banking solutions for customers, DBS Bank India today unveiled its online credit solutions platform – DBS Digital Business Loans for SMEs. This segment-flagship platform from DBS improves the ease of accessing business credit for the entire spectrum of micro, small and medium-sized enterprises, offering credit up to INR 20Cr.

The loan application process is simple and can be done online by just uploading bank statements, and IT Returns (financial statements for loans above INR 5Cr). The data-driven platform then pulls in credit-related information at the backend and runs a financial health analysis on the overall business of the applicant. The platform is enabled to auto-generate an e-offer letter if the lending criteria is met.

Enterprises with a turnover of up to INR 25Cr can receive in-principle approval for loans of up to INR 5Cr within 24 hours* subject to completion of the loan application and fulfilment of the lending criteria. Subsequently, a final e-offer (subject to a successful verification process) for credit up to INR 5Cr for a company with a turnover up to INR 25Cr, can be sanctioned in just 5 working days*. Once the customer accepts the offer, DBS starts the valuation process. The disbursal can be made in as less as a week after the final sanction. DBS offers both, a DBS Relationship Manager (RM) – initiated self-serve (in select locations) as well as an RM-assisted credit application on the DBS Digital Business Loans platform.

Commenting on the offering, Niraj Mittal, Managing Director & Country Head – Institutional Banking Group, DBS Bank India, said, “It is more important now than ever to support our customers, especially the micro & small enterprises, to navigate the challenging business environment. DBS Digital Business Loans proudly underscores the bank’s commitment to supporting lives and livelihoods. We are attempting to leverage the true potential of our online credit platform, and have continued to disburse credit, even amidst the lockdown. DBS has also been offering the ‘Guaranteed Emergency Credit Line’ scheme in line with the government’s Covid-19 relief efforts.”

“Boosting credit access to businesses has been our top priority, and DBS Digital Business Loans for SMEs is another step towards reshaping the future of business banking by leveraging digitalisation. DBS will continue to support enterprises to unlock new opportunities through this solution. DBS Digital Business Loans further strengthens our existing suite of business banking offerings, such as Payments & Collections, Remittances, Forex Solutions including FX Booking & FX Forwards, Enterprise Resource Planning (ERP) Integration, APIs, Trade Solutions including DBS Network Letter of Credit, etc.”, Mittal added.

Speaking about the nuances of the online credit platform, Sudarshan Chari, Head – Business Banking, DBS Bank India, said, “We always strive to sanction the adequate quantum of funding with competitive interest rates, to help customers grow their businesses. Leveraging DBS Bank’s technology prowess, we are setting a new industry benchmark with DBS Digital Business Loans. Through this platform, we are sanctioning e-loan offers in a matter of hours, significantly faster than the current market standard of over a week. We require minimal documentation for our decisioning and have even disbursed loans, end-to-end, in under 10 days*. The process is completely transparent, and the borrower can check the status of their loan application online, anytime.”

The bank has completed the pilot run for the DBS Digital Business Loans platform in New Delhi, Mumbai, Bengaluru, Chennai, Pune, Surat, Nashik, Kolhapur, and Kolkata. Loans worth INR 1,000Cr have already been disbursed via the platform to various businesses engaged in trading, manufacturing and services in these markets. Going forward, the bank will also offer the online credit platform to businesses in Gurugram, Noida, Navi Mumbai, Ahmedabad, Vadodara, Rajkot, Hyderabad, Coimbatore, Ludhiana, Jaipur, Nagpur, and Bhubaneswar.

With the establishment of a locally incorporated, wholly-owned subsidiary in 2019 – DBS Bank India Limited, the bank has accelerated its growth plans in the country and is building a greater scale by adopting a ‘phygital’ model. The bank has a total of 35 branches in 25 cities across India. DBS has designed end-to-end digitised solutions to seamlessly interweave banking into everyday life of customers by making it a part of their ecosystem. In keeping with this ethos, it has harnessed the power of technology to design solutions that make banking simpler and invisible for time-strapped business owners. The solutions eliminate the need for cumbersome documentation and offer a seamless and paperless banking experience.