Business - The Purbottar

28 Jul

Hon’ble CM Shri K. Conrad Sangma launches YESS

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Hon'ble Chief Minister, Shri Conrad K. Sangma launched a pioneering initiative in Meghalaya - Youth Engagement through Empowered Youth Organisations (YESS). Through this initiative, registered entities focusing on youth development and empowerment could apply for financial assistance upto INR 1 Lakh if the entity matches the criteria and is deemed fit by the constituted proposal evaluation committee. The program has been formulated in pursuance to the State Youth Policy notified in 2021 which outlines the commitment of the Government of Meghalaya for youth engagement, empowerment and rejuvenation. The broad objectives of this program include Empowerment of youth clubs and organisations…

28 Jul

SVANidhi Mahotsav celebrations in Imphal

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Dr. Rajkumar Ranjan Singh, Minister of State for External Affairs and Education visited Imphal on July 26, 2022 to attend the SVANidhi Mahotsav celebrations hosted by the Manipur Urban Development Agency. The PM Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi) scheme was launched by the Ministry of Housing and Urban Affairs, in June 2020 to empower street vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme aimed to facilitate collateral free working capital loans of up to INR 10,000 for a 1 year tenure, given to approximately 50 lakh street…

27 Jul

Tata Motors partners with Indian Bank

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Tata Motors, India’s leading automotive brand entered into a partnership with Indian Bank to facilitate easy financing for its passenger vehicles customers. This strategic partnership aims to provide customized and attractive car loans from across 5700+ branches of Indian Bank across the country. The easy financing will be available at attractive interest rates starting as low as 7.80%. The scheme will provide up to 90% financing on road funding, with repayment terms of upto 7 years. Customers can foreclose or provide partial payments at no additional fees. Tata Motors’ customers can also register for the finance options through Tata Motors’…

27 Jul

Tata Motors signs an MoU with EC Wheels India Pvt Ltd

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Tata Motors announced its partnership with EC Wheels India Pvt. Ltd (an Associate of Steelman Group), an app based urban transportation service in Kolkata to deploy 1,000 XPREST Electric sedans for cab transportation. With a commanding EV market share of 90% in the east, the signing of this MoU makes for the biggest ever EV fleet order in the region. In July 2021, Tata Motors launched the XPRES brand, exclusively for fleet customers and XPRES-T EV is the first vehicle under this brand. The XPRES-T electric sedan comes with 2 range options – 213km and 165km. It comes with zero…

27 Jul

Tata Motors bags order of 1500 electric buses from DTC

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India’s largest commercial vehicle manufacturer Tata Motors announced that it has bagged a prestigious order of 1500 electric buses from Delhi Transport Corporation (DTC) under the larger tender by Convergence Energy Services Limited. Tata Motors will supply, operate and maintain air-conditioned, low-floor, 12-metre fully built electric buses for 12 years. Tata Starbus electric buses offer state-of-the-art technology for sustainable, eco-friendly and economical public transportation and are equipped with modern features to enable safe, smooth and comfortable travel for passengers. Tata Motors’ research and development facilities have steadily worked to engineer innovative solutions powered by alternate fuel technology, including battery-electric, hybrid,…

27 Jul

ICICI Pru Life Insurance registers growth in retirement business

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ICICI Prudential Life Insurance has registered a robust growth in its retirement business segment which grew 29% from Rs. 2,292 crore in FY2021 to Rs. 2,956 crore in FY2022. The retirement segment has witnessed a healthy growth. The Company launched an innovative annuity product, ICICI Pru Guaranteed Pension Plan, which provides guaranteed regular lifelong pension at a rate of interest that is locked-in at the time of purchase. It has been awarded the “Product of the Year 2021” in the Retirement and Pension category by Product of the Year (India) Private Limited, the world’s largest consumer-voted award for product innovation.…

27 Jul

ICICI Pru Life posts strong performance for Q1-FY2023

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ICICI Prudential Life Insurance has posted a strong financial performance for Q1-FY2023. The VNB for Q1-FY2023 grew by 31.6% year-on-year to 4.71 billion. The VNB margin for Q1-FY2023 stood at 31.0%, up from 28.0% for FY2022. Annualised Premium Equivalent grew by 24.7% year-on-year to 15.20 billion in Q1-FY2023. Annuity APE registered a strong growth of 69.0% year-on-year to 0.98 billion in Q1-FY2023. Protection APE grew by 22.2% year-on-year to 3.30 billion in Q1-FY2023. New Business Sum Assured grew by 24.9% year-on-year to 2.21 trillion in Q1-FY2023. The Company’s market share, based on Total New Business Sum Assured, increased from 13.4%…

27 Jul

Bandhan Bank announces its financial results

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Bandhan Bank announced its financial results for the first quarter of financial year 2022-23. The Bank’s total business (deposits and advances) grew 20.3% year-on-year to reach around Rs.1,89,707 crore as on June 30, 2022. The Bank serves 2.69 crore customers through 5640 banking outlets across 34 of the 36 states and union territories in India. The total number of employees working at Bandhan Bank stands at 61,247. During the first quarter of the current financial year, the Bank’s deposit book grew 20% over the corresponding quarter of the previous year. The total deposits now stand at Rs.93,057 crore. In this…

27 Jul

Over 10,000 Youth in India Register for Samsung Solve for Tomorrow

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Over 10,000 youth from across towns, cities and rural India have already registered for Samsung’s Solve for Tomorrow innovation and education program, showcasing the growing desire among Indian youth to find innovative technology solutions to solve real-world problems. At road shows that Samsung conducted in cities such as Bengaluru, Hyderabad, Delhi, Guwahati and Bhubaneswar, young students said they want to solve problems around safe collection of waste for recycling, job security for daily wagers, language barriers that young students from remote areas face during e-learning, safe disposal of sanitary napkins, mental health of school students, reusing agricultural waste as well…

27 Jul

Maruti Suzuki Unveils Grand Vitara

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Maruti Suzuki is celebrating NEXA’s 7th anniversary by unveiling its game-changer SUV, The Grand Vitara. Grand Vitara is the latest entrant in the NEXA portfolio to feature its signature design language, ‘Crafted Futurism’. A work of art inspired by the future, the design language is exclusively crafted to match the refined tastes of NEXA customers. The Grand Vitara is a multi-product offering that is set to disrupt the SUV market in the country. Featuring NEXA’s signature design language– Crafted Futurism, the premium SUV features a distinct exterior design, sophisticated interiors, segment-leading features and an industry redefining fuel-efficiency powered by its…