Pic Credit: Suraj Rana
Pic Credit: Suraj Rana
New Delhi, 23 Feb 2023: The National Real Estate Development Council (NAREDCO) announced to unveil the ‘FUND CITY’ on the sidelines of the upcoming NAREDCO Finance Conclave to be held at New Delhi on 3rd February. The Fund City is a consortium of Fund Houses, Banks, specialized funds, and other financial institutions. The Fund City will work in partnership with NAREDCO to address the financial requirements of the real estate sector in India.
The main aim of Fund City is to address the funding requirements of stalled as well as new real estate projects across all segments of real estate development in the country. The Fund City also consists of investment bankers and consultants who will analyze and assist in the processing of these stalled or new project funding.
Fund City is very similar to the TV show Shark Tank, with a group of fund houses eager to invest. Developers seeking funding must apply to Fund City, and proposals will be selected by fund houses on a first-come, first-served basis. The pressure of peers will encourage quick completion of selected proposals.
Fund City’s main objective is to secure funding for all stalled, stressed and new projects without any discrimination of size , geography or stage The terms and conditions of funding will be determined by the relevant fund houses and project promoters. Our aim is to assist in completing projects without imposing any specific conditions. Most projects have a positive cash flow upon completion, although negative cash scenarios can occur in rare cases. In such situations, promoters and home buyers may negotiate an arrangement with specific escalation terms, while ensuring definite returns to the lending funds.
NAREDCO Fund City provides new project financing through a specialized approach in order to support deserving real estate projects. Leveraging a network of banks and fund houses, the organization focuses on identifying projects that can create value for stakeholders such as developers, investors, and end-users. By recognizing the unique challenges faced by the real estate sector, NAREDCO Fund City offers customized solutions that cater to the specific requirements of each project, utilizing their expertise to make it happen.
NAREDCO Fund City aims to disburse funds to a significant number of projects and promoters to bring them out of the red. The Fund City also aims to rescue a significant number of home buyers, repay and close a considerable number of loans, and close indirect liabilities. The Fund City will also aim to encourage entrepreneurship in the real estate sector, ease of business, and increase the happiness quotient.” Said Mr. Rajan Bandelkar, President, NAREDCO
“The launch of NAREDCO Fund City is expected to have a great impact on the Indian economy, employment market, organizing the unorganized market, creating CAT A developers of all sizes, working as a financial think tank and encouraging best practices. The Fund City will also reduce the cost of funds for projects, which will impact an increase in profits or reduction of sales prices for buyers and become competitive.” Mr. Sathish Kumar, Chairman, NAREDCO Finance Committee
Developers of all sizes, across all tiers of cities, will have access to Fund City. This initiative is poised to bring about a revolution in the Indian real estate market, with significant secondary and cascading positive effects.
Getting funds from Fund City will be a simple process, with just a single-sheet application needed to express interest from the fund houses. Within 7 days, funds will provide their expression of interest, and once promoters have completed all the necessary formalities, the full process of allocation by the chosen fund house will typically be completed within 30 working days. NAREDCO Fund City has a committed group of banks and fund houses, with more expected to join soon. The full group of fund houses will be shared after the conclave. This initiative is a win-win for all stakeholders, including bankers, builders, government, and most importantly, home buyers. NAREDCO Fund City aims to revitalize the real estate sector and contribute to the growth of the Indian economy.
Mumbai: At a glittering ceremony held in Taj Lands’ End, Mumbai, ET Ascent bestowed Mr. Murali Ramakrishnan, MD, and CEO, of South Indian Bank, with the ‘Business Leader of the Year award. It was the 21st global and the sixth Indian edition of the recognition.
ET Ascent’s ‘Business Leader of the Year award is a singular platform to recognize leaders for their transformational leadership. Over the years, it has felicitated leaders who have succeeded in making a difference in their organizations during challenging circumstances. Mr. Ramakrishnan was awarded recognition for his role in captaining the restructuring of the bank and putting it on a course of growth. His accomplishments at South Indian Bank have been hailed by various stakeholders of India Inc.
Mr. Ramakrishnan expressed his joy at the event by saying, “I am pleased to receive acknowledgment for the collective action that our organization has worked in achieving. Our dedication and passion have propelled us to realize the corporate objective. I sincerely appreciate the support my team has given me to create a successful transformational journey. I thank the organizers and jury for recognizing me with the prestigious title.”
South Indian Bank went through a transformation in the last two years after Mr. Murali Ramakrishnan had taken charge as CEO of the bank. He started the journey by formulating a ‘6 C’ strategy towards achieving the bank’s vision of `Profitable growth through quality credit’. The 6 Cs were: (a) Capital adequacy (b) CASA (c) Cost to Income ratio (d) Competency building (e) Customer focus (f) Compliance. This led to the successful turnaround of the company in terms of its profitability and he believes, it is a continuous process.
Hyderabad, February 23, 2023…..An interactive meeting on Exploring Business Opportunities with Afghanistan was held in the city at FTCCI on Wednesday. His Excellency Farid Mamundzay, Ambassador of the Islamic Republic of Afghanistan in India was the Chief Guest.
Other dignitaries who graced include Mr. Qadir Shah, Counselor (Head of Trade Office) Embassy of the Islamic Republic of Afghanistan, Mr Sayed Mohammad Ibrahimkhil, Acting Consul General, Consulate General of the Islamic Republic of Afghanistan and Mr Sediqullah Sahar, Education Attaché Embassy of the Islamic Republic of Afghanistan, FTCCI President Mr. Anil Agarwal, Ms Khyati Nirawane, CEO of FTCCI, Mr. Chakravarthy AVPS, Chair of- International Trade & Business relations Committee
It was jointly organized by The Federation of Telangana Chamber of Commerce and Industry(FTCCI) and the World Trade Center.
Addressing a gathering composed of trade, travel, import, and export professionals, community looking at export opportunities and FTCCI members. His Excellency Farid Mamundzay asked India and Telangana to look at Afghanistan as a potential future for bilateral trade. India is a natural trade destination he said. .
Five hundred plus Afghanistan students are studying in Telangana in Osmania, Maulana Azad National Urdu University, JNTU, and The Central Institute of English and Foreign Languages. Hundred plus are studying at Osmania University alone. Telangana is contributing to the soft development and capacity building of our youth. Thank you for hosting them, he said.
Later Sediqullah Sahar, Education Attaché Embassy of the Islamic Republic of Afghanistan added that Afghani students prefer India for their higher education. We have over 60,000 Alumni who studied in India in the last twenty years. Nearly 10,000 alumni are from Telangana alone. Telangana is the top choice destination for many students in Afghanistan, he added.
Continuing to address, the Ambassador said, we have deep-rooted history between the two countries. And, also with Telangana. That is the reason why we opened a second Consulate in India at Hyderabad. This is very significant, he said.
The ambassador said the first provisional Government of India was a provisional government in exile established by Raja Mahendra Pratap from Kabul in Afghanistan. We stood against British, he said. Thirty years after that event India got its Independence. India and Afghanistan, both countries are a source of inspiration for each other. We are an extension of India. We have a 1900-year-old Mandir and it is located in Kabul.
Speaking further he said the purpose of my maiden visit is to tell the business community more about Afghanistan. The current trade between both countries is about Rs 12000 crore. India exports more to Afghanistan than we do to India. We export dry fruits, precious stones, semi-precious stones, spices, saffron, and others. India exports Pharma products, textile chemicals, and others. With increasing ties the trade potential can be doubled in a couple of years, he told the gathering
We need help in mining from India. We seek time investment from Indian companies. Our mining is worth over $ 3 trillion US dollars. We also need investments in infrastructure projects, and solar plants, the ambassador shared.
He said that air connectivity between the two nations needs to be improved. Currently, we have two weekly flights, from Delhi to Kabul. We want air connectivity between Hyderabad and Kabul, he said.
I know you are all worried about political stability in Afghanistan. Trade continuity is a sign of stability. In the last 19 months, not a single incident happened which should worry the business community. Our currency is also stable despite inflation. We also offer to export high-quality coal, and base metals to India. We can help India with raw materials and you can give the finished material to us. Amritsar is just 700 km away from Afghanistan. We are not very far away. We are very close to India. We must boost trade relations, the ambassador said.
Nearly 20,000 people in Afghanistan are suffering from Cancer. And 16000 people out of 20,000 die from late diagnosis and lack of medicine. I recently visited Tata Memorial in Mumbai to explore how we can help our people. The market for pharma products is about $ 1 billion US. It is a big market worth exploring, he told Indian pharma companies more so the ones in Hyderabad
Giving his opening remarks, Mr Anil Agarwal, President of FTCCI invited the Afghanistan Government to be part of the growth story of Telangana. Afghanistan is an important trade partner of India. He also urged them to participate in the Industrial Innovation Technology Expo to be held in June.
Ms Khyati Narawane, CEO of FTCCI said the 106 years old chamber provides market access to its members on international trade.
Mr. Chakravarthy AVPS, Chair of the International Trade & Business relations Committee said Afghanistan should have been what Singapore is today. Because it is 1000 times more potent than Singapore.
Let us rewrite history by reconnecting Afghanistan with the people of the rest of the world. He also requested His Excellency Farid Mamundzay, Ambassador of the Islamic Republic of Afghanistan in India to address the safety and security concerns that people have about Afghanistan.
23/02/2023, Haryana – Weather Risk Management Services (WRMS), a pioneer in smart and sustainable farming in India, recently participated at the 11th Krishi Darshan Expo, India’s one of the largest Agriculture events held at Hisar, Haryana. As a leading provider of precision farming solutions, WRMS showcased a wide array of farm IoTs that help farmers optimize their crop yields, reduce costs and improve sustainability. WRMS displayed functional IoTs like Automatic Weather Station (AWS), Automatic Pest Traps (APS), and Automatic Irrigation Switch (AIS) and enlightened the attendees about the WRMS flagship SecuFarm App and SecuTrak solution.
The gala event brought together the major players of the industry via the interaction of farmers, agribusiness, industry entrepreneurs, researchers, technocrats, extension workers, and students under one roof. It facilitated a productive environment for constructive discussions among industry leaders and decision-makers.
Mr. Anuj Kumbhat, Founder and CEO, WRMS, said “Krishi Darshan Expo gave us an opportunity to have enriching conversations with farmers, understand their challenges, and offer them the SecuFarm– our income guaranteeing flagship product. With every conversation we realized that it is extremely crucial for these farmers to overcome the barriers of traditional farming practices & medieval mindset. They are living a life of uncertainty where they are always worried about their crop health and farm income, forcing them to use excess pesticides & water. That’s why SecuFarm remains a holistic solution which provides them with complete downside risk protection and higher yield. This gives them the confidence to invest in the latest technology & drives them towards sustainable farming. “
WRMS flagship SecuFarm app bridges farmers across the country with the latest digital technology in agriculture and handholds them right from the seed selection stage to make sure that they get a better yield by following the package of practices shared with them in their own language. WRMS is currently affiliated with over 10 million farmers; 1 million acres of land have been geo-tagged; 1.5 lakh SecuFarms have been created; and over 15,000 farm IoT devices have been deployed.
WRMS is massively contributing to the manufacturing of low-cost agriculture IoTs not in India but globally. Ingen Technologies Private Limited, a fully owned subsidiary of WRMS, is a leading IoT manufacturer of automatic weather stations, automatic irrigation systems, pest traps, survey drones and soil moisture sensors. The company recently collaborated with the Regional Meteorological Centre, Guwahati, Assam, India, the Meteorological Department (IMD), and the Ministry of Earth Sciences (MoES), Government of India, and bagged the contract for procurement, installation, and maintenance of Automatic Rain Gauge Stations in the North East States of India. The company is working with many government organizations like Karnataka State Natural Disaster Monitoring Centre, Andhra Pradesh State Development Planning Society, and more.
Hyderabad, 23 February 2023: Workruit, an AI-powered career and recruitment platform, has announced plans to collaborate with over 500+ colleges in Tier 1 and Tier 2 cities to prepare students for the workforce with their flagship product, Resume Builder empowering job seekers to achieve their career goals. The technology-enabled platform shall also extend employability services to its students. Workruit aims to equip students with digital skills that will make them future-ready and allow them to have a competitive edge in the race for employability.
Workruit ambitions to fill gaps in existing learning by offering various career advancement opportunities, particularly in non-metro areas. With the partnership, students from the colleges shall get access to the platform to build their cover letters and critical first-copy professional resumes. Students can avail of features like Resume Templates, Video resumes, AI-resume analysis, job description to resume compare and analysis, tips and suggestions, grammar checks and many more. Workruit’s Resume Builder will also support college-selected templates (with college branding). The SaaS platform will provide tips, recommendations, and AI review analysis based on its data bank of over 200,000 HR-approved statements, jargon, and other information compiled by 40+ HR experts.
Students will have a real-time unique Resume URL that can be accessed forever and shared with any employers instantly. Furthermore, students can track the progress of placements in one place, saving management, administration, and the placements team much time. The college also gets access to companies which are a part of Workruit (2500+) for internships, placements, guest lectures; mentor connect and many more activities. The platform will automate hiring and selection via its Tinder interface.
“India’s job market is both competitive and diverse. Recruiters face numerous challenges while screening resumes, making it difficult to identify the right talent. Parallel job seekers are also unable to display resumes that distinguish them as standout candidates. Understanding that, Workruit Resume Builder, with our advanced AI & ML technologies, is addressing a critical issue for the industry by creating a level playing field for both applicants and employers. Also, Workruit Resume Builder is a web and mobile tool that will be helpful for users to explore the tool in their preferred medium.” says Mr. Manikanth Challa, CEO of Workruit.
We have been using the Workruit Resume Builder services for our students and have seen a significant improvement in the quality of their resumes. The platform is user-friendly and provides a wide range of templates to choose from. The students have also appreciated the step-by-step guidance provided throughout the process. We are happy to recommend Workruit to other colleges and universities.” says Mr Delhi Babu, VP – Placements, Mohan Babu University
Mr Raghuveer, Principal, Indian Institute of Management & Commerce (IIMC) said, “The Workruit Resume Builder has been a game-changer for our college placement program. Not only has it helped our students create professional and polished resumes, but it has also provided them with valuable guidance and tips for the job application process. We are thrilled with the results and highly recommend Workruit to other colleges and universities.”
Workruit Resume Builder has built over 1.5+ million resumes on the platform and has users from across the globe. The company has collaborated with many educational institutions and colleges, including the Indian Institute of Management Commerce, Vasavi Engineering College, Mohan Babu University, and the BLDE Association.
The company has recently raised over $500,000 in pre-Series A round led by the family office of Kantamaneni from the US.
New Delhi, February 23, 2023: Bank of Baroda (Bank), one of India’s leading public sector banks, conducted an industry-level symposium with the theme “Digital Journey in Banking – Legal and Business Challenges” on 17th February, 2022. Against the backdrop of a rapid increase in digital transactions, the aim of the symposium was to provide a platform for dialogue and discussion amongst banking and legal experts on the spectrum of changing laws and their materiality in the current market framework.
The topics covered during the symposium included Fintech – Legal Aspects & its Impact; Revolution in Digital Lending & its Impact on Banking; Digital Documents, its Execution & e-Bank Guarantees; Automation of the Loan Process including Co-lending Arrangements – Business and Legal Challenges and Cyber Security & Preventive Measures.
The event was organised by the Corporate Legal Department at Bank of Baroda. Shri B Meher Kumar, Head – Legal & RTI hosted the symposium with Shri Lalit Tyagi, Executive Director, Bank of Baroda delivering the keynote address. The symposium witnessed the participation of Shri Debadatta Chand, Executive Director, Bank of Baroda, Shri Surendra Kumar Dixit, CVO, Bank of Baroda, leading legal and banking professionals including Mr. Subhojit Sadhu & Mr. Gaurav Gupte, Partners at Cyril Amarchand Mangaldas; Mr. Rajeev Dewal, Sr. Advisor Legal, Indian Banks’ Association (IBA); Mr. Ameya Khandge, Partner, Trilegal; Mr. Manan Jain, Director – Sales, Leegality; Mr. Nilanjan Sinha, Head – Legal, ICICI Bank; Ms. Anusha Dubey, ICICI Bank; Mr. Satish K Patnaik Chief Law Officer, Union Bank of India; Mr. Soumitra Majumdar, Partner, JSA Legal; Mr. Debajyoti Ray Chaudhuri, MD, National E-Governance Services Ltd. (NeSL); Dr. Balsing Rajput, DCP, Cyber Cell, Maharashtra Police; Advocate (Dr.) Prashant Mali, Cyber Law Consultant as well as Mr. Akhil Handa, Chief Digital Officer and Mr. Dhrubashish Bhattacharya, Head-MSME of Bank of Baroda with delegates from a few public and private sector banks in attendance.
In addition, the proceedings of the symposium were live-streamed for the benefit of all the zones, regions and participants at remote centres.
Key takeaways from the symposium:
New Delhi, February 23, 2023: Indore Municipal Corporation (“IMC” or “Corporation”), was established in the year 1956 under the Madhya Pradesh Municipal Corporation Act, 1956. Its public issue of rated, listed, taxable, secured, redeemable, and non-convertible green municipal bonds saw itself list on NSE on February 21, 2023.
According to the base issue size, the Institution/QIB category was subscribed the most with 7.52 times, followed by 6.70 times in the corporate category, 5.78 times in the retail category, 3.62 times in the HNI category. The Issue opened on February 10, 2023 and closes Tuesday, February 14, 2023.
The Green Bonds have a tenor of 3 years (STRPP A), 5 years (STRPP B), 7 years (STRPP C) and 9 years (STRPP D). Effective yield (per annum) for NCD holders in Category I (QIB), Category II (Corporate), Category III (HNI) and Category IV (Retail Individual) for tenor 3 years, 5 years and 7 years is 8.41% and for STRPP D with 9 years’ tenor is 8.42%. Interest payments are through various modes, i.e., Direct Credit, NACH, RTGS, NEFT and Registered Post/Speed Post.
The Green Bonds have been assigned a rating of ‘CARE AA: Stable’ by CARE Ratings Limited and ‘IND AA+/Stable’ by India Ratings & Research Private Limited.
On the listing event held at Kushabhau Thakre convention center at Bhopal, Shri Shivraj Singh Chouhan, Chief Minister, Madhya Pradesh said “Indore is the city which thinks outside the box and does outside the box. For e.g the listing of green bond on the exchange .Our Prime Minister has announced a program under the name “Panchamrut”. The intention to increase the non-fossil energy to 500 GW by 2030, but also at the same time to ensure that 50 per cent of the energy requirement comes from renewable energy and India is to achieve the target by 2070. Electric buses have been introducing in the city and have also installed 26 charging stations. The municipal corporation has planted atleast 2 lakh sapplings at Nehru Park, Meghdoot Garden, airport and regional parks to improve the air quality of Indore and as a result we have registered 4 lacs carbon credit and have generated a revenue of Rs 9 crore under a business model. A power plant has been installed at Jalud where they will produce electricity and bring down their electiricity bill for the people of Indore. On the occasion of Solar day which falls on May 3rd, Sanchi will become the country’s first solar city which is world-famous for stupas and Buddhist pilgrimage sites”.
Indore’s Mayor Shri Pushyamitra Bhargava said “It is Shri Shivraj’s vision to make Indore the world’s leading smart city. As a result, Indore was able to list India’s first green bond, which will enable Indore to reduce carbon emissions with the aid of a solar plant. The issue garnered Rs 721 Crore, which is just the beginning and thanks to Shri Shivrajji’s long-term thinking and dedication and Indore will continue to set a great example for India with new initiatives and will strive for prosperity”.
Shri Ashishkumar Chauhan, MD and CEO, of NSE said, “The launch of the Green Bond issue by Indore municipal corporation is a great example of cooperative federalism & depth of local governance model in India.
The rapid growth of urbanization requires urban local bodies to keep up with the huge expansion and upgrades to the existing urban infrastructure. Municipal bonds provide an alternative means of financing to urban local bodies and reduce the dependency on central and state grants. Most of the urban infra bonds may be categorized as green bonds given that proceeds are predominantly targeted towards energy, transport, water management, sewage treatment, energy saving, etc. Green Municipal bonds will also bring in new foreign investors who specialize in sustainable financing and invest in projects with environmental, social and governance considerations.
The public issue of Indore Municipal bonds got an overwhelming response with an overall subscription of 5.91 times the issue size. It reflects that there is good appetite among investors for Green bonds. Municipal bonds provide an opportunity to participate in nation-building in addition to earning returns. The public issue of green bonds by IMC would give impetus to the development of green financing and contribute towards India’s vision for transition towards a clean and green energy future.
The global green bond market is witnessing exponential growth and has crossed the milestone of 2 trillion USD in terms of cumulative green bond issuance. India has also witnessed green bond issuances of about 10.8 billion USD during 2019-2022 by the corporates, PSUs and financial institutions. The public issue of green bonds by IMC would give impetus to the development of green financing and contribute towards India’s vision for the transition towards a clean and green energy future.
NSE is committed to playing an active and participatory role while contributing towards India’s vision of a sustainable future enshrined under the “Panchamrit” vision of our honorable Prime Minister”.
Shri AK Mittal, AK Capital Services Ltd, Lead Manager to the Issue, said “Congratulations to Indore Municipal Corporation for raising India’s first public issue of green municipal bonds of INR 244 crores at highly competitive rates. The issue has been oversubscribed by roughly 6 times, depicting strong investor confidence.
Furthermore, as these bonds are rated as AA+ by India Ratings and AA by CARE ratings, they provide a secured investment with an attractive return for the investors.
After the success of this issue and noticing sustained rapid developments in the Indian municipal bond markets, we expect that more ULBs will explore debt markets to raise funds via green bonds.
We as lead managers feel proud to be associated with the issue.”
Shri Arnab Choudhury, Executive Vice President & Group Head (Debt Capital Markets), SBI Capital Markets, Lead Manager to the Issue, said “Government of India has laid special emphasis on the development of the Municipal Bond market in this budget. We are happy to note that Indore Municipal Corporation has taken the lead and issued its green municipal bond in record time with public participation. We are proud to have partnered with Indore on this momentous achievement and we are sure that this is just the beginning of the journey for Indore”.
The Lead Managers of the bonds issue were A.K. Capital Services Ltd and SBI Capital Markets Ltd.
New Delhi, 23 Feb 2023: AAFT proudly announces the achievement of a new milestone with 30,000 alumni across all its programs. The success of programs is a testament to the benchmark educational standards at AAFT and its commitment to delivering the best education to students from over 120 countries across the globe. The AAFT Education Group was founded three decades ago in Delhi NCR and has since evolved to become one of India’s finest educational institutions.
AAFT has seen significant development in the 30 years since its inception in 1993 and has expanded to include the EdTech platform AAFT Online with a focus on multi-modal courses for skill development through live & pre-recorded sessions, and AAFT University in Central India, the country& first Film, Media & Arts University in 2018 with a gamut of professional courses to cater to the needs of the contemporary and technologically advanced.
AAFT’s alumni list includes big media and arts names, national award winners, directors, writers, photographers, actors, and journalists. Some noticeable names include Pyaar Ka Punchnama director Luv Ranjan; Fukrey Series director Mrighdeep Singh Lamba; Aurangzeb and the Class of 83 directors Atul Sabharwal; Mirzapur director Gurmeet Singh. The list goes on with Femina Miss India Earth 2011 Hasleen Kaur; Indian TV actors Kinshuk Mahajan and Kanika Maheshwari; renowned directors Kaushik Ghatak and Shailender Vyas; Director of Photography Shikhar Bhatnagar, and Miss Asia Pacific 2013 Srishti Rana amongst many. The years of experience of its alumni contribute greatly to keeping AAFT as the benchmark practice and standard in the arts, media, and film studies. AAFT offers 85+ courses across 11 schools inviting students for long-term undergraduate & postgraduate degree courses and short-term certificate & diploma courses.
Mohit Marwah, Co-Founder, AAFT online said, “In today’s volatile environment, students are driven to learn at a fast pace from experts in order to advance their careers. Here, at AAFT, we equip them with instructors who are specialists in their respective fields and will provide them all opportunities to work and learn with top brands.”
Akshay Marwah Co-Founder, AAFT University said, “It is a privilege to watch our 30,000-student family grow every day and we promise to enhance the capabilities of our career services division in order to help them secure their dream jobs and be masters at it.”
All-in-all, the glorious success of the AAFT alumni is a great example for current as well as future students. The university will provide these students with all the tools and guidance to walk in their footsteps for a successful career. Through AAFT’s state-of-the-art facilities, students are promised career growth through practical hands-on experience, expert faculty, a diverse curriculum, career placement assistance, and a wonderful opportunity to form strong connections in the media and entertainment industry.
One97 Communications Limited (OCL) that owns the brand Paytm, celebrated Mahashivratri, one of the most important festivals in India, by deploying special QR codes at 9 Jyotirlingas and nearby temple areas in the country. The pioneer of QR and mobile payments in India had designed the Mahashivratri special QR code with Lord Shiva’s photo.
Mahashivratri was celebrated on Saturday, 18th February 2023 across the country. There are 12 Jyotirlingas in the country of which Paytm had deployed special QR codes at Somnath in Gujarat, Mahakaleshwar & Omkareshwar in Madhya Pradesh, Baidyanath in Jharkhand, Bhimashankar in Maharashtra, Rameshwaram in Tamil Nadu, Nageshwar in Gujarat, Kashi Vishwanath in Varanasi, and Ghrishneshwar in Aurangabad.
The company had also deployed Mahashivratri special QR code in Haridwar and Rishikesh in Uttarakhand, and Isha Foundation in Coimbatore. With this, devotees visiting the holy sites were able to make payments by scanning Paytm QR codes at shops and eateries in and around.
Paytm QR code enables small and medium shopkeepers to accept digital payments at zero upfront cost, and at zero MDR. The company is leader in offline payments with over 31 million merchant partners accepting payments via Paytm. It also offers consumers the flexibility of payments with Paytm Wallet, Paytm UPI LITE, Paytm UPI, Paytm Postpaid, debit and credit cards and netbanking.