All posts by Neel Achary

2nd March 2023, Mumbai: L&T Financial Services (LTFS), one of the leading Non-Banking Financial Companies, has added 29 lakh customers in the Micro Loans business between the period of April to January in the financial year 2023 recording a growth of 85 percent year-on-year.

On an average, the Company has added a customer base of around 3 lakh every month in the period between April 2022 to January 2023. The Company has disbursed Micro Loans of around Rs. 13,900 crore between April 2022 to January 2023 recording a growth of 91 percent year-on-year.

Out of the 29 lakh customers added during April 2022 to January 2023, over 18 lakh customers added are first cycle customers i.e., those who have taken loan with LTFS for the first-time.

While onboarding customers, LTFS follows a robust process with multi-layered structure which includes instant internal and bureau checks, physical appraisal process checks and risk control unit checks before taking the decision to sanction the loan to customers.

Mr. Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Ltd. said, “We are amongst the leading financiers in Micro Loans today and continue to expand in the unserved and under-served regions of our nation. We are committed to empowering micro-entrepreneurial women and enabling sustainable livelihood at the grassroot level through our innovative and digital lending solutions. Our customers are primarily engaged in responsible end-use like dairy, grocery shops and similar allied activities for earning their livelihood. We have done well in this business, and going forward we expect to sustain our growth momentum by further launching new products, in line with the Lakshya 2026 strategy.”

LTFS launched its Micro Loans operations in July 2008 and since then, has been actively involved in enabling a sustainable livelihood for women entrepreneurs. The loans are sanctioned to women in the age group of 20 to 60 years with a ticket size ranging between Rs. 35,000 to Rs. 1,10,000 and with flexible re-payment tenure from 24 to 36 months for customer’s convenience.

Cooking can be a lot more fun if our main task of micing, dicing and slicing becomes easier. KAI India has launched Hocho Premium Knives that are the real kitchen tools and are an essential for cooking all meals. It is simply perfect for all your daily kitchen use of cutting, chopping, dicing, mincing, peeling of vegetables and other kitchen tasks.

KAI Hocho knife is ideal for all types of food preparations as they can be used for cutting, chopping, dicing, slicing of small and big vegetables. The flat surface of the Japanese design also helps in chopping herbs and leaves in the perfect size. They are sharp with fine precision and exhibit the finesse in their shape and design giving a study grip while in use. The Hocho knives can be termed as all-rounder as they do the job quickly and safely. They cut vegetables more finely and can even be used for making garnishing ribbons. They are a must have in your kitchen to make you fall in love with cooking.

Mr. Rajesh U. Pandya, Managing Director, KAI India says, “KAI knives have pointed and sharp tip that allows for easy and smooth piercing through vegetables and fruits. KAI India has been known for designing knives that are ergonomic and are user-friendly. The Premium Hocho range have high-quality handles, textured surface and designing is such that they will not slip away from your hand while in use. The Hocho knives have a straight edge with a narrow sheep’s foot blade. These knives have evolved from the traditional Japanese vegetable knife which has a rectangular blade.”

The 114 years plus old Japan-based KAI Group has made a foray into the Indian market with the establishment of its manufacturing facility spanned over 30,000 sq.mtrs area in Neemrana, Rajasthan. KAI brings over 800 years old Japanese legacy of forging blades, directly to Indian household with its kitchen-ware range. KAI also offers high precision beauty and personal care products to the Indian consumers adding value to their daily life. KAI India as an organization is determined to provide products prepared with detailed R&D and superior Japanese technology. With its clear vision and mission, KAI is marching forward towards becoming a household name in India.

Founded in Seki in 1908, KAI products have cult status in Japan. The brand is known for its high-quality beauty care and grooming products integrating practical aesthetics with refined craftsmanship providing well-designed, innovative houseware and beauty care products, which are used widely in day to day lives.

KAI India Hocho Premium Knives are available at https://kaiindiaonline.com/ and also across all the leading e-commerce platforms @ INR 499 only.

Registration of properties in Mumbai municipal region stood at 9,268 units in February 2023, up 2 per cent, contributing over Rs. 1,084 crore to the State revenues, according to a Knight Frank India report. This represents a slight increase as compared to the previous month’s figure of 9,001.

However, when compared to year-on-year data, there was a significant drop of 11 percent in February 2023, with only 9,268 property registrations compared to 10,379 in the same month the previous year. In February 2021, there were 10,172 registrations. Despite the decline in YoY figures, the daily average property registrations in February 2023 was 331 units, which still makes it the third best February month in the last ten years. after February 2022, according to a Knight Frank India report

Here are a few reactions from the realty experts:

Mr. Ram Naik, Director, The Guardians Real Estate Advisory

“February 2023 proved to be a promising month for Mumbai’s real estate sector, with property sales registrations totaling 9,268 units and contributing over Rs 1,084 crore to state revenues. Although this represented a slight decrease in year-on-year figures, the daily average registration rate still proved to be the third-highest in the past decade, indicating that the market is still buoyant and in demand. Such positive developments are a testament to the resilience and dynamism of Mumbai’s real estate sector.”

Mr. Pritam Chivukula, Co-founder & Director, Tridhaatu Realty and Treasurer, CREDAI MCHI

“Mumbai has witnessed moderate growth in property registrations in the month of February despite the hike in interest rates and rise in the property prices. This signifies that the low interest rates have been the biggest factor in the resurgence for real estate demand since the pandemic. Therefore the sharp acceleration of interest rates in a short span of time have resulted in a short-term effect on the sentiment of homebuyers especially in the affordable sector. We request the State Government to step-in and lighten the homebuyer’s load by reducing the stamp duty so that the demand sustains going forward.”

Mr. Manoj Patwal, Founder & MD, BetterServ Ventures Pvt. Ltd.

“Although there has been a marginal decline in the property registrations in February as compared to last year, Mumbai is continuously witnessing a robust demand and an impressive ascent in property registrations for the past few months. Given the current scenario of steep rise in property prices owing to several factors such as the increase in interest rates, stamp duty and raw materials prices; we have already started witnessing short-term repercussions on the overall housing demand. Going forward, if the Government takes the appropriate measures, we believe that the sales momentum can continue for the coming quarters, and reputed developers with a good track record will continue to dominate the market.”

Bangalore,2nd March 2023Toyota Kirloskar Motor (TKM) continues to post sales growth as the company today announced that its wholesales stood at 15,338 units for the month of February 2023. The significant gain stood 175% higher over the month of February of last year, where the company had sold 8745 units.

Month of February’ 2023 also saw a 120% growth over the sale achieved in January 2023 where TKM sold 12,835 units. In addition, the company also posted a strong growth of 175% for the months of January-February 2023 as against the corresponding period last year. TKM sold 28,173 units in January-February 2023 as compared to 16,073 units in the January-February 2022.

Speaking on this strong performance Mr. Atul Sood, Vice President, Sales and Strategic Marketing said, “We are witnessing a continued interest from customers across our product portfolio, resulting in a very healthy growth in the month of February 2023. Leading this growth, are the Urban Cruiser Hyryder and All New Innova Hycross, as we strive to work with our partners to meet the demand. The recent announcement of opening of bookings for the Toyota Hilux, is also continuing to generate excitement, resulting in good orders from across the country. We are confident that the Hilux will entice the customer to Live a Fuller Life, with its varied lifestyle utility offerings, be it personal or business. Other products like the Glanza, the Fortuner and the Legender also continue to thrill the market.

Furthermore, we are focusing on enhancing our reach in the country to move closer to our customers through the introduction of two new dealerships in the month of February at Surat (Gujarat) and Bhiwandi (Maharashtra). We are confident that they will provide easy access to Toyota products and services, to both existing and prospective customers in the regions.

Looking ahead, we expect to close this quarter on a high note, in comparison to last year. As a customer centric company in constant pursuit to redefine customer experience, we are continually working to meet the market demand effectively.”

Sales Performance:

Overview of TKM  

Overview of TKM 1st Plant: 

Overview of TKM 2nd Plant: 

Mumbai,2nd March 2023Women in comedy are still told that they are not funny, said RJ Karishma, Radio Jockey, Social Media Influencer, and YouTuber. Speaking at ABP Network’s second edition of the ‘Ideas of India’ summit on the topic, ‘The Youtube Boom – The Female Gaze’, she said “Comedy is subjective. I think originality of content that reflects a bit of you is what strikes the best with the audience.

In 2022, the influencer industry was estimated at Rs 12 billion. The industry has shown immense growth in the past few years, especially after the pandemic. On being asked if the notion of influencers earning ‘easy money’ is true, Meethika Dwivedi, a social media influencer and comedy content creator said, “People get jobs and start earning after years of studying. Comparing to that we can say influencers have it relatively easier.” At the age of 20, Meethika has bought her own house and car through content creation on social media.

The panel also discussed the existing bias between influencers who create content in Hindi and English. “I believe there is no language barrier anymore in the minds of the audience,” said Saloni Gaur, Comedian & Content Creator. “If there is any, I think preference towards Hindi content is increasing.”

The summit promises an invigorating line-up of speakers with prominent figures from the world of business, politics, artists from the Hindi Film Industry, authors and other eminent sectors. The two- day conference confluences diverse ideas from various industries to promote India in becoming a burgeoning leader in the world.

Bengaluru,2nd March 2023: Fasal, India’s earliest sustainable horticulture farm network company and the one-stop-shop for horticulturalists, today announced expansion into the farming output business with the launch of ‘Fasal Fresh’. Fasal Fresh removes intermediaries in procurement to ensure fairer prices for farmers while bringing end-consumers export-quality produce that has been grown using Fasal’s proprietary farm-level crop intelligence systems.

Through its patented IoT system called Kranti, Fasal has been making horticulture farming guesswork-free with advanced irrigation alerts, farm-level forecasts, and pest/disease forewarnings. Today, Fasal works with Indian farmers over 60,000 acres across 20+ crops, who are leveraging this technology. Fasal Fresh, which has been in the works since last year with a focus on building the horticulture farming network, will directly bring the produce grown via precision farming to the end consumers via retailers/e-tailers, wholesalers and exporters. Currently, Fasal Fresh is operational in Delhi, Bengaluru and Hyderabad with its Mumbai operations planned for March this year.

Shailendra Tiwari, Founder, Fasal, said, “Procurement of fruits across the country remains fragmented and hindered by several issues in the value chain like lack of any visibility of supply, quality inconsistency, and wastage of produce during transit, among others. But with our progressive horticulture approach through differentiated tech deployed on large acreages combined with the Fasal Fresh network, we are able to solve a lot of these supply chain issues.

We can completely revamp the entire value chain by providing a consistent supply of high-quality produce to buyers and significantly better compensation to the farmers. The network is built to bring a higher level of predictability and traceability to the horticulture supply chain via tech at a scale which was not possible before.“

To drive the business vertical, a veteran horticulture supply chain expert, Manoj Kumar, has joined as Director, Fasal Fresh. “Through Fasal Fresh, we are excited to directly connect farmers growing high-quality produce using Fasal’s IoT systems and advisories with exporters, modern retailers,

and end consumers. The aim is to have assured availability of precisely grown, high quality and sustainable fruits with competitive pricing for the end-consumers while ensuring transparency in deals and timely payments for the farmers – all using Fasal’s end-to-end platform,” added Manoj Kumar, Director, Fasal Fresh.

Our predictability in supply allows consistent availability of high-quality sorted, graded, and packed produce enabling buyers to plan well in advance and minimize transit loss. Fasal Fresh aims to be a system that dramatically simplifies the lives of farmers, sellers, retailers as well as end-consumers in gaining access to safer and healthier fruits as well as vegetables at fair prices. Right from making conscious decisions to use only required levels of pesticides to eco-friendly packaging, Fasal Fresh comes with the promise of access to safer, precise and sustainably grown fruits and vegetables.

2nd March 2023 Equity Small Finance Bank Limited, one of the leading SFBs, has announced the revised interest rates for Fixed Deposits as well as Recurring Deposits in Domestic and NRE/ NRO Interest Rates Accounts. The hike in interest rates will be effective from 01st March, 2023.

The hike will allow FD customers to earn 8.20% interest on investing less than INR 2 crore for a tenure of 888 days. The bank is also increasing interest rates on investments for tenures ranging from 12 months to 24 months. This is applicable to both domestic accounts and NRE/ NRO accounts. Furthermore, domestic senior citizens will receive 0.50% extra on the FD and RD rates. The interest payouts will continue to be quarterly across all account types.

Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “We are happy to announce that customers of Equitas Small Finance Bank will earn better interest on Fixed Deposit and Recurring Deposit. This meets the key agenda of the bank to encourage the customers’ habit of saving and maximize their benefits through a hike in interest rates and help people’s money grow. As a matter of fact, locking money for a determined period through lump-sum Or recurring deposits also ensures meeting certain goals in life. Besides, to boost the saving drive amongst senior citizens in India, Equitas offers an additional 0.5% on their Fixed Deposit and Recurring Deposit which enhances capital creation and suits their requirement of investment at the same time. We look forward to our customers joining the transformational journey of our Beyond Banking philosophy for achieving better growth of the society together.”

Fixed Deposit Rate for Domestic, NRE / NRO (for INR) with effect from 1^st March 2023

Recurring Deposit for Domestic, NRE / NRO (in INR) Rate for different tenure with effect from:

1^st March 2023

Mumbai,2nd March 2023 Fashion Platform for Women of today, STUMBL has joined hands with fashion creator Masoom Minawala. Masoom, who is a Forbes 30 under 30 and one of the most trusted fashion creators in India has invested in STUMBL and will be coming onboard as a strategic advisor.

With this one of its kind partnership, STUMBL aims to bring top fashion creators on its platform to curate and recommend fashion that gives young women the freedom and confidence to discover their unique style. The brand aspires to build an open and honest community where there is a strong sense of belonging, a place where one can express their authentic self without any judgement, and be able to meet their tribe of unique people, creators and brands. Masoom as a strategic advisor will advise the team at STUMBL and help the company acquire and retain top fashion creators.

Here’s the link to Masoom announcing her partnership with STUMBL :

Launched in Dec 2022 by three experienced and highly successful senior executives, Maruthy Ramgandhi, Ayyappan Lakshmanan and Abhishekk Handa, the startup has been gaining good traction. The brand also raised $1.6 million from Saama Capital, Whiteboard Capital and notable angel investors. Since its launch, STUMBL has served more than 10,000 young women and 20% of them have been repeat customers ever since.

Hyper-personalisation of supply and shopping format for young women, strong creator community contributing to real-time style curations, and content marketing are key differentiating factors that STUMBL wants to focus more on. For new-age fashion brands which are caught in the highly competitive, discounting game on large marketplaces, and finding it difficult to reach their target group, STUMBL provides the right platform to target young women in a style-centric fashion.

Maruthy Ramgandhi,Co-founder & CEO, STUMBL, says “Fashion choices among women of today are much more unique and aspirational. It is dynamic and a lot driven by pop culture and OTT trends. Baggy clothes, K-fashion, Corsets, Bodysuits, Bralettes, Coords are our top selling styles right now. We work with creators to drop new styles every alternate day and keep our eyes peeled for new trends almost on a daily basis. Our vision is to be the number one fashion platform for women of today. A platform that will give them the fastest and most reliable access to latest fashion trends. ” He further adds, “We are building this new, highly engaged shopping experience with social interaction at its core, providing our users with shoppable moodboards. Think of Instagram or Pinterest with shop-as-you-scroll functionality that marries discovery and commerce.”

Commenting on her association with STUMBL, Masoom Minawala, Fashion creator and Investor, says, “I am thrilled to be a part of STUMBL’s journey both as an investor and strategic advisor. Their real-time supply chain which brings the latest trends to customers at a brisk pace, and creator-focused shopping approach have the power to not only revolutionise the traditional fashion landscape, but to also provide consumers with an unparalleled personalised shopping experience. Looking forward to witnessing STUMBL grow as the number one platform for Indian women and me being a part of this exciting evolution.”

According to industry reports, fashion as a category is currently 12% of e-commerce sales in India. By 2027, the category is projected to grow to 30% of e-commerce sales. Almost one-third of fashion commerce in India will happen online, majorly driven by GenZ and Young Millenials. STUMBL is well positioned to capture this opportunity as they are building a one-of-the-kind fashion platform targeted at the right audience. Masoom’s addition to the team will further strengthen the brand.

Bangkok, Thailand –2nd March 2023: Birla Carbon, one of the leading manufacturers and suppliers of high-quality carbon black solutions, will participate in the Rubber-Elastomer Technology Association (RETA) International Conference 2023. The event will be held on March 2 – 3, 2023, at Jamjuree Ballroom, M floor, Pathumwan Princess Hotel, Bangkok, Thailand. Birla Carbon will exhibit at Hall 01, Booth 01 – 32.

Expressing his thoughts on the participation, John Davidson, Chief Sales & Marketing Officer, Birla Carbon, said, “The RETA International Conference 2023 is an opportunity for us to collaborate with customers on providing sustainable carbon-based solutions, as well as venture into new product developments for the EV range of vehicles. With the increasing focus on sustainability around the globe, the team at Birla Carbon aims to bring sustainable and mobility-based product solutions to its customers.” He further added how, “With our commitment to offer these circular products, we aim to assist our partners and customers to help achieve their sustainability goals through our technical expertise.”

Birla Carbon will present its complete portfolio of high-performance carbon blacks for customers’ applications along with a range of sustainable mobility solutions, including Continua™ SCM and other leading products for the rubber industry. Birla Carbon is dedicated to providing a range of solutions focusing on efficiency and sustainability. More details will be availabe at the technical conference presentation on ‘Bringing Circularity at Scale Through Sustainable Carbonaceous Materials’.

Backed by a robust supply chain, large-scale availability, and an eye for detail, these high-quality sustainable alternatives to traditional carbon blacks are the perfect solution to help customers come closer to achieving their sustainability goals. With a focus on performance driven products, Birla Carbon will also present the following solutions at RETA 2023:

•  BC2123, BC1029 and BC1001
•  BC2013
•  BC1083

The first RETA International Conference will bring in participation from suppliers across the rubber and elastomer industries. To learn more about Continua™ SCM and other carbon black solutions for the rubber industry, visit Birla Carbon at Hall 01, Booth 01 – 32.

Guwahati,2nd March 2023 Nexgen Energy Ltd., a prominent green fuel energy company that specializes in installing biogas plants, and Assam Gas Limited, a key player in the Indian energy sector, have announced a collaborative effort to fortify renewable energy sources in India. The partnership was established following an extensive meeting between Dr. Piyush Dwivedi, Chairman of Nexgen Energy, and Gokul Chandra Swargiyari, Managing Director of Assam Gas Limited, where they discussed various measures to boost renewable energy in India, with Nexgen Energy expected to play a pivotal role.

Nexgen Energy has been rapidly working in the field of energy and the environment in recent months, attracting media attention with their investments in Uttar Pradesh, which are expected to expedite biogas production in India. Their expertise in installing biogas plants is considered essential in bolstering renewable energy in the country. During the meeting, Dr. Dwivedi and MD Swargiyari also talked about purchasing LPG and CNG gas with LN G and CN G gas, and announced an agreement to work on alternative energy.

MD Swargiyari is a well-known investor in the energy sector, utilizing cutting-edge technology to develop innovative solutions. The collaboration between Assam Gas Limited and Nexgen Energy is expected to have a significant impact on the energy sector in India.

“This collaboration between Nexgen Energy and Assam Gas Limited is a significant step towards enhancing renewable energy in India and making the country more self-sufficient in the future,” said Dr. Dwivedi. “We are thrilled to work with MD Swargiyari and his team at Assam Gas Limited and are looking forward to a fruitful partnership.”

The partnership between these two energy leaders in India is a positive development for the country’s energy sector. With both companies bringing their expertise and innovative solutions to the table, this collaboration is expected to drive significant progress towards strengthening renewable energy sources in India.

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