Hyderabad, 19th July 2023 Sai Silks Kalamandir Ltd. (SSKL), which has received SEBI approval for an IPO in November 2022, has decided to allocate 4.76% of its shares to their Employee Trust. The new Employee Trust is a dedicated initiative aimed at enhancing the well-being and development of its valued workforce.

SSKL has been very proactive when it comes to staff welfare, and through the Kalamandir Foundation, it has contributed to the well-being of their staff and also helped them with the education and other needs of their children. The formation of this trust demonstrates SSKL’s commitment to nurturing a supportive and empowering environment that values and invests in its employees.

Speaking on the development, Durga Prasad Chalavadi, Managing Director, SSKL said, “We embarked on our journey with just one store in 2005, and today, we stand proud with 54 stores and a remarkable team of 4,500 dedicated employees. We owe our tremendous success to the unwavering efforts and commitment of our exceptional workforce. They have been the driving force behind our achievements, and we deeply value their contributions.”

Chalavadi further added, “In appreciation of our employees and with a genuine desire to foster a workplace environment where their interests are cherished, we have taken this decision. We are delighted to announce that we will be allocating a significant portion, 4.76% of the company’s shares, to the newly established Employees Trust.”

SSKL, through its Kalamandir Foundation, has played a crucial role in engaging with stakeholders such as employees and other deserving organizations to promote inclusive growth that’s sustainable and employee-friendly.

SSKL has a total store count of over 54 stores across South India, namely Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka. The company plans to open 25 more stores and two warehouses in Hyderabad and Chennai in the near future.

Mumbai, 19th July 2023: The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal launched the curtain raiser of Global Maritime India Summit (GIMS), 2023 here today. The event is aimed at unlocking the potential for new investment opportunities along with collaborations for knowledge and technology to enhance cooperation in trade and promote Ease of Doing Business (EODB). The event was attended by Union Minister of State for Ports, Shipping & Waterways and Tourism, Shripad Naik among others.

Addressing the Curtain Raiser for the upcoming Global Maritime India Summit 2023, Sonowal emphasized the vital role of the maritime sector in India’s economic progression and the potential it holds for the Asia-Pacific region. “India can lead from the front,” said Sonowal. He added that India’s maritime sector is poised for growth, owing to proactive government policies around, ports, shipping, and inland waterways.

Union Minister Sarbananda Sonowal said, “The huge potential of India’s marine sector can play a significant and pivotal role in elevating the economic cycle towards an Atmanirbhar Bharat by 2047 – a vision of our dynamic Prime Minister Shri Narendra Modi ji. As key driver of India’s maritime sector, our ministry has been organising the Global Maritime India Summit, to create value from the vast potential of India’s rich maritime sector. With an identified investment opportunities of more than ₹10 lakh crores in the maritime sector of the country, we are standing at a threshold of a major economic upswing which can generate employment opportunities for more than 15 lakhs youth of India. This summit has been designed to explore and examine riches of India’s Blue Economy. We hope that the best minds of maritime sector will hedge their goodwill, intent, intelligence and skills to produce a roadmap for a sustainable development of maritime sector as well as our country.”

Sonowal further added, “We invite all the maritime stakeholders in India and globally to be part of these investment opportunities. Under the visionary leadership of Prime Minister Shri Narendra Modi ji, India is spearheading the advancement of regional trade within BIMSTEC region, taking a prominent role in the development of various regional projects. India is actively driving the establishment of 5,000 km of multi-country waterways, a significant initiative that will effectively facilitate trade and transportation across the region.”

The curtain raiser event is aimed at creating a global forum of thought leaders as well as industry captains from maritime sector to harness the immense potential of Blue Economy and draw a roadmap to unlock value through creation of investment opportunities in the maritime sector of India. The forum will provide a platform for start-ups, researchers, incubators and innovators to showcase their technology & expertise. The focus areas of GMIS, 2023 are Ports of the Future; Decarbonization; Coastal Shipping & Inland Waterways Transportation; Shipbuilding, repair & recycling; Finance, Insurance & arbitration; Innovation & technology; Maritime Safety & Security and Maritime Tourism.

The Union Minister said, “India stands firmly on its commitment to developing environmentally conscious shipping solutions. Under the visionary leadership of Prime Minister Shri Narendra Modi ji, India proudly occupies the second rank in recycling worldwide, with a clear objective to ascend to the top position within the forthcoming two decades. To propel this vision, we plan to inaugurate carbon-neutral alternatives and boost the use of battery-powered vehicles and apparatus in our major ports. With a vast coastline and over 200 ports, India holds a strategic position in global trade. The country has made impressive strides under transformative initiatives like Sagarmala and the Prime Minister’s Gati Shakti National Master Plan, which have modernised port infrastructure, enhanced connectivity, and facilitated port-led industrialisation.”

Speaking on occasion, Minister of State for Ports, Shipping and Waterways, Shripad Naik, said, “The Global Maritime India Summit 2023 represents a crucial milestone in our efforts to position India as a global maritime hub. Through collaborative discussions and strategic partnerships, we aim to propel our maritime sector towards sustainable growth, bolstered by innovation and cutting-edge technology.”

Rajiv Jalota, Chairman, Indian Ports Association & Mumbai Port Authority; Rajesh Kumar Sinha, Additional Secretary, Ministry of Ports, Shipping and Waterways; Bhushan Kumar, Joint Secretary (SM), Ministry of Ports, Shipping and Waterways; Rajesh Tandon, CEO, Foreign Owners Representative, Ship Managers Association; Anil Devli, CEO, Indian National Shipowners Association; Dhruv Kotak, Chairman, Ports & Shipping, FICCI Committee on Transport Infrastructure & MD, JM Taxi Group along with Shailesh Pathak, Secretary General, FICCI also spoke on the occasion.

The curtain raiser concluded with the unveiling of the official GMIS 2023 brochure and the launch of the event’s website and mobile app to provide a comprehensive overview of the summit’s agenda and thematic sessions and will serve as essential resources for participants.

Mumbai, India – 19th July 2023– Media agency Havas Media Network India, in collaboration with ETBrandEquity.com, an online advertising and marketing news publisher, have launched a comprehensive report titled ‘Role of Tech in Marketing To Drive Growth’. The groundbreaking report delved into the profound influence of emerging technologies on consumer behaviour and marketing practices in the Indian market. The report, divided into two distinct sections, provides a holistic view of the current landscape and future potential of emerging technologies in the field of marketing.

The first section of the report highlights the results of a comprehensive consumer study consisting of in-depth focus group discussions, shedding light on the perception, usage, and key benefits of utilising emerging technologies. Consumers’ perspectives on a wide range of innovative technologies such as Artificial Intelligence (AI) – generative AI, chatbots, marketing automation, Augmented Reality/Virtual Reality (AR/VR), Metaverse, Web3, Open Network for Digital Commerce (ONDC), and Voice search have been thoroughly analyzed.

The second section of the report focuses on the insights and outlook of marketing leaders, exploring the scope, potential implications, and challenges presented by these emerging technologies. It offers a glimpse into the ever-evolving landscape of marketing practices and provides valuable guidance for industry professionals.

Amit Kumar Gupta, Business Head of The Economic Times B2B Verticals, expressed his gratitude to the stakeholders who contributed to the report’s success. He stated: “We would like to extend our heartfelt thanks to all the consumers and marketing professionals who participated in the survey and shared their valuable insights. Their contributions have been instrumental in shaping this report and its findings.”

Commenting on the launch of the report, Mohit Joshi, CEO of Havas Media Network India, said: “At Havas, we strongly believe in the significance of context. We understand that the media platforms brands choose to invest in are just as crucial as the messaging they convey in their advertising campaigns. Technology and marketing go hand in hand, but the ultimate goal is to activate meaningful connections that enable brands to drive desired actions.”

He further added, “In this report, we dive deep into these topics to equip readers with the knowledge and understanding needed to navigate the ever-changing landscape of meaningful marketing. We provide real-world examples, best practices, and practical recommendations to assist organizations in harnessing the power of emerging technologies and fostering marketing growth.”

The joint effort between Havas Media Network India and ETBrandEquity.com highlights their commitment to delivering innovative research and thought leadership in the marketing and advertising industry. This report aims to equip marketers with the knowledge they need to adapt to the evolving technological landscape and harness its potential to drive growth.

Hyderabad, July 19, 2023…..Nizam 9th of Asaf Jahs Raunaq Yar Khan and Filmstar Suman Talwar attend Bonalu celebrations organised inside the Nizam Institute of Medical Sciences ( NIMS hospital)premises on Tuesday.

Ms Padma, the organiser, who has been organizing this Bonalu pooja at least for the last decade says that they have been honoured by the visit of 9th Nizam Raunaq Yar Khan of the Asaf Jahi Nizams(who donated this hospital to the public (at Rs. 1 for Month as a formality). The Present head of Asaf Jahi family personally attending Pooja and blessing us in taking care of our patients is an honour for us, she said. The Nawab came along with Sri. Suman our large-hearted film star who is a regular at our Pooja.

It is not out of the place to mention here that Nizam’s Institute of Medical Sciences (NIMS) is named after its founder – the 7th Nizam of Hyderabad, thus it becomes special seeing his family members visiting the festival a secular message too, to remind of the past brotherhood of communities.

In 1951, The Nizam not only started the construction of Nizam Orthopedic Hospital (now known as Nizam’s Institute of Medical Sciences (NIMS)) and gave it to the government on a 99-year lease for a monthly rent of just Rs.1 which is probably due to some legality which constrained him from offering it as a gift to the public.

NIMS was constituted with the object of creating a centre of excellence in Research, Training and Patient care in Super Specialities. Institute has achieved its objectives and achieved distinction in all spheres during the past five years.

Around the same time, he had also donated 14,000 acres (5,700 ha) of land from his personal estate to Vinobha Bhave’s Bhoodan movement for redistribution among landless farmers.

Hyderabad, 19th July 2023: PNB Housing Finance Limited, through its CSR arm Pehel Foundation, joined hands with Pushpagiri Vitreo Retina Institute (PVRI) to announce the launch of Pehel Eye Mitra – a free transport service to improve accessibility for patients requiring eye care facilities. The project was inaugurated by Mr. Girish Kousgi, MD & CEO of PNB Housing Finance and Mr. R Govind Hari, Chairman of PVRI, in Secunderabad.

The Pehel Eye Mitra project aims to ensure access to quality eye care services for over 8,000 families across 1,000 villages in Telangana state annually, helping underserved communities overcome the barriers of transportation. This initiative reaffirms PNB Housing Finance’s commitment to provide better access to medical facilities and advanced healthcare infrastructure, thereby positively impacting the society.

Mr. Girish Kousgi, MD & CEO, PNB Housing Finance, commented on the initiative, “At PNB Housing Finance, we firmly believe that businesses should invest their resources towards the upliftment and welfare of the society. Our partnership with PVRI for the Pehel Eye Mitra project further strengthens our efforts to provide accessible healthcare solutions to patients who truly need them. We are committed to implementing sustainable solutions that promote better health for all, thereby improving lives and driving growth.”

Mr. R. Govind Hari, Chairman, PVRI said, “Our hospital’s mission is to provide comprehensive eye care to patients, irrespective of their financial circumstances. We are delighted to partner with PNB Housing Finance, as it represents our shared commitment to improve the lives of individuals in need, and expand the reach of quality healthcare services.”

According to the National Blindness & Visual Impairment Survey 2015-19, lack of adequate medical care, transport services and limited funds result in poor health standards among underprivileged sections of the society. As part of the Pehel Eye Mitra project, a 42-seater bus will provide free transportation services to patients located within 100-150 kilometres of the PVRI, Secunderabad Base Hospital.

Coimbatore, India. —19th July 2023— RFPIO, the leader in strategic response management software, today announced it is rebranding the company to Responsive given the significant expansion in the breadth of response use cases it supports beyond RFPs. Responsive now has nearly 2,000 customers including 20% of the Fortune 100, and more than 300,000 users. These companies are using Responsive’s industry-leading SaaS platform to handle a broad set of response use cases ranging from RFPs, RFIs and RFQs to security questionnaires, due diligence questionnaires, ad hoc requests for information and more.

Founders Ganesh Shankar, AJ Sunder and Sankar Lagudu established the company in 2015 after collaborating on RFPs at their previous company. While serving in their respective roles, they experienced firsthand the myriad challenges organizations face responding to RFPs with traditional collaboration and content management tools. Information was strewn in silos across the organization, inconsistent and often out of date. They also found it hard to collaborate with other subject matter experts on answers to questions, and difficult to project manage RFP responses in general. Given their experiences, the founders knew there had to be a better way to respond to RFPs – leading them to focus on building a platform with the capabilities necessary to enable organizations to put their best foot forward with RFP responses.

Fast forward to today, and Responsive highlights include the following:

● Largest, fastest growing, most profitable company in category: Responsive has nearly 500 employees globally and is the fastest growing company in its space, while also operating profitably. Furthermore, the team has carefully managed growth and is currently funding its operations with revenue generated from customers rather than additional rounds of funding.

● Significant value delivery: Responsive is driving significant business value for its customers by helping them win more deals and mitigate business risks associated with sales contracts, while also providing better employee experiences for response teams. To date, Responsive customers have used the company’s platform to engage in more than $200B in revenue opportunities to help fuel additional growth.

● Breakout leader in “Strategic Response Management” (SRM): Responsive has emerged as the breakout category leader in the new SRM market, supporting a broad set of response use cases that goes way beyond just RFPs. Aragon Research recently published a seminal paper on SRM titled “Getting to Faster Business Results with Strategic Response Management,” which featured RFPIO/Responsive as pioneering the category. Aragon estimates the SRM market size at $3.34B in 2022 growing to $22.74B by 2028 with a CAGR of 35 percent.

● Platform-approach and innovation focus create compelling value proposition for customers across geographies, business segments, and industries: Customers regularly select Responsive based on its powerful platform that delivers extensive collaboration, content management, project management, requirements analysis, proposal management, profile management, and analytics and reporting capabilities, as well as its best user experience, broadest set of customer success programs and most extensive set of integrations. Responsive’s close partnership with its customers has played a vital role in enabling the company to continue delivering industry firsts. For example, Responsive was the first in its category to leverage AI for pre-populating new information requests with “best of” answers from previous responses, optimize user experiences in real-time, and utilize generative AI to help responders tune answers in a variety of ways. New innovations in Responsive’s recent GPT, Spring 2023 Release, and Summer 2023 Release announcements demonstrate how the company continues to deliver the market’s most powerful platform.

● Highly experienced growth team: Responsive has recently expanded its executive team with veterans of hypergrowth SaaS enterprises, hiring Michael Londgren as chief marketing officer and Jeff Santelices as chief revenue officer. Michael is a technology marketing leader with deep executive experience scaling hypergrowth businesses including DocuSign, Google G Suite (now Workspace), and Seismic. And Jeff brings extensive leadership experience driving growth at companies including Apttus (now Conga), Mindtickle and Corio/IBM.

● Repeated acknowledgement for industry leadership: Responsive is regularly recognized as a leader within the industry and has generated top rankings in multiple G2 reports (Top RFP Software, No. 1 Momentum Leader in RFP Software, 2023 Best Software List for Office Products, and Best Estimated ROI for RFP), was included in the 2022 Deloitte Technology Fast 500, 2022 Inc. Power Partner Awards and 2022 Inc. 5000 lists, was celebrated for its company culture and diversity in back to back annual awards from Comparably, and was highlighted by The Wall Street Journal Pro – Venture Capital for its early embrace of generative AI in an enterprise SaaS solution.

“We always knew we were building a solution that was capable of doing far more than just fixing broken RFP processes,” said Ganesh Shankar, CEO, Responsive. “Today, our solution has become the industry-leading strategic response management platform that enables response teams to address a wide variety of business use cases, helping them increase revenues, mitigate risks, and provide better employee experiences. Given this significant expansion of our overall value proposition as well as the company’s overall momentum, now’s the time to rebrand the company to Responsive. We are excited about the company’s journey thus far, and even more excited about the path ahead.”

What Customers Are Saying

Microsoft: “Responsive’s impact on our pursuits has been incredible: It’s simplified and streamlined finding relevant content and improving it; it’s centralized and minimized burdensome administrative tasks. In short, the time it saves pursuit teams enables those teams to focus more on what will win,” said Mitchell Galloway-Edgar, Senior Business Program Manager at Microsoft.

Nationwide: “How do we manage our information, keep it up to date and make it available for people to use? Every time this information challenge comes up with other teams I tell them about Responsive,” said Linda Campbell, Proposal Director for Nationwide Retirement Plans. “So far, two other teams have started using it, with another joining this year. In the end, it’s all about the ease of using Responsive for information management.”

Optum: “Ultimately, people want to experience something that will make their job easier. That’s what we all want to achieve with Response,” said Joel Van Pelt, Director of Innovation and Strategy, Growth Proposal Services at health services innovation company Optum.

Teradata: “The ease of use cannot be understated. A senior manager on my team had never used a software system at all. He was skeptical because he thought it would slow down his process. When he saw Responsive,” said Terradata’s Joseph Ayala, Proposal Development Center Director. “I’m sold. The information security team is using it for questionnaires. It shortened their completion time from 40 hours to 12.”

Talkdesk: “We have a 100% customer satisfaction rate internally from all users of Responsive,” said Anthony Rossi, Proposal Manager. “Responsive has a multiplicative effect on your proposal managers; operationally, it doubles your effective headcount.”

On World Listener’s Day, immerse yourself in the captivating world of audio series on Pocket FM. As we celebrate the art of listening, what better way to indulge our ears than with a curated selection of gripping narratives and immersive storytelling? Whether you crave heartwarming dramas, or mind-bending adventures, Pocket FM offers a vast library of audio series that will transport you to different realms of imagination. So, grab your headphones, find a cozy spot, and let the power of audio storytelling captivate your senses on this special day dedicated to the beauty of listening.

Celebrate World Listener’s Day by embracing the art of listening and letting your imagination soar with the immersive world 5 must-listen audio series on Pocket FM.

Insta Millionaire

Pocket FM’s all-time blockbuster audio series ‘Insta Millionaire’ follows Lucky’s extraordinary journey from humble beginnings, as he overcomes numerous challenges with unwavering determination and selflessness. Despite the relentless hardships he faces, Lucky remains committed to making his loved ones happy. However, luck rarely seems to be on his side until a pivotal moment changes everything—an unexpected message on his phone promises an end to his struggles and immense wealth. Now, the question arises: will Lucky stay true to himself or succumb to the temptations of his newfound fortune? Join us on Pocket FM to embark on this immersive and inspiring tale that reminds us all that success is attainable without compromising our core values. Through Lucky’s relatable character, experience a story that resonates with the common man, showcasing the power of humility, determination, and a genuine willingness to help others.

Devil Se Shaadi

Prepare for a rollercoaster ride of love and conflicts in Pocket FM’s audio series ‘Devil Se Shaadi.’ The story revolves around Rajveer, an arrogant and feared individual within his own family, who unexpectedly enters into a marriage with Ishqi. As they embark on this union, the fate of their relationship hangs in the balance. Will Rajveer’s arrogant demeanor continue to dominate their marriage, leaving Ishqi trapped and fearful? Or will love transform Rajveer, prompting him to become more understanding and considerate towards Ishqi, leading to a healthier and happier bond. Amidst their journey, external factors and meddling family members may intervene, either aiding or hindering the couple’s efforts to build a successful marriage. With unpredictable twists and turns, “Devil Se Shaadi” promises an enthralling tale of love, passion, and the challenges faced when two contrasting personalities collide.

Agar Tum Saath Ho

Indulge in a tale of heartbreak, redemption, and the power of second chances in the captivating audio series, ‘Agar Tum Saath Ho’ on Pocket FM. Naina, betrayed by her cheating boyfriend Ashwin, finds solace and a glimmer of hope in an unexpected source—Dhruv, Ashwin’s own brother. As Naina rebuilds her shattered life, Dhruv’s presence offers her a fresh start and the potential for happiness. Yet, lingering uncertainty surrounds her as she questions whether this newfound hope will bring the joy she yearns for or if it will introduce a new set of challenges and complications. Emotions run high as the story unfolds, keeping audiences on the edge of their seats, eagerly awaiting the fate of Naina and the profound impact Dhruv’s entrance will have on her life. Will Naina find the happiness she deserves? Tune in to ‘Agar Tum Saath Ho’ on Pocket FM to uncover the secrets of Naina’s future and the transformative power of love.

Majburi Mein Bandha Ek Rishta

Enter a world of complex relationships as Rudra and Anya’s lives collide in Majburi Mein Bandha Ek Rishta on Pocket FM. Bound together through a forced marriage, Rudra’s reluctance to commit creates a shaky foundation, amplified by Anya’s painful past. Trust, respect, commitment, and shared values become crucial for their success. As Anya grapples with her well-being, she must make a pivotal choice: stay with someone lacking commitment and respect or forge her own path. Navigating this intricate web requires guidance. Will love conquer all, or is this relationship doomed? Discover the answers in the gripping audio series, Majburi Mein Bandha Ek Rishta, on Pocket FM.

Sherdil

Unleash the thrill of a former soldier’s redemption in ‘Sherdil’ on Pocket FM. After a military mishap leads to his dismissal, Arjun sets out on a high-stakes mission—to save his friend’s sister from life-threatening danger. In a twist of fate, he strikes a deal to become the formidable bodyguard of the influential business tycoon, Isha. Little does Arjun know, his protective role ignites a relentless vendetta against him from Isha’s ruthless adversaries. Can Arjun shield Isha from these imminent threats and honor his duty as her unwavering protector? Brace yourself for heart-pounding suspense and unexpected twists. Tune in to Sherdil on Pocket FM to discover the fate of Arjun and the electrifying battles that lie ahead.

Pune, 19th July 2023: Affordable Robotic & Automation Ltd. (ARAPL), a prominent player in the Automation sector, today announced that it has commenced the process of migrating from the Small and Medium Enterprises (SME) Exchange to the Main Board of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This significant milestone marks a new chapter for the company and its valued shareholders.

The decision to migrate to the Main Board is driven by ARAPL’s sustained growth, improved financial performance, and increased market capitalization. By migrating to the Main Board, the company aims to bolster its visibility, attract a broader investor base, and leverage the advantages associated with listing on India’s premier stock exchanges.

“The Migration to main board is happening at a time when we are in a growth trajectory , this is good for the investors, we have had a 40% YOY growth last year and this gives us tremendous confidence that this disproportionate growth is here to stay for next couple of year” Milind Padole, Managing Director and chairman at ARAPL. The migration process entails complying with the stringent listing requirements of both the BSE and NSE. ARAPL is fully committed to meeting these requirements and has already initiated the necessary steps to ensure a seamless transition. The company will collaborate closely with its legal and financial advisors to ensure compliance with all regulatory obligations and timelines.

Moving to the Main Board will provide ARAPL with several advantages, including increased liquidity and trading volumes, improved access to capital markets, enhanced corporate governance standards, and broader analyst coverage. These factors are expected to further fortify the company’s position and unlock additional growth opportunities.

Mr. Mukund Shah, the CEO of Affordable Robotic & Automation Ltd (ARAPL), expressed his enthusiasm about the migration process, stating, “We are thrilled to embark on this important step in our journey. Migrating to the Main Board demonstrates our unwavering commitment to sustained growth and shareholder value. We firmly believe that this move will amplify our visibility, broaden our investor base, and provide us with increased access to capital markets. We eagerly anticipate the continued support of our shareholders and stakeholders throughout this transition.”

“One major player in the same warehouse automation space “Addverb” have recently announced a growth plan of achieving 8K crores in the next 5 years, this shows the huge potential the new subsidiary has in the time to come“ said Robinson Philipose CoFounder and CEO ARAPL RaaS. ARAPL RaaS recently announced its foray in the US markets by appointing Toyota lift northwest as its channel partner.

ARAPL will ensure that its stakeholders, including the media and customers, are well-informed about the progress of the migration process and anticipates completing the migration within the stipulated time frame. The company remains steadfast in its focus on core business strategies, unwavering customer satisfaction, and the creation of long-term value for its esteemed shareholders. Arapl has also invested in a Bangalore-based company Dheeyantra research labs again in the AI space.

New Delhi: ICICI Prudential Life Insurance has registered a 32.7% growth in its Profit after Tax (PAT) to ` 2.07 billion for Ǫ1-FY2024, exhibiting strong performance for the quarter. The Value of New Business (VNB), which represents the present value of future profits, stood at `4.38 billion with a VNB margin of 30.0% for Ǫ1-FY2024.

A comprehensive suite of products coupled with a need-based selling approach has resulted in the New Business Sum Assured, an indicator of the life cover opted for by customers, growing by 8.8% to ` 2,403.04 billion for Ǫ1-FY2024. During the same period, the retail protection Annualised Premium Equivalent (APE) registered a strong year-on-year growth of 61.8% to ` 1.10 billion.

A well-diversified distribution network is enabling the Company to reach out to a wider cross-section of customers to drive growth. The total APE for the Company stood at

`14.61 billion with minimal concentration risk from any single distributor. Similarly, data analytics & digitalization is enabling the Company to get better customer insights. This has yielded desired results and persistency has improved across all cohorts. The 13th-month persistency ratio for Ǫ1-FY2024 improved to 86.4%.

The Company’s robust risk management framework has enabled it to have a record of zero Non-Performing Assets since inception. Also, the Assets Under Management (AUM) grew by 15.8% year-on-year to ` 2,664.20 billion at June 30, 2023. This is a testimony to customers placing their trust in the Company to enable them to achieve their long-term financial goals.

Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance said, “Our very purpose of existence is to provide financial security to our customers and their families. We believe we are trustees of the life savings entrusted to us by our customers to achieve their protection, retirement, health and long-term savings goals.

In Ǫ1-FY2024, the VNB stood at ` 4.38 billion, with a margin of 30%, while PAT grew 33% year-on-year to ` 2.07 billion. With customer-centricity at the core, we will continue to focus on growing the absolute VNB, through the 4P strategy comprising Premium growth, Protection focus, Persistency improvement and Productivity enhancement.

Through Ǫ1-FY2024, we have observed an improving trend in business, with double digit growth in APE for the month of June 2023. Our efforts towards expanding the protection business are visible in the 62% year-on-year growth in the retail protection segment and this has led to the overall protection business contributing nearly a quarter of the total APE. Further, our well-diversified distribution network has ensured we have minimal concentration risk from any single distributor. Our persistency across cohorts has further improved, reflecting our need-based selling approach, with the 13th month persistency at 86.4%.

To improve our performance across the 4P strategic elements, we have institutionalised a 4D framework comprising Data analytics, Diversified propositions, Digitalisation and Depth in Partnerships, with a focus on developing a quality business in a risk-calibrated manner. This framework will ensure products are aligned with customer needs, are designed to meet those needs effectively, are developed with the highest quality standards, and are delivered through the most appropriate channels. Also, this framework will help us provide simplified and hassle-free processes to our customers across the product life cycle.”

Operational metrics:

 Based on the management forecast of full-year cost

1. Regular and Limited pay persistency in accordance with IRDAI circular on ‘Public Disclosures by Insurers’ dated September 30, 2021; Twelve-month rolling persistency
2. Total Cost including commission / (Total premium – 90% of single premium)

Components may not add up to the totals due to rounding off

19th July 2023 Mumbai Tilt Brand Solutions has been appointed as the brand and communications agency on record, by Myntra – India’s leading fashion, beauty, and lifestyle online platform. Mumbai-based Tilt Brand Solutions is a part of Quotient Ventures.

This move comes as Myntra readies itself for its next phase of growth while continuing to revolutionize the way Indians shop for fashion, lifestyle, and beauty.

Rajiv Chatterjee, Group Chief Growth Officer, Quotient Ventures said, “Myntra is a prestigious addition to our client portfolio and we are thrilled to partner with them at a stage when they have accelerated their growth ambitions. We are confident in our ability to bring to bear on this journey, our proven competencies in data-based strategy, understanding culture and great storytelling.”