Category business

Gurugram: The DLF Club5 was abuzz with excitement as the theatrical production, “Play It Right,” brought the age-old tradition of storytelling to life. This satirical play portrayed a comedic outlook on the world of adults through the eyes of teenagers. Co-directed by Aditya Singh and Vaanya Ohri, the play was based on the book “Play it Right” written by Vanessa Ohri. Aditya and Vaanya are senior students of The Shri Ram School, Moulsari branch and, with Play It Right, they are combining their love and passion for theatre with a desire to support underprivileged children battling with cancer.

The funds raised for the event were directly donated to CanKids KidsCan, the National Society for change for childhood cancer in India. The evening witnessed an enthusiastic turnout of art and culture lovers enjoying the play and supporting the cause. With more than 200 registrations, the initial goal of 5 lakhs was easily met and donated to the cancer treatment organization. The fundraiser is still active for another 20 days and the children hope to raise an even greater amount. The talented cast of pre-teens and teens of age group 7-17 years from various schools in Delhi and Gurugram enthralled the audience by delivering a captivating performance and immersive storytelling.

The young directors Aditya Singh and Vaanya Ohri said, “We are thrilled with the success of ‘Play it Right’ and the overwhelming support we received from the community. It has been very gratifying to be associated with this very meaningful cause especially since the event raised not only financial support but also awareness about the treatment of childhood cancer and encouraged more people to make a difference.”

The event was a memorable evening of entertainment, showcasing the power of art to bring people together for a good cause and was an excellent representation of the art of storytelling and a beautiful reminder of the power of theatre to entertain, educate and inspire.

8 May 2023, Dubai, UAE: In its 127th edition, Mahzooz, the UAE’s favorite weekly draw with the biggest and most frequent pay-outs, was crowned the ninth GUARANTEED winner of AED 1,000,000, as part of its recently launched prizes and saw 1,159 participants take home AED 1,487,750 in prize money.

While the top prize of AED 20,000,000 went unclaimed this week, 27 participants matched four out of the following five numbers 23, 32, 35, 37, 49 and shared the second prize of AED 200,000, earning AED 7,407.40 each. 1,131 other winners matched three out of five numbers and received AED 250 each.

As part of Mahzooz’s revamped prize structure, where one lucky participant becomes a guaranteed millionaire every week, the 127th draw awarded Shahabaz from India, holding the raffle ID number 33929708, the guaranteed raffle prize of AED 1,000,000.

While the new prizes have become bolder and better, the rules of participation remain the same and will now be exclusively offered through the Saturday Mahzooz draw, held live at 9.00pm. For only AED 35, participants can purchase a bottle of Mahzooz water, and enter the weekly draw consisting of the Grand Draw, for a chance to win the new top prize of AED 20,000,000 and the new weekly Raffle Draw, which will grant AED 1,000,000 every week to a GUARANTEED millionaire-to-be.

Mahzooz means ‘lucky’ in Arabic and is the UAE’s favourite draw that offers participants a life-changing opportunity to win millions every week. Mahzooz is dedicated to making people’s dreams come true and giving back to the community.

Doodling, an age-old form of human expression, has captivated minds for centuries. Whether etched on a humble napkin or intricately sketched within the pages of a sketchbook, doodling offers a medium for us to convey our thoughts, emotions, and experiences creatively and profoundly. Embracing this art form as a way of life is Atul Kabra, the visionary behind Doodle Kabra.

At the onset of the pandemic, like many of us, Atul found himself confined to his home, yearning for meaningful ways to fill the passing hours. Instead of surrendering to the temptations of binge-watching television or endlessly scrolling through social media feeds, Atul resolved to channel his creativity into a productive endeavour. Armed with a pen, he embarked on a journey of doodling.

Initially, it was simply a pastime, an avenue for personal amusement. However, as Atul continued to breathe life into his creations, he discovered that his doodles were far more than mere lines and shapes on paper—they were narratives. They conveyed tales of people’s lives, chronicled their experiences, encapsulated their passions, and illuminated their dreams.

Thus, Doodle Kabra came into existence. Atul began sharing his doodles on social media platforms, and before long, a wave of admiration ensued. People marvelled at how a seemingly unassuming sketch could capture the very essence of their lives, evoking sentiments in such an extraordinary and profound manner.

Celebrities and influential figures were among the first to be enraptured by Atul’s doodles, commissioning him to create artistic interpretations that mirrored their journeys. From the esteemed Chief Justice of Telangana to renowned actors such as Rana Daggubati and Allu Arjun, Atul’s work has managed to touch the hearts and souls of individuals from all walks of life.

However, Atul’s mission extends beyond the creation of exquisite artwork. His ultimate goal is to inspire individuals to recount their own stories through the power of doodling. Consequently, he has taken his passion to schools, where he imparts the skill of self-expression through doodling to students.

For Atul, doodling is not merely a hobby; it is a way of life. It serves as a medium to forge connections with others, comprehend their experiences, and share their narratives with the world.

If you seek an extraordinary and profound means of capturing your life story, look no further than Doodle Kabra. Atul’s artistic genius and unwavering dedication to storytelling ensure that your doodle will transcend its role as a mere drawing and become a poignant reflection of your very essence.

As Atul aptly remarks, “The pen is mightier than the sword.” With Doodle Kabra, you hold the power to wield the pen, illuminate your own story, inspire others, and create a lasting legacy that will be cherished for generations to come.

Mumbai, May 8, 2023:Wardwizard Innovations and Mobility Ltd., one of India’s leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’, is continuing its aggressive network expansion to bring electric mobility closer to customers. As a part of its restructuring of the distribution-dealer model, the company has inaugurated an exclusive distributor showroom in Jaipur today. Operating under the banner of Dreams EV World, this showroom represents the company’s first step towards strengthening relationships with taluka-level dealers.

The Distributor Showroom Dreams EV World is located at Mangalam Radiance Airport Plaza, Jaipur, Rajasthan. The distributor is equipped with complete sales and service facilities with an area of 3,500 sqft to facilitate the brand’s outreach in the state.It has been designed to offer a complete range of low- and high-speed electric two-wheelers and three-wheeler, as well as the latest offerings such as the MIHOS electric scooter and the Joy e-rik, the first three-wheeler from the company. The showroom provides customers with an immersive one-of-a-kind experience and showcases the brand’s commitment to innovation and quality.

Commenting on the network expansion in the region, Mr. YatinGupte, Chairman and Managing Director- WardWizard Innovations and Mobility Ltd said,“We are thrilled to announce the opening of our Joy e-bike Distributor Showroom in Jaipur, Rajasthan under the banner of Dreams EV World. This showroom isa part of the first phase of our new distributor model. Our goal is to build stronger relationships with our taluka-level dealers and enhance supply chain efficiency for our distributors and dealers nationwide. The Joy e-bike Distributor Showroom in Jaipur is a cutting-edge facility equipped with top-of-the-line sales and service resources, delivering a comprehensive buying and service experience to customers in the region. Our commitment to providing superior customer service and creating a seamless ownership experience has propelled us to introduce this new model. We are excited about the opportunities it presents and look forward to expanding our network of Distributor Showrooms across the country in the near future.”

The company recently announced its plans to restructure its distribution-dealer model by establishing 150 ‘Distributor Showrooms’ at the district level. This move is aimed at strengthening its relationships with taluka-level dealers, facilitating efficient supply chain management for distributors and dealers, and improving vehicle accessibility for customers. With over 600 touchpoints in the country, the establishment of new distribution models aims to elevate high-performing taluka dealers to the position of District Distributors.

Mumbai, 08 May 2023: TCNS Clothing (TCNS), India’s leading women’s ethnic focused fashion player, today announced that it has entered into definitive agreements for combining with ABFRL, India’s leading fashion & apparel company, and a part of the Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through – (1) Acquisition of the founding promoter’s stake through a SPA and a conditional public open offer followed by (2) Merger between the two entities.

The value of the promoter stake and open offer consideration for TCNS is ~ Rs. 1650 Crores for 51% stake, making this one of the largest deals in the Indian fashion space.

Mr. Onkar Singh Pasricha, Chairman and Executive Director of TCNS, commented “This deal marks a true milestone for our company and its stakeholders. Under the support and guidance of ABFRL, TCNS will surely achieve even greater heights of success and excellence. We are happy that we have been able to pass on our legacy to one of the most prestigious and respected groups – one that is known for its values, ethics, corporate governance and employee empowerment. We believe that all stakeholders of TCNS will benefit immensely from this landmark transaction.”

Speaking on the transaction, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “This deal is yet another marker of the Aditya Birla Group’s faith in the dynamism and buoyancy of the Indian consumer economy. As India stands on the cusp of a multi-decadal consumption boom, ABFRL is a forerunner in shaping the fashion landscape of our vibrant nation. For ABFRL, the TCNS deal is indeed a significant milestone as it complements our existing portfolio of exceptional brands across the entire spectrum of Indian fashion. By embracing TCNS’s portfolio of loved women’s ethnic brands, we are reinforcing our commitment to ethnic wear, the largest category in the apparel industry. With this acquisition, the fast-growing ABFRL platform is poised for the next phase of transformational growth.”

Over the years, TCNS has evolved into a leading women’s branded apparel company with proven playbook of multiple brand creations and seamless execution across multiple channels.

Commenting on the acquisition, Mr. Ashish Dikshit, Managing Director, ABFRL said, “As young Indians identify a new-found confidence in their identities woven around Indian culture and heritage, the next set of leading consumer brands will be built in the Indian ethnic wear space. TCNS, through its brands W, Aurelia, Wishful & Elleven, is catering to the Indian women’s fashion needs across markets and price points. Each of these brands have been built over a long period of time and enjoy tremendous consumer love. This transaction is the pivotal piece of our ethnic strategy and marks the culmination of our stated intent of building India’s most comprehensive ethnic wear portfolio.”

Mr Anant Daga, Managing Director of TCNS said, “TCNS has been a pioneer in branded women’s ethnic wear market in the country. Over the last 20 years, we have built India’s most successful women’s franchise on the back of our leading brands. The market continues to offer long-term growth opportunities and our partnership with ABFRL will help us fully realize this potential. ABFRL’s proven brand- building capability, distribution strength and strong ecosystem of partners will help our brands into its next phase of growth and profitability.”

Credit Suisse acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Co acted as the legal advisors for the transaction. Grant Thornton acted as independent valuer for TCNS while ICICI Securities provided the Fairness Opinion to the Board of TCNS.

Transaction Structure

As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% stake at Rs. 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS. Pursuant to the above, TCNS will be amalgamated with ABFRL under the merger scheme wherein public shareholders of TCNS (as on effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.

The transaction is subject to customary regulatory approvals including approvals from the Competition Commission of India, SEBI, Stock Exchanges, and National Company Law Tribunal.

Hyderabad, May 8, 2023: Zen Technologies Limited, a Hyderabad-based leading manufacturer of sensor and simulator technology-based defense Training systems, Drones, and Anti- Drones solutions with a proven and impeccable track record in building training systems for imparting defense training and measuring combat readiness of security forces has announced its financial results for the Q4FY23.

FY23 Vs FY22 (Consolidated)

•  Total Income stood at Rs. 22609.37 lakhs in FY23 as against Rs. 7,513.07 lakhs in FY22.
•  Revenues from operations were reported at Rs. 21884.63 lakhs as compared to Rs. 6,975.24 lakhs in FY22; up by 213.75%
•  Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) stands Rs. 7985.86 lakhs in FY23, as against Rs. 994.68 lakhs in FY22. The Company’s EBITDA margin stood at 35%.
•  Profit Before Tax (PBT) stood at Rs. 6972.66 for FY23 as compared to Rs. 358.28 lakhs in FY22. The Company’s PBT margin stood at 31.86%.
•  Profit After Tax (PAT) increased to Rs. 4997.08 lakhs crores in FY23 as against Rs. 260.97 lakhs in FY22. The Company’s PAT margin stood at 23%.

Commenting on the results, Mr. Ashok Atluri – Chairman and Managing Director, said, I am pleased to share an update on our performance in Q4FY23. Continuing on the strong start to the year, we have further gained momentum in Q4FY23, where both of our business verticals, AMC and Equipment, have reported growth. As previously committed, we recorded the highest revenue in the history of ZEN TECHNOLOGIES. We also secured new orders of worth ₹141.67 crores during the quarter. We have strong order book of ₹473 crores and expecting good growth in coming quarters.We appreciate your continued support and look forward to updating you on our future progress.

Bengaluru, 8th May 2023: Gandhian Centre for Philosophical Arts and Sciences, MAHE organised a two-day unique exhibition, ‘Neyge’ which showcased special talks, documentary screenings, and workshops on Udupi sarees. The exhibition was held at Gandhian Centre, Manipal on 5th and 6th May and was inaugurated by Mrs. Indira Ballal, Philanthropist, at Gandhian Centre, MAHE. Mrs. Mamata Rai, President Kadike Trust, was the Guest of Honour, and Dr. HS Ballal, Pro-Chancellor MAHE, presided over the inauguration ceremony. This was followed by documentary screenings and event also included an exhibition of Udupi sarees, a photo exhibition, a history corner, a Yakshagana Corner, and a sale of Udupi sarees by the weavers.

As a part of the Gandhi-King Exchange initiative, Neyge was launched by the U.S. Department of State’s Bureau of Educational and Cultural Affairs. The exhibition of Udupi Sarees aims to bring attention to the significance of sustainable fashion and conversations about conscious consumption.

Speaking about the inauguration, Dr. HS Ballal, Pro-Chancellor, MAHE commented, “This was an attempt to bring Udupi sarees which are close to the philosophy of nature, to the younger generation. We are proud to provide a platform that brought different scholars, academicians, and weavers together to share their ideas and promote sustainable fashion.”

Chief Guest, Mrs. Indira Ballal, Philanthropist said, “Reviving sustainable fashion is a challenging task. It was a delightful experience to be a part of the support system and bringing this closer to the younger generation.”

Mrs. Mamata Rai, President Kadike Trust said, “I am extremely proud to be a part of the movement that aims to combat environmental impacts such air pollution, water pollution, and climate change being caused by the fast fashion.”

Gandhi-King Fellowship has been awarded by the Bureau of Educational and Cultural Affairs, USA. The ultimate goal of the Gandhi-King Fellowship is to inspire and develop a network of aspiring young civic leaders from India and the USA to work together to advance civil rights, social justice, and inclusion locally, nationally, and internationally by exploring the history and legacies of Mahatma Gandhi and Dr. Martin Luther King, Jr. Lavanya N K, who is an alumna of GCPAS, MAHE and Roydon, a commerce graduate from Mumbai are the two recipients of Gandhi-King Fellowship who participated in the training program held at University of Alabama in 2022.

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Hyderabad, May 8, 2023.…. One of the biggest challenges and opportunities in corporations is to grow leadership beyond leaders said Prabir Jha, a Civil Servant turned India’s one of the top HR Professionals. Delivering a keynote address on “Enabling Organisational Effectiveness Today” at the HR Conclave organised by FTCCI (Federation of Telangana Chambers of Commerce and Industry) in the city at Hotel Park Hyatt Prabhir Jha said you can not solve pediatric problems with geriatric solutions. The new-age problems need new-age solutions. If the purpose of people doesn’t match the purpose of the business in the organization, how do you connect? The salaried job people when they get paid in dollars obviously, jump. It is very important to build a culture of collaboration.

Building effective alignment is very important. He talked about change, structure, cultural innovation, leadership etc. Policies no doubt are important. But they should not be mere guidelines. They should be about enablement. Private organisations shouldn’t work like government institutions. Bureaucracy in fact is a killer. Innovation is key to organizational effectiveness. Innovation only comes when you are willing to disrupt your old practices. Power distance is a problem in most organizations for innovation. Talk of innovation should go beyond products, services, business, supply chain, and HR/ Finance models. We should include innovations within ourselves. How much do we innovate in ourselves, our mindsets and our leadership styles? Without that there is no true breakthrough, he said.

Speaking about culture as one of the key elements of organizational effectiveness, he asked is your culture enabling your effectiveness? Culture doesn’t have to be handcuffed. It is an industry norm that the misfit in the culture is not hired. But, that shouldn’t be the case. We need people who think differently. And that is how you will ensure diversity. If you want to transform the company start with people’s agenda he told.

The problem with most of us is we just think the way we always thought. We must hire people better than us. You must hire more intelligent and smarter than you.

Dysfunctional leadership teams easily wreck the best strategic aspirations. Individuals may be great but collectively they fail. Imagine the cost of having such a team at the top! Unimaginable? Intervene before it is too late, he told.

Prabhir Jha gave 8 leadership commandments for Organisational Effectiveness such as 01. Stay genuine and authentic, 02. Challenge Conventional Wisdom; 03. Keep the flock together, 04. Construct meaningful jobs, 05. Build empathy and connect 06. Bring in inspiration, inclusion and innovation, 07. Upgrade your culture and 08. Grow leadership beyond leaders.

Speaking on the occasion, Sri R. Chandra Shekaram Joint Commissioner of Labour Govt of Telangana said the meaning of industrial relation is changed drastically over the period of time. Today all the stakeholders expect relations to be balanced, mutually respectable and trustworthy. The companies which contribute by way of taxes and a partner in the growth story of the government command respect. The Governments encourage industries. Then only the region can prosper. The human element must be given importance in this relationship he said.

Giving a welcome address Anil Agarwal, President of FTCCI said the theme of the conclave “Empowering organizational effectiveness covering People Management, High Performance, Industrial Relations and Effective Future Leaders” is apt and relevant to the current context as we are working towards achieving $5 trillion economy target by FY 2026 and 2027. But the way things are, I have a feeling that we may cross that milestone even earlier. Recently I was in Chennai and astonished to know that the state of Tamil Nadu put its target as 1 trillion and if all the states compete for economic growth with each other we can easily achieve even 10 trillion. HR is a very important function. It is the backbone of our economy. All organizations must have strong HR functions. HR can play a significant role by creating a culture of empowerment, he said.

HR is no longer merely an administrative job. It is much more. There is strong HR backing behind every successful company. If any company wants to grow, it must put HR in the forefront, said R. Ravi Kumar, Chairman of the HR & IR(Human Resources and Industrial Relations) Committee of FTCCI.

The other speakers of the day-long conference include Mr F Israel Inbaraj, Head-HR Compliance, Adani Group, Ahmadabad. He spoke on Achieving Organizational Effectiveness through sound Industrial Relations. He said there are no laws to protect productivity. But how do you ensure productivity? It can only happen through organisational effectiveness through sound Industrial relations.

;Sri Rajorshi Ganguli, President and Global HR Head, Alkem Laboratories Ltd, Mumbai spoke on Nurturing Future Leaders. Sri Mohan R. Sharma Managing Partner, Thought Leaders Academy, Hyderabad spoke on Coaching for High Performance and Mr Arun Leslie George Executive Vice President & Head of Retail Business, Coromandel International Ltd, Hyderabad talked about People Management for Business Development

A panel discussion on Innovation and Digital Transformation in Industry. The panelists were Sri B S Murthy Director, IIT Hyderabad and Mr Saravana Janardhanan, Director of Plant Operations, Schneider Electric India Pvt ltd.

In a changed work environment, leadership serves a variety of purposes in ensuring the smooth operation of an organization. Effective people management practices help in empowering employees, enhance their skills and abilities, maintain a positive work environment, facilitate collaboration and teamwork, foster employee engagement and retention and drive optimal performance observed the speakers.

New Delhi, May 8, 2023 : Rashtriya Purvanchal Mahasangh and Mangalia Arts will organize a grand event on May 7 at the Talkatora Stadium in Delhi, where they will honor Purvanchal Samman and Mangalia utkrishtata Samman. This information was provided by the organizers of the event, Manish Singh, the coordinator of the program and the president of Rashtriya purvanchal Mahasangh, and Rishi Kumar Mangalia, the co-coordinator of the program and the founder of Mangalia Arts, at a press conference held at the Delhi Press Club. Along with Manish Singh and Rishi Kumar Mangalia, the press conference was attended by Rahul Ranjan, the General Secretary of the rashtriya Purvanchal Mahasangh, and Rahul Trivedi from the Delhi BJP Media Cell.

Manish Singh, the coordinator of the event and the national president of Purvanchal Mahasangh, said that the inauguration of the program at the Purvanchal Samman Samaroah will be done by Delhi BJP state president, Virender Sachdeva, and BJP national vice president and Delhi BJP in-charge, Vijayant Panda, along with the renowned singer and MP, Manoj Tiwari, who will also be the chief guest of the program. Famous actor and MP Ravi Kishan and popular singer and MP Dinesh Lal Yadav Nirahua will also be present at the event.

In addition to these distinguished guests, the program will be graced by the presence of several eminent personalities, including Union Minister Giriraj Singh RK Singh and Meenakshi Lekhi, among others.

Manish Singh said that the objective of the Purvanchal Samman Samaroh (Purvanchal Honor Ceremony) is to honor those who have increased the respect and reputation of Purvanchali by doing excellent work in India and abroad. This is the first occasion in Delhi when a Purvanchal Samman Samaroh is being organized on a large scale. 25 Corona Warriors who have done outstanding service in Purvanchal without caring for their own lives during the pandemic will also be honored. Apart from this, people associated with every field are being honored.

Rishi Kumar Malangiya, the program coordinator and founder of Malangiya Arts, said that the purpose of the Purvanchal Samman Samaroh is to provide protection and conservation to folk literature, folk art, and folk traditions. This year, we are jointly organizing the Purvanchal Samman Samaroh and Malangiya Excellence Awards. The 2023 Purvanchal Honor and Malangiya Excellence Awards will be given to people like Dr. Uday Narayan Singh Nachiketa, Umesh Kumar, famous young singer Deva Nand Jha, Khushi Goswami, Swastik Bharadwaj, renowned stage artist Dr. Prakash Jha, Kumar Saurabh, Dhukar Pandey, Sakhi Bahinapa Maithilani group, and others who have illuminated the name of Purvanchal through their outstanding work. Hundreds of people from Purvanchal living in India and abroad will be present at the program. Honors will be given to various people in the program.

Media Invitation

Rashtriya Poorvanchal MahaSangh & MALANGIA Arts

Cordially Invites you

“ Poorvanchal Samman Samaroh & Malangia Utkishtata Samman 2023”

On

Sunday, 7th May 2023, 11:00 AM to 3:00 PM

At

Talkatora Stadium,New Delhi

Chief Guest:

Shri Giriraj Singh
( Minister of Rural Development & Panchayati Raj ,GoI)

Shri Manoj Tiwari
( Member of Lok Sabha )

Shri Virendra Sachdeva
( Delhi BJP, President )

Guest Of Honour:

Shri Baijayant Panda
( National Vice President and Spokesperson of BJP )

Shri Ravi Kishan
( Member of Parliament, Gorakhpur and Famous Actor )

Shri Dinesh Lal Yadav
( Member of Parliament and Famous Actor & Singer )

The Board of Directors of RBL Bank Limited approved the audited financial results for the quarter and year ended 31st March 2023 at its meeting held on Saturday, 29th April 2023.

Results Summary for Q4FY23 and FY23

· Highest Quarterly and Annual Net Profit:

• Net Profit grew 37% YOY & 30% QOQ to `271 crore for Q4 FY23; Net Profit for FY23 was `883 crore vs Loss of `75 crore for FY22
•  ROA of 1.00% vs 0.78% for Q3 FY23
•  Operating profit was `594 crore
•  Total Revenue grew 15% YOY and 7% QOQ to `1,885 crore
•  Net Interest Income grew 7% YOY and 5% QOQ to `1,211 crore; NIM was 5.01% vs 4.74% for Q3 FY23
•  Other Income grew 32% YOY and 9% QOQ to `674 crore
•  Cost to Income was 68.5%

· CASA and Deposits Growth:

•  CASA grew 14% YOY and 6% QOQ to `31,717 crore. CASA ratio at 37.4% vs. 35.3% as at 31st March 2022
•  Total deposits grew 7% YOY and 4% QOQ to `84,887 crore
•  Retail Deposits (as per LCR definition) grew 18% YOY and 4% QOQ to `36,319 crore

· Advances Growth:

•  Net Advances book grew 17% YOY and 5% sequentially to `70,209 crore
•  Retail Advances book grew 21% YOY and 8% sequentially to `37,778 crore
•  Retail disbursement for Q4 FY 23 at `4,391 crore against the disbursement of `2,685 crore in Q3 FY 23
•  Retail: Wholesale mix at 54:46
•  Housing loans grew 86% YOY; Rural vehicle finance crossed the `1000 crore mark milestone
•  Bank introduced new retail asset products like Gold loan, Working capital/ term loan for MSME, Vehicle loans etc. in the last financial year
•  5.5 Lakhs credit cards issued in this quarter; Total cards outstanding at 4.4mn
•  Total customers grew to 12.91mn, an increase of 16% in the last financial year

· Well capitalized with sound liquidity:

•  Overall capital adequacy was 16.9% and Common Equity Tier 1 ratio was 15.3%
•  Average Liquidity Coverage Ratio at 126%

· Asset quality:

•  Gross NPA ratio improved to 3.37% vs. 3.61% as at 31st Dec 2022 and 4.40% as at 31st March 2022, improved by 103 bps over FY 22
•  Net NPA ratio improved to 1.10% vs. 1.18% as at 31st Dec 2022 and 1.34% as at 31st March 2022, improved by 24 bps over FY 22
•  Provision Coverage Ratio including technical write offs was 85.0% vs 84.7% as at 31st Dec 2022
•  Credit cost 29 bps against 39 bps in Q3 FY 23 and 71 bps in in Q4 FY22; Credit cost at 149 bps in FY 23, 70% lower than FY 22

· Network

• s of 31st March 2023, the Bank has 517 bank branches and 1,166 business correspondent branches, of which 298 are banking outlets. RBL Finserve Limited (“RBL Finserve”), a 100% subsidiary of the Bank, accounts for 821 business correspondent branches

Key Financials:

Key ratios:

Commenting on the performance, Mr. R Subramaniakumar, MD&CEO, RBL Bank said “We have completed Q4 and FY23 on a strong note with our highest quarterly and annual profit. We are confident of continuing this momentum into the next year with our strong leadership team and committed employees. Our business growth, driven by granular advances and deposits growth, continues to improve, in line with our strategy and execution. New initiatives undertaken in FY23 on new secured product launches, and scale up of granular retail products are also starting to bear fruit. With the scale-up of these products and introduction of new products (both digital and branch based) in the coming year, we expect growth to become more broad based. Our asset quality parameters have further improved and capital position continues to be healthy giving us the runway to accelerate sustainable profitable growth.”