How Investment Advisory Pros at Purnartha pick companies worth investing in?
Mar 1, 2019 - Purnartha
Indian Bank – carrying "Your Own Bank" tag with utmost pride!
Amidst the current challenging period for the banking sector in India, there is a Public Sector Bank that has outshined its peers. It is the Chennai-headquartered Indian Bank. Indian Bank today, with over 9400 touch points across the country, has crossed the milestone business level of Rs 4.00 lakh crore The Bank has featured in the Most trusted brands in the Public Sector Bank category and has been acknowledged as India's Best Bank (source: Economic Times, Magazine). A 111-year old Bank, Indian Bank, has been consistently proving that it has the capacity to adapt to the changing environments at different points of time. It has many 'Firsts' to its credit when it comes to merging banking and technology for better, safer and more convenient solutions. The Bank was the first to migrate from Total Bank Computerization (TBC) to 100% Core Banking Solutions (CBS). Installing the first ATM by any public sector bank in 1989, installing the first drive-in ATM of the country during 1990, introducing the first ever voice-guided biometric ATM in 2007 to name a few. The Bank launched an industry-first mobile app to block and manage limits of debit card and credit card, the 'IB Smart Remote'. Indian bank has been constantly reinventing with a futuristic vision to meet the challenging and dynamic needs in this technology-driven era. While doing so, the bank pays serious attention to the safety and security of customers' transactions. Like any other financial institution, Indian Bank too had to stave off many challenges in its long history, the most formidable one being during the late 1990s and early 2000s. The sheer commitment of employees and unflinching loyalty of customers are the Bank's core strengths and the Bank could script a successful, historic turnaround of its fortunes mainly because of these factors. Carrying the tag 'Your Own Bank', the Bank is looked upon with pride in India. Indian Bank has never looked back ever since its historic revival, continuously posting profit for over one and half decades. The Bank's pre-eminent position is indicated by the fact that after the infusion of Capital by Government of India during its turnaround, Indian Bank is the only exception among nationalized Banks that has never sought recapitalization support from Government. Harnessing its strong technological backbone and vast experience, the bank has undertaken a well-planned and well-executed credit disbursal route, balancing growth and quality. Indian Bank has been a forerunner in serving the unbanked and under-banked centers through tech-based initiatives, thereby fulfilling its mission to be a Common Man's Bank. The Bank's pioneering efforts in supporting SHG movement and promoting Financial Inclusion has earned for it the coveted recognition continuously for 18 years from Government of Tamil Nadu, besides others. It will not be an understatement if one says that Indian Bank has been the life-changer for many socially and economically deprived and vulnerable sections of the society. Having been born out of the people's movement, Indian Bank is a responsible corporate citizen. The Bank has based its CSR policy on five pillars, viz., inclusive growth, deepening financial literacy, ensuring a worthy life environment through green initiatives, empowerment of women to bring in gender equality and fostering economic independence to the downtrodden and economically weaker sections, women and poor through vocational skill development. On 9th March 2019, the Bank celebrated "International Women's Day" and felicitated twelve women achievers. On that day, the Bank also launched "IB- Surabhi", a Savings bank Account exclusively for women. The product offers a bouquet of facilities like concessional rent for locker and interest on loans, insurance coverage, purchase protection, personalized cards, and free services. As a step towards getting closer to the rural people, various developmental activities including literacy and counseling programs on credit, deposit products, social security schemes, and digitization have been undertaken through centers established for the said purpose under "Indian Bank Trust for Rural Development'' (IBTRD). To create opportunities for entrepreneurs to pursue various self-employment options, Rural Self Employment Training Institutes of the Bank (INDSETIs) have been imparting necessary training for skill building. Both these initiatives of the Bank have received due recognition and reward from NABARD & Ministry of Rural Development. Creating a healthy society has been foremost in the agenda and a number of initiatives for the poor and the marginalized have been undertaken through various health care and blood donation camps. Envisioning a clean and hygienic environment for the next generation, Bank is an active advocate of "Swachh Bharat Mission" and numerous activities in this regard have been carried out across the country like construction of toilets in girls' schools, donation of sanitary napkin vending machine and incinerator in women's colleges, cleanliness drive at various places etc. With the presence of well-matured ingredients, Indian Bank has re-positioned itself to cater to the changing needs of its consumers with the primary focus on attuning itself to provide consumer-centric services across the Banking landscape and achieving profit-enhancing accelerated business growth through improved operational efficiency. Going forward the goal would be to continuously pursue the vision to be a competitive and strong bank with a commitment to excellence and focus on adding value to customers, shareholders and employees with adherence to best practices and core institutional values shared throughout the Organization.
Mar 22, 2019 - ET Awards Tamil Nadu
How Investment Advisory Pros at Purnartha pick companies worth investing in?
Acquiring or generating wealth is a consistent and ongoing process. With little, you make more money and with more money and little risk, you accumulate more riches. Purnartha Investment Advisors, a SEBI registered firm, is your authentic partner in wealth creation and provides comprehensive equity research, and insight-backed personalized investment guidance. Since April'09 to Dec'18, Purnartha yielded remarkable CAGR of 44.37% compared to NIFTY that only delivered 14.74%. Moreover, the last financial year returns were spectacular too. It gave 31.63% versus NIFTY that delivered 10.25%, only. Replacing speculation with analytical insights The health of your investment portfolio is influenced by the quality of equity advice you follow. While SEBI strictly regulates the advisory arena, speculations have always found their ways to the investors and unreliable incompetent analysis of investment unworthy or underperforming business units results in losses. Investment education and discipline are vital to maintaining an impressive portfolio that pays handsomely. Investors keen on maximizing the return on their investments must ensure that they prioritize harnessing the power of long-term investment opportunities and factual analysis of opportunities instead of mere speculation. To make sound investments that yield fruit in the long run, you must make use of expert insights and quantitative and qualitative analysis of the investment opportunities to grow your ROI. How Purnartha determines which companies are worth your money? Identifying companies worth investing in should never be based on speculation or media hype. Investment advisory experts at Purnartha follow a meticulous approach for ensuring that the stocks pay consistently in the short and long term. History of the company The first factor that goes into the evaluation of the company is its history. Purnartha's team of analysts assesses the 11 year credit cycle of the company to evaluate how the fluctuations in the GDP have affected the positive cash generation and whether the growth has been sustainable or not. Business Model of the company The next step is to analyze the structural drivers to further evaluate the organic growth drivers and statistics of the company. Primarily, the Purnartha team believes that it's the cash generated that points analysts in the accurate direction. A business model that flourishes without any debts and continues to generate consistent cash returns is a promising prospect compared to a company that borrows to fund its growth. Analysts at Purnartha focus on companies that grow owing to funding from clients or investors instead of debts in addition to the net cash in possession of the company. Furthermore, the analysts assess the unique promising business models that innovate the existing market boundaries. On a fundamental level, the core structural drivers of the company along with promoters' interests occupy a major chunk of the evaluation process. Volume Growth Analysts at Purnartha further check growth potential of the company based on its entrepreneurial value and operating cash flow metrics. In addition to valuing how the company has performed in the past one decade, projections supported by analytics regarding how the company will perform in the next five years also goes into the comprehensive evaluation. Channel Checks Stakeholder interest, positive history and fundamental growth drivers of the company provide a rather accurate picture of how the company will grow. Purnartha Analysts further identify the key personnel like distributors, merchants, suppliers, customers, competitors, etc responsible for driving the company further and perform the necessary channel checks to get insight into the company culture, consumer behavior, etc. Valuation Analysts further use accurate data and research to develop fruitful portfolios to provide valuable wealth creation and investment advisory. Purnartha's philosophy is rooted in the belief that the growth of a company is best evaluated based on its critical and fundamental growth factors. For those who are new to the finance jargon, think of analyzing a company's potential and their value like analyzing the value of an asset that you are keen on investing in. Does it give enough returns? How quickly will it give you returns? Has it been fruitful in the past or is this a risky venture where you might just lose your money? Analytical research helps analysts determine the growth prospects of a company based on their debt status, cash generation, cash in possession and funding available. The whole philosophy of wealth creation is rooted in frugality; why spend a million resources getting a task done when it can be done more efficiently without spending a huge amount of money. The ROI potential of a company is influenced by the core growth drivers (significantly, more cash and profit generation with declining or no debts). For more details, please mail at firstname.lastname@example.org Or Contact us on 1800-102-6975 Also check out CNBC Interview with Rahul Rathi.
Mar 1, 2019 - Purnartha
Hiring records 13% YOY growth in June2018: TimesJobs RecruiteX report
June 2018 recorded 13% growth in hiring activities, as compared to June 2017. In month-on-month analysis, recruitment data recorded subdued activities in general, with FMCG, BFSI, IT/Telecom sectors clocking maximum hiring. Tier II cities recorded highest growth in talent demand. July 9, 2018, New Delhi: Hiring activities have shown 13% growth in a year-on-year comparison, reports TimesJobs RecruiteX June 2018 data. In YoY analysis, the index witnessed an upward swing by 13 points with the index moving from 60 points in June 2017 to 73 points in June 2018. The month-on-month analysis, however, reported subdued hiring in June 2018 as compared to May 2018. Consumer Durables/FMCG sector (up by 11 points as compared to May 2018) posted most jobs in June 2018, followed by BFSI, IT/Telecom, Healthcare and Automobiles sectors subsequently. The TimesJobs RecruiteX June 2018 report has also revealed that Sales/Business Development roles were most sought after. Talent demand was also high for IT/Telecom and Customer Services/Tele-calling profiles respectively. This indicates that organisations in these sectors are ramping up the respective workforce steams. "June 2018 has been marked with encouraging news and announcements of business expansion, especially in the FMCG sector. The RecruiteX data for June 2018 points that FMCG had most jobs in this time and Sales/Business Development roles were most sought after. This clearly reflects that there is a positive sentiment in the economy and organisations are aiming for business growth. FMCG is a major contributor to economy and hopefully, this momentum will continue for some more time," said Ramathreya Krishnamurthy, Business Head, TimesJobs and TechGig. Among cities, just like May 2018, June 2018 also recorded most hiring activities in Tier II cities. Jaipur, Vadodara and Hyderabad recorded significant jobs and career opportunities. Mumbai and Delhi-NCR were among the top ten hiring cities. When comparing experience levels, most jobs were available for people with work experience level of less than 2 years. A similar trend was witnessed in May 2018 as well. Professionals with more than 20 years of experience were also in strong demand. Who is hiring in India >> · Consumer Durables/FMCG · BFSI · IT/Telecom Which job roles are in demand >> · Sales/Business Development · IT/Telecom · Customer Service/ Tele Calling Which cities are hiring >> · Jaipur · Vadodara · Hyderabad Complete report is available at https://bit.ly/2L3UIQB
Jul 9, 2018 - TimesJobs
CRISIL partners IIM Calcutta, TSW for its CCAP course
Two-year work-cum-study programme for graduate professionals April 26th, 2018 | Mumbai: CRISIL has signed a memorandum of understanding with the Indian Institute of Management Calcutta (IIMC) and The Second Wind (TSW), an initiative by Times Professional Learning, for its CRISIL Certified Analyst Programme (CCAP). Beginning, July 2018, CRISIL will be launching the 12th CCAP programme batch, this time with IIM Calcutta as the academic partner. The two-year work-cum-study programme is aimed at developing world-class finance professionals with deep analytical skills for CRISIL and industry at large. Its unique format combines 450 hours of learning (academic inputs), work assignments on live projects with classroom learning and interactive workshops, providing participants with exceptional financial and business skills, and making them organisation-ready. Selected candidates would be offered full-time employment at CRISIL and, upon completion of the programme, awarded a Post Graduate Certificate in Financial Analysis (PGCFA) from IIM Calcutta. "CCAP is our endeavour to provide holistic learning and work experience, and thorough grounding to young professionals, which will enable them to become world-class analysts," said Ashu Suyash, Managing Director & CEO, CRISIL. "The course offers them a unique platform for career growth through two years of intensive classroom coaching even as they work to solve real business problems. It's our privilege to have IIM Calcutta and TSW on board - they will add immense value to the course." Keeping in mind the skill gap problem faced in India, Ashok Banerjee, Programme Director, IIM Calcutta said, "We are extremely happy to be a part of this unique initiative along with CRISIL and TSW. The programme is specially crafted to provide a detailed understanding on the overall financial sector that majorly includes banking, economics and other financial markets which prepares participants with stronger foundation for their future." In all, 50 candidates will be selected through a stringent screening process. Accepted associates would study at the high-tech Learning Centres of TSW across India. Upon successful completion of the course, they will get absorbed in CRISIL as management trainees on very competitive terms. Said Anish Srikrishna, President, Times Professional Learning, "We at Times Professional Learning have always emphasized the importance of industry-academia confluence to shape relevant top talent. TSW, our executive education program, epitomises this philosophy with the CCAP programme that brings together the prestigious IIM Calcutta with CRISIL, one of India's premier employers in the financial services space. CCAP will help participants develop in-depth understanding of the financial services industry. The learnings and the growth path of the participants will be closely monitored to ensure each individual is able to grasp the contents of the course, in order to facilitate career progression." COURSE DETAILS: Post-Graduate Certificate in Financial Analysis (leading to CCAP) · Designed for graduates desirous of a meaningful career in the financial services industry · Opportunity to work for CRISIL, the leading, agile and innovative global analytics company, and learn from the best analysts in the business Eligibility criteria · Graduates with up to 2 years' work experience, keen to pursue a career in finance and credit analytics · Professionals looking for hands-on experience and deep understanding of data, research and financial analytics Admission process · Eligible candidates will have to take an online aptitude test and will be shortlisted based on their scores · Shortlisted candidates will be called for group discussion and personal interview For more details visit https://timestsw.com/CCAP or call 7400097486
Apr 26, 2018 - TSW
Rana Kapoor felicitated with 'India Talent Management Award 2018'
Recently a popular business news TV channel felicitated the persistent efforts of Rana Kapoor, MD & CEO, YES BANK towards fostering an entrepreneurial spirit and best practices at one of India's fastest growing banks. The 'India Talent Management Award' recognized the innovative strategy of the Bank to enhance the capability, capacity and confidence of the employees - to put them a step ahead in tomorrow's workplace and economy. The visionary leader strongly believes in empowering young Talent and as a CEO, he likes to play the role of Chief Mentor for bright young talent, handpicked to take up challenges and transform into future leaders. "Our comprehensive 'Leadership Development' approach ensures that there is suitable, customised intervention to massively multiply Leadership Capability and Capacity among the identified employees." he said on receiving the honor. For the workforce to succeed in these times of automation and digitization, he believes that there are three key elements crucial for success: i. A mindset to understand evolving customer needs and design near perfect products and services to match customer expectations ii. Continuously research on latest technology elements in different spheres and evaluate applicability to solve our customer's needs iii. Most importantly, having a framework to take these service innovations to the last mile The Bank has been among the first to institutionalize innovative Talent acquisition and retention programs across experience levels, with flagship initiatives such as Y-PEP (YES-PROFESSIONAL ENTREPRENEURSHIP PROGRAM). This programs aims at hiring management professionals directly from premier B-Schools in India and select foreign Universities. It continues to harness the power of today's youth with initiatives such as YES Transformation Series, a case study challenge offering students an opportunity to work on real-life challenges faced by the financial sector. The initiative was recently ranked as the 2nd best B-school challenge by Dare2Compete. Putting an emphasis on the need for sincere and honest communication, the CEO says that it is a trait which is often overlooked or at times leaders tend to over communicate. "You have to have a very high emotional quotient at your enterprise. This will make you realize that you can transform and build fantastic organizations." he adds.
Apr 13, 2018 - YES Bank
इंडसइंड बैंक का मुनाफा 29% बढ़कर 751 करोड़
इंडसइंड बैंक का मुनाफा दिसंबर क्वॉर्टर में 29 पर्सेंट बढ़ा है। इसकी लोन ग्रोथ मजबूत रही और अदर इनकम में बढ़िया बढ़ोतरी हुई। वहीं, नोटबंदी के चलते बैंक में काफी डिपॉजिट आया, जिससे उसकी लागत कम हुई। नोटबंदी से बैंक को कोई नुकसान नहीं हुआ। उसका मुनाफा दिसंबर तिमाही में बढ़कर 751 करोड़ हो गया। 9 एनालिस्टों के ब्लूमबर्ग पोल में बैंक का मुनाफा 725 करोड़ रहने की उम्मीद जताई गई थी। नोटबंदी का लोन पर असर: बैंक की लोन ग्रोथ 25 पर्सेंट बढ़ी है, जो बैंकिंग इंडस्ट्री की मौजूदा 5.1 पर्सेंट की एवरेज ग्रोथ का पांच गुना है। बैंक की कॉरपोरेट लोन ग्रोथ 25 पर्सेंट रही, जबकि व्हीकल लोन में 21 पर्सेंट की बढ़ोतरी हुई। इससे पता चलता है कि नोटबंदी का लोन की मांग पर असर नहीं पड़ा है। डिपॉजिट कॉस्ट कम हुई: नोटबंदी के चलते बैंक के पास 11,400 करोड़ का डिपॉजिट आया, जिससे उसकी फंड कॉस्ट में 0.2 पर्सेंट की कमी हुई। बैंक का नेट इंटरेस्ट मार्जिन 4 पर्सेंट पर बना रहा। नए ग्राहक बढ़े: इंडसइंड ने दिसंबर क्वॉर्टर में 1.33 लाख नए ग्राहक जोड़े, जिनकी संख्या सामान्य तौर पर 75,000-80,000 रहती है। बैंक के ग्राहकों ने क्रेडिट और डेबिट कार्ड का इस्तेमाल भी बढ़ाया है क्योंकि नोटबंदी के बाद कैश की कमी हो गई है। बैंक के डेबिट कार्ड से खर्च में चार गुना इजाफा हुआ है, जबकि मोबाइल बैंकिंग में साढ़े तीन गुना की बढ़ोतरी हुई। क्रेडिट कॉस्ट और रीपेमेंट: इस फाइनेंशियल ईयर के पहले 9 महीनों में बैंक की क्रेडिट कॉस्ट उसकी लोन बुक की 0.44 पर्सेंट रही। बैंक ने इसके 0.60 पर्सेंट से कम रहने का अनुमान दिया था। उसका नेट एनपीए 0.39 पर्सेंट के साथ स्टेबल बना हुआ है। दिसंबर तिमाही में जहां लोन डिफॉल्ट की आशंका थी, उसके उलट इंडसइंड के कई बकाएदारों ने तेजी से कर्ज चुकाया। इन लोगों ने पुरानी करेंसी से छुटकारा पाने के लिए ऐसा किया। यह भी बैंक के हक में रहा।
Mar 5, 2018 - Brandwire
2018 में भी एनपीए के सफाई अभियान में लगा रहेगा रिजर्व बैंक
भारतीय रिजर्व बैंक (RBI) के लिए 2018 समाप्त हो रहे साल 2017 तरह ही रह सकता है। केंद्रीय बैंक को नए साल में भी नीतिगत दरें और कम करने की मांग करने वालों का शोर सुनाई देता रहेगा। आरबीआई को मुद्रास्फीति काबू में रखने के लिए बराबर सतर्क रहना होगा और यह आलोचना आगे भी झेलनी पड़ती रहेगी कि केंद्रीय बैंक आर्थिक वृद्धि की जरूरत के लिए कुछ नहीं कर रहा। इनके अलावा बैंकिंग क्षेत्र का एनपीए अभी भी बहुत अधिक रहने की वजह से उसे 2018 में भी इसकी सफाई के अभियान में जुटे रहना होगा। दूसरे शब्दों में कहे तो भारतीय रिजर्व बैंक को लोकोक्तियों का उल्लू बने रहना चाहिए- जैसा कि आरबीआई के वर्तमान गवर्नर उर्जित पटेल ने कुछ साल पहले कहा था जब वह एक डेप्युटी-गवर्नर थे। उन्होंने कहा था, 'उल्लू पारंपरिक रूप से बुद्धि का प्रतीक है, इस लिए हम न तो कबूतर (न ही बाज) बल्कि हम उल्लू हैं और जब दूसरे लोग आराम कर रहे होते हैं तो हम चौकीदारी रहे होते हैं।' देश के बैंकिंग क्षेत्र में सकल गैर-निष्पादित परिसंपत्ति (एनपीए) यानी वसूल नहीं हो रहे कर्ज का अनुपात सितंबर तिमाही में 10.2 प्रतिशत बढ़कर खतरे के स्तर पर पहुंच गया और अगले साल इसी तिमाही में इसके बढ़कर 11 प्रतिशत होने की उम्मीद है। समाधान के नए उपकरणों विशेषकर कर्ज शोधन एवं दिवालिया संहिता को अभी तक सीमित सफलता मिली है और इसे आगे बढ़ाने के लिए अधिक ध्यान देने की जरूरत है। आरबीआई उन 40 बड़े खातों पर ध्यान केंद्रित करेगा जो 10,000 अरब रुपये के सकल एनपीए के 40 प्रतिशत के लिए जिम्मेदार माना गया है। एनपीए के विरुद्ध कार्रवाई में केंद्रीय बैंक को फिलहाल जिंदल स्टील ऐंड पावर और विडियोकॉन इंडस्ट्रीज जैसे प्रमुख कर्ज खातों को लेकर बैंकों से विवाद का सामना करना पड़ेगा। बैंक इन कंपनियों को दिए गए कर्ज को मानकों पर एनपीए नहीं बल्कि ठीक-ठाक खाता मानने पर जोर दे रहे हैं। मुद्रास्फीति को साधने में आरबीआई और उसके तहत गठित मौद्रिक नीति समिति (एमपीसी) के लिए यह साल मिश्रित परिणाम भरा रहा। समिति का यह पहला साल है।। 2017 में प्रमुख रीपो दर दो बार 0.25 प्रतिशत घटाई गई, जिसके चलते यह 6 साल के निचले स्तर 6 प्रतिशत पर आ गई। हालांकि आखिरी तिमाही में मुद्रास्फीति तेजी से बढ़ी और मार्च 2018 तक इसके चार प्रतिशत से ऊपर जाने की आशंका है। आरबीआई ने सकल घरेलू वर्धित (जीवीए) की वृद्धि दर के लक्ष्य को पूरे साल के लिए 7.4 प्रतिशत से घटाकर 6.7 प्रतिशत कर दिया है और आगामी मार्च तिमाही में इसके सुधरकर 7.5 प्रतिशत होने की उम्मीद जताई गई थी। एनपीए की मार जूझ रहे बैंकों को मजूबत करने के लिए सरकार ने सार्वजनिक बैंकों के लिए 2.11 लाख करोड़ के रीकैपिटलाइजेशन कार्यक्रम की घोषणा की थी और इसके लिए वह आरबीआई के साथ काम कर रही है। इसके अलावा राजकोषीय घाटा दूसरा क्षेत्र है, जिस पर ध्यान दिया जाना जरूरी है। देश का राजकोषीय घाटा 8 महीने में तय अनुमान से आगे निकल गया है। नवंबर महीने में राजकोषीय घाटा पूरे साल के अनुमान से आगे निकलकर 112 प्रतिशत हो गया है।
Feb 26, 2018 - Brandwire
एनबीएफसी कस्टमर्स के लिए लोकपाल लाएगा आरबीआई
नई दिल्ली रिजर्व बैंक ने गैर-बैंकिग वित्तीय कंपनियों (NBFCs) के कस्टमरों के लिए लोकपाल जैसा मेकेनिजम शुरू करने का ऐलान किया, जो इस महीने के आखिर तक वजूद में आ जाएगा। इससे इन वित्तीय कंपनियों से कर्ज लेने वालों को अगर कोई शिकायत है, तो वे सीधे अपने लोकपाल का दरवाजा खटखटा सकेंगे और इस तरह इनकी शिकायतों का जल्द निपटारा हो सकेगा। शुरू में इस योजना को सभी जमा स्वीकार करने वाले एनबीएफसी के लिए लागू किया जाएगा। वहीं, आरबीआई ने लगातार तीसरी मॉनिटरी पॉलिसी में अहम दरों में बदलाव नहीं किया। ऐसे में आपके नए लोन की ईएमआई तो कम नहीं होने जा रही। लेकिन जिन्होंने 1 अप्रैल 2016 से पहले कर्ज ले रखा है। उनके बेस रेट पर आधारित लोन को मार्जिनल कॉस्ट ऑफ फंड लेंडिंग रेट (एमसीएलआर) से जोड़ा जाएगा। इससे इनके लोन सस्ते होने के आसार हैं। ऐसे में रीपो रेट कम होने के फायदा इन्हें तुरंत मिलेगा। आरबीआई गवर्नर उर्जित पटेल ने कहा कि बैंक से कर्ज लेने वालों को ज्यादा फायदा मिले, इसके लिए 31 मार्च तक बैंक सभी कर्ज को एमसीएलआर से जोड़ने का काम पूरा करेंगे। लोन को एमसीएलआर से लिंक करने का फॉर्म्युला 1 अप्रैल 2016 से लागू हुआ था। मगर इससे पहले के लोन को बेस रेट से लिंक रखा गया था। हालांकि बैंकों ने प्रोसेसिंग चार्ज वसूलकर बेस रेट पर आधारित लोन को एमसीएलआर से जोड़ने की सुविधा दे रखी है। बैंक एक्सपर्ट एस. सी. चावला के मुताबिक, इस वक्त बैंकों के बेस रेट और एमसीएलआर रेट में लगभग एक फीसदी का अंतर है। जैसे ही लोन बेस रेट से हटकर एमसीएलआर से लिंक होगा तो बैंकों के लिए लोन की मार्जिनल कॉस्ट कम हो जाएगी, जिसका फायदा वे ग्राहकों को दे सकेंगे। RBI ने चेताया है कि अगले वित्त वर्ष में इन्फ्लेशन बढ़कर 5.6 पर्सेंट तक जा सकता है। महंगाई दर के अनुसार ही आरबीआई नीतिगत दरों पर फैसला लेगा।
Feb 19, 2018 - Brandwire
Beyond crunching the numbers and counting the beans
New technology is enabling financial professionals to focus on more creative and strategic roles. Patrick Zhu FCPA (Aust.) remembers his first job as an Executive Trainee at HSBC. The year was 1999, where most assignments were performed manually, and banking was almost exclusively an in-person experience. He recalls the firm's early e-banking services, where customers used modems and phonelines to connect to the internet and access accounts online. Browsing speeds were excruciatingly slow and connectivity was patchy, Zhu remembers. Much has changed since then. New technologies such as optical fibre connectivity have emerged, and the online experience has been transformed from a laborious and time-consuming exercise to one of convenience, with quick internet speeds in most places around the world. While internet banking has thrived over the past two decades, many other technologies have not. Such technologies, he says, simply became irrelevant to users - he reminisces about his two personal digital assistants, or PDAs, which became obsolete with the advent of the smartphone. "Technology exists to make people's lives better," says Zhu. "Technology is first and foremost about people, and how it helps individuals perform tasks quicker and easier." By embracing new technology, he adds, people can concentrate on more creative and strategic tasks. In ignoring it, they risk being left behind. Smart professionals and smart machines Today, Zhu is Managing Director and Country Head of Global Liquidity and Cash Management at HSBC China. Based in Shanghai, he previously held roles in other Chinese cities including Guangzhou and Hong Kong, and worked overseas in Indonesia and the Philippines. Technology, he asserts, underpins the role of bankers and accountants, irrespective of where they are based. Automation, in particular, is transforming their roles. Today, the managing of accounts receivable and accounts payable can be fully automated. Likewise, managing a company's cash positions and liquidity between various entities can be conducted autonomously - all of which might be centralised through a shared service centre; executed in real time; and overseen on a mobile device. No more spreadsheets to fill in. No more cheques to write. No more manual transfers between entities. Where might it all end, many ask. Fortunately, there is still much need for accountants and bankers. "Their role has been elevated from executor to supervisor, strategist and management advisor," says Zhu. Use of disruptive ledger technology, otherwise known as blockchain, to facilitate cross-border payments is a noteworthy development of late. Zhu enthuses how HSBC performed the world's first scalable live trade finance transaction using blockchain, alleviating the need for paper-based documents, and liaising between multiple parties from various countries and continents. Patrick Zhu FCPA (Aust.) Companies are also leveraging artificial intelligence and big data to forecast financial opportunities and challenges before they arise. Monitoring and controlling these highly sophisticated new tools are financial professionals, not scientists, he explains. Accountancy is a meeting between smart professionals and smart machines. Having knowledge of conventional practices, as well as the skills to manage new technologies, is a must for anyone entering the accounting profession today, Zhu says. Impediments to change Adjusting to new ways of working doesn't come easy for some organisations. For many working in new industries, adopting novel business models and instilling practises that meet these new needs is very challenging, Zhu says. Similarly, experienced professionals find it difficult to work with new technologies. It's not that they are unable to understand or manage these, but rather that they are reluctant to adapt. "People are afraid of big changes," Zhu observes. "They fear automation will make them redundant, when often it's an opportunity for them." The solution, he explains, is for management to encourage workers to upskill and embrace new technology - and continuing professional development, or CPD, can help companies and individuals master new technologies through various curricular and industry events. In addition, company management must instil processes that carefully transition the company from one way of working to another. A robust change management plan is essential for these exercises to succeed. Global best practices Key to advancing the accounting industry is alignment among professionals, irrespective of where they reside. CPA Australia plays an important role in realising this, Zhu says. Not only does the association provide an internationally recognised designation, it offers a wide range of curricula that enable members to learn about present-day business issues, including disruptive technologies. Zhu is particularly enthusiastic about networking opportunities: "Being able to connect with other members and learn from their personal experiences is critical to advancing our understanding of global trends, and overcoming common challenges." Residing in China, he gets the opportunity to share insights with overseas members that ordinarily neither party would be able to access. CPAs the world over agree that the role of an accountant is transitioning from mere financial practitioner to trusted, strategic counsellor. The days of simply crunching the numbers and counting the beans, per se, are by-and-large over for accountants. Being an accountant isn't just about crunching the numbers. Equip your team with an understanding of dynamic business issues, including emerging technologies. The CPA Program will improve your organisation's ability to adapt to and anticipate change in the global marketplace. This article was created by BBC StoryWorks, the commercial content division of BBC Global News, on behalf of CPA Australia.
Jan 21, 2019 - CPA Australia
The Web of Matchmaking
When it comes to marriage, Indian families have traditionally relied on the referrals route. The family's elders would fan out into their social network - the 'real' version, not digital - and, if required, enlist the services of a matchmaker to hit upon the right match based on the references of others who were considered reliable. This, of course, was considered a private and safe method but had its downsides as well - in terms of limited choice and control being in the hands of others. The online matchmaking revolution changed that to a large extent, so much so that India today is considered one of the fastest growing markets for online dating and matchmaking applications worldwide. It is, therefore, probably apt that in online, too, we are coming back to referrals as a preferred route for matchmaking as well as dating. The online matchmaking industry in India is now almost two decades old, and one big benefit it has brought is exponentially increasing the choices available to those seeking partners. Plus, the prospective groom or bride has much greater control over the final choice and outcome. The doors for online matchmaking opened in the country in 2001, with the launch of bharatmatrimony.com. Today, the platform boasts several regional language-based domains and an app, which is more of a private messenger for people listed on the website. Soon, portals like shaadi.com, jeevansathi.com, simplymarry.com, among others, followed suit and took online matchmaking to a different level. According to a Ken Research Report of 2016, India's online matchmaking industry revenues are set to touch $318 million by 2020. Jeevansathi.com, one of the biggest players in the segment, believes that growing internet penetration in Tier II and Tier III cities is good news for the sector, among other factors. "Education and financial independence of women is playing a big role in driving them to find a partner on their own," says a Jeevansathi spokesperson. "Finding a partner via the web route gives them an easier setting to objectively evaluate matches." The next stage of this evolution was brought in by the mobile phone, especially the smartphone, which not only made marriage-matching searches handier but also transformed the practice of dating. Dating apps such as Tinder and others boosted dating by making it more convenient and private. Tinder, the world's leading social app to meet new people, launched in India in 2016, and youngsters, particularly in the age group of 18-21, lapped it up. Soon, the space was flooded with names such as TrulyMadly, Woo, Okcupid, Azar, Badoo, Floh and very recently Bumble. And the spurt in the smartphone user base - estimated to touch 450 million users by 2020 - only fuelled the segment's growth. The pattern in using the apps may differ as per age groups but there has certainly been a steady increase in their user base. While most 18-21-year-olds get on an app just to make friends - particularly when moving to a new city to study or to work - those belonging to the 26+ age group are on the lookout for more serious relationships. However, the biggest pitfalls of online dating - whether through a PC or a mobile app - were security and safety, with many women being harassed on online dating sites/apps. Not surprisingly, the gender ratio is highly skewed in favour of males when it comes to online dating. A survey by Woo puts the ratio of male: female users of dating apps at 74:26. It is a crucial issue and companies servicing this segment are working toward solutions. Woo, for instance, says it keeps users' personal details confidential, analyses users' digital footprint to verify relationship status and professional information, uses algorithms to identify and cull out suspicious profiles, and enables women to call matched profiles without revealing their own phone numbers. "We take pride in putting women first and help like-minded people meet," says Sumesh Menon, Co-Founder & CEO of Woo. TrulyMadly, another player in the space uses a trust score for authenticity and gets the user Facebook-verified. Bumble, the latest entrant in the dating app space in India, will introduce a feature that will allow women to set their profiles to only show their first initial - no first or last name - and also report bad behavior. However, possibly the safest method of matchmaking or dating still remains the referrals route. So, dating apps looking to bring in the referrals mechanism in a scientific way is the new trend. For instance, Ponder, a dating app uses referrals from family members and close friends to help its users find the special one. "Ponder takes the intimacy of the traditional family introductions route, but opens it up for the 21st century to give singles greater choice and better control," says Manshu Agarwal, CEO, Ponder. "The internet and social media have given everyone a megaphone, creating even more noise. For people and companies seeking quality connections, referrals from trusted sources can help them cut through that noise to find the right partners." The underlying foundation of any relationship is trust, especially in potentially lifelong relationships. As we go into the future, online matchmaking looks certain to continue to grow at high speed but bringing in systems like referrals that leverage human trust are crucial for sustainable and safe growth.
Jan 18, 2019 - PONDER
The Economic Times India-UK Strategic Conclave to be held on Sept 11
Slated to be the 3rd largest economy by 2030, India possesses an abundance of opportunities to sustain, nurture and propagate two way flows of business and economic relations with the world. As a global investment destination of choice, India has emerged as an economic power of reckoning. However, in this macroeconomic scenario the country continues to face considerable challenges and barriers. Launched in January 2015, The Economic Times Global Business is the flagship initiative of the 175 year old Times Group. This landmark event endeavors to provide solutions to key macroeconomic challenges being faced across the globe and puts forth a blueprint for sustainable, inclusive economic growth. In a short span of 4 years, The Economic Times Global Business Summit has ascended to the position of the de facto arena for top CEOs, government officials, state heads, world influencers and the global elite to converge and deliberate on thought provoking issues relevant to scripting economic change. The intellectual heft, exchange of cutting-edge ideas and diversity that speakers bring to the Global Business Summit helps business leaders make sense of a complicated world to find actionable solutions to problems. The UK edition of this Summit, 'The Economic Times India-UK Strategic Conclave', focuses the theme 'New Economy, New Rules' and is scheduled to be held on September 11th in London, thus taking this highly sought-after platform onto the global arena and championing the cause of global economic integration. India and the United Kingdom have been close allies for a long time. The bilateral relationship between the two countries were upgraded to a strategic partnership in 2004, and were further strengthened by former PM David Cameron's visit to India in 2010 and 2013, and PM Modi's visit in 2018. Trade relations between the two countries have continued to flourish, with the recent visit of the PM Theresa May in November 2017 resulting in bilateral trade between India and the UK standing at $14 billion in FY16. Furthermore, UK's share in India's global trade has gone up from 1.89% in FY15 to 2.18% in FY16. The event will witness government and industry leaders take to the stage to speak and share their perspectives on issues of international significance. Some of our noteworthy speakers include Abhiraj Bhal, Co-Founder, UrbanClap Baroness Sandip Verma, Member, House of Lords, Ex - Parliamentary Under-Secretary of State for International Development, UK Bhavish Aggarwal, Co-Founder, Ola Cabs Gopichand P. Hinduja, Co-Chairman of Hinduja Group His Excellency Mr. Y.K. Sinha, High Commissioner of India to United Kingdom Lord Jitesh Gadhia, Parliamentarian, House of Lords Lord Bilimoria CBE DL - Founder, Cobra Beer and Chairman, Cobra Beer Partnership Madhur Deora, Chief Financial Officer, Paytm Manasi Kirloskar, ED, Kirloskar Systems Meghnad Desai, Emeritus Professor of Economics at the London School of Economics and Member, House of Lords Rana Kapoor, MD & CEO, Yes Bank Swapan Dasgupta, Member of Parliament and Presidential Nominee to the Rajya Sabha Vijay Goel, Founder, Indo-European Business Forum (IEBF) Neeraj Kanwar, Vice Chairman & Managing Director, Apollo Tyres Siddharth Lal, CEO, Eicher Motors Vindi Banga - Partner, Clayton Dubilier & Rice; Senior Independent Director on the Boards of GlaxoSmithKline Plc and Marks & Spencer Plc; Chairman, Marie Curie; Chairman, Kalle GmbH Speaking ahead of the event, Deepak Lamba, President, Times Strategic Solutions said, "In our increasingly connected world, the futures of economies are becoming more inter-dependent than ever before. Thus the ripple effect of events such as Brexit and fears of protectionism in developed economies can be felt in the furthest corner of the globe. We thus stand at a crossroad, with Brexit potentially creating unique opportunities for a 'win-win' situation, and it is thus imperative that India and the UK collectively work towards creating a brighter, more prosperous future for all as leaders of the world economy." The Economic Times India-UK Strategic Conclave will also witness the unveiling of the exclusive 'The Economic Times Game Changers of India' coffee table book. This book is as much about people as it is about the seminal ideas of our age. A few movers and shakers have not only shaped our present, but also determined the future course of action for us all. The ripple effects of the change initiated by these leaders have been felt within and beyond their respective fields. The Economic Times Game Changers of India coffee table book will chronicle the success stories of these leaders and will be launched at the India - UK Strategic Conclave. With some of the world's foremost business, government and though leaders calling it home, The Economic Times India-UK Strategic Conclave is poised to script a new chapter of economic change that will chart fresh growth paradigms for us all.
Aug 24, 2018 - ET Edge
Digital & regulatory evolutions have transformed the lending landscape
Lending an impetus to financial inclusion A recent report by BCG indicates that over the next five years, digital lending is an unmissable 1 trillion-dollar opportunity. This has been spurred on by lending undergoing a massive transformation, especially in developing economies that are likely to become data rich before being economically rich. India has been leading the charge in this transformation with its government initiatives like Aadhaar, Bharat Bill Payment System, India Stack, GSTN, and consent architecture to create a data-rich footprint for citizens and reducing the operational cost for provisioning financial products. Furthermore, it has been projected that the APAC region's middle class will span more than 3.5 people. Concurrently, this will create a demand growth 1000 times larger than that of the industrial era, which will result in strong and sustained economic growth in these regions. Reimagining legacy systems In the history of lending, the lower middle-class population was always considered less creditworthy by lenders due to lack of data or credibility for majority of potential customers. This was primarily due to knowledge asymmetry and the presence of legacy systems in the market. Banks and NBFCs will need to move towards high volume, low value transactions to cater to massive new demand and stay relevant in the market. They will need to enable data-driven decisions, which cannot be orchestrated on physical mediums due to massive cost & time incurred. The current legacy systems used by lending institutions also fail to achieve processing efficiencies due to lack of transparency and absence of data in a structured format. Lending institutions using legacy systems will need to completely redesign every aspect of their business and technology stack to power this change. Unfortunately, with the rise of emerging fintechs, banks and NBFCs have limited time to accelerate their businesses. Lending institutions that can't support digital and algorithm-driven lending in this changing landscape are mostly going to become obsolete. How can banks and NBFCs change the game? Banks and NBFCs need a new-age lending system that is agile, scalable and secure. A new age lending system can provide them with the flexibility to customize and personalize loan products tailored to the specific needs of a wide range of customers, leveraging their (customers') digital footprints to enhance credit decisioning. Kuliza's flagship lending product, Lend.In, combines Digital Origination Suite comprising of Omnichannel Workflow Manager, Digital Experience Manager, Credit Engine and Integration broker with its Operational Intelligence Suite comprising of Cognitive Data Hub, Early Warning Systems, Lending Analytics etc. to provide end-to-end lending solutions to automate any given business process while having a significant impact on both top-line and bottom line of enterprises. Lend.in enables banks and NBFCs to achieve the following: • Build the entire loan journey in a matter of days. • Define the workflow parameters with ZERO knowledge of coding, saving loads of effort. • Omnichannel origination and interaction integrated across mediums. • 70+ pre-integrations to enable straight-through processing of loans and also accelerating speed to market. • Data-driven AI-powered Early Warning Systems & Credit Decisioning. Lend.In will act as a catalyst for lending institutions enable digital and data driven lending, and in the process prepare them to be the market leaders in the future. To learn more about Kuliza's flagship product Lend.In, visit www.getlend.in and for more information about Kuliza, visit www.kuliza.com
Aug 20, 2018 - ET Edge
Amazing fortune making opportunities in the World’s Fastest Growing Economy: India
You don't have to be an economic pundit or anything at all to understand that India is set for an explosive growth. Several prominent and underlying events are on the verge of major developments that will trigger an impressive mind-boggling growth. However, only those who sow seeds now will make hay when the stock market shines- creating an enormous fortune. In my last Economic Times article, it was covered, how I discovered an elegant profit-making system that earned me 437%, 356%, 226%, jump in the stock prices even during the recession. Well, now when India is the fastest growing economy in the world, you won't have to take my words to believe that Indian stock market is waiting to hand you the bucket of profits. The only catch is your ability to pick up winning stocks. Are you ready to take maximum advantage of India's 70 years of rebounding economy? Just consider some of these following reports. The international monetary fund reaffirmed that India is the fastest growing economy with a growth rate of 7.6% which will rise to 8-9% in 2019-2020 Now that India is recovering from the effects of demonetization and GST, the Asia Pacific and regional outlook report says, this recovery is going to put India again at the top of its game. And as the economic projections are on target, research says, India is going to reach 6-7 trillion $ economy or more in the next 7 to 10 years. You see, it took 70 years for India to reach 2.7 trillion dollar economy. Now the same amount of wealth will be made in just 7 to 10 years. That's quite astonishing. Other countries like China doubled its economy in 5 years; the US took 10 years to rise from 2.5 trillion to 5 trillion. Your chance to get the Best of both the world - Rapid growth and high margin of safety Sources: New World Wealth Today India is the sixth wealthiest country in the world with a total wealth of $8,230 billion, while the US is the richest nation globally, says a report. It is also reported by 2025, India will overtake Germany and the UK to become the 4th largest wealth market worldwide. The question is, in this upward shift that virtually guarantees soaring profits, how much you will be able to grab and keep in your pocket. Naturally, if you pick up a few megatrends which are about to shape up in the next 5 to 7 years and invest wisely, you'll definitely cash in dramatic profits. Top wealth producing factors in India that can double, triple and quadruple your own growth India is the second most populated country in the world with more than 50% of its population below the age of 25 and more than 65% below the age of 35. This means an enormous workforce, consumption capacity, and demand. World Bank's latest "Doing Business Report 2018" suggests that for the first time ever India has jumped 30 positions to become the top 100th country in terms of ease of doing business. Foreign Direct Investment (FDI) in India increased by 4859 USD Million in April of 2018. FDI in India averaged 1308.71 USD Million from 1995 until 2018. There's an exponential all-time rise in many of the sectors. For instance; Most of Major Rating agencies have forecast domestic tractor industry to touch an all-time high sale in FY-18. The Indian automobile industry registered record sales last fiscal across passenger and commercial vehicles and two-wheeler segments. Commercial Vehicles segment grew by 19.94 percent in April-March 2018. Retail sector attracted Rs 9.5 billion investments in FY18, at a growth rate of 35 percent. The Fast Moving Consumer Goods (FMCG) sector in rural (accounts for 40 %FMCG markets in India) and semi-urban India is estimated to cross US$ 100 billion by 2025. Ranked third in the world in volume, the pharmaceutical sector is expected to grow at 15% every year. India has the largest growing electronics market in the world and is expected to grow to 41%CAGR from 2017-2020. is expected to grow by 15% every year. India has the largest growing electronics market in the world and is expected to grow to 41%CAGR from 2017-2020. Plus fast penetration of e-commerce, mobile, air conditioners and more in rural and semi-urban areas. I could go on and on and on. The point I am trying to make is, very shortly, India will see a cumulative effect of all these factors, shooting the growth curve almost straight up. But of course, people who start to invest today are going to experience growth by a tremendous margin. Best part there are so many current stocks including new undisclosed and out of favor stock which is on the verge of impressive growth. This simple secret can be your key to massive wealth India has over 51 million small and medium businesses in different sectors. These small businesses and sectors go big, like IT. Dozens of these small companies are on the verge of huge profit bonanza and have passed my tough fundamental screens with flying colors. Considering this, investing in these small companies that are expected to soar high will produce spectacular returns for you. And for many of these companies, the time is ripe. However, if you are offshore don't limit yourself opting for just 15-20 large companies, massive gains lies in onshore investment. Restore your long-term financial security and abundant retirement Structural reforms, exploding number of entrepreneurs, technological innovations, a rise in financial savings, good educational system, a vibrant informal sector, over 600 million young population and ever-rising consumption capacity has collectively turned India into one of the largest growth engines in the world. With a conservative 100-300% rise in many of the sectors I will not be surprised if post-2020, India will enjoy a double digits growth. In the next 5-7 years, many Stocks will explode in value. And today many of those stocks are selling at a significant discount to its true value. So it's absolutely crucial that you act now, there's no time to dilly-dally. You're going to have to move decisively. Many savvy investors have shifted their investments on shore as they realized that these stocks are not going to wait around. I see an utterly predictable, virtually unstoppable and absolute massive trend in front of me and I am sure anyone who picks up these trends will be filthy rich. Viidyes is MD and CEO at Archers Wealth Management Pvt. Ltd. (www.archerswealth.com). He is certified in financial market from the National Stock Exchange. In the last 12 years, Viidyes has engineered a system that has consistently yielded him Trading / Investment returns, earning him a small fortune. Recently Viidyes represented India in World Wealth Conference held at Singapore https://www.youtube.com/watch?v=DjlMg1zB4jo email@example.com to share his views on global and Indian economics.
Jul 27, 2018 - Archers Wealth
STATE FARM® LAUNCHES NEW ASIAN CREATIVE ACROSS MULTIPLE CHANNELS
NEW YORK, NY - AUGUST 1, 2018 - This summer, State Farm is releasing two new spots targeted at the growing U.S Asian market. Smart Living and Intuition, tell humorous stories that are built on cultural insights around Asian Americans tech savviness and family dynamics, featuring real State Farm agents as cast members. Along with broadcast, the creative is running in English and in-language across Asian print and digital platforms with the intent of generating positive associations that reach a wide demographic of Asian Americans. Smart Living, features a spooky twist that raises the question, "Can a Smart Home be too smart?" Smart living is also a way of life for most Asian Americans, who are among the first to embrace and adopt new technology. In the spot, a voice-controlled device, SAL, is a menace to an Asian American couple as he masterminds a series of comedic accidents. But with State Farm agent Amy on their side, the couple knows that State Farm is here to help life go right. Intuition takes the familiar story of parents-know-best and gives it a humorous Asian Indian cultural perspective. When parents come visiting, their advice doesn't always get the most enthusiastic response. In the spot, the parents' advice leads to comedic results and even unwanted accidents, but State Farm agent Anu has their back when things go wrong and is there to help life go right. "We are always looking for ways to build meaningful relationships with multicultural consumers through cultural insights," said Ed Gold, Advertising Director, State Farm. "This creative work strikes a balance of providing information while recognizing and respecting cultural nuances." José Suaste, Executive Creative Director at fluent360, State Farm's multicultural marketing agency in partnership with Admerasia, added, "We really wanted humor to drive these stories through a way in which our audiences could completely see themselves." "A fundamental part of the creative process was getting the team to write simplified scripts that allowed the talent some improvisational freedom. I'm really pleased with the final edit, but even the outtakes are hilarious," said Jeff Lin, Co-founder, Admerasia. About Admerasia: Since 1993, Admerasia has helped forward-thinking brands grow their businesses in the Asian American market and beyond. Our goal is to spark conversations between brands and customers that create diverse and compelling true stories. As an independent agency, or as part of a total market team, we provide our clients a direct line to share and adapt their story for diverse, influential and tech-forward communities. Admerasia works closely with its Omnicom partner, fluent360 to develop strategy, conceptualization, and executions for clients. For more information about Admerasia, please visit admerasia.com. About State Farm®: The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its nearly 19,000 agents and approximately 65,000 employees serve approximately 83 million policies and accounts - approximately 81 million auto, fire, life, health and commercial policies and approximately 2 million bank accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 36 on the 2018 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.
Oct 16, 2018 - State Farm Insurance
Policybazaar.com makes motor renewal a matter of few hours
New Delhi, July 31: If your motor insurance policy has lapsed, and you don't have time and energy to chase the insurer to get it revived, you don't have to fret any longer. Policybazaar.com, India's largest insurance website and comparison portal has launched the self-inspection video service which makes renewal of lapsed motor insurance a matter of few hours. The new feature allows consumers to overcome the hassle of physical inspection for lapsed motor insurance and makes renewal easier than ever. The feature is now available on PolicyBazaar website, www.policybazaar.com, and its mobile app. In India, for every 100 renewals, there are roughly about 30 of those for lapsed policies, and these require physical inspection of the vehicle and documentation, which takes anywhere between 2 to 5 working days. For those who live in rural or semi urban areas, or on the outskirts of a big city, the problem becomes even more serious because the inspection agents don't turn up even after fixing date and time, and customers keep waiting endlessly. Keeping in mind the larger cost and time effort involved in physical inspection and providing a one-stop service for different insurers, Policybazaar.com launched the self- inspect video feature on its app, which makes inspection and the related documentation a matter of few hours, and helps the lapsed policy renewed faster than ever. Insurers such as Kotak Mahindra General Insurance, Liberty Videocon General Insurance, Bharti Axa General Insurance and TATA AIG General Insurance have already joined hands with Policybazaar to underwrite lapsed motor insurance through this feature, subject to the video quality being up to their guidelines. Eight more insurers are expected to be on board soon. According to Policybazaar.com CEO Yashish Dahiya, "At Policybazaar, our customers come first, and we keep striving to make insurance buying process hassle-free. The launch of the self-inspect feature is one such step which helps both consumers as well as insurers." The Policybazaar App can be downloaded from Google Play store for android users. The App, which will also be available on iOS soon, functions well on any android phone operating on an OS version of 5.0 and having 4 MP or above camera. The self-inspection feature has a demo video to guide on how to shoot inspection video and upload the same, besides guidelines laid down by insurers that one needs to keep in mind before undertaking the self-inspection. "The self-inspect feature has been designed for the tech-savvy India where a majority of people use smart phones. The self-inspection requires a 360 degree video of the vehicle to be insured without any pause, a process that eliminates chances of any fraud. Through this feature, Policybazaar aims to save time and money of those who want their vehicles' insurance renewed without much difficulty," said Head of Motor Insurance, Policybazaar.com, Neeraj Gupta. To make use of the self-inspection feature, please keep in mind the following guidelines: The video should be taken in day light, and those done in a basement or under shade (for example, under a tree) are not valid. 360 degree view of the vehicle has to be captured in a single video clip without any pause and the vehicle shouldn't go out of the focus while the video is being shot. The video should include, either at the start or at the end, a copy of the car's RC (registration certificate) which is mandatory, and a copy of previous year's policy copy (if applicable).
Jul 31, 2017 - Policybazaar.com
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