Press Release - Indus App Bazaar curates apps to keep people informed and prepared

 

Indus App Bazaar curates apps to keep people informed and prepared

The idea is to keep everyone informed and help them up with the right tools to tackle emergencies in the wake of the pandemic

·        The curated pack includes apps such as 1MG, Practo, Bajaj Finserv, BigBasket, and Country Delight, among others

Delhi, May 13, 2021: Indus App Bazaar has curated a special category of featured apps under ‘COVID-19 Resources’ to equip people with the right information around solutions to tackle the ongoing pandemic. The category includes apps like 1 mg, Practo, BigBasket, Country Delight, Bajaj Finserv Health, and Paytm, to name a few.

Amid this global upheaval, people constantly lookout for solutions around health, finance, and essentials – the three key elements for sustenance. These are trying times for everyone, and Indus App Bazaar believes that humanity can serve as one of the greatest tools to weather this crisis. The availability of curated apps underlines the brand’s commitment to supporting people and helping them sail through the black swan event using the power of apps.

Speaking about the Covid-19 curation, Suniva Rawat, AVP, Marketing, Indus App Bazaar said, “India is grappling with COVID-19 and we wanted to make the discovery of use apps extremely easy. This curation has been done with the needs of Indians who are staying at home. This is especially useful for Indians who require assistance to go digital.”

Designed to help users discover new and trending apps in their preferred language, Indus App Bazaar houses over 400,000 apps in English as well as 12 Indian languages, including Hindi, Marathi, Gujrati, Tamil, and Bengali. Driven to support ‘Made in India’ and ‘Vocal for Local’ initiatives, this app store aims to address the needs of Indian consumers using local and linguistic content.

About Indus App Bazaar

Indus App Bazaar is a leading home-grown app-content-discovery platform that helps smartphone users consume apps & content in the language of their choice. Founded by three IITians, Rakesh Deshmukh, Akash Dongre, and Sudhir Bangarambandi in 2015, the company operates a full-fledged Android app store, known as Indus App Bazaar, which aims to cater to the next billion users with personalization, simplification, and localization. A slew of unique features that it offers includes no mandatory sign-in, AI-based personalization, and hyper-localized access to apps & content in 12 + 1 Indian languages. Today, Indus App Bazaar houses more than 400,000 apps and caters to over 100 million+ users across India.

Indus App Bazaar - https://www.indusos.com/indus-app-bazaar/

Press Release - INDIAN OVERSEAS BANK CONVENES EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

 

इण्डियन ओवरसीज़ बैंक Indian Overseas Bank

केन्‍द्रीय कार्यालय Central Office

चेन्नै Chennai - 600 002

 

INDIAN OVERSEAS BANK CONVENES EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS

 

Chennai, May 13, 2021: Indian Overseas Bank on 12.05.2021 convened an Extraordinary General Meeting of the Shareholders and obtained their approval for issuance of 246,54,23,932 equity shares to GOI on preferential basis for the Capital infusion of Rs. 4100 crores by GOI.  The EGM was conducted through virtual medium and was attended by Directors, Shareholders and other stakeholders of the Bank.

 

The issue price of equity share is Rs. 16.63 per share (including share premium of Rs. 6.63 per share). Out of Rs. 4,100 crore, an amount of Rs. 2,465.42 crore will be credited to Share Capital Account and Rs. 1,634.58 crore will be credited to Share Premium Account. Accordingly, the shareholding of Government of India will increase from 95.84% to 96.38%.

Press Release - Garmin India signs actor and serial exerciser Mandira Bedi as the brand ambassador for its smartwatches and accessories

 

Garmin India signs actor and serial exerciser Mandira Bedi as the brand ambassador for its smartwatches and accessories

 

The association with the famous celebrity will attract next-generation customers who are engaged in training and fitness

 

New Delhi, May 13, 2021: Pivoting towards strengthening the brand reach, Garmin India, a unit of Garmin Ltd. (NASDAQ: GRMN) today announced its association with the famous actor, television presenter and fitness coach Mandira Bedi as their brand ambassador.

 

The popular face of many TV shows, host of cricket matches and now an icon of fitness, Mandira Bedi, will be promoting Garmin smartwatches and accessories in India across the mediums of print, television, online as well as creating buzz on all social media platforms.

 

Speaking on the new brand association, Mr. Ali Rizvi, Director of Garmin India Pvt. Ltd. said, “Mandira bedi is not only a star icon but also an inspiration to many fitness enthusiasts and women globally. We are thrilled to have her on board with us and are confident that this partnership will strengthen our brand reach and encourage more people to choose a healthier lifestyle.”

 

Recently, On the occasion of International Women’s day, Garmin India, launched an incredibly small, smart and modern smartwatch - ‘Lily’ with exceptional features designed by women, for women. The smartwatch offers women’s health features, including menstrual cycle tracking and newly launched pregnancy tracking feature sharing the mother-to-be a snapshot of their pregnancy alongside their other health, wellness and activity data.

Thrilled to be a part of Garmin, fitness trainer and actor Mandira Bedi said, “Working out and staying fit is not only a passion but a choice of lifestyle. It’s an honour for me to be associated with Garmin- a brand that especially designs and manufactures its products to help fitness enthusiasts by providing the correct guidance and accurate data of their workouts. I am excited to represent a brand that shares the same zeal and passion as me. With their range of smartwatches, together we aim to reach out to more and more people to spread awareness on the need of a healthier lifestyle.”

 

Garmin offers smart wearables across price points with dedicated devices for golf, running, swimming and cycling activities amongst a range of other products. Currently, more than 13 models including Forerunner 45, 245, 745, 945, Garmin Instinct, Instinct Solar Series, Instinct Tactical, Fēnix 5X Plus, Fēnix 6, Fēnix 6 Solar series, Venu, Venu Sq, Vivomove 3, Vivoactive 3 element, Vivoactive 4, recently launched ‘Lily’ and many more products are available through Garmin’s online and offline channels pan India.

 

About GARMIN: Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Instinct and TracBack are registered trademarks, and Garmin Connect, Garmin Explore, and UltraTrac is a trademark of Garmin Ltd. or its subsidiaries. Wi-Fi is a registered trademark of the Wi-Fi Alliance.

Press Release - Vikram Solar commissions largest solar project at a single location in Uttar Pradesh

 

Vikram Solar Commissions Largest Solar Project at A Single Location in Uttar Pradesh

·         Expected annual energy yield: 200 MU/year

·         Expected number of houses to be powered 88,905/year

·         Expected CO2 reduction 4.57 tonnes/year

Chennai, 12 May, 2021: Vikram Solar, one of India’s leading module manufacturers and comprehensive EPC solutions & rooftop solar provider, announced the completion of an 85 MW solar plant project commissioned for National Thermal Power Corporation Limited (NTPC) at Bilhaur, Kanpur, Uttar Pradesh. Combining the latest 85 MW project at Bilhaur, UP with Vikram Solar’s recently commissioned 140 MW project for NTPC at the same location; the (85 MW+140 MW) 225 MW capacity project becomes the largest solar project in a single location in the state of Uttar Pradesh. The first part capacity of 70 MW out of 85 MW solar PV project was commissioned on 28^th March 2021 and we delivered NTPC 210 MW capacity project in the financial year 2020-21.

The 85 MW solar project is spread across 400 acres and used about 3.5 Lac numbers of Vikram Solar modules and includes a 33/132 kV switchyard. The expected energy yield of this project in Uttar Pradesh is 200 million units (MU). The plant is expected to reduce 4.57 tonnes of CO2 and can power 88,905 houses per year.

Mr. Saibaba Vutukuri, Chief Executive Officer, Vikram Solar, shared on the occasion, “It was an honour for us to partner with NTPC for this prestigious project. This project presented the opportunity to increase our contribution to India’s solar mission and we are proud to be chosen by NTPC to make such an effort.  NTPC is one of our oldest clients and we have been partnering in several of their solar projects. We are proud to say that we have a portfolio of commissioned and under-construction projects totalling ~708 MW with NTPC, as it identifies our commitment and focus towards customer centricity. We are hopeful of a continued journey with NTPC towards realizing the company’s green energy goals.”

With proven capacity to handle utility scale projects (225 MW cumulative capacity (140+85 MW) for NTPC Bilhaur, Uttar Pradesh, 200 MW for APGENCO in Andhra Pradesh, 130 MW for NTPC at Bhadla-Rajasthan, 80 MW for GIPCL at Charanka- Gujarat, 50 MW for NTPC at Mandsaur, Madhya Pradesh), innovative projects (India’s first floating solar), and airport installations (Kolkata, Calicut, Dibrugarh, Kochi, Gaya, Gondia) Vikram Solar is contributing to the growth of Indian solar revolution.

Vikram Solar’s annual PV module production capacity stands at 1.2 GW and the company has shipped over 3.1 GW PV modules globally. In addition to being a Tier-1* PV module manufacturer, the company is a PVEL LLC Top Performer and its modules are suitable for harsh environments in Europe, North America and Asia.

*Bloomberg NEF

 

About Vikram Solar:  Vikram Solar Limited (formerly known as Vikram Solar Pvt. Ltd.) is a leading solar energy solutions provider, specializing in efficient PV module manufacturing and comprehensive EPC solutions. With an international presence in 6 continents, the Company is an active contributor in shaping the solar revolution across continents. Carrying forward the extensive manufacturing experience of the Vikram Group, Vikram Solar, since 2006, is building on a 4-decade-old success story.

Vikram Solar’s annual PV module production capacity stands at 1.2 GW. The Company’s products comply with the international standards of quality, reliability and performance. As a fully forward- integrated Solar EPC solutions provider, Vikram Solar deploys world-class technology to design, install and commission solar projects worldwide.

Author Interview - Greg Rajaram of "The Greatest Game"

1.What motivates you to write?

I have been very passionate about reading since childhood. I have always surrounded myself with books and this ultimately motivated me to become an author. 

2. How did you feel after publishing your books?

The feeling was ecstatic as this was my first book and I worked hard for it.

3. Is there a specific reason for naming your novel?

The game of 'Love' is the greatest game that a living being can play and hence the name. 

4. Where do you write from? Do you go to some specific place, like beachside or the hills? 

I generally write within my study surrounded by books. Occasionally I would write in coffee shops for a change in environment. 

5. What inspired you to write the books(in general)? Any tales to tell…

I have worked in the field of artificial intelligence as an engineer and wanted to conceptualize what it would take to evoke artificial consciousness in a machine. 

6. What was your biggest learning experience throughout the writing process?

To know the exact reason why you are writing the book and let it be your motivation and guidance while writing. 

7. Looking back, what did you do right that helped you break in as a writer?

Writing a novel is a marathon and I did well to not lose motivation through the writing process. 

8. Any best piece of writing advice that you would like to share with new or struggling writers? 

Write from the heart and edit with the brain. 

9. Something personal about you people may be surprised to know?

I'm passionate about cricket and love playing the sport.

10.What other profession excites you the most?

Being an engineer, the field of technology and the impact it has on our lives excites me. 

11.Any special mention about your reader (be it with reviews/feedback or anything else)

The book discusses a lot of concepts from science, art, religion etc. I request the reader to read the book with an open mind. I would also very much appreciate it if readers left reviews for my book. They may reach out to me on my website as well (https://www.gregrajaram.com/)

12.Do you write the story at a stretch or you take your time to complete it? If you take a longer time, wouldn’t you be forgetting the story? How do you tackle it?

I took my time in writing the book. I revisited the book multiple times and did many edits to ensure there are no holes in the plot. 

Press Release - IDFC FIRST Bank’s Q4 FY21 financial results

 IDFC FIRST Bank’s Q4 FY21 financial results.

Key highlights:

·       PAT:  Rs. 128 crore in Q4-FY21 as compared to Net Profit of Rs. 72 crore in Q4-FY20. For the full year, PAT was Rs. 452 crore in FY21 as compared to loss of Rs. 2,864 crore in FY20.

·         NII: Grew by 15% YoY basis to reach Rs. 1,960 crore in Q4-FY21.

·         NIM%: 5.09% in Q4-FY21 as compared to 4.61% in Q4-FY20.

·         Total Income grew by 14% YoY basis to reach Rs. 2,801 crore in Q4 FY21.

·         CASA ratio: 51.75% as of March 31, 2021, as compared to 31.87% as of March 31, 2020.

·         Average CASA ratio: 50.23% as of March 31, 2021, as compared to 27.72% as of March 31, 2020.

·         CASA balance: Grew by 122% YoY basis to reach Rs. 45,896 crore.

·     Reduced Savings Rates: Bank reduced savings account interest rates to 4% for < 1 lac deposits and peak rates of 5%, effective May 1, 2021, because of surplus liquidity.

·         Bank started offering of Prime Home Loans to employees of top corporates starting at 6.9%.

·         Overall Customer Deposits: Rs. 82,725 crore (grew by 43% YoY, 7% QoQ).

·         Overall Funded Asset: Rs. 1,17,127 crore (grew by 9% YoY, 6% QoQ).

·         Retail Loan Assets: Rs. 73,673 crore (grew by 26% YoY excluding ECLGS, 11% QoQ).

·       Asset quality: GNPA and NNPA at 4.15% and 1.86% respectively (PCR at 56%). Including COVID provisions of Rs. 375 crs created in Q4-2021, the PCR would be 65%.

·         Restructured Book (approved & implemented) of the Bank stood at 0.9% of the overall funded assets.

·    Capital Adequacy Ratio: Strong at 16.32% including equity capital raised on April 6, 2021, with CET-1 ratio at 15.62%. Excluding the equity capital raise, the Capital Adequacy is reported at 13.77%, with CET 1 at 13.27%.

·         Average Liquidity Coverage Ratio (LCR): Average at 153% for Q4-FY21.

Chennai, 10,May 2021; V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, “Including the equity capital of Rs. 3000 crore raised through QIP on April 6, 2021, our overall capital adequacy is strong at 16.32%. We maintain high levels of liquidity with liquidity coverage ratio of 153%. We therefore approach FY 22 with strength and confidence.

Strong inflows from retail customers based on our strong brand, our excellent service levels, and strong product proposition has resulted in surplus liquidity at the Bank. Our CASA grew 122% last year and we reached a record CASA ratio of 51.75%.  We have therefore reduced our savings rates to as low as 4% and peak savings rates to 5%, effective May 1.

This reduction of savings rates to market benchmarks is a seminal moment in our journey as a Bank, as we will now be able to participate in the Prime Home loans market, which is largely to employees of top Corporates. The Bank has started offering prime Home loans at as low as 6.9%. This will set the Bank up for perennial growth with even better asset quality going forward.

Our home loan book grew strongly at 37% during FY21. Home loans is a large Rs. 25 lac crore market in India and home loans will continue to be our key business line going forward as well.

When COVID 1.0 struck in March 2020, we made necessary changes by restricting lending to COVID affected industries and by tightening credit norms accordingly. Thus the loans booked after June 2020 already factor in the COVID impact, and are in fact behaving better than pre-COVID bookings, adjusted for like-to-like vintage.

On the collections front, we’re happy to report that our collection efficiency for early buckets in March ‘21 reached 100% of pre-Covid (Jan- Feb 2020) levels. We will closely watch the impact of COVID second wave and deal with the situation accordingly. Our bounce back of collections to 100% when economic activity revived in H2 2021 demonstrates that our underlying portfolio quality is high and when the economy revives, customers do start repaying well again.

With accelerated digital initiatives, new product launches including credit cards, and significant investment in creating superior customer experience, the Bank is now on a strong footing to participate in the emerging opportunities of FY22.”