This launch will redefine banks’ operations with a competitive edge to grow exponentially and further the Digital India goal
Telugu super news, Mumbai, India, June 13th, 2024: Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product Financial Technology company for the world’s leading banking and insurance clients, announces the launch of the Intellect Digital Core for Cooperative Banks in India. This comprehensive, enterprise-grade banking technology suite is composed of eMACH.ai, the world’s largest open finance platform engineered by the ‘First Principles’ Thinking for financial institutions to design future-ready technology solutions. Drawing on the composable and contextual core banking technology that runs some of the world’s largest banks, Intellect brings the same expertise for cooperative banks as a Digital India initiative.
With three decades of domain expertise and ‘Design Thinking’ at our core, we have launched Intellect Digital Core, tailored for Cooperative Banks.
In the contemporary banking landscape, customers’ expectations have evolved, and they now demand digital front-end layers from the banks they engage with. This includes the ability to perform UPI transactions and leverage Internet banking services. It is imperative for cooperative banks to cater to the aspirations of the younger generation of customers by providing these value-added services. Intellect
Digital Core for Cooperative Banks enables them to embrace digital transformation and incorporate modern technologies to meet evolving customer demands and stay competitive. The enterprise-grade banking technology suite meets customers’ evolving needs in tier-2 and tier-3 cities.
Commenting on the launch, Ramanan SV, CEO-India & South Asia, Intellect Design Arena, said, “We are excited to bring Intellect Digital Core to revolutionise the way Cooperative Banks operate in India. Being made in India, we understand the patterns of the Indian market and the evolving demands and expectations of customers in Tier 2&3 cities. The technology is built on the ‘First Principles’ Technology Suite eMACH.ai, enabling the banks to become Digital Enterprise, thereby driving exponential growth. With a legacy spanning three decades and guided by an institutionalised Design Thinking approach, Intellect continues to reinforce its technology leadership in the financial technology space – this product specifically designed for Cooperative Banks is testimony to that.”
“With 12+ Industry-ready integrations available, banks can enjoy plug-and-play functionality to get started quickly and focus on what really matters – growing the business. Intellect Digital Core also supports a wide range of regional languages, ensuring the message is accurately conveyed to the target audience,” he added.
Telugu super news,April 20,2024:The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and year ended March 31, 2024, at its meeting held in Mumbai on Saturday, April 20, 2024. The accounts have been subjected to an audit by the statutory auditors of the Bank.
CONSOLIDATED FINANCIAL RESULTS:
The Bank’s consolidated net revenue grew by 133.6% to ₹ 807.0 billion for the quarter ended March 31, 2024 from ₹ 345.5 billion for the quarter ended March 31, 2023. The consolidated profit after tax for the quarter ended March 31, 2024 was ₹ 176.2 billion, up 39.9%, over the quarter ended March 31, 2023. Earnings per share for the quarter ended March 31, 2024 was ₹ 23.2 and book value per share as of March 31, 2024 was ₹ 600.8.
The consolidated profit after tax for the year ended March 31, 2024 was ₹ 640.6 billion, up 39.3%, over the year ended March 31, 2023.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended March 31, 2024
The Bank’s net revenue grew by 47.3% to ₹ 472.4 billion (including transaction gains of ₹ 73.4 billion from stake sale in subsidiary HDFC Credila Financial Services Ltd) for the quarter ended March 31, 2024 from ₹ 320.8 billion for the quarter ended March 31, 2023.
Net interest income (interest earned less interest expended) for the quarter ended March 31, 2024 grew by 24.5% to ₹ 290.8 billion from ₹ 233.5 billion for the quarter ended March 31, 2023. Core net interest margin was at 3.44% on total assets, and 3.63% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended March 31, 2024 was ₹ 181.7 billion as against ₹ 87.3 billion in the corresponding quarter ended March 31, 2023. The four components of other income for the quarter ended March 31, 2024 were fees & commissions of ₹ 79.9 billion (₹ 66.3 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 11.4 billion (₹ 10.1 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 75.9 billion, including transaction gains of ₹ 73.4 billion mentioned above (loss of ₹ 0.4 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 14.4 billion (₹ 11.3 billion in the corresponding quarter of the previous year).
Operating expenses for the quarter ended March 31, 2024 were ₹ 179.7 billion, an increase of 33.5% over ₹ 134.6 billion during the corresponding quarter of the previous year. Operating expenses for the quarter ended March 31, 2024 included staff ex-gratia provision of ₹ 15 billion. The cost-to-income ratio for the quarter was at 38.0%. Excluding certain transaction gains and the ex-gratia provision, cost to income ratio for the quarter was at 41.3%.
The credit environment in the economy remains benign, and the Bank’s credit performance across all segments continues to remain healthy. The Bank’s GNPA at 1.24% has shown an improvement over the prior quarter. The Bank has considered this as an opportune stage to enhance its floating provisions, which are not specific to any portfolio, but act as a countercyclical buffer for making the balance sheet more resilient, and these also qualify as Tier 2 Capital within the regulatory limits. Therefore, the Bank has made floating provisions of ₹ 109.0 billion during the quarter.
Provisions and contingencies for the quarter ended March 31, 2024 were ₹ 135.1 billion (including the floating provisions of ₹ 109.0 billion mentioned above). Provisions and contingencies, excluding the floating provisions, for the quarter ended March 31, 2024 were ₹ 26.1 billion as against ₹ 26.9 billion for the quarter ended March 31, 2023.
The total credit cost ratio (excluding the floating provisions mentioned above) was at 0.42%, as compared to 0.67% for the quarter ending March 31, 2023.
Profit before tax (PBT) for the quarter ended March 31, 2024 was at ₹ 157.6 billion. Profit after tax (PAT) for the quarter, after certain tax credits, was at ₹ 165.1 billion, an increase of 37.1% over the quarter ended March 31, 2023.
Balance Sheet: As of March 31, 2024
Total balance sheet size as of March 31, 2024 was ₹ 36,176 billion as against ₹ 24,661 billion as of March 31, 2023.
Total Deposits were at ₹ 23,798 billion as of March 31, 2024, an increase of 26.4% over March 31, 2023. CASA deposits grew by 8.7% with savings account deposits at ₹ 5,987 billion and current account deposits at ₹ 3,100 billion. Time deposits were at ₹ 14,710 billion, an increase of 40.4% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 38.2% of total deposits as of March 31, 2024.
Gross advances were at ₹ 25,078 billion as of March 31, 2024, an increase of 55.4% over March 31, 2023. Grossing up for transfers through inter-bank participation certificates and bills rediscounted, advances grew by 53.8% over March 31, 2023. Domestic retail loans grew by 108.9%, commercial and rural banking loans grew by 24.6% and corporate and other wholesale loans (excluding non-individual loans of eHDFC Ltd of approximately ₹ 807 billion) grew by 4.2%. Overseas advances constituted 1.5% of total advances.
Year ended March 31, 2024
For the year ended March 31, 2024, the Bank earned net revenues (net interest income plus other income) of ₹ 1,577.7 billion, as against ₹ 1,180.6 billion for the year ended March 31, 2023. Net interest income for the year ended March 31, 2024, crossed ₹ 1 trillion and was ₹ 1,085.3 billion, up 25.0%, over the year ended March 31, 2023.
Profit after tax for the year ended March 31, 2024 was ₹ 608.1 billion, up by 37.9% over the year ended March 31, 2023.
Capital Adequacy:
The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.8% as on March 31, 2024 (19.3% as on March 31, 2023) as against a regulatory requirement of 11.7%. Tier 1 CAR was at 16.8% and Common Equity Tier 1 Capital ratio was at 16.3% as of March 31, 2024. Risk-weighted Assets were at ₹ 24,680 billion.
DIVIDEND
The Board of Directors recommended a dividend of ₹ 19.5 per equity share of ₹ 1 for the year ended March 31, 2024. This would be subject to approval by the shareholders at the next annual general meeting.
NETWORK
As of March 31, 2024, the Bank’s distribution network was at 8,738 branches and 20,938 ATMs across 4,065 cities / towns as against 7,821 branches and 19,727 ATMs across 3,811 cities / towns as of March 31, 2023. 52% of our branches are in semi-urban and rural areas. In addition, we have 15,182 business correspondents, which are primarily manned by Common Service Centres (CSC). The number of employees were at 2,13,527 as of March 31, 2024 (as against 1,73,222 as of March 31, 2023).
ASSET QUALITY
Gross non-performing assets were at 1.24% of gross advances as on March 31, 2024, as against 1.26% as on December 31, 2023, and 1.12% as on March 31, 2023. Net non-performing assets were at 0.33% of net advances as on March 31, 2024.
SUBSIDIARIES
Amongst the Bank’s key subsidiaries, HDFC Life Insurance Company Ltd and HDFC ERGO General Insurance Company Ltd prepare their financial results in accordance with Indian GAAP and other subsidiaries do so in accordance with the notified Indian Accounting Standards (‘Ind-AS’). The financial numbers of the subsidiaries mentioned herein below are in accordance with the accounting standards used in their standalone reporting under the applicable GAAP.
HDB Financial Services Ltd (HDBFSL), in which the Bank holds an 94.6% stake, is a non-deposit taking NBFC offering wide a range of loans and asset finance products. For the quarter ended March 31, 2024, HDBFSL’s net revenue was at ₹ 22.9 billion as against ₹ 22.6 billion for the quarter ended March 31, 2023, a growth of 1.2%. Profit after tax for the quarter ended March 31, 2024 was ₹ 6.6 billion compared to ₹ 5.5 billion for the quarter ended March 31, 2023, a growth of 20.3%. Profit after tax for the year ended March 31, 2024 was ₹ 24.6 billion compared to ₹ 19.6 billion for the year ended March 31, 2023. The total loan book was ₹ 902 billion as on March 31, 2024 compared to ₹ 700 billion as on March 31, 2023, a growth of 28.8%. Stage 3 loans were at 1.90% of gross loans. As on March 31, 2024, total CAR was at 19.2% with Tier-I CAR at 14.1%.
HDFC Life Insurance Company Ltd (HDFC Life), in which the Bank holds a 50.4% stake, is a leading, long-term life insurance solutions provider in India. For the quarter ended March 31, 2024, HDFC Life’s total premium income was at ₹ 209.4 billion as against ₹ 196.3 billion for the quarter ended March 31, 2023, a growth of 6.7%. Profit after tax for the quarter ended March 31, 2024 was ₹ 4.1 billion compared to ₹ 3.6 billion for the quarter ended March 31, 2023, a growth of 14.8%. Profit after tax for the year ended March 31, 2024 was ₹ 15.7 billion compared to ₹ 13.6 billion for the year ended March 31, 2023.
HDFC ERGO General Insurance Company Ltd (HDFC ERGO), in which the Bank holds a 50.5% stake, offers a complete range of general insurance products. For the quarter ended March 31, 2024, premium earned (net) by HDFC ERGO was at ₹ 24.2 billion as against ₹ 21.3 billion for the quarter ended March 31, 2023, a growth of 13.7%. Loss after tax for the quarter ended March 31, 2024 was ₹ 1.3 billion, as against profit after tax of ₹ 2.1 billion for the quarter ended March 31, 2023. Profit after tax for the year ended March 31, 2024 was ₹ 4.4 billion compared to ₹ 6.5 billion for the year ended March 31, 2023.
HDFC Asset Management Company Ltd (HDFC AMC), in which the Bank holds a 52.6% stake, is the Investment Manager to HDFC Mutual Fund, one of the largest mutual funds in India and offers a comprehensive suite of savings and investment products. For the quarter ended March 31, 2024, HDFC AMC’s Quarterly Average Assets Under Management were approximately ₹ 6,129 billion, a growth of 36.3% over the quarter ended March 31, 2023. Profit after tax for the quarter ended March 31, 2024 was ₹ 5.4 billion compared to ₹ 3.8 billion for the quarter ended March 31, 2023, a growth of 43.8%. Profit after tax for the year ended March 31, 2024 was ₹ 19.5 billion compared to ₹ 14.2 billion for the year ended March 31, 2023.
HDFC Securities Ltd (HSL), in which the Bank holds a 95.1% stake, is amongst the leading broking firms in India. For the quarter ended March 31, 2024, HSL’s total revenue was ₹ 8.6 billion, as against ₹ 4.9 billion for the quarter ended March 31, 2023. Profit after tax for the quarter was at ₹ 3.2 billion, as against ₹ 1.9 billion for the quarter ended March 31, 2023, a growth of 64.2%. Profit after tax for the year ended March 31, 2024 was ₹ 9.5 billion compared to ₹ 7.8 billion for the year ended March 31, 2023.
Telugu super news,National,April 18,2024: Share.Market, a PhonePe product, today announced the launch of its Futures and Options (F&O) segment. This addition marks a significant milestone in the platform’s mission to empower traders with comprehensive trading tools and resources which will facilitate an enhanced trading experience with a dedicated focus on the Intelligence layer.
Within seven months of the launch of the business, total Share.Market lifetime customers are over 1.55M with over 1.4M monthly active MF SIP transactions. In addition, Share.Market has been able to provide access to Intelligence to over 75,000+ users (daily app engagement) with 1.5L demat accounts.
The introduction of F&O capabilities on Share.Market enhances the platform’s offerings, with a comprehensive Option chain analysis to track Options. Futures and Options contracts across various Indices and Stocks play a role in Investor and Trader journey to manage risk, hedge positions, and enhance the overall return profile through efficient portfolio management. To bring more Intelligence, trader focused data points around greeks and strategy building with effective money management will be rolled out.
Key features of the F&O offering include:
Robust Trading Interface: A user-friendly interface designed to streamline the trading process, enabling Traders to execute F&O trades with ease and efficiency. Effective risk management capabilities around tracking and managing orders includes optimal capital allocation and timely exits.
Evolving Intelligence layer: Enhanced Option Chain with Max Pain, Put Call Ratio (PCR) and easy visualization of Open Interest (OI) change, together with charting capabilities of individual Future and Option instruments has been launched. Many more features around hedging, mechanics for strategy selection, building blocks behind strategy execution and management are all in the pipeline.
Leveraging Pledge for Margin Trading: For seasoned traders, there is an option of getting collateral margin through pledging of existing holdings.
Educational resources: Along with an Intelligence layer on the platform, augmenting with access to educational resources, tutorials, and webinars to help traders deepen their understanding of F&O trading strategies and concepts.
Talking about the launch of F&O, Ujjwal Jain, CEO, Share.Market said, “As Investors and Traders empower themselves to Invest and Trade better, Share.Market has been able to take the ambitious steps to elevate Discount Broking powered by Intelligence.” He further added, “With the launch of Futures and Options trading to our platform, we are further expanding our suite of offerings. This addition will further strengthen our efforts to empower investors and traders with the tools and resources they need to navigate today’s dynamic financial markets.”
The launch of the F&O feature underscores Share.Market’s dedication to innovation and customer-centricity. By continuously enhancing its platform with new features and capabilities, Share.Market remains at the forefront of the industry, catering to the evolving needs of investors and traders.
Launched in August end 2023, Share.Market elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and a great customer experience for investors and traders alike. It provides a wide spectrum of investment products allowing investors across different demographics to build a well-rounded and balanced portfolio. Share.Market offers stocks (intraday and delivery), Exchange-Traded Funds (ETFs), Mutual Funds, and WealthBaskets.
Telugu super news,National, April 8th,2024: The Singapore Tourism Board (STB) and PhonePe have entered a two-year Memorandum of Understanding (MoU). At a signing ceremony held on the morning of Wednesday, April 3rd, STB’s Chief Executive, Melissa Ow, and Ritesh Pai, Chief Executive Officer, International Payments Business for PhonePe , formally signed the MoU. This collaboration builds upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which allows customers to instantly make cross border transaction between the two countries directly from their existing Indian bank accounts.
As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India and Singapore, to promote the destination’s vibrant offerings and seamless UPI experiences across key tourism hotspots.
This strategic milestone – the first of its kind between a destination and a UPI payments platform – underscores the shared commitment of STB and PhonePe to add value to the overall experience of travellers exploring the vibrant city of Singapore by making it possible for them to use familiar services like UPI payments during their stay. As one of the most vibrant urban destinations in the region, Singapore is well known for its iconic landmarks and rich heritage precincts, each with its own charm. With a host of extraordinary retail, culinary, and adventure hot spots that await every traveller, this move will further unlock seamless exploration of Singapore’s diverse attractions and offerings that has attracted Indian travellers.
Melissa Ow, Chief Executive, Singapore Tourism Board, said: “We are excited to announce our alliance with PhonePe, a leading Fintech player in India. This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers. By seamlessly integrating Singapore’s exceptional offerings into the digital realm, our goal is to streamline payments across the traveller’s experience and promote curated deals, from attractions and retail to dining and nightlife. This initiative reflects STB’s commitment to innovation and customer-centricity in the travel industry.”
Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said: “Singapore is a dynamic destination with unique offerings that are well appreciated and celebrated among Indian travellers. Partnering with STB will facilitate ease of transactions for PhonePe users who now can just pay directly from their existing bank account by scanning a QR code when visiting the island-city.”
తెలుగు సూపర్ న్యూస్,హైదరాబాద్, ఏప్రిల్ 5, 2024: నాన్ బ్యాంకింగ్ ఫైనాన్షియల్ కంపెనీ (ఎన్బీఎఫ్సీ) గ్రీవ్స్ ఫైనాన్స్ లిమిటెడ్ హైదరాబాద్లో “evfin”అనే తన అద్భుతమైన ఫైనాన్షియల్ ప్లాట్ఫాంను ప్రారంభించింది. ఎలక్ట్రిక్ మొబిలిటీ, ఇతర సుస్థిర పరిష్కారాలకు అంకితమైన భారతదేశపు మొట్టమొదటి కన్స్యూమర్ ఫైనాన్స్ లెండింగ్ ప్లాట్ఫాం ఇది. అధునాతన డిజిటల్ సూట్, సృజనాత్మక ఆస్తుల నిర్వహణ పరిష్కారాల మద్దతు దీనికి ఉన్నాయి.
ఎలక్ట్రిక్ వాహనాలకు క్రమంగా పెరుగుతున్న ఆదరణ నేపథ్యంలో.. ఈ మార్పును మరింత వేగవంతం చేయడానికి, వినియోగదారులకు ఎలక్ట్రిక్ వాహనాల వినియోగం, దాని జీవితకాలం గురించి పూర్తిస్థాయి సమాచారం అందించడం చాలా ముఖ్యం. ఈ విషయంలో “evfin”అపూర్వమైన వినూత్న అనుభవాలను అందిస్తుంది. ఈ సూట్ వల్ల ఈవీ మీ చేతిలో ఉన్నన్నాళ్లూ మెరుగైన ప్రయాణం అందేలా నిర్ధారిస్తుంది. వినియోగదారులకు అందుబాటు, తక్కువ ఖర్చుతో కూడిన ఫైనాన్సింగ్ ఆప్షన్స్ అందిస్తుంది. ఎలక్ట్రిక్ మొబిలిటీ వైపు మార్పును వేగవంతం చేయడానికి, ఈ సరికొత్త ఆర్థిక చొరవను స్వీకరించిన నగరాల జాబితాలో హైదరాబాద్ చేరింది.
ఈ ఏడాది ప్రారంభంలో భారతదేశంలోని ప్రముఖ ఎలక్ట్రిక్ ద్విచక్ర వాహన తయారీదారుల్లో ఒకటైన ఏథర్ ఎనర్జీతో “evfin”తన భాగస్వామ్యాన్ని ప్రకటించింది. గ్రీవ్స్ నుంచి ఆంపియర్, హీరో మోటార్ కార్పొరేషన్ నుంచి విడా, ఓలా ఎలక్ట్రిక్, ఇంకా మీ నగరంలోని టీవీఎస్ ఐక్యూబ్ లాంటి అన్ని ప్రముఖ ఈవీ టూ వీలర్ ఓఈఎం డీలర్షిప్లలో కూడా “evfin” ఆఫర్లు అందుబాటులో ఉన్నాయి.
ఈవీఫిన్ వినియోగదారులకు వారి వ్యక్తిగత అవసరాలు, ప్రాధాన్యతలను తీర్చడానికి అనుకూలంగా ఉండే విభిన్న శ్రేణి ఫైనాన్సింగ్ పరిష్కారాలను ప్రత్యేకంగా అందిస్తుంది. ఎలక్ట్రిక్ వాహన యాజమాన్య అనుభవాన్ని విప్లవాత్మకంగా మార్చడం, కొత్త ఈవీ యజమానులకు సౌలభ్యం, ఆకర్షణను పెంచడం లక్ష్యంగా పెట్టుకుంది.
బైబ్యాక్, అప్ గ్రేడ్ పై ప్రధానంగా దృష్టి సారించి, విభిన్న రకాల అవసరాలు, ప్రాధాన్యతలకు అనుగుణంగా రూపొందించిన క్యూరేటెడ్ ఫైనాన్సింగ్ పథకాలను యాక్సెస్ చేసుకునే ప్రత్యేక సౌలభ్యం ఈవిఫిన్ వినియోగదారులకు ఉంటుంది.
అతి తక్కువ వడ్డీ రేట్ల కోసం చూస్తున్న వారికి జిప్.ఫిన్, పర్యావరణ అనుకూలంగా, చౌకగా ఉండాలనుకునే వారికి ఎకో.ఫిన్, భరోసాతో కూడిన బైబ్యాక్ ఆప్షన్లతో సాంకేతిక పరిజ్ఞానం ఉన్న ప్రారంభ వినయోగదారులకు స్మార్ట్.ఫిన్, తక్కువ ఈఎంఐల కోసం చూస్తున్న రోజువారీ ప్రయాణికులకు రైడ్.ఫిన్, భరోసా కోరుకునే వారికి రక్షణ.ఫిన్ వంటి ఆప్షన్లు “evfin” ఉన్నాయి. ఈ ఎంపికలు కొంతమందికి వారి ఆర్థిక లక్ష్యాలు, మొత్తం మానసిక ప్రశాంతతకు ఏది బాగా సరిపోతుందో ఎంచుకోవడానికి అనుమతిస్తాయి.
ఎలక్ట్రిక్ వాహనాల కొనుగోళ్లను పరిగణనలోకి తీసుకునేటప్పుడు వినియోగదారుల ఆందోళనలను పరిష్కరించడానికి రూపొందించిన వినూత్న విధానం, ప్రత్యేక ఫీచర్లు, సేవల ద్వారా ఎలక్ట్రిక్ ఫైనాన్సింగ్ కాస్త విభిన్నంగా ఉంటుంది. వారి ఆందోళనలను పరిష్కరించడానికి, వ్యక్తిగత అవసరాలు, పరిస్థితుల ఆధారంగా కస్టమ్ సిఫార్సులను అందించే “సహాయక కొనుగోలు” ను అందించాలని ఈవీఫిన్ ప్రతిపాదిస్తుంది. ఈ వ్యక్తిగతీకరించిన మార్గదర్శకత్వం వినియోగదారులకు ఈవీ కొనుగోళ్ల విషయంలో గణనీయంగా సహాయపడుతుంది. ఇందులోని ప్రొటెక్షన్ ప్లాన్స్ వల్ల అదనపు వారంటీలు, లాక్డ్ ఇన్ రీసేల్ ధరలతో పాటు వినియోగదారులకు తమ ఈవీ తన విలువను అలా కొనసాగిస్తుందన్న విశ్వాసం లభిస్తుంది.
“evfin”, ఎథర్ ఎనర్జీ మధ్య భాగస్వామ్యం దేశం హరిత, సుస్థిర భవిష్యత్తు వైపు వెళ్లేలా చేస్తుంది. ఎలక్ట్రిక్ మొబిలిటీ స్వీకరణను వేగవంతం చేయడంలో వారి నిబద్ధతకు ఇది నిదర్శనం. ఈ సహకారం ఈవీ యాజమాన్యాన్ని సులభతరం చేస్తుంది, పరిశుభ్రమైన వాతావరణానికి దోహదం చేస్తుంది.
Telugu super news, National, April 32024: PhonePe today announced a partnership with Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option. With this partnership, PhonePe users will now be able to avail of ‘Star Comprehensive Insurance Policy’ on the PhonePe app with coverage up to Rs.1 Crore. Having previously disrupted the market with its motor insurance products, with this launch, PhonePe further expands the options available to its users in the health insurance category.
Through this partnership, for the first time, Star Health Insurance’s Comprehensive Health Insurance will be offered to customers with a monthly premium payment plan, pioneered by PhonePe – a first-of-its-kind initiative in the industry. Users can also opt to pay their premium with the UPI AutoPay mandate and enjoy added convenience. This move was driven by a critical insight that smaller monthly payments ease the financial burden for users while empowering and enabling them to opt for more extensive insurance coverage without stretching their finances.
Star Comprehensive Insurance Policy is a power-packed insurance plan with benefits including the most popular OPD and maternity coverage. Market research conducted with PhonePe’s user base indicates that these two features were the most preferred by customers while buying health insurance. Star Comprehensive Health Insurance Policy is an end-to-end health insurance policy with sum insured available up to Rs.1 crore. The policy covers road ambulance and air ambulance expenses, out-patient medical consultation up to the limits, out-patient coverage for dental and Ophthalmic treatment, delivery expenses, organ donor expenses, provides coverage for newborn babies, including any congenital disorders, from day one of birth and vaccination expenses of the new born until the baby completes one year. Mental well-being is covered up to the sum insured. The policy does not impose sub-limits for day care procedures. Accidental death and permanent total disablement is covered up to 1 crore.
Star Comprehensive Health Insurance Policy also offers wellness programmes that provide discounts on premiums and condition management programmes. Furthermore, the policy provides an annual health check-up, automatic restoration of the sum insured up to 100%, and a cumulative bonus, payable up to 100% of the basic sum insured.
Speaking on the partnership, Vishal Gupta, CEO of PhonePe Insurance said “PhonePe is excited about this partnership with Star Health. Star’s differentiated benefits combined with PhonePe’s distribution, customer centric approach and simple DIY journeys will help turbocharge insurance adoption and penetration in the country. We are on a mission to help turn India from an underinsured nation to one that is adequately insured and view this partnership with Star as a crucial milestone in this journey.”
Speaking on the partnership, Anand Roy, MD and CEO of Star Health Insurance, said, “We are excited to partner with PhonePe and offer health insurance targeted at Gen Z and Millennials since people in that group are digital natives. The partnership between Star Health Insurance and PhonePe will provide consumers with a hassle-free payment option that is light on the pocket and at the same time meets their wellness needs. Today, health insurance has become a necessity. Given the high medical inflation in the country, it has become crucial to have an all-inclusive health cover that can protect at every stage of an individual’s life. At Star, we believe in keeping our customers healthy, and towards that end, customers buying our policies will not just get insurance but will also have access to free teleconsultations, homecare, and nutritionists, among other services. We look forward to expanding our digital reach through this partnership.”
Users can purchase the policy via the PhonePe app by clicking on the Health Insurance option, selecting the members to be insured, the desired sum to be insured and the payment tenure. Here, they can choose either monthly EMIs or annual payments and then select the policy of their choice. Once they opt for the policy, the customer’s have to fill in their details, such as name, age, and gender, followed by the health history of all members to be insured. This will be followed by a regulator mandated Know Your Customer (KYC) form and declarations, once the payment is completed.
Star Health, in association with PhonePe, plans to roll out more such innovative offerings across its indemnity and benefit products.
హైదరాబాద్:03rd April 2024: దేశీయంగా చేసిన బయో బెవరేజెస్ శ్రేణిని బయో ఇండియా సంస్థ అధికారికంగా హైదరాబాద్ మార్కెట్లోకి ప్రవేశపెడుతున్నట్లు ప్రకటించింది. బంజారాహిల్స్లోని తాజ్ డెక్కన్ హోటల్లో జరిగిన కార్యక్రమంలో బయో బెవరేజెస్ ఆవిష్కర్త డాక్టర్ శ్రీనివాస్ అమర్నాథ్ మాట్లాడుతూ, తమ ఉత్పత్తులు సింథటిక్ రుచులు, రంగులు లేని సహజ సుగంధాలతో ఉంటాయని, సాంప్రదాయ ఉత్పత్తులతో పోలిస్తే అదే శాతంలో మత్తు ప్రభావాలను అందిస్తాయన్నారు. రెండు దశాబ్దాల నైపుణ్యం R & D నుండి వీటిని కానుకొన్నామని, డాక్టర్ శ్రీనివాస్ అమర్నాథ్ వివరించారు. బయో బెవరేజెస్ యొక్క ఫ్రాంచైజీ అయిన VSS బెవరేజెస్ ద్వారా బయో బెవరేజెస్ ఉత్పత్తులను తెలంగాణలో తయారు చేసి విక్రయిస్తున్నారు. టుడే’స్ స్పెషల్ బయో విస్కీ, డైలీస్ స్పెషల్ బయో బ్రాందీ మరియు వైల్డ్ ఫాక్స్ విస్కీ ప్రస్తుతం తెలంగాణ రాష్ట్రంలో అందుబాటులో ఉన్న బ్రాండ్లు. “బయో బెవరేజెస్ ఏ సింథటిక్ రుచులు మరియు రంగులను ఉపయోగించకుండా ఉత్తమ బొటానికల్స్, హై క్వాలిటీ స్పిరిట్స్, మాల్ట్ మరియు బయో ఆల్కలాయిడ్స్తో తయారుచేయబడ్డాయి. నేను ప్రపంచంలో వినియోగదారుల ఎంపికను దృష్టిలో ఉంచుకుని మొదటిసారిగా బయో లిక్కర్ ను అభివృద్ధి చేసాను, అని డాక్టర్ శ్రీనివాస్ అమర్నాథ్ వివరించారు”
శ్రీ వేంకటేశ్వర విశ్వవిద్యాలయం నుండి ఉత్తమ వైద్యుడు మరియు వృక్షశాస్త్రజ్ఞుడు (Botanist), ఇందిరాగాంధీ ప్రియదర్శిని ప్రెసిడెంట్ అవార్డ్స్ తో సత్కరించబడిన డాక్టర్ శ్రీనివాస్ అమర్నాథ్ మాట్లాడుతూ, మద్యపాన సంబంధిత వ్యాధులతో బాధపడుతున్న రోగులను తాను తరచుగా చూస్తుంటానని, మరియు బయో బ్రాండ్స్ ను రూపొందించడానికి అమెరికా మరియు వివిధ దేశాలలో ఎన్నో సంవత్సరాలు రిసెర్చ్ చేసి, అమెరికా లో ఫెడరల్ గవర్నమెంట్ చే అప్రూవల్ పొంది బయో బెవరేజెస్ ని కనిపెట్టడం లో విజయం సాధించామని అన్నారు. మన భారత దేశం లో వివిధ రాష్ట్రాల్లో బయో బెవరేజెస్ కస్టమర్లకి అందుబాటులో ఉన్నాయని డాక్టర్ శ్రీనివాస్ అమర్నాథ్ తెలిపారు” తెలంగాణ ఫ్రాంచైజీ VSS బెవరేజెస్ యొక్క ఆపరేషన్స్ మేనేజర్ శ్రీ ప్రదీప్ మాట్లాడుతూ, “వివిధ రకాల బ్రాండ్లకు వినియోగదారులు ప్రాధాన్యతనిస్తూ అత్యంత వేగంగా అభివృద్ధి చెందుతున్న మార్కెట్లలో తెలంగాణ ఒకటి. వినియోగదారుల ప్రాధాన్యతలను దృష్టిలో ఉంచుకుని, మేము మా మొట్టమొదటి BIO బెవరేజెస్ శ్రేణి ఉత్పత్తులను పరిచయం చేసాము, తెలంగాణ మాకు కీలకమైన మార్కెట్గా ఉన్నందున, ఈ అద్భుతమైన ఆవిష్కరణను తెలంగాణ కు అందించడానికి మేము చాలా సంతోషిస్తున్నాము. అని ఆయన వివరించారు.
సంస్థ మేనేజింగ్ డైరక్టర్ శ్రీనివాస రాయలు మాట్లాడుతూ.. ఇటీవల యూఎస్లో నిర్వహించిన ఓ కార్యక్రమంలో బయో బెవరేజెస్ ప్రశంసలు అందుకున్నాయన్నారు. పరిశోధన, అభివృద్ధి, మార్కెటింగ్లో గణనీయమైన పెట్టుబడులు పెట్టడం, ప్రపంచవ్యాప్తంగా పరిశోధన మరియు అభివృద్ధి కోసం ప్రపంచ వ్యాప్తంగా సుమారు 10 మిలియన్ డాలర్లు ఖర్చు చేసినట్టు ఆయన వివరించారు. బయో పురస్కారాలు – వైన్ అండ్ స్పిరిట్స్ హోల్సేలర్ ఆఫ్ అమెరికా స్పిరిట్స్ టేస్టింగ్ పోటీల్లో 75 వ వార్షిక కన్వెన్షన్ & ఎక్స్పోజిషన్లో రజతాన్ని సాధించింది. -యూఎస్ఏలో వైన్, స్పిరిట్స్ హోల్సేలర్స్ నుండి స్పిరిట్ టేస్టింగ్ పోటీలో విజేత. బయో విస్కీకి ది సిల్వర్ అవుట్స్టాండింగ్ -విస్కీస్ ఆఫ్ ది వరల్డ్ అవార్డు లభించింది. -బార్టెండర్ స్పిరిట్స్ & అవార్డ్స్లో బయో డిలైట్ రమ్కు సిల్వర్ లభించింది. -బార్టెండర్ స్పిరిట్స్ & అవార్డ్స్లో బయో క్లబ్ వోడ్కాకు డబుల్ గోల్డ్ లభించింది.
Telugu super news,National, March 28, 2024: PhonePe App users traveling to the UAE can now make payments using UPI at Mashreq’s NEOPAY terminals, available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. They simply need to scan the QR code for seamless and rapid payments. These transactions are facilitated by the Unified Payments Interface (UPI). The account debit will occur in INR, showing the currency exchange rate.
Additionally, NRIs with UAE mobile numbers can also download the PhonePe App and link their existing NRE and NRO accounts to facilitate payments. This aims to enhance the ease and convenience of transactions for the Indian diaspora in the UAE.
This collaboration is facilitated through Mashreq’s partnership with NPCI International Payments Limited (NIPL). Through this partnership, Mashreq has enabled NEOPAY terminals to accept UPI apps as a payment instrument, thus allowing Indian travelers to conveniently use UPI for transactions.
This strategic alliance combines PhonePe’s cutting-edge technology with Mashreq’s commitment to incorporate best-in-class tech and innovation in their operations. It will play a vital role in providing a superlative customer experience at NEOPAY terminals.
Speaking on the partnership Ritesh Pai, CEO International Payments, PhonePe said, “We are thrilled to announce our partnership with Mashreq. UAE is a very popular destination, with millions of Indian visitors every year. With this partnership, customers can now conveniently transact through UPI, a payment method they are familiar with. Enabling digital payments not only reflects PhonePe’s commitment to convenience but also embraces the evolving needs of today’s travelers. This collaboration opens doors to seamless transactions, ensuring a smoother and more enjoyable journey for visitors.”
Vibhor Mundhada, CEO of NEOPAY at Mashreq added, “We are delighted to collaborate with PhonePe to offer yet another new payment solution for Indian tourists and visitors in the UAE, helping further cement the already strong financial relations between the two countries. This latest launch underscores our commitment to incorporating innovation and technology into our operations, and to providing the solutions and experiences our customers want and need.”
Anubhav Sharma, Deputy Chief – Partnership Business Development & Marketing, NIPL said, “We aim to actively collaborate with financial institutions around the world, fostering partnerships to deliver convenient and secure cross-border payment solutions for consumers. This partnership encourages fintech collaboration and unifies the ecosystem to streamline payment processes for Indian travelers to UAE.”
In addition to facilitating travel and local transactions, PhonePe will also introduce inward remittance services once the corridor for inward remittances is enabled. This will simplify the process of transferring money by leveraging the UPI infrastructure, thereby eliminating the need for details such as bank account numbers and IFSC codes.
Telugu super news,Mumbai, March 22, 2024: HDFC Bank and TD Bank Group (TD) today announced an expanded relationship supporting Indian students planning to study in Canada.
With this agreement, TD and HDFC Bank are announcing a new referral program. HDFC Bank will refer students planning to study in Canada to TD’s International Student GIC Program, which enables studentsto conveniently comply with the Government of Canada’s Student Direct Stream (SDS) study permit pathway. This referral partnership builds on the two banks’ existing relationship where TD has acted as HDFC Bank’s main correspondent banking partner for Canadian Dollar clearing since 2015.
As part of the Canadian government’s requirements to apply for an expedited study permit, students are required to provide proof of financial support, which is accomplished via a Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution. The TD International Student GIC Program is designed to enable students to open accounts digitally and help them meet their study visa and living expense requirements.
HDFC Bank is India’s leading private sector bank. As of December 31, 2023, the Bank’s distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities / towns. TD is the second largest Bank in Canada and sixth largest in North America by assets, and serves over 27.5 million customers around the globe. TD has over 1,000 branches across Canada, with advisors speaking more than 80 languages, including Hindi, Punjabi, Tamil, Gujarati, and Urdu.
“We continue our focus on helping Indian students to navigate the process to study abroad,” said Mr.SSampath Kumar, Group Head Retail Branch Banking, HDFC Bank, “Canada is a leading education market and our relationship with TD aims to simplify the process for students and Non-Resident Indians (NRIs) who want to study there.”
Ms. Smita Bhagat Group Head Retail Branch Banking, HDFC Bank further added, “The association is designed to support the study permit requirements of Indian students planning to study in Canada. The curated program also offers a wide range of financial benefits to amplify their living experience while studying there.”
In 2023, there were over 425,000 Indian international students with active study permits in Canada, making the country the top source for international students in Canada.
“We are thrilled to announce our expanded relationship with HDFC Bank, and the benefits it will provide for those beginning their journey to study here“, says Sona Mehta, Executive Vice President of Canadian Personal Banking, TD Bank Group. “With this expanded relationship, HDFC Bank and TD can provide the financial offerings that will make for a smoother transition to the Canadian banking environment. We look forward to welcoming and serving these students throughout their journey. We understand that there’s a lot to manage when coming to study abroad, and through this partnership, we will simplify the process, and deliver the ease, value, and trusted advice that TD is known for.”
The TD International Student GIC program will provide students with:
· TD International Student GIC:
o A GIC designed to meet the needs of the SDS program via a simple online application process.
o Students incur no application fees.
o Students will also start earning interest on their GIC even before arrival in Canada.
· TD Student Chequing Account: A chequing account designed for students with no monthly plan fee (until 23 years old or with proof of enrolment in full-time post-secondary education), unlimited transactions and additional benefits.
· Exclusive One-time credit: HDFC Bank customers will receive a fee rebate to cover their first wire payment into their TD account.
Once students arrive in Canada, they will benefit from the ease, value, and trusted advice TD is known for. The benefits under this Program will include:
· Accessible Banking: TD has longer branch hours than any other Canadian bank, with over 1,000 branches coast to coast, and advisors speaking more than 80 languages. Banking services are also available online, as well as at your fingertips with the TD app.
· Advice at the ready: Whether students are looking for expert advice on managing day-to-day expenses or long-term financial planning, TD colleagues are here to help, both in branch and over the phone.
· TD International Student Banking Package: Students can get up to $635 CAD in value when they start by opening a TD Student Chequing Account.
Telugu super news,India, March 21,2024: HDFC Bank, India’s largest private sector bank, today announced the inauguration of 60 Business Correspondent (BC) Banking Outlets across RBI notified unbanked rural centers (URCs) pan-India. These new outlets now increase HDFC Bank’s URC network presence to 5,020 outlets. Notably, 34% of the Bank’s BC Agent network now caters to providing formal financial products and services across 10,602 villages.
The initiative was undertaken in collaboration with CSC eGov. It will help deliver essential banking services to the last mile, directly through physical centres of village-level entrepreneurs (VLEs) acting as micro-entrepreneurs and in turn empowering communities in underserved regions.
Customers will benefit from a comprehensive suite of Bank’s financial solutions including:
Convenient cash deposit & withdrawal through AEPS-enabled transactions
Neighborhood locations for EMI collection of loans
Government-backed social security schemes to create insurance safety net
Opening Bank accounts for directly receiving government scheme transfer benefits
Fixed and recurring deposit options for financial planning
Access to credit through loans like SLI and Kisan Gold Card to fulfil household aspirations.
Centre details:
SH Name
Confirmation Status (No. of centres to be inaugurated)
Assam & Rest of NE
7
CG
8
MP
2
Jharkhand
6
Bihar
6
Telangana & Andhra Pradesh
10
Odisha
10
Kerala
11
Grand Total
60
Speaking on the development, Ms.Smita Bhagat, Group Head, Retail Branch Banking-North, East & Central, ABCP & Retail FX, HDFC Banksaid, “HDFC Bank is deeply committed to financial inclusion even in the remotest corner of the country. We are happy that a significant portion, nearly 34% of our BC network, operates within RBI notified unbanked rural centers (URCs). We aim to empower these communities and contribute to the government’s financial inclusion agenda by providing crucial financial solutions like AePS transactions, deposit services, government-backed insurance, and access to credit facilities.”
Mr. Sanjay Rakesh, MD of CSC, emphasized the importance of digital innovation by suggesting that the bank should consider introducing a diverse range of digital products and services at BC centers. This strategic move aims to provide comprehensive banking services directly to customers within the catchment area. Additionally, Mr. Rakesh advised VLEs operating as BCs at URC locations to maximize their revenue potential through the HDFC Bank and CSC partnership by offering relevant financial products and services to the local customer base.”
